According to media reports on Thursday, citing people familiar with the matter, Ares Management was forced to cut a private equity credit fund of 1 billion euros due to investors objecting to loan valuations to be injected into so-called “continuation funds.” The report said that since potential investors in the new fund insisted on a larger discount on the loan value than Ares could accept, the leading private equity firm reduced the size of the fund to about 400 million euros.

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