<SEC-DOCUMENT>0001104659-24-118883.txt : 20241114
<SEC-HEADER>0001104659-24-118883.hdr.sgml : 20241114
<ACCEPTANCE-DATETIME>20241114160507
ACCESSION NUMBER:		0001104659-24-118883
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20241114
DATE AS OF CHANGE:		20241114
GROUP MEMBERS:		ARES OWNERS HOLDINGS L.P.

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:		241461791

	BUSINESS ADDRESS:	
		STREET 1:		1800 AVE OF THE STARS
		STREET 2:		SUITE 1400
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
		BUSINESS PHONE:		3102014100

	MAIL ADDRESS:	
		STREET 1:		1800 AVE OF THE STARS
		STREET 2:		SUITE 1400
		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:			Ares Partners Holdco LLC
		CENTRAL INDEX KEY:			0001620263
		ORGANIZATION NAME:           	
		IRS NUMBER:				465192240
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		1800 AVENUE OF THE STARS
		STREET 2:		SUITE 1400
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
		BUSINESS PHONE:		310-201-4100

	MAIL ADDRESS:	
		STREET 1:		1800 AVENUE OF THE STARS
		STREET 2:		SUITE 1400
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>tm2428451d2_sc13ga.htm
<DESCRIPTION>SC 13G/A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<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>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">&nbsp;</P>

