FORM 3
        
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Voya Financial, Inc. 2. Date of Event Requiring Statement (MM/DD/YYYY)
7/15/2021 

3. Issuer Name and Ticker or Trading Symbol Ares Dynamic Credit Allocation Fund, Inc. [ARDC]
(Last)       (First)       (Middle)
230 PARK AVENUE
4. Relationship of Reporting Person(s) to Issuer (Check all applicable)_____ Director                          ___X___ 10% Owner
_____ Officer (give title below)        _____ Other (specify below)
(Street)
NEW YORK, NY 10169      
(City)             (State)             (Zip)
5. If Amendment, Date Original Filed(MM/DD/YYYY)
 

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 Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
5-year MRPS with Final Redemption July 15, 2026  120000  I (1) By Subsidiary 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(MM/DD/YYYY)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares

Explanation of Responses:
(1)  The Securities reported herein are directly beneficially owned by Voya Retirement Insurance and Annuity Company, ReliaStar Life Insurance Company and ReliaStar Life Insurance Company of New York, each a direct or indirect subsidiary of Voya Financial, Inc. and Voya Holdings, Inc.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Voya Financial, Inc.
230 PARK AVENUE
NEW YORK, NY 10169

X

Voya Holdings, Inc.
ONE ORANGE WAY
WINDSOR, CT 06095

X

VOYA RETIREMENT INSURANCE & ANNUITY Co
ONE ORANGE WAY
WINDSOR, CT 06095

X


Signatures
/s/ Rachel Reid, SVP and Corporate Secretary, Voya Financial, Inc. 7/23/2021
**Signature of Reporting Person Date
/s/ Rachel Reid, SVP and Assistant Secretary, Voya Holdings Inc. 7/23/2021
**Signature of Reporting Person Date
/s/ Rachel Reid, SVP and Assistant Secretary, Voya Retirement Insurance & Annuity Co. 7/23/2021
**Signature of Reporting Person Date
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