Ares Management (ARES) 10-Q 12 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	8-May-15
Document and Entity Information
Entity Registrant Name	ARES MANAGEMENT LP
Entity Central Index Key	1176948
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		80,667,664
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1

Consolidated_Statements_of_Fin

Consolidated Statements of Financial Condition (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets
Goodwill	$144,080	$85,582
Total assets	21,618,156	21,632,675	22,035,501
Liabilities
Total liabilities	14,815,137	14,873,302
Commitments and contingencies
Controlling interest in Ares Management L.P.:
Partners' Capital (80,667,664 units, issued and outstanding at March 31, 2015 and December 31, 2014, respectively)	291,641	285,025
Accumulated other comprehensive income (loss)	-2,126	-1,386
Total controlling interest in Ares Management L.P	289,515	283,639
Total equity	5,863,925	5,697,935
Total liabilities, redeemable interest, non-controlling interests and equity	21,618,156	21,632,675
Predecessor
Controlling interest in Ares Management L.P.:
Total controlling interest in Ares Management L.P	289,515	283,639
Parent Company
Assets
Cash and cash equivalents	69,372	148,858
Restricted cash and cash equivalents		32,734
Investments, at fair value	198,630	174,052
Derivative assets, at fair value	8,217	7,623
Performance fees receivable	171,793	187,059
Due from affiliates	129,870	146,534
Other assets	55,690	58,716
Intangible assets, net	120,268	40,948
Goodwill	144,080	85,582
Liabilities
Accounts payable and accrued expenses	126,385	101,310
Accrued compensation	55,307	129,433
Derivative liabilities, at fair value	2,973	2,850
Due to affiliates	7,426	19,030
Performance fee compensation payable	420,187	380,268
Debt obligations	298,614	243,491
Equity compensation put option liability	20,000	20,000
Deferred tax liability, net	21,026	19,861
Controlling interest in Ares Management L.P.:
Total equity	5,863,925	5,697,935
Parent Company | Predecessor
Assets
Cash and cash equivalents			36,634	89,802
Consolidated Funds
Assets
Cash and cash equivalents	1,318,017	1,314,397
Investments, at fair value	18,990,943	19,123,950
Derivative assets, at fair value	3,696	3,126
Due from affiliates	9,338	11,342
Other assets	6,329	6,156
Loans held for investment, net	85,214	77,514
Dividends and interest receivable	71,761	81,331
Receivable for securities sold	234,938	132,753
Liabilities
Accounts payable and accrued expenses	54,064	68,589
Derivative liabilities, at fair value	59,483	42,332
Due to affiliates	2,332	2,441
Payable for securities purchased	475,380	618,902
Securities sold short, at fair value	3,763	3,763
Deferred tax liability, net	23,585	22,214
CLO loan obligations	12,154,677	12,049,170
Fund borrowings	683,564	771,283
Mezzanine debt	406,371	378,365
Redeemable interest	915,017	1,037,450
Non-controlling interest in Consolidated Funds:
Non-controlling interest in Consolidated Funds	5,036,639	4,988,729
Equity appropriated for Consolidated Funds	55,996	-37,926
Non-controlling interest	5,092,635	4,950,803
AOG
Liabilities
Redeemable interest	24,077	23,988
Non-controlling interest in Consolidated Funds:
Non-controlling interest	$481,775	$463,493

Consolidated_Statements_of_Fin1

Consolidated Statements of Financial Condition (Parenthetical)	Mar. 31, 2015	Dec. 31, 2014
Condensed Consolidated Statements of Financial Condition
Partners' Capital units issued (in units)	80,667,664	80,667,664
Partners' Capital units outstanding (in units)	80,667,664	80,667,664

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015
Revenues
Total revenues	$181,728
Expenses
Total expenses	238,862
Other income (expense)
Total other income (expense)	463,699
Income before taxes	406,565
Income tax expense (benefit)	5,892
Net income	400,673
Net income attributable to Ares Management, L.P.	18,456
Net income attributable to Ares Management L.P. per common unit
Basic (in dollars per unit)	$0.23
Diluted (in dollars per unit)	$0.23
Weighted-average common units
Basic (in units)	80,667,664
Diluted (in units)	80,667,664
Distributions declared per common unit	$0.24
Parent Company
Revenues
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	135,389
Performance fees	40,060
Other fees	6,279
Expenses
Compensation and benefits	101,851
Performance fee compensation	76,392
General, administrative and other expenses	45,547
Other income (expense)
Interest and other investment income	342
Interest expense	-3,684
Other income (expense), net	-330
Net realized gain (loss) on investments	6,764
Net change in unrealized appreciation (depreciation) on investments	3,476
Consolidated Funds
Expenses
Consolidated Funds' expenses	15,072
Other income (expense)
Interest and other investment income	338,186
Interest expense	-118,711
Net realized gain (loss) on investments	-61,436
Net change in unrealized appreciation (depreciation) on investments	299,092
Less: Net income attributable to redeemable interests	15,859
Less: Net income attributable to non-controlling interests	331,309
AOG
Other income (expense)
Less: Net income attributable to redeemable interests	243
Less: Net income attributable to non-controlling interests	$34,806

Consolidated_Statements_of_Ope1

Consolidated Statements of Operations (Parenthetical) (Affiliated entity, ARCC, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Affiliated entity | ARCC
Management fees, part I fees	$29,042	$28,318

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Net income	$400,673
Predecessor
Net income		281,370
Other comprehensive income:
Comprehensive income		43,124
Parent Company
Other comprehensive income:
Foreign currency translation adjustments	-29,339
Total comprehensive income	371,334
Comprehensive income	17,716
Parent Company | Predecessor
Other comprehensive income:
Foreign currency translation adjustments		180
Total comprehensive income		281,550
Consolidated Funds
Other comprehensive income:
Less: Comprehensive income attributable to redeemable interests	15,859
Less: Comprehensive income attributable to non-controlling interests	303,889
Consolidated Funds | Predecessor
Other comprehensive income:
Less: Comprehensive income attributable to redeemable interests		37,048
Less: Comprehensive income attributable to non-controlling interests		187,954
AOG
Other comprehensive income:
Less: Comprehensive income attributable to redeemable interests	236
Less: Comprehensive income attributable to non-controlling interests	33,634
AOG | Predecessor
Other comprehensive income:
Less: Comprehensive income attributable to redeemable interests		409
Less: Comprehensive income attributable to non-controlling interests		$13,015

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Equity (USD $)	Parent Company	Parent Company	Parent Company	Parent Company	Consolidated Funds	Consolidated Funds	Total
In Thousands, unless otherwise specified	Accumulated Other Comprehensive Income (Loss)	Non-Controlling interest	Partners' Capital		Non-Controlling interest	Equity Appropriated for Consolidated Funds
Balance at Dec. 31, 2014	($1,386)	$463,493	$285,025	$5,697,935	$4,988,729	($37,926)	$5,697,935
Increase (Decrease) in Stockholders' Equity
Relinquished with deconsolidation of funds				-147	-147
Reallocation of Partners' capital for changes in ownership interests		-7,272	7,191	-81
Deferred tax liabilities arising from allocation of contributions and Partners' capital		-78	-2,433	-2,511
Contributions		25,553		102,922	77,369
Distributions		-38,059	-19,360	-296,698	-239,279
Net income		34,806	18,456	384,571	236,639	94,670
Currency translation adjustment	-740	-1,172		-29,332	-26,672	-748
Equity compensation		4,504	2,762	7,266
Balance at Mar. 31, 2015	($2,126)	$481,775	$291,641	$5,863,925	$5,036,639	$55,996	$5,863,925

Consolidated_Statements_of_Cha1

Consolidated Statements of Changes in Equity (Parenthetical)	0 Months Ended
	7-May-14
Condensed Consolidated Statements of Changes in Equity
Issuance of common units (in units)	11,363,636

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income	$400,673
Allocable to non-controlling interest in Consolidated Funds:
Net cash provided by (used in) operating activities	-15,512
Cash flows from investing activities:
Net cash used in investing activities	-67,693
Allocable to non-controlling interest in Consolidated Funds:
Net cash provided by (used in) financing activities	32,878
Non-cash increase in assets and liabilities:
Issuance of AOG Units to non-controlling interest holders	25,468
Predecessor
Cash flows from operating activities:
Net income		281,370
Allocable to non-controlling interest in Consolidated Funds:
Net cash provided by (used in) operating activities		1,009,615
Cash flows from investing activities:
Net cash used in investing activities		-4,290
Allocable to non-controlling interest in Consolidated Funds:
Net cash provided by (used in) financing activities		-1,059,049
Parent Company
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity compensation expense	7,921
Depreciation and amortization	12,618
Net realized (gain) loss on investments	-6,764
Net change in unrealized (appreciation) depreciation on investments	-3,476
Investments purchased	-27,137
Cash proceeds from sale or pay down of investments	14,451
Cash flows due to changes in operating assets and liabilities:
Net change in restricted cash	32,734
Net change in net performance fees receivable	55,185
Net change in due to/from affiliates	5,060
Net change in other assets	-1,616
Net change in accrued compensation and benefits	-74,738
Net change in accounts payable, accrued expenses and other liabilities	-34,877
Net change in deferred taxes	165
Cash flows from investing activities:
Acquisitions, net of cash acquired	-64,437
Purchase of furniture, equipment and leasehold improvements, net	-3,256
Cash flows from financing activities:
Proceeds from credit facility	60,000
Contributions, net	85
Distributions	-57,679
Allocable to non-controlling interest in Consolidated Funds:
Effect of exchange rate changes and translation	-29,159
Net decrease in cash and cash equivalents	-79,486
Cash and cash equivalents, beginning of period	148,858
Cash and cash equivalents, end of period	69,372
Supplemental information:
Cash paid during the period for interest	303
Cash paid during the period for income taxes	17
Parent Company | Predecessor
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Equity compensation expense		5,339
Depreciation and amortization		11,120
Net realized (gain) loss on investments		66
Net change in unrealized (appreciation) depreciation on investments		-4,146
Investments purchased		-21,600
Cash proceeds from sale or pay down of investments		3,964
Cash flows due to changes in operating assets and liabilities:
Net change in restricted cash		5,687
Net change in net performance fees receivable		12,455
Net change in due to/from affiliates		-19,788
Net change in other assets		1,142
Net change in accrued compensation and benefits		-77,360
Net change in accounts payable, accrued expenses and other liabilities		-4,209
Net change in deferred taxes		-209
Cash flows from investing activities:
Purchase of furniture, equipment and leasehold improvements, net		-4,290
Cash flows from financing activities:
Proceeds from credit facility		30,000
Repayments of credit facility		-11,000
Distributions		-30,648
Allocable to non-controlling interest in Consolidated Funds:
Effect of exchange rate changes and translation		556
Net decrease in cash and cash equivalents		-53,168
Cash and cash equivalents, beginning of period		89,802
Cash and cash equivalents, end of period		36,634
Supplemental information:
Cash paid during the period for interest		1,072
Cash paid during the period for income taxes		4,892
Consolidated Funds
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Net realized (gain) loss on investments	61,436
Net change in unrealized (appreciation) depreciation on investments	-299,092
Investments purchased	-1,868,763
Cash proceeds from sale or pay down of investments	1,970,719
Allocable to non-controlling interests in Consolidated Funds:
Receipt of non-cash interest income and dividends from investments	-2,213
Amortization on debt and investments	-5,188
Allocable to non-controlling interest in Consolidated Funds:
Change in cash and cash equivalents held at Consolidated Funds	-3,620
Cash relinquished with deconsolidation of Consolidated Funds	-1,254
Change in other assets and receivables held at Consolidated Funds	-92,506
Change in other liabilities and payables held at Consolidated Funds	-155,230
Allocable to non-controlling interest in Consolidated Funds:
Contributions from non-controlling interest holders in Consolidated Funds	77,491
Distributions to non-controlling interest holders in Consolidated Funds	-377,693
Borrowings under loan obligation by Consolidated Funds	649,706
Repayments under loan obligations by Consolidated Funds	-319,032
Cash and cash equivalents, beginning of period	1,314,397
Cash and cash equivalents, end of period	1,318,017
Supplemental information:
Cash paid during the period for interest	57,731
Cash paid during the period for income taxes	1,261
Consolidated Funds | Predecessor
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Net realized (gain) loss on investments		-54,965
Net change in unrealized (appreciation) depreciation on investments		-67,344
Investments purchased		-2,321,820
Cash proceeds from sale or pay down of investments		3,075,968
Allocable to non-controlling interests in Consolidated Funds:
Receipt of non-cash interest income and dividends from investments		-2,999
Amortization on debt and investments		-4,672
Allocable to non-controlling interest in Consolidated Funds:
Change in cash and cash equivalents held at Consolidated Funds		363,800
Cash relinquished with deconsolidation of Consolidated Funds		-40,089
Change in other assets and receivables held at Consolidated Funds		129,596
Change in other liabilities and payables held at Consolidated Funds		-261,691
Allocable to non-controlling interest in Consolidated Funds:
Contributions from non-controlling interest holders in Consolidated Funds		158,613
Distributions to non-controlling interest holders in Consolidated Funds		-459,507
Borrowings under loan obligation by Consolidated Funds		44,584
Repayments under loan obligations by Consolidated Funds		-791,091
Supplemental information:
Cash paid during the period for interest		53,807
Cash paid during the period for income taxes		$1

ORGANIZATION_AND_BASIS_OF_PRES

ORGANIZATION AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2015
ORGANIZATION AND BASIS OF PRESENTATION
ORGANIZATION AND BASIS OF PRESENTATION
	1. ORGANIZATION AND BASIS OF PRESENTATION
	Ares Management, L.P. is a leading global alternative asset management firm that operates four distinct but complementary investment groups: the Tradable Credit Group, the Direct Lending Group, the Private Equity Group and the Real Estate Group. Information about segments should be read together with Note 16, "Segment Reporting." Subsidiaries of Ares Management LLC ("AM LLC"), a subsidiary of the Company, serve as the general partners and/or investment managers to various investment funds and managed accounts within each investment group (the "Ares Funds"), which are generally organized as pass-through entities for income tax purposes. Such subsidiaries provide investment advisory services to the Ares Funds in exchange for management fees. Ares Management, L.P. is a Delaware limited partnership formed on November 15, 2013. Ares is managed and operated by its general partner, Ares Management GP LLC. Unless the context requires otherwise, references to "Ares" or the "Company" refer to Ares Management, L.P. together with its subsidiaries.
	The accompanying condensed consolidated financial statements include (1) the results of the Company subsequent to the Reorganization (as described below) and (2) prior to the Reorganization, the condensed consolidated results of two affiliated entities, Ares Holdings Inc. ("AHI") and Ares Investments LLC ("AI"), which directly or indirectly hold controlling interests in AM LLC and Ares Investments Holdings LLC ("AIH LLC"), as well as their wholly owned subsidiaries (collectively, the "Predecessor"). Prior to the Reorganization, Ares Partners Management Company LLC ("APMC") directed the operations of AHI and AI through its controlling ownership interest of approximately 50.1% and 70.3%, respectively, in each entity. The remaining ownership of AHI and AI was shared among various minority, non-controlling strategic investment partners.
	In addition, certain Ares-affiliated funds, related co-investment entities and collateralized loan obligations ("CLOs") (collectively, the "Consolidated Funds") managed by AM LLC and its wholly owned subsidiaries have been consolidated in the accompanying condensed consolidated financial statements for the periods presented pursuant to generally accepted accounting principles in the United States ("GAAP") as described in Note 2, "Summary of Significant Accounting Policies." Including the results of the Consolidated Funds significantly increases the reported amounts of the assets, liabilities, revenues, expenses and cash flows in the accompanying condensed consolidated financial statements; however, the Consolidated Funds results included herein have no direct effect on the net income attributable to controlling interests or on total equity attributable to controlling interests. Instead, economic ownership interests of the investors in the Consolidated Funds are reflected as non-controlling interests in Consolidated Funds and as equity appropriated for Consolidated Funds in the accompanying condensed consolidated financial statements. Further, cash flows allocable to non-controlling interest in Consolidated Funds are specifically identifiable in the Condensed Consolidated Statement of Cash Flows.
	These statements and notes have not been audited, exclude some of the disclosures required for annual audited financial statements and should be read in conjunction with the audited condensed consolidated financial statements and notes included in the Annual Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission. The operating results presented for interim periods are not indicative of the results that may be expected for any other interim period or for the entire year. In the opinion of management, the condensed consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, which are necessary for the fair presentation of the financial condition and results of operations for the interim periods presented.
	Reorganization and Initial Public Offering
	Pursuant to a reorganization effectuated in connection with the initial public offering of the Company's common units ("IPO"), on May 1, 2014, the Company became a holding partnership, and the Company's sole assets became equity interests through wholly owned subsidiary entities in AHI, Ares Domestic Holdings, Inc. ("Domestic Holdings"), Ares Offshore Holdings, Ltd., AI and Ares Real Estate Holdings LLC. The Company, either directly or through direct subsidiaries, is the general partner of each of the Ares Operating Group (as defined below) entities, and operates and controls all of the businesses and affairs of the Ares Operating Group.
	Additionally, on May 1, 2014, in connection with the IPO, Ares Holdings LLC was converted into a limited partnership, Ares Holdings L.P. ("Ares Holdings"), and AI was converted into a limited partnership, Ares Investments L.P. ("Ares Investments"). In addition, the Company formed Ares Domestic Holdings L.P. ("Ares Domestic"), Ares Offshore Holdings L.P. ("Ares Offshore") and Ares Real Estate Holdings L.P. ("Ares Real Estate"). Ares Holdings, Ares Domestic, Ares Offshore, Ares Investments and Ares Real Estate are collectively referred to as the "Ares Operating Group."
	In exchange for its interest in the Company, prior to the consummation of the IPO, Ares Owners Holdings L.P. transferred to the Company its interests in each of AHI, Domestic Holdings, Ares Offshore Holdings, Ltd., Ares Real Estate Holdings LLC and a portion of its interest in Ares Investments. Similarly, Abu Dhabi Investment Authority ("ADIA") contributed its direct interest in AHI to its affiliate, AREC Holdings Ltd., a Cayman Islands exempted company ("AREC"). AREC then transferred to the Company its interest in each of AHI, Ares Domestic, Ares Offshore, Ares Investments and Ares Real Estate.
	These actions are referred to herein collectively as the "Reorganization".
	On May 7, 2014, the Company issued 11,363,636 common units in the IPO at a price of $19.00 per common unit. In addition, on June 4, 2014, the Company issued an additional 225,794 common units at $19.00 per common unit pursuant to the partial exercise by the underwriters of their overallotment option.
	The Company conducts all of its material business activities through the Ares Operating Group. Following the IPO, the Company consolidates the financial results of the Ares Operating Group entities, their consolidated subsidiaries and certain Consolidated Funds.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation
	The Company consolidates those entities in which it has a direct or indirect controlling financial interest based on either a variable interest model or a voting interest model. As such, the Company consolidates (a) entities in which it holds a majority voting interest or has majority ownership and control over the operational, financial and investing decisions of that entity, including Ares affiliates and affiliated funds and co-investment entities for which the Company is the general partner and is presumed to have control and (b) entities that the Company concludes are variable interest entities ("VIEs"), including limited partnerships in which the Company has a nominal economic interest and CLOs for which the Company is deemed to be the primary beneficiary.
	With respect to the Consolidated Funds, which typically represent limited partnerships and single member limited liability companies, the Company earns a fixed management fee based on invested capital or a derivation thereof, and a performance fee based upon the investment returns in excess of a stated benchmark or hurdle rate. The Company, as the general partner of various funds, generally has operational discretion and control, and limited partners have no substantive rights to impact ongoing governance and operating activities of the fund. Such a fund is required to be consolidated unless the Company has a less than significant level of equity at risk. The fund is typically considered a VIE, as described below, to the extent that the Company's equity at risk is less than significant in a given fund and it has no obligation to fund any future losses. In these cases, the fund investors are generally deemed to be the primary beneficiaries, and the Company does not consolidate the fund. In cases where the Company's equity at risk is deemed to be significant, the fund is generally not considered to be a VIE, and the Company will generally consolidate the fund unless the limited partners are granted substantive rights to remove the general partner or liquidate the fund. These rights are known as kick-out rights.
	Variable Interest Model
	The Company consolidates entities that are determined to be VIEs where the Company is deemed to be the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity's business and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The consolidation rules require an analysis to determine whether (i) an entity in which the Company holds a variable interest is a VIE and (ii) the Company's involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance related fees), would give the Company a controlling financial interest. The consolidation rules may be deferred for VIEs if the VIE and the reporting entity's interest in VIE meet deferral conditions set forth in FASB Accounting Standards Codification ("ASC") 810-10-65-2. Certain limited partnerships meet the deferral conditions if: (a) the limited partnerships generally have all the attributes of an investment company, (b) the Company does not have the obligation to fund losses of the limited partnership and (c) the limited partnership is not a securitization, asset- backed financing entity or qualifying special purpose vehicle. Where a VIE qualifies for the deferral of the consolidation rules, the analysis is based on consolidation rules prior to January 1, 2010. These rules require an analysis to determine (i) whether an entity in which the Company holds a variable interest is a VIE and (ii) whether the Company's involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance related fees) would be expected to absorb a majority of the variability of the entity. Under either guideline, the Company determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders the conclusion at each reporting date. In evaluating whether the Company is the primary beneficiary, the Company evaluates its direct and indirect economic interests in the entity. The consolidation analysis is generally performed qualitatively; however, if the primary beneficiary is not readily determinable, a quantitative assessment may also be performed. This analysis requires judgment. These judgments include: (1) determining whether the equity investment at risk is sufficient to permit the entity to finance its activities without additional subordinated financial support, (2) evaluating whether the equity holders, as a group, can make decisions that have a significant effect on the success of the entity, (3) determining whether two or more parties' equity interests should be aggregated, (4) determining whether the equity investors have proportionate voting rights to their obligations to absorb losses or rights to receive returns from an entity, (5) evaluating the nature of relationships and activities of the parties involved in determining which party within a related-party group is most closely associated with a VIE and (6) estimating cash flows in evaluating which member within the equity group absorbs a majority of the expected losses and hence would be deemed the primary beneficiary.
	As of March 31, 2015 and December 31, 2014, assets of consolidated VIEs reflected in the Condensed Consolidated Statements of Financial Condition were $14.3 billion and $14.2 billion, respectively, and are presented within "Assets of Consolidated Funds." As of March 31, 2015 and December 31, 2014, liabilities of consolidated VIEs reflected in the Condensed Consolidated Statements of Financial Condition were $13.3 billion and $13.2 billion, respectively, and are presented within "Liabilities of Consolidated Funds." The holders of the consolidated VIEs' liabilities do not have recourse to the Company other than to the assets of the consolidated VIEs. The assets and liabilities of the consolidated VIEs are comprised primarily of investment securities and loan obligations, respectively. All significant intercompany transactions and balances have been eliminated in consolidation.
	As of March 31, 2015 and December 31, 2014, the Company held $178.2 million and $193.0 million of investments in these consolidated VIEs, respectively, which represents its maximum exposure to loss. The maximum exposure to loss represents the Company's total investment in these entities.
	Certain funds that have historically been consolidated in the financial statements are no longer consolidated because, as of the reporting period: (a) they were liquidated or dissolved, including one and three funds for the three months ended March 31, 2015 and 2014, respectively, (b) the Company no longer holds a majority voting interest, including none and four funds for the three months ended March 31, 2015 and 2014, respectively, or (c) the Company is no longer deemed to be the primary beneficiary of the VIEs as it has no economic interest, no obligation to absorb losses and no significant rights to receive benefits from the VIEs, including eight and eleven funds for the three months ended March 31, 2015 and 2014, respectively. For deconsolidated funds, the Company continues as the general partner and/or investment manager until such funds are fully liquidated.
	Equity Appropriated for Consolidated Funds
	As of March 31, 2015 and December 31, 2014, the Company consolidated 26 and 31 CLOs, respectively. CLOs are investment vehicles created for the sole purpose of issuing collateralized loan obligations. Upon consolidation, the Company elected the fair value option for eligible liabilities to mitigate accounting mismatches between the carrying value of the assets and liabilities. The Company accounts for the excess in fair value of assets over liabilities upon initial consolidation of funds as an increase in equity appropriated for Consolidated Funds. Net income (loss) of the CLOs is allocated to equity appropriated for Consolidated Funds.
	The loan obligations issued by the CLOs are backed by diversified collateral asset portfolios and by structured debt or equity. In exchange for managing the collateral for the CLOs, the Company earns management fees, including, in some cases, senior and subordinated management fees and contingent performance fees. In cases where the Company earns fees from a fund that it consolidates with the CLOs, those fees have been eliminated as intercompany transactions. The Company's holdings in these CLOs are generally subordinated to other interests in the entities and entitle the Company to receive a pro rata portion of the residual cash flows, if any, from the entities. Additionally, the Company may invest in other senior secured notes, which are repaid based on available cash flows subject to priority of payments under each Consolidated CLO's governing documents. Investors in the CLOs generally have no recourse against the Company for any losses sustained in the capital structure of each CLO.
	Investments in Non-Consolidated Variable Interest Entities
	The Company holds interests in certain VIEs that are not consolidated because the Company has determined it is not the primary beneficiary. The Company's interest in such entities generally is in the form of direct equity interests and fixed fee arrangements. The maximum exposure to loss represents the potential loss of assets by the Company relating to these non-consolidated entities. There is no difference between the carrying value and fair value as investments in the non-consolidated VIEs are carried at fair value. The Company's interests and the Consolidated Funds' interests in these non-consolidated VIEs and their respective maximum exposure to loss relating to non-consolidated VIEs are as follows:
		As of March 31,		As of December 31,
		2015		2014
	Maximum exposure to loss attributable to the Company's investment in non-consolidated VIEs	$	16,741	$	14,851
	Maximum exposure to loss attributable to Consolidated Funds' investments in non-consolidated VIEs	$	2,236	$	2,519
	Basis of Accounting
	The accompanying condensed consolidated financial statements are prepared in accordance with GAAP. Certain comparative amounts for prior periods have been reclassified to conform to the current year's presentation. Management has determined that the Company's Consolidated Funds are investment companies under GAAP for the purposes of financial reporting based on the following characteristics: the Consolidated Funds obtain funds from one or more investors and provide investment management services and the Consolidated Funds' business purpose and substantive activities are investing funds for returns from capital appreciation and/or investment income. Therefore, investments of Consolidated Funds are recorded at fair value and the unrealized appreciation (depreciation) in an investment's fair value is recognized on a current basis in the Condensed Consolidated Statements of Operations. Additionally, the Consolidated Funds do not consolidate their majority-owned and controlled investments in portfolio companies. In the preparation of these condensed consolidated financial statements, the Company has retained the specialized accounting guidance for the Consolidated Funds under GAAP.
	All of the investments held and CLO loan obligations issued by the Consolidated Funds are presented at their estimated fair values in the Company's Condensed Consolidated Statements of Financial Condition. The excess of the CLO assets over the CLO liabilities upon consolidation is reflected in the Company's Condensed Consolidated Statements of Financial Condition as equity appropriated for Consolidated Funds. Net income attributable to the investors in the CLOs is included in net income (loss) attributable to non-controlling interests in Consolidated Funds in the Condensed Consolidated Statements of Operations and equity appropriated for Consolidated Funds in the Condensed Consolidated Statements of Financial Condition.
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make assumptions and estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management's estimates are based on historical experiences and other factors, including expectations of future events that management believes to be reasonable under the circumstances. These assumptions and estimates require management to exercise judgment in the process of applying the Company's accounting policies. Assumptions and estimates regarding the valuation of investments and their resulting impact on performance fee revenue and performance fee compensation involve a high degree of judgment and complexity, and these assumptions and estimates may be significant to the condensed consolidated financial statements. Actual results could differ from these estimates and such differences could be material.
	Non-Controlling Interests in Ares Operating Group Entities
	Following the Reorganization, non-controlling interests in Ares Operating Group entities (collectively, the "Ares Operating Group Units" or "AOG Units") represent a component of equity and net income attributable to the owners of AOG Units that are not held directly or indirectly by Ares Management, L.P. These interests are adjusted for contributions to and distributions from Ares Operating Group entities during the reporting period and are allocated income from the Ares Operating Group entities based on their historical ownership percentage for the proportional number of days in the reporting period.
	For the periods presented prior to the Reorganization, non-controlling interests in Ares Operating Group entities represent equity interests and net income attributable to various minority non-control oriented strategic investment partners, which were reflected as non-controlling interests in the Predecessor's historical results.
	Redeemable Interest in Ares Operating Group Entities
	Redeemable interests in Ares Operating Group entities represent a portion of the collective ownership interest in Ares Operating Group Units granted to professionals of the Company in connection with the Company's acquisition of Indicus Advisors, LLP ("Indicus") during 2011. This ownership interest may be redeemed for a cash payment of $20.0 million provided that a portion of such interests are subject to certain conditions relating to continued employment. Income is allocated in proportion to the redeemable interests' ownership percentage in Ares Operating Group Units.
	Income Allocation
	Income (loss) before taxes is allocated based on each partner's average daily ownership of the Ares Operating Group entities for each year presented. The net income attributable to Ares Management, L.P. for the three months ended March 31, 2015 represents its average daily ownership of 37.85%.
	Equity-Method Investments
	The Company accounts for its investments held by its operating subsidiary, and in which it has or is otherwise presumed to have significant influence, including investments in unconsolidated funds and strategic investments, using the equity-method of accounting or at fair value pursuant to the fair value option permitted by FASB ASC 825, Financial Instruments.
	Unless the Company elects the fair value option, the carrying value of investments accounted for using equity-method accounting is determined based on amounts invested by the Company, adjusted for the equity in earnings or losses of the investee allocated based on the respective partnership agreements, less distributions received. The Company evaluates the equity-method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. The Company's share of the investee's income and expenses for the Company's equity-method investments is included within net realized gain (loss) on investments on the Condensed Consolidated Statements of Operations.
	The fair value option permits the irrevocable fair value option election on an instrument-by-instrument basis at initial recognition of an asset or liability or upon an event that gives rise to a new basis of accounting for that instrument. The Company elected the fair value option for certain of its equity-method investments. Unrealized appreciation (depreciation) and realized gains (losses) from the Company's equity-method investments at fair value are included within net change in unrealized appreciation (depreciation) on investments and net realized gain (loss) on investments, respectively, on the Condensed Consolidated Statements of Operations.
	Recent Accounting Pronouncements
	In February 2015, the FASB amended the consolidation standards for reporting entities that are required to evaluate whether they should consolidate certain legal entities. Under the new guidance, all legal entities are subject to reevaluation under the revised consolidation model. Specifically, the guidance (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities; (ii) eliminates the presumption that a general partner should consolidate a limited partnership; (iii) affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (iv) provides a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940, as amended for registered money market funds. The amendments are effective for annual reporting periods beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.
	In April 2015, the FASB issued guidance simplifying the presentation of debt issuance costs. The amendments require that debt issuance costs related to recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the new guidance. The amendments are effective for annual reporting periods, including interim periods within those reporting periods, beginning after December 15, 2015, and early adoption is permitted. The guidance is to be applied on a retrospective basis and accounted for as a change in accounting principle. The Company has elected to adopt this guidance in this Quarterly Report on Form 10-Q as of and for the three months ended March 31, 2015. Accordingly, unamortized debt issuance costs as of March 31, 2015 of $7.2 million for the Company and $5.9 million for the Consolidated Funds are reported as a reduction from the carrying amount of the respective debt obligations in the Condensed Consolidated Statements of Financial Condition. Unamortized debt issuance costs of $2.3 million as of December 31, 2014, which were previously reported in other assets in the Condensed Consolidated Statements of Financial Condition, have been reclassified as a deduction from the carrying amount of the respective debt. Unamortized debt issuance costs of $5.3 million related to the Company's Credit Facility (as defined in Note 8), continue to be included in other assets in the Condensed Consolidated Statements of Financial Condition as of December 31, 2014, as there was no balance outstanding under the Credit Facility as of December 31, 2014. Unamortized debt issuance costs of $6.3 million as of December 31, 2014, which were reported in other assets of the Consolidated Funds in the Condensed Consolidated Statements of Financial Condition, have been reclassified as a deduction from the carrying amount of the respective debt. The changes represent the change in accounting principle that has been applied to all periods presented for consistency.
	In May 2015, the FASB issued guidance removing the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. Removing these investments from the fair value hierarchy will eliminate diversity in current practice resulting from the way in which investments measured at net asset value per share with future redemption dates are classified and ensure that all investments categorized in the fair value hierarchy are classified using a consistent approach. Investments that calculate net asset value per share, but for which the practical expedient is not applied, will continue to be included in the fair value hierarchy. The amendments are effective for public entities for annual reporting periods beginning after December 15, 2015 and interim periods within those reporting periods and should be applied retrospectively to all periods presented. Early adoption of the amendments is permitted. The Company is currently evaluating the impact of this guidance on its condensed consolidated financial statements.

BUSINESS_COMBINATIONS_GOODWILL

BUSINESS COMBINATIONS, GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2015
BUSINESS COMBINATIONS, GOODWILL AND INTANGIBLE ASSETS
BUSINESS COMBINATIONS, GOODWILL AND INTANGIBLE ASSETS	3. BUSINESS COMBINATIONS, GOODWILL AND INTANGIBLE ASSETS
	Acquisition of EIF Management, LLC
	On January 1, 2015, the Company completed the acquisition of all of the outstanding membership interests of EIF Management, LLC ("EIF"), a Delaware limited liability company, in accordance with the membership interest purchase agreement entered into on October 30, 2014. EIF is an asset manager in the U.S. power and energy assets industry with approximately $4.4 billion of AUM across four commingled funds and four related co-investment vehicles at March 31, 2015. As a result of the acquisition, the Company now has a new energy infrastructure equity strategy focused on generating long-term, stable cash-flowing investments in the power generation, transmission and midstream energy sector. EIF is part of the Company's Private Equity Group segment.
	The acquisition-date fair value of the consideration transferred totaled $149.2 million, which consisted of the following:
	Cash		$	64,532
	Equity (1,578,947 Ares Operating Group units)			25,468
	Contingent consideration			59,171
	Total		$	149,171
	The acquisition-date fair value of $25.5 million for the 1,578,947 Ares Operating Group Units issued was determined based on the volume weighted average price of Ares common units on the New York Stock Exchange from October 17, 2014 to November 13, 2014.
	The transaction also included contingent consideration that is payable to EIF's former membership interest holders if Ares successfully launches a new fund ("Fund V") that meets certain revenue and fee paying commitment targets during Fund V's commitment period.
	The fair value of the liability for contingent consideration as of the acquisition date was $78.0 million and is subject to change until the liability is settled with the related impact recorded to our condensed consolidated statements of operations as acquisition-related and other expenses. Contingent consideration includes (i) cash and equity consideration, with fair value estimated to be approximately $59.2 million, that are not subjected to vesting or are fully vested and will be recorded as purchase price and (ii) equity consideration, with fair value estimated to be approximately $18.8 million, that will generally vest ratably over a period of two to five years after Fund V's final closing and will be recorded as equity-based compensation. Up to half of the Ares Operating Group Units that have been issued are exchangeable from and after July 1, 2015 and all of the Ares Operating Group Units that have been issued are exchangeable in the transaction from and after January 2, 2016, subject to customary conversion rate adjustments for splits, unit distributions and reclassifications, or, at the Company's option, for cash.
	The fair value of the contingent consideration was estimated using an income approach, specifically a probability-weighted discounted cash flow model. This fair value measurement is based on significant inputs not observable in the market and thus represents a Level III measurement as defined in ASC 820. The key assumptions in applying the discounted cash flow model are as follows: discount rate of 4.1% estimated based on the short-term pre-tax cost of debt and probability adjusted revenues between $16.9 million and $45.0 million.
	The following is a summary of the estimated fair values of assets acquired and liabilities assumed for the EIF acquisition as of January 1, 2015. The Company is in the process of obtaining third-party valuations of certain intangible assets; thus, the provisional measurements of contingent consideration, intangible assets, goodwill and deferred income tax are subject to change. Additionally, the Company evaluated three leases assumed in connection with the EIF acquisition as of January 1, 2015. Based upon the existing terms of the acquired leases, the Company determined that the lease payments are at current market conditions. The fair value of assets acquired and liabilities assumed are estimated to be:
	Cash		$	95
	Other tangible assets			610
	Intangible assets:
	Management contracts			48,521
	Client relationships			38,600
	Trade name			3,200
	Total intangible assets			90,321
	Total identifiable assets acquired			91,026
	Accounts payable, accrued expenses and other liabilities			455
	Total liabilities assumed			455
	Net identifiable assets acquired		$	90,571
	Goodwill:
	Assembled workforce		$	8,300
	Others			50,300
	Total goodwill			58,600
	Net assets acquired		$	149,171
	The Company incurred $3.6 million of acquisition-related costs which are expensed as incurred and reported within general, administrative, and other expenses within the Condensed Consolidated Statements of Operations.
	The carrying value of goodwill was $58.6 million as of March 31, 2015 and is entirely allocated to the Private Equity Group segment. The goodwill to be recognized is attributable primarily to expected synergies and the assembled workforce of EIF.
	The $90.3 million acquired intangible assets are assigned to finite-lived intangible assets as follows:
	•	$38.6 million is provisionally assigned to client relationship and is subject to an estimated useful life of approximately 12 to 15 years;
	•	$48.5 million is provisionally assigned to acquired management contracts and is subject to an estimated useful life of approximately two to four years; and
	•	$3.2 million is provisionally assigned to trade name that is subject to an estimated useful life of approximately seven to eight years.
	In connection with certain business combinations and asset acquisitions, the Company records the fair value of intangible assets acquired together with goodwill.
	Goodwill and Intangible Assets
	The following table summarizes the carrying value for the Company's intangible assets:
			As of			As of
			March 31,			December 31,
			2015			2014
	Finite-lived intangible assets		$	203,899		$	114,102
	Less: accumulated amortization			(83,631	)		(73,154	)
	Finite-lived intangible assets, net			120,268			40,948
	Goodwill			144,080			85,582
	Total intangible assets and goodwill, net		$	264,348		$	126,530
	There were no impairments of goodwill recorded as of March 31, 2015 and December 31, 2014.
	Finite-Lived Intangible Assets, Net
	Intangible assets, net represents the fair value in excess of carrying value related to the acquisition of management contracts, client relationships and a trade name, and the future benefits of managing new assets for existing clients.
	The following table summarizes the carrying value, net of accumulated amortization, for the Company's intangible assets:
			As of			As of
			March 31,			December 31,
			2015			2014
	Previously acquired management contracts(1)		$	113,578		$	114,102
	EIF management contracts			48,521			—
	EIF client relationships			38,600			—
	EIF trade name			3,200			—
	Total intangible assets acquired			203,899			114,102
	Less: accumulated amortization			(83,631	)		(73,154	)
	Intangible assets, net		$	120,268		$	40,948
	-1	Intangibles relating to London based asset manager are recorded in Pounds Sterling and are translated at spot rate at each reporting date.
	Amortization expense associated with intangible assets was $10.9 million and $8.8 million for the three months ended March 31, 2015 and 2014, respectively, and is presented within general, administrative and other expenses within the Condensed Consolidated Statements of Operations.
	For the three months ended March 31, 2014, the Company accelerated amortization expense by $3.0 million to remove the remaining carrying value of certain management contracts within the Tradable Credit Group that had terminated. There was no acceleration of amortization expense for the three months ended March 31, 2015.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2015
INVESTMENTS
INVESTMENTS
	4. INVESTMENTS
	Investments of the Company
	The Company's investments are comprised of equity-method investments and investments presented at fair value in accordance with the investment company guidance.
	Fair Value Investments
	The Company's fair value investments are presented below:
			Fair value at						Fair value as a
									percentage of total
									investments at
			March 31,			December 31,			March 31,			December 31,
			2015			2014			2015			2014
	Private Investment Partnership Interests:
	AREA European Property Enhancement Program L.P.		$	1,989		$	1,760			1.0	%		1.0	%
	AREA Sponsor Holdings LLC			42,027			40,296			22.1	%		23.6	%
	Ares Capital Europe II (D), L.P.			19,294			15,592			10.2	%		9.2	%
	Ares Capital Europe II (E), L.P.(1)			35			31			0.0	%		0.0	%
	Ares Centre Street Partnership, L.P.			2,471			256			1.3	%		0.2	%
	Ares Corporate Opportunities Fund, L.P.(2)			576			777			0.3	%		0.5	%
	Ares Corporate Opportunities Fund IV, L.P.			27,233			21,836			14.4	%		12.8	%
	Ares Credit Strategies Fund II, L.P.			636			627			0.3	%		0.4	%
	Ares Credit Strategies Fund III, L.P.			19			19			0.0	%		0.0	%
	Ares European Credit Strategies Fund (C) L.P(1).			547			497			0.3	%		0.3	%
	Ares European Real Estate Fund IV L.P.			1,923			2,455			1.0	%		1.4	%
	Ares Multi-Strategy Credit Fund V (H), L.P.			1,088			1,068			0.6	%		0.6	%
	Ares Special Situations Fund I-B, L.P.			1			2			0.0	%		0.0	%
	Ares Special Situations Fund III, L.P.			27,452			26,867			14.5	%		15.8	%
	Ares Special Situations Fund IV, L.P.			6,622			—			3.5	%		—
	Ares SSF Riopelle, L.P.(3)			3,915			4,211			2.1	%		2.5	%
	Ares Strategic Investment Partners, L.P.			76			75			0.0	%		0.0	%
	Ares Strategic Investment Partners III, L.P.			—			2,672			—			1.6	%
	Ares Strategic Real Estate Program—HHC, LLC			4,344			3,094			2.3	%		1.8	%
	Ares US Real Estate Fund VIII, L.P.(3)			2,877			1,574			1.5	%		0.9	%
	Resolution Life L.P.			45,348			45,348			23.9	%		26.6	%
	Total private investment partnership interests (cost: $147,712 and $128,756 at March 31, 2015 and December 31, 2014, respectively)			188,473			169,057			99.3	%		99.2	%
	Common Stock:
	Ares Multi-Strategy Credit Fund, Inc.			95			89			0.1	%		0.1	%
	Total common stock (cost: $110 and $108 at March 31, 2015 and December 31, 2014, respectively)			95			89			0.1	%		0.1	%
	Corporate Bonds:
	Ares Commercial Real Estate Corporation Convertible Senior Notes			1,178			1,178			0.6	%		0.7	%
	Total corporate bond (cost: $1,150, at March 31, 2015 and December 31, 2014, respectively)			1,178			1,178			0.6	%		0.7	%
	Total fair value investments (cost: $148,972 and $130,014 at March 31, 2015 and December 31, 2014, respectively)		$	189,746		$	170,324			100.0	%		100.0	%
	-1	Denominated in foreign currency; fair value is translated into U.S. Dollars
	-2	Security represents the sole investment held by ACOF Co-Investors LLC
	-3	Represents underlying security that is held through multiple vehicles
	Equity-Method Investments
	The Company's equity-method investments include investments that are not consolidated but in which the Company exerts significant influence. The Company's equity-method investments, including those where the fair value option was elected, are summarized below:
			As of March 31,			As of December 31,
			2015			2014
	Equity-method investment		$	3,884		$	3,728
	Equity-method investment at fair value			5,000			—
	Total equity-method investment		$	8,884		$	3,728
	Investments of the Consolidated Funds
	Investments held in the Consolidated Funds are summarized below:
			Fair value at						Fair value as a
									percentage of total
									investments at
			March 31,			December 31,			March 31,			December 31,
			2015			2014			2015			2014
	United States:
	Fixed income securities:
	Consumer discretionary		$	3,232,955		$	3,136,899			17.0	%		16.3	%
	Consumer staples			251,814			221,708			1.3	%		1.2	%
	Energy			304,943			416,861			1.6	%		2.2	%
	Financials			473,222			401,673			2.5	%		2.1	%
Healthcare, education and childcare			1,262,427			1,191,619			6.6	%		6.2	%
Industrials			1,639,565			1,717,523			8.6	%		9.0	%
Information technology			787,710			745,920			4.1	%		3.9	%
Materials			456,200			393,569			2.4	%		2.1	%
Partnership and LLC interests			14,839			16,256			0.1	%		0.1	%
Telecommunication services			1,347,337			1,287,688			7.1	%		6.7	%
Utilities			201,436			223,553			1.1	%		1.2	%
Total fixed income securities (cost: $10,029,620 and $9,928,006, at March 31, 2015 and December 31, 2014, respectively)			9,972,448			9,753,269			52.4	%		51.0	%
Equity securities:
Consumer discretionary			2,958,697			2,852,369			15.7	%		14.9	%
Consumer staples			499,372			443,711			2.6	%		2.3	%
Energy			82,451			150,755			0.4	%		0.8	%
Financials			10,223			8,272			0.1	%		0.0	%
Healthcare, education and childcare			533,239			464,159			2.8	%		2.4	%
Industrials			124,747			128,247			0.7	%		0.7	%
Partnership and LLC interests			114,040			89,105			0.6	%		0.5	%
Telecommunication services			9,643			16,576			0.1	%		0.1	%
Total equity securities (cost: $2,957,558 and $2,964,900 at March 31, 2015 and December 31, 2014, respectively)			4,332,412			4,153,194			23.0	%		21.7	%
		Fair value at						Fair value as a
								percentage of total
								investments at
		March 31,			December 31,			March 31,			December 31,
		2015			2014			2015			2014
Europe:
Fixed income securities:
Consumer discretionary			887,516			1,080,270			4.7	%		5.6	%
Consumer staples			108,667			126,766			0.6	%		0.7	%
Energy			5,138			16,509			0	%		0.1	%
Financials			362,526			345,811			1.9	%		1.8	%
Healthcare, education and childcare			252,273			303,116			1.3	%		1.6	%
Industrials			441,604			526,214			2.3	%		2.8	%
Information technology			145,224			130,504			0.8	%		0.7	%
Materials			371,322			326,659			2	%		1.7	%
Telecommunication services			595,715			833,015			3.1	%		4.4	%
Utilities			1,123			2,516			0	%		0	%
Total fixed income securities (cost: $3,232,752 and $3,813,343 at March 31, 2015 and December 31, 2014, respectively)			3,171,108			3,691,380			16.7	%		19.4	%
Equity securities:
Consumer discretionary			3,678			2,940			0	%		0	%
Consumer staples			895			862			0	%		0	%
Healthcare, education and childcare			26,455			27,774			0.1	%		0.1	%
Industrials			—			76			—			0	%
Partnership and LLC interests			19,012			17,107			0.1	%		0.1	%
Telecommunication services			5,092			4,686			0	%		0	%
Total equity securities (cost: $102,244 and $98,913 at March 31, 2015 and December 31, 2014, respectively)			55,132			53,445			0.2	%		0.2	%
Asia and other:
Fixed income securities:
Consumer discretionary			68,495			73,250			0.4	%		0.4	%
Financials			480,936			493,618			2.5	%		2.6	%
Healthcare, education and childcare			38,835			41,536			0.2	%		0.2	%
Telecommunication services			37,084			30,777			0.2	%		0.2	%
Total fixed income securities (cost: $570,443 and $579,436, at March 31, 2015 and December 31, 2014, respectively)			625,350			639,181			3.3	%		3.4	%
Equity securities:
Consumer discretionary			66,861			89,897			0.4	%		0.5	%
Consumer staples			62,778			62,467			0.3	%		0.3	%
Healthcare, education and childcare			32,598			33,610			0.2	%		0.2	%
Materials			52,947			52,947			0.3	%		0.3	%
Partnership and LLC interests			16,287			13,478			0.1	%		0.1	%
Utilities			8,377			8,994			0	%		0	%
Total equity securities (cost: $179,047 and $184,022 at March 31, 2015 and December 31, 2014, respectively)			239,848			261,393			1.3	%		1.4	%
Canada:
Fixed income securities:
Consumer discretionary			62,163			71,379			0.3	%		0.4	%
Consumer staples			12,747			—			0.1	%		—
Energy			60,059			60,605			0.3	%		0.3	%
Healthcare, education and childcare			95,322			84,470			0.5	%		0.4	%
Industrials			36,999			30,009			0.2	%		0.2	%
Materials			—			5,625			—			0	%
Partnership and LLC interests			3,807			1,327			0	%		0	%
Telecommunication services			107,811			109,805			0.6	%		0.6	%
Total fixed income securities (cost: $408,532 and $396,108 at March 31, 2015 and December 31, 2014, respectively)			378,908			363,220			2	%		1.9	%
Equity securities:
Energy			—			—			—			—
Total equity securities (cost: $68,249 and $68,249 at March 31, 2015 and December 31, 2014, respectively)			—			—			—			—
Australia:
Fixed income securities:
Energy			72,909			66,150			0.4	%		0.3	%
Industrials			40,350			32,146			0.2	%		0.2	%
Utilities			89,428			94,738			0.5	%		0.5	%
Total fixed income securities (cost: $222,035 and $213,759 at March 31, 2015 and December 31, 2014, respectively)			202,687			193,034			1.1	%		1	%
Equity Securities:
Telecommunication services			7,765			7,547			0	%		0	%
Utilities			5,285			8,287			0	%		0	%
Total equity securities (cost: $22,233 and $22,233 at March 31, 2015 and December 31, 2014, respectively)			13,050			15,834			0	%		0	%
Total fixed income securities			14,350,501			14,640,084			75.5	%		76.7	%
Total equity securities			4,640,442			4,483,866			24.5	%		23.3	%
Total investments, at fair value		$	18,990,943		$	19,123,950			100	%		100	%
Securities sold short, at fair value		$	(3,763	)	$	(3,763	)		100	%		100	%
At March 31, 2015 and December 31, 2014, no single issuer or investment, including derivative instruments and underlying portfolio investments of the Consolidated Funds, had a fair value that exceeded 5.0% of the Company's total consolidated net assets.

