Ares Management Corporation has said that recent redemption requests from one of its private credit funds were largely driven by investors outside the United States and were concentrated among smaller institutions and family offices, rather than broad-based institutional selling, according to a report by Reuters.
Speaking at the Morgan Stanley US Financials Conference in New York, CEO Michael Arougheti said withdrawal requests amounted to roughly 11% of the fund, affecting fewer than 5% of total...
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