Kirkland Advises Coller Capital on Leading Ares’ Private Credit Continuation Vehicle

Kirkland & Ellis advised Coller Capital on the closing of a continuation vehicle for Ares U.S. Direct Lending’s 2018-vintage fund with more than $1.3 billion in total commitments. The continuation vehicle comprises a diversified portfolio of first-lien, floating-rate loans to U.S. middle-market companies backed by leading private equity sponsors. Ares will continue to manage the portfolio through its remaining lifecycle alongside new and existing investors.

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The Kirkland team included investment funds lawyers Társis Gonçalves, Richard Hughes, Tana Wilner de Keller and Chris Marano; transactional liability lawyers Hayley Hollender and Anna Geml; debt finance lawyers Stewart Ross and Leonard Kim; investment funds regulatory lawyers Nick Losurdo and Nicole Horowitz; and tax lawyers Lee Morlock and Beatriz Capeloa Gil.