Statement of Changes in Beneficial Ownership - Form 4

Ownership Submission

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * KAPLAN DAVID B 2. Issuer Name and Ticker or Trading Symbol Ares Management Corp [ARES] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Co-Founder (Last) (First) (Middle) 1800 AVENUE OF THE STARS, SUITE 1400 3. Date of Earliest Transaction (Month/Day/Year) 11/27/2024 (Street) LOS ANGELES, CA 90067 4. If Amendment, Date Original Filed (Month/Day/Year) 6. Individual or Joint/Group Filing (Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock 11/27/2024 S(1) 17,080 D $174.92(2) 13,600 I By Trently Holdings, LLC Class A Common Stock 11/27/2024 S(1) 5,400 D $176.14(3) 8,200 I By Trently Holdings, LLC Class A Common Stock 11/27/2024 S(1) 1,100 D $177.34(4) 7,100 I By Trently Holdings, LLC Class A Common Stock 11/27/2024 S(1) 2,800 D $178.51(5) 4,300 I By Trently Holdings, LLC Class A Common Stock 11/27/2024 S(1) 4,100 D $179.21(6) 200 I By Trently Holdings, LLC Class A Common Stock 11/27/2024 S(1) 200 D $179.97 0 I By Trently Holdings, LLC Class A Common Stock 1,150,052 I By Ares Owners Holdings L.P.(7)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)	5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)	6. Date Exercisable and Expiration Date (Month/Day/Year)	7. Title and Amount of Underlying Securities (Instr. 3 and 4)	8. Price of Derivative Security (Instr. 5)	9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Director	10% Owner	Officer	Other
KAPLAN DAVID B 1800 AVENUE OF THE STARS SUITE 1400 LOS ANGELES, CA 90067	X		Co-Founder

Signatures

/s/ Anton Feingold, by power of attorney	12/02/2024
**Signature of Reporting Person	Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This transaction was effected pursuant to a 10b5-1 trading plan adopted on August 16, 2024 by the reporting person, or a vehicle controlled by him.
(2)	The price reported in Column 4 is a weighted average price. These shares were sold on November 27, 2024 in multiple transactions at prices ranging from $174.60 to $175.54. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote and footnotes 3, 4, 5 and 6.
(3)	The price reported in Column 4 is a weighted average price. These shares were sold on November 27, 2024 in multiple transactions at prices ranging from $175.63 to $176.62.
(4)	The price reported in Column 4 is a weighted average price. These shares were sold on November 27, 2024 in multiple transactions at prices ranging from $176.66 to $177.60.
(5)	The price reported in Column 4 is a weighted average price. These shares were sold on November 27, 2024 in multiple transactions at prices ranging from $177.95 to $178.94.
(6)	The price reported in Column 4 is a weighted average price. These shares were sold on November 27, 2024 in multiple transactions at prices ranging from $178.96 to $179.78.
(7)	The reporting person or a vehicle controlled by him is a limited partner in Ares Owners Holdings L.P. ("AOH"), the direct holder of the shares of Class A Common Stock. The shares of Class A Common Stock indirectly held by the reporting person or the vehicle are the number of shares of Class A Common Stock that he or the vehicle has a right to receive as a limited partner in AOH.

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