KKR Financial 10-Q 11 Aug 14 2014 Q2 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
	Jun. 30, 2014	Jul. 31, 2014
Document and Entity Information	'	'
Entity Registrant Name	'KKR Financial Holdings LLC	'
Entity Central Index Key	'0001386926	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Entity Current Reporting Status	'Yes	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	100
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q2	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Jun. 30, 2014	Apr. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Successor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company
Assets	'	'	'	'	'	'	'
Cash and cash equivalents	$197,850	$210,413	'	$157,167	$507,503	'	$237,606
Restricted cash and cash equivalents	608,870	'	'	350,385	'	'	'
Securities, at estimated fair value	570,071	'	'	573,312	'	'	'
Corporate loans, net (includes $6,293,540 measured at estimated fair value as of June 30, 2014 and $237,480 measured at estimated fair value and $279,748 loans held for sale as of December 31, 2013)	6,293,540	'	'	237,480	'	'	'
Corporate loans, net (includes $6,293,540 measured at estimated fair value as of June 30, 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 ($88,096 and zero pledged as collateral as of June 30, 2014 and December 31, 2013, respectively)	278,503	'	'	181,212	'	'	'
Oil and gas properties, net	525,678	'	'	400,369	'	'	'
Interests in joint ventures and partnerships, at estimated fair value	534,026	'	'	436,241	'	'	'
Derivative assets	22,991	'	'	30,224	'	'	'
Interest and principal receivable	40,015	'	'	33,570	'	'	'
Other assets	316,882	'	'	87,998	'	'	'
Total assets	9,388,426	'	'	8,717,198	'	'	'
Liabilities	'	'	'	'	'	'	'
Collateralized loan obligation secured notes (includes $5,547,914 and zero measured at estimated fair value as of June 30, 2014 and December 31, 2013, respectively)	5,547,914	'	'	5,249,383	'	'	'
Credit facilities	83,289	'	'	125,289	'	'	'
Senior notes	415,278	'	'	362,276	'	'	'
Junior subordinated notes	246,062	'	'	283,517	'	'	'
Accounts payable, accrued expenses and other liabilities	223,748	'	'	58,215	'	'	'
Accrued interest payable	22,061	'	'	23,575	'	'	'
Related party payable	4,420	'	'	5,574	'	'	'
Derivative liabilities	88,345	'	'	81,635	'	'	'
Total liabilities	6,631,117	'	'	6,189,464	'	'	'
Shareholders' equity	'	'	'	'	'	'	'
Preferred shares, no par value, 50,000,000 shares authorized and 14,950,000 issued and outstanding as of both June 30, 2014 and December 31, 2013	0	'	'	0	'	'	'
Common shares, no par value, 500,000,000 shares authorized, and 100 shares and 204,824,159 shares issued and outstanding as of June 30, 2014 and December 31, 2013, respectively	0	'	'	0	'	'	'
Paid-in-capital	2,763,922	'	'	3,315,117	'	'	'
Accumulated other comprehensive loss	'	-26,347	-21,372	-15,652	-39,643	-53,543	-70,226
Accumulated deficit	-6,613	'	'	-771,731	'	'	'
Total shareholders' equity	2,757,309	2,572,085	'	2,527,734	'	'	'
Total liabilities and shareholders' equity	$9,388,426	'	'	$8,717,198	'	'	'

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified	Successor Company	Predecessor Company
Corporate loans, estimated fair value (in dollars)	$6,293,540	$237,480
Corporate loans, held for sale (in dollars)	'	279,748
Equity investments, at estimated fair value, pledged as collateral (in dollars)	88,096	0
Collateralized loan obligation secured notes, estimated fair value (in dollars)	$5,547,914	$0
Preferred shares, no par value (in dollars per share)	'	'
Preferred shares, shares authorized	50,000,000	50,000,000
Preferred shares, shares issued	14,950,000	14,950,000
Preferred shares, shares outstanding	14,950,000	14,950,000
Common shares, no par value (in dollars per share)	'	'
Common shares, shares authorized	500,000,000	500,000,000
Common shares, shares issued	100	204,824,159
Common shares, shares outstanding	100	204,824,159

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	2 Months Ended		1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended	3 Months Ended	6 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2013
	Successor Company	Successor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company
		Nonaffiliates					Affiliates	Affiliates
Revenues	'	'	'	'	'	'	'	'
Loan interest income	$53,683	'	$29,802	$92,117	$114,096	$190,378	'	'
Securities interest income	5,087	'	3,480	13,531	13,081	28,393	'	'
Oil and gas revenue	31,930	'	17,754	27,867	61,782	51,672	'	'
Other	3,613	'	25,616	3,729	28,283	7,251	'	'
Total revenues	94,313	'	76,652	137,244	217,242	277,694	'	'
Investment costs and expenses	'	'	'	'	'	'	'	'
Interest expense	'	35,896	17,117	36,719	64,362	78,599	9,729	19,646
Provision for loan losses	'	'	'	'	'	11,068	'	'
Oil and gas production costs	7,860	'	3,938	9,349	14,772	17,257	'	'
Oil and gas depreciation, depletion and amortization	11,134	'	6,929	9,116	22,471	18,104	'	'
Other	774	'	71	280	220	1,568	'	'
Total investment costs and expenses	55,664	'	28,055	65,193	101,825	146,242	'	'
Other income (loss)	'	'	'	'	'	'	'	'
Net realized and unrealized gain (loss) on investments	54,100	'	-16,211	24,997	61,553	119,724	'	'
Net realized and unrealized (loss) gain on derivatives and foreign exchange	-9,164	'	-1,413	6,902	-9,783	-1,950	'	'
Net realized and unrealized loss on debt	-25,396	'	'	'	'	'	'	'
Net loss on restructuring and extinguishment of debt	0	'	'	'	'	-20,269	'	'
Other income	1,347	'	1,118	5,336	4,564	13,950	'	'
Total other income (loss)	20,887	'	-16,506	37,235	56,334	111,455	'	'
Other expenses	'	'	'	'	'	'	'	'
Related party management compensation	10,406	'	4,224	17,518	29,841	45,824	'	'
General, administrative and directors expenses	2,413	'	4,988	3,690	8,891	8,484	'	'
Professional services	1,545	'	24,939	1,988	26,877	3,715	'	'
Total other expenses	14,364	'	34,151	23,196	65,609	58,023	'	'
Income before income taxes	45,172	'	-2,060	86,090	106,142	184,884	'	'
Income tax expense (benefit)	28	'	143	-42	162	416	'	'
Net income (loss)	45,144	'	-2,203	86,132	105,980	184,468	'	'
Preferred share distributions	6,891	'	'	6,891	6,891	13,629	'	'
Net income (loss) available to common shares	$38,253	'	($2,203)	$79,241	$99,089	$170,839	'	'
Net (loss) income per common share:	'	'	'	'	'	'	'	'
Basic (in dollars per share)	'	'	($0.01)	$0.39	$0.48	$0.85	'	'
Diluted (in dollars per share)	'	'	($0.01)	$0.39	$0.48	$0.85	'	'
Weighted-average number of common shares outstanding:	'	'	'	'	'	'	'	'
Basic (in shares)	'	'	204,398	204,108	204,276	200,650	'	'
Diluted (in shares)	'	'	204,398	204,108	204,276	200,650	'	'
Distributions declared per common share (in dollars per share)	'	'	'	$0.21	$0.22	$0.47	'	'

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	2 Months Ended	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013
	Successor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company
Net income (loss)	$45,144	($2,203)	$86,132	$105,980	$184,468
Other comprehensive (loss) income:	'	'	'	'	'
Unrealized losses on securities available-for-sale	'	-3,364	-6,340	-5,253	-815
Unrealized (losses) gains on cash flow hedges	'	-1,611	20,240	-5,442	31,398
Total other comprehensive (loss) income	'	-4,975	13,900	-10,695	30,583
Comprehensive income (loss)	$45,144	($7,178)	$100,032	$95,285	$215,051

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Changes in Shareholders' Equity (USD $)

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

USD ($)

Preferred Shares

Preferred Shares Paid-In Capital

Common Shares

Common Shares Paid-In Capital

Accumulated Other Comprehensive Loss

Accumulated Deficit

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 ($)

Balance at Dec. 31, 2013

'

'

'

'

'

'

'

$2,527,734

'

$361,622

'

$2,953,495

($15,652)

($771,731)

Balance (in shares) at Dec. 31, 2013

'

'

'

'

'

'

'

'

14,950,000

'

204,824,159

'

'

'

Increase (Decrease) in Shareholders' Equity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income

'

'

'

'

'

'

'

105,980

'

'

'

'

'

105,980

Other comprehensive 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

'

'

'

'

'

'

'

2,572,085

'

361,622

'

2,954,513

-26,347

-717,703

Balance (in shares) at Apr. 30, 2014

'

'

'

'

'

'

'

'

14,950,000

'

204,824,159

'

'

'

Balance at Mar. 31, 2014

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Increase (Decrease) in Shareholders' Equity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income

'

'

'

'

'

'

'

-2,203

'

'

'

'

'

'

Other comprehensive loss

'

'

'

'

'

'

'

-4,975

'

'

'

'

'

'

Balance at Apr. 30, 2014

'

'

'

'

'

'

'

2,572,085

'

361,622

'

'

'

'

Balance (in shares) at Apr. 30, 2014

'

'

'

'

'

'

'

'

14,950,000

'

204,824,159

'

'

'

Increase (Decrease) in Shareholders' Equity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase accounting adjustments

191,371

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance at May. 31, 2014

2,763,456

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance (in shares) at May. 31, 2014

'

14,950,000

'

'

'

'

'

'

'

'

'

'

'

'

Balance at May. 01, 2014

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Increase (Decrease) in Shareholders' Equity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchase accounting adjustments

'

'

17,361

'

-570,040

26,347

717,703

'

'

'

'

'

'

'

Purchase accounting adjustments (in shares)

'

'

'

-204,824,000

'

'

'

'

'

'

'

'

'

'

Balance at May. 31, 2014

'

'

378,983

'

2,384,473

'

'

'

'

'

'

'

'

'

Balance (in shares) at May. 31, 2014

'

14,950,000

'

204,824,159

'

'

'

'

'

'

'

'

'

'

Balance at May. 01, 2014

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Increase (Decrease) in Shareholders' Equity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Reverse stock split (in shares)

'

'

'

-204,824,059

'

'

'

'

'

'

'

'

'

'

Net income

45,144

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance at Jun. 30, 2014

2,757,309

'

378,983

'

'

'

'

'

'

'

'

'

'

'

Balance (in shares) at Jun. 30, 2014

'

14,950,000

'

100

'

'

'

'

'

'

'

'

'

'

Balance at May. 31, 2014

2,763,456

'

'

'

2,384,473

'

'

'

'

'

'

'

'

'

Balance (in shares) at May. 31, 2014

'

14,950,000

'

'

'

'

'

'

'

'

'

'

'

'

Increase (Decrease) in Shareholders' Equity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net income

45,144

'

'

'

'

'

45,144

'

'

'

'

'

'

'

Distributions declared on preferred shares

-6,891

'

'

'

'

'

-6,891

'

'

'

'

'

'

'

Distributions to Parent

-44,866

'

'

'

'

'

-44,866

'

'

'

'

'

'

'

Capital contributions from Parent

466

'

'

'

466

'

'

'

'

'

'

'

'

'

Balance at Jun. 30, 2014

$2,757,309

'

$378,983

'

$2,384,939

'

($6,613)

'

'

'

'

'

'

'

Balance (in shares) at Jun. 30, 2014

'

14,950,000

'

'

'

'

'

'

'

'

'

'

'

'

