Ares Management Corporation Announces U.S. Direct Lending Origination Activity for First Quarter 2022
28 April 2022 - 12:30PM
Business Wire
Approximately $5.0 Billion in New Commitments
Closed in the First Quarter with Approximately $35 Billion closed
in the Last Twelve Months Ended March 31, 2022
Ares Management Corporation announced today that funds managed
by its Credit Group (collectively “Ares”) closed approximately $5.0
billion in U.S. direct lending commitments across 54 transactions
during the first quarter of 2022 and approximately $35 billion in
direct lending commitments across 287 transactions in the last
twelve-month period ended March 31, 2022. This compares to the $3.6
billion in commitments closed on 45 transactions during the first
quarter of 2021 and approximately $14.5 billion in commitments for
168 transactions in the twelve-month period ended March 31, 2021.
Below is a description of selected transactions that Ares closed
during the first quarter.
3E / New Mountain Capital
Ares served as the administrative agent, joint lead arranger and
joint bookrunner for a senior secured credit facility to support
New Mountain Capital’s acquisition of 3E. 3E is a leading global
provider of data-driven intelligent compliance solutions in the
Environmental, Health, Safety & Sustainability space.
AirX Climate Solutions / Catterton Partners
Ares served as the administrative agent, joint lead arranger and
joint bookrunner for a senior secured credit facility to support
the growth of AirX Climate Solutions (ACS). ACS provides highly
engineered cooling and ventilation solutions serving
mission-critical applications across a diverse set of end markets,
including telecommunications, data centers, educational,
residential and industrial and commercial markets.
Community Brands / Insight Partners
Ares served as the administrative agent, joint lead arranger and
joint bookrunner for a senior secured credit facility to support
Insight Partner’s growth plans for Community Brands. Community
Brands is a leading provider of cloud-based software and payment
solutions for association, education, and non-profit
organizations.
Convera / The Baupost Group & Goldfinch Partners
Ares served as the administrative agent for a senior secured
credit facility to support The Baupost Group and Goldfinch
Partners’ acquisition of Convera. Convera is one of the largest
non-bank providers of cross-border business payment and foreign
exchange solutions processing in the world.
Covaris / New Mountain Capital
Ares served as of the administrative agent in a senior secured
credit facility to support New Mountain Capital’s acquisition of
Covaris. Covaris provides instruments, consumables and reagents
associated with the pre-analytical sample preparation process.
Cranial Technologies / Eurazeo
Ares served as the administrative agent, sole lead arranger and
sole bookrunner for a senior secured credit facility to support
Eurazeo’s acquisition of Cranial Technologies (CT). CT is a leading
provider of custom helmet orthotics for patients diagnosed with
plagiocephaly or brachycephaly.
High Street Insurance Partners / ABRY Partners
Ares served as the administrative agent, sole lead arranger and
sole bookrunner to support the growth of High Street Insurance
Partners. High Street is a full-service independent insurance
brokerage firm providing a broad array of business insurance &
risk management, employee benefits & human capital management,
financial & retirement services and personal insurance
solutions.
The Mather Group / The Vistria Group
Ares served as the administrative agent, sole lead arranger and
sole bookrunner for a credit facility to support The Vistria
Group’s acquisition of The Mather Group (TMG). TMG is an
independent wealth management firm offering comprehensive services
to a diverse group of clients including high net worth individuals,
families, corporate retirement plans and other institutions.
New Era Cap / ACON Investments
Ares served as the joint lead arranger and joint bookrunner for
a senior secured credit facility in New Era Cap, a portfolio
company of ACON Investments. New Era is one of the largest
authentic licensed headwear and lifestyle brand in the U.S. and
globally.
SageSure
Ares served as the administrative agent for a senior secured
credit facility to support SageSure’s strategic growth initiatives.
SageSure is a leading managing general underwriter and insurance
technology innovator specializing in coastal residential property
markets.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global
alternative investment manager offering clients complementary
primary and secondary investment solutions across the credit,
private equity, real estate and infrastructure asset classes. We
seek to provide flexible capital to support businesses and create
value for our stakeholders and within our communities. By
collaborating across our investment groups, we aim to generate
consistent and attractive investment returns throughout market
cycles. As of March 31, 2022, Ares Management Corporation's global
platform had approximately $325 billion of assets under management,
with approximately 2,100 employees operating across North America,
Europe, Asia Pacific and the Middle East. For more information,
please visit www.aresmgmt.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20220427006239/en/
Ares Management Corporation Carl Drake, (888) 818-5298
cdrake@aresmgmt.com or John Stilmar, (888) 818-5298
jstilmar@aresmgmt.com
Media: Ares Management Corporation Priscila Roney,
212-808-1185 proney@aresmgmt.com
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