Phoenix Financial Discloses Stake in Ares Core Infrastructure Fund

The Israeli financial firm reports indirect ownership through its subsidiary, Smart Capital, underscoring strategic interest in infrastructure investments.

March 26, 2025

Major Stake Reported Through Subsidiary Smart Capital

Phoenix Financial just reported a significant position in the Ares Core Infrastructure Fund. Through its majority-owned subsidiary, Smart Capital Alternative Solutions, the Israel-based firm now holds a 11.21% stake—roughly 2.39 million shares.

This isn’t a one-off investment. Smart Capital manages a range of portfolios, including funds for insurance holders, pension members, and managed accounts. The structure is decentralized: each subsidiary under Phoenix makes its own decisions and operates independently. But together, they represent a sizable share of Ares Core Infrastructure, and they’re choosing to allocate real capital into the fund.

The Ares Core Infrastructure Fund, managed by Ares Management, targets long-term infrastructure assets. It’s a strategy that aligns with the push many institutional investors are making toward durable, income-generating investments. Phoenix’s position reflects that shift —anchored in alternative strategies, and built for clients who want exposure to essential infrastructure.

Passive Ownership, Strategic Intent

The disclosure, filed under Schedule 13G, makes clear that the stake isn’t about control. The securities weren’t acquired with influence in mind, and Phoenix isn’t participating in any control-related activity around the fund. It’s a passive investment, structured through Smart Capital, which itself has a diverse ownership base. Phoenix holds a 72.45% majority, with the rest split among individual stakeholders.

The report is dated February 20, 2025, and signed by senior leadership at Phoenix on March 24. With nearly 2.4 million shares now under its umbrella, Phoenix has put itself on the radar as one of the fund’s largest shareholders.