Antares Capital
Antares Capital is a Chicago-based private alternative credit manager originating senior secured, first-lien floating-rate loans to PE-backed U.S. and Canadian middle-market companies, serving institutional and insurance investors via closed-end funds, CLOs, BDCs, and SMAs, and managing approximately $90 billion in AUM.
- Company typePrivate
- Founded1996
- HeadquartersChicago, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Antares Capital does
Antares Capital is a privately held alternative credit manager founded in 1996 and headquartered in Chicago, operating a diversified credit platform across private credit, liquid credit, and liquidity solutions. The firm specializes in the direct origination of senior secured, primarily first-lien floating-rate loans to private-equity-sponsored U.S. and Canadian middle-market companies, typically acting as lead lender on more than 90% of transactions and serving as financing partner for 470+ borrower relationships. Capital is accessed through multiple institutional vehicles including the closed-end Senior Loan Fund series (~$3B in 2020, ~$6B in 2023, and ~$8.5B in 2026), a public non-trated Antares BDC (ABDC, launched 2025 with $1.4B+ in investible capital), private credit CLOs, rated feeder funds, collateralized fund obligations, and separately managed accounts, with additional adjacent strategies spanning syndicated loans, high-yield bonds, CLO equity, and private credit secondaries.
The platform is anchored by The Canadian Pension Plan Investment Board (CPPIB), which acquired Antares through its 2015 purchase of GE's sponsor finance business and provides long-duration capital alongside minority partner Northleaf Capital Partners. Antares reports approximately $90 billion in capital under management and administration as of December 31, 2025, invests over $30 billion alongside investors via its affiliated balance sheet, and operates offices in Chicago, New York, Los Angeles, Atlanta, Toronto, and London. The firm maintains ~400 PE sponsor relationships and has achieved a 0.07% average annual historical loss rate on its directly originated loan book since 2007, supported by a co-head origination structure in New York and Chicago, a centralized Investment Committee, and dedicated restructuring expertise.
Revenue is generated primarily through management fees and performance fees on the AUM base, with pricing not publicly disclosed and products custom-structured for institutional and insurance-balance-sheet investors including public and corporate pension funds, endowments, sovereign wealth funds, foundations, family offices, and insurance companies. GTM motion combines an enterprise field-sales model for direct sponsor and borrower origination with an institutional investor-distribution arm offering private credit exposure through commingled funds, SMAs, CLOs, and rated feeders, with broader advisor reach via the Schwab Alternative Investment OneSource platform.
Antares Capital firmographics
Firmographics- Name
- Antares Capital
- Legal name
- Antares Capital LP
- Website
- https://antares.com
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Antares Capital is a Chicago-based private alternative credit manager originating senior secured, first-lien floating-rate loans to PE-backed U.S. and Canadian middle-market companies, serving institutional and insurance investors via closed-end funds, CLOs, BDCs, and SMAs, and managing approximately $90 billion in AUM.
- Ownership category
- akta.pro rank
Antares Capital industry classification
Industry- Product category
- Alternative Credit Management
- NAICS
- Other Nondepository Credit Intermediation (52229), Portfolio Management and Investment Advice (523940)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Senior Secured Direct Lending (FSANADAA)
- akta.pro secondary industry
- Structured Credit (CDO/CLO Tranches, Credit Opportunities) (FSAAAHAH)
Keywords
Where Antares Capital is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
Antares Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Private Credit Management: Management fees and performance fees from managing private credit funds and portfolios. Revenue generated from originating and managing diversified portfolios of senior secured loans to middle-market companies.
Go-to-market motion2 records
Distribution channels6 records
Marketing channels5 records
Antares Capital product offering
Product offeringCore offering
Antares Capital is a diversified alternative credit manager that directly originates and manages senior secured, primarily first-lien floating-rate loans to sponsor-backed middle-market companies in the U.S. and Canada. The firm operates three core strategies — Private Credit (direct origination), Liquid Credit (broadly syndicated loans, high yield bonds, CLO equity), and Liquidity Solutions (private credit secondaries) — distributed through closed-end funds, CLOs, separately managed accounts, the public non-traded Antares BDC, and rated feeder vehicles to institutional investors, insurance companies, and financial advisors.
Product overview
Antares Capital operates as a diversified alternative credit platform offering three core strategies: Private Credit (direct origination of senior secured loans to middle-market companies), Liquid Credit (investments in syndicated loans, high yield bonds, and CLO equity), and Liquidity Solutions (private credit secondaries). The platform provides access through multiple vehicle types including closed-end Senior Loan Fund series, the public non-traded Antares BDC, Private Credit CLOs, Rated Feeder Funds, and Separately Managed Accounts. Insurance-focused solutions include Collateralized Fund Obligations and Collateralized Loan Obligations. All strategies are backed by CPPIB and leverage 400+ private equity sponsor relationships.
Differentiator
Problem solved
Functional benefit
Brands
- Antares BDC (ABDC): A public, non-traded private credit fund launched in 2025 with $1.4B+ in investible capital, offering continuous access to diversified portfolios of middle-market loans.
Products and services
- Private Credit Direct origination and management of senior secured, primarily first-lien floating-rate loans to sponsor-backed middle-market companies in the U.S. and Canada. Delivered to institutional investors, insurance companies, and other partners through the firm's commingled funds, CLOs, SMAs, and the Antares BDC.
- Liquid Credit Investment in syndicated loans, high yield bonds, and CLO equity, applying disciplined underwriting and platform insights to identify opportunity and manage risk across market cycles.
- Liquidity Solutions Flexible capital solutions across private credit secondaries, including LP- and GP-led secondary transactions, providing liquidity across private credit portfolios for investors.
