# direct lending fund that will target approximately $20 billion.

*business · news · 2026-04-10 · Benzinga*

## Key points

- Ares Management is planning a $20 billion flagship U.S. direct lending fund for summer launch.
- Ares has begun initial investor conversations, but fund details may still change.
- Barings capped redemptions after investors tried to withdraw 11.3% of shares in Q1.
- Many semi-liquid private credit vehicles are now overwhelmed by withdrawal requests, prompting caps.

**Companies:** Blackstone, Goldman Sachs, Morgan Stanley, JPMorgan Chase & Co., Ares Management
**Countries:** United States

[Read the full story on Benzinga](https://www.benzinga.com/markets/private-markets/26/04/51763212/ares-targets-20-billion-for-new-private-credit-fund)

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