Ares Hires CapitaLand's Gabriel Fong as Partner for Asia Credit

Ares Management Corp. has appointed Gabriel Fong, formerly of CapitaLand Investment, as a partner for its Asia credit operations. Fong will focus on special situations, particularly in North Asia, and will report directly to Edwin Wong, the head of Asia credit according to Bloomberg.

Fong's appointment marks a key step in Ares’ expansion strategy across the Asia-Pacific region, which has been underway since 2020. His role involves overseeing North Asia, including China, Hong Kong, and South Korea. Partner Dinesh Goel will manage the rest of the region, covering Australia, India, and Southeast Asia according to Bloomberg.

Ares has been building its credit capabilities in Asia by acquiring distressed debt players and infrastructure debt platforms. In 2020, the firm acquired SSG Capital Holdings, and in 2022, it purchased AMP Capital’s infrastructure debt platform in Australia. More recently, Ares expanded its private equity presence by acquiring Crescent Point Capital and taking control of key funds from Northstar Group according to Bloomberg.

Why Did This Happen?

Ares’ hiring of Fong comes as the firm seeks to strengthen its leadership team and expand its credit offerings in Asia. The move underscores the firm’s commitment to capitalizing on special situations and distressed debt opportunities across the region. Fong’s experience in real estate and credit is expected to bolster Ares' strategies in North Asia according to Bloomberg.

The firm’s focus on Asia has intensified in recent years, with strategic acquisitions and fund launches. Ares aims to raise another Asia special situations fund, targeting at least $2.4 billion, matching the size of its previous offering in 2023 according to Bloomberg.

How Did Markets Respond?

Market participants have taken note of Ares’ recent expansion moves and leadership hires. The firm’s AUM stands at $596 billion globally, according to its website. In its most recent earnings report, Ares Management exceeded Q3 2025 forecasts with revenue of $1.07 billion and record management fees of $971 million.

Ares Commercial Real Estate (ACRE), a subsidiary, also demonstrated strong financial performance in Q3 2025, with EPS of $0.10, surpassing forecasts by 2,677.78%. The company reported $162 million in repayments and declared a $0.15 per share dividend for Q4 2025.

Ares is also preparing for a potential credit cycle, with CEO Michael Arougheti expressing confidence in the firm’s positioning. The company raised its 2028 AUM target for semi-liquid wealth products from $100 billion to $125 billion and plans to exceed $93 billion in fundraising from 2024.

What Are Analysts Watching Next?

Analysts are closely watching Ares’ expansion into Asia and its ability to execute on distressed debt and special situations strategies. The firm’s performance in the region will be a key factor in its long-term growth and market position. Additionally, its recent acquisitions and strategic moves are being analyzed for their impact on AUM and AUM growth according to Bloomberg.

Ares is also looking to launch a new global digital infrastructure fund in 2026, signaling its interest in technology-driven real estate and credit opportunities. The firm’s ability to navigate market volatility and maintain strong AUM figures will be critical for investor confidence according to Investing.com.

With Ares Commercial Real Estate positioned to capitalize on real estate market value resets, the firm holds $173 million in available capital for institutional-quality investments. Despite strong Q3 results, future forecasts suggest potential challenges ahead, with EPS expected to dip slightly before a projected recovery in FY2026 according to Investing.com.