Ares Backs Dubai Multifamily Office in Gulf Private Credit Push
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Ares Management is providing a $100 million facility to Dubai-based multifamily office Patrimium, as global finance firms step up their pursuit of private credit opportunities in the Gulf region. Ares said the net asset value financing to Patrimium is among the region’s first such transactions involving a global alternatives firm, according to a statement. It was done through Ares’ $46.7 billion Alternative Credit strategy, an investor in asset-based finance. Ares overall manages over $595 billion.