• Frontline
  • Warren Buffett
  • Volvo
  • NASDAQ Composite Index
  • 10 Year Treasury
  • Commercial Banks
  • JPMorgan Chase
  • Emerging Markets
  • Commerce Department
  • Home
  • Practice Management
  • Research & Insights
  • Alternatives
  • ETF Managed Portfolios
  • Home>Ares Management’s Credit Group Highlights Third Quarter Financing Commitments

    Ares Management’s Credit Group Highlights Third Quarter Financing Commitments

    Ares Management’s Credit Group Highlights Third Quarter Financing Commitments

    11/06/2017

    Ares Management’s Credit Group Highlights Third Quarter Financing Commitments

    Approximately $3.0 Billion in New Investment Commitments Closed in the Third Quarter

    The Ares Management, L.P. (“Ares Management”) (NYSE: ARES) Credit Group (including funds managed by Ares Management, collectively “Ares”) is providing additional details on new financing commitments in its U.S. direct lending strategies that closed during the third quarter, which totaled approximately $3.0 billion across 67 transactions.

    Below is a description of nine transactions that funds managed by the Ares Credit Group closed during the third quarter.

    Accruent / Genstar Capital

    Ares served as administrative agent, joint lead arranger and joint book runner for a first lien term loan to support Accruent’s acquisition strategy and to refinance the company’s existing capital structure. Ares also served as administrative agent for a term loan and invested in the second lien term loan in connection with the transaction. Accruent is a leading provider of real estate and facilities management software serving customers across several industry verticals including retail, telecom, healthcare, higher education and public sector businesses.

    American Seafoods / Bregal Partners

    Ares served as administrative agent, sole arranger and sole bookrunner for a second lien term loan to support the refinancing of American Seafoods’ senior secured credit facility. The company harvests and processes a variety of fish species, including Alaska pollock, Pacific whiting (hake), yellowfin sole and Pacific cod, aboard its sophisticated catcher-processor vessels. American Seafoods distributes its products to a diverse group of customers globally.