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Ares Capital Corporation (NASDAQ: ARCC) announced today that its investment adviser, Ares Capital Management LLC, has added a team of eight venture finance professionals formerly with BlueCrest Capital Finance GP, LLC. The group is led by Bill DeMars, an experienced corporate lending professional with 33 years of experience, including 14 years in venture finance, and includes five other senior professionals. The team has executed more than 500 venture finance transactions with total commitments in excess of $1.3 billion.
The team will continue to service the portfolio company financing needs of venture capital firms by providing senior secured debt financing in such sectors as communications, information technology, semiconductors, hardware and software, electronics, clean and alternative energy and life sciences.
“We are delighted to welcome Bill and his team of experienced investment professionals to Ares,” said Michael Arougheti, President of Ares Capital. “They bring deep industry and transactional knowledge, close relationships and a demonstrated long term investment track record in venture finance dating back to 1998. The addition of this team will help us continue to pursue our ongoing strategy of exploiting growth opportunities within attractive sectors that provide strong risk adjusted returns in private debt.”
“Ares represents an excellent cultural and strategic fit for our group,” said Bill DeMars, Managing Director within the Ares Private Debt Group. “We are looking forward to being an integral part of the organization and executing upon the growing market opportunity with our time-tested business model.”
About Ares Capital Corporation
Ares Capital is a leading specialty finance company that provides one-stop financing solutions to U.S. middle market companies and private equity sponsors. The Company originates and invests in senior secured loans, mezzanine debt and, to a lesser extent, equity investments through its national direct origination platform. Ares Capital’s investment objective is to generate both current income and capital appreciation through debt and equity investments primarily in private companies. Ares Capital has elected to be regulated as a business development company, and is externally managed by a wholly owned subsidiary of Ares Management LLC. Ares Management is a global alternative asset manager and a SEC-registered investment adviser with approximately $46 billion of committed capital under management as of December 31, 2011. For more information, visit