Ares Dynamic Credit Allocation Fund, Inc. Names M. Freddie Reiss to its Board of Directors
March 29, 2016 at 02:38 am IST
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Effective March 25, 2016, M. Freddie Reiss was appointed to the board of directors of Ares Dynamic Credit Allocation Fund, Inc. Mr. Reiss was also appointed as the chairperson of the audit committee of the company's board of directors and as a member of the nominating and governance committee. Mr. Reiss retired from his role as Senior Managing Director in the Corporate Finance/Restructuring practice of FTI Consulting in 2013. Mr. Reiss is currently on the board of trustees for the Baruch College Fund, chairman of the audit committee and independent board member for Contech Engineered Solutions and Managing Member of Variant Holdings LLC.
Ares Dynamic Credit Allocation Fund, Inc. (the Fund) is a closed end, diversified, management investment company. The Fund's investment objective is to seek an attractive risk adjusted level of total return, primarily through current income and secondarily, through capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a broad, dynamically managed portfolio of senior secured loans (Senior Loans) made primarily to companies whose debt is rated below investment grade; corporate bonds (Corporate Bonds) that are primarily high yield issues rated below investment grade; other fixed-income instruments of a similar nature that may be represented by derivatives, and securities issued by entities commonly referred to as collateralized loan obligations (CLOs) and other asset-backed securities. Its investments in CLOs may include investments in subordinated tranches of CLO securities. The Fund's investment adviser is Ares Capital Management II LLC.
ARES DYNAMIC CREDIT ALLOCATION FUND, INC. 
