Debt issued to finance large, long-lived public works and utilities—like roads, power plants, airports or broadband—where lenders are repaid from the project’s cash flow or government-backed contracts. For investors it matters because it typically offers steady interest payments and lower default risk than many corporate loans, but comes with long horizons and limited ability to sell quickly, so it behaves more like a fixed, slow-growing income stream than a fast-trading investment.
assets under managementfinancial
Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.
alternative investment managerfinancial
An alternative investment manager is a firm that professionally invests other people’s money in non‑traditional assets — such as private companies, real estate, hedge funds, commodities or credit — instead of regular stocks and bonds. Think of them as specialist gardeners who tend a variety of unusual crops; they matter to investors because they can offer different sources of return and risk, potential for higher profits, and trade‑off of higher fees and reduced ease of selling.
midstreamtechnical
Midstream refers to the phase in the energy supply chain that involves the transportation, storage, and processing of oil and natural gas after extraction from the ground, but before they are refined into usable products. For investors, midstream companies are important because they often generate steady income through fees for moving and storing energy resources, making them a key link between resource producers and consumers.
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Lorenzo Ceretti Joins Roopa Murthy as Co-Head of EMEA Infrastructure Debt
NEW YORK & LONDON--(BUSINESS WIRE)--
Ares Management Corporation (NYSE: ARES) (“Ares”), a leading global alternative investment manager, announced today that Brent Canada has been appointed Head of Ares Infrastructure Debt. Mr. Canada joined Ares as a Partner in 2022 from Deutsche Bank, where he was a Managing Director and responsible for infrastructure financing coverage in the Americas. After leading the Infrastructure Debt team at Ares since its acquisition in 2022, Patrick Trears has decided to transition to Senior Advisor from his role as Head of Ares Infrastructure Debt.
In addition, underscoring the expanding opportunity in the global infrastructure debt market, Lorenzo Ceretti, a Partner in London, has been appointed Co-Head of EMEA Infrastructure Debt alongside current EMEA Co-Head Roopa Murthy. Mr. Ceretti joined Ares in 2023 from Global Infrastructure Partners, where he led the European credit infrastructure business. Ms. Murthy joined Ares in 2022 and has overseen the EMEA business since that time. Spencer Ivey, who also joined Ares in 2022, will continue in his role as Head of APAC Infrastructure Debt in Sydney.
Ares’ leading Infrastructure Debt business had over $13 billion in assets under management, as of March 31, 2026, and supports global, defensive infrastructure assets across the digital infrastructure, power, midstream, transport and utilities sectors by delivering flexible, bespoke capital solutions to borrowers. The team’s investment professionals operate across offices in New York, London, Sydney and Singapore.
“Over the last four years, our Infrastructure Debt strategy has reinforced its differentiated capabilities and scale,” said Kipp deVeer, Ares Co-President. “We benefit from a very experienced team, the breadth of Ares’ leading global Credit franchise and a continued focus on directly originated investments with top-tier infrastructure sponsors. Brent has been central to that progress, and we are excited for him to lead the business going forward alongside Roopa, Lorenzo and Spencer.”
“I am honored to take on this role at a time when infrastructure debt is benefiting from powerful themes across digitization, energy transition and the need for resilient essential assets,” said Mr. Canada. “Ares is well positioned to meet this demand through flexible capital, deep sector expertise and the scale of our global investment capabilities. I have tremendous appreciation for Patrick’s leadership and for the exceptional team whose work has created such a strong foundation for the opportunities ahead.”
“Helping shape and build Ares Infrastructure Debt into the scaled business it is today has been a great privilege of my career and one that I’m extremely proud of,” said Mr. Trears. “Brent knows our people, our strategy and our markets deeply, and I’m confident he is the right leader for this next chapter. I look forward to supporting him and the team as they carry forward the business’ strong momentum.”
“Infrastructure debt in EMEA is at a compelling inflection point, with accelerating demand for private capital,” said Ms. Murthy and Mr. Ceretti. “Together, we are excited about the attractive opportunities to support critical infrastructure assets and platforms with tailored financing solutions across the region.”
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders' long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2026, Ares Management Corporation's global platform had over $644 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.ares.com.
