Ares Seeks More Than $2 Billion for Asia Special Situations Fund

Ares Management Corp. is raising another Asia special situations fund to bolster its credit investments in the region, according to people familiar with the matter.

The company is targeting a fund no smaller than its previous one, which corralled about $2.4 billion in 2023, the people said, requesting not to be identified because the matter is private. Ares is also mulling a separate fund that will focus on Asia performing credit, though the amount it’s seeking isn’t clear, the people said.