<SEC-DOCUMENT>0001104659-24-015638.txt : 20240212
<SEC-HEADER>0001104659-24-015638.hdr.sgml : 20240212
<ACCEPTANCE-DATETIME>20240212185523
ACCESSION NUMBER:		0001104659-24-015638
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:		24621980

	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:			Berry Ryan
		CENTRAL INDEX KEY:			0001493586
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	MAIL ADDRESS:	
		STREET 1:		C/O ARES MANAGEMENT LLC
		STREET 2:		2000 AVENUE OF THE STARS, 12TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>tm245692d1_sc13ga.htm
<DESCRIPTION>SC 13G/A
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Amendment No.&nbsp;5)*</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 18pt"><B>Ares
Management Corporation</B></FONT><B><FONT STYLE="font-size: 10pt"><BR>
</FONT>(Name of Issuer)</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: center"><B>Class&nbsp;A common stock, par value $0.01 per
share<BR>
(Title of Class&nbsp;of Securities)</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: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>03990B
101</B></FONT><B><BR>
(CUSIP Number)</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: center"><B>December&nbsp;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"><B>&nbsp;</B></P>

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

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

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

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

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  <TD STYLE="text-indent: -0.01pt; width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
  <TD STYLE="text-indent: -0.01pt">Rule&nbsp;13d-1(b)</TD></TR>
</TABLE>


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

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  <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD>
  <TD>Rule&nbsp;13d-1(c)</TD></TR>
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  <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&#120;</FONT></TD>
  <TD>Rule&nbsp;13d-1(d)</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">* The remainder of this cover page&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required on the remainder of this cover page&nbsp;shall
not be deemed to be &ldquo;filed&rdquo; for the purpose of Section&nbsp;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; text-align: center; padding-top: 5pt; padding-bottom: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; padding: 5pt 5.75pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 3pt">Names of Reporting Persons</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Ryan Berry</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 5pt 5.75pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 3pt">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-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;
    </FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 5pt 5.75pt; border-bottom: Black 1pt solid; font-size: 10pt"><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; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 5pt 5.75pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 3pt">Citizenship or Place of Organization</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Canada</B></P></TD></TR>
  <TR>
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-right: Black 1pt solid; padding: 5pt 5.75pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: center"><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; text-align: center; border-bottom: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; vertical-align: top; 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: 5pt 5.75pt; vertical-align: top"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 3pt">Sole Voting Power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>782,926 <SUP>(1)</SUP></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; text-align: center; border-bottom: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; 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; border-bottom: Black 1pt solid; padding: 5pt 5.75pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 3pt">Shared Voting Power</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; text-align: center; border-bottom: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; 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; border-bottom: Black 1pt solid; padding: 5pt 5.75pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 3pt">Sole Dispositive Power</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>782,926 <SUP>(1)</SUP></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; text-align: center; border-bottom: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; 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; border-bottom: Black 1pt solid; padding: 5pt 5.75pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 3pt">Shared Dispositive Power</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; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 5pt 5.75pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 3pt">Aggregate Amount Beneficially Owned by Each Reporting Person</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>782,926 <SUP>(1)</SUP></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 5pt 5.75pt; border-bottom: Black 1pt solid; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Check
    if the Aggregate Amount in Row (9)&nbsp;Excludes Certain Shares (See Instructions)&#9;</FONT><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 5pt 5.75pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 3pt">Percent of Class&nbsp;Represented by Amount in Row (9)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>0.42% <SUP>(2)</SUP></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; text-align: center; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 5pt; padding-bottom: 5pt; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.</FONT></TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 5pt 5.75pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 3pt">Type of Reporting Person (See Instructions)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IN</B></P></TD></TR>
  <TR>
    <TD STYLE="text-align: center; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="text-align: center; width: 5%">&nbsp;</TD>
    <TD STYLE="width: 80%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;Represents (i)&nbsp;541,994 shares of Class&nbsp;A common
stock, par value $0.01 per share, of Issuer (&ldquo;Class&nbsp;A Shares&rdquo;) and (ii)&nbsp;240,932 Restricted Stock Units (&ldquo;RSUs&rdquo;),
each of which represents the right to receive one Class&nbsp;A Share, subject to certain vesting conditions.</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: Times New Roman, Times, Serif; font-size: 10pt">(2)&nbsp;Calculated
based on</FONT> 185,586,803 Class&nbsp;A Shares outstanding as of October&nbsp;31, 2023, as reported in the Issuer's Form&nbsp;10-Q filed
November&nbsp;6, 2023, as increased by 240,932 Class&nbsp;A Shares issuable in respect of 240,932 RSUs.</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%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 1(a).</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 1(b).</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">2000 Avenue of the Stars, 12<SUP>th</SUP>
    Floor</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">Los Angeles, California 90067</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2(a).</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This statement is filed by Ryan Berry, referred to herein as the &ldquo;<U>Reporting Person</U>.&rdquo;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2(b).</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">2000 Avenue of the Stars, 12<SUP>th</SUP>
    Floor</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2.05pt; text-indent: -2.05pt; background-color: white"><FONT STYLE="background-color: white">Los
    Angeles, California 90067</FONT></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2(c).</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Citizenship:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2(d).</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 2(e).</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">03990B 101</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 3.</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 4.</b></font></TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><B>Ownership.</b></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt">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 STYLE="padding-top: 5.05pt; padding-right: 2.15pt; padding-left: 2.15pt">&nbsp;</TD>
    <TD STYLE="padding-top: 2pt; padding-right: 2.15pt; padding-left: 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(a)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-right: 2.15pt; padding-left: 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000"><B>Amount
    beneficially owned:</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt"></TD>
    <TD COLSPAN="2" STYLE="padding: 2pt 2.15pt">See response to Item 9 on the cover
    page.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">(b)</TD>
    <TD COLSPAN="2" STYLE="padding: 2pt 2.15pt"><B>Percent
    of Class:</b></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 2pt 2.15pt">See response to Item 11 on the cover
    page.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">(c)&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 2pt 2.15pt"><B>Number of shares as to which the Reporting Person has:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt; width: 10%">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt; width: 4%">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #010000">(i)</FONT></TD>
    <TD STYLE="padding: 2pt 2.15pt; width: 82%"><B>Sole
power to vote or to direct the vote:</b></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">See response to Item 5 on the cover page.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">(ii)</TD>
    <TD STYLE="padding: 2pt 2.15pt"><B>Shared power to vote or to direct the vote:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">See response to Item 6 on the cover page.</TD></TR>

