NEW YORK, February 12, 2026 – Proskauer advised certain funds of Ares Management Corporation (NYSE: ARES) ("Ares"), a leading global alternative investment manager, on the arrangement of a $2.4 billion debt facility to Vantage Data Centers ("Vantage"), a leading global provider of hyperscale data center campuses. Ares holds approximately $1.6 billion of the commitment and funded approximately $330 million at closing.
The new debt facility will be used to refinance existing indebtedness and support the development, construction and operation of data centers across Vantage's North America portfolio. The Vantage portfolio is one of the largest and most diversified data center platforms in North America with 17 campuses reflecting a combined 4 GW+ of IT load capacity, supporting primarily cloud as well as AI technologies across key markets.
The Proskauer team was led by partners Ally de Padua and Justin Breen (Global Finance). It also included associates Abid Khalid, Chi-Yu Huang, Matthew Cole, Gregory Dewire and Jacob Frank (Private Credit & Leveraged Finance); partner Dylan Conn (Capital Markets); partner Paul Polking and associate Christopher Mercurio (Real Estate); partner David Miller and special tax counsel Amy Zelcer (Tax); and partners Chip Parsons and Kerry Fitzgerald Shriver (Private Investment Funds).