Ares Management expands credit book with new stakes in BDCs and Integer Holdings
The alternative asset manager initiated positions in medical device maker Integer Holdings and two business development companies, while liquidating its stake in New Mountain Finance.
Alternative asset manager Ares Management has disclosed a series of new and increased holdings in its quarterly 13-F filing with the U.S. Securities and Exchange Commission, covering the period ending 31 March 2026. The filing, submitted on Friday, outlines the firm’s strategic positioning across direct lending funds and other alternative asset vehicles.
The disclosure comes as Ares Management reported raising a record $30 billion in capital during the first quarter of 2026. Alongside this capital influx, the firm initiated a $53.3 million position in medical device manufacturer Integer Holdings as of the end of March.
Ares also made its first-time investments in two business development companies (BDCs): BlackRock TCP Capital and Carlyle Secured Lending. BDCs are entities that raise equity and pair it with leverage to lend to small and mid-sized companies. The asset class has recently faced headwinds, including scrutiny over lending standards and concerns that artificial intelligence could disrupt the software businesses to which many BDCs have extended credit.
Beyond the new entries, the asset manager increased its stakes in 17 other holdings. These additions included Golub Capital BDC, Blue Owl Technology Finance, and its own listed vehicle, Ares Capital Corp. The filing indicates a continued preference for established credit platforms amidst the broader market volatility affecting the sector.
In a shift from its accumulation strategy, Ares Management’s only divestment reported in the filing was the liquidation of its stake in New Mountain Finance. The lender had previously sold a portfolio of $477 million in assets in February 2026. The specific rationale for the sale was not detailed in the filing.
