Ares Management has named partner Barry Miller as the CEO of its secondaries-focused Ares Private Markets Fund.
Miller joined Ares last summer after eight years as a partner in the Landmark Partners private equity group, focusing on origination, underwriting and negotiation of secondary private equity investments.
He was previously head of private equity at the New York City Retirement Systems, a partner at Pomona Capital and a senior investment manager at AXA Private Equity, with a career spanning 24 years in total.
Ares Private Markets Fund is targeting a diversified portfolio of private equity fund stakes backed by leading private equity sponsors in both the US and Europe.
Ares’ secondary solutions group had about $23.9bn in assets under management at the beginning of last month.
The firm agreed a $1bn buyout of secondaries private equity major Landmark Partners last November.
Landmark raised $7bn for its last flagship secondaries fund and co-investment vehicle, Landmark Partners XVI, in 2018, and is currently out eyeing up to $6bn for Landmark Equity Partners XVII.
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