Ares Management Corporation and Mubadala Investment Company (“Mubadala”) announced the formation of a joint venture to invest in global credit secondaries opportunities. The joint venture, anchored by Mubadala, will initially aim to deploy approximately $1billion as it seeks to capitalize on the anticipated growth and substantial demand from General and Limited Partners for customized liquidity solutions for the credit secondaries asset class. The joint venture is anticipated to scale alongside the growing market opportunity.

The joint venture represents a key milestone for both organizations and will enhance Mubadala's positioning within the secondaries credit market, while enabling Ares to significantly scale its offering. The newly established strategy is a natural extension of Ares' leading Credit and Secondaries platforms, which respectively had approximately $214 billion and $22 billion of assets under management as of December 31, 2022. By leveraging Ares' track record and Mubadala's global footprint, the joint venture will benefit from access to a broader network, differentiated market intelligence, and new transaction opportunities.

ave Schwartz will serve as Partner and Head of the Credit Secondaries strategy and a member of the Ares Secondaries Executive Committee. He most recently served as Co-Head of Ares' U.S.DirectLending strategy, of which he was a founding member. The senior leadership team also includes Sebastien Burdel and Luca Salvato, both Partners in the Ares Secondaries Group and veterans of the secondaries industry, as well as Nate Walton, Partner and Head of the PrivateEquity Secondaries strategy and a member of the Ares Secondaries Executive Committee.