Freshfields has acted as underwriters’ counsel for Ares Capital Corporation’s (ARCC) offering of 9.2 million shares of Common Stock, which raised approximately $174.8 million in gross proceeds for ARCC. The syndicate was led by Morgan Stanley & Co. LLC, BofA Securities, Inc. and UBS Securities LLC. ARCC is the largest public US business development company by market capitalization, with approximately $21.8 billion of total assets as of June 30, 2022.

The Freshfields team consisted of Partner and Global Co-Head of Capital Markets Valerie Ford Jacob, Partner Michael Levitt, Counsel Jeremy Barr, Senior Associate Tracy Zhang, Associates Rebecca Mitstifer and Fatima Anjum and Law Clerk Isaac Ellman.