FAIR_VALUE

FAIR VALUE	3 Months Ended
	Mar. 31, 2015
FAIR VALUE
FAIR VALUE
	5. FAIR VALUE
	GAAP establishes a hierarchal disclosure framework which prioritizes the inputs used in measuring financial instruments at fair value into three levels based on their market observability. Market price observability is affected by a number of factors, including the type of instrument and the characteristics specific to the instrument. Financial instruments with readily available quoted prices from an active market or for which fair value can be measured based on actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment inherent in measuring fair value.
	Financial assets and liabilities measured and reported at fair value are classified as follows:
	•	Level I—Quoted unadjusted prices for identical instruments in active markets to which the Company has access at the date of measurement.
	•	Level II—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are directly or indirectly observable. Level II inputs include prices in markets for which there are few transactions, prices that are not current, prices for which little public information exists or prices that vary substantially over time or among brokered market makers. Other inputs include interest rates, yield curves, volatilities, prepayment risks, loss severities, credit risks and default rates.
	•	Level III—Model-derived valuations for which one or more significant inputs are unobservable. These inputs reflect the Company's assessment of the assumptions that market participants use to value the investment based on the best available information.
	In some instances, an instrument may fall into different levels of the fair value hierarchy. In such instances, the instrument's level within the fair value hierarchy is based on the lowest of the three levels (with Level III being the lowest) that is significant to the fair value measurement. The Company's assessment of the significance of an input requires judgment and considers factors specific to the instrument. The Company accounts for the transfer of assets into or out of each fair value hierarchy level as of the beginning of the reporting period.
	Investment / Liability Valuations
	The valuation techniques used by the Company to measure fair value maximize the use of observable inputs and minimize the use of unobservable inputs. The valuation techniques applied to investments held by the Company and by the Consolidated Funds vary depending on the nature of the investment.
	CLO loan obligations:    The Company has elected the fair value option to measure the CLO loan obligations at fair value as the Company has determined that measurement of the loan obligations issued by the CLOs at fair value better correlates with the value of the assets held by the CLOs, which are held to provide the cash flows for the note obligations.
	The fair value of CLO liabilities is estimated based on various valuation models of third-party pricing services as well as internal models. The valuation models generally utilize discounted cash flows and take into consideration prepayment and loss assumptions, based on historical experience and projected performance, economic factors, the characteristics and condition of the underlying collateral, comparable yields for similar securities and recent trading activity. These securities are classified as Level III.
	Corporate debt, bonds, bank loans, securities sold short and derivative instruments:    The fair value of corporate debt, bonds, bank loans, securities sold short and derivative instruments is estimated based on quoted market prices, dealer quotations or alternative pricing sources supported by observable inputs. These investments are generally classified within Level II. The Company obtains prices from independent pricing services that generally utilize broker quotes and may use various other pricing techniques, which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data. If the pricing services are only able to obtain a single broker quote or utilize a pricing model, such securities will be classified as Level III. If the pricing services are unable to provide prices, the Company will attempt to obtain one or more broker quotes directly from a dealer, price such securities at the last bid price obtained and classify such securities as Level III.
	Equity and equity-related securities:    Securities traded on a national securities exchange are stated at the last reported sales price on the day of valuation. To the extent these securities are actively traded and valuation adjustments are not applied, they are classified as Level I. Securities that trade in markets that are not considered to be active but are valued based on quoted market prices, dealer quotations or alternative pricing sources supported by observable inputs obtained by the Company from independent pricing services are classified as Level II.
	Partnership interests:    In accordance with ASU 2009-12,  Investments in Certain Entities that Calculate Net Asset Value per Share (or its Equivalent), the Company generally values its investments using the net asset value ("NAV") per share equivalent calculated by the investment manager as a practical expedient to determining an independent fair value or estimates based on various valuation models of third-party pricing services, as well as internal models. Such valuations are classified as Level II to the extent the investments are currently redeemable; if the investments are subject to a lock-up period, they are classified as Level III.
	Certain investments of the Company and the Consolidated Funds are valued at NAV per share of the fund. In limited circumstances, the Company may determine, based on its own due diligence and investment procedures, that NAV per share does not represent fair value. In such circumstances, the Company will estimate the fair value in good faith and in a manner that it reasonably chooses, in accordance with the requirements of GAAP. However, as of March 31, 2015 and December 31, 2014, the Company believes that NAV per share represents the fair value of the investments.
	The substantial majority of the Company's private commingled funds are closed-ended, and accordingly, do not permit investors to redeem their interests other than in limited circumstances that are beyond the control of the Company, such as instances in which retaining the interest could cause the investor to violate a law, regulation or rule. Investors in open-ended and evergreen funds generally have the right to withdraw their capital, subject to the terms of the respective constituent documents, over periods ranging from one month to three years. In addition, separately managed investment vehicles for a single fund investor may allow such investors to terminate the fund at the discretion of the investor pursuant to the terms of the applicable constituent documents of such vehicle.
	In the absence of observable market prices, the Company values Level III investments using consistent valuation methodologies, typically market- or income-based approaches. The main inputs into the Company's valuation model for Level III securities include earnings multiples (based on the historical earnings of the issuer) and discounted cash flows. The Company may also consider original transaction price, recent transactions in the same or similar instruments, completed third-party transactions in comparable instruments and other liquidity, credit and market risk factors. The quarterly valuation process for Level III investments begins with each investment or loan being valued by the investment or valuation teams. The valuations are then reviewed and approved by the valuation committee, which consists of senior members of the investment team and other senior managers. All Level III investment values are ultimately approved by the valuation committees and designated investment professionals. For certain investments, the valuation process also includes a review by independent valuation parties, at least annually, to determine whether the fair values determined by management are reasonable. Results of the valuation process are evaluated each quarter, including an assessment of whether the underlying calculations should be adjusted. In connection with this process, the Company evaluates changes in fair value measurements from period to period for reasonableness, considering items such as industry trends, general economic and market conditions and factors specific to the investment.
	Certain Level III assets are valued using prices obtained from brokers or pricing vendors. The Company obtains an average of one to two non-binding broker quotes. The Company seeks to obtain at least one quote directly from a broker making a market for the asset and one price from a pricing vendor for each security or similar securities. For investments where more than one quote is received, the investments are classified as Level II. For investments where only one quote is received, the investments are classified as Level III as the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities or may require adjustment for investment-specific factors or restrictions. Generally, the Company does not adjust any of the prices received from these sources but material prices are reviewed against the Company's valuation models with a limited exception for securities that are deemed to have no value. The Company evaluates the prices obtained from brokers and pricing vendors based on available market information, including trading activity of the subject or similar securities or by performing a comparable security analysis to ensure that fair values are reasonably estimated. The Company may also perform back-testing of valuation information obtained from brokers and pricing vendors against actual prices received in transactions to validate pricing discrepancies. In addition to on-going monitoring and back-testing, the Company performs due diligence procedures over pricing vendors to understand their methodology and controls to support their use in the valuation process and to ensure compliance with required accounting disclosures.
	Fair Value of Financial Instruments Held by the Company and Consolidated Funds
	The tables below summarize the valuation of investments and other financial instruments by fair value hierarchy levels for the Company and Consolidated Funds as of March 31, 2015:
	Investments and Derivatives of the Company
			Level I			Level II			Level III			Total
	Investments, at fair value
	Equity securities		$	95		$	—		$	—		$	95
	Bonds			—			1,178			—			1,178
	Partnership interests			—			—			193,473			193,473
	Total investments, at fair value			95			1,178			193,473			194,746
	Derivative assets, at fair value
	Forward foreign currency contracts			—			8,217			—			8,217
	Total derivative assets, at fair value			—			8,217			—			8,217
	Total		$	95		$	9,395		$	193,473		$	202,963
	Derivative liabilities, at fair value
	Forward foreign currency contracts		$	—		$	(1,995	)	$	—		$	(1,995	)
	Interest rate contracts			—			(978	)		—			(978	)
	Total derivative liabilities, at fair value		$	—		$	(2,973	)	$	—		$	(2,973	)
	Investments and Derivatives of Consolidated Funds
			Level I			Level II			Level III			Total
	Investments, at fair value
	Equity securities		$	609,982		$	573,582		$	3,321,849		$	4,505,413
	Bonds			—			909,652			551,906			1,461,558
	Loans			—			11,742,281			584,377			12,326,658
	Collateralized loan obligations			—			—			528,180			528,180
	Partnership interests			—			—			167,985			167,985
	Other			—			—			1,149			1,149
	Total investments, at fair value			609,982			13,225,515			5,155,446			18,990,943
	Derivative assets, at fair value
	Foreign exchange contracts			—			873			—			873
	Purchased options			—			890			—			890
	Other			—			1,933			—			1,933
	Total derivative assets, at fair value			—			3,696			—			3,696
	Total		$	609,982		$	13,229,211		$	5,155,446		$	18,994,639
	Derivative liabilities, at fair value
	Credit contracts		$	—		$	(11,716	)	$	—		$	(11,716	)
	Foreign exchange contracts			—			(9,411	)		—			(9,411	)
	Other			—			—			(38,356	)		(38,356	)
	Total derivative liabilities, at fair value			—			(21,127	)		(38,356	)		(59,483	)
	Loan obligations of CLOs			—			—			(12,154,677	)		(12,154,677	)
	Securities sold short, at fair value			—			(3,763	)		—			(3,763	)
	Total		$	—		$	(24,890	)	$	(12,193,033	)	$	(12,217,923	)
	The tables below summarize the valuation of investments and other financial instruments by fair value hierarchy levels for the Company and Consolidated Funds as of December 31, 2014:
	Investments and Derivatives of the Company
			Level I			Level II			Level III			Total
	Investments, at fair value
Equity securities		$	89		$	—		$	—		$	89
Bonds			—			1,178			—			1,178
Partnership interests			—			—			169,057			169,057
Total investments, at fair value			89			1,178			169,057			170,324
Derivative assets, at fair value
Forward foreign currency contracts			—			5,721			—			5,721
Purchased option contracts			—			1,902			—			1,902
Total derivative assets, at fair value			—			7,623			—			7,623
Total		$	89		$	8,801		$	169,057		$	177,947
Derivative liabilities, at fair value
Forward foreign currency contracts		$	—		$	(2,003	)	$	—		$	(2,003	)
Interest rate contracts			—			(847	)		—			(847	)
Total derivative liabilities, at fair value		$	—		$	(2,850	)	$	—		$	(2,850	)
Investments and Derivatives of Consolidated Funds
		Level I			Level II			Level III			Total
Investments, at fair value
Equity securities		$	590,095		$	513,771		$	3,263,311		$	4,367,177
Bonds			—			1,113,103			565,634			1,678,737
Loans			—			11,312,518			1,070,494			12,383,012
Collateralized loan obligations			—			—			556,267			556,267
Partnership interests			—			—			137,272			137,272
Other			—			336			1,149			1,485
Total investments, at fair value			590,095			12,939,728			5,594,127			19,123,950
Derivative assets, at fair value
Foreign exchange contracts			—			2,070			—			2,070
Other			—			1,056			—			1,056
Total derivative assets, at fair value			—			3,126			—			3,126
Total		$	590,095		$	12,942,854		$	5,594,127		$	19,127,076
Derivative liabilities, at fair value
Forward foreign currency contracts		$	—		$	(6,906	)	$	—		$	(6,906	)
Credit contracts			—			(13,263	)		—			(13,263	)
Interest rate swaps			—			(21	)		—			(21	)
Other			—			—			(22,142	)		(22,142	)
Total derivative liabilities, at fair value			—			(20,190	)		(22,142	)		(42,332	)
Loan obligations of CLOs(1)			—			—			(12,049,019	)		(12,049,019	)
Securities sold short, at fair value			—			(3,763	)		—			(3,763	)
Total		$	—		$	(23,953	)	$	(12,071,161	)	$	(12,095,114	)
-1	Ares Enhanced Loan Investment Strategy II, Ltd. ("AELIS II") had not elected to fair value its loan obligation and was therefore carried at cost of $151 through December 31, 2014, after which AELIS II was deconsolidated.
The following tables set forth a summary of changes in the fair value of the Level III investments for the three months ended March 31, 2015:
Investments and Derivatives of the Company
		Partnership
		Interests
Balance, beginning of period		$	169,057
Purchases(1)			30,516
Sales(2)			(7,916	)
Realized and unrealized appreciation (depreciation), net			1,816
Balance, end of period		$	193,473
Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date		$	1,947
Investments and Derivatives of Consolidated Funds
		Equity			Fixed			Partnership			Other			Total
		Securities			Income			Interests			Financial
											Instruments
Balance, beginning of period		$	3,263,311		$	2,192,395		$	137,272		$	(20,993	)	$	5,571,985
Deconsolidation of funds(3)			(471	)		(1	)		—			—			(472	)
Transfer in			—			189,684			—			—			189,684
Transfer out			(163	)		(651,403	)		—			—			(651,566	)
Purchases(1)			—			159,797			39,582			8			199,387
Sales(2)			(20,273	)		(171,391	)		(15,155	)		211			(206,608	)
Accrued discounts/premiums			4,135			(756	)		—			(1,309	)		2,070
Realized and unrealized appreciation (depreciation), net			75,310			(53,862	)		6,286			(15,124	)		12,610
Balance, end of period		$	3,321,849		$	1,664,463		$	167,985		$	(37,207	)	$	5,117,090
Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date		$	62,677		$	(35,936	)	$	6,239		$	(18,511	)	$	14,469
-1	Purchases include paid-in-kind interest and securities received in connection with restructurings.
-2	Sales include paid-in-kind interest, principal redemptions and securities disposed of in connection with restructurings.
-3	Represents investment in Consolidated Fund that was deconsolidated during the period. Balance was previously eliminated upon consolidation and not reported as Level III investment.
The following tables set forth a summary of changes in the fair value of the Level III investments for the three months ended March 31, 2014:
Investments and Derivatives of the Company
		Partnership
		Interests
Balance, beginning of period		$	88,177
Investment in deconsolidated fund(1)			9,951
Purchases(2)			21,504
Sales(3)			(23,124	)
Realized and unrealized appreciation (depreciation), net			23,834
Balance, end of period		$	120,342
Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date		$	4,286
Investments and Derivatives of Consolidated Funds
		Equity			Fixed			Partnership			Other			Total
		Securities			Income			Interests			Financial
											Instruments
Balance, beginning of period		$	2,958,232		$	3,627,153		$	41,001		$	(1,348	)	$	6,625,038
Deconsolidation of previous funds(1)			8,152			(378,397	)		—			—			(370,245	)
Transfer in			—			222,382			—			—			222,382
Transfer out			—			(364,608	)		—			—			(364,608	)
Purchases(2)			11,337			215,514			2,276			5			229,132
Sales(3)			(167,142	)		(274,491	)		—			(6,387	)		(448,020	)
Accrued discounts/premiums			15			10,849			—			—			10,864
Realized and unrealized appreciation (depreciation), net			14,627			(29,540	)		717			3,277			(10,919	)
Balance, end of period		$	2,825,221		$	3,028,862		$	43,994		$	(4,453	)	$	5,893,624
Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date		$	118,757		$	(21,711	)	$	717		$	1,102		$	98,865
-1	Represents investment in Consolidated Fund that was deconsolidated during the period. Balance was previously eliminated upon consolidation and not reported as Level III investment.
-2	Purchases include paid-in-kind interest and securities received in connection with restructurings.
-3	Sales include paid-in-kind interest, principal redemptions and securities disposed of in connection with restructurings.
Total realized and unrealized appreciation (depreciation) recorded for the Company's Level III investments are included in net realized gain (loss) on investments and net change in unrealized appreciation (depreciation) on investments in the Condensed Consolidated Statements of Operations, respectively.
Total realized and unrealized appreciation (depreciation) recorded for the Consolidated Funds' Level III investments are included in net realized gain (loss) on investments of Consolidated Funds and net change in unrealized appreciation (depreciation) on investments of Consolidated Funds in the Condensed Consolidated Statements of Operations, respectively.
The Company recognizes transfers between the levels as of the beginning of the period. Transfers out of Level III were generally attributable to certain investments that experienced a more significant level of market activity during the period and thus were valued using observable inputs either from independent pricing services or multiple brokers. Transfers into Level III were generally attributable to certain investments that experienced a less significant level of market activity during the period and thus were only able to obtain one or fewer quotes from a broker or independent pricing service. For the three months ended March 31, 2015, there are no transfers between Level I and Level II.
The following table sets forth a summary of changes in the fair value of the Level III investments for the CLO loan obligations for the three months ended March 31, 2015 and 2014:
		For the three months ended
		March 31,
		2015			2014
Balance, beginning of period		$	12,049,019		$	11,534,956
Deconsolidation of funds			(571	)		(3,033	)
Borrowings			602,074			23,528
Paydowns(1)			(218,496	)		(472,434	)
Realized and unrealized gains, net			(277,349	)		(16,764	)
Balance, end of period		$	12,154,677		$	11,066,253
-1	Amounts include distributions made to Subordinated Notes equity holders.
The following tables summarize the quantitative inputs and assumptions used for the Company's Level III inputs as of March 31, 2015:
Investments		Fair			Valuation Technique(s)		Unobservable		Range
		Value					Input(s)
Assets
Partnership interests		$	143,125		NAV		N/A		N/A
Partnership interests			50,348		Recent Transaction Price(1)		N/A		N/A
Total		$	193,473
-1	Recent transaction price consists of securities purchased or restructured within six months. The Company has determined that there has been no change to the valuation based on the underlying assumptions used at the closing of such transactions.
The following tables summarize the quantitative inputs and assumptions used for the Consolidated Funds' Level III inputs as of March 31, 2015:
Investments		Fair Value			Valuation Technique(s)		Unobservable Input(s)		Range		Weighted
											Average
Assets
Equity securities
Consumer discretionary			3,678		EV market multiple analysis		EBITDA multiple		9.4x		9.4x
		$
			219,945		Market approach (comparable companies)		Book value multiple		1.8x - 2.0x		1.9x
			2,175,607		Market approach (comparable companies)		EBITDA multiple		8.5x - 15.0x		10.8x
			711		Other		Future distribution estimates		82.40%		82.40%
			4,236		Other		Illiquidity discount		15.00%		15.00%
Consumer staples			895		EV market multiple analysis		EBITDA multiple		7.9x		7.9x
			14,492		Market approach (comparable companies)		EBITDA multiple		7.0x		7.0x
			41,561		Market approach (comparable companies)(2)		Net income multiple		11.0x		11.0x
Energy			68,000		Discounted Cash Flow		Discount rate		8.00%		8.00%
							EBITDA multiple		6.0x		6.0x
Financials			9,171		EV market multiple analysis		EBITDA multiple		10.5x		10.5x
Healthcare, education, and childcare			26,455		EV market multiple analysis		EBITDA multiple		1.6x - 7.1x		4.5x
			532,156		Market approach (comparable companies)		EBITDA multiple		8.0x - 13.0x		11.1x
			32,598		Market approach (comparable companies)		Net income multiple		35.0x		35.0x
Industrials			124,682		Market approach (comparable companies)		EBITDA multiple		8.0x - 12.0x		9.8x
Materials			52,947		Market approach (comparable companies)		Net income multiple		9.0x		9.0x
Telecommunication services			593		Recent transaction price(1)		N/A		N/A		N/A
			460		EV market multiple analysis		EBITDA multiple		10.0x		10.0x
Utilities			13,662		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Fixed Income securities
Consumer discretionary			196,267		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			17,339		EV market multiple analysis		EBITDA multiple		8.0x - 13.5x		12.8x
			59,299		Income approach (other)		Yield		2.5% - 13.0%		11.90%
			122,543		Market approach (comparable companies)		Book value multiple		1.7x - 2.0x		1.9x
			5,265		Recent transaction price(1)		N/A		N/A		N/A
Consumer staples			493		Discounted cash flow		Discount Rate		20.00%		20.00%
			1,202		Market approach (comparable companies)		EBITDA multiple		6.5x		6.5x
Financials			527,998		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			5,274		Discounted cash flow		Discount rate and Cumulative loss rate		16.6% / 8.4%		16.6% / 8.4%
			37,927		Discounted cash flow		Discount rate		11.50%		11.50%
							Constant prepayment rate		0.0% - 50.0%		21.30%
							Constant default rate		2.0% - 10.0%		2.10%
							Recovery rate		10.0% - 80.0%		73.20%
			2,256		Income Approach (Other)		Cash flow % of book value		8.70%		8.70%
			247,584		Income Approach (Other)		Yield		9.5% - 11.5%		10.50%
			7,959		Recent transaction price(1)		N/A		N/A		N/A
Healthcare, education, and childcare			40,891		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			19,527		EV market multiple analysis		EBITDA multiple		1.6x - 7.1x		5.6x
			24,605		Income approach (Other)		Yield		6.00%		5.80%
Industrials			102,659		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			28,052		Income approach (other)		Yield		5.3% - 13.3%		10.80%
			32,315		Market approach (comparable companies)		EBITDA multiple		9.0x - 12.0x		10.5x
Information technology			6,837		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Materials			142,374		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Telecommunication services			35,797		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Partnership and LLC interests			149,339		NAV		N/A		N/A		N/A
Financials			3,807		NAV		N/A		N/A		N/A
			14,839		Discounted Cash Flow		Constant default rate		9.90%		9.90%
							Constant prepayment rate		10.00%		10.00%
							Recovery rate		30.00%		30.00%
Other
Healthcare, education, and childcare			1,084		Market approach (comparable companies)		EBITDA multiple		8.8x		8.8x
Industrials			65		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Total assets			5,155,446
		$
Liabilities
Loans payable of Consolidated Funds:
Fixed income			11,733,481		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
		$
			353,248		Discounted cash flow		Discount rate		12.0% - 15.0%%		13.00%
							Constant prepayment rate		0.0% - 50.0%		20.00%
							Constant default rate		2.0% - 10.0%		2.00%
							Recovery rate		10.0% - 80.0%		75.00%
			67,948		Discounted cash flow		Discount margin		5.3% - 6.8%		6.10%
							Constant prepayment rate		0% - 50.0%		20.00%
							Constant default rate		2.0% - 10.0%		2.00%
							Recovery rate		10.0% - 80.0%		75.00%
Derivatives instruments of Consolidated Funds			38,356		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Total liabilities			12,193,033
		$
-1	Recent transaction price consists of securities purchased or restructured within the last six months. The Company has determined that there has been no change to the valuation based on the underlying assumptions used at the closing of such transactions.
-2	Valuation technique above includes a 30% liquidity discount on an investment held by a fund within the Private Equity Group.
The following tables summarize the quantitative inputs and assumptions used for the Company's Level III inputs as of December 31, 2014:
Investments		Fair			Valuation Technique(s)		Unobservable		Range
		Value					Input(s)
Assets
Partnership interests		$	123,709		NAV		N/A		N/A
Partnership interests			45,348		Recent Transaction Price(1)		N/A		N/A
Total		$	169,057
-1	Recent transaction price consists of securities purchased or restructured within six months. The Company has determined that there has been no change to the valuation based on the underlying assumptions used at the closing of such transactions.
The following tables summarize the quantitative inputs and assumptions used for the Consolidated Funds' Level III inputs as of December 31, 2014:
Investments		Fair Value			Valuation Technique(s)		Unobservable Input(s)		Range		Weighted
											Average
Assets
Equity securities
Consumer discretionary		$	2,940		EV market multiple analysis		EBITDA multiple		9.4x		9.4x
			208,498		Market approach (comparable companies)		Book value multiple		1.7x - 2.0x		1.9x
			2,121,864		Market approach (comparable companies)		EBITDA multiple		7.0x - 15.0x		10.7x
			979		Other		Future distribution estimates		18.7x		18.7x
			5,140		Other		Illiquidity discount		15.00%		15.00%
Consumer staples			862		EV market multiple analysis		EBITDA multiple		7.9x		7.9x
			10,349		Market approach (comparable companies)		EBITDA multiple		7.0x		7.0x
			44,553		Market approach (comparable companies)(2)		Net income multiple		11.0x		11.0x
Energy			136,045		Discounted Cash Flow		Discount rate		9.00%		9.00%
							EBITDA multiple		7.5x		7.5x
Financials			8,272		EV market multiple analysis		EBITDA multiple		10.5x		10.5x
Healthcare, education, and childcare			27,774		EV market multiple analysis		EBITDA multiple		1.6x - 7.1x		5.4x
			463,075		Market approach (comparable companies)		EBITDA multiple		8.0x - 13.0x		11.2x
			33,610		Market approach (comparable companies)		Net income multiple		35.0x		35.0x
Industrials			76		Recent transaction price(1)		N/A		N/A		N/A
			128,182		Market approach (comparable companies)		EBITDA multiple		8.0x - 12.0x		9.8x
Materials			52,947		Market approach (comparable companies)		Net income multiple		9.0x		9.0x
Telecommunication services			331		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			533		EV market multiple analysis		EBITDA multiple		10.0x		10.0x
Utilities			17,281		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Fixed Income securities
Consumer discretionary			256,994		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			18,205		EV market multiple analysis		EBITDA multiple		9.0x - 11.0x		9.3x
			69,418		Income approach (other)		Yield		2.5% - 18.7%		12.80%
			120,658		Market approach (comparable companies)		Book value multiple		1.7x - 2.0x		1.9x
			15,400		Market approach (comparable companies)		EBITDA multiple		7.5x		7.5x
			5,923		Recent transaction price(1)		N/A		N/A		N/A
Consumer staples			540		Discounted cash flow		Discount Rate		20.00%		20.00%
			776		Market approach (comparable companies)		EBITDA multiple		6.5x		6.5x
			28,965		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Energy			33,687		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Financials			470,417		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			8,551		Discounted cash flow		Discount rate and Cumulative loss rate		13.3% / 10.0%		13.3% / 10.0%
			85,851		Discounted cash flow		Discount rate		11.50%		11.50%
							Constant prepayment rate		0.0% - 50.0%		21.50%
							Constant default rate		2.0% - 10.0%		2.20%
							Recovery rate		10.0% - 80.0%		73.80%
			2,541		Income Approach (Other)		Cash flow % of book value		8.70%		8.70%
			224,245		Income Approach (Other)		Yield		9.5% - 11.5%		10.50%
Healthcare, education, and childcare			168,371		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			20,104		EV market multiple analysis		EBITDA multiple		1.6x - 7.1x		5.6x
			25,549		Income approach (Other)		Yield		6.00%		6.00%
Industrials			196,725		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			43,614		Income approach (other)		Yield		2.5% - 13.5%		12.10%
			32,315		Market approach (comparable companies)		EBITDA multiple		9.0x - 12.0x		10.5x
Information technology			137,042		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Materials			212,022		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Telecommunication services			14,482		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Partnership and LLC interests			119,690		NAV		N/A		N/A		N/A
Financials			17,582		Recent transaction price(1)		N/A		N/A		N/A
Other
Healthcare, education, and childcare			1,084		Market approach (comparable companies)		EBITDA multiple		8.8x		8.8x
Industrials			65		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Total assets		$	5,594,127
Liabilities
Loans payable of Consolidated Funds:
Fixed income		$	11,273,923		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			499,305		Recent transaction price(1)		N/A		N/A		N/A
			258,096		Discounted cash flow		Discount rate		11.50%		11.50%
							Constant prepayment rate		0.0% - 50.0%		20.40%
							Constant default rate		2.0% - 10.0%		2.10%
							Recovery rate		10.0% - 80.0%		74.60%
			17,079		Discounted cash flow		Discount margin		300 - 800		482.5
							Constant prepayment rate		0% - 50.0%		23.00%
							Constant default rate		2.0% - 10.0%		2.00%
							Recovery rate		10.0% - 80.0%		75.00%
			616		Market approach (other)		Other		N/A		N/A
Derivatives instruments of Consolidated Funds			22,142		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Total liabilities		$	12,071,161
-1	Recent transaction price consists of securities purchased or restructured within the last six months. The Company has determined that there has been no change to the valuation based on the underlying assumptions used at the closing of such transactions.
-2	Valuation technique above includes a 30% liquidity discount on an investment held by a fund within the Private Equity Group.
The significant unobservable inputs used in the fair value measurement of the Company's investments in equity securities include earnings before interest, tax, depreciation and amortization ("EBITDA"), book value and net income multiples. Significant increase (decrease) in EBITDA, book value or net income multiples in isolation would result in a significantly higher (lower) fair value measurement.
The significant unobservable inputs used in the fair value measurement of the Company's investments in fixed income securities are EBITDA and book value multiples, discount rates, prepayment rates, recovery rates, and market yields. Significant increases (decreases) in EBITDA and book value multiples and recovery rates in isolation would result in a significantly higher (lower) fair value measurement. Significant increases (decreases) in prepayment rates and market yields in isolation would result in lower (higher) fair value measurements.
The significant unobservable inputs used in the fair value measurement of the Company's loans payable are discount rates, default rates, prepayment rates and other. Significant increases (decreases) in discount rates or default rates in isolation would result in a significantly lower (higher) fair value measurement.
For investments valued using NAV per share, a summary of fair value by segment along with the remaining unfunded commitment and any redemption restriction of such investments are presented below:
As of March 31, 2015
Strategy		Fair Value			Unfunded			Redemption
					Commitments			Restriction
Direct Lending Group		$	40,559		$	20,792			(1)(3)
Real Estate Group			59,541			87,311			-1
Tradable Credit Group			56,878			51,048			(1)(2)(3)
Private Equity Group			139,293			77,284			-1
Totals		$	296,271		$	236,435
As of December 31, 2014
Strategy		Fair Value			Unfunded			Redemption
					Commitments			Restriction
Direct Lending Group		$	30,501		$	26,854			(1)(3)
Real Estate Group			49,178			45,239			-1
Tradable Credit Group			52,001			7,420			(1)(2)(3)
Private Equity Group			111,719			97,194			-1
Totals		$	243,399		$	176,707
-1	Certain funds within these strategies are closed-ended and generally do not permit investors to redeem their interests. Distributions are received as the underlying investments are liquidated.
-2	Certain funds within these strategies are open-ended and subject to a lock-up period of nine months after the closing date, after which an investor has the right to withdraw its capital. Distributions are received as the underlying investments are liquidated.
-3	Certain funds within these strategies are separately managed investment vehicles, which may be redeemed only upon dissolution or liquidation of the fund at the discretion of a simple majority of investors. Distributions are received as the underlying investments are liquidated.

LOANS_HELD_AS_INVESTMENTS

LOANS HELD AS INVESTMENTS	3 Months Ended
	Mar. 31, 2015
LOANS HELD AS INVESTMENTS
LOANS HELD AS INVESTMENTS	6. LOANS HELD AS INVESTMENTS
	Fair Value Disclosure of Financial Instruments Reported at Cost
	The following tables present the estimated fair value and carrying value of the Consolidated Fund's loans held as investments that are carried at cost, less an allowance for loan losses aggregated by the level in the fair value hierarchy as of March 31, 2015 and December 31, 2014:
	As of March 31, 2015
		Level I			Level II		Level III		Total		Carrying
											Value
	Loans held for investments	$	—		$	—	$	86,518	$	86,518	$	85,214
	As of December 31, 2014
		Level I			Level II		Level III		Total		Carrying
											Value
	Loans held for investments	$	—		$	—	$	78,895	$	78,895	$	77,514
	A summary of activity in loans held as investments for the three months ended March 31, 2015, is presented below:
	Balance at December 31, 2014	$	77,514
	Loan acquisition and origination		183,732
	Allowance for loan losses		(119	)
	Principal repayment		(176,069	)
	Amortization of loan origination fees		156
	Balance as of March 31, 2015	$	85,214
	The Consolidated Fund estimates the fair value of loans held as investments for fair value disclosures primarily using inputs such as the borrower's financial performance, discounted cash flow projections, interest rates available for borrowers with similar credit metrics, market comparables, if available, and other qualitative and quantitative factors. A summary of the changes in the allowance for loan losses is presented below:
	Balance at December 31, 2014	$	1,185
	Increase in allowance for loan losses		119
	Balance as of March 31, 2015	$	1,304
	Investment in loan receivables consists of outstanding unpaid principal balance of loans held as investments, net of allowance of loan losses, unamortized loan origination fees and deferred interest on non-accrual loans. A summary of the loan receivable balance is presented below:
	As of March 31, 2015
	Loan receivables—unpaid principal balance	$	86,921
	Unamortized loan origination fees		(235	)
	Deferred interest on non-accrual loans		(168	)
	Allowance for loan losses		(1,304	)
	Balance as of March 31, 2015	$	85,214
	As of December 31, 2014
	Loan receivables—unpaid principal balance	$	79,018
	Unamortized loan origination fees		(196	)
	Deferred interest on non-accrual loans		(123	)
	Allowance for loan losses		(1,185	)
	Balance as of December 31, 2014	$	77,514
	As of March 31, 2015, the Consolidated Fund had $151.1 million in loan commitment to it borrowers, of which $64.2 million remained undrawn. As of December 31, 2014, the Consolidated Fund had $155.1 million in loan commitment to it borrowers, of which $76.1 million remained undrawn.

DERIVATIVE_FINANCIAL_INSTRUMEN

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2015
DERIVATIVE FINANCIAL INSTRUMENTS
DERIVATIVE FINANCIAL INSTRUMENTS
	7. DERIVATIVE FINANCIAL INSTRUMENTS
	In the normal course of business, the Company and the Consolidated Funds are exposed to certain risks relating to their ongoing operations and use various types of derivative instruments primarily to mitigate against credit, foreign exchange and interest rate risk. The derivative instruments used by the Company and Consolidated Funds include warrants, currency options, purchased options, interest rate swaps, credit default swaps and forward contracts. The derivative instruments do not qualify for hedge accounting under the accounting standards for derivatives and hedging as the Company does not designate its derivatives as hedging instruments. The Company recognizes all of its derivative instruments at fair value as either assets or liabilities in the Condensed Consolidated Statements of Financial Condition.
	By using derivatives, the Company and the Consolidated Funds are exposed to counterparty credit risk if counterparties to the derivative contracts do not perform as expected. If a counterparty fails to perform, the Company's counterparty credit risk is equal to the amount reported as a derivative asset in the Condensed Consolidated Statements of Financial Condition. The Company minimizes counterparty credit risk through credit approvals, limits, monitoring procedures, executing master netting arrangements and obtaining collateral, where appropriate.
	To the extent the master netting arrangements and other criteria meet the applicable requirements, which includes determining the legal enforceability of the arrangements, the Company may choose to offset the derivative assets and liabilities in the same currency by specific derivative type, or in the event of default by the counterparty, offset derivative assets and liabilities with the same counterparty. The Company generally presents derivative and other financial instruments on a gross basis within the Condensed Consolidated Statements of Financial Condition, with certain instruments subject to enforceable master netting arrangements that could allow for the derivative and other financial instruments to be offset. The Consolidated Funds present derivative and other financial instruments, and any related cash collateral amounts, on both a gross and a net basis. This election is generally determined at management's discretion on a fund by fund basis. The Company has retained each fund's presentation upon consolidation.
	Certain Consolidated Funds have entered into transactions where cash collateral is received and/or pledged with the counterparty. Generally, the collateral practices are governed within each agreement entered into between the Consolidated Funds and the respective counterparty. These agreements specify how the collateral will be handled between the two parties, and the terms of the agreements may dictate that the derivatives be marked to market on a daily basis (or other specified period) and that any collateral needs be met by posting collateral based upon certain financial thresholds and/or upon certain dates, after any applicable minimum thresholds are met. The collateral may also be required to be held in segregated accounts with a custodian in compliance with the terms of the agreements.
	Qualitative Disclosures of Derivative Financial Instruments
	Derivative instruments are marked to market daily based upon quotations from pricing services or by the Company and the change in value, if any, is recorded as a net change in unrealized appreciation (depreciation) on investments. Upon settlement of the instrument, the Company records net realized gain (loss) on investments in the Condensed Consolidated Statements of Operations.
	Following is a description of the significant derivative instruments utilized by the Company and the Consolidated Funds during the reporting periods.
	Forward Foreign Currency Contracts
	The Company and the Consolidated Funds enter into foreign currency forward exchange contracts to hedge against foreign currency exchange rate risk on certain non-U.S. dollar denominated cash flow. When entering into a forward currency contract, the Company and the Consolidated Funds agree to receive and/or deliver a fixed quantity of foreign currency for an agreed-upon price on an agreed-upon future date. Forward foreign currency contracts involve elements of market risk in excess of the amounts reflected in the Condensed Consolidated Statements of Financial Condition. The Company and the Consolidated Funds bear the risk of an unfavorable change in the foreign exchange rate underlying the forward foreign currency contract. In addition, the potential inability of the counterparties to meet the terms of their contracts poses a risk to the Company and the Consolidated Funds.
	Interest Rate Swaps
	The Company and the Consolidated Funds enter into interest rate swap contracts to mitigate their interest rate risk exposure to higher floating interest rates. Interest rate swaps represent an agreement between two counterparties to exchange cash flows based on the difference in two interest rates, applied to the notional principal amount for a specified period. The payment flows are generally netted, with the difference being paid by one party to the other. The interest rate swap contracts effectively mitigate the Company and the Consolidated Funds' exposure to interest rate risk by converting a portion of the Company and the Consolidated Funds' floating-rate debt to a fixed-rate basis.
	Credit Default Swaps
	The Consolidated Funds enter into credit default swap contracts for investment purposes and to manage credit risk. As a seller in a credit default swap contract, a Consolidated Fund is required to pay the notional or other agreed-upon value to the counterparty in the event of a default by a third party, either a U.S. or foreign corporate issuer (or an index of U.S. or foreign corporate issuers), on the referenced debt obligation. In return, the Consolidated Fund receives from the counterparty a periodic stream of payments over the term of the contract, provided that no event of default has occurred, and has no payment obligations.
	The Consolidated Funds may also purchase credit default swap contracts to mitigate the risk of default by issuers of debt securities held. In these cases, the Consolidated Fund functions as the counterparty referenced in the preceding paragraph. As a purchaser of a credit default swap contract, the Consolidated Fund receives the notional or other agreed upon value from the counterparty in the event of default by a third party, either a U.S. or foreign corporate issuer (or an index of U.S. or foreign corporate issuers) on the referenced debt obligation. In return, the Consolidated Fund makes periodic payments to the counterparty over the term of the contract provided no event of default has occurred.
	Entering into credit default swaps exposes the Consolidated Funds to credit, market and documentation risk in excess of the related amounts recognized in the Condensed Consolidated Statements of Financial Condition. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreements may default on its obligations to perform or disagree as to the meaning of the contractual terms in the agreements, and that there will be unfavorable changes in net interest rates.
	Quantitative Disclosures of Derivative Financial Instruments
	The following tables identify the fair value and notional amounts of derivative contracts by major product type on a gross basis for the Company and the Consolidated Funds as of March 31, 2015 and December 31, 2014. These amounts may be offset (to the extent that there is a legal right to offset) and presented on a net basis in derivative assets or derivative liabilities in the Condensed Consolidated Statements of Financial Condition:
			As of March 31, 2015
			Assets						Liabilities
	The Company		Notional(1)			Fair Value			Notional(1)			Fair Value
	Interest rate contracts		$	—		$	—		$	250,000		$	978
	Foreign exchange contracts			102,217			8,217			65,341			1,995
	Total derivatives, at fair value		$	102,217		$	8,217		$	315,341		$	2,973
			As of March 31, 2015
			Assets						Liabilities
	Consolidated Funds		Notional(1)			Fair Value			Notional(1)			Fair Value
	Interest rate contracts		$	37,000		$	—		$	—		$	—
	Credit contracts			101,000			1,153			223,756			11,716
	Foreign exchange contracts			40,330			1,652			152,983			9,411
	Other financial instruments			3,514			891			94,083			38,356
	Total derivatives, at fair value			181,844			3,696			470,822			59,483
	Other—equity(2)			3,706			4,429			—			—
	TOTAL		$	185,550		$	8,125		$	470,822		$	59,483
	-1	Represents the total contractual amount of derivative assets and liabilities outstanding.
	-2	Includes the fair value of warrants and equity distribution rights which are presented within investments, at fair value in the Condensed Consolidated Statements of Financial Condition.
			As of December 31, 2014
			Assets						Liabilities
	The Company		Notional(1)			Fair Value			Notional(1)			Fair Value
	Interest rate contracts		$	—		$	—		$	250,000		$	847
	Foreign exchange contracts			161,890			7,623			102,231			2,003
	Total derivatives, at fair value		$	161,890		$	7,623		$	352,231		$	2,850
			As of December 31, 2014
			Assets						Liabilities
	Consolidated Funds		Notional(1)			Fair Value			Notional(1)			Fair Value
	Interest rate contracts		$	34,000		$	0		$	10,000		$	21
	Credit contracts			—			—			385,296			13,265
	Foreign exchange contracts			43,303			2,070			207,577			9,991
	Other financial instruments			4,542			1,056			90,302			19,055
	Total derivatives, at fair value			81,845			3,126			693,175			42,332
	Other—equity(2)			79,551			3,866			—			—
	TOTAL		$	161,396		$	6,992		$	693,175		$	42,332
	-1	Represents the total contractual amount of derivative assets and liabilities outstanding.
	-2	Includes the fair value of warrants and equity distribution rights which are presented within investments, at fair value in the Condensed Consolidated Statements of Financial Condition.
	The following tables present a summary of net realized gain (loss) and unrealized appreciation (depreciation) on derivative instruments for the three months ended March 31, 2015 and 2014, and the corresponding line item where these changes are presented within the Condensed Consolidated Statements of Operations:
			For the three months ended March 31, 2015
	The Company		Interest Rate			Foreign			Total
			Contracts			Exchange
						Contracts
	Net realized gain (loss) on investments
	Purchased options		$	—		$	2,022		$	2,022
	Swaps			(337	)		—			(337	)
	Foreign currency forward contracts			—			5,116			5,116
Net realized gain (loss) on investments		$	(337	)	$	7,138		$	6,801
Net change in unrealized appreciation (depreciation) on investments
Purchased options		$	—		$	(1,057	)	$	(1,057	)
Swaps			(131	)		—			(131	)
Foreign currency forward contracts			—			2,504			2,504
Total net change in unrealized appreciation (depreciation) on investments		$	(131	)	$	1,447		$	1,316
		For the three months ended March 31, 2015
Consolidated Funds		Interest Rate			Credit			Equity			Foreign			Other			Total
		Contracts			Contracts			Contracts			Exchange
											Contracts
Net realized gain (loss) on investments of Consolidated Funds
Purchased options		$	—		$	—		$	(2,582	)	$	—		$	—		$	(2,582	)
Swaps			(135	)		(9,449	)		—			—			(1,146	)		(10,730	)
Foreign currency forward contracts			—			—			—			3,190			—			3,190
Total net realized gain (loss) on investments of Consolidated Funds		$	(135	)	$	(9,449	)	$	(2,582	)	$	3,190		$	(1,146	)	$	(10,122	)
Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds
Purchased options		$	—		$	—		$	(191	)	$	7		$	—		$	(184	)
Swaps			135			(113	)		—			—			2,082			2,104
Warrants(1)			—			—			40			—			—			40
Foreign currency forward contracts			—			—			—			(434	)		—			(434	)
Total net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		$	135		$	(113	)	$	(151	)	$	(427	)	$	2,082		$	1,526
-1	Realized and unrealized gains (losses) on warrants are also reflected in the changes presented within investments, at fair value of the Consolidated Funds in the Condensed Consolidated Statements of Financial Condition.
		For the three months ended
		March 31, 2014
The Company		Interest Rate			Foreign			Total
		Contracts			Exchange
					Contracts
Net realized gain (loss) on investments
Swaps		$	(341	)	$	—		$	(341	)
Foreign currency forward contracts			—			(793	)		(793	)
Net realized gain (loss) on investments		$	(341	)	$	(793	)	$	(1,134	)
Net change in unrealized appreciation (depreciation) on investments
Purchased options		$	—		$	(61	)	$	(61	)
Swaps			57			—			57
Foreign currency forward contracts			—			(63	)		(63	)
Total net change in unrealized appreciation (depreciation) on investments		$	57		$	(124	)	$	(67	)
		For the three months ended March 31, 2014
Consolidated Funds		Interest Rate			Credit			Equity			Foreign			Other			Total
		Contracts			Contracts			Contracts			Exchange
											Contracts
Net realized gain (loss) on investments of Consolidated Funds
Purchased options		$	—		$	—		$	(2,019	)	$	(273	)	$	—		$	(2,292	)
Written options			—			—			—			1,853			—			1,853
Swaps			(514	)		(10,206	)		—			—			3,546			(7,174	)
Warrants(1)			—			—			1,261			—			—			1,261
Foreign currency forward contracts			—			—			—			(17,888	)		—			(17,888	)
Total net realized gain (loss) on investments of Consolidated Funds		$	(514	)	$	(10,206	)	$	(758	)	$	(16,308	)	$	3,546		$	(24,240	)
Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds
Purchased options		$	—		$	—		$	108		$	(1,663	)	$	(113	)	$	(1,668	)
Written options			—			—			—			(1,214	)		—			(1,214	)
Swaps			(342	)		3,476			—			(15	)		(3,591	)		(472	)
Interest rate caps/floor			(4	)		—			—			—			—			(4	)
Warrants(1)			—			—			(7,180	)		—			—			(7,180	)
Foreign currency forward contracts			(22	)		—			1,222			17,142			—			18,342
Total net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		$	(368	)	$	3,476		$	(5,850	)	$	14,250		$	(3,704	)	$	7,804
-1	Realized and unrealized gains (losses) on warrants are also reflected in the changes presented within investments in the Condensed Consolidated Statements of Financial Condition.
The table below sets forth the rights of setoff and related arrangements associated with the Company's derivative and other financial instruments as of March 31, 2015 and December 31, 2014. The column titled "Gross Amounts Not Offset in the Statement of Financial Position" in the table below relates to derivative instruments that are eligible to be offset in accordance with applicable accounting guidance but for which management has elected not to offset in the Condensed Consolidated Statements of Financial Condition.
Derivative and Other Instruments of the Company as of March 31, 2015
											Gross Amounts
											Not Offset in
											the Statement
		Gross			Gross						of Financial
		Amounts of			Amounts						Position
		Recognized			Offset in
		Assets			Assets			Net Amounts
		(Liabilities)			(Liabilities)			of Assets
								(Liabilities)
								Presented			Financial			Net Amount
											Instruments
Assets:
Derivatives		$	8,217		$	—		$	8,217		$	1,995		$	6,222
Total			8,217			—			8,217			1,995			6,222
Liabilities:
Derivatives			(2,973	)		—			(2,973	)		(1,995	)		(978	)
Total			(2,973	)		—			(2,973	)		(1,995	)		(978	)
Grand Total		$	5,244		$	—		$	5,244		$	—		$	5,244
Derivative and Other Instruments of the Company as of December 31, 2014
											Gross Amounts
											Not Offset in
											the Statement
		Gross			Gross						of Financial
		Amounts of			Amounts						Position
		Recognized			Offset in
		Assets			Assets			Net Amounts
		(Liabilities)			(Liabilities)			of Assets
								(Liabilities)
								Presented			Financial			Net Amount
											Instruments
Assets:
Derivatives		$	7,623		$	—		$	7,623		$	1,056		$	6,567
Total			7,623			—			7,623			1,056			6,567
Liabilities:
Derivatives			(2,850	)		—			(2,850	)		(1,056	)		(1,794	)
Total			(2,850	)		—			(2,850	)		(1,056	)		(1,794	)
Grand Total		$	4,773		$	—		$	4,773		$	—		$	4,773
The table below sets forth the rights of setoff and related arrangements associated with the Consolidated Funds' derivative and other financial instruments as of March 31, 2015 and December 31, 2014. The column titled "Gross Amounts Not Offset in the Statement of Financial Position" in the table below relates to derivative instruments that are eligible to be offset in accordance with applicable accounting guidance but for which management has elected not to offset in the Condensed Consolidated Statements of Financial Condition.
Derivative and Other Instruments of the Consolidated Funds as of March 31, 2015
											Gross Amounts Not Offset
											in the Statement of
		Gross Amounts									Financial Position
		of
		Recognized Assets
		(Liabilities)			Gross Amounts			Net Amounts of			Financial			Cash Collateral			Net Amount
					Offset in Assets			Assets (Liabilities)			Instruments			Received
					(Liabilities)			Presented						(Pledged)
Assets:
Derivatives		$	4,877		$	1,181		$	3,696		$	727		$	(1,080	)	$	4,049
Reverse repurchase, securities borrowing, and similar arrangements(1)			4,150			—			4,150			—			—			4,150
Total			9,027			1,181			7,846			727			(1,080	)		8,199
Liabilities:
Derivatives			(60,664	)		(1,181	)		(59,483	)		(727	)		(11,119	)		(47,637	)
Total			(60,664	)		(1,181	)		(59,483	)		(727	)		(11,119	)		(47,637	)
Grand Total		$	(51,637	)	$	—		$	(51,637	)	$	—		$	(12,199	)	$	(39,438	)
Derivative and Other Instruments of the Consolidated Funds as of December 31, 2014
											Gross Amounts Not Offset
											in the Statement of
		Gross Amounts									Financial Position
		of
		Recognized Assets
		(Liabilities)			Gross Amounts			Net Amounts of			Financial			Cash Collateral			Net Amount
					Offset in Assets			Assets (Liabilities)			Instruments			Received
					(Liabilities)			Presented						(Pledged)
Assets:
Derivatives		$	4,940		$	1,814		$	3,126		$	989		$	(2,295	)	$	4,432
Reverse repurchase, securities borrowing, and similar arrangements(1)			4,150			—			4,150			—			—			4,150
Total			9,090			1,814			7,276			989			(2,295	)		8,582
Liabilities:
Derivatives			(44,146	)		(1,814	)		(42,332	)		(989	)		(12,386	)		(28,957	)
Total			(44,146	)		(1,814	)		(42,332	)		(989	)		(12,386	)		(28,957	)
Grand Total		$	(35,056	)	$	—		$	(35,056	)	$	—		$	(14,681	)	$	(20,375	)
-1	Included within investments, at fair value in the Condensed Consolidated Statements of Financial Condition.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2015
DEBT
DEBT
	8. DEBT
	Debt represents the (a) Company's Credit Facility (as defined below), (b) senior notes of Ares Finance Co. LLC, a wholly owned subsidiary of Ares Holdings, (c) loan obligations of the consolidated CLOs and (d) credit facilities of the Consolidated Funds. The Company has elected to measure the loan obligations of the consolidated CLOs at fair value and reflect the credit facilities of the Company and Consolidated Funds at cost.
	Credit Facility of the Company
	The Company is party to a $1.03 billion revolving credit facility (the "Credit Facility"), which matures on April 30, 2019. Interest rates are dependent upon corporate credit ratings. Base rate loans bear interest calculated based on the base rate plus 0.50% and LIBOR rate loans bear interest calculated based on LIBOR rate plus 1.50%. Unused commitment fees are payable quarterly in arrears at a rate of 0.20% per annum. As of March 31, 2015 and December 31, 2014, the Company had an outstanding balance of $60.0 million and no balance outstanding, respectively, under the Credit Facility.
	At March 31, 2015, unamortized debt issuance costs of $5.0 million are included in the Condensed Consolidated Statements of Financial Condition as a deduction from the carrying value of the Credit Facility. At December 31, 2014, unamortized debt issuance costs of $5.3 million, incurred in connection with the October 29, 2013 and May 7, 2014 amendments of the Credit Facility were capitalized and are included in other assets in the Condensed Consolidated Statements of Financial Condition. For the three months ended March 31, 2015, $0.5 million in unused commitment fees, $0.2 million of interest and $0.3 million of amortization of debt issuance costs are included in interest expense in the Condensed Consolidated Statements of Operations. For the three months ended March 31, 2014, $0.4 million in unused commitment fees, $0.6 million of interest and $0.2 million of amortization of debt issuance costs are included in interest expense in the Condensed Consolidated Statements of Operations.
	Senior Notes of the Company
	On October 8, 2014, Ares Finance Co. LLC, a subsidiary of the Company, issued $250.0 million aggregate principal amount of 4.000% senior notes (the "Notes") due October 8, 2024, at 98.268% of the face amount. The Notes are fully and unconditionally guaranteed by the Company, AHI, Domestic Holdings, Ares Real Estate Holdings LLC, Ares Holdings, Ares Domestic Holdings, Ares Investments, Ares Real Estate, AM LLC and AIH LLC. Interest is payable semi-annually on April 8 and October 8 each year, commencing on April 8, 2015. The Notes may be redeemed prior to maturity at the Company's option at a redemption price equal to the greater of 100% of the principal amount to be redeemed and a "make-whole" redemption price, plus accrued and unpaid interest to the redemption date; however, Ares Finance Co. LLC is not required to pay any "make-whole" on or after July 8, 2024. Debt issuance costs of $2.4 million are amortized on a straight line basis over the life of the Notes. The discount of $4.3 million is amortized using the effective interest rate over the life of the Notes.
	As of March 31, 2015 and December 31, 2014, the Company had $243.6 million and $245.8 million, respectively, reported within debt obligations on the Condensed Consolidated Statements of Financial Condition. The effective annual interest rate of the Notes is 4.21%. Unamortized debt issuance costs were $2.2 million and $2.3 million as of March 31, 2015 and December 31, 2014, respectively, and are shown as a deduction from the carrying value of the debt balance reported in the Condensed Consolidated Statements of Financial Condition. Interest expense of $3.7 million, including $0.4 million from the amortization of debt issuance costs, is included in interest expense in the Condensed Consolidated Statements of Financial Operations for the three months ended March 31, 2015.
	Loan Obligations of the Consolidated CLOs
	Loan obligations of the Consolidated Funds that are CLOs ("Consolidated CLOs") represent amounts due to holders of debt securities issued by the Consolidated CLOs. Several of the Consolidated CLOs issued preferred shares representing the subordinated interests that are mandatorily redeemable upon the maturity dates of the senior secured loan obligations. As a result, these shares have been classified as liabilities and are included in CLO loan obligations in the Condensed Consolidated Statements of Financial Condition.
	As of March 31, 2015 and December 31, 2014, the following loan obligations were outstanding and classified as liabilities:
			As of March 31, 2015
			Loan		Market Value of		Weighted Average
			Obligations		Loan Obligations		Remaining
							Maturity In Years
	Senior secured notes(1)		$	11,360,083	$	11,191,664		8.88
	Subordinated notes / preferred shares(2)			1,506,610		873,437		9.26
	Total loan obligations of Consolidated CLOs		$	12,866,693	$	12,065,101
	Type of Facility		Total Facility		Loan		Market Value of			Effective			Commitment			Maturity
			(Capacity)		Obligations		Loan Obligations			Rate			Fee			Date
	Revolvers of Consolidated CLOs
	Revolving credit line		$	42,806	$	42,806	$	42,676			0.51	%		0.17	%		7/16/20
	Revolving credit line			47,480		47,480		46,900			0.45	%		0.17	%		10/11/21
	Total revolvers of Consolidated CLOs					90,286		89,576
	Total notes payable and credit facilities of Consolidated CLOs				$	12,956,979	$	12,154,677
	-1	Weighted average interest rate of 2.67%.
	-2	The subordinated notes do not have contractual interest rates, but instead receive distributions from the excess cash flows generated by each Consolidated CLO.
			As of December 31, 2014
			Loan		Market Value of		Weighted Average
			Obligations		Loan Obligations		Remaining
							Maturity In Years
	Senior secured notes(1)		$	11,394,820	$	11,062,501		9.02
	Subordinated notes / preferred shares(2)			1,523,670		894,795		9.44
	Total loan obligations of Consolidated CLOs		$	12,918,490	$	11,957,296
	Type of Facility		Total Facility		Loan		Market Value of			Effective			Commitment			Maturity
			(Capacity)		Obligations		Loan Obligations			Rate			Fee			Date
	Revolvers of Consolidated CLOs
	Revolving credit line		$	44,113	$	44,113	$	43,980			0.49	%		0.17	%		4/16/21
	Revolving credit line			48,510		48,510		47,894			0.43	%		0.17	%		10/11/21
	Total revolvers of Consolidated CLOs					92,623		91,874
	Total notes payable and credit facilities of Consolidated CLOs				$	13,011,113	$	12,049,170
	-1	Weighted average interest rate of 2.62%.
	-2	The subordinated notes do not have contractual interest rates, but instead receive distributions from the excess cash flows generated by each Consolidated CLO.
	Loan obligations of the Consolidated CLOs are collateralized by the assets held by the Consolidated CLOs, consisting of cash and cash equivalents, corporate loans, corporate bonds and other securities. The assets of one Consolidated CLO may not be used to satisfy the liabilities of another Consolidated CLO. Loan obligations of the Consolidated CLOs include floating rate notes, deferrable floating rate notes, revolving lines of credit and subordinated notes. Amounts borrowed under the notes are repaid based on available cash flows subject to priority of payments under each Consolidated CLO's governing documents. The Company has elected to apply the fair value option to all of the loan obligations of the Consolidated CLOs, with the exception of the loan obligation of AELIS II, which was carried at cost in the historical financial statements to accommodate investor preference through December 31, 2014, after which AELIS II was deconsolidated.
	Credit Facilities of the Consolidated Funds
	Certain Consolidated Funds maintain credit facilities to fund investments between capital drawdowns. These facilities generally are collateralized by the unfunded capital commitments of the Consolidated Funds' limited partners, bear an annual commitment fee based on unfunded commitments and contain various affirmative and negative covenants and reporting obligations, including restrictions on additional indebtedness, liens, margin stock, affiliate transactions, dividends and distributions, release of capital commitments and portfolio asset dispositions. The creditors of these entities have no recourse to the Company. As of March 31, 2015 and December 31, 2014, the Consolidated Funds were in compliance with all financial and non-financial covenants under such credit facilities.
	The Consolidated Funds had the following revolving bank credit facilities and term loans outstanding as of March 31, 2015:
	Type of Facility		Total Facility		Outstanding		Effective		Commitment		Maturity
			(Capacity)		Loan(1)		Rate		Fee		Date
	Short-term borrowings of Consolidated Funds
	Credit facility		$	25,000	$	—	LIBOR + 1.75%		0.30%			6/6/15
	Credit facility			25,000		—	LIBOR + 2.00%		0.30%			6/30/15
	Total short-term borrowings of Consolidated
	Funds					—
	Long-term borrowings of Consolidated Funds
	Credit facility			18,000		4,459	1.81%		N/A			1/1/23
	Credit facility			150,000		48,500	LIBOR + 2.25%		0.25%			6/4/18
	Notes payable			1,500,000		630,605	LIBOR + 1.65%		0.75%			9/19/18
	Total long-term borrowings of Consolidated Funds					683,564
	Total borrowings of Consolidated Funds				$	683,564
	-1	The market values of the long term notes approximate the current carrying value that is tied to the LIBOR rate.
	The Consolidated Funds had the following revolving bank credit facilities and term loans outstanding as of December 31, 2014:
	Type of Facility		Total Facility		Outstanding		Effective		Commitment		Maturity
(Capacity)			Loan(1)		Rate	Fee	Date
Short-term borrowings of Consolidated Funds
Credit facility		$	25,000	$	—	LIBOR + 1.75%		0.30%			6/6/15
Credit facility			25,000		—	LIBOR + 2.00%		0.30%			6/30/15
Total short-term borrowings of Consolidated Funds					—
Long-term borrowings of Consolidated Funds
Credit facility			150,000		39,300	LIBOR + 2.25%		0.25%			6/4/18
Notes payable			1,500,000		731,983	LIBOR + 1.65%		0.75%			9/19/18
Total long-term borrowings of Consolidated Funds					771,283
Total borrowings of Consolidated Funds				$	771,283
-1	The market values of the long term notes approximate the current carrying value that is tied to the LIBOR rate.
Loan Obligations of the Consolidated Mezzanine Debt Funds
Loan obligations of consolidated mezzanine debt funds represent amounts due to holders of debt securities issued by Ares Institutional Loan Fund B.V. (the "AILF Master Fund"), a Netherlands limited liability company. The AILF Master Fund issued Class A, Class B and Class C participating notes that have equal rights and privileges, except with respect to management fees and the performance fee that are applicable to only the Class A participating notes. These participating notes are redeemable debt instruments that do not have a stated interest rate or fixed maturity date. The AILF Master Fund may cause any holders to redeem all or any portion of such notes at any time upon at least five days prior written notice for any reason or no reason. A participating note holder may withdraw all or some of its notes as of the last business day of each calendar month by providing at least 30 days prior written notice. The holders of these participating notes have the right to receive the AILF Master Fund's first gains and the obligation to absorb the AILF Master Fund's first losses. As of March 31, 2015 and December 31, 2014, outstanding loan obligations of the consolidated mezzanine debt funds were approximately $406.4 million and $378.4 million, respectively, and are presented as mezzanine debt in the Condensed Consolidated Statements of Financial Condition. The residual interests of the consolidated mezzanine debt funds are carried at cost plus accrued interest. The mezzanine funds are collateralized by all of the assets of the AILF Master Fund with no recourse to the Company.

