Overview
Ares Private Markets Fund (APMF) is a well-diversified private equity investment vehicle managed by Ares Management. The fund stands out for its strong focus on secondaries, providing investors with quicker capital deployment and reduced early-stage investment drag.
Key Strengths
- Diversified Exposure: A mix of GP-led and LP-led secondaries, structured solutions, and co-investments.
- Strong Performance: Annualized return of 14.23%, making it a competitive choice in private equity.
- Institutional-Grade Management: Operated by Ares, a global leader in alternative investments.
Investment Strategy
APMF heavily leans on secondaries (over 90% allocation), minimizing blind pool risk and providing exposure to mature assets. It invests primarily in North America (78%) with additional allocations in Europe (16%).
Potential Drawbacks
- Liquidity Constraints: Quarterly redemptions with a 5% NAV cap and early redemption fees.
- High Minimum Investment: Requires €25,000, which may not be accessible to all investors.
Final Verdict
APMF is a strong option for investors seeking diversified private equity exposure with an emphasis on secondaries. While its liquidity limits may not suit short-term investors, its institutional backing and solid returns make it a compelling choice for long-term private market exposure.



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