Ares Management increased its exposure to private credit during the first quarter of 2026, according to its latest 13-F filing with the SEC. The firm initiated a stake in Integer Holdings valued at $53.3 million, added investments in BlackRock TCP Capital and Carlyle Secured Lending, and strengthened 17 previous positions, notably Golub Capital, Blue Owl Technology Finance, and Ares Capital Corp. The only divestment was the liquidation of its stake in New Mountain Finance.
Private credit technology as a growth driver 📈
Ares' move reflects a market trend: private credit continues to gain ground over traditional banking. The firm uses technological platforms for origination and credit analysis to manage complex portfolios. By increasing positions in vehicles like Golub Capital and Blue Owl, Ares leverages the liquidity and flexibility offered by corporate debt funds. The sale of New Mountain Finance, after divesting a $477 million portfolio in February, shows a strategic rotation.
Sell to buy: Ares' strategy with a bargain-hunting flavor 🛍️
Ares Management seems to have applied the logic of cleaning out the closet to make room for new clothes. It liquidated its stake in New Mountain Finance right after selling a $477 million portfolio. It's not that it didn't like it, but it preferred to reinvest in Integer Holdings and other assets. Like in January sales, the firm swapped one fund for several, hoping the new collection will yield more than the discarded item.