Ares Management Corporation (‘Ares') announced the launch of Ares Private Markets Fund (the ‘Fund'), a new registered, continuously offered, non-traded, closed-end fund that intends to invest in an actively managed portfolio of private equity and other private assets principally through secondary market fund investments, and, to a lesser degree, primary fund investments and direct co-investments. The Fund has been launched with more than $250 million in initial capital, including investments from two significant institutional investors as well as a $75 million investment directly from Ares. Leveraging the strength of the global Ares platform and the depth of Ares' Secondary Solutions Group, the Fund intends to invest in a diversified portfolio of private equity fund stakes backed by leading private equity sponsors in both the U.S. and Europe.

Through Landmark Partners, Ares' Secondary Solutions Group has a 30-year track record and is one of the large and most experienced investors in acquiring secondary private fund ownership stakes in the alternative asset management industry. Ares' Secondaries Solutions has more than 75 dedicated investment and research professionals and over $22 billion in assets under management, as of December 31, 2021. The Fund will be distributed through Ares Wealth Management Solutions (‘AWMS') and will be available through registered investment advisors and financial advisors across the U.S. The Fund is a closed-end fund registered under the Investment Company Act of 1940, as amended, with its common shares registered under the Securities Act of 1933, as amended.

The Fund intends to qualify as a ‘regulated investment company' under the Internal Revenue Code and offer simple 1099 tax reporting to investors. The Fund offers a single capital call structure through a monthly subscription process with limited liquidity via quarterly tender offers for up to 5% of the Fund's net assets.