Antares closes $1.7 billion private credit continuation vehicle led by Ares

Antares Capital and Ares Management Corporation today announced the closing of Antares’ second continuation vehicle with over $1.7 billion in commitments. The transaction was led by Ares Credit Secondaries funds, along with a commitment from Antares. Davis Polk advised Antares on the GP-led secondary transaction and the formation of the continuation vehicle. The continuation vehicle was established to purchase assets from a closed-end private credit fund comprising over 300 underlying first-lien, floating-rate loans originated and managed by Antares. In the current environment, where assets are being held longer, the transaction provides existing investors with an attractive liquidity option while offering new investors exposure to quality Antares-originated private credit assets. Antares will continue to manage the continuation vehicle and the underlying loans.

Antares Capital is a leading alternative credit manager with approximately $90 billion in capital under management and administration as of September 30, 2025. For three decades, Antares Capital has sought to deliver disciplined, dependable credit solutions. Today, its platform focuses on core private credit, liquid credit, and liquidity solutions, managed for the benefit of a global investor base and powered by long-standing sponsor relationships that help unlock attractive investment opportunities across market cycles. Backed by CPP Investments, Antares Capital is dedicated to creating long-term value for the investors, sponsors, and borrowers it serves.

Ares Management Corporation is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. Ares seeks to advance its stakeholders’ long-term goals by providing flexible capital that supports businesses and creates value for its investors and within its communities. By collaborating across investment groups, Ares aims to generate consistent and attractive investment returns throughout market cycles.

The Davis Polk investment management team included partners Michael S. Hong and Sijia Cai, counsel Michael W. Brasher and associates June (Juyeon) Han, Caroline R. Zhang, Andrea Stoller, Aziz Rashidzada and Rebecca Sattaur. Partner Ethan R. Goldman and associate Bryce Maxey provided tax advice. The antitrust and competition team included counsel Meytal McCoy. Members of the Davis Polk team are based in the New York and Washington DC offices.