According to media reports on Thursday, citing people familiar with the matter, Ares Management was forced to cut a private equity credit fund of 1 billion euros due to investors objecting to loan valuations to be injected into so-called “continuation funds.” The report said that since potential investors in the new fund insisted on a larger discount on the loan value than Ares could accept, the leading private equity firm reduced the size of the fund to about 400 million euros.

According to media reports on Thursday, citing people familiar with the matter, Ares Management was forced to cut a private equity credit fund of 1 billion euros due to investors objecting to loan valuations to be injected into so-called “continuation funds.” The report said that since potential investors in the new fund insisted on a larger discount on the loan value than Ares could accept, the leading private equity firm reduced the size of the fund to about 400 million euros.