CION Investments ("CION"), a leading manager of alternative investment solutions for individual investors, today announced that the CION Ares Diversified Credit Fund ("CADC" or the "Fund") has raised $390 million during a record first quarter. This milestone brings the Fund's total managed assets to $3.1 billion.

CION co-CEO Michael A. Reisner noted, "We are thrilled with the growth we've seen in this Fund and its reception from our partners. This is a strong recognition of the Fund’s value proposition, the appetite investors have for credit alternatives beyond fixed income, and the investment team's rigorous approach to identifying valuable opportunities as the market shifts. The floating rate nature of the instruments held by the Fund has driven strong investor demand as rates continue to rise and the trajectory of increases remains uncertain."

CADC invests in 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 advisor’s extensive operational resources, infrastructure and origination network. The Fund is currently distributed through a broad universe of RIAs, independent broker-dealers, and wirehouses.

Michael continued, “Our scale, operational expertise, and alternatives experience is something we feel is a true differentiator. We’ve set out to provide the individual investors with access to the alternative credit spectrum in one fund, without high minimums or a multi-year lock-up, and we believe we’re accomplishing this goal. We are excited to continue working with our partners as they seek to help investors navigate what is expected to be a volatile market environment moving forward.”

ABOUT CION INVESTMENTS

CION Investments is a leading manager of alternative investment solutions designed to redefine the way individual investors can build their portfolios and help meet their long-term investment goals. CION Investments currently sponsors CION Investment Corporation (NYSE: CION), a leading publicly listed business development company that currently manages approximately $1.8 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 $3.1 billion in assets. CION Investments has also partnered with the Man Group to create unique, scalable, and accessible investment solutions, which began with Man Global Private Markets (Man GPM), Man Group’s private markets business.

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, private equity, real estate 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, 2022, Ares Management Corporation's global platform had approximately $325 billion of assets under management, with approximately 2,100 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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