CION Ares Diversified Credit Fund Reaches $5 Billion Milestone
CION Ares Diversified Credit Fund recently surpassed $5 billion in total assets under management, according to CION Ares Management LLC – a joint venture between affiliates of CION Investments and global alternative investments manager Ares Management Corporation.
CION Investments manages and distributes alternative investment solutions for individual investors.
“We partnered with Ares on a diversified alternative credit fund in an interval fund structure back in 2017 because we believed that individual investors should have direct access to the same alternatives opportunities that institutions have been accessing for decades. Our consistent growth in fundraising has scaled rapidly as investors increasingly incorporate alternatives into their portfolio allocations, and we are delighted to reach the $5 billion milestone in assets under management,” said Mark Gatto, CION co-chief executive officer.
“[The diversified credit fund] offers the opportunity for several benefits including income, stability, and lower portfolio volatility through diversification away from public markets, and this combination has proved powerful in helping investors reach their goals,” said Gatto.
Currently distributed through a broad universe of registered independent advisers, independent broker-dealers and wirehouses, the fund invests in a diversified pool of illiquid and liquid credit investments. According to fund representatives, it employs a dynamic asset allocation framework and leverages the extensive operational resources, infrastructure, and origination network of Ares.
The DI Wire previously reported increases to the fund’s distribution rate in 2023, including a special distribution increase in the summer.
“The benefits of adding alternatives to individual portfolios have become more apparent as we’ve seen a prolonged period of uncertainty around interest rates. The economic outlook remains unclear, and the fund’s track record of adding value through all phases of the business cycle is even more compelling,” said Michael A. Reisner, CION co-CEO.
CION Ares Diversified Credit Fund is a continuously offered, diversified, non-traded closed-end management investment company that is structured as an interval fund. The fund’s investment objective is to provide superior risk-adjusted returns across various market cycles by investing in a globally diversified portfolio of liquid and illiquid credit assets. CION Investments is a leading open-source provider of alternative investments designed to redefine the way individual investors can build their portfolios and meet their long-term investment goals. CION Investments currently sponsors, through CION Ares Management, the CION Ares Diversified Credit Fund.
Ares Management Corporation is a global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. As of March 31, 2024, Ares Management Corporation’s global platform had approximately $428 billion of assets under management with approximately 2,900 employees around the world.
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