09:31 AM EDT, 05/22/2025 (MT Newswires) -- Ares Management ( ARES ) has sold an approximately $1 billion collateralized fund obligation, which is a structured finance instrument backed by stakes in some of its private equity secondary funds, Bloomberg reported Thursday, citing sources with knowledge of the transaction.

The financial instrument was structured by Goldman Sachs Group ( GS ) and includes a debt portion and a first-loss equity slice, the sources told the news outlet, adding that the bank was also a purchaser of the senior debt tranche.

Ares Management ( ARES ) and Goldman Sachs ( GS ) did not immediately reply to requests for comment from MT Newswires.

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