SEC filing record
Primary Source · SEC.gov

Ares US Real Estate Fund X, L.P.

Fund Vehicle2022 vintage506(b), 3(c)

Raised

$1.8B

Investors

545

Min Invest

None stated

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AltStreet Analysis

·

Generated from EDGAR primary sources

Ares US Real Estate Fund X, L.P. is a Delaware limited partnership filed by Ares Real Estate Management Holdings, LLC. This amended filing reports $1,831.1M raised from 545 investors under Rule 506(b) and Section 3(c) exemptions. The offering is a pooled investment fund focused on real estate with no minimum investment disclosed on the filing.

This real estate fund follows the standard institutional 506(b) exemption pattern typical of large private real estate vehicles raised from qualified purchasers and accredited investors. With an average investor commitment of approximately $3.4M, the capital structure is consistent with institutional and high-net-worth participation common in commingled real estate funds from established sponsors.

Data Flags

related_personsNine executive officers listed across general partner, manager, and individual roles indicates complex governance structure typical of large institutional platforms

EDGAR Filing Data

Form D — Primary Source

View on SEC.gov
CIK Number0001866953
Entity NameAres US Real Estate Fund X, L.P.
ExemptionRule 506(b), Section 3(c), Section 3(c)(7)
What the exemption meansRule 506(b) of Regulation D: securities may be sold to an unlimited number of accredited investors and up to 35 non-accredited investors who meet the rule's sophistication standard, without general solicitation or advertising. Section 3(c) of the Investment Company Act of 1940: the issuer is a pooled investment vehicle relying on an exclusion from registration as an investment company. Section 3(c)(7) of the Investment Company Act: the fund is excluded from investment-company registration because every investor is a qualified purchaser, generally an individual with at least $5 million in investments or an institution with at least $25 million.
Entity TypeLimited Partnership
Jurisdiction of OrganizationDelaware
Issuer AddressC/O Ares Management LLC, 2000 Avenue of the Stars, 12th Floor, Los Angeles, CA 90067
Phone(310) 201-4100
Industry / Fund TypePooled Investment Fund · Other Investment Fund
Investment Company ActExcluded under Section 3(c)(7) (qualified purchasers only)
Securities TypePooled Investment Fund
First Sale Date—
Filing DateOctober 11, 2022
Accession Number0001866953-22-000002
Total Offering AmountIndefinite
Total Amount Sold$1,831,137,741
Total Investors545
Non-Accredited InvestorsNone
Minimum Investment$0 (no stated minimum)
Offering DurationOne year or less
Net Asset Value RangeDecline to Disclose
State (Issuer Address)CA
Amendment Count2 amendments filed

Filings on Record

Every filing AltStreet's ledger holds for this CIK, newest first. Each opens the SEC archive folder.

Capital Raise Timeline

3 Form D filings from Jun 14, 2021 to Oct 11, 2022, the latest a D/A.

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Filing events

0

none on file

Critical / warning

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0 watch · 0 info

Statements extracted

0

none on file

NAV prints

0

none on file

Offering chains

1

lapsed

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Fund family Part of the Ares US Real Estate Fund family: 6 vehicles across 3 generations · full family and the filing behind each link in the terminal

Investor

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  • 1 offering timeline: velocity, share raised, first-sale lag, stalled flags

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Adviser of Record (Form ADV)

Ares Management LLC

CRD 130074 · SEC-registered adviser · lists this fund on Schedule D 7.B.(1) as a hedge fund

Auditor named on Form ADV: Ernst & Young · PCAOB-registered per the adviser

From the adviser's Form ADV as loaded from the SEC bulk data, joined on this issuer's Form D file number. Fund-level figures and the adviser's full fund roster are in the terminal.

Related Persons (Form D)

Executive officers, directors, and promoters listed on the SEC Form D filing. Source: SEC.gov.

General Partner Ares US Real Estate Advisors X, L.P.

Executive Officer · Los Angeles, CA

Manager Ares Real Estate Management Holdings, LLC

Executive Officer · Los Angeles, CA

David Roth

Executive Officer · New York, NY

Howard Huang

Executive Officer · Los Angeles, CA

Jay Glaubach

Executive Officer · Los Angeles, CA

William Benjamin

Executive Officer · London, X0

Michael Arougheti

Executive Officer · Los Angeles, CA

Keith Kooper

Executive Officer · New York, NY

Jessica Mattoon

Executive Officer · New York, NY

Julie Solomon

Executive Officer · New York, NY

Placement Agents and Sales Compensation (Form D)

Who the issuer reported paying to sell the securities (Form D Item 12), with the FINRA registration number the filer gave. Source: SEC.gov.

Ares Management Capital Markets LLCCRD 166219 on BrokerCheck

Associated broker-dealer: None · Culver City, CA · Soliciting in all states

Morgan Stanley Smith Barney LLCCRD 149777 on BrokerCheck

Associated broker-dealer: None · Purchase, NY · Soliciting in all states

Korea Asset Investment Securities Co., Ltd.

