Ares Core Infrastructure Fund’s October Raise Holds Steady at $767.8 Million

Class I shares still make up the bulk of the fund’s base, with more than 216 million outstanding at the end of September.

October 12, 2026

Ares Core Infrastructure Fund agreed to sell $767.8 million of common shares in its October 2026 monthly closing, keeping the private infrastructure vehicle's intake essentially level with September for a second straight month.

The October figure sits just above the $767.0 million the fund reported at the same stage a month ago, and slightly below the $769.0 million at which September ultimately closed. Both months remain well under the $1.12 billion the fund took in during July.

Pricing Awaits the September NAV

October subscriptions span all four share classes, Class I, Class D, Class N and Class S, and will be priced at each class's net asset value per share as of September 30. The fund expects that NAV to be available within 20 business days after October 1.

Until it is struck, neither the per-share price nor the class-level split of the month's intake is fixed. The fund has followed each early-month notice with a fuller report later in the month carrying the finalized share counts, NAV and portfolio data.

Load Caps Differ by Class

No underwriting discounts or commissions were paid on the sale, and the fund itself charges no upfront sales load. Selling agents may still charge investors in the fee-bearing classes an upfront load, transaction fees or brokerage commissions, subject to caps:

• Class D: 2.0% of NAV
• Class N: 2.0% of NAV
• Class S: 3.5% of NAV
• Class I: no upfront load permitted

As with prior months, the shares were placed privately under Section 4(a)(2) of the Securities Act, Rule 506(b) of Regulation D and/or Regulation S.

Class I Anchors the Shareholder Base

At September 30, the fund had 216,548,277 Class I shares outstanding, far more than any other class. Class N followed with 71,230,092 shares, while Class S stood at 16,846,047 and Class D at 7,544,485.

Every class grew during September. At August 31, the fund reported 200,962,563 Class I shares, 57,997,969 Class N shares, 14,859,216 Class S shares and 6,994,628 Class D shares outstanding.