Ares hires ex-CapitaLand executive Gabriel Fong as Asia credit partner

[SINGAPORE] Ares Management has hired former CapitaLand Investment executive, Gabriel Fong, as partner for Asia credit, focusing on special situations, according to people familiar with the matter.

Fong, who started on Monday (Jan 5), will oversee North Asia, including China, Hong Kong and South Korea, and report directly to Edwin Wong, head of Asia credit, the people said, who asked not to be identified discussing private matters. Partner Dinesh Goel will manage the rest of the region, covering Australia, India and South-east Asia, the people said.

A spokesperson for Ares declined to comment.

Fong’s appointment comes as Ares expands across Asia-Pacific, a push underway since 2020. The Los Angeles-based investment firm had been seeking a partner-level executive to join its leadership team, Bloomberg News reported in November.

The firm’s purchase of distressed debt player SSG Capital Holdings in 2020 marked its entry into Asia’s credit markets. In 2022, Ares bought AMP Capital’s infrastructure debt platform in Australia.

More recently, the firm bolstered its private equity capabilities by buying over Crescent Point Capital and assuming control of key funds from Indonesian firm Northstar Group.

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Ares is raising another Asia special situations fund, aiming for at least the US$2.4 billion secured by its predecessor in 2023, Bloomberg News reported earlier. The firm oversees US$596 billion of assets globally, according to its website. BLOOMBERG