Ares Infrastructure Fund’s August Raise Slows to $799.5 Million as NAV Slips

The fund also stretched its declared distribution schedule to year-end, giving shareholders payout visibility into January 2027.

August 20, 2026

Ares Core Infrastructure Fund sold $799.5 million of common shares in its August 2026 monthly closing, issuing roughly 32.3 million shares across its four classes and slowing the pace from the $1.12 billion it gathered a month earlier. The share count was finalized on August 19, with each class priced at the net asset value struck on July 31.

Per-share net asset value came in at $24.7711 for all four classes at that date, below the $24.8841 recorded a month earlier. Aggregate net asset value nonetheless climbed to roughly $6.14 billion on continued inflows, with portfolio investments carried at about $7.64 billion in fair value.

August Closing by Share Class

Class I again supplied the bulk of the month’s capital, followed by Class N:

• Class I: $431.3 million (17.4 million shares)
• Class N: $281.9 million (11.4 million shares)
• Class D: $52.7 million (2.1 million shares)
• Class S: $33.6 million (1.4 million shares)

The subscriptions were placed under the fund’s usual private-placement exemptions.

Payout Visibility Extended Into 2027

The gross monthly distribution held at $0.20830 per share across every class. Net of shareholder servicing and distribution fees, holders receive the full gross amount on Class I, $0.20304 on Class D, $0.19778 on Class N and $0.19042 on Class S.

The August payout goes to holders of record on August 31 and is now scheduled for on or about September 24, a day later than the fund had previously set. Alongside it, the fund declared identical gross distributions for September through December at the same rate, with the December payment landing on or about January 25, 2027.

Credit Sleeve Widens as Renewables Retake the Lead

The fund held eleven equity investments at July 31 with a combined fair value of about $6.08 billion. First lien senior secured loans accounted for 18.35 percent of portfolio investments, up from 13.16 percent at June 30, with common equity easing to 61.24 percent and preferred equity at 13.28 percent.

By industry, independent power and renewable electricity producers reclaimed the top position at 40.9 percent of fair value, narrowly ahead of oil, gas and consumable fuels at 39.9 percent, reversing the ordering disclosed for the prior month. Data centers held at 8.6 percent, with transportation infrastructure and electric utilities next.

Offering Approaches $7 Billion

Since the continuous offering began, the fund has issued about 278.3 million common shares for total consideration of $6,933.7 million, excluding shares issued through the distribution reinvestment plan. Class I accounts for roughly $4.96 billion of that figure, and management reiterated its intent to keep selling shares monthly.

The August intake follows a July closing that finalized at $1,120.6 million and pushed the fund’s asset base toward $5 billion. The report was signed by Chief Financial Officer and Treasurer Christina Oh.