CION Ares Diversified Credit Fund Announces $5 Billion Total Assets Under Management Milestone

CION Ares Management LLC ("CAM"), a joint venture between affiliates of CION Investments ("CION"), a leading manager and distributor of alternative investment solutions for individual investors, and Ares Management Corporation ("Ares"), a leading global alternative investment manager, announced that the CION Ares Diversified Credit Fund ("CADC" or the "Fund") recently surpassed $5 billion in total assets under management.

CION co-CEO Mark Gatto noted, "We partnered with Ares on a diversified alternative credit fund in an interval fund structure back in 2017 because we believed that individual investors should have direct access to the same alternatives opportunities that institutions have been accessing for decades. Our consistent growth in fundraising has scaled rapidly as investors increasingly incorporate alternatives into their portfolio allocations, and we are delighted to reach the $5 billion milestone in assets under management. CADC offers the opportunity for several benefits including income, stability and lower portfolio volatility through diversification away from public markets, and this combination has proved powerful in helping investors reach their goals."

CADC invests in a diversified pool of illiquid and liquid credit investments, seeking superior risk-adjusted returns across various market cycles in a continuously offered interval fund structure. The Fund employs a dynamic asset allocation framework, leveraging the extensive operational resources, infrastructure and origination network of Ares. The Fund is currently distributed through a broad universe of RIAs, independent broker-dealers, and wirehouses.

Michael A. Reisner, CION co-CEO, added, "The benefits of adding alternatives to individual portfolios have become more apparent as we've seen a prolonged period of uncertainty around interest rates. The economic outlook remains unclear, and the Fund's track record of adding value through all phases of the business cycle is even more compelling. We've always been committed to providing financial advisors with the products, education and service they need to help them add alternatives to client portfolios, and we remain thankful for the strong support we've received from the advisor community."

ABOUT CION INVESTMENTS

CION Investments is a leading open-source provider of alternative investments designed to redefine the way individual investors can build their portfolios and meet their long-term investment goals. CION Investments currently sponsors, among other products, CION Investment Corporation (NYSE:CION), a leading publicly listed business development company that currently manages approximately $2.0 billion in assets, and also sponsors, through CION Ares Management, the CION Ares Diversified Credit Fund, a globally diversified interval fund that currently manages approximately $5.0 billion in assets.

For more information, please visit www.cioninvestments.com.

ABOUT ARES MANAGEMENT CORPORATION

Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2024, Ares Management Corporation's global platform had approximately $428 billion of assets under management with approximately 2,900 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

FORWARD-LOOKING STATEMENTS

The information in this press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are identified by words such as "may," "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," "would," "could," "should," and variations of these words and similar expressions, including references to assumptions, forecasts of future results, shareholder diversification, institutional research coverage and availability and access to capital. These statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. CADC undertakes no obligation to update any forward-looking statements contained herein to conform the statements to actual results or changes in its expectations.

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