KKR Financial 10-K 31 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Mar. 23, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	KKR Financial Holdings LLC
Entity Central Index Key	1386926
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$0
Entity Common Stock, Shares Outstanding		100
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Successor Company
Assets
Cash and cash equivalents	$163,405	$210,413
Restricted cash and cash equivalents	447,507
Securities, at estimated fair value	638,605
Corporate loans, net (includes $6,506,564 measured at estimated fair value as of December 31, 2014 and $237,480 measured at estimated fair value and $279,748 loans held for sale as of December 31, 2013)	6,506,564
Equity investments, at estimated fair value ($61,543 and zero pledged as collateral as of December 31, 2014 and December 31, 2013, respectively)	181,378
Oil and gas properties, net	120,274
Interests in joint ventures and partnerships, at estimated fair value	718,772
Derivative assets	33,566
Interest and principal receivable	54,598
Other assets	86,956
Total assets	8,951,625
Liabilities
Senior notes	414,524
Junior subordinated notes	246,907
Accounts payable, accrued expenses and other liabilities	221,114
Accrued interest payable	19,402
Related party payable	5,404
Derivative liabilities	55,127
Total liabilities	6,463,577
Equity
Preferred shares, no par value, 50,000,000 shares authorized and 14,950,000 issued and outstanding as of both December 31, 2014 and December 31, 2013	0
Common shares, no par value, 500,000,000 shares authorized, and 100 shares and 204,824,159 shares issued and outstanding as of December 31, 2014 and December 31, 2013, respectively	0
Paid-in-capital	2,764,061
Accumulated deficit	-376,182
Total KKR Financial Holdings LLC and Subsidiaries shareholders' equity	2,387,879
Noncontrolling interests	100,169
Total equity	2,488,048	2,572,085
Total liabilities and equity	8,951,625
Successor Company | Collaterized loan obligation secured notes
Liabilities
Collateralized loan obligation secured notes (includes $5,501,099 and zero measured at estimated fair value as of December 31, 2014 and December 31, 2013, respectively)	5,501,099
Predecessor Company
Assets
Cash and cash equivalents		210,413	157,167	237,606	392,154
Restricted cash and cash equivalents			350,385
Securities, at estimated fair value			573,312
Corporate loans, net (includes $6,506,564 measured at estimated fair value as of December 31, 2014 and $237,480 measured at estimated fair value and $279,748 loans held for sale as of December 31, 2013)			237,480
Corporate loans, net (includes $6,506,564 measured at estimated fair value as of December 31, 2014 and $237,480 measured at estimated fair value and $279,748 loans held for sale as of December 31, 2013)			6,466,720
Equity investments, at estimated fair value ($61,543 and zero pledged as collateral as of December 31, 2014 and December 31, 2013, respectively)			181,212
Oil and gas properties, net			400,369
Interests in joint ventures and partnerships, at estimated fair value			436,241
Derivative assets			30,224
Interest and principal receivable			33,570
Other assets			87,998
Total assets			8,717,198
Liabilities
Collateralized loan obligation secured notes (includes $5,501,099 and zero measured at estimated fair value as of December 31, 2014 and December 31, 2013, respectively)			5,249,383
Credit facilities			125,289
Senior notes			362,276
Junior subordinated notes			283,517
Accounts payable, accrued expenses and other liabilities			58,215
Accrued interest payable			23,575
Related party payable			5,574
Derivative liabilities			81,635
Total liabilities			6,189,464
Equity
Preferred shares, no par value, 50,000,000 shares authorized and 14,950,000 issued and outstanding as of both December 31, 2014 and December 31, 2013			0
Common shares, no par value, 500,000,000 shares authorized, and 100 shares and 204,824,159 shares issued and outstanding as of December 31, 2014 and December 31, 2013, respectively			0
Paid-in-capital			3,315,117
Accumulated other comprehensive loss		-26,347	-15,652	-70,226	-35,619
Accumulated deficit			-771,731
Total KKR Financial Holdings LLC and Subsidiaries shareholders' equity			2,527,734
Total equity		2,572,085	2,527,734	1,839,122	1,675,832
Total liabilities and equity			$8,717,198

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Successor Company
Corporate loans, estimated fair value (in dollars)	$6,506,564
Equity investments, at estimated fair value, pledged as collateral (in dollars)	61,543
Collateralized loan obligation secured notes, estimated fair value (in dollars)	5,501,099
Preferred shares, no par value (in dollars per share)
Preferred shares, shares authorized	50,000,000
Preferred shares, shares issued	14,950,000
Preferred shares, shares outstanding	14,950,000
Common shares, no par value (in dollars per share)
Common shares, shares authorized	500,000,000
Common shares, shares issued	100
Common shares, shares outstanding	100
Predecessor Company
Corporate loans, estimated fair value (in dollars)		237,480
Corporate loans, held for sale (in dollars)		279,748
Equity investments, at estimated fair value, pledged as collateral (in dollars)		0
Collateralized loan obligation secured notes, estimated fair value (in dollars)		$0
Preferred shares, no par value (in dollars per share)
Preferred shares, shares authorized		50,000,000
Preferred shares, shares issued		14,950,000
Preferred shares, shares outstanding		14,950,000
Common shares, no par value (in dollars per share)
Common shares, shares authorized		500,000,000
Common shares, shares issued		204,824,159
Common shares, shares outstanding		204,824,159

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	8 Months Ended	4 Months Ended	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor Company
Revenues
Loan interest income	$212,431
Securities interest income	32,016
Oil and gas revenue	57,616
Other	48,282
Total revenues	350,345
Investment costs and expenses
Interest expense	144,437
Oil and gas production costs	15,229
Oil and gas depreciation, depletion and amortization	19,458
Other	2,012
Total investment costs and expenses	181,136
Other income (loss)
Net realized and unrealized gain (loss) on investments	-349,372
Net realized and unrealized gain (loss) on derivatives and foreign exchange	-18,507
Net realized and unrealized gain (loss) on debt	16,478
Other income	7,019
Total other income (loss)	-344,382
Other expenses
Related party management compensation	33,764
General, administrative and directors' expenses	6,498
Professional services	3,310
Total other expenses	43,572
Income (loss) before income taxes	-218,745
Income tax expense (benefit)	484
Net income (loss)	-219,229
Net income (loss) attributable to noncontrolling interests	-5,956
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries	-213,273
Preferred share distributions	20,673
Net income (loss) available to common shares	-233,946
Predecessor Company
Revenues
Loan interest income		114,096	360,287	411,736
Securities interest income		13,081	49,518	76,642
Oil and gas revenue		61,782	119,178	64,535
Other		28,283	16,923	2,560
Total revenues		217,242	545,906	555,473
Investment costs and expenses
Interest expense		64,362	163,216	165,022
Provision for loan losses			32,812	46,498
Oil and gas production costs		14,772	35,814	28,980
Oil and gas depreciation, depletion and amortization		22,471	44,061	21,931
Other		220	2,859	4,358
Total investment costs and expenses		101,825	305,705	318,375
Other income (loss)
Net realized and unrealized gain (loss) on investments		61,553	157,074	193,056
Net realized and unrealized gain (loss) on derivatives and foreign exchange		-9,783	-6,838	-2,091
Net gain (loss) on restructuring and extinguishment of debt			-20,015	-445
Other income		4,564	20,704	15,302
Total other income (loss)		56,334	150,925	205,822
Other expenses
Related party management compensation		29,841	68,576	72,339
General, administrative and directors' expenses		8,891	19,524	19,157
Professional services		26,877	9,329	6,661
Total other expenses		65,609	97,429	98,157
Income (loss) before income taxes		106,142	293,697	344,763
Income tax expense (benefit)		162	467	-3,467
Net income (loss)		105,980	293,230	348,230
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries		105,980	293,230	348,230
Preferred share distributions		6,891	27,411
Net income (loss) available to common shares		99,089	265,819	348,230
Net income (loss) per common share:
Basic (in dollars per share)		$0.48	$1.31	$1.95
Diluted (in dollars per share)		$0.48	$1.31	$1.87
Weighted-average number of common shares outstanding:
Basic (in shares)		204,276	202,411	177,838
Diluted (in shares)		204,276	202,411	187,423
Distributions declared per common share (in dollars per share)		$0.22	$0.90	$0.86
Predecessor Company | Affiliates
Investment costs and expenses
Interest expense			$26,943	$51,586

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Income (USD $)	8 Months Ended	4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor Company
Net income (loss)	($219,229)
Other comprehensive income (loss):
Comprehensive income (loss)	-219,229
Comprehensive income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries	-219,229
Predecessor Company
Net income (loss)		105,980	293,230	348,230
Other comprehensive income (loss):
Unrealized gains (losses) on securities available-for-sale		-5,253	6,095	-44,776
Unrealized gains (losses) on cash flow hedges		-5,442	48,479	10,169
Total other comprehensive income (loss)		-10,695	54,574	-34,607
Comprehensive income (loss)		95,285	347,804	313,623
Comprehensive income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries		$95,285	$347,804	$313,623

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Shareholders' Equity (USD $)	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company
In Thousands, except Share data, unless otherwise specified	Preferred Shares	Preferred Shares Paid-In Capital	Common Shares	Common Shares Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	Noncontrolling interests	USD ($)	Preferred Shares	Preferred Shares Paid-In Capital	Common Shares	Common Shares Paid-In Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit	USD ($)
		USD ($)		USD ($)	USD ($)	USD ($)	USD ($)			USD ($)		USD ($)	USD ($)	USD ($)
Balance at Dec. 31, 2011												$2,759,478	($35,619)	($1,048,027)	$1,675,832
Balance (in shares) at Dec. 31, 2011											178,145,482
Increase (Decrease) in Shareholders' Equity
Net income (loss)														348,230	348,230
Other comprehensive income (loss)													-34,607		-34,607
Distributions declared on common shares														-153,439	-153,439
Grant of restricted common shares (in shares)											301,860
Repurchase and cancellation of common shares												-96			-96
Repurchase and cancellation of common shares (in shares)											-10,264
Share-based compensation expense related to restricted common shares												3,202			3,202
Balance at Dec. 31, 2012												2,762,584	-70,226	-853,236	1,839,122
Balance (in shares) at Dec. 31, 2012											178,437,078
Increase (Decrease) in Shareholders' Equity
Net income (loss)														293,230	293,230
Other comprehensive income (loss)													54,574		54,574
Distributions declared on preferred shares														-27,411	-27,411
Distributions declared on common shares														-184,314	-184,314
Issuance of shares												321			321
Issuance of shares (in shares)											30,000
Issuance of preferred stock										361,622					361,622
Issuance of preferred stock									14,950,000
Grant of restricted common shares (in shares)											331,297
Repurchase and cancellation of common shares												-223			-223
Repurchase and cancellation of common shares (in shares)											-25,204
Issuance of common shares in exchange for convertible notes												186,254			186,254
Issuance of common shares in exchange for convertible notes (in shares)											26,050,988
Share-based compensation expense related to restricted common shares												4,559			4,559
Balance at Dec. 31, 2013										361,622		2,953,495	-15,652	-771,731	2,527,734
Balance (in shares) at Dec. 31, 2013									14,950,000		204,824,159
Increase (Decrease) in Shareholders' Equity
Net income (loss)															108,183
Balance at Mar. 31, 2014
Balance at Dec. 31, 2013												2,953,495	-15,652	-771,731	2,527,734
Increase (Decrease) in Shareholders' Equity
Net income (loss)														105,980	105,980
Other comprehensive income (loss)													-10,695		-10,695
Distributions declared on preferred shares														-6,891	-6,891
Distributions declared on common shares														-45,061	-45,061
Share-based compensation expense related to restricted common shares												1,018			1,018
Balance at Apr. 30, 2014										361,622		2,954,513	-26,347	-717,703	2,572,085
Balance (in shares) at Apr. 30, 2014	14,950,000		204,824,159						14,950,000		204,824,159
Balance at Mar. 31, 2014
Increase (Decrease) in Shareholders' Equity
Net income (loss)															-2,203
Balance at Apr. 30, 2014		361,622		2,954,513	-26,347	-717,703		2,572,085		361,622					2,572,085
Balance (in shares) at Apr. 30, 2014	14,950,000		204,824,159						14,950,000		204,824,159
Increase (Decrease) in Shareholders' Equity
Purchase accounting adjustments		17,361		-570,040	26,347	717,703		191,371
Balance (in shares) at May. 01, 2014	14,950,000
Balance at Apr. 30, 2014								2,572,085		361,622
Balance (in shares) at Apr. 30, 2014	14,950,000		204,824,159						14,950,000		204,824,159
Increase (Decrease) in Shareholders' Equity
Net income (loss)								45,144
Balance at Jun. 30, 2014
Balance at Apr. 30, 2014								2,572,085		361,622
Balance (in shares) at Apr. 30, 2014	14,950,000		204,824,159						14,950,000		204,824,159
Increase (Decrease) in Shareholders' Equity
Net income (loss)								-219,229
Balance at Dec. 31, 2014		378,983						2,488,048
Balance (in shares) at Dec. 31, 2014	14,950,000
Balance at May. 01, 2014				2,384,473				2,763,456
Balance (in shares) at May. 01, 2014	14,950,000		204,824,159
Increase (Decrease) in Shareholders' Equity
Reverse stock split (in shares)			-204,824,059
Contribution of assets of previously unconsolidated entities							106,125	106,125
Net income (loss)						-213,273	-5,956	-219,229
Distributions declared on preferred shares						-20,673		-20,673
Distributions to Parent						-617,080		-617,080
Contributions from Parent						474,844		474,844
Capital contributions from Parent				605				605
Balance at Dec. 31, 2014		378,983		2,385,078		-376,182	100,169	2,488,048
Balance (in shares) at Dec. 31, 2014	14,950,000		100
Balance at Sep. 30, 2014
Increase (Decrease) in Shareholders' Equity
Net income (loss)								-187,172
Balance at Dec. 31, 2014		$378,983						$2,488,048
Balance (in shares) at Dec. 31, 2014	14,950,000

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	8 Months Ended	4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor Company
Cash flows from operating activities
Net income (loss)	($219,229)
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized and unrealized (gain) loss on derivatives and foreign exchange	18,507
Unrealized appreciation on investments allocable to noncontrolling interests	5,956
Net realized and unrealized (gain) loss on investments	343,416
Depreciation and net amortization	21,391
Net realized and unrealized (gain) loss on debt	-16,478
Changes in assets and liabilities:
Interest receivable	-11,485
Other assets	-21,117
Related party payable	5,724
Accounts payable, accrued expenses and other liabilities	-20,561
Accrued interest payable	1,769
Net cash provided by (used in) operating activities	107,893
Cash flows from investing activities
Principal payments from corporate loans	634,536
Principal payments from securities	60,056
Proceeds from sales of corporate loans	575,099
Proceeds from sales of securities	38,342
Proceeds from equity and other investments	89,697
Purchases of corporate loans	-1,245,460
Purchases of securities	-95,881
Purchases of equity and other investments	-158,618
Net change in proceeds, purchases, and settlements of derivatives	-7,295
Net change in restricted cash and cash equivalents	202,355
Net cash provided by (used in) investing activities	92,831
Cash flows from financing activities
Issuance of collateralized loan obligation secured notes	885,983
Retirement of collateralized loan obligation secured notes	-1,045,041
Proceeds from credit facilities	115,100
Repayment of credit facilities	-95,000
Distributions on common shares	-121,088
Distributions on preferred shares	-13,782
Distributions to Parent	-203,568
Contributions from Parent	235,759
Capital contributions noncontrolling interests	1,110
Capital contributions from Parent	605
Other capitalized costs	-7,810
Net cash (used in) provided by financing activities	-247,732
Net increase (decrease) in cash and cash equivalents	-47,008
Cash and cash equivalents at beginning of period	210,413
Cash and cash equivalents at end of period	163,405
Supplemental cash flow information
Cash paid for interest	114,939
Net cash paid (refunded) for income taxes	93
Non-cash investing and financing activities
Assets distributed To Parent	-292,425
Assets contributed from Parent	239,085
Assets contributed from noncontrolling interests	105,015
Natural resources assets transferred out	-114,546
Interest in Trinity transferred in	114,546
Preferred share distribution payable	6,891
Predecessor Company
Cash flows from operating activities
Net income (loss)		105,980	293,230	348,230
Adjustments to reconcile net income to net cash provided by operating activities:
Net realized and unrealized (gain) loss on derivatives and foreign exchange		9,783	6,838	2,091
Net (gain) loss on restructuring and extinguishment of debt			20,015	445
Write-off of debt issuance costs		1,472	6,674	4,224
Lower of cost or estimated fair value adjustment on corporate loans held for sale		-5,038	5,899	2,656
Provision for loan losses			32,812	46,498
Impairment charges		4,391	19,512	12,067
Share-based compensation		1,018	4,559	3,202
Net realized and unrealized (gain) loss on investments		-60,906	-182,485	-207,779
Depreciation and net amortization		15,832	7,123	-51,982
Changes in assets and liabilities:
Interest receivable		-6,753	3,333	11,415
Other assets		-19,668	-37,660	5,329
Related party payable		-1,815	-4,144	-80
Accounts payable, accrued expenses and other liabilities		27,211	-13,674	1,304
Preferred share distribution payable			-6,891
Accrued interest payable		-1,470	3,056	-5,017
Net cash provided by (used in) operating activities		70,037	151,565	172,674
Cash flows from investing activities
Principal payments from corporate loans		906,166	1,437,139	1,829,492
Principal payments from securities		21,223	169,646	92,920
Proceeds from sales of corporate loans		36,595	270,204	349,279
Proceeds from sales of securities		44,373	39,431	505,015
Proceeds from equity and other investments		48,911	155,132	113,365
Purchases of corporate loans		-886,230	-2,099,033	-1,595,317
Purchases of securities		-78,106	-228,131	-135,354
Purchases of equity and other investments		-104,301	-513,933	-376,831
Net change in proceeds, purchases, and settlements of derivatives		-7,265	-3,110	-6,401
Net change in restricted cash and cash equivalents		-299,579	546,011	-496,776
Net cash provided by (used in) investing activities		-318,213	-226,644	279,392
Cash flows from financing activities
Issuance of collateralized loan obligation secured notes		648,197	665,188	489,480
Retirement of collateralized loan obligation secured notes		-221,914	-839,625	-979,667
Proceeds from credit facilities		13,300	79,200	69,489
Repayment of credit facilities		-75,400	-61,700
Repayment of convertible senior notes				-135,531
Net proceeds from senior notes				111,418
Net proceeds from issuance of preferred shares			361,622
Distributions on common shares		-45,061	-184,314	-153,439
Distributions on preferred shares		-13,782	-20,520
Repurchase and cancellation of common shares				-96
Other capitalized costs		-3,918	-5,211	-8,268
Net cash (used in) provided by financing activities		301,422	-5,360	-606,614
Net increase (decrease) in cash and cash equivalents		53,246	-80,439	-154,548
Cash and cash equivalents at beginning of period		157,167	237,606	392,154
Cash and cash equivalents at end of period		210,413	157,167	237,606
Supplemental cash flow information
Cash paid for interest		53,576	155,184	186,131
Net cash paid (refunded) for income taxes		157	7,685	-274
Non-cash investing and financing activities
Loans transferred from held for investment to held for sale		348,808	323,416	114,995
Loans transferred from held for sale to held for investment				114,871
Conversion of convertible senior notes to common shares			186,254
Issuance of restricted common shares			3,282	2,849
Predecessor Company | Affiliates
Changes in assets and liabilities:
Accrued interest payable			($6,632)	$71

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Cash Flows (Parenthetical) (Predecessor Company, USD $)	4 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014
Distributions on preferred shares incorrectly presented as preferred share distribution payable
Supplemental cash flow information
Preferred share distribution payable	$6,900

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2014
ORGANIZATION
ORGANIZATION	NOTE 1. ORGANIZATION
	KKR Financial Holdings LLC together with its subsidiaries (the "Company" or "KFN") is a specialty finance company with expertise in a range of asset classes. The Company's core business strategy is to leverage the proprietary resources of KKR Financial Advisors LLC (the "Manager") with the objective of generating current income. The Company's holdings primarily consist of below investment grade syndicated corporate loans, also known as leveraged loans, high yield debt securities, interests in joint ventures and partnerships, and royalty interests in oil and gas properties. The corporate loans that the Company holds are typically purchased via assignment or participation in the primary or secondary market.
	The majority of the Company's holdings consist of corporate loans and high yield debt securities held in collateralized loan obligation ("CLO") transactions that are structured as on-balance sheet securitizations and are used as long term financing for the Company's investments in corporate debt. The senior secured debt issued by the CLO transactions is generally owned by unaffiliated third party investors and the Company owns the majority of the subordinated notes in the CLO transactions. The Company executes its core business strategy through its majority-owned subsidiaries, including CLOs.
	The Manager, a wholly-owned subsidiary of KKR Asset Management LLC, manages the Company pursuant to an amended and restated management agreement, as amended (the "Management Agreement"). Effective as of September 30, 2014, KKR Asset Management LLC changed its name to KKR Credit Advisors (US) LLC. KKR Credit Advisors (US) LLC is a wholly-owned subsidiary of Kohlberg Kravis Roberts & Co. L.P. ("KKR"), which is a subsidiary of KKR & Co. L.P. ("KKR & Co.").
	On April 30, 2014, the Company became a subsidiary of KKR & Co., whereby KKR & Co. acquired all of the Company's outstanding common shares through an exchange of equity through which the Company's shareholders received 0.51 common units representing the limited partnership interests of KKR & Co. for each common share of KFN (the "Merger Transaction"). Following the Merger Transaction, KKR Fund Holdings L.P. ("KKR Fund Holdings"), a subsidiary of KKR & Co., became the sole holder of all of the outstanding common shares of the Company and is the parent of the Company (the "Parent").
	As of the close of trading on April 30, 2014, the Company's common shares were delisted on the New York Stock Exchange ("NYSE"). The Company's 7.375% Series A LLC Preferred Shares ("Series A LLC Preferred Shares"), senior notes and junior subordinated notes remain outstanding and the Company continues to file periodic reports under the Securities Exchange Act of 1934, as amended. Refer to Note 3 to these consolidated financial statements for further details around the Merger Transaction.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). The consolidated financial statements include the accounts of the Company and entities established to complete secured financing transactions that are considered to be variable interest entities ("VIEs") and for which the Company is the primary beneficiary. Also included in the consolidated financial statements are the financial results of certain entities, which are not considered VIEs, but in which the Company is presumed to have control. The ownership interests held by third parties are reflected as noncontrolling interests in the accompanying financial statements.
	As further described in Note 3 to these consolidated financial statements, the Merger Transaction was accounted for using the acquisition method of accounting, which required that the assets purchased and the liabilities assumed all be reported in the acquirer's financial statements at their fair value, with any excess of net assets over the purchase price being reported as a bargain purchase gain. The application of the acquisition method of accounting represented a push down of accounting basis to the Company, whereby it was also required to record the assets and liabilities at fair value as of the date of the Merger Transaction. This change in accounting basis resulted in the termination of the prior reporting entity and a corresponding creation of a new reporting entity.
	Accordingly, the Company's consolidated financial statements and transactional records prior to the effective date, or May 1, 2014 (the "Effective Date"), reflect the historical accounting basis of assets and liabilities and are labeled "Predecessor Company," while such records subsequent to the Effective Date are labeled "Successor Company" and reflect the push down basis of accounting for the new estimated fair values in the Company's consolidated financial statements. This change in accounting basis is represented in the consolidated financial statements by a vertical black line which appears between the columns entitled "Predecessor Company" and "Successor Company" on the statements and in the relevant notes. The black line signifies that the amounts shown for the periods prior to and subsequent to the Merger Transaction are not comparable.
	In addition to the new accounting basis established for assets and liabilities, purchase accounting also required the reclassification of any retained earnings or accumulated deficit from periods prior to the acquisition and the elimination of any accumulated other comprehensive income or loss to be recognized within the Company's shareholders' equity section of the Company's consolidated financial statements. Accordingly, the Company's accumulated deficit at December 31, 2014 represents only the results of operations subsequent to April 30, 2014, the date of the Merger Transaction.
	For the following assets not carried at fair value, as presented under the Predecessor Company, the Company adopted the fair value option of accounting as of the Effective Date: (i) corporate loans held for investment at amortized cost, net of an allowance for loan losses, (ii) corporate loans held for sale at lower of cost or estimated fair value and (iii) certain other investments at cost. In addition, the Company elected the fair value option of accounting for its collateralized loan obligation secured notes. As such, the accounting policies followed by the Company in the preparation of its consolidated financial statements for the Successor period present all financial assets and CLO secured notes at estimated fair value. The Company's adoption of fair value accounting was for the primary purpose of reporting values that more closely aligned with KKR & Co.'s method of accounting.
	Unrealized gains and losses for the financial assets and liabilities carried at estimated fair value are reported in net realized and unrealized gain (loss) on investments and net realized and unrealized gain (loss) on debt, respectively, in the consolidated statements of operations. Unrealized gains or losses primarily reflect the change in instrument values, including the reversal of previously recorded unrealized gains or losses when gains or losses are realized. Realized gains or losses are measured by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the asset without regard to unrealized gains or losses previously recognized. For the Successor period, upon the sale of a corporate loan or debt security, the net realized gain or loss is computed using the specific identification method. Comparatively, for the Predecessor period, the realized net gain or loss was computed on a weighted average cost basis.
	In addition, for the Successor period, all purchases and sales of assets are recorded on the trade date. Comparatively, for the Predecessor periods, corporate loans were recorded on the settlement date.
	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions 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. The Company uses historical experience and various other assumptions and information that are believed to be reasonable under the circumstances in developing its estimates and judgments. Estimates and assumptions about future events and their effects cannot be predicted with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company's operating environment changes. While the Company believes that the estimates and assumptions used in the preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates.
	Consolidation
	KKR Financial CLO 2005-1, Ltd. ("CLO 2005-1"), KKR Financial CLO 2005-2, Ltd. ("CLO 2005-2"), KKR Financial CLO 2006-1, Ltd. ("CLO 2006-1"), KKR Financial CLO 2007-1, Ltd. ("CLO 2007-1"), KKR Financial CLO 2007-A, Ltd. ("CLO 2007-A"), KKR Financial CLO 2011-1, Ltd. ("CLO 2011-1"), KKR Financial CLO 2012-1, Ltd. ("CLO 2012-1"), KKR Financial CLO 2013-1, Ltd. ("CLO 2013-1"), KKR Financial CLO 2013-2, Ltd. ("CLO 2013-2"), KKR CLO 9, Ltd. ("CLO 9") and KKR CLO 10, Ltd. ("CLO 10") (collectively the "Cash Flow CLOs") are entities established to complete secured financing transactions. These entities are VIEs which the Company consolidates as the Company has determined it has the power to direct the activities that most significantly impact these entities' economic performance and the Company has both the obligation to absorb losses of these entities and the right to receive benefits from these entities that could potentially be significant to these entities. In CLO transactions, subordinated notes have the first risk of loss and conversely, the residual value upside of the transactions.
	The Company finances the majority of its corporate debt investments through its CLOs. As of December 31, 2014, the Company's CLOs held $6.9 billion par amount, or $6.5 billion estimated fair value, of corporate debt investments. As of December 31, 2013, the Company's CLOs held $6.7 billion par amount, or $6.4 billion estimated fair value, of corporate debt investments. The assets in each CLO can be used only to settle the debt of the related CLO. As of December 31, 2014 and 2013, the aggregate par amount of CLO debt totaled $5.6 billion and $5.3 billion, respectively, held by unaffiliated third parties.
	The Company consolidates all non-VIEs in which it holds a greater than 50 percent voting interest. Specifically, the Company consolidates majority owned entities for which the Company is presumed to have control. The ownership interests of these entities held by third parties are reflected as noncontrolling interests in the accompanying financial statements. The Company began consolidating a majority of these non-VIE entities as a result of the asset contributions from its Parent during the second half of 2014. For certain of these entities, the Company previously held a percentage ownership, but following the incremental contributions from its Parent, were presumed to have control.
	In addition, the Company has noncontrolling interests in joint ventures and partnerships that do not qualify as VIEs and do not meet the control requirements for consolidation as defined by GAAP.
	All inter-company balances and transactions have been eliminated in consolidation.
	Fair Value Option
	In connection with the application of acquisition accounting related to the Merger Transaction, the Successor Company elected the fair value option of accounting for its financial assets and CLO secured notes for the primary purpose of reporting values that more closely aligned with KKR & Co.'s method of accounting. Related unrealized gains and losses are reported in net realized and unrealized gain (loss) on investments in the consolidated statements of operations.
	Fair Value of Financial Instruments
	Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation techniques are applied. These valuation techniques involve varying levels of management estimation and judgment, the degree of which is dependent on a variety of factors including the price transparency for the instruments or market and the instruments' complexity for disclosure purposes. Assets and liabilities in the consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their value. Hierarchical levels, as defined under GAAP, are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets and liabilities, and are as follows:
	Level 1: Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.
	Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar instruments in active markets, and inputs other than quoted prices that are observable for the asset or liability.
	Level 3: Inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability.
	A significant decrease in the volume and level of activity for the asset or liability is an indication that transactions or quoted prices may not be representative of fair value because in such market conditions there may be increased instances of transactions that are not orderly. In those circumstances, further analysis of transactions or quoted prices is needed, and a significant adjustment to the transactions or quoted prices may be necessary to estimate fair value.
	The availability of observable inputs can vary depending on the financial asset or liability and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument is new, whether the instrument is traded on an active exchange or in the secondary market, and the current market condition. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the asset. The variability and availability of the observable inputs affected by the factors described above may cause transfers between Levels 1, 2, and/or 3, which the Company recognizes at the end of the reporting period.
	Many financial assets and liabilities have bid and ask prices that can be observed in the marketplace. Bid prices reflect the highest price that the Company and others are willing to pay for an asset. Ask prices represent the lowest price that the Company and others are willing to accept for an asset. For financial assets and liabilities whose inputs are based on bid-ask prices, the Company does not require that fair value always be a predetermined point in the bid-ask range. The Company's policy is to allow for mid-market pricing and adjusting to the point within the bid-ask range that meets the Company's best estimate of fair value.
	Depending on the relative liquidity in the markets for certain assets, the Company may transfer assets to Level 3 if it determines that observable quoted prices, obtained directly or indirectly, are not available. The valuation techniques used for the assets and liabilities that are valued using Level 3 of the fair value hierarchy are described below.
	Securities and Corporate Loans, at Estimated Fair Value:    Securities and corporate loans, at estimated fair value are initially valued at transaction price and are subsequently valued using market data for similar instruments (e.g., recent transactions or broker quotes), comparisons to benchmark derivative indices or valuation models. Valuation models are based on yield analysis techniques, where the key inputs are based on relative value analyses, which incorporate similar instruments from similar issuers. In addition, an illiquidity discount is applied where appropriate.
	Equity and Interests in Joint Ventures and Partnerships, at Estimated Fair Value:    Equity and interests in joint ventures and partnerships, at estimated fair value, are initially valued at transaction price and are subsequently valued using observable market prices, if available, or internally developed models in the absence of readily observable market prices. Interests in joint ventures and partnerships include certain equity investments related to the oil and gas, commercial real estate and specialty lending sectors. Valuation models are generally based on market comparables and discounted cash flow approaches, in which various internal and external factors are considered. Factors include key financial inputs and recent public and private transactions for comparable investments. Key inputs used for the discounted cash flow approach, which incorporates significant assumptions and judgment, include the weighted average cost of capital and assumed inputs used to calculate terminal values, such as earnings before interest, taxes, depreciation and amortization ("EBITDA") exit multiples. For natural resources investments, which are generally valued using a discounted cash flow analysis, key inputs include commodity price forecasts and the weighted average cost of capital. In addition, the valuations of natural resources investments generally incorporate both commodity prices as quoted on indices and long-term commodity price forecasts, which may be substantially different from, and are currently higher than, commodity prices on certain indices for equivalent future dates. Long-term commodity price forecasts are utilized to capture the value of the investments across a range of commodity prices within the portfolio associated with future development and to reflect price expectations that are estimated to be required to balance demand and production in global commodity markets over the long-term.
	Upon completion of the valuations conducted using these approaches, a weighting is ascribed to each approach and an illiquidity discount is applied where appropriate. The ultimate fair value recorded for a particular investment will generally be within the range suggested by the two approaches.
	Over-the-counter ("OTC") Derivative Contracts:    OTC derivative contracts include forward, swap and option contracts related to interest rates, foreign currencies, credit standing of reference entities and equity prices. OTC derivatives are initially valued using quoted market prices, if available, or models using a series of techniques, including closed-form analytic formulae, such as the Black-Scholes option-pricing model, and/or simulation models in the absence of quoted market prices. Many pricing models employ methodologies that have pricing inputs observed from actively quoted markets, as is the case for generic interest rate swap and option contracts.
	Residential Mortgage-Backed Securities, at Estimated Fair Value:    RMBS are initially valued at transaction price and are subsequently valued using a third party valuation servicer. The most significant inputs to the valuation of these instruments are default and loss expectations and constant prepayment rates.
	Collateralized Loan Obligation Secured Notes:    Collateralized loan obligation secured notes are initially valued at transaction price and are subsequently valued using a third party valuation servicer. The most significant inputs to the valuation of these instruments are default and loss expectations and discount margins.
	Key unobservable inputs that have a significant impact on the Company's Level 3 valuations as described above are included in Note 14 to these consolidated financial statements. The Company utilizes several unobservable pricing inputs and assumptions in determining the fair value of its Level 3 investments. These unobservable pricing inputs and assumptions may differ by asset and in the application of the Company's valuation methodologies. The reported fair value estimates could vary materially if the Company had chosen to incorporate different unobservable pricing inputs and other assumptions or, for applicable investments, if the Company only used either the discounted cash flow methodology or the market comparables methodology instead of assigning a weighting to both methodologies.
	Valuation Process
	Investments are generally valued based on quotations from third party pricing services, unless such a quotation is unavailable or is determined to be unreliable or inadequately representing the fair value of the particular assets. In that case, valuations are based on either valuation data obtained from one or more other third party pricing sources, including broker dealers, or will reflect the valuation committee's good faith determination of estimated fair value based on other factors considered relevant. The Company utilizes a valuation committee, whose members consist of certain employees of the Manager. The valuation committee is responsible for coordinating and implementing the Company's quarterly valuation process.
	The valuation process involved in Level 3 measurements for assets and liabilities is completed on a quarterly basis and is designed to subject the valuation of Level 3 investments to an appropriate level of consistency, oversight and review. For assets classified as Level 3, valuations may be performed by the relevant investment professionals or by independent third parties with input from the relevant investment professionals and are based on various factors including evaluation of financial and operating data, company specific developments, market discount rates and valuations of comparable companies and model projections. Asset valuations are approved by the valuation committee.
	Cash and Cash Equivalents
	Cash and cash equivalents include cash on hand, cash held in banks and highly liquid investments with original maturities of three months or less. Interest income earned on cash and cash equivalents is recorded in other within total revenues on the consolidated statements of operations.
	Restricted Cash and Cash Equivalents
	Restricted cash and cash equivalents represent amounts that are held by third parties under certain of the Company's financing and derivative transactions. Interest income earned on restricted cash and cash equivalents is recorded in other within total revenues on the consolidated statements of operations.
	On the consolidated statements of cash flows, net additions or reductions to restricted cash and cash equivalents are classified as an investing activity as restricted cash and cash equivalents reflect the receipts from collections or sales of investments, as well as payments made to acquire investments held by third parties.
	Securities
	Securities Available-for-Sale
	The Predecessor and Successor Company both classify certain of their investments in securities as available-for-sale as the Companies may sell them prior to maturity and do not hold them principally for the purpose of selling them in the near term. These investments are carried at estimated fair value. The Successor Company elected the fair value option of accounting for its securities, with changes in estimated fair value reported in net realized and unrealized gain (loss) on investments in the consolidated statements of operations. Comparatively, the Predecessor Company reported all unrealized gains and losses in accumulated other comprehensive loss on the consolidated balance sheets.
	The Predecessor Company monitored its available-for-sale securities portfolio for impairments. A loss was recognized when it was determined that a decline in the estimated fair value of a security below its amortized cost was other-than-temporary. The Company considered many factors in determining whether the impairment of a security was deemed to be other-than-temporary, including, but not limited to, the length of time the security had a decline in estimated fair value below its amortized cost and the severity of the decline, the amount of the unrealized loss, recent events specific to the issuer or industry, external credit ratings and recent changes in such ratings. In addition, for debt securities, the Company considered its intent to sell the debt security, the Company's estimation of whether or not it expected to recover the debt security's entire amortized cost if it intended to hold the debt security, and whether it was more likely than not that the Company was required to sell the debt security before its anticipated recovery. For equity securities, the Company also considered its intent and ability to hold the equity security for a period of time sufficient for a recovery in value.
	The amount of the loss that was recognized when it was determined that a decline in the estimated fair value of a security below its amortized cost was other-than-temporary was dependent on certain factors. If the security was an equity security or if the security was a debt security that the Company intended to sell or estimated that it was more likely than not that the Company would be required to sell before recovery of its amortized cost, then the impairment amount recognized in earnings was the entire difference between the estimated fair value of the security and its amortized cost. For debt securities that the Company did not intend to sell or estimated that it was not more likely than not to be required to sell before recovery, the impairment was separated into the estimated amount relating to credit loss and the estimated amount relating to all other factors. Only the estimated credit loss amount was recognized in earnings, with the remainder of the loss amount recognized in accumulated other comprehensive loss.
	Unamortized premiums and unaccreted discounts on securities available-for-sale were recognized in interest income over the contractual life, adjusted for actual prepayments, of the securities using the effective interest method.
	Other Securities, at Estimated Fair Value
	The Predecessor and Successor Company both elected the fair value option of accounting for certain of their securities for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these securities. All securities, at estimated fair value are included within securities on the consolidated balance sheets.
	Estimated fair values are based on quoted market prices, when available, on estimates provided by independent pricing sources or dealers who make markets in such securities, or internal valuation models when external sources of fair value are not available. In accounting for the Merger Transaction, the difference between the estimated fair value, as of the Effective Date, and the par amount became the new premium or discount to be amortized or accreted over the remaining terms, adjusted for actual prepayments, of the securities using the effective interest method.
	Residential Mortgage-Backed Securities, at Estimated Fair Value
	The Predecessor and Successor Company both elected the fair value option of accounting for their residential mortgage investments for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these investments. RMBS, at estimated fair value are included within securities on the consolidated balance sheets.
	Equity Investments, at Estimated Fair Value
	The Predecessor and Successor Company both elected the fair value option of accounting for certain of their equity investments, at estimated fair value, including private equity investments received through restructuring debt transactions or issued by an entity in which the Company may have significant influence. The Companies elected the fair value option for certain of their equity investments for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these investments. Equity investments carried at estimated fair value are presented separately on the consolidated balance sheets.
	Interests in Joint Ventures and Partnerships
	The Predecessor and Successor Company both elected the fair value option of accounting for certain of their interests in joint ventures and partnerships. The Companies elected the fair value option of accounting for certain of their noncontrolling interests in joint ventures and partnerships for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these interests. Interests in joint ventures and partnerships are presented separately on the consolidated balance sheets.
	Equity Method Investments
	The Company holds certain investments where the Company does not control the investee and where the Company is not the primary beneficiary, but can exert significant influence over the financial and operating policies of the investee. Significant influence typically exists if the Company has a 20% to 50% ownership interest in the investee unless predominant evidence to the contrary exists. The evaluation of whether the Company exerts control or significant influence over the financial and operational policies of an investee may also require significant judgment based on the facts and circumstances surrounding each individual investment. Factors include investor voting or other rights, any influence the Company may have on the governing board of the investee and the relationship between the Company and other investors in the entity. The Company elected the fair value option to account for these equity investments with any changes in estimated fair value recorded in net realized and unrealized gain (loss) on investments in the consolidated statements of operations.
	Corporate Loans, Net
	In connection with the Company's application of acquisition accounting related to the Merger Transaction and to align more closely with KKR & Co.'s method of accounting, the Company elected to carry all of its corporate loans at estimated fair value as of the Effective Date, with changes in estimated fair value recorded in net realized and unrealized gain (loss) on investments in the consolidated statements of operations. As presented under the Predecessor Company, corporate loans had previously been accounted for based on the following three categories: (i) corporate loans held for investment, which were measured based on their principal plus or minus unaccreted purchase discounts and unamortized purchase premiums, net of an allowance for loan losses; (ii) corporate loans held for sale, which were measured at lower of cost or estimated fair value; and (iii) corporate loans at estimated fair value, which were measured at fair value. As such, the disclosures related to loans held for investment and loans held for sale pertain to the Predecessor Company.
	Corporate Loans
	Prior to the Effective Date, corporate loans were generally held for investment and the Company initially recorded corporate loans at their purchase prices. The Company subsequently accounted for corporate loans based on their outstanding principal plus or minus unaccreted purchase discounts and unamortized purchase premiums and corporate loans that the Company transferred to held for sale were transferred at the lower of cost or estimated fair value. As of the Effective Date, the Company initially recorded corporate loans at their purchase prices and subsequently accounts for all corporate loans at estimated fair value.
For both the Predecessor and Successor Companies, interest income on corporate loans includes interest at stated coupon rates adjusted for accretion of purchase discounts and the amortization of purchase premiums. Unamortized premiums and unaccreted discounts are recognized in interest income over the contractual life, adjusted for actual prepayments, of the corporate loans using the effective interest method.
A corporate loan is typically placed on non-accrual status at such time as: (i) management believes that scheduled debt service payments may not be paid when contractually due; (ii) the corporate loan becomes 90 days delinquent; (iii) management determines the borrower is incapable of, or has ceased efforts toward, curing the cause of the impairment; or (iv) the net realizable value of the collateral securing the corporate loan decreases below the Company's carrying value of such corporate loan. As such, corporate loans placed on non-accrual status may or may not be contractually past due at the time of such determination. While on non-accrual status, previously recognized accrued interest is reversed if it is determined that such amounts are not collectible and interest income is recognized using the cost-recovery method, cash-basis method or some combination of the two methods. A corporate loan is placed back on accrual status when the ultimate collectability of the principal and interest is not in doubt.
Prior to the Effective Date, other than corporate loans measured at estimated fair value, corporate loans acquired with deteriorated credit quality are recorded at initial cost and interest income is recognized as the difference between the Company's estimate of all cash flows that it will receive from the loan in excess of its initial investment on a level-yield basis over the life of the corporate loan (accretable yield) using the effective interest method.
In addition, prior to the Effective Date, the Company may have modified corporate loans in transactions where the borrower was experiencing financial difficulty and a concession was granted to the borrower as part of the modification. These concessions may have included one or a combination of the following: a reduction of the stated interest rate; payment extensions; forgiveness of principal; or an exchange of assets. Such modifications typically qualified as troubled debt restructurings ("TDRs"). In order to determine whether the borrower was experiencing financial difficulty, an evaluation was performed including the following considerations: whether the borrower was or would have been in payment default on any of its debt in the foreseeable future without the modification; whether there was a potential for a bankruptcy filing; whether there was a going-concern issue; or whether the borrower was unable to secure financing elsewhere.
Corporate loans whose terms had been modified in a TDR were considered impaired, unless accounted for at fair value or the lower of cost or estimated fair value, and were typically placed on non-accrual status, but could have been moved to accrual status when, among other criteria, payment in full of all amounts due under the restructured terms was expected and the borrower demonstrated a sustained period of repayment performance, typically six months.
TDRs were separately identified for impairment disclosures and were measured at either the estimated fair value or the present value of estimated future cash flows using the respective corporate loan's effective rate at inception. Impairments associated with TDRs were included within the allocated component of the Company's allowance for loan losses.
The Company may have also identified receivables that were newly considered impaired and disclosed the total amount of receivables and the allowance for credit losses as of the end of the period of adoption related to those receivables that were newly considered impaired.
The corporate loans the Company invested in were generally deemed in default upon the non-payment of a single interest payment or as a result of the violation of a covenant in the respective corporate loan agreement. The Company charged-off a portion or all of its amortized cost basis in a corporate loan when it determined that it was uncollectible due to either: (i) the estimation based on a recovery value analysis of a defaulted corporate loan that less than the amortized cost amount would have been recovered through the agreed upon restructuring of the corporate loan or as a result of a bankruptcy process of the issuer of the corporate loan or (ii) the determination by the Company to transfer a corporate loan to held for sale with the corporate loan having an estimated fair value below the amortized cost basis of the corporate loan.
In addition to TDRs, the Company may have also modified corporate loans which usually involved changes in existing interest rates combined with changes of existing maturities to prevailing market rates/maturities for similar instruments at the time of modification. Such modifications typically did not meet the definition of a TDR since the respective borrowers were neither experiencing financial difficulty nor were seeking a concession as part of the modification.
Allowance for Loan Losses
As a result of the Merger Transaction, the acquisition method of accounting and adoption of fair value for corporate loans eliminated the need for an allowance for loan losses. The reevaluation of assets required by the acquisition method of accounting resulted in all loans being reported at their estimated fair values as of the Effective Date. The estimated fair value took into account the contractual payments on loans that were not expected to be received and consequently, no allowance for loan losses was carried over for the Successor Company. As of the Effective Date, no allowance for loan losses will be recorded as all corporate loans are carried at estimated fair value. As such, the disclosure related to the allowance for loan losses pertains to the Predecessor Company.
The Company's corporate loan portfolio is comprised of a single portfolio segment which includes one class of financing receivables, that is, high yield loans that are typically purchased via assignment or participation in either the primary or secondary market. High yield loans are generally characterized as having below investment grade ratings or being unrated.
Prior to the Effective Date, the Company's allowance for loan losses represented its estimate of probable credit losses inherent in its corporate loan portfolio held for investment as of the balance sheet date. Estimating the Company's allowance for loan losses involved a high degree of management judgment and was based upon a comprehensive review of the Company's corporate loan portfolio that was performed on a quarterly basis. The Company's allowance for loan losses consisted of two components, an allocated component and an unallocated component. The allocated component of the allowance for loan losses pertained to specific corporate loans that the Company had determined were impaired. The Company determined a corporate loan was impaired when management estimated that it was probable that the Company would be unable to collect all amounts due according to the contractual terms of the corporate loan agreement. On a quarterly basis the Company performed a comprehensive review of its entire corporate loan portfolio and identified certain corporate loans that it had determined were impaired. Once a corporate loan was identified as being impaired, the Company placed the corporate loan on non-accrual status, unless the corporate loan was already on non-accrual status, and recorded an allowance that reflected management's best estimate of the loss that the Company expected to recognize from the corporate loan. The expected loss was estimated as being the difference between the Company's current cost basis of the corporate loan, including accrued interest receivable, and the present value of expected future cash flows discounted at the corporate loan's effective interest rate, except as a practical expedient, the corporate loan's observable estimated fair value may have been used. The Company also estimated the probable credit losses inherent in its unfunded loan commitments as of the balance sheet date. Any credit loss reserve for unfunded loan commitments was recorded in accounts payable, accrued expenses and other liabilities on the Company's consolidated balance sheets.
The unallocated component of the Company's allowance for loan losses represented its estimate of probable losses inherent in the corporate loan portfolio as of the balance sheet date where the specific loan that the loan loss relates to was indeterminable. The Company estimated the unallocated component of the allowance for loan losses through a comprehensive review of its corporate loan portfolio and identified certain corporate loans that demonstrated possible indicators of impairment, including internally assigned credit quality indicators. This assessment excluded all corporate loans that were determined to be impaired and as a result, an allocated reserve had been recorded as described in the preceding paragraph. Such indicators included the current and/or forecasted financial performance, liquidity profile of the issuer, specific industry or economic conditions that may have impacted the issuer, and the observable trading price of the corporate loan if available. All corporate loans were first categorized based on their assigned risk grade and further stratified based on the seniority of the corporate loan in the issuer's capital structure. The seniority classifications assigned to corporate loans were senior secured, second lien and subordinate. Senior secured consisted of corporate loans that were the most senior debt in an issuer's capital structure and therefore had a lower estimated loss severity than other debt that was subordinate to the senior secured loan. Senior secured corporate loans often had a first lien on some or all of the issuer's assets. Second lien consisted of corporate loans that were secured by a second lien interest on some or all of the issuer's assets; however, the corporate loan was subordinate to the first lien debt in the issuer's capital structure. Subordinate consisted of corporate loans that were generally unsecured and subordinate to other debt in the issuer's capital structure.
There were three internally assigned risk grades that were applied to loans that have not been identified as being impaired: high, moderate and low. High risk meant that there was evidence of possible loss due to the current and/or forecasted financial performance, liquidity profile of the issuer, specific industry or economic conditions that may have impacted the issuer, observable trading price of the corporate loan if available, or other factors that indicated that the breach of a covenant contained in the related loan agreement was possible. Moderate risk meant that while there was not observable evidence of possible loss, there were issuer and/or industry specific trends that indicated a loss may have occurred. Low risk meant that while there was no identified evidence of loss, there was the risk of loss inherent in the loan that had not been identified. All loans held for investment, with the exception of loans that had been identified as impaired, were assigned a risk grade of high, moderate or low.
The Company applied a range of default and loss severity estimates in order to estimate a range of loss outcomes upon which to base its estimate of probable losses that resulted in the determination of the unallocated component of the Company's allowance for loan losses.
Corporate Loans Held for Sale
As described above, corporate loans held for sale related to the Predecessor Company. From time to time the Company made the determination to transfer certain of its corporate loans from held for investment to held for sale. The decision to transfer a loan to held for sale was generally as a result of the Company determining that the respective loan's credit quality in relation to the loan's expected risk-adjusted return no longer met the Company's investment objective and/or the Company deciding to reduce or eliminate its exposure to a particular loan for risk management purposes. Corporate loans held for sale were stated at lower of cost or estimated fair value and were assessed on an individual basis. Prior to transferring a loan to held for sale, any difference between the carrying amount of the loan and its outstanding principal balance was recognized as an adjustment to the yield by the effective interest method. The loan was transferred from held for investment to held for sale at the lower of its cost or estimated fair value and was carried at the lower of its cost or estimated fair value thereafter. Subsequent to transfer and while the loan was held for sale, recognition as an adjustment to yield by the effective interest method was discontinued for any difference between the carrying amount of the loan and its outstanding principal balance.
From time to time the Company also made the determination to transfer certain of its corporate loans from held for sale back to held for investment. The decision to transfer a loan back to held for investment was generally as a result of the circumstances that led to the initial transfer to held for sale no longer being present. Such circumstances may have included deteriorated market conditions often resulting in price depreciation or assets becoming illiquid, changes in restrictions on sales and certain loans amending their terms to extend the maturity, whereby the Company determined that selling the asset no longer met its investment objective and strategy. The loan was transferred from held for sale back to held for investment at the lower of its cost or estimated fair value, whereby a new cost basis was established based on this amount.
Interest income on corporate loans held for sale was recognized through accrual of the stated coupon rate for the loans, unless the loans were placed on non-accrual status, at which point previously recognized accrued interest was reversed if it was determined that such amounts were not collectible and interest income was recognized using either the cost-recovery method or on a cash-basis.
Corporate Loans, at Estimated Fair Value
The Predecessor and Successor Company both elected the fair value option of accounting for certain of their corporate loans for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these corporate loans. All corporate loans carried at estimated fair value are included within corporate loans, net on the consolidated balance sheets.
Estimated fair values are based on quoted prices for similar instruments in active markets and inputs other than observable quoted prices, or internal valuation models when external sources of fair value are not available. In accounting for the Merger Transaction, the difference between the estimated fair value, as of the Effective Date, and the par amount became the new premium or discount to be amortized or accreted over the remaining terms, adjusted for actual prepayments, of the corporate loans using the effective interest method.
As described above under "Basis of Presentation," as of the Effective Date, purchases and sales of corporate loans are recorded on the trade date.
Oil and Natural Gas Properties
As described further in Note 6, during the third quarter of 2014, the Company closed a certain transaction and distributed certain assets focused on the development of oil and gas properties to its Parent, leaving only overriding royalty interests as oil and natural gas properties, net on the consolidated balance sheets. As such, the policies below including matters such as drilling, repairs and maintenance, and production pertain to those properties owned prior to the transaction and distribution.
Oil and natural gas producing activities are accounted for under the successful efforts method of accounting. Under this method, exploration costs, other than the costs of drilling exploratory wells, were charged to expense as incurred. Costs that are associated with the drilling of successful exploration wells were capitalized if proved reserves are found. Lease acquisition costs were capitalized when incurred. Costs associated with the drilling of exploratory wells that do not find proved reserves, geological and geophysical costs and costs of certain nonproducing leasehold costs were expensed as incurred.
Expenditures for repairs and maintenance, including workovers, were charged to expense as incurred.
The capitalized costs of producing oil and natural gas properties were depleted on a field-by-field basis using the units-of production method based on the ratio of current production to estimated total net proved oil, natural gas and NGL reserves. Proved developed reserves were used in computing depletion rates for drilling and development costs and total proved reserves were used for depletion rates of leasehold costs.
Estimated dismantlement and abandonment costs for oil and natural gas properties, net of salvage value, were capitalized at their estimated net present value and amortized on a unit-of-production basis over the remaining life of the related proved developed reserves.
Oil and Gas Revenue Recognition
Oil, natural gas and natural gas liquid ("NGL") revenues are recognized when production is sold to a purchaser at fixed or determinable prices, when delivery has occurred and title has transferred and collectability of the revenue is reasonably assured. The Company follows the sales method of accounting for natural gas revenues. Under this method of accounting, revenues are recognized based on volumes sold, which may differ from the volume to which the Company is entitled based on the Company's working interest. An imbalance is recognized as a liability only when the estimated remaining reserves will not be sufficient to enable the under-produced owners to recoup their entitled share through future production. Under the sales method, no receivables are recorded when the Company has taken less than its share of production and no payables are recorded when the Company has taken more than its share of production.
Long-Lived Assets
Whenever events or changes in circumstances indicate that the carrying amounts of such properties may not be recoverable, the Company evaluates its proved oil and natural gas properties and related equipment and facilities for impairment on a field-by-field basis. The determination of recoverability is made based upon estimated undiscounted future net cash flows. The amount of impairment loss, if any, is determined by comparing the fair value, as determined by a discounted cash flow analysis, with the carrying value of the related asset. The factors used to determine fair value include, but are not limited to, estimates of proved reserves, future commodity pricing, future production estimates, anticipated capital expenditures, future operating costs and a discount rate commensurate with the risk on the properties and cost of capital. Unproved oil and natural gas properties were assessed periodically and, at a minimum, annually on a property-by-property basis, and any impairment in value was recognized when incurred.
Borrowings
The Company finances the majority of its investments through the use of secured borrowings in the form of securitization transactions structured as non-recourse secured financings and other secured and unsecured borrowings. In addition, the Company financed certain of its oil and gas asset acquisitions through borrowings. The Company recognizes interest expense on all borrowings on an accrual basis.
In connection with the Company's application of acquisition accounting related to the Merger Transaction and to align more closely with KKR & Co.'s method of accounting, the Company elected to carry its collateralized loan obligation secured notes at estimated fair value as of the Effective Date, with changes in estimated fair value recorded in net realized and unrealized gain (loss) on debt in the consolidated statements of operations. Prior to the Effective Date, collateralized loan obligation secured notes were carried at amortized cost.
Trust Preferred Securities
Trusts formed by the Company for the sole purpose of issuing trust preferred securities are not consolidated by the Company as the Company has determined that it is not the primary beneficiary of such trusts. The Company's investment in the common securities of such trusts is included within other assets on the consolidated balance sheets.
Preferred Shares
Distributions on the Company's Series A LLC Preferred Shares are cumulative and payable quarterly when and if declared by the Company's board of directors at a 7.375% rate per annum. The Company accrues for the distribution upon declaration and is included within accounts payable, accrued expenses and other liabilities on the consolidated balance sheets.
Derivative Instruments
The Company recognizes all derivatives on the consolidated balance sheet at estimated fair value. On the date the Company enters into a derivative contract, the Company designates and documents each derivative contract as one of the following at the time the contract is executed: (i) a hedge of a recognized asset or liability ("fair value" hedge); (ii) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability ("cash flow" hedge); (iii) a hedge of a net investment in a foreign operation; or (iv) a derivative instrument not designated as a hedging instrument ("free-standing derivative"). For a fair value hedge, the Company records changes in the estimated fair value of the derivative instrument and, to the extent that it is effective, changes in the fair value of the hedged asset or liability in the current period earnings in the same financial statement category as the hedged item. For a cash flow hedge, the Company records changes in the estimated fair value of the derivative to the extent that it is effective in accumulated other comprehensive loss and subsequently reclassifies these changes in estimated fair value to net income in the same period(s) that the hedged transaction affects earnings. The effective portion of the cash flow hedges is recorded in the same financial statement category as the hedged item. For free-standing derivatives, the Company reports changes in the fair values in net realized and unrealized gain (loss) on derivatives and foreign exchange on the consolidated statements of operations.
The Company formally documents at inception its hedge relationships, including identification of the hedging instruments and the hedged items, its risk management objectives, strategy for undertaking the hedge transaction and the Company's evaluation of effectiveness of its hedged transactions. Periodically, the Company also formally assesses whether the derivative it designated in each hedging relationship is expected to be and has been highly effective in offsetting changes in estimated fair values or cash flows of the hedged item using either the dollar offset or the regression analysis method. If the Company determines that a derivative is not highly effective as a hedge, it discontinues hedge accounting.
In connection with the Merger Transaction, the Company discontinued hedge accounting for its cash flow hedges and, as of the Effective Date, classifies all derivative instruments as free-standing derivatives. As a result, the Company records changes in the estimated fair value of the derivative instruments in net realized and unrealized gain (loss) on derivatives and foreign exchange on the consolidated statements of operations.
Foreign Currency
The Company makes investments in non-United States dollar denominated assets including securities, loans, equity investments and interests in joint ventures and partnerships. As a result, the Company is subject to the risk of fluctuation in the exchange rate between the United States dollar and the foreign currency in which it makes an investment. In order to reduce the currency risk, the Company may hedge the applicable foreign currency. All investments denominated in a foreign currency are converted to the United States dollar using prevailing exchange rates on the balance sheet date.
Income, expenses, gains and losses on investments denominated in a foreign currency are converted to the United States dollar using the prevailing exchange rates on the dates when they are recorded. Foreign exchange gains and losses are recorded in net realized and unrealized gain (loss) on derivatives and foreign exchange on the consolidated statements of operations.
Noncontrolling Interests
Noncontrolling interests represent noncontrolling interests in consolidated entities held by third party investors. Income (loss) is allocated to noncontrolling interests based on the relative ownership interests of third party investors and is presented as net income attributable to noncontrolling interests on the consolidated statements of operations. Noncontrolling interests are also presented separately within equity in the consolidated balance sheets.
Manager Compensation
The Management Agreement provides for the payment of a base management fee to the Manager, as well as an incentive fee if the Company's financial performance exceeds certain benchmarks. Additionally, the Management Agreement provides for the Manager to be reimbursed for certain expenses incurred on the Company's behalf. The base management fee and the incentive fee are accrued and expensed during the period for which they are earned by the Manager.
Share-Based Compensation
In connection with the Merger Transaction, the Predecessor Company's common shares were converted into 0.51 KKR & Co. common units. Prior to the Effective Date, the Company accounted for share-based compensation issued to its directors and to its Manager using the fair value based methodology in accordance with relevant accounting guidance. Compensation cost related to restricted common shares issued to the Company's directors was measured at its estimated fair value at the grant date, and was amortized and expensed over the vesting period on a straight-line basis. Compensation cost related to restricted common shares and common share options issued to the Manager was initially measured at estimated fair value at the grant date, and was remeasured on subsequent dates to the extent the awards were unvested. The Company elected to use the graded vesting attribution method to amortize compensation expense for the restricted common shares and common share options granted to the Manager.
Income Taxes
The Company intends to continue to operate so as to qualify, for United States federal income tax purposes, as a partnership and not as an association or publicly traded partnership taxable as a corporation. Therefore, the Company generally is not subject to United States federal income tax at the entity level, but is subject to limited state and foreign taxes. Holders of the Company's Series A LLC Preferred Shares will be allocated a share of the Company's gross ordinary income for the taxable year of the Company ending within or with their taxable year. Holders of the Company's Series A LLC Preferred Shares will not be allocated any gains or losses from the sale of the Company's assets.
The Company owns equity interests in entities that have elected or intend to elect to be taxed as a real estate investment trust (a "REIT") under the Internal Revenue Code of 1986, as amended (the "Code"). A REIT generally is not subject to United States federal income tax to the extent that it currently distributes its income and satisfies certain asset, income and ownership tests, and recordkeeping requirements, but it may be subject to some amount of federal, state, local and foreign taxes based on its taxable income.
The Company has wholly-owned domestic and foreign subsidiaries that are taxable as corporations for United States federal income tax purposes and thus are not consolidated with the Company for United States federal income tax purposes. For financial reporting purposes, current and deferred taxes are provided for on the portion of earnings recognized by the Company with respect to its interest in the domestic taxable corporate subsidiaries, because each is taxed as a regular corporation under the Code. Deferred income tax assets and liabilities are computed based on temporary differences between the GAAP consolidated financial statements and the United States federal income tax basis of assets and liabilities as of each consolidated balance sheet date. The foreign corporate subsidiaries were formed to make certain foreign and domestic investments from time to time. The foreign corporate subsidiaries are organized as exempted companies incorporated with limited liability under the laws of the Cayman Islands, and are anticipated to be exempt from United States federal and state income tax at the corporate entity level because they restrict their activities in the United States to trading in stock and securities for their own account. However, the Company will be required to include their current taxable income in the Company's calculation of its gross ordinary income allocable to holders of its Series A LLC Preferred Shares.
The Company must recognize the tax impact from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax impact recognized in the financial statements from such a position is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. Penalties and interest related to uncertain tax positions are recorded as tax expense. Significant judgment is required in the identification of uncertain tax positions and in the estimation of penalties and interest on uncertain tax positions. If it is determined that recognition for an uncertain tax provision is necessary, the Company would record a liability for an unrecognized tax expense from an uncertain tax position taken or expected to be taken.
Earnings Per Common Share
In connection with the Merger Transaction, as of the Effective Date, the Company is now a subsidiary of KKR Fund Holdings, a subsidiary of KKR & Co., which owns 100 common shares of the Company constituting all of the Company's outstanding common shares. As KKR Fund Holdings is the Company's sole shareholder, earnings per common share is not reported for the Successor Company. Prior to the Effective Date, the Company presented both basic and diluted earnings per common share ("EPS") in its consolidated financial statements and footnotes thereto. Basic earnings per common share ("Basic EPS") excluded dilution and was computed by dividing net income or loss available to common shareholders by the weighted average number of common shares, including vested restricted common shares, outstanding for the period. The Company calculated EPS using the more dilutive of the two-class method or the if-converted method. The two-class method was an earnings allocation formula that determined EPS for common shares and participating securities. Unvested share-based payment awards that contained non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) were participating securities and were included in the computation of EPS using the two-class method. Accordingly, all earnings (distributed and undistributed) were allocated to common shares, preferred shares and participating securities based on their respective rights to receive dividends. Diluted earnings per common share ("Diluted EPS") reflected the potential dilution of common share options and unvested restricted common shares using the treasury method or if-converted method.
Recent Accounting Pronouncements
Consolidation
In August 2014, the FASB amended existing standards to provide an entity that consolidates a collateralized financing entity ("CFE") that had elected the fair value option for the financial assets and financial liabilities of such CFE an alternative to current fair value measurement guidance. If elected, the Company could measure both the financial assets and the financial liabilities of the CFE by using the fair value of the financial assets or the fair value of the financial liabilities, whichever is more observable. The election would effectively eliminate any measurement difference previously reflected in earnings and attributed to the reporting entity in the consolidated statements of operations. The effective date of the consensus will be for annual periods, and interim periods within those annual periods, beginning after December 15, 2015 for public companies. Early adoption will be permitted as of the beginning of an annual period. The Company is currently evaluating the impact of this accounting update on its financial statements should it elect adoption.

