# Ares Capital Management II LLC

> Ares Capital Management II LLC is an SEC-registered investment advisory firm in Los Angeles, CA, registered since 2011, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 26, 2026.

- CRD: 157292
- Filed as: ARES CAPITAL MANAGEMENT II LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Los Angeles, CA
- Filing period: October 2026
- Form ADV filing dated: August 26, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/157292
- AdvisorCensus page: https://advisorcensus.com/firm/ares-capital-management-ii-llc-los-angeles-ca-157292

## Quick answers

**How is Ares Capital Management II LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Ares Capital Management II LLC reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**What does Ares Capital Management II LLC's brochure say about its fees?**
Its Form ADV Part 2A brochure dated March 27, 2026 states: Asset-based fee: 0.3% to 1.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Ares Capital Management II LLC located?**
Ares Capital Management II LLC's principal office is in Los Angeles, CA, according to its Form ADV; the September 2026 filing also lists 21 other offices (Schedule D, Section 1.F).

**Is Ares Capital Management II LLC registered with the SEC or a state?**
Ares Capital Management II LLC is an SEC-registered investment advisory firm, registered since 2011. Status as filed: Approved. CRD 157292.

**How much does Ares Capital Management II LLC manage?**
Ares Capital Management II LLC reports $19,637,993,752 in regulatory assets under management in its Form ADV filing dated August 26, 2026 (98% discretionary).

**How have Ares Capital Management II LLC's assets and staff changed since 2021?**
In the Form ADV data for Ares Capital Management II LLC: Regulatory assets under management: $1,189,794,648 in the October 2021 data and $19,637,993,752 in the October 2026 data, up 1551%. Total employees: 444 in October 2021 and 924 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Ares Capital Management II LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (17); investment companies (10); business development companies (1).

**Which custodians does Ares Capital Management II LLC use?**
Ares Capital Management II LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Caceis as a custodian holding 10% or more of its separately managed account assets.

**Does Ares Capital Management II LLC report any disciplinary disclosures?**
Reports 3 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation), 11.C(4) (SEC or CFTC order), and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/157292

**Does Ares Capital Management II LLC state an account minimum?**
Its Form ADV Part 2A brochure dated March 27, 2026 says: "The minimum investment is stated in the applicable Governing Documents; however, ACM II’s Clients generally do not have investment minimums."

**What changed in Ares Capital Management II LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $8,955,406,884 to $19,637,993,752 (+119%). Employees performing advisory functions went from 653 to 597. Changed its office addresses in Amsterdam. Changed its office addresses in Hong Kong. Changed its office addresses in Luxembourg. Changed its office addresses in Stockholm. Added an office in Miami Beach, FL. Added an office in Milan. Added an office in Naples, FL. Added an office in Waterloo, IL. No longer lists an office in Charlotte, NC. No longer lists an office in El Segundo, CA. No longer lists an office in Los Angeles, CA. No longer lists an office in Tarrytown, NY.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 27, 2026)

- Asset-based fee: 0.3% to 1.5% a year (a range, as the brochure states it)

> Advisory Fees paid by public investment fund Clients are asset-based fees ranging from 0.3% to 1.5%.

- Account minimum: None

> The minimum investment is stated in the applicable Governing Documents; however, ACM II’s Clients generally do not have investment minimums.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- Caceis

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $19,637,993,752
- Discretionary: $19,191,201,816
- Non-discretionary: $446,791,936

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Investment companies | 10 | $8,532,912,995 |
| Business development companies | 1 | $3,455,029,000 |
| Pooled investment vehicles (other than investment companies and business development companies) | 17 | $7,509,464,453 |
| Other | Fewer than 5 | $140,587,304 |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2011 (15 years)
- Employees: 924 total, 597 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, CT, DE, FL, GA, IL, MA, MD, MO, NC, NJ, NY, PA, TX, VA
- Disclosures (Item 11): Reports 3 disclosure items on Form ADV Item 11.

### Item 11 questions answered yes
- 11.C(2): Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?
- 11.C(4): Has the SEC or the CFTC ever entered an order against the firm or an advisory affiliate in connection with investment-related activity?
- 11.C(5): Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/157292

### Other offices (Schedule D, Section 1.F), as of the September 2026 filing
- Amsterdam
- Arlington, VA
- Atlanta, GA
- Boston, MA
- Chicago, IL
- Dallas, TX
- Denver, CO
- Frankfurt
- Hong Kong
- London
- Luxembourg
- Madrid
- Miami Beach, FL
- Milan
- Mumbai
- Naples, FL
- New York, NY
- Paris
- Stockholm
- Waterloo, IL
- West Hartford, CT

### Websites listed on Form ADV (Item 1.I)
- aresfoundation.org
- aresfoundationreport.aresmgmt.com
- aresmgmt.com
- arespublicfunds.com
- areswms.com
- Instagram @ares_mgmt
- LinkedIn @ares-management
- LinkedIn @michael-arougheti
- X @Ares_Management
- YouTube @ares_management

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,189,794,648 | 444 | March 31, 2021 |
| October 2022 | $3,310,734,277 | 539 | March 31, 2022 |
| October 2023 | $3,603,016,195 | 624 | March 31, 2023 |
| October 2024 | $5,259,680,732 | 804 | August 27, 2024 |
| October 2025 | $8,955,406,884 | 939 | May 30, 2025 |
| October 2026 | $19,637,993,752 | 924 | August 26, 2026 |

Regulatory assets under management: $1,189,794,648 in the October 2021 data and $19,637,993,752 in the October 2026 data, up 1551%.
Total employees: 444 in October 2021 and 924 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $8,955,406,884 to $19,637,993,752 (+119%).
- Employees performing advisory functions went from 653 to 597.
- Changed its office addresses in Amsterdam.
- Changed its office addresses in Hong Kong.
- Changed its office addresses in Luxembourg.
- Changed its office addresses in Stockholm.
- Added an office in Miami Beach, FL.
- Added an office in Milan.
- Added an office in Naples, FL.
- Added an office in Waterloo, IL.
- No longer lists an office in Charlotte, NC.
- No longer lists an office in El Segundo, CA.
- No longer lists an office in Los Angeles, CA.
- No longer lists an office in Tarrytown, NY.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Ares Capital Management II LLC (CRD 157292): Form ADV filing data as of October 2026.