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Ares Private Markets Fund (APMF)

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Overview

Overview

Ares Private Markets Fund (APMF or the “Fund”) is a private equity investment solution, anchored in secondary investments, that seeks to deliver attractive, long-term capital appreciation through market cycles.

Our goal is to reduce the risks of traditional private equity investing while providing enhanced diversification across managers and investments.1 The Fund’s accessible structure offers investors access to a portfolio of private equity assets, with enhanced transparency and liquidity through market cycles.2

Why consider Ares Private Markets Fund?3,4

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A portfolio of established private equity opportunities, with deal flows and due diligence similar to those that an institutional investor may receive.

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Accessible structure allows for monthly purchases, quarterly liquidity and 1099 reporting. 2

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Risk-managed process that seeks to minimize the risks associated with traditional private equity investing, including long lock-ups and concentrated holdings, while providing enhanced manager and investment diversification.3

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Experienced investment team with a 30+ year heritage of investing throughout market cycles. Ares Secondaries Group leverages the powerful sourcing and informational advantages of the Ares platform.

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Potential for long-term capital appreciation through a strategy that seeks to outperform the public markets over the medium to long term with low correlation.

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Enhanced transparency into the underlying holdings and their valuations—a view that traditional private equity funds typically do not provide.

APMF Fund At-a-Glance

As of December 31, 2023
Assets Under Management5
$791.7mm
Total Investments
123
Underlying Portfolio Companies
2000+
Number of Sectors
11
Investment Type

96% secondaries4

Share Class Overview

As of December 31, 2023

$29.94

NAV per share and Transaction Price for subscriptions accepted as of February 1, 2024

Offering Terms

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

Maximum Sales Load: None

Distribution and Servicing Fees: None

Management Fees: 1.40% on managed assets7

Incentive Fee: 12.50% (subject to high watermark)

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: 2.58%

Total Estimated Net Expenses at NAV9: 2.40%

$29.81

NAV per share and Transaction Price for subscriptions accepted as of February 1, 2024

Offering Terms

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

Maximum Sales Load: None

Distribution and Servicing Fees: 0.25%

Management Fees: 1.40% on managed assets7

Incentive Fee: 12.50% (subject to high watermark)

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: 2.83%

Total Estimated Net Expenses at NAV9: 2.65%

$29.75

NAV per share and Transaction Price for subscriptions accepted as of February 1, 2024

Offering Terms

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

Maximum Sales Load: 3.50%

Distribution and Servicing Fees: 0.85%

Management Fees: 1.40% on managed assets7

Incentive Fee: 12.50% (subject to high watermark)

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: 3.43%

Total Estimated Net Expenses at NAV9: 3.25%

Let’s Start a Conversation

Talk to us about how we can help you when it comes to private markets investing.

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1

Diversification cannot ensure a profit or protect against loss.

2

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.

3

Although 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.

4

Risks: 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.

5

The Fund's AUM is calculated as a sum of the Fund’s Net Asset Value as of December 31, 2023 ($704.9 million) and the amount of capital received from subscriptions effective January 2, 2024 is ($86.8 million).

6

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

7

Managed 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.

8

Before other expenses are deducted. 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. The Expense Limitation Agreement (fee waiver) has a term ending on July 31, 2024, and the Adviser may extend the term for a period of one year on an annual basis, subject to the approval of the Board, including a majority of the Independent Trustees.

9

After other expenses are deducted. 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. The Expense Limitation Agreement (fee waiver) has a term ending on July 31, 2024, and the Adviser may extend the term for a period of one year on an annual basis, subject to the approval of the Board, including a majority of the Independent Trustees.

Please read the applicable Ares Fund or Real Estate Income Trust ("REIT") Prospectus prior to making any investment decision and consider carefully the REIT’s or Funds’ investment objectives, risks, charges, expenses and other important information described therein. A copy of the REIT and Funds 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 Funds' Prospectuses. The REIT and Funds prospectuses do not constitute an offer to sell securities, nor a solicitation of an offer to buy their Shares in any state where the offer or sale is not permitted.

Ares Wealth Management Solutions does not offer investment advice. Individuals should consult a professional investment advisor.

Investments in the Ares Private Markets Fund, Ares Strategic Income Fund, or Ares REITs are not suitable for all investors. Investing in shares of the Funds 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 AREIT Summary Risk Factors and the Prospectus, AIREIT Summary Risk Factors and the Prospectus, and the APMF Summary Risk Factors and the Prospectus, and the ASIF Summary Risk Factors and the Prospectus for a complete list of the risks associated with the REITs, Ares Private Markets Fund, and Ares Strategic Income Fund 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 a criminal offense. Fund and REIT shares will be offered to the public through Ares Wealth Management Solutions, LLC, member of Financial Industry Regulatory Authority (FINRA) and SIPC, which will act as the dealer manager, and through other members of FINRA or with the assistance of registered investment advisors.

Check this firm’s Form CRS Customer Relationship Summary.

Check the background of this firm on FINRA’s Broker Check.

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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AccessAres is the thought-leadership and educational division of Ares Wealth Management Solutions. The materials distributed by AccessAres are for informational purposes only and do not constitute investment advice or a recommendation to buy, sell or hold any security, investment strategy or market sector. Ares Wealth Management Solutions is a global brand of Ares Management Corporation.