The Atlanta-based firm specializes in lower middle-market private investments, including GP stakes.
The oversubscribed vehicle's strategy is complemented by co-investments in privately held companies and secondary transactions.
Pomona Capital XI, which remains in the market, plans to invest predominantly in North American buyout funds
The vehicle, which has yet to announce a formal close, had previously disclosed a $30 million offering target.
The sequel fund has secured $150 million from a California pension and will back venture and growth managers through GP stakes, fund commitments, and co-investments.
TPG GP Solutions II, which held a first close last year, had raised over $1.7 billion in capital commitments as of June.
"AGSS highlights the increasing demand for tailored GP solutions in today's market environment and the innovative leadership of the Ares Secondaries platform," said Co-President Blair Jacobson.
Ares Real Estate Secondaries X will invest across LP-led portfolio sales, GP-led transactions, and structured secondary deals.
The Geneva-based firm targets late-stage single-asset secondary investments across technology and digital ventures.
After closing on $1.5 billion in commitments for Hamilton Lane Infrastructure Opportunities Fund II earlier this year, the firm is expected to launch a successor in late 2026 or early 2027.