REDEEMABLE_INTERESTS

REDEEMABLE INTERESTS	3 Months Ended
	Mar. 31, 2015
REDEEMABLE INTERESTS
REDEEMABLE INTERESTS
	9. REDEEMABLE INTERESTS
	The following table sets forth a summary of changes in the redeemable interests in Consolidated Funds and redeemable interests in Ares Operating Group entities as of March 31, 2015:
	Redeemable interests in Consolidated Funds
	Redeemable non-controlling interests in Consolidated Funds, beginning of period	$	1,037,450
	Contributions from redeemable, non-controlling interests in Consolidated Funds		122
	Distributions to redeemable, non-controlling interests in Consolidated Funds		(138,414	)
	Net income (loss) attributable to redeemable, non-controlling interests in Consolidated Funds		15,859
	Ending Balance	$	915,017
	Redeemable interests in Ares Operating Group Entities
	Beginning balance	$	23,988
	Reallocation of Partners' capital for change in ownership interest		81
	Deferred tax liabilities arising from allocation of contributions and Partners' capital		(1	)
	Distributions		(260	)
	Net income		243
	Currency translation adjustment		(7	)
	Equity compensation		33
	Ending Balance	$	24,077
	No additional components exist for the three months ended March 31, 2015 from those presented in the Condensed Consolidated Statement of Changes in Equity.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
	10. COMMITMENTS AND CONTINGENCIES
	Indemnification Arrangements
	Consistent with standard business practices in the normal course of business, the Company enters into contracts that contain indemnities for affiliates of the Company, persons acting on behalf of the Company or such affiliates and third parties. The terms of the indemnities vary from contract to contract and the Company's maximum exposure under these arrangements cannot be determined and has not been recorded in the Condensed Consolidated Statements of Financial Condition. As of March 31, 2015, the Company has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.
	Capital Commitments
	As of March 31, 2015 and December 31, 2014, the Company had aggregate unfunded commitments of $ 258.3 million and $ 187.9 million, of which $4.8 million and $5.6 million is contingent consideration recorded in relation to the acquisition of AREA Management Holdings, LLC, and is presented within accounts payable and accrued expenses in the consolidated statements of financial condition, respectively, including commitments to both non-consolidated funds and Consolidated Funds.
	Guarantees
	The Company guaranteed loans for certain professionals in affiliated co-investment entities. These entities were formed to permit certain employees and members to invest alongside the Company and its investors in the funds managed by the Company. The Company would be responsible for all outstanding payments due in the event of a default on the loans by certain professionals. As of March 31, 2015 and December 31, 2014, the total outstanding loan balance was approximately $2.7 million and $3.2 million with an additional $1.0 million and $1.1 million in unfunded commitments, respectively. There has been no history of default and the Company has determined that the likelihood of default is remote. These guarantees are not considered to be compensation.
	On July 30, 2014, AM LLC agreed to provide credit support to a new $75 million credit facility, (the "Guaranteed Facility") entered into by a wholly owned subsidiary of Ares Commercial Real Estate Corporation ("ACRE") with a national banking association. AM LLC is the parent entity to ACRE's external manager. In connection with the facility, AM LLC agreed to purchase all loans and other obligations outstanding under the Guaranteed Facility at a price equal to 100% of the outstanding balance (i) upon an acceleration or certain events of default by ACRE under the Guaranteed Facility or (ii) in the event that AM LLC's corporate credit rating is downgraded to below investment grade, among other things. ACRE pays AM LLC a credit support fee of 1.50% per annum times the average amount of the loans outstanding under the Guaranteed Facility, payable monthly, and reimburses AM LLC for its out-of-pocket costs and expenses in connection with the Guaranteed Facility. In addition to the credit support fee, ACRE pledged to AM LLC its ownership interest in its principal lending holding entity to support the Guaranteed Facility. The Company's maximum exposure to loss shall not exceed $75 million plus accrued interest. The Company recorded the fair value of this guarantee in the amount of $1.6 million within accounts payable, accrued expenses and other liabilities in the Condensed Consolidated Statements of Financial Condition as of March 31, 2015. The total outstanding balance under the Guaranteed Facility was $75.0 million as of March 31, 2015 and December 31, 2014, respectively. The Company believes the likelihood of default by the subsidiary of ACRE to be remote.
	Performance Fees
	Generally, if at the termination of a fund (and increasingly at interim points in the life of a fund), the fund has not achieved investment returns that (in most cases) exceed the preferred return threshold or (in all cases) the general partner receives net profits over the life of the fund in excess of its allocable share under the applicable partnership agreement, the Company will be obligated to repay carried interest that was received by the Company in excess of the amounts to which the Company is entitled. This obligation is known as a "clawback" obligation. The clawback obligation may be reduced by income taxes paid by the Company related to its carried interest.
	At March 31, 2015 and December 31, 2014, if the Company assumed all existing investments were valued at $0, the amount of performance fees subject to potential clawback, net of tax, which may differ from the recognition of revenue, would have been approximately $306.3 million and $295.7 million, respectively, of which approximately $244.3 million and $239.3 million, respectively, is reimbursable to the Company by certain professionals. Management believes the possibility of all of the investments becoming worthless is remote. If the funds were liquidated at their then current fair values as of March 31, 2015 and December 31, 2014, there would be no event of clawback. For all periods presented, the Company did not accrue any expense or record a liability associated with the clawback obligation.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2015
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS
	11. RELATED PARTY TRANSACTIONS
	Substantially all of the Company's revenue is earned from its affiliates, including management fees, performance fees, administrative expense reimbursements and service fees. The related accounts receivable are included within due from affiliates within the Condensed Consolidated Statements of Financial Condition, except that performance fees receivable, which are entirely due from affiliated funds, are presented separately within the Condensed Consolidated Statements of Financial Condition.
	The Company has investment management agreements with various funds and accounts that it manages. In accordance with these agreements, the Consolidated Funds bear certain operating costs and expenses which are initially paid by the Company and subsequently reimbursed by the Consolidated Funds. In addition, the Company has agreements to provide administrative services to various entities.
	The Company also has entered into agreements to provide administrative services which are eligible for reimbursement from related parties, including Ares Capital Corporation ("ARCC"), ACRE, Ares Dynamic Credit Allocation Fund, Inc. ("ARDC"), Ares Multi-Strategy Credit Fund, Inc. ("ARMF"), Ivy Hill Asset Management, L.P., European Senior Secured Loan Programme S.à.r.l. and ACF FinCo I L.P.
	Employees and other related parties may be permitted to participate in co-investment vehicles that generally invest in Ares funds alongside fund investors. Participation is limited by law to individuals who qualify under applicable securities laws. These co-investment vehicles generally do not require these individuals to pay management or performance fees.
	Performance fees from the funds can be distributed to professionals on a current basis, subject to repayment by the subsidiary of the Company that acts as general partner of the relevant fund in the event that certain specified return thresholds are not ultimately achieved. The professionals have personally guaranteed, subject to certain limitations, the obligations of these subsidiaries in respect of this general partner obligation. Such guarantees are several and not joint and are limited to distributions received by the relevant recipient.
	The Company considers its professionals and non-consolidated funds to be affiliates. Amounts due from and to affiliates were comprised of the following:
		As of March 31,		As of December 31,
		2015		2014
	Due from affiliates:
	Management fees receivable from non-consolidated funds	$	98,775	$	113,358
	Payments made on behalf of and amounts due from non-consolidated funds		31,095		33,176
	Due from affiliates—Company	$	129,870	$	146,534
	Amounts due from portfolio companies and non-consolidated funds	$	9,338	$	11,342
	Due from affiliates—Consolidated Funds	$	9,338	$	11,342
	Due to affiliates:
	Management fee rebate payable to non-consolidated funds	$	6,048	$	14,390
	Payments made by non-consolidated funds on behalf of and amounts due from the Company		1,378		4,640
	Due to affiliates—Company	$	7,426	$	19,030
	Amounts due to non-consolidated funds	$	2,332	$	2,441
	Due to affiliates—Consolidated Funds	$	2,332	$	2,441
	Due from Ares Funds and Portfolio Companies
	In the normal course of business, the Company pays certain expenses on behalf of Consolidated Funds and non-consolidated funds for which it is reimbursed. Amounts advanced on behalf of Consolidated Funds are eliminated in consolidation. Certain expenses initially paid by the Company, primarily professional travel and other costs associated with particular portfolio company holdings, may be reimbursed by the portfolio companies.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2015
INCOME TAXES
INCOME TAXES
	12. INCOME TAXES
	A substantial portion of the Company's earnings flow through to owners of the Company without being subject to entity level income taxes. Consequently, a significant portion of the Company's earnings reflects no provision for income taxes except those for foreign, city and local income taxes incurred at the entity level. A portion of the Company's operations is held through AHI and Domestic Holdings, which are U.S. corporations for tax purposes. Their income is subject to U.S. federal, state and local income taxes and certain of its foreign subsidiaries are subject to foreign income taxes (for which a foreign tax credit can generally offset U.S. corporate taxes imposed on the same income). A provision for corporate level income taxes imposed on AHI's and Domestic Holdings' earnings is included in the Company's tax provision. The Company's tax provision also includes entity level income taxes incurred by certain affiliated funds and co-investment entities that are consolidated in these financial statements. The Company's income tax expense was $5.9 million for the three months ended March 31, 2015 and income tax benefit was $6.7 million for three months ended March 31, 2014.
	The Company's effective income tax rate is dependent on many factors, including the estimated nature of many amounts and the mix of revenues and expenses between U.S. corporate subsidiaries that are subject to income taxes and those subsidiaries that are not. For the three months ended March 31, 2015 and 2014, the Company has utilized the discrete effective tax rate method, as allowed by Accounting Standards Codification ("ASC") 740-270-30-18, "Income Taxes—Interim Reporting," to calculate its interim income tax provision. The discrete method is applied when the application of the estimated annual effective tax rate is impractical because it is not possible to reliably estimate the annual effective tax rate. The discrete method treats the year to date period as if it was the annual period and determines the income tax expense or benefit on that basis. Additionally, the Company's effective tax rate is influenced by the amount of income tax provision recorded for any affiliated funds and co-investment entities that are consolidated in these financial statements. Consequently, the effective income tax rate is subject to significant variation from period to period.
	The Company files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, local and foreign tax regulators. As of March 31, 2015, the Company's U.S. federal income tax returns for the years 2011 through 2014 are open under the normal three-year statute of limitations and therefore subject to examination. State and local tax returns are general subject to audit from 2010 to 2014. Foreign tax returns are generally subject to audit from 2009 to 2014. Although the outcome of tax audits is always uncertain, the Company does not believe the outcome of any future audit will have a material adverse effect on the Company's condensed consolidated financial statements.

EARNINGS_PER_COMMON_UNIT

EARNINGS PER COMMON UNIT	3 Months Ended
	Mar. 31, 2015
EARNINGS PER COMMON UNIT
EARNINGS PER COMMON UNIT
	13. EARNINGS PER COMMON UNIT
	Prior to the Reorganization and the IPO in May 2014, the Company's businesses were conducted through multiple operating businesses rather than a single holding entity. As such, there was no single capital structure upon which to calculate historical earnings per common unit information. Accordingly, earnings per common unit information has not been presented for historical periods prior to the IPO.
	Basic earnings per common unit is computed by dividing income available to common unitholders by the weighted-average number of common units outstanding during the period. Diluted earnings per common unit is computed using the more dilutive method of either the two-class method or the treasury stock method.
	The two-class method is an earnings allocation method under which earnings per unit is calculated for common units and participating securities considering both dividends declared (or accumulated) and participation rights in undistributed earnings as if all such earnings had been distributed during the period. Because the holders of unvested restricted units have the right to participate in distributions when declared, the unvested restricted units are considered participating securities to the extent they are expected to vest. For the three months ended March 31, 2015, the two-class method was the more dilutive method for the unvested restricted stock units. For the three months ended March 31, 2015, no participating securities have rights to undistributed earnings.
	The treasury stock method is used to determine potentially dilutive securities resulting from options and unvested restricted units granted under the 2014 Equity Incentive Plan. Potentially dilutive securities representing 25,022,983 options were excluded from the computation of diluted earnings per common unit because their effect would have been anti-dilutive. If the treasury stock method had been the more dilutive method for the unvested restricted stock units, the dilutive effect of those units would have been 834,288 units for the three months ended March 31, 2015.
	Holders of AOG Units may exchange their AOG Units for common units on a one-for-one basis after the second anniversary of the date of the closing of the IPO provided that Alleghany may exchange up to half of its AOG Units from and after May 7, 2015 (the first anniversary of the IPO), subject to any applicable transfer restrictions and other provisions. The Company applies the "if-converted" method to determine the dilutive weighted-average partnership units represented by these contingently issuable common units, assuming March 31, 2015 represents the end of contingency period.
	The Company has excluded 132,437,609 AOG Units from the calculation of diluted earnings per common unit for the three months ended March 31, 2015 since the exchange of these units would proportionally increase Ares Management, L.P.'s interest in the Ares Operating Group and would have an anti-dilutive effect on earnings per common unit as a result of certain tax benefits that Ares Management, L.P. is assumed to receive upon the exchange.
	The following table presents the computation of basic and diluted earnings per common unit:
		For the three months ended
		March 31, 2015
	(Dollars in thousands, except unit data)	Basic			Diluted
	Net income attributable to Ares Management, L.P.	$	18,456		$	18,456
	Earnings distributed to participating securities		(237	)		(237	)
	Net income available to common unitholders	$	18,219		$	18,219
	Weighted-average common units		80,667,664			80,667,664
	Effect of dilutive units:
	Restricted units		—			—
	Options		—			—
	Contingently issuable common units		—			—
	Diluted weighted-average common units		80,667,664			80,667,664
	Earnings per common unit	$	0.23		$	0.23

EQUITY_COMPENSATION

EQUITY COMPENSATION	3 Months Ended
	Mar. 31, 2015
EQUITY COMPENSATION
EQUITY COMPENSATION
	14. EQUITY COMPENSATION
	Ares Employee Participation LLC Interests
	Prior to the IPO, the Company historically issued various profit interests and membership interests to pools of certain professionals that provide for the participation in the profits of APMC and/or proceeds of certain capital events. Unless otherwise stated, the grant date fair value of each award or respective membership interest was determined by an independent third-party valuation firm principally using a contingent claims analysis. These awards are referred to as Ares Employee Participation ("AEP") plans.
	The following summarizes the grant date fair value associated with each equity award issued prior to May 1, 2014, as well as the expense recognized for each year presented:
						Equity
						Compensation
						Expenses
						Recognized,
						Net of
						Forfeitures
						Three Months
						Ended
			Grant Date Fair			March 31,
	(Presented in thousands)		Value			2015		2014
	AEP I Profit Interest		$	38,400		$	—	$	—
	AEP II Profit Interests			33,423			—		1,504
	AEP IV Profit Interests			10,657			—		—
	AEP VI Profit Interests			9,047			—		—
	Exchanged AEP Awards			68,607			—		—
	Indicus
	Membership Interest			20,700			—		1,036
	Profit Interest			5,464			—		456
	AREA Membership Interest			25,381			—		2,343
	Total		$	211,679		$	—	$	5,339
	Ares Management, L.P. 2014 Equity Incentive Plan
	In connection with the IPO, the Company adopted the Equity Incentive Plan. Under the Equity Incentive Plan, the Company granted options to acquire 24,835,227 common units, 4,936,051 restricted units to be settled in common units and 686,395 phantom common units to be settled in cash. The total number of units immediately available for issuance under the Equity Incentive Plan was 31,704,545 as of the date of the IPO. Based on a formula as defined in the Equity Incentive Plan, the total number units available to be issued under the Equity Incentive Plan increases annually on January 1. As of January 1, 2015, the total number of units available for issuance under the Equity Incentive Plan increased to 31,728,949 and as of March 31, 2015, 30,840,965 units had not been issued.
	Equity-based compensation expense, net of assumed forfeitures is included in the following table:
			For the
			three months ended
			March 31, 2015
	Restricted units		$	3,445
	Options			3,853
	Phantom units			623
	Equity-based compensation expense		$	7,921
	Restricted Units
	Each restricted unit represents an unfunded, unsecured right of the holder to receive a common unit on the vesting date. The restricted units generally vest either (i) at a rate of one-third per year, beginning on the third anniversary of the grant date, or (ii) in their entirety on the fifth anniversary of the grant date. Compensation expense associated with restricted units is being recognized on a straight-line basis over the service period of the respective grant. The grant date fair value gives effect to a discount for lack of marketability imposed by a five-year lock up period that was determined to be 5.0% based on Finnerty's average strike price put option model.
	The holders of restricted units have the right to receive as current compensation an amount in cash equal to (i) the amount of any distribution paid with respect to a common unit multiplied by (ii) the number of unvested restricted units held at the time such distributions are declared ("Distribution Equivalent"). The Company declared a quarterly distribution of $0.24 per common unit to common unitholders of record at the close of business on March 16, 2015. For the three months ended March 31, 2015, Distribution Equivalents were made to the holders of restricted units in the amount of $1.1 million, of which $0.2 million is presented within compensation and benefits in the Condensed Consolidated Statements of Operations and $0.9 million is included in distributions in the Condensed Consolidated Statements of Changes in Equity.
	The following table presents unvested restricted units' activity during the three months ended March 31, 2015:
			Restricted Units			Weighted Average
						Grant Date Fair
						Value Per Unit
	Balance—January 1, 2015			4,776,053		$	18.08
	Granted			171,444			17.27
	Forfeited			(75,920	)		18.05
	Balance—March 31, 2015			4,871,577		$	18.06
	No restricted units were vested during the three months ended March 31, 2015. The total compensation expense expected to be recognized in all future periods associated with the restricted units, considering assumed annual forfeitures of 7.0%, is approximately $56.8 million at March 31, 2015, which is expected to be recognized over the remaining weighted average period of 4.10 years.
	Options
	Each option entitles the holders to purchase from the Company, upon exercise thereof, one common unit at the stated exercise price. The term of the options is generally ten years from the grant date. The options generally vest at a rate of one-third per year, beginning on the third anniversary of the grant date. Compensation expense associated with these options is being recognized on a straight-line basis during the service period of the respective grant. As of March 31, 2015, there was $63.4 million of total unrecognized compensation expense, net of assumed annual forfeitures of 7.0%, that is expected to be recognized over the remaining weighted average period of 4.08 years.
	A summary of unvested options activity during the three months ended March 31, 2015 is presented below:
			Options			Weighted Average		Weighted Average		Aggregate
						Exercise Price		Remaining Life		Intrinsic
								(in years)		Value
	Balance—January 1, 2015			24,230,518		$	19		9.33
	Granted			935,135			18.82		9.83
	Forfeited			(142,675	)		19		—
	Balance—March 31, 2015			25,022,978		$	18.99		9.11
	Exercisable at March 31, 2015			—			—		—	$	—
	Expected to vest after March 31, 2015			19,333,428			18.99		9.11	$	—
	Aggregate intrinsic value represents the value of the Company's closing unit price on the last trading day of the period in excess of the weighted-average exercise price multiplied by the number of options exercisable or expected to vest. As of March 31, 2015, the Company's closing unit price is lower than the weighted average exercise price of the options exercisable or expected to vest. As a result, the options are out of the money and have no intrinsic value.
	The fair value of each option granted during the three months ended March 31, 2015 is measured on the date of grant using the Black-Scholes option-pricing model and the following weighted average assumptions:
	Risk-free interest rate		1.71% to 1.80%
	Weighted average expected dividend yield		5.00%
	Expected volatility factor(a)		35.00% to 36.00%
Expected life in years		6.66 to 7.49
(a)	Expected volatility is based on comparable companies using daily stock prices.
The fair value of an award is affected by the Company's unit price on the date of grant as well as other assumptions including the estimated volatility of the Company's unit price over the term of the awards and the estimated period of time that management expects employees to hold their unit options. The estimated period of time that management expects employees to hold their options was estimated as the midpoint between the vesting date and maturity date.
Phantom Units
Each phantom unit represents an unfunded, unsecured right of the holder to receive an amount in cash per phantom unit equal to the average closing price of a common unit for the 15 trading days immediately prior to, and the 15 trading days immediately following, the vesting date. The phantom units will vest in equal installments over five years at the anniversaries of the IPO date. The phantom units are accounted for as liability awards with compensation expense being recognized based on a straight-line basis based on the number of units expected to vest during the service period. Forfeitures will reduce the expenses in the period in which the forfeiture occurs.
A summary of unvested phantom units' activity during the three months ended March 31, 2015 is presented below:
		Phantom Units			Weighted Average
					Grant Date Fair Value
					Per Unit
Balance January 1, 2015			610,711		$	19
Forfeited			(16,538	)		19
Balance March 31, 2015			594,173		$	19
No phantom units were vested during the three months ended March 31, 2015. Forfeitures are accounted for as they occur. The fair value of the awards is remeasured at each reporting period and was $18.54 per unit as of March 31, 2015. Based on the fair value of the awards at March 31, 2015, $9.0 million of unrecognized compensation expense in connection with phantom units outstanding is expected to be recognized over a weighted average period of 4.08 years. For the three months ended March 31, 2015, no cash was paid to settle phantom units.
Unvested phantom units, restricted units and options are forfeited upon any termination of employment; provided that, with respect to certain restricted units and options, if a participant's employment is terminated between the first and second year after grant by the Company without "cause," or as a result of a participant's death or disability, 11% of the award will vest and, if the participant's employment is so terminated between the second and third year after grant, 22% of the award will vest.
The Company records deferred tax assets for equity-based compensation awards, based on the amount of equity-based compensation expense recognized at the statutory tax rate in the jurisdiction in which the Company is expected to receive a future tax deduction. For the three months ended March 31, 2015, the Company recognized $3.5 million of deferred tax assets related to its equity-based award. In addition, differences between the deferred tax assets recognized for financial reporting purposes and the actual tax deduction reported on the Company's income tax returns are recorded as adjustments to partners' capital. If the tax deduction is less than the deferred tax asset, the calculated shortfall reduces the pool of excess tax benefits. If the pool of excess tax benefits is reduced to zero, then subsequent shortfalls would increase the income tax expense.

EQUITY

EQUITY	3 Months Ended
	Mar. 31, 2015
EQUITY
EQUITY
	15. EQUITY
	Ares Management, L.P.
	Common units represent limited partnership interests in the Company. The holders of common units are entitled to participate pro rata in distributions from the Company and to exercise the rights or privileges that are available to common unitholders under the Company's partnership agreement. The common unitholders have limited voting rights and have no right to remove the Company's general partner, Ares Management GP LLC, or, except in limited circumstances, to elect the directors of the general partner.
	At March 31, 2015, Ares Management, L.P. owns a 37.85% direct interest, or 80,667,664 AOG Units, in each of the Ares Operating Group entities; Ares Owners Holding L.P. owns a 56.28% direct interest, or 119,937,609 AOG Units, in each of the Ares Operating Group entities; and an affiliate of Alleghany owns a 5.87% direct interest, or 12,500,000 AOG Units, in each of the Ares Operating Group entities. For the three months ended March 31, 2015, the daily average ownership of AOG Units in each of the Ares Operating Group entities by Ares Owners Holding L.P., Alleghany and Ares Management, L.P. was 56.28%, 5.87% and 37.85%, respectively.
	The Company's ownership percentage of the AOG Units will continue to change upon: (i) the vesting of restricted units and exercise of options that were granted under the Equity Incentive Plan; (ii) the exchange of AOG Units for common units; and (iii) the cancellation of AOG Units in connection with certain individuals' forfeiture of AOG Units upon termination of employment. Holders of the AOG Units may exchange their AOG Units for common units on a one-for-one basis up to four times each year after the second anniversary of the date of the closing of the IPO, except that Alleghany may exchange up to half of its AOG Units for common units on a one-for-one basis after May 7, 2015 (the first anniversary of the date of the closing of the IPO) and EIF may exchange up to half of its AOG Units for common units on a one-for-one basis after six months following the closing of the EIF transaction and all of its AOG Units on the first anniversary of the closing of the EIF transaction. Equity is reallocated among partners upon a change in ownership to ensure each partners' capital account properly reflects their respective claim on the residual value of the Company. This change is reflected as either a reallocation of interest or as dilution in the statement of changes in equity.

SEGMENT_REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2015
SEGMENT REPORTING
SEGMENT REPORTING
	16. SEGMENT REPORTING
	The Company conducts its alternative asset management business through four operating segments:
	•	Tradable Credit Group:  The Company's Tradable Credit Group managed 75 funds, with approximately $33.4 billion of assets under management, as of March 31, 2015. The group's fund seek a wide variety of investments ranging from commingled and separately managed accounts for institutional investors to publicly traded vehicles and sub-advised funds for retail investors. While each of the group's funds is tailored to specific investment objectives, mandates can be broadly categorized between long-only credit and alternative credit investment strategies.
	•	Direct Lending Group:  The Company's Direct Lending Group is primarily comprised of self-originating direct lenders to the U.S. and European markets, with approximately $28.7 billion of assets under management across 34 funds or investment vehicles as of March 31, 2015, which include separately managed accounts for large institutional investors seeking tailored investment solutions, commingled funds and joint venture lending programs with affiliates of General Electric Company. In the second quarter of 2014, the group acquired Keltic Financial Services LLC and Keltic Financial Partners II, LP, a leading commercial finance company that provides asset-based loans to small and middle market companies based in New York (the "Keltic acquisition") that now operates as Ares Commercial Finance.
	•	Private Equity Group:  The Company's Private Equity Group had approximately $14.8 billion of assets under management as of March 31, 2015. The group managed four corporate private equity commingled funds focused on North America and; to a lesser extent Europe, one China growth fund and four commingled funds and four related co-investment vehicles focused on U.S. energy and power assets as of March 31, 2015. The corporate private equity funds pursue majority or shared-control investments in businesses with strong franchises and attractive growth opportunities in North America and Europe. The China growth fund pursues privately negotiated growth equity investment in China. On January 1, 2015, the group acquired EIF. EIF had approximately $4.4 billion of AUM across four commingled funds and four related co-investment vehicles as of March 31, 2015. The EIF funds target assets across the U.S. power generation, transmission and midstream sectors, and seek attractive risk-adjusted equity returns with current cash flow and capital appreciation.
	•	Real Estate Group:  The Company's Real Estate Group manages comprehensive public and private equity and debt strategies, with approximately $10.0 billion of assets under management across 42 funds and services a portfolio of over $5.6 billion in mortgage loans principally through a subsidiary of ACRE as of March 31, 2015. The Real Estate Group provides debt and equity capital to a broad spectrum of borrowers, property owners and real estate developers. The group seeks to create value for investors by investing in under-managed and undercapitalized assets in supply-constrained markets, targeting de-risked assets and markets with consistent demand fundamentals, high barriers to new supply and strong liquidity characteristics. The group has achieved significant scale in a short period of time through various acquisitions and successful fundraising efforts.
	The Company established an Operations Management Group (the "OMG") that consists of five independent, shared resource groups to support the Company's operating segments by providing infrastructure and administrative support in the areas of accounting/finance, operations, information technology, business development, legal/compliance and human resources. Additionally, the OMG provides services to certain of the Company's investment companies and partnerships, which reimburse the OMG for expenses equal to the costs of services provided. The Company's clients seek to partner with investment management firms that not only have compelling investment track records across multiple investment products but also possess seasoned infrastructure support functions. As such, significant investments have been made to develop the OMG. The Company has successfully launched new business lines, integrated acquired businesses into the operations and created scale within the OMG to support a much larger platform in the future. The OMG's expenses are not allocated to the Company's four reportable segments but the Company does consider the cost structure of the OMG when evaluating its financial performance.
	Economic net income ("ENI") is a key performance indicator used in the alternative asset management industry. ENI represents net income excluding (a) income tax expense, (b) operating results of Consolidated Funds, (c) depreciation expense, (d) the effects of changes arising from corporate actions and (e) certain other items that the Company does not believe are indicative of its core performance. Changes arising from corporate actions include equity-based compensation expenses, the amortization of intangible assets, transaction costs associated with acquisitions and capital transactions, placement fees and underwriting costs and expenses incurred in connection with corporate reorganization. The Company believes the exclusion of these items provides investors with a meaningful indication of the Company's core operating performance. ENI is evaluated regularly by management as a decision tool for deployment of resources and assess performances of each of the business segments. The Company believes that reporting ENI is helpful in understanding its business and that investors should review the same supplemental non-GAAP financial measures that management uses to analyze the segment performance. These measures supplement and should be considered in addition to, and not in lieu of, the Condensed Consolidated Statements of Operations prepared in accordance with GAAP.
	Fee related earnings ("FRE") is a component of ENI and is used to assess the ability of the business to cover direct base compensation and operating expenses from management fees. FRE differs from income before taxes computed in accordance with GAAP as it adjusts for the items included in the calculation of ENI and excludes performance fees, performance fee compensation and investment income from Consolidated Funds and certain other items.
	Performance related earnings ("PRE") is a measure used to assess the Company's investment performance and its ability to cover performance fee compensation from performance fees and total investment income. PRE differs from income before taxes computed in accordance with GAAP as it only includes performance fees, performance fee compensation and total investment and other income (expense) earned from Consolidated Funds and non-consolidated funds.
	Distributable earnings ("DE") is a pre-income tax measure that is used to assess amounts potentially available for distributions to stakeholders. Distributable earnings is calculated as the sum of FRE, realized performance fees, realized performance fee compensation and realized net investment and other income, and further adjusts for expenses arising from transaction costs associated with acquisitions, placement fees, underwriting costs, expenses incurred in connection with corporate reorganization and depreciation. DE differs from income before taxes computed in accordance with GAAP as it is presented before giving effect to unrealized performance fees, unrealized performance fee compensation, unrealized net investment income, amortization of intangibles, equity compensation expense and is further adjusted by certain items described in the reconciling table (d) following our segment results.
	Management makes operating decisions and assesses the performance of each of the Company's business segments based on financial and operating metrics and other data that is presented before giving effect to the consolidation of any of the Consolidated Funds. Consequently, all segment data excludes the assets, liabilities and operating results related to the Consolidated Funds and non-consolidated funds.
	The following table presents the financial results for the Company's operating segments, as well as the OMG, as of and for the three months ended March 31, 2015:
			Tradable			Direct			Private			Real			Total			OMG			Total
			Credit			Lending			Equity			Estate			Segments						Stand
			Group			Group			Group			Group									Alone
	Management fees (includes ARCC Part I Fees of $29,042)		$	37,609		$	70,739		$	36,589		$	17,378		$	162,316		$	—		$	162,316
	Administrative fees and other income			21			77			13			856			967			6,385			7,350
	Compensation and benefits			(8,889	)		(33,676	)		(12,321	)		(10,131	)		(65,017	)		(28,914	)		(93,931	)
	General, administrative and other expenses			(3,831	)		(3,294	)		(3,118	)		(2,545	)		(12,788	)		(15,326	)		(28,114	)
	Fee related earnings (loss)			24,910			33,846			21,163			5,558			85,477			(37,855	)		47,622
	Performance fees—realized			33,325			1,889			425			—			35,639			—			35,639
	Performance fees—unrealized			(27,692	)		8,491			87,331			319			68,449			—			68,449
	Performance fee compensation—realized			(19,871	)		(1,133	)		(340	)		—			(21,344	)		—			(21,344	)
	Performance fee compensation—unrealized			19,554			(5,023	)		(69,981	)		403			(55,048	)		—			(55,048	)
	Net performance fees			5,316			4,224			17,435			722			27,697			—			27,697
	Investment income (loss)—realized			7,222			1,396			4,172			132			12,922			—			12,922
	Investment income (loss)—unrealized			(1,526	)		(1,843	)		(1,442	)		196			(4,615	)		—			(4,615	)
	Interest and other investment income			(1,739	)		213			4,485			29			2,988			—			2,988
	Interest expense			(1,208	)		(526	)		(1,680	)		(270	)		(3,684	)		—			(3,684	)
	Net investment income (loss)			2,749			(760	)		5,535			87			7,611			—			7,611
	Performance related earnings (loss)			8,065			3,464			22,970			809			35,308			—			35,308
	Economic net income (loss)		$	32,975		$	37,310		$	44,133		$	6,367		$	120,785		$	(37,855	)	$	82,930
	Distributable earnings (loss)		$	41,126		$	34,581		$	27,086		$	3,382		$	106,175		$	(38,880	)	$	67,295
	Total assets		$	451,176		$	248,342		$	862,147		$	166,715		$	1,728,380		$	16,941		$	1,745,321
	The following table presents the financial results for the Company's operating segments, as well as the OMG, as of and for the three months ended March 31, 2014:
			Tradable			Direct			Private			Real			Total			OMG			Total
			Credit			Lending			Equity			Estate			Segments						Stand
			Group			Group			Group			Group									Alone
	Management fees (includes ARCC Part I Fees of $28,318)		$	33,693		$	66,204		$	23,196		$	16,768		$	139,861		$	—		$	139,861
	Administrative fees and other income			17			90			76			1,290			1,473			5,392			6,865
	Compensation and benefits			(10,805	)		(32,212	)		(8,195	)		(11,485	)		(62,697	)		(27,657	)		(90,354	)
	General, administrative and other expenses			(3,696	)		(1,914	)		(2,000	)		(4,267	)		(11,877	)		(13,535	)		(25,412	)
	Fee related earnings (loss)			19,209			32,168			13,077			2,306			66,760			(35,800	)		30,960
	Performance fees—realized			10,213			39			13,086			—			23,338			—			23,338
	Performance fees—unrealized			13,509			2,292			21,341			2,950			40,092			—			40,092
	Performance fee compensation—realized			(5,506	)		(29	)		(10,472	)		—			(16,007	)		—			(16,007	)
	Performance fee compensation—unrealized			(6,355	)		(1,451	)		(16,912	)		—			(24,718	)		—			(24,718	)
	Net performance fees			11,861			851			7,043			2,950			22,705			—			22,705
	Investment income (loss)—realized			18,018			(597	)		1,131			730			19,282			—			19,282
	Investment income (loss)—unrealized			(12,866	)		1,524			15,156			(862	)		2,952			—			2,952
	Interest and other income			251			98			2,785			11			3,145			—			3,145
	Interest expense			(387	)		(304	)		(623	)		(325	)		(1,639	)		—			(1,639	)
	Net investment income (loss)			5,016			721			18,449			(446	)		23,740			—			23,740
	Performance related earnings			16,877			1,572			25,492			2,504			46,445			—			46,445
	Economic net income (loss)		$	36,086		$	33,740		$	38,569		$	4,810		$	113,205		$	(35,800	)	$	77,405
	Distributable earnings (loss)		$	40,704		$	31,158		$	18,698		$	1,499		$	92,059		$	(37,512	)	$	54,547
	Total assets		$	555,851		$	195,543		$	477,710		$	167,315		$	1,396,419		$	10,437		$	1,406,856
	The following reconciliations contain rounded values that are presented elsewhere within the financial statements. Consequently, the sum of certain values may not match the totals presented herein.
			For the Three months ended March 31, 2015
			Total			Consolidation Adjustments			Consolidated
			Segments			and Reconciling Items			Results
	Revenues		$	267,370	-1	$	-85,642	(a)	$	181,728
Expenses			154,196	-2		84,666	(b)		238,862
Other income (expense)			7,611	-3		456,088	(c)		463,699
Economic net income / Income before taxes			120,785			285,780	(d)		406,565
Total assets			1,728,380			19,889,776	(e)		21,618,156
		For the Three months ended March 31, 2014
		Total			Consolidation Adjustments			Consolidated
		Segments			and Reconciling Items			Results
Revenues		$	204,764	-1	$	-71,136	(a)	$	133,628
Expenses			115,299	-2		68,831	(b)		184,130
Other income (expense)			23,740	-3		301,437	(c)		325,177
Economic net income / Income before taxes			113,205			161,470	(d)		274,675
Total assets			1,396,419			20,639,082	(e)		22,035,501
-1	Segment revenues consist of management fees, administrative fees and other income, as well as realized and unrealized performance fees.
		March 31,			March 31,
		2015			2014
Management fees		$	162,316		$	139,861
Administrative fees and other income			967			1,473
Performance fees—realized			35,639			23,338
Performance fees—unrealized			68,449			40,092
Total segment revenue		$	267,370		$	204,764
-2	Segment expenses consist of compensation and benefits, and general, administrative and other expenses, as well as realized and unrealized performance fee expenses.
		March 31,			March 31,
		2015			2014
Compensation and benefits		$	65,017		$	62,697
General, administrative and other expenses			12,788			11,877
Performance fee compensation—realized			21,344			16,007
Performance fee compensation—unrealized			55,048			24,718
Total segment expense		$	154,196		$	115,299
-3	Segment net investment income consists of realized and unrealized investment income and expenses, interest and other income and interest expenses.
		March 31,			March 31,
		2015			2014
Investment income (loss)—realized		$	12,922		$	19,282
Investment Income (loss)—unrealized			(4,615	)		2,952
Interest, dividend and other investment income			2,988			3,145
Interest expense			(3,684	)		(1,639	)
Net investment income		$	7,611		$	23,740
(a)	The revenues adjustment principally represents management and performance fees earned from Consolidated Funds which were eliminated in consolidation to arrive at Ares consolidated revenues.
		March 31,			March 31,
		2015			2014
Consolidated Fund income eliminated in consolidation		$	(91,036	)	$	(73,578	)
Administrative fees and other income attributable to OMG			6,385			5,392
Performance fees—unrealized reclass(1)			(990	)		(2,950	)
Total consolidated adjustments and reconciling items		$	(85,642	)	$	(71,136	)
-1	Related to performance fees for AREA Sponsor Holdings LLC, an investment pool. Changes in value of this investment are reflected within other income (expense) in the Company's Condensed Consolidated Statements of Operations.
(b)	The expenses adjustment represents the addition of expenses of the Consolidated Funds to the Ares unconsolidated expenses, depreciation expense, equity-based compensation and expenses associated with acquisitions and corporate actions necessary to arrive at Ares consolidated expenses.
		March 31,			March 31,
		2015			2014
Consolidated Fund expenses added in consolidation		$	48,571		$	40,637
Consolidated Fund expenses eliminated in consolidation			(33,499	)		(31,700	)
OMG expenses			44,240			41,192
Acquisition related expenses			2,224			1,421
Equity compensation expense			7,921			5,339
Placement fees and underwriting costs			3,045			1,052
Amortization of intangibles			10,892			8,831
Depreciation expense			1,273			2,059
Total consolidation adjustments and reconciling items		$	84,666		$	68,831
(c)	The other income adjustment represents the addition of net investment income (loss) and net interest income (expense) to arrive at Ares consolidated other income.
		March 31,			March 31,
		2015			2014
Consolidated Funds other income added in consolidation, net		$	461,059		$	321,117
Other income from Consolidated Funds eliminated in consolidation, net			(5,951	)		(22,630	)
Performance fee reclass(1)			990			2,950
Other non-cash items			(10	)		—
Total consolidation adjustments and reconciling items		$	456,088		$	301,437
-1	Related to performance fees for AREA Sponsor Holdings LLC. Changes in value of this investment are reflected within other (income) expense in the Company's Condensed Consolidated Statements of Operations.
(d)	The reconciliation of income before taxes as reported in the Condensed Consolidated Statements of Operations to segment results of economic net income, fee related earnings, performance related earnings and distributable earnings consists of the following:
		March 31,			March 31,
		2015			2014
Economic net income
Income before taxes		$	406,565		$	274,675
Adjustments:
Amortization of intangibles			10,892			8,831
Depreciation expense			1,273			2,059
Equity compensation expenses			7,921			5,339
Acquisition-related expenses			2,224			1,421
Placement fees and underwriting costs			3,045			1,052
OMG expenses, net			37,855			35,800
Other non-cash items			10			—
Income (loss) before taxes of non-controlling interests in Consolidated Funds			(349,001	)		(215,972	)
Total consolidation adjustments and reconciling items			(285,780	)		(161,470	)
Economic net income		$	120,785		$	113,205
Fee related earnings
Income before taxes		$	406,565		$	274,675
Adjustments:
Amortization of intangibles			10,892			8,831
Depreciation expense			1,273			2,059
Equity compensation expenses			7,921			5,339
Acquisition-related expenses			2,224			1,421
Placement fees and underwriting costs			3,045			1,052
OMG expenses, net			37,855			35,800
Other non-cash items			10			—
Income (loss) before taxes of non-controlling interests in Consolidated Funds			(349,001	)		(215,972	)
Total consolidation adjustments and reconciling items			(285,780	)		(161,470	)
Economic net income			120,785			113,205
Total performance fees income—realized			(35,639	)		(23,338	)
Total performance fees income—unrealized			(68,449	)		(40,092	)
Total performance fee compensation—realized			21,344			16,007
Total performance fee compensation—unrealized			55,048			24,718
Total investment income			(7,611	)		(23,740	)
Fee related earnings		$	85,477		$	66,760
Management fees		$	162,316		$	139,861
Administrative fees and other income			967			1,473
Compensation and benefits			(65,017	)		(62,697	)
General, administrative and other expenses			(12,788	)		(11,877	)
Fee related earnings		$	85,477		$	66,760
		March 31,			March 31,
		2015			2014
Performance related earnings:
Income before taxes		$	406,565		$	274,675
Adjustments:
Amortization of intangibles			10,892			8,831
Depreciation expense			1,273			2,059
Equity compensation expenses			7,921			5,339
Acquisition-related expenses			2,224			1,421
Placement fees and underwriting costs			3,045			1,052
OMG expenses, net			37,855			35,800
Other non-cash items			10			—
Income (loss) before taxes of non-controlling interests in Consolidated Funds			(349,001	)		(215,972	)
Economic net income			120,785			113,205
Total management fees			(162,316	)		(139,861	)
Administrative fees and other income			(967	)		(1,473	)
Compensation and benefits			65,017			62,697
General, administrative and other expenses			12,788			11,877
Performance related earnings		$	35,308		$	46,445
Total performance fees—realized		$	35,639		$	23,338
Total performance fees—unrealized			68,449			40,092
Total performance fee compensation—realized			(21,344	)		(16,007	)
Total performance fee compensation—unrealized			(55,048	)		(24,718	)
Net investment income (loss)			7,611			23,740
Performance related earnings		$	35,308		$	46,445
		March 31,			March 31,
		2015			2014
Distributable earnings
Income (loss) before taxes		$	406,565		$	274,675
Adjustments:
Amortization of intangibles			10,892			8,831
Equity compensation expenses			7,921			5,339
OMG distributable loss(1)			38,880			37,512
Non-cash acquisition-related expenses			1,251			—
Taxes paid(2)			(479	)		—
Dividend equivalent			(912	)		—
Other non-cash items			(156	)		—
Income (loss) before taxes of non-controlling interests in Consolidated Funds			(349,001	)		(215,972	)
Unrealized performance fees			(68,449	)		(40,092	)
Unrealized performance fee compensation			55,048			24,718
Unrealized investment and other income (loss)			4,615			(2,952	)
Distributable earnings		$	106,175		$	92,059
Fee related earnings		$	85,477		$	66,760
Performance fees—realized			35,639			23,338
Performance fee compensation—realized			(21,344	)		(16,007	)
Investment and other income realized, net			12,226			20,788
Net performance related earnings—realized			26,521			28,119
Less:
Dividend equivalent(3)			(684	)		—
One-time acquisition costs(3)			(724	)		—
Income tax expense(3)			(476	)		—
Non-cash items			(156	)		—
Placement fees and underwriting costs			(3,045	)		(1,052	)
Non-cash depreciation and amortization(3)			(739	)		(1,768	)
Distributable earnings		$	106,175		$	92,059
-1		Represents OMG distributable earnings which includes depreciation expense.
-2		Represents current portion of income tax expense of subsidiary operating entities.
-3		Certain costs are reduced by the amounts attributable to OMG, which is excluded from segment results.
		March 31,			March 31,
		2015			2014
Total assets from Consolidated Funds added in consolidation		$	20,722,470		$	21,420,284
Total assets from Consolidated Funds eliminated in consolidation			(849,635	)		(791,639	)
OMG assets			16,941			10,437
Total consolidation adjustments and reconciling items		$	19,889,776		$	20,639,082

