A couple of interesting things here:
- The underlying fund, Ares Capital Europe IV, closed in July 2018 at its €6.5 billion hard cap.
(i.e. the fund is now 8 years old, and has at least €3 AUM remaining)
- LPs must be getting very eager to exit, if the GP is organizing an LP stake transaction?
As a side note, Ares raised $7B earlier this year for its own credit secondaries strategy..