Tarrytown-based loan provider acquired by Ares Financial

Tarrytown-based asset-backed loan providers Keltic Financial Services L.L.C. and Keltic Financial Partners II L.P. have been acquired by publicly-traded asset manager Ares Financial L.P.

Keltic provides asset-backed loans to small and middle-market businesses. Ares will administer Keltic”™s $155 million loan portfolio through a new division, Ares Commercial Finance, which will be based in New York. Ares Commercial Finance expects to provide asset-backed loans between $1 million and $30 million.

Ares Financial L.P., based in Los Angeles, is an asset management group that provides tradeable credit, direct lending, private equity and real estate.