Ares Management is seeking capital for a new Asia private credit fund focused on financing leveraged buyouts across Asia Pacific, according to a report by Bloomberg.
The fund, Asia Direct Lending II, could reportedly be larger than its predecessor, which raised $1.7bn, although final details have not yet been set.
The launch comes as global alternative asset managers continue to expand in Asia Pacific private credit, a market that remains a small part of the wider $1.8tn global asset class but is growing quickly in markets including Australia and India.