X0306 4 2016-01-20 0 0001176948 ARES MANAGEMENT LP ARES 0001267619 WEINER MICHAEL D 2000 AVENUE OF THE STARS 12TH FLOOR LOS ANGELES CA 90067 0 1 0 0 EVP, CLO & Secretary Common Units 2016-01-20 4 A 0 15280 0 A 54227 D Common Units 154572 I By Ares Owners Holdings L.P. Reflects a grant of 15,280 restricted units, each of which represents the right to receive one Common Unit upon vesting. The restrictions are scheduled to lapse in four equal installments on January 20, 2017, 2018, 2019 and 2020. Also includes 28,947 restricted units granted on May 1, 2014, each of which represents the right to receive one Common Unit upon vesting. The restrictions are scheduled to lapse in three equal installments on May 1, 2017, 2018 and 2019. 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 common units representing limited partner interests (the "Common Units") of the Issuer. The Common Units indirectly held by the reporting person or the vehicle are the number of Common Units that he or the vehicle has a right to receive as a limited partner in AOH. /s/ Michael D. Weiner 2016-01-22