Ares Management held the final close of its Pathfinder Fund III above its original target, securing US$8.5 billion in commitments. The firm also expanded its infrastructure debt leadership team, appointing Brent Canada as Head of Infrastructure Debt and adding senior hires in EMEA and APAC. In addition, Ares launched a major industrial real estate development in the Raleigh Durham region in partnership with Hines, and is participating in a Bank of England stress test for private markets. The stock has fallen 32.4% year to date, closing at $112.47.
Ares Management LPClosed Pathfinder Fund III above target at $8.5 billion, indicating strong fundraising success.
Partnered with Ares on a real estate development, but no specific impact on Hines mentioned.