Ares Management Announces First Quarter 2024 U.S. Direct Lending Origination Activity By Investing.com

Approximately $9.3 Billion in New Commitments Closed in the First Quarter and Approximately $29.6 Billion Closed in the 12 Months Ended March 31, 2024

NEW YORK, NY / ACCESSWIRE / May 2, 2024 / Ares Management Corporation (NYSE:) announced today that funds managed by its Credit Group (collectively “Ares”) closed approximately $9.3 billion in U.S. direct lending commitments across 71 transactions during the first quarter of 2024 and approximately $29.6 billion in direct lending commitments across 253 transactions in the 12 months ended March 31, 2024. Below is a description of selected transactions that Ares closed during the first quarter of 2024.

Aptean / TA Associates, Insight Partners and Charlesbank
Ares served as a lender for a senior secured credit facility to support the sponsors’ continued growth plans for Aptean. Aptean is a leading global provider of mission critical, vertical-market focused enterprise resource planning software primarily to small and medium sized businesses.

The Ardonagh Group / Madison Dearborn Partners and HPS Investment Partners
Ares served as the administrative agent and lead arranger for multicurrency senior secured term loans split across USD, EUR, and AUD tranches to support continued growth plans for Ardonagh, a leading, independent global insurance broker with a diversified set of capabilities across distribution, wholesale and underwriting services.

Artivion
Ares served as the administrative agent, sole lead arranger and sole book runner for a senior secured credit facility to support the Company’s continued growth plans. Artivion is a leader in the manufacturing, processing and distribution of medical devices and implantable human tissues used in cardiac and vascular surgical procedures for patients with aortic disease.

Banyan Software Holdings
Ares served as the administrative agent, sole lead arranger and sole bookrunner for a senior secured credit facility to support Banyan’s continued growth plans. Banyan owns and operates vertical software business units which benefit from the oversight of the company’s management team and board, both of which are comprised of experienced software operators and investors.

Broadcast Music Inc. (“BMI”) / New Mountain Capital
Ares served as the administrative agent, joint lead arranger and joint bookrunner for a senior secured credit facility to support New Mountain Capital’s acquisition of…