The investment firm is working with bankers to solicit potential buyer interest in the pipeline operator.

Ares Management, one of the biggest names in private credit, reported a record fundraising of $36 billion in the second quarter on Friday, as institutions continued allocating to the asset class. The results place Ares among the strongest fundraisers in alternative assets, as institutional capital shifts to larger, established managers.

The shares set aside for retail investors were subscribed only 0.93 times.

Vinhomes recorded adjusted revenue of $5.1b—3x the level a year earlier.