Ares Private Credit Fund Posts Steepest Monthly Loss on Record
245 Park Avenue, which houses Ares Management Corp. offices, in New York,.
Photographer: John Taggart/BloombergA private credit fund managed by Ares Management Corp. posted its steepest monthly loss on record in February, providing further evidence of deteriorating performance in the $1.8 trillion private credit market.
The Ares Strategic Income Fund, a non-traded business development company created in December 2022, lost 0.68% in February, according to Bloomberg calculations based on the fund’s regulatory filings. February was the worst month for the broader leveraged loan market since September 2022.