LIBERTY MUTUAL HOLDING CO → Ares Private Markets Fund

The disclosure in Item 4 to the Schedule is hereby supplemented by adding the following at the end thereof: On March 3, 2025, the Issuer announced the commencement of a tender offer (the "Tender Offer") to purchase an amount up to approximately 5.00% of the net assets of the Issuer from shareholders of the Fund at their net asset value calculated as of the valuation date of March 31, 2025. In connection with the Tender Offer, the Reporting Persons tendered an aggregate of 694,350 Common Shares held by the Reporting Persons (the "Tendered Shares") at a price per Common Share to be determined by the Issuer in accordance with the Schedule TO filed by the Issuer on March 3, 2025. The Tender Offer closed on March 31, 2025.