PacWest Bancorp | Stephens

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PacWest Bancorp

$2.0 Billion 06/22/2023 Specialty Finance Complete
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Transaction Details

• PacWest Bancorp ("PacWest") has entered into a purchase agreement to sell a portfolio of Lender Finance loans with an approximate aggregate commitment amount of $3.5 billion, including aggregate principal balance currently outstanding of $2.2 billion, to Ares Management Corporation.

• The first tranche closed on June 22, 2023, and loans with an aggregate commitment amount of $3.4 billion, including an aggregate principal balance of $2.1 billion, were sold, resulting in proceeds of $2.0 billion.

• The sale of the remainder of the portfolio is subject to customary closing conditions, including PacWest receiving certain required consents.

• Stephens served as exclusive financial advisor to PacWest in the transaction.

About the company

About PacWest Bancorp
Headquartered in Los Angeles, California, PacWest Bancorp (NASDAQ: PACW) is a relationship-based community focused on providing business banking and treasury management services to small, middle market, and venture-backed businesses. The Bank offers a broad range of loan and lease and deposit products and services through full-service branches throughout California and in Durham, North Carolina and Denver, Colorado, and loan production offices around the country.

About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2023, Ares Management Corporation's global platform had approximately $360 billion of assets under management, with over 2,600 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit

About Alternative Credit

Ares Alternative Credit pursues an asset-focused investing strategy, targeting investments in large, diversified portfolios of assets that generate contractual cash flows. Ares Alternative Credit invests across the capital structure and seeks opportunities in specialty finance, lender finance, loan portfolios, equipment leasing, structured products, net lease, cash flow streams (royalties, licensing, management fees), and other asset-focused investments. As of March 31, 2023, Ares Alternative Credit had approximately $24 billion in assets under management, deploying over $10 billion in the last twelve months. Our capital supports over 1,000 investments and allows us to participate in scale and commit up to approximately $1 billion in a single transaction. The team comprises more than 60 investment professionals globally. Aligning Ares' investment activities with its societal impact, Ares and Ares Alternative Credit portfolio managers have committed to donate a portion of the performance fees from Ares Alternative Credit flagship funds to support global health and education charities.
Source: Company Filings and Press Release
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