News Column

Ares Management Expands Revolving Credit Facility

May 19, 2014

New Five-Year Facility Increased to $1 Billion

LOS ANGELES--(BUSINESS WIRE)-- Ares Management, L.P. (NYSE: ARES) announced today that on May 7, 2014, it closed its amended and restated revolving credit facility (the “Facility”) that was entered into in connection with Ares Management’s initial public offering. The amendment, among other things, increased the size of the Facility from $735 million to more than $1 billion and extended the Facility’s maturity from December 2017 to April 2019. The Facility also contains an accordion feature which permits, under certain conditions, the expansion of commitments under the Facility to more than $1.25 billion. The Facility is currently priced at LIBOR + 1.75%.

“We are pleased to have upsized and extended the maturity on our credit facility, with five of our existing lenders increasing their commitments,” said Michael Arougheti, President of Ares Management. “The increased size and low interest rate of the facility provide us with additional flexibility to support our growth for future years. We greatly appreciate the strong and loyal support from our existing lenders and welcome the five new lenders that have joined the facility.”

Merrill Lynch, Pierce, Fenner & Smith Incorporated and J.P. Morgan Securities LLC acted as joint lead arrangers and joint bookrunners, JPMorgan Chase Bank, N.A. acted as administrative agent, Bank of America, N.A. acted as syndication agent and Morgan Stanley Bank, N.A., SunTrust Bank and Wells Fargo Bank, National Association acted as documentation agents.

Ares Management was represented by Latham & Watkins LLP and the lenders were represented by Milbank, Tweed, Hadley & McCloy LLP.

About Ares Management, L.P.

Ares is a leading global asset manager with approximately $74 billion of assets under management and approximately 700 employees in more than 15 offices in the United States, Europe and Asia as of December 31, 2013. Since its inception in 1997, Ares has adhered to a disciplined investment philosophy that focuses on delivering strong risk-adjusted investment returns throughout market cycles. Ares believes each of its four distinct but complementary investment groups in Tradable Credit, Direct Lending, Private Equity and Real Estate is a market leader based on assets under management and investment performance. Ares was built upon the fundamental principle that each group benefits from being part of the greater whole.

Cautionary Note Regarding Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that reflect Ares Management, L.P.’s (the “Company”) current views with respect to, among other things, future events and financial performance. Forward-looking statements can be identified by the use of terminology such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of those words or other comparable words. The forward-looking statements are based on the Company’s beliefs, assumptions and expectations of future performance, taking into account all information currently available to the Company. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to the Company’s operations, financial results, financial condition, business prospectus, growth strategy and liquidity. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from those indicated in these forward-looking statements. New risks and uncertainties arise over time, and it is not possible for the Company to predict those events or how they may affect it. Therefore, you should not place undue reliance on these forward-looking statements. The Company does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.



Ares Management, L.P.

Carl G. Drake, 1-888-818-5298

cdrake@aresmgmt.com

Source: Ares Management, L.P.


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