MERGER_TRANSACTION

MERGER TRANSACTION	12 Months Ended
	Dec. 31, 2014
MERGER TRANSACTION
MERGER TRANSACTION	NOTE 3. MERGER TRANSACTION
	On December 16, 2013, the Company announced the signing of a definitive merger agreement pursuant to which KKR & Co. had agreed to acquire all of the Company's outstanding common shares through an exchange of equity through which the Company's shareholders would receive 0.51 common units representing the limited partnership interests of KKR & Co. for each common share of KFN. On April 30, 2014, the date of the Merger Transaction, the transaction was approved by the Company's common shareholders and the merger was completed, resulting in KFN becoming a subsidiary of KKR & Co. The merger was a taxable transaction for the Company's common shareholders for U.S. federal income tax purposes.
	Pursuant to the merger agreement, on the date of the Merger Transaction, (i) each outstanding option to purchase a KFN common share was cancelled, as the exercise price per share applicable to all outstanding options exceeded the cash value of the number of KKR & Co. common units that a holder of one KFN common share is entitled to in the merger, (ii) each outstanding restricted KFN common share (other than those held by the Manager) was converted into 0.51 KKR & Co. common units having the same terms and conditions as applied immediately prior to the effective time, and (iii) each phantom share under KFN's Non-Employee Directors' Deferred Compensation and Share Award Plan was converted into a phantom share in respect of 0.51 KKR & Co. common units and otherwise remains subject to the terms of the plan.
	The Merger Transaction was recorded under the acquisition method of accounting by KKR & Co. and pushed down to the Company by allocating the total purchase consideration of $2.4 billion to the cost of the assets purchased and the liabilities assumed based on their estimated fair values at the date of the Merger Transaction. The excess of the total estimated fair values of the assets acquired and liabilities assumed over the purchase price and value of the preferred shares, which constitute noncontrolling interests in the Company, was recorded as a bargain purchase gain by KKR & Co.
	In connection with the Merger Transaction, the Company recognized approximately $24.2 million of total transaction costs. Of this total, $22.7 million was recorded during the four months ended April 30, 2014 within general, administrative and directors' expenses on the consolidated statements of operations. These costs included the contingent consideration owed to the Company's financial and legal advisors upon the merger closing.
	The following table summarizes the estimated fair values assigned to the assets purchased and liabilities assumed (amounts in thousands):
	Assets acquired:
	Cash and cash equivalents		$	210,413
	Restricted cash and cash equivalents			649,967
	Securities			541,149
	Corporate loans			6,649,054
	Equity investments			297,054
	Oil and gas properties, net			505,238
	Interests in joint ventures and partnerships			491,324
	Derivative assets			26,383
	Interest and principal receivable			35,992
	Other assets			208,144
	Total assets			9,614,718
	Liabilities assumed:
	Collateralized loan obligation secured notes			5,663,666
	Credit facilities			63,189
	Senior notes			415,538
	Junior subordinated notes			245,782
	Accounts payable, accrued expenses and other liabilities			357,084
	Accrued interest payable			17,647
	Derivative liabilities			88,356
	Total liabilities			6,851,262
	Fair value of preferred shares			378,983
	Fair value of net assets acquired			2,384,473
	Less: Purchase price			2,369,559
	Bargain purchase gain(1)		$	14,914
	-1	Represents the excess of the fair value of the net assets acquired over the purchase price and value of the preferred shares, which constitute noncontrolling interests in the Company. This difference was recorded as an adjustment to the Company's additional paid-in-capital as of the Effective Date.
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The estimated fair values of assets acquired and liabilities assumed were primarily based on information that was available as of the Merger Transaction date. The methodology used to estimate the fair values to apply purchase accounting are summarized below.
	The carrying values of cash, restricted cash, interest and principal receivable, credit facilities, accounts payable, accrued expenses and other liabilities, and accrued interest payable represented the fair values. Fair value measurements for financial instruments and other assets included (i) market data for similar instruments (e.g. recent transactions or broker quotes), comparisons to benchmark derivative indices or valuation models for corporate loans and securities, (ii) third party valuation servicers for residential mortgage-backed securities, (iii) observable market prices, if available, or internally developed models, for equity investments, oil and gas properties, interests in joint ventures and partnerships, and (iv) quoted market prices, if available, or models using a series of techniques for derivative assets and liabilities. The fair value measurements for the liabilities assumed included (i) third party valuation servicers for the collateralized loan obligation secured notes and junior subordinated notes and (ii) observable market prices for the senior notes.

SECURITIES

SECURITIES	12 Months Ended
	Dec. 31, 2014
SECURITIES.
SECURITIES	NOTE 4. SECURITIES
	In connection with the Merger Transaction and as of the Effective Date, the Company accounts for all of its securities, including RMBS, at estimated fair value. Prior to the Effective Date, the Company accounted for securities based on the following categories: (i) securities available-for-sale, which were carried at estimated fair value, with unrealized gains and losses reported in accumulated other comprehensive income (loss); (ii) other securities, at estimated fair value, with unrealized gains and losses recorded in the consolidated statements of operations; and (iii) RMBS, at estimated fair value, with unrealized gains and losses recorded in the consolidated statements of operations.
	Successor Company
	The following table summarizes the Company's securities as of December 31, 2014, which was carried at estimated fair value (amounts in thousands):
			December 31, 2014
			Par			Amortized Cost			Estimated
									Fair Value
	Securities, at estimated fair value		$	721,094		$	654,257		$	638,605
	Total		$	721,094		$	654,257		$	638,605
	Net Realized and Unrealized Gains (Losses)
	Realized gains or losses are measured by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the asset without regard to unrealized gains or losses previously recognized. Unrealized gains or losses are computed as the difference between the estimated fair value of the asset and the amortized cost basis of such asset. Unrealized gains or losses primarily reflect the change in asset values, including the reversal of previously recorded unrealized gains or losses when gains or losses are realized. The following table presents the Company's realized and unrealized gains (losses) from securities for the eight months ended December 31, 2014 (amounts in thousands):
			Eight months ended
			December 31, 2014
	Net realized gains (losses)		$	2,891
	Net change in unrealized gains (losses)			(11,460	)
	Net realized and unrealized gains (losses)		$	(8,569	)
	The following table summarizes the amortized cost and estimated fair value of securities available-for-sale by remaining contractual maturity and weighted average coupon based on par values as of December 31, 2014 (dollar amounts in thousands):
	Description		Amortized			Estimated			Weighted
			Cost			Fair			Average
						Value			Coupon
	Due within one year		$	8,079		$	6,129			7.1	%
	One to five years			250,972			242,990			8.7
	Five to ten years			216,519			215,728			11.0
	Greater than ten years			123,889			118,574			0.7
	Total		$	599,459		$	583,421
	The remaining contractual maturities in the table above were allocated assuming no prepayments. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations, with or without call or prepayment penalties.
	Defaulted Securities
	As of December 31, 2014, the Company had a corporate debt security from one issuer in default with an estimated fair value of $8.7 million, which was on non-accrual status.
	Concentration Risk
	The Company's corporate debt securities portfolio has certain credit risk concentrated in a limited number of issuers. As of December 31, 2014, approximately 70% of the estimated fair value of the Company's corporate debt securities portfolio was concentrated in ten issuers, with the three largest concentrations of debt securities in securities issued by Preferred Proppants LLC, JC Penney Corp. Inc. and LCI Helicopters Limited, which combined represented $213.6 million, or approximately 37% of the estimated fair value of the Company's corporate debt securities.
	Pledged Assets
	Note 8 to these consolidated financial statements describes the Company's borrowings under which the Company has pledged securities for borrowings. The following table summarizes the estimated fair value of securities pledged as collateral as of December 31, 2014 (amounts in thousands):
			As of
			December 31,
			2014
	Pledged as collateral for collateralized loan obligation secured debt		$	262,085
	Total		$	262,085
	Predecessor Company
	The following table summarizes the Company's securities as of December 31, 2013, which were carried at estimated fair value (amounts in thousands):
			December 31, 2013
			Amortized			Gross			Gross			Estimated
			Cost			Unrealized			Unrealized			Fair
						Gains			Losses			Value
	Securities available-for-sale		$	326,775		$	24,791		$	(1,225	)	$	350,341
	Other securities, at estimated fair value(1)			135,968			12,436			(1,437	)		146,967
	Residential mortgage-backed securities, at estimated fair value(1)			138,284			2,809			(65,089	)		76,004
	Total securities		$	601,027		$	40,036		$	(67,751	)	$	573,312
	-1	Unrealized gains and losses presented represent amounts as of period-end. Unrealized gains and losses recognized during the year for these securities are recorded in earnings.
	The following table shows the gross unrealized losses and estimated fair value of the Company's available-for-sale securities, aggregated by length of time that the individual securities had been in a continuous unrealized loss position as of December 31, 2013 (amounts in thousands):
			Less Than 12 months						12 Months or More						Total
			Estimated			Unrealized			Estimated			Unrealized			Estimated		Unrealized
			Fair			Losses			Fair			Losses			Fair		Losses
			Value						Value						Value
	December 31, 2013
	Securities available-for-sale		$	25,543		$	(658	)	$	30,034		$	(567	)	$	55,577	$	(1,225	)
	The unrealized losses in the table above were considered to be temporary impairments due to market factors and were not reflective of credit deterioration. The Company considered many factors when evaluating whether impairment was other-than-temporary. For securities available-for-sale included in the table above, the Company did not intend to sell or believe that it was more likely than not that the Company would be required to sell any of its securities available-for-sale prior to recovery. In addition, based on the analyses performed by the Company on each of its securities available-for-sale, the Company believed that it was able to recover the entire amortized cost amount of the securities available-for-sale included in the table above.
	During the four months ended April 30, 2014, the Company recognized losses totaling $4.4 million for securities available-for-sale that it determined to be other-than-temporarily impaired. During the years ended December 31, 2013 and 2012, the Company recognized losses totaling $19.5 million and $8.2 million, respectively, for securities available-for-sale that it determined to be other-than-temporarily impaired. The Company intended to sell these securities and as a result, the entire amount of the loss was recorded through earnings in net realized and unrealized gain (loss) on investments in the consolidated statements of operations.
	For common and preferred stock, the Company considers many factors when evaluating whether impairment is other-than-temporary, including its intent and ability to hold the common and preferred stock for a period of time sufficient for recovery to cost. If the Company believes it will not recover the cost basis based on its intent or ability, an other-than-temporary loss will be recorded through earnings in net realized and unrealized gain on investments in the consolidated statements of operations.
	As of April 30, 2014 and December 31, 2013, the Company had no investments in common or preferred stock classified as available-for-sale. During the year ended December 31, 2012, the Company recognized losses totaling $0.2 million for common and preferred stock that it determined to be other-than-temporary impaired.
	Securities available-for-sale sold at a loss typically include those that the Company determined to be other-than-temporarily impaired or had deterioration in credit quality. The following table shows the net realized gains (losses) on the sales of securities available-for-sale (amounts in thousands):
			For the			Year ended			Year ended
			four months			December 31,			December 31,
			ended			2013			2012
			April 30,
2014
Gross realized gains		$	2,516		$	2,829		$	85,982
Gross realized losses			—			(42	)		(12	)
Net realized gains (losses)		$	2,516		$	2,787		$	85,970
Troubled Debt Restructurings
As discussed above in Note 2 to these consolidated financial statements, beginning the Effective Date, the Company accounts for all of its securities at estimated fair value with unrealized gains and losses recorded in the consolidated financial statements. Accordingly, TDR disclosure pertains to the Predecessor Company. During the four months ended April 30, 2014, the Company modified a security with an amortized cost of $24.1 million related to a single issuer in a restructuring that qualified as a TDR. The TDR involving this security, along with corporate loans related to the same issuer, were converted into a combination of equity carried at estimated fair value and cash. Post-modification, the equity securities received from the security TDR had an estimated fair value of $16.1 million. Refer to "Troubled Debt Restructurings" section within Note 5 to these consolidated financial statements for further discussion on the loan TDRs related to this single issuer. There were no securities that qualified as TDRs during the year ended December 31, 2013.
As of April 30, 2014, no securities modified as TDRs were in default within a twelve month period subsequent to their original restructuring.
Defaulted Securities
As of December 31, 2013, the Company had a corporate debt security from one issuer in default with an estimated fair value of $25.4 million, which was on non-accrual status.
Concentration Risk
As of December 31, 2013, approximately 55% of the estimated fair value of the Company's corporate debt securities portfolio was concentrated in ten issuers, with the three largest concentrations of debt securities in securities issued by LCI Helicopters Limited, JC Penney Corp. Inc. and NXP Semiconductor NV, which combined represented $104.5 million, or approximately 21% of the estimated fair value of the Company's corporate debt securities.
Pledged Assets
Note 8 to these consolidated financial statements describes the Company's borrowings under which the Company has pledged securities for borrowings. The following table summarizes the estimated fair value of securities pledged as collateral as of December 31, 2013 (amounts in thousands):
		As of
		December 31,
		2013
Pledged as collateral for collateralized loan obligation secured debt		$	324,830
Total		$	324,830

CORPORATE_LOANS_AND_ALLOWANCE_

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES	12 Months Ended
	Dec. 31, 2014
CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES
CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES	NOTE 5. CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES
	In connection with the Merger Transaction and as of the Effective Date, the Company accounts for all of its corporate loans at estimated fair value. Prior to the Effective Date, the Company accounted for loans based on the following categories: (i) corporate loans held for investment, which were measured based on their principal plus or minus unaccreted purchase discounts and unamortized purchase premiums, net of an allowance for loan losses; (ii) corporate loans held for sale, which were measured at lower of cost or estimated fair value; and (iii) corporate loans, at estimated fair value, which were measured at fair value.
	Successor Company
	The following table summarizes the Company's corporate loans, at estimated fair value as of December 31, 2014 (amounts in thousands):
			December 31, 2014
			Par			Amortized			Estimated
						Cost			Fair Value
	Corporate loans, at estimated fair value		$	6,907,373		$	6,710,570		$	6,506,564
	Total		$	6,907,373		$	6,710,570		$	6,506,564
	Net Realized and Unrealized Gains (Losses)
	Realized gains or losses are measured by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the asset without regard to unrealized gains or losses previously recognized. Unrealized gains or losses are computed as the difference between the estimated fair value of the asset and the amortized cost basis of such asset. Unrealized gains or losses primarily reflect the change in asset values, including the reversal of previously recorded unrealized gains or losses when gains or losses are realized. The following tables present the Company's realized and unrealized gains (losses) from corporate loans for the eight months ended December 31, 2014 (amounts in thousands):
			Eight months
			ended
			December 31,
			2014
	Net realized gains (losses)		$	1,411
	Net change in unrealized gains (losses)			(204,006	)
	Net realized and unrealized gains (losses)		$	(202,595	)
	Non-Accrual Loans
	A loan is considered past due if any required principal and interest payments have not been received as of the date such payments were required to be made under the terms of the loan agreement. A loan may be placed on non-accrual status regardless of whether or not such loan is considered past due. As of December 31, 2014, the Company held a total par value and estimated fair value of $580.1 million and $342.1 million, respectively, of non-accrual loans. As of December 31, 2014, the Company held a total par value and estimated fair value of $410.2 million and $266.9 million, respectively, of 90 or more days past due loans, all of which were on non-accrual status and in default as of December 31, 2014.
	Defaulted Loans
	As of December 31, 2014, the Company held four corporate loans that were in default with a total estimated fair value of $266.9 million from two issuers.
	Concentration Risk
	The Company's corporate loan portfolio has certain credit risk concentrated in a limited number of issuers. As of December 31, 2014 under the Successor Company where all corporate loans are carried at estimated fair value, approximately 38% of the total estimated fair value of the Company's corporate loan portfolio was concentrated in twenty issuers, with the three largest concentrations of corporate loans in loans issued by U.S. Foods Inc., Texas Competitive Electric Holdings Company LLC ("TXU") and First Data Corp., which combined represented $700.4 million, or approximately 11% of the aggregate estimated fair value of the Company's corporate loans.
	Pledged Assets
	Note 8 to these consolidated financial statements describes the Company's borrowings under which the Company has pledged loans for borrowings. The following table summarizes the corporate loans pledged as collateral as of December 31, 2014 (amounts in thousands):
			As of
			December 31,
			2014
			Estimated
			Fair
			Value
	Pledged as collateral for collateralized loan obligation secured debt		$	6,205,292
	Total		$	6,205,292
	Predecessor Company
	The following table summarizes the Company's corporate loans as of December 31, 2013 (amounts in thousands):
			December 31, 2013
			Corporate			Corporate			Corporate			Total
			Loans Held			Loans Held			Loans, at			Corporate
			for Investment			for Sale			Estimated			Loans
									Fair Value
	Principal(1)		$	6,280,470		$	315,738		$	277,458		$	6,873,666
	Net unamortized discount			(105,979	)		(20,070	)		(54,997	)		(181,046	)
	Total amortized cost			6,174,491			295,668			222,461			6,692,620
	Lower of cost or fair value adjustment			—			(15,920	)		—			(15,920	)
	Allowance for loan losses			(224,999	)		—			—			(224,999	)
	Net unrealized gains			—			—			15,019			15,019
	Net carrying value		$	5,949,492		$	279,748		$	237,480		$	6,466,720
	-1	Principal amounts of corporate loans and corporate loans held for sale are net of cumulative charge-offs and other adjustments totaling $18.1 million as of December 31, 2013.
	Allowance for Loan Losses
	As discussed above in Note 2 to these consolidated financial statements, beginning the Effective Date, the new basis of accounting for corporate loans at estimated fair value eliminated the need for an allowance for loan losses. Accordingly, disclosure related to allowance for loan losses pertains to the Predecessor Company. As of December 31, 2013, the Company had an allowance for loan losses of $225.0 million. As described in Note 2 to these consolidated financial statements, the allowance for loan losses represented the Company's estimate of probable credit losses inherent in its loan portfolio as of the balance sheet date. The Company's allowance for loan losses consisted of two components, an allocated component and an unallocated component. The allocated component of the allowance for loan losses consisted of individual loans that were impaired. The unallocated component of the allowance for loan losses represented the Company's estimate of losses inherent, but not identified, in its portfolio as of the balance sheet date.
	The following table summarizes the changes in the allowance for loan losses for the Company's corporate loan portfolio during the four months ended April 30, 2014 and years ended December 31, 2013 and 2012 (amounts in thousands):
			For the four			Year ended			Year ended
			months ended			December 31,			December 31,
			April 30,			2013			2012
			2014
	Allowance for loan losses:
	Beginning balance		$	224,999		$	223,472		$	191,407
	Provision for loan losses			—			32,812			46,498
	Charge-offs			(1,458	)		(31,285	)		(14,433	)
	Ending balance		$	223,541		$	224,999		$	223,472
	The following table summarizes the ending balances of the allowance and corporate loans portfolio by basis of impairment method as of December 31, 2013 (amounts in thousands):
			December 31, 2013
	Allowance for loan losses:
Ending balance: individually evaluated for impairment		$	142,682
Ending balance: collectively evaluated for impairment			82,317
		$	224,999
Corporate loans (recorded investment)(1):
Ending balance: individually evaluated for impairment		$	554,442
Ending balance: collectively evaluated for impairment			5,638,790
		$	6,193,232
-1	Recorded investment is defined as amortized cost plus accrued interest.
As of December 31, 2013, the allocated component of the allowance for loan losses totaled $142.7 million and related to investments in certain loans issued by four issuers with an aggregate par amount of $594.4 million and an aggregate recorded investment of $554.4 million. Of the allocated component totaling $142.7 million, $66.9 million related to TXU, which had an aggregate amortized cost of $311.6 million as of December 31, 2013.
The following table summarizes the Company's recorded investment and unpaid principal balance in impaired loans, as well as the related allowance for credit losses as of December 31, 2013 (amounts in thousands):
		December 31, 2013
		Recorded			Unpaid			Related
		Investment(1)			Principal			Allowance
					Balance
With no related allowance recorded		$	—		$	—		$	—
With an allowance recorded			554,442			594,416			142,682
Total		$	554,442		$	594,416		$	142,682
-1	Recorded investment is defined as amortized cost plus accrued interest.
The Company recognized $4.5 million of interest income related to impaired loans with a related allowance recorded for the four months ended April 30, 2014. The following table summarizes the Company's average recorded investment in impaired loans and interest income recognized for the years ended December 31, 2013 and 2012 (amounts in thousands):
		For the year ended						For the year ended
		December 31, 2013						December 31, 2012
		Average			Interest			Average			Interest
		Recorded			Income			Recorded			Income
		Investment(1)			Recognized			Investment(1)			Recognized
With no related allowance recorded		$	1,298		$	—		$	3,540		$	208
With an allowance recorded			524,924			18,194			199,083			9,310
Total		$	526,222		$	18,194		$	202,623		$	9,518
-1	Recorded investment is defined as amortized cost plus accrued interest.
As of December 31, 2013, the allocated component of the allowance for loan losses included all impaired loans. While all of the Company's impaired loans were on non-accrual status, the Company's non-accrual loans also included (i) other loans held for investment, (ii) corporate loans held for sale and (iii) loans carried at estimated fair value, which were not reflected in the table above. Any of these three classifications may have included those loans modified in a TDR, which were typically designated as being non-accrual (see "Troubled Debt Restructurings" section below).
The following table summarizes the Company's recorded investment in non-accrual loans as of December 31, 2013 (amounts in thousands):
		December 31, 2013
Loans held for investment		$	554,442
Loans held for sale			44,823
Loans at estimated fair value			24,883
Total non-accrual loans		$	624,148
For the four months ended April 30, 2014, the amount of interest income recognized using the cash-basis method during the time within the period that the loans were on non-accrual status was $5.3 million, which included $4.5 million for non-accrual loans that were held for investment, $0.7 million for non-accrual loans held for sale and $0.1 million for non-accrual loans carried at estimated fair value. Comparatively, the amount of interest income recognized using the cash-basis method during the time within the period that the loans were impaired was $25.1 million, which included $18.2 million for impaired loans that were held for investment and $6.9 million for non-accrual loans held for sale for the year ended December 31, 2013. The amount of interest income recognized using the cash-basis method during the time within the period that the loans were impaired was $19.6 million, which included $9.5 million for impaired loans that were held for investment and $10.1 million for non-accrual loans held for sale for the year ended December 31, 2012.
A loan is considered past due if any required principal and interest payments have not been received as of the date such payments were required to be made under the terms of the loan agreement. A loan may be placed on non-accrual status regardless of whether or not such loan is considered past due. As of December 31, 2013, the Company held a total recorded investment of $237.2 million of non-accrual and past due loans held for investment from three issuers, certain of which were in default as of December 31, 2013. The associated past due interest payments related to the $237.2 million recorded investment was $5.6 million, of which $0.9 million was less than 30 days past due, $2.3 million was 60-89 days past due, and $2.4 million was 90 or more days past due. In addition, as of December 31, 2013, the Company held $15.5 million par amount and $12.2 million estimated fair value of non-accrual and past due loans carried at estimated fair value from one issuer, which was also in default as of December 31, 2013. The associated interest payments related to the $12.2 million loans at estimated fair value that were 90 or more days past due was $0.2 million.
The unallocated component of the allowance for loan losses totaled $82.3 million as of December 31, 2013. As described in Note 2 to these consolidated financial statements, the Company estimated the unallocated components of the allowance for loan losses through a comprehensive review of its loan portfolio and identified certain loans that demonstrated possible indicators of impairments, including credit quality indicators. The following table summarizes how the Company determined internally assigned grades related to credit quality based on a combination of concern as to probability of default and the seniority of the loan in the issuer's capital structure as of December 31, 2013 (amounts in thousands):
Internally Assigned Grade		Capital Hierarchy		Recorded Investment
				December 31, 2013(1)
High		Senior Secured Loan		$	26,886
		Second Lien Loan			286,996
		Subordinated			11,643
				$	325,525
Moderate		Senior Secured Loan		$	1,033,065
		Second Lien Loan			27,504
		Subordinated			39,329
				$	1,099,898
Low		Senior Secured Loan		$	4,148,913
		Second Lien Loan			25,864
		Subordinated			38,590
				$	4,213,367
		Total Unallocated		$	5,638,790
		Total Allocated			554,442
		Total Loans Held for Investment		$	6,193,232
-1	Recorded investment is defined as amortized cost plus accrued interest.
During the four months ended April 30, 2014, the Company recorded charge-offs totaling $1.5 million, comprised primarily of loans modified in TDRs. During the years ended December 31, 2013 and 2012, the Company recorded charge-offs totaling $31.3 million and $14.4 million, respectively, comprised primarily of loans modified in TDRs and loans transferred to loans held for sale.
Loans Held For Sale and the Lower of Cost or Fair Value Adjustment
As discussed above in Note 2 to these consolidated financial statements, beginning the Effective Date, the new basis of accounting for corporate loans at estimated fair value eliminated the need for the bifurcation between corporate loans held for investment and loans held for sale. Accordingly, related disclosure pertains to the Predecessor Company. As of December 31, 2013, the Company had $279.7 million of loans held for sale. During the four months ended April 30, 2014, the Company transferred $348.8 million amortized cost amount of loans from held for investment to held for sale. During the year ended December 31, 2013, the Company transferred $323.4 million amortized cost amount of loans from held for investment to held for sale. The transfers of certain loans to held for sale were due to the Company's determination that credit quality of a loan in relation to its expected risk-adjusted return no longer met the Company's investment objective and the determination by the Company to reduce or eliminate the exposure for certain loans as part of its portfolio risk management practices. During the four months ended April 30, 2014 and year ended December 31, 2013, the Company did not transfer any loans held for sale back to loans held for investment. Transfers back to held for investment may have occurred as the circumstances that led to the initial transfer to held for sale were no longer present. Such circumstances may have included deteriorated market conditions often resulting in price depreciation or assets becoming illiquid, changes in restrictions on sales and certain loans amending their terms to extend the maturity, whereby the Company determined that selling the asset no longer met its investment objective and strategy.
The Company recorded a $5.0 million reduction to the lower of cost or estimated fair value adjustment for the four months ended April 30, 2014 for certain loans held for sale, which had a carrying value of $546.1 million as of April 30, 2014. Comparatively, the Company recorded a $5.9 million and $2.7 million net charge to earnings during the years ended December 31, 2013 and 2012, respectively, for the lower of cost or estimated fair value adjustment for certain loans held for sale, which had carrying values of $279.7 million and $128.3 million as of December 31, 2013 and 2012, respectively.
Troubled Debt Restructurings
As discussed above in Note 2 to these consolidated financial statements, as of the Effective Date, the Company accounts for all of its corporate loans at estimated fair value. Accordingly, required disclosure related to TDRs pertains to the Predecessor Company. The recorded investment balance of TDRs at December 31, 2013 totaled $55.4 million, related to three issuers. Loans whose terms have been modified in a TDR were considered impaired, unless accounted for at fair value or the lower of cost or estimated fair value, and were typically placed on non-accrual status, but could have been moved to accrual status when, among other criteria, payment in full of all amounts due under the restructured terms was expected and the borrower had demonstrated a sustained period of repayment performance, typically six months. As of December 31, 2013, $55.4 million of TDRs were included in non-accrual loans (see "Non-Accrual Loans" section above). As of December 31, 2013, the allowance for loan losses included specific reserves of $22.1 million related to TDRs.
The following table presents the aggregate balance of loans whose terms have been modified in a TDR during the four months ended April 30, 2014 and years ended December 31, 2013 and 2012 (dollar amounts in thousands):
		Four months ended April 30, 2014									Year ended December 31, 2013							Year ended December 31, 2012
		Number			Pre-			Post-			Number			Pre-		Post-		Number		Pre-		Post-
		of TDRs			modification			modification			of TDRs			modification		modification		of TDRs		modification		modification
					outstanding			outstanding						outstanding		outstanding				outstanding		outstanding
					recorded			recorded						recorded		recorded				recorded		recorded
					investment(1)			investment(1)(2)						investment(1)		investment(1)(3)				investment(1)		investment(1)(4)
Troubled debt restructurings:
Loans held for investment			1		$	154,075		$	—			2		$	68,358	$	39,430		1	$	13,807	$	4,679
Loans held for sale			—			—			—			—			—		—		1		53,875		20,886
Loans at estimated fair value			2			41,347			24,571			1			1,670		1,229		—		—		—
Total					$	195,422			24,571					$	70,028	$	40,659			$	67,682	$	25,565
-1	Recorded investment is defined as amortized cost plus accrued interest.
-2	Excludes equity securities received from the loans held for investment and/or loans at estimated fair value TDRs with an estimated fair value of $92.0 million and $12.3 million, from the two issuers, respectively.
-3	Excludes equity securities received from the TDRs with an estimated fair value of $2.1 million.
-4	Excludes equity securities received from the TDRs with an estimated fair value of $9.5 million.
During the four months ended April 30, 2014, the Company modified an aggregate recorded investment of $195.4 million related to two issuers in restructurings which qualified as TDRs. These restructurings involved conversions of the loans into one of the following: (i) a combination of equity carried at estimated fair value and cash, or (ii) a combination of equity and loans carried at estimated fair value with extended maturities ranging from an additional three to five-year period and a higher spread of 4.0%. Prior to the restructurings, one of the TDRs described above was already identified as impaired and had specific allocated reserves, while the other two were loans carried at estimated fair value. Upon restructuring the impaired loans held for investment, the difference between the recorded investment of the pre-modified loans and the estimated fair value of the new assets plus cash received was charged-off against the allowance for loan losses. The TDRs resulted in $1.1 million of charge-offs, or 76% of the total $1.5 million of charge-offs recorded during the four months ended April 30, 2014.
During the year ended December 31, 2013, the Company modified an aggregate recorded investment of $70.0 million related to three issuers in restructurings which qualified as TDRs. These restructurings occurred during the first quarter of 2013 and involved conversions of the loans into one of the following: (i) new term loans with extended maturities and fixed, rather than floating, interest rates, (ii) equity carried at estimated fair value, or (iii) a combination of equity and loans carried at estimated fair value. The modification involving an extension of maturity date was for an additional four-year period with a higher coupon of 6.8%. Prior to the restructurings, two of the TDRs described above were already identified as impaired and had specific allocated reserves, while the third was a loan carried at estimated fair value. Upon restructuring the impaired loans held for investment, the difference between the recorded investment of the pre-modified loans and the estimated fair value of the new assets was charged-off against the allowance for loan losses. The TDRs resulted in $26.8 million of charge-offs for the year ended December 31, 2013, which comprised 86% of the total $31.3 million of charge-offs recorded during the year ended December 31, 2013.
During the year ended December 31, 2012, the Company exchanged an aggregate recorded investment of $67.7 million of loans from a single issuer for new loans of varying extended maturities and equity, with a combined estimated fair value of $25.6 million, in a modification which qualified as a TDR. The interest rate did not change as a result of this modification. Prior to the TDR, certain of the loans were included in the allocated component of the allowance for loan losses, while the remaining loans were in loans held for sale and were on non-accrual status. The difference between the recorded investment of the loans and the estimated fair value of the new loans and equity was charged-off against the allowance for loan losses and the lower of cost or estimated fair value allowance. The new loans were included in the allocated component of the allowance for loan losses and in loans held for sale and will be maintained on non-accrual status until performance has been demonstrated by the borrower for a suitable period of time, while the equity was carried at estimated fair value. The loans modified in the TDR were not in default at December 31, 2012.
As of April 30, 2014 and December 31, 2013, there were no commitments to lend additional funds to the issuers whose loans had been modified in a TDR.
As of April 30, 2014 and December 31, 2013, no loans modified as TDRs were in default within a twelve month period subsequent to their original restructuring.
During the four months ended April 30, 2014, the Company modified $1.1 billion amortized cost of corporate loans that did not qualify as TDRs. During the year ended December 31, 2013, the Company modified $2.4 billion amortized cost of corporate loans that did not qualify as TDRs. These modifications involved changes in existing rates and maturities to prevailing market rates/maturities for similar instruments and did not qualify as TDRs as the respective borrowers were not experiencing financial difficulty or seeking (or granted) a concession as part of the modification. In addition, these modifications of non-troubled debt holdings were accomplished with modified loans that were not substantially different from the loans prior to modification.
Defaulted Loans
As of December 31, 2013, the Company held six corporate loans that were in default with a total amortized cost of $215.7 million from two issuers. Of the $215.7 million total amortized cost, $203.7 million were included in the loans that comprised the allocated component of the Company's allowance for loan losses and $12.0 million were included in loans carried at estimated fair value.
Concentration Risk
The Company's corporate loan portfolio has certain credit risk concentrated in a limited number of issuers. As of December 31, 2013, approximately 46% of the total amortized cost basis of the Company's corporate loan portfolio was concentrated in twenty issuers, with the three largest concentrations of corporate loans in loans issued by TXU, Modular Space Corporation and U.S. Foods Inc., which combined represented $935.2 million, or approximately 14% of the aggregate amortized cost basis of the Company's corporate loans.
Pledged Assets
Note 8 to these consolidated financial statements describes the Company's borrowings under which the Company has pledged loans for borrowings. The following table summarizes the corporate loans pledged as collateral as of December 31, 2013 (amounts in thousands):
		As of
		December 31, 2013
		Amortized Cost
Pledged as collateral for collateralized loan obligation secured debt		$	6,231,541
Total		$	6,231,541

NATURAL_RESOURCES_ASSETS

NATURAL RESOURCES ASSETS	12 Months Ended
	Dec. 31, 2014
NATURAL RESOURCES ASSETS
NATURAL RESOURCES ASSETS	NOTE 6. NATURAL RESOURCES ASSETS
	Natural Resources Properties
	As described in Note 2 to these consolidated financial statements, as a result of the Merger Transaction and new accounting basis established for assets and liabilities, oil and gas properties were adjusted to reflect estimated fair value as of the Effective Date, but will continue to be carried at cost net of depreciation, depletion and amortization expense ("DD&A"). The following table summarizes the Company's oil and gas properties as of December 31, 2014 and 2013 (amounts in thousands):
		As of			As of
		December 31, 2014			December 31, 2013
	Proved oil and natural gas properties (successful efforts method)	$	128,800		$	451,909
	Unproved oil and natural gas properties		—			16,913
	Less: Accumulated depreciation, depletion and amortization		(8,526	)		(68,453	)
	Oil and gas properties, net	$	120,274		$	400,369
	On September 30, 2014, the Company closed a transaction whereby certain of the Company's entities holding natural resources assets were merged with certain investment entities of funds advised by KKR and partnerships held by wholly owned subsidiaries of Legend Production Holdings, LLC, a majority owned subsidiary of Riverstone Holdings LLC and the Carlyle Group, to create a new oil and gas company called Trinity River Energy, LLC ("Trinity"). As of December 31, 2014, the Trinity assets had a carrying value of $51.6 million and were classified as interests in joint ventures and partnerships, rather than oil and gas properties, net, on the Company's consolidated balance sheets.
	For both the eight months ended December 31, 2014 and four months ended April 30, 2014, the Company recorded no impairments. Comparatively, for the years ended December 31, 2013 and 2012, the Company recorded $10.4 million and $3.3 million, respectively, of impairments, which are included in net realized and unrealized gain (loss) on investments in the consolidated statements of operations.
	Development and Other Purchases
	The Company accounted for certain of its initial oil and natural gas properties as business combinations under the acquisition method of accounting, whereby the Company (i) conducted assessments of net assets acquired and recognized amounts for identifiable assets acquired and liabilities assumed at their estimated acquisition date fair values and (ii) expensed as incurred transaction and integration costs associated with the acquisitions. Separate from these acquisitions, the Company deployed capital to develop and purchase other interests and assets in the natural resources sector.
	During the third quarter of 2014, certain of the Company's natural resources assets focused on development of oil and gas properties, with an approximate aggregate fair value of $179.2 million, were distributed to the Company's Parent.
	During the eight months ended December 31, 2014, four months ended April 30, 2014 and year ended December 31, 2013, the Company capitalized $30.9 million, $54.1 million and $154.1 million, respectively, as a result of purchasing natural resources assets or covering costs related to the development of oil and gas properties. Accordingly, these amounts were included in oil and gas properties, net on the consolidated balance sheets.

EQUITY_METHOD_INVESTMENTS

EQUITY METHOD INVESTMENTS	12 Months Ended
	Dec. 31, 2014
Equty Method Investments
EQUITY METHOD INVESTMENTS	NOTE 7. EQUITY METHOD INVESTMENTS
	The Company holds certain investments where the Company does not control the investee and where the Company is not the primary beneficiary, but can exert significant influence over the financial and operating policies of the investee. Significant influence typically exists if the Company has a 20% to 50% ownership interest in the investee unless predominant evidence to the contrary exists.
	Under the equity method of accounting, the Company records its proportionate share of net income or loss based on the investee's financial results. Given that the Company elected the fair value option to account for these equity method investments, the Company's share of the investee's underlying net income or loss predominantly represents fair value adjustments in the investments. Changes in estimated fair value are recorded in net realized and unrealized gain (loss) on investments in the consolidated statements of operations.
	As described above in Note 6 to these consolidated financial statements, Trinity was a joint venture formed on September 30, 2014. The Company holds its interest in Trinity through KNR Trinity Holdings LLC. Separate audited financial information for KNR Trinity Holdings LLC and Trinity are included as exhibits to this Annual Report on Form 10-K.
	Summarized Financial Information
	The following table shows summarized financial information for the Company's equity method investments reported under the fair value option of accounting assuming 100% ownership as of December 31, 2014 and 2013 (amounts in thousands):
			Commercial Real Estate						Other
	Years ended		2014			2013			2014			2013
	Total assets		$	959,488		$	928,157		$	774,073		$	504,985
	Total liabilities		$	836,066		$	699,956		$	208,876		$	119,496
	Redeemable stock		$	—		$	—		$	—		$	—
	Noncontrolling interests		$	—		$	—		$	—		$	—
	The following table shows summarized financial information for the Company's equity method investments reported under the fair value option of accounting assuming 100% ownership for the eight months ended December 31, 2014, four months ended April 30, 2014 and years ended December 31, 2013 and 2012 (amounts in thousands):
			Successor Company
	Eight months ended December 31, 2014		Commercial			Other(2)
			Real Estate(1)
	Revenues		$	77,661		$	27,592
	Expenses		$	80,685		$	22,956
	Net income (loss)		$	(3,024	)	$	(22,907	)
			Predecessor Company
			Commercial Real Estate(1)									Other(2)
			Four months			Year ended			Year ended			Four months		Year ended			Year ended
			ended			December 31, 2013			December 31, 2012			ended		December 31, 2013			December 31, 2012
			April 30, 2014									April 30, 2014
	Revenues		$	30,338		$	83,300		$	19,208		$	6,545	$	4,718		$	—
	Expenses		$	36,914		$	96,883		$	27,772		$	6,120	$	5,268		$	—
	Net income (loss)		$	(6,576	)	$	(13,583	)	$	(8,564	)	$	12,252	$	(2,561	)	$	—
	-1	Expenses include operating costs, professional fees, management fees, depreciation and amortization and acquisition costs.
	-2	Revenues and expenses exclude realized and unrealized gains and losses.

