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Investment Solutions

Ares Private Markets Fund (APMF)

Differentiated Access to Private Equity, Principally Through Secondary Investing

Product Overview Performance Literature & Resources Regulatory Filings Tax Information Request Information

Class I Share

$25.53 NAV per share and Transaction Price For subscriptions accepted as of January 1, 2023 More Information

Class D Share

$25.50 NAV per share and Transaction Price For subscriptions accepted as of January 1, 2023 More Information

Introduction

Ares Private Markets Fund is a diversified private equity investment solution that seeks to deliver attractive, long-term capital appreciation.

Our dynamic and flexible allocation to private equity, anchored principally in traditional secondaries, helps to reduce J-curve¹ and vintage risk², while providing enhanced manager and investment diversification. The Fund is offered in an investor-friendly structure which allows individual investors the ability to get invested in – and stay invested in – institutional-quality private equity assets, with the benefits of enhanced transparency and liquidity through market cycles³, with historically low correlation to public equities.

Why Ares Private Markets Fund?

Cycle-tested platform and team: Ares Secondaries Group is a market-leading secondaries platform with 30+ year history, track record and experience investing across private markets through market cycles. Learn more about Ares Secondaries Solutions Group here.
Risk Management Strategy: Dynamic and diversified allocation to private equity, executed primarily through traditional LP secondaries and GP-led transactions, helps to reduce J-curve, vintage and single-manager risk that would exist with a direct LP or GP investment. See the notes at the bottom of the page for information about risks of an investment in the Fund.
Strategic Alignment: Investors can benefit from similar deal flow as institutional investors; Gain access to a seed portfolio of seasoned assets.

Enhanced Visibility: Transparency into underlying assets and ability to deploy capital at NAV.
Attractive Early-Stage Economics: Discounted management fee payable quarterly until March 31, 2023.
Investor-Friendly Structure: ’40 Act registered, which allows for monthly purchases, quarterly liquidity, and 1099 reporting.³
Broad Eligibility: Accredited Investors that are also Qualified Clients in taxable and tax-exempt (qualified) accounts.⁴

Potential Benefits

Opportunity for long-term capital appreciation, with low correlation to public equities
Opportunity to reduce J-curve and vintage risk, while providing enhanced manager and investment diversification⁵

Portfolio At-A-Glance

As of December 31, 2022

$277.7M Assets Under Management

20 Total Investments

View Fact Sheet for Detailed Information

Share Class Overview

As of December 31, 2022

Class I Share
Class D Share

$25.53

NAV per share and Transaction Price

For subscriptions accepted as of January 1, 2023

Offering Terms

Initial/Subsequent Minimum Investment: $1,000,000⁶/$5,000

Maximum Sales Load: None

Distribution and Servicing Fee: None

Management Fees:

0.25% on managed assets⁷ payable quarterly until March 31, 2023
1.40% on managed assets thereafter

Incentive Fee: 12.50% per annum payable quarterly, subject to a high-water mark with a reset mechanism

Expense Limitation Agreement: The Adviser has agreed to waive fees or assume expenses of the Fund so that “Other Expenses”⁶ do not exceed 0.30% per annum of the Fund’s average monthly net assets of each share class

Total Estimated Gross Expenses at NAV⁸: 3.66%

Total Estimated Net Expenses at NAV⁹: 2.18%

$25.50

NAV per share and Transaction Price

For subscriptions accepted as of January 1, 2023

Offering Terms

Initial/Subsequent Minimum Investment: $25,000/$5,000

Maximum Sales Load: None

Distribution and Servicing Fee: 0.25%

Management Fees:

0.25% on managed assets⁷ payable quarterly until March 31, 2023
1.40% on managed assets thereafter

Incentive Fee: 12.50% per annum payable quarterly, subject to a high-water mark with a reset mechanism

Total Estimated Gross Expenses at NAV⁸: 3.91%

Total Estimated Net Expenses at NAV⁹: 2.43%

Fund Strategy

Dynamic and flexible allocation to private equity, investing primarily through traditional LP secondaries and GP-led transactions

Enhanced diversification through strategic primary commitments and direct investments

Leverages powerful sourcing and informational advantages captured by the Ares platform

Intensive focus on active manager selection, with emphasis on established US and EU private equity funds

Performance

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Literature & Resources

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¹The J-curve represents the tendency of private equity funds to post negative returns in the initial years and then post increasing returns in later years when the investments mature.

