Ares US Real Estate Opportunity Fund III
Ares U.S. Opportunistic Strategy Track Record (¹)
Demonstrated track record that has exceeded target returns
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Manage over $1.7 billion of equity capital raised across two recent U.S. opportunistic funds, AREOF and AREOF II, and Related Vehicles
Of the 35 investments closed since 2012, 24 have been realized or substantially realized to date, and combined realized proceeds equal
130% of capital called to date
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As of June 30, 2020 ($ in Millions)
Vehicle
AREOF II &
Related
Vehicles
AREOF &
Related
Vehicles
AREOF II & Related Vehicles, which began investing in late 2015, is fully committed with $715 million in total equity commitments
and over $588 million in realized proceeds from 9 realized or partially realized investments
AREOF & Related Vehicles invested $732 million since 2012 and has realized proceeds equal to 164% of total committed capital
Total
Fund
Vintage (8)
2015
2012
Vehicle Size(⁹)
$1,000.9
$729.4
$1,730.3
Equity Realized
Committed (10) Proceeds (11)
Confidential - Not for Publication or Distribution
$715.1
$732.2
$1,447.3
$588.9
$1,201.1
$1,790.1
Projected
Unrealized
Proceeds(12)
$806.0
$12.7
$818.6
Total
Projected
Proceeds (13)
14
$1,394.9
$1,213.8
$2,608.7
Pro Forma Fair Value Returns Pro Forma Projected Returns
Gross / Net
IRR(1)(2)(3)5)
30% / 22%
20% / 14%
22% / 16%
Gross / Net
EM(1)(2)(3)(5)
1.5x / 1.4x
1.7x/ 1.5x
1.6x / 1.4x
Gross / Net
IRR(1)(2)(3)(4)
26% / 19%
20% / 14%
22% / 16%
Gross / Net
EM(1)(2)(3)(4)
2.0x / 1.7x
1.7x / 1.5x
As of June 30, 2020. Past performance is not indicative of future results. Please refer to endnotes on pages 65-66 for detailed information regarding the methodology used to calculate the
performance information in this table. Please refer to page 67 for a Summary of Vehicle Definitions.
ARES
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