{
  "crd_number": 307090,
  "slug": "ares-systematic-credit-limited-london-307090",
  "primary_business_name": "ARES SYSTEMATIC CREDIT LIMITED",
  "legal_name": "ARES SYSTEMATIC CREDIT LIMITED",
  "dbas": [],
  "city": "London",
  "state": null,
  "country": "United Kingdom",
  "cbsa_code": null,
  "metro": null,
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "2021-04-30",
  "years_registered": 5,
  "period": "2026-10-01",
  "filing_date": "2026-08-26",
  "carried_forward": false,
  "raum_total": 9893083586.0,
  "raum_discretionary": 9893083586.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 62,
  "advisory_employees": 16,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 4742843062.0,
      "count": 2,
      "description": "SEPARATELY MANAGED ACCOUNT"
    },
    "investment_companies": {
      "raum": 237994150.0,
      "count": 2
    },
    "pooled_investment_vehicles": {
      "raum": 4912246374.0,
      "count": 5
    }
  },
  "compensation_types": [
    "percentage_of_aum",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_businesses_institutional",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 3,
  "states_registered": [
    "DE",
    "MA"
  ],
  "websites": [
    "https://bluecove.com",
    "https://linkedin.com/company/bluecove",
    "https://x.com/bluecove"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/307090",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(4)",
      "question": "Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    }
  ],
  "city_as_filed": "LONDON",
  "url": "https://advisorcensus.com/firm/ares-systematic-credit-limited-london-307090",
  "display_name": "Ares Systematic Credit Limited",
  "summary": "Ares Systematic Credit Limited is an SEC-registered investment advisory firm in London, United Kingdom, registered since 2021, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 26, 2026.",
  "citation": "AdvisorCensus. Ares Systematic Credit Limited (CRD 307090): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management",
    "Performance-based fees"
  ],
  "advisory_activity_labels": [
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients"
  ],
  "quick_answers": [
    {
      "q": "How is Ares Systematic Credit Limited compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Ares Systematic Credit Limited reports these compensation arrangements: a percentage of assets under its management; performance-based fees."
    },
    {
      "q": "How much does Ares Systematic Credit Limited charge?",
      "a": "Its Form ADV Part 2A brochure dated March 31, 2026 states: Asset-based fee: 1.25% to 1.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement."
    },
    {
      "q": "Where is Ares Systematic Credit Limited located?",
      "a": "Ares Systematic Credit Limited's principal office is in London, United Kingdom, according to its Form ADV; the September 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is Ares Systematic Credit Limited registered with the SEC or a state?",
      "a": "Ares Systematic Credit Limited is an SEC-registered investment advisory firm, registered since 2021. Status as filed: Approved. CRD 307090."
    },
    {
      "q": "How much does Ares Systematic Credit Limited manage?",
      "a": "Ares Systematic Credit Limited reports $9,893,083,586 in regulatory assets under management in its Form ADV filing dated August 26, 2026 (100% discretionary)."
    },
    {
      "q": "How have Ares Systematic Credit Limited's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Ares Systematic Credit Limited: Regulatory assets under management: $3,088,846,667 in the October 2021 data and $9,893,083,586 in the October 2026 data, up 220%. Total employees: 62 in October 2021 and 62 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Ares Systematic Credit Limited serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (5); investment companies (2); other (2)."
    },
    {
      "q": "Which custodians does Ares Systematic Credit Limited use?",
      "a": "Ares Systematic Credit Limited's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists JPMorgan Chase Bank, N.A. and Northern Trust Company Melbourne Branch as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Ares Systematic Credit Limited report any disciplinary disclosures?",
      "a": "Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/307090"
    },
    {
      "q": "What changed in Ares Systematic Credit Limited's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Item 11 disclosure answers changed: 3 yes answers, previously 0 (now yes: 11.C(2), 11.C(4), 11.C(5)). Changed its legal name from Bluecove Limited to Ares Systematic Credit Limited. Employees performing advisory functions went from 20 to 16. Regulatory assets under management went from $11,114,184,261 to $9,893,083,586 (-11%). Updated its list of owners and control persons (Schedule A)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 3088846667.0,
      "total_employees": 62,
      "filing_date": "2021-03-31"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 7010560201.0,
      "total_employees": 62,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 7613850543.0,
      "total_employees": 66,
      "filing_date": "2023-06-26"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 7865770003.0,
      "total_employees": 66,
      "filing_date": "2024-03-25"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 11114184261.0,
      "total_employees": 66,
      "filing_date": "2025-03-26"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 9893083586.0,
      "total_employees": 62,
      "filing_date": "2026-08-26"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Item 11 disclosure answers changed: 3 yes answers, previously 0 (now yes: 11.C(2), 11.C(4), 11.C(5)).",
        "Changed its legal name from Bluecove Limited to Ares Systematic Credit Limited.",
        "Employees performing advisory functions went from 20 to 16.",
        "Regulatory assets under management went from $11,114,184,261 to $9,893,083,586 (-11%).",
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": {
    "source": "Form ADV Part 2A brochure dated March 31, 2026",
    "provided_by_the_firm": false,
    "tiers": [],
    "flat_rate": null,
    "stated_range": "1.25% to 1.5% a year",
    "stated_maximum": null,
    "account_minimum": null,
    "account_minimum_may_be_waived": false,
    "minimum_annual_fee": null,
    "planning_fees": [],
    "figures": [
      {
        "label": "Asset-based fee",
        "statements": [
          "Asset-based fee: 1.25% to 1.5% a year (a range, as the brochure states it)"
        ],
        "quotes": [
          "For the ASC Fund, ASC generally charges an annual management fee (“Management Fee”) which ranges from 1.25% - 1.50% of the net asset value of Investors’ investments."
        ]
      }
    ],
    "values": {
      "tiers": [],
      "range_pct": [
        1.25,
        1.5
      ],
      "max_pct": null,
      "account_minimum": null,
      "minimum_annual_fee": null,
      "planning": []
    },
    "quotes": [
      "For the ASC Fund, ASC generally charges an annual management fee (“Management Fee”) which ranges from 1.25% - 1.50% of the net asset value of Investors’ investments."
    ],
    "note": "As stated in the firm's brochure; fees can differ by service and may be negotiable."
  },
  "custodians": [
    {
      "name": "JPMorgan Chase Bank, N.A.",
      "name_as_filed": "JPMORGAN CHASE BANK, N.A.",
      "affiliated": false
    },
    {
      "name": "Northern Trust Company Melbourne Branch",
      "name_as_filed": "NORTHERN TRUST COMPANY MELBOURNE BRANCH",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/ares-systematic-credit-limited-london-307090.md",
  "clients": [
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 2,
      "fewer_than_5": false,
      "raum": 237994150.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 5,
      "fewer_than_5": false,
      "raum": 4912246374.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 2,
      "fewer_than_5": false,
      "raum": 4742843062.0
    }
  ],
  "disclosure_line": "Reports 3 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/307090",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}