# EDGAR Filing Document

**Accession Number:** 0002031750
**File Stem:** 0001628280-25-040911
**Filing Date:** 2025-8
**Character Count:** 9929
**Document Hash:** 57cbc74ab2619aa58a3eaec7e23ae620
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-040911.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0001628280-25-040911

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20250820

**ITEM INFORMATION**: Unregistered Sales of Equity Securities

**ITEM INFORMATION**: Other Events

**FILED AS OF DATE**: 20250820

**DATE AS OF CHANGE**: 20250820

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ares Core Infrastructure Fund
- **CENTRAL INDEX KEY:** 0002031750

**ORGANIZATION NAME:**
- **EIN:** 996541890
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 814-01811
- **FILM NUMBER:** 251237373

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ARES MANAGEMENT LLC
- **STREET 2:** 2000 AVENUE OF THE STARS, 12TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90067
- **BUSINESS PHONE:** (310) 201-4100

**MAIL ADDRESS:**
- **STREET 1:** C/O ARES MANAGEMENT LLC
- **STREET 2:** 2000 AVENUE OF THE STARS, 12TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90067

?xml version='1.0' encoding='ASCII'? aci-20250820

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

______________________________________________________

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the** 

**Securities Exchange Act of 1934**

Date of report (Date of earliest event reported): **August 20, 2025**

**ARES CORE INFRASTRUCTURE FUND** 

(Exact Name of Registrant as Specified in Charter)

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| | | |
|:---|:---|:---|
| **Delaware** | **000-56695** | **99-6541890** |
| (State or Other Jurisdiction<br>of Incorporation) | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |

---

**245 Park Avenue, 44th Floor, New York, NY 10167** 

(Address of principal executive office) (Zip Code)

**(212) 750-7300** 

(Registrant's telephone number, including area code)

**N/A**

(Former name, former address and former fiscal year, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (*see* General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol(s) Name of each exchange on which registered <br> <u>N/A</u> <u>N/A</u> <u>N/A</u>

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

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**<u>Item 3.02 Unregistered Sale of Equity Securities</u>**

On August 1, 2025, Ares Core Infrastructure Fund (the "Fund") sold Class I common shares of beneficial interest (the "Class I Common Shares") for an aggregate purchase price of $110.0 million. The number of Class I Common Shares to be issued was finalized on August 20, 2025. The purchase price per Class I Common Share equaled the Fund's net asset value ("NAV") per Class I Common Share as of July 31, 2025. The issuance of the Class I Common Shares is exempt from the registration requirements of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof, by Rule 506(b) of Regulation D promulgated thereunder and/or Regulation S promulgated thereunder. The following table details the Class I Common Shares sold:

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| | | |
|:---|:---|:---|
| **Date of Unregistered Sales** | **Amount of Class I Common Shares** | **Total Consideration (in millions)** |
| August 1, 2025 (number of Class I Common Shares finalized on August 20, 2025) | 4424508 | $110.0 |

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**<u>Item 8.01 Other Events.</u>**

***Net Asset Value***

The NAV per Class I Common Share of the Fund as of July 31, 2025, as determined in accordance with the valuation policies and procedures employed by Ares Capital Management II LLC, the Fund's investment adviser, was as follows:

---

| | |
|:---|:---|
| | **NAV as of July 31, 2025** |
| Class I Common Share | $24.8587 |

---

As of July 31, 2025, the Fund's aggregate NAV was approximately $1,176.6 million and the fair value of the Fund's portfolio investments was approximately $1,342.6 million.

