Ares Management Closes $5.3B for Infrastructure Secondaries Platform 

Ares Management Corporation (NYSE: ARES) has raised approximately $5.3 billion for its Infrastructure Secondaries strategy, including the final close of its latest flagship fund, Ares Secondaries Infrastructure Solutions III (ASIS III), alongside general partner commitments and affiliated vehicles. The fund, which exceeded its $2 billion target to reach $3.3 billion in equity commitments, is more than three times larger than its 2021 predecessor and stands among the largest infrastructure secondaries capital raises ever completed. 

ASIS III will target a diversified portfolio of seasoned private infrastructure assets through a range of secondary transaction types, including preferred equity structures, GP-led continuation vehicles, and traditional LP interest acquisitions. The fund’s flexible mandate allows Ares to tailor liquidity and capital solutions to meet the needs of both investors and asset managers across global infrastructure markets. 

“Over the last four years, our secondaries business has accelerated its scaling and differentiation to meet the growing demand for creative liquidity solutions, leveraging the resources, capabilities and relationships of the global Ares platform,” said Blair Jacobson, Co-President of Ares. “We have continued to emphasize product specialization across asset classes, including infrastructure, as we seek to better support private markets investors through cycles.” 

Ares’ Infrastructure Secondaries strategy sits within the broader Ares Secondaries Group, which manages nearly $34 billion in assets across infrastructure, real estate, private equity, and credit as of June 30, 2025.