The acquisition, expected to close in early 2026, will lead to the creation of Ares Systematic Credit, a new arm within Ares' $377bn Credit Group that will combine data science, technology, and fixed-income expertise to deliver scalable investment solutions. Founded in 2018 by Alex Khein and Hugh Willis, both former BlueBay Asset Management executives, BlueCove has built a proprietary investment platform that applies systematic and data-driven methods to credit markets, spanning high-yield, investment-grade, and convertible bonds. Ares first invested in BlueCove through a minority stake in 2023. Since then, BlueCove's assets under management have tripled to $5.5bn, driven by institutional demand for quantitative credit strategies. Michael Smith, Co-Head of Ares Credit Group, commented: 'Since first partnering with BlueCove, the business has grown from strength to strength, further solidifying our conviction about the future of systematic credit investing.' BlueCove CEO Alex Khein...
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