BORROWINGS

BORROWINGS	12 Months Ended
	Dec. 31, 2014
BORROWINGS
BORROWINGS	NOTE 8. BORROWINGS
	As described in Note 2 to these consolidated financial statements, as a result of the Merger Transaction and new accounting basis established for assets and liabilities, all borrowings were adjusted to reflect estimated fair value as of the Effective Date. In addition, effective May 1, 2014, the Successor Company elected to account for its collateralized loan obligation secured notes at estimated fair value, with changes in estimated fair value recorded in the consolidated statements of operations. Prior to the Effective Date, all liabilities were carried at amortized cost.
	Certain information with respect to the Company's borrowings as of December 31, 2014 is summarized in the following table (dollar amounts in thousands):
			Par		Carrying			Weighted			Weighted		Collateral(2)
					Value(1)			Average			Average
								Borrowing			Remaining
								Rate			Maturity
											(in days)
	CLO 2005-1 senior secured notes		$	192,384	$	192,260			1.84	%		847	$	224,716
	CLO 2005-2 senior secured notes			242,928		242,365			0.68			1,061		381,362
	CLO 2006-1 senior secured notes			166,841		166,710			1.28			1,333		400,165
	CLO 2007-1 senior secured notes			1,906,409		1,891,228			0.80			2,327		2,182,078
	CLO 2007-1 mezzanine notes			489,723		486,575			3.84			2,327		560,538
	CLO 2007-1 subordinated notes(3)			134,468		119,112			13.75			2,327		153,912
	CLO 2007-A subordinated notes(3)			15,096		25,921			88.02			1,019		66,044
	CLO 2011-1 senior debt			402,515		402,515			1.58			1,323		508,625
	CLO 2012-1 senior secured notes			367,500		364,063			2.33			3,637		365,662
	CLO 2012-1 subordinated notes(3)			18,000		12,986			16.86			3,637		17,910
	CLO 2013-1 senior secured notes			458,500		441,153			1.96			3,849		477,691
	CLO 2013-2 senior secured notes			339,250		331,383			2.21			4,041		357,722
	CLO 9 senior secured notes			463,750		449,349			2.28			4,306		474,072
	CLO 9 subordinated notes(3)			15,000		13,531			—			4,306		15,334
	CLO 10 senior notes			368,000		361,948			2.50			4,002		343,090
	Total collateralized loan obligation secured debt			5,580,364		5,501,099								6,528,921
	8.375% Senior notes			258,750		290,861			8.38			9,816		—
	7.500% Senior notes			115,043		123,663			7.50			9,941		—
	Junior subordinated notes			283,517		246,907			5.39			7,949		—
	Total borrowings		$	6,237,674	$	6,162,530							$	6,528,921
	-1	Carrying value represents estimated fair value for the collateralized loan obligation secured debt and amortized cost for all other borrowings.
	-2	Collateral for borrowings consists of the estimated fair value of certain corporate loans, securities and equity investments at estimated fair value. For purposes of this table, collateral for CLO senior, mezzanine and subordinated notes are calculated pro rata based on the par amount for each respective CLO.
	-3	Subordinated notes do not have a contractual coupon rate, but instead receive a pro rata amount of the net distributions from each respective CLO. Accordingly, weighted average borrowing rates for the subordinated notes are based on cash distributions during the year ended December 31, 2014, if any.
	Certain information with respect to the Company's borrowings as of December 31, 2013 is summarized in the following table (dollar amounts in thousands):
			Outstanding		Weighted			Weighted			Collateral(1)
			Borrowings		Average			Average
					Borrowing			Remaining
					Rate			Maturity
								(in days)
	CLO 2005-1 senior secured notes		$	193,909		0.73	%		1,212		$	303,104
	CLO 2005-2 senior secured notes			335,570		0.63			1,426			496,917
	CLO 2006-1 senior secured notes			384,925		0.69			1,698			649,894
	CLO 2007-1 senior secured notes			2,075,040		0.79			2,692			2,354,938
	CLO 2007-1 mezzanine notes			406,428		3.65			2,692			461,250
	CLO 2007-1 subordinated notes(2)			136,097		18.15			2,692			154,456
	CLO 2007-A senior secured notes			428,152		1.57			1,384			540,677
	CLO 2007-A mezzanine notes			55,327		7.44			1,384			69,867
	CLO 2007-A subordinated notes(2)			15,096		42.22			1,384			19,063
	CLO 2011-1 senior debt			388,703		1.25			1,688			517,597
	CLO 2012-1 senior secured notes			362,727		2.34			4,002			376,603
	CLO 2012-1 subordinated notes(2)			18,000		11.67			4,002			18,689
	CLO 2013-1 senior secured notes			449,409		1.98			4,214			468,915
	Total collateralized loan obligation secured debt			5,249,383								6,431,970
	Senior secured credit facility(3)			75,000		1.39			699			—
	2015 Asset-based borrowing facility			50,289		2.42			674			213,935
	2018 Asset-based borrowing facility(4)			—		—			1,519			—
	Total credit facilities			125,289								213,935
	8.375% Senior notes			250,800		8.38			10,181			—
	7.500% Senior notes			111,476		7.50			10,306			—
	Junior subordinated notes			283,517		5.39			8,347			—
	Total borrowings		$	6,020,465							$	6,645,905
	-1	Collateral for borrowings consists of the estimated fair value of certain corporate loans, securities available-for-sale and equity investments at estimated fair value. Also includes the carrying value of oil and gas assets. For purposes of this table, collateral for CLO senior, mezzanine and subordinated notes are calculated pro rata based on the outstanding borrowings for each respective CLO.
	-2	Subordinated notes do not have a contractual coupon rate, but instead receive a pro rata amount of the net distributions from each respective CLO. Accordingly, weighted average borrowing rates for the subordinated notes were calculated based on year-to-date estimated distributions, if any.
	-3	Capital stock of material domestic and foreign subsidiaries, as defined by the senior secured credit facility agreement, are eligible to be pledged as collateral. As of December 31, 2013, the total investments held within these eligible subsidiaries exceeded the amount of the outstanding debt.
	-4	Borrowing rates range from 1.75% to 3.25% plus London interbank offered rate ("LIBOR") per annum based on the amount outstanding.
	CLO Debt
The indentures governing the Company's CLO transactions stipulate the reinvestment period during which the collateral manager, which is an affiliate of the Company's Manager, can generally sell or buy assets at its discretion and can reinvest principal proceeds into new assets. CLO 2007-A, CLO 2005-1, CLO 2005-2, CLO 2006-1 and CLO 2007-1 are no longer in their reinvestment periods as of December 31, 2014. As a result, principal proceeds from the assets held in each of these transactions are generally used to amortize the outstanding balance of senior notes outstanding.
During the eight months ended December 31, 2014, $500.8 million of original CLO 2005-1, CLO 2005-2, CLO 2006-1 and CLO 2007-1 senior notes were repaid. Pursuant to the terms of the indentures governing our CLO transactions, the Company has the ability to call its CLO transactions after the end of the respective non-call periods. During July 2014, the Company called CLO 2007-A and subsequently repaid aggregate senior and mezzanine notes totaling $494.9 million in 2014. During the four months ended April 30, 2014, $182.6 million of original CLO 2007-A, CLO 2005-1, CLO 2005-2 and CLO 2006-1 senior notes were repaid. Comparatively, during the year ended December 31, 2013, $759.2 million of original CLO 2007-A, CLO 2005-1, CLO 2005-2 and CLO 2006-1 senior notes were repaid. CLO 2012-1, CLO 2013-1, CLO 2013-2, CLO 9 and CLO 10 will end their reinvestment periods during December 2016, July 2017, January 2018, October 2018 and December 2018 respectively.
During February 2015, the Company called CLO 2006-1 and repaid aggregate senior and mezzanine notes totaling $181.8 million par amount. As described below in Note 9 to these consolidated financial statements, the Company used a pay-fixed, receive-variable interest rate swap to hedge interest rate risk associated with CLO 2006-1. In connection with the repayment of CLO 2006-1 notes, the related interest rate swap, with a contractual notional amount of $84.0 million, was terminated.
CLO 2011-1 does not have a reinvestment period and all principal proceeds from holdings in CLO 2011-1 are used to amortize the transaction. During the eight months ended December 31, 2014, $49.4 million of original CLO 2011-1 senior notes were repaid, while during the four months ended April 30, 2014, $39.4 million of original CLO 2011-1 senior notes were repaid. Comparatively, during the year ended December 31, 2013, $77.2 million of original CLO 2011-1 senior notes were repaid.
On December 18, 2014, the Company closed CLO 10, a $415.6 million secured financing transaction maturing on December 15, 2025. The Company issued $368.0 million par amount of senior secured notes to unaffiliated investors, of which $343.0 million was floating rate with a weighted-average coupon of three-month LIBOR plus 2.09% and $25.0 million was fixed rate with a weighted-average coupon of 4.90%. The investments that are owned by CLO 10 collateralize the CLO 10 debt, and as a result, those investments are not available to the Company, its creditors or shareholders.
On September 16, 2014, the Company closed CLO 9, a $518.0 million secured financing transaction maturing on October 15, 2026. The Company issued $463.8 million par amount of senior secured notes to unaffiliated investors, all of which was floating rate with a weighted-average coupon of three-month LIBOR plus 2.01%. The Company also issued $15.0 million of subordinated notes to unaffiliated investors. The investments that are owned by CLO 9 collateralize the CLO 9 debt, and as a result, those investments are not available to the Company, its creditors or shareholders.
On January 23, 2014, the Company closed CLO 2013-2, a $384.0 million secured financing transaction maturing on January 23, 2026. The Company issued $339.3 million par amount of senior secured notes to unaffiliated investors, of which $319.3 million was floating rate with a weighted-average coupon of three-month LIBOR plus 2.16% and $20.0 million was fixed rate at 3.74%. The investments that are owned by CLO 2013-2 collateralize the CLO 2013-2 debt, and as a result, those investments are not available to the Company, its creditors or shareholders.
During the eight months ended December 31, 2014, the Company issued $15.0 million par amount of CLO 2006-1 Class E notes for proceeds of $15.0 million and $37.5 million par amount of CLO 2007-1 Class E notes for proceeds of $37.6 million.
During the four months ended April 30, 2014, the Company issued: (i) $61.1 million par amount of CLO 2007-A class D and E notes for proceeds of $61.3 million, (ii) $72.0 million par amount of CLO 2005-1 class D through F notes for proceeds of $71.5 million, (iii) $21.9 million par amount of CLO 2007-1 class E notes for proceeds of $21.9 million, (iv) $29.8 million par amount of CLO 2007-A class G notes for proceeds of $30.2 million and (v) $29.8 million par amount of CLO 2007-A class H notes for proceeds of $30.1 million.
On September 27, 2013, the Company amended the CLO 2011-1 senior loan agreement (the "CLO 2011-1 Agreement") to upsize the transaction by $300.0 million, of which CLO 2011-1 is now able to borrow up to an incremental $225.0 million. Under the amended CLO 2011-1 Agreement, CLO 2011-1 matures on August 15, 2020 and borrowings under the CLO 2011-1 Agreement bear interest at a rate of the three-month LIBOR plus 1.35%.
On June 25, 2013, the Company closed CLO 2013-1, a $519.4 million secured financing transaction maturing on July 15, 2025. The Company issued $458.5 million par amount of senior secured notes to unaffiliated investors, of which $442.0 million was floating rate with a weighted-average coupon of three-month LIBOR plus 1.67% and $16.5 million was fixed rate at 3.73%. The investments that are owned by CLO 2013-1 collateralize the CLO 2013-1 debt, and as a result, those investments are not available to the Company, its creditors or shareholders.
Credit Facilities
Senior Secured Credit Facility
On November 30, 2012, the Company entered into a credit agreement for a three-year $150.0 million revolving credit facility, maturing on November 30, 2015 (the "2015 Facility"). The Company had the right to prepay loans under the 2015 Facility in whole or in part at any time. Loans under the 2015 Facility bore interest at a rate equal to, at the Company's option, LIBOR plus 2.25% per annum, or an alternate base rate plus 1.25% per annum. As of December 31, 2013, the Company had $75.0 million of borrowings outstanding under the 2015 Facility. In connection with the merger, the Company terminated the 2015 Facility on April 30, 2014, with all amounts outstanding repaid as of March 31, 2014.
Asset-Based Borrowing Facilities
On May 20, 2014, the Company's five-year nonrecourse, asset-based revolving credit facility, maturing on November 5, 2015 (the "2015 Natural Resources Facility"), was adjusted and reduced to $75.0 million, that was subject to, among other things, the terms of a borrowing base derived from the value of eligible specified oil and gas assets. The Company had the right to prepay loans under the 2015 Natural Resources Facility in whole or in part at any time. Loans under the 2015 Natural Resources Facility bore interest at a rate equal to LIBOR plus a tiered applicable margin ranging from 1.75% to 2.75% per annum. The 2015 Natural Resources Facility contained customary covenants applicable to the Company. As of December 31, 2013, the Company had $50.3 million of borrowings outstanding under the 2015 Natural Resources Facility. On September 30, 2014, the 2015 Natural Resources Facility was terminated in connection with the Trinity transaction, with all amounts outstanding repaid as of September 30, 2014.
On February 27, 2013, the Company entered into a separate credit agreement for a five-year $6.0 million non-recourse, asset-based revolving credit facility, maturing on February 27, 2018 (the "2018 Natural Resources Facility"), that was subject to, among other things, the terms of a borrowing base derived from the value of eligible specified oil and gas assets. On May 15, 2014, the 2018 Natural Resources Facility was adjusted and increased to $68.5 million. The Company had the right to prepay loans under the 2018 Natural Resources Facility in whole or in part at any time. Loans under the 2018 Natural Resources Facility bore interest at a rate equal to LIBOR plus a tiered applicable margin ranging from 1.75% to 3.25% per annum. The 2018 Natural Resources Facility contained customary covenants applicable to the Company. As of December 31, 2013, the Company had zero outstanding under the 2018 Natural Resources Facility. On July 1, 2014, the 2018 Natural Resources Facility was terminated in connection with the Company's distribution of certain natural resources assets to its Parent, with all amounts outstanding repaid as of July 1, 2014.
As of the termination date for each of the respective credit facilities and December 31, 2013, the Company believed it was in compliance with the covenant requirements for its credit facilities.
Convertible Debt
On January 18, 2013, in accordance with the indenture relating to the Company's $172.5 million 7.5% convertible senior notes due January 15, 2017 ("7.5% Notes"), the Company issued a conversion rights termination notice ("Termination Notice") to holders of the 7.5% Notes whereby it terminated the right to convert the 7.5% Notes to common shares. The conversion rate as of January 18, 2013 was equal to 141.8256 common shares for each $1,000 principal amount of 7.5% Notes, plus an additional 9.2324 common shares per $1,000 principal amount to account for the make-whole premium. Holders of $172.5 million 7.5% Notes submitted their notes for conversion for which the Company satisfied by physical settlement with 26.1 million common shares.
Contractual Obligations
The table below summarizes the Company's contractual obligations (excluding interest) under borrowing agreements as of December 31, 2014 (amounts in thousands):
		Payments Due by Period
		Total		Less than			1 - 3			3 - 5		More than 5
				1 year			years			years		years
CLO 2005-1 notes		$	192,384	$	—		$	192,384		$	—	$	—
CLO 2005-2 notes			242,928		—			242,928			—		—
CLO 2006-1 notes			166,841		—			—			166,841		—
CLO 2007-1 notes			2,530,600		—			—			—		2,530,600
CLO 2007-A notes			15,096		—			15,096			—		—
CLO 2011-1 debt			402,515		—			—			402,515		—
CLO 2012-1 notes			385,500		—			—			—		385,500
CLO 2013-1 notes			458,500		—			—			—		458,500
CLO 2013-2 notes			339,250		—			—			—		339,250
CLO 9 notes			478,750		—			—			—		478,750
CLO 10 notes			368,000		—			—			—		368,000
Senior notes			373,793		—			—			—		373,793
Junior subordinated notes			283,517		—			—			—		283,517
Total		$	6,237,674	$	—		$	450,408		$	569,356	$	5,217,910
The remaining contractual maturities in the table above were allocated assuming no prepayments and represent the principal amount of all notes, excluding any discount and accounting adjustments. Expected maturities may differ from contractual maturities because the Company, as the borrower, may have the right to call or prepay certain obligations, with or without call or prepayment penalties.

DERIVATIVE_INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2014
DERIVATIVE INSTRUMENTS
DERIVATIVE INSTRUMENTS	NOTE 9. DERIVATIVE INSTRUMENTS
	The Company enters into derivative transactions in order to hedge its interest rate risk exposure to the effects of interest rate changes. Additionally, the Company enters into derivative transactions in the course of its portfolio management activities. The counterparties to the Company's derivative agreements are major financial institutions with which the Company and its affiliates may also have other financial relationships. In the event of nonperformance by the counterparties, the Company is potentially exposed to losses. The counterparties to the Company's derivative agreements have investment grade ratings and, as a result, the Company does not anticipate that any of the counterparties will fail to fulfill their obligations.
	The table below summarizes the aggregate notional amount and estimated net fair value of the derivative instruments as of December 31, 2014 and 2013 (amounts in thousands):
			As of						As of
			December 31, 2014						December 31, 2013
			Notional			Estimated			Notional			Estimated
						Fair Value						Fair Value
	Cash Flow Hedges:
	Interest rate swaps		$	—		$	—		$	478,333		$	(42,078	)
	Free-Standing Derivatives:
	Interest rate swaps			426,000			(54,071	)		—			—
	Commodity swaps			—			—			—			1,493
	Credit default swaps—protection purchased			—			—			(100,000	)		(2,019	)
	Foreign exchange forward contracts			(442,181	)		27,428			(320,380	)		(25,258	)
	Foreign exchange options			—			—			129,900			8,941
	Common stock warrants			—			—			—			945
	Total rate of return swaps			—			(130	)		—			(229	)
	Options			—			5,212			—			6,794
	Total					$	(21,561	)				$	(51,411	)
	Cash Flow Hedges
	Interest Rate Swaps
	As described above in Note 2 to these consolidated financial statements, in connection with the Merger Transaction and as of the Effective Date, the Company discontinued hedge accounting for its cash flow hedges and records changes in the estimated fair value of the derivative instruments in the consolidated statements of operations. Accordingly, disclosures related to cash flow hedges pertain to the Predecessor Company.
	The Company uses interest rate swaps to hedge a portion of the interest rate risk associated with its borrowings under CLO senior secured notes as well as certain of its floating rate junior subordinated notes. The Predecessor Company designated these interest rate swaps as cash flow hedges and as of December 31, 2013, had interest rate swaps with a notional amount totaling $478.3 million. Changes in the estimated fair value of the interest rate swaps were recorded through accumulated other comprehensive loss, with gains or losses representing hedge ineffectiveness, if any, recognized in earnings during the reporting period.
	The following table presents the net gains (losses) recognized in other comprehensive loss related to derivatives in cash flow hedging relationships for the four months ended April 30, 2014 and years ended December 31, 2013 and 2012 (amounts in thousands):
			For the four			Year ended			Year ended
			months ended			December 31,			December 31,
			April 30, 2014			2013			2012
	Net gains (losses) recognized in other comprehensive loss on cash flow hedges		$	(5,442	)	$	48,479		$	10,169
	For all hedges where hedge accounting was applied, effectiveness testing and other procedures to ensure the ongoing validity of the hedges were performed at least quarterly. During the four months ended April 30, 2014 and years ended December 31, 2013 and 2012, the Company did not recognize any ineffectiveness in income on the consolidated statements of operations from its cash flow hedges.
	As of December 31, 2014, the Successor Company had interest rate swaps with a notional amount of $426.0 million, which were classified as free-standing derivatives, rather than cash flow hedges.
	Free-Standing Derivatives
	Free-standing derivatives are derivatives that the Company has entered into in conjunction with its investment and risk management activities, but for which the Company has not designated the derivative contract as a hedging instrument for accounting purposes. Such derivative contracts may include commodity derivatives, credit default swaps ("CDS") and foreign exchange contracts and options. Free-standing derivatives also include investment financing arrangements (total rate of return swaps) whereby the Company receives the sum of all interest, fees and any positive change in fair value amounts from a reference asset with a specified notional amount and pays interest on such notional amount plus any negative change in fair value amounts from such reference asset.
	Gains and losses on free-standing derivatives are reported in net realized and unrealized gain (loss) on derivatives and foreign exchange in the consolidated statements of operations. Unrealized gains (losses) represent the change in fair value of the derivative instruments and are noncash items.
	Credit Default Swaps
	A CDS is a contract in which the contract buyer pays, in the case of a short position, or receives, in the case of long position, a periodic premium until the contract expires or a credit event occurs. In return for this premium, the contract seller receives a payment from or makes a payment to the buyer if there is a credit default or other specified credit event with respect to the issuer (also known as the reference entity) of the underlying credit instrument referenced in the CDS. Typical credit events include bankruptcy, dissolution or insolvency of the reference entity, failure to pay and restructuring of the obligations of the reference entity.
	As of December 31, 2014 and 2013, the Company had purchased protection with a notional amount of zero and $100.0 million, respectively. The Company sells or purchases protection to replicate fixed income securities and to complement the spot market when cash securities of the referenced entity of a particular maturity are not available or when the derivative alternative is less expensive compared to other purchasing alternatives. In addition, the Company may purchase protection to hedge economic exposure to declines in value of certain credit positions. The Company purchases its protection from banks and broker dealers, other financial institutions and other counterparties.
	Foreign Exchange Derivatives
	The Company holds certain positions that are denominated in a foreign currency, whereby movements in foreign currency exchange rates may impact earnings if the United States dollar significantly strengthens or weakens against foreign currencies. In an effort to minimize the effects of these fluctuations on earnings, the Company will from time to time enter into foreign exchange options or foreign exchange forward contracts related to the assets denominated in a foreign currency. As of December 31, 2014 and 2013, the net contractual notional balance of our foreign exchange options and forward contract liabilities totaled $442.2 million and $190.5 million, respectively, the majority of which related to certain of our foreign currency denominated assets.
	Free-Standing Derivatives Income (Loss)
	The following table presents the amounts recorded in net realized and unrealized gain (loss) on derivatives and foreign exchange on the consolidated statements of operations for the eight months ended December 31, 2014 and four months ended April 30, 2014 (amounts in thousands):
			Successor Company											Predecessor Company
			Eight months ended											Four months ended
			December 31, 2014											April 30, 2014
			Realized			Unrealized								Realized			Unrealized
			gains			gains			Total					gains			gains			Total
			(losses)			(losses)								(losses)			(losses)
	Interest rate swaps		$	—		$	(6,890	)	$	(6,890	)			$	—		$	—		$	—
	Commodity swaps			(962	)		(698	)		(1,660	)				(2,515	)		(5,856	)		(8,371	)
	Credit default swaps(1)			—			—			—					(2,167	)		1,986			(181	)
	Foreign exchange forward contracts and options(2)			(6,609	)		(1,561	)		(8,170	)				(2,068	)		2,784			716
	Common stock warrants			1,237			(1,082	)		155					—			137			137
	Total rate of return swaps			(286	)		(184	)		(470	)				(2,349	)		284			(2,065	)
	Options			—			(1,472	)		(1,472	)				—			(19	)		(19	)
	Net realized and unrealized gains (losses)		$	(6,620	)	$	(11,887	)	$	(18,507	)			$	(9,099	)	$	(684	)	$	(9,783	)
	-1	Includes related income and expense on the derivatives.
	-2	Net of foreign exchange remeasurement gain or loss on foreign denominated assets.
	The following table presents the amounts recorded in net realized and unrealized gain (loss) on derivatives and foreign exchange on the consolidated statements of operations for the years ended December 31, 2013 and 2012 (amounts in thousands):
			Predecessor Company
			Year ended December 31, 2013									Year ended December 31, 2012
			Realized			Unrealized			Total			Realized			Unrealized			Total
			gains			gains						gains			gains
			(losses)(1)			(losses)						(losses)(1)			(losses)
	Commodity swaps		$	1,296		$	(5,562	)	$	(4,266	)	$	3,554		$	721		$	4,275
	Credit default swaps			(4,408	)		188			(4,220	)		(6,079	)		942			(5,137	)
Foreign exchange forward contracts and options(2)			1,104			(2,096	)		(992	)		(503	)		(2,544	)		(3,047	)
Common stock warrants			2,327			(1,503	)		824			691			986			1,677
Total rate of return swaps			1,803			(229	)		1,574			—			141			141
Options			(91	)		333			242			—			—			—
Net realized and unrealized gains (losses)		$	2,031		$	(8,869	)	$	(6,838	)	$	(2,337	)	$	246		$	(2,091	)
-1	Includes related income and expense on the derivatives.
-2	Net of foreign exchange remeasurement gain or loss on foreign denominated assets.
The Company is not subject to a master netting arrangement and the Company's derivative instruments are presented on a gross basis on its consolidated balance sheets.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2014
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES	NOTE 10. COMMITMENTS & CONTINGENCIES
	Commitments
	As part of its strategy of investing in corporate loans, the Company commits to purchase interests in primary market loan syndications, which obligate the Company, subject to certain conditions, to acquire a predetermined interest in such loans at a specified price on a to-be-determined settlement date. Consistent with standard industry practices, once the Company has been informed of the amount of its syndication allocation in a particular loan by the syndication agent, the Company bears the risks and benefits of changes in the fair value of the syndicated loan from that date forward. In addition, the Company also commits to purchase corporate loans in the secondary market that similar to the above, the Company bears the risks and benefits of changes in the fair value from the trade date forward. As of December 31, 2013, the Company had committed to purchase corporate loans with aggregate par amounts totaling $62.7 million. As described above in Note 2 to these consolidated financial statements, as of the Effective Date, the Company accounts for all corporate loans on trade date. As such, as of December 31, 2014, all corporate loans were included in the consolidated balance sheets. In addition, the Company participates in certain contingent financing arrangements, whereby the Company is committed to provide funding of up to a specific predetermined amount at the discretion of the borrower or has entered into an agreement to acquire interests in certain assets. As of December 31, 2014 and 2013, the Company had unfunded financing commitments for corporate loans totaling $9.5 million and $17.4 million, respectively. The Company did not have any significant losses as of December 31, 2014, nor does it expect any significant losses related to those assets for which it committed to purchase and fund.
	The Company participates in joint ventures and partnerships alongside KKR and its affiliates through which the Company contributes capital for assets, including development projects related to the Company's interests in joint ventures and partnerships that hold commercial real estate and natural resources investments, as well as specialty lending focused businesses. The Company estimated these future contributions to total approximately $162.0 million as of December 31, 2014 and $325.5 million as of December 31, 2013.
	Guarantees
	As of December 31, 2014 and 2013, the Company had investments, held alongside KKR and its affiliates, in real estate entities that were financed with non-recourse debt totaling $457.3 million and $231.7 million, respectively. Under non-recourse debt, the lender generally does not have recourse against any other assets owned by the borrower or any related parties of the borrower, except for certain specified exceptions listed in the respective loan documents including customary "bad boy" acts. In connection with these investments, joint and several non-recourse "bad boy" guarantees were provided for losses relating solely to specified bad faith acts that damage the value of the real estate being used as collateral. The Company does not expect any related losses. As of December 31, 2014 and 2013, the Company also had financial guarantees related to its natural resources investments totaling zero and $17.9 million, respectively, for which the Company did not expect any significant losses.
	Contingencies
	From time to time, the Company is involved in various legal proceedings, lawsuits and claims incidental to the conduct of the Company's business. The Company's business is also subject to extensive regulation, which may result in regulatory proceedings against it. It is inherently difficult to predict the ultimate outcome, particularly in cases in which claimants seek substantial or unspecified damages, or where investigations or proceedings are at an early stage and the Company cannot predict with certainty the loss or range of loss that may be incurred. The Company has denied, or believes it has a meritorious defense and will deny liability in the significant cases pending against the Company. Based on current discussion and consultation with counsel, management believes that the resolution of these matters will not have a material impact on the Company's condensed consolidated financial statements.
	From December 19, 2013 to January 31, 2014, multiple putative class action lawsuits were filed in the Superior Court of California, County of San Francisco, the United States District Court of the District of Northern California, and the Court of Chancery of the State of Delaware by KFN shareholders against KFN, individual members of KFN's board of directors, KKR & Co., and certain of KKR & Co.'s affiliates in connection with KFN's entry into a merger agreement pursuant to which it would become a subsidiary of KKR & Co. The merger transaction was completed on April 30, 2014. The actions filed in California state court were consolidated, and prior to the filing or designation of an operative complaint for the consolidated action, the consolidated action was voluntarily dismissed without prejudice on December 1, 2014. The complaint filed in the California federal court action, which was never served on the defendants, was voluntarily dismissed without prejudice on May 6, 2014. Two of the Delaware actions were voluntarily dismissed without prejudice, and the remaining Delaware actions were consolidated. On February 21, 2014, a consolidated complaint was filed in the consolidated Delaware action which all defendants moved to dismiss on March 7, 2014. On October 14, 2014, the Delaware Court of Chancery granted defendants' motions to dismiss with prejudice. On November 13, 2014, plaintiffs filed a notice of appeal in the Supreme Court of the State of Delaware and the appeal is currently pending.
	The consolidated complaint in the Delaware action alleges that the members of the KFN board of directors breached fiduciary duties owed to KFN shareholders by approving the proposed transaction for inadequate consideration; approving the proposed transaction in order to obtain benefits not equally shared by other KFN shareholders; entering into the merger agreement containing preclusive deal protection devices; and failing to take steps to maximize the value to be paid to the KFN shareholders. The Delaware action also alleges variously that KKR & Co., and certain of KKR & Co.'s affiliates aided and abetted the alleged breaches of fiduciary duties and that KKR & Co. is a controlling shareholder of KFN by means of a management agreement between KFN and KKR Financial Advisors LLC, and KKR & Co. breached a fiduciary duty it allegedly owed to KFN shareholders by causing KFN to enter into the merger agreement. The relief sought in the Delaware action includes, among other things, declaratory relief concerning the alleged breaches of fiduciary duties, compensatory damages, attorneys' fees and costs and other relief.

SHAREHOLDERS_EQUITY

SHAREHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2014
SHAREHOLDERS' EQUITY
SHAREHOLDERS' EQUITY	NOTE 11. SHAREHOLDERS' EQUITY
	Preferred Shares
	On January 17, 2013, the Company issued 14.95 million of Series A LLC Preferred Shares for gross proceeds of $373.8 million, and net proceeds of $362.0 million. The Series A LLC Preferred Shares trade on the NYSE under the ticker symbol "KFN.PR" and began trading on January 28, 2013. Distributions on the Series A LLC Preferred Shares are cumulative and are payable, when, as, and if declared by the Company's board of directors, quarterly on January 15, April 15, July 15 and October 15 of each year at a rate per annum equal to 7.375%.
	Common Shares
	Pursuant to the merger agreement, on the date of the Merger Transaction (i) each outstanding option to purchase a KFN common share was cancelled, as the exercise price per share applicable to all outstanding options exceeded the cash value of the number of KKR & Co. common units that a holder of one KFN common share is entitled to in the merger, (ii) each outstanding restricted KFN common share (other than those held by the Company's Manager) was converted into 0.51 KKR & Co. common units having the same terms and conditions as applied immediately prior to the effective time, and (iii) each phantom share under KFN's Non-Employee Directors' Deferred Compensation and Share Award Plan was converted into a phantom share in respect of 0.51 KKR & Co. common units and otherwise remains subject to the terms of the plan. On January 2, 2015, these phantom shares were converted to KKR & Co. common units and cash. In addition, on June 27, 2014, the Company's board of directors approved a reverse stock split whereby the number of the Company's issued and outstanding common shares was reduced to 100 common shares, all of which are held solely by the Parent. As such, disclosure related to common shares below pertains to the Predecessor Company.
	On May 4, 2007, the Company adopted an amended and restated share incentive plan (the "2007 Share Incentive Plan") that provides for the grant of qualified incentive common share options that meet the requirements of Section 422 of the Code, non-qualified common share options, share appreciation rights, restricted common shares and other share-based awards. Share options and other share-based awards may be granted to the Manager, directors, officers and any key employees of the Manager and to any other individual or entity performing services for the Company.
	The exercise price for any share option granted under the 2007 Share Incentive Plan may not be less than 100% of the fair market value of the common shares at the time the common share option is granted. Each option to acquire a common share must terminate no more than ten years from the date it is granted. As of April 30, 2014, the 2007 Share Incentive Plan authorized a total of 8,964,625 shares that could be used to satisfy awards under the 2007 Share Incentive Plan. No new awards are intended to be issued subsequent to the Effective Date.
	The following table summarizes the restricted common share transactions that occurred prior to the Merger Transaction:
		Manager			Directors			Total
	Unvested shares as of December 31, 2011		240,845			145,676			386,521
	Issued		258,303			43,557			301,860
	Vested		(60,211	)		(96,980	)		(157,191	)
	Unvested shares as of December 31, 2012		438,937			92,253			531,190
	Issued		292,009			39,288			331,297
	Vested		(146,312	)		(46,347	)		(192,659	)
	Unvested shares as of December 31, 2013		584,634			85,194			669,828
	Issued		—			—			—
	Vested and cancelled		(243,648	)		—			(243,648	)
	Unvested shares as of April 30, 2014		340,986			85,194			426,180
	The Company was required to value any unvested restricted common shares granted to the Manager at the current market price. The Company valued the unvested restricted common shares granted to the Manager at $11.54 per share at April 30, 2014. The Company valued the unvested restricted common shares granted to the Manager at $12.19 and $10.56 per share at December 31, 2013 and 2012, respectively. There were $2.2 million of total unrecognized compensation costs related to unvested restricted common shares granted as of April 30, 2014. As of December 31, 2013 and 2012, there were $3.4 million and $2.9 million, respectively, of total unrecognized compensation costs related to unvested restricted common shares granted. These costs were expected to be recognized through 2016.
	The following table summarizes common share option transactions:
		Number of			Weighted
		Options			Average
					Exercise Price
	Outstanding as of December 31, 2011		1,932,279		$	20.00
	Granted		—			—
	Exercised		—			—
	Forfeited		—			—
	Outstanding as of December 31, 2012		1,932,279		$	20.00
	Granted		—			—
	Exercised		—			—
	Forfeited		—			—
	Outstanding as of December 31, 2013		1,932,279		$	20.00
	Granted		—			—
	Exercised		—			—
	Forfeited		—			—
	Outstanding as of April 30, 2014		1,932,279		$	20.00
	As of April 30, 2014, December 31, 2013 and December 31, 2012, 1,932,279 common share options were fully vested and exercisable.
	For the four months ended April 30, 2014 and years ended December 31, 2013 and 2012, the components of share-based compensation expense were as follows (amounts in thousands):
		Predecessor Company
		For the			Year ended			Year ended
		four months			December 31,			December 31,
		ended			2013			2012
		April 30,
		2014
	Restricted shares granted to Manager	$	690		$	3,524		$	2,270
	Restricted shares granted to certain directors		328			1,035			932
	Total share-based compensation expense	$	1,018		$	4,559		$	3,202

MANAGEMENT_AGREEMENT_AND_RELAT

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2014
MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS
MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS	NOTE 12. MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS
	The Manager manages the Company's day-to-day operations, subject to the direction and oversight of the Company's board of directors. The Management Agreement expires on December 31 of each year, but is automatically renewed for a one-year term each December 31 unless terminated upon the affirmative vote of at least two-thirds of the Company's independent directors, or by a vote of the holders of a majority of the Company's outstanding common shares, based upon (1) unsatisfactory performance by the Manager that is materially detrimental to the Company or (2) a determination that the management fee payable by the Manager is not fair, subject to the Manager's right to prevent such a termination under this clause (2) by accepting a mutually acceptable reduction of management fees. The Manager must be provided 180 days prior notice of any such termination and will be paid a termination fee equal to four times the sum of the average annual base management fee and the average annual incentive fee for the two 12-month periods immediately preceding the date of termination, calculated as of the end of the most recently completed fiscal quarter prior to the date of termination.
	The Management Agreement contains certain provisions requiring the Company to indemnify the Manager with respect to all losses or damages arising from acts not constituting bad faith, willful misconduct, or gross negligence. The Company has evaluated the impact of these guarantees on its consolidated financial statements and determined that they are not material.
	The following table summarizes the components of related party management compensation on the Company's consolidated statements of operations, which are described in further detail below (amounts in thousands):
			Successor			Predecessor Company
			Company
			For the			For the
			eight months			four months			For the			For the
			ended			ended			year ended			year ended
			December 31,			April 30,			December 31,			December 31,
			2014			2014			2013			2012
	Base management fees, net		$	15,145		$	5,253		$	25,029		$	28,244
	CLO management fees			18,619			11,016			17,282			4,237
	Incentive fees			—			12,882			22,741			37,588
	Manager share-based compensation			—			690			3,524			2,270
	Total related party management compensation		$	33,764		$	29,841		$	68,576		$	72,339
	Base Management Fees
	The Company pays its Manager a base management fee quarterly in arrears. During 2014 and 2013, certain related party fees received by affiliates of the Manager were credited to the Company via an offset to the base management fee ("Fee Credits"). Specifically, as described in further detail under "CLO Management Fees" below, a portion of the CLO management fees received by an affiliate of the Manager for certain of the Company's CLOs were credited to the Company via an offset to the base management fee.
	In addition, during 2014 and 2013, the Company invested in a transaction that generated placement fees paid to a minority-owned affiliate of KKR. In connection with this transaction, the Manager agreed to reduce the Company's base management fee payable to the Manager for the portion of these placement fees that were earned by KKR as a result of this minority-ownership. Separately, certain third-party expenses accrued and paid by the Company in the fourth quarter of 2013 in connection with the merger with KKR & Co. were used to reduce the Company's base management fees payable to the Manager in an amount equal to such third-party expenses.
	The table below summarizes the aggregate base management fees (amounts in thousands):
			Successor			Predecessor Company
			Company
			For the			For the
			eight months			four months			For the			For the
			ended			ended			year ended			year ended
			December 31,			April 30,			December 31,			December 31,
			2014			2014			2013			2012
	Base management fees, gross		$	25,883		$	13,364		$	39,065		$	28,244
	CLO management fees credit(1)			(9,968	)		(8,111	)		(10,042	)		—
	Other related party fees credit			(770	)		—			(3,994	)		—
	Total base management fees, net		$	15,145		$	5,253		$	25,029		$	28,244
	-1	See "CLO Management Fees" for further discussion.
	The Manager waived base management fees related to the $230.4 million common share offering and $270.0 million common share rights offering that occurred during the third quarter of 2007 until such time as the Company's common share closing price on the NYSE was $20.00 or more for five consecutive trading days. Accordingly, the Manager permanently waived approximately $2.9 million during the four months ended April 30, 2014, and $8.8 million of base management fees during each of the years ended December 31, 2013 and 2012.
	CLO Management Fees
	An affiliate of the Manager entered into separate management agreements with the respective investment vehicles for all of the Company's Cash Flow CLOs pursuant to which it is entitled to receive fees for the services it performs as collateral manager for all of these CLOs, except for CLO 2011-1. The collateral manager has the option to waive the fees it earns for providing management services for the CLO.
	Fees Waived
	The collateral manager waived CLO management fees totaling $4.2 million for CLO 2005-2 and CLO 2006-1 during the eight months ended December 31, 2014 and $1.6 million during the four months ended April 30, 2014. During the year ended December 31, 2013, the collateral manager waived CLO management fees totaling $19.7 million for all CLOs, except for CLO 2005- 1 and CLO 2012-1, and for partial periods for CLO 2007-1 and CLO 2007-A. During the year ended December 31, 2012, the collateral manager waived CLO management fees totaling $32.2 million for all CLOs, except for CLO 2005-1 and CLO 2012-1.
	Fees Charged and Fee Credits
	The Company recorded management fees expense for CLO 2005-1, CLO 2007-1, CLO 2007-A, CLO 2012-1, CLO 2013-1 and CLO 2013-2 during the eight months ended December 31, 2014 and four months ended April 30, 2014. The Company recorded management fees expense for CLO 2005-1, CLO 2007-1, CLO 2007-A and CLO 2012-1 during the year ended December 31, 2013. The Company recorded management fees expense for CLO 2005-1 and CLO 2012-1 during the year ended December 31, 2012.
	Beginning in June 2013, the Manager credited the Company for a portion of the CLO management fees received by an affiliate of the Manager from CLO 2007-1, CLO 2007-A and CLO 2012-1 via an offset to the base management fees payable to the Manager. As the Company owns less than 100% of the subordinated notes of these three CLOs (with the remaining subordinated notes held by third parties), the Company received a Fee Credit equal only to the Company's pro rata share of the aggregate CLO management fees paid by these CLOs. Specifically, the amount of the reimbursement for each of these CLOs was calculated by taking the product of (x) the total CLO management fees received by an affiliate of the Manager during the period for such CLO multiplied by (y) the percentage of the subordinated notes of such CLO held by the Company. The remaining portion of the CLO management fees paid by each of these CLOs was not credited to the Company, but instead resulted in a dollar-for-dollar reduction in the interest expense paid by the Company to the third party holder of the CLO's subordinated notes. Similarly, the Manager credited the Company the CLO management fees from CLO 2013-1 and CLO 2013-2 based on the Company's 100% ownership of the subordinated notes in the CLO.
	The table below summarizes the aggregate CLO management fees, including the Fee Credits (amounts in thousands):
			Successor			Predecessor Company
			Company
			For the			For the
			eight months			four months			For the			For the
			ended			ended			year ended			year ended
			December 31,			April 30,			December 31,			December 31,
			2014			2014			2013			2012
	Charged and retained CLO management fees(1)		$	8,651		$	2,905		$	7,240		$	4,237
	CLO management fees credit			9,968			8,111			10,042			—
	Total CLO management fees		$	18,619		$	11,016		$	17,282		$	4,237
	-1	Represents management fees incurred by the senior and subordinated note holders of a CLO, excluding the Fee Credits received by the Company based on its ownership percentage in the CLO.
	Subordinated note holders in CLOs have the first risk of loss and conversely, the residual value upside of the transactions. When CLO management fees are paid by a CLO, the residual economic interests in the CLO transaction are reduced by an amount commensurate with the CLO management fees paid. The Company records any residual proceeds due to subordinated note holders as interest expense on the consolidated statements of operations. Accordingly, the increase in CLO management fees is directly offset by a decrease in interest expense.
	Incentive Fees
	The Manager earned incentive fees totaling zero for the eight months ended December 31, 2014 and $12.9 million for the four months ended April 30, 2014. Incentive fees of $22.7 million and $37.6 million were earned by the Manager during the years ended December 31, 2013 and 2012, respectively.
	Manager Share-Based Compensation
	The Company recognized share-based compensation expense related to restricted common shares granted to the Manager of $0.7 million for the four months ended April 30, 2014. In addition, the Company recognized share-based compensation expense related to restricted common shares granted to the Manager of $3.5 million and $2.3 million for the years ended December 31, 2013 and 2012, respectively. Refer to Note 11 to these consolidated financial statements for further discussion on share-based compensation.
	Reimbursable General and Administrative Expenses
	Certain general and administrative expenses are incurred by the Company's Manager on its behalf that are reimbursable to the Manager pursuant to the Management Agreement. The Company incurred reimbursable general and administrative expenses to its Manager totaling $3.0 million for the eight months ended December 31, 2014 and $2.8 million for the four months ended April 30, 2014. The Company incurred reimbursable general and administrative expenses to its Manager of $9.8 million and $10.2 million for the years ended December 31, 2013 and 2012, respectively. Expenses incurred by the Manager and reimbursed by the Company are reflected in general, administrative and directors' expenses on the consolidated statements of operations.
	Contributions and Distributions
	During the eight months ended December 31, 2014, certain assets and cash were contributed from and distributed to the Parent. The table below summarizes the estimated fair value of certain contributions and distributions at the time of transfer, which may differ from the carrying value of assets transferred (amounts in thousands):
			Eight months
			ended
			December 31,
2014
Cash		$	235,759
Securities			116,526
Loans			16,049
Equity investments, at estimated fair value			38,346
Interests in joint ventures and partnerships			67,310
Other			854
Total contributions from Parent		$	474,844
Cash		$	192,037
Equity investments, at estimated fair value			101,042
Oil and gas properties, net			179,203
Total distributions to Parent		$	472,282
Affiliated Investments
The Company has invested in corporate loans, debt securities and other investments of entities that are affiliates of KKR. As of December 31, 2014, the aggregate par amount of these affiliated investments totaled $1.7 billion, or approximately 20% of the total investment portfolio, and consisted of 19 issuers. The total $1.7 billion in affiliated investments was comprised of $1.6 billion of corporate loans, $9.5 million of corporate debt securities and $13.6 million of equity investments, at estimated fair value. As of December 31, 2013, the aggregate par amount of these affiliated investments totaled $2.1 billion, or approximately 27% of the total investment portfolio, and consisted of 28 issuers. The total $2.1 billion in affiliated investments was comprised of $1.9 billion of corporate loans, $52.8 million of corporate debt securities and $84.5 million of equity investments, at estimated fair value.
In addition, the Company has invested in certain joint ventures and partnerships alongside KKR and its affiliates. As of December 31, 2014, the estimated fair value of these interests in joint ventures and partnerships totaled $618.6 million. As of December 31, 2013, the aggregate cost amount of these interests in joint ventures and partnerships totaled $400.3 million.

INCOME_TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2014
INCOME TAXES
INCOME TAXES	NOTE 13. INCOME TAXES
	The Company intends to continue to operate so as to qualify, for United States federal income tax purposes, as a partnership, and not as an association or publicly traded partnership taxable as a corporation. As such, the Company generally is not subject to United States federal income tax at the entity level, but is subject to limited state and foreign taxes.
	The Company owns both REIT and domestic taxable corporate subsidiaries. The Company's REIT subsidiaries are not expected to incur federal tax expense, but are subject to limited state income tax expense related to the 2014 tax year. The domestic taxable corporate subsidiaries taxed as regular corporations under the Code are expected to incur federal and state tax expense related to the 2014 tax year. The income tax expense (benefit) for the four months ended April 30, 2014, eight months ended December 31, 2014 and years ended December 31, 2013 and 2012 consisted of the following components (amounts in thousands):
		Successor Company					Predecessor Company
		Eight months					Four months			Year ended			Year ended
		ended					ended			December 31, 2013			December 31, 2012
		December 31, 2014					April 30, 2014
	Current:
	Federal income tax	$	(63	)			$	(4,304	)	$	2,988		$	3,514
	State income tax		126					137			480			759
	Total		63					(4,167	)		3,468			4,273
	Deferred:
	Federal income tax		343					4,329			(3,001	)		(6,221	)
	State income tax		78					—			—			(1,519	)
	Total		421					4,329			(3,001	)		(7,740	)
	Total income tax expense (benefit)	$	484				$	162		$	467		$	(3,467	)
	The tax provision for domestic taxable corporate subsidiaries taxed as regular corporations was based on a combined federal and state income tax rate of 39.81% at December 31, 2014, 41.50% at December 31, 2013 and 39.55% at December 31, 2012. The tax rate is equivalent to the combined federal statutory income tax rate and the state statutory income tax rate, net of federal benefit.
	The following table presents a reconciliation of income before taxes at the statutory rate to the effective tax expense (benefit) for the eight months ended December 31, 2014, four months ended April 30, 2014, and each of the years ended December 31, 2013 and 2012 (amounts in thousands):
		Successor Company					Predecessor Company
		Eight months					Four months			Year ended			Year ended
		ended					ended			December 31, 2013			December 31, 2012
		December 31, 2014					April 30, 2014
	Income before taxes at statutory rate	$	(76,561	)			$	37,150		$	102,794		$	120,667
	Income passed through to shareholders		83,098					(34,377	)		(93,260	)		(118,983	)
	REIT income not subject to tax		(6,072	)				(2,773	)		(9,141	)		(4,681	)
	State and local income taxes, net of federal benefit		82					88			(464	)		(414	)
	Withholding taxes		21					25			172			72
	Other		(84	)				49			366			(128	)
	Effective tax expense (benefit)	$	484				$	162		$	467		$	(3,467	)
	Deferred tax assets are recognized if, in management's judgment, their realizability is determined to be more likely than not. If a deferred tax asset is determined to be unrealizable, a valuation allowance is established. The significant components of deferred tax assets and liabilities are reflected in the following table as of December 31, 2014 and 2013 (amounts in thousands):
		As of			As of
		December 31, 2014			December 31, 2013
	Deferred tax assets:
	Unrealized losses from investments in domestic corporate subsidiaries	$	—		$	4,329
	Total deferred tax assets					4,329
	Deferred tax liabilities:
	Unrealized gains from investments in domestic corporate subsidiaries	$	421			—
	Total deferred tax liabilities		421			—
	Net deferred tax assets (liabilities)	$	(421	)	$	4,329

