Opportunistic Credit

The fund exceeds its predecessor and will continue to invest in more complex credits to deliver enhanced returns.

The deal is part of Pemberton’s long-term goal to expand its investor base into the wealth management space.

There are many different definitions of the credit opportunities strategy, but all offer flexibility and a distinct position in the investing spectrum.

Graves, who is based in Los Angeles, joined Ares in 2017.

The firm’s new co-heads took over at the beginning of the year with plans for new products and geographies to expand the London-based manager’s debt footprint.

The new strategy will invest in deals alongside existing Carlyle funds in direct lending, opportunistic credit and real assets debt.

The strategy’s third vintage will invest across the capital structure in companies with enterprise values of up to $3bn, and surpassed its $1.25bn target.

The fund manager is launching its first opportunities fund to capitalise on an upcoming refinancing wave in Europe.

Following this year’s market volatility and lending supply-demand imbalances, David Brooks and Alice Cavalier of Arcmont Asset Management see what’s in store for capital solutions lenders next year.