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Ares to acquire giant $3.5bn loan portfolio from Pacwest

PacWest Bancorp has sold a $3.5 billion asset-backed loan portfolio to Ares Management Corp in a bid to boost liquidity amid concerns over deposit outflows.

The specialty finance portfolio consists of consumer loans, mortgages, and timeshare receivables. Photo: Getty Images
The specialty finance portfolio consists of consumer loans, mortgages, and timeshare receivables. Photo: Getty Images

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