NEW YORK, October 3, 2022 – Proskauer, a leading international law firm, announced today that it advised Ares Management Corporation ("Ares") (NYSE: ARES), a leading global alternative investment manager, in the closing of its latest fund, Ares Sports, Media and Entertainment Finance ("SME" or the "Fund").

The total available capital for SME is expected to be $3.7 billion, including total equity commitments of nearly $2.2 billion and anticipated leverage and related transaction vehicles. SME is Ares' first fund dedicated to the sports, media and entertainment industries. The Fund was oversubscribed relative to its initial target of $1.5 billion.

The Proskauer team included partners Chip Parsons and Nicholas Noon and associates John Beck, Alicia Abboud, Michael LaMonte and Andrew Mandelbaum (Private Funds); partners David Miller and Janicelynn Asamoto Park and associate Sean Webb (Tax).

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