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	2 Months Ended	4 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Apr. 30, 2014	Jun. 30, 2013	Jun. 30, 2013	Jun. 30, 2013
	Successor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company
				Affiliates	Nonaffiliates
Cash flows from operating activities	'	'	'	'	'
Net income	$45,144	$105,980	$184,468	'	'
Adjustments to reconcile net income to net cash provided by operating activities:	'	'	'	'	'
Net realized and unrealized loss on derivatives and foreign exchange	9,164	9,783	1,950	'	'
Net loss on restructuring and extinguishment of debt	0	'	20,269	'	'
Write-off of debt issuance costs	'	1,472	5,335	'	'
Lower of cost or estimated fair value adjustment on corporate loans held for sale	'	-5,038	8,650	'	'
Provision for loan losses	'	'	11,068	'	'
Impairment charges	'	4,391	12,489	'	'
Share-based compensation	'	1,018	1,896	'	'
Net realized and unrealized gain on investments	-54,100	-60,906	-140,863	'	'
Depreciation and net amortization	10,457	15,832	-11,852	'	'
Net realized and unrealized loss on debt	25,396	'	'	'	'
Changes in assets and liabilities:	'	'	'	'	'
Interest receivable	94	-6,753	6,991	'	'
Other assets	1,793	-19,668	-19,840	'	'
Related party payable	4,740	-1,815	-740	'	'
Accounts payable, accrued expenses and other liabilities	-21,190	27,211	-3,284	'	'
Preferred share distribution payable	'	-6,891	'	'	'
Accrued interest payable	'	'	'	-1,257	-5,889
Net cash provided by operating activities	25,913	63,146	69,391	'	'
Cash flows from investing activities	'	'	'	'	'
Principal payments from corporate loans	230,956	906,166	1,125,080	'	'
Principal payments from securities	6,797	21,223	106,881	'	'
Proceeds from sales of corporate loans	231,599	36,595	163,372	'	'
Proceeds from sales of securities	1,806	44,373	24,808	'	'
Proceeds from equity and other investments	24,409	48,911	28,559	'	'
Purchases of corporate loans	-314,846	-886,230	-875,234	'	'
Purchases of securities	-32,478	-78,106	-46,840	'	'
Purchases of equity and other investments	-56,540	-104,301	-127,047	'	'
Cover securities sold, not yet purchased	'	'	-480	'	'
Net change in proceeds, purchases, and settlements of derivatives	-2,627	-7,265	1,344	'	'
Net change in restricted cash and cash equivalents	41,094	-299,579	-289,398	'	'
Net cash provided by (used in) investing activities	130,170	-318,213	111,045	'	'
Cash flows from financing activities	'	'	'	'	'
Issuance of collateralized loan obligation secured notes	52,594	648,197	449,002	'	'
Retirement of collateralized loan obligation secured notes	-196,940	-221,914	-551,844	'	'
Proceeds from credit facilities	20,100	13,300	'	'	'
Repayment of credit facilities	'	-75,400	-61,700	'	'
Net proceeds from issuance of preferred shares	'	'	361,622	'	'
Distributions on common shares	-44,866	-45,061	-96,248	'	'
Distributions on preferred shares	'	-6,891	-6,738	'	'
Capital contributions from Parent	466	'	'	'	'
Other capitalized costs	'	-3,918	-4,633	'	'
Net cash (used in) provided by financing activities	-168,646	308,313	89,461	'	'
Net (decrease) increase in cash and cash equivalents	-12,563	53,246	269,897	'	'
Cash and cash equivalents at beginning of period	'	157,167	237,606	'	'
Cash and cash equivalents at end of period	197,850	210,413	507,503	'	'
Supplemental cash flow information	'	'	'	'	'
Cash paid for interest	24,196	53,576	84,238	'	'
Net cash paid for income taxes	59	157	4,760	'	'
Non-cash investing and financing activities	'	'	'	'	'
Issuance of restricted common shares	'	'	3,282	'	'
Loans transferred from held for investment to held for sale	'	348,808	76,803	'	'
Conversion of convertible senior notes to common shares	'	'	$186,254	'	'

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 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 both current income and capital appreciation by deploying capital to its strategies, which include bank loans and high yield securities, natural resources, special situations, mezzanine, commercial real estate and private equity with a focus on specialty lending. The Company’s holdings across these strategies primarily consist of below investment grade syndicated corporate loans, also known as leveraged loans, high yield debt securities, private equity, interests in joint ventures and partnerships, and working 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 a management agreement (the “Management Agreement”). KKR Asset Management 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 condensed consolidated financial statements for further details around the Merger Transaction.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The condensed 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.
	As further described in Note 3 to these condensed 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 condensed 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 condensed consolidated financial statements. This change in accounting basis is represented in the condensed 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 condensed consolidated financial statements. Accordingly, the Company’s accumulated deficit at June 30, 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 condensed 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 loss on debt, respectively, in the condensed 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 condensed consolidated financial statements are appropriate, actual results could differ from those estimates.
	Estimates of oil, natural gas and natural gas liquid (“NGL”) reserves and their values, future production rates and future costs and expenses are inherently uncertain, including many factors beyond the Company’s control. Reservoir engineering is a subjective process of estimating underground accumulations of oil, natural gas and NGL that cannot be measured in an exact manner. The accuracy of any reserve estimate is a function of many factors including the following: the quality and quantity of available data, the interpretation of that data, the accuracy of various mandated economic assumptions and the judgments of the individuals preparing the estimates. In addition, reserve estimates are a function of many assumptions, all of which could deviate significantly from actual results. As such, reserve estimates may materially vary from the ultimate quantities of oil, natural gas and NGL eventually recovered, and could materially affect the Company’s future depreciation, depletion and amortization expense (“DD&A”), its asset retirement obligations or impairment considerations.
	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”) and KKR Financial CLO 2013-2, Ltd. (“CLO 2013-2”) (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 June 30, 2014, the Company’s nine CLOs held $6.6 billion par amount, or $6.4 billion estimated fair value, of corporate debt investments. As of December 31, 2013, the Company had eight CLOs that 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 June 30, 2014 and December 31, 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.
	In addition, the Company has non-controlling 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 condensed 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 condensed 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 Investments, at Estimated Fair Value:  Equity investments, 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. Valuation models are generally based on market and income (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. 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.
	Interests in Joint Ventures and Partnerships:  Interests in joint ventures and partnerships include certain equity investments related to the oil and gas, commercial real estate and specialty lending sectors. Interests in joint ventures and partnerships 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. Valuation models are generally based on market and income (discounted cash flow) approaches, in which various internal and external factors are considered. Key inputs include the weighted average cost of capital and EBITDA multiples. In addition, an illiquidity discount is applied where appropriate.
	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 9 to these condensed 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
	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. The Company utilizes a valuation committee, whose members consist of the Company’s Chief Financial Officer, General Counsel and certain other employees of the Manager. The valuation committee is responsible for coordinating and implementing the Company’s quarterly 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. For assets classified as Level 3, the investment professionals are responsible for documenting preliminary valuations based on various factors including their evaluation of financial and operating data, company specific developments, market valuations of comparable companies and model projections discussed above. All 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 condensed 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 condensed consolidated statements of operations.
	On the condensed 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 condensed consolidated statements of operations. Comparatively, the Predecessor Company reported all unrealized gains and losses in accumulated other comprehensive loss on the condensed 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 condensed 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 condensed 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 condensed 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 non-controlling 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 condensed consolidated balance sheets.
	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 condensed 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.
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.
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.
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, 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 condensed 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 condensed 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 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, are charged to expense as incurred. Costs that are associated with the drilling of successful exploration wells are capitalized if proved reserves are found. Lease acquisition costs are 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 are expensed as incurred.
Expenditures for repairs and maintenance, including workovers, are charged to expense as incurred.
The capitalized costs of producing oil and natural gas properties are 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 are used in computing depletion rates for drilling and development costs and total proved reserves are used for depletion rates of leasehold costs.
Estimated dismantlement and abandonment costs for oil and natural gas properties, net of salvage value, are 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 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 are assessed periodically and, at a minimum, annually on a property-by-property basis, and any impairment in value is 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 finances 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 loss on debt in the condensed 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 condensed 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 condensed consolidated balance sheets.
Derivative Instruments
The Company recognizes all derivatives on the condensed 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 loss on derivatives and foreign exchange on the condensed 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 (loss) gain on derivatives and foreign exchange on the condensed 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 loss on derivatives and foreign exchange on the condensed consolidated statements of operations.
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 common shares will be required to take into account their allocable share of each item of the Company’s income, gain, loss, deduction, and credit that is allocated to such class of shares for the taxable year of the Company ending within or with their taxable year. Holders of the Company’s 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 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 taxable income allocable to shareholders.
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, 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 condensed 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.

MERGER_TRANSACTION

MERGER TRANSACTION	6 Months Ended
	Jun. 30, 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 non-controlling 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 one and four months ended April 30, 2014 within general, administrative and directors expenses on the condensed 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 non-controlling 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	6 Months Ended
	Jun. 30, 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 loss; (ii) other securities, at estimated fair value, with unrealized gains and losses recorded in the condensed consolidated statements of operations; and (iii) RMBS, at estimated fair value, with unrealized gains and losses recorded in the condensed consolidated statements of operations.
	Successor Company
	The following table summarizes the Company’s securities as of June 30, 2014, which are carried at estimated fair value (amounts in thousands):
		June 30, 2014
		Par		Amortized Cost			Estimated
							Fair Value
	Securities, at estimated fair value	$	617,495	$	559,247		$	570,071
	Total	$	617,495	$	559,247		$	570,071
	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 from securities for the two months ended June 30, 2014 (amounts in thousands):
		Two months ended
		June 30, 2014
	Net realized gains	$	735
	Net change in unrealized gains	10,823
	Net realized and unrealized gains	$	11,558
	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 Value		Losses			Fair Value			Losses			Fair Value		Losses
	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 one and four months ended April 30, 2014, the Company recognized losses totaling $1.5 million and $4.4 million, respectively, compared to $6.6 million and $12.5 million for the three and six months ended June 30, 2013, 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 condensed consolidated statements of operations.
	Securities available-for-sale sold at a loss typically included those that the Company determined to be other-than-temporarily impaired or had a deterioration in credit quality. The following table shows the net realized gains on the sales of securities available-for-sale (amounts in thousands):
		For the one		For the four			For the three			For the six
		month ended		months ended			months ended			months ended
		April 30, 2014		April 30, 2014			June 30, 2013			June 30, 2013
	Gross realized gains	$	2,516	$	2,516		$	679		$	2,829
	Gross realized losses	—		—			(6		)	(6		)
	Net realized gains	$	2,516	$	2,516		$	673		$	2,823
	Troubled Debt Restructurings
	As discussed above in Note 2 to these condensed 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 condensed consolidated financial statements. Accordingly, TDR disclosure pertains to the Predecessor Company. During the one month ended April 30, 2014, the Company did not modify any securities that qualified as a TDR. 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 condensed 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 three and six months ended June 30, 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 June 30, 2014, the Successor Company had a corporate debt security from one issuer in default with an estimated fair value of $13.2 million, which was on non-accrual status. As of December 31, 2013, the Predecessor 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
	The Company’s corporate debt securities portfolio has certain credit risk concentrated in a limited number of issuers. As of June 30, 2014 under the Successor Company, approximately 68% 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 JC Penney Corp. Inc., LCI Helicopters Limited and Avaya Inc., which combined represented $162.1 million, or approximately 32% of the estimated fair value of the Company’s corporate debt securities. As of December 31, 2013 under the Predecessor Company, 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 7 to these condensed 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 June 30, 2014 and December 31, 2013 (amounts in thousands):
		Successor Company		Predecessor Company
		As of		As of
		June 30, 2014		December 31, 2013
	Pledged as collateral for collateralized loan obligation secured debt	$	329,385	$	324,830
	Total	$	329,385	$	324,830