***July, August, September, October, November and December 2025 Distributions***

As previously disclosed on May 14, 2025, the Fund announced the declaration of regular monthly gross distributions for July, August and September 2025, and on August 8, 2025, the Fund announced the declaration of regular monthly distributions for October, November and December in each case for its Class I Common Shares, Class D common shares of beneficial interest (the "Class D Common Shares"), Class N common shares of beneficial interest (the "Class N Common Shares") and Class S common shares of beneficial interest (the "Class S Common Shares" and, together with the Class I Common Shares, Class D Common Shares and Class N Common Shares, "Common Shares") in the amounts per share set forth below:

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Gross Distribution Per Share** | **Gross Distribution Per Share** | **Gross Distribution Per Share** | **Gross Distribution Per Share** |
|<br>**Record Date** |<br>**Payment Date(1)** | **Class I** | **Class D** | **Class N** | **Class S** |
| July 31, 2025 | August 22, 2025 | $0.2110 | $0.2110 | $0.2110 | $0.2110 |
| August 29, 2025 | September 24, 2025 | $0.2110 | $0.2110 | $0.2110 | $0.2110 |
| September 30, 2025 | October 23, 2025 | $0.2110 | $0.2110 | $0.2110 | $0.2110 |
| October 31, 2025 | November 21, 2025 | $0.2083 | $0.2083 | $0.2083 | $0.2083 |
| November 28, 2025 | December 24, 2025 | $0.2083 | $0.2083 | $0.2083 | $0.2083 |
| December 31, 2025 | January 23, 2026 | $0.2083 | $0.2083 | $0.2083 | $0.2083 |

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(1) The distributions on the Fund's Common Shares will be paid on or about the payment dates set above.

These distributions will be paid in cash or reinvested in the Fund's Common Shares for shareholders participating in the Fund's distribution reinvestment plan. The net distributions to be received by shareholders of the Class D Common Shares, Class N Common Shares and Class S Common Shares will be equal to the gross distribution in the table above, less specific shareholder servicing and/or distribution fees applicable to such class as of their respective record dates. Class I Common Shares have no shareholder servicing and/or distribution fees. As of the date hereof, there are no Class D Common Shares, Class N Common Shares or Class S Common Shares outstanding.

***Portfolio and Business Commentary***

As of July 31, 2025, the Fund had three equity investments with total fair value of approximately $1,185.1 million. As of July 31, 2025, based on fair value, the Fund's portfolio investments consisted of the following:

------

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| | |
|:---|:---|
| | **As of July 31, 2025** |
| **Portfolio Investments** | |
| Common equity<sup>(1)</sup> | 62.49% |
| Other equity<sup>(2)</sup> | 25.78% |
| First lien senior secured loans | 11.73% |
| &nbsp;&nbsp;**Total** | 100.00% |

---

(1)Represents investments in two portfolio companies, together operating an underlying approximately 1.4 gigawatt portfolio that consists of 9 projects in the Pennsylvania-New Jersey-Maryland Interconnection (PJM), Midcontinent Independent System Operator (MISO), Electric Reliability Council of Texas (ERCOT), and Southwest Power Pool (SPP) regions, of which 89% is solar and 11% is co-located battery storage capacity.

(2)Represents investment in one portfolio company operating an underlying 2.6 gigawatt portfolio that consists of 15 projects in operation across Electric Reliability Council of Texas, Midcontinent Independent System Operator, PJM and Southwest Power Pool, of which 53% is solar, 25% is wind and 22% is co-located battery storage capacity.

***Status of the Offering***

The Fund is currently offering on a continuous basis (the "Offering") Common Shares in transactions exempt from the registration provisions of the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof, by Rule 506(b) of Regulation D promulgated thereunder and/or Regulation S promulgated thereunder. As of the date hereof, the Fund has issued a total of 51,449,209 Class I Common Shares for aggregate consideration of $1,284.8 million received in the Offering. As of the date hereof, the Fund has not sold any Class D Common Shares, Class N Common Shares or Class S Common Shares. The Class I Common Shares issued amount does not include Common Shares issued through the Fund's distribution reinvestment plan. The Fund intends to continue selling Common Shares in the Offering on a monthly basis.

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | |
|:---|:---|:---|
| | | ARES CORE INFRASTRUCTURE FUND |
| Dated: August 20, 2025 |  |  |
|  | By: | /s/ Christina Oh |
|  | Name: | Christina Oh |
|  | Title: | Chief Financial Officer and Treasurer |

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