21 August 2019
The Ares Management Corporation announced that it would close subscriptions to its Ares European Real Estate Fund V (REFV) after reaching €1.78 billion in funds. The fund, Ares largest, had originally looked to raise €1.25 billion.
The REFV was created to “acquire undermanaged or underfunded assets out of distressed ownership structures or complex situations, and actively managing them through to exit into the institutional market.” Ares’ latest fund will invest in an array of sectors, including residential, office, industrial and mixed-use assets, mostly in high-liquid European markets such as Germany, France, the U.K. and Spain.
Original Story: Business Wire
Adaptation/Translation: Richard D. K. Turner