²A private equity fund's vintage year is the year in which it makes its first investment. Funds of a certain vintage may benefit or be negatively affected by economic circumstances occurring after the year in which the investment is deployed. Investors can help mitigate the impact of vintage performance volatility, or risk, by allocating across multiple vintages and selecting high-quality investment managers.

³The Fund expects to offer investors limited quarterly liquidity through a tender offer process. Under normal market conditions, the Fund's investment adviser, Ares Capital Management II LLC (the "Adviser") expects to recommend that the Fund repurchase 5% of its outstanding shares of beneficial interest of the Fund ("Shares") at their net asset value (NAV). No assurance can be given that such tender offers will be approved by the Fund's Board of Trustees. If a tender offer is oversubscribed, investors may be subject to a pro rata reduction in the Shares ultimately repurchased by the Fund unless the Fund increases the size of the tender offer. All terms of each tender offer will be publicly disclosed

⁴Although the Shares will be registered under the Securities Act, the Shares will be sold only to persons or entities that are both “accredited investors,” as defined in Section 501(a) of Regulation D under the Securities Act, and “qualified clients,”as defined in Rule 205-3 under the Advisers Act. The qualifications required to invest in the Fund will appear in subscription documents that must be completed by each prospective investor.

⁵Risks: an investment in Shares is speculative with a substantial risk of loss. The Fund and the Adviser do not guarantee any level of return or risk on investments and there can be no assurance that the Fund’s investment objective will be achieved. You should carefully consider these risks together with all of the other information contained in the Prospectus before making a decision to invest in the Fund. See the Prospectus for more detail on specific risks of the Fund. Investors should carefully consider investment objectives, risks, charges and expenses of the Fund. This and other important information is contained in the Fund's Prospectus, which can be obtained from a financial professional or by clicking here. The Prospectus should be read carefully before investing.

⁶The stated minimum investment for Class I Shares may be reduced for certain investors.

⁷Managed Assets –The total assets of the Fund (including any assets attributable to any borrowings or other indebtedness or preferred shares that may be issued) minus the Fund’s liabilities other than liabilities relating to borrowings or other indebtedness.

⁸Before fee waiver and/or expense reimbursement which caps management fee at 0.25% and other expenses at 0.30% until 3/31/2023. Other Expenses exclude the Advisory Fee, Incentive Fee, any Distribution and Servicing Fee, interest, taxes, brokerage commissions, acquired fund fees and expenses, dividend and interest expenses relating to short sales and extraordinary expenses, if any.

⁹The net expense ratio reflects the Fund Adviser's contractual Expense Limitation Agreement that is in place until 3/31/23. At that time the fee waiver and reimbursement agreement may be renewed, on an annual basis, or terminated.

Please read the applicable Ares REIT or Fund Prospectus prior to making any investment decision and consider carefully the REIT’s or Fund’s investment objective, risks, charges, expenses and other important information described therein. A copy of our REIT and Fund Prospectuses, which contain this and other information about the REIT or Fund, must be made available to you in connection with any offering of the Shares. Click here to view the REIT and Fund Prospectuses. The REIT and Fund’s Prospectuses are not an offer to sell Shares and are not soliciting an offer to buy their Shares in any state where the offer or sale is not permitted.

Investments in the Ares Private Markets Fund or Ares REITs are not suitable for all investors. Investing in shares of the Fund or REITs involves a high degree of risk, including the risk that payment of distributions is uncertain and cannot be guaranteed, the risk that an investment is not liquid, and the risk that stockholders may lose the entire amount of their investment. Please review the Summary Risk Factors and the Prospectus for a complete list of the risks associated with Ares Fund and REIT investments.

No offering is made except by a prospectus filed with the Department of Law of the State of New York. Neither the SEC nor any other state securities regulator has approved or disapproved of the securities described in the prospectus or determined if the prospectus is truthful or complete. In addition, the Attorney General of the state of New York has not passed on or endorsed the merits of the offering. Any representation to the contrary is unlawful. Fund and REIT shares will be offered to the public through Ares Wealth Management Solutions, LLC, member FINRA and SIPC, which will act as the dealer manager, and through other members of the Financial Industry Regulatory Authority (FINRA) or with the assistance of registered investment advisors. Unless noted otherwise, all properties shown are owned by AREIT.

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Our prospectuses are provided in Adobe PDF format. The Adobe Reader software can be downloaded here.

NOT A DEPOSIT • NOT FDIC INSURED • NOT GUARANTEED BY THE BANK • MAY LOSE VALUE • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

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