FORM 4

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

OMB APPROVAL
OMB Number:3235-0287
Expires:02/28/2011
Estimated average burden
hours per response0.5

1. Name and Address of Reporting Person *
ARES MANAGEMENT LLC
2. Issuer Name and Ticker or Trading Symbol
Savers Value Village, Inc. [SVV]
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 ARES MANAGEMENT LLC, 1800 AVENUE OF THE STARS, SUITE 1400
3. Date of Earliest Transaction (Month/Day/Year)
05/16/2025
(Street)

LOS ANGELES, CA 90067
(City)
(State)
(Zip)
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing
(Check applicable line)

______ Form Filed by One Reporting Person
__X__ Form Filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)

2. Transaction Date (Month/Day/Year)

2A. Deemed Execution Date, if any (Month/Day/Year)

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

Common Stock

05/16/2025 S 14,960,000D $8.8569119,699,188I

See footnotes (1) (2) (3)



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 (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

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 (Month/Day/Year)

7. Title and Amount of Securities Underlying Derivative Security (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 / AddressRelationships
Director10% OwnerOfficerOther

ARES MANAGEMENT LLC
C/O ARES MANAGEMENT LLC
1800 AVENUE OF THE STARS, SUITE 1400
LOS ANGELES, CA 90067

  X  

Ares Partners Holdco LLC
C/O ARES MANAGEMENT LLC
1800 AVENUE OF THE STARS, SUITE 1400
LOS ANGELES, CA 90067

  X  

Ares Voting LLC
C/O ARES MANAGEMENT LLC
1800 AVENUE OF THE STARS, SUITE 1400
LOS ANGELES, CA 90067

  X  

Ares Management GP LLC
C/O ARES MANAGEMENT LLC
1800 AVENUE OF THE STARS, SUITE 1400
LOS ANGELES, CA 90067

  X  

Ares Management Corp
C/O ARES MANAGEMENT LLC
1800 AVENUE OF THE STARS, SUITE 1400
LOS ANGELES, CA 90067

  X  

Ares Holdco LLC
C/O ARES MANAGEMENT LLC
1800 AVENUE OF THE STARS, SUITE 1400
LOS ANGELES, CA 90067

  X  

Ares Management Holdings L.P.
C/O ARES MANAGEMENT LLC
1800 AVENUE OF THE STARS, SUITE 1400
LOS ANGELES, CA 90067

  X  

Explanation of Responses:

Following the transactions reported herein, includes 67,274,668 shares held by Ares Corporate Opportunities Fund V, L.P. ("ACOF V"), 8,860,344 shares held by ASSF IV AIV B Holdings III, L.P. ("ASSF IV AIV Holdings"), 8,098,086 shares held by ASSF IV AIV B, L.P. ("ASSF IV AIV") and 33,234,385 shares held by ASOF Holdings I, L.P. ("ASOF Holdings I"). Also includes 2,231,705 shares (the "Managed Shares") held by an account managed by ASSF Operating Manager IV, L.P. with respect to which the Ares Entities (as defined below) may be deemed to have shared voting or dispositive power. The Ares Entities disclaim beneficial ownership of the Managed Shares for purposes of Section 16 and this report shall not be deemed an admission that any of the Ares Entities are the beneficial owner of the Managed Shares for purposes of Section 16 or for any other purpose.

Ares Partners Holdco LLC ("Ares Partners") is the sole member of each of Ares Voting LLC and Ares Management GP LLC, which are respectively the holders of the Class B and Class C common stock of Ares Management Corporation ("Ares Management"), which common stock allows them, collectively, to generally have the majority of the votes on any matter submitted to the stockholders of Ares Management if certain conditions are met. Ares Management is the sole member of Ares Holdco LLC, which is the general partner of Ares Management Holdings L.P., which is the sole member of Ares Management LLC, which is: (i) the sole member of ACOF Investment Management LLC, which is the manager of ACOF V; (ii) the general partner of ASSF Operating Manager IV, L.P., which is the manager of each of ASSF IV AIV Holdings and ASSF IV AIV; and (iii) the sole member of ASOF Investment Management LLC, which is the manager of ASOF Holdings I. We refer to all of the foregoing entities collectively as the Ares Entities

Each of the Ares Entities may be deemed to share beneficial ownership of the securities reported herein, but each disclaims any such beneficial ownership of securities not held of record by them. Ares Partners is managed by a board of managers, which is composed of Michael J Arougheti, R. Kipp deVeer, David B. Kaplan, Antony P. Ressler and Bennett Rosenthal (collectively, the "Board Members"). Mr. Ressler generally has veto authority over Board Members' decisions. Each of these individuals disclaims beneficial ownership of the securities that may be deemed to be beneficially owned by Ares Partners.

Remarks:

Due to the limitations of the electronic filing system, each of ACOF Investment Management LLC, Ares Corporate Opportunities Fund V, L.P., ASSF Operating Manager IV, L.P., ASSF IV AIV B Holdings III, L.P., ASSF IV AIV B, L.P., ASOF Investment Management LLC and ASOF Holdings I, L.P. are filing a separate Form 4.



Signatures

Ares Management LLC, By: /s/ Anton Feingold, Authorized Signatory

05/20/2025

Ares Partners Holdco LLC, By: /s/ Anton Feingold, Authorized Signatory

05/20/2025

Ares Voting LLC, By: Ares Partners Holdco LLC, its sole member, By: /s/ Anton Feingold, Authorized Signatory

05/20/2025

Ares Management GP LLC, By: /s/ Anton Feingold, Authorized Signatory

05/20/2025

Ares Management Corporation, By: /s/ Anton Feingold, Authorized Signatory

05/20/2025

Ares Holdco LLC, By: /s/ Anton Feingold, Authorized Signatory

05/20/2025

Ares Management Holdings L.P., By: Ares Holdco LLC, its general partner, By: /s/ Anton Feingold, Authorized Signatory

05/20/2025
** Signature of Reporting PersonDate
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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.