Aries, a private credit fund, recorded its largest monthly loss in February.

A private credit fund managed by Ares Management Corporation recorded its largest monthly loss in February, further proving that the $1.8 trillion private credit market performance is deteriorating. According to regulatory documents of the fund, Ares Strategic Income Fund dropped by 0.68% in February; this business development company was established in December 2022. February was the worst month for leveraged loan markets since September 2022. Including a slight loss in January, this fund, with assets under management of nearly $23 billion, has fallen by 0.7% year to date.