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.
Key Points
- 1Announces closing of ~$850 million Convergint continuation vehicle, led by Leonard Green's Sage Fund
- 2Highlights BofA's view that private credit quality remains strong, labeling Ares a 'fire sale' opportunity
- 3Signals opportunity for investors to access secular private-credit growth through Ares' diversified alternative-platform
Scoring Rationale
Current, credible deal and analyst note give useful sector insight; novelty and scope are moderate and relevance to data-science readers is low, yielding a mid-range score. Article is fresh (published today) and sources (Ares, BofA) support credibility.
Sources
Public references used for this report.
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