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2014
FAIR VALUE OF FINANCIAL INSTRUMENTS
FAIR VALUE OF FINANCIAL INSTRUMENTS	NOTE 14. FAIR VALUE OF FINANCIAL INSTRUMENTS
	Financial Instruments Not Carried at Estimated Fair Value
	As described above in Note 2 to these consolidated financial statements, as of the Effective Date, the Successor Company accounts for its investments, as well as its collateralized loan obligation secured notes at estimated fair value. Comparatively, the Predecessor Company accounted for certain of its corporate loans and its collateralized loan obligation secured notes at amortized cost.
	The following table presents the carrying value and estimated fair value, as well as the respective hierarchy classifications, of the Company's financial assets and liabilities that are not carried at estimated fair value on a recurring basis as of December 31, 2014 (amounts in thousands):
			Successor Company
			As of						Fair Value Hierarchy
			December 31, 2014						Quoted Prices in			Significant			Significant
									Active Markets			Other			Unobservable
									for Identical			Observable			Inputs
			Carrying			Estimated			Assets (Level 1)			Inputs (Level 2)			(Level 3)
			Amount			Fair Value
	Assets:
	Cash, restricted cash, and cash equivalents		$	610,912		$	610,912		$	610,912		$	—		$	—
	Liabilities:
	Senior notes			414,524			413,215			413,215			—			—
	Junior subordinated notes			246,907			228,087			—			—			228,087
	The following table presents the carrying value and estimated fair value, as well as the respective hierarchy classifications, of the Company's financial assets and liabilities that are not carried at estimated fair value on a recurring basis as of December 31, 2013 (amounts in thousands):
			Predecessor Company
			As of						Fair Value Hierarchy
			December 31, 2013						Quoted Prices in			Significant			Significant
									Active Markets			Other			Unobservable
									for Identical			Observable			Inputs
			Carrying			Estimated			Assets (Level 1)			Inputs (Level 2)			(Level 3)
			Amount			Fair Value
	Assets:
	Cash, restricted cash, and cash equivalents		$	507,552		$	507,552		$	507,552		$	—		$	—
	Corporate loans, net of allowance for loan losses of $224,999 as of December 31, 2013(1)			5,949,492			6,051,641			—			5,691,988			359,653
	Corporate loans held for sale(1)			279,748			281,278			—			267,169			14,109
	Private equity investments, at cost(2)			405			4,496			—			—			4,496
	Other assets			5,763			5,513			—			5,513			—
	Liabilities:
	Collateralized loan obligation secured debt		$	5,249,383		$	5,179,207		$	—		$	—		$	5,179,207
	Credit facilities			125,289			125,289			—			—			125,289
	Senior notes			362,276			393,772			393,772			—			—
	Junior subordinated notes			283,517			247,416			—			—			247,416
	-1	Corporate loans held for investment are carried at amortized cost net of allowance for loan losses, while corporate loans held for sale are carried at the lower of cost or estimated fair value. Refer to "Fair Value Measurements" for a table presenting the corporate loans which are measured at fair value on a non-recurring basis.
	-2	Included within other assets on the consolidated balance sheets.
	Fair Value Measurements
	The following table presents information about the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (amounts in thousands):
			Successor Company
			Quoted Prices in			Significant			Significant			Balance as of
			Active Markets			Other			Unobservable			December 31,
			for Identical			Observable			Inputs			2014
			Assets (Level 1)			Inputs (Level 2)			(Level 3)
	Assets:
	Securities:
	Corporate debt securities		$	—		$	266,387		$	317,034		$	583,421
	Residential mortgage-backed securities			—			—			55,184			55,184
	Total securities			—			266,387			372,218			638,605
	Corporate loans			—			6,159,487			347,077			6,506,564
	Equity investments, at estimated fair value			25,692			73,967			81,719			181,378
	Interests in joint ventures and partnerships			—			—			718,772			718,772
	Other assets			—			4,645			—			4,645
	Derivatives:
	Foreign exchange forward contracts			—			28,354			—			28,354
	Options			—			—			5,212			5,212
	Total derivatives			—			28,354			5,212			33,566
	Total		$	25,692		$	6,532,840		$	1,524,998		$	8,083,530
	Liabilities:
	Collateralized loan obligation secured notes		$	—		$	—		$	5,501,099		$	5,501,099
	Derivatives:
	Interest rate swaps			—			54,071			—			54,071
	Foreign exchange forward contracts			—			926			—			926
	Total rate of return swaps			—			130			—			130
Total derivatives			—			55,127			—			55,127
Total		$	—		$	55,127		$	5,501,099		$	5,556,226
The following table presents information about the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2013, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (amounts in thousands):
		Predecessor Company
		Quoted Prices in			Significant			Significant			Balance as of
		Active Markets			Other			Unobservable			December 31,
		for Identical			Observable			Inputs			2013
		Assets (Level 1)			Inputs (Level 2)			(Level 3)
Assets:
Securities:
Securities available-for-sale		$	—		$	326,940		$	23,401		$	350,341
Other securities, at estimated fair value			—			39,437			107,530			146,967
Residential mortgage-backed securities			—			—			76,004			76,004
Total securities			—			366,377			206,935			573,312
Corporate loans, at estimated fair value			—			84,680			152,800			237,480
Equity investments, at estimated fair value			39,515			3,638			138,059			181,212
Interests in joint ventures and partnerships			14,836			—			415,247			430,083
Derivatives:
Interest rate swaps			—			3,290			—			3,290
Commodity swaps			—			5,408			—			5,408
Foreign exchange forward contracts			—			4,846			—			4,846
Foreign exchange options			—			—			8,941			8,941
Common stock warrants			—			945			—			945
Options			—			—			6,794			6,794
Total derivatives			—			14,489			15,735			30,224
Total		$	54,351		$	469,184		$	928,776		$	1,452,311
Liabilities:
Derivatives:
Interest rate swaps			—			45,368			—			45,368
Commodity swaps			—			3,915			—			3,915
Credit default swaps—protection purchased			—			2,019			—			2,019
Foreign exchange forward contracts			—			30,104			—			30,104
Total rate of return swaps			—			229			—			229
Total derivatives			—			81,635			—			81,635
Total		$	—		$	81,635		$	—		$	81,635
The following table presents information about the Company's assets measured at fair value on a non-recurring basis as of December 31, 2013, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (amounts in thousands). There were no liabilities measured at fair value on a non-recurring basis:
		Quoted Prices in			Significant Other			Significant			Balance as of
		Active Markets			Observable			Unobservable			December 31,
		for Identical			Inputs (Level 2)			Inputs (Level 3)			2013
		Assets (Level 1)
Corporate loans held for sale(1)		$	—		$	90,485		$	5,568		$	96,053
Total		$	—		$	90,485		$	5,568		$	96,053
-1	As of December 31, 2013, total loans held for sale had a carrying value of $279.7 million of which $96.1 million was carried at estimated fair value and the remaining $183.6 million carried at amortized cost.
Whenever events or changes in circumstances indicate that the carrying amounts of the Company's oil and gas properties may not be recoverable, the Company evaluates its proved oil and natural gas properties and related equipment and facilities for impairment on a field-by-field basis. For the year ended December 31, 2013, the Company recorded impairment charges totaling $10.4 million to write down certain of its oil and natural gas properties with a carrying amount of $16.1 million to an estimated fair value of $5.7 million.
Level 3 Fair Value Rollforward
The following table presents additional information about assets and liabilities, including derivatives, that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value, for the eight months ended December 31, 2014 (amounts in thousands):
		Successor Company
		Assets																					Liabilities
		Corporate			Residential			Corporate			Equity			Interests in			Foreign			Options			Collateralized
		Debt			Mortgage-			Loans			Investments,			Joint			Exchange						Loan
		Securities			Backed						at Estimated			Ventures and			Options,						Obligation
					Securities						Fair Value			Partnerships			Net						Secured Notes
Beginning balance as of May 1, 2014		$	156,500		$	59,623		$	294,218		$	157,765		$	472,467		$	8,854		$	6,684		$	5,663,665
Total gains or losses (for the period):
Included in earnings(1)			(16,973	)		4,981			(15,346	)		(2,005	)		(102,158	)		(8,854	)		(1,472	)		(4,123	)
Transfers into Level 3(2)			—			—			66,250			—			—			—			—			—
Transfers out of Level 3(3)			—			—			—			(1,230	)		—			—			—			—
Purchases			83,402			—			2,588			—			90,566			—			—			885,983
Sales			(26,433	)		—			(2,912	)		(17,535	)		(13,795	)		—			—			—
Settlements			120,538			(9,420	)		2,279			(55,276	)		271,692			—			—			(1,044,426	)
Ending balance as of December 31, 2014		$	317,034		$	55,184		$	347,077		$	81,719		$	718,772		$	—		$	5,212		$	5,501,099
Change in unrealized gains or losses for the eight months ended December 31, 2014 included in earnings for assets held at the end of the reporting period(1)		$	(16,787	)	$	386		$	(15,305	)	$	(791	)	$	(106,215	)	$	—		$	(1,472	)	$	(4,393	)
-1	Amounts are included in net realized and unrealized gain (loss) on investments or net realized and unrealized gain (loss) on derivatives and foreign exchange in the consolidated statements of operations. Amounts for collateralized loan obligation secured notes, which represent liabilities measured at fair value, are included in net realized and unrealized gain (loss) on debt in the consolidated statements of operations.
-2	Corporate loans were transferred into Level 3 because observable market data was no longer available.
-3	Equity investments, at estimated fair value were transferred out of Level 3 because observable market data became available.
Certain interests in joint ventures and partnerships were transferred from Level 1 to Level 2 during the eight months ended December 31, 2014 due to illiquid market conditions.
The following table presents additional information about assets, including derivatives, that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value, for the four months ended April 30, 2014 (amounts in thousands):
		Predecessor Company
		Securities			Other			Residential			Corporate			Equity			Interests in			Foreign			Options
		Available-			Securities,			Mortgage-			Loans, at			Investments,			Joint			Exchange
		For-Sale			at Estimated			Backed			Estimated			at Estimated			Ventures and			Options,
					Fair Value			Securities			Fair Value			Fair Value			Partnerships			Net
Beginning balance as of January 1, 2014		$	23,401		$	107,530		$	76,004		$	152,800		$	138,059		$	415,247		$	8,941		$	6,794
Total gains or losses (for the period):
Included in earnings(1)			22			3,059			3,088			(5,123	)		9,076			22,377			(813	)		(302	)
Included in other comprehensive income			121			—			—			—			—			—			—			—
Transfers into Level 3			—			—			—			—			—			—			—			—
Transfers out of Level 3(3)			—			—			—			—			(8,751	)		—			—			—
Purchases			—			25,000			—			8,822			—			42,683			—			—
Sales			—			—			(17,810	)		—			—			—			—			—
Settlements			(16	)		(10,078	)		(2,529	)		(3,104	)		120,593			14,113			—			—
Ending balance as of March 31, 2014			23,528			125,511			58,753			153,395			258,977			494,420			8,128			6,492
Total gains or losses (for the period):
Included in earnings(1)			44			479			1,416			1,240			12,126			(24,158	)		726			192
Included in other comprehensive income			33			—			—			—			—			—			—			—
Transfers into Level 3(2)			6,937			—			—			—			—			—			—			—
Transfers out of Level 3(3)			—			—			—			—			(119,033	)		—			—			—
Purchases			—			—			—			—			—			1,615			—			—
Sales			—			—			—			—			—			—			—			—
Settlements			(32	)		—			(546	)		2,272			—			(1,184	)		—			—
Ending balance as of April 30, 2014		$	30,510		$	125,990		$	59,623		$	156,907		$	152,070		$	470,693		$	8,854		$	6,684
Change in unrealized gains or losses for the period included in earnings for the four months ended April 30, 2014 for assets held at the end of the reporting period(1)		$	66		$	2,683		$	5,242		$	4,445		$	20,499		$	(1,781	)	$	(87	)	$	(110	)
-1	Amounts are included in net realized and unrealized gain (loss) on investments or net realized and unrealized gain (loss) on derivatives and foreign exchange in the consolidated statements of operations.
-2	Securities available-for-sale were transferred into Level 3 because observable market data was no longer available as a result of an asset-restructure.
-3	Equity investments, at estimated fair value were transferred out of Level 3 because observable market data became available as a result of asset-restructures.
There were no transfers between Level 1 and Level 2 during the four months ended April 30, 2014.
The following table presents additional information about assets, including derivatives that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value, for the year ended December 31, 2013 (amounts in thousands):
		Securities			Other			Residential			Corporate			Equity			Interests in			Foreign			Common			Options
		Available-			Securities,			Mortgage-			Loans, at			Investments,			Joint			Exchange			Stock
		For-Sale:			at Estimated			Backed			Estimated			at Estimated			Ventures and			Options,			Warrants
		Corporate			Fair Value			Securities			Fair Value			Fair Value			Partnerships			Net
		Debt
		Securities
Beginning balance as of January 1, 2013		$	42,221		$	2,909		$	83,842		$	16,141		$	97,746		$	142,477		$	8,277		$	1,574		$	—
Total gains or losses (for the period):
Included in earnings(1)			1,729			3,485			7,711			8,996			10,555			21,926			664			167			211
Included in other comprehensive loss			(1,808	)		—			—			—			—			—			—			—			—
Transfers out of Level 3(2)			—			—			—			—			—			—			—			(945	)		—
Purchases			4,613			103,616			—			123,409			30,113			299,039			—			—			8,787
Sales			—			—			—			—			(198	)		—			—			—			—
Settlements			(23,354	)		(2,480	)		(15,549	)		4,254			(157	)		(48,195	)		—			(796	)		(2,204	)
Ending balance as of December 31, 2013		$	23,401		$	107,530		$	76,004		$	152,800		$	138,059		$	415,247		$	8,941		$	—		$	6,794
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)		$	74		$	3,485		$	21,796		$	8,700		$	10,854		$	21,926		$	954		$	—		$	211
-1	Amounts are included in net realized and unrealized gain (loss) on investments or net realized and unrealized gain (loss) on derivatives and foreign exchange in the consolidated statements of operations.
-2	There were no transfers into Level 3. Common stock warrants were transferred out of Level 3 to Level 2 because observable market data became available. The Company's policy is to recognize transfers into and out of Level 3 at the end of the reporting period.
Valuation Techniques and Inputs for Level 3 Fair Value Measurements
The following table presents additional information about valuation techniques and inputs used for assets and liabilities, including derivatives, that are measured at fair value and categorized within Level 3 as of December 31, 2014 (dollar amounts in thousands):
Successor Company
		Balance as of			Valuation		Unobservable		Weighted		Range		Impact to
		December 31,			Techniques(1)		Inputs(2)		Average(3)				Valuation
		2014											from an
													Increase in
													Input(4)
Assets:
Corporate debt securities		$	317,034		Yield analysis		Yield		17%		3% - 19%		Decrease
							Net leverage		6x		5x - 12x		Decrease
							EBITDA multiple		7x		4x - 11x		Increase
							Discount margin		905bps		625bps - 1100bps		Decrease
					Broker quotes		Offered quotes		101		101		Increase
Residential mortgage—backed		$	55,184		Discounted cash flows		Probability of default		8%		0% - 21%		Decrease
securities							Loss severity		26%		12% - 45%		Decrease
							Constant prepayment rate		12%		4% - 19%		-5
Corporate loans		$	347,077		Yield Analysis		Yield		12%		3% - 21%		Decrease
							Net leverage		6x		1x - 13x		Decrease
							EBITDA multiple		9x		5x - 12x		Increase
Equity investments, at estimated fair value(6)		$	81,719		Inputs to both market comparables and		Weight ascribed to market comparables		97%		0% - 100%		-7
					discounted cash flow		Weight ascribed to		83%		0% - 100%		-8
							discounted cash flows
					Market comparables		LTM EBITDA multiple		4x		1x - 12x		Increase
							Forward EBITDA multiple		7x		4x - 11x		Increase
					Discounted cash flows		Weighted average cost of capital		13%		9% - 16%		Decrease
							LTM EBITDA exit multiple		8x		5x - 10x		Increase
Interests in joint ventures and partnerships(9)		$	718,772		Inputs to both market comparables and		Weight ascribed to market comparables		54%		0% - 100%		-7
					discounted cash flow		Weight ascribed to		79%		0% - 100%		-8
							discounted cash flows
					Market comparables		Current capitalization rate		7%		4% - 15%		Decrease
							LTM EBITDA multiple		11x		10x - 13x		Increase
							Control Premium		15%		15%		Increase
					Discounted cash flows		Weighted average cost of capital		12%		7% - 20%		Decrease
							Average price per BOE(10)		$30.16		$21.46 - $35.67		Increase
Options(11)		$	5,212		Inputs to both market comparables and		Weight ascribed to market comparables		50%		50%		-7
					discounted cash flow		Weight ascribed to		50%		50%		-8
							discounted cash flows
					Market comparables		LTM EBITDA multiple		9x		9x		Increase
					Discounted cash flows		Weighted average cost of capital		14%		14%		Decrease
							LTM EBITDA exit multiple		11x		11x		Increase
Liabilities:
Collateralized loan obligation secured notes		$	5,501,099		Yield analysis		Discount margin		255bps		95bps - 1000bps		Decrease
					Discounted cash flows		Probability of default		3%		2% - 3%		Decrease
							Loss severity		32%		30% - 37%		Decrease
-1	For the assets that have more than one valuation technique, the Company may rely on the techniques individually or in aggregate based on a weight ascribed to each one ranging from 0-100%. When determining the weighting ascribed to each valuation methodology, the Company considers, among other factors, the availability of direct market comparables, the applicability of a discounted cash flow analysis and the expected hold period and manner of realization for the investment. These factors can result in different weightings among the investments and in certain instances, may result in up to a 100% weighting to a single methodology. Broker quotes obtained for valuation purposes are reviewed by the Company through other valuation techniques.
-2	In determining certain of these inputs, management evaluates a variety of factors including economic conditions, industry and market developments; market valuations of comparable companies; and company specific developments including exit strategies and realization opportunities.
-3	Weighted average amounts are based on the estimated fair values.
-4	Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.
-5	The impact of changes in prepayment speeds may have differing impacts depending on the seniority of the instrument. Generally, an increase in the constant prepayment speed will positively impact the overall valuation of traditional mortgage assets. In contrast, an increase in the constant prepayment rate will negatively impact the overall valuation of interest-only strips.
-6	When determining the illiquidity discount to be applied to equity investments, at estimated fair value, the Company seeks to take a uniform approach across its portfolio and generally applies a minimum 5% discount to all private equity investments carried at estimated fair value. The Company then evaluates such investments to determine if factors exist that could make it more challenging to monetize the investment and, therefore, justify applying a higher illiquidity discount. These factors generally include the salability of the investment, whether the issuer is undergoing significant restructuring activity or similar factors, as well as characteristics about the issuer including its size and/or whether it is experiencing, or expected to experience, a significant decline in earnings. Depending on the applicability of these factors, the Company determines the amount of any incremental illiquidity discount to be applied above the 5% minimum, and during the time the Company holds the investment, the illiquidity discount may be increased or decreased, from time to time, based on changes to these factors. The amount of illiquidity discount applied at any time requires considerable judgment about what a market participant would consider and is based on the facts and circumstances of each individual investment. Accordingly, the illiquidity discount ultimately considered by a market participant upon the realization of any investment may be higher or lower than that estimated by the Company in its valuations. Of the $81.7 million, $9.5 million was valued solely using a discounted cash flow technique, while $67.4 million was valued solely using a market comparables technique.
-7	The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level 3 investments if the market comparables approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach.
-8	The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level 3 investments if the discounted cash flow approach results in a higher valuation than the market comparables approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach.
-9	Inputs exclude an asset that was valued using an independent third party valuation firm. Of the $718.8 million, $207.6 million was valued solely using a discounted cash flow technique, while $20.4 million was valued solely using a market comparables technique.
-10	Natural resources assets with an estimated fair value of $176.4 million as of December 31, 2014 were valued using commodity prices. Commodity prices may be measured using a common volumetric equivalent where one barrel of oil equivalent ("BOE") is determined using the ratio of six thousand cubic feet of natural gas to one barrel of oil, condensate or natural gas liquids. The price per BOE is provided to show the aggregate of all price inputs for these investments over a common volumetric equivalent although the valuations for specific investments may use price inputs specific to the asset for purposes of our valuations. The discounted cash flows include forecasted production of liquids (oil, condensate, and natural gas liquids) and natural gas with a forecasted revenue ratio of approximately 23% liquids and 77% natural gas.
-11	The entire $5.2 million was valued using 50% a discount cash flow technique and 50% a market comparables technique.
The following table presents additional information about valuation techniques and inputs used for assets, including derivatives, that are measured at fair value and categorized within Level 3 as of December 31, 2013 (dollar amounts in thousands):
		Balance as of			Valuation		Unobservable		Weighted		Range		Impact to
		December 31,			Techniques(1)		Inputs(2)		Average(3)				Valuation
		2013											from an
													Increase in
													Input(4)
Assets:
Securities available-for-sale:		$	23,401		Yield Analysis		Yield		10%		6% - 12%		Decrease
Corporate debt securities							Net leverage		12x		11x - 12x		Decrease
							EBITDA multiple		8x		8x - 9x		Increase
					Broker quotes		Offered quotes		105		104 - 105		Increase
Other securities, at estimated fair value		$	107,530		Yield Analysis		Yield		12%		7% - 17%		Decrease
							EBITDA multiple		8x		7x - 8x		Increase
							Illiquidity discount		3%		3%		Decrease
							Net leverage		1x		1x - 2x		Decrease
					Broker quotes		Offered quotes		102		101 - 102		Increase
Residential mortgage-backed securities		$	76,004		Discounted cash flows		Probability of default		7%		0% - 21%		Decrease
							Loss severity		28%		16% - 77%		Decrease
							Constant prepayment rate		15%		3% - 35%		-5
Corporate loans, at estimated fair value		$	152,800		Yield Analysis		Yield		16%		14% - 23%		Decrease
							Net leverage		7x		4x - 12x		Decrease
							EBITDA multiple		8x		6x - 11x		Increase
Equity investments, at estimated fair value(6)		$	138,059		Inputs to both		Weight ascribed to market		50%		33% - 100%		-7
					market		comparables
					comparables and		Weight ascribed to		59%		50% - 100%		-8
					discounted cash		discounted cash flows
					flow
					Market comparables		LTM EBITDA multiple		12x		6x - 16x		Increase
							Forward EBITDA multiple		12x		10x - 14x		Increase
					Discounted cash flows		Weighted average cost of capital		11%		8% - 14%		Decrease
							LTM EBITDA exit multiple		10x		4x - 11x		Increase
Interests in joint ventures and partnerships		$	415,247		Inputs to both		Weight ascribed to market		50%		50% - 100%		-7
					market		comparables
					comparables and		Weight ascribed to		50%		50% - 100%		-8
					discounted cash		discounted cash flows
					flow
					Market		Current capitalization rate		7%		6% - 9%		Decrease
					comparables		LTM EBITDA		9x		9x		Increase
					Discounted cash flows		Weighted average cost of capital		12%		8% - 24%		Decrease
Foreign exchange options		$	8,941		Option pricing model		Forward and spot rates		1		0 - 1		-9
Options		$	6,794		Inputs to both		Weight ascribed to market		50%		50%		-7
					market		comparables
					comparables and		Weight ascribed to		50%		50%		-8
					discounted cash		discounted cash flows
					flow
					Market comparables		LTM EBITDA		9x		9x		Increase
					Discounted cash flows		Weighted average cost of capital		12%		12%		Decrease
							LTM EBITDA exit multiple		10x		9x - 10x		Increase
-1	For the assets that have more than one valuation technique, the Company may rely on the techniques individually or in aggregate based on a weight ascribed to each one ranging from 0-100%. When determining the weighting ascribed to each valuation methodology, the Company considers, among other factors, the availability of direct market comparables, the applicability of a discounted cash flow analysis and the expected hold period and manner of realization for the investment. These factors can result in different weightings among the investments and in certain instances, may result in up to a 100% weighting to a single methodology. Broker quotes obtained for valuation purposes are reviewed by the Company through other valuation techniques.
-2	In determining certain of these inputs, management evaluates a variety of factors including economic conditions, industry and market developments; market valuations of comparable companies; and company specific developments including exit strategies and realization opportunities.
-3	Weighted average amounts are based on the estimated fair values.
-4	Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs in isolation could result in significantly higher or lower fair value measurements.
-5	The impact of changes in prepayment speeds may have differing impacts depending on the seniority of the instrument. Generally, an increase in the constant prepayment speed will positively impact the overall valuation of traditional mortgage assets. In contrast, an increase in the constant prepayment rate will negatively impact the overall valuation of interest-only strips.
-6	When determining the illiquidity discount to be applied to equity investments, at estimated fair value, the Company takes a uniform approach across its portfolio and generally applies a minimum 5% discount to all private equity investments carried at estimated fair value. The Company then evaluates such investments to determine if factors exist that could make it more challenging to monetize the investment and, therefore, justify applying a higher illiquidity discount. These factors generally include the salability of the investment, whether the issuer is undergoing significant restructuring activity or similar factors, as well as characteristics about the issuer including its size and/or whether it is experiencing, or expected to experience, a significant decline in earnings. Depending on the applicability of these factors, the Company determines the amount of any incremental illiquidity discount to be applied above the 5% minimum, and during the time the Company holds the investment, the illiquidity discount may be increased or decreased, from time to time, based on changes to these factors. The amount of illiquidity discount applied at any time requires considerable judgment about what a market participant would consider and is based on the facts and circumstances of each individual investment. Accordingly, the illiquidity discount ultimately considered by a market participant upon the realization of any investment may be higher or lower than that estimated by the Company in its valuations.
-7	The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level 3 investments if the market comparables approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach.
-8	The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level 3 investments if the discounted cash flow approach results in a higher valuation than the market comparables approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach.
-9	The directional change from an increase in forward and spot rates varies and is dependent on the specific option.

SEGMENT_REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2014
SEGMENT REPORTING
SEGMENT REPORTING	NOTE 15. SEGMENT REPORTING
	Operating segments are defined as components of a company that engage in business activities that may earn revenues and incur expenses for which separate financial information is available and reviewed by the chief operating decision maker or group in determining how to allocate resources and assessing performance. The Company operates its business through the following reportable segments: credit ("Credit"), natural resources ("Natural Resources") and other ("Other") segments.
	The Company's reportable segments are differentiated primarily by their investment focuses. The Credit segment consists primarily of below investment grade corporate debt comprised of senior secured and unsecured loans, mezzanine loans, high yield bonds, private and public equity investments, and distressed and stressed debt securities. The Natural Resources segment consists of non-operated working and overriding royalty interests in oil and natural gas properties, as well as interests in joint ventures and partnerships focused on the oil and gas sector. The Other segment includes all other portfolio holdings, consisting solely of commercial real estate. The segments currently reported are consistent with the way decisions regarding the allocation of resources are made, as well as how operating results are reviewed by the Company.
	The Company evaluates the performance of its reportable segments based on several net income (loss) components. Net income (loss) includes (i) revenues, (ii) related investment costs and expenses, (iii) other income (loss), which is comprised primarily of unrealized and realized gains and losses on investments, debt and derivatives, and (iv) other expenses, including related party management compensation and general and administrative expenses. Certain corporate assets and expenses that are not directly related to the individual segments, including interest expense and related costs on borrowings, base management fees and professional services are allocated to individual segments based on the investment portfolio balance in each respective segment as of the most recent period-end. Certain other corporate assets and expenses, including prepaid insurance, incentive fees, insurance expenses, directors' expenses and share-based compensation expense are not allocated to individual segments in the Company's assessment of segment performance. Collectively, these items are included as reconciling items between reported segment amounts and consolidated totals.
	The following table presents the net income (loss) components of our reportable segments reconciled to amounts reflected in the consolidated statements of operations for the eight months ended December 31, 2014 (amounts in thousands):
			Successor Company
			Credit			Natural			Other			Reconciling			Total
						Resources						Items(1)			Consolidated
			For the			For the			For the			For the			For the
			eight months			eight months			eight months			eight months			eight months
			ended			ended			ended			ended			ended
			December 31,			December 31,			December 31,			December 31,			December 31,
			2014			2014			2014			2014			2014
	Total revenues		$	279,639		$	57,616		$	13,090		$	—		$	350,345
	Total investment costs and expenses			142,204			38,117			815			—			181,136
	Total other income (loss)			(241,035	)		(115,141	)		11,794			—			(344,382	)
	Total other expenses			40,703			2,219			476			174			43,572
	Income tax expense (benefit)			49			—			435			—			484
	Net income (loss)		$	(144,352	)	$	(97,861	)	$	23,158		$	(174	)	$	(219,229	)
	Net income (loss) attributable to noncontrolling interests			(1,797	)		(4,159	)		—			—			(5,956	)
	Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries		$	(142,555	)	$	(93,702	)	$	23,158		$	(174	)	$	(213,273	)
	-1	Consists of insurance and directors' expenses which are not allocated to individual segments.
	The following table presents the net income (loss) components of our reportable segments reconciled to amounts reflected in the consolidated statements of operations for the four months ended April 30, 2014 (amounts in thousands):
			Predecessor Company
			Credit			Natural			Other			Reconciling			Total
						Resources						Items(1)			Consolidated
			Four months			Four months			Four months			Four months			Four months
			ended			ended			ended			ended			ended
			April 30, 2014			April 30, 2014			April 30, 2014			April 30, 2014			April 30, 2014
	Total revenues		$	134,255		$	61,782		$	21,205		$	—		$	217,242
	Total investment costs and expenses			62,485			38,915			425			—			101,825
	Total other income (loss)			76,046			(8,123	)		(11,589	)		—			56,334
	Total other expenses			23,121			1,633			230			40,625			65,609
	Income tax expense (benefit)			146			—			16			—			162
	Net income (loss)		$	124,549		$	13,111		$	8,945		$	(40,625	)	$	105,980
	-1	Consists of certain expenses not allocated to individual segments including other expenses comprised of incentive fees of $12.9 million and merger related transaction costs of $22.7 million for the four months ended April 30, 2014. The remaining reconciling items include insurance expenses, directors' expenses and share-based compensation expense.
	The following table presents the net income (loss) components of our reportable segments reconciled to amounts reflected in the consolidated statements of operations for the years ended December 31, 2013 and 2012 (amounts in thousands):
			Predecessor Company
			Credit						Natural Resources						Other					Reconciling						Total Consolidated
																				Items(1)
	For the years ended		2013			2012			2013			2012			2013			2012		2013			2012			2013		2012
	Total revenues		$	425,209		$	490,861		$	119,178		$	64,535		$	1,519		$	77	$	—		$	—		$	545,906	$	555,473
	Total investment costs and expenses			218,600			257,269			86,174			60,668			931			438		—			—			305,705		318,375
	Total other income (loss)			171,006			199,723			(13,642	)		1,881			13,576			4,663		(20,015	)		(445	)		150,925		205,822
	Total other expenses			60,870			48,640			4,835			5,111			606			217		31,118			44,189			97,429		98,157
	Income tax expense (benefit)			450			(3,468	)		—			—			17			1		—			—			467		(3,467	)
	Net income (loss)		$	316,295		$	388,143		$	14,527		$	637		$	13,541		$	4,084	$	(51,133	)	$	(44,634	)	$	293,230	$	348,230
	-1	Consists of certain expenses not allocated to individual segments including (i) other income (loss) comprised of losses on restructuring and extinguishment of debt of $20.0 million and $0.4 million for the years ended December 31, 2013 and 2012, respectively and (ii) other expenses comprised of incentive fees of $22.7 million and $37.6 million for the years ended December 31, 2013 and 2012, respectively. The remaining reconciling items include insurance expenses, directors' expenses and share-based compensation expense.
	The following table shows total assets of reportable segments reconciled to amounts reflected in the consolidated balance sheets as of December 31, 2014 and 2013 (amounts in thousands):
			Credit						Natural Resources						Other					Reconciling Items						Total Consolidated(1)
	As of		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,		December 31,			December 31,			December 31,		December 31,
			2014			2013			2014			2013			2014			2013		2014			2013			2014		2013
	Total assets		$	8,438,227		$	8,020,353		$	300,281		$	505,029		$	213,006		$	190,946	$	111		$	870		$	8,951,625	$	8,717,198
	-1	Total consolidated assets as of December 31, 2014 include $100.2 million of noncontrolling interests, of which $62.7 million is related to the Credit segment and $37.4 million is related to the Natural Resources segment.

EARNINGS_PER_COMMON_SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2014
EARNINGS PER COMMON SHARE
EARNINGS PER COMMON SHARE	NOTE 16. EARNINGS PER COMMON SHARE
	Earnings per common share is not provided for the eight months ended December 31, 2014 as the Company is now a subsidiary of KKR Fund Holdings, which owns 100 common shares of the Company constituting all of the Company's outstanding common shares. The following table presents a reconciliation of basic and diluted net income (loss) per common share for the Predecessor Company (amounts in thousands, except per share information):
			Predecessor Company
			Four months		Year ended		Year ended
			ended		December 31,		December 31,
			April 30, 2014		2013		2012
	Net income (loss)		$	105,980	$	293,230	$	348,230
	Less: Preferred share distributions			6,891		27,411		—
	Net income (loss) available to common shares		$	99,089	$	265,819	$	348,230
	Less: Dividends and undistributed earnings allocated to participating securities			292		904		1,116
	Net income (loss) allocated to common shares		$	98,797	$	264,915	$	347,114
	Effect of dilutive securities:
	Interest on convertible senior notes			—		—		3,234
	Net income (loss) allocated to common shares for diluted earnings per share		$	98,797	$	264,915	$	350,348
	Basic:
	Basic weighted average common shares outstanding			204,276		202,411		177,838
	Net income (loss) per common share		$	0.48	$	1.31	$	1.95
	Diluted:
	Basic weighted average common shares outstanding			204,276		202,411		177,838
	Dilutive effect of convertible senior notes(1)			—		—		9,585
	Diluted weighted average common shares outstanding(2)			204,276		202,411		187,423
	Net income (loss) per common share		$	0.48	$	1.31	$	1.87
	-1	The if-converted method was applied during the fourth quarter of 2012 reflecting the assumption that the convertible senior notes would be settled in common shares. During the first quarter of 2013, $172.5 million of the Company's outstanding convertible notes had been tendered for conversion and were settled with 26.1 million common shares.
	-2	Potential anti-dilutive common shares excluded from diluted earnings per share related to common share options were 1,932,279 for all periods presented.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Dec. 31, 2014
ACCUMULATED OTHER COMPREHENSIVE LOSS.
ACCUMULATED OTHER COMPREHENSIVE LOSS	NOTE 17. ACCUMULATED OTHER COMPREHENSIVE LOSS
	In connection with the Merger Transaction, accumulated other comprehensive loss is not provided for the eight months ended December 31, 2014, as changes in the estimated fair value of all securities and cash flow hedges are recorded in the consolidated statements of operations, within net realized and unrealized gain (loss) on investments and net realized and unrealized gain (loss) on derivatives and foreign exchange, respectively. The components of changes in accumulated other comprehensive loss for the Predecessor Company were as follows (amounts in thousands):
			Predecessor Company
			Four months ended April 30, 2014(1)
			Net unrealized			Net unrealized			Total
			gains on			losses on cash
			available-for-sale			flow hedges
			securities
	Beginning balance		$	23,567		$	(39,219	)	$	(15,652	)
	Other comprehensive loss before reclassifications			(2,614	)		(5,442	)		(8,056	)
	Amounts reclassified from accumulated other comprehensive loss(2)			(2,639	)		—			(2,639	)
	Net current-period other comprehensive loss			(5,253	)		(5,442	)		(10,695	)
	Ending balance		$	18,314		$	(44,661	)	$	(26,347	)
	-1	The Company's gross and net of tax amounts are the same.
	-2	Includes an impairment charge of $4.4 million for investments which were determined to be other-than-temporary for the four months ended April 30, 2014. These reclassified amounts are included in net realized and unrealized gain (loss) on investments on the consolidated statements of operations.
			Predecessor Company
			Year ended December 31, 2013(1)									Year ended December 31, 2012(1)
			Net unrealized			Net			Total			Net unrealized			Net			Total
			gains on			unrealized						gains on			unrealized
			available-			losses on cash						available-			losses on cash
			for-sale			flow hedges						for-sale			flow hedges
			securities									securities
	Beginning balance		$	17,472		$	(87,698	)	$	(70,226	)	$	62,248		$	(97,867	)	$	(35,619	)
	Other comprehensive income (loss) before reclassifications			(9,668	)		48,479			38,811			48,358			10,169			58,527
	Amounts reclassified from accumulated other comprehensive loss(2)			15,763			—			15,763			(93,134	)		—			(93,134	)
	Net current-period other comprehensive income (loss)			6,095			48,479			54,574			(44,776	)		10,169			(34,607	)
	Ending balance		$	23,567		$	(39,219	)	$	(15,652	)	$	17,472		$	(87,698	)	$	(70,226	)
	-1	The Company's gross and net of tax amounts are the same.
	-2	Includes impairment charges of $19.5 million and $8.4 million for investments which were determined to be other-than- temporary for the years ended December 31, 2013 and 2012, respectively. These reclassified amounts are included in net realized and unrealized gain (loss) on investments on the consolidated statements of operations.