CONSOLIDATING_SCHEDULES

CONSOLIDATING SCHEDULES	3 Months Ended
	Mar. 31, 2015
CONSOLIDATING SCHEDULES
CONSOLIDATING SCHEDULES
	17. CONSOLIDATING SCHEDULES
	The following supplemental financial information illustrates the consolidating effects of the Consolidated Funds on the Company's financial condition as of March 31, 2015 and December 31, 2014 and results from operations for the three months ended March 31, 2015 and 2014.
		As of March 31, 2015
		Consolidated			Consolidated			Eliminations			Consolidated
		Company			Funds
		Entities
	Assets
	Cash and cash equivalents	$	69,372		$	—		$	—		$	69,372
	Investments		606,875			—			(408,245	)		198,630
	Derivative assets, at fair value		8,217			—			—			8,217
	Performance fees receivable		590,308			—			(418,515	)		171,793
	Due from affiliates		150,466			—			(20,596	)		129,870
	Other assets		55,735			—			(45	)		55,690
	Intangible assets, net		120,268			—			—			120,268
	Goodwill		144,080			—			—			144,080
	Assets of Consolidated Funds
	Cash and cash equivalents		—			1,318,017			—			1,318,017
	Investments		—			18,990,943			—			18,990,943
	Loans held for investment, net		—			85,214			—			85,214
	Due from affiliates		—			11,572			(2,234	)		9,338
	Dividends and interest receivable		—			71,761			—			71,761
	Receivable for securities sold		—			234,938			—			234,938
	Derivative assets, at fair value		—			3,696			—			3,696
	Other assets		—			6,329			—			6,329
	Total assets	$	1,745,321		$	20,722,470		$	(849,635	)	$	21,618,156
	Liabilities
	Accounts payable and accrued expenses	$	127,053		$	—		$	(668	)	$	126,385
	Accrued compensation		55,307			—			—			55,307
	Derivative liabilities, at fair value		2,973			—			—			2,973
	Due to affiliates		8,456			—			(1,030	)		7,426
	Performance fee compensation payable		421,074			—			(887	)		420,187
	Debt obligations		298,614			—			—			298,614
	Equity compensation put option liability		20,000			—			—			20,000
	Deferred tax liability, net		21,026			—			—			21,026
	Liabilities of Consolidated Funds
	Accounts payable, accrued expenses and other liabilities		—			54,337			(273	)		54,064
	Due to affiliates		—			66,545			(64,213	)		2,332
	Payable for securities purchased		—			475,380			—			475,380
	Derivative liabilities, at fair value		—			59,483			—			59,483
	Securities sold short, at fair value		—			3,763			—			3,763
	Deferred tax liability, net		—			23,585			—			23,585
	CLO loan obligations		—			12,222,880			(68,203	)		12,154,677
	Fund borrowings		—			683,564			—			683,564
	Mezzanine debt		—			406,371			—			406,371
	Total liabilities		954,503			13,995,908			(135,274	)		14,815,137
	Commitments and contingencies
	Redeemable interest in Consolidated Funds		—			915,017			—			915,017
	Redeemable interest in Ares Operating Group entities		24,077			—			—			24,077
	Non-controlling interest in Consolidated Funds:
	Non-controlling interest in Consolidated Funds		—			5,755,549			(718,910	)		5,036,639
	Equity appropriated for Consolidated Funds		—			55,996			—			55,996
	Non-controlling interest in Consolidated Funds		—			5,811,545			(718,910	)		5,092,635
	Non-controlling interest in Ares Operating Group entities		481,775			—			—			481,775
	Controlling interest in Ares Management, L.P.:
	Partners' Capital (80,667,664 units issued and outstanding)		291,641			—			—			291,641
	Accumulated other comprehensive gain (loss)		(6,676	)		—			4,550			(2,126	)
	Total controlling interest in Ares Management, L.P		284,965			—			4,550			289,515
	Total equity		766,740			5,811,545			(714,360	)		5,863,925
	Total liabilities, redeemable interests, non-controlling interests and equity	$	1,745,321		$	20,722,470		$	(849,635	)	$	21,618,156
		As of December 31, 2014
		Consolidated			Consolidated			Eliminations			Consolidated
		Company			Funds
		Entities
Assets
Cash and cash equivalents	$	148,858		$	—		$	—		$	148,858
Restricted cash and cash equivalents		32,734			—			—			32,734
Investments		598,074			—			(424,022	)		174,052
Derivative assets, at fair value		7,623			—			—			7,623
Performance fees receivable		548,098			—			(361,039	)		187,059
Due from affiliates		166,225			—			(19,691	)		146,534
Other assets		58,809			—			(93	)		58,716
Intangible assets, net		40,948			—			—			40,948
Goodwill		85,582			—			—			85,582
Assets of Consolidated Funds
Cash and cash equivalents		—			1,314,397			—			1,314,397
Investments, at fair value		—			19,123,950			—			19,123,950
Loans held for investment, net		—			77,514			—			77,514
Due from affiliates		—			13,262			(1,920	)		11,342
Dividends and interest receivable		—			81,331			—			81,331
Receivable for securities sold		—			132,753			—			132,753
Derivative assets, at fair value		—			3,126			—			3,126
Other assets		—			6,156			—			6,156
Total assets	$	1,686,951		$	20,752,489		$	(806,765	)	$	21,632,675
Liabilities
Accounts payable and accrued expenses	$	101,912		$	—		$	(602	)	$	101,310
Accrued compensation		129,433			—			—			129,433
Derivative liabilities, at fair value		2,850			—			—			2,850
Due to affiliates		19,881			—			(851	)		19,030
Performance fee compensation payable		381,164			—			(896	)		380,268
Debt obligations		243,491			—			—			243,491
Equity compensation put option liability		20,000			—			—			20,000
Deferred tax liability, net		19,861			—			—			19,861
Liabilities of Consolidated Funds
Accounts payable, accrued expenses and other liabilities		—			68,674			(85	)		68,589
Due to affiliates		—			63,417			(60,976	)		2,441
Payable for securities purchased		—			618,902			—			618,902
Derivative liabilities, at fair value		—			42,332			—			42,332
Securities sold short, at fair value		—			3,763			—			3,763
Deferred tax liability, net		—			22,214			—			22,214
CLO loan obligations		—			12,120,842			(71,672	)		12,049,170
Fund borrowings		—			771,283			—			771,283
Mezzanine debt		—			378,365			—			378,365
Total liabilities		918,592			14,089,792			(135,082	)		14,873,302
Commitments and contingencies
Redeemable interest in Consolidated Funds		—			1,037,450			—			1,037,450
Redeemable interest in Ares Operating Group entities		23,988			—			—			23,988
Non-controlling interest in Consolidated Funds:
Non-controlling interest in Consolidated Funds		—			5,663,172			(674,443	)		4,988,729
Equity appropriated for Consolidated Funds		—			(37,926	)		—			(37,926	)
Non-controlling interest in Consolidated Funds		—			5,625,246			(674,443	)		4,950,803
Non-controlling interest in Ares Operating Group entities		463,493			—			—			463,493
Controlling interest in Ares Management, L.P.:
Partners' Capital (80,667,664 units issued and outstanding)		285,025			—			—			285,025
Accumulated other comprehensive gain (loss)		(4,146	)		—			2,760			(1,386	)
Total controlling interest in Ares Management, L.P		280,879			—			2,760			283,639
Total equity		744,372			5,625,246			(671,683	)		5,697,935
Total liabilities, redeemable interests, non-controlling interests and equity	$	1,686,951		$	20,752,489		$	(806,765	)	$	21,632,675
	For the Three Months Ended March 31, 2015
	Consolidated			Consolidated			Eliminations			Consolidated
	Company			Funds
	Entities
Revenues
Management fees (includes ARCC Part I Fees of $29,042)	$	162,316		$	—		$	(26,927	)	$	135,389
Performance fees		103,098			—			(63,038	)		40,060
Other fees		7,350			—			(1,071	)		6,279
Total revenues		272,764			—			(91,036	)		181,728
Expenses
Compensation and benefits		101,851			—			—			101,851
Performance fee compensation		76,392			—			—			76,392
General, administrative and other expense		45,547			—			—			45,547
Consolidated Fund expenses		—			48,571			(33,499	)		15,072
Total expenses		223,790			48,571			(33,499	)		238,862
Other income (expense)
Interest and other investment income		6,033			—			(5,691	)		342
Interest expense		(3,684	)		—			—			(3,684	)
Other income (expense), net		(3,054	)		—			2,724			(330	)
Net realized gain (loss) on investments		12,922			—			(6,158	)		6,764
Net change in unrealized appreciation (depreciation) on investments		(3,626	)		—			7,102			3,476
Interest and other investment income of Consolidated Funds		—			338,376			(190	)		338,186
Interest expense of Consolidated Funds		—			(122,634	)		3,923			(118,711	)
Net realized gain (loss) on investments of Consolidated Funds		—			(61,436	)		—			(61,436	)
Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		—			306,753			(7,661	)		299,092
Total other income (expense)		8,591			461,059			(5,951	)		463,699
Income before taxes		57,565			412,488			(63,488	)		406,565
Income tax expense (benefit)		4,059			1,833			—			5,892
Net income		53,506			410,655			(63,488	)		400,673
Less: Net income attributable to redeemable interests in Consolidated Funds		—			18,219			(2,360	)		15,859
Less: Net income attributable to non-controlling interests in Consolidated Funds		—			392,437			(61,128	)		331,309
Less: Net income attributable to redeemable interests in Ares Operating Group entities		243			—			—			243
Less: Net income attributable to non-controlling interests in Ares Operating Group entities		34,806			—			—			34,806
Net income attributable to Ares Management, L.P.	$	18,456		$	—		$	—		$	18,456
	For the Three Months Ended March 31, 2014
	Consolidated			Consolidated			Eliminations			Consolidated
	Company			Funds
	Entities
Revenues
Management fees (includes ARCC Part I Fees of $28,318)	$	139,861		$	—		$	(29,312	)	$	110,549
Performance fees		60,480			—			(44,266	)		16,214
Other fees		6,865			—			—			6,865
Total revenues		207,206			—			(73,578	)		133,628
Expenses
Compensation and benefits		95,693			—			—			95,693
Performance fee compensation		40,725			—			—			40,725
General, administrative and other expense		38,775			—			—			38,775
Consolidated Fund expenses		—			40,637			(31,700	)		8,937
Total expenses		175,193			40,637			(31,700	)		184,130
Other income (expense)
Interest and other investment income		3,483			—			(3,359	)		124
Interest expense		(1,639	)		—			—			(1,639	)
Net realized gain (loss) on investments		19,281			—			(19,347	)		(66	)
Net change in unrealized appreciation (depreciation) on investments		5,565			—			(1,419	)		4,146
Interest and other investment income of Consolidated Funds		—			345,476			(131	)		345,345
Interest expense of Consolidated Funds		—			(145,737	)		695			(145,042	)
Net realized gain (loss) on investments of Consolidated Funds		—			54,965			—			54,965
Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		—			66,413			931			67,344
Total other income (expense)		26,690			321,117			(22,630	)		325,177
Income before taxes		58,703			280,480			(64,508	)		274,675
Income tax expense		2,514			(9,209	)		—			(6,695	)
Net income		56,189			289,689			(64,508	)		281,370
Less: Net income attributable to redeemable interests in Consolidated Funds		—			42,018			(4,970	)		37,048
Less: Net income attributable to non-controlling interests in Consolidated Funds		—			247,671			(59,538	)		188,133
Less: Net income attributable to redeemable interests in Ares Operating Group entities		406			—			—			406
Less: Net income attributable to non-controlling interests in Ares Operating Group entities		12,936			—			—			12,936
Less: Net income attributable to controlling interest in Predecessor		42,847			—			—			42,847
Net income attributable to Ares Management, L.P.	$	—		$	—		$	—		$	—

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2015
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
	18. SUBSEQUENT EVENTS
	In May 2015, the Company declared a quarterly distribution of $0.25 per common unit to common unitholders of record at the close of business on May 22, 2015, payable on June 2, 2015.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Principles of Consolidation	Principles of Consolidation
	The Company consolidates those entities in which it has a direct or indirect controlling financial interest based on either a variable interest model or a voting interest model. As such, the Company consolidates (a) entities in which it holds a majority voting interest or has majority ownership and control over the operational, financial and investing decisions of that entity, including Ares affiliates and affiliated funds and co-investment entities for which the Company is the general partner and is presumed to have control and (b) entities that the Company concludes are variable interest entities ("VIEs"), including limited partnerships in which the Company has a nominal economic interest and CLOs for which the Company is deemed to be the primary beneficiary.
	With respect to the Consolidated Funds, which typically represent limited partnerships and single member limited liability companies, the Company earns a fixed management fee based on invested capital or a derivation thereof, and a performance fee based upon the investment returns in excess of a stated benchmark or hurdle rate. The Company, as the general partner of various funds, generally has operational discretion and control, and limited partners have no substantive rights to impact ongoing governance and operating activities of the fund. Such a fund is required to be consolidated unless the Company has a less than significant level of equity at risk. The fund is typically considered a VIE, as described below, to the extent that the Company's equity at risk is less than significant in a given fund and it has no obligation to fund any future losses. In these cases, the fund investors are generally deemed to be the primary beneficiaries, and the Company does not consolidate the fund. In cases where the Company's equity at risk is deemed to be significant, the fund is generally not considered to be a VIE, and the Company will generally consolidate the fund unless the limited partners are granted substantive rights to remove the general partner or liquidate the fund. These rights are known as kick-out rights.
Variable Interest Model	Variable Interest Model
	The Company consolidates entities that are determined to be VIEs where the Company is deemed to be the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity's business and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The consolidation rules require an analysis to determine whether (i) an entity in which the Company holds a variable interest is a VIE and (ii) the Company's involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance related fees), would give the Company a controlling financial interest. The consolidation rules may be deferred for VIEs if the VIE and the reporting entity's interest in VIE meet deferral conditions set forth in FASB Accounting Standards Codification ("ASC") 810-10-65-2. Certain limited partnerships meet the deferral conditions if: (a) the limited partnerships generally have all the attributes of an investment company, (b) the Company does not have the obligation to fund losses of the limited partnership and (c) the limited partnership is not a securitization, asset- backed financing entity or qualifying special purpose vehicle. Where a VIE qualifies for the deferral of the consolidation rules, the analysis is based on consolidation rules prior to January 1, 2010. These rules require an analysis to determine (i) whether an entity in which the Company holds a variable interest is a VIE and (ii) whether the Company's involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance related fees) would be expected to absorb a majority of the variability of the entity. Under either guideline, the Company determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders the conclusion at each reporting date. In evaluating whether the Company is the primary beneficiary, the Company evaluates its direct and indirect economic interests in the entity. The consolidation analysis is generally performed qualitatively; however, if the primary beneficiary is not readily determinable, a quantitative assessment may also be performed. This analysis requires judgment. These judgments include: (1) determining whether the equity investment at risk is sufficient to permit the entity to finance its activities without additional subordinated financial support, (2) evaluating whether the equity holders, as a group, can make decisions that have a significant effect on the success of the entity, (3) determining whether two or more parties' equity interests should be aggregated, (4) determining whether the equity investors have proportionate voting rights to their obligations to absorb losses or rights to receive returns from an entity, (5) evaluating the nature of relationships and activities of the parties involved in determining which party within a related-party group is most closely associated with a VIE and (6) estimating cash flows in evaluating which member within the equity group absorbs a majority of the expected losses and hence would be deemed the primary beneficiary.
	As of March 31, 2015 and December 31, 2014, assets of consolidated VIEs reflected in the Condensed Consolidated Statements of Financial Condition were $14.3 billion and $14.2 billion, respectively, and are presented within "Assets of Consolidated Funds." As of March 31, 2015 and December 31, 2014, liabilities of consolidated VIEs reflected in the Condensed Consolidated Statements of Financial Condition were $13.3 billion and $13.2 billion, respectively, and are presented within "Liabilities of Consolidated Funds." The holders of the consolidated VIEs' liabilities do not have recourse to the Company other than to the assets of the consolidated VIEs. The assets and liabilities of the consolidated VIEs are comprised primarily of investment securities and loan obligations, respectively. All significant intercompany transactions and balances have been eliminated in consolidation.
	As of March 31, 2015 and December 31, 2014, the Company held $178.2 million and $193.0 million of investments in these consolidated VIEs, respectively, which represents its maximum exposure to loss. The maximum exposure to loss represents the Company's total investment in these entities.
	Certain funds that have historically been consolidated in the financial statements are no longer consolidated because, as of the reporting period: (a) they were liquidated or dissolved, including one and three funds for the three months ended March 31, 2015 and 2014, respectively, (b) the Company no longer holds a majority voting interest, including none and four funds for the three months ended March 31, 2015 and 2014, respectively, or (c) the Company is no longer deemed to be the primary beneficiary of the VIEs as it has no economic interest, no obligation to absorb losses and no significant rights to receive benefits from the VIEs, including eight and eleven funds for the three months ended March 31, 2015 and 2014, respectively. For deconsolidated funds, the Company continues as the general partner and/or investment manager until such funds are fully liquidated.
Equity Appropriated for Consolidated Funds	Equity Appropriated for Consolidated Funds
	As of March 31, 2015 and December 31, 2014, the Company consolidated 26 and 31 CLOs, respectively. CLOs are investment vehicles created for the sole purpose of issuing collateralized loan obligations. Upon consolidation, the Company elected the fair value option for eligible liabilities to mitigate accounting mismatches between the carrying value of the assets and liabilities. The Company accounts for the excess in fair value of assets over liabilities upon initial consolidation of funds as an increase in equity appropriated for Consolidated Funds. Net income (loss) of the CLOs is allocated to equity appropriated for Consolidated Funds.
	The loan obligations issued by the CLOs are backed by diversified collateral asset portfolios and by structured debt or equity. In exchange for managing the collateral for the CLOs, the Company earns management fees, including, in some cases, senior and subordinated management fees and contingent performance fees. In cases where the Company earns fees from a fund that it consolidates with the CLOs, those fees have been eliminated as intercompany transactions. The Company's holdings in these CLOs are generally subordinated to other interests in the entities and entitle the Company to receive a pro rata portion of the residual cash flows, if any, from the entities. Additionally, the Company may invest in other senior secured notes, which are repaid based on available cash flows subject to priority of payments under each Consolidated CLO's governing documents. Investors in the CLOs generally have no recourse against the Company for any losses sustained in the capital structure of each CLO.
Investments in Non-Consolidated Variable Interest Entities	Investments in Non-Consolidated Variable Interest Entities
	The Company holds interests in certain VIEs that are not consolidated because the Company has determined it is not the primary beneficiary. The Company's interest in such entities generally is in the form of direct equity interests and fixed fee arrangements. The maximum exposure to loss represents the potential loss of assets by the Company relating to these non-consolidated entities. There is no difference between the carrying value and fair value as investments in the non-consolidated VIEs are carried at fair value. The Company's interests and the Consolidated Funds' interests in these non-consolidated VIEs and their respective maximum exposure to loss relating to non-consolidated VIEs are as follows:
		As of March 31,		As of December 31,
		2015		2014
	Maximum exposure to loss attributable to the Company's investment in non-consolidated VIEs	$	16,741	$	14,851
	Maximum exposure to loss attributable to Consolidated Funds' investments in non-consolidated VIEs	$	2,236	$	2,519
Basis of Accounting	Basis of Accounting
	The accompanying condensed consolidated financial statements are prepared in accordance with GAAP. Certain comparative amounts for prior periods have been reclassified to conform to the current year's presentation. Management has determined that the Company's Consolidated Funds are investment companies under GAAP for the purposes of financial reporting based on the following characteristics: the Consolidated Funds obtain funds from one or more investors and provide investment management services and the Consolidated Funds' business purpose and substantive activities are investing funds for returns from capital appreciation and/or investment income. Therefore, investments of Consolidated Funds are recorded at fair value and the unrealized appreciation (depreciation) in an investment's fair value is recognized on a current basis in the Condensed Consolidated Statements of Operations. Additionally, the Consolidated Funds do not consolidate their majority-owned and controlled investments in portfolio companies. In the preparation of these condensed consolidated financial statements, the Company has retained the specialized accounting guidance for the Consolidated Funds under GAAP.
	All of the investments held and CLO loan obligations issued by the Consolidated Funds are presented at their estimated fair values in the Company's Condensed Consolidated Statements of Financial Condition. The excess of the CLO assets over the CLO liabilities upon consolidation is reflected in the Company's Condensed Consolidated Statements of Financial Condition as equity appropriated for Consolidated Funds. Net income attributable to the investors in the CLOs is included in net income (loss) attributable to non-controlling interests in Consolidated Funds in the Condensed Consolidated Statements of Operations and equity appropriated for Consolidated Funds in the Condensed Consolidated Statements of Financial Condition.
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make assumptions and estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Management's estimates are based on historical experiences and other factors, including expectations of future events that management believes to be reasonable under the circumstances. These assumptions and estimates require management to exercise judgment in the process of applying the Company's accounting policies. Assumptions and estimates regarding the valuation of investments and their resulting impact on performance fee revenue and performance fee compensation involve a high degree of judgment and complexity, and these assumptions and estimates may be significant to the condensed consolidated financial statements. Actual results could differ from these estimates and such differences could be material.
Non-Controlling Interests in Ares Operating Group Entities	Non-Controlling Interests in Ares Operating Group Entities
	Following the Reorganization, non-controlling interests in Ares Operating Group entities (collectively, the "Ares Operating Group Units" or "AOG Units") represent a component of equity and net income attributable to the owners of AOG Units that are not held directly or indirectly by Ares Management, L.P. These interests are adjusted for contributions to and distributions from Ares Operating Group entities during the reporting period and are allocated income from the Ares Operating Group entities based on their historical ownership percentage for the proportional number of days in the reporting period.
	For the periods presented prior to the Reorganization, non-controlling interests in Ares Operating Group entities represent equity interests and net income attributable to various minority non-control oriented strategic investment partners, which were reflected as non-controlling interests in the Predecessor's historical results.
Redeemable Interest in Ares Operating Group Entities	Redeemable Interest in Ares Operating Group Entities
	Redeemable interests in Ares Operating Group entities represent a portion of the collective ownership interest in Ares Operating Group Units granted to professionals of the Company in connection with the Company's acquisition of Indicus Advisors, LLP ("Indicus") during 2011. This ownership interest may be redeemed for a cash payment of $20.0 million provided that a portion of such interests are subject to certain conditions relating to continued employment. Income is allocated in proportion to the redeemable interests' ownership percentage in Ares Operating Group Units.
Income Allocation	Income Allocation
	Income (loss) before taxes is allocated based on each partner's average daily ownership of the Ares Operating Group entities for each year presented. The net income attributable to Ares Management, L.P. for the three months ended March 31, 2015 represents its average daily ownership of 37.85%.
Equity-Method Investments	Equity-Method Investments
	The Company accounts for its investments held by its operating subsidiary, and in which it has or is otherwise presumed to have significant influence, including investments in unconsolidated funds and strategic investments, using the equity-method of accounting or at fair value pursuant to the fair value option permitted by FASB ASC 825, Financial Instruments.
	Unless the Company elects the fair value option, the carrying value of investments accounted for using equity-method accounting is determined based on amounts invested by the Company, adjusted for the equity in earnings or losses of the investee allocated based on the respective partnership agreements, less distributions received. The Company evaluates the equity-method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. The Company's share of the investee's income and expenses for the Company's equity-method investments is included within net realized gain (loss) on investments on the Condensed Consolidated Statements of Operations.
	The fair value option permits the irrevocable fair value option election on an instrument-by-instrument basis at initial recognition of an asset or liability or upon an event that gives rise to a new basis of accounting for that instrument. The Company elected the fair value option for certain of its equity-method investments. Unrealized appreciation (depreciation) and realized gains (losses) from the Company's equity-method investments at fair value are included within net change in unrealized appreciation (depreciation) on investments and net realized gain (loss) on investments, respectively, on the Condensed Consolidated Statements of Operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In February 2015, the FASB amended the consolidation standards for reporting entities that are required to evaluate whether they should consolidate certain legal entities. Under the new guidance, all legal entities are subject to reevaluation under the revised consolidation model. Specifically, the guidance (i) modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities; (ii) eliminates the presumption that a general partner should consolidate a limited partnership; (iii) affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; and (iv) provides a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940, as amended for registered money market funds. The amendments are effective for annual reporting periods beginning after December 15, 2015. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.
	In April 2015, the FASB issued guidance simplifying the presentation of debt issuance costs. The amendments require that debt issuance costs related to recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the new guidance. The amendments are effective for annual reporting periods, including interim periods within those reporting periods, beginning after December 15, 2015, and early adoption is permitted. The guidance is to be applied on a retrospective basis and accounted for as a change in accounting principle. The Company has elected to adopt this guidance in this Quarterly Report on Form 10-Q as of and for the three months ended March 31, 2015. Accordingly, unamortized debt issuance costs as of March 31, 2015 of $7.2 million for the Company and $5.9 million for the Consolidated Funds are reported as a reduction from the carrying amount of the respective debt obligations in the Condensed Consolidated Statements of Financial Condition. Unamortized debt issuance costs of $2.3 million as of December 31, 2014, which were previously reported in other assets in the Condensed Consolidated Statements of Financial Condition, have been reclassified as a deduction from the carrying amount of the respective debt. Unamortized debt issuance costs of $5.3 million related to the Company's Credit Facility (as defined in Note 8), continue to be included in other assets in the Condensed Consolidated Statements of Financial Condition as of December 31, 2014, as there was no balance outstanding under the Credit Facility as of December 31, 2014. Unamortized debt issuance costs of $6.3 million as of December 31, 2014, which were reported in other assets of the Consolidated Funds in the Condensed Consolidated Statements of Financial Condition, have been reclassified as a deduction from the carrying amount of the respective debt. The changes represent the change in accounting principle that has been applied to all periods presented for consistency.
	In May 2015, the FASB issued guidance removing the requirement to categorize within the fair value hierarchy all investments for which fair value is measured using the net asset value per share practical expedient. Removing these investments from the fair value hierarchy will eliminate diversity in current practice resulting from the way in which investments measured at net asset value per share with future redemption dates are classified and ensure that all investments categorized in the fair value hierarchy are classified using a consistent approach. Investments that calculate net asset value per share, but for which the practical expedient is not applied, will continue to be included in the fair value hierarchy. The amendments are effective for public entities for annual reporting periods beginning after December 15, 2015 and interim periods within those reporting periods and should be applied retrospectively to all periods presented. Early adoption of the amendments is permitted. The Company is currently evaluating the impact of this guidance on its condensed consolidated financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2015
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Schedule of interests in non-consolidated VIEs and respective maximum exposure to loss relating to non-consolidated VIEs
		As of March 31,		As of December 31,
		2015		2014
	Maximum exposure to loss attributable to the Company's investment in non-consolidated VIEs	$	16,741	$	14,851
	Maximum exposure to loss attributable to Consolidated Funds' investments in non-consolidated VIEs	$	2,236	$	2,519

BUSINESS_COMBINATIONS_GOODWILL1

BUSINESS COMBINATIONS, GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2015
BUSINESS COMBINATIONS, GOODWILL AND INTANGIBLE ASSETS
Summary of consideration transferred
	Cash		$	64,532
	Equity (1,578,947 Ares Operating Group units)			25,468
	Contingent consideration			59,171
	Total		$	149,171
Summary of the estimated fair value of the assets acquired and liabilities assumed
	Cash		$	95
	Other tangible assets			610
	Intangible assets:
	Management contracts			48,521
	Client relationships			38,600
	Trade name			3,200
	Total intangible assets			90,321
	Total identifiable assets acquired			91,026
	Accounts payable, accrued expenses and other liabilities			455
	Total liabilities assumed			455
	Net identifiable assets acquired		$	90,571
	Goodwill:
	Assembled workforce		$	8,300
	Others			50,300
	Total goodwill			58,600
	Net assets acquired		$	149,171
Schedule of carrying value for the Company's intangible assets
			As of			As of
			March 31,			December 31,
			2015			2014
	Finite-lived intangible assets		$	203,899		$	114,102
	Less: accumulated amortization			(83,631	)		(73,154	)
	Finite-lived intangible assets, net			120,268			40,948
	Goodwill			144,080			85,582
	Total intangible assets and goodwill, net		$	264,348		$	126,530
Schedule of carrying value, net of accumulated amortization, for the Company's intangible assets
			As of			As of
			March 31,			December 31,
			2015			2014
	Previously acquired management contracts(1)		$	113,578		$	114,102
	EIF management contracts			48,521			—
	EIF client relationships			38,600			—
	EIF trade name			3,200			—
	Total intangible assets acquired			203,899			114,102
	Less: accumulated amortization			(83,631	)		(73,154	)
	Intangible assets, net		$	120,268		$	40,948
	-1	Intangibles relating to London based asset manager are recorded in Pounds Sterling and are translated at spot rate at each reporting date.

INVESTMENTS_Tables

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Parent Company
Investments
Schedule of equity method investments
			As of March 31,			As of December 31,
			2015			2014
	Equity-method investment		$	3,884		$	3,728
	Equity-method investment at fair value			5,000			—
	Total equity-method investment		$	8,884		$	3,728
Summary of investments held
			Fair value at						Fair value as a
									percentage of total
									investments at
			March 31,			December 31,			March 31,			December 31,
			2015			2014			2015			2014
	Private Investment Partnership Interests:
	AREA European Property Enhancement Program L.P.		$	1,989		$	1,760			1.0	%		1.0	%
	AREA Sponsor Holdings LLC			42,027			40,296			22.1	%		23.6	%
	Ares Capital Europe II (D), L.P.			19,294			15,592			10.2	%		9.2	%
	Ares Capital Europe II (E), L.P.(1)			35			31			0.0	%		0.0	%
	Ares Centre Street Partnership, L.P.			2,471			256			1.3	%		0.2	%
	Ares Corporate Opportunities Fund, L.P.(2)			576			777			0.3	%		0.5	%
	Ares Corporate Opportunities Fund IV, L.P.			27,233			21,836			14.4	%		12.8	%
	Ares Credit Strategies Fund II, L.P.			636			627			0.3	%		0.4	%
	Ares Credit Strategies Fund III, L.P.			19			19			0.0	%		0.0	%
	Ares European Credit Strategies Fund (C) L.P(1).			547			497			0.3	%		0.3	%
	Ares European Real Estate Fund IV L.P.			1,923			2,455			1.0	%		1.4	%
	Ares Multi-Strategy Credit Fund V (H), L.P.			1,088			1,068			0.6	%		0.6	%
	Ares Special Situations Fund I-B, L.P.			1			2			0.0	%		0.0	%
	Ares Special Situations Fund III, L.P.			27,452			26,867			14.5	%		15.8	%
	Ares Special Situations Fund IV, L.P.			6,622			—			3.5	%		—
	Ares SSF Riopelle, L.P.(3)			3,915			4,211			2.1	%		2.5	%
	Ares Strategic Investment Partners, L.P.			76			75			0.0	%		0.0	%
	Ares Strategic Investment Partners III, L.P.			—			2,672			—			1.6	%
	Ares Strategic Real Estate Program—HHC, LLC			4,344			3,094			2.3	%		1.8	%
	Ares US Real Estate Fund VIII, L.P.(3)			2,877			1,574			1.5	%		0.9	%
	Resolution Life L.P.			45,348			45,348			23.9	%		26.6	%
	Total private investment partnership interests (cost: $147,712 and $128,756 at March 31, 2015 and December 31, 2014, respectively)			188,473			169,057			99.3	%		99.2	%
	Common Stock:
	Ares Multi-Strategy Credit Fund, Inc.			95			89			0.1	%		0.1	%
	Total common stock (cost: $110 and $108 at March 31, 2015 and December 31, 2014, respectively)			95			89			0.1	%		0.1	%
	Corporate Bonds:
	Ares Commercial Real Estate Corporation Convertible Senior Notes			1,178			1,178			0.6	%		0.7	%
	Total corporate bond (cost: $1,150, at March 31, 2015 and December 31, 2014, respectively)			1,178			1,178			0.6	%		0.7	%
	Total fair value investments (cost: $148,972 and $130,014 at March 31, 2015 and December 31, 2014, respectively)		$	189,746		$	170,324			100.0	%		100.0	%
	-1	Denominated in foreign currency; fair value is translated into U.S. Dollars
	-2	Security represents the sole investment held by ACOF Co-Investors LLC
	-3	Represents underlying security that is held through multiple vehicles
Consolidated Funds
Investments
Summary of investments held
			Fair value at						Fair value as a
									percentage of total
									investments at
			March 31,			December 31,			March 31,			December 31,
			2015			2014			2015			2014
	United States:
	Fixed income securities:
	Consumer discretionary		$	3,232,955		$	3,136,899			17.0	%		16.3	%
	Consumer staples			251,814			221,708			1.3	%		1.2	%
	Energy			304,943			416,861			1.6	%		2.2	%
	Financials			473,222			401,673			2.5	%		2.1	%
	Healthcare, education and childcare			1,262,427			1,191,619			6.6	%		6.2	%
	Industrials			1,639,565			1,717,523			8.6	%		9.0	%
	Information technology			787,710			745,920			4.1	%		3.9	%
	Materials			456,200			393,569			2.4	%		2.1	%
	Partnership and LLC interests			14,839			16,256			0.1	%		0.1	%
	Telecommunication services			1,347,337			1,287,688			7.1	%		6.7	%
	Utilities			201,436			223,553			1.1	%		1.2	%
	Total fixed income securities (cost: $10,029,620 and $9,928,006, at March 31, 2015 and December 31, 2014, respectively)			9,972,448			9,753,269			52.4	%		51.0	%
	Equity securities:
	Consumer discretionary			2,958,697			2,852,369			15.7	%		14.9	%
	Consumer staples			499,372			443,711			2.6	%		2.3	%
	Energy			82,451			150,755			0.4	%		0.8	%
	Financials			10,223			8,272			0.1	%		0.0	%
	Healthcare, education and childcare			533,239			464,159			2.8	%		2.4	%
	Industrials			124,747			128,247			0.7	%		0.7	%
	Partnership and LLC interests			114,040			89,105			0.6	%		0.5	%
	Telecommunication services			9,643			16,576			0.1	%		0.1	%
	Total equity securities (cost: $2,957,558 and $2,964,900 at March 31, 2015 and December 31, 2014, respectively)			4,332,412			4,153,194			23.0	%		21.7	%
			Fair value at						Fair value as a
									percentage of total
									investments at
			March 31,			December 31,			March 31,			December 31,
			2015			2014			2015			2014
	Europe:
	Fixed income securities:
	Consumer discretionary			887,516			1,080,270			4.7	%		5.6	%
	Consumer staples			108,667			126,766			0.6	%		0.7	%
	Energy			5,138			16,509			0	%		0.1	%
	Financials			362,526			345,811			1.9	%		1.8	%
	Healthcare, education and childcare			252,273			303,116			1.3	%		1.6	%
	Industrials			441,604			526,214			2.3	%		2.8	%
	Information technology			145,224			130,504			0.8	%		0.7	%
	Materials			371,322			326,659			2	%		1.7	%
	Telecommunication services			595,715			833,015			3.1	%		4.4	%
	Utilities			1,123			2,516			0	%		0	%
	Total fixed income securities (cost: $3,232,752 and $3,813,343 at March 31, 2015 and December 31, 2014, respectively)			3,171,108			3,691,380			16.7	%		19.4	%
	Equity securities:
	Consumer discretionary			3,678			2,940			0	%		0	%
	Consumer staples			895			862			0	%		0	%
	Healthcare, education and childcare			26,455			27,774			0.1	%		0.1	%
	Industrials			—			76			—			0	%
	Partnership and LLC interests			19,012			17,107			0.1	%		0.1	%
	Telecommunication services			5,092			4,686			0	%		0	%
	Total equity securities (cost: $102,244 and $98,913 at March 31, 2015 and December 31, 2014, respectively)			55,132			53,445			0.2	%		0.2	%
	Asia and other:
	Fixed income securities:
	Consumer discretionary			68,495			73,250			0.4	%		0.4	%
	Financials			480,936			493,618			2.5	%		2.6	%
	Healthcare, education and childcare			38,835			41,536			0.2	%		0.2	%
	Telecommunication services			37,084			30,777			0.2	%		0.2	%
	Total fixed income securities (cost: $570,443 and $579,436, at March 31, 2015 and December 31, 2014, respectively)			625,350			639,181			3.3	%		3.4	%
	Equity securities:
Consumer discretionary			66,861			89,897			0.4	%		0.5	%
Consumer staples			62,778			62,467			0.3	%		0.3	%
Healthcare, education and childcare			32,598			33,610			0.2	%		0.2	%
Materials			52,947			52,947			0.3	%		0.3	%
Partnership and LLC interests			16,287			13,478			0.1	%		0.1	%
Utilities			8,377			8,994			0	%		0	%
Total equity securities (cost: $179,047 and $184,022 at March 31, 2015 and December 31, 2014, respectively)			239,848			261,393			1.3	%		1.4	%
Canada:
Fixed income securities:
Consumer discretionary			62,163			71,379			0.3	%		0.4	%
Consumer staples			12,747			—			0.1	%		—
Energy			60,059			60,605			0.3	%		0.3	%
Healthcare, education and childcare			95,322			84,470			0.5	%		0.4	%
Industrials			36,999			30,009			0.2	%		0.2	%
Materials			—			5,625			—			0	%
Partnership and LLC interests			3,807			1,327			0	%		0	%
Telecommunication services			107,811			109,805			0.6	%		0.6	%
Total fixed income securities (cost: $408,532 and $396,108 at March 31, 2015 and December 31, 2014, respectively)			378,908			363,220			2	%		1.9	%
Equity securities:
Energy			—			—			—			—
Total equity securities (cost: $68,249 and $68,249 at March 31, 2015 and December 31, 2014, respectively)			—			—			—			—
Australia:
Fixed income securities:
Energy			72,909			66,150			0.4	%		0.3	%
Industrials			40,350			32,146			0.2	%		0.2	%
Utilities			89,428			94,738			0.5	%		0.5	%
Total fixed income securities (cost: $222,035 and $213,759 at March 31, 2015 and December 31, 2014, respectively)			202,687			193,034			1.1	%		1	%
Equity Securities:
Telecommunication services			7,765			7,547			0	%		0	%
Utilities			5,285			8,287			0	%		0	%
Total equity securities (cost: $22,233 and $22,233 at March 31, 2015 and December 31, 2014, respectively)			13,050			15,834			0	%		0	%
Total fixed income securities			14,350,501			14,640,084			75.5	%		76.7	%
Total equity securities			4,640,442			4,483,866			24.5	%		23.3	%
Total investments, at fair value		$	18,990,943		$	19,123,950			100	%		100	%
Securities sold short, at fair value		$	(3,763	)	$	(3,763	)		100	%		100	%

