Ares Management announced 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.

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.