Ares Private Markets Fund (APMF)
FundsPrivate Equity

Ares Private Markets Fund (APMF)

Managed by Ares Management

Ares Private Markets Fund (APMF)

Ares Management logo

Managed by

Ares Management
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Ares Private Markets Fund (APMF) banner
Ares Private Markets Fund (APMF) is a diversified private equity investment vehicle designed to provide investors with exposure to private markets through a mix of secondary transactions, GP-led deals, primary commitments, structured solutions, and co-investments. By focusing heavily on secondaries, the fund seeks to acquire mature private equity assets, offering investors faster capital deployment and reduced early-stage investment drag. It targets a broad range of industries, with a core focus on buyout strategies and selective exposure to growth equity. Geographically, the fund is primarily North America-focused, with additional allocations in Europe and other global markets. Ares Management is a global leader in alternative investments, with deep expertise across private equity, private credit, real estate, and infrastructure. The firm’s dedicated secondaries team has a strong track record in sourcing, evaluating, and structuring transactions, providing access to high-quality private market opportunities. Through its expansive network and disciplined investment approach, Ares aims to generate strong risk-adjusted returns while offering liquidity features that make private equity more accessible to investors.

Key Statistics

Fund Size

€3,000M

Annualized Return

13.9%

Launch Year

2022

Min. Investment

€25,000

Availability

Open for public

Structure

Tender Fund

Product Category

Open-end

Domicile

United States

GP Type

Single

Liquidity Level

Semi-liquid

Management Fee

1.4%

Carry

12.50%

High Water Mark

No

Currencies

USD

Investor Eligibility

Accredited Investors

Liquidity Options

Quarterly redemptions (5% NAV cap)

Highlights

$3B+ assets by May 2025, three years after launch
276+ investments, 7,500+ underlying companies
~70% LP-led and ~25% GP-led secondaries; Ares Secondaries Group
$25,000 minimum; 1.4% fee + 12.5% incentive fee
Quarterly repurchases up to 5% of NAV; 2% early-repurchase fee

Key Information Document (KID) – EU Funds

KID Risk Indicator

? out of 7

Average Total Cost Level (KID)

4.86%

Allocations

Geographic Focus

Investment Strategy

Industry Focus

Portfolio Composition

None

Historical Performance

Information about fund

Secondaries-Anchored Private Equity for US Investors

Ares Private Markets Fund (APMF) is Ares’ secondaries-anchored evergreen private equity fund for US accredited investors: a tender fund launched in 2022 that passed $3 billion of assets in May 2025, with more than 276 investments and exposure to over 7,500 underlying companies. Roughly 70% is LP-led secondaries and a quarter GP-led, managed by the Ares Secondaries Group with more than 30 years of secondaries experience. Terms: $25,000 minimum, 1.4% management fee plus a 12.5% incentive fee, quarterly repurchases of up to 5% of NAV and a 2% early-repurchase fee. Total KID-style costs come to about 4.9% a year.

Key Figures (May 2025)

Assets

$3B+

Launched 2022

Investments

276+

7,500+ underlying companies

Mix

70 / 25

LP-led / GP-led secondaries

Fees

1.4% + 12.5%

Total costs ~4.9%

Liquidity

Quarterly

5% of NAV; 2% early fee

Minimum

$25,000

Accredited investors

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