Ares European Strategic Income ELTIF Fund
Overview
Strategy
AESIF ELTIF invests primarily in privately originated loans to UK and European mid‑market companies (c.€10m+ EBITDA), focusing on senior secured lending with capital preservation and low return volatility. The illiquid sleeve targets directly originated loans and select illiquid alternative credit investments, while a complementary liquid sleeve allocates to UCITS‑eligible and other liquid debt securities, chiefly European high yield bonds, to support diversification, liquidity management and tactical deployment.
Key terms
| Management Fee: | 1.25% | Up to stated maximum annual rate; payable monthly in arrears. |
| Management Fee Basis: | NAV | Based on month-end NAV before fee accruals, redemptions and distributions. |
| Performance Fee: | 12.50% | Two components. Income - 12.5% over 5% annualised hurdle with full catch-up; crystallises quarterly. Gains -12.5% cumulative realised gains net all realised losses/unrealised depreciation (full loss carryforward); crystallises annually. |
| Performance Fee Basis: | Net Investment Income, Realized Capital Gains | NII Returns (interest, dividends, specified fees net operating expenses) and cumulative realised capital gains net all realised losses/unrealised depreciation; income component assessed quarterly, capital gains annually, both with cumulative lookback. |
| Hurdle rate: | 5.00% | Income-based participation only; 1.25% quarterly hurdle (5.0% annualized) |
| Catch-up: | 100.00% | 100% catch-up on income-based allocation between 1.25% and 1.43% quarterly (5.72% annualized); then 12.5% thereafter |
| Front load (subscription): | 0.00% | Intermediary upfront commissions/placement fees may apply outside the fund. |
| Back load (redemption): | 5.00% | On NAV; up to 5.00% as determined by Investment Manager. |
| Servicing fee: | 0.75% | On NAV; paid to representatives for placement and investor servicing. |
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