CORPORATE_LOANS_AND_ALLOWANCE_

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES	6 Months Ended
	Jun. 30, 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 June 30, 2014 (amounts in thousands):
		June 30, 2014
		Par			Amortized Cost			Estimated
								Fair Value
	Corporate loans, at estimated fair value	$	6,499,112		$	6,267,679		$	6,293,540
	Total	$	6,499,112		$	6,267,679		$	6,293,540
	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 (losses) gains from corporate loans for the two months ended June 30, 2014 (amounts in thousands):
		Two months ended
		June 30, 2014
	Net realized losses	$	(4,716	)
	Net change in unrealized gains	25,861
	Net realized and unrealized gains	$	21,145
	Predecessor Company
	The following table summarizes the Company’s corporate loans as of December 31, 2013 (amounts in thousands):
		December 31, 2013
		Corporate			Corporate Loans			Corporate Loans, at			Total
		Loans Held			Held for Sale			Estimated Fair Value			Corporate Loans
		for Investment
	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		)
	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 were 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 condensed 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 condensed 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 one month and four months ended April 30, 2014 and three and six months ended June 30, 2013 (amounts in thousands):
		For the one			For the four			For the three			For the six
		month ended			months ended			months ended			months ended
		April 30, 2014			April 30, 2014			June 30, 2013			June 30, 2013
	Allowance for loan losses:
	Beginning balance	$	223,541		$	224,999		$	206,227		$	223,472
	Provision for loan losses	—			—			—			11,068
	Charge-offs	—			(1,458		)	(2,972		)	(31,285		)
	Ending balance	$	223,541		$	223,541		$	203,255		$	203,255
	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 Texas Competitive Electric Holdings Company LLC (“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 $1.0 million and $4.5 million of interest income related to impaired loans with a related allowance recorded for the one and four months ended April 30, 2014, respectively. The following table summarizes the Company’s average recorded investment in impaired loans and interest income recognized for the three and six months ended June 30, 2013 (amounts in thousands):
	For the three months ended						For the six months ended
	June 30, 2013						June 30, 2013
	Average			Interest			Average			Interest
	Recorded			Income			Recorded			Income
	Investment(1)			Recognized			Investment(1)			Recognized
With no related allowance recorded	$	—		$	—		$	2,163		$	—
With an allowance recorded	538,344			5,995			505,212			10,269
Total	$	538,344		$	5,995		$	507,375		$	10,269
(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 one month 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 $1.1 million, which included $1.0 million for non-accrual loans that were held for investment and $0.1 million for non-accrual loans held for sale. 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, for the three months ended June 30, 2013, 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 $7.4 million, which included $6.0 million for non-accrual loans that were held for investment and $1.4 million for non-accrual loans held for sale. For the six months ended June 30, 2013, 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 $15.4 million, which included $10.3 million for non-accrual loans that were held for investment and $5.1 million for non-accrual loans held for sale.
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 June 30, 2014, the Company held a total par value and estimated fair value of $505.2 million and $373.3 million, respectively, of non-accrual loans carried at estimated fair value. As of June 30, 2014, the Company held a total par value and estimated fair value of $48.0 million and $31.6 million, respectively, of past due loans carried at estimated fair value from one issuer, all of which were on non-accrual status and in default as of June 30, 2014. The associated interest payments related to the $31.6 million loans at estimated fair value that were 90 or more days past due was $1.1 million.
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 condensed 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 one and four months ended April 30, 2014, the Company recorded charge-offs totaling zero and $1.5 million comprised primarily of loans modified in TDRs. During the three and six months ended June 30, 2013, the Company recorded charge-offs totaling $3.0 million comprised of loans transferred to loans held for sale and $31.3 million comprised primarily of loans modified in TDRs, respectively.
Loans Held For Sale and the Lower of Cost or Fair Value Adjustment
As discussed above in Note 2 to these condensed 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 one and four months ended April 30, 2014, the Company transferred $110.7 million and $348.8 million amortized cost amount of loans from held for investment to held for sale, respectively. During the three and six months ended June 30, 2013, the Company transferred $55.4 million and $76.8 million amortized cost amount, respectively, 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 one and four months ended April 30, 2014 and the three and six months ended June 30, 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 $3.3 million net charge to earnings for the lower of cost or estimated fair value adjustment for the one month ended April 30, 2014 and 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 $3.9 million and $8.7 million net charge to earnings for the three and six months ended June 30, 2013, respectively, for the lower of cost or estimated fair value adjustment for certain loans held for sale, which had a carrying value of $117.5 million as of June 30, 2013.
Troubled Debt Restructurings
As discussed above in Note 2 to these condensed 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 had been modified in a TDR during the one and four months ended April 30, 2014 (dollar amounts in thousands):
	One month ended								Four months ended
	April 30, 2014								April 30, 2014
	Number		Pre-modification			Post-modification			Number		Pre-modification		Post-modification
	of TDRs		outstanding			outstanding recorded			of TDRs		outstanding		outstanding recorded
			recorded			investment(1)					recorded		investment(1)(2)
			investment(1)								investment(1)
Troubled debt restructurings:
Loans held for investment	—		$	—		$	—		1		$	154,075	$	—
Loans at estimated fair value	—		—			—			2		41,347		24,571
Total			$	—		$	—				$	195,422	$	24,571
(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.
The following table presents the aggregate balance of loans whose terms had been modified in a TDR during the three and six months ended June 30, 2013 (dollar amounts in thousands):
	Three months ended								Six months ended
	June 30, 2013								June 30, 2013
	Number		Pre-modification			Post-modification			Number		Pre-modification		Post-modification
	of TDRs		outstanding			outstanding recorded			of TDRs		outstanding		outstanding recorded
			recorded			investment(1)					recorded		investment(1)(2)
			investment(1)								investment(1)
Troubled debt restructurings:
Loans held for investment	—		$	—		$	—		2		$	68,358	$	39,430
Loans held for sale	—		—			—			—		—		—
Loans at estimated fair value	—		—			—			1		1,670		1,229
Total			$	—		$	—				$	70,028	$	40,659
(1)                 Recorded investment is defined as amortized cost plus accrued interest.
(2)                 Excludes equity securities received from the loans held for investment TDRs with an estimated fair value of $2.1 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 six months ended June 30, 2013, the Company modified an aggregate recorded investment of $70.0 million related to three issuers in restructurings which qualified as TDRs. These restructurings 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, or 86% of the total $31.3 million of charge-offs recorded during the six months ended June 30, 2013.
As of April 30, 2014, there were no commitments to lend additional funds to the issuers whose loans had been modified in a TDR.
As of April 30, 2014, no loans modified as TDRs were in default within a twelve month period subsequent to their original restructuring.
During the one and four months ended April 30, 2014, the Company modified $135.2 million and $1.1 billion amortized cost of corporate loans, respectively, that did not qualify as TDRs. During the three and six months ended June 30, 2013, the Company modified $773.5 million and $1.8 billion amortized cost of corporate loans, respectively, 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 June 30, 2014, the Successor Company held four corporate loans that were in default with a total estimated fair value of $329.0 million from two issuers. As of December 31, 2013, the Predecessor 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 June 30, 2014 under the Successor Company where all corporate loans are carried at estimated fair value, approximately 42% 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 TXU, U.S. Foods Inc. and First Data Corp., which combined represented $768.7 million or approximately 12% of the aggregate estimated fair value of the Company’s corporate loans. As of December 31, 2013 under the Predecessor Company, 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 7 to these condensed 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 June 30, 2014 and December 31, 2013 (amounts in thousands):
	Successor Company			Predecessor Company
	As of			As of
	June 30, 2014			December 31, 2013
	Estimated Fair Value			Amortized Cost
Pledged as collateral for collateralized loan obligation secured debt	$	5,975,146		$	6,231,541
Total	$	5,975,146		$	6,231,541

NATURAL_RESOURCES_ASSETS

NATURAL RESOURCES ASSETS	6 Months Ended
	Jun. 30, 2014
NATURAL RESOURCES ASSETS	'
NATURAL RESOURCES ASSETS	'
	NOTE 6. NATURAL RESOURCES ASSETS
	Natural Resources Properties
	As described in Note 2, 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 DD&A. The following table summarizes the Company’s oil and gas properties as of June 30, 2014 and December 31, 2013 (amounts in thousands):
		As of			As of
		June 30, 2014			December 31, 2013
	Proved oil and natural gas properties (successful efforts method)	$	519,823		$	451,909
	Unproved oil and natural gas properties	16,913			16,913
	Less: Accumulated depreciation, depletion and amortization	(11,058		)	(68,453		)
	Oil and gas properties, net	$	525,678		$	400,369
	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 six months ended June 30, 2014 and year ended December 31, 2013, the Company capitalized an additional $85.0 million and $154.5 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 are included in oil and gas properties, net on the condensed consolidated balance sheets.

BORROWINGS

BORROWINGS	6 Months Ended
	Jun. 30, 2014
BORROWINGS	'
BORROWINGS	'
	NOTE 7. BORROWINGS
	As described in Note 2, 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, 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 condensed 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 June 30, 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	$	219,088	$	217,470		1.67	%	1,031	$	258,161
	CLO 2005-2 senior secured notes	274,945		273,017			0.65		1,245	433,092
	CLO 2006-1 senior secured notes	248,930		247,081			1.04		1,517	507,929
	CLO 2007-1 senior secured notes	2,069,459		2,047,353			0.78		2,511	2,495,371
	CLO 2007-1 mezzanine notes	489,723		484,087			3.83		2,511	590,513
	CLO 2007-1 subordinated notes(3)	134,468		131,926			14.5		2,511	162,142
	CLO 2007-A senior secured notes	350,592		350,423			2.03		1,203	129,018
	CLO 2007-A mezzanine notes	143,600		143,620			7.41		1,203	52,845
	CLO 2007-A subordinated notes(3)	15,096		37,538			20.69		1,203	5,555
	CLO 2011-1 senior debt	451,871		451,871			1.58		1,507	549,617
	CLO 2012-1 senior secured notes	367,500		366,217			2.32		3,821	370,670
	CLO 2012-1 subordinated notes(3)	18,000		15,059			16.27		3,821	18,155
	CLO 2013-1 senior secured notes	458,500		447,273			1.96		4,033	468,808
	CLO 2013-2 senior secured notes	339,250		334,979			2.21		4,225	350,750
	Total collateralized loan obligation secured debt	5,581,022		5,547,914						6,392,626
	2015 Asset-based borrowing facility	55,689		55,689			2.4		493	172,594
	2018 Asset-based borrowing facility	27,600		27,600			1.9		1,338	284,833
	Total credit facilities	83,289		83,289						457,427
	8.375% Senior notes	258,750		291,458			8.38		10,000	—
	7.500% Senior notes	115,043		123,820			7.5		10,125	—
	Junior subordinated notes	283,517		246,062			5.39		8,133	—
	Total borrowings	$	6,321,621	$	6,292,543					$	6,850,053
	(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. 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 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 were calculated based on annualized distributions during the quarter, 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		7.5		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 June 30, 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 two months ended June 30, 2014, $196.9 million of original CLO 2005-2, CLO 2006-1 and CLO 2007-1 senior notes were repaid. During the one and four months ended April 30, 2014, $128.2 million and $182.6 million, respectively, of original CLO 2007-A, CLO 2005-1, CLO 2005-2 and CLO 2006-1 senior notes were repaid. Comparatively, during the three and six months ended June 30, 2013, an aggregate $360.2 million and $506.3 million, respectively, 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 and CLO 2013-2 will end their reinvestment periods during December 2016, July 2017 and January 2018, respectively. 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 two months ended June 30, 2014, zero original CLO 2011-1 senior notes were repaid, while during both the one and four months ended April 30, 2014, $39.4 million of original CLO 2011-1 senior notes were repaid. Comparatively, during the three and six months ended June 30, 2013, $24.0 million and $45.5 million, respectively, of original CLO 2011-1 senior notes were repaid.
During the two months ended June 30, 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 one month ended April 30, 2014, the Company issued $61.1 million par amount of CLO 2007-A class D and E notes for proceeds of $61.3 million. In addition, during the same period, the Company issued $72.0 million par amount of CLO 2005-1 class D through F notes for proceeds of $71.5 million.
During the first quarter of 2014, the Company issued $21.9 million par amount of CLO 2007-1 class E notes for proceeds of $21.9 million. In addition, during the first quarter of 2014, the Company issued $29.8 million par amount of CLO 2007-A class G notes for proceeds of $30.2 million and $29.8 million par amount of CLO 2007-A class H notes for proceeds of $30.1 million.
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.
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 has the right to prepay loans under the 2015 Facility in whole or in part at any time. Loans under the 2015 Facility bear 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, which is subject to, among other things, the terms of a borrowing base derived from the value of eligible specified oil and gas assets. The borrowing base is subject to certain caps and concentration limits customary for financings of this type. The Company has 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 bear 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 contains customary covenants applicable to the Company. As of June 30, 2014 and December 31, 2013, the Company had $55.7 million and $50.3 million, respectively, of borrowings outstanding under the 2015 Natural Resources Facility.
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 is 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 has 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 bear 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 contains customary covenants applicable to the Company. As of June 30, 2014 and December 31, 2013, the Company had $27.6 million and zero, respectively, of borrowings outstanding under the 2018 Natural Resources Facility. On July 1, 2014, the 2018 Natural Resources Facility was terminated, with all amounts outstanding repaid as of July 1, 2014.
As of both June 30, 2014 and December 31, 2013, the Company believes 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.

