The €120 million vehicle is backed by anchor investor CommonWealth Investments, alongside Blue Earth Capital and Swisscanto.
The London-based manager is reportedly expanding its secondaries platform following a record $6.4 billion flagship close in July.
Following the establishment of a dedicated GP-led secondaries team earlier this year, the London-based firm has reportedly secured around €1 billion at first close.
The firm's fourth program closed at $472 million and will target lower-middle- and middle-market opportunities through secondaries, co-investments, and direct investments.
"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.
The strategy will focus on single-asset continuation vehicles alongside existing sponsor relationships.
The inaugural North Haven Growth & Innovation Fund provides flexible capital across primary and secondary transactions, including company-led liquidity solutions.
The firm has appointed Loïc Beaumont as Head of Private Equity to lead the initiative that targets LP-led secondary positions in European buyout funds.
The strategy is reportedly targeting $1 billion, three years after General Atlantic took a minority stake in Clipway.
The newly launched firm provides liquidity solutions for energy and infrastructure sponsors and management teams.