FAIR_VALUE_Tables

FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2015
FAIR VALUE
Summary of changes in the fair value of the Level III investments for the CLO loan obligations
			For the three months ended
			March 31,
			2015			2014
	Balance, beginning of period		$	12,049,019		$	11,534,956
	Deconsolidation of funds			(571	)		(3,033	)
	Borrowings			602,074			23,528
	Paydowns(1)			(218,496	)		(472,434	)
	Realized and unrealized gains, net			(277,349	)		(16,764	)
	Balance, end of period		$	12,154,677		$	11,066,253
	-1	Amounts include distributions made to Subordinated Notes equity holders.
Summary of fair value by segment along with the remaining unfunded commitment and any redemption restriction of investments valued using NAV per share	As of March 31, 2015
	Strategy		Fair Value			Unfunded			Redemption
						Commitments			Restriction
	Direct Lending Group		$	40,559		$	20,792			(1)(3)
	Real Estate Group			59,541			87,311			-1
	Tradable Credit Group			56,878			51,048			(1)(2)(3)
	Private Equity Group			139,293			77,284			-1
	Totals		$	296,271		$	236,435
	As of December 31, 2014
	Strategy		Fair Value			Unfunded			Redemption
						Commitments			Restriction
	Direct Lending Group		$	30,501		$	26,854			(1)(3)
	Real Estate Group			49,178			45,239			-1
	Tradable Credit Group			52,001			7,420			(1)(2)(3)
	Private Equity Group			111,719			97,194			-1
	Totals		$	243,399		$	176,707
	-1	Certain funds within these strategies are closed-ended and generally do not permit investors to redeem their interests. Distributions are received as the underlying investments are liquidated.
	-2	Certain funds within these strategies are open-ended and subject to a lock-up period of nine months after the closing date, after which an investor has the right to withdraw its capital. Distributions are received as the underlying investments are liquidated.
	-3	Certain funds within these strategies are separately managed investment vehicles, which may be redeemed only upon dissolution or liquidation of the fund at the discretion of a simple majority of investors. Distributions are received as the underlying investments are liquidated.
Parent Company
FAIR VALUE
Summary of valuation of investments and other financial instruments by fair value hierarchy levels	The tables below summarize the valuation of investments and other financial instruments by fair value hierarchy levels for the Company and Consolidated Funds as of March 31, 2015:
	Investments and Derivatives of the Company
			Level I			Level II			Level III			Total
	Investments, at fair value
	Equity securities		$	95		$	—		$	—		$	95
	Bonds			—			1,178			—			1,178
	Partnership interests			—			—			193,473			193,473
	Total investments, at fair value			95			1,178			193,473			194,746
	Derivative assets, at fair value
	Forward foreign currency contracts			—			8,217			—			8,217
	Total derivative assets, at fair value			—			8,217			—			8,217
	Total		$	95		$	9,395		$	193,473		$	202,963
	Derivative liabilities, at fair value
	Forward foreign currency contracts		$	—		$	(1,995	)	$	—		$	(1,995	)
	Interest rate contracts			—			(978	)		—			(978	)
	Total derivative liabilities, at fair value		$	—		$	(2,973	)	$	—		$	(2,973	)
	The tables below summarize the valuation of investments and other financial instruments by fair value hierarchy levels for the Company and Consolidated Funds as of December 31, 2014:
	Investments and Derivatives of the Company
			Level I			Level II			Level III			Total
	Investments, at fair value
	Equity securities		$	89		$	—		$	—		$	89
	Bonds			—			1,178			—			1,178
	Partnership interests			—			—			169,057			169,057
	Total investments, at fair value			89			1,178			169,057			170,324
	Derivative assets, at fair value
	Forward foreign currency contracts			—			5,721			—			5,721
	Purchased option contracts			—			1,902			—			1,902
	Total derivative assets, at fair value			—			7,623			—			7,623
	Total		$	89		$	8,801		$	169,057		$	177,947
	Derivative liabilities, at fair value
	Forward foreign currency contracts		$	—		$	(2,003	)	$	—		$	(2,003	)
	Interest rate contracts			—			(847	)		—			(847	)
	Total derivative liabilities, at fair value		$	—		$	(2,850	)	$	—		$	(2,850	)
Summary of changes in the fair value of the Level III investments
	The following tables set forth a summary of changes in the fair value of the Level III investments for the three months ended March 31, 2015:
	Investments and Derivatives of the Company
			Partnership
			Interests
	Balance, beginning of period		$	169,057
	Purchases(1)			30,516
	Sales(2)			(7,916	)
	Realized and unrealized appreciation (depreciation), net			1,816
	Balance, end of period		$	193,473
	Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date		$	1,947
	-1	Purchases include paid-in-kind interest and securities received in connection with restructurings.
	-2	Sales include paid-in-kind interest, principal redemptions and securities disposed of in connection with restructurings.
	The following tables set forth a summary of changes in the fair value of the Level III investments for the three months ended March 31, 2014:
	Investments and Derivatives of the Company
			Partnership
			Interests
	Balance, beginning of period		$	88,177
	Investment in deconsolidated fund(1)			9,951
	Purchases(2)			21,504
	Sales(3)			(23,124	)
	Realized and unrealized appreciation (depreciation), net			23,834
	Balance, end of period		$	120,342
	Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date		$	4,286
	-1	Represents investment in Consolidated Fund that was deconsolidated during the period. Balance was previously eliminated upon consolidation and not reported as Level III investment.
	-2	Purchases include paid-in-kind interest and securities received in connection with restructurings.
	-3	Sales include paid-in-kind interest, principal redemptions and securities disposed of in connection with restructurings.
Summary of quantitative inputs and assumptions used for the Company's Level III inputs	The following tables summarize the quantitative inputs and assumptions used for the Company's Level III inputs as of March 31, 2015:
	Investments		Fair			Valuation Technique(s)		Unobservable		Range
			Value					Input(s)
	Assets
	Partnership interests		$	143,125		NAV		N/A		N/A
	Partnership interests			50,348		Recent Transaction Price(1)		N/A		N/A
	Total		$	193,473
	-1	Recent transaction price consists of securities purchased or restructured within six months. The Company has determined that there has been no change to the valuation based on the underlying assumptions used at the closing of such transactions.
	The following tables summarize the quantitative inputs and assumptions used for the Company's Level III inputs as of December 31, 2014:
	Investments		Fair			Valuation Technique(s)		Unobservable		Range
			Value					Input(s)
	Assets
	Partnership interests		$	123,709		NAV		N/A		N/A
	Partnership interests			45,348		Recent Transaction Price(1)		N/A		N/A
	Total		$	169,057
	-1	Recent transaction price consists of securities purchased or restructured within six months. The Company has determined that there has been no change to the valuation based on the underlying assumptions used at the closing of such transactions.
Consolidated Funds
FAIR VALUE
Summary of valuation of investments and other financial instruments by fair value hierarchy levels
	The tables below summarize the valuation of investments and other financial instruments by fair value hierarchy levels for the Company and Consolidated Funds as of March 31, 2015:
	Investments and Derivatives of Consolidated Funds
			Level I			Level II			Level III			Total
	Investments, at fair value
	Equity securities		$	609,982		$	573,582		$	3,321,849		$	4,505,413
	Bonds			—			909,652			551,906			1,461,558
	Loans			—			11,742,281			584,377			12,326,658
	Collateralized loan obligations			—			—			528,180			528,180
	Partnership interests			—			—			167,985			167,985
	Other			—			—			1,149			1,149
	Total investments, at fair value			609,982			13,225,515			5,155,446			18,990,943
	Derivative assets, at fair value
	Foreign exchange contracts			—			873			—			873
	Purchased options			—			890			—			890
	Other			—			1,933			—			1,933
	Total derivative assets, at fair value			—			3,696			—			3,696
	Total		$	609,982		$	13,229,211		$	5,155,446		$	18,994,639
	Derivative liabilities, at fair value
	Credit contracts		$	—		$	(11,716	)	$	—		$	(11,716	)
	Foreign exchange contracts			—			(9,411	)		—			(9,411	)
	Other			—			—			(38,356	)		(38,356	)
	Total derivative liabilities, at fair value			—			(21,127	)		(38,356	)		(59,483	)
	Loan obligations of CLOs			—			—			(12,154,677	)		(12,154,677	)
	Securities sold short, at fair value			—			(3,763	)		—			(3,763	)
	Total		$	—		$	(24,890	)	$	(12,193,033	)	$	(12,217,923	)
	The tables below summarize the valuation of investments and other financial instruments by fair value hierarchy levels for the Company and Consolidated Funds as of December 31, 2014:
	Investments and Derivatives of Consolidated Funds
			Level I			Level II			Level III			Total
	Investments, at fair value
	Equity securities		$	590,095		$	513,771		$	3,263,311		$	4,367,177
	Bonds			—			1,113,103			565,634			1,678,737
	Loans			—			11,312,518			1,070,494			12,383,012
	Collateralized loan obligations			—			—			556,267			556,267
	Partnership interests			—			—			137,272			137,272
	Other			—			336			1,149			1,485
	Total investments, at fair value			590,095			12,939,728			5,594,127			19,123,950
	Derivative assets, at fair value
	Foreign exchange contracts			—			2,070			—			2,070
	Other			—			1,056			—			1,056
	Total derivative assets, at fair value			—			3,126			—			3,126
	Total		$	590,095		$	12,942,854		$	5,594,127		$	19,127,076
	Derivative liabilities, at fair value
	Forward foreign currency contracts		$	—		$	(6,906	)	$	—		$	(6,906	)
	Credit contracts			—			(13,263	)		—			(13,263	)
	Interest rate swaps			—			(21	)		—			(21	)
	Other			—			—			(22,142	)		(22,142	)
	Total derivative liabilities, at fair value			—			(20,190	)		(22,142	)		(42,332	)
	Loan obligations of CLOs(1)			—			—			(12,049,019	)		(12,049,019	)
	Securities sold short, at fair value			—			(3,763	)		—			(3,763	)
	Total		$	—		$	(23,953	)	$	(12,071,161	)	$	(12,095,114	)
	-1	Ares Enhanced Loan Investment Strategy II, Ltd. ("AELIS II") had not elected to fair value its loan obligation and was therefore carried at cost of $151 through December 31, 2014, after which AELIS II was deconsolidated.
Summary of changes in the fair value of the Level III investments	The following tables set forth a summary of changes in the fair value of the Level III investments for the three months ended March 31, 2015:
	Investments and Derivatives of Consolidated Funds
			Equity			Fixed			Partnership			Other			Total
			Securities			Income			Interests			Financial
												Instruments
	Balance, beginning of period		$	3,263,311		$	2,192,395		$	137,272		$	(20,993	)	$	5,571,985
	Deconsolidation of funds(3)			(471	)		(1	)		—			—			(472	)
	Transfer in			—			189,684			—			—			189,684
	Transfer out			(163	)		(651,403	)		—			—			(651,566	)
	Purchases(1)			—			159,797			39,582			8			199,387
	Sales(2)			(20,273	)		(171,391	)		(15,155	)		211			(206,608	)
	Accrued discounts/premiums			4,135			(756	)		—			(1,309	)		2,070
	Realized and unrealized appreciation (depreciation), net			75,310			(53,862	)		6,286			(15,124	)		12,610
	Balance, end of period		$	3,321,849		$	1,664,463		$	167,985		$	(37,207	)	$	5,117,090
	Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date		$	62,677		$	(35,936	)	$	6,239		$	(18,511	)	$	14,469
	-1	Purchases include paid-in-kind interest and securities received in connection with restructurings.
	-2	Sales include paid-in-kind interest, principal redemptions and securities disposed of in connection with restructurings.
	-3	Represents investment in Consolidated Fund that was deconsolidated during the period. Balance was previously eliminated upon consolidation and not reported as Level III investment.
	The following tables set forth a summary of changes in the fair value of the Level III investments for the three months ended March 31, 2014:
	Investments and Derivatives of Consolidated Funds
			Equity			Fixed			Partnership			Other			Total
			Securities			Income			Interests			Financial
												Instruments
	Balance, beginning of period		$	2,958,232		$	3,627,153		$	41,001		$	(1,348	)	$	6,625,038
	Deconsolidation of previous funds(1)			8,152			(378,397	)		—			—			(370,245	)
	Transfer in			—			222,382			—			—			222,382
	Transfer out			—			(364,608	)		—			—			(364,608	)
	Purchases(2)			11,337			215,514			2,276			5			229,132
	Sales(3)			(167,142	)		(274,491	)		—			(6,387	)		(448,020	)
	Accrued discounts/premiums			15			10,849			—			—			10,864
	Realized and unrealized appreciation (depreciation), net			14,627			(29,540	)		717			3,277			(10,919	)
	Balance, end of period		$	2,825,221		$	3,028,862		$	43,994		$	(4,453	)	$	5,893,624
	Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date		$	118,757		$	(21,711	)	$	717		$	1,102		$	98,865
	-1	Represents investment in Consolidated Fund that was deconsolidated during the period. Balance was previously eliminated upon consolidation and not reported as Level III investment.
	-2	Purchases include paid-in-kind interest and securities received in connection with restructurings.
	-3	Sales include paid-in-kind interest, principal redemptions and securities disposed of in connection with restructurings.
Summary of quantitative inputs and assumptions used for the Company's Level III inputs
	The following tables summarize the quantitative inputs and assumptions used for the Consolidated Funds' Level III inputs as of March 31, 2015:
	Investments		Fair Value			Valuation Technique(s)		Unobservable Input(s)		Range		Weighted
												Average
	Assets
	Equity securities
	Consumer discretionary			3,678		EV market multiple analysis		EBITDA multiple		9.4x		9.4x
			$
				219,945		Market approach (comparable companies)		Book value multiple		1.8x - 2.0x		1.9x
				2,175,607		Market approach (comparable companies)		EBITDA multiple		8.5x - 15.0x		10.8x
				711		Other		Future distribution estimates		82.40%		82.40%
				4,236		Other		Illiquidity discount		15.00%		15.00%
	Consumer staples			895		EV market multiple analysis		EBITDA multiple		7.9x		7.9x
				14,492		Market approach (comparable companies)		EBITDA multiple		7.0x		7.0x
				41,561		Market approach (comparable companies)(2)		Net income multiple		11.0x		11.0x
	Energy			68,000		Discounted Cash Flow		Discount rate		8.00%		8.00%
								EBITDA multiple		6.0x		6.0x
	Financials			9,171		EV market multiple analysis		EBITDA multiple		10.5x		10.5x
	Healthcare, education, and childcare			26,455		EV market multiple analysis		EBITDA multiple		1.6x - 7.1x		4.5x
				532,156		Market approach (comparable companies)		EBITDA multiple		8.0x - 13.0x		11.1x
				32,598		Market approach (comparable companies)		Net income multiple		35.0x		35.0x
	Industrials			124,682		Market approach (comparable companies)		EBITDA multiple		8.0x - 12.0x		9.8x
	Materials			52,947		Market approach (comparable companies)		Net income multiple		9.0x		9.0x
	Telecommunication services			593		Recent transaction price(1)		N/A		N/A		N/A
				460		EV market multiple analysis		EBITDA multiple		10.0x		10.0x
	Utilities			13,662		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
	Fixed Income securities
	Consumer discretionary			196,267		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
				17,339		EV market multiple analysis		EBITDA multiple		8.0x - 13.5x		12.8x
				59,299		Income approach (other)		Yield		2.5% - 13.0%		11.90%
				122,543		Market approach (comparable companies)		Book value multiple		1.7x - 2.0x		1.9x
				5,265		Recent transaction price(1)		N/A		N/A		N/A
	Consumer staples			493		Discounted cash flow		Discount Rate		20.00%		20.00%
				1,202		Market approach (comparable companies)		EBITDA multiple		6.5x		6.5x
	Financials			527,998		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
				5,274		Discounted cash flow		Discount rate and Cumulative loss rate		16.6% / 8.4%		16.6% / 8.4%
				37,927		Discounted cash flow		Discount rate		11.50%		11.50%
								Constant prepayment rate		0.0% - 50.0%		21.30%
								Constant default rate		2.0% - 10.0%		2.10%
								Recovery rate		10.0% - 80.0%		73.20%
				2,256		Income Approach (Other)		Cash flow % of book value		8.70%		8.70%
				247,584		Income Approach (Other)		Yield		9.5% - 11.5%		10.50%
				7,959		Recent transaction price(1)		N/A		N/A		N/A
	Healthcare, education, and childcare			40,891		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
				19,527		EV market multiple analysis		EBITDA multiple		1.6x - 7.1x		5.6x
				24,605		Income approach (Other)		Yield		6.00%		5.80%
	Industrials			102,659		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
				28,052		Income approach (other)		Yield		5.3% - 13.3%		10.80%
				32,315		Market approach (comparable companies)		EBITDA multiple		9.0x - 12.0x		10.5x
	Information technology			6,837		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
	Materials			142,374		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
	Telecommunication services			35,797		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
	Partnership and LLC interests			149,339		NAV		N/A		N/A		N/A
	Financials			3,807		NAV		N/A		N/A		N/A
				14,839		Discounted Cash Flow		Constant default rate		9.90%		9.90%
								Constant prepayment rate		10.00%		10.00%
								Recovery rate		30.00%		30.00%
	Other
	Healthcare, education, and childcare			1,084		Market approach (comparable companies)		EBITDA multiple		8.8x		8.8x
	Industrials			65		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
	Total assets			5,155,446
			$
	Liabilities
	Loans payable of Consolidated Funds:
Fixed income			11,733,481		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
		$
			353,248		Discounted cash flow		Discount rate		12.0% - 15.0%%		13.00%
							Constant prepayment rate		0.0% - 50.0%		20.00%
							Constant default rate		2.0% - 10.0%		2.00%
							Recovery rate		10.0% - 80.0%		75.00%
			67,948		Discounted cash flow		Discount margin		5.3% - 6.8%		6.10%
							Constant prepayment rate		0% - 50.0%		20.00%
							Constant default rate		2.0% - 10.0%		2.00%
							Recovery rate		10.0% - 80.0%		75.00%
Derivatives instruments of Consolidated Funds			38,356		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Total liabilities			12,193,033
		$
-1	Recent transaction price consists of securities purchased or restructured within the last six months. The Company has determined that there has been no change to the valuation based on the underlying assumptions used at the closing of such transactions.
-2	Valuation technique above includes a 30% liquidity discount on an investment held by a fund within the Private Equity Group.
The following tables summarize the quantitative inputs and assumptions used for the Consolidated Funds' Level III inputs as of December 31, 2014:
Investments		Fair Value			Valuation Technique(s)		Unobservable Input(s)		Range		Weighted
											Average
Assets
Equity securities
Consumer discretionary		$	2,940		EV market multiple analysis		EBITDA multiple		9.4x		9.4x
			208,498		Market approach (comparable companies)		Book value multiple		1.7x - 2.0x		1.9x
			2,121,864		Market approach (comparable companies)		EBITDA multiple		7.0x - 15.0x		10.7x
			979		Other		Future distribution estimates		18.7x		18.7x
			5,140		Other		Illiquidity discount		15.00%		15.00%
Consumer staples			862		EV market multiple analysis		EBITDA multiple		7.9x		7.9x
			10,349		Market approach (comparable companies)		EBITDA multiple		7.0x		7.0x
			44,553		Market approach (comparable companies)(2)		Net income multiple		11.0x		11.0x
Energy			136,045		Discounted Cash Flow		Discount rate		9.00%		9.00%
							EBITDA multiple		7.5x		7.5x
Financials			8,272		EV market multiple analysis		EBITDA multiple		10.5x		10.5x
Healthcare, education, and childcare			27,774		EV market multiple analysis		EBITDA multiple		1.6x - 7.1x		5.4x
			463,075		Market approach (comparable companies)		EBITDA multiple		8.0x - 13.0x		11.2x
			33,610		Market approach (comparable companies)		Net income multiple		35.0x		35.0x
Industrials			76		Recent transaction price(1)		N/A		N/A		N/A
			128,182		Market approach (comparable companies)		EBITDA multiple		8.0x - 12.0x		9.8x
Materials			52,947		Market approach (comparable companies)		Net income multiple		9.0x		9.0x
Telecommunication services			331		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			533		EV market multiple analysis		EBITDA multiple		10.0x		10.0x
Utilities			17,281		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Fixed Income securities
Consumer discretionary			256,994		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			18,205		EV market multiple analysis		EBITDA multiple		9.0x - 11.0x		9.3x
			69,418		Income approach (other)		Yield		2.5% - 18.7%		12.80%
			120,658		Market approach (comparable companies)		Book value multiple		1.7x - 2.0x		1.9x
			15,400		Market approach (comparable companies)		EBITDA multiple		7.5x		7.5x
			5,923		Recent transaction price(1)		N/A		N/A		N/A
Consumer staples			540		Discounted cash flow		Discount Rate		20.00%		20.00%
			776		Market approach (comparable companies)		EBITDA multiple		6.5x		6.5x
			28,965		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Energy			33,687		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Financials			470,417		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			8,551		Discounted cash flow		Discount rate and Cumulative loss rate		13.3% / 10.0%		13.3% / 10.0%
			85,851		Discounted cash flow		Discount rate		11.50%		11.50%
							Constant prepayment rate		0.0% - 50.0%		21.50%
							Constant default rate		2.0% - 10.0%		2.20%
							Recovery rate		10.0% - 80.0%		73.80%
			2,541		Income Approach (Other)		Cash flow % of book value		8.70%		8.70%
			224,245		Income Approach (Other)		Yield		9.5% - 11.5%		10.50%
Healthcare, education, and childcare			168,371		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			20,104		EV market multiple analysis		EBITDA multiple		1.6x - 7.1x		5.6x
			25,549		Income approach (Other)		Yield		6.00%		6.00%
Industrials			196,725		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			43,614		Income approach (other)		Yield		2.5% - 13.5%		12.10%
			32,315		Market approach (comparable companies)		EBITDA multiple		9.0x - 12.0x		10.5x
Information technology			137,042		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Materials			212,022		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Telecommunication services			14,482		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Partnership and LLC interests			119,690		NAV		N/A		N/A		N/A
Financials			17,582		Recent transaction price(1)		N/A		N/A		N/A
Other
Healthcare, education, and childcare			1,084		Market approach (comparable companies)		EBITDA multiple		8.8x		8.8x
Industrials			65		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Total assets		$	5,594,127
Liabilities
Loans payable of Consolidated Funds:
Fixed income		$	11,273,923		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
			499,305		Recent transaction price(1)		N/A		N/A		N/A
			258,096		Discounted cash flow		Discount rate		11.50%		11.50%
							Constant prepayment rate		0.0% - 50.0%		20.40%
							Constant default rate		2.0% - 10.0%		2.10%
							Recovery rate		10.0% - 80.0%		74.60%
			17,079		Discounted cash flow		Discount margin		300 - 800		482.5
							Constant prepayment rate		0% - 50.0%		23.00%
							Constant default rate		2.0% - 10.0%		2.00%
							Recovery rate		10.0% - 80.0%		75.00%
			616		Market approach (other)		Other		N/A		N/A
Derivatives instruments of Consolidated Funds			22,142		Broker quotes and/or 3rd party pricing services		N/A		N/A		N/A
Total liabilities		$	12,071,161
-1	Recent transaction price consists of securities purchased or restructured within the last six months. The Company has determined that there has been no change to the valuation based on the underlying assumptions used at the closing of such transactions.
-2	Valuation technique above includes a 30% liquidity discount on an investment held by a fund within the Private Equity Group.

LOANS_HELD_AS_INVESTMENTS_Tabl

LOANS HELD AS INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
LOANS HELD AS INVESTMENTS
Schedule of estimated fair value and carrying value of the Company's financial instruments carried at cost, less an allowance for loan losses
	As of March 31, 2015
		Level I			Level II		Level III		Total		Carrying
											Value
	Loans held for investments	$	—		$	—	$	86,518	$	86,518	$	85,214
	As of December 31, 2014
		Level I			Level II		Level III		Total		Carrying
											Value
	Loans held for investments	$	—		$	—	$	78,895	$	78,895	$	77,514
Summary of activity in loans held as investments
	Balance at December 31, 2014	$	77,514
	Loan acquisition and origination		183,732
	Allowance for loan losses		(119	)
	Principal repayment		(176,069	)
	Amortization of loan origination fees		156
	Balance as of March 31, 2015	$	85,214
Summary of changes in the allowance for loan losses
	Balance at December 31, 2014	$	1,185
	Increase in allowance for loan losses		119
	Balance as of March 31, 2015	$	1,304
Schedule of loan receivable balance
	As of March 31, 2015
	Loan receivables—unpaid principal balance	$	86,921
	Unamortized loan origination fees		(235	)
	Deferred interest on non-accrual loans		(168	)
	Allowance for loan losses		(1,304	)
	Balance as of March 31, 2015	$	85,214
	As of December 31, 2014
	Loan receivables—unpaid principal balance	$	79,018
	Unamortized loan origination fees		(196	)
	Deferred interest on non-accrual loans		(123	)
	Allowance for loan losses		(1,185	)
	Balance as of December 31, 2014	$	77,514

DERIVATIVE_FINANCIAL_INSTRUMEN1

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Consolidated Funds
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of fair value and notional amounts of derivative contracts by major product type on a gross basis
			As of March 31, 2015
			Assets						Liabilities
	Consolidated Funds		Notional(1)			Fair Value			Notional(1)			Fair Value
	Interest rate contracts		$	37,000		$	—		$	—		$	—
	Credit contracts			101,000			1,153			223,756			11,716
	Foreign exchange contracts			40,330			1,652			152,983			9,411
	Other financial instruments			3,514			891			94,083			38,356
	Total derivatives, at fair value			181,844			3,696			470,822			59,483
	Other—equity(2)			3,706			4,429			—			—
	TOTAL		$	185,550		$	8,125		$	470,822		$	59,483
	-1	Represents the total contractual amount of derivative assets and liabilities outstanding.
	-2	Includes the fair value of warrants and equity distribution rights which are presented within investments, at fair value in the Condensed Consolidated Statements of Financial Condition.
			As of December 31, 2014
			Assets						Liabilities
	Consolidated Funds		Notional(1)			Fair Value			Notional(1)			Fair Value
	Interest rate contracts		$	34,000		$	0		$	10,000		$	21
	Credit contracts			—			—			385,296			13,265
	Foreign exchange contracts			43,303			2,070			207,577			9,991
	Other financial instruments			4,542			1,056			90,302			19,055
	Total derivatives, at fair value			81,845			3,126			693,175			42,332
	Other—equity(2)			79,551			3,866			—			—
	TOTAL		$	161,396		$	6,992		$	693,175		$	42,332
	-1	Represents the total contractual amount of derivative assets and liabilities outstanding.
	-2	Includes the fair value of warrants and equity distribution rights which are presented within investments, at fair value in the Condensed Consolidated Statements of Financial Condition.
Summary of net realized and unrealized appreciation (depreciation) on derivative instruments
			For the three months ended March 31, 2015
	Consolidated Funds		Interest Rate			Credit			Equity			Foreign			Other			Total
			Contracts			Contracts			Contracts			Exchange
												Contracts
	Net realized gain (loss) on investments of Consolidated Funds
	Purchased options		$	—		$	—		$	(2,582	)	$	—		$	—		$	(2,582	)
	Swaps			(135	)		(9,449	)		—			—			(1,146	)		(10,730	)
	Foreign currency forward contracts			—			—			—			3,190			—			3,190
	Total net realized gain (loss) on investments of Consolidated Funds		$	(135	)	$	(9,449	)	$	(2,582	)	$	3,190		$	(1,146	)	$	(10,122	)
	Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds
	Purchased options		$	—		$	—		$	(191	)	$	7		$	—		$	(184	)
	Swaps			135			(113	)		—			—			2,082			2,104
	Warrants(1)			—			—			40			—			—			40
	Foreign currency forward contracts			—			—			—			(434	)		—			(434	)
	Total net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		$	135		$	(113	)	$	(151	)	$	(427	)	$	2,082		$	1,526
	-1	Realized and unrealized gains (losses) on warrants are also reflected in the changes presented within investments, at fair value of the Consolidated Funds in the Condensed Consolidated Statements of Financial Condition.
			For the three months ended March 31, 2014
	Consolidated Funds		Interest Rate			Credit			Equity			Foreign			Other			Total
			Contracts			Contracts			Contracts			Exchange
												Contracts
	Net realized gain (loss) on investments of Consolidated Funds
	Purchased options		$	—		$	—		$	(2,019	)	$	(273	)	$	—		$	(2,292	)
	Written options			—			—			—			1,853			—			1,853
	Swaps			(514	)		(10,206	)		—			—			3,546			(7,174	)
	Warrants(1)			—			—			1,261			—			—			1,261
	Foreign currency forward contracts			—			—			—			(17,888	)		—			(17,888	)
	Total net realized gain (loss) on investments of Consolidated Funds		$	(514	)	$	(10,206	)	$	(758	)	$	(16,308	)	$	3,546		$	(24,240	)
	Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds
	Purchased options		$	—		$	—		$	108		$	(1,663	)	$	(113	)	$	(1,668	)
	Written options			—			—			—			(1,214	)		—			(1,214	)
	Swaps			(342	)		3,476			—			(15	)		(3,591	)		(472	)
	Interest rate caps/floor			(4	)		—			—			—			—			(4	)
	Warrants(1)			—			—			(7,180	)		—			—			(7,180	)
	Foreign currency forward contracts			(22	)		—			1,222			17,142			—			18,342
	Total net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		$	(368	)	$	3,476		$	(5,850	)	$	14,250		$	(3,704	)	$	7,804
	-1	Realized and unrealized gains (losses) on warrants are also reflected in the changes presented within investments in the Condensed Consolidated Statements of Financial Condition.
Schedule of setoff and related arrangements associated with the derivative and other financial instruments	Derivative and Other Instruments of the Consolidated Funds as of March 31, 2015
												Gross Amounts Not Offset
												in the Statement of
			Gross Amounts									Financial Position
			of
			Recognized Assets
			(Liabilities)			Gross Amounts			Net Amounts of			Financial			Cash Collateral			Net Amount
						Offset in Assets			Assets (Liabilities)			Instruments			Received
						(Liabilities)			Presented						(Pledged)
	Assets:
	Derivatives		$	4,877		$	1,181		$	3,696		$	727		$	(1,080	)	$	4,049
	Reverse repurchase, securities borrowing, and similar arrangements(1)			4,150			—			4,150			—			—			4,150
	Total			9,027			1,181			7,846			727			(1,080	)		8,199
	Liabilities:
	Derivatives			(60,664	)		(1,181	)		(59,483	)		(727	)		(11,119	)		(47,637	)
	Total			(60,664	)		(1,181	)		(59,483	)		(727	)		(11,119	)		(47,637	)
	Grand Total		$	(51,637	)	$	—		$	(51,637	)	$	—		$	(12,199	)	$	(39,438	)
	Derivative and Other Instruments of the Consolidated Funds as of December 31, 2014
												Gross Amounts Not Offset
												in the Statement of
			Gross Amounts									Financial Position
			of
			Recognized Assets
			(Liabilities)			Gross Amounts			Net Amounts of			Financial			Cash Collateral			Net Amount
						Offset in Assets			Assets (Liabilities)			Instruments			Received
						(Liabilities)			Presented						(Pledged)
	Assets:
	Derivatives		$	4,940		$	1,814		$	3,126		$	989		$	(2,295	)	$	4,432
	Reverse repurchase, securities borrowing, and similar arrangements(1)			4,150			—			4,150			—			—			4,150
	Total			9,090			1,814			7,276			989			(2,295	)		8,582
	Liabilities:
	Derivatives			(44,146	)		(1,814	)		(42,332	)		(989	)		(12,386	)		(28,957	)
	Total			(44,146	)		(1,814	)		(42,332	)		(989	)		(12,386	)		(28,957	)
	Grand Total		$	(35,056	)	$	—		$	(35,056	)	$	—		$	(14,681	)	$	(20,375	)
	-1	Included within investments, at fair value in the Condensed Consolidated Statements of Financial Condition.
Parent Company
DERIVATIVE FINANCIAL INSTRUMENTS
Schedule of fair value and notional amounts of derivative contracts by major product type on a gross basis
			As of March 31, 2015
			Assets						Liabilities
	The Company		Notional(1)			Fair Value			Notional(1)			Fair Value
	Interest rate contracts		$	—		$	—		$	250,000		$	978
	Foreign exchange contracts			102,217			8,217			65,341			1,995
	Total derivatives, at fair value		$	102,217		$	8,217		$	315,341		$	2,973
	-1	Represents the total contractual amount of derivative assets and liabilities outstanding.
			As of December 31, 2014
			Assets						Liabilities
	The Company		Notional(1)			Fair Value			Notional(1)			Fair Value
	Interest rate contracts		$	—		$	—		$	250,000		$	847
	Foreign exchange contracts			161,890			7,623			102,231			2,003
	Total derivatives, at fair value		$	161,890		$	7,623		$	352,231		$	2,850
	-1	Represents the total contractual amount of derivative assets and liabilities outstanding.
Summary of net realized and unrealized appreciation (depreciation) on derivative instruments
			For the three months ended March 31, 2015
	The Company		Interest Rate			Foreign			Total
			Contracts			Exchange
						Contracts
	Net realized gain (loss) on investments
	Purchased options		$	—		$	2,022		$	2,022
	Swaps			(337	)		—			(337	)
	Foreign currency forward contracts			—			5,116			5,116
	Net realized gain (loss) on investments		$	(337	)	$	7,138		$	6,801
	Net change in unrealized appreciation (depreciation) on investments
	Purchased options		$	—		$	(1,057	)	$	(1,057	)
	Swaps			(131	)		—			(131	)
	Foreign currency forward contracts			—			2,504			2,504
	Total net change in unrealized appreciation (depreciation) on investments		$	(131	)	$	1,447		$	1,316
			For the three months ended
			March 31, 2014
	The Company		Interest Rate			Foreign			Total
			Contracts			Exchange
						Contracts
	Net realized gain (loss) on investments
	Swaps		$	(341	)	$	—		$	(341	)
	Foreign currency forward contracts			—			(793	)		(793	)
	Net realized gain (loss) on investments		$	(341	)	$	(793	)	$	(1,134	)
	Net change in unrealized appreciation (depreciation) on investments
	Purchased options		$	—		$	(61	)	$	(61	)
	Swaps			57			—			57
	Foreign currency forward contracts			—			(63	)		(63	)
	Total net change in unrealized appreciation (depreciation) on investments		$	57		$	(124	)	$	(67	)
Schedule of setoff and related arrangements associated with the derivative and other financial instruments	Derivative and Other Instruments of the Company as of March 31, 2015
												Gross Amounts
												Not Offset in
												the Statement
			Gross			Gross						of Financial
			Amounts of			Amounts						Position
			Recognized			Offset in
			Assets			Assets			Net Amounts
			(Liabilities)			(Liabilities)			of Assets
									(Liabilities)
									Presented			Financial			Net Amount
												Instruments
	Assets:
	Derivatives		$	8,217		$	—		$	8,217		$	1,995		$	6,222
	Total			8,217			—			8,217			1,995			6,222
	Liabilities:
	Derivatives			(2,973	)		—			(2,973	)		(1,995	)		(978	)
	Total			(2,973	)		—			(2,973	)		(1,995	)		(978	)
	Grand Total		$	5,244		$	—		$	5,244		$	—		$	5,244
	Derivative and Other Instruments of the Company as of December 31, 2014
												Gross Amounts
												Not Offset in
												the Statement
			Gross			Gross						of Financial
			Amounts of			Amounts						Position
			Recognized			Offset in
			Assets			Assets			Net Amounts
			(Liabilities)			(Liabilities)			of Assets
									(Liabilities)
									Presented			Financial			Net Amount
												Instruments
	Assets:
	Derivatives		$	7,623		$	—		$	7,623		$	1,056		$	6,567
	Total			7,623			—			7,623			1,056			6,567
	Liabilities:
	Derivatives			(2,850	)		—			(2,850	)		(1,056	)		(1,794	)
	Total			(2,850	)		—			(2,850	)		(1,056	)		(1,794	)
	Grand Total		$	4,773		$	—		$	4,773		$	—		$	4,773

DEBT_Tables

DEBT (Tables) (Consolidated Funds)	3 Months Ended
	Mar. 31, 2015
Consolidated Funds
DEBT
Schedule of borrowings outstanding
			As of March 31, 2015
			Loan		Market Value of		Weighted Average
			Obligations		Loan Obligations		Remaining
							Maturity In Years
	Senior secured notes(1)		$	11,360,083	$	11,191,664		8.88
	Subordinated notes / preferred shares(2)			1,506,610		873,437		9.26
	Total loan obligations of Consolidated CLOs		$	12,866,693	$	12,065,101
	Type of Facility		Total Facility		Loan		Market Value of			Effective			Commitment			Maturity
			(Capacity)		Obligations		Loan Obligations			Rate			Fee			Date
	Revolvers of Consolidated CLOs
	Revolving credit line		$	42,806	$	42,806	$	42,676			0.51	%		0.17	%		7/16/20
	Revolving credit line			47,480		47,480		46,900			0.45	%		0.17	%		10/11/21
	Total revolvers of Consolidated CLOs					90,286		89,576
	Total notes payable and credit facilities of Consolidated CLOs				$	12,956,979	$	12,154,677
	-1	Weighted average interest rate of 2.67%.
	-2	The subordinated notes do not have contractual interest rates, but instead receive distributions from the excess cash flows generated by each Consolidated CLO.
			As of December 31, 2014
			Loan		Market Value of		Weighted Average
			Obligations		Loan Obligations		Remaining
							Maturity In Years
	Senior secured notes(1)		$	11,394,820	$	11,062,501		9.02
	Subordinated notes / preferred shares(2)			1,523,670		894,795		9.44
	Total loan obligations of Consolidated CLOs		$	12,918,490	$	11,957,296
	Type of Facility		Total Facility		Loan		Market Value of			Effective			Commitment			Maturity
			(Capacity)		Obligations		Loan Obligations			Rate			Fee			Date
	Revolvers of Consolidated CLOs
	Revolving credit line		$	44,113	$	44,113	$	43,980			0.49	%		0.17	%		4/16/21
	Revolving credit line			48,510		48,510		47,894			0.43	%		0.17	%		10/11/21
	Total revolvers of Consolidated CLOs					92,623		91,874
	Total notes payable and credit facilities of Consolidated CLOs				$	13,011,113	$	12,049,170
	-1	Weighted average interest rate of 2.62%.
	-2	The subordinated notes do not have contractual interest rates, but instead receive distributions from the excess cash flows generated by each Consolidated CLO.
	Funds were in compliance with all financial and non-financial covenants under such credit facilities.
	The Consolidated Funds had the following revolving bank credit facilities and term loans outstanding as of March 31, 2015:
	Type of Facility		Total Facility		Outstanding		Effective		Commitment		Maturity
			(Capacity)		Loan(1)		Rate		Fee		Date
	Short-term borrowings of Consolidated Funds
	Credit facility		$	25,000	$	—	LIBOR + 1.75%		0.30%			6/6/15
	Credit facility			25,000		—	LIBOR + 2.00%		0.30%			6/30/15
	Total short-term borrowings of Consolidated
	Funds					—
	Long-term borrowings of Consolidated Funds
	Credit facility			18,000		4,459	1.81%		N/A			1/1/23
	Credit facility			150,000		48,500	LIBOR + 2.25%		0.25%			6/4/18
	Notes payable			1,500,000		630,605	LIBOR + 1.65%		0.75%			9/19/18
	Total long-term borrowings of Consolidated Funds					683,564
	Total borrowings of Consolidated Funds				$	683,564
	-1	The market values of the long term notes approximate the current carrying value that is tied to the LIBOR rate.
	The Consolidated Funds had the following revolving bank credit facilities and term loans outstanding as of December 31, 2014:
	Type of Facility		Total Facility		Outstanding		Effective		Commitment		Maturity
			(Capacity)		Loan(1)		Rate		Fee		Date
	Short-term borrowings of Consolidated Funds
	Credit facility		$	25,000	$	—	LIBOR + 1.75%		0.30%			6/6/15
	Credit facility			25,000		—	LIBOR + 2.00%		0.30%			6/30/15
	Total short-term borrowings of Consolidated Funds					—
	Long-term borrowings of Consolidated Funds
	Credit facility			150,000		39,300	LIBOR + 2.25%		0.25%			6/4/18
	Notes payable			1,500,000		731,983	LIBOR + 1.65%		0.75%			9/19/18
	Total long-term borrowings of Consolidated Funds					771,283
	Total borrowings of Consolidated Funds				$	771,283
	-1	The market values of the long term notes approximate the current carrying value that is tied to the LIBOR rate.

REDEEMABLE_INTERESTS_Tables

REDEEMABLE INTERESTS (Tables) (AOG)	3 Months Ended
	Mar. 31, 2015
Summary of changes in the redeemable interests	The following table sets forth a summary of changes in the redeemable interests in Consolidated Funds and redeemable interests in Ares Operating Group entities as of March 31, 2015:
	Redeemable interests in Ares Operating Group Entities
	Beginning balance	$	23,988
	Reallocation of Partners' capital for change in ownership interest		81
	Deferred tax liabilities arising from allocation of contributions and Partners' capital		(1	)
	Distributions		(260	)
	Net income		243
	Currency translation adjustment		(7	)
	Equity compensation		33
	Ending Balance	$	24,077
Consolidated Funds
Summary of changes in the redeemable interests	The following table sets forth a summary of changes in the redeemable interests in Consolidated Funds and redeemable interests in Ares Operating Group entities as of March 31, 2015:
	Redeemable interests in Consolidated Funds
	Redeemable non-controlling interests in Consolidated Funds, beginning of period	$	1,037,450
	Contributions from redeemable, non-controlling interests in Consolidated Funds		122
	Distributions to redeemable, non-controlling interests in Consolidated Funds		(138,414	)
	Net income (loss) attributable to redeemable, non-controlling interests in Consolidated Funds		15,859
	Ending Balance	$	915,017

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2015
RELATED PARTY TRANSACTIONS
Schedule of amounts due from and to affiliates
		As of March 31,		As of December 31,
		2015		2014
	Due from affiliates:
	Management fees receivable from non-consolidated funds	$	98,775	$	113,358
	Payments made on behalf of and amounts due from non-consolidated funds		31,095		33,176
	Due from affiliates—Company	$	129,870	$	146,534
	Amounts due from portfolio companies and non-consolidated funds	$	9,338	$	11,342
	Due from affiliates—Consolidated Funds	$	9,338	$	11,342
	Due to affiliates:
	Management fee rebate payable to non-consolidated funds	$	6,048	$	14,390
	Payments made by non-consolidated funds on behalf of and amounts due from the Company		1,378		4,640
	Due to affiliates—Company	$	7,426	$	19,030
	Amounts due to non-consolidated funds	$	2,332	$	2,441
	Due to affiliates—Consolidated Funds	$	2,332	$	2,441

EARNINGS_PER_COMMON_UNIT_Table

EARNINGS PER COMMON UNIT (Tables)	3 Months Ended
	Mar. 31, 2015
EARNINGS PER COMMON UNIT
Schedule of the computation of basic and diluted earnings per common unit
		For the three months ended
		March 31, 2015
	(Dollars in thousands, except unit data)	Basic			Diluted
	Net income attributable to Ares Management, L.P.	$	18,456		$	18,456
	Earnings distributed to participating securities		(237	)		(237	)
	Net income available to common unitholders	$	18,219		$	18,219
	Weighted-average common units		80,667,664			80,667,664
	Effect of dilutive units:
	Restricted units		—			—
	Options		—			—
	Contingently issuable common units		—			—
	Diluted weighted-average common units		80,667,664			80,667,664
	Earnings per common unit	$	0.23		$	0.23

EQUITY_COMPENSATION_Tables

EQUITY COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2015
EQUITY COMPENSATION
Summary of the grant date fair value associated with each equity award issued as well as the expense recognized
						Equity
						Compensation
						Expenses
						Recognized,
						Net of
						Forfeitures
						Three Months
						Ended
			Grant Date Fair			March 31,
	(Presented in thousands)		Value			2015		2014
	AEP I Profit Interest		$	38,400		$	—	$	—
	AEP II Profit Interests			33,423			—		1,504
	AEP IV Profit Interests			10,657			—		—
	AEP VI Profit Interests			9,047			—		—
	Exchanged AEP Awards			68,607			—		—
	Indicus
	Membership Interest			20,700			—		1,036
	Profit Interest			5,464			—		456
	AREA Membership Interest			25,381			—		2,343
	Total		$	211,679		$	—	$	5,339
Schedule of equity-based compensation expense, net of assumed forfeitures
			For the
			three months ended
			March 31, 2015
	Restricted units		$	3,445
	Options			3,853
	Phantom units			623
	Equity-based compensation expense		$	7,921
Summary of unvested restricted units' activity
			Restricted Units			Weighted Average
						Grant Date Fair
						Value Per Unit
	Balance—January 1, 2015			4,776,053		$	18.08
	Granted			171,444			17.27
	Forfeited			(75,920	)		18.05
	Balance—March 31, 2015			4,871,577		$	18.06
Summary of unvested options activity
			Options			Weighted Average		Weighted Average		Aggregate
						Exercise Price		Remaining Life		Intrinsic
								(in years)		Value
	Balance—January 1, 2015			24,230,518		$	19		9.33
	Granted			935,135			18.82		9.83
	Forfeited			(142,675	)		19		—
	Balance—March 31, 2015			25,022,978		$	18.99		9.11
	Exercisable at March 31, 2015			—			—		—	$	—
	Expected to vest after March 31, 2015			19,333,428			18.99		9.11	$	—
Schedule of fair value of each option based on the Black-Scholes model and the weighted averages	The fair value of each option granted during the three months ended March 31, 2015 is measured on the date of grant using the Black-Scholes option-pricing model and the following weighted average assumptions:
	Risk-free interest rate		1.71% to 1.80%
	Weighted average expected dividend yield		5.00%
	Expected volatility factor(a)		35.00% to 36.00%
	Expected life in years		6.66 to 7.49
	(a)	Expected volatility is based on comparable companies using daily stock prices.
Summary of unvested Phantom units activity
			Phantom Units			Weighted Average
						Grant Date Fair Value
						Per Unit
	Balance January 1, 2015			610,711		$	19
	Forfeited			(16,538	)		19
	Balance March 31, 2015			594,173		$	19