DERIVATIVE_INSTRUMENTS

DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 2014
DERIVATIVE INSTRUMENTS	'
DERIVATIVE INSTRUMENTS	'
	NOTE 8. 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 June 30, 2014 and December 31, 2013 (amounts in thousands):
		As of						As of
		June 30, 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	458,833			(48,517		)	—			—
	Commodity swaps	—			(7,714		)	—			1,493
	Credit default swaps—protection purchased	—			—			(100,000		)	(2,019		)
	Foreign exchange forward contracts	(300,370		)	(23,273		)	(320,380		)	(25,258		)
	Foreign exchange options	129,900			7,056			129,900			8,941
	Common stock warrants	—			1,077			—			945
	Total rate of return swaps	—			(158		)	—			(229		)
	Options	—			6,175			—			6,794
	Total				$	(65,354	)				$	(51,411	)
	Cash Flow Hedges
	Interest Rate Swaps
	As described above in Note 2 to these condensed 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 condensed 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 (losses) gains recognized in other comprehensive loss related to derivatives in cash flow hedging relationships for the one and four months ended April 30, 2014 and three and six months ended June 30, 2013 (amounts in thousands):
		For the one			For the four			For the three			For the six
		month ended			months ended			months ended			months ended
		April 30, 2014			April 30, 2014			June 30, 2013			June 30, 2013
	Net (losses) gains recognized in accumulated other comprehensive loss on cash flow hedges	$	(1,611	)	$	(5,442	)	$	20,240		$	31,398
	For all hedges where hedge accounting was being applied, effectiveness testing and other procedures to ensure the ongoing validity of the hedges were performed at least quarterly. During the one and four months ended April 30, 2014 and three and six months ended June 30, 2013, the Company did not recognize any ineffectiveness in income on the condensed consolidated statements of operations from its cash flow hedges.
	As of June 30, 2014, the Successor Company had interest rate swaps with a notional amount of $458.8 million, which were classified as a free-standing derivatives, rather than cash flow hedges. Gains and losses on free-standing derivatives are reported in net realized and unrealized (loss) gain on derivatives and foreign exchange in the condensed consolidated statements of operations. Unrealized gains (losses) represent the change in fair value of the derivative instruments and are noncash items.
	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 (loss) gain on derivatives and foreign exchange in the condensed consolidated statements of operations. Unrealized gains (losses) represent the change in fair value of the derivative instruments and are noncash items.
	Commodity Derivatives
	In an effort to minimize the effects of the volatility of oil, natural gas and NGL prices, the Company will from time to time enter into derivative instruments such as swap contracts to hedge its forecasted commodities sales. The Company does not designate these contracts as cash flow hedges and as such, the changes in the estimated fair value of these instruments are recorded in current period earnings.
	The following table summarizes open positions as of June 30, 2014, and represents, as of such date, derivatives in place through December 31, 2016, on expected annual production volumes:
		2014			2015			2016
	Natural gas positions:
	Fixed price swaps:
	Hedged volume (MMMBtu)	2,919			4,277			1,805
	Average price ($/MMBtu)	$	4.34		$	4.73		$	4.44
	Natural gas liquid positions:
	Fixed price swaps:
	Hedged volume (MBbls)	80			41			—
	Average price ($/Bbl)	$	31.54		$	42.39		$	—
	Oil positions:
	Fixed price swaps:
	Hedged volume (MBbls)	417			612			—
	Average price ($/Bbl)	$	92.08		$	89.19		$	—
	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 June 30, 2014 and December 31, 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 June 30, 2014 and December 31, 2013, the net contractual notional balance of our foreign exchange options and forward contract liabilities totaled $170.5 million and $190.5 million, respectively, all 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 (loss) gain on derivatives and foreign exchange on the condensed consolidated statements of operations for the two months ended June 30, 2014 and for the one and four months ended April 30, 2014 (amounts in thousands):
		Successor Company										Predecessor Company
		Two months ended June 30, 2014										One month ended April 30, 2014									Four months ended April 30, 2014
		Realized			Unrealized			Total				Realized			Unrealized			Total			Realized			Unrealized			Total
		gains			gains							gains			gains						gains			gains
		(losses)			(losses)							(losses)			(losses)						(losses)			(losses)
	Interest rate swaps	$	—		$	(1,125	)	$	(1,125	)		$	—		$	—		$	—		$	—		$	—		$	—
	Commodity swaps	(1,532		)	(3,350		)	(4,882		)		(601		)	(2,189		)	(2,790		)	(2,515		)	(5,856		)	(8,371		)
Credit default swaps(1)	—			—			—				—			—			—			(2,167		)	1,986			(181		)
Foreign exchange forward contracts and options(2)	(1,640		)	(958		)	(2,598		)		(1,618		)	2,716			1,098			(2,068		)	2,784			716
Common stock warrants	—			(5		)	(5		)		—			123			123			—			137			137
Total rate of return swaps	169			(213		)	(44		)		(406		)	170			(236		)	(2,349		)	284			(2,065		)
Options	—			(510		)	(510		)		—			392			392			—			(19		)	(19		)
Net realized and unrealized (losses) gains	$	(3,003	)	$	(6,161	)	$	(9,164	)		$	(2,625	)	$	1,212		$	(1,413	)	$	(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 tables present the amounts recorded in net realized and unrealized (loss) gain on derivatives and foreign exchange on the condensed consolidated statements of operations for three and six months ended June 30, 2013 (amounts in thousands):
	Predecessor Company
	Three months ended June 30, 2013									Six months ended June 30, 2013
	Realized gains			Unrealized gains			Total			Realized gains			Unrealized gains			Total
	(losses)			(losses)						(losses)			(losses)
Commodity swaps	$	(22	)	$	7,028		$	7,006		$	1,087		$	919		$	2,006
Credit default swaps(1)	(518		)	49			(469		)	(3,161		)	1,519			(1,642		)
Foreign exchange forward contracts and options(2)	3,177			(4,451		)	(1,274		)	2,266			(6,371		)	(4,105		)
Net realized and realized gains (losses)	$	2,637		$	2,626		$	5,263		$	192		$	(3,933	)	$	(3,741	)
(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 condensed consolidated balance sheets.

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2014
FAIR VALUE OF FINANCIAL INSTRUMENTS	'
FAIR VALUE OF FINANCIAL INSTRUMENTS	'
	NOTE 9. FAIR VALUE OF FINANCIAL INSTRUMENTS
	Financial Instruments Not Carried at Estimated Fair Value
	As described above in Note 2 to these condensed 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 June 30, 2014 (amounts in thousands):
		Successor Company
		As of June 30, 2014						Fair Value Hierarchy
		Carrying			Estimated			Quoted Prices in			Significant Other			Significant
		Amount			Fair Value			Active Markets			Observable			Unobservable
								for Identical			Inputs (Level 2)			Inputs
								Assets (Level 1)						(Level 3)
	Assets:
	Cash, restricted cash, and cash equivalents	$	806,720		$	806,720		$	806,720		$	—		$	—
	Liabilities:
	Credit facilities	83,289			83,289			—			—			83,289
	Senior notes	415,278			418,413			418,413			—			—
	Junior subordinated notes	246,062			248,051			—			—			248,051
	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 December 31, 2013						Fair Value Hierarchy
		Carrying			Estimated			Quoted Prices in			Significant Other			Significant
		Amount			Fair Value			Active Markets			Observable			Unobservable
								for Identical			Inputs (Level 2)			Inputs
								Assets (Level 1)						(Level 3)
	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 condensed 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 June 30, 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 Inputs			June 30, 2014
		for Identical			Observable			(Level 3)
		Assets (Level 1)			Inputs (Level 2)
	Assets:
	Securities:
	Corporate debt securities	$	—		$	341,237		$	169,592		$	510,829
	Residential mortgage-backed securities	—			—			59,242			59,242
	Total securities	—			341,237			228,834			570,071
	Corporate loans	—			5,993,258			300,282			6,293,540
	Equity investments, at estimated fair value	21,322			116,021			141,160			278,503
	Interests in joint ventures and partnerships	—			12,430			515,556			527,986
	Other assets	—			5,424			—			5,424
	Derivatives:
	Interest rate swaps	—			841			—			841
	Commodity swaps	—			3,513			—			3,513
	Foreign exchange forward contracts	—			4,322			—			4,322
	Foreign exchange options	—			—			7,056			7,056
	Common stock warrants	—			1,077			—			1,077
	Total rate of return swaps	—			7			—			7
	Options	—			—			6,175			6,175
	Total derivatives	—			9,760			13,231			22,991
	Total	$	21,322		$	6,478,130		$	1,199,063		$	7,698,515
	Liabilities:
Collateralized loan obligation secured notes	$	—		$	—		$	5,547,914		$	5,547,914
Derivatives:
Interest rate swaps	—			49,358			—			49,358
Commodity swaps	—			11,227			—			11,227
Foreign exchange forward contracts	—			27,595			—			27,595
Total rate of return swaps	—			165			—			165
Total derivatives	—			88,345			—			88,345
Total	$	—		$	88,345		$	5,547,914		$	5,636,259
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 Inputs			December 31,
	for Identical			Observable			(Level 3)			2013
	Assets (Level 1)			Inputs (Level 2)
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 two months ended June 30, 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)	2,185			1,359			2,951			2,160			21,690			(1,798		)	(509		)	28,669
Transfers into Level 3	—			—			—			—			—			—			—			—
Transfers out of Level 3(2)	—			—			—			(1,230		)	—			—			—			—
Purchases	20,000			—			1,261			—			27,466			—			—			52,594
Sales	(3,966		)	—			(2,912		)	—			—			—			—			—
Settlements	(5,127		)	(1,740		)	4,764			(17,535		)	(6,067		)	—			—			(197,014		)
Ending balance as of June 30, 2014	$	169,592		$	59,242		$	300,282		$	141,160		$	515,556		$	7,056		$	6,175		$	5,547,914
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)	$	2,185		$	623		$	2,073		$	2,160		$	21,690		$	(1,798	)	$	(509	)	$	28,669
(1)                 Amounts are included in net realized and unrealized gain (loss) on investments or net realized and unrealized (loss) gain on derivatives and foreign exchange in the condensed 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 loss on debt in the condensed consolidated statements of operations.
(2)                 Equity investments, at estimated fair value were transferred out of Level 3 because observable market data became available.
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 one and 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 one month ended April 30, 2014 for assets held at the end of the reporting period(1)	$	44		$	479		$	1,503		$	1,240		$	12,126		$	(24,158	)	$	726		$	192
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 (loss) gain on derivatives and foreign exchange in the condensed 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.
Certain interests in joint ventures and partnerships were transferred from Level 1 to Level 2 during the two months ended June 30, 2014 due to illiquid market conditions. There were no transfers between Level 1 and Level 2 during the one and 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 three months ended June 30, 2013 (amounts in thousands):
	Predecessor Company
	Securities			Other			Residential			Corporate			Equity			Common			Foreign			Interests in
	Available-			Securities,			Mortgage-			Loans, at			Investments,			Stock			Exchange			Joint
	For-Sale			at Estimated			Backed			Estimated			at Estimated			Warrants			Options,			Ventures and
				Fair Value			Securities			Fair Value			Fair Value						Net			Partnerships
Beginning balance as of April 1, 2013	$	42,083		$	3,237		$	87,028		$	17,325		$	102,262		$	1,819		$	5,350		$	169,931
Total gains or losses (for the period):
Included in earnings(1)	99			944			(167		)	374			(1,426		)	1,742			401			(2,771		)
Included in other comprehensive income	131			—			—			—			—			—			—			—
Transfers into Level 3	—			—			—			—			—			—			—			—
Transfers out of Level 3	—			—			—			—			—			—			—			—
Purchases	—			23,691			—			28,695			3			—			—			74,851
Sales	—			—			—			—			—			—			—			—
Settlements	(4,933		)	—			(3,888		)	(458		)	(545		)	—			—			(6,987		)
Ending balance as of June 30, 2013	$	37,380		$	27,872		$	82,973		$	45,936		$	100,294		$	3,561		$	5,751		$	235,024
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)	$	99		$	944		$	3,810		$	374		$	(1,426	)	$	1,742		$	401		$	(2,771	)
(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 condensed consolidated statements of operations.
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 six months ended June 30, 2013 (amounts in thousands):
	Predecessor Company
	Securities			Other			Residential			Corporate			Equity			Common			Foreign			Interests in
	Available-			Securities,			Mortgage-			Loans, at			Investments,			Stock			Exchange			Joint
	For-Sale			at Estimated			Backed			Estimated			at Estimated			Warrants			Options,			Ventures and
				Fair Value			Securities			Fair Value			Fair Value						Net			Partnerships
Beginning balance as of January 1, 2013	$	42,221		$	2,909		$	83,842		$	16,141		$	97,746		$	1,574		$	8,277		$	142,477
Total gains or losses (for the period):
Included in earnings(1)	(18		)	1,272			5,554			(1,052		)	3,090			1,987			(2,526		)	3,908
Included in other comprehensive income	221			—			—			—			—			—			—			—
Transfers into Level 3	—			—			—			—			—			—			—			—
Transfers out of Level 3	—			—			—			—			—			—			—			—
Purchases	—			23,691			—			31,768			3			—			—			97,663
Sales	—			—			—			—			—			—			—			—
Settlements	(5,044		)	—			(6,423		)	(921		)	(545		)	—			—			(9,024		)
Ending balance as of June 30, 2013	$	37,380		$	27,872		$	82,973		$	45,936		$	100,294		$	3,561		$	5,751		$	235,024
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)	$	(18	)	$	1,272		$	15,898		$	(1,348	)	$	3,090		$	1,987		$	(2,526	)	$	3,908
(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 condensed consolidated statements of operations.
There were no transfers between Level 1 and Level 2 during the three and six months ended June 30, 2013.
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 June 30, 2014 (dollar amounts in thousands):
Successor Company
	Balance as of			Valuation		Unobservable		Weighted		Range		Impact to
	June 30,			Techniques(1)		Inputs(2)		Average(3)				Valuation
	2014											from an
												Increase in
												Input(4)
Assets:
Corporate debt securities	$	169,592		Yield analysis		Yield		12%		3% - 14%		Decrease
						Net leverage		12x		12x		Decrease
						EBITDA multiple		9x		8x - 10x		Increase
						Discount margin		900bps		900bps		Decrease
				Broker quotes		Offered quotes		103		102-106		Increase
Residential mortgage -backed	$	59,242		Discounted cash flows		Probability of default		6%		0% - 24%		Decrease
securities						Loss severity		26%		12% - 37%		Decrease
						Constant prepayment rate		13%		5% - 17%		-5
Corporate loans	$	300,282		Yield Analysis		Yield		10%		3% - 18%		Decrease
						Net leverage		6x		0x - 14x		Decrease
						EBITDA multiple		9x		5x - 13x		Increase
Equity investments, at estimated fair value(6)	$	141,160		Inputs to both market comparables and		Weight ascribed to market comparables		60%		33% - 100%		-7
				discounted cash flow		Weight ascribed to		55%		0% - 100%		-8
						discounted cash flows
				Market comparables		LTM EBITDA multiple		12x		5x - 23x		Increase
						Forward EBITDA multiple		10x		5x - 17x		Increase
				Discounted cash flows		Weighted average cost of capital		11%		8% - 18%		Decrease
						LTM EBITDA exit multiple		10x		7x - 11x		Increase
Interests in joint ventures and partnerships(9)	$	515,556		Inputs to both market comparables and		Weight ascribed to market comparables		53%		0% - 100%		-7
				discounted cash flow		Weight ascribed to		72%		0% - 100%		-8
						discounted cash flows
				Market comparables		Current capitalization rate		7%		6% - 10%		Decrease
						LTM EBITDA		11x		8x - 12x		Increase
						multiple
						Forward EBITDA multiple		9x		9x		Increase
				Discounted cash flows		Weighted average cost of capital		13%		8% - 20%		Decrease
Foreign exchange options	$	7,056		Option pricing model		Forward and spot rates		1		0 - 1		-10
Options	$	6,175		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		10x		10x		Increase
				Discounted cash flows		Weighted average cost of capital		13%		13%		Decrease
						LTM EBITDA exit multiple		11x		11x		Increase
Liabilities:
Collateralized loan obligation secured notes	$	5,547,914		Yield analysis		Discount margin		229bps		0bps - 1500bps		Decrease
				Discounted cash flows		Probability of default		2%		2% - 3%		Decrease
						Loss severity		33%		30% - 38%		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.
(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)                 Includes an asset that was valued using an independent third party valuation firm.
(10)             The directional change from an increase in forward and spot rates varies and is dependent on the specific option.
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):
Predecessor Company
	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
						Net leverage		12x		11x - 12x		Decrease
						EBITDA multiple		8x		8x - 9x		Increase
				Broker quotes		Offered quotes		105		104 - 105		Increase
Other securities, at estimated	$	107,530		Yield Analysis		Yield		12%		7% - 17%		Decrease
fair value						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	$	76,004		Discounted cash flows		Probability of default		7%		0% - 21%		Decrease
securities						Loss severity		28%		16% - 77%		Decrease
						Constant prepayment rate		15%		3% - 35%		-5
Corporate loans, at estimated	$	152,800		Yield Analysis		Yield		16%		14% - 23%		Decrease
fair value						Net leverage		7x		4x - 12x		Decrease
						EBITDA multiple		8x		6x - 11x		Increase
Equity investments, at estimated fair value(6)	$	138,059		Inputs to both market comparables and		Weight ascribed to market comparables		50%		33% - 100%		-7
				discounted cash flow		Weight ascribed to		59%		50% - 100%		-8
						discounted cash flows
				Market comparables		LTM EBITDA multiple		12x		6x - 16x		Increase
						Forward EBITA 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 market comparables and		Weight ascribed to market comparables		50%		50% - 100%		-7
				discounted cash flow		Weight ascribed to		50%		50% - 100%		-8
						discounted cash flows
				Market comparables		Current capitalization rate		7%		6% - 9%		Decrease
						LTM EBITDA multiple		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 market		Weight ascribed to market		50%		50%		-7
				comparables and		comparables
				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		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 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.
(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.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2014
COMMITMENTS AND CONTINGENCIES	'
COMMITMENTS AND CONTINGENCIES	'
	NOTE 10. COMMITMENTS AND 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 condensed consolidated financial statements, as of the Effective Date, the Company accounts for all corporate loans on trade date. As such, as of June 30, 2014, all corporate loans were included in the condensed 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 June 30, 2014 and December 31, 2013, the Company had unfunded financing commitments for corporate loans totaling $14.2 million and $17.4 million, respectively. The Company did not have any significant losses as of June 30, 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 $181.2 million as of June 30, 2014 and $325.5 million as of December 31, 2013.
	Guarantees
	As of June 30, 2014 and December 31, 2013, the Company had investments, held alongside KKR and its affiliates, in real estate entities that were financed with non-recourse debt totaling $331.5 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 both June 30, 2014 and December 31, 2013, the Company also had financial guarantees related to its natural resources investments totaling $17.9 million for which the Company does 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 have been 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 have been consolidated but an operative complaint has not been filed or designated.  The complaint filed in the California federal court action, which was never served on the defendants, was voluntarily dismissed on May 6, 2014.  Two of the Delaware actions were voluntarily dismissed, 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 July 29, 2014, the Delaware Court of Chancery heard oral arguments on defendants’ motion to dismiss.
	The complaints in these actions allege variously 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; failing to take steps to maximize the value to be paid to the KFN shareholders; and failing to disclose material information necessary for KFN shareholders to make a fully informed decision about the proposed transaction. The actions also allege 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 these actions includes, among other things, declaratory and injunctive relief concerning the alleged breaches of fiduciary duties and the proposed transaction, rescission, an accounting by defendants, damages and attorneys’ fees and costs.

