London
Ares Management Corp. has closed its fifth European real estate fund, Ares European Real Estate Fund V SCSp, oversubscribed with a total fundraise of €1.78 billion. The firm had an initial target of €1.25 billion.
This is Ares largest fundraise to date. It is also a significant increase over its previous fund, Ares European Real Estate Fund IV, which closed at €1.1 billion in December 2014.
The fund will invest across asset classes, and will maintain earlier strategies to invest undermanaged or underfunded assets out of distressed ownership structures or complex situations, and actively managing them through to exit into the institutional market.
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Kelsi Maree Borland
