Ares Raises $7.1 Billion for Second Special Opportunities Fund

Private credit giant Ares Management Corp.has raised $7.1 billion for the second iteration of its special opportunities fund, which targets investors with an appetite for high-yield assets.

The tally is well above an initial $4 billion target set for the fund, which is titled the Ares Special Opportunities Fund II.

With Friday’s announcement, Ares seeks to become part of a growing number of private credit funds that are ramping up their investments in stressed and distressed companies amid the current volatile macroeconomic backdrop.

“We seek to be a partner of choice for healthy, stressed and distressed companies across the ...