Antares Capital and Ares Management Corporation have confirmed the final closing of a $1.7 billion private credit continuation vehicle. Announced on 30 March 2026, the deal represents the second such transaction between the two financial firms within a twelve-month period. Ares Credit Secondaries funds led the commitments, supported by additional investment from Antares itself.

The newly established vehicle was created to acquire assets from an existing closed-end private credit fund. This portfolio consists of more than 300 first lien, floating rate loans that were originally issued and managed by Antares. Under the terms of the agreement, Antares will keep its role as the manager for both the continuation vehicle and the underlying loan assets.

“This transaction reflects our continued commitment to delivering innovative liquidity solutions to private credit institutional investors,” said Vivek Mathew, president of Antares Capital Advisers. “Antares is pleased to once again partner with Ares and utilize the continuation vehicle structure to provide flexible, investor-focused solutions, while offering access to a mature, high-performing portfolio with healthy cash generation.”

Industry experts note that current market conditions have seen assets being held for longer durations. This continuation vehicle addresses that trend by providing existing investors with an attractive liquidity option. At the same time, it allows new investors to gain exposure to a diversified and established portfolio of private credit assets.

“We are pleased to lead this continuation vehicle, our second with Antares in the past year, underscoring our ability to deliver creative liquidity solutions for leading GPs and their LPs in this dynamic market environment,” said Dave Schwartz, Head of Ares Credit Secondaries, and Luca Salvato, Partner at Ares. “This investment highlights the strength of our scaled capital base, disciplined approach to credit investing and deep experience across credit and secondaries.”

Evercore acted as the lead financial advisor for the deal. Additional financial advisory services were provided by GreensLedge and Moelis & Company LLC. The successful closing highlights a growing appetite for secondary credit structures that can provide flexibility for institutional investors in a shifting economic landscape.