11:09 AM EDT, 07/31/2024 (MT Newswires) -- Ares Management ( ARES ) said Wednesday it has completed the final closing of its Ares Senior Direct Lending Fund III.

The fund raised about $15.3 billion in equity commitments, surpassing its $10 billion target, the company said, adding that with additional capital from related investments and anticipated leverage, the fund's total capital is set to reach about $33.6 billion.

In Q2, the fund raised approximately $6.4 billion in debt and equity commitments, the company said.

Shares of Ares Management ( ARES ) rose 3.1% in recent trading activity.

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