08:10 AM EDT, 09/16/2024 (MT Newswires) -- Ares Management ( ARES ) said Monday that it had raised more than $3.3 billion to invest in opportunistic real estate in the US through its Ares US Real Estate Opportunity Fund IV.

The company said the fund would focus on acquiring real estate assets from distressed ownership structures and special situations, enhancing and repositioning undermanaged assets, and pursuing risk-mitigated development and redevelopment in desirable submarkets.

The company said the fund, when combined with capital raised for its recent European opportunistic real estate strategy, brings its total opportunistic capital to $5.5 billion.