Ares Commercial Finance

What Ares Commercial Finance does

Ares Commercial Finance (ACF) is the commercial finance platform of Ares Management Corporation (NYSE: ARES), providing senior secured credit facilities to middle-market and lower-middle-market companies across North America. Founded in 2014, ACF has originated 272 transactions totaling $3.2 billion in cumulative commitments as of March 31, 2026, spanning industries including manufacturing, distribution, wholesale, retail, consumer products and services, and healthcare (hospitals, skilled nursing facilities, and value-based care). Service offerings cover general refinancing, working capital and growth financing, acquisition financing, restructuring and turnaround situations, debtor-in-possession and exit financing, and special accommodation financing.

The platform's product set is a standard middle-market direct lending stack — revolving credit facilities, term loans, and asset-based structures — delivered through dedicated fund managers covering North America, with relationships typically held with the borrowers' CFOs and financial sponsors rather than through intermediaries. Recent transactions show a mix of sole-agency roles (e.g., the $150 million Lifted Trucks financing) and syndicated participation alongside peers such as Great Rock Capital, Wingspire Capital, InterVest Capital Partners, Siena Lending Group, and Benefit Street Partners, including notable facilities for Aledade ($500 million), SkyWater Technology ($350 million), A Crane Rental ($175 million), and Daramic.

ACF's business model generates revenue through interest income on outstanding loan balances plus origination and commitment fees on facility execution. Pricing is individually negotiated and not publicly disclosed. The unit is led by Head Ryan Cascade and Partners Mitch Drucker and Ryan T. Magee, with offices in Tarrytown, New York, operating as a division of Ares Management Corporation rather than a standalone entity. No proprietary technology, AI capabilities, or app-based delivery channel are referenced; the competitive moat rests on parent-brand credibility, deal-flow access via the Ares platform, and an established fund-manager coverage model.

Name

Ares Commercial Finance

Legal name

Ares Commercial Finance

Website

https://arescommercialfinance.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Ares Commercial Finance is the direct lending division of Ares Management Corporation, providing senior secured credit facilities to middle-market and lower-middle-market companies across North America in manufacturing, distribution, healthcare, and consumer sectors.

Ownership category

akta.pro rank

Product category

Commercial Lending

NAICS

Investment Banking and Securities Intermediation (523150), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Mortgage Bankers & Loan Correspondents (6162)

akta.pro primary industry

Debt Advisory & Financing Advisory (FSAEAGAD)

Keywords

• Asset-based lending
• Senior secured loans
• Middle market financing
• Commercial credit facilities
• Direct lending services

Headquarters

HQ city

Tarrytown

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Credit Facilities and Financing Services: Ares Commercial Finance provides credit facilities to middle market and lower-middle market companies, generating revenue through interest income and fees on financing arrangements including general refinancing, working capital/growth facilities, acquisition financing, restructuring/turnaround situations, debtor-in-possession/exit financing, and special accommodation financing.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Ares Commercial Finance (ACF) provides senior secured revolving facilities, term loans, and asset-based loans to middle market and lower-middle market companies across North America. Solutions cover general refinancing, working capital and growth financing, acquisition financing, restructuring and turnaround, debtor-in-possession and exit financing, and special accommodation financing. As of March 31, 2026, the platform reported approximately $3.2 billion in total commitments and 272 deals closed since inception in 2014.

Product overview

Ares Commercial Finance (ACF) is a commercial finance platform within Ares Management Corporation that provides credit facilities to middle market and lower-middle market companies across North America. The platform addresses a wide range of industries including manufacturing, distribution, wholesale, retail, consumer products and services, and healthcare sectors (hospitals, skilled nursing facilities). ACF delivers creative, flexible, and customized financing solutions including general refinancing, working capital/growth financing, acquisition financing, restructuring/turnaround situations, debtor-in-possession/exit financing, and special accommodation financing. Founded in 2014, ACF has $3.2 billion in total commitments and has closed 272 deals since inception.

Differentiator

Problem solved

Functional benefit

Products and services

• ACF Credit Facilities
• General Refinancing Solutions
• Working Capital and Growth Financing
• Acquisition Financing
• Restructuring and Turnaround Financing
• Debtor-in-Possession and Exit Financing
• Special Accommodation Financing

Quantifiable outcome

• 272 deals closed since inception
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves2 records

Expansion highlights5 records

Direct peers

• Great Rock Capital: Middle market asset-based and senior secured direct lender that has co-lent with Ares Commercial Finance on multiple deals, including the $175M A Crane Rental facility and the $350M SkyWater credit facility, making it one of ACF's most direct comparables.
• Wingspire Capital: Middle market senior secured direct lender that participated as a co-lender alongside Ares Commercial Finance in the A Crane Rental $175M facility, with a comparable focus on flexible, customized financing for lower-middle and middle market borrowers.
• Siena Lending Group: Asset-based lending and direct lending platform focused on middle market borrowers. Siena acted as sole left lead arranger on the $350M SkyWater credit facility in which ACF participated, making it a directly comparable ABL competitor.
• Benefit Street Partners: Middle market private credit manager that committed $212.5M to the $350M SkyWater credit facility alongside Ares Commercial Finance. It operates a comparable middle market direct lending franchise with similar borrower profiles.
• InterVest Capital Partners: Middle market senior secured lender that participated as a co-lender with Ares Commercial Finance on the A Crane Rental $175M facility, with a comparable focus on flexible financing for sponsor-backed middle market companies.
• White Oak Global Advisors: Alternative asset manager specializing in middle market direct lending, including asset-based, healthcare, and lender finance. White Oak is a well-known direct competitor to ACF in middle market ABL and unitranche lending.
• Varagon Capital Partners: Direct lending platform focused on senior secured loans to middle market companies, sponsored by leading life insurance companies. Varagon competes with ACF on middle market sponsor-backed financings with similar product offering and risk profile.
• MidCap Financial: Specialty finance firm focused on middle market asset-based and senior secured lending, owned by Apollo Global Management. Operates a similar direct lending model to ACF, including ABL, unitranche, and stretch senior loans, often as a co-lender in the same facilities.
• SLR Business Credit: Asset-based lender serving middle market borrowers, part of SLR Investment Corp. SLR Business Credit provides comparable ABL and senior secured facilities to the same middle and lower-middle market segments as Ares Commercial Finance.

Broad incumbents

• New Mountain Finance Corporation: Publicly traded business development company (BDC) managed by New Mountain Capital that provides senior, unitranche, and ABL financings to middle market companies. Operates as a broader incumbent in middle market credit with overlapping product and customer segments to ACF.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments5 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ares Commercial Finance