London | US investment group Ares has raised €11 billion ($16.6 billion) for one of the world’s largest private debt funds, as lightly regulated alternative lenders step up their attempt to supplant traditional banks and bond markets following the pandemic.
The fund will be the largest of its type in Europe, according to data from Preqin. It will lend money directly to medium-sized companies in the region that want or need an alternative to the typically cheaper funding routes of bank loans and bond markets.
