Ares Management: Record $12.3 Billion in Q3 2024 U.S. Lending
Deal News | Nov 01, 2024 | Ares Private Equity Group
Ares Management Corporation announced robust third-quarter 2024 performance, closing approximately $12.3 billion in U.S. direct lending transactions across 86 projects. Over the 12 months leading to September 30, 2024, Ares set a new record with $44.5 billion closed in 328 transactions. These figures underscore Ares's significant role in supporting diverse business sectors through strategic financing, including acquisitions and growth projects by notable private equity firms. Key deals included financing for Genstar and TA Associates' acquisition of AffiniPay, Clearlake Capital and Francisco Partners' acquisition of Black Duck Software, and H.I.G. Capital's growth plans for Capstone Logistics, among others. As a major global alternative investment manager, Ares remains dedicated to delivering strategic funding across its core markets, consistently achieving high investment returns across market cycles.
Sectors
- Finance
- Software and Technology
- Insurance
Geography
- United States – The majority of the lending commitments and transactions were centered in the U.S. market.
- Global – Ares Management operates across North America, Europe, Asia Pacific, and the Middle East.
Industry
- Finance – The primary activity involves extensive financial transactions and commitments, particularly in private equity and credit facilities.
- Software and Technology – Several transactions involved software and technology firms, highlighting the sector's demand for investment and growth capital.
- Insurance – The article mentions investments in insurance firms, indicating industry-specific investment activities.
Financials
- 12.3 Billion – Third Quarter 2024 U.S. Direct Lending Origination
- 44.5 Billion – U.S. Direct Lending Commitments in the 12 Months Ended September 30, 2024
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ares Management Corporation | Lender | Company | A global alternative investment manager providing direct lending services. |
| AffiniPay | Target | Company | Provider of practice management software and fintech solutions. |
| Genstar & TA Associates | Bidding Company | Companies | Private equity firms acquiring AffiniPay. |
| Black Duck Software | Target | Company | Provider of application security testing software. |
| Clearlake Capital Group & Francisco Partners | Bidding Company | Companies | Private equity firms acquiring Black Duck Software. |
| Capstone Logistics | Target | Company | Outsourced supply chain solutions provider. |
| H.I.G. Capital | Bidding Company | Company | Private equity firm with growth plans for Capstone Logistics. |
| Fitness Ventures | Target | Company | Operator of Crunch Fitness clubs. |
| Meaningful Partners | Bidding Company | Company | Private equity firm acquiring Fitness Ventures. |
| GenServe | Target | Company | Provider of generator maintenance and repair services. |
| Aurora Capital Partners | Bidding Company | Company | Private equity firm acquiring GenServe. |
| Legends Hospitality | Target | Company | Venue management company. |
| Sixth Street Partners | Bidding Company | Company | Private equity firm involved in acquisition refinancing for Legends Hospitality. |
| Netsmart Technologies | Target | Company | Provider of software solutions in the healthcare industry. |
| GI Partners & TA Associates | Bidding Company | Companies | Private equity firms investing in Netsmart Technologies. |
| PowerSchool | Target | Company | Provider of cloud-based software for the education sector. |
| Bain Capital | Bidding Company | Company | Private equity firm executing take-private of PowerSchool. |
| Prometheus Group | Target | Company | Provider of plant maintenance and scheduling software. |
| Advent International | Bidding Company | Company | Private equity firm acquiring Prometheus Group. |
| Relation Insurance | Target | Company | Platform of niche insurance brokers. |
| Aquiline Capital Partners | Bidding Company | Company | Private equity firm supporting growth of Relation Insurance. |
| SageSure | Target | Company | Managing general underwriter for residential and commercial property insurance. |
| Sunstar Insurance Group | Target | Company | Independent insurance brokerage firm. |
| Reverence Capital Partners | Bidding Company | Company | Private equity firm acquiring Sunstar Insurance Group. |