SUMMARY_OF_QUARTERLY_INFORMATI

SUMMARY OF QUARTERLY INFORMATION (UNAUDITED)	12 Months Ended
	Dec. 31, 2014
SUMMARY OF QUARTERLY INFORMATION (UNAUDITED)
SUMMARY OF QUARTERLY INFORMATION (UNAUDITED)	NOTE 18. SUMMARY OF QUARTERLY INFORMATION (UNAUDITED)
	The following is a presentation of the results of operations for the years ended December 31, 2014 and 2013:
			Successor Company											Predecessor Company
				2014											2014
	(amounts in thousands, except per share information)		Fourth			Third			Two months					One month			First
			Quarter			Quarter			ended					ended			Quarter
									June 30					April 30
	Total revenues		$	131,276		$	124,756		$	94,313				$	76,652		$	140,590
	Total investment costs and expenses			64,132			61,340			55,664					28,055			73,770
	Total other income (loss)			(239,584	)		(125,685	)		20,887					(16,506	)		72,840
	Total other expenses			14,310			14,898			14,364					34,151			31,458
	Income (loss) before income taxes			(186,750	)		(77,167	)		45,172					(2,060	)		108,202
	Income tax expense (benefit)			422			34			28					143			19
	Net income (loss)			(187,172	)		(77,201	)		45,144					(2,203	)		108,183
	Net income (loss) attributable to non-controlling interests			(6,772	)		816			—					—			—
	Net income (loss) attributable to KKR Financial Holdings LLC and subsidiaries			(180,400	)		(78,017	)		45,144					(2,203	)		108,183
	Preferred share distributions			6,891			6,891			6,891					—			6,891
	Net income (loss) available to common shares		$	(187,291	)	$	(84,908	)	$	38,253				$	(2,203	)	$	101,292
	Net income (loss) per common share:
	Basic			N/A			N/A			N/A				$	(0.01	)	$	0.49
	Diluted			N/A			N/A			N/A				$	(0.01	)	$	0.49
	Weighted average number of common shares outstanding:
	Basic			N/A			N/A			N/A					204,398			204,236
	Diluted			N/A			N/A			N/A					204,398			204,236
			Predecessor Company
			2013
	(amounts in thousands, except per share information)		Fourth			Third			Second			First
			Quarter			Quarter			Quarter			Quarter
	Total revenues		$	139,510		$	128,702		$	137,244		$	140,450
	Total investment costs and expenses			81,586			77,877			65,193			81,049
	Total other income (loss)			33,244			6,226			37,235			74,220
	Total other expenses			22,259			17,147			23,196			34,827
	Income (loss) before income taxes			68,909			39,904			86,090			98,794
	Income tax expense (benefit)			33			18			(42	)		458
	Net income (loss)		$	68,876		$	39,886		$	86,132		$	98,336
	Preferred share distributions			6,891			6,891			6,891			6,738
	Net income (loss) available to common shares		$	61,985		$	32,995		$	79,241		$	91,598
	Net income (loss) per common share:
	Basic(1)		$	0.3		$	0.16		$	0.39		$	0.46
	Diluted(1)		$	0.3		$	0.16		$	0.39		$	0.46
	Weighted average number of common shares outstanding:
	Basic			204,154			204,134			204,108			197,153
	Diluted			204,154			204,134			204,108			197,153
	-1	Summation of the quarters' earnings per share may not equal the annual amounts due to the averaging effect of the number of shares and share equivalents throughout the year.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2014
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 19. SUBSEQUENT EVENTS
	On March 26, 2015, the Company's board of directors declared a cash distribution on its Series A LLC Preferred Shares totaling $6.9 million, or $0.460938 per share. The distribution is payable on April 15, 2015 to preferred shareholders as of the close of business on April 8, 2015.
	On February 26, 2015, the Company's board of directors declared a cash distribution for the quarter ended December 31, 2014 on its common shares totaling $55.2 million, or $551,627 per common share. The distribution was paid on February 27, 2015 to common shareholders of record as of the close of business on February 26, 2015.
	On February 25, 2015, Michael R. McFerran provided notice of his resignation from the board of directors and its executive committee and as Chief Financial Officer and Chief Operating Officer of the Company, effective February 27, 2015. The board of directors elected Thomas N. Murphy to succeed Mr. McFerran as Chief Financial Officer and Treasurer of the Company and appointed Jeffrey B. Van Horn as a member of the board of directors and its executive committee and as Chief Operating Officer of the Company, in each case effective February 27, 2015.
	On December 22, 2014, the Company's board of directors declared a cash distribution on its Series A LLC Preferred Shares totaling $6.9 million, or $0.460938 per share. The distribution was paid on January 15, 2015 to preferred shareholders as of the close of business on January 8, 2015.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Presentation	Basis of Presentation
	The accompanying consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"). The consolidated financial statements include the accounts of the Company and entities established to complete secured financing transactions that are considered to be variable interest entities ("VIEs") and for which the Company is the primary beneficiary. Also included in the consolidated financial statements are the financial results of certain entities, which are not considered VIEs, but in which the Company is presumed to have control. The ownership interests held by third parties are reflected as noncontrolling interests in the accompanying financial statements.
	As further described in Note 3 to these consolidated financial statements, the Merger Transaction was accounted for using the acquisition method of accounting, which required that the assets purchased and the liabilities assumed all be reported in the acquirer's financial statements at their fair value, with any excess of net assets over the purchase price being reported as a bargain purchase gain. The application of the acquisition method of accounting represented a push down of accounting basis to the Company, whereby it was also required to record the assets and liabilities at fair value as of the date of the Merger Transaction. This change in accounting basis resulted in the termination of the prior reporting entity and a corresponding creation of a new reporting entity.
	Accordingly, the Company's consolidated financial statements and transactional records prior to the effective date, or May 1, 2014 (the "Effective Date"), reflect the historical accounting basis of assets and liabilities and are labeled "Predecessor Company," while such records subsequent to the Effective Date are labeled "Successor Company" and reflect the push down basis of accounting for the new estimated fair values in the Company's consolidated financial statements. This change in accounting basis is represented in the consolidated financial statements by a vertical black line which appears between the columns entitled "Predecessor Company" and "Successor Company" on the statements and in the relevant notes. The black line signifies that the amounts shown for the periods prior to and subsequent to the Merger Transaction are not comparable.
	In addition to the new accounting basis established for assets and liabilities, purchase accounting also required the reclassification of any retained earnings or accumulated deficit from periods prior to the acquisition and the elimination of any accumulated other comprehensive income or loss to be recognized within the Company's shareholders' equity section of the Company's consolidated financial statements. Accordingly, the Company's accumulated deficit at December 31, 2014 represents only the results of operations subsequent to April 30, 2014, the date of the Merger Transaction.
	For the following assets not carried at fair value, as presented under the Predecessor Company, the Company adopted the fair value option of accounting as of the Effective Date: (i) corporate loans held for investment at amortized cost, net of an allowance for loan losses, (ii) corporate loans held for sale at lower of cost or estimated fair value and (iii) certain other investments at cost. In addition, the Company elected the fair value option of accounting for its collateralized loan obligation secured notes. As such, the accounting policies followed by the Company in the preparation of its consolidated financial statements for the Successor period present all financial assets and CLO secured notes at estimated fair value. The Company's adoption of fair value accounting was for the primary purpose of reporting values that more closely aligned with KKR & Co.'s method of accounting.
	Unrealized gains and losses for the financial assets and liabilities carried at estimated fair value are reported in net realized and unrealized gain (loss) on investments and net realized and unrealized gain (loss) on debt, respectively, in the consolidated statements of operations. Unrealized gains or losses primarily reflect the change in instrument values, including the reversal of previously recorded unrealized gains or losses when gains or losses are realized. Realized gains or losses are measured by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the asset without regard to unrealized gains or losses previously recognized. For the Successor period, upon the sale of a corporate loan or debt security, the net realized gain or loss is computed using the specific identification method. Comparatively, for the Predecessor period, the realized net gain or loss was computed on a weighted average cost basis.
	In addition, for the Successor period, all purchases and sales of assets are recorded on the trade date. Comparatively, for the Predecessor periods, corporate loans were recorded on the settlement date.
Use of Estimates	Use of Estimates
	The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions 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. The Company uses historical experience and various other assumptions and information that are believed to be reasonable under the circumstances in developing its estimates and judgments. Estimates and assumptions about future events and their effects cannot be predicted with certainty and, accordingly, these estimates may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company's operating environment changes. While the Company believes that the estimates and assumptions used in the preparation of the consolidated financial statements are appropriate, actual results could differ from those estimates.
Consolidation	Consolidation
	KKR Financial CLO 2005-1, Ltd. ("CLO 2005-1"), KKR Financial CLO 2005-2, Ltd. ("CLO 2005-2"), KKR Financial CLO 2006-1, Ltd. ("CLO 2006-1"), KKR Financial CLO 2007-1, Ltd. ("CLO 2007-1"), KKR Financial CLO 2007-A, Ltd. ("CLO 2007-A"), KKR Financial CLO 2011-1, Ltd. ("CLO 2011-1"), KKR Financial CLO 2012-1, Ltd. ("CLO 2012-1"), KKR Financial CLO 2013-1, Ltd. ("CLO 2013-1"), KKR Financial CLO 2013-2, Ltd. ("CLO 2013-2"), KKR CLO 9, Ltd. ("CLO 9") and KKR CLO 10, Ltd. ("CLO 10") (collectively the "Cash Flow CLOs") are entities established to complete secured financing transactions. These entities are VIEs which the Company consolidates as the Company has determined it has the power to direct the activities that most significantly impact these entities' economic performance and the Company has both the obligation to absorb losses of these entities and the right to receive benefits from these entities that could potentially be significant to these entities. In CLO transactions, subordinated notes have the first risk of loss and conversely, the residual value upside of the transactions.
	The Company finances the majority of its corporate debt investments through its CLOs. As of December 31, 2014, the Company's CLOs held $6.9 billion par amount, or $6.5 billion estimated fair value, of corporate debt investments. As of December 31, 2013, the Company's CLOs held $6.7 billion par amount, or $6.4 billion estimated fair value, of corporate debt investments. The assets in each CLO can be used only to settle the debt of the related CLO. As of December 31, 2014 and 2013, the aggregate par amount of CLO debt totaled $5.6 billion and $5.3 billion, respectively, held by unaffiliated third parties.
	The Company consolidates all non-VIEs in which it holds a greater than 50 percent voting interest. Specifically, the Company consolidates majority owned entities for which the Company is presumed to have control. The ownership interests of these entities held by third parties are reflected as noncontrolling interests in the accompanying financial statements. The Company began consolidating a majority of these non-VIE entities as a result of the asset contributions from its Parent during the second half of 2014. For certain of these entities, the Company previously held a percentage ownership, but following the incremental contributions from its Parent, were presumed to have control.
	In addition, the Company has noncontrolling interests in joint ventures and partnerships that do not qualify as VIEs and do not meet the control requirements for consolidation as defined by GAAP.
	All inter-company balances and transactions have been eliminated in consolidation.
Fair Value Option	Fair Value Option
	In connection with the application of acquisition accounting related to the Merger Transaction, the Successor Company elected the fair value option of accounting for its financial assets and CLO secured notes for the primary purpose of reporting values that more closely aligned with KKR & Co.'s method of accounting. Related unrealized gains and losses are reported in net realized and unrealized gain (loss) on investments in the consolidated statements of operations.
Fair Value of Financial Instruments	Fair Value of Financial Instruments
	Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation techniques are applied. These valuation techniques involve varying levels of management estimation and judgment, the degree of which is dependent on a variety of factors including the price transparency for the instruments or market and the instruments' complexity for disclosure purposes. Assets and liabilities in the consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their value. Hierarchical levels, as defined under GAAP, are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets and liabilities, and are as follows:
	Level 1: Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.
	Level 2: Inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar instruments in active markets, and inputs other than quoted prices that are observable for the asset or liability.
	Level 3: Inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability.
	A significant decrease in the volume and level of activity for the asset or liability is an indication that transactions or quoted prices may not be representative of fair value because in such market conditions there may be increased instances of transactions that are not orderly. In those circumstances, further analysis of transactions or quoted prices is needed, and a significant adjustment to the transactions or quoted prices may be necessary to estimate fair value.
	The availability of observable inputs can vary depending on the financial asset or liability and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument is new, whether the instrument is traded on an active exchange or in the secondary market, and the current market condition. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for instruments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement in its entirety falls is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the asset. The variability and availability of the observable inputs affected by the factors described above may cause transfers between Levels 1, 2, and/or 3, which the Company recognizes at the end of the reporting period.
	Many financial assets and liabilities have bid and ask prices that can be observed in the marketplace. Bid prices reflect the highest price that the Company and others are willing to pay for an asset. Ask prices represent the lowest price that the Company and others are willing to accept for an asset. For financial assets and liabilities whose inputs are based on bid-ask prices, the Company does not require that fair value always be a predetermined point in the bid-ask range. The Company's policy is to allow for mid-market pricing and adjusting to the point within the bid-ask range that meets the Company's best estimate of fair value.
	Depending on the relative liquidity in the markets for certain assets, the Company may transfer assets to Level 3 if it determines that observable quoted prices, obtained directly or indirectly, are not available. The valuation techniques used for the assets and liabilities that are valued using Level 3 of the fair value hierarchy are described below.
	Securities and Corporate Loans, at Estimated Fair Value:    Securities and corporate loans, at estimated fair value are initially valued at transaction price and are subsequently valued using market data for similar instruments (e.g., recent transactions or broker quotes), comparisons to benchmark derivative indices or valuation models. Valuation models are based on yield analysis techniques, where the key inputs are based on relative value analyses, which incorporate similar instruments from similar issuers. In addition, an illiquidity discount is applied where appropriate.
	Equity and Interests in Joint Ventures and Partnerships, at Estimated Fair Value:    Equity and interests in joint ventures and partnerships, at estimated fair value, are initially valued at transaction price and are subsequently valued using observable market prices, if available, or internally developed models in the absence of readily observable market prices. Interests in joint ventures and partnerships include certain equity investments related to the oil and gas, commercial real estate and specialty lending sectors. Valuation models are generally based on market comparables and discounted cash flow approaches, in which various internal and external factors are considered. Factors include key financial inputs and recent public and private transactions for comparable investments. Key inputs used for the discounted cash flow approach, which incorporates significant assumptions and judgment, include the weighted average cost of capital and assumed inputs used to calculate terminal values, such as earnings before interest, taxes, depreciation and amortization ("EBITDA") exit multiples. For natural resources investments, which are generally valued using a discounted cash flow analysis, key inputs include commodity price forecasts and the weighted average cost of capital. In addition, the valuations of natural resources investments generally incorporate both commodity prices as quoted on indices and long-term commodity price forecasts, which may be substantially different from, and are currently higher than, commodity prices on certain indices for equivalent future dates. Long-term commodity price forecasts are utilized to capture the value of the investments across a range of commodity prices within the portfolio associated with future development and to reflect price expectations that are estimated to be required to balance demand and production in global commodity markets over the long-term.
	Upon completion of the valuations conducted using these approaches, a weighting is ascribed to each approach and an illiquidity discount is applied where appropriate. The ultimate fair value recorded for a particular investment will generally be within the range suggested by the two approaches.
	Over-the-counter ("OTC") Derivative Contracts:    OTC derivative contracts include forward, swap and option contracts related to interest rates, foreign currencies, credit standing of reference entities and equity prices. OTC derivatives are initially valued using quoted market prices, if available, or models using a series of techniques, including closed-form analytic formulae, such as the Black-Scholes option-pricing model, and/or simulation models in the absence of quoted market prices. Many pricing models employ methodologies that have pricing inputs observed from actively quoted markets, as is the case for generic interest rate swap and option contracts.
	Residential Mortgage-Backed Securities, at Estimated Fair Value:    RMBS are initially valued at transaction price and are subsequently valued using a third party valuation servicer. The most significant inputs to the valuation of these instruments are default and loss expectations and constant prepayment rates.
	Collateralized Loan Obligation Secured Notes:    Collateralized loan obligation secured notes are initially valued at transaction price and are subsequently valued using a third party valuation servicer. The most significant inputs to the valuation of these instruments are default and loss expectations and discount margins.
	Key unobservable inputs that have a significant impact on the Company's Level 3 valuations as described above are included in Note 14 to these consolidated financial statements. The Company utilizes several unobservable pricing inputs and assumptions in determining the fair value of its Level 3 investments. These unobservable pricing inputs and assumptions may differ by asset and in the application of the Company's valuation methodologies. The reported fair value estimates could vary materially if the Company had chosen to incorporate different unobservable pricing inputs and other assumptions or, for applicable investments, if the Company only used either the discounted cash flow methodology or the market comparables methodology instead of assigning a weighting to both methodologies.
	Valuation Process
	Investments are generally valued based on quotations from third party pricing services, unless such a quotation is unavailable or is determined to be unreliable or inadequately representing the fair value of the particular assets. In that case, valuations are based on either valuation data obtained from one or more other third party pricing sources, including broker dealers, or will reflect the valuation committee's good faith determination of estimated fair value based on other factors considered relevant. The Company utilizes a valuation committee, whose members consist of certain employees of the Manager. The valuation committee is responsible for coordinating and implementing the Company's quarterly valuation process.
	The valuation process involved in Level 3 measurements for assets and liabilities is completed on a quarterly basis and is designed to subject the valuation of Level 3 investments to an appropriate level of consistency, oversight and review. For assets classified as Level 3, valuations may be performed by the relevant investment professionals or by independent third parties with input from the relevant investment professionals and are based on various factors including evaluation of financial and operating data, company specific developments, market discount rates and valuations of comparable companies and model projections. Asset valuations are approved by the valuation committee.
Cash and Cash Equivalents	Cash and Cash Equivalents
	Cash and cash equivalents include cash on hand, cash held in banks and highly liquid investments with original maturities of three months or less. Interest income earned on cash and cash equivalents is recorded in other within total revenues on the consolidated statements of operation.
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents
	Restricted cash and cash equivalents represent amounts that are held by third parties under certain of the Company's financing and derivative transactions. Interest income earned on restricted cash and cash equivalents is recorded in other within total revenues on the consolidated statements of operations.
	On the consolidated statements of cash flows, net additions or reductions to restricted cash and cash equivalents are classified as an investing activity as restricted cash and cash equivalents reflect the receipts from collections or sales of investments, as well as payments made to acquire investments held by third parties.
Securities Available-for-Sale	Securities Available-for-Sale
	The Predecessor and Successor Company both classify certain of their investments in securities as available-for-sale as the Companies may sell them prior to maturity and do not hold them principally for the purpose of selling them in the near term. These investments are carried at estimated fair value. The Successor Company elected the fair value option of accounting for its securities, with changes in estimated fair value reported in net realized and unrealized gain (loss) on investments in the consolidated statements of operations. Comparatively, the Predecessor Company reported all unrealized gains and losses in accumulated other comprehensive loss on the consolidated balance sheets.
	The Predecessor Company monitored its available-for-sale securities portfolio for impairments. A loss was recognized when it was determined that a decline in the estimated fair value of a security below its amortized cost was other-than-temporary. The Company considered many factors in determining whether the impairment of a security was deemed to be other-than-temporary, including, but not limited to, the length of time the security had a decline in estimated fair value below its amortized cost and the severity of the decline, the amount of the unrealized loss, recent events specific to the issuer or industry, external credit ratings and recent changes in such ratings. In addition, for debt securities, the Company considered its intent to sell the debt security, the Company's estimation of whether or not it expected to recover the debt security's entire amortized cost if it intended to hold the debt security, and whether it was more likely than not that the Company was required to sell the debt security before its anticipated recovery. For equity securities, the Company also considered its intent and ability to hold the equity security for a period of time sufficient for a recovery in value.
	The amount of the loss that was recognized when it was determined that a decline in the estimated fair value of a security below its amortized cost was other-than-temporary was dependent on certain factors. If the security was an equity security or if the security was a debt security that the Company intended to sell or estimated that it was more likely than not that the Company would be required to sell before recovery of its amortized cost, then the impairment amount recognized in earnings was the entire difference between the estimated fair value of the security and its amortized cost. For debt securities that the Company did not intend to sell or estimated that it was not more likely than not to be required to sell before recovery, the impairment was separated into the estimated amount relating to credit loss and the estimated amount relating to all other factors. Only the estimated credit loss amount was recognized in earnings, with the remainder of the loss amount recognized in accumulated other comprehensive loss.
	Unamortized premiums and unaccreted discounts on securities available-for-sale were recognized in interest income over the contractual life, adjusted for actual prepayments, of the securities using the effective interest method.
Other Securities, at Estimated Fair Value	Other Securities, at Estimated Fair Value
	The Predecessor and Successor Company both elected the fair value option of accounting for certain of their securities for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these securities. All securities, at estimated fair value are included within securities on the consolidated balance sheets.
	Estimated fair values are based on quoted market prices, when available, on estimates provided by independent pricing sources or dealers who make markets in such securities, or internal valuation models when external sources of fair value are not available. In accounting for the Merger Transaction, the difference between the estimated fair value, as of the Effective Date, and the par amount became the new premium or discount to be amortized or accreted over the remaining terms, adjusted for actual prepayments, of the securities using the effective interest method.
Residential Mortgage-Backed Securities, at Estimated Fair Value	Residential Mortgage-Backed Securities, at Estimated Fair Value
	The Predecessor and Successor Company both elected the fair value option of accounting for their residential mortgage investments for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these investments. RMBS, at estimated fair value are included within securities on the consolidated balance sheets.
Equity Investments, at Estimated Fair Value	Equity Investments, at Estimated Fair Value
	The Predecessor and Successor Company both elected the fair value option of accounting for certain of their equity investments, at estimated fair value, including private equity investments received through restructuring debt transactions or issued by an entity in which the Company may have significant influence. The Companies elected the fair value option for certain of their equity investments for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these investments. Equity investments carried at estimated fair value are presented separately on the consolidated balance sheets.
Interests in Joint Ventures and Partnerships	Interests in Joint Ventures and Partnerships
	The Predecessor and Successor Company both elected the fair value option of accounting for certain of their interests in joint ventures and partnerships. The Companies elected the fair value option of accounting for certain of their noncontrolling interests in joint ventures and partnerships for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these interests. Interests in joint ventures and partnerships are presented separately on the consolidated balance sheets.
Equity Method Investments	Equity Method Investments
	The Company holds certain investments where the Company does not control the investee and where the Company is not the primary beneficiary, but can exert significant influence over the financial and operating policies of the investee. Significant influence typically exists if the Company has a 20% to 50% ownership interest in the investee unless predominant evidence to the contrary exists. The evaluation of whether the Company exerts control or significant influence over the financial and operational policies of an investee may also require significant judgment based on the facts and circumstances surrounding each individual investment. Factors include investor voting or other rights, any influence the Company may have on the governing board of the investee and the relationship between the Company and other investors in the entity. The Company elected the fair value option to account for these equity investments with any changes in estimated fair value recorded in net realized and unrealized gain (loss) on investments in the consolidated statements of operations.
Corporate Loans	Corporate Loans, Net
	In connection with the Company's application of acquisition accounting related to the Merger Transaction and to align more closely with KKR & Co.'s method of accounting, the Company elected to carry all of its corporate loans at estimated fair value as of the Effective Date, with changes in estimated fair value recorded in net realized and unrealized gain (loss) on investments in the consolidated statements of operations. As presented under the Predecessor Company, corporate loans had previously been accounted for based on the following three categories: (i) corporate loans held for investment, which were measured based on their principal plus or minus unaccreted purchase discounts and unamortized purchase premiums, net of an allowance for loan losses; (ii) corporate loans held for sale, which were measured at lower of cost or estimated fair value; and (iii) corporate loans at estimated fair value, which were measured at fair value. As such, the disclosures related to loans held for investment and loans held for sale pertain to the Predecessor Company.
	Corporate Loans
	Prior to the Effective Date, corporate loans were generally held for investment and the Company initially recorded corporate loans at their purchase prices. The Company subsequently accounted for corporate loans based on their outstanding principal plus or minus unaccreted purchase discounts and unamortized purchase premiums and corporate loans that the Company transferred to held for sale were transferred at the lower of cost or estimated fair value. As of the Effective Date, the Company initially recorded corporate loans at their purchase prices and subsequently accounts for all corporate loans at estimated fair value.
	For both the Predecessor and Successor Companies, interest income on corporate loans includes interest at stated coupon rates adjusted for accretion of purchase discounts and the amortization of purchase premiums. Unamortized premiums and unaccreted discounts are recognized in interest income over the contractual life, adjusted for actual prepayments, of the corporate loans using the effective interest method.
	A corporate loan is typically placed on non-accrual status at such time as: (i) management believes that scheduled debt service payments may not be paid when contractually due; (ii) the corporate loan becomes 90 days delinquent; (iii) management determines the borrower is incapable of, or has ceased efforts toward, curing the cause of the impairment; or (iv) the net realizable value of the collateral securing the corporate loan decreases below the Company's carrying value of such corporate loan. As such, corporate loans placed on non-accrual status may or may not be contractually past due at the time of such determination. While on non-accrual status, previously recognized accrued interest is reversed if it is determined that such amounts are not collectible and interest income is recognized using the cost-recovery method, cash-basis method or some combination of the two methods. A corporate loan is placed back on accrual status when the ultimate collectability of the principal and interest is not in doubt.
	Prior to the Effective Date, other than corporate loans measured at estimated fair value, corporate loans acquired with deteriorated credit quality are recorded at initial cost and interest income is recognized as the difference between the Company's estimate of all cash flows that it will receive from the loan in excess of its initial investment on a level-yield basis over the life of the corporate loan (accretable yield) using the effective interest method.
	In addition, prior to the Effective Date, the Company may have modified corporate loans in transactions where the borrower was experiencing financial difficulty and a concession was granted to the borrower as part of the modification. These concessions may have included one or a combination of the following: a reduction of the stated interest rate; payment extensions; forgiveness of principal; or an exchange of assets. Such modifications typically qualified as troubled debt restructurings ("TDRs"). In order to determine whether the borrower was experiencing financial difficulty, an evaluation was performed including the following considerations: whether the borrower was or would have been in payment default on any of its debt in the foreseeable future without the modification; whether there was a potential for a bankruptcy filing; whether there was a going-concern issue; or whether the borrower was unable to secure financing elsewhere.
	Corporate loans whose terms had been modified in a TDR were considered impaired, unless accounted for at fair value or the lower of cost or estimated fair value, and were typically placed on non-accrual status, but could have been moved to accrual status when, among other criteria, payment in full of all amounts due under the restructured terms was expected and the borrower demonstrated a sustained period of repayment performance, typically six months.
	TDRs were separately identified for impairment disclosures and were measured at either the estimated fair value or the present value of estimated future cash flows using the respective corporate loan's effective rate at inception. Impairments associated with TDRs were included within the allocated component of the Company's allowance for loan losses.
	The Company may have also identified receivables that were newly considered impaired and disclosed the total amount of receivables and the allowance for credit losses as of the end of the period of adoption related to those receivables that were newly considered impaired.
	The corporate loans the Company invested in were generally deemed in default upon the non-payment of a single interest payment or as a result of the violation of a covenant in the respective corporate loan agreement. The Company charged-off a portion or all of its amortized cost basis in a corporate loan when it determined that it was uncollectible due to either: (i) the estimation based on a recovery value analysis of a defaulted corporate loan that less than the amortized cost amount would have been recovered through the agreed upon restructuring of the corporate loan or as a result of a bankruptcy process of the issuer of the corporate loan or (ii) the determination by the Company to transfer a corporate loan to held for sale with the corporate loan having an estimated fair value below the amortized cost basis of the corporate loan.
	In addition to TDRs, the Company may have also modified corporate loans which usually involved changes in existing interest rates combined with changes of existing maturities to prevailing market rates/maturities for similar instruments at the time of modification. Such modifications typically did not meet the definition of a TDR since the respective borrowers were neither experiencing financial difficulty nor were seeking a concession as part of the modification.
Allowance for Loan Losses	Allowance for Loan Losses
	As a result of the Merger Transaction, the acquisition method of accounting and adoption of fair value for corporate loans eliminated the need for an allowance for loan losses. The reevaluation of assets required by the acquisition method of accounting resulted in all loans being reported at their estimated fair values as of the Effective Date. The estimated fair value took into account the contractual payments on loans that were not expected to be received and consequently, no allowance for loan losses was carried over for the Successor Company. As of the Effective Date, no allowance for loan losses will be recorded as all corporate loans are carried at estimated fair value. As such, the disclosure related to the allowance for loan losses pertains to the Predecessor Company.
	The Company's corporate loan portfolio is comprised of a single portfolio segment which includes one class of financing receivables, that is, high yield loans that are typically purchased via assignment or participation in either the primary or secondary market. High yield loans are generally characterized as having below investment grade ratings or being unrated.
	Prior to the Effective Date, the Company's allowance for loan losses represented its estimate of probable credit losses inherent in its corporate loan portfolio held for investment as of the balance sheet date. Estimating the Company's allowance for loan losses involved a high degree of management judgment and was based upon a comprehensive review of the Company's corporate loan portfolio that was performed on a quarterly basis. The Company's allowance for loan losses consisted of two components, an allocated component and an unallocated component. The allocated component of the allowance for loan losses pertained to specific corporate loans that the Company had determined were impaired. The Company determined a corporate loan was impaired when management estimated that it was probable that the Company would be unable to collect all amounts due according to the contractual terms of the corporate loan agreement. On a quarterly basis the Company performed a comprehensive review of its entire corporate loan portfolio and identified certain corporate loans that it had determined were impaired. Once a corporate loan was identified as being impaired, the Company placed the corporate loan on non-accrual status, unless the corporate loan was already on non-accrual status, and recorded an allowance that reflected management's best estimate of the loss that the Company expected to recognize from the corporate loan. The expected loss was estimated as being the difference between the Company's current cost basis of the corporate loan, including accrued interest receivable, and the present value of expected future cash flows discounted at the corporate loan's effective interest rate, except as a practical expedient, the corporate loan's observable estimated fair value may have been used. The Company also estimated the probable credit losses inherent in its unfunded loan commitments as of the balance sheet date. Any credit loss reserve for unfunded loan commitments was recorded in accounts payable, accrued expenses and other liabilities on the Company's consolidated balance sheets.
	The unallocated component of the Company's allowance for loan losses represented its estimate of probable losses inherent in the corporate loan portfolio as of the balance sheet date where the specific loan that the loan loss relates to was indeterminable. The Company estimated the unallocated component of the allowance for loan losses through a comprehensive review of its corporate loan portfolio and identified certain corporate loans that demonstrated possible indicators of impairment, including internally assigned credit quality indicators. This assessment excluded all corporate loans that were determined to be impaired and as a result, an allocated reserve had been recorded as described in the preceding paragraph. Such indicators included the current and/or forecasted financial performance, liquidity profile of the issuer, specific industry or economic conditions that may have impacted the issuer, and the observable trading price of the corporate loan if available. All corporate loans were first categorized based on their assigned risk grade and further stratified based on the seniority of the corporate loan in the issuer's capital structure. The seniority classifications assigned to corporate loans were senior secured, second lien and subordinate. Senior secured consisted of corporate loans that were the most senior debt in an issuer's capital structure and therefore had a lower estimated loss severity than other debt that was subordinate to the senior secured loan. Senior secured corporate loans often had a first lien on some or all of the issuer's assets. Second lien consisted of corporate loans that were secured by a second lien interest on some or all of the issuer's assets; however, the corporate loan was subordinate to the first lien debt in the issuer's capital structure. Subordinate consisted of corporate loans that were generally unsecured and subordinate to other debt in the issuer's capital structure.
	There were three internally assigned risk grades that were applied to loans that have not been identified as being impaired: high, moderate and low. High risk meant that there was evidence of possible loss due to the current and/or forecasted financial performance, liquidity profile of the issuer, specific industry or economic conditions that may have impacted the issuer, observable trading price of the corporate loan if available, or other factors that indicated that the breach of a covenant contained in the related loan agreement was possible. Moderate risk meant that while there was not observable evidence of possible loss, there were issuer and/or industry specific trends that indicated a loss may have occurred. Low risk meant that while there was no identified evidence of loss, there was the risk of loss inherent in the loan that had not been identified. All loans held for investment, with the exception of loans that had been identified as impaired, were assigned a risk grade of high, moderate or low.
	The Company applied a range of default and loss severity estimates in order to estimate a range of loss outcomes upon which to base its estimate of probable losses that resulted in the determination of the unallocated component of the Company's allowance for loan losses.
Corporate Loans Held for Sale	Corporate Loans Held for Sale
	As described above, corporate loans held for sale related to the Predecessor Company. From time to time the Company made the determination to transfer certain of its corporate loans from held for investment to held for sale. The decision to transfer a loan to held for sale was generally as a result of the Company determining that the respective loan's credit quality in relation to the loan's expected risk-adjusted return no longer met the Company's investment objective and/or the Company deciding to reduce or eliminate its exposure to a particular loan for risk management purposes. Corporate loans held for sale were stated at lower of cost or estimated fair value and were assessed on an individual basis. Prior to transferring a loan to held for sale, any difference between the carrying amount of the loan and its outstanding principal balance was recognized as an adjustment to the yield by the effective interest method. The loan was transferred from held for investment to held for sale at the lower of its cost or estimated fair value and was carried at the lower of its cost or estimated fair value thereafter. Subsequent to transfer and while the loan was held for sale, recognition as an adjustment to yield by the effective interest method was discontinued for any difference between the carrying amount of the loan and its outstanding principal balance.
	From time to time the Company also made the determination to transfer certain of its corporate loans from held for sale back to held for investment. The decision to transfer a loan back to held for investment was generally as a result of the circumstances that led to the initial transfer to held for sale no longer being present. Such circumstances may have included deteriorated market conditions often resulting in price depreciation or assets becoming illiquid, changes in restrictions on sales and certain loans amending their terms to extend the maturity, whereby the Company determined that selling the asset no longer met its investment objective and strategy. The loan was transferred from held for sale back to held for investment at the lower of its cost or estimated fair value, whereby a new cost basis was established based on this amount.
	Interest income on corporate loans held for sale was recognized through accrual of the stated coupon rate for the loans, unless the loans were placed on non-accrual status, at which point previously recognized accrued interest was reversed if it was determined that such amounts were not collectible and interest income was recognized using either the cost-recovery method or on a cash-basis.
Corporate Loans, at Estimated Fair Value	Corporate Loans, at Estimated Fair Value
	The Predecessor and Successor Company both elected the fair value option of accounting for certain of their corporate loans for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these corporate loans. All corporate loans carried at estimated fair value are included within corporate loans, net on the consolidated balance sheets.
	Estimated fair values are based on quoted prices for similar instruments in active markets and inputs other than observable quoted prices, or internal valuation models when external sources of fair value are not available. In accounting for the Merger Transaction, the difference between the estimated fair value, as of the Effective Date, and the par amount became the new premium or discount to be amortized or accreted over the remaining terms, adjusted for actual prepayments, of the corporate loans using the effective interest method.
	As described above under "Basis of Presentation," as of the Effective Date, purchases and sales of corporate loans are recorded on the trade date.
Oil and Natural Gas Properties	Oil and Natural Gas Properties
	As described further in Note 6, during the third quarter of 2014, the Company closed a certain transaction and distributed certain assets focused on the development of oil and gas properties to its Parent, leaving only overriding royalty interests as oil and natural gas properties, net on the consolidated balance sheets. As such, the policies below including matters such as drilling, repairs and maintenance, and production pertain to those properties owned prior to the transaction and distribution.
	Oil and natural gas producing activities are accounted for under the successful efforts method of accounting. Under this method, exploration costs, other than the costs of drilling exploratory wells, were charged to expense as incurred. Costs that are associated with the drilling of successful exploration wells were capitalized if proved reserves are found. Lease acquisition costs were capitalized when incurred. Costs associated with the drilling of exploratory wells that do not find proved reserves, geological and geophysical costs and costs of certain nonproducing leasehold costs were expensed as incurred.
	Expenditures for repairs and maintenance, including workovers, were charged to expense as incurred.
	The capitalized costs of producing oil and natural gas properties were depleted on a field-by-field basis using the units-of production method based on the ratio of current production to estimated total net proved oil, natural gas and NGL reserves. Proved developed reserves were used in computing depletion rates for drilling and development costs and total proved reserves were used for depletion rates of leasehold costs.
	Estimated dismantlement and abandonment costs for oil and natural gas properties, net of salvage value, were capitalized at their estimated net present value and amortized on a unit-of-production basis over the remaining life of the related proved developed reserves.
Oil And Gas Revenue Recognition	Oil and Gas Revenue Recognition
	Oil, natural gas and natural gas liquid ("NGL") revenues are recognized when production is sold to a purchaser at fixed or determinable prices, when delivery has occurred and title has transferred and collectability of the revenue is reasonably assured. The Company follows the sales method of accounting for natural gas revenues. Under this method of accounting, revenues are recognized based on volumes sold, which may differ from the volume to which the Company is entitled based on the Company's working interest. An imbalance is recognized as a liability only when the estimated remaining reserves will not be sufficient to enable the under-produced owners to recoup their entitled share through future production. Under the sales method, no receivables are recorded when the Company has taken less than its share of production and no payables are recorded when the Company has taken more than its share of production.
Long-Lived Assets	Long-Lived Assets
	Whenever events or changes in circumstances indicate that the carrying amounts of such properties may not be recoverable, the Company evaluates its proved oil and natural gas properties and related equipment and facilities for impairment on a field-by-field basis. The determination of recoverability is made based upon estimated undiscounted future net cash flows. The amount of impairment loss, if any, is determined by comparing the fair value, as determined by a discounted cash flow analysis, with the carrying value of the related asset. The factors used to determine fair value include, but are not limited to, estimates of proved reserves, future commodity pricing, future production estimates, anticipated capital expenditures, future operating costs and a discount rate commensurate with the risk on the properties and cost of capital. Unproved oil and natural gas properties were assessed periodically and, at a minimum, annually on a property-by-property basis, and any impairment in value was recognized when incurred.
Borrowings	Borrowings
	The Company finances the majority of its investments through the use of secured borrowings in the form of securitization transactions structured as non-recourse secured financings and other secured and unsecured borrowings. In addition, the Company financed certain of its oil and gas asset acquisitions through borrowings. The Company recognizes interest expense on all borrowings on an accrual basis.
	In connection with the Company's application of acquisition accounting related to the Merger Transaction and to align more closely with KKR & Co.'s method of accounting, the Company elected to carry its collateralized loan obligation secured notes at estimated fair value as of the Effective Date, with changes in estimated fair value recorded in net realized and unrealized gain (loss) on debt in the consolidated statements of operations. Prior to the Effective Date, collateralized loan obligation secured notes were carried at amortized cost.
Trust Preferred Securities	Trust Preferred Securities
	Trusts formed by the Company for the sole purpose of issuing trust preferred securities are not consolidated by the Company as the Company has determined that it is not the primary beneficiary of such trusts. The Company's investment in the common securities of such trusts is included within other assets on the consolidated balance sheets.
Preferred Shares	Preferred Shares
	Distributions on the Company's Series A LLC Preferred Shares are cumulative and payable quarterly when and if declared by the Company's board of directors at a 7.375% rate per annum. The Company accrues for the distribution upon declaration and is included within accounts payable, accrued expenses and other liabilities on the consolidated balance sheets.
Derivative Instruments	Derivative Instruments
	The Company recognizes all derivatives on the consolidated balance sheet at estimated fair value. On the date the Company enters into a derivative contract, the Company designates and documents each derivative contract as one of the following at the time the contract is executed: (i) a hedge of a recognized asset or liability ("fair value" hedge); (ii) a hedge of a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability ("cash flow" hedge); (iii) a hedge of a net investment in a foreign operation; or (iv) a derivative instrument not designated as a hedging instrument ("free-standing derivative"). For a fair value hedge, the Company records changes in the estimated fair value of the derivative instrument and, to the extent that it is effective, changes in the fair value of the hedged asset or liability in the current period earnings in the same financial statement category as the hedged item. For a cash flow hedge, the Company records changes in the estimated fair value of the derivative to the extent that it is effective in accumulated other comprehensive loss and subsequently reclassifies these changes in estimated fair value to net income in the same period(s) that the hedged transaction affects earnings. The effective portion of the cash flow hedges is recorded in the same financial statement category as the hedged item. For free-standing derivatives, the Company reports changes in the fair values in net realized and unrealized gain (loss) on derivatives and foreign exchange on the consolidated statements of operations.
	The Company formally documents at inception its hedge relationships, including identification of the hedging instruments and the hedged items, its risk management objectives, strategy for undertaking the hedge transaction and the Company's evaluation of effectiveness of its hedged transactions. Periodically, the Company also formally assesses whether the derivative it designated in each hedging relationship is expected to be and has been highly effective in offsetting changes in estimated fair values or cash flows of the hedged item using either the dollar offset or the regression analysis method. If the Company determines that a derivative is not highly effective as a hedge, it discontinues hedge accounting.
	In connection with the Merger Transaction, the Company discontinued hedge accounting for its cash flow hedges and, as of the Effective Date, classifies all derivative instruments as free-standing derivatives. As a result, the Company records changes in the estimated fair value of the derivative instruments in net realized and unrealized gain (loss) on derivatives and foreign exchange on the consolidated statements of operations.
Foreign Currency	Foreign Currency
	The Company makes investments in non-United States dollar denominated assets including securities, loans, equity investments and interests in joint ventures and partnerships. As a result, the Company is subject to the risk of fluctuation in the exchange rate between the United States dollar and the foreign currency in which it makes an investment. In order to reduce the currency risk, the Company may hedge the applicable foreign currency. All investments denominated in a foreign currency are converted to the United States dollar using prevailing exchange rates on the balance sheet date.
	Income, expenses, gains and losses on investments denominated in a foreign currency are converted to the United States dollar using the prevailing exchange rates on the dates when they are recorded. Foreign exchange gains and losses are recorded in net realized and unrealized gain (loss) on derivatives and foreign exchange on the consolidated statements of operations.
Noncontrolling Interests	Noncontrolling Interests
	Noncontrolling interests represent noncontrolling interests in consolidated entities held by third party investors. Income (loss) is allocated to noncontrolling interests based on the relative ownership interests of third party investors and is presented as net income attributable to noncontrolling interests on the consolidated statements of operations. Noncontrolling interests are also presented separately within equity in the consolidated balance sheets.
Manager Compensation	Manager Compensation
	The Management Agreement provides for the payment of a base management fee to the Manager, as well as an incentive fee if the Company's financial performance exceeds certain benchmarks. Additionally, the Management Agreement provides for the Manager to be reimbursed for certain expenses incurred on the Company's behalf. The base management fee and the incentive fee are accrued and expensed during the period for which they are earned by the Manager.
Share-Based Compensation	Share-Based Compensation
	In connection with the Merger Transaction, the Predecessor Company's common shares were converted into 0.51 KKR & Co. common units. Prior to the Effective Date, the Company accounted for share-based compensation issued to its directors and to its Manager using the fair value based methodology in accordance with relevant accounting guidance. Compensation cost related to restricted common shares issued to the Company's directors was measured at its estimated fair value at the grant date, and was amortized and expensed over the vesting period on a straight-line basis. Compensation cost related to restricted common shares and common share options issued to the Manager was initially measured at estimated fair value at the grant date, and was remeasured on subsequent dates to the extent the awards were unvested. The Company elected to use the graded vesting attribution method to amortize compensation expense for the restricted common shares and common share options granted to the Manager.
Income Taxes	Income Taxes
	The Company intends to continue to operate so as to qualify, for United States federal income tax purposes, as a partnership and not as an association or publicly traded partnership taxable as a corporation. Therefore, the Company generally is not subject to United States federal income tax at the entity level, but is subject to limited state and foreign taxes. Holders of the Company's Series A LLC Preferred Shares will be allocated a share of the Company's gross ordinary income for the taxable year of the Company ending within or with their taxable year. Holders of the Company's Series A LLC Preferred Shares will not be allocated any gains or losses from the sale of the Company's assets.
	The Company owns equity interests in entities that have elected or intend to elect to be taxed as a real estate investment trust (a "REIT") under the Internal Revenue Code of 1986, as amended (the "Code"). A REIT generally is not subject to United States federal income tax to the extent that it currently distributes its income and satisfies certain asset, income and ownership tests, and recordkeeping requirements, but it may be subject to some amount of federal, state, local and foreign taxes based on its taxable income.
	The Company has wholly-owned domestic and foreign subsidiaries that are taxable as corporations for United States federal income tax purposes and thus are not consolidated with the Company for United States federal income tax purposes. For financial reporting purposes, current and deferred taxes are provided for on the portion of earnings recognized by the Company with respect to its interest in the domestic taxable corporate subsidiaries, because each is taxed as a regular corporation under the Code. Deferred income tax assets and liabilities are computed based on temporary differences between the GAAP consolidated financial statements and the United States federal income tax basis of assets and liabilities as of each consolidated balance sheet date. The foreign corporate subsidiaries were formed to make certain foreign and domestic investments from time to time. The foreign corporate subsidiaries are organized as exempted companies incorporated with limited liability under the laws of the Cayman Islands, and are anticipated to be exempt from United States federal and state income tax at the corporate entity level because they restrict their activities in the United States to trading in stock and securities for their own account. However, the Company will be required to include their current taxable income in the Company's calculation of its gross ordinary income allocable to holders of its Series A LLC Preferred Shares.
	The Company must recognize the tax impact from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax impact recognized in the financial statements from such a position is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. Penalties and interest related to uncertain tax positions are recorded as tax expense. Significant judgment is required in the identification of uncertain tax positions and in the estimation of penalties and interest on uncertain tax positions. If it is determined that recognition for an uncertain tax provision is necessary, the Company would record a liability for an unrecognized tax expense from an uncertain tax position taken or expected to be taken.
Earnings Per Common Share	Earnings Per Common Share
	In connection with the Merger Transaction, as of the Effective Date, the Company is now a subsidiary of KKR Fund Holdings, a subsidiary of KKR & Co., which owns 100 common shares of the Company constituting all of the Company's outstanding common shares. As KKR Fund Holdings is the Company's sole shareholder, earnings per common share is not reported for the Successor Company. Prior to the Effective Date, the Company presented both basic and diluted earnings per common share ("EPS") in its consolidated financial statements and footnotes thereto. Basic earnings per common share ("Basic EPS") excluded dilution and was computed by dividing net income or loss available to common shareholders by the weighted average number of common shares, including vested restricted common shares, outstanding for the period. The Company calculated EPS using the more dilutive of the two-class method or the if-converted method. The two-class method was an earnings allocation formula that determined EPS for common shares and participating securities. Unvested share-based payment awards that contained non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) were participating securities and were included in the computation of EPS using the two-class method. Accordingly, all earnings (distributed and undistributed) were allocated to common shares, preferred shares and participating securities based on their respective rights to receive dividends. Diluted earnings per common share ("Diluted EPS") reflected the potential dilution of common share options and unvested restricted common shares using the treasury method or if-converted method.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	Consolidation
	In August 2014, the FASB amended existing standards to provide an entity that consolidates a collateralized financing entity ("CFE") that had elected the fair value option for the financial assets and financial liabilities of such CFE an alternative to current fair value measurement guidance. If elected, the Company could measure both the financial assets and the financial liabilities of the CFE by using the fair value of the financial assets or the fair value of the financial liabilities, whichever is more observable. The election would effectively eliminate any measurement difference previously reflected in earnings and attributed to the reporting entity in the consolidated statements of operations. The effective date of the consensus will be for annual periods, and interim periods within those annual periods, beginning after December 15, 2015 for public companies. Early adoption will be permitted as of the beginning of an annual period. The Company is currently evaluating the impact of this accounting update on its financial statements should it elect adoption.

MERGER_TRANSACTION_Tables

MERGER TRANSACTION (Tables)	12 Months Ended
	Dec. 31, 2014
MERGER TRANSACTION
Summary of the estimated fair values assigned to the assets purchased and liabilities assumed	The following table summarizes the estimated fair values assigned to the assets purchased and liabilities assumed (amounts in thousands):
	Assets acquired:
	Cash and cash equivalents		$	210,413
	Restricted cash and cash equivalents			649,967
	Securities			541,149
	Corporate loans			6,649,054
	Equity investments			297,054
	Oil and gas properties, net			505,238
	Interests in joint ventures and partnerships			491,324
	Derivative assets			26,383
	Interest and principal receivable			35,992
	Other assets			208,144
	Total assets			9,614,718
	Liabilities assumed:
	Collateralized loan obligation secured notes			5,663,666
	Credit facilities			63,189
	Senior notes			415,538
	Junior subordinated notes			245,782
	Accounts payable, accrued expenses and other liabilities			357,084
	Accrued interest payable			17,647
	Derivative liabilities			88,356
	Total liabilities			6,851,262
	Fair value of preferred shares			378,983
	Fair value of net assets acquired			2,384,473
	Less: Purchase price			2,369,559
	Bargain purchase gain(1)		$	14,914
	-1	Represents the excess of the fair value of the net assets acquired over the purchase price and value of the preferred shares, which constitute noncontrolling interests in the Company. This difference was recorded as an adjustment to the Company's additional paid-in-capital as of the Effective Date.

SECURITIES_Tables

SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2014
Successor Company
Securities
Summary of the company's securities which are carried at estimated fair value
	The following table summarizes the Company's securities as of December 31, 2014, which was carried at estimated fair value (amounts in thousands):
			December 31, 2014
			Par			Amortized Cost			Estimated
									Fair Value
	Securities, at estimated fair value		$	721,094		$	654,257		$	638,605
	Total		$	721,094		$	654,257		$	638,605
Schedule of realized and unrealized gains (losses) from securities	The following table presents the Company's realized and unrealized gains (losses) from securities for the eight months ended December 31, 2014 (amounts in thousands):
			Eight months ended
			December 31, 2014
	Net realized gains (losses)		$	2,891
	Net change in unrealized gains (losses)			(11,460	)
	Net realized and unrealized gains (losses)		$	(8,569	)
Schedule of amortized cost and estimated fair value of securities available-for-sale by remaining contractual maturity and weighted average coupon based on par values	The following table summarizes the amortized cost and estimated fair value of securities available-for-sale by remaining contractual maturity and weighted average coupon based on par values as of December 31, 2014 (dollar amounts in thousands):
	Description		Amortized			Estimated			Weighted
			Cost			Fair			Average
						Value			Coupon
	Due within one year		$	8,079		$	6,129			7.1	%
	One to five years			250,972			242,990			8.7
	Five to ten years			216,519			215,728			11.0
	Greater than ten years			123,889			118,574			0.7
	Total		$	599,459		$	583,421
Schedule of estimated fair value of securities pledged as collateral	The following table summarizes the estimated fair value of securities pledged as collateral as of December 31, 2014 (amounts in thousands):
			As of
			December 31,
			2014
	Pledged as collateral for collateralized loan obligation secured debt		$	262,085
	Total		$	262,085
Predecessor Company
Securities
Summary of the company's securities which are carried at estimated fair value
	The following table summarizes the Company's securities as of December 31, 2013, which were carried at estimated fair value (amounts in thousands):
			December 31, 2013
			Amortized			Gross			Gross			Estimated
			Cost			Unrealized			Unrealized			Fair
						Gains			Losses			Value
	Securities available-for-sale		$	326,775		$	24,791		$	(1,225	)	$	350,341
	Other securities, at estimated fair value(1)			135,968			12,436			(1,437	)		146,967
	Residential mortgage-backed securities, at estimated fair value(1)			138,284			2,809			(65,089	)		76,004
	Total securities		$	601,027		$	40,036		$	(67,751	)	$	573,312
	-1	Unrealized gains and losses presented represent amounts as of period-end. Unrealized gains and losses recognized during the year for these securities are recorded in earnings.
Schedule of gross unrealized losses and estimated fair value of securities classified as available-for-sale aggregated by length of time the securities have been in a continuous unrealized loss position	The following table shows the gross unrealized losses and estimated fair value of the Company's available-for-sale securities, aggregated by length of time that the individual securities had been in a continuous unrealized loss position as of December 31, 2013 (amounts in thousands):
			Less Than 12 months						12 Months or More						Total
			Estimated			Unrealized			Estimated			Unrealized			Estimated		Unrealized
			Fair			Losses			Fair			Losses			Fair		Losses
			Value						Value						Value
	December 31, 2013
	Securities available-for-sale		$	25,543		$	(658	)	$	30,034		$	(567	)	$	55,577	$	(1,225	)
Schedule of net realized gains (losses) on the sales of available-for-sale securities	The following table shows the net realized gains (losses) on the sales of securities available-for-sale (amounts in thousands):
			For the			Year ended			Year ended
			four months			December 31,			December 31,
			ended			2013			2012
			April 30,
			2014
	Gross realized gains		$	2,516		$	2,829		$	85,982
	Gross realized losses			—			(42	)		(12	)
	Net realized gains (losses)		$	2,516		$	2,787		$	85,970
Schedule of estimated fair value of securities pledged as collateral	The following table summarizes the estimated fair value of securities pledged as collateral as of December 31, 2013 (amounts in thousands):
			As of
			December 31,
			2013
	Pledged as collateral for collateralized loan obligation secured debt		$	324,830
	Total		$	324,830

CORPORATE_LOANS_AND_ALLOWANCE_1

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	12 Months Ended
	Dec. 31, 2014
Successor Company
Summary of corporate loans
Schedule of corporate loans	The following table summarizes the Company's corporate loans, at estimated fair value as of December 31, 2014 (amounts in thousands):
			December 31, 2014
			Par			Amortized			Estimated
						Cost			Fair Value
	Corporate loans, at estimated fair value		$	6,907,373		$	6,710,570		$	6,506,564
	Total		$	6,907,373		$	6,710,570		$	6,506,564
Schedule of realized and unrealized gains (losses) from corporate loans	The following tables present the Company's realized and unrealized gains (losses) from corporate loans for the eight months ended December 31, 2014 (amounts in thousands):
			Eight months
			ended
			December 31,
			2014
	Net realized gains (losses)		$	1,411
	Net change in unrealized gains (losses)			(204,006	)
	Net realized and unrealized gains (losses)		$	(202,595	)
Schedule of corporate loans pledged as collateral	The following table summarizes the corporate loans pledged as collateral as of December 31, 2014 (amounts in thousands):
			As of
			December 31,
			2014
			Estimated
			Fair
			Value
	Pledged as collateral for collateralized loan obligation secured debt		$	6,205,292
	Total		$	6,205,292
Predecessor Company
Summary of corporate loans
Schedule of corporate loans	The following table summarizes the Company's corporate loans as of December 31, 2013 (amounts in thousands):
			December 31, 2013
			Corporate			Corporate			Corporate			Total
			Loans Held			Loans Held			Loans, at			Corporate
			for Investment			for Sale			Estimated			Loans
									Fair Value
	Principal(1)		$	6,280,470		$	315,738		$	277,458		$	6,873,666
	Net unamortized discount			(105,979	)		(20,070	)		(54,997	)		(181,046	)
	Total amortized cost			6,174,491			295,668			222,461			6,692,620
	Lower of cost or fair value adjustment			—			(15,920	)		—			(15,920	)
	Allowance for loan losses			(224,999	)		—			—			(224,999	)
	Net unrealized gains			—			—			15,019			15,019
	Net carrying value		$	5,949,492		$	279,748		$	237,480		$	6,466,720
	-1	Principal amounts of corporate loans and corporate loans held for sale are net of cumulative charge-offs and other adjustments totaling $18.1 million as of December 31, 2013.
Schedule of changes in the allowance for loan losses	The following table summarizes the changes in the allowance for loan losses for the Company's corporate loan portfolio during the four months ended April 30, 2014 and years ended December 31, 2013 and 2012 (amounts in thousands):
			For the four			Year ended			Year ended
			months ended			December 31,			December 31,
			April 30,			2013			2012
			2014
	Allowance for loan losses:
	Beginning balance		$	224,999		$	223,472		$	191,407
	Provision for loan losses			—			32,812			46,498
	Charge-offs			(1,458	)		(31,285	)		(14,433	)
	Ending balance		$	223,541		$	224,999		$	223,472
Schedule of ending balances of allowances for loan losses by basis of impairment method	The following table summarizes the ending balances of the allowance and corporate loans portfolio by basis of impairment method as of December 31, 2013 (amounts in thousands):
			December 31, 2013
	Allowance for loan losses:
	Ending balance: individually evaluated for impairment		$	142,682
	Ending balance: collectively evaluated for impairment			82,317
			$	224,999
	Corporate loans (recorded investment)(1):
	Ending balance: individually evaluated for impairment		$	554,442
	Ending balance: collectively evaluated for impairment			5,638,790
			$	6,193,232
	-1	Recorded investment is defined as amortized cost plus accrued interest.
Schedule of investment and unpaid principal balance in impaired loans, as well as the related allowance for credit losses	The following table summarizes the Company's recorded investment and unpaid principal balance in impaired loans, as well as the related allowance for credit losses as of December 31, 2013 (amounts in thousands):
			December 31, 2013
			Recorded			Unpaid			Related
			Investment(1)			Principal			Allowance
						Balance
	With no related allowance recorded		$	—		$	—		$	—
	With an allowance recorded			554,442			594,416			142,682
	Total		$	554,442		$	594,416		$	142,682
	-1	Recorded investment is defined as amortized cost plus accrued interest.
Schedule of average recorded investment in impaired loans and interest income recognized	The following table summarizes the Company's average recorded investment in impaired loans and interest income recognized for the years ended December 31, 2013 and 2012 (amounts in thousands):
			For the year ended						For the year ended
			December 31, 2013						December 31, 2012
			Average			Interest			Average			Interest
			Recorded			Income			Recorded			Income
			Investment(1)			Recognized			Investment(1)			Recognized
	With no related allowance recorded		$	1,298		$	—		$	3,540		$	208
	With an allowance recorded			524,924			18,194			199,083			9,310
	Total		$	526,222		$	18,194		$	202,623		$	9,518
	-1	Recorded investment is defined as amortized cost plus accrued interest.
Schedule of recorded investment in non-accrual loans	The following table summarizes the Company's recorded investment in non-accrual loans as of December 31, 2013 (amounts in thousands):
			December 31, 2013
	Loans held for investment		$	554,442
	Loans held for sale			44,823
	Loans at estimated fair value			24,883
	Total non-accrual loans		$	624,148
Schedule of recorded investment in corporate loans by internally assigned grades	The following table summarizes how the Company determined internally assigned grades related to credit quality based on a combination of concern as to probability of default and the seniority of the loan in the issuer's capital structure as of December 31, 2013 (amounts in thousands):
	Internally Assigned Grade		Capital Hierarchy		Recorded Investment
					December 31, 2013(1)
	High		Senior Secured Loan		$	26,886
			Second Lien Loan			286,996
			Subordinated			11,643
					$	325,525
	Moderate		Senior Secured Loan		$	1,033,065
			Second Lien Loan			27,504
			Subordinated			39,329
					$	1,099,898
	Low		Senior Secured Loan		$	4,148,913
			Second Lien Loan			25,864
			Subordinated			38,590
					$	4,213,367
			Total Unallocated		$	5,638,790
			Total Allocated			554,442
			Total Loans Held for Investment		$	6,193,232
	-1	Recorded investment is defined as amortized cost plus accrued interest.
Schedule of loans by class modified as troubled debt restructurings	The following table presents the aggregate balance of loans whose terms have been modified in a TDR during the four months ended April 30, 2014 and years ended December 31, 2013 and 2012 (dollar amounts in thousands):
			Four months ended April 30, 2014									Year ended December 31, 2013							Year ended December 31, 2012
			Number			Pre-			Post-			Number			Pre-		Post-		Number		Pre-		Post-
			of TDRs			modification			modification			of TDRs			modification		modification		of TDRs		modification		modification
						outstanding			outstanding						outstanding		outstanding				outstanding		outstanding
						recorded			recorded						recorded		recorded				recorded		recorded
						investment(1)			investment(1)(2)						investment(1)		investment(1)(3)				investment(1)		investment(1)(4)
	Troubled debt restructurings:
	Loans held for investment			1		$	154,075		$	—			2		$	68,358	$	39,430		1	$	13,807	$	4,679
	Loans held for sale			—			—			—			—			—		—		1		53,875		20,886
	Loans at estimated fair value			2			41,347			24,571			1			1,670		1,229		—		—		—
	Total					$	195,422			24,571					$	70,028	$	40,659			$	67,682	$	25,565
	-1	Recorded investment is defined as amortized cost plus accrued interest.
	-2	Excludes equity securities received from the loans held for investment and/or loans at estimated fair value TDRs with an estimated fair value of $92.0 million and $12.3 million, from the two issuers, respectively.
	-3	Excludes equity securities received from the TDRs with an estimated fair value of $2.1 million.
	-4	Excludes equity securities received from the TDRs with an estimated fair value of $9.5 million.
Schedule of corporate loans pledged as collateral	The following table summarizes the corporate loans pledged as collateral as of December 31, 2013 (amounts in thousands):
			As of
			December 31, 2013
			Amortized Cost
	Pledged as collateral for collateralized loan obligation secured debt		$	6,231,541
	Total		$	6,231,541

NATURAL_RESOURCES_ASSETS_Table

NATURAL RESOURCES ASSETS (Tables)	12 Months Ended
	Dec. 31, 2014
NATURAL RESOURCES ASSETS
Summary of the company's oil and gas properties	The following table summarizes the Company's oil and gas properties as of December 31, 2014 and 2013 (amounts in thousands):
		As of			As of
		December 31, 2014			December 31, 2013
	Proved oil and natural gas properties (successful efforts method)	$	128,800		$	451,909
	Unproved oil and natural gas properties		—			16,913
	Less: Accumulated depreciation, depletion and amortization		(8,526	)		(68,453	)
	Oil and gas properties, net	$	120,274		$	400,369

EQUITY_METHOD_INVESTMENTS_Tabl

EQUITY METHOD INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2014
Equty Method Investments
Summarized financial information of equity investments	The following table shows summarized financial information for the Company's equity method investments reported under the fair value option of accounting assuming 100% ownership as of December 31, 2014 and 2013 (amounts in thousands):
			Commercial Real Estate						Other
	Years ended		2014			2013			2014			2013
	Total assets		$	959,488		$	928,157		$	774,073		$	504,985
	Total liabilities		$	836,066		$	699,956		$	208,876		$	119,496
	Redeemable stock		$	—		$	—		$	—		$	—
	Noncontrolling interests		$	—		$	—		$	—		$	—
Successor Company
Equty Method Investments
Summarized financial information of equity investments	The following table shows summarized financial information for the Company's equity method investments reported under the fair value option of accounting assuming 100% ownership for the eight months ended December 31, 2014, four months ended April 30, 2014 and years ended December 31, 2013 and 2012 (amounts in thousands):
			Successor Company
	Eight months ended December 31, 2014		Commercial			Other(2)
			Real Estate(1)
	Revenues		$	77,661		$	27,592
	Expenses		$	80,865		$	22,956
	Net income (loss)		$	(3,024	)	$	(22,907	)
Predecessor Company
Equty Method Investments
Summarized financial information of equity investments	The following table shows summarized financial information for the Company's equity method investments reported under the fair value option of accounting assuming 100% ownership for the eight months ended December 31, 2014, four months ended April 30, 2014 and years ended December 31, 2013 and 2012 (amounts in thousands)
			Predecessor Company
			Commercial Real Estate(1)									Other(2)
			Four months			Year ended			Year ended			Four months		Year ended			Year ended
			ended			December 31, 2013			December 31, 2012			ended		December 31, 2013			December 31, 2012
			April 30, 2014									April 30, 2014
	Revenues		$	30,338		$	83,300		$	19,208		$	6,545	$	4,718		$	—
	Expenses		$	36,914		$	96,883		$	27,772		$	6,120	$	5,268		$	—
	Net income (loss)		$	(6,576	)	$	(13,583	)	$	(8,564	)	$	12,252	$	(2,561	)	$	—
	-1	Expenses include operating costs, professional fees, management fees, depreciation and amortization and acquisition costs.
	-2	Revenues and expenses exclude realized and unrealized gains and losses.

BORROWINGS_Tables

BORROWINGS (Tables)	12 Months Ended
	Dec. 31, 2014
Successor Company
Borrowings
Schedule of Company's borrowings	Certain information with respect to the Company's borrowings as of December 31, 2014 is summarized in the following table (dollar amounts in thousands):
			Par		Carrying			Weighted			Weighted		Collateral(2)
					Value(1)			Average			Average
								Borrowing			Remaining
								Rate			Maturity
											(in days)
	CLO 2005-1 senior secured notes		$	192,384	$	192,260			1.84	%		847	$	224,716
	CLO 2005-2 senior secured notes			242,928		242,365			0.68			1,061		381,362
	CLO 2006-1 senior secured notes			166,841		166,710			1.28			1,333		400,165
	CLO 2007-1 senior secured notes			1,906,409		1,891,228			0.80			2,327		2,182,078
	CLO 2007-1 mezzanine notes			489,723		486,575			3.84			2,327		560,538
	CLO 2007-1 subordinated notes(3)			134,468		119,112			13.75			2,327		153,912
	CLO 2007-A subordinated notes(3)			15,096		25,921			88.02			1,019		66,044
	CLO 2011-1 senior debt			402,515		402,515			1.58			1,323		508,625
	CLO 2012-1 senior secured notes			367,500		364,063			2.33			3,637		365,662
	CLO 2012-1 subordinated notes(3)			18,000		12,986			16.86			3,637		17,910
	CLO 2013-1 senior secured notes			458,500		441,153			1.96			3,849		477,691
	CLO 2013-2 senior secured notes			339,250		331,383			2.21			4,041		357,722
	CLO 9 senior secured notes			463,750		449,349			2.28			4,306		474,072
	CLO 9 subordinated notes(3)			15,000		13,531			—			4,306		15,334
	CLO 10 senior notes			368,000		361,948			2.50			4,002		343,090
	Total collateralized loan obligation secured debt			5,580,364		5,501,099								6,528,921
	8.375% Senior notes			258,750		290,861			8.38			9,816		—
	7.500% Senior notes			115,043		123,663			7.50			9,941		—
	Junior subordinated notes			283,517		246,907			5.39			7,949		—
	Total borrowings		$	6,237,674	$	6,162,530							$	6,528,921
	-1	Carrying value represents estimated fair value for the collateralized loan obligation secured debt and amortized cost for all other borrowings.
	-2	Collateral for borrowings consists of the estimated fair value of certain corporate loans, securities and equity investments at estimated fair value. For purposes of this table, collateral for CLO senior, mezzanine and subordinated notes are calculated pro rata based on the par amount for each respective CLO.
	-3	Subordinated notes do not have a contractual coupon rate, but instead receive a pro rata amount of the net distributions from each respective CLO. Accordingly, weighted average borrowing rates for the subordinated notes are based on cash distributions during the year ended December 31, 2014, if any.
Schedule of Company's contractual obligations (excluding interest) under borrowing agreements	The table below summarizes the Company's contractual obligations (excluding interest) under borrowing agreements as of December 31, 2014 (amounts in thousands):
			Payments Due by Period
			Total		Less than			1 - 3			3 - 5		More than 5
					1 year			years			years		years
	CLO 2005-1 notes		$	192,384	$	—		$	192,384		$	—	$	—
	CLO 2005-2 notes			242,928		—			242,928			—		—
	CLO 2006-1 notes			166,841		—			—			166,841		—
	CLO 2007-1 notes			2,530,600		—			—			—		2,530,600
	CLO 2007-A notes			15,096		—			15,096			—		—
	CLO 2011-1 debt			402,515		—			—			402,515		—
	CLO 2012-1 notes			385,500		—			—			—		385,500
	CLO 2013-1 notes			458,500		—			—			—		458,500
	CLO 2013-2 notes			339,250		—			—			—		339,250
	CLO 9 notes			478,750		—			—			—		478,750
	CLO 10 notes			368,000		—			—			—		368,000
	Senior notes			373,793		—			—			—		373,793
	Junior subordinated notes			283,517		—			—			—		283,517
	Total		$	6,237,674	$	—		$	450,408		$	569,356	$	5,217,910
Predecessor Company
Borrowings
Schedule of Company's borrowings	Certain information with respect to the Company's borrowings as of December 31, 2013 is summarized in the following table (dollar amounts in thousands):
			Outstanding		Weighted			Weighted			Collateral(1)
			Borrowings		Average			Average
					Borrowing			Remaining
					Rate			Maturity
								(in days)
	CLO 2005-1 senior secured notes		$	193,909		0.73	%		1,212		$	303,104
	CLO 2005-2 senior secured notes			335,570		0.63			1,426			496,917
	CLO 2006-1 senior secured notes			384,925		0.69			1,698			649,894
	CLO 2007-1 senior secured notes			2,075,040		0.79			2,692			2,354,938
	CLO 2007-1 mezzanine notes			406,428		3.65			2,692			461,250
	CLO 2007-1 subordinated notes(2)			136,097		18.15			2,692			154,456
	CLO 2007-A senior secured notes			428,152		1.57			1,384			540,677
	CLO 2007-A mezzanine notes			55,327		7.44			1,384			69,867
	CLO 2007-A subordinated notes(2)			15,096		42.22			1,384			19,063
	CLO 2011-1 senior debt			388,703		1.25			1,688			517,597
	CLO 2012-1 senior secured notes			362,727		2.34			4,002			376,603
	CLO 2012-1 subordinated notes(2)			18,000		11.67			4,002			18,689
	CLO 2013-1 senior secured notes			449,409		1.98			4,214			468,915
	Total collateralized loan obligation secured debt			5,249,383								6,431,970
	Senior secured credit facility(3)			75,000		1.39			699			—
	2015 Asset-based borrowing facility			50,289		2.42			674			213,935
	2018 Asset-based borrowing facility(4)			—		—			1,519			—
	Total credit facilities			125,289								213,935
	8.375% Senior notes			250,800		8.38			10,181			—
	7.500% Senior notes			111,476		7.50			10,306			—
	Junior subordinated notes			283,517		5.39			8,347			—
	Total borrowings		$	6,020,465							$	6,645,905
	-1	Collateral for borrowings consists of the estimated fair value of certain corporate loans, securities available-for-sale and equity investments at estimated fair value. Also includes the carrying value of oil and gas assets. For purposes of this table, collateral for CLO senior, mezzanine and subordinated notes are calculated pro rata based on the outstanding borrowings for each respective CLO.
	-2	Subordinated notes do not have a contractual coupon rate, but instead receive a pro rata amount of the net distributions from each respective CLO. Accordingly, weighted average borrowing rates for the subordinated notes were calculated based on year-to-date estimated distributions, if any.
	-3	Capital stock of material domestic and foreign subsidiaries, as defined by the senior secured credit facility agreement, are eligible to be pledged as collateral. As of December 31, 2013, the total investments held within these eligible subsidiaries exceeded the amount of the outstanding debt.
	-4	Borrowing rates range from 1.75% to 3.25% plus London interbank offered rate ("LIBOR") per annum based on the amount outstanding.

DERIVATIVE_INSTRUMENTS_Tables

DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2014
Derivative Instruments
Schedule of aggregate notional amount and estimated net fair value of the derivative instruments	The table below summarizes the aggregate notional amount and estimated net fair value of the derivative instruments as of December 31, 2014 and 2013 (amounts in thousands):
			As of						As of
			December 31, 2014						December 31, 2013
			Notional			Estimated			Notional			Estimated
						Fair Value						Fair Value
	Cash Flow Hedges:
	Interest rate swaps		$	—		$	—		$	478,333		$	(42,078	)
	Free-Standing Derivatives:
	Interest rate swaps			426,000			(54,071	)		—			—
	Commodity swaps			—			—			—			1,493
	Credit default swaps—protection purchased			—			—			(100,000	)		(2,019	)
	Foreign exchange forward contracts			(442,181	)		27,428			(320,380	)		(25,258	)
	Foreign exchange options			—			—			129,900			8,941
	Common stock warrants			—			—			—			945
	Total rate of return swaps			—			(130	)		—			(229	)
	Options			—			5,212			—			6,794
	Total					$	(21,561	)				$	(51,411	)
Schedule of effect on income from free-standing derivatives by derivative instrument type	The following table presents the amounts recorded in net realized and unrealized gain (loss) on derivatives and foreign exchange on the consolidated statements of operations for the eight months ended December 31, 2014 and four months ended April 30, 2014 (amounts in thousands):
			Successor Company											Predecessor Company
			Eight months ended											Four months ended
			December 31, 2014											April 30, 2014
			Realized			Unrealized								Realized			Unrealized
			gains			gains			Total					gains			gains			Total
			(losses)			(losses)								(losses)			(losses)
	Interest rate swaps		$	—		$	(6,890	)	$	(6,890	)			$	—		$	—		$	—
	Commodity swaps			(962	)		(698	)		(1,660	)				(2,515	)		(5,856	)		(8,371	)
	Credit default swaps(1)			—			—			—					(2,167	)		1,986			(181	)
	Foreign exchange forward contracts and options(2)			(6,609	)		(1,561	)		(8,170	)				(2,068	)		2,784			716
	Common stock warrants			1,237			(1,082	)		155					—			137			137
	Total rate of return swaps			(286	)		(184	)		(470	)				(2,349	)		284			(2,065	)
	Options			—			(1,472	)		(1,472	)				—			(19	)		(19	)
	Net realized and unrealized gains (losses)		$	(6,620	)	$	(11,887	)	$	(18,507	)			$	(9,099	)	$	(684	)	$	(9,783	)
	-1	Includes related income and expense on the derivatives.
	-2	Net of foreign exchange remeasurement gain or loss on foreign denominated assets.
Predecessor Company
Derivative Instruments
Schedule of net (losses) gains recognized in accumulated other comprehensive loss related to derivatives in cash flow hedging relationships	The following table presents the net gains (losses) recognized in other comprehensive loss related to derivatives in cash flow hedging relationships for the four months ended April 30, 2014 and years ended December 31, 2013 and 2012 (amounts in thousands):
			For the four			Year ended			Year ended
			months ended			December 31,			December 31,
			April 30, 2014			2013			2012
	Net gains (losses) recognized in other comprehensive loss on cash flow hedges		$	(5,442	)	$	48,479		$	10,169
Schedule of effect on income from free-standing derivatives by derivative instrument type	The following table presents the amounts recorded in net realized and unrealized gain (loss) on derivatives and foreign exchange on the consolidated statements of operations for the years ended December 31, 2013 and 2012 (amounts in thousands):
			Predecessor Company
			Year ended December 31, 2013									Year ended December 31, 2012
			Realized			Unrealized			Total			Realized			Unrealized			Total
			gains			gains						gains			gains
			(losses)(1)			(losses)						(losses)(1)			(losses)
	Commodity swaps		$	1,296		$	(5,562	)	$	(4,266	)	$	3,554		$	721		$	4,275
	Credit default swaps			(4,408	)		188			(4,220	)		(6,079	)		942			(5,137	)
	Foreign exchange forward contracts and options(2)			1,104			(2,096	)		(992	)		(503	)		(2,544	)		(3,047	)
	Common stock warrants			2,327			(1,503	)		824			691			986			1,677
	Total rate of return swaps			1,803			(229	)		1,574			—			141			141
	Options			(91	)		333			242			—			—			—
	Net realized and unrealized gains (losses)		$	2,031		$	(8,869	)	$	(6,838	)	$	(2,337	)	$	246		$	(2,091	)
	-1	Includes related income and expense on the derivatives.
	-2	Net of foreign exchange remeasurement gain or loss on foreign denominated assets.

