LOS ANGELES–(COMMERCIAL THREAD) – Ares Management Corporation (NYSE: ARES) provides details on certain new funding commitments made as part of its direct lending strategies in the United States. The funds managed by the credit group of Ares Management Corporation (collectively “Ares”) closed approximately $ 7.2 billion of commitments on 54 transactions during the third quarter of 2021 and approximately $ 27.0 billion of commitments on 244 transactions in the last twelve months ended September 30, 2021 This compares to $ 2.0 billion of commitments closed on 31 transactions during the third quarter of 2020 and approximately $ 8.4 billion commitments on 149 transactions during the twelve-month period ended September 30, 2020.
Below is a description of the selected transactions that Ares closed during the third quarter.
Alera Group / Genstar Capital
Ares served as administrative agent, principal arranger and associate bookrunner for a senior secured credit facility to support the Alera Group merger with Propel Insurance. The Alera Group is a leading national independent insurance and financial services firm.
The Ardonagh group / Madison Dearborn Partners & HPS Investment Partners
Ares led a senior secured credit facility to support the sponsors’ continued growth plans for Ardonagh. Ardonagh is a leading independent insurance intermediary in the UK with a diverse set of capabilities in distribution, wholesale and underwriting services.
Arrowhead / Genstar Capital Engineering Products
Ares served as administrative agent, principal arranger and associate bookrunner for a senior secured credit facility to support Genstar’s acquisition of Arrowhead Engineered Products. Arrowhead is one of the world’s leading suppliers of non-discretionary, proprietary brand replacement parts for a wide variety of vehicles and power equipment.
High Street Insurance Partners / Abry Partners
Ares served as administrative agent, senior arranger and senior bookrunner for a senior secured credit facility to support Abry Partners’ acquisition of High Street Insurance Partners. High Street is an independent insurance brokerage firm providing a broad range of commercial insurance and risk management services, employee benefits and human capital management, financial and pension services and insurance solutions. personal.
Managed markets analysis and technology and valuation / Welsh, Carson, Anderson & Stowe and Hg Capital
Ares served as administrative agent for a senior secured credit facility to support the merger of Managed Markets Insight and Technology and Evaluate. The newly formed organization will seek to become a leading provider of pharmaceutical business intelligence and deliver unique and comprehensive data solutions throughout the drug lifecycle.
Sun Auto Tire & Service / Leonard Green & Partners
Ares served as administrative agent, senior arranger and associate bookrunner for a senior secured credit facility to support the acquisition of Sun Auto by Leonard Green & Partners. Sun Auto is a leading provider of automotive aftermarket tire maintenance, repair and replacement services.
TurnPoint Services / OMERS Private Equity
Ares served as administrative agent, senior arranger and senior bookrunner for a senior secured credit facility to support the growth of TurnPoint Services. TurnPoint is a leading regional provider of non-discretionary plumbing and HVAC maintenance services to residential and commercial customers.
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager providing clients with complementary primary and secondary investment solutions across 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 working with our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2021, Ares Management Corporation’s global platform had approximately $ 282 billion in assets under management, with approximately 2,000 employees operating in North America, Europe, Asia-Pacific and the Middle East. . For more information, please visit www.aresmgmt.com.