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	3 Months Ended
	Mar. 31, 2015
SEGMENT REPORTING
Schedule of financial results for Company's operating segments, as well as the OMG	The following table presents the financial results for the Company's operating segments, as well as the OMG, as of and for the three months ended March 31, 2015:
			Tradable			Direct			Private			Real			Total			OMG			Total
			Credit			Lending			Equity			Estate			Segments						Stand
			Group			Group			Group			Group									Alone
	Management fees (includes ARCC Part I Fees of $29,042)		$	37,609		$	70,739		$	36,589		$	17,378		$	162,316		$	—		$	162,316
	Administrative fees and other income			21			77			13			856			967			6,385			7,350
	Compensation and benefits			(8,889	)		(33,676	)		(12,321	)		(10,131	)		(65,017	)		(28,914	)		(93,931	)
	General, administrative and other expenses			(3,831	)		(3,294	)		(3,118	)		(2,545	)		(12,788	)		(15,326	)		(28,114	)
	Fee related earnings (loss)			24,910			33,846			21,163			5,558			85,477			(37,855	)		47,622
	Performance fees—realized			33,325			1,889			425			—			35,639			—			35,639
	Performance fees—unrealized			(27,692	)		8,491			87,331			319			68,449			—			68,449
	Performance fee compensation—realized			(19,871	)		(1,133	)		(340	)		—			(21,344	)		—			(21,344	)
	Performance fee compensation—unrealized			19,554			(5,023	)		(69,981	)		403			(55,048	)		—			(55,048	)
	Net performance fees			5,316			4,224			17,435			722			27,697			—			27,697
	Investment income (loss)—realized			7,222			1,396			4,172			132			12,922			—			12,922
	Investment income (loss)—unrealized			(1,526	)		(1,843	)		(1,442	)		196			(4,615	)		—			(4,615	)
	Interest and other investment income			(1,739	)		213			4,485			29			2,988			—			2,988
	Interest expense			(1,208	)		(526	)		(1,680	)		(270	)		(3,684	)		—			(3,684	)
	Net investment income (loss)			2,749			(760	)		5,535			87			7,611			—			7,611
	Performance related earnings (loss)			8,065			3,464			22,970			809			35,308			—			35,308
	Economic net income (loss)		$	32,975		$	37,310		$	44,133		$	6,367		$	120,785		$	(37,855	)	$	82,930
	Distributable earnings (loss)		$	41,126		$	34,581		$	27,086		$	3,382		$	106,175		$	(38,880	)	$	67,295
	Total assets		$	451,176		$	248,342		$	862,147		$	166,715		$	1,728,380		$	16,941		$	1,745,321
	The following table presents the financial results for the Company's operating segments, as well as the OMG, as of and for the three months ended March 31, 2014:
			Tradable			Direct			Private			Real			Total			OMG			Total
			Credit			Lending			Equity			Estate			Segments						Stand
			Group			Group			Group			Group									Alone
	Management fees (includes ARCC Part I Fees of $28,318)		$	33,693		$	66,204		$	23,196		$	16,768		$	139,861		$	—		$	139,861
	Administrative fees and other income			17			90			76			1,290			1,473			5,392			6,865
	Compensation and benefits			(10,805	)		(32,212	)		(8,195	)		(11,485	)		(62,697	)		(27,657	)		(90,354	)
	General, administrative and other expenses			(3,696	)		(1,914	)		(2,000	)		(4,267	)		(11,877	)		(13,535	)		(25,412	)
	Fee related earnings (loss)			19,209			32,168			13,077			2,306			66,760			(35,800	)		30,960
	Performance fees—realized			10,213			39			13,086			—			23,338			—			23,338
	Performance fees—unrealized			13,509			2,292			21,341			2,950			40,092			—			40,092
	Performance fee compensation—realized			(5,506	)		(29	)		(10,472	)		—			(16,007	)		—			(16,007	)
	Performance fee compensation—unrealized			(6,355	)		(1,451	)		(16,912	)		—			(24,718	)		—			(24,718	)
	Net performance fees			11,861			851			7,043			2,950			22,705			—			22,705
	Investment income (loss)—realized			18,018			(597	)		1,131			730			19,282			—			19,282
	Investment income (loss)—unrealized			(12,866	)		1,524			15,156			(862	)		2,952			—			2,952
	Interest and other income			251			98			2,785			11			3,145			—			3,145
	Interest expense			(387	)		(304	)		(623	)		(325	)		(1,639	)		—			(1,639	)
	Net investment income (loss)			5,016			721			18,449			(446	)		23,740			—			23,740
	Performance related earnings			16,877			1,572			25,492			2,504			46,445			—			46,445
	Economic net income (loss)		$	36,086		$	33,740		$	38,569		$	4,810		$	113,205		$	(35,800	)	$	77,405
	Distributable earnings (loss)		$	40,704		$	31,158		$	18,698		$	1,499		$	92,059		$	(37,512	)	$	54,547
	Total assets		$	555,851		$	195,543		$	477,710		$	167,315		$	1,396,419		$	10,437		$	1,406,856
Schedule of reconcile segment results to the Company's income before taxes and total assets
			For the Three months ended March 31, 2015
			Total			Consolidation Adjustments			Consolidated
			Segments			and Reconciling Items			Results
	Revenues		$	267,370	-1	$	-85,642	(a)	$	181,728
	Expenses			154,196	-2		84,666	(b)		238,862
	Other income (expense)			7,611	-3		456,088	(c)		463,699
	Economic net income / Income before taxes			120,785			285,780	(d)		406,565
	Total assets			1,728,380			19,889,776	(e)		21,618,156
			For the Three months ended March 31, 2014
			Total			Consolidation Adjustments			Consolidated
			Segments			and Reconciling Items			Results
	Revenues		$	204,764	-1	$	-71,136	(a)	$	133,628
	Expenses			115,299	-2		68,831	(b)		184,130
	Other income (expense)			23,740	-3		301,437	(c)		325,177
	Economic net income / Income before taxes			113,205			161,470	(d)		274,675
	Total assets			1,396,419			20,639,082	(e)		22,035,501
Schedule of segment revenues consist of management fees, administrative fees and other income, as well as realized and unrealized performance fees
			March 31,			March 31,
			2015			2014
	Management fees		$	162,316		$	139,861
	Administrative fees and other income			967			1,473
	Performance fees—realized			35,639			23,338
	Performance fees—unrealized			68,449			40,092
	Total segment revenue		$	267,370		$	204,764
Schedule of segment expenses consist of compensation and benefits, and general, administrative and other expenses, as well as realized and unrealized performance fee expenses
			March 31,			March 31,
			2015			2014
	Compensation and benefits		$	65,017		$	62,697
	General, administrative and other expenses			12,788			11,877
	Performance fee compensation—realized			21,344			16,007
	Performance fee compensation—unrealized			55,048			24,718
	Total segment expense		$	154,196		$	115,299
Schedule of segment other income consists of realized and unrealized investment income and expenses, interest and other income and interest expenses
			March 31,			March 31,
			2015			2014
	Investment income (loss)—realized		$	12,922		$	19,282
	Investment Income (loss)—unrealized			(4,615	)		2,952
	Interest, dividend and other investment income			2,988			3,145
	Interest expense			(3,684	)		(1,639	)
	Net investment income		$	7,611		$	23,740
Schedule of revenue adjustment
			March 31,			March 31,
			2015			2014
	Consolidated Fund income eliminated in consolidation		$	(91,036	)	$	(73,578	)
	Administrative fees and other income attributable to OMG			6,385			5,392
	Performance fees—unrealized reclass(1)			(990	)		(2,950	)
	Total consolidated adjustments and reconciling items		$	(85,642	)	$	(71,136	)
	-1	Related to performance fees for AREA Sponsor Holdings LLC, an investment pool. Changes in value of this investment are reflected within other income (expense) in the Company's Condensed Consolidated Statements of Operations.
Schedule of expenses adjustment
			March 31,			March 31,
			2015			2014
	Consolidated Fund expenses added in consolidation		$	48,571		$	40,637
	Consolidated Fund expenses eliminated in consolidation			(33,499	)		(31,700	)
	OMG expenses			44,240			41,192
	Acquisition related expenses			2,224			1,421
	Equity compensation expense			7,921			5,339
	Placement fees and underwriting costs			3,045			1,052
	Amortization of intangibles			10,892			8,831
	Depreciation expense			1,273			2,059
	Total consolidation adjustments and reconciling items		$	84,666		$	68,831
Schedule of other income adjustment
			March 31,			March 31,
			2015			2014
	Consolidated Funds other income added in consolidation, net		$	461,059		$	321,117
	Other income from Consolidated Funds eliminated in consolidation, net			(5,951	)		(22,630	)
	Performance fee reclass(1)			990			2,950
	Other non-cash items			(10	)		—
	Total consolidation adjustments and reconciling items		$	456,088		$	301,437
	-1	Related to performance fees for AREA Sponsor Holdings LLC. Changes in value of this investment are reflected within other (income) expense in the Company's Condensed Consolidated Statements of Operations.
Schedule of reconciliation of income before taxes from reportable segments to economic net income, to fee related earnings, to performance related earnings and to distributable earnings of entity's Consolidated Statement of Operations
			March 31,			March 31,
			2015			2014
	Economic net income
	Income before taxes		$	406,565		$	274,675
	Adjustments:
	Amortization of intangibles			10,892			8,831
	Depreciation expense			1,273			2,059
	Equity compensation expenses			7,921			5,339
	Acquisition-related expenses			2,224			1,421
	Placement fees and underwriting costs			3,045			1,052
	OMG expenses, net			37,855			35,800
	Other non-cash items			10			—
	Income (loss) before taxes of non-controlling interests in Consolidated Funds			(349,001	)		(215,972	)
	Total consolidation adjustments and reconciling items			(285,780	)		(161,470	)
	Economic net income		$	120,785		$	113,205
	Fee related earnings
	Income before taxes		$	406,565		$	274,675
	Adjustments:
	Amortization of intangibles			10,892			8,831
	Depreciation expense			1,273			2,059
	Equity compensation expenses			7,921			5,339
	Acquisition-related expenses			2,224			1,421
	Placement fees and underwriting costs			3,045			1,052
	OMG expenses, net			37,855			35,800
	Other non-cash items			10			—
	Income (loss) before taxes of non-controlling interests in Consolidated Funds			(349,001	)		(215,972	)
	Total consolidation adjustments and reconciling items			(285,780	)		(161,470	)
	Economic net income			120,785			113,205
	Total performance fees income—realized			(35,639	)		(23,338	)
	Total performance fees income—unrealized			(68,449	)		(40,092	)
	Total performance fee compensation—realized			21,344			16,007
	Total performance fee compensation—unrealized			55,048			24,718
	Total investment income			(7,611	)		(23,740	)
	Fee related earnings		$	85,477		$	66,760
	Management fees		$	162,316		$	139,861
	Administrative fees and other income			967			1,473
	Compensation and benefits			(65,017	)		(62,697	)
	General, administrative and other expenses			(12,788	)		(11,877	)
	Fee related earnings		$	85,477		$	66,760
			March 31,			March 31,
			2015			2014
	Performance related earnings:
	Income before taxes		$	406,565		$	274,675
	Adjustments:
	Amortization of intangibles			10,892			8,831
	Depreciation expense			1,273			2,059
	Equity compensation expenses			7,921			5,339
	Acquisition-related expenses			2,224			1,421
	Placement fees and underwriting costs			3,045			1,052
	OMG expenses, net			37,855			35,800
	Other non-cash items			10			—
	Income (loss) before taxes of non-controlling interests in Consolidated Funds			(349,001	)		(215,972	)
	Economic net income			120,785			113,205
	Total management fees			(162,316	)		(139,861	)
	Administrative fees and other income			(967	)		(1,473	)
	Compensation and benefits			65,017			62,697
	General, administrative and other expenses			12,788			11,877
	Performance related earnings		$	35,308		$	46,445
	Total performance fees—realized		$	35,639		$	23,338
	Total performance fees—unrealized			68,449			40,092
	Total performance fee compensation—realized			(21,344	)		(16,007	)
	Total performance fee compensation—unrealized			(55,048	)		(24,718	)
	Net investment income (loss)			7,611			23,740
Performance related earnings		$	35,308		$	46,445
		March 31,			March 31,
		2015			2014
Distributable earnings
Income (loss) before taxes		$	406,565		$	274,675
Adjustments:
Amortization of intangibles			10,892			8,831
Equity compensation expenses			7,921			5,339
OMG distributable loss(1)			38,880			37,512
Non-cash acquisition-related expenses			1,251			—
Taxes paid(2)			(479	)		—
Dividend equivalent			(912	)		—
Other non-cash items			(156	)		—
Income (loss) before taxes of non-controlling interests in Consolidated Funds			(349,001	)		(215,972	)
Unrealized performance fees			(68,449	)		(40,092	)
Unrealized performance fee compensation			55,048			24,718
Unrealized investment and other income (loss)			4,615			(2,952	)
Distributable earnings		$	106,175		$	92,059
Fee related earnings		$	85,477		$	66,760
Performance fees—realized			35,639			23,338
Performance fee compensation—realized			(21,344	)		(16,007	)
Investment and other income realized, net			12,226			20,788
Net performance related earnings—realized			26,521			28,119
Less:
Dividend equivalent(3)			(684	)		—
One-time acquisition costs(3)			(724	)		—
Income tax expense(3)			(476	)		—
Non-cash items			(156	)		—
Placement fees and underwriting costs			(3,045	)		(1,052	)
Non-cash depreciation and amortization(3)			(739	)		(1,768	)
Distributable earnings		$	106,175		$	92,059
-1		Represents OMG distributable earnings which includes depreciation expense.
-2		Represents current portion of income tax expense of subsidiary operating entities.
-3		Certain costs are reduced by the amounts attributable to OMG, which is excluded from segment results.
Schedule of reconciliation of total segment assets to total assets reported in the Consolidated Statements of Financial Condition
			March 31,			March 31,
			2015			2014
	Total assets from Consolidated Funds added in consolidation		$	20,722,470		$	21,420,284
	Total assets from Consolidated Funds eliminated in consolidation			(849,635	)		(791,639	)
	OMG assets			16,941			10,437
	Total consolidation adjustments and reconciling items		$	19,889,776		$	20,639,082

CONSOLIDATING_SCHEDULES_Tables

CONSOLIDATING SCHEDULES (Tables)	3 Months Ended
	Mar. 31, 2015
CONSOLIDATING SCHEDULES
Schedule of consolidating effects of the Consolidated Funds on the Company's financial condition
		As of March 31, 2015
		Consolidated			Consolidated			Eliminations			Consolidated
		Company			Funds
		Entities
	Assets
	Cash and cash equivalents	$	69,372		$	—		$	—		$	69,372
	Investments		606,875			—			(408,245	)		198,630
	Derivative assets, at fair value		8,217			—			—			8,217
	Performance fees receivable		590,308			—			(418,515	)		171,793
	Due from affiliates		150,466			—			(20,596	)		129,870
	Other assets		55,735			—			(45	)		55,690
	Intangible assets, net		120,268			—			—			120,268
	Goodwill		144,080			—			—			144,080
	Assets of Consolidated Funds
	Cash and cash equivalents		—			1,318,017			—			1,318,017
	Investments		—			18,990,943			—			18,990,943
	Loans held for investment, net		—			85,214			—			85,214
	Due from affiliates		—			11,572			(2,234	)		9,338
	Dividends and interest receivable		—			71,761			—			71,761
	Receivable for securities sold		—			234,938			—			234,938
	Derivative assets, at fair value		—			3,696			—			3,696
	Other assets		—			6,329			—			6,329
	Total assets	$	1,745,321		$	20,722,470		$	(849,635	)	$	21,618,156
	Liabilities
	Accounts payable and accrued expenses	$	127,053		$	—		$	(668	)	$	126,385
	Accrued compensation		55,307			—			—			55,307
	Derivative liabilities, at fair value		2,973			—			—			2,973
	Due to affiliates		8,456			—			(1,030	)		7,426
	Performance fee compensation payable		421,074			—			(887	)		420,187
	Debt obligations		298,614			—			—			298,614
	Equity compensation put option liability		20,000			—			—			20,000
	Deferred tax liability, net		21,026			—			—			21,026
	Liabilities of Consolidated Funds
	Accounts payable, accrued expenses and other liabilities		—			54,337			(273	)		54,064
	Due to affiliates		—			66,545			(64,213	)		2,332
	Payable for securities purchased		—			475,380			—			475,380
	Derivative liabilities, at fair value		—			59,483			—			59,483
	Securities sold short, at fair value		—			3,763			—			3,763
	Deferred tax liability, net		—			23,585			—			23,585
	CLO loan obligations		—			12,222,880			(68,203	)		12,154,677
	Fund borrowings		—			683,564			—			683,564
	Mezzanine debt		—			406,371			—			406,371
	Total liabilities		954,503			13,995,908			(135,274	)		14,815,137
	Commitments and contingencies
	Redeemable interest in Consolidated Funds		—			915,017			—			915,017
	Redeemable interest in Ares Operating Group entities		24,077			—			—			24,077
	Non-controlling interest in Consolidated Funds:
	Non-controlling interest in Consolidated Funds		—			5,755,549			(718,910	)		5,036,639
	Equity appropriated for Consolidated Funds		—			55,996			—			55,996
	Non-controlling interest in Consolidated Funds		—			5,811,545			(718,910	)		5,092,635
	Non-controlling interest in Ares Operating Group entities		481,775			—			—			481,775
	Controlling interest in Ares Management, L.P.:
	Partners' Capital (80,667,664 units issued and outstanding)		291,641			—			—			291,641
	Accumulated other comprehensive gain (loss)		(6,676	)		—			4,550			(2,126	)
	Total controlling interest in Ares Management, L.P		284,965			—			4,550			289,515
	Total equity		766,740			5,811,545			(714,360	)		5,863,925
	Total liabilities, redeemable interests, non-controlling interests and equity	$	1,745,321		$	20,722,470		$	(849,635	)	$	21,618,156
		As of December 31, 2014
		Consolidated			Consolidated			Eliminations			Consolidated
		Company			Funds
		Entities
	Assets
	Cash and cash equivalents	$	148,858		$	—		$	—		$	148,858
Restricted cash and cash equivalents		32,734			—			—			32,734
Investments		598,074			—			(424,022	)		174,052
Derivative assets, at fair value		7,623			—			—			7,623
Performance fees receivable		548,098			—			(361,039	)		187,059
Due from affiliates		166,225			—			(19,691	)		146,534
Other assets		58,809			—			(93	)		58,716
Intangible assets, net		40,948			—			—			40,948
Goodwill		85,582			—			—			85,582
Assets of Consolidated Funds
Cash and cash equivalents		—			1,314,397			—			1,314,397
Investments, at fair value		—			19,123,950			—			19,123,950
Loans held for investment, net		—			77,514			—			77,514
Due from affiliates		—			13,262			(1,920	)		11,342
Dividends and interest receivable		—			81,331			—			81,331
Receivable for securities sold		—			132,753			—			132,753
Derivative assets, at fair value		—			3,126			—			3,126
Other assets		—			6,156			—			6,156
Total assets	$	1,686,951		$	20,752,489		$	(806,765	)	$	21,632,675
Liabilities
Accounts payable and accrued expenses	$	101,912		$	—		$	(602	)	$	101,310
Accrued compensation		129,433			—			—			129,433
Derivative liabilities, at fair value		2,850			—			—			2,850
Due to affiliates		19,881			—			(851	)		19,030
Performance fee compensation payable		381,164			—			(896	)		380,268
Debt obligations		243,491			—			—			243,491
Equity compensation put option liability		20,000			—			—			20,000
Deferred tax liability, net		19,861			—			—			19,861
Liabilities of Consolidated Funds
Accounts payable, accrued expenses and other liabilities		—			68,674			(85	)		68,589
Due to affiliates		—			63,417			(60,976	)		2,441
Payable for securities purchased		—			618,902			—			618,902
Derivative liabilities, at fair value		—			42,332			—			42,332
Securities sold short, at fair value		—			3,763			—			3,763
Deferred tax liability, net		—			22,214			—			22,214
CLO loan obligations		—			12,120,842			(71,672	)		12,049,170
Fund borrowings		—			771,283			—			771,283
Mezzanine debt		—			378,365			—			378,365
Total liabilities		918,592			14,089,792			(135,082	)		14,873,302
Commitments and contingencies
Redeemable interest in Consolidated Funds		—			1,037,450			—			1,037,450
Redeemable interest in Ares Operating Group entities		23,988			—			—			23,988
Non-controlling interest in Consolidated Funds:
Non-controlling interest in Consolidated Funds		—			5,663,172			(674,443	)		4,988,729
Equity appropriated for Consolidated Funds		—			(37,926	)		—			(37,926	)
Non-controlling interest in Consolidated Funds		—			5,625,246			(674,443	)		4,950,803
Non-controlling interest in Ares Operating Group entities		463,493			—			—			463,493
Controlling interest in Ares Management, L.P.:
Partners' Capital (80,667,664 units issued and outstanding)		285,025			—			—			285,025
Accumulated other comprehensive gain (loss)		(4,146	)		—			2,760			(1,386	)
Total controlling interest in Ares Management, L.P		280,879			—			2,760			283,639
Total equity		744,372			5,625,246			(671,683	)		5,697,935
Total liabilities, redeemable interests, non-controlling interests and equity	$	1,686,951		$	20,752,489		$	(806,765	)	$	21,632,675
Schedule of results from operations
		For the Three Months Ended March 31, 2015
		Consolidated			Consolidated			Eliminations			Consolidated
		Company			Funds
		Entities
	Revenues
	Management fees (includes ARCC Part I Fees of $29,042)	$	162,316		$	—		$	(26,927	)	$	135,389
	Performance fees		103,098			—			(63,038	)		40,060
	Other fees		7,350			—			(1,071	)		6,279
	Total revenues		272,764			—			(91,036	)		181,728
	Expenses
	Compensation and benefits		101,851			—			—			101,851
	Performance fee compensation		76,392			—			—			76,392
	General, administrative and other expense		45,547			—			—			45,547
	Consolidated Fund expenses		—			48,571			(33,499	)		15,072
	Total expenses		223,790			48,571			(33,499	)		238,862
	Other income (expense)
	Interest and other investment income		6,033			—			(5,691	)		342
	Interest expense		(3,684	)		—			—			(3,684	)
	Other income (expense), net		(3,054	)		—			2,724			(330	)
	Net realized gain (loss) on investments		12,922			—			(6,158	)		6,764
	Net change in unrealized appreciation (depreciation) on investments		(3,626	)		—			7,102			3,476
	Interest and other investment income of Consolidated Funds		—			338,376			(190	)		338,186
	Interest expense of Consolidated Funds		—			(122,634	)		3,923			(118,711	)
	Net realized gain (loss) on investments of Consolidated Funds		—			(61,436	)		—			(61,436	)
	Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		—			306,753			(7,661	)		299,092
	Total other income (expense)		8,591			461,059			(5,951	)		463,699
	Income before taxes		57,565			412,488			(63,488	)		406,565
	Income tax expense (benefit)		4,059			1,833			—			5,892
	Net income		53,506			410,655			(63,488	)		400,673
	Less: Net income attributable to redeemable interests in Consolidated Funds		—			18,219			(2,360	)		15,859
	Less: Net income attributable to non-controlling interests in Consolidated Funds		—			392,437			(61,128	)		331,309
	Less: Net income attributable to redeemable interests in Ares Operating Group entities		243			—			—			243
	Less: Net income attributable to non-controlling interests in Ares Operating Group entities		34,806			—			—			34,806
	Net income attributable to Ares Management, L.P.	$	18,456		$	—		$	—		$	18,456
		For the Three Months Ended March 31, 2014
		Consolidated			Consolidated			Eliminations			Consolidated
		Company			Funds
		Entities
	Revenues
	Management fees (includes ARCC Part I Fees of $28,318)	$	139,861		$	—		$	(29,312	)	$	110,549
	Performance fees		60,480			—			(44,266	)		16,214
	Other fees		6,865			—			—			6,865
	Total revenues		207,206			—			(73,578	)		133,628
	Expenses
	Compensation and benefits		95,693			—			—			95,693
	Performance fee compensation		40,725			—			—			40,725
	General, administrative and other expense		38,775			—			—			38,775
	Consolidated Fund expenses		—			40,637			(31,700	)		8,937
	Total expenses		175,193			40,637			(31,700	)		184,130
	Other income (expense)
	Interest and other investment income		3,483			—			(3,359	)		124
	Interest expense		(1,639	)		—			—			(1,639	)
	Net realized gain (loss) on investments		19,281			—			(19,347	)		(66	)
	Net change in unrealized appreciation (depreciation) on investments		5,565			—			(1,419	)		4,146
	Interest and other investment income of Consolidated Funds		—			345,476			(131	)		345,345
	Interest expense of Consolidated Funds		—			(145,737	)		695			(145,042	)
	Net realized gain (loss) on investments of Consolidated Funds		—			54,965			—			54,965
	Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		—			66,413			931			67,344
	Total other income (expense)		26,690			321,117			(22,630	)		325,177
	Income before taxes		58,703			280,480			(64,508	)		274,675
	Income tax expense		2,514			(9,209	)		—			(6,695	)
	Net income		56,189			289,689			(64,508	)		281,370
	Less: Net income attributable to redeemable interests in Consolidated Funds		—			42,018			(4,970	)		37,048
Less: Net income attributable to non-controlling interests in Consolidated Funds		—			247,671			(59,538	)		188,133
Less: Net income attributable to redeemable interests in Ares Operating Group entities		406			—			—			406
Less: Net income attributable to non-controlling interests in Ares Operating Group entities		12,936			—			—			12,936
Less: Net income attributable to controlling interest in Predecessor		42,847			—			—			42,847
Net income attributable to Ares Management, L.P.	$	—		$	—		$	—		$	—

ORGANIZATION_AND_BASIS_OF_PRES1

ORGANIZATION AND BASIS OF PRESENTATION (Details)	3 Months Ended
	Mar. 31, 2015
	entity
	item
ORGANIZATION AND BASIS OF PRESENTATION
Number operating segments	4
ORGANIZATION AND BASIS OF PRESENTATION
Number of affiliated entities results included in accompanying combined and consolidated financial statements	2
APMC | AH LLC
ORGANIZATION AND BASIS OF PRESENTATION
Controlling ownership interest (as a percent)	50.10%
APMC | AI
ORGANIZATION AND BASIS OF PRESENTATION
Controlling ownership interest (as a percent)	70.30%

ORGANIZATION_AND_BASIS_OF_PRES2

ORGANIZATION AND BASIS OF PRESENTATION (Details 2) (USD $)	0 Months Ended		3 Months Ended
	Jun. 04, 2014	7-May-14	Mar. 31, 2015
ORGANIZATION AND BASIS OF PRESENTATION
Ares Owners Holdings, L.P. direct ownership percentage of each of the Ares Operating Group Entities			56.28%
Number of partnership units Ares Owners Holdings, L.P. of each of the Ares Operating Group Entities			119,937,609
An affiliate of Alleghany Corporation direct ownership percentage of each of the Ares Operating Group Entities			5.87%
Number of AOG Units an affiliate of Alleghany Corporation owns of each of the Ares Operating Group entities			12,500,000
Issuance of common units (in units)		11,363,636
Price per common units issued in IPO (in dollars per unit)		$19
Common units issued pursuant to over-allotment option (in units)	225,794
Price per common units issued pursuant to over-allotment option (in dollars per unit)	$19
AOG
ORGANIZATION AND BASIS OF PRESENTATION
Maximum ratio for exchange of units			4
Units conversion ratio			100.00%

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	item	item
Variable Interest Model
Assets	$21,618,156,000	$22,035,501,000	$21,632,675,000
Liabilities	14,815,137,000		14,873,302,000
Number of funds deconsolidated due to them being liquidated or dissolved	1	3
Number of funds deconsolidated due to no longer holding majority voting interest	0	4
Number of funds deconsolidated due to no longer being primary beneficiary	8	11
Investments in Non-Consolidated Variable Interest Entities
Cash payment to redeem interest in Ares Operating Group entities	20,000,000
Income Allocation
Average daily ownership (as a percent)	37.85%
Unfunded commitments	258,300,000		187,900,000
Minimum
Variable Interest Model
Number of parties equity interests to be aggregated	2
Parent Company
Equity Appropriated for Consolidated Funds
Investments	198,630,000		174,052,000
Investments in Non-Consolidated Variable Interest Entities
Maximum exposure to loss in non-consolidated VIEs	16,741,000		14,851,000
Parent Company | Consolidated VIEs
Equity Appropriated for Consolidated Funds
Investments	178,200,000		193,000,000
Consolidated VIEs
Variable Interest Model
Assets	14,300,000,000		14,200,000,000
Liabilities	13,300,000,000		13,200,000,000
Consolidated Funds
Equity Appropriated for Consolidated Funds
Investments	18,990,943,000		19,123,950,000
Investments in Non-Consolidated Variable Interest Entities
Maximum exposure to loss in non-consolidated VIEs	$2,236,000		$2,519,000
Consolidated Funds | Collateralized loan obligation
Equity Appropriated for Consolidated Funds
Number of CLOs consolidated	26		31

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) (USD $)	Dec. 31, 2014	Mar. 31, 2015
In Millions, unless otherwise specified
Other assets
New Accounting Pronouncement, Early Adoption [Line Items]
Unamortized debt issuance costs	$5.30
Debt obligations
New Accounting Pronouncement, Early Adoption [Line Items]
Unamortized debt issuance costs		7.2
Debt obligations | Adjustments for New Accounting Principle, Early Adoption
New Accounting Pronouncement, Early Adoption [Line Items]
Unamortized debt issuance costs	2.3
Debt obligations | New Accounting Pronouncement, Early Adoption, Effect
New Accounting Pronouncement, Early Adoption [Line Items]
Unamortized debt issuance costs	6.3
Consolidated Funds | Debt obligations
New Accounting Pronouncement, Early Adoption [Line Items]
Unamortized debt issuance costs		$5.90

BUSINESS_COMBINATIONS_GOODWILL2

BUSINESS COMBINATIONS, GOODWILL AND INTANGIBLE ASSETS (Details 1) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Jan. 01, 2015	Jul. 01, 2015	Dec. 31, 2014
		item
Business Combination Consideration Transferred
Equity (1,578,947 Ares Operating Group units)	$25,468,000
Units issued (in units)	80,667,664			80,667,664
Business Combination Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Goodwill, Total	144,080,000			85,582,000
AOG
Business Combination Consideration Transferred
Units issued (in units)	80,667,664
EIF Management, LLC
Business Combination Consideration Transferred
Assets under management		4,400,000,000
Number of commingled funds		4
Number of related co-investment vehicles		4
Cash		64,532,000
Equity (1,578,947 Ares Operating Group units)		25,468,000
Contingent consideration		59,171,000
Total		149,171,000
The fair value of the liability for contingent consideration		78,000,000
The fair value of the equity portion of the liability of contingent consideration		18,800,000
Contingent consideration discount rate		4.10%
Number of leases evaluated		3
Business Combination Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Cash		95,000
Other tangible assets		610,000
Total intangible assets acquired		90,321,000
Total identifiable assets acquired		91,026,000
Accounts payable, accrued expenses and other liabilities		455,000
Total liabilities assumed		455,000
Net identifiable assets acquired		90,571,000
Goodwill: Assembled workforce		8,300,000
Goodwill: Others		50,300,000
Goodwill, Total	58,600,000	58,600,000
Net assets acquired		149,171,000
Acquisition-related expenses		3,600,000
EIF Management, LLC | Management Contracts
Business Combination Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Total intangible assets acquired		48,521,000
EIF Management, LLC | Client relationships
Business Combination Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Total intangible assets acquired		38,600,000
EIF Management, LLC | Trade Name
Business Combination Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Total intangible assets acquired		3,200,000
EIF Management, LLC | AOG
Business Combination Consideration Transferred
Units issued (in units)		1,578,947
EIF Management, LLC | Minimum
Business Combination Consideration Transferred
Fund V final closing vesting period		2 years
Contingent consideration adjusted revenue amount		16,900,000
EIF Management, LLC | Minimum | Management Contracts
Business Combination Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Estimated useful lives		2 years
EIF Management, LLC | Minimum | Client relationships
Business Combination Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Estimated useful lives		12 years
EIF Management, LLC | Minimum | Trade Name
Business Combination Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Estimated useful lives		7 years
EIF Management, LLC | Maximum
Business Combination Consideration Transferred
Fund V final closing vesting period		5 years
Percentage of Ares Operating Group Units exchangeable	50.00%		50.00%
Contingent consideration adjusted revenue amount		$45,000,000
EIF Management, LLC | Maximum | Management Contracts
Business Combination Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Estimated useful lives		4 years
EIF Management, LLC | Maximum | Client relationships
Business Combination Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Estimated useful lives		15 years
EIF Management, LLC | Maximum | Trade Name
Business Combination Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net
Estimated useful lives		8 years

BUSINESS_COMBINATIONS_GOODWILL3

BUSINESS COMBINATIONS, GOODWILL AND INTANGIBLE ASSETS (Details 2) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Carrying value for the Company's intangible assets
Finite-lived intangible assets	$203,899	$114,102
Less: accumulated amortization	-83,631	-73,154
Finite-lived intangible assets, net	120,268	40,948
Goodwill	144,080	85,582
Total intangible assets and goodwill, net	264,348	126,530
Impairments of goodwill	0	0
Parent Company
Carrying value for the Company's intangible assets
Goodwill	$144,080	$85,582

BUSINESS_COMBINATIONS_GOODWILL4

BUSINESS COMBINATIONS, GOODWILL AND INTANGIBLE ASSETS (Details 3) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Finite-lived intangible assets, net
Total intangible assets acquired	$203,899,000		$114,102,000
Less: accumulated amortization	-83,631,000		-73,154,000
Finite-lived intangible assets, net	120,268,000		40,948,000
Amortization expense	10,900,000	8,800,000
Accelerated amortization expense	0	3,000,000
Previously acquired management contracts
Finite-lived intangible assets, net
Total intangible assets acquired	113,578,000		114,102,000
Management contracts | EIF Management, LLC
Finite-lived intangible assets, net
Total intangible assets acquired	48,521,000
Client relationships | EIF Management, LLC
Finite-lived intangible assets, net
Total intangible assets acquired	38,600,000
Trade Name | EIF Management, LLC
Finite-lived intangible assets, net
Total intangible assets acquired	$3,200,000

INVESTMENTS_Detail

INVESTMENTS (Detail) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
INVESTMENTS
Equity-method investment	$3,884	$3,728
Equity-method investment at fair value	5,000
Total equity-method investment	$8,884	$3,728

INVESTMENTS_Details_2

INVESTMENTS (Details 2) (Parent Company, USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Investments
Investments, at fair value	$189,746	$170,324
Fair value as a percentage of total investments	100.00%	100.00%
Investments, at cost	148,972	130,014
Private Investment Partnership Interests
Investments
Investments, at fair value	188,473	169,057
Fair value as a percentage of total investments	99.30%	99.20%
Investments, at cost	147,712	128,756
Private Investment Partnership Interests | AREA European Property Enhancement Program L.P
Investments
Investments, at fair value	1,989	1,760
Fair value as a percentage of total investments	1.00%	1.00%
Private Investment Partnership Interests | AREA Sponsor Holdings, LLC
Investments
Investments, at fair value	42,027	40,296
Fair value as a percentage of total investments	22.10%	23.60%
Private Investment Partnership Interests | Ares Capital Europe II (D), L.P
Investments
Investments, at fair value	19,294	15,592
Fair value as a percentage of total investments	10.20%	9.20%
Private Investment Partnership Interests | Ares Capital Europe II (E), L.P
Investments
Investments, at fair value	35	31
Fair value as a percentage of total investments	0.00%	0.00%
Private Investment Partnership Interests | Ares Centre Street Partnership, L.P.
Investments
Investments, at fair value	2,471	256
Fair value as a percentage of total investments	1.30%	0.20%
Private Investment Partnership Interests | Ares Corporate Opportunities Fund, L.P (2)
Investments
Investments, at fair value	576	777
Fair value as a percentage of total investments	0.30%	0.50%
Private Investment Partnership Interests | Ares Corporate Opportunities Fund IV LP
Investments
Investments, at fair value	27,233	21,836
Fair value as a percentage of total investments	14.40%	12.80%
Private Investment Partnership Interests | Ares Credit Strategies Fund II, L.P
Investments
Investments, at fair value	636	627
Fair value as a percentage of total investments	0.30%	0.40%
Private Investment Partnership Interests | Ares Credit Strategies Fund III, L.P
Investments
Investments, at fair value	19	19
Fair value as a percentage of total investments	0.00%	0.00%
Private Investment Partnership Interests | Ares European Credit Strategies Fund C LP
Investments
Investments, at fair value	547	497
Fair value as a percentage of total investments	0.30%	0.30%
Private Investment Partnership Interests | ARES European Real Estate Fund IV LP
Investments
Investments, at fair value	1,923	2,455
Fair value as a percentage of total investments	1.00%	1.40%
Private Investment Partnership Interests | Ares Multi Strategy Credit Fund V (H), L.P
Investments
Investments, at fair value	1,088	1,068
Fair value as a percentage of total investments	0.60%	0.60%
Private Investment Partnership Interests | Ares Special Situations Fund I-B, L.P
Investments
Investments, at fair value	1	2
Private Investment Partnership Interests | Ares Special Situations Fund III, L.P
Investments
Investments, at fair value	27,452	26,867
Fair value as a percentage of total investments	14.50%	15.80%
Private Investment Partnership Interests | Ares Special Situations Fund IV, L.P.
Investments
Investments, at fair value	6,622
Fair value as a percentage of total investments	3.50%	0.00%
Private Investment Partnership Interests | Ares SSF Riopelle, L.P
Investments
Investments, at fair value	3,915	4,211
Fair value as a percentage of total investments	2.10%	2.50%
Private Investment Partnership Interests | Ares Strategic Investment Partners, L.P
Investments
Investments, at fair value	76	75
Fair value as a percentage of total investments	0.00%	0.00%
Private Investment Partnership Interests | Ares Strategic Investment Partners III, L.P
Investments
Investments, at fair value		2,672
Fair value as a percentage of total investments		1.60%
Private Investment Partnership Interests | Ares Strategic Real Estate Program - HHC, LLC
Investments
Investments, at fair value	4,344	3,094
Fair value as a percentage of total investments	2.30%	1.80%
Private Investment Partnership Interests | Ares US Real Estate Fund VIII, L.P.
Investments
Investments, at fair value	2,877	1,574
Fair value as a percentage of total investments	1.50%	0.90%
Private Investment Partnership Interests | Resolution Life L.P
Investments
Investments, at fair value	45,348	45,348
Fair value as a percentage of total investments	23.90%	26.60%
Common Stock.
Investments
Investments, at fair value	95	89
Fair value as a percentage of total investments	0.10%	0.10%
Investments, at cost	110	108
Common Stock. | Ares Multi Strategy Credit Fund, Inc.
Investments
Investments, at fair value	95	89
Fair value as a percentage of total investments	0.10%	0.10%
Corporate Bonds
Investments
Investments, at fair value	1,178	1,178
Fair value as a percentage of total investments	0.60%	0.70%
Investments, at cost	1,150	1,150
Corporate Bonds | Ares Commercial Real Estate Corporation Convertible Senior Notes
Investments
Investments, at fair value	$1,178	$1,178
Fair value as a percentage of total investments	0.60%	0.70%

INVESTMENTS_Details_3

INVESTMENTS (Details 3) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
	item	item
Investments
Number of single issuers above 5%	0	0
Maximum
Investments
Fair value as a percentage of total investments	5.00%	5.00%
Consolidated Funds
Investments
Investments, at fair value	18,990,943	19,123,950
Fair value as a percentage of total investments	100.00%	100.00%
Securities sold short, at fair value	-3,763	-3,763
Securities sold short, percentage of total investments	100.00%	100.00%
Consolidated Funds | Fixed income asset
Investments
Investments, at fair value	14,350,501	14,640,084
Fair value as a percentage of total investments	75.50%	76.70%
Consolidated Funds | Common Stock.
Investments
Investments, at fair value	4,640,442	4,483,866
Fair value as a percentage of total investments	24.50%	23.30%
Consolidated Funds | United States | Fixed income asset
Investments
Investments, at fair value	9,972,448	9,753,269
Fair value as a percentage of total investments	52.40%	51.00%
Investments, at cost	10,029,620	9,928,006
Consolidated Funds | United States | Fixed income asset | Consumer discretionary
Investments
Investments, at fair value	3,232,955	3,136,899
Fair value as a percentage of total investments	17.00%	16.30%
Consolidated Funds | United States | Fixed income asset | Consumer staples
Investments
Investments, at fair value	251,814	221,708
Fair value as a percentage of total investments	1.30%	1.20%
Consolidated Funds | United States | Fixed income asset | Energy
Investments
Investments, at fair value	304,943	416,861
Fair value as a percentage of total investments	1.60%	2.20%
Consolidated Funds | United States | Fixed income asset | Financials
Investments
Investments, at fair value	473,222	401,673
Fair value as a percentage of total investments	2.50%	2.10%
Consolidated Funds | United States | Fixed income asset | Healthcare, education and childcare
Investments
Investments, at fair value	1,262,427	1,191,619
Fair value as a percentage of total investments	6.60%	6.20%
Consolidated Funds | United States | Fixed income asset | Industrials
Investments
Investments, at fair value	1,639,565	1,717,523
Fair value as a percentage of total investments	8.60%	9.00%
Consolidated Funds | United States | Fixed income asset | Information technology
Investments
Investments, at fair value	787,710	745,920
Fair value as a percentage of total investments	4.10%	3.90%
Consolidated Funds | United States | Fixed income asset | Materials
Investments
Investments, at fair value	456,200	393,569
Fair value as a percentage of total investments	2.40%	2.10%
Consolidated Funds | United States | Fixed income asset | Partnership and LLC interests
Investments
Investments, at fair value	14,839	16,256
Fair value as a percentage of total investments	0.10%	0.10%
Consolidated Funds | United States | Fixed income asset | Telecommunication services
Investments
Investments, at fair value	1,347,337	1,287,688
Fair value as a percentage of total investments	7.10%	6.70%
Consolidated Funds | United States | Fixed income asset | Utilities
Investments
Investments, at fair value	201,436	223,553
Fair value as a percentage of total investments	1.10%	1.20%
Consolidated Funds | United States | Common Stock.
Investments
Investments, at fair value	4,332,412	4,153,194
Fair value as a percentage of total investments	23.00%	21.70%
Investments, at cost	2,957,558	2,964,900
Consolidated Funds | United States | Common Stock. | Consumer discretionary
Investments
Investments, at fair value	2,958,697	2,852,369
Fair value as a percentage of total investments	15.70%	14.90%
Consolidated Funds | United States | Common Stock. | Consumer staples
Investments
Investments, at fair value	499,372	443,711
Fair value as a percentage of total investments	2.60%	2.30%
Consolidated Funds | United States | Common Stock. | Energy
Investments
Investments, at fair value	82,451	150,755
Fair value as a percentage of total investments	0.40%	0.80%
Consolidated Funds | United States | Common Stock. | Financials
Investments
Investments, at fair value	10,223	8,272
Fair value as a percentage of total investments	0.10%	0.00%
Consolidated Funds | United States | Common Stock. | Healthcare, education and childcare
Investments
Investments, at fair value	533,239	464,159
Fair value as a percentage of total investments	2.80%	2.40%
Consolidated Funds | United States | Common Stock. | Industrials
Investments
Investments, at fair value	124,747	128,247
Fair value as a percentage of total investments	0.70%	0.70%
Consolidated Funds | United States | Common Stock. | Partnership and LLC interests
Investments
Investments, at fair value	114,040	89,105
Fair value as a percentage of total investments	0.60%	0.50%
Consolidated Funds | United States | Common Stock. | Telecommunication services
Investments
Investments, at fair value	9,643	16,576
Fair value as a percentage of total investments	0.10%	0.10%
Consolidated Funds | Europe | Fixed income asset
Investments
Investments, at fair value	3,171,108	3,691,380
Fair value as a percentage of total investments	16.70%	19.40%
Investments, at cost	3,232,752	3,813,343
Consolidated Funds | Europe | Fixed income asset | Consumer discretionary
Investments
Investments, at fair value	887,516	1,080,270
Fair value as a percentage of total investments	4.70%	5.60%
Consolidated Funds | Europe | Fixed income asset | Consumer staples
Investments
Investments, at fair value	108,667	126,766
Fair value as a percentage of total investments	0.60%	0.70%
Consolidated Funds | Europe | Fixed income asset | Energy
Investments
Investments, at fair value	5,138	16,509
Fair value as a percentage of total investments	0.00%	0.10%
Consolidated Funds | Europe | Fixed income asset | Financials
Investments
Investments, at fair value	362,526	345,811
Fair value as a percentage of total investments	1.90%	1.80%
Consolidated Funds | Europe | Fixed income asset | Healthcare, education and childcare
Investments
Investments, at fair value	252,273	303,116
Fair value as a percentage of total investments	1.30%	1.60%
Consolidated Funds | Europe | Fixed income asset | Industrials
Investments
Investments, at fair value	441,604	526,214
Fair value as a percentage of total investments	2.30%	2.80%
Consolidated Funds | Europe | Fixed income asset | Information technology
Investments
Investments, at fair value	145,224	130,504
Fair value as a percentage of total investments	0.80%	0.70%
Consolidated Funds | Europe | Fixed income asset | Materials
Investments
Investments, at fair value	371,322	326,659
Fair value as a percentage of total investments	2.00%	1.70%
Consolidated Funds | Europe | Fixed income asset | Telecommunication services
Investments
Investments, at fair value	595,715	833,015
Fair value as a percentage of total investments	3.10%	4.40%
Consolidated Funds | Europe | Fixed income asset | Utilities
Investments
Investments, at fair value	1,123	2,516
Fair value as a percentage of total investments	0.00%	0.00%
Consolidated Funds | Europe | Common Stock.
Investments
Investments, at fair value	55,132	53,445
Fair value as a percentage of total investments	0.20%	0.20%
Investments, at cost	102,244	98,913
Consolidated Funds | Europe | Common Stock. | Consumer discretionary
Investments
Investments, at fair value	3,678	2,940
Fair value as a percentage of total investments	0.00%	0.00%
Consolidated Funds | Europe | Common Stock. | Consumer staples
Investments
Investments, at fair value	895	862
Fair value as a percentage of total investments	0.00%	0.00%
Consolidated Funds | Europe | Common Stock. | Healthcare, education and childcare
Investments
Investments, at fair value	26,455	27,774
Fair value as a percentage of total investments	0.10%	0.10%
Consolidated Funds | Europe | Common Stock. | Industrials
Investments
Investments, at fair value		76
Fair value as a percentage of total investments		0.00%
Consolidated Funds | Europe | Common Stock. | Partnership and LLC interests
Investments
Investments, at fair value	19,012	17,107
Fair value as a percentage of total investments	0.10%	0.10%
Consolidated Funds | Europe | Common Stock. | Telecommunication services
Investments
Investments, at fair value	5,092	4,686
Fair value as a percentage of total investments	0.00%	0.00%
Consolidated Funds | Asia and other | Fixed income asset
Investments
Investments, at fair value	625,350	639,181
Fair value as a percentage of total investments	3.30%	3.40%
Investments, at cost	570,443	579,436
Consolidated Funds | Asia and other | Fixed income asset | Consumer discretionary
Investments
Investments, at fair value	68,495	73,250
Fair value as a percentage of total investments	0.40%	0.40%
Consolidated Funds | Asia and other | Fixed income asset | Financials
Investments
Investments, at fair value	480,936	493,618
Fair value as a percentage of total investments	2.50%	2.60%
Consolidated Funds | Asia and other | Fixed income asset | Healthcare, education and childcare
Investments
Investments, at fair value	38,835	41,536
Fair value as a percentage of total investments	0.20%	0.20%
Consolidated Funds | Asia and other | Fixed income asset | Telecommunication services
Investments
Investments, at fair value	37,084	30,777
Fair value as a percentage of total investments	0.20%	0.20%
Consolidated Funds | Asia and other | Common Stock.
Investments
Investments, at fair value	239,848	261,393
Fair value as a percentage of total investments	1.30%	1.40%
Investments, at cost	179,047	184,022
Consolidated Funds | Asia and other | Common Stock. | Consumer discretionary
Investments
Investments, at fair value	66,861	89,897
Fair value as a percentage of total investments	0.40%	0.50%
Consolidated Funds | Asia and other | Common Stock. | Consumer staples
Investments
Investments, at fair value	62,778	62,467
Fair value as a percentage of total investments	0.30%	0.30%
Consolidated Funds | Asia and other | Common Stock. | Healthcare, education and childcare
Investments
Investments, at fair value	32,598	33,610
Fair value as a percentage of total investments	0.20%	0.20%
Consolidated Funds | Asia and other | Common Stock. | Materials
Investments
Investments, at fair value	52,947	52,947
Fair value as a percentage of total investments	0.30%	0.30%
Consolidated Funds | Asia and other | Common Stock. | Partnership and LLC interests
Investments
Investments, at fair value	16,287	13,478
Fair value as a percentage of total investments	0.10%	0.10%
Consolidated Funds | Asia and other | Common Stock. | Utilities
Investments
Investments, at fair value	8,377	8,994
Fair value as a percentage of total investments	0.00%	0.00%
Consolidated Funds | Canada | Fixed income asset
Investments
Investments, at fair value	378,908	363,220
Fair value as a percentage of total investments	2.00%	1.90%
Investments, at cost	408,532	396,108
Consolidated Funds | Canada | Fixed income asset | Consumer discretionary
Investments
Investments, at fair value	62,163	71,379
Fair value as a percentage of total investments	0.30%	0.40%
Consolidated Funds | Canada | Fixed income asset | Consumer staples
Investments
Investments, at fair value	12,747
Fair value as a percentage of total investments	0.10%
Consolidated Funds | Canada | Fixed income asset | Energy
Investments
Investments, at fair value	60,059	60,605
Fair value as a percentage of total investments	0.30%	0.30%
Consolidated Funds | Canada | Fixed income asset | Healthcare, education and childcare
Investments
Investments, at fair value	95,322	84,470
Fair value as a percentage of total investments	0.50%	0.40%
Consolidated Funds | Canada | Fixed income asset | Industrials
Investments
Investments, at fair value	36,999	30,009
Fair value as a percentage of total investments	0.20%	0.20%
Consolidated Funds | Canada | Fixed income asset | Materials
Investments
Investments, at fair value		5,625
Fair value as a percentage of total investments		0.00%
Consolidated Funds | Canada | Fixed income asset | Partnership and LLC interests
Investments
Investments, at fair value	3,807	1,327
Fair value as a percentage of total investments	0.00%	0.00%
Consolidated Funds | Canada | Fixed income asset | Telecommunication services
Investments
Investments, at fair value	107,811	109,805
Fair value as a percentage of total investments	0.60%	0.60%
Consolidated Funds | Canada | Common Stock.
Investments
Investments, at cost	68,249	68,249
Consolidated Funds | Australia | Fixed income asset
Investments
Investments, at fair value	202,687	193,034
Fair value as a percentage of total investments	1.10%	1.00%
Investments, at cost	222,035	213,759
Consolidated Funds | Australia | Fixed income asset | Energy
Investments
Investments, at fair value	72,909	66,150
Fair value as a percentage of total investments	0.40%	0.30%
Consolidated Funds | Australia | Fixed income asset | Industrials
Investments
Investments, at fair value	40,350	32,146
Fair value as a percentage of total investments	0.20%	0.20%
Consolidated Funds | Australia | Fixed income asset | Utilities
Investments
Investments, at fair value	89,428	94,738
Fair value as a percentage of total investments	0.50%	0.50%
Consolidated Funds | Australia | Common Stock.
Investments
Investments, at fair value	13,050	15,834
Fair value as a percentage of total investments	0.00%	0.00%
Investments, at cost	22,233	22,233
Consolidated Funds | Australia | Common Stock. | Telecommunication services
Investments
Investments, at fair value	7,765	7,547
Fair value as a percentage of total investments	0.00%	0.00%
Consolidated Funds | Australia | Common Stock. | Utilities
Investments
Investments, at fair value	5,285	8,287
Fair value as a percentage of total investments	0.00%	0.00%

