Ares Opens Milan Office as Direct Lenders Eye Italy’s Deals (1)

Ares Management Corp. has opened a Milan office in an effort to scale up its Italian business, the latest international player to signal an appetite for deals in the region.

The alternative asset manager, which oversees nearly $550 billion, will bolster its direct lending, wealth management and real estate business in the country. Tyrone Cooney, Ares’ head of France and Southern Europe for European direct lending, will support the development of the new office, according to a statement seen by Bloomberg News.

Italy’s private credit market has traditionally hosted a fraction of European transactions, partially due to borrower-friendly regulation ...