Complex sentence: In 2002, Ares completed a spinout from Apollo management and the following year completed fundraising for Ares Corporate Opportunities Fund, a special situations investment fund with $750 million of capital under management.
Split into simpler sentences: In 2002, Ares completed a spinout from Apollo management. Shortly thereafter, Ares completed fundraising for Ares Corporate Opportunities Fund, a special situations investment fund with $750 million of capital under management.