Ares Management, a global alternative investment manager, and Mubadala, a global sovereign investor, agreed to form a $1bn joint venture, to invest in global credit secondaries opportunities. “We are pleased to announce this joint venture with Mubadala, which underscores our view that private credit secondaries offer a compelling opportunity for investors seeking diversified exposure to the attractive return profile of private credit assets. Building on our position as a leading global direct lender and a secondaries market pioneer, we believe the expansion of the Credit Secondaries strategy alongside Mubadala helps to further differentiate Ares in the market as a comprehensive solutions provider,” Michael Arougheti, Ares Management CEO and President.