Ares Management Corporation’s Fundraising

Goodwin Procter LLP advised Ares Management Corporation on the deal.

Ares Management Corporation (NYSE: ARES) announced the formation of its Ares U.S. Real Estate Opportunity Fund III, L.P. The fund, which targets distressed, repositioning, and selective development opportunities, was oversubscribed with approximately $1.7 billion of commitments compared to its $1.5 billion target. This marks the largest U.S. real estate equity fundraise for Ares to date and is a significant increase from the $1 billion of commitments raised for the predecessor fund and related vehicles.

Ares is a leading global alternative investment manager operating integrated groups across Credit, Private Equity, Real Estate, and Strategic Initiatives.

The Goodwin team was led by Sean Gruver (Picture), Josh Victor, Sam Baldinger, Vineeta Nangia, and Ally Gao, and included David Patton, Sonita Bennitt, Matt Stayman, Margo Borders, Bibek Pandey, and Patrick Menasco.

Involved fees earner: Samuel Baldinger – Goodwin Procter; Sonita Bennitt – Goodwin Procter; Margo Borders – Goodwin Procter; Sean Gruver – Goodwin Procter; Patrick Menasco – Goodwin Procter; Bibek Pandey – Goodwin Procter; David Patton – Goodwin Procter; Matthew Stayman – Goodwin Procter;

Law Firms: Goodwin Procter;

Clients: Ares Management Corporation;

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Author: Martina Bellini