Ares Private Equity Low Returns
Read an article recently that references a 4.8% net IRR for Ares Management's $8B flagship PE fund closed in 2017. Seems low for this kind of vehicle, given how market valuations have increased much more than that since then.
Anyone know why returns are so low? Apparently they're currently in the market for an even bigger follow on fund. Why would investors give them even more money with those returns?
Article in question: https://nypost.com/2021/05/25/atlanta-hawks-owner…