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Ares Raises $3.3B for Real Estate Secondaries
Ares Management Corporation said Tuesday it had raised approximately $3.3 billion of real estate secondaries capital. That tally comprises the Landmark Real Estate Fund IX, general partner commitments and affiliated vehicles.
With solutions for both GPs and limited partners, LREF IX seeks to acquire seasoned assets at attractive discounts to market value and build highly diversified portfolios for its investors. To date, Ares’ Real Estate Secondaries strategy has invested or committed approximately $8.3 billion across more than 200 transactions.
“We are grateful for the strong support and confidence from our existing and new investors,” said Michelle Creed, partner and co-head with Jamie Sunday of real estate secondaries at Los Angeles-based Ares. “As we continue to capitalize on the attractive supply-demand imbalance and the increasing investor interest in secondary markets, we believe we are well positioned to generate compelling risk-adjusted returns for our investors.”
The news represents the second large real estate secondaries fundraise announcement in the past week. On Nov. 30, Blackstone said it had closed its latest real estate secondaries fund at $2.6 billion.
Pictured: Ares headquarters in Century City.
- ◦Financing
