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.

Win-Win Liquidity and Fresh Access to Prime Assets

This continuation vehicle offers a dual advantage: existing investors gain a compelling liquidity option, while new backers step into an exclusive club with access to Antares’ highly vetted credit assets—a premium slice of the private credit pie.

And in a financial climate where caution often overrides ambition, the sheer scale of this fund signals boldness with surgical precision.

Heavyweights at the Helm: Ares Leads Largest Credit Secondary Ever

Dave Schwartz, head of credit secondaries at Ares, hailed the transaction as a landmark for their firm.

“This is Ares’ largest credit secondary investment to date,” he said, describing it as a culmination of the firm’s “decades-long relationship with Antares” and a testament to Ares’ capacity to inject scale, creativity, and liquidity into the private markets.

With this move, Ares not only cements its status as a top-tier player in secondary markets but also adds another jewel to its crown—$546 billion in assets under management across credit, real estate, private equity, and infrastructure as of March 31.

An Industry Titan Flexes Its Muscle

Founded in 1996, Antares has grown into a credit behemoth with $80 billion in capital under management. Its reach stretches across six major cities including New York, Los Angeles, Toronto, and London. The firm’s mission: generate risk-adjusted returns while planting the seeds for long-term value.

Antares isn’t just reacting to market trends—it’s redefining them. And with this $1.2 billion continuation fund, it’s sending a message loud and clear: liquidity innovation is no longer optional—it’s the new frontier.

Awaiting Legal Disclosures

Counsel details were not available at press time, and neither Ares nor Antares immediately responded to requests for comment—adding an extra layer of suspense to this blockbuster financial drama.

Stay tuned, because this story—like the assets it revolves around—is just beginning its next chapter.