Tender Offer - Ares Private Markets Fund
Form Type: SCHEDULE 13D/A
Filing Date: 2025-04-01
Corporate Action: Tender-offer
Type: Update
Accession Number: 000095017025048563
Filing Summary: Amendment No. 3 to Schedule 13D is filed by Liberty Mutual Holding Company Inc., Liberty Mutual Retirement Plan Master Trust, and Liberty Mutual Investment Holdings LLC regarding Ares Private Markets Fund. The amendment updates the prior Schedule 13D filed on April 1, 2022, and its subsequent amendments due to material changes. On March 3, 2025, Ares Private Markets Fund announced a tender offer to purchase up to approximately 5.00% of its net assets from shareholders at NAV as of March 31, 2025. Reporting Persons tendered 694,350 Common Shares during this offer, which closed on March 31, 2025. As of that date, the Reporting Persons no longer beneficially own over five percent of the Issuer's Common Shares. The document includes detailed ownership percentages and control structures among the Reporting Persons.
Additional details:
Class Of Shares: Class A Common Shares
Class Of Shares: Class D Common Shares
Class Of Shares: Class I Common Shares
Tender Offer Date: 2025-03-03
Tendered Shares: 694350
Tender Offer Close Date: 2025-03-31
Total Common Shares Outstanding: 69332131
Common Shares Owned By Lmih: 2053976
Common Shares Owned By Lmrpmt: 528433
Common Shares Deemed Owned By Lmhc: 2582409
Form Type: SC TO-I
Filing Date: 2025-03-03
Corporate Action: Tender-offer
Type: New
Accession Number: 000110465925019771
Filing Summary: Ares Private Markets Fund is initiating a tender offer to purchase shares of beneficial interest in the Fund from shareholders for an amount not exceeding approximately 5.00% of the Fund's net assets, equating to about $119,129,930.51 based on values from January 31, 2025. The deadline for shareholders to tender their shares is March 28, 2025, by 11:59 p.m. Eastern Time. The net asset value for each class of share (Class A, Class D, and Class I) fluctuates, with values reported as $33.79, $34.07, and $34.31 respectively as of January 31, 2025. Shareholders may tender all or a portion of their shares and could incur a 2.00% early repurchase fee if tendered before the one-year anniversary of their purchase. Payments for the repurchased shares will occur within 65 days post deadline and will be funded from cash on hand, portfolio sales, or borrowings. The Offer is granted to all shareholders without any minimum tender condition. Shareholders maintain the right to withdraw their tender before the expiration date, and if the Fund has not accepted a tender after 40 business days, they retain the option to withdraw the request. Should more than 5.00% of shares be tendered, the Fund may accept additional shares or extend the offer accordingly. The Offer is made under strict compliance with U.S. securities regulations, ensuring all terms are disclosed clearly to offer participants.
Additional details:
Title Of Class: Class A, Class D, and Class I Shares
Cusip Numbers: 04020B202; 04020B301; 04020B103
Net Asset Value: 2382598610.10
Shares Outstanding: 70026481.459
Percentage Of Assets: 5.00%
Early Repurchase Fee: 2.00%
Form Type: SCHEDULE 13D/A
Filing Date: 2025-01-03
Corporate Action: Tender-offer
Type: Update
Accession Number: 000095017025000852
Filing Summary: Amendment No. 2 to Schedule 13D is filed by Liberty Mutual Holding Company Inc., Liberty Mutual Retirement Plan Master Trust, and Liberty Mutual Investment Holdings LLC regarding their ownership of Class A, Class D, and Class I Common Shares of Ares Private Markets Fund. The amendment reflects changes since the last filing, particularly highlighting a Tender Offer initiated by Ares Private Markets Fund on December 3, 2024, to purchase up to 5% of its net assets from shareholders at the net asset value as of December 31, 2024. The Reporting Persons have tendered a total of 580,540 Common Shares. The Tender Offer closed on December 31, 2024, with details on shares owned and levels of control by Liberty Mutual entities included. Ownership percentages are recalculated post-tender, with specific shares attributed to Liberty Mutual and its affiliates.
Additional details:
Reporting Persons: Liberty Mutual Holding Company Inc., Liberty Mutual Retirement Plan Master Trust, Liberty Mutual Investment Holdings LLC
Total Tendered Shares: 580,540
Tender Offer Date: 2024-12-03
Tender Offer Close Date: 2024-12-31
Common Shares Outstanding: 58,460,662.5
Common Shares Owned By LMIH: 2,606,242
Common Shares Owned By LMRPMT: 670,517
Beneficial Ownership By LMHC: 3,276,759
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