- Senior Loan Fund III Closed-end commingled private credit fund providing diversified exposure to directly originated middle-market loans, focused on contractual income, capital preservation, and downside protection for institutional investors.
- Antares BDC (ABDC) Public, non-traded business development company offering continuous access to diversified portfolios of middle-market loans in a perpetual format.
- Private Credit CLOs Securitized vehicles backed by diversified portfolios of directly originated private credit assets, issued to institutional investors.
- Rated Feeder Funds Capital-efficient vehicles providing rated exposure to private credit strategies for insurance and other liability-driven investors, supporting capital efficiency through alignment with regulatory and rating frameworks.
- Separately Managed Accounts (SMAs) Customized vehicles designed to meet investors' specific investment objectives and allocation requirements with tailored portfolios, reporting, and liquidity features.
- Collateralized Loan Obligations (CLOs) Structured exposure to diversified loan portfolios through actively managed vehicles, offering scalable, tranche-based access across the capital structure.
- Collateralized Fund Obligations Securitized exposure to private credit funds through rated tranches, designed to provide diversification, structural protections, and alignment with insurance capital considerations.
Quantifiable outcome
- 0.07% average annual historical loss rate since 2007
- +2 more outcomes
Companies that use Antares Capital
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles4 records
Antares Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Antares Capital partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Ascot Group LimitedstrategicAscot Group and Antares announced a casualty sidecar partnership, expanding Antares' presence in insurance solutions.
Scale indicators10 records
Recent moves9 records
Expansion highlights6 records
Antares Capital competitors and assessment
Company assessmentDirect peers
- Golub Capital: Direct, focused middle-market direct lender with similar PE-sponsor-backed senior secured loan origination franchise. Closest comparable on core business model (unitranche, first-lien loans to sponsor-backed companies), though generally considered a tier-two manager relative to Antares.
- HPS Investment Partners: Leading large-cap and middle-market direct lender founded 2007, now affiliated with Mitsubishi UFJ. Closely comparable on senior secured direct lending franchise model and PE-sponsor relationship-led origination.
- Sixth Street: Global private credit and direct lending manager with strong insurance-balance-sheet capital relationships. Direct competitor in senior-secured sponsor-backed lending and adjacencies such as rated feeder structures.
Broad incumbents
- Ares Capital Corporation: Largest publicly traded BDC and broader Ares Credit franchise, including direct lending, liquid credit, and asset-based finance. Directly comparable middle-market sponsor-backed lending focus; trades publicly and competes for the same sponsor relationships.
- Blackstone Credit: Blackstone's flagship private credit platform, the largest in the industry by AUM. Competes across direct lending, CLOs, and liquid credit, with materially greater scale and balance sheet than Antares.
- KKR Credit: KKR's global credit franchise spanning private credit (direct lending), liquid credit, real estate credit, and special situations. Has participated alongside Antares in several recent consortium deals (e.g., Medallia).
- Apollo Credit: Apollo Global Management's credit business, one of the largest alternative credit platforms globally with direct lending, asset-backed, and hybrid value strategies. Has partnered with Antares (e.g., GoodLife Group). Subsumes Athene capital base for insurance balance sheet.
- Bain Capital Credit: Bain Capital's flagship private credit platform offering direct lending, CLOs, structured credit, and special situations. Direct competitor in middle-market sponsor-backed lending.
- TPG Capital: TPG's broader alternative asset management platform, including TPG Credit (direct lending, specialty lending). Competes for sponsor relationships in middle-market lending.
- Oaktree Capital Management: Specialist alternative credit manager (now part of Franklin Templeton) with deep expertise in distressed and high-yield credit. Competes with Antares in the liquid credit and broader private credit arenas.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Antares Capital social profiles
Digital presenceAntares Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Antares Capital leadership team
Management profileNumber of profiles
Profiles19 records
Antares Capital subsidiaries and ownership
Company hierarchySubsidiaries3 records
Antares Capital funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Antares Capital M&A and investment
M&A and investmentM&A
Investments13 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Antares Capital
What does Antares Capital do?
Antares Capital is a diversified alternative credit manager that directly originates and manages senior secured, primarily first-lien floating-rate loans to sponsor-backed middle-market companies in the U.S. and Canada. The firm operates three core strategies — Private Credit (direct origination), Liquid Credit (broadly syndicated loans, high yield bonds, CLO equity), and Liquidity Solutions (private credit secondaries) — distributed through closed-end funds, CLOs, separately managed accounts, the public non-traded Antares BDC, and rated feeder vehicles to institutional investors, insurance companies, and financial advisors.
Is Antares Capital a public or private company?
Antares Capital is a private company. It is classified as corporate owned and is currently operating.
When was Antares Capital founded?
Antares Capital was founded in 1996. It employs 251 to 500 people.
Where is Antares Capital based?
Antares Capital is headquartered in Chicago, United States, in the North America region.
How does Antares Capital make money?
One revenue line is on record: private Credit Management.
Who are Antares Capital's main competitors?
Direct peers on record are Golub Capital, HPS Investment Partners and Sixth Street. Broad incumbents are Ares Capital Corporation, Blackstone Credit, KKR Credit, Apollo Credit, Bain Capital Credit, TPG Capital and Oaktree Capital Management.
Does Antares Capital have an API?
No public API is recorded for Antares Capital.
What industry is Antares Capital in?
Antares Capital's product category is Alternative Credit Management. Its primary akta.pro industry code is FSANADAA, Senior Secured Direct Lending, with a secondary code of FSAAAHAH, Structured Credit (CDO/CLO Tranches, Credit Opportunities). Its NAICS code is 52229 and its SIC code is 6159.