Ares private credit fund caps withdrawals at 5% after redemption requests surge

Corporate Action
โดย Seeking Alpha·Read original
Summary · why it matters

Ares Management's private credit fund capped withdrawals at 5% after receiving repurchase requests equal to 14.4% of shares outstanding as of April 30. The Ares Strategic Income Fund launched a tender offer to purchase up to 5% of shares at net asset value per share, with an estimated 56,891,917 shares tendered before the offer expired on June 18. The fund intends to repurchase 34.7% of the requested amounts. Shares of Ares Management were 1.64% higher at $115.74 during pre-market trading on Thursday.

Impact on stocks 1

Financials · 1 stocks
Ares Management LP
ARES
± MixedCapitalrelevance

Ares Management's private credit fund caps withdrawals, but parent company shares rose 1.64% pre-market, indicating mixed market reaction.