Ares enters commercial finance sector with acquisition of Keltic

By Jennifer Chiou

New York, June 5 – Ares Management, LP announced that it has expanded into the commercial finance sector through its acquisition of Keltic Financial Services LLC and Keltic Financial Partners II, LP, which is a commercial finance company that provides asset-based loans to small and middle-market companies.

As part of the transaction, Ares acquired Keltic’s existing loan portfolio, which comprises roughly $155 million of commitments, and formed Ares Commercial Finance within Ares’ direct lending group, according to a press release.

Ares Commercial Finance will be based in New York and is anticipated to provide asset-based credit facilities ranging from $1 million to $30 million.

Ares Management is a Los Angeles-based asset manager.

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