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Ares Strategic Income Fund (ASIF)

Ares Management's flagship interval fund — a diversified, multi-strategy credit fund focused on opportunistic credit, structured credit, and direct lending. Quarterly liquidity at NAV, $2.5K minimum, designed for the wealth channel.

AUM
$5.2B
Target Return
8–10%
Minimum
$2.5K
Liquidity
Qtrly
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Fund typeInterval fund
Investor typeRetail (no accreditation req.)
Mgmt fee1.40%
Incentive fee10% over 6% hurdle
SubscriptionDaily at NAV
RedemptionQuarterly, 5% cap
InceptionSep 2022
CustodianPershing

Strategy

ASIF is a multi-strategy credit interval fund offering retail investors access to Ares' institutional credit platform. The fund dynamically allocates across direct lending, opportunistic credit, structured credit, and liquid credit — calibrating positioning to the credit cycle. As an interval fund, no accreditation is required.

Direct Lending · 45%

First-lien senior secured loans to U.S. middle-market companies. Floating rate, conservative LTV.

Opportunistic Credit · 25%

Higher-yielding subordinated, mezzanine, and structured positions. Active sourcing from Ares' global credit team.

Liquid Credit · 20%

Broadly syndicated loans and high-yield bonds. Provides the liquidity sleeve for quarterly redemptions.

Structured / Other · 10%

CLO equity tranches, asset-based lending, and tactical allocations. Adds yield diversification.

Performance

Net of fees. Annualized. Past performance does not guarantee future results.

0% 5% 10% 15% 20% PEC S&P 500 Q3'23Q4'23Q1'24Q2'24 Q3'24Q4'24Q1'25Q2'25 Q3'25Q4'25Q1'26
YTD
4.2%
Trailing 1yr
9.6%
Since inception (ann.)
8.4%
Distribution yield
8.7%

Data Room

All fund documents — tracked access, versioned, audit trail on every download. Direct sync with KKR's investor portal.

Private Placement Memorandum (PPM)
v2.4 · Updated Feb 2026 · 248 pages
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Fund Fact Sheet
Q1 2026 · Updated Apr 2026 · 2 pages
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Q1 2026 Quarterly Report
Latest · Released Apr 28, 2026 · 36 pages
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Subscription Agreement
Pre-populated with client data via Orion CRM
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Form ADV Part 2A
Ares Capital Management · Updated Mar 2026
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Side Letter Template
For QPs and institutional investors
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Orion DD Notes

From Orion's investment committee review · Q1 2026

  • Manager pedigree: Ares Credit Group is one of the largest credit managers globally — $295B+ AUM across direct lending, opportunistic, structured, and liquid credit.
  • Retail-friendly: Interval fund structure means no accreditation required. Lower minimum ($2.5K) opens the strategy to mass-affluent Orion clients.
  • Tax efficiency: 1099 reporting (not K-1). Simpler tax treatment than partnership-form private credit funds — significant advisor-workflow benefit.
  • Third-party validation: Mercer rated B+, Wilshire approved. Most popular interval fund in the Orion lineup by advisor uptake.
  • Watch item: Interval funds carry 5% quarterly redemption gates. Communicate liquidity expectations clearly with the client during the suitability discussion.

Investment Team

MA
Michael Arougheti
CEO, Ares Management
KR
Kipp deVeer
CIO, Ares Credit Group
JC
Joel Holsinger
Co-Portfolio Manager, ASIF

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