Ares Management Closes $850M Convergint Continuation

Ares Management Corporation announced on March 2 that it closed an approximately $850 million single-asset continuation vehicle for Convergint Technologies, led and underwritten by Leonard Green & Partners’ Sage Fund with participation from Goldman Sachs Alternatives. On March 18 BofA Global Research told TheFly that private credit and credit quality remain strong and called Ares a “fire sale” opportunity, highlighting secular growth in private credit.