SHAREHOLDERS_EQUITY

SHAREHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 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. 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, and no new awards are intended to be issued subsequent to the Effective Date.
	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.
	The following table summarizes the restricted common share transactions that occurred prior to the Merger Transaction:
		Predecessor Company
		Manager		Directors		Total
	Unvested shares as January 1, 2014	584,634		85,194		669,828
	Issued	—		—		—
	Vested	(243,648	)	—		(243,648	)
	Forfeited	—		—		—
	Unvested shares as of April 30, 2014	340,986		85,194		426,180
	The Company is 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 and $10.55 per share at April 30, 2014 and June 30, 2013, respectively. There were $2.2 million and $4.2 million of total unrecognized compensation costs related to unvested restricted common shares granted as of April 30, 2014 and June 30, 2013, respectively. These costs were expected to be recognized through 2016.
	The following table summarizes common share option transactions:
		Predecessor Company
		Number of		Weighted Average
		Options		Exercise Price
	Outstanding as of January 1, 2014	1,932,279		$	20
	Granted	—		—
	Exercised	—		—
	Forfeited	—		—
	Outstanding as of April 30, 2014	1,932,279		$	20
	As of April 30, 2014 and June 30, 2013, 1,932,279 common share options were exercisable. As of April 30, 2014, the common share options were fully vested and expire in August 2014.
	For the one and four months ended April 30, 2014 and three and six months ended June 30, 2013, the components of share-based compensation expense are as follows (amounts in thousands):
		Predecessor Company
		For the one			For the four			For the three		For the six
		month ended			months ended			months ended		months ended
		April 30, 2014			April 30, 2014			June 30, 2013		June 30, 2013
	Restricted common shares granted to Manager	$	113		$	690		$	664	$	1,383
	Restricted common shares granted to certain directors	64			328			252		513
	Total share-based compensation expense	$	177		$	1,018		$	916	$	1,896

MANAGEMENT_AGREEMENT_AND_RELAT

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 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 to 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 condensed 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 condensed consolidated statements of operations, which are described in further detail below (amounts in thousands):
		Successor			Predecessor Company
		Company
		Two months ended			One month ended			Four months ended			Three months ended			Six months ended
		June 30, 2014			April 30, 2014			April 30, 2014			June 30, 2013			June 30, 2013
	Base management fees, net	$	5,941		$	1,631		$	5,253		$	9,629		$	19,186
	CLO management fees	4,465			2,480			11,016			1,664			2,513
	Incentive fees	—			—			12,882			5,561			22,742
	Manager share-based compensation	—			113			690			664			1,383
	Total related party management compensation	$	10,406		$	4,224		$	29,841		$	17,518		$	45,824
	Base Management Fees
	The Company pays its Manager a base management fee quarterly in arrears. During 2014, 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 the second half of 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
		Two months ended			One month ended			Four months ended			Three months ended			Six months ended
		June 30, 2014			April 30, 2014			April 30, 2014			June 30, 2013			June 30, 2013
	Base management fees, gross	$	6,688		$	3,372		$	13,364		$	9,860		$	19,417
	CLO management fees credit(1)	(747		)	(1,741		)	(8,111		)	(231		)	(231		)
	Total base management fees, net	$	5,941		$	1,631		$	5,253		$	9,629		$	19,186
	(1)     See “CLO Management Fees” for further discussion.
	The Manager is waiving 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 is $20.00 or more for five consecutive trading days. Accordingly, the Manager permanently waived approximately $1.5 million during the two months ended June 30, 2014, $0.7 million and $2.9 million during the one and four months ended April 30, 2014, respectively, and $2.2 million and $4.4 million of base management fees during the three and six months ended June 30, 2013, respectively.
	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 $1.6 million for CLO 2005-2 and CLO 2006-1 during the two months ended June 30, 2014 and zero and $1.6 million during the one and four months ended April 30, 2014, respectively. During the three and six months ended June 30, 2013, the collateral manager waived CLO management fees totaling $7.3 million and $15.0 million, respectively, for all CLOs, except 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 2014. The Company recorded management fees expense for CLO 2005-1 and CLO 2012-1 during 2013.
	During the second half of 2013, the Manager began to credit 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 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
		Two months ended			One month ended			Four months ended			Three months ended			Six months ended
		June 30, 2014			April 30, 2014			April 30, 2014			June 30, 2013			June 30, 2013
	Charged and retained CLO management fees (1)	$	3,718		$	739		$	2,905		$	1,433		$	2,282
	CLO management fees credit	747			1,741			8,111			231			231
	Total CLO management fees	$	4,465		$	2,480		$	11,016		$	1,664		$	2,513
	(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 condensed 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 two months ended June 30, 2014 and zero and $12.9 million for the one and four months ended April 30, 2014, respectively. During the three and six months ended June 30, 2013, the Manager earned $5.6 million and $22.7 million, respectively, of incentive fees.
	Manager Share-Based Compensation
	The Company recognized share-based compensation expense related to restricted common shares granted to the Manager of $0.1 million and $0.7 million for the one and four months ended April 30, 2014, respectively. In addition, the Company recognized share-based compensation expense related to restricted common shares granted to the Manager of $0.7 million and $1.4 million for the three and six months ended June 30, 2013, respectively. Refer to Note 11 to these condensed 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 $1.4 million for the two months ended June 30, 2014 and $0.9 million and $2.8 million for the one and four months ended April 30, 2014, respectively. During the three and six months ended June 30, 2013, the Company incurred reimbursable general and administrative expenses to its Manager of $1.9 million and $3.6 million, respectively. Expenses incurred by the Manager and reimbursed by the Company are reflected in general, administrative and directors expenses on the condensed consolidated statements of operations.
	Affiliated Investments
	The Company has invested in corporate loans, debt securities and other investments of entities that are affiliates of KKR. As of June 30, 2014, the aggregate par amount of these affiliated investments totaled $1.8 billion, or approximately 25% of the total investment portfolio, and consisted of 26 issuers. The total $1.8 billion in affiliated investments was comprised of $1.7 billion of corporate loans, $9.5 million of corporate debt securities and $118.9 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 June 30, 2014, the estimated fair value of these interests in joint ventures and partnerships totaled $528.0 million. As of December 31, 2013, the aggregate cost amount of these interests in joint ventures and partnerships totaled $400.3 million.

SEGMENT_REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2014
SEGMENT REPORTING	'
SEGMENT REPORTING	'
	NOTE 13. 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 segments (“Other”).
	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. 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 condensed consolidated financial statements for the two months ended June 30, 2014 (amounts in thousands):
		Successor Company
		Credit			Natural Resources			Other			Reconciling Items(1)			Total Consolidated
		Two months ended			Two months ended			Two months ended			Two months ended			Two months ended
		June 30, 2014			June 30, 2014			June 30, 2014			June 30, 2014			June 30, 2014
	Total revenues	$	62,311		$	31,930		$	72		$	—		$	94,313
	Total investment costs and expenses	35,410			20,057			197			—			55,664
	Total other income (loss)	17,113			(4,880		)	8,654			—			20,887
	Total other expenses	12,753			1,393			183			35			14,364
	Income tax expense	24			—			4			—			28
	Net income (loss)	$	31,237		$	5,600		$	8,342		$	(35	)	$	45,144
	(1)     Consists of 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 condensed consolidated financial statements for the one and four months ended April 30, 2014 (amounts in thousands):
		Predecessor Company
		Credit						Natural Resources						Other						Reconciling Items(1)						Total Consolidated
		One			Four			One			Four			One			Four			One			Four			One			Four
		month			months			month			months			month			months			month			months			month			months
		ended			ended			ended			ended			ended			ended			ended			ended			ended			ended
		April 30,			April 30,			April 30,			April 30,			April 30,			April 30,			April 30,			April 30,			April 30,			April 30,
		2014			2014			2014			2014			2014			2014			2014			2014			2014			2014
	Total revenues	$	37,693		$	134,255		$	17,754		$	61,782		$	21,205		$	21,205		$	—		$	—		$	76,652		$	217,242
	Total investment costs and expenses	16,612			62,485			11,339			38,915			104			425			—			—			28,055			101,825
	Total other income (loss)	11,530			76,046			(2,734		)	(8,123		)	(25,302		)	(11,589		)	—			—			(16,506		)	56,334
	Total other expenses	7,286			23,121			479			1,633			90			230			26,296			40,625			34,151			65,609
	Income tax expense	127			146			—			—			16			16			—			—			143			162
	Net income (loss)	$	25,198		$	124,549		$	3,202		$	13,111		$	(4,307	)	$	8,945		$	(26,296	)	$	(40,625	)	$	(2,203	)	$	105,980
	(1)       Consists of certain expenses not allocated to individual segments including other expenses comprised of (i) incentive fees of zero and $12.9 million for the one and four months ended April 30, 2014, respectively and (ii) merger related transaction costs of $22.7 million for both the one and 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 condensed consolidated financial statements for the three and six months ended June 30, 2013 (amounts in thousands):
		Predecessor Company
		Credit						Natural Resources						Other						Reconciling Items(1)						Total Consolidated
		Three			Six			Three			Six			Three			Six			Three			Six			Three			Six
		months			months			months			months			months			months			months			months			months			months
		ended			ended			ended			ended			ended			ended			ended			ended			ended			ended
		June 30,			June 30,			June 30,			June 30,			June 30,			June 30,			June 30,			June 30,			June 30,			June 30,
		2013			2013			2013			2013			2013			2013			2013			2013			2013			2013
	Total revenues	$	109,377		$	224,526		$	27,867		$	51,672		$	—		$	1,496		$	—		$	—		$	137,244		$	277,694
	Total investment costs and expenses	45,445			106,844			19,500			38,969			248			429			—			—			65,193			146,242
	Total other income (loss)	31,958			125,884			7,265			2,519			(1,988		)	3,321			—			(20,269		)	37,235			111,455
	Total other expenses	15,028			28,996			799			2,429			244			368			7,125			26,230			23,196			58,023
	Income tax (benefit) expense	(46		)	411			—			—			4			5			—			—			(42		)	416
	Net income (loss)	$	80,908		$	214,159		$	14,833		$	12,793		$	(2,484	)	$	4,015		$	(7,125	)	$	(46,499	)	$	86,132		$	184,468
	(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 zero and $20.3 million for the three and six months ended June 30, 2013, respectively, and (ii) other expenses comprised of incentive fees of $5.6 million and $22.7 million for the three and six months ended June 30, 2013, 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 condensed consolidated financial statements as of June 30, 2014 and December 31, 2013 (amounts in thousands):
		Credit						Natural Resources						Other						Reconciling						Total Consolidated
																				Items
	As of	June 30,			December 31,			June 30,			December 31,			June 30,			December 31,			June 30,			December 31,			June 30,			December 31,
		2014			2013			2014			2013			2014			2013			2014			2013			2014			2013
	Total assets	$	8,547,333		$	8,020,353		$	632,527		$	505,029		$	208,372		$	190,946		$	194		$	870		$	9,388,426		$	8,717,198

