CION Ares Diversified Credit Fund, a closed-end interval fund, raised a record $390 million during the first quarter of 2022, bringing its total managed assets to $3.1 billion.
“We are thrilled with the growth we’ve seen in this fund and its reception from our partners,” said Michael Reisner, CION co-chief executive officer. “This is a strong recognition of the fund’s value proposition, the appetite investors have for credit alternatives beyond fixed income, and the investment team’s rigorous approach to identifying valuable opportunities as the market shifts. The floating rate nature of the instruments held by the fund has driven strong investor demand as rates continue to rise and the trajectory of increases remains uncertain.”
CION Ares Diversified Credit Fund invests in illiquid and liquid credit investments, and is distributed through a network of registered investment advisers, independent broker-dealers, and wirehouses.
CION Investments, a manager of alternative investments, currently sponsors CION Investment Corporation (NYSE: CION), a publicly traded business development company that currently manages approximately $1.8 billion in assets, and also sponsors, through CION Ares Management, the CION Ares Diversified Credit Fund, an interval fund that currently manages approximately $3.1 billion in assets.
Ares Management Corporation (NYSE: ARES) is a global alternative investment manager with approximately $325 billion of assets under management.