In a move that’s sending ripples through the private credit world, Antares Capital has sealed the deal on its first-ever continuation vehicle, locking in over $1.2 billion in capital commitments. The high-octane transaction, announced Monday, is spearheaded by Ares Management Corp., one of the biggest names in global private equity.
The continuation fund—think of it as a second life for high-performing assets—was meticulously engineered to absorb holdings and investor interests from two of Antares’ co-mingled private credit funds, which together house more than 100 first-lien, floating-rate loans. These loans, all originated and managed in-house by Antares, reflect the firm’s deep-rooted foothold in middle-market credit.
A Strategic Power Play With Wall Street Firepower
The initiative, led by Ares Credit Secondaries funds, also saw Antares putting some of its own skin in the game—cementing its confidence in the assets and the strategy.
“We are pleased to welcome Ares as a lead investor,” said Ben Chapin, Head of Liquidity Solutions at Antares Capital. “The successful close of our first continuation vehicle, especially in today’s market, underscores the caliber of our portfolio and the precision of our origination and underwriting.”
Using language that signals both confidence and agility, Chapin emphasized that the fund is tailored to meet liquidity demands of both limited partners (LPs) and general partners (GPs)—an acknowledgment of the increasing complexity of investor needs in a market flooded with capital but starved for tailored exits.
