Ares Dynamic Credit Allocation Fund, Inc.

Ares Dynamic Credit Allocation Fund, Inc. is a closed-ended fixed income fund. The fund, launched by Ares Management LLC and managed by Ares Capital Management II LLC, primarily invests in U.S. securities and companies. Its portfolio mainly consists of debt instruments, including senior loans primarily made to companies with debt rated below investment grade, and corporate bonds that are primarily high-yield issues also rated below investment grade. The fund also invests in equity securities of Collateralized Loan Obligations (CLOs) and debt securities issued by CLOs, as well as other fixed-income instruments. Its investment strategy considers the overall macroeconomic environment, financial markets, and company-specific research and analysis. Ares Dynamic Credit Allocation Fund, Inc. was formed on November 27, 2012, and is domiciled in the United States.