LONDON, September 14, 2026 – Proskauer advised funds managed by Ares Management Limited (Ares) in connection with the launch of Ares European Fund Financing CLO I, a €708 million new-issue European collateralised loan obligation (CLO) transaction, the biggest European CLO transaction in the 2.0 era, since 2008. The deal, which priced on 10 September, is arranged by Goldman Sachs and involves the securitisation of assets from an existing Ares fund.

Ares is a global alternative asset manager with investment activities spanning tradable credit, direct lending, private equity and real estate.

The Proskauer team was led by partner Konstantinos Vavelidis and included special finance counsel Peter West and associate Sanaya Sabavala (Structured Credit). The team also included partners Daniella Abel and Richard Corn and associates Maria Fetzer, Luis de Freitas and Jacqueline Watson (Tax); and partner Adam Scoll (ERISA).

About Proskauer

Proskauer is an elite global law firm with more than 900 lawyers in key financial centers in the United States, Europe, South America, and Asia. Our clients include many of the world’s leading businesses, including asset managers, banks, listed corporations, and private companies. We have deep expertise in several of the fastest-growing and dynamic segments of the market, including sports, technology, life sciences, and health care. We represent hundreds of asset managers across a wide spectrum of sectors and strategies, including private equity, private credit, hedge, real assets, secondaries, and capital solutions. 

Proskauer’s Global Finance Group is well positioned to engage in transactions around the world and includes an expanding focus on infrastructure transactions at the intersection of private equity and traditional project finance. Our clients include financial institutions, direct lenders, private equity sponsors, public and closely held companies, asset managers, investment funds, infrastructure investors and operators, private wealth funds and family offices. The diversity of our finance and capital market practices gives us unparalleled market knowledge of overlapping and evolving areas, and our representation of lenders and borrowers, issuers and underwriters provides us with the ability to appreciate critical deal points from the perspective of all parties to the transaction.