Associate, Credit, US Direct Lending; Healthcare

Overview

Over the last 20 years, Ares’ success has been driven by our people and our culture. Today, our team is guided by our core values – Collaborative, Responsible, Entrepreneurial, Self-Aware, Trustworthy – and our purpose to be a catalyst for shared prosperity and a better future. Through our recruitment, career development and employee-focused programming, we are committed to fostering a welcoming and inclusive work environment where high-performance talent of diverse backgrounds, experiences, and perspectives can build careers within this exciting and growing industry.

Ares is currently seeking candidates for the Associate role within our Direct Lending Specialty Healthcare team in our Chicago or Los Angeles office.

Ares Management has approximately $622 billion in assets under management across a variety of investment strategies as of December 31, 2025. We believe we have the largest Direct Lending platform in the industry, with over $231 billion in assets under management supported by over 400 investment professionals across 24 offices globally.

The Ares Specialty Healthcare (“ASH”) team is focused on growing Ares’ investment in high-quality, commercial-stage healthcare businesses. We seek to work with businesses, management teams, and their investors who bring differentiated products and services to the healthcare industry. The ASH team works across the Ares platform to deliver long-term, flexible capital solutions with the ability to scale with our portfolio companies through a differentiated partnership approach.

Ares Specialty Healthcare is a 12-person team that primarily operates out of offices in New York, Chicago, and Los Angeles.

Strong analytical and interpersonal skills as well as the ability to work well with limited supervision are of critical importance. This position presents candidates with a unique opportunity to join a growing group that offers significant exposure to all phases of the investment process.

The Associate will provide support for the sourcing, underwriting, and credit analysis of potential new investments, assist in deal closings, and be involved in post-closing portfolio management and investment monitoring.

• Performing detailed financial and market analysis that forms the basis for decisions on new debt and/or equity investments of the firm
• Screening new investment opportunities
• Preparing various complex excel financial models including cash flow analysis, debt sizing and structuring
• Preparing investment committee memos
• Analyzing investment performance including maintaining and updating investment valuations and financial models as well as keeping track of relevant current market activities
• Preparing quarterly portfolio reports summarizing changes in performance and updating forecasts
• Assisting in investment closings
• Meeting with management teams and sponsors when assessing new investment opportunities and monitoring the existing portfolio
• Additional duties include providing direct support as deemed necessary by senior management

• Bachelor’s degree or international equivalent required
• Minimum of 2 years of relevant investment banking or principal investing experience by the start date (healthcare sector experience is preferred)
• Demonstrated interest in specialty healthcare sectors (e.g., pharma/biotech, medtech, tools & diagnostics, healthcare IT, specialty services)
• Strong intellect with solid quantitative, financial, and analytical skills
• Advanced MS Excel modeling skills (v-lookup, macros, pivot tables) and MS PowerPoint skills
• Self-motivated and driven; ability to work effectively in a collegial, fast-moving, demanding, and dynamic environment
• Creative problem solver
• Exceptional interpersonal skills
• Impeccable integrity and trustworthiness

Partner, Portfolio Manager and Co-Head of Ares Specialty Healthcare

The anticipated base salary range for this position is listed below. Total compensation may also include a discretionary performance-based bonus. Note, the range takes into account a broad spectrum of qualifications, including,…