Dechert advises Ares on landmark transaction

2 Apr 2026Announcements

Dechert has successfully guided Ares Management as the primary capital provider for StepStone Group's new vehicle

Dechert has played a significant role in a landmark financial transaction, advising Ares Management Alternative Credit funds as the primary capital provider for StepStone Group's newly closed structured solutions vehicle. This vehicle has successfully attracted an impressive US$3.1 billion in debt and equity commitments, which are primarily set to be used for private market secondaries. Notably, this transaction stands as the largest of its kind in the global market thus far.

The Dechert team was led by corporate and securities partner Anthony Lombardi, who expressed his enthusiasm about the transaction. The team supporting Lombardi included finance and real estate partner John McGrath, counsel Eric Zeng, and associate Lara Stockley. Corporate and securities partner Giles Belsey contributed alongside associate Ben Atkins, while financial services partners Sam Kay and Abigail Bell were on board with associate Hannah MacDonald. Additionally, global tax partner Jeff Kang and associate Cindy J. Moon provided crucial input.

This milestone in capital investment marks a crucial development within the financial landscape, reflecting increasing interest in structured solutions and private market assets. The successful close of StepStone's vehicle not only highlights Ares's strategic positioning within the market but also demonstrates the efficacy of Dechert's advisory capabilities in executing high-profile transactions of this magnitude.

Legal News desk contact: editorial@solicitorsjournal.com

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