FAIR_VALUE_Details

FAIR VALUE (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Minimum
FAIR VALUE
Period within which investors of open ended and evergreen funds can withdraw their capital	1 month
Maximum
FAIR VALUE
Period within which investors of open ended and evergreen funds can withdraw their capital	3 years
Level III | Minimum
FAIR VALUE
Number of broker quotes to be obtained directly from dealer if pricing services are unable to provide prices to measure fair value of assets or liabilities	1
Number of broker non-binding quotes to measure fair value of assets or liabilities	1
Number of quote obtained directly from a broker making a market for the asset	1
Number of price obtained directly from a pricing vendor for each security or similar securities	1
Level III | Maximum
FAIR VALUE
Number of broker non-binding quotes to measure fair value of assets or liabilities	2
Parent Company
FAIR VALUE
Investments, at fair value	189,746	$170,324
Derivative assets, at fair value	8,217	7,623
Derivative liabilities, at fair value	-2,973	-2,850
Parent Company | Interest rate contracts
FAIR VALUE
Derivative liabilities, at fair value	-978	-847
Parent Company | Foreign exchange contracts
FAIR VALUE
Derivative assets, at fair value	8,217	7,623
Derivative liabilities, at fair value	-1,995	-2,003
Parent Company | Level I
FAIR VALUE
Investments, at fair value	95	89
Assets, at fair value	95	89
Parent Company | Level I | Common Stock.
FAIR VALUE
Investments, at fair value	95	89
Parent Company | Level II
FAIR VALUE
Investments, at fair value	1,178	1,178
Derivative assets, at fair value	8,217	7,623
Assets, at fair value	9,395	8,801
Derivative liabilities, at fair value	-2,973	-2,850
Parent Company | Level II | Forward foreign currency contracts
FAIR VALUE
Derivative assets, at fair value	8,217	5,721
Derivative liabilities, at fair value	-1,995	-2,003
Parent Company | Level II | Purchased option contracts
FAIR VALUE
Derivative assets, at fair value		1,902
Parent Company | Level II | Interest rate contracts
FAIR VALUE
Derivative liabilities, at fair value	-978	-847
Parent Company | Level II | Corporate Bonds
FAIR VALUE
Investments, at fair value	1,178	1,178
Parent Company | Level III
FAIR VALUE
Investments, at fair value	193,473	169,057
Assets, at fair value	193,473	169,057
Parent Company | Level III | Private Investment Partnership Interests
FAIR VALUE
Investments, at fair value	193,473	169,057
Parent Company | Total
FAIR VALUE
Investments, at fair value	194,746	170,324
Derivative assets, at fair value	8,217	7,623
Assets, at fair value	202,963	177,947
Derivative liabilities, at fair value	-2,973	-2,850
Parent Company | Total | Forward foreign currency contracts
FAIR VALUE
Derivative assets, at fair value	8,217	5,721
Derivative liabilities, at fair value	-1,995	-2,003
Parent Company | Total | Purchased option contracts
FAIR VALUE
Derivative assets, at fair value		1,902
Parent Company | Total | Interest rate contracts
FAIR VALUE
Derivative liabilities, at fair value	-978	-847
Parent Company | Total | Common Stock.
FAIR VALUE
Investments, at fair value	95	89
Parent Company | Total | Corporate Bonds
FAIR VALUE
Investments, at fair value	1,178	1,178
Parent Company | Total | Private Investment Partnership Interests
FAIR VALUE
Investments, at fair value	193,473	169,057
Consolidated Funds
FAIR VALUE
Investments, at fair value	18,990,943	19,123,950
Derivative assets, at fair value	3,696	3,126
Derivative liabilities, at fair value	-59,483	-42,332
Securities sold short, at fair value	-3,763	-3,763
Consolidated Funds | Interest rate contracts
FAIR VALUE
Derivative assets, at fair value		0
Derivative liabilities, at fair value		-21
Consolidated Funds | Credit contracts
FAIR VALUE
Derivative assets, at fair value	1,153
Derivative liabilities, at fair value	-11,716	-13,265
Consolidated Funds | Foreign exchange contracts
FAIR VALUE
Derivative assets, at fair value	1,652	2,070
Derivative liabilities, at fair value	-9,411	-9,991
Consolidated Funds | Other financial instruments
FAIR VALUE
Derivative assets, at fair value	891	1,056
Derivative liabilities, at fair value	-38,356	-19,055
Consolidated Funds | Loan obligations of CLOS | Ares Enhanced Loan Investment Strategy II, Ltd
FAIR VALUE
Debt carried at cost	151	151
Consolidated Funds | Level I
FAIR VALUE
Investments, at fair value	609,982	590,095
Assets, at fair value	609,982	590,095
Consolidated Funds | Level I | Common Stock.
FAIR VALUE
Investments, at fair value	609,982	590,095
Consolidated Funds | Level II
FAIR VALUE
Investments, at fair value	13,225,515	12,939,728
Derivative assets, at fair value	3,696	3,126
Assets, at fair value	13,229,211	12,942,854
Derivative liabilities, at fair value	-21,127	-20,190
Securities sold short, at fair value	-3,763	-3,763
Liabilities, at fair value	-24,890	-23,953
Consolidated Funds | Level II | Forward foreign currency contracts
FAIR VALUE
Derivative liabilities, at fair value	-9,411	-6,906
Consolidated Funds | Level II | Purchased option contracts
FAIR VALUE
Derivative assets, at fair value	890
Consolidated Funds | Level II | Credit contracts
FAIR VALUE
Derivative liabilities, at fair value	-11,716	-13,263
Consolidated Funds | Level II | Foreign exchange contracts
FAIR VALUE
Derivative assets, at fair value	873	2,070
Consolidated Funds | Level II | Interest rate swaps
FAIR VALUE
Derivative liabilities, at fair value		-21
Consolidated Funds | Level II | Other financial instruments
FAIR VALUE
Derivative assets, at fair value	1,933	1,056
Consolidated Funds | Level II | Common Stock.
FAIR VALUE
Investments, at fair value	573,582	513,771
Consolidated Funds | Level II | Corporate Bonds
FAIR VALUE
Investments, at fair value	909,652	1,113,103
Consolidated Funds | Level II | Loans
FAIR VALUE
Investments, at fair value	11,742,281	11,312,518
Consolidated Funds | Level II | Other
FAIR VALUE
Investments, at fair value		336
Consolidated Funds | Level III
FAIR VALUE
Investments, at fair value	5,155,446	5,594,127
Assets, at fair value	5,155,446	5,594,127
Derivative liabilities, at fair value	-38,356	-22,142
Liabilities, at fair value	-12,193,033	-12,071,161
Consolidated Funds | Level III | Other financial instruments
FAIR VALUE
Derivative liabilities, at fair value	-38,356	-22,142
Consolidated Funds | Level III | Loan obligations of CLOS
FAIR VALUE
Loan obligations of debt	-12,154,677	-12,049,019
Consolidated Funds | Level III | Common Stock.
FAIR VALUE
Investments, at fair value	3,321,849	3,263,311
Consolidated Funds | Level III | Corporate Bonds
FAIR VALUE
Investments, at fair value	551,906	565,634
Consolidated Funds | Level III | Private Investment Partnership Interests
FAIR VALUE
Investments, at fair value	167,985	137,272
Consolidated Funds | Level III | Loans
FAIR VALUE
Investments, at fair value	584,377	1,070,494
Consolidated Funds | Level III | Collateralized loan obligation
FAIR VALUE
Investments, at fair value	528,180	556,267
Consolidated Funds | Level III | Other
FAIR VALUE
Investments, at fair value	1,149	1,149
Consolidated Funds | Total
FAIR VALUE
Investments, at fair value	18,990,943	19,123,950
Derivative assets, at fair value	3,696	3,126
Assets, at fair value	18,994,639	19,127,076
Derivative liabilities, at fair value	-59,483	-42,332
Securities sold short, at fair value	-3,763	-3,763
Liabilities, at fair value	-12,217,923	-12,095,114
Consolidated Funds | Total | Forward foreign currency contracts
FAIR VALUE
Derivative liabilities, at fair value	-9,411	-6,906
Consolidated Funds | Total | Purchased option contracts
FAIR VALUE
Derivative assets, at fair value	890
Consolidated Funds | Total | Credit contracts
FAIR VALUE
Derivative liabilities, at fair value	-11,716	-13,263
Consolidated Funds | Total | Foreign exchange contracts
FAIR VALUE
Derivative assets, at fair value	873	2,070
Consolidated Funds | Total | Interest rate swaps
FAIR VALUE
Derivative liabilities, at fair value		-21
Consolidated Funds | Total | Other financial instruments
FAIR VALUE
Derivative assets, at fair value	1,933	1,056
Derivative liabilities, at fair value	-38,356	-22,142
Consolidated Funds | Total | Loan obligations of CLOS
FAIR VALUE
Loan obligations of debt	-12,154,677	-12,049,019
Consolidated Funds | Total | Common Stock.
FAIR VALUE
Investments, at fair value	4,505,413	4,367,177
Consolidated Funds | Total | Corporate Bonds
FAIR VALUE
Investments, at fair value	1,461,558	1,678,737
Consolidated Funds | Total | Private Investment Partnership Interests
FAIR VALUE
Investments, at fair value	167,985	137,272
Consolidated Funds | Total | Loans
FAIR VALUE
Investments, at fair value	12,326,658	12,383,012
Consolidated Funds | Total | Collateralized loan obligation
FAIR VALUE
Investments, at fair value	528,180	556,267
Consolidated Funds | Total | Other
FAIR VALUE
Investments, at fair value	1,149	$1,485

FAIR_VALUE_Details_2

FAIR VALUE (Details 2) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Changes in the fair value of the Level III investments
Transfers from Level I to Level II	$0
Parent Company | Private Investment Partnership Interests
Changes in the fair value of the Level III investments
Balance, beginning of period	169,057,000	88,177,000
Initial consolidation of new funds		9,951,000
Purchases	30,516,000	21,504,000
Sales	-7,916,000	-23,124,000
Realized and unrealized appreciation, (depreciation), net	1,816,000	23,834,000
Balance, end of period	193,473,000	120,342,000
Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date	1,947,000	4,286,000
Consolidated Funds
Changes in the fair value of the Level III investments
Balance, beginning of period	5,571,985,000	6,625,038,000
Transfer in	189,684,000	222,382,000
Deconsolidation of previous funds		-370,245,000
Deconsolidation of funds	-472,000
Transfer out	-651,566,000	-364,608,000
Purchases	199,387,000	229,132,000
Sales	-206,608,000	-448,020,000
Accrued discounts/premiums	2,070,000	10,864,000
Realized and unrealized appreciation, (depreciation), net	12,610,000	-10,919,000
Balance, end of period	5,117,090,000	5,893,624,000
Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date	14,469,000	98,865,000
Consolidated Funds | Common Stock.
Changes in the fair value of the Level III investments
Balance, beginning of period	3,263,311,000	2,958,232,000
Deconsolidation of previous funds		8,152,000
Deconsolidation of funds	-471,000
Transfer out	-163,000
Purchases		11,337,000
Sales	-20,273,000	-167,142,000
Accrued discounts/premiums	4,135,000	15,000
Realized and unrealized appreciation, (depreciation), net	75,310,000	14,627,000
Balance, end of period	3,321,849,000	2,825,221,000
Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date	62,677,000	118,757,000
Consolidated Funds | Fixed income asset
Changes in the fair value of the Level III investments
Balance, beginning of period	2,192,395,000	3,627,153,000
Transfer in	189,684,000	222,382,000
Deconsolidation of previous funds		-378,397,000
Deconsolidation of funds	-1,000
Transfer out	-651,403,000	-364,608,000
Purchases	159,797,000	215,514,000
Sales	-171,391,000	-274,491,000
Accrued discounts/premiums	-756,000	10,849,000
Realized and unrealized appreciation, (depreciation), net	-53,862,000	-29,540,000
Balance, end of period	1,664,463,000	3,028,862,000
Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date	-35,936,000	-21,711,000
Consolidated Funds | Private Investment Partnership Interests
Changes in the fair value of the Level III investments
Balance, beginning of period	137,272,000	41,001,000
Purchases	39,582,000	2,276,000
Sales	-15,155,000
Realized and unrealized appreciation, (depreciation), net	6,286,000	717,000
Balance, end of period	167,985,000	43,994,000
Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date	6,239,000	717,000
Consolidated Funds | Other financial instruments
Changes in the fair value of the Level III investments
Balance, beginning of period	-20,993,000	-1,348,000
Purchases	8,000	5,000
Sales	211,000	-6,387,000
Accrued discounts/premiums	-1,309,000
Realized and unrealized appreciation, (depreciation), net	-15,124,000	3,277,000
Balance, end of period	-37,207,000	-4,453,000
Changes in unrealized appreciation (depreciation) included in earnings related to financial assets still held at the reporting date	($18,511,000)	$1,102,000

FAIR_VALUE_Details_3

FAIR VALUE (Details 3) (Collateralized loan obligation, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Collateralized loan obligation
Changes in the fair value of the Level III investments for loan obligations
Balance, beginning of period	$12,049,019	$11,534,956
Deconsolidation of funds	-571	-3,033
Borrowings	602,074	23,528
Paydowns	-218,496	-472,434
Realized and unrealized gains, net	-277,349	-16,764
Balance, end of period	$12,154,677	$11,066,253

FAIR_VALUE_Details_4

FAIR VALUE (Details 4) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Parent Company | Level III
FAIR VALUE
Assets, at fair value	193,473	169,057
Parent Company | Level III | Recent transaction price
Unobservable Input
Period within which securities are purchased or restructured	6 months	6 months
Parent Company | Level III | Private Investment Partnership Interests | NAV
FAIR VALUE
Assets, at fair value	143,125	123,709
Parent Company | Level III | Private Investment Partnership Interests | Recent transaction price
FAIR VALUE
Assets, at fair value	50,348	45,348
Consolidated Funds | Level III
FAIR VALUE
Assets, at fair value	5,155,446	5,594,127
Liabilities, at fair value	12,193,033	12,071,161
Consolidated Funds | Level III | Recent transaction price
Unobservable Input
Period within which securities are purchased or restructured	6 months	6 months
Consolidated Funds | Level III | Fixed income liability | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Liabilities, at fair value	11,733,481	11,273,923
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow, Other
FAIR VALUE
Liabilities, at fair value	67,948
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow, Other | Minimum
Unobservable Input
Discount rate (as a percent)	5.30%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow, Other | Maximum
Unobservable Input
Discount rate (as a percent)	6.80%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow, Other | Weighted Average
Unobservable Input
Discount rate (as a percent)	6.10%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow, Discount rate
FAIR VALUE
Liabilities, at fair value	353,248	258,096
Unobservable Input
Discount rate (as a percent)		11.50%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow, Discount rate | Minimum
Unobservable Input
Discount rate (as a percent)	12.00%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow, Discount rate | Maximum
Unobservable Input
Discount rate (as a percent)	15.00%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow, Discount rate | Weighted Average
Unobservable Input
Discount rate (as a percent)	13.00%	11.50%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow Constant default rate, Constant prepayment rate, Recovery rate | Minimum
Unobservable Input
Constant default rate (as a percent)	2.00%	2.00%
Recovery rate (as a percent)	10.00%	10.00%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow Constant default rate, Constant prepayment rate, Recovery rate | Maximum
Unobservable Input
Constant default rate (as a percent)	10.00%	10.00%
Recovery rate (as a percent)	80.00%	80.00%
Constant prepayment rate (as a percent)	50.00%	50.00%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow Constant default rate, Constant prepayment rate, Recovery rate | Weighted Average
Unobservable Input
Constant default rate (as a percent)	2.00%	2.10%
Recovery rate (as a percent)	75.00%	74.60%
Constant prepayment rate (as a percent)	20.00%	20.40%
Consolidated Funds | Level III | Fixed income liability | Market approach (other)
FAIR VALUE
Liabilities, at fair value		616
Consolidated Funds | Level III | Fixed income liability | Recent transaction price
FAIR VALUE
Liabilities, at fair value		499,305
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow
FAIR VALUE
Liabilities, at fair value		17,079
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow | Minimum
Unobservable Input
Discount rate (as a percent)		300.00%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow | Maximum
Unobservable Input
Discount rate (as a percent)		800.00%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow | Weighted Average
Unobservable Input
Discount rate (as a percent)		482.50%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow 2 | Minimum
Unobservable Input
Constant default rate (as a percent)	2.00%	2.00%
Recovery rate (as a percent)	10.00%	10.00%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow 2 | Maximum
Unobservable Input
Constant default rate (as a percent)	10.00%	10.00%
Recovery rate (as a percent)	80.00%	80.00%
Constant prepayment rate (as a percent)	50.00%	50.00%
Consolidated Funds | Level III | Fixed income liability | Discounted cash flow 2 | Weighted Average
Unobservable Input
Constant default rate (as a percent)	2.00%	2.00%
Recovery rate (as a percent)	75.00%	75.00%
Constant prepayment rate (as a percent)	20.00%	23.00%
Consolidated Funds | Level III | Derivatives liabilities of Consolidated Funds | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Liabilities, at fair value	38,356	22,142
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | EV market multiple analysis
FAIR VALUE
Assets, at fair value	3,678	2,940
Unobservable Input
EBITDA multiple	9.4	9.4
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | EV market multiple analysis | Weighted Average
Unobservable Input
EBITDA multiple	9.4	9.4
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Market approach (comparable companies), Book value multiple
FAIR VALUE
Assets, at fair value	219,945	208,498
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Market approach (comparable companies), Book value multiple | Minimum
Unobservable Input
Book value multiple	1.8	1.7
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Market approach (comparable companies), Book value multiple | Maximum
Unobservable Input
Book value multiple	2	2
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Market approach (comparable companies), Book value multiple | Weighted Average
Unobservable Input
Book value multiple	1.9	1.9
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Market approach (comparable companies), EBITDA multiple
FAIR VALUE
Assets, at fair value	2,175,607	2,121,864
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Market approach (comparable companies), EBITDA multiple | Minimum
Unobservable Input
EBITDA multiple	8.5	7
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Market approach (comparable companies), EBITDA multiple | Maximum
Unobservable Input
EBITDA multiple	15	15
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Market approach (comparable companies), EBITDA multiple | Weighted Average
Unobservable Input
EBITDA multiple	10.8	10.7
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Other
FAIR VALUE
Assets, at fair value	711
Unobservable Input
Future distribution estimate (as a percent)	82.40%
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Other | Weighted Average
Unobservable Input
Future distribution estimate (as a percent)	82.40%
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Other, Illiquidity discount
FAIR VALUE
Assets, at fair value	4,236	5,140
Unobservable Input
Illiquidity discount (as a percent)	15.00%	15.00%
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Other, Illiquidity discount | Weighted Average
Unobservable Input
Illiquidity discount (as a percent)	15.00%	15.00%
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Other, Future distribution estimates
FAIR VALUE
Assets, at fair value		979
Unobservable Input
Future distribution estimate		18.7
Consolidated Funds | Level III | Common Stock. | Consumer discretionary | Other, Future distribution estimates | Weighted Average
Unobservable Input
Future distribution estimate		18.7
Consolidated Funds | Level III | Common Stock. | Consumer staples | EV market multiple analysis
FAIR VALUE
Assets, at fair value	895	862
Unobservable Input
EBITDA multiple	7.9	7.9
Consolidated Funds | Level III | Common Stock. | Consumer staples | EV market multiple analysis | Weighted Average
Unobservable Input
EBITDA multiple	7.9	7.9
Consolidated Funds | Level III | Common Stock. | Consumer staples | Market approach (comparable companies), EBITDA multiple
FAIR VALUE
Assets, at fair value	14,492	10,349
Unobservable Input
EBITDA multiple	7	7
Consolidated Funds | Level III | Common Stock. | Consumer staples | Market approach (comparable companies), EBITDA multiple | Weighted Average
Unobservable Input
EBITDA multiple	7	7
Consolidated Funds | Level III | Common Stock. | Consumer staples | Market approach (comparable companies),Net income multiple
FAIR VALUE
Assets, at fair value	41,561	44,553
Unobservable Input
Net income multiple	11	11
Consolidated Funds | Level III | Common Stock. | Consumer staples | Market approach (comparable companies),Net income multiple | Weighted Average
Unobservable Input
Net income multiple	11	11
Consolidated Funds | Level III | Common Stock. | Energy
Unobservable Input
EBITDA multiple	6	7.5
Consolidated Funds | Level III | Common Stock. | Energy | Weighted Average
Unobservable Input
EBITDA multiple	6	7.5
Consolidated Funds | Level III | Common Stock. | Energy | Discounted cash flow, Discount rate
FAIR VALUE
Assets, at fair value	68,000	136,045
Unobservable Input
Discount rate (as a percent)	8.00%	9.00%
Consolidated Funds | Level III | Common Stock. | Energy | Discounted cash flow, Discount rate | Weighted Average
Unobservable Input
Discount rate (as a percent)	8.00%	9.00%
Consolidated Funds | Level III | Common Stock. | Financials | EV market multiple analysis
FAIR VALUE
Assets, at fair value	9,171	8,272
Unobservable Input
EBITDA multiple	10.5	10.5
Consolidated Funds | Level III | Common Stock. | Financials | EV market multiple analysis | Weighted Average
Unobservable Input
EBITDA multiple	10.5	10.5
Consolidated Funds | Level III | Common Stock. | Financials | Recent transaction price
FAIR VALUE
Assets, at fair value	7,959
Consolidated Funds | Level III | Common Stock. | Healthcare, education and childcare | EV market multiple analysis
FAIR VALUE
Assets, at fair value	26,455	27,774
Consolidated Funds | Level III | Common Stock. | Healthcare, education and childcare | EV market multiple analysis | Minimum
Unobservable Input
EBITDA multiple	1.6	1.6
Consolidated Funds | Level III | Common Stock. | Healthcare, education and childcare | EV market multiple analysis | Maximum
Unobservable Input
EBITDA multiple	7.1	7.1
Consolidated Funds | Level III | Common Stock. | Healthcare, education and childcare | EV market multiple analysis | Weighted Average
Unobservable Input
EBITDA multiple	4.5	5.4
Consolidated Funds | Level III | Common Stock. | Healthcare, education and childcare | Market approach (comparable companies), EBITDA multiple
FAIR VALUE
Assets, at fair value	532,156	463,075
Consolidated Funds | Level III | Common Stock. | Healthcare, education and childcare | Market approach (comparable companies), EBITDA multiple | Minimum
Unobservable Input
EBITDA multiple	8	8
Consolidated Funds | Level III | Common Stock. | Healthcare, education and childcare | Market approach (comparable companies), EBITDA multiple | Maximum
Unobservable Input
EBITDA multiple	13	13
Consolidated Funds | Level III | Common Stock. | Healthcare, education and childcare | Market approach (comparable companies), EBITDA multiple | Weighted Average
Unobservable Input
EBITDA multiple	11.1	11.2
Consolidated Funds | Level III | Common Stock. | Healthcare, education and childcare | Market approach (comparable companies),Net income multiple
FAIR VALUE
Assets, at fair value	32,598	33,610
Unobservable Input
Net income multiple	35	35
Consolidated Funds | Level III | Common Stock. | Healthcare, education and childcare | Market approach (comparable companies),Net income multiple | Weighted Average
Unobservable Input
Net income multiple	35	35
Consolidated Funds | Level III | Common Stock. | Industrials | Market approach (comparable companies), EBITDA multiple
FAIR VALUE
Assets, at fair value	124,682	128,182
Consolidated Funds | Level III | Common Stock. | Industrials | Market approach (comparable companies), EBITDA multiple | Minimum
Unobservable Input
EBITDA multiple	8	8
Consolidated Funds | Level III | Common Stock. | Industrials | Market approach (comparable companies), EBITDA multiple | Maximum
Unobservable Input
EBITDA multiple	12	12
Consolidated Funds | Level III | Common Stock. | Industrials | Market approach (comparable companies), EBITDA multiple | Weighted Average
Unobservable Input
EBITDA multiple	9.8	9.8
Consolidated Funds | Level III | Common Stock. | Industrials | Recent transaction price
FAIR VALUE
Assets, at fair value		76
Consolidated Funds | Level III | Common Stock. | Materials | Market approach (comparable companies),Net income multiple
FAIR VALUE
Assets, at fair value	52,947	52,947
Unobservable Input
Net income multiple		9
Consolidated Funds | Level III | Common Stock. | Materials | Market approach (comparable companies),Net income multiple | Minimum
Unobservable Input
Net income multiple	9
Consolidated Funds | Level III | Common Stock. | Materials | Market approach (comparable companies),Net income multiple | Weighted Average
Unobservable Input
Net income multiple	9	9
Consolidated Funds | Level III | Common Stock. | Telecommunication services | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value		331
Consolidated Funds | Level III | Common Stock. | Telecommunication services | EV market multiple analysis
FAIR VALUE
Assets, at fair value	460	533
Unobservable Input
EBITDA multiple	10	10
Consolidated Funds | Level III | Common Stock. | Telecommunication services | EV market multiple analysis | Weighted Average
Unobservable Input
EBITDA multiple	10	10
Consolidated Funds | Level III | Common Stock. | Telecommunication services | Recent transaction price
FAIR VALUE
Assets, at fair value	593
Consolidated Funds | Level III | Common Stock. | Utilities | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value	13,662	17,281
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value	196,267	256,994
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | EV market multiple analysis
FAIR VALUE
Assets, at fair value	17,339	18,205
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | EV market multiple analysis | Minimum
Unobservable Input
EBITDA multiple	8	9
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | EV market multiple analysis | Maximum
Unobservable Input
EBITDA multiple	13.5	11
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | EV market multiple analysis | Weighted Average
Unobservable Input
EBITDA multiple	12.8	9.3
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Income approach (other), Yield
FAIR VALUE
Assets, at fair value	59,299	69,418
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Income approach (other), Yield | Minimum
Unobservable Input
Yield (as a percent)	2.50%	2.50%
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Income approach (other), Yield | Maximum
Unobservable Input
Yield (as a percent)	13.00%	18.70%
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Income approach (other), Yield | Weighted Average
Unobservable Input
Yield (as a percent)	11.90%	12.80%
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Market approach (comparable companies), Book value multiple
FAIR VALUE
Assets, at fair value	122,543	120,658
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Market approach (comparable companies), Book value multiple | Minimum
Unobservable Input
Book value multiple	1.7	1.7
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Market approach (comparable companies), Book value multiple | Maximum
Unobservable Input
Book value multiple	2	2
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Market approach (comparable companies), Book value multiple | Weighted Average
Unobservable Input
Book value multiple	1.9	1.9
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Market approach (comparable companies), EBITDA multiple
FAIR VALUE
Assets, at fair value		15,400
Unobservable Input
EBITDA multiple		7.5
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Market approach (comparable companies), EBITDA multiple | Weighted Average
Unobservable Input
EBITDA multiple		7.5
Consolidated Funds | Level III | Fixed income asset | Consumer discretionary | Recent transaction price
FAIR VALUE
Assets, at fair value	5,265	5,923
Consolidated Funds | Level III | Fixed income asset | Consumer staples | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value		28,965
Consolidated Funds | Level III | Fixed income asset | Consumer staples | Discounted cash flow, Discount rate
FAIR VALUE
Assets, at fair value	493	540
Unobservable Input
Discount rate (as a percent)	20.00%	20.00%
Consolidated Funds | Level III | Fixed income asset | Consumer staples | Discounted cash flow, Discount rate | Weighted Average
Unobservable Input
Discount rate (as a percent)	20.00%	20.00%
Consolidated Funds | Level III | Fixed income asset | Consumer staples | Market approach (comparable companies), EBITDA multiple
FAIR VALUE
Assets, at fair value	1,202	776
Unobservable Input
EBITDA multiple	6.5	6.5
Consolidated Funds | Level III | Fixed income asset | Consumer staples | Market approach (comparable companies), EBITDA multiple | Weighted Average
Unobservable Input
EBITDA multiple	6.5	6.5
Consolidated Funds | Level III | Fixed income asset | Energy | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value		33,687
Consolidated Funds | Level III | Fixed income asset | Financials | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value	527,998	470,417
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow, Discount rate
FAIR VALUE
Assets, at fair value	37,927	85,851
Unobservable Input
Discount rate (as a percent)	11.50%	11.50%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow, Discount rate | Weighted Average
Unobservable Input
Discount rate (as a percent)	11.50%	11.50%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow Constant default rate, Constant prepayment rate, Recovery rate | Minimum
Unobservable Input
Constant default rate (as a percent)	2.00%	2.00%
Recovery rate (as a percent)	10.00%	10.00%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow Constant default rate, Constant prepayment rate, Recovery rate | Maximum
Unobservable Input
Constant default rate (as a percent)	10.00%	10.00%
Recovery rate (as a percent)	80.00%	80.00%
Constant prepayment rate (as a percent)	50.00%	50.00%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow Constant default rate, Constant prepayment rate, Recovery rate | Weighted Average
Unobservable Input
Constant default rate (as a percent)	2.10%	2.20%
Recovery rate (as a percent)	73.20%	73.80%
Constant prepayment rate (as a percent)	21.30%	21.50%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow, Discount rate and Cumulative Loss Rate
FAIR VALUE
Assets, at fair value	5,274	8,551
Unobservable Input
Discount rate (as a percent)	16.60%	13.30%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow, Discount rate and Cumulative Loss Rate | Weighted Average
Unobservable Input
Discount rate (as a percent)	16.60%	13.30%
Cumulative loss rate (as a percent)		10.00%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow, Cumulative loss rate
Unobservable Input
Cumulative loss rate (as a percent)		10.00%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow, Cumulative loss rate | Maximum
Unobservable Input
Cumulative loss rate (as a percent)	8.40%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow, Cumulative loss rate | Weighted Average
Unobservable Input
Cumulative loss rate (as a percent)	8.40%
Consolidated Funds | Level III | Fixed income asset | Financials | Income approach (other), Yield
FAIR VALUE
Assets, at fair value	247,584	224,245
Consolidated Funds | Level III | Fixed income asset | Financials | Income approach (other), Yield | Minimum
Unobservable Input
Yield (as a percent)	9.50%	9.50%
Consolidated Funds | Level III | Fixed income asset | Financials | Income approach (other), Yield | Maximum
Unobservable Input
Yield (as a percent)	11.50%	11.50%
Consolidated Funds | Level III | Fixed income asset | Financials | Income approach (other), Yield | Weighted Average
Unobservable Input
Yield (as a percent)	10.50%	10.50%
Consolidated Funds | Level III | Fixed income asset | Financials | Income approach (other), Cash flow % of book value
FAIR VALUE
Assets, at fair value	2,256	2,541
Unobservable Input
Cash Flow % of Book Value	8.70%	8.70%
Consolidated Funds | Level III | Fixed income asset | Financials | Income approach (other), Cash flow % of book value | Weighted Average
Unobservable Input
Cash Flow % of Book Value	8.70%	8.70%
Consolidated Funds | Level III | Fixed income asset | Financials | NAV
FAIR VALUE
Assets, at fair value	3,807
Consolidated Funds | Level III | Fixed income asset | Financials | Recent transaction price
FAIR VALUE
Assets, at fair value		17,582
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow
FAIR VALUE
Assets, at fair value	14,839
Unobservable Input
Constant default rate (as a percent)	9.90%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow | Weighted Average
Unobservable Input
Constant default rate (as a percent)	9.90%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow 2
Unobservable Input
Recovery rate (as a percent)	30.00%
Constant prepayment rate (as a percent)	10.00%
Consolidated Funds | Level III | Fixed income asset | Financials | Discounted cash flow 2 | Weighted Average
Unobservable Input
Recovery rate (as a percent)	30.00%
Constant prepayment rate (as a percent)	10.00%
Consolidated Funds | Level III | Fixed income asset | Healthcare, education and childcare | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value	40,891	168,371
Consolidated Funds | Level III | Fixed income asset | Healthcare, education and childcare | EV market multiple analysis
FAIR VALUE
Assets, at fair value	19,527	20,104
Consolidated Funds | Level III | Fixed income asset | Healthcare, education and childcare | EV market multiple analysis | Minimum
Unobservable Input
EBITDA multiple	1.6	1.6
Consolidated Funds | Level III | Fixed income asset | Healthcare, education and childcare | EV market multiple analysis | Maximum
Unobservable Input
EBITDA multiple	7.1	7.1
Consolidated Funds | Level III | Fixed income asset | Healthcare, education and childcare | EV market multiple analysis | Weighted Average
Unobservable Input
EBITDA multiple	5.6	5.6
Consolidated Funds | Level III | Fixed income asset | Healthcare, education and childcare | Income approach (other), Yield
FAIR VALUE
Assets, at fair value	24,605	25,549
Unobservable Input
Yield (as a percent)	6.00%	6.00%
Consolidated Funds | Level III | Fixed income asset | Healthcare, education and childcare | Income approach (other), Yield | Weighted Average
Unobservable Input
Yield (as a percent)	5.80%	6.00%
Consolidated Funds | Level III | Fixed income asset | Industrials | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value	102,659	196,725
Consolidated Funds | Level III | Fixed income asset | Industrials | Income approach (other), Yield
FAIR VALUE
Assets, at fair value	28,052	43,614
Consolidated Funds | Level III | Fixed income asset | Industrials | Income approach (other), Yield | Minimum
Unobservable Input
Yield (as a percent)	5.30%	2.50%
Consolidated Funds | Level III | Fixed income asset | Industrials | Income approach (other), Yield | Maximum
Unobservable Input
Yield (as a percent)	13.30%	13.50%
Consolidated Funds | Level III | Fixed income asset | Industrials | Income approach (other), Yield | Weighted Average
Unobservable Input
Yield (as a percent)	10.80%	12.10%
Consolidated Funds | Level III | Fixed income asset | Industrials | Market approach (comparable companies), EBITDA multiple
FAIR VALUE
Assets, at fair value	32,315	32,315
Consolidated Funds | Level III | Fixed income asset | Industrials | Market approach (comparable companies), EBITDA multiple | Minimum
Unobservable Input
EBITDA multiple	9	9
Consolidated Funds | Level III | Fixed income asset | Industrials | Market approach (comparable companies), EBITDA multiple | Maximum
Unobservable Input
EBITDA multiple	12	12
Consolidated Funds | Level III | Fixed income asset | Industrials | Market approach (comparable companies), EBITDA multiple | Weighted Average
Unobservable Input
EBITDA multiple	10.5	10.5
Consolidated Funds | Level III | Fixed income asset | Information technology | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value	6,837	137,042
Consolidated Funds | Level III | Fixed income asset | Materials | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value	142,374	212,022
Consolidated Funds | Level III | Fixed income asset | Telecommunication services | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value	35,797	14,482
Consolidated Funds | Level III | Fixed income asset | Partnership and LLC interests | NAV
FAIR VALUE
Assets, at fair value	149,339	119,690
Consolidated Funds | Level III | Other. | Healthcare, education and childcare | Market approach (comparable companies), EBITDA multiple
FAIR VALUE
Assets, at fair value	1,084	1,084
Unobservable Input
EBITDA multiple		8.8
Consolidated Funds | Level III | Other. | Healthcare, education and childcare | Market approach (comparable companies), EBITDA multiple | Minimum
Unobservable Input
EBITDA multiple	8.8
Consolidated Funds | Level III | Other. | Healthcare, education and childcare | Market approach (comparable companies), EBITDA multiple | Weighted Average
Unobservable Input
EBITDA multiple	8.8	8.8
Consolidated Funds | Level III | Other. | Industrials | Broker quotes and/or 3rd party pricing services
FAIR VALUE
Assets, at fair value	65	65
Consolidated Funds | Private Equity Group
Unobservable Input
Liquidity discount percentage	30.00%	30.00%

FAIR_VALUE_Details_5

FAIR VALUE (Details 5) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
FAIR VALUE
Fair Value	$296,271	$243,399
Unfunded Commitments	236,435	176,707
Direct Lending Group
FAIR VALUE
Fair Value	40,559	30,501
Unfunded Commitments	20,792	26,854
Real Estate Group
FAIR VALUE
Fair Value	59,541	49,178
Unfunded Commitments	87,311	45,239
Tradable Credit Group
FAIR VALUE
Fair Value	56,878	52,001
Unfunded Commitments	51,048	7,420
Redemption restriction period	9 months	9 months
Private Equity Group
FAIR VALUE
Fair Value	139,293	111,719
Unfunded Commitments	$77,284	$97,194

LOANS_HELD_AS_INVESTMENTS_Deta

LOANS HELD AS INVESTMENTS (Details) (Consolidated Funds, USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Activity in loans held as investments
Balance at beginning of period	$77,514,000
Loan acquisition and origination	183,732,000
Allowance for loan losses	-119,000
Principal repayment	-176,069,000
Amortization of loan origination fees	156,000
Balance at end of period	85,214,000
Changes in the allowance for loan losses
Balance at the beginning of the period	1,185,000
Increase in allowance for loan losses	119,000
Balance at the end of the period	1,304,000
Loan receivable balance
Loan receivables - unpaid principal balance	86,921,000	79,018,000
Unamortized loan origination fees	-235,000	-196,000
Deferred interest on non-accrual loans	-168,000	-123,000
Allowance for loan losses	-1,304,000
Loans and Leases Receivable, Net Amount, Total	85,214,000
Loan commitment amount to borrowers	151,100,000	155,100,000
undrawn loan commitment amount to borrowers	64,200,000	76,100,000
Carrying Value
LOANS HELD AS INVESTMENTS
Loans held for investments	85,214,000	77,514,000
Total
LOANS HELD AS INVESTMENTS
Loans held for investments	86,518,000	78,895,000
Level III
LOANS HELD AS INVESTMENTS
Loans held for investments	$86,518,000	$78,895,000

DERIVATIVE_FINANCIAL_INSTRUMEN2

DERIVATIVE FINANCIAL INSTRUMENTS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
	item
DERIVATIVE FINANCIAL INSTRUMENTS
Number of counterparties	2
Number of interest rates	2
Parent Company
Assets
Notional amount, Assets	102,217	$161,890
Fair Value, Assets	8,217	7,623
Fair Value, Warrants	189,746	170,324
Liabilities
Notional amount, Liabilities	315,341	352,231
Fair Value, Liabilities	2,973	2,850
Parent Company | Interest rate contracts
Liabilities
Notional amount, Liabilities	250,000	250,000
Fair Value, Liabilities	978	847
Parent Company | Foreign exchange contracts
Assets
Notional amount, Assets	102,217	161,890
Fair Value, Assets	8,217	7,623
Liabilities
Notional amount, Liabilities	65,341	102,231
Fair Value, Liabilities	1,995	2,003
Consolidated Funds
Assets
Notional amount, Assets	181,844	81,845
Notional amount, Total	185,550	161,396
Fair Value, Assets	3,696	3,126
Fair Value, Warrants	18,990,943	19,123,950
Fair Value, Total	8,125	6,992
Liabilities
Notional amount, Liabilities	470,822	693,175
Fair Value, Liabilities	59,483	42,332
Consolidated Funds | Interest rate contracts
Assets
Notional amount, Assets	37,000	34,000
Fair Value, Assets		0
Liabilities
Notional amount, Liabilities		10,000
Fair Value, Liabilities		21
Consolidated Funds | Credit contracts
Assets
Notional amount, Assets	101,000
Fair Value, Assets	1,153
Liabilities
Notional amount, Liabilities	223,756	385,296
Fair Value, Liabilities	11,716	13,265
Consolidated Funds | Equity contracts | Other
Assets
Notional amount, Assets	3,706	79,551
Fair Value, Warrants	4,429	3,866
Consolidated Funds | Foreign exchange contracts
Assets
Notional amount, Assets	40,330	43,303
Fair Value, Assets	1,652	2,070
Liabilities
Notional amount, Liabilities	152,983	207,577
Fair Value, Liabilities	9,411	9,991
Consolidated Funds | Other financial instruments
Assets
Notional amount, Assets	3,514	4,542
Fair Value, Assets	891	1,056
Liabilities
Notional amount, Liabilities	94,083	90,302
Fair Value, Liabilities	38,356	$19,055

DERIVATIVE_FINANCIAL_INSTRUMEN3

DERIVATIVE FINANCIAL INSTRUMENTS (Details 2) (Net realized gain (loss) on investments, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Parent Company
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	$6,801	($1,134)
Total net change in unrealized appreciation (depreciation) on investments	1,316	-67
Parent Company | Purchased option contracts | Purchased
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	2,022
Total net change in unrealized appreciation (depreciation) on investments	-1,057	-61
Parent Company | Swaps
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-337	-341
Total net change in unrealized appreciation (depreciation) on investments	-131	57
Parent Company | Foreign currency forward contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	5,116	-793
Total net change in unrealized appreciation (depreciation) on investments	2,504	-63
Parent Company | Interest rate contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-337	-341
Total net change in unrealized appreciation (depreciation) on investments	-131	57
Parent Company | Interest rate contracts | Swaps
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-337	-341
Total net change in unrealized appreciation (depreciation) on investments	-131	57
Parent Company | Foreign exchange contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	7,138	-793
Total net change in unrealized appreciation (depreciation) on investments	1,447	-124
Parent Company | Foreign exchange contracts | Purchased option contracts | Purchased
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	2,022
Total net change in unrealized appreciation (depreciation) on investments	-1,057	-61
Parent Company | Foreign exchange contracts | Foreign currency forward contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	5,116	-793
Total net change in unrealized appreciation (depreciation) on investments	2,504	-63
Consolidated Funds
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-10,122	-24,240
Total net change in unrealized appreciation (depreciation) on investments	1,526	7,804
Consolidated Funds | Purchased option contracts | Purchased
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-2,582	-2,292
Total net change in unrealized appreciation (depreciation) on investments	-184	-1,668
Consolidated Funds | Purchased option contracts | Written
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments		1,853
Total net change in unrealized appreciation (depreciation) on investments		-1,214
Consolidated Funds | Swaps
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-10,730	-7,174
Total net change in unrealized appreciation (depreciation) on investments	2,104	-472
Consolidated Funds | Interest rate caps/floor
DERIVATIVE FINANCIAL INSTRUMENTS
Total net change in unrealized appreciation (depreciation) on investments		-4
Consolidated Funds | Other
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments		1,261
Total net change in unrealized appreciation (depreciation) on investments	40	-7,180
Consolidated Funds | Foreign currency forward contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	3,190	-17,888
Total net change in unrealized appreciation (depreciation) on investments	-434	18,342
Consolidated Funds | Interest rate contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-135	-514
Total net change in unrealized appreciation (depreciation) on investments	135	-368
Consolidated Funds | Interest rate contracts | Swaps
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-135	-514
Total net change in unrealized appreciation (depreciation) on investments	135	-342
Consolidated Funds | Interest rate contracts | Interest rate caps/floor
DERIVATIVE FINANCIAL INSTRUMENTS
Total net change in unrealized appreciation (depreciation) on investments		-4
Consolidated Funds | Interest rate contracts | Foreign currency forward contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net change in unrealized appreciation (depreciation) on investments		-22
Consolidated Funds | Credit contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-9,449	-10,206
Total net change in unrealized appreciation (depreciation) on investments	-113	3,476
Consolidated Funds | Credit contracts | Swaps
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-9,449	-10,206
Total net change in unrealized appreciation (depreciation) on investments	-113	3,476
Consolidated Funds | Equity contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-2,582	-758
Total net change in unrealized appreciation (depreciation) on investments	-151	-5,850
Consolidated Funds | Equity contracts | Purchased option contracts | Purchased
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-2,582	-2,019
Total net change in unrealized appreciation (depreciation) on investments	-191	108
Consolidated Funds | Equity contracts | Other
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments		1,261
Total net change in unrealized appreciation (depreciation) on investments	40	-7,180
Consolidated Funds | Equity contracts | Foreign currency forward contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net change in unrealized appreciation (depreciation) on investments		1,222
Consolidated Funds | Foreign exchange contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	3,190	-16,308
Total net change in unrealized appreciation (depreciation) on investments	-427	14,250
Consolidated Funds | Foreign exchange contracts | Purchased option contracts | Purchased
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments		-273
Total net change in unrealized appreciation (depreciation) on investments	7	-1,663
Consolidated Funds | Foreign exchange contracts | Purchased option contracts | Written
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments		1,853
Total net change in unrealized appreciation (depreciation) on investments		-1,214
Consolidated Funds | Foreign exchange contracts | Swaps
DERIVATIVE FINANCIAL INSTRUMENTS
Total net change in unrealized appreciation (depreciation) on investments		-15
Consolidated Funds | Foreign exchange contracts | Foreign currency forward contracts
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	3,190	-17,888
Total net change in unrealized appreciation (depreciation) on investments	-434	17,142
Consolidated Funds | Other financial instruments
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-1,146	3,546
Total net change in unrealized appreciation (depreciation) on investments	2,082	-3,704
Consolidated Funds | Other financial instruments | Purchased option contracts | Purchased
DERIVATIVE FINANCIAL INSTRUMENTS
Total net change in unrealized appreciation (depreciation) on investments		-113
Consolidated Funds | Other financial instruments | Swaps
DERIVATIVE FINANCIAL INSTRUMENTS
Total net realized gain (loss) on investments	-1,146	3,546
Total net change in unrealized appreciation (depreciation) on investments	$2,082	($3,591)

DERIVATIVE_FINANCIAL_INSTRUMEN4

DERIVATIVE FINANCIAL INSTRUMENTS (Details 3) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Parent Company
Derivatives, Assets
Gross Amounts of Recognized Assets	$8,217	$7,623
Net Amounts of Assets Presented	8,217	7,623
Gross Amounts Not Offset in the Statement of Financial Position
Financial Instruments	1,995	1,056
Net Amount	6,222	6,567
Total
Gross Amounts of Recognized Assets	8,217	7,623
Net Amounts of Assets Presented	8,217	7,623
Gross Amounts Not Offset in the Statement of Financial Position
Financial Instruments	1,995	1,056
Net Amount	6,222	6,567
Derivatives, Liabilities
Gross Amounts of Recognized Liabilities	-2,973	-2,850
Derivatives instruments	-2,973	-2,850
Gross Amounts Not Offset in the Statement of Financial Position
Financial Instruments	-1,995	-1,056
Net Amount	-978	-1,794
Total
Gross Amounts of Recognized Liabilities	-2,973	-2,850
Net Amounts of Liabilities Presented	-2,973	-2,850
Gross Amounts Not Offset in the Statement of Financial Position
Financial Instruments	-1,995	-1,056
Net Amount	-978	-1,794
Grand Total
Gross Amounts of Recognized Assets (Liabilities)	5,244	4,773
Net Amounts of Assets (Liabilities) Presented	5,244	4,773
Gross Amounts Not Offset in the Statement of Financial Position
Net Amount	5,244	4,773
Consolidated Funds
Derivatives, Assets
Gross Amounts of Recognized Assets	4,877	4,940
Gross Amounts Offset in Assets	1,181	1,814
Net Amounts of Assets Presented	3,696	3,126
Gross Amounts Not Offset in the Statement of Financial Position
Financial Instruments	727	989
Cash Collateral Received	-1,080	-2,295
Net Amount	4,049	4,432
Reverse repurchase, securities borrowing, and similar arrangements
Gross Amounts of Recognized Assets	4,150	4,150
Net Amounts of Assets Presented	4,150	4,150
Net Amount	4,150	4,150
Total
Gross Amounts of Recognized Assets	9,027	9,090
Gross Amounts Offset in Assets	1,181	1,814
Net Amounts of Assets Presented	7,846	7,276
Gross Amounts Not Offset in the Statement of Financial Position
Financial Instruments	727	989
Cash Collateral Received	-1,080	-2,295
Net Amount	8,199	8,582
Derivatives, Liabilities
Gross Amounts of Recognized Liabilities	-60,664	-44,146
Gross Amounts Offset in Liabilities	-1,181	-1,814
Derivatives instruments	-59,483	-42,332
Gross Amounts Not Offset in the Statement of Financial Position
Financial Instruments	-727	-989
Cash Collateral Pledged	-11,119	-12,386
Net Amount	-47,637	-28,957
Total
Gross Amounts of Recognized Liabilities	-60,664	-44,146
Gross Amounts Offset in Liabilities	-1,181	-1,814
Net Amounts of Liabilities Presented	-59,483	-42,332
Gross Amounts Not Offset in the Statement of Financial Position
Financial Instruments	-727	-989
Cash Collateral Pledged	-11,119	-12,386
Net Amount	-47,637	-28,957
Grand Total
Gross Amounts of Recognized Assets (Liabilities)	-51,637	-35,056
Net Amounts of Assets (Liabilities) Presented	-51,637	-35,056
Gross Amounts Not Offset in the Statement of Financial Position
Cash Collateral Received (Pledged)	-12,199	-14,681
Net Amount	($39,438)	($20,375)

DEBT_Details

DEBT (Details) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Oct. 08, 2014	Dec. 31, 2014
Parent Company
DEBT
Amount outstanding	$298,614,000			$243,491,000
Other assets
DEBT
Unamortized debt issuance costs				5,300,000
Revolving credit line | Parent Company
DEBT
Maximum borrowing capacity	1,030,000,000
Unused commitment fees (as a percent)	0.20%
Amount outstanding	60,000,000			0
Revolving credit line | Base rate | Parent Company
DEBT
Interest rate basis	base rate
Interest rate spread (as a percent)	0.50%
Revolving credit line | LIBOR | Parent Company
DEBT
Interest rate basis	LIBOR
Interest rate spread (as a percent)	1.50%
Line of credit | Parent Company
DEBT
Amount outstanding	243,600,000			245,800,000
Debt issuance costs	5,000,000	5,300,000
Line of credit | Interest expense. | Parent Company
DEBT
Interest expense	200,000	600,000
Expense relating to unused commitment fee	500,000	400,000
Line of credit | Interest expense and debt extinguishment expense | Parent Company
DEBT
Amortization of debt issuance costs	300,000	200,000
Senior secured notes | Parent Company
DEBT
Face amount			250,000,000
Debt issuance percentage			98.27%
Debt issuance costs			2,400,000
Unamortized debt issuance costs			4,300,000
Redemption percentage			100.00%
Fixed rate obligation (as a percent)			4.00%
Effective rate (as a percent)	4.21%
Senior secured notes | Interest expense. | Parent Company
DEBT
Interest expense	3,700,000
Amortization of debt issuance costs	400,000
Senior secured notes | Other assets | Parent Company
DEBT
Unamortized debt issuance costs	$2,200,000			$2,300,000

DEBT_Details_2

DEBT (Details 2) (Consolidated Funds, USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
DEBT
Market Value of Loan Obligations	$12,154,677	$12,049,170
Collateralized loan obligation
DEBT
Market Value of Loan Obligations	12,154,677	12,049,170
Loan Obligations	12,956,979	13,001,113
Senior secured notes | Collateralized loan obligation
DEBT
Borrowing Outstanding	11,360,083	11,394,820
Market Value of Loan Obligations	11,191,664	11,062,501
Weighted Average Remaining Maturity In Years	8 years 10 months 17 days	9 years 7 days
Weighted average interest rate (as a percent)	2.67%	2.62%
Subordinated notes / preferred shares | Collateralized loan obligation
DEBT
Borrowing Outstanding	1,506,610	1,523,670
Market Value of Loan Obligations	873,437	894,795
Weighted Average Remaining Maturity In Years	9 years 3 months 4 days	9 years 5 months 9 days
Notes payable | Collateralized loan obligation
DEBT
Borrowing Outstanding	12,866,693	12,918,490
Market Value of Loan Obligations	12,065,101	11,957,296
Line of credit | Revolving credit line | Collateralized loan obligation
DEBT
Market Value of Loan Obligations	89,576	91,874
Loan Obligations	90,286	92,623
Line of credit | Revolving credit line | Revolving credit line with maturity 04/16/21 | Collateralized loan obligation
DEBT
Market Value of Loan Obligations		43,980
Total Facility (Capacity)		44,113
Loan Obligations		44,113
Effective rate (as a percent)		0.49%
Commitment Fee (as a percent)		0.17%
Line of credit | Revolving credit line | Revolving credit line with maturity 07/16/20 | Collateralized loan obligation
DEBT
Market Value of Loan Obligations	42,676
Total Facility (Capacity)	42,806
Loan Obligations	42,806
Effective rate (as a percent)	0.51%
Commitment Fee (as a percent)	0.17%
Line of credit | Revolving credit line | Revolving credit line with maturity 10/11/21 | Collateralized loan obligation
DEBT
Market Value of Loan Obligations	46,900	47,894
Total Facility (Capacity)	47,480	48,510
Loan Obligations	$47,480	$48,510
Effective rate (as a percent)	0.45%	0.43%
Commitment Fee (as a percent)	0.17%	0.17%