SHAREHOLDERS_EQUITY_Tables

SHAREHOLDERS' EQUITY (Tables) (Predecessor Company)	12 Months Ended
	Dec. 31, 2014
Predecessor Company
Stock-based compensation
Schedule of restricted common share transactions
		Manager			Directors			Total
	Unvested shares as of December 31, 2011		240,845			145,676			386,521
	Issued		258,303			43,557			301,860
	Vested		(60,211	)		(96,980	)		(157,191	)
	Unvested shares as of December 31, 2012		438,937			92,253			531,190
	Issued		292,009			39,288			331,297
	Vested		(146,312	)		(46,347	)		(192,659	)
	Unvested shares as of December 31, 2013		584,634			85,194			669,828
	Issued		—			—			—
	Vested and cancelled		(243,648	)		—			(243,648	)
	Unvested shares as of April 30, 2014		340,986			85,194			426,180
Schedule of common share option transactions
		Number of			Weighted
		Options			Average
					Exercise Price
	Outstanding as of December 31, 2011		1,932,279		$	20.00
	Granted		—			—
	Exercised		—			—
	Forfeited		—			—
	Outstanding as of December 31, 2012		1,932,279		$	20.00
	Granted		—			—
	Exercised		—			—
	Forfeited		—			—
	Outstanding as of December 31, 2013		1,932,279		$	20.00
	Granted		—			—
	Exercised		—			—
	Forfeited		—			—
	Outstanding as of April 30, 2014		1,932,279		$	20.00
Schedule of share-based compensation expense	For the four months ended April 30, 2014 and years ended December 31, 2013 and 2012, the components of share-based compensation expense were as follows (amounts in thousands):
		Predecessor Company
		For the			Year ended			Year ended
		four months			December 31,			December 31,
		ended			2013			2012
		April 30,
		2014
	Restricted shares granted to Manager	$	690		$	3,524		$	2,270
	Restricted shares granted to certain directors		328			1,035			932
	Total share-based compensation expense	$	1,018		$	4,559		$	3,202

MANAGEMENT_AGREEMENT_AND_RELAT1

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2014
Management Agreement and Related Party Transactions
Summary of components of related party management compensation	The following table summarizes the components of related party management compensation on the Company's consolidated statements of operations, which are described in further detail below (amounts in thousands):
			Successor			Predecessor Company
			Company
			For the			For the
			eight months			four months			For the			For the
			ended			ended			year ended			year ended
			December 31,			April 30,			December 31,			December 31,
			2014			2014			2013			2012
	Base management fees, net		$	15,145		$	5,253		$	25,029		$	28,244
	CLO management fees			18,619			11,016			17,282			4,237
	Incentive fees			—			12,882			22,741			37,588
	Manager share-based compensation			—			690			3,524			2,270
	Total related party management compensation		$	33,764		$	29,841		$	68,576		$	72,339
Summary of estimated fair value of contributions and distributions	The table below summarizes the estimated fair value of certain contributions and distributions at the time of transfer, which may differ from the carrying value of assets transferred (amounts in thousands):
			Eight months
			ended
			December 31,
			2014
	Cash		$	235,759
	Securities			116,526
	Loans			16,049
	Equity investments, at estimated fair value			38,346
	Interests in joint ventures and partnerships			67,310
	Other			854
	Total contributions from Parent		$	474,844
	Cash		$	192,037
	Equity investments, at estimated fair value			101,042
	Oil and gas properties, net			179,203
	Total distributions to Parent		$	472,282
Base Management Fees
Management Agreement and Related Party Transactions
Summary of components of related party management compensation	The table below summarizes the aggregate base management fees (amounts in thousands):
			Successor			Predecessor Company
			Company
			For the			For the
			eight months			four months			For the			For the
			ended			ended			year ended			year ended
			December 31,			April 30,			December 31,			December 31,
			2014			2014			2013			2012
	Base management fees, gross		$	25,883		$	13,364		$	39,065		$	28,244
	CLO management fees credit(1)			(9,968	)		(8,111	)		(10,042	)		—
	Other related party fees credit			(770	)		—			(3,994	)		—
	Total base management fees, net		$	15,145		$	5,253		$	25,029		$	28,244
	-1	See "CLO Management Fees" for further discussion.
CLO Management Fees
Management Agreement and Related Party Transactions
Summary of components of related party management compensation	The table below summarizes the aggregate CLO management fees, including the Fee Credits (amounts in thousands):
			Successor			Predecessor Company
			Company
			For the			For the
			eight months			four months			For the			For the
			ended			ended			year ended			year ended
			December 31,			April 30,			December 31,			December 31,
			2014			2014			2013			2012
	Charged and retained CLO management fees(1)		$	8,651		$	2,905		$	7,240		$	4,237
	CLO management fees credit			9,968			8,111			10,042			—
	Total CLO management fees		$	18,619		$	11,016		$	17,282		$	4,237
	-1	Represents management fees incurred by the senior and subordinated note holders of a CLO, excluding the Fee Credits received by the Company based on its ownership percentage in the CLO.

INCOME_TAXES_Tables

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2014
INCOME TAXES
Schedule of components of income tax provision	The income tax expense (benefit) for the four months ended April 30, 2014, eight months ended December 31, 2014 and years ended December 31, 2013 and 2012 consisted of the following components (amounts in thousands):
		Successor Company					Predecessor Company
		Eight months					Four months			Year ended			Year ended
		ended					ended			December 31, 2013			December 31, 2012
		December 31, 2014					April 30, 2014
	Current:
	Federal income tax	$	(63	)			$	(4,304	)	$	2,988		$	3,514
	State income tax		126					137			480			759
	Total		63					(4,167	)		3,468			4,273
	Deferred:
	Federal income tax		343					4,329			(3,001	)		(6,221	)
	State income tax		78					—			—			(1,519	)
	Total		421					4,329			(3,001	)		(7,740	)
	Total income tax expense (benefit)	$	484				$	162		$	467		$	(3,467	)
Schedule of reconciliation of income before taxes at the statutory rate to the effective tax expense (benefit)	The following table presents a reconciliation of income before taxes at the statutory rate to the effective tax expense (benefit) for the eight months ended December 31, 2014, four months ended April 30, 2014, and each of the years ended December 31, 2013 and 2012 (amounts in thousands):
		Successor Company					Predecessor Company
		Eight months					Four months			Year ended			Year ended
		ended					ended			December 31, 2013			December 31, 2012
		December 31, 2014					April 30, 2014
	Income before taxes at statutory rate	$	(76,561	)			$	37,150		$	102,794		$	120,667
	Income passed through to shareholders		83,098					(34,377	)		(93,260	)		(118,983	)
	REIT income not subject to tax		(6,072	)				(2,773	)		(9,141	)		(4,681	)
	State and local income taxes, net of federal benefit		82					88			(464	)		(414	)
	Withholding taxes		21					25			172			72
	Other		(84	)				49			366			(128	)
	Effective tax expense (benefit)	$	484				$	162		$	467		$	(3,467	)
Schedule of components of deferred tax assets and liabilities	The significant components of deferred tax assets and liabilities are reflected in the following table as of December 31, 2014 and 2013 (amounts in thousands):
		As of			As of
		December 31, 2014			December 31, 2013
	Deferred tax assets:
	Unrealized losses from investments in domestic corporate subsidiaries	$	—		$	4,329
	Total deferred tax assets					4,329
	Deferred tax liabilities:
	Unrealized gains from investments in domestic corporate subsidiaries	$	421			—
	Total deferred tax liabilities		421			—
	Net deferred tax assets (liabilities)	$	(421	)	$	4,329

FAIR_VALUE_OF_FINANCIAL_INSTRU1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2014
Successor Company
Carrying value and the estimated fair value of the financial instruments
Schedule of carrying value and estimated fair value, as well as the respective hierarchy classifications, of the financial assets and liabilities that are not carried at estimated fair value	The following table presents the carrying value and estimated fair value, as well as the respective hierarchy classifications, of the Company's financial assets and liabilities that are not carried at estimated fair value on a recurring basis as of December 31, 2014 (amounts in thousands):
			Successor Company
			As of						Fair Value Hierarchy
			December 31, 2014						Quoted Prices in			Significant			Significant
									Active Markets			Other			Unobservable
									for Identical			Observable			Inputs
			Carrying			Estimated			Assets (Level 1)			Inputs (Level 2)			(Level 3)
			Amount			Fair Value
	Assets:
	Cash, restricted cash, and cash equivalents		$	610,912		$	610,912		$	610,912		$	—		$	—
	Liabilities:
	Senior notes			414,524			413,215			413,215			—			—
	Junior subordinated notes			246,907			228,087			—			—			228,087
Schedule of fair value of financial assets and liabilities measured on a recurring basis	The following table presents information about the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (amounts in thousands):
			Successor Company
			Quoted Prices in			Significant			Significant			Balance as of
			Active Markets			Other			Unobservable			December 31,
			for Identical			Observable			Inputs			2014
			Assets (Level 1)			Inputs (Level 2)			(Level 3)
	Assets:
	Securities:
	Corporate debt securities		$	—		$	266,387		$	317,034		$	583,421
	Residential mortgage-backed securities			—			—			55,184			55,184
	Total securities			—			266,387			372,218			638,605
	Corporate loans			—			6,159,487			347,077			6,506,564
	Equity investments, at estimated fair value			25,692			73,967			81,719			181,378
	Interests in joint ventures and partnerships			—			—			718,772			718,772
	Other assets			—			4,645			—			4,645
	Derivatives:
	Foreign exchange forward contracts			—			28,354			—			28,354
	Options			—			—			5,212			5,212
	Total derivatives			—			28,354			5,212			33,566
	Total		$	25,692		$	6,532,840		$	1,524,998		$	8,083,530
	Liabilities:
	Collateralized loan obligation secured notes		$	—		$	—		$	5,501,099		$	5,501,099
	Derivatives:
	Interest rate swaps			—			54,071			—			54,071
	Foreign exchange forward contracts			—			926			—			926
	Total rate of return swaps			—			130			—			130
	Total derivatives			—			55,127			—			55,127
	Total		$	—		$	55,127		$	5,501,099		$	5,556,226
Schedule of additional information about assets and liabilities, including derivatives, that are measured at fair value on a recurring basis	The following table presents additional information about assets and liabilities, including derivatives, that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value, for the eight months ended December 31, 2014 (amounts in thousands):
			Successor Company
			Assets																					Liabilities
			Corporate			Residential			Corporate			Equity			Interests in			Foreign			Options			Collateralized
			Debt			Mortgage-			Loans			Investments,			Joint			Exchange						Loan
			Securities			Backed						at Estimated			Ventures and			Options,						Obligation
						Securities						Fair Value			Partnerships			Net						Secured Notes
	Beginning balance as of May 1, 2014		$	156,500		$	59,623		$	294,218		$	157,765		$	472,467		$	8,854		$	6,684		$	5,663,665
	Total gains or losses (for the period):
	Included in earnings(1)			(16,973	)		4,981			(15,346	)		(2,005	)		(102,158	)		(8,854	)		(1,472	)		(4,123	)
	Transfers into Level 3(2)			—			—			66,250			—			—			—			—			—
	Transfers out of Level 3(3)			—			—			—			(1,230	)		—			—			—			—
	Purchases			83,402			—			2,588			—			90,566			—			—			885,983
	Sales			(26,433	)		—			(2,912	)		(17,535	)		(13,795	)		—			—			—
	Settlements			120,538			(9,420	)		2,279			(55,276	)		271,692			—			—			(1,044,426	)
	Ending balance as of December 31, 2014		$	317,034		$	55,184		$	347,077		$	81,719		$	718,772		$	—		$	5,212		$	5,501,099
	Change in unrealized gains or losses for the eight months ended December 31, 2014 included in earnings for assets held at the end of the reporting period(1)		$	(16,787	)	$	386		$	(15,305	)	$	(791	)	$	(106,215	)	$	—		$	(1,472	)	$	(4,393	)
	-1	Amounts are included in net realized and unrealized gain (loss) on investments or net realized and unrealized gain (loss) on derivatives and foreign exchange in the consolidated statements of operations. Amounts for collateralized loan obligation secured notes, which represent liabilities measured at fair value, are included in net realized and unrealized gain (loss) on debt in the consolidated statements of operations.
	-2	Corporate loans were transferred into Level 3 because observable market data was no longer available.
	-3	Equity investments, at estimated fair value were transferred out of Level 3 because observable market data became available.
Summary of valuation techniques used for assets and liabilities, measured at fair value and categorized within level 3	The following table presents additional information about valuation techniques and inputs used for assets and liabilities, including derivatives, that are measured at fair value and categorized within Level 3 as of December 31, 2014 (dollar amounts in thousands):
	Successor Company
			Balance as of			Valuation		Unobservable		Weighted		Range		Impact to
			December 31,			Techniques(1)		Inputs(2)		Average(3)				Valuation
			2014											from an
														Increase in
														Input(4)
	Assets:
	Corporate debt securities		$	317,034		Yield analysis		Yield		17%		3% - 19%		Decrease
								Net leverage		6x		5x - 12x		Decrease
								EBITDA multiple		7x		4x - 11x		Increase
								Discount margin		905bps		625bps - 1100bps		Decrease
						Broker quotes		Offered quotes		101		101		Increase
	Residential mortgage—backed		$	55,184		Discounted cash flows		Probability of default		8%		0% - 21%		Decrease
	securities							Loss severity		26%		12% - 45%		Decrease
								Constant prepayment rate		12%		4% - 19%		-5
	Corporate loans		$	347,077		Yield Analysis		Yield		12%		3% - 21%		Decrease
								Net leverage		6x		1x - 13x		Decrease
								EBITDA multiple		9x		5x - 12x		Increase
	Equity investments, at estimated fair value(6)		$	81,719		Inputs to both market comparables and		Weight ascribed to market comparables		97%		0% - 100%		-7
						discounted cash flow		Weight ascribed to		83%		0% - 100%		-8
								discounted cash flows
						Market comparables		LTM EBITDA multiple		4x		1x - 12x		Increase
								Forward EBITDA multiple		7x		4x - 11x		Increase
						Discounted cash flows		Weighted average cost of capital		13%		9% - 16%		Decrease
								LTM EBITDA exit multiple		8x		5x - 10x		Increase
	Interests in joint ventures and partnerships(9)		$	718,772		Inputs to both market comparables and		Weight ascribed to market comparables		54%		0% - 100%		-7
						discounted cash flow		Weight ascribed to		79%		0% - 100%		-8
								discounted cash flows
						Market comparables		Current capitalization rate		7%		4% - 15%		Decrease
								LTM EBITDA multiple		11x		10x - 13x		Increase
								Control Premium		15%		15%		Increase
						Discounted cash flows		Weighted average cost of capital		12%		7% - 20%		Decrease
								Average price per BOE(10)		$30.16		$21.46 - $35.67		Increase
	Options(11)		$	5,212		Inputs to both market comparables and		Weight ascribed to market comparables		50%		50%		-7
						discounted cash flow		Weight ascribed to		50%		50%		-8
								discounted cash flows
						Market comparables		LTM EBITDA multiple		9x		9x		Increase
						Discounted cash flows		Weighted average cost of capital		14%		14%		Decrease
								LTM EBITDA exit multiple		11x		11x		Increase
	Liabilities:
	Collateralized loan obligation secured notes		$	5,501,099		Yield analysis		Discount margin		255bps		95bps - 1000bps		Decrease
						Discounted cash flows		Probability of default		3%		2% - 3%		Decrease
								Loss severity		32%		30% - 37%		Decrease
	-1	For the assets that have more than one valuation technique, the Company may rely on the techniques individually or in aggregate based on a weight ascribed to each one ranging from 0-100%. When determining the weighting ascribed to each valuation methodology, the Company considers, among other factors, the availability of direct market comparables, the applicability of a discounted cash flow analysis and the expected hold period and manner of realization for the investment. These factors can result in different weightings among the investments and in certain instances, may result in up to a 100% weighting to a single methodology. Broker quotes obtained for valuation purposes are reviewed by the Company through other valuation techniques.
	-2	In determining certain of these inputs, management evaluates a variety of factors including economic conditions, industry and market developments; market valuations of comparable companies; and company specific developments including exit strategies and realization opportunities.
	-3	Weighted average amounts are based on the estimated fair values.
	-4	Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.
	-5	The impact of changes in prepayment speeds may have differing impacts depending on the seniority of the instrument. Generally, an increase in the constant prepayment speed will positively impact the overall valuation of traditional mortgage assets. In contrast, an increase in the constant prepayment rate will negatively impact the overall valuation of interest-only strips.
	-6	When determining the illiquidity discount to be applied to equity investments, at estimated fair value, the Company seeks to take a uniform approach across its portfolio and generally applies a minimum 5% discount to all private equity investments carried at estimated fair value. The Company then evaluates such investments to determine if factors exist that could make it more challenging to monetize the investment and, therefore, justify applying a higher illiquidity discount. These factors generally include the salability of the investment, whether the issuer is undergoing significant restructuring activity or similar factors, as well as characteristics about the issuer including its size and/or whether it is experiencing, or expected to experience, a significant decline in earnings. Depending on the applicability of these factors, the Company determines the amount of any incremental illiquidity discount to be applied above the 5% minimum, and during the time the Company holds the investment, the illiquidity discount may be increased or decreased, from time to time, based on changes to these factors. The amount of illiquidity discount applied at any time requires considerable judgment about what a market participant would consider and is based on the facts and circumstances of each individual investment. Accordingly, the illiquidity discount ultimately considered by a market participant upon the realization of any investment may be higher or lower than that estimated by the Company in its valuations. Of the $81.7 million, $9.5 million was valued solely using a discounted cash flow technique, while $67.4 million was valued solely using a market comparables technique.
	-7	The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level 3 investments if the market comparables approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach.
	-8	The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level 3 investments if the discounted cash flow approach results in a higher valuation than the market comparables approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach.
	-9	Inputs exclude an asset that was valued using an independent third party valuation firm. Of the $718.8 million, $207.6 million was valued solely using a discounted cash flow technique, while $20.4 million was valued solely using a market comparables technique.
	-10	Natural resources assets with an estimated fair value of $176.4 million as of December 31, 2014 were valued using commodity prices. Commodity prices may be measured using a common volumetric equivalent where one barrel of oil equivalent ("BOE") is determined using the ratio of six thousand cubic feet of natural gas to one barrel of oil, condensate or natural gas liquids. The price per BOE is provided to show the aggregate of all price inputs for these investments over a common volumetric equivalent although the valuations for specific investments may use price inputs specific to the asset for purposes of our valuations. The discounted cash flows include forecasted production of liquids (oil, condensate, and natural gas liquids) and natural gas with a forecasted revenue ratio of approximately 23% liquids and 77% natural gas.
	-11	The entire $5.2 million was valued using 50% a discount cash flow technique and 50% a market comparables technique.
Predecessor Company
Carrying value and the estimated fair value of the financial instruments
Schedule of carrying value and estimated fair value, as well as the respective hierarchy classifications, of the financial assets and liabilities that are not carried at estimated fair value	The following table presents the carrying value and estimated fair value, as well as the respective hierarchy classifications, of the Company's financial assets and liabilities that are not carried at estimated fair value on a recurring basis as of December 31, 2013 (amounts in thousands):
			Predecessor Company
			As of						Fair Value Hierarchy
			December 31, 2013						Quoted Prices in			Significant			Significant
									Active Markets			Other			Unobservable
									for Identical			Observable			Inputs
			Carrying			Estimated			Assets (Level 1)			Inputs (Level 2)			(Level 3)
			Amount			Fair Value
	Assets:
	Cash, restricted cash, and cash equivalents		$	507,552		$	507,552		$	507,552		$	—		$	—
	Corporate loans, net of allowance for loan losses of $224,999 as of December 31, 2013(1)			5,949,492			6,051,641			—			5,691,988			359,653
	Corporate loans held for sale(1)			279,748			281,278			—			267,169			14,109
	Private equity investments, at cost(2)			405			4,496			—			—			4,496
	Other assets			5,763			5,513			—			5,513			—
	Liabilities:
	Collateralized loan obligation secured debt		$	5,249,383		$	5,179,207		$	—		$	—		$	5,179,207
	Credit facilities			125,289			125,289			—			—			125,289
	Senior notes			362,276			393,772			393,772			—			—
	Junior subordinated notes			283,517			247,416			—			—			247,416
	-1	Corporate loans held for investment are carried at amortized cost net of allowance for loan losses, while corporate loans held for sale are carried at the lower of cost or estimated fair value. Refer to "Fair Value Measurements" for a table presenting the corporate loans which are measured at fair value on a non-recurring basis.
	-2	Included within other assets on the consolidated balance sheets.
Schedule of fair value of financial assets and liabilities measured on a recurring basis	The following table presents information about the Company's assets and liabilities measured at fair value on a recurring basis as of December 31, 2013, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (amounts in thousands):
			Predecessor Company
			Quoted Prices in			Significant			Significant			Balance as of
			Active Markets			Other			Unobservable			December 31,
			for Identical			Observable			Inputs			2013
			Assets (Level 1)			Inputs (Level 2)			(Level 3)
	Assets:
	Securities:
	Securities available-for-sale		$	—		$	326,940		$	23,401		$	350,341
	Other securities, at estimated fair value			—			39,437			107,530			146,967
	Residential mortgage-backed securities			—			—			76,004			76,004
	Total securities			—			366,377			206,935			573,312
	Corporate loans, at estimated fair value			—			84,680			152,800			237,480
	Equity investments, at estimated fair value			39,515			3,638			138,059			181,212
	Interests in joint ventures and partnerships			14,836			—			415,247			430,083
	Derivatives:
	Interest rate swaps			—			3,290			—			3,290
	Commodity swaps			—			5,408			—			5,408
	Foreign exchange forward contracts			—			4,846			—			4,846
	Foreign exchange options			—			—			8,941			8,941
	Common stock warrants			—			945			—			945
	Options			—			—			6,794			6,794
	Total derivatives			—			14,489			15,735			30,224
	Total		$	54,351		$	469,184		$	928,776		$	1,452,311
	Liabilities:
	Derivatives:
	Interest rate swaps			—			45,368			—			45,368
	Commodity swaps			—			3,915			—			3,915
	Credit default swaps—protection purchased			—			2,019			—			2,019
	Foreign exchange forward contracts			—			30,104			—			30,104
	Total rate of return swaps			—			229			—			229
	Total derivatives			—			81,635			—			81,635
	Total		$	—		$	81,635		$	—		$	81,635
Schedule of fair value of assets measured on a non-recurring basis	The following table presents information about the Company's assets measured at fair value on a non-recurring basis as of December 31, 2013, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (amounts in thousands). There were no liabilities measured at fair value on a non-recurring basis:
			Quoted Prices in			Significant Other			Significant			Balance as of
			Active Markets			Observable			Unobservable			December 31,
			for Identical			Inputs (Level 2)			Inputs (Level 3)			2013
			Assets (Level 1)
	Corporate loans held for sale(1)		$	—		$	90,485		$	5,568		$	96,053
	Total		$	—		$	90,485		$	5,568		$	96,053
	-1	As of December 31, 2013, total loans held for sale had a carrying value of $279.7 million of which $96.1 million was carried at estimated fair value and the remaining $183.6 million carried at amortized cost.
Schedule of additional information about assets and liabilities, including derivatives, that are measured at fair value on a recurring basis	The following table presents additional information about assets, including derivatives, that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value, for the four months ended April 30, 2014 (amounts in thousands):
			Predecessor Company
			Securities			Other			Residential			Corporate			Equity			Interests in			Foreign			Options
			Available-			Securities,			Mortgage-			Loans, at			Investments,			Joint			Exchange
			For-Sale			at Estimated			Backed			Estimated			at Estimated			Ventures and			Options,
						Fair Value			Securities			Fair Value			Fair Value			Partnerships			Net
	Beginning balance as of January 1, 2014		$	23,401		$	107,530		$	76,004		$	152,800		$	138,059		$	415,247		$	8,941		$	6,794
	Total gains or losses (for the period):
	Included in earnings(1)			22			3,059			3,088			(5,123	)		9,076			22,377			(813	)		(302	)
	Included in other comprehensive income			121			—			—			—			—			—			—			—
	Transfers into Level 3			—			—			—			—			—			—			—			—
	Transfers out of Level 3(3)			—			—			—			—			(8,751	)		—			—			—
	Purchases			—			25,000			—			8,822			—			42,683			—			—
	Sales			—			—			(17,810	)		—			—			—			—			—
	Settlements			(16	)		(10,078	)		(2,529	)		(3,104	)		120,593			14,113			—			—
	Ending balance as of March 31, 2014			23,528			125,511			58,753			153,395			258,977			494,420			8,128			6,492
	Total gains or losses (for the period):
	Included in earnings(1)			44			479			1,416			1,240			12,126			(24,158	)		726			192
	Included in other comprehensive income			33			—			—			—			—			—			—			—
	Transfers into Level 3(2)			6,937			—			—			—			—			—			—			—
	Transfers out of Level 3(3)			—			—			—			—			(119,033	)		—			—			—
	Purchases			—			—			—			—			—			1,615			—			—
	Sales			—			—			—			—			—			—			—			—
	Settlements			(32	)		—			(546	)		2,272			—			(1,184	)		—			—
	Ending balance as of April 30, 2014		$	30,510		$	125,990		$	59,623		$	156,907		$	152,070		$	470,693		$	8,854		$	6,684
	Change in unrealized gains or losses for the period included in earnings for the four months ended April 30, 2014 for assets held at the end of the reporting period(1)		$	66		$	2,683		$	5,242		$	4,445		$	20,499		$	(1,781	)	$	(87	)	$	(110	)
	-1	Amounts are included in net realized and unrealized gain (loss) on investments or net realized and unrealized gain (loss) on derivatives and foreign exchange in the consolidated statements of operations.
	-2	Securities available-for-sale were transferred into Level 3 because observable market data was no longer available as a result of an asset-restructure.
	-3	Equity investments, at estimated fair value were transferred out of Level 3 because observable market data became available as a result of asset-restructures.
	The following table presents additional information about assets, including derivatives that are measured at fair value on a recurring basis for which the Company has utilized Level 3 inputs to determine fair value, for the year ended December 31, 2013 (amounts in thousands):
			Securities			Other			Residential			Corporate			Equity			Interests in			Foreign			Common			Options
			Available-			Securities,			Mortgage-			Loans, at			Investments,			Joint			Exchange			Stock
			For-Sale:			at Estimated			Backed			Estimated			at Estimated			Ventures and			Options,			Warrants
			Corporate			Fair Value			Securities			Fair Value			Fair Value			Partnerships			Net
			Debt
			Securities
	Beginning balance as of January 1, 2013		$	42,221		$	2,909		$	83,842		$	16,141		$	97,746		$	142,477		$	8,277		$	1,574		$	—
	Total gains or losses (for the period):
	Included in earnings(1)			1,729			3,485			7,711			8,996			10,555			21,926			664			167			211
	Included in other comprehensive loss			(1,808	)		—			—			—			—			—			—			—			—
	Transfers out of Level 3(2)			—			—			—			—			—			—			—			(945	)		—
	Purchases			4,613			103,616			—			123,409			30,113			299,039			—			—			8,787
	Sales			—			—			—			—			(198	)		—			—			—			—
	Settlements			(23,354	)		(2,480	)		(15,549	)		4,254			(157	)		(48,195	)		—			(796	)		(2,204	)
	Ending balance as of December 31, 2013		$	23,401		$	107,530		$	76,004		$	152,800		$	138,059		$	415,247		$	8,941		$	—		$	6,794
	Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)		$	74		$	3,485		$	21,796		$	8,700		$	10,854		$	21,926		$	954		$	—		$	211
	-1	Amounts are included in net realized and unrealized gain (loss) on investments or net realized and unrealized gain (loss) on derivatives and foreign exchange in the consolidated statements of operations.
	-2	There were no transfers into Level 3. Common stock warrants were transferred out of Level 3 to Level 2 because observable market data became available. The Company's policy is to recognize transfers into and out of Level 3 at the end of the reporting period.
Summary of valuation techniques used for assets and liabilities, measured at fair value and categorized within level 3	The following table presents additional information about valuation techniques and inputs used for assets, including derivatives, that are measured at fair value and categorized within Level 3 as of December 31, 2013 (dollar amounts in thousands):
			Balance as of			Valuation		Unobservable		Weighted		Range		Impact to
			December 31,			Techniques(1)		Inputs(2)		Average(3)				Valuation
			2013											from an
														Increase in
														Input(4)
	Assets:
	Securities available-for-sale:		$	23,401		Yield Analysis		Yield		10%		6% - 12%		Decrease
	Corporate debt securities							Net leverage		12x		11x - 12x		Decrease
								EBITDA multiple		8x		8x - 9x		Increase
						Broker quotes		Offered quotes		105		104 - 105		Increase
	Other securities, at estimated fair value		$	107,530		Yield Analysis		Yield		12%		7% - 17%		Decrease
								EBITDA multiple		8x		7x - 8x		Increase
								Illiquidity discount		3%		3%		Decrease
								Net leverage		1x		1x - 2x		Decrease
						Broker quotes		Offered quotes		102		101 - 102		Increase
	Residential mortgage-backed securities		$	76,004		Discounted cash flows		Probability of default		7%		0% - 21%		Decrease
								Loss severity		28%		16% - 77%		Decrease
								Constant prepayment rate		15%		3% - 35%		-5
	Corporate loans, at estimated fair value		$	152,800		Yield Analysis		Yield		16%		14% - 23%		Decrease
								Net leverage		7x		4x - 12x		Decrease
								EBITDA multiple		8x		6x - 11x		Increase
	Equity investments, at estimated fair value(6)		$	138,059		Inputs to both		Weight ascribed to market		50%		33% - 100%		-7
						market		comparables
						comparables and		Weight ascribed to		59%		50% - 100%		-8
						discounted cash		discounted cash flows
						flow
						Market comparables		LTM EBITDA multiple		12x		6x - 16x		Increase
								Forward EBITDA multiple		12x		10x - 14x		Increase
						Discounted cash flows		Weighted average cost of capital		11%		8% - 14%		Decrease
								LTM EBITDA exit multiple		10x		4x - 11x		Increase
	Interests in joint ventures and partnerships		$	415,247		Inputs to both		Weight ascribed to market		50%		50% - 100%		-7
						market		comparables
						comparables and		Weight ascribed to		50%		50% - 100%		-8
						discounted cash		discounted cash flows
						flow
						Market		Current capitalization rate		7%		6% - 9%		Decrease
						comparables		LTM EBITDA		9x		9x		Increase
						Discounted cash flows		Weighted average cost of capital		12%		8% - 24%		Decrease
	Foreign exchange options		$	8,941		Option pricing model		Forward and spot rates		1		0 - 1		-9
	Options		$	6,794		Inputs to both		Weight ascribed to market		50%		50%		-7
						market		comparables
						comparables and		Weight ascribed to		50%		50%		-8
						discounted cash		discounted cash flows
						flow
						Market comparables		LTM EBITDA		9x		9x		Increase
						Discounted cash flows		Weighted average cost of capital		12%		12%		Decrease
								LTM EBITDA exit multiple		10x		9x - 10x		Increase
	-1	For the assets that have more than one valuation technique, the Company may rely on the techniques individually or in aggregate based on a weight ascribed to each one ranging from 0-100%. When determining the weighting ascribed to each valuation methodology, the Company considers, among other factors, the availability of direct market comparables, the applicability of a discounted cash flow analysis and the expected hold period and manner of realization for the investment. These factors can result in different weightings among the investments and in certain instances, may result in up to a 100% weighting to a single methodology. Broker quotes obtained for valuation purposes are reviewed by the Company through other valuation techniques.
	-2	In determining certain of these inputs, management evaluates a variety of factors including economic conditions, industry and market developments; market valuations of comparable companies; and company specific developments including exit strategies and realization opportunities.
	-3	Weighted average amounts are based on the estimated fair values.
	-4	Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs in isolation could result in significantly higher or lower fair value measurements.
	-5	The impact of changes in prepayment speeds may have differing impacts depending on the seniority of the instrument. Generally, an increase in the constant prepayment speed will positively impact the overall valuation of traditional mortgage assets. In contrast, an increase in the constant prepayment rate will negatively impact the overall valuation of interest-only strips.
	-6	When determining the illiquidity discount to be applied to equity investments, at estimated fair value, the Company takes a uniform approach across its portfolio and generally applies a minimum 5% discount to all private equity investments carried at estimated fair value. The Company then evaluates such investments to determine if factors exist that could make it more challenging to monetize the investment and, therefore, justify applying a higher illiquidity discount. These factors generally include the salability of the investment, whether the issuer is undergoing significant restructuring activity or similar factors, as well as characteristics about the issuer including its size and/or whether it is experiencing, or expected to experience, a significant decline in earnings. Depending on the applicability of these factors, the Company determines the amount of any incremental illiquidity discount to be applied above the 5% minimum, and during the time the Company holds the investment, the illiquidity discount may be increased or decreased, from time to time, based on changes to these factors. The amount of illiquidity discount applied at any time requires considerable judgment about what a market participant would consider and is based on the facts and circumstances of each individual investment. Accordingly, the illiquidity discount ultimately considered by a market participant upon the realization of any investment may be higher or lower than that estimated by the Company in its valuations.
	-7	The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level 3 investments if the market comparables approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach.
	-8	The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level 3 investments if the discounted cash flow approach results in a higher valuation than the market comparables approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach.
	-9	The directional change from an increase in forward and spot rates varies and is dependent on the specific option.

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	12 Months Ended
	Dec. 31, 2014
Segment reporting
Schedule showing net income (loss) components and total assets of reportable segments reconciled to amounts reflected in the condensed consolidated financial statements
	The following table shows total assets of reportable segments reconciled to amounts reflected in the consolidated balance sheets as of December 31, 2014 and 2013 (amounts in thousands):
			Credit						Natural Resources						Other					Reconciling Items						Total Consolidated(1)
	As of		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,		December 31,			December 31,			December 31,		December 31,
			2014			2013			2014			2013			2014			2013		2014			2013			2014		2013
	Total assets		$	8,438,227		$	8,020,353		$	300,281		$	505,029		$	213,006		$	190,946	$	111		$	870		$	8,951,625	$	8,717,198
		-1		Total consolidated assets as of December 31, 2014 include $100.2 million of noncontrolling interests, of which $62.7 million is related to the Credit segment and $37.4 million is related to the Natural Resources segment.
Successor Company
Segment reporting
Schedule showing net income (loss) components and total assets of reportable segments reconciled to amounts reflected in the condensed consolidated financial statements	The following table presents the net income (loss) components of our reportable segments reconciled to amounts reflected in the consolidated statements of operations for the eight months ended December 31, 2014 (amounts in thousands):
			Successor Company
			Credit			Natural			Other			Reconciling			Total
						Resources						Items(1)			Consolidated
			For the			For the			For the			For the			For the
			eight months			eight months			eight months			eight months			eight months
			ended			ended			ended			ended			ended
			December 31,			December 31,			December 31,			December 31,			December 31,
			2014			2014			2014			2014			2014
	Total revenues		$	279,639		$	57,616		$	13,090		$	—		$	350,345
	Total investment costs and expenses			142,204			38,117			815			—			181,136
	Total other income (loss)			(241,035	)		(115,141	)		11,794			—			(344,382	)
	Total other expenses			40,703			2,219			476			174			43,572
	Income tax expense (benefit)			49			—			435			—			484
	Net income (loss)		$	(144,352	)	$	(97,861	)	$	23,158		$	(174	)	$	(219,229	)
	Net income (loss) attributable to noncontrolling interests			(1,797	)		(4,159	)		—			—			(5,956	)
	Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries		$	(142,555	)	$	(93,702	)	$	23,158		$	(174	)	$	(213,273	)
	-1	Consists of insurance and directors' expenses which are not allocated to individual segments.
Predecessor Company
Segment reporting
Schedule showing net income (loss) components and total assets of reportable segments reconciled to amounts reflected in the condensed consolidated financial statements	The following table presents the net income (loss) components of our reportable segments reconciled to amounts reflected in the consolidated statements of operations for the four months ended April 30, 2014 (amounts in thousands):
			Predecessor Company
			Credit			Natural			Other			Reconciling			Total
						Resources						Items(1)			Consolidated
			Four months			Four months			Four months			Four months			Four months
			ended			ended			ended			ended			ended
			April 30, 2014			April 30, 2014			April 30, 2014			April 30, 2014			April 30, 2014
	Total revenues		$	134,255		$	61,782		$	21,205		$	—		$	217,242
	Total investment costs and expenses			62,485			38,915			425			—			101,825
	Total other income (loss)			76,046			(8,123	)		(11,589	)		—			56,334
	Total other expenses			23,121			1,633			230			40,625			65,609
	Income tax expense (benefit)			146			—			16			—			162
	Net income (loss)		$	124,549		$	13,111		$	8,945		$	(40,625	)	$	105,980
		-1		Consists of certain expenses not allocated to individual segments including other expenses comprised of incentive fees of $12.9 million and merger related transaction costs of $22.7 million for the four months ended April 30, 2014. The remaining reconciling items include insurance expenses, directors' expenses and share-based compensation expense
	The following table presents the net income (loss) components of our reportable segments reconciled to amounts reflected in the consolidated statements of operations for the years ended December 31, 2013 and 2012 (amounts in thousands):
			Predecessor Company
			Credit						Natural Resources						Other					Reconciling						Total Consolidated
																				Items(1)
	For the years ended		2013			2012			2013			2012			2013			2012		2013			2012			2013		2012
	Total revenues		$	425,209		$	490,861		$	119,178		$	64,535		$	1,519		$	77	$	—		$	—		$	545,906	$	555,473
	Total investment costs and expenses			218,600			257,269			86,174			60,668			931			438		—			—			305,705		318,375
	Total other income (loss)			171,006			199,723			(13,642	)		1,881			13,576			4,663		(20,015	)		(445	)		150,925		205,822
	Total other expenses			60,870			48,640			4,835			5,111			606			217		31,118			44,189			97,429		98,157
	Income tax expense (benefit)			450			(3,468	)		—			—			17			1		—			—			467		(3,467	)
	Net income (loss)		$	316,295		$	388,143		$	14,527		$	637		$	13,541		$	4,084	$	(51,133	)	$	(44,634	)	$	293,230	$	348,230
		-1		Consists of certain expenses not allocated to individual segments including (i) other income (loss) comprised of losses on restructuring and extinguishment of debt of $20.0 million and $0.4 million for the years ended December 31, 2013 and 2012, respectively and (ii) other expenses comprised of incentive fees of $22.7 million and $37.6 million for the years ended December 31, 2013 and 2012, respectively. The remaining reconciling items include insurance expenses, directors' expenses and share-based compensation expense.

EARNINGS_PER_COMMON_SHARE_Tabl

EARNINGS PER COMMON SHARE (Tables) (Predecessor Company)	12 Months Ended
	Dec. 31, 2014
Predecessor Company
Earnings per common share
Schedule of reconciliation of basic and diluted net (loss) income per common share	The following table presents a reconciliation of basic and diluted net income (loss) per common share for the Predecessor Company (amounts in thousands, except per share information):
			Predecessor Company
			Four months		Year ended		Year ended
			ended		December 31,		December 31,
			April 30, 2014		2013		2012
	Net income (loss)		$	105,980	$	293,230	$	348,230
	Less: Preferred share distributions			6,891		27,411		—
	Net income (loss) available to common shares		$	99,089	$	265,819	$	348,230
	Less: Dividends and undistributed earnings allocated to participating securities			292		904		1,116
	Net income (loss) allocated to common shares		$	98,797	$	264,915	$	347,114
	Effect of dilutive securities:
	Interest on convertible senior notes			—		—		3,234
	Net income (loss) allocated to common shares for diluted earnings per share		$	98,797	$	264,915	$	350,348
	Basic:
	Basic weighted average common shares outstanding			204,276		202,411		177,838
	Net income (loss) per common share		$	0.48	$	1.31	$	1.95
	Diluted:
	Basic weighted average common shares outstanding			204,276		202,411		177,838
	Dilutive effect of convertible senior notes(1)			—		—		9,585
	Diluted weighted average common shares outstanding(2)			204,276		202,411		187,423
	Net income (loss) per common share		$	0.48	$	1.31	$	1.87
	-1	The if-converted method was applied during the fourth quarter of 2012 reflecting the assumption that the convertible senior notes would be settled in common shares. During the first quarter of 2013, $172.5 million of the Company's outstanding convertible notes had been tendered for conversion and were settled with 26.1 million common shares.
	-2	Potential anti-dilutive common shares excluded from diluted earnings per share related to common share options were 1,932,279 for all periods presented.

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) (Predecessor Company)	12 Months Ended
	Dec. 31, 2014
Predecessor Company
ACCUMULATED OTHER COMPREHENSIVE LOSS
Schedule of components of changes in accumulated other comprehensive loss	The components of changes in accumulated other comprehensive loss for the Predecessor Company were as follows (amounts in thousands):
			Predecessor Company
			Four months ended April 30, 2014(1)
			Net unrealized			Net unrealized			Total
			gains on			losses on cash
			available-for-sale			flow hedges
			securities
	Beginning balance		$	23,567		$	(39,219	)	$	(15,652	)
	Other comprehensive loss before reclassifications			(2,614	)		(5,442	)		(8,056	)
	Amounts reclassified from accumulated other comprehensive loss(2)			(2,639	)		—			(2,639	)
	Net current-period other comprehensive loss			(5,253	)		(5,442	)		(10,695	)
	Ending balance		$	18,314		$	(44,661	)	$	(26,347	)
	-1	The Company's gross and net of tax amounts are the same.
	-2	Includes an impairment charge of $4.4 million for investments which were determined to be other-than-temporary for the four months ended April 30, 2014. These reclassified amounts are included in net realized and unrealized gain (loss) on investments on the consolidated statements of operations.
			Predecessor Company
			Year ended December 31, 2013(1)									Year ended December 31, 2012(1)
			Net unrealized			Net			Total			Net unrealized			Net			Total
			gains on			unrealized						gains on			unrealized
			available-			losses on cash						available-			losses on cash
			for-sale			flow hedges						for-sale			flow hedges
			securities									securities
	Beginning balance		$	17,472		$	(87,698	)	$	(70,226	)	$	62,248		$	(97,867	)	$	(35,619	)
	Other comprehensive income (loss) before reclassifications			(9,668	)		48,479			38,811			48,358			10,169			58,527
	Amounts reclassified from accumulated other comprehensive loss(2)			15,763			—			15,763			(93,134	)		—			(93,134	)
	Net current-period other comprehensive income (loss)			6,095			48,479			54,574			(44,776	)		10,169			(34,607	)
	Ending balance		$	23,567		$	(39,219	)	$	(15,652	)	$	17,472		$	(87,698	)	$	(70,226	)
	-1	The Company's gross and net of tax amounts are the same.
	-2	Includes impairment charges of $19.5 million and $8.4 million for investments which were determined to be other-than- temporary for the years ended December 31, 2013 and 2012, respectively. These reclassified amounts are included in net realized and unrealized gain (loss) on investments on the consolidated statements of operations.

SUMMARY_OF_QUARTERLY_INFORMATI1

SUMMARY OF QUARTERLY INFORMATION (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2014
SUMMARY OF QUARTERLY INFORMATION (UNAUDITED)
Schedule of quarterly results of operations	The following is a presentation of the results of operations for the years ended December 31, 2014 and 2013:
			Successor Company											Predecessor Company
				2014											2014
	(amounts in thousands, except per share information)		Fourth			Third			Two months					One month			First
			Quarter			Quarter			ended					ended			Quarter
									June 30					April 30
	Total revenues		$	131,276		$	124,756		$	94,313				$	76,652		$	140,590
	Total investment costs and expenses			64,132			61,340			55,664					28,055			73,770
	Total other income (loss)			(239,584	)		(125,685	)		20,887					(16,506	)		72,840
	Total other expenses			14,310			14,898			14,364					34,151			31,458
	Income (loss) before income taxes			(186,750	)		(77,167	)		45,172					(2,060	)		108,202
	Income tax expense (benefit)			422			34			28					143			19
	Net income (loss)			(187,172	)		(77,201	)		45,144					(2,203	)		108,183
	Net income (loss) attributable to non-controlling interests			(6,772	)		816			—					—			—
	Net income (loss) attributable to KKR Financial Holdings LLC and subsidiaries			(180,400	)		(78,017	)		45,144					(2,203	)		108,183
	Preferred share distributions			6,891			6,891			6,891					—			6,891
	Net income (loss) available to common shares		$	(187,291	)	$	(84,908	)	$	38,253				$	(2,203	)	$	101,292
	Net income (loss) per common share:
	Basic			N/A			N/A			N/A				$	(0.01	)	$	0.49
	Diluted			N/A			N/A			N/A				$	(0.01	)	$	0.49
	Weighted average number of common shares outstanding:
	Basic			N/A			N/A			N/A					204,398			204,236
	Diluted			N/A			N/A			N/A					204,398			204,236
			Predecessor Company
			2013
	(amounts in thousands, except per share information)		Fourth			Third			Second			First
			Quarter			Quarter			Quarter			Quarter
	Total revenues		$	139,510		$	128,702		$	137,244		$	140,450
	Total investment costs and expenses			81,586			77,877			65,193			81,049
	Total other income (loss)			33,244			6,226			37,235			74,220
	Total other expenses			22,259			17,147			23,196			34,827
	Income (loss) before income taxes			68,909			39,904			86,090			98,794
	Income tax expense (benefit)			33			18			(42	)		458
	Net income (loss)		$	68,876		$	39,886		$	86,132		$	98,336
	Preferred share distributions			6,891			6,891			6,891			6,738
	Net income (loss) available to common shares		$	61,985		$	32,995		$	79,241		$	91,598
	Net income (loss) per common share:
	Basic(1)		$	0.3		$	0.16		$	0.39		$	0.46
	Diluted(1)		$	0.3		$	0.16		$	0.39		$	0.46
	Weighted average number of common shares outstanding:
	Basic			204,154			204,134			204,108			197,153
	Diluted			204,154			204,134			204,108			197,153
	-1	Summation of the quarters' earnings per share may not equal the annual amounts due to the averaging effect of the number of shares and share equivalents throughout the year.

