Cion Ares Diversified Credit Fund
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- CION Ares Diversified Credit Fund (CADEX) operates as a diversified, unlisted closed-end management investment company registered under the 1940 Act as an interval fund. The Fund seeks superior risk-adjusted returns across market cycles by dynamically allocating capital to capitalize on market inefficiencies and relative value opportunities throughout the global credit spectrum; under normal circumstances, at least 80% of its assets consist of directly originated loans, secured floating and fixed rate syndicated loans, corporate bonds, asset-backed securities, commercial real estate loans, CLO debt and equity, infrastructure debt, opportunistic credit, high yield bonds, private asset-backed securities, and other credit instruments. Its portfolio emphasizes senior secured, predominantly floating-rate debt (92.3% as of October 2025) with geographic focus on the United States (72%), broader North America, Europe, the United Kingdom, Australia, and other regions; diversified across 953 issuers, 24 industries, and sectors including software & services, health care equipment, structured products, financial services, and insurance. The Fund pays monthly distributions (8.40% rate as of October 2025), offers quarterly repurchases of no less than 5% of outstanding shares at NAV, and employs leverage (33.79% as of July 2025) through credit facilities and preferred shares. Managed by CION Ares Management LLC (CAM), a joint venture between CION Investments and Ares Management Corporation (NYSE: ARES), the Fund leverages Ares' global credit platform with $391.5 billion in AUM across direct lending ($265 billion), liquid credit ($49 billion), alternative credit ($47 billion), and real estate debt ($21 billion). CAM's team, led by co-heads Mitch Goldstein and Michael Smith (28 years experience each) alongside partner Greg Margolies (35 years), is supported by a 13-member allocation committee averaging nearly 25 years of experience. Headquartered at 100 Park Avenue, 25th Floor, New York, NY 10017, the Fund traces its inception to January 26, 2017 (Class A shares), with Class I shares following in July 2017; share classes include A (CADEX), I (CADUX), L (CADWX), C (CADCX), U (CADZX), and U-2 (CADSX), available to all investors with low minimums, daily NAV transparency, and 1099 tax reporting. Recent developments include reaching $6 billion in total assets under management in October 2024 and approximately $7.3 billion as of June 30, 2025, reflecting steady growth amid strong investor demand for private credit alternatives. In October 2025, the Fund amended its Wells Fargo credit facility, increasing borrowing capacity from $1.4 billion to $1.8 billion to support expanded operations. These milestones underscore the Fund's resilient performance, with annualized returns of 7.06% since inception for I shares (as of October 2025), a Sharpe ratio of 1.12, and low standard deviation of 3.63%, positioning it as a differentiator in client portfolios through diversification and downside protection.