X0306 4 2015-12-15 0 0001176948 ARES MANAGEMENT LP ARES 0001464431 McFerran Michael R 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 0 1 0 0 EVP, CFO & Treasurer Common Units 2015-12-15 4 P 0 10000 12.7627 A 37248 D The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $12.67 to $12.82, inclusive. The Reporting Person undertakes to provide Ares Management, L.P., any security holder of Ares Management, L.P. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in footnote (1) to this Form 4. /s/ Michael R. McFerran 2015-12-16