: Ares, Goldman wrap up big private equity funds


Ares Management Corp. ARES, +0.86% said Wednesday it raised $5 billion in commitments for its Infrastructure Debt Fund V, which makes investments in the digital, utilities, renewables, energy and transportation businesses. Patrick Trears, partner and global head of Ares Infrastructure Debt, led the effort, along with Michael Smith, partner and co-head of the Ares Credit Group. Meanwhile, Goldman Sachs Group Inc. GS, +1.24% said Tuesday it raised $1.6 billion for the final close of Horizon Environment & Climate Solutions I, its first fund to invest in clean energy, sustainable transportation, waste and materials, sustainable food and agriculture, and ecosystem services. Julian Salisbury, chief investment officer for the bank’s Asset & Wealth Management unit, led the effort, along with Ken Pontarelli, head of sustainable investing for private markets at Goldman Sachs Asset Management.

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