Key Takeaways
- • Ares Management has launched a private equity business in Australia and New Zealand, expanding its alternatives footprint in the Asia-Pacific region beyond its existing credit fund operations.
- • Nicholas Onie, a principal at Bain Capital, has joined Ares as Managing Director and Head of ANZ Private Equity to build and lead the new business from Sydney.
- • The move addresses growing institutional and high-net-worth investor demand in Australia and New Zealand for private equity exposure and private markets access.
- • Ares previously raised A$2.6 billion (£1.3 billion) for a leveraged credit fund serving Australia and New Zealand, establishing the firm's regional infrastructure ahead of the PE launch.
- • The expansion reflects a broader competitive trend, with major global alternatives firms including Warburg Pincus and Ares establishing dedicated Asia-Pacific offices to capture regional deal flow.
Summary
Ares Management has established a dedicated private equity platform in Australia and New Zealand, signaling the alternatives giant's commitment to deepening its presence in the region's institutional and private wealth markets. The initiative centers on Nicholas Onie, a Bain Capital principal who has departed to become Managing Director and Head of ANZ Private Equity at Ares, based in Sydney. Onie has been tasked with building out a new investment team and scaling private equity dealmaking across the two markets.
The launch addresses a structural gap in the market: high-net-worth and institutional investors in Australia and New Zealand have increasingly sought exposure to private equity strategies, but few major global operators had dedicated regional capabilities to serve this demand. Ares' entry positions the firm to capture this growing capital pool while leveraging its existing credit platform in the region, which raised A$2.6 billion in its first close for the Ares Australia Credit Fund—the firm's inaugural leveraged buyout vehicle for ANZ markets.
The hire of Onie from Bain Capital underscores the competitive intensity for talent in alternatives management. Bain Capital has built a reputation for developing dealmakers with consulting backgrounds and operating expertise—characteristics that Ares seeks to replicate as it scales regional operations. Onie's appointment signals Ares is prioritizing experienced, battle-tested investment professionals to establish credibility with institutional LPs and co-investors in a market where track record and relationships are paramount.
The timing aligns with a broader regional trend. According to Bain & Company's Asia-Pacific Private Equity Report 2025, major alternatives firms including Warburg Pincus and Ares have been establishing dedicated offices across Asia-Pacific markets to access higher growth rates and emerging deal flow. Australia, as a sophisticated institutional market with substantial pension fund and family office capital, represents a strategic priority. Ares' credit fund success—combined with the region's favorable regulatory environment and growing appetite for alternative returns—positions the new PE platform for meaningful growth.
The launch addresses a structural gap in the market: high-net-worth and institutional investors in Australia and New Zealand have increasingly sought exposure to private equity strategies, but few major global operators had dedicated regional capabilities to serve this demand. Ares' entry positions the firm to capture this growing capital pool while leveraging its existing credit platform in the region, which raised A$2.6 billion in its first close for the Ares Australia Credit Fund—the firm's inaugural leveraged buyout vehicle for ANZ markets.
The hire of Onie from Bain Capital underscores the competitive intensity for talent in alternatives management. Bain Capital has built a reputation for developing dealmakers with consulting backgrounds and operating expertise—characteristics that Ares seeks to replicate as it scales regional operations. Onie's appointment signals Ares is prioritizing experienced, battle-tested investment professionals to establish credibility with institutional LPs and co-investors in a market where track record and relationships are paramount.
The timing aligns with a broader regional trend. According to Bain & Company's Asia-Pacific Private Equity Report 2025, major alternatives firms including Warburg Pincus and Ares have been establishing dedicated offices across Asia-Pacific markets to access higher growth rates and emerging deal flow. Australia, as a sophisticated institutional market with substantial pension fund and family office capital, represents a strategic priority. Ares' credit fund success—combined with the region's favorable regulatory environment and growing appetite for alternative returns—positions the new PE platform for meaningful growth.
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