Fund database › Private Credit
Ares ManagementLU3091050446Class IA-EUR
The Ares ELTIF brings European mid-market direct lending from Europe's largest direct-lending manager into retail format — designed as distributing, as an ELTIF 2.0, launched in 2025.
Monthly subscription and redemption — more frequent than the quarterly standard —, doubly capped per month and per quarter, measured in aggregate across the overall structure. No hard lock-up; redemptions in the first eighteen months incur a substantial charge.
Subscription from EUR 1,000 depending on share class — together with the monthly redemption, one of the most accessible credit ELTIFs; for retail and professional investors, registered in sixteen countries including Germany.
Monthly liquidity, a distribution focus and no entry hurdle make it the most direct challenger to the established credit ELTIFs — the early-exit charge is the mechanism securing this openness against short-term capital.
Figures for class IA-EUR (LU3091050446) · product data 12 Oct 2026 · sources: prospectus (as at August 2026), PRIIPs-KID — full list under 08 documents.
Since the data series began in Nov 2025, the unit price has gained 6.0% (cumulative, 0.8 years). The series is still short; valuations of private holdings arrive quarterly and smoothed.
10 monthly values · Source: secondary source (data portal) · Returns calculated by semiliquid.info from the NAV series, not an official provider figure. Taxes and dealing costs of reinvestment are not considered. Past performance is not a reliable indicator of future results. distribution policy not verified.
What the prospectus permits: Predominantly directly originated, senior secured, first lien floating-rate loans to European mid-market companies with covenant protection; complemented by a liquid sleeve of UCITS-eligible securities (mainly European high yield bonds) and cash
Taxonomy of semiliquid.info; only published values are used, nothing is estimated. The actual portfolio breakdown is in 03 Portfolio.
34 holdings; the five largest account for 122.4% of the fund. 18.0% is held in the liquidity reserve — enough for 9 months of maximum redemptions.
Focus according to fund documents: n/a
Focus according to fund documents: Europe 100%
Among the ten largest: 9 loans, 1 primary fund.
Motion Picture Licensing Corporation (MPLC) grants businesses and institutions umbrella licenses for the public performance of films and TV content from numerous studios and producers.
VetPartners is a veterinary group based in York that operates several hundred small-animal, farm and equine practices in the United Kingdom and continental Europe.
Envision Pharma Group is a UK services provider to pharmaceutical and biotech companies, offering medical communications …
Conscia is a Danish IT infrastructure and cybersecurity services provider delivering network, security and managed services to businesses.
UK company that, according to NACE code P84.13, provides services for the regulation and more efficient operation of businesses, for example in regulation and compliance.
French producer and marketer of halal meat and charcuterie products under the Isla Délice brand, including cold cuts and sausages.
UK IT services provider (NACE K62.90, other IT services) identified in the report only by the abbreviation "CSL". Its business model …
Unavets is a Spanish group of veterinary hospitals and small-animal practices that grows as a buy-and-build platform by acquiring independent practices.
Odevo (Sweden) provides property and homeowners' association management services for condominium associations …
Provider figures for the credit portfolio, not calculated by semiliquid.info. Providers report yield, remaining life and credit ratings under differing definitions — the basis of calculation is therefore shown with every figure. A comparison across funds only holds where the basis is the same.
Positions and shares according to the provider; short descriptions by semiliquid.info from public sources; Allocation according to the uniform semiliquid taxonomy; only published values are used, nothing is estimated.
With ongoing costs of 1.79%, class IA-EUR is below the median of the asset class (2.05%). On top comes a performance fee of 12.50% above a hurdle of 5%.
For 10,000 EUR this means roughly 179 EUR per year.
For 10,000 EUR, no charge on purchase and up to 500 EUR on redemption.
Based on the PRIIPs key information document of class IA-EUR, hence comparable across providers. Median: 32 Private Credit funds in this database, data run 16 Oct 2026.
Units can be subscribed monthly. The price is the NAV at the end of the previous month — it is not known when the order is placed.
complete Subscription Document by the cut-off, otherwise postponement
The notice period may be waived by the board of directors/delegate.
Price = NAV at the end of the previous month.
NAV as at the last calendar day of the month, NAV Release Date approx. 15th business day …
pre-funding: 1 business day before dealing day
An order placed today is invested in — days (—); the money is due on —. Miss the cut-off and you move to the next dealing day: cut-off —, invested from —.
| Frequency | monthly |
|---|---|
| Procedure | fully paid-in |
| Dealing day | 1st calendar day of the month |
| Cut-off | 15 calendar days before dealing day · 17:00 CET · (before the anchor date) |
| Price | previous month-end |
| NAV publication | NAV as at the last calendar day of the month, NAV Release Date approx. 15th business day of the following month |
| Payment | pre-funding: 1 business day before dealing day |
| Minimum investment | EUR 10,000 |
| Subscription limit | The Investment Manager may reject subscriptions or delay their acceptance, including for an entire subscription day |
| KYC / documents | complete Subscription Document by the cut-off, otherwise postponement |
| Revocation | a late order automatically rolls to the next dealing day; withdrawal of the order until 17:00 CET on the last business day before the dealing day |
| Business day | any day on which banks in each of Luxembourg, the United Kingdom and/or the United States are open for business (p. 56) |
Dates calculated from the prospectus rules (bank holidays: GB, LU, US); only the transfer agent’s confirmation is binding. Data as at 12 Oct 2026 · Documents: 08.