Associated broker-dealer: None · Seoul, M4 and outside the United States

Questions About Ares US Real Estate Fund X, L.P.

Each answer is built from the values on the SEC filing and the AltStreet ledger, not from the issuer's marketing.

What is Ares US Real Estate Fund X, L.P.?

Ares US Real Estate Fund X, L.P. is a Delaware limited partnership that filed a Form D with the SEC on October 11, 2022 as a other investment fund. The filing claims Rule 506(b), Section 3(c), Section 3(c)(7) for an offering of pooled investment fund interests. AltStreet links the issuer to Ares US Real Estate Fund X, L.P..

Is Ares US Real Estate Fund X, L.P. legit?

AltStreet does not rate legitimacy; it reports the public record. Ares US Real Estate Fund X, L.P. filed a Form D with the SEC on October 11, 2022 claiming Rule 506(b), Section 3(c), Section 3(c)(7). A Form D is a notice of an exempt offering, not a review or approval of it. The newest notice reports $1,831,137,741 sold to 545 investors. AltStreet's enforcement record (SEC, FINRA and state actions) shows no action naming the issuer as of today. The issuer is linked to Ares US Real Estate Fund X, L.P., which AltStreet has reviewed. Before investing, confirm the filing on EDGAR, check the seller's registration on FINRA BrokerCheck, and read the offering documents, which a Form D does not include.

Is Ares US Real Estate Fund X, L.P. registered with or approved by the SEC?

No. A Form D is a notice that an issuer is selling securities under an exemption from registration, and the SEC does not review, approve, or pass on the merits of the offering. The filing shows that Ares US Real Estate Fund X, L.P. claimed Rule 506(b), Section 3(c), Section 3(c)(7) and disclosed the items the form requires, such as the amount sold, the minimum investment, related persons, and anyone paid to sell the securities. It does not verify the issuer's claims or its business.

How much has Ares US Real Estate Fund X, L.P. raised?

Ares US Real Estate Fund X, L.P. reported $1,831,137,741 sold from 545 investors in an offering of indefinite size as of the Form D filed October 11, 2022.

Who can invest in Ares US Real Estate Fund X, L.P.?

The offering relies on Rule 506(b), which permits sales to accredited investors and to no more than 35 non-accredited investors who meet a sophistication standard, and prohibits general solicitation. Because the fund also relies on Section 3(c)(7), each investor must be a qualified purchaser, generally an individual with at least $5 million in investments. The filing reports no non-accredited investors. The filing lists the minimum investment as $0, meaning no minimum was stated.

What is the minimum investment in Ares US Real Estate Fund X, L.P.?

The Form D lists the minimum investment as $0, which means the issuer did not state a minimum on the form. The offering documents, not the Form D, set the actual subscription terms.

Who is selling Ares US Real Estate Fund X, L.P. and how are they paid?

The Form D names Ares Management Capital Markets LLC (CRD 166219), associated with None; Morgan Stanley Smith Barney LLC (CRD 149777), associated with None; Korea Asset Investment Securities Co., Ltd., associated with None as recipients of sales compensation soliciting in all states.

Who is behind Ares US Real Estate Fund X, L.P.?

The Form D lists 10 related persons: General Partner Ares US Real Estate Advisors X, L.P., executive officer (General Partner of the Issuer); Manager Ares Real Estate Management Holdings, LLC, executive officer (Manager of the Issuer); David Roth, executive officer; Howard Huang, executive officer; Jay Glaubach, executive officer; William Benjamin, executive officer; Michael Arougheti, executive officer; Keith Kooper, executive officer, and 2 more. Form D Item 3 requires executive officers, directors, and promoters of the issuer to be listed.

Where is Ares US Real Estate Fund X, L.P. located?

The issuer's address on its SEC filings is C/O Ares Management LLC, 2000 Avenue of the Stars, 12th Floor, Los Angeles, CA 90067. Its phone number of record is 310-201-4100. It is organized under the laws of Delaware.

How long is the Ares US Real Estate Fund X, L.P. offering open?

The issuer indicated that the offering is not intended to last more than one year. An issuer must amend its Form D annually while a continuing offering stays open; 2 amendments are on record for this CIK.

How large is Ares US Real Estate Fund X, L.P.?

The issuer declined to disclose its net asset value range on the Form D, which the form permits.

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Data Methodology

Capital raise figures, investor counts, and filing dates are sourced directly from SEC EDGAR Form D primary documents via the SEC EDGAR submissions API and full-text search index. EDGAR entity profiles and deal-level data are reviewed by AltStreet analysts with backgrounds in corporate finance and securities law — cross-referenced against offering circulars, audited financial statements, and primary regulatory filings before publication. Platform-provided information, where present, is clearly labeled and does not affect EDGAR data or AltStreet editorial coverage. Platforms may request factual corrections for demonstrable inaccuracies by contacting [email protected]. This page does not constitute investment advice.