Ares Strategic Income Fund Reports NAV, Share Sale and Distributions

What Happened

• Ares Strategic Income Fund filed an 8‑K on July 21, 2026 reporting its NAVs as of June 30, 2026, the sale of Class I common shares in July 2026, and declarations of regular monthly distributions for July, August and September 2026. The Fund’s NAV per share for Class I, Class S and Class D was $26.71 as of June 30, 2026. The Fund sold 1,203,879 Class I shares in July (number of shares finalized July 21) for total consideration of $32.2 million; the purchase price equaled the Fund’s NAV per Class I share as of June 30, 2026.
• The filing also disclosed portfolio, leverage and offering details: aggregate NAV ≈ $10.2 billion, portfolio fair value ≈ $21.8 billion, debt outstanding ≈ $12.2 billion (debt-to-equity 1.19x; 1.15x net of cash ≈ $389M), and about $3.9 billion available to borrow under existing credit facilities. The Fund continues a registered continuous offering (up to $15.0 billion) and ongoing private placements.

Key Details

• NAV & scale: NAV per share (Class I/S/D) $26.71; aggregate NAV ≈ $10.2 billion; portfolio fair value ≈ $21.8 billion.
• July unregistered sale: 1,203,879 Class I shares sold in July 2026 for $32.2 million (priced at June 30, 2026 NAV).
• Distributions: July gross distribution $0.21430 per share (record date July 31, 2026; pay on/about Aug 21, 2026). August and September gross distributions are each $0.21430 per share (Aug record Aug 31/pay Sept 23; Sept record Sept 30/pay Oct 23). Class I net = $0.21430; Class S net = $0.19502; Class D net = $0.20863 for July.
• Leverage & liquidity: debt ≈ $12.2B; debt-to-equity 1.19x (1.15x net of ~$389M cash); ~ $3.9B available to borrow under credit facilities.

Why It Matters

• NAV and cash distributions: The reported NAV ($26.71) and declared monthly distributions ($0.21430) provide current yield context for investors (annualized distribution rate for Class I was 9.63% as of June 30, 2026). Distributions may be paid in cash or reinvested per the Fund’s DRIP.
• Share issuance and offering: The July unregistered sale (priced at NAV) and the ongoing registered offering/private placements increase capital available to the Fund but may modestly increase shares outstanding. The Fund has raised over $12.0 billion in registered and private placements to date.
• Leverage and portfolio mix: Material leverage (debt ~$12.2B; debt-to-equity ~1.19x) and a portfolio concentrated in first‑lien senior secured loans (77.4% of investments by fair value) are important risk/return drivers for investors assessing income and credit exposure.
• Corporate action alert: The Fund’s board recommended shareholders reject an unsolicited mini‑tender offer from Cox Capital Partners to buy up to 450,000 Class I shares at $22.95 (about a 15% discount to prior NAV); the board deemed the offer not in shareholders’ best interests.

(Performance highlights in the filing: Class I inception-to‑date annualized total return through June 30, 2026 was 9.94% and June 2026 monthly total return for Class I was -0.28%.)