Units can be redeemed monthly — with a volume limit (Gate), lock-up 3 months. How quickly the money arrives and what happens if many want out at once is set out below.
Redemption request by 17:00 CET on the 1st business day of the month in which the redemption day falls, hence …
NAV per unit less redemption fee (up to 5%)
NAV at previous quarter-end (—)
NAV publication
A request made today is paid out on — — — days.
Shown without a date because the prospectus does not quantify: cut-off. The remaining markers are calculated from the prospectus rules.
Money typically within a quarter — on average 68 days from decision to cash.
Rank 7 of 112 · rank 3 of 31 in Private Credit · no lock-up · no fixed redemption fee
Confidence high — prospectus complete, dates calculated, no assumptions in the value · prospectus as at 15 Aug 2026 · score run 16 Oct 2026 · How 68 days become 55 pointsThe score measures how quickly and reliably you can get your money out according to the prospectus — not whether the fund is good.
| Character | redemption right |
|---|---|
| Frequency | monthly |
| Valuation day | last calendar day of the month |
| Notice | 17:00 CET · (counted from month-start) |
| Price | valuation day |
| Payout | 2 business days after NAV publication |
| Gate | 2% net of NAV at the previous quarter-end per month; in addition 5% per quarter on the NAV at the preceding quarter end as well as the ELTIF Redemption Limit under. |
| Scaled-back portion | carried forward automatically to the next dealing day |
| Redemption fee (max.) | up to 5% (discretionary) |
| Lock-up | fund-level, 3 months (fund launch) |
| Suspension | Force majeure, communication breakdown, valuation not ascertainable, liquidation resolution |
| Liquidity tools | Extension of the notice period, redemption in kind for professional investors only, suspension |
| Switch / transfer | no public trading market expected; transfer rights not addressed in the Annex |
| Compulsory redemption | in the case of a Prohibited Person, failure to maintain the minimum investment, loss of investor eligibility |
Monthly redemption as at the last calendar day of the month; request by 17:00 CET on the first business day of the same month. The volume is subject to a double cap: 2% of the aggregate net asset value per calendar month and 5% per calendar quarter, in each case measured against the aggregate NAV of the last calendar day of the previous quarter and aggregated across AESIF ELTIF, all Parallel Entities and the …
Two limits: 2% of the aggregate NAV per calendar month AND 5% per calendar quarter, in each case measured against the aggregate NAV as at the last calendar day of the previous quarter and aggregated across all Parallel Entities and the Aggregator. Both limits are tested in every month of the quarter. Surplus monthly capacity is carried over to the following month only within the same calendar quarter.
Dates calculated from the prospectus rules (bank holidays: GB, LU, US); only the transfer agent’s confirmation is binding. Data as at 12 Oct 2026 · Documents: 08.
16 classes. All cost and risk figures on this page refer to the basis class IA-EUR.
PRIIPs KID ✓: a key information document exists and is the source of the costs. —: no KID documented — the class is distributed outside the EEA or to investors not covered by the KID requirement, or the document is not available.
Who is behind the fund, where it may be distributed — and which documents were evaluated.
| Document | As at | Used for |
|---|---|---|
| Presentation | — | — |
| Prospectus | — | — |
| NAV series secondary source (data portal) | 31 Aug 2026 | Performance (01) |
| Positions and reserve | 31 Dec 2025 | Portfolio (03) |
All figures are taken from provider documents (product data as at 16 Oct 2026, distribution data as at 5 Oct 2026) and have not been conclusively verified.
Redemption monthly, with 2% gate per month. Subscribing today, it takes on average 68 days from decision to cash under the prospectus deadlines; a gate is not factored in.
Ongoing costs of 1.79% p.a. according to the PRIIPs KID for class IA-EUR; the median of the Private Credit funds in this database is 2.05%; plus a performance fee of 12.50%.
From 1,000 EUR in the smallest class in EUR.
Yes. According to our evidence, the fund is open to retail investors in Germany (as at 5 Oct 2026). The Access check shows the details.
As at 16 Oct 2026, no redemption restriction is documented for the Ares European Strategic Income ELTIF Fund. Under the prospectus a gate of 2% per month applies.
Same asset class, similar sub-strategy.
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Liquidity score in the “as of today” view with average days to cash. No recommendation, no ranking.