Ares US Real Estate Fund XI, L.P.
Raised
$2.3B
Investors
61
Min Invest
None stated
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AltStreet Analysis
·Generated from EDGAR primary sources
Ares US Real Estate Fund XI, L.P. is a Delaware pooled investment fund filed by Ares Real Estate Management Holdings, LLC. This amended filing reports $2,277.1M raised from 61 investors under Rule 506(b) and Section 3(c) exemptions. No minimum investment was disclosed on the filing.
This large institutional real estate fund employs the typical 506(b) private placement exemption used by closed-end commingled vehicles targeting qualified purchasers. The $37.3M average commitment and 61-investor base are consistent with institutional real estate fund structures from major alternative asset managers.
Data Flags
EDGAR Filing Data
Form D — Primary Source
View on SEC.govFilings 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 Dec 20, 2024 to Dec 31, 2025, the latest a D/A.
In the Terminal
Filing events
9
latest Dec 31, 2025
Critical / warning
2 / 0
4 watch · 3 info
Statements extracted
0
none on file
NAV prints
0
none on file
Offering chains
1
raising
Latest event First sale · Dec 31, 2025
SEC.govFund 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
- The full fund family and any related vehicles (parallel, feeder, successor, sibling series) with the filing that shows each link
- The dated record: 8 facts with source, effective date and capture date, viewable as AltStreet knew them on any past day
- 9 filing events with values and deltas, latest 2025-12-31, and alerts on the next one
- 1 offering timeline: velocity, share raised, first-sale lag, stalled flags
Pro
- This issuer against its cohort: rank by velocity and share raised among offerings filed the same quarter
- The same events, statements and NAV moves across every issuer, screenable, with unlimited watches and CSV
Counts and dates above are the free record. The values, the series and the comparisons are the seat. Loading your view…
Regulatory Activity
Filing events on this entity detected by AltStreet's EDGAR monitoring.
Signal analysis reserved for subscribers
Severity grading, value-change deltas, and analyst notes on these filings ship in the AltStreet newsletter and the Pro terminal.
Get the signal feedAdviser of Record (Form ADV)
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 LLP · 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 XI, 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
Andrew Holm
Executive Officer · New York, NY
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 · Los Angeles, CA · Soliciting in all states
Korea Asset Investment Securities Co., Ltd.
Associated broker-dealer: None · Seoul, M5 and outside the United States
Mirae Asset Securities Co., Ltd.
Associated broker-dealer: None · Seoul, M5 and outside the United States
Questions About Ares US Real Estate Fund XI, 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 XI, L.P.?
Ares US Real Estate Fund XI, L.P. is a Delaware limited partnership that filed a Form D with the SEC on December 31, 2025 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 XI, L.P..
Is Ares US Real Estate Fund XI, L.P. legit?
AltStreet does not rate legitimacy; it reports the public record. Ares US Real Estate Fund XI, L.P. filed a Form D with the SEC on December 31, 2025 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 $2,277,100,000 sold to 61 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 XI, 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 XI, 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 XI, 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 XI, L.P. raised?
Ares US Real Estate Fund XI, L.P. reported $2,277,100,000 sold from 61 investors in an offering of indefinite size as of the Form D filed December 31, 2025.
Who can invest in Ares US Real Estate Fund XI, 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 XI, 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 XI, L.P. and how are they paid?
The Form D names Ares Management Capital Markets LLC (CRD 166219), associated with None; Korea Asset Investment Securities Co., Ltd., associated with None; Mirae Asset Securities Co., Ltd., associated with None as recipients of sales compensation soliciting in all states. Sales commissions are reported as $0 and finders' fees as $0. Form D allows these to be estimates.
Who is behind Ares US Real Estate Fund XI, L.P.?
The Form D lists 10 related persons: General Partner Ares US Real Estate Advisors XI, 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; Andrew E Holm, executive officer; Jay E Glaubach, executive officer; William E Benjamin, executive officer; Michael E Arougheti, executive officer; Keith E 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 XI, L.P. located?
The issuer's address on its SEC filings is C/O Ares Management LLC, 1800 Avenue of the Stars, Suite 1400, 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 XI, 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 XI, 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.