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Ares seeks to raise $250 million fund to invest in secured debt
By Sara Rosenberg
New York, June 29 - Ares Capital Corp. plans to raise up to $250 million through a private debt fund that would invest principally in newly originated and secondary senior secured debt, according to a news release.
Ares said that the purpose of the new fund is to capitalize on current market opportunities by leveraging its investment and management infrastructure.
As part of the transaction, the new fund is anticipated to purchase a warrant that would permit it, upon certain circumstances, to purchase up to 20% of Ares Capital's common stock.
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