EARNINGS_PER_COMMON_SHARE

EARNINGS PER COMMON SHARE	6 Months Ended
	Jun. 30, 2014
EARNINGS PER COMMON SHARE	'
EARNINGS PER COMMON SHARE	'
	NOTE 14. EARNINGS PER COMMON SHARE
	Earnings per common share is not provided for the two months ended June 30, 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 (loss) income per common share for the Predecessor Company (amounts in thousands, except per share information):
		Predecessor Company
		One month			Four months		Three months		Six months
		ended			ended		ended		ended
		April 30, 2014			April 30, 2014		June 30, 2013		June 30, 2013
	Net (loss) income	$	(2,203	)	$	105,980	$	86,132	$	184,468
	Less: Preferred share distributions	—			6,891		6,891		13,629
	Net (loss) income available to common shareholders	$	(2,203	)	$	99,089	$	79,241	$	170,839
	Less: Dividends and undistributed (loss) earnings allocated to participating securities	(5		)	292		262		591
	Net (loss) income allocated to common shareholders	$	(2,198	)	$	98,797	$	78,979	$	170,248
	Basic:
	Basic weighted average common shares outstanding	204,398			204,276		204,108		200,650
	Net (loss) income per common share	$	(0.01	)	$	0.48	$	0.39	$	0.85
	Diluted:
	Diluted weighted average common shares outstanding(1)	204,398			204,276		204,108		200,650
	Net (loss) income per common share	$	(0.01	)	$	0.48	$	0.39	$	0.85
	(1)     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	6 Months Ended
	Jun. 30, 2014
ACCUMULATED OTHER COMPREHENSIVE LOSS	'
ACCUMULATED OTHER COMPREHENSIVE LOSS	'
	NOTE 15. ACCUMULATED OTHER COMPREHENSIVE LOSS
	In connection with the Merger Transaction, accumulated other comprehensive loss is not provided for the two months ended June 30, 2014, as changes in the estimated fair value of all securities and cash flow hedges are recorded in the condensed consolidated statements of operations, within net realized and unrealized gain (loss) on investments and net realized and unrealized (loss) gain 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
		One month ended April 30, 2014 (1)									Four months ended April 30, 2014 (1)
		Net unrealized			Net unrealized			Total			Net unrealized			Net unrealized			Total
		gains on			losses on cash						gains on			losses on cash
		available-for-sale			flow hedges						available-for-sale			flow hedges
		securities									securities
	Beginning balance	$	21,678		$	(43,050	)	$	(21,372	)	$	23,567		$	(39,219	)	$	(15,652	)
	Other comprehensive loss before reclassifications	(2,311		)	(1,611		)	(3,922		)	(2,614		)	(5,442		)	(8,056		)
	Amounts reclassified from accumulated other comprehensive loss(2)	(1,053		)	—			(1,053		)	(2,639		)	—			(2,639		)
	Net current-period other comprehensive loss	(3,364		)	(1,611		)	(4,975		)	(5,253		)	(5,442		)	(10,695		)
	Ending balance	$	18,314		$	(44,661	)	$	(26,347	)	$	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 $1.5 million and $4.4 million for investments which were determined to be other-than-temporary for the one and four months ended April 30, 2014, respectively. These reclassified amounts are included in net realized and unrealized gain (loss) on investments on the condensed consolidated statements of operations.
		Predecessor Company
		Three months ended									Six months ended
		June 30, 2013(1)									June 30, 2013(1)
		Net unrealized			Net unrealized			Total			Net unrealized			Net unrealized			Total
		gains on			losses on cash						gains on			losses on cash
		available-for-sale			flow hedges						available-for-sale			flow hedges
		securities									securities
	Beginning balance	$	22,997		$	(76,540	)	$	(53,543	)	$	17,472		$	(87,698	)	$	(70,226	)
	Other comprehensive (loss) income before reclassifications	(12,121		)	20,240			8,119			(9,709		)	31,398			21,689
	Amounts reclassified from accumulated other comprehensive loss(2)	5,781			—			5,781			8,894			—			8,894
	Net current-period other comprehensive (loss) income	(6,340		)	20,240			13,900			(815		)	31,398			30,583
	Ending balance	$	16,657		$	(56,300	)	$	(39,643	)	$	16,657		$	(56,300	)	$	(39,643	)
	(1)     The Company’s gross and net of tax amounts are the same.
	(2)     Includes an impairment charge of $6.6 million and $12.5 million for investments which were determined to be other-than-temporary for the three and six months ended June 30, 2013, respectively. These reclassified amounts are included in net realized and unrealized gain on investments on the condensed consolidated statements of operations.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2014
SUBSEQUENT EVENTS	'
SUBSEQUENT EVENTS	'
	NOTE 16. SUBSEQUENT EVENTS
	On June 27, 2014, the Company’s board of directors declared a cash distribution of $0.460938 per share on its Series A LLC Preferred Shares. The distribution was paid on July 15, 2014 to preferred shareholders as of the close of business on July 8, 2014.
	On June 28, 2014, the Company signed an agreement to merge certain of the Company’s natural resources assets with certain assets of KKR Natural Resources Funds and Legend Production Holdings, LLC, a portfolio company of Riverstone Holdings LLC, to create a new oil and gas company called Trinity River Energy, LLC. This transaction is expected to close during the third quarter of 2014.
	On June 27, 2014 and July 31, 2014, the Company’s board of directors approved the distribution of certain of the Company’s private equity and natural resources assets and cash, with an aggregate value of $294.6 million, to the Parent as the sole holder of the Company’s common shares. These distributions will have been completed during the third quarter of 2014. The 2018 Natural Resources Facility, which was used to partially finance these natural resources assets, was terminated with all amounts outstanding repaid as of July 1, 2014.
	Also, on June 27, 2014 and July 31, 2014, the Company’s board of directors approved the receipt by the Company of contributions from the Parent of cash, CLO subordinated notes controlled by a third-party and specialty lending assets, with an aggregate value of $294.6 million. These contributions will have been completed during the third quarter of 2014.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2014
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
Basis of Presentation	'
	Basis of Presentation
	The accompanying condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). The condensed 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.
	As further described in Note 3 to these condensed 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 condensed 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 condensed consolidated financial statements. This change in accounting basis is represented in the condensed 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 condensed consolidated financial statements. Accordingly, the Company’s accumulated deficit at June 30, 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 condensed 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 loss on debt, respectively, in the condensed 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 condensed consolidated financial statements are appropriate, actual results could differ from those estimates.
	Estimates of oil, natural gas and natural gas liquid (“NGL”) reserves and their values, future production rates and future costs and expenses are inherently uncertain, including many factors beyond the Company’s control. Reservoir engineering is a subjective process of estimating underground accumulations of oil, natural gas and NGL that cannot be measured in an exact manner. The accuracy of any reserve estimate is a function of many factors including the following: the quality and quantity of available data, the interpretation of that data, the accuracy of various mandated economic assumptions and the judgments of the individuals preparing the estimates. In addition, reserve estimates are a function of many assumptions, all of which could deviate significantly from actual results. As such, reserve estimates may materially vary from the ultimate quantities of oil, natural gas and NGL eventually recovered, and could materially affect the Company’s future depreciation, depletion and amortization expense (“DD&A”), its asset retirement obligations or impairment considerations.
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”) and KKR Financial CLO 2013-2, Ltd. (“CLO 2013-2”) (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 June 30, 2014, the Company’s nine CLOs held $6.6 billion par amount, or $6.4 billion estimated fair value, of corporate debt investments. As of December 31, 2013, the Company had eight CLOs that 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 June 30, 2014 and December 31, 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.
	In addition, the Company has non-controlling 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 condensed 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 condensed 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 Investments, at Estimated Fair Value:  Equity investments, 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. Valuation models are generally based on market and income (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. 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.
	Interests in Joint Ventures and Partnerships:  Interests in joint ventures and partnerships include certain equity investments related to the oil and gas, commercial real estate and specialty lending sectors. Interests in joint ventures and partnerships 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. Valuation models are generally based on market and income (discounted cash flow) approaches, in which various internal and external factors are considered. Key inputs include the weighted average cost of capital and EBITDA multiples. In addition, an illiquidity discount is applied where appropriate.
	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 9 to these condensed 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
	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. The Company utilizes a valuation committee, whose members consist of the Company’s Chief Financial Officer, General Counsel and certain other employees of the Manager. The valuation committee is responsible for coordinating and implementing the Company’s quarterly 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. For assets classified as Level 3, the investment professionals are responsible for documenting preliminary valuations based on various factors including their evaluation of financial and operating data, company specific developments, market valuations of comparable companies and model projections discussed above. All 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 condensed consolidated statements of operations.
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 condensed consolidated statements of operations.
	On the condensed 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 condensed consolidated statements of operations. Comparatively, the Predecessor Company reported all unrealized gains and losses in accumulated other comprehensive loss on the condensed 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 condensed 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 condensed 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 condensed 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 non-controlling 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 condensed consolidated balance sheets.
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 condensed 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.
	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.
	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.
	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, 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 condensed 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 condensed 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
	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, are charged to expense as incurred. Costs that are associated with the drilling of successful exploration wells are capitalized if proved reserves are found. Lease acquisition costs are 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 are expensed as incurred.
	Expenditures for repairs and maintenance, including workovers, are charged to expense as incurred.
	The capitalized costs of producing oil and natural gas properties are 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 are used in computing depletion rates for drilling and development costs and total proved reserves are used for depletion rates of leasehold costs.
	Estimated dismantlement and abandonment costs for oil and natural gas properties, net of salvage value, are 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 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 are assessed periodically and, at a minimum, annually on a property-by-property basis, and any impairment in value is 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 finances 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 loss on debt in the condensed 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 condensed 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 condensed consolidated balance sheets.
Derivative Instruments	'
	Derivative Instruments
	The Company recognizes all derivatives on the condensed 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 loss on derivatives and foreign exchange on the condensed 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 (loss) gain on derivatives and foreign exchange on the condensed 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 loss on derivatives and foreign exchange on the condensed consolidated statements of operations.
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 common shares will be required to take into account their allocable share of each item of the Company’s income, gain, loss, deduction, and credit that is allocated to such class of shares for the taxable year of the Company ending within or with their taxable year. Holders of the Company’s 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 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 taxable income allocable to shareholders.
	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, 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 condensed 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.

