Ares Private Markets Fund Offshore Access Fund (APMF-O)

Ares Private Markets Fund Offshore Access Fund (APMF-O) is an open-ended private equity vehicle managed by Ares, domiciled in Luxembourg as a SICAV and structured as a feeder into the firm's private markets programme. It operates under the RAIF regime rather than as an ELTIF, which places it outside the retail-oriented N/A framework and restricts distribution to professional investors across Europe. The fund launched in 2024 and is denominated in USD, with a minimum commitment of 25,000 USD for eligible subscribers. Its stated focus is a growth orientation within private equity, and the underlying exposure spans the geographies and sub-strategies reflected in .

Liquidity mechanics follow the semi-liquid evergreen model rather than a drawdown structure. Capital is taken in full at entry on a monthly basis, valuations are struck monthly, and repurchases are offered quarterly subject to a fund-level cap and an early-repurchase charge applying during the initial holding period. Investors should treat the redemption facility as discretionary and capacity-constrained in stressed conditions, since the underlying assets are illiquid and repurchase requests above the cap are prorated. The fee structure combines with , both of which sit alongside the costs borne at the level of the underlying investments.

Within the Novantigo universe of 494 vehicles as of 31 Jul 2026, the fund is one of 163 private equity strategies and one of 347 domiciled in Luxembourg, with 117 funds sharing both characteristics. Its reported scale, shown as , can be read against that peer set to gauge where the vehicle sits relative to comparable Luxembourg private equity feeders at a similar stage of ramp-up.