Ares SSG has held the final close of its third Secured Lending Opportunities Fund III (SLO III), with capital commitments of more than USD1.6 billion, which Ares believes makes it the largest pan-Asian secured lending fund to date.
The close of SLO III marks the establishment of Ares SSG’s eighth fund and has attracted a top-tier, diverse set of international institutional investors, including sovereign wealth funds, pension funds and insurance companies. The final fund size represents an approximately 100 per cent increase compared to the predecessor fund, Secured Lending Opportunities Fund II, which closed in 2017 at just over USD800 million.
The new Asia-Pacific-focused fund will follow the same investment strategy as its two predecessor funds, providing flexible capital solutions, primarily in the form of secured loans, to many promising businesses in the region. Ares SSG has already started investing SLO III and approximately 27 per cent of the funds have been deployed to date.
Edwin Wong, Chief Executive Officer and Managing Partner of Ares SSG, says: “We believe the need for private credit solutions in Asia is becoming greater than ever in the wake of the Covid-19 crisis. Many banks are becoming increasingly cautious on new lending, and we believe we are well-positioned as an alternative investment manager to finance growth opportunities within the Fund. Ares SSG aims to leverage its substantial network of relationships and direct lending experience and expertise to proactively unlock value in many businesses across Asia.
Read more/Source: Private Equity Wire