ORGANIZATION_Details

ORGANIZATION (Details) (Predecessor Company)	0 Months Ended
	Apr. 30, 2014	Jan. 17, 2013
Series A LLC Preferred Shares
Definitive merger agreement
Preferred shares, dividend rate (as a percent)	7.38%	7.38%
KFN | KKR & Co.
Definitive merger agreement
Stock exchange ratio to be applied in the merger transaction	0.51

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Successor Company
Collateralized Debt Obligation disclosures
Collateralized loan obligation secured notes	$6,237,674,000
Successor Company | Collateralized Debt Obligation (CLOs) VIEs
Collateralized Debt Obligation disclosures
Corporate debt investment, par amount	6,900,000,000
Estimated fair value of corporate debt investments	6,500,000,000
Successor Company | Collateralized Debt Obligation (CLOs) VIEs | Nonaffiliates
Collateralized Debt Obligation disclosures
Collateralized loan obligation secured notes	5,600,000,000
Predecessor Company
Collateralized Debt Obligation disclosures
Collateralized Loan Obligation Secured Notes		5,249,383,000
Predecessor Company | Collateralized Debt Obligation (CLOs) VIEs
Collateralized Debt Obligation disclosures
Corporate debt investment, par amount		6,700,000,000
Estimated fair value of corporate debt investments		6,400,000,000
Predecessor Company | Collateralized Debt Obligation (CLOs) VIEs | Nonaffiliates
Collateralized Debt Obligation disclosures
Collateralized Loan Obligation Secured Notes		$5,300,000,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	12 Months Ended	4 Months Ended	12 Months Ended
	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013
	item	item	item
	approach	category	component
		component
Consolidation
Minimum percentage of voting interest required to consolidate non-VIEs	50.00%
Fair Value of Financial Instruments
Number of approaches used to determine fair value of investments (in approaches)	2
Corporate Loans
Period for determination of non-accrual status	90 days
Number of methods interest income recognized	2
Sustained period of repayment performance	6 months
Predecessor Company
Summary of corporate loans
Number of loan categories		3
Allowance for Loan Losses
Number of components in the loans receivable allowance for loan losses (in components)		2	2
Number of internally assigned risk grades		3	3

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 4) (Predecessor Company, KFN, KKR & Co.)	0 Months Ended
	Apr. 30, 2014	Dec. 16, 2013
Predecessor Company | KFN | KKR & Co.
Merger transaction
Exchange ratio of share based awards under merger transaction	0.51	0.51

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) (KKR Fund Holdings)	Dec. 31, 2014
KKR Fund Holdings
Earnings per common share
Number of common shares held	100

MERGER_TRANSACTION_Details

MERGER TRANSACTION (Details) (USD $)	0 Months Ended
	Apr. 30, 2014	Dec. 16, 2013	Apr. 30, 2014
KFN | KKR & Co.
Merger transaction
Transaction costs	$24,200,000		$24,200,000
KFN | KKR & Co. | General, administrative and directors expenses
Merger transaction
Transaction costs	22,700,000		22,700,000
Predecessor Company | Phantom share
Merger transaction
Exchange ratio of share based awards under merger transaction	0.51
Predecessor Company | KFN | KKR & Co.
Merger transaction
Exchange ratio of share based awards under merger transaction	0.51	0.51
Assets acquired:
Cash and cash equivalents	210,413,000		210,413,000
Restricted cash and cash equivalents	649,967,000		649,967,000
Securities	541,149,000		541,149,000
Corporate loans	6,649,054,000		6,649,054,000
Equity investments	297,054,000		297,054,000
Oil and gas properties, net	505,238,000		505,238,000
Interests in joint ventures and partnerships	491,324,000		491,324,000
Derivative assets	26,383,000		26,383,000
Interest and principal receivable	35,992,000		35,992,000
Other assets	208,144,000		208,144,000
Total assets	9,614,718,000		9,614,718,000
Liabilities assumed:
Collateralized loan obligation secured notes	5,663,666,000		5,663,666,000
Credit facilities	63,189,000		63,189,000
Senior notes	415,538,000		415,538,000
Junior subordinated notes	245,782,000		245,782,000
Accounts payable, accrued expenses and other liabilities	357,084,000		357,084,000
Accrued interest payable	17,647,000		17,647,000
Derivative liabilities	88,356,000		88,356,000
Total liabilities	6,851,262,000		6,851,262,000
Fair value of preferred shares	378,983,000		378,983,000
Fair value of net assets acquired	2,384,473,000		2,384,473,000
Less: Purchase price	2,369,559,000
Bargain purchase gain	$14,914,000
Predecessor Company | KFN | KKR & Co. | Restricted common shares
Merger transaction
Exchange ratio of share based awards under merger transaction	0.51
Predecessor Company | KFN | KKR & Co. | Phantom share | Directors
Merger transaction
Exchange ratio of share based awards under merger transaction	0.51

SECURITIES_Details

SECURITIES (Details) (USD $)	8 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Successor Company
Net realized and unrealized gains
Net realized (losses) gains	$2,891
Net change in unrealized (losses) gains	-11,460
Net realized and unrealized (losses) gains	-8,569
Securities Available-for-Sale
Par	721,094
Amortized Cost	654,257
Total securities	638,605
Total Securities
Total securities	638,605
Successor Company | Securities, at estimated fair value
Securities Available-for-Sale
Par	721,094
Amortized Cost	654,257
Total securities	638,605
Total Securities
Total securities	638,605
Predecessor Company
Securities Available-for-Sale
Amortized Cost		326,775
Gross Unrealized Gains		24,791
Gross Unrealized Losses		-1,225
Estimated Fair Value		350,341
Total securities		573,312
Total Securities
Amortized Cost		601,027
Gross Unrealized Gains		40,036
Gross Unrealized Losses		-67,751
Total securities		573,312
Predecessor Company | Other securities, at estimated fair value.
Total Securities
Amortized Cost		135,968
Gross Unrealized Gains		12,436
Gross Unrealized Losses		-1,437
Other securities, at estimated fair value		146,967
Predecessor Company | Residential mortgage-backed securities
Total Securities
Amortized Cost		138,284
Gross Unrealized Gains		2,809
Gross Unrealized Losses		-65,089
Other securities, at estimated fair value		$76,004

SECURITIES_Details_2

SECURITIES (Details 2) (USD $)	12 Months Ended	4 Months Ended	12 Months Ended
	Dec. 31, 2012	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2014
				issuer
				security
Successor Company | Corporate debt securities
Unrealized losses on available for sale securities in a gross continuous unrealized loss position by the length of time
Number of corporate debt securities in default				1
Number of issuers with corporate debt securities in default				1
Estimated fair value of corporate debt security in default				$8,700,000
Predecessor Company | Equity investments, at estimated fair value
Unrealized losses on available for sale securities in a gross continuous unrealized loss position by the length of time
Other-than-temporarily impaired loss	200,000
Amount of investment in common and preferred stock classified as available-for-sale		0	0
Predecessor Company | Corporate debt securities
Unrealized losses on available for sale securities in a gross continuous unrealized loss position by the length of time
Number of corporate debt securities in default			1
Number of issuers with corporate debt securities in default			1
Estimated fair value of corporate debt security in default			25,400,000
Predecessor Company | Securities
Fair value on available for sale securities in a gross continuous unrealized loss position by the length of time
Less Than 12 months			25,543,000
12 Months or More			30,034,000
Total Estimated Fair Value			55,577,000
Unrealized losses on available for sale securities in a gross continuous unrealized loss position by the length of time
Less Than 12 months			-658,000
12 months or More			-567,000
Total Unrealized Losses			-1,225,000
Other-than-temporarily impaired loss	$8,200,000	$4,400,000	$19,500,000

SECURITIES_Details_3

SECURITIES (Details 3) (Predecessor Company, USD $)	4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Predecessor Company
Net realized gains and losses recognized on the sale of securities available for sale
Gross realized gains	$2,516	$2,829	$85,982
Gross realized losses		-42	-12
Net realized gains	$2,516	$2,787	$85,970

SECURITIES_Details_4

SECURITIES (Details 4) (Predecessor Company, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Apr. 30, 2014
	security
Troubled Debt Restructurings
Modified amortized cost of security	601,027
Estimated fair value of new securities received from the security TDR exchange	181,212
Equity investments, at estimated fair value
Troubled Debt Restructurings
Estimated fair value of new securities received from the security TDR exchange		16,100
Number of securities modified as TDRs in default within a twelve month period subsequent to their original restructuring		0
Securities
Troubled Debt Restructurings
Modified amortized cost of security		$24,100
Number of securities that qualified as TDRs	0

SECURITIES_Details_5

SECURITIES (Details 5) (Successor Company, USD $)	8 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Successor Company
Amortized Cost of corporate debt securities by remaining contractual maturity
Due within one year	$8,079
One to five years	250,972
Five to ten years	216,519
Greater than ten years	123,889
Total	599,459
Estimated fair value of corporate debt securities by remaining contractual maturity
Due within one year	6,129
One to five years	242,990
Five to ten years	215,728
Greater than ten years	118,574
Total	583,421
Weighted average coupon based on par values
Due within one year (as a percent)	7.10%
One to five years (as a percent)	8.70%
Five to ten years (as a percent)	11.00%
Greater than ten years (as a percent)	0.70%
Prepayments of available-for-sale securities	$0

SECURITIES_Details_6

SECURITIES (Details 6) (USD $)	0 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Successor Company
Concentrated risks
Number of issuers with whom a specified percentage of estimated fair value of corporate debt securities is concentrated (in issuers)	10
Number of largest issuers with whom a specified percentage of estimated fair value of debt securities is concentrated (in issuers)	3
Estimated fair value of securities pledged as collateral
Pledged as collateral for collateralized loan obligation secured debt	$262,085
Total	262,085
Successor Company | Corporate debt securities | Percent to total investment in corporate loans, debt securities and other investments | Top three largest
Concentrated risks
Concentration risk of total fair value (as a percent)	37.00%
Securities	213,600
Successor Company | Corporate debt securities | Percent to total investment in corporate loans, debt securities and other investments | Ten issuers
Concentrated risks
Concentration risk of total fair value (as a percent)	70.00%
Predecessor Company
Concentrated risks
Number of issuers with whom a specified percentage of estimated fair value of corporate debt securities is concentrated (in issuers)		10
Number of largest issuers with whom a specified percentage of estimated fair value of debt securities is concentrated (in issuers)		3
Securities		350,341
Estimated fair value of securities pledged as collateral
Pledged as collateral for collateralized loan obligation secured debt		324,830
Total		324,830
Predecessor Company | Corporate debt securities | Percent to total investment in corporate loans, debt securities and other investments | Top three largest
Concentrated risks
Concentration risk of total fair value (as a percent)		21.00%
Securities		$104,500
Predecessor Company | Corporate debt securities | Percent to total investment in corporate loans, debt securities and other investments | Ten issuers
Concentrated risks
Concentration risk of total fair value (as a percent)		55.00%

CORPORATE_LOANS_AND_ALLOWANCE_2

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details) (Successor Company, USD $)	Dec. 31, 2014
In Thousands, unless otherwise specified
Summary of corporate loans
Par	$6,907,373
Amortized Cost	6,710,570
Estimated Fair Value	6,506,564
Corporate Loans, at Estimated Fair Value
Summary of corporate loans
Par	6,907,373
Amortized Cost	6,710,570
Estimated Fair Value	$6,506,564

CORPORATE_LOANS_AND_ALLOWANCE_3

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 2) (Successor Company, Corporate Loans, at Estimated Fair Value, USD $)	8 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Successor Company | Corporate Loans, at Estimated Fair Value
Net realized and unrealized (losses) gains
Net realized gains	$1,411
Net change in unrealized losses	-204,006
Net realized and unrealized losses	($202,595)

CORPORATE_LOANS_AND_ALLOWANCE_4

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 3) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Apr. 30, 2014	Dec. 31, 2012	Dec. 31, 2011
Successor Company
Summary of corporate loans
Total amortized cost	$6,710,570,000
Successor Company | Corporate Loans, at Estimated Fair Value
Summary of corporate loans
Total amortized cost	6,710,570,000
Predecessor Company
Summary of corporate loans
Principal		6,873,666,000
Net unamortized discount		-181,046,000
Total amortized cost		6,692,620,000
Lower of cost or fair value adjustment		-15,920,000
Allowance for loan losses		-224,999,000
Unrealized gains		15,019,000
Net carrying value		6,466,720,000
Predecessor Company | Corporate Loans
Summary of corporate loans
Principal		6,280,470,000
Net unamortized discount		-105,979,000
Total amortized cost		6,174,491,000
Allowance for loan losses		-224,999,000	-223,541,000	-223,472,000	-191,407,000
Net carrying value		5,949,492,000
Predecessor Company | Corporate Loans Held for Sale
Summary of corporate loans
Principal		315,738,000
Net unamortized discount		-20,070,000
Total amortized cost		295,668,000
Lower of cost or fair value adjustment		-15,920,000
Net carrying value		279,748,000
Predecessor Company | Corporate Loans, at Estimated Fair Value
Summary of corporate loans
Principal		277,458,000
Net unamortized discount		-54,997,000
Total amortized cost		222,461,000
Unrealized gains		15,019,000
Net carrying value		237,480,000
Predecessor Company | Corporate loans and corporate loans held for sale
Summary of corporate loans
Cumulative charge-offs and other adjustments		$18,100,000

CORPORATE_LOANS_AND_ALLOWANCE_5

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 4) (Predecessor Company, USD $)	4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
	component	component
Summary of corporate loans
Number of components in the loans receivable allowance for loan losses (in components)	2	2
Allowance for loan losses:
Beginning balance	$224,999
Provision for loan losses		32,812	46,498
Charge-offs	-1,500	-31,300	-14,400
Ending balance		224,999
Corporate Loans
Allowance for loan losses:
Beginning balance	224,999	223,472	191,407
Provision for loan losses		32,812	46,498
Charge-offs	-1,458	-31,285	-14,433
Ending balance	$223,541	$224,999	$223,472

CORPORATE_LOANS_AND_ALLOWANCE_6

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 5) (Predecessor Company, USD $)	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
In Thousands, unless otherwise specified
Allowance for loan losses by basis of impairment method:
Ending balance: individually evaluated for impairment		$142,682
Ending balance: collectively evaluated for impairment		82,317
Allowance for loan losses		224,999
Corporate loans (recorded investment) by basis of impairment method:
Recorded Investment		6,193,232
Corporate Loans
Allowance for loan losses by basis of impairment method:
Allowance for loan losses	223,541	224,999	223,472	191,407
Corporate loans (recorded investment) by basis of impairment method:
Ending balance: individually evaluated for impairment		554,442
Ending balance: collectively evaluated for impairment		5,638,790
Recorded Investment		$6,193,232

CORPORATE_LOANS_AND_ALLOWANCE_7

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 6) (Predecessor Company, USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified	issuer
Recorded investment in impaired loans and related allowances for credit losses
Number of issuers of loans related to the aggregate allowance on impaired loans (in issuers)	4
Impaired Financing Receivable, Recorded Investment
Recorded Investment, with an allowance recorded	$554,442
Recorded Investment	554,442
Unpaid Principal Balance, with an allowance recorded	594,416
Unpaid Principal Balance	594,416
Related Allowance	142,682
Impaired Financing Receivable, Amortized Cost
Allocated component of allowance for loan losses to the account for impairment	142,682
Texas Competitive Electric Holdings Company LLC
Impaired Financing Receivable, Amortized Cost
Impaired loans	311,600
Allocated component of allowance for loan losses to the account for impairment	$66,900

CORPORATE_LOANS_AND_ALLOWANCE_8

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 7) (Predecessor Company, USD $)	4 Months Ended	12 Months Ended
	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Predecessor Company
Average recorded investment in impaired loans and interest income recognized
Interest income related to impaired loans with a related allowance recorded	$4,500,000
Average Recorded Investment, with no related allowance recorded		1,298,000	3,540,000
Average Recorded Investment, with an allowance recorded		524,924,000	199,083,000
Average Recorded Investment		526,222,000	202,623,000
Interest Income Recognized, with no related allowance recorded			208,000
Interest Income Recognized, with an allowance recorded		18,194,000	9,310,000
Interest Income Recognized		$18,194,000	$9,518,000

CORPORATE_LOANS_AND_ALLOWANCE_9

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 8) (USD $)	4 Months Ended	12 Months Ended
	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014
		class
Successor Company | Corporate Loans, at Estimated Fair Value
Recorded investment in impaired loans and related allowances for credit losses
Par amount of non-accrual loans				$580,100,000
Estimated fair value of non-accrual loans				342,100,000
Estimated fair value of past due loans				266,900,000
Par amount of non-accrual and past due loans				410,200,000
Predecessor Company
Recorded investment in impaired loans and related allowances for credit losses
Number of classifications of non-accrual loans		3
Recorded investment with nonaccrual status		624,148,000
Interest income recognized using cash basis method	5,300,000	25,100,000	19,600,000
Predecessor Company | Corporate Loans
Recorded investment in impaired loans and related allowances for credit losses
Recorded investment with nonaccrual status		554,442,000
Interest income recognized using cash basis method	4,500,000	18,200,000	9,500,000
Recorded investment of non-accrual and past due loans		237,200,000
Number of issuers past due (in issuers)		3
Past due interest payments of amortized cost of non-accrual and past due loans
Total past due interest payment		5,600,000
Less than 30 days past due		900,000
60-89 days past due		2,300,000
Interest payments related to loans at estimated fair value that were 90 or more days past due		2,400,000
Predecessor Company | Corporate Loans Held for Sale
Recorded investment in impaired loans and related allowances for credit losses
Recorded investment with nonaccrual status		44,823,000
Interest income recognized using cash basis method	700,000	6,900,000	10,100,000
Predecessor Company | Corporate Loans, at Estimated Fair Value
Recorded investment in impaired loans and related allowances for credit losses
Recorded investment with nonaccrual status		24,883,000
Interest income recognized using cash basis method	100,000
Par amount of non-accrual loans		237,200,000
Estimated fair value of past due loans		12,200,000
Par amount of non-accrual and past due loans		15,500,000
Number of issuers past due (in issuers)		1
Past due interest payments of amortized cost of non-accrual and past due loans
Interest payments related to loans at estimated fair value that were 90 or more days past due		$200,000

Recovered_Sheet1

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 9) (Predecessor Company, USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
Corporate Loans and Allowance for Loan Losses
Recorded Investment	$6,193,232
Allowances for loan losses	82,317
Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	5,638,790
Allowances for loan losses	82,300
Allocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	554,442
High | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	325,525
High | Senior Secured Loan | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	26,886
High | Second Lien Loan | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	286,996
High | Subordinated | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	11,643
Moderate | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	1,099,898
Moderate | Senior Secured Loan | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	1,033,065
Moderate | Second Lien Loan | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	27,504
Moderate | Subordinated | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	39,329
Low | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	4,213,367
Low | Senior Secured Loan | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	4,148,913
Low | Second Lien Loan | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	25,864
Low | Subordinated | Unallocated
Corporate Loans and Allowance for Loan Losses
Recorded Investment	$38,590

Recovered_Sheet2

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 10) (Predecessor Company, USD $)	4 Months Ended	12 Months Ended
	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Summary of corporate loans
Charge-offs recorded	$1,500,000	$31,300,000	$14,400,000
Corporate loans held for sale		279,748,000
Corporate loans transferred from held for investment to held for sale	348,808,000	323,416,000	114,995,000
Net charge for lower of cost or estimated fair value adjustment	-5,038,000	5,899,000	2,656,000
Corporate loans transferred from held for sale to held for investment	0	0
Carrying Amount
Summary of corporate loans
Corporate loans held for sale		279,748,000
Corporate Loans
Summary of corporate loans
Charge-offs recorded	1,458,000	31,285,000	14,433,000
Corporate loans transferred from held for investment to held for sale	348,800,000	323,400,000
Corporate Loans Held for Sale
Summary of corporate loans
Corporate loans held for sale	546,100,000	279,700,000	128,300,000
Net charge for lower of cost or estimated fair value adjustment	$5,000,000	$5,900,000	$2,700,000

Recovered_Sheet3

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 11) (USD $)	4 Months Ended	12 Months Ended
	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014
	issuer	issuer	issuer	loan
	loan	loan		issuer
Successor Company
Troubled debt restructurings:
Number of loans in default				4
Estimated fair value of corporate loans in default				$266,900,000
Number of issuers in default				2
Predecessor Company
Troubled debt restructurings:
Troubled debt restructurings on a recorded investment basis		55,400,000
Number of issuers related to recorded investment balance (in issuers)		3
Sustained period of repayment performance for determining the reclassification of restructured loans from non-accrual to accrual status		6 months
Troubled debt restructurings, included in non-accrual loans		55,400,000
Specific reserves allocated to the issuer		22,100,000
Financing Receivable Modifications Extension Period of Maturity Date		4 years
Higher coupon rate for extended period (as a percent)	4.00%	6.80%
Pre-modification outstanding recorded investment	195,422,000	70,028,000	67,682,000
Number of issuers troubled debt restructurings	2	3	1
Post-modification outstanding recorded investment	24,571,000	40,659,000	25,565,000
Charge-offs recorded related to TDR's	1,100,000	26,800,000
Charge-offs related to TDR's as a percentage of charge-offs related to loans and losses (in percentage)	76.00%	86.00%
Charge-offs recorded	1,500,000	31,300,000	14,400,000
Lending commitment to borrower whose loans had been modified in the troubled debt restructuring	0
Number of loans modified as TDRs in default	0
Modified amortized cost of corporate loans that did not qualify as TDRs	1,100,000,000	2,400,000,000
Number of loans in default		6
Amortized cost of corporate loans in default		215,700,000
Number of issuers in default		2
Predecessor Company | Minimum
Troubled debt restructurings:
Financing Receivable Modifications Extension Period of Maturity Date	3 years
Predecessor Company | Maximum
Troubled debt restructurings:
Financing Receivable Modifications Extension Period of Maturity Date	5 years
Predecessor Company | Corporate Loans
Troubled debt restructurings:
Number of TDRs (in issuers)	1	2	1
Pre-modification outstanding recorded investment	154,075,000	68,358,000	13,807,000
Post-modification outstanding recorded investment		39,430,000	4,679,000
Estimated fair value of equity received from the TDRs excluded from post-modification outstanding recorded investment	92,000,000	2,100,000	9,500,000
Number of TDRs identified as impaired (in issuers)	1	2
Amortized cost of corporate loans in default		203,700,000
Predecessor Company | Corporate Loans Held for Sale
Troubled debt restructurings:
Number of TDRs (in issuers)			1
Pre-modification outstanding recorded investment			53,875,000
Post-modification outstanding recorded investment			20,886,000
Predecessor Company | Corporate Loans, at Estimated Fair Value
Troubled debt restructurings:
Number of TDRs (in issuers)	2	1
Pre-modification outstanding recorded investment	41,347,000	1,670,000
Post-modification outstanding recorded investment	24,571,000	1,229,000
Estimated fair value of equity received from the TDRs excluded from post-modification outstanding recorded investment	12,300,000
Number of loans carried at estimated fair value	2	1
Amortized cost of corporate loans in default		$12,000,000

Recovered_Sheet4

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 12) (USD $)	8 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Successor Company
Concentrated risks
Estimated fair value of corporate loans	6,506,564,000
Successor Company | Corporate Loans
Concentrated risks
Number of issuers with whom a specified percentage of estimated fair value or amortized cost of corporate loans is concentrated	20
Number of issuers with the largest concentration of corporate loans	3
Successor Company | Corporate Loans | Percent to total investment in corporate loans, debt securities and other investments | Top Twenty Issuers
Concentrated risks
Concentration risk (as a percent)	38.00%
Successor Company | Corporate Loans | Percent to total investment in corporate loans, debt securities and other investments | Top three largest
Concentrated risks
Concentration risk (as a percent)	11.00%
Estimated fair value of corporate loans	700,400,000
Predecessor Company
Concentrated risks
Estimated fair value of corporate loans		237,480,000
Predecessor Company | Corporate Loans
Concentrated risks
Number of issuers with whom a specified percentage of estimated fair value or amortized cost of corporate loans is concentrated		20
Number of issuers with the largest concentration of corporate loans		3
Predecessor Company | Corporate Loans | Percent to total investment in corporate loans, debt securities and other investments | Top Twenty Issuers
Concentrated risks
Concentration risk (as a percent)		46.00%
Predecessor Company | Corporate Loans | Percent to total investment in corporate loans, debt securities and other investments | Top three largest
Concentrated risks
Concentration risk (as a percent)		14.00%
Amortized cost of corporate loans concentrated in major issuers (in dollars)		935,200,000

Recovered_Sheet5

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 13) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Successor Company | Estimated Fair Value
Pledged assets
Pledged as collateral for collateralized loan obligation secured debt	$6,205,292
Total	6,205,292
Predecessor Company | Carrying Amount
Pledged assets
Pledged as collateral for collateralized loan obligation secured debt		6,231,541
Total		$6,231,541

NATURAL_RESOURCES_ASSETS_Detai

NATURAL RESOURCES ASSETS (Details) (USD $)	3 Months Ended	8 Months Ended	4 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor Company
Oil and natural gas properties
Proved oil and natural gas properties (successful efforts method)		$128,800,000
Unproved oil and natural gas properties		0
Less: Accumulated depreciation, depletion and amortization		-8,526,000
Oil and gas properties, net		120,274,000
Interests in joint ventures and partnerships		51,600,000
Impairment charges		0
Amount capitalized from purchases of natural resource assets		30,900,000
Aggregate value of private equity, natural resources assets distributed to Parent	179,200,000
Predecessor Company
Oil and natural gas properties
Proved oil and natural gas properties (successful efforts method)				451,909,000
Unproved oil and natural gas properties				16,913,000
Less: Accumulated depreciation, depletion and amortization				-68,453,000
Oil and gas properties, net				400,369,000
Impairment charges			0	10,400,000	3,300,000
Amount capitalized from purchases of natural resource assets			$54,100,000	$154,100,000

EQUITY_METHOD_INVESTMENTS_Deta

EQUITY METHOD INVESTMENTS (Details) (USD $)	8 Months Ended	4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Commercial Real Estate
Equty Method Investments
Total assets	$959,488		$928,157
Total liabilities	836,066		699,956
Other
Equty Method Investments
Total assets	774,073		504,985
Total liabilities	208,876		119,496
Successor Company | Commercial Real Estate
Equty Method Investments
Revenue	77,661
Expenses	80,685
Net income (loss)	-3,024
Successor Company | Other
Equty Method Investments
Revenue	27,592
Expenses	22,956
Net income (loss)	-22,907
Predecessor Company | Commercial Real Estate
Equty Method Investments
Revenue		30,338	83,300	19,208
Expenses		36,914	96,883	27,772
Net income (loss)		-6,576	-13,583	-8,564
Predecessor Company | Other
Equty Method Investments
Revenue		6,545	4,718
Expenses		6,120	5,268
Net income (loss)		$12,252	($2,561)

BORROWINGS_Details

BORROWINGS (Details) (USD $)	0 Months Ended			12 Months Ended	0 Months Ended
	Dec. 31, 2014	Sep. 16, 2014	Dec. 18, 2014	Dec. 31, 2013	Sep. 27, 2013	Jun. 25, 2013	Jan. 23, 2014	Nov. 30, 2012	Nov. 14, 2013	Feb. 27, 2013
Successor Company
Details of Company's borrowings
Senior notes	$414,524,000
Junior subordinated notes	246,907,000
Total borrowings	6,237,674,000
Total borrowings, carrying value	6,162,530,000
Total borrowings, fair value of collateral	6,528,921,000
Successor Company | Collaterized loan obligation secured notes
Details of Company's borrowings
Par	5,580,364,000
Total borrowings, carrying value	5,501,099,000
Total borrowings, fair value of collateral	6,528,921,000
Successor Company | CLO 2005-1 senior secured notes
Details of Company's borrowings
Par	192,384,000
Total borrowings, carrying value	192,260,000
Weighted Average Borrowing Rate (as a percent)	1.84%
Weighted Average Remaining Maturity	847 days
Total borrowings, fair value of collateral	224,716,000
Successor Company | CLO 2005-2 senior secured notes
Details of Company's borrowings
Par	242,928,000
Total borrowings, carrying value	242,365,000
Weighted Average Borrowing Rate (as a percent)	0.68%
Weighted Average Remaining Maturity	1061 days
Total borrowings, fair value of collateral	381,362,000
Successor Company | CLO 2006-1 senior secured notes
Details of Company's borrowings
Par	166,841,000
Total borrowings, carrying value	166,710,000
Weighted Average Borrowing Rate (as a percent)	1.28%
Weighted Average Remaining Maturity	1333 days
Total borrowings, fair value of collateral	400,165,000
Successor Company | CLO 2007-1 senior secured notes
Details of Company's borrowings
Par	1,906,409,000
Total borrowings, carrying value	1,891,228,000
Weighted Average Borrowing Rate (as a percent)	0.80%
Weighted Average Remaining Maturity	2327 days
Total borrowings, fair value of collateral	2,182,078,000
Successor Company | CLO 2007-1 mezzanine notes
Details of Company's borrowings
Par	489,723,000
Total borrowings, carrying value	486,575,000
Weighted Average Borrowing Rate (as a percent)	3.84%
Weighted Average Remaining Maturity	2327 days
Total borrowings, fair value of collateral	560,538,000
Successor Company | CLO 2007-1 subordinated notes
Details of Company's borrowings
Par	134,468,000
Total borrowings, carrying value	119,112,000
Weighted Average Borrowing Rate (as a percent)	13.75%
Weighted Average Remaining Maturity	2327 days
Total borrowings, fair value of collateral	153,912,000
Successor Company | CLO 2007-A subordinated notes
Details of Company's borrowings
Par	15,096,000
Total borrowings, carrying value	25,921,000
Weighted Average Borrowing Rate (as a percent)	88.02%
Weighted Average Remaining Maturity	1019 days
Total borrowings, fair value of collateral	66,044,000
Successor Company | CLO 2011-1 senior debt
Details of Company's borrowings
Par	402,515,000
Total borrowings, carrying value	402,515,000
Weighted Average Borrowing Rate (as a percent)	1.58%
Weighted Average Remaining Maturity	1323 days
Total borrowings, fair value of collateral	508,625,000
Successor Company | CLO 2012-1 senior secured notes
Details of Company's borrowings
Par	367,500,000
Total borrowings, carrying value	364,063,000
Weighted Average Borrowing Rate (as a percent)	2.33%
Weighted Average Remaining Maturity	3637 days
Total borrowings, fair value of collateral	365,662,000
Successor Company | CLO 2012-1 subordinated notes
Details of Company's borrowings
Par	18,000,000
Total borrowings, carrying value	12,986,000
Weighted Average Borrowing Rate (as a percent)	16.86%
Weighted Average Remaining Maturity	3637 days
Total borrowings, fair value of collateral	17,910,000
Successor Company | CLO 2013-1 senior secured notes
Details of Company's borrowings
Par	458,500,000
Total borrowings, carrying value	441,153,000
Weighted Average Borrowing Rate (as a percent)	1.96%
Weighted Average Remaining Maturity	3849 days
Total borrowings, fair value of collateral	477,691,000
Successor Company | CLO 2013-2 senior secured notes
Details of Company's borrowings
Par	339,250,000
Total borrowings, carrying value	331,383,000
Weighted Average Borrowing Rate (as a percent)	2.21%
Weighted Average Remaining Maturity	4041 days
Total borrowings, fair value of collateral	357,722,000
Successor Company | CLO 9 senior secured notes
Details of Company's borrowings
Par	463,750,000
Par		463,800,000
Total borrowings, carrying value	449,349,000
Weighted Average Borrowing Rate (as a percent)	2.28%
Weighted Average Remaining Maturity	4306 days
Total borrowings, fair value of collateral	474,072,000
Successor Company | CLO 9 senior secured notes | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)		2.01%
Successor Company | CLO 9 subordinated notes
Details of Company's borrowings
Par	15,000,000
Par		15,000,000
Total borrowings, carrying value	13,531,000
Weighted Average Remaining Maturity	4306 days
Total borrowings, fair value of collateral	15,334,000
Successor Company | CLO 10 senior secured notes
Details of Company's borrowings
Par	368,000,000
Total borrowings, carrying value	361,948,000
Weighted Average Borrowing Rate (as a percent)	2.50%
Weighted Average Remaining Maturity	4002 days
Total borrowings, fair value of collateral	343,090,000
Successor Company | CLO 10 senior secured notes | Nonaffiliates
Details of Company's borrowings
Par			368,000,000
Successor Company | CLO 10 senior secured notes | Nonaffiliates | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)			2.09%
Successor Company | 8.375% Senior Notes
Details of Company's borrowings
Par	258,750,000
Total borrowings	290,861,000
Weighted Average Borrowing Rate (as a percent)	8.38%
Weighted Average Remaining Maturity	9816 days
Successor Company | 7.500% Senior notes
Details of Company's borrowings
Par	115,043,000
Total borrowings	123,663,000
Weighted Average Borrowing Rate (as a percent)	7.50%
Weighted Average Remaining Maturity	9941 days
Successor Company | Junior subordinated notes
Details of Company's borrowings
Par	283,517,000
Total borrowings	246,907,000
Weighted Average Borrowing Rate (as a percent)	5.39%
Weighted Average Remaining Maturity	7949 days
Predecessor Company
Details of Company's borrowings
Collateralized loan obligation secured debt				5,249,383,000
Credit facilities				125,289,000
Senior notes				362,276,000
Junior subordinated notes				283,517,000
Total borrowings, carrying value				6,020,465,000
Total borrowings, fair value of collateral				6,645,905,000
Predecessor Company | Collaterized loan obligation secured notes
Details of Company's borrowings
Total borrowings, fair value of collateral				6,431,970,000
Predecessor Company | CLO 2005-1 senior secured notes
Details of Company's borrowings
Collateralized loan obligation secured debt				193,909,000
Weighted Average Borrowing Rate (as a percent)				0.73%
Weighted Average Remaining Maturity				1212 days
Total borrowings, fair value of collateral				303,104,000
Predecessor Company | CLO 2005-2 senior secured notes
Details of Company's borrowings
Collateralized loan obligation secured debt				335,570,000
Weighted Average Borrowing Rate (as a percent)				0.63%
Weighted Average Remaining Maturity				1426 days
Total borrowings, fair value of collateral				496,917,000
Predecessor Company | CLO 2006-1 senior secured notes
Details of Company's borrowings
Collateralized loan obligation secured debt				384,925,000
Weighted Average Borrowing Rate (as a percent)				0.69%
Weighted Average Remaining Maturity				1698 days
Total borrowings, fair value of collateral				649,894,000
Predecessor Company | CLO 2007-1 senior secured notes
Details of Company's borrowings
Collateralized loan obligation secured debt				2,075,040,000
Weighted Average Borrowing Rate (as a percent)				0.79%
Weighted Average Remaining Maturity				2692 days
Total borrowings, fair value of collateral				2,354,938,000
Predecessor Company | CLO 2007-1 mezzanine notes
Details of Company's borrowings
Collateralized loan obligation secured debt				406,428,000
Weighted Average Borrowing Rate (as a percent)				3.65%
Weighted Average Remaining Maturity				2692 days
Total borrowings, fair value of collateral				461,250,000
Predecessor Company | CLO 2007-1 subordinated notes
Details of Company's borrowings
Collateralized loan obligation secured debt				136,097,000
Weighted Average Borrowing Rate (as a percent)				18.15%
Weighted Average Remaining Maturity				2692 days
Total borrowings, fair value of collateral				154,456,000
Predecessor Company | CLO 2007-A senior secured notes
Details of Company's borrowings
Collateralized loan obligation secured debt				428,152,000
Weighted Average Borrowing Rate (as a percent)				1.57%
Weighted Average Remaining Maturity				1384 days
Total borrowings, fair value of collateral				540,677,000
Predecessor Company | CLO 2007-A mezzanine notes
Details of Company's borrowings
Collateralized loan obligation secured debt				55,327,000
Weighted Average Borrowing Rate (as a percent)				7.44%
Weighted Average Remaining Maturity				1384 days
Total borrowings, fair value of collateral				69,867,000
Predecessor Company | CLO 2007-A subordinated notes
Details of Company's borrowings
Collateralized loan obligation secured debt				15,096,000
Weighted Average Borrowing Rate (as a percent)				42.22%
Weighted Average Remaining Maturity				1384 days
Total borrowings, fair value of collateral				19,063,000
Predecessor Company | CLO 2011-1 senior debt
Details of Company's borrowings
Collateralized loan obligation secured debt				388,703,000
Weighted Average Borrowing Rate (as a percent)				1.25%
Weighted Average Remaining Maturity				1688 days
Total borrowings, fair value of collateral				517,597,000
Predecessor Company | CLO 2011-1 senior debt | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)					1.35%
Predecessor Company | CLO 2012-1 senior secured notes
Details of Company's borrowings
Collateralized loan obligation secured debt				362,727,000
Weighted Average Borrowing Rate (as a percent)				2.34%
Weighted Average Remaining Maturity				4002 days
Total borrowings, fair value of collateral				376,603,000
Predecessor Company | CLO 2012-1 subordinated notes
Details of Company's borrowings
Collateralized loan obligation secured debt				18,000,000
Weighted Average Borrowing Rate (as a percent)				11.67%
Weighted Average Remaining Maturity				4002 days
Total borrowings, fair value of collateral				18,689,000
Predecessor Company | CLO 2013-1 senior secured notes
Details of Company's borrowings
Par						519,400,000
Collateralized loan obligation secured debt				449,409,000
Weighted Average Borrowing Rate (as a percent)				1.98%
Weighted Average Remaining Maturity				4214 days
Total borrowings, fair value of collateral				468,915,000
Predecessor Company | CLO 2013-1 senior secured notes | Nonaffiliates
Details of Company's borrowings
Par						458,500,000
Predecessor Company | CLO 2013-1 senior secured notes | Nonaffiliates | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)						1.67%
Predecessor Company | CLO 2013-2 senior secured notes
Details of Company's borrowings
Par							384,000,000
Predecessor Company | CLO 2013-2 senior secured notes | Nonaffiliates
Details of Company's borrowings
Par							339,300,000
Predecessor Company | CLO 2013-2 senior secured notes | Nonaffiliates | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)							2.16%
Predecessor Company | 2015 Facility
Details of Company's borrowings
Credit facilities				75,000,000
Weighted Average Borrowing Rate (as a percent)				1.39%
Weighted Average Remaining Maturity				699 days
Predecessor Company | 2015 Facility | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)								2.25%
Predecessor Company | 2015 Natural Resources Facility
Details of Company's borrowings
Credit facilities				50,289,000
Weighted Average Borrowing Rate (as a percent)				2.42%
Weighted Average Remaining Maturity				674 days
Total borrowings, fair value of collateral				213,935,000
Predecessor Company | 2015 Natural Resources Facility | Minimum | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)									1.75%
Predecessor Company | 2015 Natural Resources Facility | Maximum | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)									2.75%
Predecessor Company | 2018 Natural Resources Facility
Details of Company's borrowings
Credit facilities				0
Weighted Average Remaining Maturity				1519 days
Predecessor Company | 2018 Natural Resources Facility | Minimum | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)				1.75%						1.75%
Predecessor Company | 2018 Natural Resources Facility | Maximum | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)				3.25%						3.25%
Predecessor Company | Total credit facilities
Details of Company's borrowings
Credit facilities				125,289,000
Total borrowings, fair value of collateral				213,935,000
Predecessor Company | 8.375% Senior Notes
Details of Company's borrowings
Senior notes				250,800,000
Weighted Average Borrowing Rate (as a percent)				8.38%
Weighted Average Remaining Maturity				10181 days
Predecessor Company | 7.500% Senior notes
Details of Company's borrowings
Senior notes				111,476,000
Weighted Average Borrowing Rate (as a percent)				7.50%
Weighted Average Remaining Maturity				10306 days
Predecessor Company | Junior subordinated notes
Details of Company's borrowings
Junior subordinated notes				$283,517,000
Weighted Average Borrowing Rate (as a percent)				5.39%
Weighted Average Remaining Maturity				8347 days

BORROWINGS_Details_2

BORROWINGS (Details 2) (USD $)	8 Months Ended	1 Months Ended	0 Months Ended		4 Months Ended	12 Months Ended		0 Months Ended
	Dec. 31, 2014	Feb. 28, 2015	Sep. 16, 2014	Dec. 18, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 27, 2013	Jan. 23, 2014	Jun. 25, 2013
Successor Company
Details of Company's borrowings
Collateralized loan obligation secured debt repaid	$1,045,041,000
Successor Company | Senior Notes Non-Called Legacy CLO
Details of Company's borrowings
Collateralized loan obligation secured debt repaid	500,800,000
Successor Company | CLO 2006-1 senior and mezzanine notes
Details of Company's borrowings
Collateralized loan obligation secured debt repaid		181,800,000
Successor Company | CLO 2006-1 senior and mezzanine notes | Interest rate swaps
Details of Company's borrowings
Notional amount		84,000,000
Successor Company | CLO 2007-A senior secured and junior secured mezzanine notes
Details of Company's borrowings
Collateralized loan obligation secured debt repaid	494,900,000
Successor Company | CLO 2011-1 senior debt
Details of Company's borrowings
Collateralized loan obligation secured debt repaid	49,400,000
Successor Company | CLO 2007-1 Class E secured notes
Details of Company's borrowings
Par amount of notes issued	37,500,000
Proceeds from senior notes	37,600,000
Successor Company | CLO 2006-1 Class E secured notes
Details of Company's borrowings
Par amount of notes issued	15,000,000
Proceeds from senior notes	15,000,000
Successor Company | CLO 9 notes
Details of Company's borrowings
Par amount of notes issued			518,000,000
Successor Company | CLO 9 senior secured notes
Details of Company's borrowings
Par amount of notes issued			463,800,000
Successor Company | CLO 9 senior secured notes | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)			2.01%
Successor Company | CLO 9 subordinated notes
Details of Company's borrowings
Par amount of notes issued			15,000,000
Successor Company | CLO 10 notes
Details of Company's borrowings
Par amount of notes issued				415,600,000
Successor Company | CLO 10 senior secured notes | Nonaffiliates
Details of Company's borrowings
Par amount of notes issued				368,000,000
Floating rate senior secured note				343,000,000
Fixed rate senior secured note				25,000,000
Fixed rate (as a percent)				4.90%
Successor Company | CLO 10 senior secured notes | Nonaffiliates | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)				2.09%
Predecessor Company
Details of Company's borrowings
Collateralized loan obligation secured debt repaid					221,914,000	839,625,000	979,667,000
Predecessor Company | Senior Notes Non-Called Legacy CLO
Details of Company's borrowings
Collateralized loan obligation secured debt repaid					182,600,000	759,200,000
Predecessor Company | CLO 2011-1 senior debt
Details of Company's borrowings
Collateralized loan obligation secured debt repaid					39,400,000	77,200,000
Increase in the maximum borrowing capacity								300,000,000
Predecessor Company | CLO 2011-1 senior debt | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)								1.35%
Predecessor Company | CLO 2011-1 senior debt | Maximum
Details of Company's borrowings
Increase in current borrowing capacity								225,000,000
Predecessor Company | CLO 2007-1 Class E secured notes
Details of Company's borrowings
Par amount of notes issued					21,900,000
Proceeds from senior notes					21,900,000
Predecessor Company | CLO 2007-A Class G secured notes
Details of Company's borrowings
Par amount of notes issued					29,800,000
Proceeds from senior notes					30,200,000
Predecessor Company | CLO 2007-A Class H secured notes
Details of Company's borrowings
Proceeds from senior notes					30,100,000
Par amount of notes issued					29,800,000
Predecessor Company | CLO 2013-2 senior secured notes
Details of Company's borrowings
Par amount of notes issued									384,000,000
Predecessor Company | CLO 2013-2 senior secured notes | Nonaffiliates
Details of Company's borrowings
Par amount of notes issued									339,300,000
Floating rate senior secured note									319,300,000
Fixed rate senior secured note									20,000,000
Fixed rate (as a percent)									3.74%
Predecessor Company | CLO 2013-2 senior secured notes | Nonaffiliates | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)									2.16%
Predecessor Company | CLO 2013-1 senior secured notes
Details of Company's borrowings
Par amount of notes issued										519,400,000
Predecessor Company | CLO 2013-1 senior secured notes | Nonaffiliates
Details of Company's borrowings
Par amount of notes issued										458,500,000
Floating rate senior secured note										442,000,000
Fixed rate senior secured note										16,500,000
Fixed rate (as a percent)										3.73%
Predecessor Company | CLO 2013-1 senior secured notes | Nonaffiliates | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)										1.67%
Predecessor Company | Class D and Class E Secured Notes 2007 C L O A [Member]
Details of Company's borrowings
Par amount of notes issued					61,100,000
Proceeds from senior notes					61,300,000
Predecessor Company | CLO 2005-1 Class D through F secured notes
Details of Company's borrowings
Par amount of notes issued					72,000,000
Proceeds from senior notes					$71,500,000

BORROWINGS_Details_3

BORROWINGS (Details 3) (Predecessor Company, USD $)	0 Months Ended				12 Months Ended
	Nov. 30, 2012	20-May-14	Nov. 14, 2013	Feb. 27, 2013	Dec. 31, 2013	15-May-14
Details of Company's borrowings
Amount outstanding					125,289,000
2015 Facility
Details of Company's borrowings
Credit facility term	3 years
Current borrowing capacity under line of credit facility	150,000,000
Amount outstanding					75,000,000
2015 Facility | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)	2.25%
2015 Facility | Alternate base rate
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)	1.25%
2015 Natural Resources Facility
Details of Company's borrowings
Credit facility term		5 years
Current borrowing capacity under line of credit facility		75,000,000
Amount outstanding					50,289,000
2015 Natural Resources Facility | Minimum | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)			1.75%
2015 Natural Resources Facility | Maximum | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)			2.75%
2018 Natural Resources Facility
Details of Company's borrowings
Credit facility term				5 years
Maximum borrowing capacity				6,000,000		68,500,000
Amount outstanding					0
2018 Natural Resources Facility | Minimum | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)				1.75%	1.75%
2018 Natural Resources Facility | Maximum | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)				3.25%	3.25%

BORROWINGS_Details_4

BORROWINGS (Details 4) (Predecessor Company, USD $)	3 Months Ended	12 Months Ended	0 Months Ended
Share data in Millions, unless otherwise specified	Mar. 31, 2013	Dec. 31, 2013	Jan. 18, 2013
Details of Company's borrowings
Amount of debt that had been tendered for conversion	$172,500,000	$186,254,000
Number of common shares of the entity issued in exchange of convertible notes (in shares)	26.1
7 500% convertible senior notes
Details of Company's borrowings
Interest rate (as a percent)			7.50%
Convertible senior notes issued, principal amount			172,500,000
Conversion rate of common stock shares per $1,000 principal amount (in shares per USD)			141.8256
Principal amount used for debt instrument conversion ratio			1,000
Conversion rate of additional common shares issued upon conversion per $1,000 principal amount to account for the make-whole premium (in shares per USD)			9.2324
Amount of debt that had been tendered for conversion			$172,500,000
Number of common shares of the entity issued in exchange of convertible notes (in shares)			26.1

BORROWINGS_Details_5

BORROWINGS (Details 5) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
1 - 3 years	$450,408
3 - 5 years	569,356
More than 5 years	5,217,910
Prepayments of long-term debt	0
CLO 2005-1 senior secured notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
1 - 3 years	192,384
Total borrowings	192,384
CLO 2005-2 senior secured notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
1 - 3 years	242,928
Total borrowings	242,928
CLO 2006-1 senior secured notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
3 - 5 years	166,841
Total borrowings	166,841
CLO 2007-1 senior secured notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
More than 5 years	2,530,600
Total borrowings	2,530,600
CLO 2007-A senior secured notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
1 - 3 years	15,096
Total borrowings	15,096
CLO 2011-1 senior debt
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
3 - 5 years	402,515
Total borrowings	402,515
CLO 2012-1 senior secured notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
More than 5 years	385,500
Total borrowings	385,500
CLO 2013-1 senior secured notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
More than 5 years	458,500
Total borrowings	458,500
CLO 2013-2 senior secured notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
More than 5 years	339,250
Total borrowings	339,250
CLO 9 notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
More than 5 years	478,750
Total borrowings	478,750
CLO 10 notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
More than 5 years	368,000
Total borrowings	368,000
Total credit facilities
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
Total borrowings	6,237,674
Senior notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
More than 5 years	373,793
Total borrowings	373,793
Junior subordinated notes
Entity's contractual obligations (excluding interest) under borrowing agreements, payments due by period
More than 5 years	283,517
Total borrowings	$283,517

DERIVATIVE_INSTRUMENTS_Details

DERIVATIVE INSTRUMENTS (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Successor Company
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value	($21,561)
Successor Company | Free-Standing Derivatives: | Interest rate swaps
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Notional amount	426,000
Estimated Fair Value	-54,071
Successor Company | Free-Standing Derivatives: | Foreign exchange forward contracts
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Notional amount	-442,181
Estimated Fair Value	27,428
Successor Company | Free-Standing Derivatives: | Total Rate of Return Swaps
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value	-130
Successor Company | Free-Standing Derivatives: | Options
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value	5,212
Predecessor Company
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value		-51,411
Predecessor Company | Cash Flow Hedges: | Interest rate swaps
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Notional amount		478,333
Estimated Fair Value		-42,078
Predecessor Company | Free-Standing Derivatives: | Commodity swaps
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value		1,493
Predecessor Company | Free-Standing Derivatives: | Credit default swaps-protection purchased
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Notional amount		-100,000
Estimated Fair Value		-2,019
Predecessor Company | Free-Standing Derivatives: | Foreign exchange forward contracts
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Notional amount		-320,380
Estimated Fair Value		-25,258
Predecessor Company | Free-Standing Derivatives: | Foreign exchange options
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Notional amount		129,900
Estimated Fair Value		8,941
Predecessor Company | Free-Standing Derivatives: | Common stock warrants
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value		945
Predecessor Company | Free-Standing Derivatives: | Total Rate of Return Swaps
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value		-229
Predecessor Company | Free-Standing Derivatives: | Options
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value		$6,794

DERIVATIVE_INSTRUMENTS_Details1

DERIVATIVE INSTRUMENTS (Details 2) (Predecessor Company, USD $)	4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Predecessor Company
Net (losses) gains recognized in accumulated other comprehensive loss on cash flow hedges
Net (losses) gains recognized in accumulated other comprehensive loss on cash flow hedges	($5,442)	$48,479	$10,169

DERIVATIVE_INSTRUMENTS_Details2

DERIVATIVE INSTRUMENTS (Details 3) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Successor Company | Foreign exchange options and forward contracts
Notional amount
Notional amount of liability	$442,200
Predecessor Company | Foreign exchange options and forward contracts
Notional amount
Notional amount of liability		190,500
Predecessor Company | Free-Standing Derivatives: | Credit default swaps-protection purchased
Notional amount
Notional amount of liability		$100,000

DERIVATIVE_INSTRUMENTS_Details3

DERIVATIVE INSTRUMENTS (Details 4) (Free-Standing Derivatives:, USD $)	8 Months Ended	4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor Company
Effect on income from free-standing derivatives
Realized gains (losses)	($6,620)
Unrealized gains (losses)	-11,887
Total	-18,507
Successor Company | Interest rate swaps
Effect on income from free-standing derivatives
Unrealized gains (losses)	-6,890
Total	-6,890
Successor Company | Commodity swaps
Effect on income from free-standing derivatives
Realized gains (losses)	-962
Unrealized gains (losses)	-698
Total	-1,660
Successor Company | Foreign exchange options and forward contracts
Effect on income from free-standing derivatives
Realized gains (losses)	-6,609
Unrealized gains (losses)	-1,561
Total	-8,170
Successor Company | Common stock warrants
Effect on income from free-standing derivatives
Realized gains (losses)	1,237
Unrealized gains (losses)	-1,082
Total	155
Successor Company | Total Rate of Return Swaps
Effect on income from free-standing derivatives
Realized gains (losses)	-286
Unrealized gains (losses)	-184
Total	-470
Successor Company | Options
Effect on income from free-standing derivatives
Unrealized gains (losses)	-1,472
Total	-1,472
Predecessor Company
Effect on income from free-standing derivatives
Realized gains (losses)		-9,099	2,031	-2,337
Unrealized gains (losses)		-684	-8,869	246
Total		-9,783	-6,838	-2,091
Predecessor Company | Commodity swaps
Effect on income from free-standing derivatives
Realized gains (losses)		-2,515	1,296	3,554
Unrealized gains (losses)		-5,856	-5,562	721
Total		-8,371	-4,266	4,275
Predecessor Company | Credit Default Swaps
Effect on income from free-standing derivatives
Realized gains (losses)		-2,167	-4,408	-6,079
Unrealized gains (losses)		1,986	188	942
Total		-181	-4,220	-5,137
Predecessor Company | Foreign exchange options and forward contracts
Effect on income from free-standing derivatives
Realized gains (losses)		-2,068	1,104	-503
Unrealized gains (losses)		2,784	-2,096	-2,544
Total		716	-992	-3,047
Predecessor Company | Common stock warrants
Effect on income from free-standing derivatives
Realized gains (losses)			2,327	691
Unrealized gains (losses)		137	-1,503	986
Total		137	824	1,677
Predecessor Company | Total Rate of Return Swaps
Effect on income from free-standing derivatives
Realized gains (losses)		-2,349	1,803
Unrealized gains (losses)		284	-229	141
Total		-2,065	1,574	141
Predecessor Company | Options
Effect on income from free-standing derivatives
Realized gains (losses)			-91
Unrealized gains (losses)		-19	333
Total		($19)	$242

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
	item
Contingencies
Number of Delaware actions voluntarily dismissed	2
Successor Company
Guarantees
Non-recourse debt	457.3
Financial guarantees related to natural resources investments	0
Estimated future contributions for interests in joint ventures and partnerships	162
Successor Company | Corporate Loans, at Estimated Fair Value
Guarantees
Unfunded financing commitments for corporate loans	9.5
Predecessor Company
Guarantees
Non-recourse debt		231.7
Financial guarantees related to natural resources investments		17.9
Estimated future contributions for interests in joint ventures and partnerships		325.5
Predecessor Company | Corporate Loans
Guarantees
Aggregate par amounts to purchase corporate loans		62.7
Unfunded financing commitments for corporate loans		$17.40

SHAREHOLDERS_EQUITY_Details

SHAREHOLDERS' EQUITY (Details) (USD $)	12 Months Ended		0 Months Ended			4 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Apr. 30, 2014	Dec. 16, 2013	Jan. 17, 2013	Apr. 30, 2014	Dec. 31, 2012	Jun. 27, 2014
KKR & Co.
Stock-based compensation
Number of common shares issued								100
Number of common shares outstanding								100
Successor Company
Stock-based compensation
Preferred shares, shares issued	14,950,000
Number of common shares issued	100
Number of common shares outstanding	100
Successor Company | Common share options
Stock-based compensation
Exercise price of share options granted, minimum (as a percent)	100.00%
Successor Company | Common share options | Maximum
Stock-based compensation
Termination period from date of grant	10 years
Predecessor Company
Stock-based compensation
Preferred shares, shares issued		14,950,000
Net proceeds from issuance of preferred stock (in dollars)		$361,622,000
Number of common shares issued		204,824,159
Number of common shares outstanding		204,824,159
Predecessor Company | KFN | KKR & Co.
Stock-based compensation
Exchange ratio of share based awards under merger transaction			0.51	0.51
Predecessor Company | Series A LLC Preferred Shares
Stock-based compensation
Preferred shares, shares issued					14,950,000
Gross proceeds from issue of preferred shares (in dollars)					373,800,000
Net proceeds from issuance of preferred stock (in dollars)					362,000,000
Preferred shares, dividend rate (as a percent)			7.38%		7.38%
Predecessor Company | Restricted common shares
Restricted common share transactions
Unvested shares at the beginning of the period	669,828	531,190				669,828	386,521
Issued (in shares)		331,297					301,860
Vested (in shares)		-192,659					-157,191
Vested and cancelled (in shares)						-243,648
Unvested shares at the end of the period		669,828	426,180			426,180	531,190
Unrecognized compensation cost (in dollars)		$3,400,000	2,200,000			$2,200,000	$2,900,000
Predecessor Company | Restricted common shares | KFN | KKR & Co.
Stock-based compensation
Exchange ratio of share based awards under merger transaction			0.51
Predecessor Company | Restricted common shares | Manager
Restricted common share transactions
Unvested shares at the beginning of the period	584,634	438,937				584,634	240,845
Issued (in shares)		292,009					258,303
Vested (in shares)		-146,312					-60,211
Vested and cancelled (in shares)						-243,648
Unvested shares at the end of the period		584,634	340,986			340,986	438,937
Value of unvested restricted common shares granted (in dollars per share)		$12.19	11.54			$11.54	$10.56
Predecessor Company | Restricted common shares | Directors
Restricted common share transactions
Unvested shares at the beginning of the period		92,253	85,194				145,676
Issued (in shares)		39,288					43,557
Vested (in shares)		-46,347					-96,980
Unvested shares at the end of the period		85,194	85,194			85,194	92,253
Predecessor Company | Common share options
Stock-based compensation
Authorized shares available to satisfy awards as of the balance sheet date			8,964,625			8,964,625
Predecessor Company | Phantom share
Stock-based compensation
Exchange ratio of share based awards under merger transaction			0.51
Predecessor Company | Phantom share | Directors | KFN | KKR & Co.
Stock-based compensation
Exchange ratio of share based awards under merger transaction			0.51

SHAREHOLDERS_EQUITY_Details_2

SHAREHOLDERS' EQUITY (Details 2) (Predecessor Company, Common share options, USD $)	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Predecessor Company | Common share options
Number of Options
Outstanding at the beginning of the period (in shares)	1,932,279	1,932,279	1,932,279	1,932,279
Outstanding at the end of the period (in shares)	1,932,279	1,932,279	1,932,279	1,932,279
Exercisable at the end of the period (in shares)	1,932,279	1,932,279	1,932,279
Weighted Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)	$20	$20	$20	$20
Outstanding at the end of the period (in dollars per share)	$20	$20	$20	$20

SHAREHOLDERS_EQUITY_Details_3

SHAREHOLDERS' EQUITY (Details 3) (Predecessor Company, Restricted common shares, USD $)	4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Stock-based compensation
Share-based compensation expense (in dollars)	$1,018	$4,559	$3,202
Manager
Stock-based compensation
Share-based compensation expense (in dollars)	690	3,524	2,270
Directors
Stock-based compensation
Share-based compensation expense (in dollars)	$328	$1,035	$932

