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Ares Management raises a record $36.4bn in capital and deploys $36bn

Two-year forward-flow agreement deepens a relationship between the two that was forged in 2023.

The North America-focused fund exceeded its $886m target, with the fundraise expanding its private credit platform.

Former Ping An Insurance CIO Benjamin Deng had joined Canadian group Sun Life – which owns private credit manager Crescent Capital – in January last year.

The New York-based manager is looking for construction lending opportunities in and beyond the stateside Sun Belt market for its next $10bn of volume.

The US asset manager has hired David Luo from insurer AIA for what is understood to be a newly created role.

The portfolio has a weighted average aircraft age of approximately 5.6 years. This is very close to the average for commercial aircraft securitisation deals.

The private debt specialist GP has hired investment professionals from Singapore state fund GIC and rival managers Ares, Goldman Sachs and Partners Group.

The deal to transfer $3.8bn of long-term care policies to Fortitude will earn Carlyle recurring fees.

Francesco Martorana will start at the Swiss insurer this week after around 13 years at Italian rival Generali, with his predecessor at Zurich taking up a new role.