Ares Private-Credit Fund to Buy Competitor From Apollo
The merger of the two business-development companies will boost Ares Capital Corp. to over $31 billion
By
Matt Wirz
Updated ET
Mike Arougheti, chief executive officer of Ares Management Corp. Victor J. Blue/Bloomberg News
A fund managed by , one of the biggest players in private credit, is buying a $2.5 billion fund from one of its largest competitors—and its progenitor—Apollo Global Management.
The details
Ares will buy the publicly traded business-development company known as MFIC, with a mix of cash from Ares Management and stock from its own public fund, Shareholders in MFIC will end up owning about 5% of the shares in the merged funds if the deal closes as expected in the first half of 2027.
