Key Takeaways
- • Ares Management is providing a $100 million net asset value (NAV) facility to Dubai-based multifamily office Patrimium, according to a company statement reported by Bloomberg.
- • The transaction is described by Ares as among the region's first NAV financings involving a global alternatives firm, signaling growing private credit activity in the Gulf.
- • The facility was originated through Ares' $46.7 billion Alternative Credit strategy, an investor in asset-based finance, within a firm that manages over $595 billion overall.
Summary
Ares Management is providing a $100 million facility to Patrimium, a Dubai-based multifamily office, as global finance firms expand their pursuit of private credit opportunities in the Gulf region, according to Bloomberg. The financing takes the form of a net asset value (NAV) facility, a structure in which lending is secured against the value of an investor's underlying portfolio of assets.
According to a statement from Ares, the transaction is among the region's first NAV financings involving a global alternatives firm. The deal was completed through Ares' Alternative Credit strategy, which had $46.7 billion in assets and invests in asset-based finance. Ares overall manages over $595 billion.
The transaction highlights the increasing interest of international alternative asset managers in Gulf-based wealth and investment platforms, as private credit providers seek new markets and structures outside traditional lending channels. The source material does not provide further details on the terms, duration, or pricing of the facility.
According to a statement from Ares, the transaction is among the region's first NAV financings involving a global alternatives firm. The deal was completed through Ares' Alternative Credit strategy, which had $46.7 billion in assets and invests in asset-based finance. Ares overall manages over $595 billion.
The transaction highlights the increasing interest of international alternative asset managers in Gulf-based wealth and investment platforms, as private credit providers seek new markets and structures outside traditional lending channels. The source material does not provide further details on the terms, duration, or pricing of the facility.
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