DEBT_Details_3

DEBT (Details 3) (Consolidated Funds, USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
DEBT
Long term borrowings, Outstanding Loan	$683,564	$771,283
Outstanding Loan	683,564	771,283
Line of credit | Revolving credit line | Credit facility with maturity 01/01/23
DEBT
Total Facility (Capacity)	18,000
Long term borrowings, Outstanding Loan	4,459
Line of credit | Revolving credit line | Credit facility with maturity 01/01/23 | LIBOR
DEBT
Effective rate spread (as a percent)	1.81%
Line of credit | Revolving credit line | Credit facility with maturity 06/04/18
DEBT
Total Facility (Capacity)	150,000	150,000
Long term borrowings, Outstanding Loan	48,500	39,300
Commitment Fee (as a percent)	0.25%	0.25%
Line of credit | Revolving credit line | Credit facility with maturity 06/04/18 | LIBOR
DEBT
Effective rate basis	LIBOR	LIBOR
Effective rate spread (as a percent)	2.25%	2.25%
Term note | Notes payable, four
DEBT
Total Facility (Capacity)	1,500,000
Long term borrowings, Outstanding Loan	630,605
Commitment Fee (as a percent)	0.75%
Term note | Notes payable, four | LIBOR
DEBT
Effective rate basis	LIBOR
Effective rate spread (as a percent)	1.65%
Term note | Notes payable, five
DEBT
Total Facility (Capacity)		1,500,000
Long term borrowings, Outstanding Loan		731,983
Commitment Fee (as a percent)		0.75%
Term note | Notes payable, five | LIBOR
DEBT
Effective rate basis		LIBOR
Effective rate spread (as a percent)		1.65%
Line of credit | Revolving credit line | Credit facility with maturity 06/06/15
DEBT
Total Facility (Capacity)	25,000	25,000
Commitment Fee (as a percent)	0.30%	0.30%
Line of credit | Revolving credit line | Credit facility with maturity 06/06/15 | LIBOR
DEBT
Effective rate basis	LIBOR	LIBOR
Effective rate spread (as a percent)	1.75%	1.75%
Line of credit | Revolving credit line | Credit facility with maturity 06/30/15
DEBT
Total Facility (Capacity)	$25,000	$25,000
Commitment Fee (as a percent)	0.30%	0.30%
Line of credit | Revolving credit line | Credit facility with maturity 06/30/15 | LIBOR
DEBT
Effective rate basis	LIBOR	LIBOR
Effective rate spread (as a percent)	2.00%	2.00%

DEBT_Details_4

DEBT (Details 4) (Consolidated Funds, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
DEBT
Outstanding loan obligations	406,371	$378,365
Mezzanine debt
DEBT
Outstanding loan obligations	406,400	$378,400
Mezzanine debt | Minimum
DEBT
Term of prior written notice to cause holders to redeem notes	5 days
Term of prior written notice for withdrawal of note	30 days

REDEEMABLE_INTERESTS_Details

REDEEMABLE INTERESTS (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
AOG
Redeemable interests
Beginning balance	$23,988
Reallocation of Partners' capital for changes in ownership interests	81
Deferred tax liabilities arising from allocation of contributions and Partners' capital	-1
Distributions	-260
Net income (loss) attributable to redeemable, non-controlling interests	243
Currency translation adjustment	-7
Equity compensation	33
Ending balance	24,077
Consolidated Funds
Redeemable interests
Beginning balance	1,037,450
Contributions from redeemable, non-controlling interests	122
Distributions to redeemable, non-controlling interests	-138,414
Net income (loss) attributable to redeemable, non-controlling interests	15,859
Ending balance	$915,017

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	3 Months Ended	12 Months Ended	0 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Jul. 30, 2014
COMMITMENTS AND CONTINGENCIES
Unfunded commitments	$258,300,000	$187,900,000
Revolving credit line | ACRE
COMMITMENTS AND CONTINGENCIES
Fair value of guarantee included within accounts payable, accrued expenses and other liabilities	1,600,000
Outstanding Loan	75,000,000	75,000,000
Revolving credit line | ACRE | Maximum
COMMITMENTS AND CONTINGENCIES
Maximum exposure to loss			75,000,000
Revolving credit line | City National Bank | ACRE
COMMITMENTS AND CONTINGENCIES
Fund borrowings			75,000,000
Percentage of outstanding balance at which entity agreed to purchase all loans and other obligations outstanding			100.00%
Percentage of credit support fee receivable annually			1.50%
Affiliated Co-investment Entities
COMMITMENTS AND CONTINGENCIES
Guaranteed loans payable balance	2,700,000	3,200,000
Additional unfunded commitments	1,000,000	1,100,000
AREA | Accounts payable and accrued expenses
COMMITMENTS AND CONTINGENCIES
Unfunded commitments	4,800,000	5,600,000
Performance Fees
COMMITMENTS AND CONTINGENCIES
Assumed investments value for clawback obligation	0	0
Performance fees subject to potential clawback provision	306,300,000	295,700,000
Performance fees subject to potential claw back provision that are reimbursable by professionals	$244,300,000	$239,300,000

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Parent Company
Due from affiliates:
Due from affiliates	$129,870	$146,534
Due to affiliates:
Due to affiliates	7,426	19,030
Parent Company | Affiliated entity
Due from affiliates:
Management fees receivable from non consolidated funds	98,775	113,358
Payments made on behalf of and amounts due from non consolidated funds	31,095	33,176
Due to affiliates:
Management fee rebate payable to non consolidated funds	6,048	14,390
Payments made by non consolidated funds on behalf of and amounts due from the Company	1,378	4,640
Consolidated Funds
Due from affiliates:
Due from affiliates	9,338	11,342
Due to affiliates:
Due to affiliates	2,332	2,441
Consolidated Funds | Affiliated entity
Due from affiliates:
Due from affiliates	9,338	11,342
Due to affiliates:
Due to affiliates	$2,332	$2,441

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Income taxes
Income tax expense (benefit)	$5,892	($6,695)

EARNINGS_PER_COMMON_UNIT_Detai

EARNINGS PER COMMON UNIT (Details)	3 Months Ended
	Mar. 31, 2015
AOG
Earnings per common unit
Antidilutive securities excluded from calculation of earnings per common unit (in units)	132,437,609
Partners Capital Account Units Conversion Ratio	100.00%
Restricted unit
Earnings per common unit
Antidilutive securities excluded from calculation of earnings per common unit (in units)	834,288
Stock Options
Earnings per common unit
Antidilutive securities excluded from calculation of earnings per common unit (in units)	25,022,983

EARNINGS_PER_COMMON_UNIT_Detai1

EARNINGS PER COMMON UNIT (Details 2) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015
Basic
Net income attributable to Ares Management L.P.	$18,456
Earnings distributed to participating securities (restricted stock)	-237
Net income available to common unitholders	18,219
Basic weighted-average common units	80,667,664
Earnings per common unit, basic (in dollars per unit)	$0.23
Diluted
Net income attributable to Ares Management L.P.	18,456
Earnings distributed to participating securities (restricted stock)	-237
Net income available to common unitholders	$18,219
Basic weighted-average common units	80,667,664
Diluted weighted-average common units	80,667,664
Earnings per common unit, diluted (in dollars per unit)	$0.23

EQUITY_COMPENSATION_Details

EQUITY COMPENSATION (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Jan. 01, 2015	1-May-14
Equity compensation
Grant date fair value (in dollars)	$211,679
Equity Compensation Expenses Recognized, Net of Forfeitures (in dollars)		5,339
Total number of units available for grant under the Equity Incentive Plan	30,840,965		31,728,949	31,704,545
AEP I Profit Interests
Equity compensation
Grant date fair value (in dollars)	38,400
AEP II Profit Interests
Equity compensation
Grant date fair value (in dollars)	33,423
Equity Compensation Expenses Recognized, Net of Forfeitures (in dollars)		1,504
AEP IV Profit Interests
Equity compensation
Grant date fair value (in dollars)	10,657
AEP VI Profit Interests
Equity compensation
Grant date fair value (in dollars)	9,047
Exchanged AEP Awards
Equity compensation
Grant date fair value (in dollars)	68,607
Indicus Membership Interest
Equity compensation
Grant date fair value (in dollars)	20,700
Equity Compensation Expenses Recognized, Net of Forfeitures (in dollars)		1,036
Indicus Profit Interest
Equity compensation
Grant date fair value (in dollars)	5,464
Equity Compensation Expenses Recognized, Net of Forfeitures (in dollars)		456
AREA Membership Interest
Equity compensation
Grant date fair value (in dollars)	25,381
Equity Compensation Expenses Recognized, Net of Forfeitures (in dollars)		$2,343

EQUITY_COMPENSATION_Details_2

EQUITY COMPENSATION (Details 2) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2014	Mar. 31, 2015	Mar. 16, 2015	1-May-14
Equity compensation
Equity compensation expenses	$5,339,000
Compensation and benefits
Equity compensation
Equity compensation expenses		7,921,000
Restricted unit
Equity compensation
Equity compensation expenses		3,445,000
Discount for lack of marketability percentage		5.00%
Quarterly distribution declared (in dollars per unit)			$0.24
Distribution equivalents made to holders		1,100,000
Distribution equivalents made to holders recorded in equity compensation in the Consolidated Statements of Changes in Equity		900,000
Restricted Units and Phantom Units
Balance at the beginning of the period (in units)		4,776,053
Restricted stock granted (in units)		171,444
Forfeited (in units)		-75,920
Balance at the end of the period (in units)		4,871,577
Vested (in units)		0
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per unit)		$18.08
Granted (in dollars per unit)		$17.27
Forfeited (in dollars per unit)		$18.05
Balance at the end of the period (in dollars per unit)		$18.06
Assumed forfeiture (as a percent)		7.00%
Unrecognized Compensation Expenses (in dollars)		56,800,000
Weighted average period of compensation expense expected to be recognized		4 years 1 month 6 days
Vesting period		5 years
Restricted unit | Compensation and benefits
Equity compensation
Distribution equivalents made to holders		200,000
Restricted unit | IPO
Restricted Units and Phantom Units
Restricted stock granted (in units)				4,936,051
Restricted unit | Awards vested beginning on the third anniversary of the date the initial public offering became effective
Equity compensation
Vesting rights (as a percent)		33.00%
Stock Options
Equity compensation
Equity compensation expenses		3,853,000
Vesting rights (as a percent)		33.30%
Weighted Average Grant Date Fair Value
Assumed forfeiture (as a percent)		7.00%
Unrecognized Compensation Expenses (in dollars)		63,400,000
Weighted average period of compensation expense expected to be recognized		4 years 29 days
Phantom units
Equity compensation
Equity compensation expenses		623,000
Restricted Units and Phantom Units
Balance at the beginning of the period (in units)		610,711
Forfeited (in units)		-16,538
Balance at the end of the period (in units)		594,173
Vested (in units)		0
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per unit)		$19
Forfeited (in dollars per unit)		$19
Balance at the end of the period (in dollars per unit)		$19
Unrecognized Compensation Expenses (in dollars)		9,000,000
Weighted average period of compensation expense expected to be recognized		4 years 29 days
Number of trading days immediately prior to vesting dates which gives right to the holder to receive amount in cash per unit		15 days
Number of trading days immediately following the vesting dates which gives right to the holder to receive amount in cash per unit		15 days
Vesting period		5 years
Cash paid to settle awards (in dollars)		$0
Fair value of awards (in dollars per share)		$18.54
Phantom units | IPO
Restricted Units and Phantom Units
Restricted stock granted (in units)				686,395
Restricted units and options
Weighted Average Grant Date Fair Value
Percentage of awards that will vest if participant's employment is terminated between the first and second year after grant		11.00%
Percentage of awards that will vest if participant's employment is terminated between the second and third year after grant		22.00%

EQUITY_COMPENSATION_Details_3

EQUITY COMPENSATION (Details 3) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	1-May-14
Equity compensation
Deferred tax assets related to equity based awards	$3,500,000
Stock Options
Equity compensation
Number of common units which holder is entitle to purchase	1
Term of option	P10Y
Vesting rights (as a percent)	33.30%
Unrecognized Compensation Expenses (in dollars)	63,400,000
Assumed forfeiture (as a percent)	7.00%
Weighted average remaining period of compensation expense expected to be recognized	4 years 29 days
Options
Balance at the beginning of the period (in units)	24,230,518
Granted (in units)	935,135
Forfeited (in units)	-142,675
Balance at the end of the period (in units)	25,022,978
Expected to vest at the end of the period (in units)	19,333,428
Weighted Average Exercise Price
Balance at the beginning of the period (in dollars per unit)	$19
Granted (in dollars per unit)	$18.82
Forfeited (in dollars per unit)	$19
Balance at the end of the period (in dollars per unit)	$18.99
Expected to vest at the end of the period (in dollars per unit)	$18.99
Weighted Average Remaining Life
Balance at the beginning of the period	9 years 1 month 10 days
Granted	9 years 9 months 29 days
Balance at the end of the period	9 years 1 month 10 days
Expected to vest at the end of the period	9 years 1 month 10 days
Aggregate Intrinsic Value
Balance at the end of the period (in dollars)	$0
Stock Options | IPO
Options
Granted (in units)		24,835,227
Stock Options | Black-Scholes option pricing model
Weighted average assumptions used to measure the fair value of each options granted using Black-Scholes option-pricing model
Weighted average expected dividend yield (as a percent)	5.00%
Stock Options | Minimum | Black-Scholes option pricing model
Weighted average assumptions used to measure the fair value of each options granted using Black-Scholes option-pricing model
Risk free rate (as a percent)	1.71%
Expected volatility factor (as a percent)	35.00%
Expected life	6 years 7 months 28 days
Stock Options | Maximum | Black-Scholes option pricing model
Weighted average assumptions used to measure the fair value of each options granted using Black-Scholes option-pricing model
Risk free rate (as a percent)	1.80%
Expected volatility factor (as a percent)	36.00%
Expected life	7 years 5 months 27 days

EQUITY_Details

EQUITY (Details)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Jul. 01, 2015	Dec. 31, 2014	Jan. 01, 2015
STOCKHOLDERS' EQUITY AND MEMBERS' CAPITAL
Units issued (in units)	80,667,664		80,667,664
Ares Owners Holdings, L.P. direct ownership percentage of each of the Ares Operating Group Entities	56.28%
Number of Partnership Units Ares Owners Holdings LP Holds of Each Ares Operating Group Entities	119,937,609
Affiliate of Allehany Corporation Direct Ownership Percentage of Each Ares Operating Group Entities	5.87%
Number of Ares Operating Group Units an Affiliate of Alleghany Corporation Holds of Each Ares Operating Group Entities	12,500,000
Daily average ownership percentage Ares Owners Holdings LP owned of each of the Ares Operating Group entities	56.28%
Daily average ownership percentage Affiliate of Alleghany Corporation owned of each of the Ares Operating Group entities	5.87%
Daily average ownership percentage Ares Management LP owned of each of the Ares Operating Group entities	37.85%
EIF Management, LLC
STOCKHOLDERS' EQUITY AND MEMBERS' CAPITAL
Units conversion ratio	100.00%
Period after close of transaction for exchange	6 months
EIF Management, LLC | Maximum
STOCKHOLDERS' EQUITY AND MEMBERS' CAPITAL
Percentage of units exchangeable	50.00%	50.00%
AH LLC | APMC
STOCKHOLDERS' EQUITY AND MEMBERS' CAPITAL
Controlling ownership interest (as a percent)	50.10%
AI | APMC
STOCKHOLDERS' EQUITY AND MEMBERS' CAPITAL
Controlling ownership interest (as a percent)	70.30%
AOG
STOCKHOLDERS' EQUITY AND MEMBERS' CAPITAL
Controlling ownership interest (as a percent)	37.85%
Units issued (in units)	80,667,664
Units conversion ratio	100.00%
Maximum ratio for exchange of units	4
AOG | EIF Management, LLC
STOCKHOLDERS' EQUITY AND MEMBERS' CAPITAL
Units issued (in units)				1,578,947

SEGMENT_REPORTING_Details

SEGMENT REPORTING (Details) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Jan. 01, 2015	Dec. 31, 2014
	item		item
Segment reporting
Number of investment groups operated	4
Management fees
Net investment income (loss)	$463,699,000	$325,177,000
Economic net income	406,565,000	274,675,000
Total assets	21,618,156,000	22,035,501,000		21,632,675,000
EIF Management, LLC
Segment reporting
Assets under management			4,400,000,000
Number of commingled funds			4
Number of related co-investment vehicles			4
Affiliated entity | ARCC
Management fees
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	29,042,000	28,318,000
Ares Management L.P and Consolidated Funds | Private Equity Group
Segment reporting
Assets under management	14,800,000,000
Number of growth fund	1
Number of funds focused on U.S. energy and power assets	4
Number of co-investment vehicles focused on U.S. energy and power assets	4
Number of commingled funds	4
Ares Management L.P and Consolidated Funds | Private Equity Group | EIF Management, LLC
Segment reporting
Assets under management			4,400,000,000
Number of commingled funds			4
Number of related co-investment vehicles			4
Ares Management L.P and Consolidated Funds | Direct Lending Group
Segment reporting
Assets under management	28,700,000,000
Number of investment funds	34
Ares Management L.P and Consolidated Funds | Direct Lending Group | Affiliated entity | ARCC
Management fees
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	29,042,000	28,318,000
Ares Management L.P and Consolidated Funds | Tradable Credit Group
Segment reporting
Assets under management	33,400,000,000
Number of investment funds	75
Ares Management L.P and Consolidated Funds | Real Estate Group
Segment reporting
Assets under management	10,000,000,000
Number of investment funds	42
Loans Receivable, Gross, Commercial, Mortgage	5,600,000,000
Ares Management L.P and Consolidated Funds | Operating segment
Management fees
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	162,316,000	139,861,000
Administrative fees and other income	967,000	1,473,000
Compensation and benefits	-65,017,000	-62,697,000
General, administrative and other expenses	-12,788,000	-11,877,000
Fee related earnings	85,477,000	66,760,000
Performance fees-realized	35,639,000	23,338,000
Performance fees-unrealized	68,449,000	40,092,000
Performance fee compensation-realized	-21,344,000	-16,007,000
Performance fee compensation-unrealized	-55,048,000	-24,718,000
Net performance fees	27,697,000	22,705,000
Investment income (loss)-realized	12,922,000	19,282,000
Investment income (loss)-unrealized	-4,615,000	2,952,000
Interest and other investment income	2,988,000	3,145,000
Interest expense	-3,684,000	-1,639,000
Net investment income (loss)	7,611,000	23,740,000
Performance related earnings	35,308,000	46,445,000
Economic net income	120,785,000	113,205,000
Distributable earnings (loss)	106,175,000	92,059,000
Total assets	1,728,380,000	1,396,419,000
Ares Management L.P and Consolidated Funds | Operating segment | Private Equity Group
Management fees
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	36,589,000	23,196,000
Administrative fees and other income	13,000	76,000
Compensation and benefits	-12,321,000	-8,195,000
General, administrative and other expenses	-3,118,000	-2,000,000
Fee related earnings	21,163,000	13,077,000
Performance fees-realized	425,000	13,086,000
Performance fees-unrealized	87,331,000	21,341,000
Performance fee compensation-realized	-340,000	-10,472,000
Performance fee compensation-unrealized	-69,981,000	-16,912,000
Net performance fees	17,435,000	7,043,000
Investment income (loss)-realized	4,172,000	1,131,000
Investment income (loss)-unrealized	-1,442,000	15,156,000
Interest and other investment income	4,485,000	2,785,000
Interest expense	-1,680,000	-623,000
Net investment income (loss)	5,535,000	18,449,000
Performance related earnings	22,970,000	25,492,000
Economic net income	44,133,000	38,569,000
Distributable earnings (loss)	27,086,000	18,698,000
Total assets	862,147,000	477,710,000
Ares Management L.P and Consolidated Funds | Operating segment | Direct Lending Group
Management fees
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	70,739,000	66,204,000
Administrative fees and other income	77,000	90,000
Compensation and benefits	-33,676,000	-32,212,000
General, administrative and other expenses	-3,294,000	-1,914,000
Fee related earnings	33,846,000	32,168,000
Performance fees-realized	1,889,000	39,000
Performance fees-unrealized	8,491,000	2,292,000
Performance fee compensation-realized	-1,133,000	-29,000
Performance fee compensation-unrealized	-5,023,000	-1,451,000
Net performance fees	4,224,000	851,000
Investment income (loss)-realized	1,396,000	-597,000
Investment income (loss)-unrealized	-1,843,000	1,524,000
Interest and other investment income	213,000	98,000
Interest expense	-526,000	-304,000
Net investment income (loss)	-760,000	721,000
Performance related earnings	3,464,000	1,572,000
Economic net income	37,310,000	33,740,000
Distributable earnings (loss)	34,581,000	31,158,000
Total assets	248,342,000	195,543,000
Ares Management L.P and Consolidated Funds | Operating segment | Tradable Credit Group
Management fees
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	37,609,000	33,693,000
Administrative fees and other income	21,000	17,000
Compensation and benefits	-8,889,000	-10,805,000
General, administrative and other expenses	-3,831,000	-3,696,000
Fee related earnings	24,910,000	19,209,000
Performance fees-realized	33,325,000	10,213,000
Performance fees-unrealized	-27,692,000	13,509,000
Performance fee compensation-realized	-19,871,000	-5,506,000
Performance fee compensation-unrealized	19,554,000	-6,355,000
Net performance fees	5,316,000	11,861,000
Investment income (loss)-realized	7,222,000	18,018,000
Investment income (loss)-unrealized	-1,526,000	-12,866,000
Interest and other investment income	-1,739,000	251,000
Interest expense	-1,208,000	-387,000
Net investment income (loss)	2,749,000	5,016,000
Performance related earnings	8,065,000	16,877,000
Economic net income	32,975,000	36,086,000
Distributable earnings (loss)	41,126,000	40,704,000
Total assets	451,176,000	555,851,000
Ares Management L.P and Consolidated Funds | Operating segment | Real Estate Group
Management fees
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	17,378,000	16,768,000
Administrative fees and other income	856,000	1,290,000
Compensation and benefits	-10,131,000	-11,485,000
General, administrative and other expenses	-2,545,000	-4,267,000
Fee related earnings	5,558,000	2,306,000
Performance fees-unrealized	319,000	2,950,000
Performance fee compensation-unrealized	403,000
Net performance fees	722,000	2,950,000
Investment income (loss)-realized	132,000	730,000
Investment income (loss)-unrealized	196,000	-862,000
Interest and other investment income	29,000	11,000
Interest expense	-270,000	-325,000
Net investment income (loss)	87,000	-446,000
Performance related earnings	809,000	2,504,000
Economic net income	6,367,000	4,810,000
Distributable earnings (loss)	3,382,000	1,499,000
Total assets	166,715,000	167,315,000
Ares Management L.P and Consolidated Funds | OMG
Segment reporting
Number of independent shared resource groups to support entity's operating segments	5
Management fees
Administrative fees and other income	6,385,000	5,392,000
Compensation and benefits	-28,914,000	-27,657,000
General, administrative and other expenses	-15,326,000	-13,535,000
Fee related earnings	-37,855,000	-35,800,000
Economic net income	-37,855,000	-35,800,000
Distributable earnings (loss)	-38,880,000	-37,512,000
Total assets	16,941,000	10,437,000
Ares Management L.P and Consolidated Funds | Stand Alone
Management fees
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	162,316,000	139,861,000
Administrative fees and other income	7,350,000	6,865,000
Compensation and benefits	-93,931,000	-90,354,000
General, administrative and other expenses	-28,114,000	-25,412,000
Fee related earnings	47,622,000	30,960,000
Performance fees-realized	35,639,000	23,338,000
Performance fees-unrealized	68,449,000	40,092,000
Performance fee compensation-realized	-21,344,000	-16,007,000
Performance fee compensation-unrealized	-55,048,000	-24,718,000
Net performance fees	27,697,000	22,705,000
Investment income (loss)-realized	12,922,000	19,282,000
Investment income (loss)-unrealized	-4,615,000	2,952,000
Interest and other investment income	2,988,000	3,145,000
Interest expense	-3,684,000	-1,639,000
Net investment income (loss)	7,611,000	23,740,000
Performance related earnings	35,308,000	46,445,000
Economic net income	82,930,000	77,405,000
Distributable earnings (loss)	67,295,000	54,547,000
Total assets	$1,745,321,000	$1,406,856,000

SEGMENT_REPORTING_Details_2

SEGMENT REPORTING (Details 2) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Reconcile segment results to the Company's income before taxes and total assets
Revenues	$181,728	$133,628	$133,628
Expenses	238,862	184,130	184,130
Other income (expense)	463,699	325,177
Economic net income / Income before taxes	406,565	274,675
Total assets	21,618,156	22,035,501	21,632,675
Ares Management L.P and Consolidated Funds | Operating segment
Reconcile segment results to the Company's income before taxes and total assets
Revenues	267,370	204,764
Expenses	154,196	115,299
Other income (expense)	7,611	23,740
Economic net income / Income before taxes	120,785	113,205
Total assets	1,728,380	1,396,419
Ares Management L.P and Consolidated Funds | Reconciling items
Reconcile segment results to the Company's income before taxes and total assets
Revenues	-85,642	-71,136
Expenses	84,666	68,831
Other income (expense)	456,088	301,437
Economic net income / Income before taxes	285,780	161,470
Total assets	$19,889,776	$20,639,082

SEGMENT_REPORTING_Details_3

SEGMENT REPORTING (Details 3) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Segment revenues
Total revenues	$181,728	$133,628	$133,628
Segment expenses
Total expenses	238,862	184,130	184,130
Segment other income
Net investment income	463,699	325,177
Ares Management L.P and Consolidated Funds | Operating segment
Segment revenues
Management fees	162,316	139,861
Administrative fees and other income	967	1,473
Performance fees-realized	35,639	23,338
Performance fees-unrealized	68,449	40,092
Total revenues	267,370	204,764
Segment expenses
Compensation and benefits	65,017	62,697
General, administrative and other expenses	12,788	11,877
Performance fee compensation expense-realized	21,344	16,007
Performance fee compensation expense-unrealized	55,048	24,718
Total expenses	154,196	115,299
Segment other income
Investment income (loss)-realized	12,922	19,282
Investment income (loss)-unrealized	-4,615	2,952
Interest, dividends and other investment income	2,988	3,145
Interest expense	-3,684	-1,639
Net investment income	$7,611	$23,740

SEGMENT_REPORTING_Details_4

SEGMENT REPORTING (Details 4) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Revenue adjustment
Revenues	$181,728	$133,628	$133,628
Ares Management L.P and Consolidated Funds | Reconciling items
Revenue adjustment
Revenues	-85,642	-71,136
Ares Management L.P and Consolidated Funds | Reconciling items | AREA Sponsor Holdings, LLC
Revenue adjustment
Performance fees - Unrealized reclass	-990	-2,950
Ares Management L.P and Consolidated Funds | OMG
Revenue adjustment
Administrative fees and other income	6,385	5,392
Consolidated Funds | Eliminations
Revenue adjustment
Revenues	($91,036)	($73,578)

SEGMENT_REPORTING_Details_5

SEGMENT REPORTING (Details 5) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Expenses adjustment
Equity compensation expense		$5,339
Income tax expense (benefit)	5,892		-6,695
Amortization of intangibles	10,900	8,800
Total expenses	238,862	184,130	184,130
Ares Management L.P and Consolidated Funds | Reconciling items
Expenses adjustment
Acquisition-related expenses	2,224	1,421
Equity compensation expense	7,921	5,339
Placement fees and underwriting costs	3,045	1,052
Amortization of intangibles	10,892	8,831
Depreciation expense	1,273	2,059
Total expenses	84,666	68,831
Ares Management L.P and Consolidated Funds | OMG
Expenses adjustment
Total expenses	44,240	41,192
Consolidated Funds | Reconciling items
Expenses adjustment
Consolidated Fund expenses added in consolidation	48,571	40,637
Consolidated Fund expenses eliminated in consolidation	($33,499)	($31,700)

SEGMENT_REPORTING_Details_6

SEGMENT REPORTING (Details 6) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Other income adjustment
Net investment income	$463,699	$325,177
Ares Management L.P and Consolidated Funds | Reconciling items
Other income adjustment
Net investment income	456,088	301,437
Consolidated Funds | Reconciling items
Other income adjustment
Consolidated Funds other income added in consolidation, net	461,059	321,117
Other income from Consolidated Funds eliminated in consolidation, net	-5,951	-22,630
Other non-cash items	-10
Consolidated Funds | Reconciling items | AREA Sponsor Holdings, LLC
Other income adjustment
Performance fee reclass	$990	$2,950

SEGMENT_REPORTING_Details_7

SEGMENT REPORTING (Details 7) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Economic net income
Income before taxes	$406,565	$274,675	$274,675
Adjustments
Amortization of intangibles	10,900	8,800
Equity compensation expenses		5,339
Income tax expense (benefit)	5,892		-6,695
Economic net income	406,565	274,675
Ares Management L.P and Consolidated Funds | Operating segment
Adjustments
Amortization of intangibles	10,892	8,831
Depreciation expense	1,273	2,059
Equity compensation expenses	7,921	5,339
Income tax expense (benefit)	476
Acquisition-related expenses	2,224	1,421
Placement fees and underwriting costs	3,045	1,052
OMG expenses, net	-85,477	-66,760
Other non-cash items	10
Economic net income	120,785	113,205
Ares Management L.P and Consolidated Funds | OMG
Adjustments
OMG expenses, net	37,855	35,800
Economic net income	-37,855	-35,800
Ares Management L.P and Consolidated Funds | Reconciling items
Adjustments
Amortization of intangibles	10,892	8,831
Depreciation expense	1,273	2,059
Equity compensation expenses	7,921	5,339
Acquisition-related expenses	2,224	1,421
Placement fees and underwriting costs	3,045	1,052
Economic net income	285,780	161,470
Consolidated Funds
Adjustments
Income (loss) before taxes of non-controlling interests in Consolidated Funds	-331,309		-188,133
Consolidated Funds | Operating segment
Adjustments
Income (loss) before taxes of non-controlling interests in Consolidated Funds	-349,001	-215,972
Consolidated Funds | Reconciling items
Adjustments
Other non-cash items	-10
Economic net income	($285,780)	($161,470)

SEGMENT_REPORTING_Details_8

SEGMENT REPORTING (Details 8) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Fee related earnings
Income before taxes	$406,565	$274,675	$274,675
Adjustments
Amortization of intangibles	10,900	8,800
Equity compensation expenses		5,339
Economic net income	406,565	274,675
Net investment income	-463,699	-325,177
Ares Management L.P and Consolidated Funds | Operating segment
Adjustments
Amortization of intangibles	10,892	8,831
Depreciation expense	1,273	2,059
Equity compensation expenses	7,921	5,339
Acquisition-related expenses	2,224	1,421
Placement fees and underwriting costs	3,045	1,052
Other non-cash items	10
Economic net income	120,785	113,205
Total performance fee income - realized	-35,639	-23,338
Total performance fee income - unrealized	-68,449	-40,092
Total performance fee compensation - realized	21,344	16,007
Total performance fee compensation - unrealized	55,048	24,718
Net investment income	-7,611	-23,740
Management fees	162,316	139,861
Administrative fees and other income	967	1,473
Compensation and benefits	-65,017	-62,697
General, administrative and other expenses	-12,788	-11,877
Fee related earnings	85,477	66,760
Ares Management L.P and Consolidated Funds | Reconciling items
Adjustments
Amortization of intangibles	10,892	8,831
Depreciation expense	1,273	2,059
Equity compensation expenses	7,921	5,339
Acquisition-related expenses	2,224	1,421
Placement fees and underwriting costs	3,045	1,052
Economic net income	285,780	161,470
Net investment income	-456,088	-301,437
Ares Management L.P and Consolidated Funds | OMG
Adjustments
Economic net income	-37,855	-35,800
Administrative fees and other income	6,385	5,392
Compensation and benefits	-28,914	-27,657
General, administrative and other expenses	-15,326	-13,535
Fee related earnings	-37,855	-35,800
Consolidated Funds
Adjustments
Income (loss) before taxes of non-controlling interests in Consolidated Funds	-331,309		-188,133
Consolidated Funds | Operating segment
Adjustments
Income (loss) before taxes of non-controlling interests in Consolidated Funds	-349,001	-215,972
Consolidated Funds | Reconciling items
Adjustments
Other non-cash items	-10
Economic net income	($285,780)	($161,470)

SEGMENT_REPORTING_Details_9

SEGMENT REPORTING (Details 9) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Performance related earnings:
Income before taxes	$406,565	$274,675	$274,675
Adjustments
Amortization of intangibles	10,900	8,800
Equity compensation expenses		5,339
Economic net income	406,565	274,675
Net investment income (loss)	463,699	325,177
Ares Management L.P and Consolidated Funds | Operating segment
Adjustments
Amortization of intangibles	10,892	8,831
Depreciation expense	1,273	2,059
Equity compensation expenses	7,921	5,339
Acquisition-related expenses	2,224	1,421
Placement fees and underwriting costs	3,045	1,052
OMG expenses, net	-85,477	-66,760
Other non-cash items	10
Economic net income	120,785	113,205
Total management fees	-162,316	-139,861
Administrative fees and other income	-967	-1,473
Compensation and benefits	65,017	62,697
General, administrative and other expenses	12,788	11,877
Total performance fees - realized	35,639	23,338
Total performance fee - unrealized	68,449	40,092
Total performance fee compensation - realized	-21,344	-16,007
Total performance fee compensation - unrealized	-55,048	-24,718
Net investment income (loss)	7,611	23,740
Performance related earnings	35,308	46,445
Ares Management L.P and Consolidated Funds | OMG
Adjustments
OMG expenses, net	37,855	35,800
Economic net income	-37,855	-35,800
Administrative fees and other income	-6,385	-5,392
Compensation and benefits	28,914	27,657
General, administrative and other expenses	15,326	13,535
Consolidated Funds
Adjustments
Income (loss) before taxes of non-controlling interests in Consolidated Funds	-331,309		-188,133
Consolidated Funds | Operating segment
Adjustments
Income (loss) before taxes of non-controlling interests in Consolidated Funds	($349,001)	($215,972)

SEGMENT_REPORTING_Details_10

SEGMENT REPORTING (Details 10) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Distributable earnings
Income before taxes	$406,565	$274,675	$274,675
Adjustments
Amortization of intangibles	10,900	8,800
Equity compensation expenses		5,339
Less:
Income tax expense	-5,892		6,695
Parent Company
Adjustments
Investment and other income realized, net	-330
Less:
Non-cash depreciation and amortization	-12,618
Ares Management L.P and Consolidated Funds
Adjustments
Dividend equivalent	-912
Less:
Dividend equivalent	-912
Ares Management L.P and Consolidated Funds | Operating segment
Adjustments
Amortization of intangibles	10,892	8,831
Equity compensation expenses	7,921	5,339
Non-cash acquisition related expenses	1,251
Taxes paid	-479
Dividend equivalent	-684
Other non-cash items	-156
Unrealized performance fee expense	-68,449	-40,092
Unrealized performance fee compensation	55,048	24,718
Unrealized investment and other income (loss)	4,615	-2,952
Distributable earnings	-106,175	-92,059
Fee related earnings	85,477	66,760
Performance fees-realized	35,639	23,338
Performance fee compensation-realized	-21,344	-16,007
Investment and other income realized, net	12,226	20,788
Net performance related earnings-realized	26,521	28,119
Less:
Dividend equivalent	-684
One-time acquisition costs	-724
Income tax expense	-476
Non-cash items	-156
Placement fees and underwriting costs	-3,045	-1,052
Non-cash depreciation and amortization	-739	-1,768
Distributable Earnings	106,175	92,059
Ares Management L.P and Consolidated Funds | OMG
Adjustments
Distributable earnings	38,880	37,512
Fee related earnings	-37,855	-35,800
Less:
Distributable Earnings	-38,880	-37,512
Consolidated Funds
Adjustments
Income (loss) before taxes of non-controlling interests in Consolidated Funds	-331,309		-188,133
Consolidated Funds | Operating segment
Adjustments
Income (loss) before taxes of non-controlling interests in Consolidated Funds	($349,001)	($215,972)

SEGMENT_REPORTING_Details_11

SEGMENT REPORTING (Details 11) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
In Thousands, unless otherwise specified
Reconciliation of total segment assets to total assets
Total assets	$21,618,156	$21,632,675	$22,035,501
Ares Management L.P and Consolidated Funds | Reconciling items
Reconciliation of total segment assets to total assets
Total assets	19,889,776		20,639,082
Ares Management L.P and Consolidated Funds | OMG
Reconciliation of total segment assets to total assets
Total assets	16,941		10,437
Consolidated Funds | Reconciling items
Reconciliation of total segment assets to total assets
Total assets from Consolidated Funds added in consolidation	20,722,470		21,420,284
Total assets from Consolidated Funds eliminated in consolidation	($849,635)		($791,639)

CONSOLIDATING_SCHEDULES_Detail

CONSOLIDATING SCHEDULES (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Assets
Goodwill	$144,080	$85,582
Total assets	21,618,156	21,632,675	22,035,501
Liabilities
Total liabilities	14,815,137	14,873,302
Commitments and contingencies
Controlling interest in Ares Management L.P.:
Partners' Capital (80,667,664 units, issued and outstanding)	291,641	285,025
Accumulated other comprehensive gain (loss)	-2,126	-1,386
Total controlling interest in Ares Management L.P	289,515	283,639
Total equity	5,863,925	5,697,935
Total liabilities, redeemable interest, non-controlling interests and equity	21,618,156	21,632,675
Units issued (in units)	80,667,664	80,667,664
Units outstanding (in units)	80,667,664	80,667,664
Predecessor
Controlling interest in Ares Management L.P.:
Total controlling interest in Ares Management L.P	289,515	283,639
Eliminations.
Assets
Total assets	-849,635	-806,765
Liabilities
Total liabilities	-135,274	-135,082
Controlling interest in Ares Management L.P.:
Accumulated other comprehensive gain (loss)	4,550	2,760
Total controlling interest in Ares Management L.P	4,550	2,760
Total equity	-714,360	-671,683
Total liabilities, redeemable interest, non-controlling interests and equity	-849,635	-806,765
Consolidated Company Entities | Eliminations.
Assets
Investments	-408,245	-424,022
Performance fees receivable	-418,515	-361,039
Due from affiliates	-20,596	-19,691
Other assets	-45	-93
Liabilities
Accounts payable and accrued expenses	-668	-602
Due to affiliates	-1,030	-851
Performance fee compensation payable	-887	-896
Consolidated Company Entities | Reportable legal entity
Assets
Cash and cash equivalents	69,372	148,858
Restricted cash and cash equivalents		32,734
Investments	606,875	598,074
Derivative assets, at fair value	8,217	7,623
Performance fees receivable	590,308	548,098
Due from affiliates	150,466	166,225
Other assets	55,735	58,809
Intangible assets, net	120,268	40,948
Goodwill	144,080	85,582
Total assets	1,745,321	1,686,951
Liabilities
Accounts payable and accrued expenses	127,053	101,912
Accrued compensation	55,307	129,433
Derivative liabilities, at fair value	2,973	2,850
Due to affiliates	8,456	19,881
Performance fee compensation payable	421,074	381,164
Debt obligations	298,614	243,491
Equity compensation put option liability	20,000	20,000
Deferred tax liability, net	21,026	19,861
Total liabilities	954,503	918,592
Controlling interest in Ares Management L.P.:
Partners' Capital (80,667,664 units, issued and outstanding)	291,641	285,025
Accumulated other comprehensive gain (loss)	-6,676	-4,146
Total equity	766,740	744,372
Total liabilities, redeemable interest, non-controlling interests and equity	1,745,321	1,686,951
Consolidated Company Entities | Reportable legal entity | Predecessor
Controlling interest in Ares Management L.P.:
Total controlling interest in Ares Management L.P	284,965	280,879
Parent Company
Assets
Cash and cash equivalents	69,372	148,858
Restricted cash and cash equivalents		32,734
Investments	198,630	174,052
Derivative assets, at fair value	8,217	7,623
Performance fees receivable	171,793	187,059
Due from affiliates	129,870	146,534
Other assets	55,690	58,716
Intangible assets, net	120,268	40,948
Goodwill	144,080	85,582
Liabilities
Accounts payable and accrued expenses	126,385	101,310
Accrued compensation	55,307	129,433
Derivative liabilities, at fair value	2,973	2,850
Due to affiliates	7,426	19,030
Performance fee compensation payable	420,187	380,268
Debt obligations	298,614	243,491
Equity compensation put option liability	20,000	20,000
Deferred tax liability, net	21,026	19,861
Controlling interest in Ares Management L.P.:
Total equity	5,863,925	5,697,935
Parent Company | Predecessor
Assets
Cash and cash equivalents			36,634	89,802
Consolidated Funds
Assets
Cash and cash equivalents	1,318,017	1,314,397
Investments	18,990,943	19,123,950
Derivative assets, at fair value	3,696	3,126
Loans held for investment, net	85,214	77,514
Due from affiliates	9,338	11,342
Other assets	6,329	6,156
Dividends and interest receivable	71,761	81,331
Receivable for securities sold	234,938	132,753
Liabilities
Accounts payable and accrued expenses	54,064	68,589
Derivative liabilities, at fair value	59,483	42,332
Due to affiliates	2,332	2,441
Payable for securities purchased	475,380	618,902
Securities sold short, at fair value	3,763	3,763
Equity appropriated for Consolidated Funds	55,996	-37,926
Deferred tax liability, net	23,585	22,214
CLO loan obligations	12,154,677	12,049,170
Fund borrowings	683,564	771,283
Mezzanine debt	406,371	378,365
Redeemable interest	915,017	1,037,450
Non-controlling interest in Consolidated Funds:
Non-controlling interest in Consolidated Funds	5,036,639	4,988,729
Non-controlling interest	5,092,635	4,950,803
Consolidated Funds | Eliminations.
Assets
Due from affiliates	-2,234	-1,920
Liabilities
Accounts payable and accrued expenses	-273	-85
Due to affiliates	-64,213	-60,976
CLO loan obligations	-68,203	-71,672
Non-controlling interest in Consolidated Funds:
Non-controlling interest in Consolidated Funds	-718,910	-674,443
Non-controlling interest	-718,910	-674,443
Consolidated Funds | Reportable legal entity
Assets
Cash and cash equivalents	1,318,017	1,314,397
Investments	18,990,943	19,123,950
Derivative assets, at fair value	3,696	3,126
Loans held for investment, net	85,214	77,514
Due from affiliates	11,572	13,262
Other assets	6,329	6,156
Dividends and interest receivable	71,761	81,331
Receivable for securities sold	234,938	132,753
Total assets	20,722,470	20,752,489
Liabilities
Accounts payable and accrued expenses	54,337	68,674
Derivative liabilities, at fair value	59,483	42,332
Due to affiliates	66,545	63,417
Payable for securities purchased	475,380	618,902
Securities sold short, at fair value	3,763	3,763
Equity appropriated for Consolidated Funds	55,996	-37,926
Deferred tax liability, net	23,585	22,214
CLO loan obligations	12,222,880	12,120,842
Fund borrowings	683,564	771,283
Mezzanine debt	406,371	378,365
Total liabilities	13,995,908	14,089,792
Redeemable interest	915,017	1,037,450
Non-controlling interest in Consolidated Funds:
Non-controlling interest in Consolidated Funds	5,755,549	5,663,172
Non-controlling interest	5,811,545	5,625,246
Controlling interest in Ares Management L.P.:
Total equity	5,811,545	5,625,246
Total liabilities, redeemable interest, non-controlling interests and equity	20,722,470	20,752,489
AOG
Liabilities
Redeemable interest	24,077	23,988
Non-controlling interest in Consolidated Funds:
Non-controlling interest	481,775	463,493
AOG | Reportable legal entity
Liabilities
Redeemable interest	24,077	23,988
Non-controlling interest in Consolidated Funds:
Non-controlling interest	$481,775	$463,493

CONSOLIDATING_SCHEDULES_Detail1

CONSOLIDATING SCHEDULES (Details 2) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Revenues
Total revenues	$181,728	$133,628	$133,628
Expenses
Total expenses	238,862	184,130	184,130
Other income (expense)
Total other income (expense)	463,699		325,177
Income before taxes	406,565	274,675	274,675
Income tax expense (benefit)	5,892		-6,695
Net income	400,673		281,370
Net income attributable to Ares Management, L.P.	18,456
Predecessor
Revenues
Total revenues		133,628
Expenses
Total expenses		184,130
Other income (expense)
Total other income (expense)		325,177
Income before taxes		274,675
Income tax expense (benefit)		-6,695
Net income		281,370
Less: Net income attributable to non-controlling interests			42,847
Net income attributable to Ares Management, L.P.		42,847
Affiliated entity | ARCC
Revenues
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	29,042	28,318
Eliminations.
Revenues
Total revenues	-91,036		-73,578
Expenses
Total expenses	-33,499		-31,700
Other income (expense)
Total other income (expense)	-5,951		-22,630
Income before taxes	-63,488		-64,508
Net income	-63,488		-64,508
Reportable legal entity | Predecessor
Other income (expense)
Less: Net income attributable to non-controlling interests			42,847
Consolidated Company Entities | Eliminations.
Revenues
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	-26,927		-29,312
Performance fees	-63,038		-44,266
Other fees	-1,071
Other income (expense)
Interest and other investment income	-5,691		-3,359
Other income (expense), net	2,724
Net realized gain (loss) on investments	-6,158		-19,347
Net change in unrealized appreciation (depreciation) on investments	7,102		-1,419
Consolidated Company Entities | Reportable legal entity
Revenues
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	162,316		139,861
Performance fees	103,098		60,480
Other fees	7,350		6,865
Total revenues	272,764		207,206
Expenses
Compensation and benefits	101,851		95,693
Performance fee compensation	76,392		40,725
General, administrative and other expense	45,547		38,775
Total expenses	223,790		175,193
Other income (expense)
Interest and other investment income	6,033		3,483
Interest expense	-3,684		-1,639
Other income (expense), net	-3,054
Net realized gain (loss) on investments	12,922		19,281
Net change in unrealized appreciation (depreciation) on investments	-3,626		5,565
Total other income (expense)	8,591		26,690
Income before taxes	57,565		58,703
Income tax expense (benefit)	4,059		2,514
Net income	53,506		56,189
Net income attributable to Ares Management, L.P.	18,456
Parent Company
Revenues
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)	135,389		110,549
Performance fees	40,060		16,214
Other fees	6,279		6,865
Expenses
Compensation and benefits	101,851		95,693
Performance fee compensation	76,392		40,725
General, administrative and other expense	45,547		38,775
Other income (expense)
Interest and other investment income	342		124
Interest expense	-3,684		-1,639
Other income (expense), net	-330
Net realized gain (loss) on investments	6,764		-66
Net change in unrealized appreciation (depreciation) on investments	3,476		4,146
Parent Company | Predecessor
Revenues
Management fees (includes ARCC Part I Fees of $29,042 and $28,318 for the three months ended March 31, 2015 and 2014, respectively)		110,549
Performance fees		16,214
Other fees		6,865
Expenses
Compensation and benefits		95,693
Performance fee compensation		40,725
General, administrative and other expense		38,775
Other income (expense)
Interest and other investment income		124
Interest expense		-1,639
Net realized gain (loss) on investments		-66
Net change in unrealized appreciation (depreciation) on investments		4,146
Consolidated Funds
Expenses
Consolidated Fund expenses	15,072		8,937
Other income (expense)
Interest and other investment income	338,186		345,345
Interest expense	-118,711		-145,042
Net realized gain (loss) on investments	-61,436		54,965
Net change in unrealized appreciation (depreciation) on investments	299,092		67,344
Less: Net income attributable to redeemable interests	15,859		37,048
Less: Net income attributable to non-controlling interests	331,309		188,133
Consolidated Funds | Predecessor
Expenses
Consolidated Fund expenses		8,937
Other income (expense)
Interest and other investment income		345,345
Interest expense		-145,042
Net realized gain (loss) on investments		54,965
Net change in unrealized appreciation (depreciation) on investments		67,344
Less: Net income attributable to redeemable interests		37,048
Less: Net income attributable to non-controlling interests		188,133
Consolidated Funds | Eliminations.
Expenses
Consolidated Fund expenses	-33,499		-31,700
Other income (expense)
Interest and other investment income	-190		-131
Interest expense	3,923		695
Net change in unrealized appreciation (depreciation) on investments	-7,661		931
Less: Net income attributable to redeemable interests	-2,360		-4,970
Less: Net income attributable to non-controlling interests	-61,128		-59,538
Consolidated Funds | Reportable legal entity
Expenses
Consolidated Fund expenses	48,571		40,637
Total expenses	48,571		40,637
Other income (expense)
Interest and other investment income	338,376		345,476
Interest expense	-122,634		-145,737
Net realized gain (loss) on investments	-61,436		54,965
Net change in unrealized appreciation (depreciation) on investments	306,753		66,413
Total other income (expense)	461,059		321,117
Income before taxes	412,488		280,480
Income tax expense (benefit)	1,833		-9,209
Net income	410,655		289,689
Less: Net income attributable to redeemable interests	18,219		42,018
Less: Net income attributable to non-controlling interests	392,437		247,671
AOG
Other income (expense)
Less: Net income attributable to redeemable interests	243		406
Less: Net income attributable to non-controlling interests	34,806		12,936
AOG | Predecessor
Other income (expense)
Less: Net income attributable to redeemable interests		406
Less: Net income attributable to non-controlling interests		12,936
AOG | Reportable legal entity
Other income (expense)
Less: Net income attributable to redeemable interests	243		406
Less: Net income attributable to non-controlling interests	$34,806		$12,936

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	3 Months Ended	0 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	1-May-15
Business Combination Consideration Transferred
Equity (1,578,947 Ares Operating Group units)	$25,468
Subsequent event
Subsequent events
Quarterly distribution declared (in dollars per unit)		$0.25