Ares Management, L.P. is a global alternative asset manager. The Company provides its investment management capabilities through various funds and products that meet the needs of a range of institutional and retail investors. The Company operates in four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group. The Company’s Tradable Credit Group is a participant in the tradable, non-investment grade corporate credit markets. The Company’s Direct Lending Group is a self-originating direct lender to the United States and European markets. The Company’s Private Equity Group manages five private equity commingled funds: ACOF I, ACOF II, ACOF III and ACOF IV, which focus primarily on North America and, to a lesser extent, Europe, and ACOF Asia, which focuses on growth equity opportunities in China. The Company’s Real Estate Group manages public and private equity and debt strategies.