Ares Management has continued the industry’s drive to tap private wealth for private credit funds.

Ares Management announced the launch of its Ares Strategic Income Fund (“ASIF”) – primarily to invest in directly originated, senior secured floating-rate loans to US mid-market companies. The fund fund has launched with approximately $1.5bn in investible capital – including over $847m equity commitments and $625m credit facility commitments.

The fund will be distributed through Ares Wealth Management – through US investment and financial advisors.

Tapping high net worth individuals for private credit funds by Ares and others is providing a source of growth in supply for the private credit market.