BOSTON, February 11, 2026 – Proskauer advised an Ares U.S. Direct Lending fund ("Ares") on the closing of a continuation vehicle with over $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. The vehicle provides an attractive liquidity option to the fund's existing investors as well as the opportunity to maintain continued exposure, and offers new investors access to a well-performing, seasoned senior credit portfolio.
The Proskauer team was led by partners Carter Noon and Galen Lewis (Private Funds), Kunal Dogra (M&A) and Janicelynn Park (Tax). It also included partners Mike Suppappola, Chip Parsons, John Beck and Jenn Hicks (Private Funds), and Jim Poindexter (Tax); as well as associates Maegan O'Rourke, Saika Suzuki, Rebecca Elsner and Ed St. Vil (Private Funds); associates Sean Webb, Julia Varoutsos and Rosa Kim (Tax); and associates Jack Morant, J. Ryan Murphy, Kat Xu and Bryanna Wilbor (M&A).