The Fund received strong support from a global investor base comprised of a broad cross section of new institutional and high-net-worth investors as well as existing Shenkman clients, the firm said.
While divestment advocates have successfully pushed some public and private universities to drop fossil fuel investments, the movement hasn’t caught on at oil-reliant institutions.
Ares Management Corporation closed its fifth commingled European direct lending fund at a record-breaking €11 billion ($13 billion), as officials cite strong demand from pension funds, insurance companies, SWFs, endowments and family offices.