Form D · Other Investment Fund

ARES BADGER FUND LP

Los Angeles, CA · CIK 0001975649

Offering snapshot reported May 1, 2023 · SEC filing

Reported sold: $200M
Investors reported: 1
Minimum accepted: $0
First sale: Apr 24, 2023

What changed?

Latest filing versus its linked predecessor, where available.

No comparable changes in the displayed metrics.

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
May 1, 2023	Initial	$200,000,000	No comparison	1	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: No
Business combination: No

Sales commissions: $0 (estimated)
Finders' fees: $0 (estimated)
Form D file number: 021-480443

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
ARES MANAGEMENT CAPITAL MARKETS LLC	166219

Source: Form D, filed May 1, 2023. Minimum accepted may differ from a standard advertised minimum.

Fund connections

Each card uses that adviser's latest imported filing. Filing dates can differ; these disclosures do not confirm a current relationship.

Matched by reported Form D file number

ARES BADGER FUND LP

Investment adviser: ARES MANAGEMENT LLC

Gross asset value: $420M
Beneficial owners: 2
ADV minimum commitment: $0

Reported in Form ADV on Aug 26, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator SEI OAKS, Pennsylvania, United States Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →

Fund administrator SS&C TECHNOLOGIES, INC. OAKS, Pennsylvania, United States Investor statements: No (provided to no investors) Related to adviser: No Other funds reporting this name →

Auditor ERNST & YOUNG LOS ANGELES, California, United States Other funds reporting this name →

Custodian THE BANK OF NEW YOK MELLON TUST COMPANY, N.A. HOUSTON, Texas, United States Related to adviser: No Other funds reporting this name →

Marketer ARES MANAGEMENT CAPITAL MARKETS LLC CULVER CITY, California, United States Related to adviser: Yes Other funds reporting this name →

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: Yes

ERNST & YOUNG
PCAOB 42

ARES MANAGEMENT CAPITAL MARKETS LLC
CRD 166219 · SEC 8-69194

Fund asset history · 3 annual observations

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Fiscal year	Gross assets	Beneficial owners	ADV filed
2023	$247,236,950	2	Mar 28, 2024
2024	$254,711,124	2	Mar 31, 2025
2025	$419,888,330	2	Mar 27, 2026

Filing source

Form ADV 2127751 · Aug 26, 2026 · Schedule D 7.B.(1), fund 805-7349743887

Reported by ARES MANAGEMENT LLC (CRD 130074).

Other-Than Anual Amendment For Registered Adviser.

Official IAPD profile (latest public filing). Historical values on this page come from the SEC/IAPD filing archive; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
N/A Ares Alt Credit Co Invest Gp Llc	Director
N/A Ares Investments Holdings Llc	Director
Michael J. Arougheti	Executive
Keith Ashton	Executive
Kipp Deveer	Executive
Mitchell Goldstein	Executive
Joel Holsinger	Executive
Matthew Jill	Executive
Jeffrey W. Kramer	Executive
Michael L. Smith	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

C/O Ares Management Llc 2000 Avenue Of The Stars, 12 Th Floor
Los Angeles, CA, 90067
Phone: (310) 201-4100