Ares Dynamic Credit Allocation Fund Inc

Ares Dynamic Credit Allocation Fund, Inc. (the Fund) is a closed-end, diversified, management investment company. The Fund's investment objective is to seek an attractive risk adjusted level of total return, primarily through current income and, secondarily, through capital appreciation. The Fund seeks to achieve its investment objective by investing primarily in a broad, dynamically managed portfolio of senior secured loans (Senior Loans) made primarily to companies whose debt is rated below investment grade; corporate bonds (Corporate Bonds) that are primarily high yield issues rated below investment grade; other fixed-income instruments of a similar nature that may be represented by derivatives, and securities issued by entities commonly referred to as collateralized loan obligations (CLOs) and other asset-backed securities. The Fund's investments in CLOs may include investments in subordinated tranches of CLO securities. Its investment adviser is Ares Capital Management II LLC.