Ares Management acquires $3.5B lender finance portfolio from PacWest Bancorp

Ares Management (ARES) announced that certain funds managed by its Alternative Credit strategy have completed the acquisition of a $3.5B specialty finance loan portfolio from PacWest Bancorp (PACW). The Portfolio consists of high quality, senior secured, asset-backed loans with commitments of approximately $3.5B. The Portfolio, which was originated by PacWest’s Lender Finance unit, is backed by assets across a variety of industries and asset classes including consumer loans, small business loans, timeshare receivables, auto loans, asset manager and fund finance loans, residential real estate loans, and commercial real estate loans. Barclays provided exclusive financing to Ares on the transaction. Stephens served as exclusive financial advisor to PacWest Bancorp on the transaction.