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Ares Announces $320 million IPO of Ares Dynamic Credit Allocation Fund

Ares Management announced that Ares Dynamic Credit Allocation Fund (ARDC) successfully priced an offering of 16 million shares at a price of $20.00 per share, for a total issuance of $320 million. The total issuance may reach up to $368 million should the underwriters exercise their over-allotment option in full, which may or may not occur.

Source: Market News Video