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Dec. 5, 2023 5:30 am ET|WSJ Pro
Ares Management has wrapped up fundraising for its latest program dedicated to acquiring stakes in private real-estate investment vehicles and aims to capitalize on mounting refinancing needs among asset managers in the sector.
The listed alternative-assets firm, best known for its roughly $268.9 billion private-credit operation, collected $3.3 billion for its Landmark Real Estate Fund IX and related vehicles. The secondaries program focused on property funds is the first raised by Ares since it entered the market by purchasing secondaries firm Landmark Partners for $1.08 billion in 2021.
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