Key Takeaways
- • Antares Capital and Ares Management (NYSE: ARES) announced the closing of Antares' first continuation vehicle with over $1.2 billion in commitments, according to a Business Wire release.
- • The transaction was led by Ares Credit Secondaries funds, with an additional commitment from Antares.
- • The vehicle acquired assets and limited partner interests from two comingled private credit funds holding more than 100 first lien, floating rate loans originated and managed by Antares.
- • The deal represents Ares' largest credit secondary investment to date, per Dave Schwartz, Head of Credit Secondaries at Ares.
- • Evercore served as exclusive financial advisor on the transaction; Antares reports approximately $80 billion in capital under management and administration as of December 31, 2024.
Summary
Antares Capital and Ares Management Corporation announced the closing of Antares' first continuation vehicle with over $1.2 billion in commitments, according to a Business Wire release dated June 2, 2025. The transaction was led by Ares Credit Secondaries funds, alongside a commitment from Antares.
The continuation vehicle was established to purchase assets and limited partner interests from two comingled private credit funds. The underlying portfolio comprises more than 100 first lien, floating rate loans originated and managed by Antares. According to the announcement, the structure gave existing investors an liquidity option while giving new investors exposure to Antares-originated private credit assets.
Vivek Mathew, president of Antares Capital Advisers, described the transaction as reinforcing the firm's long-standing partnership with Ares and as an important step in expanding the Antares platform. Ben Chapin, Head of Liquidity Solutions at Antares Capital, said the successful close highlights the quality of the Antares portfolio and its origination and underwriting capabilities, and that the firm is committed to structuring liquidity options for both limited partners and general partners.
Dave Schwartz, Head of Credit Secondaries at Ares, said the transaction is Ares' largest credit secondary investment to date and reflects the firm's private credit and secondaries experience and its ability to deploy scaled capital.
Evercore served as exclusive financial advisor on the transaction. Antares, founded in 1996, reported approximately $80 billion in capital under management and administration as of December 31, 2024, figures the firm described as estimates subject to change. Ares Management reported approximately $546 billion in assets under management as of March 31, 2025.
The continuation vehicle was established to purchase assets and limited partner interests from two comingled private credit funds. The underlying portfolio comprises more than 100 first lien, floating rate loans originated and managed by Antares. According to the announcement, the structure gave existing investors an liquidity option while giving new investors exposure to Antares-originated private credit assets.
Vivek Mathew, president of Antares Capital Advisers, described the transaction as reinforcing the firm's long-standing partnership with Ares and as an important step in expanding the Antares platform. Ben Chapin, Head of Liquidity Solutions at Antares Capital, said the successful close highlights the quality of the Antares portfolio and its origination and underwriting capabilities, and that the firm is committed to structuring liquidity options for both limited partners and general partners.
Dave Schwartz, Head of Credit Secondaries at Ares, said the transaction is Ares' largest credit secondary investment to date and reflects the firm's private credit and secondaries experience and its ability to deploy scaled capital.
Evercore served as exclusive financial advisor on the transaction. Antares, founded in 1996, reported approximately $80 billion in capital under management and administration as of December 31, 2024, figures the firm described as estimates subject to change. Ares Management reported approximately $546 billion in assets under management as of March 31, 2025.
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