Experienced Leadership. One-Stop Financing. Dependable Partner.

Ares Capital Corporation (“Ares Capital”) is a closed-end, non-diversified specialty finance company that is regulated as a Business Development Company, or a BDC, under the Investment Company Act of 1940. The company is publicly traded on the NASDAQ Global Select Market under ticker symbol “ARCC.” Ares Capital became a public company in October 2004 through an initial public offering, which raised approximately $160 million in net proceeds. Ares Capital is led by partners and managing directors who possess an average of more than 15 years of relevant middle market lending and leveraged finance experience, and investment committee members who possess an average of more than 20 years of relevant experience. Ares Capital is one of the largest BDCs with approximately $8 billion* of total committed capital under management as of December 31, 2009.

Ares Capital provides one-stop solutions to meet the distinct and underserved financing needs of private middle market companies across diverse industries. Our flexibility, structuring expertise and self-origination capabilities enable us to invest across the capital structure and to meet the full spectrum of our clients’ financing needs. As a patient, long-term investor with permanent capital, we have developed a reputation for the flexibility of our approach, a willingness to hold large positions, and the ability to offer sponsors and management teams increased certainty of execution.

Ares Capital also co-manages with GE Commercial Finance Investment Advisory Services LLC an unconsolidated senior debt fund, the Senior Secured Loan Fund LLC (the “SL Fund”). The SL Fund primarily invests in "unitranche" loans (loans that combine both senior and subordinated debt, generally in a first lien position) of middle-market companies. The SL Fund was initially formed in December 2007 with approximately $3.6 billion of committed capital. We acquired our interests in the SL Fund from Allied Capital in October 2009.

In addition, our portfolio company, Ivy Hill Asset Management, L.P. (“Ivy Hill Management”), serves as manager or sub-manager to seven funds. As of December 31, 2009, Ivy Hill Management had total committed capital under management of over $2.3 billion. Ares Capital and Ivy Hill Management collectively provide integrated private debt and non-control equity financing solutions to the middle market.

Ivy Hill Management’s funds under management include Ivy Hill Middle Market Credit Fund, Ltd. (“Ivy Hill I”), an unconsolidated middle market credit fund, which primarily invests in first and second lien bank debt of middle-market companies. Ivy Hill I was initially funded in November 2007 with $404.0 million of capital including a $56.0 million investment by us. Ivy Hill Management also manages Ivy Hill Middle Market Credit Fund II, Ltd. (“Ivy Hill II”), which primarily invests in second lien and subordinated bank debt of middle-market companies. Ivy Hill II was initially funded with $250.0 million of subordinated notes, and may grow over time with leverage.

In December 2009, Ares Capital made an incremental investment in Ivy Hill Management to facilitate its acquisition of Allied Capital Corporation's management rights in respect of, and interests in, the Allied Capital Senior Debt Fund, L.P. (now referred to as "Ivy Hill SDF"), for approximately $33 million in cash. Ivy Hill SDF currently has approximately $274 million of committed capital invested primarily in first lien loans and to a lesser extent, second lien loans of middle-market companies.

Ivy Hill Management also serves as the sub-adviser/sub-manager to four other funds: the CoLTS Funds and FirstLight.

Ares Capital is managed by Ares Capital Management LLC, a subsidiary of Ares Management LLC, a global alternative asset manager and SEC registered investment adviser with offices in Los Angeles, New York, London, Chicago, Atlanta, Paris, Stockholm and Frankfurt. As of December 31, 2009, Ares Management LLC had approximately $33 billion** of committed capital. Ares Capital leverages this investment platform, benefiting from its investment professionals' relationships and significant capital markets, trading and research expertise.