<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt; width: 10%">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt; width: 4%">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt; width: 4%">(iii)</TD>
    <TD STYLE="padding: 2pt 2.15pt; width: 82%"><B>Sole power to dispose or to direct</B> <B>the disposition of:</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">See response to Item 7 on the cover page.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">(iv)&nbsp;&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt"><B>Shared
    power to dispose or to direct the disposition of:</b></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt 2.15pt">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="font-size: 1pt; vertical-align: top">
    <TD STYLE="font-size: 1pt; padding-right: 2.15pt; padding-left: 2.15pt; width: 10%">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; padding-right: 2.15pt; padding-left: 2.15pt; width: 4%">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; padding-right: 2.15pt; padding-left: 2.15pt; width: 4%">&nbsp;</TD>
    <TD STYLE="font-size: 1pt; padding-right: 2.15pt; padding-left: 2.15pt; width: 82%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt">The
Reporting Person holds 541,994 Class&nbsp;A Shares and 240,932 RSUs. The Reporting Person, together with Michael J Arougheti, R. Kipp
deVeer, David B. Kaplan, Anthony P. Ressler and Bennett Rosenthal (each, a &ldquo;Board Member&rdquo; and collectively, the &ldquo;Board
Members&rdquo;) manage Ares Partners Holdco LLC (&ldquo;Ares Partners&rdquo;). Mr.&nbsp;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&nbsp;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&nbsp;A
Share subject to certain restrictions. Ares Owners holds 46,866 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&nbsp;13(d)&nbsp;of the Act and the rules&nbsp;thereunder.
Based solely on information reported in Statements on Schedule 13G filed by Ares Owners and the other Board Members, the Class&nbsp;A
Shares held by Ares Owners, if aggregated with other Class&nbsp;A Shares beneficially owned by each of the individual Board Members,
would equal 132,712,728 Class&nbsp;A Shares in the aggregate, including shares that may be acquired upon the exchange of AOG Units held
by Ares Owners and Class&nbsp;A Shares that may be acquired by the individual Board Members upon the vesting of RSUs held by such Board
Member, representing 43.61% of the outstanding Class&nbsp;A Shares (based on 185,586,803 outstanding shares and assuming the exchange
of such AOG Units and the vesting of such RSUs).</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt">The percentage reflected on the cover page&nbsp;to this schedule
    is based on 185,586,803 Class&nbsp;A Shares outstanding as of October&nbsp;31, 2023, as reported in the Issuer's Form&nbsp;10-Q filed
    November&nbsp;6, 2023, as increased by 240,932 Class&nbsp;A Shares issuable in respect of 240,932 RSUs.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt">The Reporting Person expressly disclaims the existence of,
    or membership in, a &ldquo;group&rdquo; within the meaning of Section&nbsp;13(d)(3)&nbsp;of the Act and Rule&nbsp;13d-5(b)&nbsp;thereunder
    with Ares Owners, Ares Partners, and the other Board Members, as well as beneficial ownership with respect to any Class&nbsp;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&nbsp;A Shares referred to herein for purposes of Section&nbsp;13(d)&nbsp;of the Act other than those shares reported on the cover
    page&nbsp;of this Schedule 13G, and such beneficial ownership is expressly disclaimed by the Reporting Person.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 5.</B></FONT></TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD COLSPAN="3" STYLE="padding: 5.05pt 2.15pt"><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="padding: 5.05pt 2.15pt; width: 10%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 6.</B></FONT></TD>
    <TD STYLE="padding: 5.05pt 2.15pt; width: 90%"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 7.</B></FONT></TD>
    <TD STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 8.</B></FONT></TD>
    <TD STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 9.</B></FONT></TD>
    <TD STYLE="padding: 5.05pt 2.15pt"><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 STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 10.</B></FONT></TD>
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Certification.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt">&nbsp;</TD>
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Not Applicable.</FONT></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: justify">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:&#8239;February 12, 2024</P>

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

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<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 10pt; text-indent: -0.01pt; width: 50%">&nbsp;</TD>
  <TD STYLE="width: 50%"><B>RYAN BERRY</B></TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 10pt; text-indent: -0.01pt">&nbsp;</TD>
  <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 10pt; text-indent: -0.01pt">&nbsp;</TD>
  <TD STYLE="border-bottom: Black 1pt solid">/s/ Ryan Berry</TD></TR>
</TABLE>


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