MERGER_TRANSACTION_Tables

MERGER TRANSACTION (Tables)	6 Months Ended
	Jun. 30, 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 non-controlling 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)	6 Months Ended
	Jun. 30, 2014
Securities	'
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 June 30, 2014 and December 31, 2013 (amounts in thousands):
		Successor Company		Predecessor Company
		As of		As of
		June 30, 2014		December 31, 2013
	Pledged as collateral for collateralized loan obligation secured debt	$	329,385	$	324,830
	Total	$	329,385	$	324,830
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 June 30, 2014, which are carried at estimated fair value (amounts in thousands):
		June 30, 2014
		Par		Amortized Cost			Estimated
							Fair Value
	Securities, at estimated fair value	$	617,495	$	559,247		$	570,071
	Total	$	617,495	$	559,247		$	570,071
Schedule of realized and unrealized gains from securities	'
	The following table presents the Company’s realized and unrealized gains from securities for the two months ended June 30, 2014 (amounts in thousands):
		Two months ended
		June 30, 2014
	Net realized gains	$	735
	Net change in unrealized gains	10,823
	Net realized and unrealized gains	$	11,558
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 Value		Losses			Fair Value			Losses			Fair Value		Losses
	December 31, 2013
	Securities available-for-sale	$	25,543	$	(658	)	$	30,034		$	(567	)	$	55,577	$	(1,225	)
Schedule of net realized gains on the sales of available-for-sale securities	'
	The following table shows the net realized gains on the sales of securities available-for-sale (amounts in thousands):
		For the one		For the four			For the three			For the six
		month ended		months ended			months ended			months ended
		April 30, 2014		April 30, 2014			June 30, 2013			June 30, 2013
	Gross realized gains	$	2,516	$	2,516		$	679		$	2,829
	Gross realized losses	—		—			(6		)	(6		)
	Net realized gains	$	2,516	$	2,516		$	673		$	2,823

CORPORATE_LOANS_AND_ALLOWANCE_1

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	6 Months Ended
	Jun. 30, 2014
Summary of corporate loans	'
Schedule of corporate loans pledged as collateral	'
	The following table summarizes the corporate loans pledged as collateral as of June 30, 2014 and December 31, 2013 (amounts in thousands):
		Successor Company			Predecessor Company
		As of			As of
		June 30, 2014			December 31, 2013
		Estimated Fair Value			Amortized Cost
	Pledged as collateral for collateralized loan obligation secured debt	$	5,975,146		$	6,231,541
	Total	$	5,975,146		$	6,231,541
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 June 30, 2014 (amounts in thousands):
		June 30, 2014
		Par			Amortized Cost			Estimated
								Fair Value
	Corporate loans, at estimated fair value	$	6,499,112		$	6,267,679		$	6,293,540
	Total	$	6,499,112		$	6,267,679		$	6,293,540
Schedule of realized and unrealized (losses) gains from corporate loans	'
	The following tables present the Company’s realized and unrealized (losses) gains from corporate loans for the two months ended June 30, 2014 (amounts in thousands):
		Two months ended
		June 30, 2014
	Net realized losses	$	(4,716	)
	Net change in unrealized gains	25,861
	Net realized and unrealized gains	$	21,145
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 Loans			Corporate Loans, at			Total
		Loans Held			Held for Sale			Estimated Fair Value			Corporate Loans
		for Investment
	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		)
	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 were 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 one month and four months ended April 30, 2014 and three and six months ended June 30, 2013 (amounts in thousands):
		For the one			For the four			For the three			For the six
		month ended			months ended			months ended			months ended
		April 30, 2014			April 30, 2014			June 30, 2013			June 30, 2013
	Allowance for loan losses:
	Beginning balance	$	223,541		$	224,999		$	206,227		$	223,472
	Provision for loan losses	—			—			—			11,068
	Charge-offs	—			(1,458		)	(2,972		)	(31,285		)
	Ending balance	$	223,541		$	223,541		$	203,255		$	203,255
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 three and six months ended June 30, 2013 (amounts in thousands):
		For the three months ended						For the six months ended
		June 30, 2013						June 30, 2013
		Average			Interest			Average			Interest
		Recorded			Income			Recorded			Income
		Investment(1)			Recognized			Investment(1)			Recognized
	With no related allowance recorded	$	—		$	—		$	2,163		$	—
	With an allowance recorded	538,344			5,995			505,212			10,269
	Total	$	538,344		$	5,995		$	507,375		$	10,269
	(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 had been modified in a TDR during the one and four months ended April 30, 2014 (dollar amounts in thousands):
		One month ended								Four months ended
		April 30, 2014								April 30, 2014
		Number		Pre-modification			Post-modification			Number		Pre-modification		Post-modification
		of TDRs		outstanding			outstanding recorded			of TDRs		outstanding		outstanding recorded
				recorded			investment(1)					recorded		investment(1)(2)
				investment(1)								investment(1)
	Troubled debt restructurings:
	Loans held for investment	—		$	—		$	—		1		$	154,075	$	—
	Loans at estimated fair value	—		—			—			2		41,347		24,571
	Total			$	—		$	—				$	195,422	$	24,571
	(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.
	The following table presents the aggregate balance of loans whose terms had been modified in a TDR during the three and six months ended June 30, 2013 (dollar amounts in thousands):
		Three months ended								Six months ended
		June 30, 2013								June 30, 2013
		Number		Pre-modification			Post-modification			Number		Pre-modification		Post-modification
		of TDRs		outstanding			outstanding recorded			of TDRs		outstanding		outstanding recorded
				recorded			investment(1)					recorded		investment(1)(2)
				investment(1)								investment(1)
	Troubled debt restructurings:
	Loans held for investment	—		$	—		$	—		2		$	68,358	$	39,430
	Loans held for sale	—		—			—			—		—		—
	Loans at estimated fair value	—		—			—			1		1,670		1,229
	Total			$	—		$	—				$	70,028	$	40,659
	(1)                 Recorded investment is defined as amortized cost plus accrued interest.
	(2)                 Excludes equity securities received from the loans held for investment TDRs with an estimated fair value of $2.1 million.

NATURAL_RESOURCES_ASSETS_Table

NATURAL RESOURCES ASSETS (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2014 and December 31, 2013 (amounts in thousands):
		As of			As of
		June 30, 2014			December 31, 2013
	Proved oil and natural gas properties (successful efforts method)	$	519,823		$	451,909
	Unproved oil and natural gas properties	16,913			16,913
	Less: Accumulated depreciation, depletion and amortization	(11,058		)	(68,453		)
	Oil and gas properties, net	$	525,678		$	400,369

BORROWINGS_Tables

BORROWINGS (Tables)	6 Months Ended
	Jun. 30, 2014
Successor Company	'
Borrowings	'
Schedule of Company's borrowings	'
	Certain information with respect to the Company’s borrowings as of June 30, 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	$	219,088	$	217,470		1.67	%	1,031	$	258,161
	CLO 2005-2 senior secured notes	274,945		273,017			0.65		1,245	433,092
	CLO 2006-1 senior secured notes	248,930		247,081			1.04		1,517	507,929
	CLO 2007-1 senior secured notes	2,069,459		2,047,353			0.78		2,511	2,495,371
	CLO 2007-1 mezzanine notes	489,723		484,087			3.83		2,511	590,513
	CLO 2007-1 subordinated notes(3)	134,468		131,926			14.5		2,511	162,142
	CLO 2007-A senior secured notes	350,592		350,423			2.03		1,203	129,018
	CLO 2007-A mezzanine notes	143,600		143,620			7.41		1,203	52,845
	CLO 2007-A subordinated notes(3)	15,096		37,538			20.69		1,203	5,555
	CLO 2011-1 senior debt	451,871		451,871			1.58		1,507	549,617
	CLO 2012-1 senior secured notes	367,500		366,217			2.32		3,821	370,670
	CLO 2012-1 subordinated notes(3)	18,000		15,059			16.27		3,821	18,155
	CLO 2013-1 senior secured notes	458,500		447,273			1.96		4,033	468,808
	CLO 2013-2 senior secured notes	339,250		334,979			2.21		4,225	350,750
	Total collateralized loan obligation secured debt	5,581,022		5,547,914						6,392,626
	2015 Asset-based borrowing facility	55,689		55,689			2.4		493	172,594
	2018 Asset-based borrowing facility	27,600		27,600			1.9		1,338	284,833
	Total credit facilities	83,289		83,289						457,427
	8.375% Senior notes	258,750		291,458			8.38		10,000	—
	7.500% Senior notes	115,043		123,820			7.5		10,125	—
	Junior subordinated notes	283,517		246,062			5.39		8,133	—
	Total borrowings	$	6,321,621	$	6,292,543					$	6,850,053
	(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. 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 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 were calculated based on annualized distributions during the quarter, if any.
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		7.5		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)	6 Months Ended
	Jun. 30, 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 June 30, 2014 and December 31, 2013 (amounts in thousands):
		As of						As of
		June 30, 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	458,833			(48,517		)	—			—
	Commodity swaps	—			(7,714		)	—			1,493
	Credit default swaps—protection purchased	—			—			(100,000		)	(2,019		)
	Foreign exchange forward contracts	(300,370		)	(23,273		)	(320,380		)	(25,258		)
	Foreign exchange options	129,900			7,056			129,900			8,941
	Common stock warrants	—			1,077			—			945
	Total rate of return swaps	—			(158		)	—			(229		)
	Options	—			6,175			—			6,794
	Total				$	(65,354	)				$	(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 (loss) gain on derivatives and foreign exchange on the condensed consolidated statements of operations for the two months ended June 30, 2014 and for the one and four months ended April 30, 2014 (amounts in thousands):
		Successor Company										Predecessor Company
		Two months ended June 30, 2014										One month ended April 30, 2014									Four months ended April 30, 2014
		Realized			Unrealized			Total				Realized			Unrealized			Total			Realized			Unrealized			Total
		gains			gains							gains			gains						gains			gains
		(losses)			(losses)							(losses)			(losses)						(losses)			(losses)
	Interest rate swaps	$	—		$	(1,125	)	$	(1,125	)		$	—		$	—		$	—		$	—		$	—		$	—
	Commodity swaps	(1,532		)	(3,350		)	(4,882		)		(601		)	(2,189		)	(2,790		)	(2,515		)	(5,856		)	(8,371		)
	Credit default swaps(1)	—			—			—				—			—			—			(2,167		)	1,986			(181		)
	Foreign exchange forward contracts and options(2)	(1,640		)	(958		)	(2,598		)		(1,618		)	2,716			1,098			(2,068		)	2,784			716
	Common stock warrants	—			(5		)	(5		)		—			123			123			—			137			137
	Total rate of return swaps	169			(213		)	(44		)		(406		)	170			(236		)	(2,349		)	284			(2,065		)
	Options	—			(510		)	(510		)		—			392			392			—			(19		)	(19		)
	Net realized and unrealized (losses) gains	$	(3,003	)	$	(6,161	)	$	(9,164	)		$	(2,625	)	$	1,212		$	(1,413	)	$	(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.
Successor Company	'
Derivative Instruments	'
Schedule of open positions of derivative contracts on expected annual production volumes	'
		2014			2015			2016
	Natural gas positions:
	Fixed price swaps:
	Hedged volume (MMMBtu)	2,919			4,277			1,805
	Average price ($/MMBtu)	$	4.34		$	4.73		$	4.44
	Natural gas liquid positions:
	Fixed price swaps:
	Hedged volume (MBbls)	80			41			—
	Average price ($/Bbl)	$	31.54		$	42.39		$	—
	Oil positions:
	Fixed price swaps:
	Hedged volume (MBbls)	417			612			—
	Average price ($/Bbl)	$	92.08		$	89.19		$	—
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 (losses) gains recognized in other comprehensive loss related to derivatives in cash flow hedging relationships for the one and four months ended April 30, 2014 and three and six months ended June 30, 2013 (amounts in thousands):
		For the one			For the four			For the three			For the six
		month ended			months ended			months ended			months ended
		April 30, 2014			April 30, 2014			June 30, 2013			June 30, 2013
	Net (losses) gains recognized in accumulated other comprehensive loss on cash flow hedges	$	(1,611	)	$	(5,442	)	$	20,240		$	31,398
Schedule of effect on income from free-standing derivatives by derivative instrument type	'
	The following tables present the amounts recorded in net realized and unrealized (loss) gain on derivatives and foreign exchange on the condensed consolidated statements of operations for three and six months ended June 30, 2013 (amounts in thousands):
		Predecessor Company
		Three months ended June 30, 2013									Six months ended June 30, 2013
		Realized gains			Unrealized gains			Total			Realized gains			Unrealized gains			Total
		(losses)			(losses)						(losses)			(losses)
	Commodity swaps	$	(22	)	$	7,028		$	7,006		$	1,087		$	919		$	2,006
	Credit default swaps(1)	(518		)	49			(469		)	(3,161		)	1,519			(1,642		)
	Foreign exchange forward contracts and options(2)	3,177			(4,451		)	(1,274		)	2,266			(6,371		)	(4,105		)
	Net realized and realized gains (losses)	$	2,637		$	2,626		$	5,263		$	192		$	(3,933	)	$	(3,741	)
	(1)     Includes related income and expense on the derivatives.
	(2)     Net of foreign exchange remeasurement gain or loss on foreign denominated assets.

