[SCHEDULE 13G] Ares Management Corporation SEC Filing

Rhea-AI Filing Summary

BlackRock, Inc. has filed a Schedule 13G reporting passive ownership of Ares Management Corp. (NYSE: ARES) common stock as of 30 Jun 2025. The world’s largest asset manager now beneficially owns 11,156,107 shares, equal to 5.2 % of ARES’ outstanding stock, triggering the 5 % reporting threshold.

• Sole voting power: 9,983,360 shares
• Sole dispositive power: 11,156,107 shares
• Shared voting / dispositive power: 0 shares
• Filing basis: Rule 13d-1(b) – Parent holding company (HC)
• Certification: Shares held in the ordinary course; no intent to influence control
• Signatory: Spencer Fleming, Managing Director, 22 Jul 2025

The disclosure places BlackRock among ARES’ largest institutional holders, potentially enhancing liquidity and index inclusion support, but it does not reflect an activist stance or a change in corporate control.

Positive

• BlackRock’s 11.16 million-share position (5.2 %) signals continued institutional confidence in ARES.

Negative

• None.

Insights

Financial Analyst

TL;DR: Passive 5.2 % BlackRock stake adds institutional ballast; limited strategic impact.

Crossing the 5 % threshold means BlackRock’s index and ETF desks collectively hold a meaningful but non-controlling position in ARES. The passive nature (Schedule 13G vs. 13D) and lack of shared voting power suggest no activist intentions. While the holding may support trading liquidity and index demand—positives for valuation stability—it does not alter ARES’ strategic trajectory. Impact on share price is usually modest unless the market interprets rising institutional ownership as a confidence signal.

Corporate Governance Specialist

TL;DR: Ownership disclosure is routine; governance implications minimal.

BlackRock files under Rule 13d-1(b) as a parent holding company, reaffirming its stewardship policy rather than seeking board influence. Sole voting power allows BlackRock to exercise proxy votes consistent with its ESG guidelines, but with only 5.2 % it cannot unilaterally sway outcomes. No group formation or control intent is declared, and Item 10 certification confirms ordinary-course investment. Governance risk remains unchanged; therefore, the filing is informational, not transformational.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Ares Management Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

03990B101

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 03990B101

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 9,983,360.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 11,156,107.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

11,156,107.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Ares Management Corp
(b)	Address of issuer's principal executive offices: 1800 AVE OF THE STARS, SUITE 1400, LOS ANGELES, CALIFORNIA, 90067
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(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: 11,156,107
(b)	Percent of class: 5.2%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 9,983,360
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 11,156,107
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of ARES MANAGEMENT CORPORATION. No one person's interest in the common stock of ARES MANAGEMENT CORPORATION is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	07/22/2025

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7

FAQ

How many ARES shares does BlackRock own?

11,156,107 shares, representing 5.2 % of the company’s common stock.

Does BlackRock have activist intentions toward ARES?

No. The Schedule 13G and Item 10 certification state the shares are held in the ordinary course with no intent to influence control.

What voting power does BlackRock hold over ARES shares?

BlackRock has sole voting power over 9,983,360 shares and no shared voting power.

Why was the filing made now?

Crossing the 5 % ownership threshold as of 30 Jun 2025 required BlackRock to report under SEC rules.

Who signed the Schedule 13G for BlackRock?

Managing Director Spencer Fleming signed on 22 Jul 2025.