| Item 1. | |
| (a) | Name of issuer:
Ares Management Corporation |
| (b) | Address of issuer's principal executive offices:
1800 Avenue of the Stars Suite 1400 Los Angeles, CA, 90067 |
| Item 2. | |
| (a) | Name of person filing:
This statement is filed by Ryan Berry, referred to herein as the "Reporting Person." |
| (b) | Address or principal business office or, if none, residence:
1800 Avenue of the Stars, Suite 1400
Los Angeles, CA 90067 |
| (c) | Citizenship:
See response to Item 4 on the cover page. |
| (d) | Title of class of securities:
Class A common stock, par value $0.01 per share |
| (e) | CUSIP No.:
03990B101 |
| Item 3. | If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: |
| (a) |  Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
|
| (b) | Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
|
| (c) | Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
|
| (d) | Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
|
| (e) | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
|
| (f) | An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
|
| (g) | A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
|
| (h) | A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
|
| (i) | A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
|
| (j) | A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
|
| (k) | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
|
| | |
| Item 4. | Ownership |
| (a) | Amount beneficially owned:
See response to Item 9 on the cover page.
The securities reported on this Schedule 13G include an aggregate of 541,528 Class A Shares which includes 201,702 RSUs reported on the cover page of this Schedule 13G. |
| (b) | Percent of class:
See response to Item 11 on the cover page.
The percentage reflected on the cover page to this Schedule 13G is calculated based on (i) an aggregate of 203,362,482 Class A Shares outstanding as of December 31, 2024, as reported by the Issuer, as increased by (ii) 201,702 Class A Shares issuable in respect of RSUs held by the Reporting Person.
Due to the Reporting Person ceasing to be a member of the Board of Managers of Ares Partners Holdco LLC, the Reporting Person is no longer considered part of a group which could be deemed to beneficially own more than 5% of the outstanding Class A Shares. |
| (c) | Number of shares as to which the person has:
|
| | (i) Sole power to vote or to direct the vote:
See response to Item 5 on the cover page.
|
| | (ii) Shared power to vote or to direct the vote:
See response to Item 6 on the cover page.
|
| | (iii) Sole power to dispose or to direct the disposition of:
See response to Item 7 on the cover page.
|
| | (iv) Shared power to dispose or to direct the disposition of:
See response to Item 8 on the cover page.
|
| Item 5. | Ownership of 5 Percent or Less of a Class. |
| | 
Ownership of 5 percent or less of a class
|
| Item 6. | Ownership of more than 5 Percent on Behalf of Another Person. |
| |
Not Applicable
|
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
| |
Not Applicable
|
| Item 8. | Identification and Classification of Members of the Group. |
| |
Not Applicable
|
| Item 9. | Notice of Dissolution of Group. |
| |
Not Applicable
|