Ares Management (ARES) has emerged as the lead buyer for a private credit portfolio sold by Arcmont Asset Management in the market for secondhand stakes, Bloomberg reported Monday, citing people knowledge with the matter.

Arcmont Asset Management is moving loans from its third direct-lending fund into a new continuation vehicle, aiming to raise as much as $2.2 billion in the process, according to the report.

Pantheon is also a significant buyer in the continuation vehicle, according to the report.

Ares Management did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 112.87, Change: +0.85, Percent Change: +0.76