MANAGEMENT_AGREEMENT_AND_RELAT2

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details) (USD $)	8 Months Ended	12 Months Ended	4 Months Ended	12 Months Ended		3 Months Ended
	Dec. 31, 2014	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2007
		item
		period
Successor Company
Management Agreement and Related Party Transactions
Related party management compensation	$33,764,000
Successor Company | CLO Management Fees
Management Agreement and Related Party Transactions
Number of CLOs the Company owns less than 100% of subordinated notes	3
Successor Company | CLO Management Fees | Maximum
Management Agreement and Related Party Transactions
Entity's ownership percentage in subordinated notes (as a percent)	100.00%
Successor Company | CLO Management Fees | CLO 2013-1 and CLO 2013-2
Management Agreement and Related Party Transactions
Entity's ownership percentage in subordinated notes (as a percent)	100.00%
Successor Company | Manager
Management Agreement and Related Party Transactions
Renewal period		1 year
Votes for termination, minimum (as a percent)	66.70%	66.70%
Notice period for termination		180 days
Multiplier used to determine termination fee		4
Number of 12 month periods considered for calculation of termination fee (in periods)		2
Specified period for which average annual incentive fee to be considered		12 months
Successor Company | Manager | Base Management Fees
Management Agreement and Related Party Transactions
Related party transaction expense	15,145,000
Common share closing price, minimum (in dollars per share)	$20	20
Number of consecutive trading days	5 days
Successor Company | Manager | Incentive Fees
Management Agreement and Related Party Transactions
Related party transaction expense	0
Successor Company | Collateral manager | CLO Management Fees
Management Agreement and Related Party Transactions
Related party transaction expense	18,619,000
Fees, waived	4,200,000
Predecessor Company
Management Agreement and Related Party Transactions
Related party management compensation			29,841,000	68,576,000	72,339,000
Predecessor Company | Manager | Base Management Fees
Management Agreement and Related Party Transactions
Related party transaction expense			5,253,000	25,029,000	28,244,000
Common shares offering						230,400,000
Common share right offering						270,000,000
Fees, waived			2,900,000	8,800,000	8,800,000
Predecessor Company | Manager | Incentive Fees
Management Agreement and Related Party Transactions
Related party transaction expense			12,882,000	22,741,000	37,588,000
Predecessor Company | Manager | Manager Share-Based Compensation
Management Agreement and Related Party Transactions
Related party transaction expense			690,000	3,524,000	2,270,000
Predecessor Company | Collateral manager | CLO Management Fees
Management Agreement and Related Party Transactions
Related party transaction expense			11,016,000	17,282,000	4,237,000
Fees, waived			$1,600,000	$19,700,000	$32,200,000

MANAGEMENT_AGREEMENT_AND_RELAT3

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details 2) (Manager, Base Management Fees, USD $)	8 Months Ended	4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor Company
Management Agreement and Related Party Transactions
Base management fees, gross	$25,883
CLO management fees credit	-9,968
Other related party fees credit	-770
Total related party transaction expense	15,145
Predecessor Company
Management Agreement and Related Party Transactions
Base management fees, gross		13,364	39,065	28,244
CLO management fees credit		-8,111	-10,042
Other related party fees credit			-3,994
Total related party transaction expense		$5,253	$25,029	$28,244

MANAGEMENT_AGREEMENT_AND_RELAT4

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details 3) (USD $)	8 Months Ended	4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor Company
Management Agreement and Related Party Transactions
Incentive fee payable	$5,404
Successor Company | Collateral manager | CLO Management Fees
Management Agreement and Related Party Transactions
Charged and retained CLO management fees	8,651
CLO management fees credit	9,968
Total related party transaction expense	18,619
Successor Company | Manager | Incentive Fees
Management Agreement and Related Party Transactions
Total related party transaction expense	0
Successor Company | Manager | Reimbursable General and Administrative Expenses
Management Agreement and Related Party Transactions
Total related party transaction expense	3,000
Predecessor Company
Management Agreement and Related Party Transactions
Incentive fee payable			5,574
Predecessor Company | Restricted common shares
Management Agreement and Related Party Transactions
Expenses recognized for restricted common shares granted		1,018	4,559	3,202
Predecessor Company | Collateral manager | CLO Management Fees
Management Agreement and Related Party Transactions
Charged and retained CLO management fees		2,905	7,240	4,237
CLO management fees credit		8,111	10,042
Total related party transaction expense		11,016	17,282	4,237
Predecessor Company | Manager | Incentive Fees
Management Agreement and Related Party Transactions
Total related party transaction expense		12,882	22,741	37,588
Predecessor Company | Manager | Manager Share-Based Compensation
Management Agreement and Related Party Transactions
Total related party transaction expense		690	3,524	2,270
Predecessor Company | Manager | Manager Share-Based Compensation | Restricted common shares
Management Agreement and Related Party Transactions
Expenses recognized for restricted common shares granted		700	3,500	2,300
Predecessor Company | Manager | Reimbursable General and Administrative Expenses
Management Agreement and Related Party Transactions
Total related party transaction expense		$2,800	$9,800	$10,200

MANAGEMENT_AGREEMENT_AND_RELAT5

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details 4) (USD $)	8 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Successor Company
Contributions and Distribution
Cash	$235,759,000
Securities	116,526,000
Loans	16,049,000
Equity investments, at estimated fair value	38,346,000
Interests in joint ventures and partnerships	67,310,000
Other	854,000
Total contributions from Parent	474,844,000
Cash	192,037,000
Equity investments, at estimated fair value	101,042,000
Oil and gas properties, net	179,203,000
Total distributions to Parent	472,282,000
Successor Company | Affiliates
Investments in affiliates
Investment in affiliates, number of issuers	19
Estimated Fair Value	1,700,000,000
Successor Company | Affiliates | Corporate Loans, at Estimated Fair Value
Investments in affiliates
Estimated Fair Value	1,600,000,000
Successor Company | Affiliates | Corporate debt securities
Investments in affiliates
Estimated Fair Value	9,500,000
Successor Company | Affiliates | Equity investments, at estimated fair value
Investments in affiliates
Estimated Fair Value	13,600,000
Successor Company | Affiliates | Joint ventures and partnerships
Investments in affiliates
Estimated Fair Value	618,600,000
Successor Company | Affiliates | Affiliated investments | Percent to total investment in corporate loans, debt securities and other investments
Investments in affiliates
Investment in affiliates as a percentage of total investment (in percentage)	20.00%
Predecessor Company | Affiliates
Investments in affiliates
Investment in affiliates, number of issuers		28
Estimated Fair Value		2,100,000,000
Predecessor Company | Affiliates | Corporate loans
Investments in affiliates
Estimated Fair Value		1,900,000,000
Predecessor Company | Affiliates | Corporate debt securities
Investments in affiliates
Estimated Fair Value		52,800,000
Predecessor Company | Affiliates | Equity investments, at estimated fair value
Investments in affiliates
Estimated Fair Value		84,500,000
Predecessor Company | Affiliates | Joint ventures and partnerships
Investments in affiliates
Aggregate cost amount		400,300,000
Predecessor Company | Affiliates | Affiliated investments | Percent to total investment in corporate loans, debt securities and other investments
Investments in affiliates
Investment in affiliates as a percentage of total investment (in percentage)		27.00%

INCOME_TAXES_Details

INCOME TAXES (Details) (USD $)	2 Months Ended	3 Months Ended		8 Months Ended	12 Months Ended	1 Months Ended	3 Months Ended					4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2014	Apr. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor Company
Current:
Federal income tax				($63)
State income tax				126
Total				63
Deferred:
Federal income tax				343
State income tax				78
Total				421
Total income tax expense (benefit)	28	422	34	484
Combined federal and state income tax rate (as a percent)					39.81%
Predecessor Company
Current:
Federal income tax												-4,304	2,988	3,514
State income tax												137	480	759
Total												-4,167	3,468	4,273
Deferred:
Federal income tax												4,329	-3,001	-6,221
State income tax														-1,519
Total												4,329	-3,001	-7,740
Total income tax expense (benefit)						$143	$19	$33	$18	($42)	$458	$162	$467	($3,467)
Combined federal and state income tax rate (as a percent)													41.50%	39.55%

INCOME_TAXES_Details_2

INCOME TAXES (Details 2) (USD $)	2 Months Ended	3 Months Ended		8 Months Ended	1 Months Ended	3 Months Ended					4 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2014	Apr. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor Company
Reconciliation of the applicable statutory United States income tax rate to the effective tax rate
Income before taxes at statutory rate				($76,561)
Income passed through to shareholders				83,098
REIT income not subject to tax				-6,072
State and local income taxes, net of federal benefit				82
Withholding taxes				21
Other				-84
Total income tax expense (benefit)	28	422	34	484
Predecessor Company
Reconciliation of the applicable statutory United States income tax rate to the effective tax rate
Income before taxes at statutory rate											37,150	102,794	120,667
Income passed through to shareholders											-34,377	-93,260	-118,983
REIT income not subject to tax											-2,773	-9,141	-4,681
State and local income taxes, net of federal benefit											88	-464	-414
Withholding taxes											25	172	72
Other											49	366	-128
Total income tax expense (benefit)					$143	$19	$33	$18	($42)	$458	$162	$467	($3,467)

INCOME_TAXES_Details_3

INCOME TAXES (Details 3) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Deferred tax assets:
Unrealized losses from investments in domestic corporate subsidiaries		$4,329
Total deferred tax assets		4,329
Deferred tax liabilities:
Unrealized gains from investments in domestic corporate subsidiaries	421
Total deferred tax liabilities	421
Net deferred tax assets	($421)	$4,329

FAIR_VALUE_OF_FINANCIAL_INSTRU2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $)	8 Months Ended	4 Months Ended	12 Months Ended
	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Successor Company
Assets:
Corporate loans, net of allowance for loan losses of $224,999 as of December 31, 2013	$6,506,564,000
Liabilities:
Senior notes	414,524,000
Junior subordinated notes	246,907,000
Oil and natural gas properties
Impairment charges of oil and natural gas properties	0
Oil and natural gas properties	120,274,000
Successor Company | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash, restricted cash, and cash equivalents	610,912,000
Liabilities:
Senior notes	413,215,000
Successor Company | Significant Unobservable Inputs (Level 3)
Liabilities:
Junior subordinated notes	228,087,000
Successor Company | Carrying Amount
Assets:
Cash, restricted cash, and cash equivalents	610,912,000
Liabilities:
Senior notes	414,524,000
Junior subordinated notes	246,907,000
Successor Company | Estimated Fair Value
Assets:
Cash, restricted cash, and cash equivalents	610,912,000
Liabilities:
Senior notes	413,215,000
Junior subordinated notes	228,087,000
Predecessor Company
Assets:
Allowances for loan losses			224,999,000
Corporate loans held for sale			279,748,000
Liabilities:
Collateralized loan obligation secured debt			5,249,383,000
Senior notes			362,276,000
Junior subordinated notes			283,517,000
Oil and natural gas properties
Impairment charges of oil and natural gas properties		0	10,400,000	3,300,000
Oil and natural gas properties			400,369,000
Predecessor Company | Proved oil and natural gas properties
Oil and natural gas properties
Impairment charges of oil and natural gas properties			10,400,000
Predecessor Company | Corporate Loans
Assets:
Allowances for loan losses		223,541,000	224,999,000	223,472,000	191,407,000
Predecessor Company | Corporate Loans Held for Sale
Assets:
Corporate loans held for sale		546,100,000	279,700,000	128,300,000
Predecessor Company | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash, restricted cash, and cash equivalents			507,552,000
Liabilities:
Senior notes			393,772,000
Predecessor Company | Significant Other Observable Inputs (Level 2)
Assets:
Corporate loans, net of allowance for loan losses of $224,999 as of December 31, 2013			5,691,988,000
Corporate loans held for sale			267,169,000
Other assets			5,513,000
Predecessor Company | Significant Unobservable Inputs (Level 3)
Assets:
Corporate loans, net of allowance for loan losses of $224,999 as of December 31, 2013			359,653,000
Corporate loans held for sale			14,109,000
Private equity investments, at cost			4,496,000
Liabilities:
Collateralized loan obligation secured debt			5,179,207,000
Credit facilities			125,289,000
Junior subordinated notes			247,416,000
Predecessor Company | Carrying Amount
Assets:
Cash, restricted cash, and cash equivalents			507,552,000
Corporate loans, net of allowance for loan losses of $224,999 as of December 31, 2013			5,949,492,000
Corporate loans held for sale			279,748,000
Private equity investments, at cost			405,000
Other assets			5,763,000
Liabilities:
Collateralized loan obligation secured debt			5,249,383,000
Credit facilities			125,289,000
Senior notes			362,276,000
Junior subordinated notes			283,517,000
Predecessor Company | Carrying Amount | Proved oil and natural gas properties
Oil and natural gas properties
Oil and natural gas properties			16,100,000
Predecessor Company | Estimated Fair Value
Assets:
Cash, restricted cash, and cash equivalents			507,552,000
Corporate loans, net of allowance for loan losses of $224,999 as of December 31, 2013			6,051,641,000
Corporate loans held for sale			281,278,000
Private equity investments, at cost			4,496,000
Other assets			5,513,000
Liabilities:
Collateralized loan obligation secured debt			5,179,207,000
Credit facilities			125,289,000
Senior notes			393,772,000
Junior subordinated notes			247,416,000
Predecessor Company | Estimated Fair Value | Proved oil and natural gas properties
Oil and natural gas properties
Oil and natural gas properties			$5,700,000

FAIR_VALUE_OF_FINANCIAL_INSTRU3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Apr. 30, 2014
In Thousands, unless otherwise specified
Successor Company
Assets:
Total securities	$638,605
Corporate loans	6,506,564
Equity investments, at estimated fair value	181,378
Interests in joint ventures and partnerships	718,772
Derivatives:
Total derivatives	33,566
Liabilities:
Collateralized loan obligation secured notes	6,237,674
Derivatives:
Total derivatives	55,127
Successor Company | Recurring basis | Estimated Fair Value
Assets:
Total securities	638,605
Corporate loans	6,506,564
Equity investments, at estimated fair value	181,378
Interests in joint ventures and partnerships	718,772
Other assets	4,645
Derivatives:
Total derivatives	33,566
Total	8,083,530
Liabilities:
Collateralized loan obligation secured notes	5,501,099
Derivatives:
Total derivatives	55,127
Total	5,556,226
Successor Company | Recurring basis | Estimated Fair Value | Residential mortgage-backed securities
Assets:
Trading securities	55,184
Successor Company | Recurring basis | Estimated Fair Value | Corporate debt securities
Assets:
Trading securities	583,421
Successor Company | Recurring basis | Estimated Fair Value | Interest rate swaps
Derivatives:
Derivative liabilities	54,071
Successor Company | Recurring basis | Estimated Fair Value | Foreign exchange forward contracts
Derivatives:
Derivative assets	28,354
Derivatives:
Derivative liabilities	926
Successor Company | Recurring basis | Estimated Fair Value | Total Rate of Return Swaps
Derivatives:
Derivative liabilities	130
Successor Company | Recurring basis | Estimated Fair Value | Options
Derivatives:
Derivative assets	5,212
Successor Company | Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Equity investments, at estimated fair value	25,692
Derivatives:
Total	25,692
Successor Company | Recurring basis | Significant Other Observable Inputs (Level 2)
Assets:
Total securities	266,387
Corporate loans	6,159,487
Equity investments, at estimated fair value	73,967
Other assets	4,645
Derivatives:
Total derivatives	28,354
Total	6,532,840
Derivatives:
Total derivatives	55,127
Total	55,127
Successor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Corporate debt securities
Assets:
Trading securities	266,387
Successor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Interest rate swaps
Derivatives:
Derivative liabilities	54,071
Successor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Foreign exchange forward contracts
Derivatives:
Derivative assets	28,354
Derivatives:
Derivative liabilities	926
Successor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Total Rate of Return Swaps
Derivatives:
Derivative liabilities	130
Successor Company | Recurring basis | Significant Unobservable Inputs (Level 3)
Assets:
Total securities	372,218
Corporate loans	347,077
Equity investments, at estimated fair value	81,719
Interests in joint ventures and partnerships	718,772
Derivatives:
Total derivatives	5,212
Total	1,524,998
Liabilities:
Collateralized loan obligation secured notes	5,501,099
Derivatives:
Total	5,501,099
Successor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Residential mortgage-backed securities
Assets:
Trading securities	55,184
Successor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Corporate debt securities
Assets:
Trading securities	317,034
Successor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Options
Derivatives:
Derivative assets	5,212
Predecessor Company
Assets:
Securities available-for-sale		350,341
Total securities		573,312
Corporate loans		237,480
Equity investments, at estimated fair value		181,212
Interests in joint ventures and partnerships		436,241
Derivatives:
Total derivatives		30,224
Liabilities:
Collateralized loan obligation secured debt		5,249,383
Derivatives:
Total derivatives		81,635
Predecessor Company | Equity investments, at estimated fair value
Assets:
Equity investments, at estimated fair value			16,100
Predecessor Company | Estimated Fair Value
Assets:
Other assets		5,513
Liabilities:
Collateralized loan obligation secured debt		5,179,207
Predecessor Company | Significant Other Observable Inputs (Level 2)
Assets:
Other assets		5,513
Predecessor Company | Significant Unobservable Inputs (Level 3)
Liabilities:
Collateralized loan obligation secured debt		5,179,207
Predecessor Company | Recurring basis | Portion at estimated fair value
Assets:
Securities available-for-sale		350,341
Predecessor Company | Recurring basis | Estimated Fair Value
Assets:
Total securities		573,312
Corporate loans		237,480
Equity investments, at estimated fair value		181,212
Interests in joint ventures and partnerships		430,083
Derivatives:
Total derivatives		30,224
Total		1,452,311
Derivatives:
Total derivatives		81,635
Total		81,635
Predecessor Company | Recurring basis | Estimated Fair Value | Other securities, at estimated fair value.
Assets:
Trading securities		146,967
Predecessor Company | Recurring basis | Estimated Fair Value | Residential mortgage-backed securities
Assets:
Trading securities		76,004
Predecessor Company | Recurring basis | Estimated Fair Value | Interest rate swaps
Derivatives:
Derivative assets		3,290
Derivatives:
Derivative liabilities		45,368
Predecessor Company | Recurring basis | Estimated Fair Value | Commodity swaps
Derivatives:
Derivative assets		5,408
Derivatives:
Derivative liabilities		3,915
Predecessor Company | Recurring basis | Estimated Fair Value | Credit default swaps-protection purchased
Derivatives:
Derivative liabilities		2,019
Predecessor Company | Recurring basis | Estimated Fair Value | Foreign exchange forward contracts
Derivatives:
Derivative assets		4,846
Derivatives:
Derivative liabilities		30,104
Predecessor Company | Recurring basis | Estimated Fair Value | Foreign exchange options
Derivatives:
Derivative assets		8,941
Predecessor Company | Recurring basis | Estimated Fair Value | Common stock warrants
Derivatives:
Derivative assets		945
Predecessor Company | Recurring basis | Estimated Fair Value | Total Rate of Return Swaps
Derivatives:
Derivative liabilities		229
Predecessor Company | Recurring basis | Estimated Fair Value | Options
Derivatives:
Derivative assets		6,794
Predecessor Company | Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Equity investments, at estimated fair value		39,515
Interests in joint ventures and partnerships		14,836
Derivatives:
Total		54,351
Predecessor Company | Recurring basis | Significant Other Observable Inputs (Level 2)
Assets:
Total securities		366,377
Corporate loans		84,680
Equity investments, at estimated fair value		3,638
Derivatives:
Total derivatives		14,489
Total		469,184
Derivatives:
Total derivatives		81,635
Total		81,635
Predecessor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Other securities, at estimated fair value.
Assets:
Trading securities		39,437
Predecessor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Interest rate swaps
Derivatives:
Derivative assets		3,290
Derivatives:
Derivative liabilities		45,368
Predecessor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Commodity swaps
Derivatives:
Derivative assets		5,408
Derivatives:
Derivative liabilities		3,915
Predecessor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Credit default swaps-protection purchased
Derivatives:
Derivative liabilities		2,019
Predecessor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Foreign exchange forward contracts
Derivatives:
Derivative assets		4,846
Derivatives:
Derivative liabilities		30,104
Predecessor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Common stock warrants
Derivatives:
Derivative assets		945
Predecessor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Total Rate of Return Swaps
Derivatives:
Derivative liabilities		229
Predecessor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Portion at estimated fair value
Assets:
Securities available-for-sale		326,940
Predecessor Company | Recurring basis | Significant Unobservable Inputs (Level 3)
Assets:
Total securities		206,935
Corporate loans		152,800
Equity investments, at estimated fair value		138,059
Interests in joint ventures and partnerships		415,247
Derivatives:
Total derivatives		15,735
Total		928,776
Predecessor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Other securities, at estimated fair value.
Assets:
Trading securities		107,530
Predecessor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Residential mortgage-backed securities
Assets:
Trading securities		76,004
Predecessor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Foreign exchange options
Derivatives:
Derivative assets		8,941
Predecessor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Options
Derivatives:
Derivative assets		6,794
Predecessor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Portion at estimated fair value
Assets:
Securities available-for-sale		$23,401

FAIR_VALUE_OF_FINANCIAL_INSTRU4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) (Predecessor Company, USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets and liabilities measured at fair value on a recurring and non- recurring basis
Net carrying value	$6,466,720
Corporate Loans Held for Sale
Assets and liabilities measured at fair value on a recurring and non- recurring basis
Net carrying value	279,748
Amortized Cost | Corporate Loans Held for Sale
Assets and liabilities measured at fair value on a recurring and non- recurring basis
Loans held for sale	183,600
Non-recurring basis | Significant Other Observable Inputs (Level 2)
Assets and liabilities measured at fair value on a recurring and non- recurring basis
Loans held for sale	90,485
Asset, fair value	90,485
Non-recurring basis | Significant Unobservable Inputs (Level 3)
Assets and liabilities measured at fair value on a recurring and non- recurring basis
Loans held for sale	5,568
Asset, fair value	5,568
Non-recurring basis | Estimated Fair Value
Assets and liabilities measured at fair value on a recurring and non- recurring basis
Loans held for sale	96,053
Asset, fair value	$96,053

FAIR_VALUE_OF_FINANCIAL_INSTRU5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) (USD $)	8 Months Ended	1 Months Ended	3 Months Ended	4 Months Ended	12 Months Ended
	Dec. 31, 2014	Apr. 30, 2014	Mar. 31, 2014	Apr. 30, 2014	Dec. 31, 2013
Successor Company | Collateralized loan obligation secured notes
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	$5,663,665,000
Total gain or losses (for the period)
Included in earnings	4,123,000
Purchases	885,983,000
Settlements	-1,044,426,000
Balance at the end of the period	5,501,099,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-4,393,000
Successor Company | Corporate debt securities
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	156,500,000
Total gain or losses (for the period)
Included in earnings	-16,973,000
Purchases	83,402,000
Sales	-26,433,000
Settlements	120,538,000
Balance at the end of the period	317,034,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-16,787,000
Successor Company | Residential mortgage-backed securities
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	59,623,000
Total gain or losses (for the period)
Included in earnings	4,981,000
Settlements	-9,420,000
Balance at the end of the period	55,184,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	386,000
Successor Company | Corporate Loans, at Estimated Fair Value
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	294,218,000
Total gain or losses (for the period)
Included in earnings	-15,346,000
Transfers into Level 3	66,250,000
Purchases	2,588,000
Sales	-2,912,000
Settlements	2,279,000
Balance at the end of the period	347,077,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-15,305,000
Successor Company | Equity investments, at estimated fair value
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	157,765,000
Total gain or losses (for the period)
Included in earnings	-2,005,000
Transfers out of Level 3	-1,230,000
Sales	-17,535,000
Settlements	-55,276,000
Balance at the end of the period	81,719,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-791,000
Successor Company | Interests in Joint Ventures and Partnerships
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	472,467,000
Total gain or losses (for the period)
Included in earnings	-102,158,000
Purchases	90,566,000
Sales	-13,795,000
Settlements	271,692,000
Balance at the end of the period	718,772,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-106,215,000
Successor Company | Foreign exchange options
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	8,854,000
Total gain or losses (for the period)
Included in earnings	-8,854,000
Successor Company | Options
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	6,684,000
Total gain or losses (for the period)
Included in earnings	-1,472,000
Balance at the end of the period	5,212,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-1,472,000
Predecessor Company
Total gain or losses (for the period)
Transfers from Level 1 into Level 2		0		0
Transfers from Level 2 into Level 1		0		0
Predecessor Company | Securities
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		23,528,000	23,401,000	23,401,000	42,221,000
Total gain or losses (for the period)
Included in earnings		44,000	22,000		1,729,000
Included in other comprehensive income		33,000	121,000		-1,808,000
Transfers into Level 3		6,937,000
Purchases					4,613,000
Settlements		-32,000	-16,000		-23,354,000
Balance at the end of the period		30,510,000	23,528,000	30,510,000	23,401,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period				66,000	74,000
Predecessor Company | Other Securities, at Estimated Fair Value
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		125,511,000	107,530,000	107,530,000	2,909,000
Total gain or losses (for the period)
Included in earnings		479,000	3,059,000		3,485,000
Purchases			25,000,000		103,616,000
Settlements			-10,078,000		-2,480,000
Balance at the end of the period		125,990,000	125,511,000	125,990,000	107,530,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period				2,683,000	3,485,000
Predecessor Company | Residential mortgage-backed securities
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		58,753,000	76,004,000	76,004,000	83,842,000
Total gain or losses (for the period)
Included in earnings		1,416,000	3,088,000		7,711,000
Sales			-17,810,000
Settlements		-546,000	-2,529,000		-15,549,000
Balance at the end of the period		59,623,000	58,753,000	59,623,000	76,004,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period				5,242,000	21,796,000
Predecessor Company | Corporate Loans, at Estimated Fair Value
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		153,395,000	152,800,000	152,800,000	16,141,000
Total gain or losses (for the period)
Included in earnings		1,240,000	-5,123,000		8,996,000
Purchases			8,822,000		123,409,000
Settlements		2,272,000	-3,104,000		4,254,000
Balance at the end of the period		156,907,000	153,395,000	156,907,000	152,800,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period				4,445,000	8,700,000
Predecessor Company | Equity investments, at estimated fair value
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		258,977,000	138,059,000	138,059,000	97,746,000
Total gain or losses (for the period)
Included in earnings		12,126,000	9,076,000		10,555,000
Transfers out of Level 3		-119,033,000	-8,751,000
Purchases					30,113,000
Sales					-198,000
Settlements			120,593,000		-157,000
Balance at the end of the period		152,070,000	258,977,000	152,070,000	138,059,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period				20,499,000	10,854,000
Predecessor Company | Interests in Joint Ventures and Partnerships
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		494,420,000	415,247,000	415,247,000	142,477,000
Total gain or losses (for the period)
Included in earnings		-24,158,000	22,377,000		21,926,000
Purchases		1,615,000	42,683,000		299,039,000
Settlements		-1,184,000	14,113,000		-48,195,000
Balance at the end of the period		470,693,000	494,420,000	470,693,000	415,247,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period				-1,781,000	21,926,000
Predecessor Company | Foreign exchange options
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		8,128,000	8,941,000	8,941,000	8,277,000
Total gain or losses (for the period)
Included in earnings		726,000	-813,000		664,000
Balance at the end of the period		8,854,000	8,128,000	8,854,000	8,941,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period				-87,000	954,000
Predecessor Company | Common stock warrants
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period					1,574,000
Total gain or losses (for the period)
Included in earnings					167,000
Transfers out of Level 3					-945,000
Settlements					-796,000
Predecessor Company | Options
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		6,492,000	6,794,000	6,794,000
Total gain or losses (for the period)
Included in earnings		192,000	-302,000		211,000
Purchases					8,787,000
Settlements					-2,204,000
Balance at the end of the period		6,684,000	6,492,000	6,684,000	6,794,000
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period				($110,000)	$211,000

FAIR_VALUE_OF_FINANCIAL_INSTRU6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 5) (USD $)	8 Months Ended	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Liquids
Valuation techniques used for assets, measured at fair value
Forcasted revenue ratio	23.00%
Natural gas
Valuation techniques used for assets, measured at fair value
Forcasted revenue ratio	77.00%
Natural Resources
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	176,400
Successor Company | Minimum
Valuation techniques used for assets, measured at fair value
Weight ascribed to each valuation technique	0.00%
Successor Company | Maximum
Valuation techniques used for assets, measured at fair value
Weight ascribed to each valuation technique	-100.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Liabilities, fair value (in dollars)	5,501,099
Successor Company | Significant Unobservable Inputs (Level 3) | Corporate debt securities
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	317,034
Successor Company | Significant Unobservable Inputs (Level 3) | Residential mortgage-backed securities
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	55,184
Successor Company | Significant Unobservable Inputs (Level 3) | Corporate Loans, at Estimated Fair Value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	347,077
Successor Company | Significant Unobservable Inputs (Level 3) | Equity investments, at estimated fair value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	81,719
Successor Company | Significant Unobservable Inputs (Level 3) | Equity investments, at estimated fair value | Minimum
Valuation techniques used for assets, measured at fair value
Illiquidity discount	5.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	718,772
Successor Company | Significant Unobservable Inputs (Level 3) | Options
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	5,212
Percent valued using a specific techinque	50.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Weighted Average | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Discount margin	2.55%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Minimum | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Discount margin	0.95%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Maximum | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Discount margin	10.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate debt securities | Weighted Average
Valuation techniques used for assets, measured at fair value
Yield	17.00%
Net leverage	6
EBITDA multiple	7
Discount margin	905.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate debt securities | Minimum
Valuation techniques used for assets, measured at fair value
Yield	3.00%
Net leverage	5
EBITDA multiple	4
Discount margin	625.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate debt securities | Maximum
Valuation techniques used for assets, measured at fair value
Yield	19.00%
Net leverage	12
EBITDA multiple	11
Discount margin	1100.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate Loans, at Estimated Fair Value | Weighted Average
Valuation techniques used for assets, measured at fair value
Yield	12.00%
Net leverage	6
EBITDA multiple	9
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate Loans, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
Yield	3.00%
Net leverage	1
EBITDA multiple	5
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate Loans, at Estimated Fair Value | Maximum
Valuation techniques used for assets, measured at fair value
Yield	21.00%
Net leverage	13
EBITDA multiple	12
Successor Company | Significant Unobservable Inputs (Level 3) | Broker quotes | Corporate debt securities
Valuation techniques used for assets, measured at fair value
Offered quotes (in dollars per share)	101
Successor Company | Significant Unobservable Inputs (Level 3) | Broker quotes | Corporate debt securities | Weighted Average
Valuation techniques used for assets, measured at fair value
Offered quotes (in dollars per share)	101
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Weighted Average | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Probability of default	3.00%
Loss severity	32.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Minimum | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Probability of default	2.00%
Loss severity	30.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Maximum | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Probability of default	3.00%
Loss severity	37.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Residential mortgage-backed securities | Weighted Average
Valuation techniques used for assets, measured at fair value
Probability of default	8.00%
Loss severity	26.00%
Constant prepayment rate	12.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Residential mortgage-backed securities | Minimum
Valuation techniques used for assets, measured at fair value
Probability of default	0.00%
Loss severity	12.00%
Constant prepayment rate	4.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Residential mortgage-backed securities | Maximum
Valuation techniques used for assets, measured at fair value
Probability of default	21.00%
Loss severity	45.00%
Constant prepayment rate	19.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Equity investments, at estimated fair value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	9,500
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Equity investments, at estimated fair value | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	13.00%
LTM EBITDA exit multiple	8
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Equity investments, at estimated fair value | Minimum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	9.00%
LTM EBITDA exit multiple	5
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Equity investments, at estimated fair value | Maximum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	16.00%
LTM EBITDA exit multiple	10
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	207,600
Average price per BOE	21.46
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	12.00%
Average price per BOE	30.16
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	7.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	20.00%
Average price per BOE	35.67
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Options
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	14.00%
LTM EBITDA exit multiple	11
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	14.00%
LTM EBITDA exit multiple	11
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity investments, at estimated fair value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	67,400
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity investments, at estimated fair value | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	4
Forward EBITDA multiple	7
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity investments, at estimated fair value | Minimum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	1
Forward EBITDA multiple	4
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity investments, at estimated fair value | Maximum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	12
Forward EBITDA multiple	11
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	20,400
Forward EBITDA multiple	15
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	11
Forward EBITDA multiple	15
Current capitalization rate	7.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	10
Current capitalization rate	4.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	13
Current capitalization rate	15.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Options
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	9
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	9
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity investments, at estimated fair value | Weighted Average
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables	97.00%
Weight ascribed to discounted cash flows	83.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity investments, at estimated fair value | Minimum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables	0.00%
Weight ascribed to discounted cash flows	0.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity investments, at estimated fair value | Maximum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables	100.00%
Weight ascribed to discounted cash flows	100.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables	54.00%
Weight ascribed to discounted cash flows	79.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables	0.00%
Weight ascribed to discounted cash flows	0.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables	100.00%
Weight ascribed to discounted cash flows	100.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Options
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables	50.00%
Weight ascribed to discounted cash flows	50.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables	50.00%
Weight ascribed to discounted cash flows	50.00%
Predecessor Company | Minimum
Valuation techniques used for assets, measured at fair value
Weight ascribed to each valuation technique		0.00%
Predecessor Company | Maximum
Valuation techniques used for assets, measured at fair value
Weight ascribed to each valuation technique		-100.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Foreign exchange options
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		8,941
Predecessor Company | Significant Unobservable Inputs (Level 3) | Securities
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		23,401
Predecessor Company | Significant Unobservable Inputs (Level 3) | Other Securities, at Estimated Fair Value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		107,530
Predecessor Company | Significant Unobservable Inputs (Level 3) | Residential mortgage-backed securities
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		76,004
Predecessor Company | Significant Unobservable Inputs (Level 3) | Corporate Loans, at Estimated Fair Value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		152,800
Predecessor Company | Significant Unobservable Inputs (Level 3) | Equity investments, at estimated fair value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		138,059
Predecessor Company | Significant Unobservable Inputs (Level 3) | Equity investments, at estimated fair value | Minimum
Valuation techniques used for assets, measured at fair value
Illiquidity discount		5.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		415,247
Predecessor Company | Significant Unobservable Inputs (Level 3) | Options
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		6,794
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Securities | Weighted Average
Valuation techniques used for assets, measured at fair value
Yield		10.00%
Net leverage		12
EBITDA multiple		8
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Securities | Minimum
Valuation techniques used for assets, measured at fair value
Yield		6.00%
Net leverage		11
EBITDA multiple		8
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Securities | Maximum
Valuation techniques used for assets, measured at fair value
Yield		12.00%
Net leverage		12
EBITDA multiple		9
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Other Securities, at Estimated Fair Value
Valuation techniques used for assets, measured at fair value
Illiquidity discount		3.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Other Securities, at Estimated Fair Value | Weighted Average
Valuation techniques used for assets, measured at fair value
Yield		12.00%
Net leverage		1
Illiquidity discount		3.00%
EBITDA multiple		8
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Other Securities, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
Yield		7.00%
Net leverage		1
EBITDA multiple		7
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Other Securities, at Estimated Fair Value | Maximum
Valuation techniques used for assets, measured at fair value
Yield		17.00%
Net leverage		2
EBITDA multiple		8
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate Loans, at Estimated Fair Value | Weighted Average
Valuation techniques used for assets, measured at fair value
Yield		16.00%
Net leverage		7
EBITDA multiple		8
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate Loans, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
Yield		14.00%
Net leverage		4
EBITDA multiple		6
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate Loans, at Estimated Fair Value | Maximum
Valuation techniques used for assets, measured at fair value
Yield		23.00%
Net leverage		12
EBITDA multiple		11
Predecessor Company | Significant Unobservable Inputs (Level 3) | Broker quotes | Securities | Weighted Average
Valuation techniques used for assets, measured at fair value
Offered quotes (in dollars per share)		105
Predecessor Company | Significant Unobservable Inputs (Level 3) | Broker quotes | Securities | Minimum
Valuation techniques used for assets, measured at fair value
Offered quotes (in dollars per share)		104
Predecessor Company | Significant Unobservable Inputs (Level 3) | Broker quotes | Securities | Maximum
Valuation techniques used for assets, measured at fair value
Offered quotes (in dollars per share)		105
Predecessor Company | Significant Unobservable Inputs (Level 3) | Broker quotes | Other Securities, at Estimated Fair Value | Weighted Average
Valuation techniques used for assets, measured at fair value
Offered quotes (in dollars per share)		102
Predecessor Company | Significant Unobservable Inputs (Level 3) | Broker quotes | Other Securities, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
Offered quotes (in dollars per share)		101
Predecessor Company | Significant Unobservable Inputs (Level 3) | Broker quotes | Other Securities, at Estimated Fair Value | Maximum
Valuation techniques used for assets, measured at fair value
Offered quotes (in dollars per share)		102
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Residential mortgage-backed securities | Weighted Average
Valuation techniques used for assets, measured at fair value
Probability of default		7.00%
Loss severity		28.00%
Constant prepayment rate		15.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Residential mortgage-backed securities | Minimum
Valuation techniques used for assets, measured at fair value
Probability of default		0.00%
Loss severity		16.00%
Constant prepayment rate		3.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Residential mortgage-backed securities | Maximum
Valuation techniques used for assets, measured at fair value
Probability of default		21.00%
Loss severity		77.00%
Constant prepayment rate		35.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Equity investments, at estimated fair value | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		11.00%
LTM EBITDA exit multiple		10
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Equity investments, at estimated fair value | Minimum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		8.00%
LTM EBITDA exit multiple		4
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Equity investments, at estimated fair value | Maximum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		14.00%
LTM EBITDA exit multiple		11
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		12.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		8.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		24.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Options
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		12.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		12.00%
LTM EBITDA exit multiple		10
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Options | Minimum
Valuation techniques used for assets, measured at fair value
LTM EBITDA exit multiple		9
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flow | Options | Maximum
Valuation techniques used for assets, measured at fair value
LTM EBITDA exit multiple		10
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity investments, at estimated fair value | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		12
Forward EBITDA multiple		12
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity investments, at estimated fair value | Minimum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		6
Forward EBITDA multiple		10
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity investments, at estimated fair value | Maximum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		16
Forward EBITDA multiple		14
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		9
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		9
Current capitalization rate		7.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
Current capitalization rate		6.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
Current capitalization rate		9.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Options
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		9
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		9
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity investments, at estimated fair value | Weighted Average
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		50.00%
Weight ascribed to discounted cash flows		59.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity investments, at estimated fair value | Minimum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		33.00%
Weight ascribed to discounted cash flows		50.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity investments, at estimated fair value | Maximum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		100.00%
Weight ascribed to discounted cash flows		100.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		50.00%
Weight ascribed to discounted cash flows		50.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		50.00%
Weight ascribed to discounted cash flows		50.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		100.00%
Weight ascribed to discounted cash flows		100.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Options
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		50.00%
Weight ascribed to discounted cash flows		50.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		50.00%
Weight ascribed to discounted cash flows		50.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Option pricing model | Foreign exchange options | Weighted Average
Valuation techniques used for assets, measured at fair value
Forward and spot rates, Assets		1
Predecessor Company | Significant Unobservable Inputs (Level 3) | Option pricing model | Foreign exchange options | Minimum
Valuation techniques used for assets, measured at fair value
Forward and spot rates, Assets		0
Predecessor Company | Significant Unobservable Inputs (Level 3) | Option pricing model | Foreign exchange options | Maximum
Valuation techniques used for assets, measured at fair value
Forward and spot rates, Assets		1

SEGMENT_REPORTING_Details

SEGMENT REPORTING (Details) (USD $)	2 Months Ended	3 Months Ended		8 Months Ended		1 Months Ended	3 Months Ended					4 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2014	Apr. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor Company
Reconciliation of operating profit loss from segment to consolidated
Total revenues	$94,313,000	$131,276,000	$124,756,000		$350,345,000
Total investment costs and expenses	55,664,000	64,132,000	61,340,000		181,136,000
Total other income (loss)	20,887,000	-239,584,000	-125,685,000		-344,382,000
Total other expenses	14,364,000	14,310,000	14,898,000		43,572,000
Income tax expense (benefit)	28,000	422,000	34,000		484,000
Net income (loss)	45,144,000	-187,172,000	-77,201,000	-219,229,000	-219,229,000
Net income (loss) attributable to noncontrolling interests		-6,772,000	816,000		-5,956,000
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries	45,144,000	-180,400,000	-78,017,000		-213,273,000
Total assets		8,951,625,000		8,951,625,000	8,951,625,000
Successor Company | Noncontrolling interests
Reconciliation of operating profit loss from segment to consolidated
Net income (loss)				-5,956,000
Total assets		100,200,000		100,200,000	100,200,000
Successor Company | Noncontrolling interests | Credit
Reconciliation of operating profit loss from segment to consolidated
Total assets		62,700,000		62,700,000	62,700,000
Successor Company | Noncontrolling interests | Natural Resources
Reconciliation of operating profit loss from segment to consolidated
Total assets		37,400,000		37,400,000	37,400,000
Successor Company | Reportable segments | Credit
Reconciliation of operating profit loss from segment to consolidated
Total revenues					279,639,000
Total investment costs and expenses					142,204,000
Total other income (loss)					-241,035,000
Total other expenses					40,703,000
Income tax expense (benefit)					49,000
Net income (loss)					-144,352,000
Net income (loss) attributable to noncontrolling interests					-1,797,000
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries					-142,555,000
Total assets		8,438,227,000		8,438,227,000	8,438,227,000
Successor Company | Reportable segments | Natural Resources
Reconciliation of operating profit loss from segment to consolidated
Total revenues					57,616,000
Total investment costs and expenses					38,117,000
Total other income (loss)					-115,141,000
Total other expenses					2,219,000
Income tax expense (benefit)					0
Net income (loss)					-97,861,000
Net income (loss) attributable to noncontrolling interests					-4,159,000
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries					-93,702,000
Total assets		300,281,000		300,281,000	300,281,000
Successor Company | Reportable segments | Other
Reconciliation of operating profit loss from segment to consolidated
Total revenues					13,090,000
Total investment costs and expenses					815,000
Total other income (loss)					11,794,000
Total other expenses					476,000
Income tax expense (benefit)					435,000
Net income (loss)					23,158,000
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries					23,158,000
Total assets		213,006,000		213,006,000	213,006,000
Successor Company | Reconciling Items
Reconciliation of operating profit loss from segment to consolidated
Total revenues					0
Total investment costs and expenses					0
Total other income (loss)					0
Total other expenses					174,000
Income tax expense (benefit)					0
Net income (loss)					-174,000
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries					-174,000
Total assets		111,000		111,000	111,000
Predecessor Company
Reconciliation of operating profit loss from segment to consolidated
Total revenues						76,652,000	140,590,000	139,510,000	128,702,000	137,244,000	140,450,000	217,242,000	545,906,000	555,473,000
Total investment costs and expenses						28,055,000	73,770,000	81,586,000	77,877,000	65,193,000	81,049,000	101,825,000	305,705,000	318,375,000
Total other income (loss)						-16,506,000	72,840,000	33,244,000	6,226,000	37,235,000	74,220,000	56,334,000	150,925,000	205,822,000
Total other expenses						34,151,000	31,458,000	22,259,000	17,147,000	23,196,000	34,827,000	65,609,000	97,429,000	98,157,000
Income tax expense (benefit)						143,000	19,000	33,000	18,000	-42,000	458,000	162,000	467,000	-3,467,000
Net income (loss)						-2,203,000	108,183,000					105,980,000	293,230,000	348,230,000
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries						-2,203,000	108,183,000	68,876,000	39,886,000	86,132,000	98,336,000	105,980,000	293,230,000	348,230,000
Net (gain) loss on restructuring and extinguishment of debt													20,015,000	445,000
Total assets								8,717,198,000					8,717,198,000
Predecessor Company | Reportable segments | Credit
Reconciliation of operating profit loss from segment to consolidated
Total revenues												134,255,000	425,209,000	490,861,000
Total investment costs and expenses												62,485,000	218,600,000	257,269,000
Total other income (loss)												76,046,000	171,006,000	199,723,000
Total other expenses												23,121,000	60,870,000	48,640,000
Income tax expense (benefit)												146,000	450,000	-3,468,000
Net income (loss)												124,549,000	316,295,000	388,143,000
Total assets								8,020,353,000					8,020,353,000
Predecessor Company | Reportable segments | Natural Resources
Reconciliation of operating profit loss from segment to consolidated
Total revenues												61,782,000	119,178,000	64,535,000
Total investment costs and expenses												38,915,000	86,174,000	60,668,000
Total other income (loss)												-8,123,000	-13,642,000	1,881,000
Total other expenses												1,633,000	4,835,000	5,111,000
Net income (loss)												13,111,000	14,527,000	637,000
Total assets								505,029,000					505,029,000
Predecessor Company | Reportable segments | Other
Reconciliation of operating profit loss from segment to consolidated
Total revenues												21,205,000	1,519,000	77,000
Total investment costs and expenses												425,000	931,000	438,000
Total other income (loss)												-11,589,000	13,576,000	4,663,000
Total other expenses												230,000	606,000	217,000
Income tax expense (benefit)												16,000	17,000	1,000
Net income (loss)												8,945,000	13,541,000	4,084,000
Total assets								190,946,000					190,946,000
Predecessor Company | Reconciling Items
Reconciliation of operating profit loss from segment to consolidated
Total other income (loss)													-20,015,000	-445,000
Total other expenses												40,625,000	31,118,000	44,189,000
Net income (loss)												-40,625,000	-51,133,000	-44,634,000
Incentive fees												12,900,000	22,700,000	37,600,000
Net (gain) loss on restructuring and extinguishment of debt													20,000,000	400,000
Merger related transaction costs												22,700,000
Total assets								$870,000					$870,000

EARNINGS_PER_COMMON_SHARE_Deta

EARNINGS PER COMMON SHARE (Details) (USD $)	1 Months Ended	3 Months Ended					4 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Apr. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2014
KKR Fund Holdings
Earnings per common share
Number of common shares held										100
Predecessor Company
Reconciliation of basic and diluted net income and distributions per common share
Net income (loss)	($2,203)	$108,183	$68,876	$39,886	$86,132	$98,336	$105,980	$293,230	$348,230
Less: Preferred share distributions		6,891	6,891	6,891	6,891	6,738	6,891	27,411
Net income (loss) available to common shares	-2,203	101,292	61,985	32,995	79,241	91,598	99,089	265,819	348,230
Less: Dividends and undistributed earnings allocated to participating securities							292	904	1,116
Net income (loss) allocated to common shares							98,797	264,915	347,114
Effect of dilutive securities:
Interest on convertible senior notes									3,234
Net income (loss) allocated to common shares for diluted earnings per share							98,797	264,915	350,348
Basic:
Basic weighted average common shares outstanding (in shares)	204,398,000	204,236,000	204,154,000	204,134,000	204,108,000	197,153,000	204,276,000	202,411,000	177,838,000
Net income (loss) per common share (in dollars per share)	($0.01)	$0.49	$0.30	$0.16	$0.39	$0.46	$0.48	$1.31	$1.95
Diluted:
Dilutive effect of convertible senior notes (in shares)									9,585,000
Diluted weighted average common shares outstanding (in shares)	204,398,000	204,236,000	204,154,000	204,134,000	204,108,000	197,153,000	204,276,000	202,411,000	187,423,000
Net income (loss) per common share (in dollars per share)	($0.01)	$0.49	$0.30	$0.16	$0.39	$0.46	$0.48	$1.31	$1.87
Anti-dilutive securities
Anti-dilutive securities excluded from diluted earnings per share calculations (in shares)							1,932,279	1,932,279	1,932,279
Amount of debt that had been tendered for conversion						$172,500		$186,254
Number of common shares of the entity issued in exchange of convertible notes (in shares)						26,100,000

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) (Predecessor Company, USD $)	4 Months Ended	12 Months Ended
	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Components of changes in accumulated other comprehensive income (loss)
Beginning balance	($15,652,000)	($70,226,000)	($35,619,000)
Other comprehensive (loss) income before reclassifications	-8,056,000	38,811,000	58,527,000
Amounts reclassified from accumulated other comprehensive loss	-2,639,000	15,763,000	-93,134,000
Total other comprehensive income (loss)	-10,695,000	54,574,000	-34,607,000
Ending balance	-26,347,000	-15,652,000	-70,226,000
Impairment charge for investments which were determined to be other-than-temporary	4,400,000	19,500,000	8,400,000
Net unrealized gains on available-for-sale securities
Components of changes in accumulated other comprehensive income (loss)
Beginning balance	23,567,000	17,472,000	62,248,000
Other comprehensive (loss) income before reclassifications	-2,614,000	-9,668,000	48,358,000
Amounts reclassified from accumulated other comprehensive loss	-2,639,000	15,763,000	-93,134,000
Total other comprehensive income (loss)	-5,253,000	6,095,000	-44,776,000
Ending balance	18,314,000	23,567,000	17,472,000
Net unrealized losses on cash flow hedges
Components of changes in accumulated other comprehensive income (loss)
Beginning balance	-39,219,000	-87,698,000	-97,867,000
Other comprehensive (loss) income before reclassifications	-5,442,000	48,479,000	10,169,000
Total other comprehensive income (loss)	-5,442,000	48,479,000	10,169,000
Ending balance	($44,661,000)	($39,219,000)	($87,698,000)

SUMMARY_OF_QUARTERLY_INFORMATI2

SUMMARY OF QUARTERLY INFORMATION (UNAUDITED) (Details) (USD $)	2 Months Ended	3 Months Ended		8 Months Ended		1 Months Ended	3 Months Ended					4 Months Ended	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2014	Apr. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Apr. 30, 2014	Dec. 31, 2013	Dec. 31, 2012
Successor Company
Net investment income:
Total revenues	$94,313	$131,276	$124,756		$350,345
Total investment costs and expenses	55,664	64,132	61,340		181,136
Total other income	20,887	-239,584	-125,685		-344,382
Total other expenses	14,364	14,310	14,898		43,572
Income (loss) before income taxes	45,172	-186,750	-77,167		-218,745
Income tax expense (benefit)	28	422	34		484
Net income (loss)	45,144	-187,172	-77,201	-219,229	-219,229
Net income (loss) attributable to noncontrolling interests		-6,772	816		-5,956
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries	45,144	-180,400	-78,017		-213,273
Preferred share distributions	6,891	6,891	6,891		20,673
Net income (loss) available to common shares	38,253	-187,291	-84,908		-233,946
Predecessor Company
Net investment income:
Total revenues						76,652	140,590	139,510	128,702	137,244	140,450	217,242	545,906	555,473
Total investment costs and expenses						28,055	73,770	81,586	77,877	65,193	81,049	101,825	305,705	318,375
Total other income						-16,506	72,840	33,244	6,226	37,235	74,220	56,334	150,925	205,822
Total other expenses						34,151	31,458	22,259	17,147	23,196	34,827	65,609	97,429	98,157
Income (loss) before income taxes						-2,060	108,202	68,909	39,904	86,090	98,794	106,142	293,697	344,763
Income tax expense (benefit)						143	19	33	18	-42	458	162	467	-3,467
Net income (loss)						-2,203	108,183					105,980	293,230	348,230
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries						-2,203	108,183	68,876	39,886	86,132	98,336	105,980	293,230	348,230
Preferred share distributions							6,891	6,891	6,891	6,891	6,738	6,891	27,411
Net income (loss) available to common shares						($2,203)	$101,292	$61,985	$32,995	$79,241	$91,598	$99,089	$265,819	$348,230
Net income (loss) per common share:
Basic (in dollars per share)						($0.01)	$0.49	$0.30	$0.16	$0.39	$0.46	$0.48	$1.31	$1.95
Diluted (in dollars per share)						($0.01)	$0.49	$0.30	$0.16	$0.39	$0.46	$0.48	$1.31	$1.87
Weighted-average number of common shares outstanding:
Basic (in shares)						204,398	204,236	204,154	204,134	204,108	197,153	204,276	202,411	177,838
Diluted (in shares)						204,398	204,236	204,154	204,134	204,108	197,153	204,276	202,411	187,423

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (Successor Company, USD $)	8 Months Ended	0 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Feb. 26, 2015	Dec. 22, 2014	Mar. 26, 2015
Subsequent events
Cash distribution declared on preferred shares	$20,673
Common Shares | Subsequent Event
Subsequent events
Cash distribution declared on common shares		55,200
Cash distribution declared (in dollars per share)		$551,627
Series A LLC Preferred Shares
Subsequent events
Cash distribution declared (in dollars per share)	$0.46
Cash distribution declared on preferred shares			6,900
Series A LLC Preferred Shares | Subsequent Event
Subsequent events
Cash distribution declared (in dollars per share)				$0.46
Cash distribution declared on preferred shares				$6,900

Uncategorized_Items

Uncategorized Items
[us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest]	378,983,000