Ares Management Corporation announced on Tuesday that it has successfully raised $3.3 billion in real estate secondaries capital. This impressive amount includes the Landmark Real Estate Fund IX, as well as commitments from general partners and affiliated vehicles.
LREF IX is designed to provide solutions for both GPs and limited partners by acquiring seasoned assets at discounted prices and creating highly diversified portfolios for investors. Ares’ Real Estate Secondaries strategy has already invested or committed over $8.3 billion through more than 200 transactions.
According to Michelle Creed, partner and co-head of real estate secondaries at Ares alongside Jamie Sunday, the company is grateful for the support from both existing and new investors. With a focus on taking advantage of market imbalances and growing investor interest in secondary markets, Ares believes it can generate strong risk-adjusted returns for its clients.
This news follows another significant fundraising announcement last week from Blackstone’s latest real estate secondaries fund which closed at $2.6 billion.
The photo above shows Ares’ headquarters located in Century City.
