Coller Strikes $1.3 Billion Credit Secondaries Deal With Ares

Secondaries firm Coller Capital closed a deal to extend the life of an Ares Management Corp. private credit portfolio, amassing more than $1.3 billion in total commitments.

The deal will transfer a 2018-vintage portfolio of first-lien, floating-rate loans to sponsor-backed middle-market companies into a new continuation vehicle that will continue to be managed by Ares, according to a statement Tuesday.