<SEC-DOCUMENT>0001104659-24-015643.txt : 20240212
<SEC-HEADER>0001104659-24-015643.hdr.sgml : 20240212
<ACCEPTANCE-DATETIME>20240212190233
ACCESSION NUMBER:		0001104659-24-015643
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240212
DATE AS OF CHANGE:		20240212

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Ares Management Corp
		CENTRAL INDEX KEY:			0001176948
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				954656677
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-90773
		FILM NUMBER:		24621999

	BUSINESS ADDRESS:	
		STREET 1:		2000 AVE OF THE STARS
		STREET 2:		12TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
		BUSINESS PHONE:		3102014100

	MAIL ADDRESS:	
		STREET 1:		2000 AVE OF THE STARS
		STREET 2:		12TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ARES MANAGEMENT LP
		DATE OF NAME CHANGE:	20020701

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Rosenthal Bennett
		CENTRAL INDEX KEY:			0001304465
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	MAIL ADDRESS:	
		STREET 1:		2000 AVENUE OF THE STARS, 12TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>tm245692d6_sc13ga.htm
<DESCRIPTION>SC 13G/A
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 13G</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No. 4)*</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>Ares Management
Corporation</B></FONT><B><BR>
<FONT STYLE="font-size: 10pt">(Name of Issuer)</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Class A common stock, par value $0.01 per share<BR>
(Title of Class of Securities)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>03990B 101<BR>
(CUSIP Number)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>December 31, 2023<BR>
(Date of Event Which Requires Filing of this Statement)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the Appropriate Box to Designate the Rule Pursuant to Which this
Schedule Is Filed:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rule
13d-1(b) </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rule
13d-1(c) </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&#120;</FONT><FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rule
13d-1(d) </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">* The remainder of this cover page shall be filled out for a reporting
person&rsquo;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing
information which would alter the disclosures provided in a prior cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required on the remainder of this cover page shall
not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&ldquo;<U>Act</U>&rdquo;)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the <I>Notes</I>).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding-left: 5pt; padding-top: 6pt; width: 5%; font-size: 10pt; padding-bottom: 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5pt; padding-top: 6pt; width: 95%; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Names of Reporting Persons</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Bennett Rosenthal</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; font-size: 10pt; padding-bottom: 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5pt; padding-top: 6pt; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check The Appropriate Box if a Member of a Group (See Instructions)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(a) <FONT STYLE="font-family: Wingdings">&#168;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) <FONT STYLE="font-family: Wingdings">&#120;</FONT></P>
</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; font-size: 10pt; padding-bottom: 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5pt; padding-top: 6pt; font-size: 10pt; padding-bottom: 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">SEC Use Only</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; font-size: 10pt; padding-bottom: 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5pt; padding-top: 6pt; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Citizenship or Place of Organization</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>USA</B></P></TD></TR>
  </TABLE>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="4" STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 17%; padding-top: 6pt; padding-bottom: 6pt; text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Number of Shares<BR>
 Beneficially Owned <BR>
By Each Reporting <BR>
Person With</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5pt; vertical-align: top; width: 5%; padding-top: 6pt; padding-bottom: 6pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-left: 5pt; padding-top: 6pt; vertical-align: top; width: 78%; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sole Voting Power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>0</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5pt; border-bottom: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5pt; padding-top: 6pt; border-bottom: Black 1pt solid; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shared Voting Power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>0</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5pt; border-bottom: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5pt; padding-top: 6pt; border-bottom: Black 1pt solid; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sole Dispositive Power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>0</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5pt; border-bottom: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5pt; padding-top: 6pt; border-bottom: Black 1pt solid; padding-bottom: 6pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Shared Dispositive Power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>0</B></P></TD></TR>
  </TABLE>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; width: 5%; padding-top: 6pt; padding-bottom: 6pt; padding-left: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; width: 95%; padding-bottom: 6pt; padding-left: 5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Aggregate Amount Beneficially Owned by Each Reporting Person</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>0</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; padding-left: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-left: 5pt; border-bottom: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; padding-left: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 6pt; border-bottom: Black 1pt solid; padding-bottom: 6pt; padding-left: 5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Percent of Class Represented by Amount in Row (9)&#9;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>0.0%</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; padding-left: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding-top: 6pt; border-bottom: Black 1pt solid; padding-bottom: 6pt; padding-left: 5pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Type of Reporting Person (See Instructions)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IN</B></P></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 1(a).</B></FONT></TD>
    <TD STYLE="width: 87%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name of Issuer:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Ares Management Corporation (the &ldquo;Issuer&rdquo;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>I<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">tem 1(b).</FONT></B></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Address of Issuer&rsquo;s Principal Executive Offices:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT>2000 Avenue of the Stars, 12<SUP>th</SUP>
    Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="background-color: white">Los Angeles, California 90067</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2(a).</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Names of Persons Filing:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This statement is filed by Bennett Rosenthal, referred to herein as the &ldquo;<U>Reporting Person</U>.&rdquo;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2(b).</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Address of the Principal Business Office or, if None, Residence:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT>2000 Avenue of the Stars, 12<SUP>th</SUP>
    Floor</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.05pt; text-indent: -2.05pt; background-color: white"><FONT>Los
    Angeles, California 90067</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2(c).</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Citizenship:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">See response to Item 4 on the cover page.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2(d).</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title of Class&nbsp;of Securities:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Class&nbsp;A common stock, $0.01 par value per share </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2(e).</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CUSIP Number:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">03990B 101</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 3.</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>If this statement is filed pursuant to Rules&nbsp;13d-1(b), or 13d-2(b)&nbsp;or (c), check whether the person filing is a(n):</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>



