Ares Management (ARES) announced that it has raised over $2.3B of equity commitments from third parties, Ares and affiliates of Ares to support the long-term growth of Aspida Holdings, a life insurance and annuity company based in Durham, N.C. and supported by the Ares Insurance Solutions business. In addition, Aspida recently closed an oversubscribed offering of $700M in credit facilities bringing total capital raised to more than $3B. “After launching four years ago, Aspida has organically grown its platform to over $19 billion in total assets, as of September 30, 2024, by leveraging its scalable, user-friendly technology platform designed to deliver high quality customer service to its individual annuity and reinsurance clients. Moreover, Aspida maintains an open architecture sub-advisor selection, which underscores its focus on seeking to maximize returns for clients,” Ares stated.
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