Sec Form 3 Filing - LIBERTY MUTUAL HOLDING CO @ Ares Private Markets Fund - 2022-04-01

FORM 3 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person LIBERTY MUTUAL HOLDING CO 2. Issuer Name and Ticker or Trading Symbol Ares Private Markets Fund [ AMSIX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O LIBERTY MUTUAL INSURANCE CO., 175 BERKELEY STREET 3. Date of Earliest Transaction (MM/DD/YY) 04/01/2022 (Street) BOSTON, MA02116 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) _____ Form filed by One Reporting Person __ X __ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class I Shares 894,623.72 I( 1 ) By Trust Class I Shares 3,477,323.57 I( 2 ) By LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other LIBERTY MUTUAL HOLDING CO C/O LIBERTY MUTUAL INSURANCE CO. 175 BERKELEY STREET BOSTON, MA02116 X Liberty Mutual Retirement Plan Master Trust C/O LIBERTY MUTUAL INSURANCE CO. 175 BERKELEY STREET BOSTON, MA02116 X LIBERTY MUTUAL INVESTMENT HOLDINGS LLC C/O LIBERTY MUTUAL INSURANCE CO. 175 BERKELEY STREET BOSTON, MA02116 X Signatures LIBERTY MUTUAL HOLDING COMPANY INC.: By: /s/ Vlad Barbalat, Executive Vice President & Chief Investment Officer 04/11/2022 Signature of Reporting Person Date LIBERTY MUTUAL RETIREMENT PLAN MASTER TRUST: By: Liberty Mutual Insurance Company, its Adviser; By: Liberty Mutual Group Asset Management Inc., its Sub-Adviser; By: /s/ Demetri Fifis, Vice President 04/11/2022 Signature of Reporting Person Date LIBERTY MUTUAL INVESTMENT HOLDINGS LLC: By: /s/ Demetri Fifis, Vice President 04/11/2022 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The securities are owned directly by Liberty Mutual Retirement Plan Master Trust ("LMRPMT") and may be deemed to be beneficially owned by Liberty Mutual Holding Company Inc. ("LMHC") because LMHC indirectly controls the investment and voting decisions of the Common Shares directly held by LMRPMT as a result of a sub-advisory arrangement between Liberty Mutual Group Asset Management Inc. and the Liberty Mutual Retirement Committee, the named fiduciary of LMRPMT. Each of the reporting persons (other than LMRPMT), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities, except to the extent of its pecuniary interest therein, and this Form shall not be construed as an admission that any such reporting person is the beneficial owner of any such securities. ( 2 )The securities are owned directly by Liberty Mutual Investment Holdings LLC ("LMIH") and may be deemed to be beneficially owned by LMHC because LMHC indirectly controls all of the outstanding interests in LMIH. Each of the reporting persons (other than LMIH), and each of their affiliated entities and the officers, partners, members and managers thereof, disclaims beneficial ownership of these securities, except to the extent of its pecuniary interest therein, and this Form shall not be construed as an admission that any such reporting person is the beneficial owner of any such securities.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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