<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 4.</B></FONT></TD>
    <TD COLSPAN="3">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.1pt"><B>Ownership.</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">The information contained on the cover page&nbsp;to this Schedule 13G
    is incorporated herein by reference.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(a)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"></FONT><B>Amount
beneficially owned:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 1pt; padding-bottom: 1pt">See response to Item 9 on the cover page.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(b)&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"></FONT><B>Percent
of Class:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-top: 1pt; padding-bottom: 1pt">See response to Item 11 on the cover page.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(c)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"></FONT><B>Number
of shares as to which the Reporting Person has:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; width: 13%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; width: 5%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; width: 5%; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(i)</FONT></TD>
    <TD STYLE="padding-top: 1pt; width: 77%; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"></FONT><B>Sole
power to vote or to direct the vote:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">See response to Item 5 on the cover page.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(ii)</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"></FONT><B>Shared
power to vote or to direct the vote:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">See response to Item 6 on the cover page.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(iii)</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"></FONT><B>Sole
power to dispose or to direct the disposition of:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">See response to Item 7 on the cover page.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(iv)</FONT></TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"></FONT><B>Shared
power to dispose or to direct the disposition of:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-bottom: 1pt">See response to Item 8 on the cover page.</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>The Reporting Person directly holds 0 shares of Class A common stock, par value $0.01 per share, of Issuer (&ldquo;Class A Shares&rdquo;).
The Reporting Person, together with Michael J Arougheti, Ryan Berry, R. Kipp deVeer, Antony P. Ressler and David B. Kaplan (each, a &ldquo;Board
Member&rdquo; and collectively, the &ldquo;Board Members&rdquo;) manage Ares Partners Holdco LLC (&ldquo;Ares Partners&rdquo;). Mr. Ressler
generally has veto authority over decisions of the Board Members. Ares Partners is the general partner of Ares Owners Holdings L.P. (&ldquo;Ares
Owners&rdquo;). Ares Owners directly holds 13,269,729 Class A Shares on behalf of its limited partners and an aggregate of 117,024,758
partnership units of the Ares Operating Group (&ldquo;AOG Units&rdquo;) on behalf of its limited partners. Each AOG Unit is exchangeable
for one Class A Share, subject to certain restrictions. Ares Owners holds 1,105,052 Class A Shares and 9,421,596 AOG Units on behalf of
the Reporting Person, or on behalf of a vehicle controlled by him, as a limited partner of Ares Owners. The Reporting Person expressly
disclaims beneficial ownership of these shares, and any shares that may be acquired upon exchange of the AOG Units, for purposes of Section
13(d) of the Act and the rules thereunder. Based solely on information reported in Statements on Schedule 13G filed by Ares Owners and
the other Board Members, the Class A Shares held by Ares Owners, if aggregated with other Class A Shares beneficially owned by each of
the individual Board Members, would equal 132,712,728 Class A Shares in the aggregate, including shares that may be acquired upon the
exchange of AOG Units held by Ares Owners and Class A Shares that may be acquired by the individual Board Members upon the vesting of
Restricted Stock Units (&ldquo;RSUs&rdquo;) held by such Board Member, representing 43.61% of the outstanding Class A Shares (assuming
the exchange of such AOG Units and the vesting of such RSUs).</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left">The percentage reflected in this schedule is based on an aggregate of 185,586,803 Class A Shares outstanding as of October 31, 2023, as
reported in the Issuer's Form 10-Q filed November 6, 2023.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>The Reporting Person expressly disclaims the existence of, or membership in, a &ldquo;group&rdquo; within the meaning of Section 13(d)(3)
of the Act and Rule 13d-5(b) thereunder with Ares Owners, Ares Partners, and the other Board Members, as well as beneficial ownership
with respect to any Class A Shares beneficially owned by Ares Owners, Ares Partners, or the other Board Members, and neither the filing
of this Statement on Schedule 13G nor any of its contents shall be deemed to constitute an admission by the Reporting Person that he is
the beneficial owner of any of the Class A Shares referred to herein for purposes of Section 13(d) of the Act, and such beneficial ownership
is expressly disclaimed by the Reporting Person.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 5.</B></FONT></TD>
    <TD STYLE="width: 87%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ownership of Five Percent or Less of a Class.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable. </FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 13%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 6.</B></FONT></TD>
    <TD STYLE="width: 87%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Ownership of More than Five Percent on Behalf of Another Person.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 7.</B></FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 8.</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Identification and Classification of Members of the Group.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable</FONT>.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 9.</B></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Notice of Dissolution of Group.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Item 10.</B></TD>
    <TD><B>Certification.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Not Applicable.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">After reasonable inquiry and to the best of my
knowledge and belief,&nbsp;I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: February 12, 2024</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt"><B>BENNETT ROSENTHAL</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt; font-size: 10pt">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 1pt; width: 50%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; width: 50%; font-size: 10pt">/s/ Bennett Rosenthal</TD></TR>
  </TABLE>

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