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

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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>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;6)*</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"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin: 3pt auto; width: 25%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<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-size: 20pt"><B>Ares Management
Corporation</B></FONT><B><BR>
(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"><B>03990B 101<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>September&nbsp;30, 2024<BR>
(Date of Event Which Requires Filing of this Statement)</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"></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">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>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Rule&nbsp;13d-1(b)</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Rule&nbsp;13d-1(c)</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></TD><TD STYLE="text-align: justify">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>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 12pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border: Black 1pt solid; padding: 4pt 5.4pt; font-size: 10pt">1.</TD>
    <TD COLSPAN="3" STYLE="border-top: Black 1pt solid; padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><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"><B>Ares Partners Holdco LLC</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: 4pt 5.4pt; font-size: 10pt">2.</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid"><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">(a)&nbsp; <FONT STYLE="font-family: Wingdings">&uml;</FONT>&#8239;&#8239;&#8239;&#8239;(b)&nbsp;<FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#120;</FONT></FONT></FONT></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: 4pt 5.4pt; font-size: 10pt">3.</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; font-size: 10pt">SEC
    Use Only</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: 4pt 5.4pt; font-size: 10pt">4.</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid"><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"><B>Delaware</B></P></TD></TR>
  <TR>
    <TD COLSPAN="2" ROWSPAN="4" STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: center">Number
    of Shares<BR>
 Beneficially Owned<BR>
 By Each Reporting<BR>
 Person With</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; vertical-align: top; font-size: 10pt">5.</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; vertical-align: top"><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; text-indent: 2.25pt"><B>0</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; font-size: 10pt">6.</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt"><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"><B>118,695,885<SUP>(1)</SUP></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; font-size: 10pt">7.</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt"><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"><B>0</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt; font-size: 10pt">8.</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 4pt 5.4pt"><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"><B>118,695,885<SUP>(1)</SUP></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: 4pt 5.4pt; font-size: 10pt">9.</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid"><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"><B>118,695,885<SUP>(1)</SUP></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: 4pt 5.4pt; font-size: 10pt">10.</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid; font-size: 10pt">Check
    if the Aggregate Amount in Row (9)&nbsp;Excludes Certain Shares (See Instructions)&#9;<FONT STYLE="font-family: Wingdings">&uml;</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: 4pt 5.4pt; font-size: 10pt">11.</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Percent of Class&nbsp;Represented by Amount in Row (9)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>38.3%<SUP>(2)</SUP></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: 4pt 5.4pt; font-size: 10pt">12.</TD>
    <TD COLSPAN="3" STYLE="border-right: Black 1pt solid; padding: 4pt 5.4pt; border-bottom: Black 1pt solid"><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"><B>OO</B></P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 4%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 12%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 4%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 80%">&nbsp;</TD></TR>
  </TABLE>
<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">(1)&nbsp;Represents (i)&nbsp;7,520,729 shares of Class&nbsp;A common stock, par value $0.01 per share, of Issuer (&ldquo;Class&nbsp;A
Shares&rdquo;) and (ii)&nbsp;111,175,156 partnership units of the Ares Operating Group, which are convertible one for one into Class&nbsp;A
Shares, subject to certain restrictions (&ldquo;AOG Units&rdquo;).</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">(2)&nbsp;Calculated based on (i)&nbsp;198,390,128 Class&nbsp;A Shares
outstanding as of November&nbsp;1, 2024, as reported in the Issuer&rsquo;s Form&nbsp;10-Q filed November&nbsp;8, 2024, as increased by
(ii)&nbsp;111,175,156 Class&nbsp;A Shares issuable upon conversion of 111,175,156 AOG Units held by Ares Owners Holdings L.P. (&ldquo;Ares
Owners&rdquo;).</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="width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border: Black 1pt solid; font-size: 10pt">1.</TD>
    <TD COLSPAN="3" STYLE="padding: 4pt 5.4pt; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><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"><B>Ares Owners Holdings L.P.</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt">2.</TD>
    <TD COLSPAN="3" STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><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">(a)&nbsp; <FONT STYLE="font-family: Wingdings">&uml;</FONT>&#8239;&#8239;&#8239;&#8239;(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="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt">3.</TD>
    <TD COLSPAN="3" STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt">SEC
    Use Only</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt">4.</TD>
    <TD COLSPAN="3" STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><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"><B>Delaware</B></P></TD></TR>
  <TR>
    <TD COLSPAN="2" ROWSPAN="4" STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt; text-align: center">Number
    of Shares <BR>
Beneficially Owned <BR>
By Each Reporting<BR>
 Person With</TD>
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top; font-size: 10pt">5.</TD>
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; vertical-align: top"><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; text-indent: 2.25pt"><B>0</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt">6.</TD>
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><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"><B>118,695,885<SUP>(1)</SUP></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt">7.</TD>
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><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"><B>0</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt">8.</TD>
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><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"><B>118,695,885<SUP>(1)</SUP></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt">9.</TD>
