Ares Leads €300 Million Continuation Fund for Bakery Europastry

Ares Management Corp. is leading a continuation fund for frozen baked goods firm Europastry SA, owned by MCH Private Equity.

The single-asset fund raise was led by Ares’s secondaries franchise, according to a statement reviewed by Bloomberg News. While financial details were not disclosed, people familiar with the matter said the size of the continuation vehicle is €300 million ($346 million).

A spokesperson for Ares declined to comment on the fund size, while MCH did not respond to a request for comment.

The vehicle attracted a broad base of investors including the Asset Management Umbrella Fund, which is ...