Early this week, alternative investment manager Ares Management announced that it had acquired a $3.5 billion specialty finance loan portfolio from PacWest Bancorp that included residential and commercial real estate loans.
Last month, PacWest sold its real estate lending arm to Roc360 for an undisclosed amount and its CRE loan portfolio to Kennedy Wilson for $2.4 billion.
PacWest's stock is up about 12% since the close of last week.
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