Item 1.01 Entry into a Material Definitive Agreement.



On March 31, 2022, Ares Holdings L.P., a Delaware limited partnership ("Ares
Holdings"), (the "Borrower") and certain subsidiaries of Ares Management
Corporation (the "Company") entered into Amendment No. 11 (the "Credit Facility
Amendment") to the Sixth Amended and Restated Credit Agreement, dated as of
April 21, 2014 (as amended through and including the Credit Facility Amendment,
the "Credit Agreement"), by and among the Borrower, the guarantors party
thereto, the lenders party thereto and JPMorgan Chase Bank, N.A., as agent.

The Credit Facility Amendment, among other things, (i) extends the maturity of
the credit facility under the Credit Agreement to March 31, 2027, (ii) increases
the revolver commitments under the Credit Agreement to $1,275,000,000 and the
accordion feature to $375,000,000, for an aggregate amount not to exceed
$1,650,000,000, (iii) updates certain currency references rates, including
replacing the LIBOR rate with Term SOFR plus an applicable credit spread
adjustment, (iv) modifies certain covenant restrictions and (v) makes certain
other technical amendments to the provisions of the Credit Agreement.

The Credit Facility Amendment reduces the applicable margin under certain
circumstances as follows, and pursuant to sustainability-linked provisions
therein, the unused commitment fee and applicable margin may be adjusted further
upon meeting certain environmental, social, and governance-related targets,
including in respect of measurements of greenhouse gas emissions, and diversity
with respect to employees and third-party supplier spend:

                                                                       Prior Applicable    Amended Applicable
  Senior Long-Term              Prior            Amended Commitment    Margin for LIBOR      Margin for Term     Prior Applicable  Amended Applicable

Unsecured Debt Commitment Fee Rate Fee Rate (2) Rate Loans and Benchmark Loans, RFR Margin for Base Margin for Base


       Ratings                                                         Letters of Credit  Loans and Letters of      Rate Loans       Rate Loans (3)
                                                                                               Credit (3)
       ? A+/A1                 0.060%                  0.060%               0.875%               0.750%               0.00%              0.00%
       ? A/A2                  0.080%                  0.080%               1.000%               0.875%               0.00%              0.00%
     ? A-/A3(1)                0.100%                  0.100%               1.125%               1.000%               0.125%             0.00%
     ? BBB+/Baa1               0.125%                  0.125%               1.250%               1.125%               0.250%             0.125%
     ? BBB/Baa2                0.150%                  0.150%               1.375%               1.250%               0.375%             0.250%



(1) Represents the Senior Long-Term Unsecured Debt Ratings of the Company as of
the date of this Current Report on Form 8-K.
(2) Subject to Sustainability Fee Adjustment of plus or minus 0.01% based on
applicable environmental, social, and governance-related targets.
(3) Subject to Sustainability Margin Adjustment of plus or minus 0.05% based on
applicable environmental, social, and governance-related targets.

A copy of the Credit Facility Amendment is attached to this Current Report on
Form 8-K as Exhibit 10.1 and is incorporated by reference into this Item 1.01 as
though fully set forth herein. The foregoing summary description of the Credit
Facility Amendment is not intended to be complete and is qualified in its
entirety by the complete text of the Credit Facility Amendment.

Item 9.01 Financial Statements and Exhibits.



(d)                Exhibits:

Exhibit Number                                              Description

               10.1          Amendment No. 11, dated as of March 31, 2022, to the Sixth Amended and
                             Restated Credit Agreement, dated as of April

21, 2014, by and among Ares


                             Holdings L.P., the Guarantors party thereto,

the Lenders party thereto


                             and JPMorgan Chase Bank, N.A.
           104               Cover Page Interactive Data File - the cover

page XBRL tags are embedded


                             within the Inline XBRL document





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