Ares Management

FUNDS

17

MEDIAN NET IRR

14.0%

MEDIAN TVPI

1.42x

LP SOURCES

5

ALL FUNDS

FUND	VINTAGE	COMMITMENT	NET IRR	TVPI	DPI	SOURCE
Ares Pathfinder Fund LP	—	—	—	—	—	SC RSIC ↗
Ares Jasper Fund	—	—	—	—	—	SC RSIC ↗
Ares Special Opportunities III	2025	$150M	0.0%	—	—	CalSTRS ↗
Ares Special Opportunities Fund II	2022	$100M	13.4%	1.26x	—	CalSTRS ↗
Ares Corporate Opportunities Fund VI, L.P.	2021	$250M	16.0%	1.00x	0.41x	CalPERS ↗
Ares PA Opportunities Fund, L.P. - Special Situations	2021	$130M	21.6%	1.50x	0.14x	PA SERS ↗
Ares Corporate Opportunities VI, L.P.	2020	$200M	15.6%	1.42x	0.35x	CalSTRS ↗
Ares PA Opportunities Fund, L.P. - Diversified Credit	2020	$70M	11.1%	1.30x	0.14x	PA SERS ↗
Ares Special Opportunities Fund, L.P.	2020	$50M	14.6%	1.54x	0.97x	CalSTRS ↗
Ares PA Opportunities Fund, L.P. - Distressed Debt	2019	$200M	15.5%	1.40x	0.35x	PA SERS ↗
Ares Energy Opportunities Fund	2019	$25M	-12.0%	—	0.10x	Colorado PERA ↗
Ares Corporate Opportunities Fund V, L.P.	2017	$150M	6.2%	—	0.45x	Colorado PERA ↗CalPERS ↗CalSTRS ↗
Ares Corporate Opportunities Fund IV, L.P.	2012	$75M	14.0%	—	1.66x	Colorado PERA ↗CalSTRS ↗
Ares Corporate Opportunities Fund III	2008	$75M	20.9%	—	2.12x	Colorado PERA ↗
Ares Corporate Opportunities Fund III, L.P.	2008	$400M	20.2%	2.07x	2.07x	CalPERS ↗
Ares Corporate Opportunities Fund II	2006	$60M	13.1%	—	1.65x	Colorado PERA ↗
Ares Corporate Opportunities Fund	2004	$45M	13.3%	—	1.53x	Colorado PERA ↗