Ares Establishes the Ares Charitable Foundation

Ares Management Corporation, a leading worldwide alternative investment manager, announced the establishment of the Ares Charitable Foundation today. The Ares Foundation will provide grants to nonprofit organizations whose programming offers Career Preparation & Reskilling, supports Entrepreneurship, and improves people's understanding of Personal Finance to advance economic opportunity equality.

The work of the Ares Foundation is made possible by Ares, which plans to contribute up to 5% of its yearly realized net performance income from selected Ares funds to the Ares Foundation, further aligning the Firm's investing operations with its social effect. Furthermore, the Ares Foundation will depend on the generosity of Ares employees, who may contribute cash, stock, or a part of their realized profits from a carried interest in certain funds. Nearly $30 million in initial employee commitments have been made.

The Ares Foundation will work strategically with Nonprofits across the world that fulfill its requirements for programming, organizational capability, organizational culture, and dedication. Through Ares in Motion (AIM), the Firm's philanthropic employee engagement initiative, most grantmaking will be employee-directed and offer skills-based volunteer opportunities. Connecting Ares professionals to the Ares Foundation's projects will increase their understanding of philanthropy and nonprofit operations, allowing them to contribute to the communities in which they live and work. Furthermore, the Ares Foundation plans to collaborate with Ares' portfolio businesses and industry partners to encourage donation and participation.

One of the Ares Foundation's investments is "AltFinance: Investing in Black Futures," a newly announced, industry-first project in partnership with Apollo Global Management and Oaktree Capital Management aimed at diversifying the alternative investment sector. AltFinance is designed to offer students from Historically Black Colleges and Universities clear paths to jobs in the alternative investment sector, in line with the Ares Foundation's awards for Career Preparation and Reskilling. The project is divided into three parts: a supervised fellowship program, a customized virtual institution, and a scholarship program.

Philanthropy is one of Ares' three pillars that represent the Firm's commitment to accelerate shared prosperity, alongside environmental, social, and governance initiatives, as well as diversity, equality, and inclusion efforts. The three pillars embody Ares' fundamental principles and help drive business operations and investment activities via what is known as Impact at Ares.

About Ares Management Corporation
Ares Management Corporation is a worldwide alternative investment manager that provides clients with complementary primary and secondary investment solutions in credit, private equity, real estate, and infrastructure asset classes. We aim to offer flexible financing to companies while also creating value for our stakeholders and communities. We strive to produce consistent and attractive investment returns throughout market cycles by working across our investment units. Ares Management's global platform had over $227 billion in assets under management as of March 31, 2021, including the purchase of Landmark Partners, which was completed on June 2, 2021, with over 1,600 employees operating throughout North America, Europe, Asia Pacific, and the Middle East.

About the Ares Charitable Foundation
Ares Management Corporation, a leading worldwide alternative investment manager, sponsors the Ares Charitable Foundation, a 501(c)(3) qualified organization. The Ares Foundation, founded in 2020, expects to achieve long-term, measurable impact through global strategic investments in nonprofit programming that provides Career Preparation & Reskilling, encourages entrepreneurship and deepens individuals' understanding of Personal Finance to pursue a better future.