ARES - Ares Management closes fifth infrastructure fund at $5.0B

• Ares Management ( NYSE: ARES ) held the final close on its latest infrastructure debt fund at ~$5.0B, including general partner commitments and related transaction vehicles, on Dec. 29, 2022, it said Wednesday.
• The Infrastructure Debt Fund V (IDF V) focuses on subordinated investments across the digital, utilities, renewables, energy and transportation sectors, and is believed to be the largest global infrastructure subordinated debt fund, the company said.
• "As a result of the growth in the infrastructure sector, I believe that we can drive attractive risk-adjusted returns for our investors as the infrastructure asset class demonstrates low volatility and consistent returns," said Patrick Trears, partner and global head of Ares ( ARES ) Infrastructure Debt.
• Ares Management's ( ARES ) Infrastructure Debt team has committed ~$10.4B across more than 60 assets since 2011. It has invested or committed ~$2.0B, or roughly 40% of IDF V's investable capital base, to date.
• In November, BMO downgraded Ares ( ARES ) to Market Perform from Outperform as its strong fundraising pipeline and premium fee-related earnings growth were already fairly reflected in its blended P/E multiple.

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