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Ares Management Raises $7.85Billion for Fifth Flexible Capital Private Equity Fund

LOS ANGELES, Apr 25, 2016 (BUSINESS WIRE) -- Ares Management, L.P. ARES, +0.21% a leading global alternative asset manager, announced the final closing of its fifth global flexible capital private equity fund, Ares Corporate Opportunities Fund V, L.P. (“ACOF V” or the “Fund”). Fundraising began in the third quarter of 2015 with an initial target of $6.5 billion. The Fund held its final closing on $7.85 billion of total commitments, which includes $250 million of GP commitments principally from employees and $7.6 billion of third-party commitments. Approximately 80% of the Fund’s limited partner commitments came from existing investors in one or more of the Ares Private Equity Group’s four prior ACOF funds.

ACOF V will continue to execute the investment strategy employed by the prior ACOF funds, pursuing opportunistic investments in primarily North American and European businesses with strong franchises and world class management teams where the Ares Private Equity Group can help unlock additional growth opportunities through its flexible capital. The Ares Private Equity Group has the experience and expertise to execute a range of transactions across market cycles, including traditional control buyouts, growth equity, distressed for control and rescue investments. This flexible capital approach, combined with the additional deal flow and diligence resources provided by the broader Ares Management platform, expands the universe of potential investment opportunities and allows Ares to remain highly selective in its pursuit of compelling risk-reward opportunities in a variety of market conditions.

The Ares Private Equity Group has a long track record, investing for over 12 years across 48 platform investments in the prior ACOF funds. Over this period, the prior ACOF funds have generated an aggregate gross IRR of 23% and a net IRR of 16%. Currently, the ACOF portfolio covers businesses across a variety of industries including companies such as: Smart & Final, Farrow...