    <TD COLSPAN="3" STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><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"><B>118,695,885<SUP>(1)</SUP></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt">10.</TD>
    <TD COLSPAN="3" STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font-size: 10pt">Check
    if the Aggregate Amount in Row (9)&nbsp;Excludes Certain Shares (See Instructions)&#9;<FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt">11.</TD>
    <TD COLSPAN="3" STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Percent of Class&nbsp;Represented by Amount in Row (9)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>38.3%<SUP>(2)</SUP></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font-size: 10pt">12.</TD>
    <TD COLSPAN="3" STYLE="padding: 4pt 5.4pt; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><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"><B>PN</B></P></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 4%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 12%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 4%">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; width: 80%">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&nbsp;Represents (i)&nbsp;7,520,729 Class&nbsp;A Shares and (ii)&nbsp;111,175,156 Class&nbsp;A Shares issuable upon conversion of
111,175,156 AOG Units.</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">(2)&nbsp;Calculated based on (i)&nbsp;198,390,128 Class&nbsp;A Shares
outstanding as of November&nbsp;1, 2024, as reported in the Issuer&rsquo;s Form&nbsp;10-Q filed November&nbsp;8, 2024, as increased by
(ii)&nbsp;111,175,156 Class&nbsp;A Shares issuable upon conversion of 111,175,156 AOG Units held by Ares Owners.</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="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; width: 12%; font-size: 10pt"><B>Item 1(a).</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; width: 88%; font-size: 10pt"><B>Name of Issuer:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">Ares Management Corporation (the &ldquo;Issuer&rdquo;)</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Item 1(b).</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Address of Issuer&rsquo;s Principal Executive Offices:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">1800 Avenue of the Stars,
    Suite&nbsp;1400</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-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Item 2(a).</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Names of Persons Filing:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">This statement is filed by the entities and persons listed below,
    each of whom is referred to herein as a &ldquo;Reporting Person&rdquo; and together as the &ldquo;Reporting Persons&rdquo;:</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ares
    Partners Holdco LLC (&ldquo;Ares Partners&rdquo;)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ares
    Owners Holdings L.P. (&ldquo;Ares Owners&rdquo; and, together with Ares Partners, the &ldquo;Ares Filing Persons&rdquo;)</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Item 2(b).</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Address of the Principal Business Office or, if None, Residence:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="background-color: white">1800 Avenue of the Stars,
    Suite&nbsp;1400</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-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Item 2(c).</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Citizenship:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">See responses to Item 4 on each cover page.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Item 2(d).</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Title of Class&nbsp;of Securities:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">Class&nbsp;A common stock, $0.01 par value per share</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Item 2(e).</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>CUSIP Number:</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">03990B 101</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Item 3.</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; 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></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">Not Applicable.</TD></TR>
</TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt; width: 12%"><B>Item 4.</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; width: 88%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.1pt"><B>Ownership.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.1pt">The information contained on each cover page&nbsp;to
    this Schedule 13G is incorporated herein by reference.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.1pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Amount
    beneficially owned:</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 5.25pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;See responses to Item 9 on each
    cover page.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 5.25pt">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Percent
of Class:</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 5.25pt">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;See
responses to Item 11 on each cover page.</P></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="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt; width: 12%">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; width: 88%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.1pt"><B></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 5.25pt"></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(c)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<B>Number
    of shares as to which the Reporting Person has:</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-indent: 0.5in">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;(i)&#8239;&#8239; &#8239;&#8239;&#8239;&#8239;<B>Sole
    power to vote or to direct the vote:</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 5.25pt">&#8239;&#8239;&#8239;&#8239;See responses to Item 5 on each cover
    page.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-indent: 0.5in">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;(ii)&#8239; <B>&#8239;&#8239;&#8239;Shared
    power to vote or to direct the vote:</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 5.25pt">&#8239;&#8239;&#8239;&#8239;See responses to Item 6 on each cover
    page.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-indent: 0.5in">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
    &#8239;&#8239;&#8239;(iii)&#8239;&#8239;&#8239;&#8239;&#8239;<B>Sole power to dispose or to direct the disposition of:</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 5.25pt">&#8239;&#8239;&#8239; See responses
    to Item 7 on each cover page.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-indent: 0.5in">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;(iv)&#8239;&#8239;&#8239;&#8239;<B>Shared
    power to dispose or to direct the disposition of:</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 5.25pt">&#8239;&#8239;&#8239;&#8239;See responses to Item 8 on each cover
    page.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The securities reported on this Schedule 13G include
    an aggregate of&nbsp;7,520,729 Class&nbsp;A Shares held by Ares Owners and an aggregate of 111,175,156 AOG Units held by Ares Owners.
    The general partner of Ares Owners is Ares Partners. Ares Partners is managed by a board of managers, which is composed of Michael
