Backdoor Private Credit Funds Lure Insurance Industry Billions [Yahoo! Finance Canada]
Ares Management Corporation Class A (ARES)
Last ares management corporation class a earnings: 2/13 06:00 am
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The vehicles, known as rated feeders, package stakes in private debt funds into bonds, making it cheaper for insurers to buy them by effectively cutting the amount of capital that they need to hold against those investments. The transactions aren't public and therefore hard to track, but virtually every private credit manager has begun taking advantage of the structure, market watchers say. Ares Management Corp. used one as part of its record-breaking capital raise earlier this year. Blackstone Inc., Carlyle Group Inc. and KKR & Co. have also utilized them, according to documents seen by Bloomberg and people familiar with the deals. Kroll Bond Rating Agency has graded over $20 billion of the products since the start of 2021, and says this year is on pace to be the busiest yet. Rated feeders are part of a broader push by private credit firms to convince the US insurance industry, which controls trillions in long-term capital, to pour money into the asset
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ARES
Earnings
- 11/1/24 - Miss
ARES
Sec Filings
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- ARES's page on the SEC website