Ares Aims to Raise $8 Billion to Back AI-Fueled Data Center Boom

Ares Management Corp. has set fundraising targets for data center investments, positioning itself to capture a share of the millions of dollars in new fees flowing into the booming sector.

The Los Angeles-based firm is aiming for more than $8 billion of equity fundraising to back data centers in the near term across London, Japan and Brazil, it told investors in a presentation on Thursday.

Ares also hiked how much it’s hoping to raise from wealthy individuals over the next few years, according to the presentation. The firm raised its fundraising targets for its wealth business by $25 billion to ...