    J Arougheti, Ryan Berry, R. Kipp deVeer, David B. Kaplan, Antony P. Ressler and Bennett Rosenthal (each a &ldquo;Board Member&rdquo;
    and collectively, the &ldquo;Board Members&rdquo;). Mr.&nbsp;Ressler generally has veto authority over decisions of the 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 123,893,554 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
    Restricted Stock Units (&ldquo;RSUs&rdquo;) held by such Board Member, representing 40.02% of the outstanding Class&nbsp;A Shares
    (based on 198,390,128 outstanding shares and assuming the exchange of such AOG Units and the vesting of such RSUs).</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">The percentages reflected on the cover pages&nbsp;to
    this Schedule&nbsp;13G are calculated based on (i)&nbsp;an aggregate of 198,390,128 Class&nbsp;A Shares outstanding as of November&nbsp;1,
    2024, as reported in the Issuer&rsquo;s Form&nbsp;10-Q filed November&nbsp;8, 2024, as increased by (ii)&nbsp;111,175,156 Class&nbsp;A
    Shares issuable in respect of 111,175,156 AOG Units held by Ares Owners.</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Item 5.</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Ownership of Five Percent or Less of a Class.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">Not Applicable.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Item 6.</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Ownership of More than Five Percent on Behalf of Another Person.</B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The limited partners of Ares Owners have the right to receive
    dividends from, or proceeds from the sale of, the Class&nbsp;A Shares that are held of record by Ares Owners on behalf of such
    limited partner. Ares Owners holds greater than 5% of the Class&nbsp;A Shares on behalf of Mr.&nbsp;Ressler, or on behalf of a
    vehicle Mr.&nbsp;Ressler controls. No other person has the right to receive dividends from, or the proceeds from the sale of, more
    than five percent of the Class&nbsp;A Shares. Calculated as of September 30, 2024, Ares Owners holds the following amounts of
    Class&nbsp;A Shares and AOG Units on behalf of the individual Board Members, or on behalf of a vehicle controlled by such Board
    Member, in their capacity as limited partners of Ares Owners:</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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    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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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"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font-size: 10pt"><B>Board Member</B></TD><TD STYLE="font-size: 10pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-size: 10pt"><B>Class&nbsp;A Shares</B></TD><TD STYLE="font-size: 10pt"><B>&nbsp;</B></TD><TD STYLE="font-size: 10pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-size: 10pt"><B>AOG Units</B></TD><TD STYLE="font-size: 10pt"><B>&nbsp;</B></TD><TD STYLE="font-size: 10pt"><B>&nbsp;</B></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center; font-size: 10pt"><B>Total</B></TD><TD STYLE="font-size: 10pt"><B>&nbsp;</B></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 61%; font-size: 10pt; text-align: left">Michael J Arougheti</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">0</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">9,271,596</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; font-size: 10pt; text-align: right">9,271,596</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Ryan Berry</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">46,866</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">46,866</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">R. Kipp deVeer</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">0</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,210,409</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,210,409</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">David B. Kaplan</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,180,052</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8,671,596</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9,851,648</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-size: 10pt; text-align: left">Antony P. Ressler</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">5,235,625</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">49,764,375</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">55,000,000</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 10pt; text-align: left">Bennett Rosenthal</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">1,105,052</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">8,671,596</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">9,776,648</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; width: 12%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7.</B></P></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; width: 88%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Identification and Classification of the Subsidiary Which Acquired
    the Security Being Reported on by the Parent Holding Company or Control Person.</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">Not Applicable.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Item 8.</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Identification and Classification of Members of the Group.</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt">Not Applicable.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt; font-size: 10pt"><B>Item 9.</B></TD>
    <TD STYLE="padding-top: 4pt; padding-bottom: 4pt"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Notice of Dissolution of Group.</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">Not Applicable.</P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt; width: 12%"><FONT STYLE="font-size: 10pt"><B>Item 10. </B></FONT></TD>
    <TD STYLE="padding: 5.05pt 2.15pt; width: 88%"><FONT STYLE="font-size: 10pt"><B>Certification. </B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding: 5.05pt 2.15pt"><FONT STYLE="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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    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: rgb(51,51,51) 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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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: November&nbsp;14, 2024</P>

<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">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>ARES PARTNERS HOLDCO LLC</b></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 45%">/s/ Anton Feingold</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Anton Feingold</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Authorized Signatory</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 238.5pt"></P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>ARES OWNERS HOLDINGS L.P.</b></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%">By:</TD>
    <TD STYLE="width: 45%">Ares Partners Holdco LLC, its general partner</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Anton Feingold</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Name:</TD>
    <TD>Anton Feingold</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Title:</TD>
    <TD>Authorized Signatory</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 238.5pt">&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>

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