FAIR_VALUE_OF_FINANCIAL_INSTRU1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2014 (amounts in thousands):
		Successor Company
		As of June 30, 2014						Fair Value Hierarchy
		Carrying			Estimated			Quoted Prices in			Significant Other			Significant
		Amount			Fair Value			Active Markets			Observable			Unobservable
								for Identical			Inputs (Level 2)			Inputs
								Assets (Level 1)						(Level 3)
	Assets:
	Cash, restricted cash, and cash equivalents	$	806,720		$	806,720		$	806,720		$	—		$	—
	Liabilities:
	Credit facilities	83,289			83,289			—			—			83,289
	Senior notes	415,278			418,413			418,413			—			—
	Junior subordinated notes	246,062			248,051			—			—			248,051
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 June 30, 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 Inputs			June 30, 2014
		for Identical			Observable			(Level 3)
		Assets (Level 1)			Inputs (Level 2)
	Assets:
	Securities:
	Corporate debt securities	$	—		$	341,237		$	169,592		$	510,829
	Residential mortgage-backed securities	—			—			59,242			59,242
	Total securities	—			341,237			228,834			570,071
	Corporate loans	—			5,993,258			300,282			6,293,540
	Equity investments, at estimated fair value	21,322			116,021			141,160			278,503
	Interests in joint ventures and partnerships	—			12,430			515,556			527,986
	Other assets	—			5,424			—			5,424
	Derivatives:
	Interest rate swaps	—			841			—			841
	Commodity swaps	—			3,513			—			3,513
	Foreign exchange forward contracts	—			4,322			—			4,322
	Foreign exchange options	—			—			7,056			7,056
	Common stock warrants	—			1,077			—			1,077
	Total rate of return swaps	—			7			—			7
	Options	—			—			6,175			6,175
	Total derivatives	—			9,760			13,231			22,991
	Total	$	21,322		$	6,478,130		$	1,199,063		$	7,698,515
	Liabilities:
	Collateralized loan obligation secured notes	$	—		$	—		$	5,547,914		$	5,547,914
	Derivatives:
	Interest rate swaps	—			49,358			—			49,358
	Commodity swaps	—			11,227			—			11,227
	Foreign exchange forward contracts	—			27,595			—			27,595
	Total rate of return swaps	—			165			—			165
	Total derivatives	—			88,345			—			88,345
	Total	$	—		$	88,345		$	5,547,914		$	5,636,259
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 two months ended June 30, 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)	2,185			1,359			2,951			2,160			21,690			(1,798		)	(509		)	28,669
	Transfers into Level 3	—			—			—			—			—			—			—			—
	Transfers out of Level 3(2)	—			—			—			(1,230		)	—			—			—			—
	Purchases	20,000			—			1,261			—			27,466			—			—			52,594
	Sales	(3,966		)	—			(2,912		)	—			—			—			—			—
	Settlements	(5,127		)	(1,740		)	4,764			(17,535		)	(6,067		)	—			—			(197,014		)
	Ending balance as of June 30, 2014	$	169,592		$	59,242		$	300,282		$	141,160		$	515,556		$	7,056		$	6,175		$	5,547,914
	Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)	$	2,185		$	623		$	2,073		$	2,160		$	21,690		$	(1,798	)	$	(509	)	$	28,669
	(1)                 Amounts are included in net realized and unrealized gain (loss) on investments or net realized and unrealized (loss) gain on derivatives and foreign exchange in the condensed 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 loss on debt in the condensed consolidated statements of operations.
	(2)                 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 June 30, 2014 (dollar amounts in thousands):
	Successor Company
		Balance as of			Valuation		Unobservable		Weighted		Range		Impact to
		June 30,			Techniques(1)		Inputs(2)		Average(3)				Valuation
		2014											from an
													Increase in
													Input(4)
	Assets:
	Corporate debt securities	$	169,592		Yield analysis		Yield		12%		3% - 14%		Decrease
							Net leverage		12x		12x		Decrease
							EBITDA multiple		9x		8x - 10x		Increase
							Discount margin		900bps		900bps		Decrease
					Broker quotes		Offered quotes		103		102-106		Increase
	Residential mortgage -backed	$	59,242		Discounted cash flows		Probability of default		6%		0% - 24%		Decrease
	securities						Loss severity		26%		12% - 37%		Decrease
							Constant prepayment rate		13%		5% - 17%		-5
	Corporate loans	$	300,282		Yield Analysis		Yield		10%		3% - 18%		Decrease
							Net leverage		6x		0x - 14x		Decrease
							EBITDA multiple		9x		5x - 13x		Increase
	Equity investments, at estimated fair value(6)	$	141,160		Inputs to both market comparables and		Weight ascribed to market comparables		60%		33% - 100%		-7
					discounted cash flow		Weight ascribed to		55%		0% - 100%		-8
							discounted cash flows
					Market comparables		LTM EBITDA multiple		12x		5x - 23x		Increase
							Forward EBITDA multiple		10x		5x - 17x		Increase
					Discounted cash flows		Weighted average cost of capital		11%		8% - 18%		Decrease
							LTM EBITDA exit multiple		10x		7x - 11x		Increase
	Interests in joint ventures and partnerships(9)	$	515,556		Inputs to both market comparables and		Weight ascribed to market comparables		53%		0% - 100%		-7
					discounted cash flow		Weight ascribed to		72%		0% - 100%		-8
							discounted cash flows
					Market comparables		Current capitalization rate		7%		6% - 10%		Decrease
							LTM EBITDA		11x		8x - 12x		Increase
							multiple
							Forward EBITDA multiple		9x		9x		Increase
					Discounted cash flows		Weighted average cost of capital		13%		8% - 20%		Decrease
	Foreign exchange options	$	7,056		Option pricing model		Forward and spot rates		1		0 - 1		-10
	Options	$	6,175		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		10x		10x		Increase
					Discounted cash flows		Weighted average cost of capital		13%		13%		Decrease
							LTM EBITDA exit multiple		11x		11x		Increase
	Liabilities:
	Collateralized loan obligation secured notes	$	5,547,914		Yield analysis		Discount margin		229bps		0bps - 1500bps		Decrease
					Discounted cash flows		Probability of default		2%		2% - 3%		Decrease
							Loss severity		33%		30% - 38%		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.
	(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)                 Includes an asset that was valued using an independent third party valuation firm.
	(10)             The directional change from an increase in forward and spot rates varies and is dependent on the specific option.
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 December 31, 2013						Fair Value Hierarchy
		Carrying			Estimated			Quoted Prices in			Significant Other			Significant
		Amount			Fair Value			Active Markets			Observable			Unobservable
								for Identical			Inputs (Level 2)			Inputs
								Assets (Level 1)						(Level 3)
	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 condensed 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 Inputs			December 31,
		for Identical			Observable			(Level 3)			2013
		Assets (Level 1)			Inputs (Level 2)
	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).
		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 of assets measured on level 3 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 one and 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 one month ended April 30, 2014 for assets held at the end of the reporting period(1)	$	44		$	479		$	1,503		$	1,240		$	12,126		$	(24,158	)	$	726		$	192
	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 (loss) gain on derivatives and foreign exchange in the condensed 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.
	Certain interests in joint ventures and partnerships were transferred from Level 1 to Level 2 during the two months ended June 30, 2014 due to illiquid market conditions. There were no transfers between Level 1 and Level 2 during the one and 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 three months ended June 30, 2013 (amounts in thousands):
		Predecessor Company
		Securities			Other			Residential			Corporate			Equity			Common			Foreign			Interests in
		Available-			Securities,			Mortgage-			Loans, at			Investments,			Stock			Exchange			Joint
		For-Sale			at Estimated			Backed			Estimated			at Estimated			Warrants			Options,			Ventures and
					Fair Value			Securities			Fair Value			Fair Value						Net			Partnerships
	Beginning balance as of April 1, 2013	$	42,083		$	3,237		$	87,028		$	17,325		$	102,262		$	1,819		$	5,350		$	169,931
	Total gains or losses (for the period):
	Included in earnings(1)	99			944			(167		)	374			(1,426		)	1,742			401			(2,771		)
	Included in other comprehensive income	131			—			—			—			—			—			—			—
	Transfers into Level 3	—			—			—			—			—			—			—			—
	Transfers out of Level 3	—			—			—			—			—			—			—			—
	Purchases	—			23,691			—			28,695			3			—			—			74,851
	Sales	—			—			—			—			—			—			—			—
	Settlements	(4,933		)	—			(3,888		)	(458		)	(545		)	—			—			(6,987		)
	Ending balance as of June 30, 2013	$	37,380		$	27,872		$	82,973		$	45,936		$	100,294		$	3,561		$	5,751		$	235,024
	Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)	$	99		$	944		$	3,810		$	374		$	(1,426	)	$	1,742		$	401		$	(2,771	)
	(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 condensed consolidated statements of operations.
	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 six months ended June 30, 2013 (amounts in thousands):
		Predecessor Company
		Securities			Other			Residential			Corporate			Equity			Common			Foreign			Interests in
		Available-			Securities,			Mortgage-			Loans, at			Investments,			Stock			Exchange			Joint
		For-Sale			at Estimated			Backed			Estimated			at Estimated			Warrants			Options,			Ventures and
					Fair Value			Securities			Fair Value			Fair Value						Net			Partnerships
	Beginning balance as of January 1, 2013	$	42,221		$	2,909		$	83,842		$	16,141		$	97,746		$	1,574		$	8,277		$	142,477
	Total gains or losses (for the period):
	Included in earnings(1)	(18		)	1,272			5,554			(1,052		)	3,090			1,987			(2,526		)	3,908
	Included in other comprehensive income	221			—			—			—			—			—			—			—
	Transfers into Level 3	—			—			—			—			—			—			—			—
	Transfers out of Level 3	—			—			—			—			—			—			—			—
	Purchases	—			23,691			—			31,768			3			—			—			97,663
	Sales	—			—			—			—			—			—			—			—
Settlements	(5,044		)	—			(6,423		)	(921		)	(545		)	—			—			(9,024		)
Ending balance as of June 30, 2013	$	37,380		$	27,872		$	82,973		$	45,936		$	100,294		$	3,561		$	5,751		$	235,024
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)	$	(18	)	$	1,272		$	15,898		$	(1,348	)	$	3,090		$	1,987		$	(2,526	)	$	3,908
(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 condensed consolidated statements of operations.
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):
	Predecessor Company
		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
							Net leverage		12x		11x - 12x		Decrease
							EBITDA multiple		8x		8x - 9x		Increase
					Broker quotes		Offered quotes		105		104 - 105		Increase
	Other securities, at estimated	$	107,530		Yield Analysis		Yield		12%		7% - 17%		Decrease
	fair value						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	$	76,004		Discounted cash flows		Probability of default		7%		0% - 21%		Decrease
	securities						Loss severity		28%		16% - 77%		Decrease
							Constant prepayment rate		15%		3% - 35%		-5
	Corporate loans, at estimated	$	152,800		Yield Analysis		Yield		16%		14% - 23%		Decrease
	fair value						Net leverage		7x		4x - 12x		Decrease
							EBITDA multiple		8x		6x - 11x		Increase
	Equity investments, at estimated fair value(6)	$	138,059		Inputs to both market comparables and		Weight ascribed to market comparables		50%		33% - 100%		-7
					discounted cash flow		Weight ascribed to		59%		50% - 100%		-8
							discounted cash flows
					Market comparables		LTM EBITDA multiple		12x		6x - 16x		Increase
							Forward EBITA 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 market comparables and		Weight ascribed to market comparables		50%		50% - 100%		-7
					discounted cash flow		Weight ascribed to		50%		50% - 100%		-8
							discounted cash flows
					Market comparables		Current capitalization rate		7%		6% - 9%		Decrease
							LTM EBITDA multiple		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 market		Weight ascribed to market		50%		50%		-7
					comparables and		comparables
					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		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 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.
	(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.

SHAREHOLDERS_EQUITY_Tables

SHAREHOLDERS' EQUITY (Tables) (Predecessor Company)	6 Months Ended
	Jun. 30, 2014
Predecessor Company	'
Stock-based compensation	'
Schedule of restricted common share transactions	'
		Predecessor Company
		Manager		Directors		Total
	Unvested shares as January 1, 2014	584,634		85,194		669,828
	Issued	—		—		—
	Vested	(243,648	)	—		(243,648	)
	Forfeited	—		—		—
	Unvested shares as of April 30, 2014	340,986		85,194		426,180
Schedule of common share option transactions	'
		Predecessor Company
		Number of		Weighted Average
		Options		Exercise Price
	Outstanding as of January 1, 2014	1,932,279		$	20
	Granted	—		—
	Exercised	—		—
	Forfeited	—		—
	Outstanding as of April 30, 2014	1,932,279		$	20
Schedule of share-based compensation expense	'
	For the one and four months ended April 30, 2014 and three and six months ended June 30, 2013, the components of share-based compensation expense are as follows (amounts in thousands):
		Predecessor Company
		For the one			For the four			For the three		For the six
		month ended			months ended			months ended		months ended
		April 30, 2014			April 30, 2014			June 30, 2013		June 30, 2013
	Restricted common shares granted to Manager	$	113		$	690		$	664	$	1,383
	Restricted common shares granted to certain directors	64			328			252		513
	Total share-based compensation expense	$	177		$	1,018		$	916	$	1,896

MANAGEMENT_AGREEMENT_AND_RELAT1

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 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 condensed consolidated statements of operations, which are described in further detail below (amounts in thousands):
		Successor			Predecessor Company
		Company
		Two months ended			One month ended			Four months ended			Three months ended			Six months ended
		June 30, 2014			April 30, 2014			April 30, 2014			June 30, 2013			June 30, 2013
	Base management fees, net	$	5,941		$	1,631		$	5,253		$	9,629		$	19,186
	CLO management fees	4,465			2,480			11,016			1,664			2,513
	Incentive fees	—			—			12,882			5,561			22,742
	Manager share-based compensation	—			113			690			664			1,383
	Total related party management compensation	$	10,406		$	4,224		$	29,841		$	17,518		$	45,824
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
		Two months ended			One month ended			Four months ended			Three months ended			Six months ended
		June 30, 2014			April 30, 2014			April 30, 2014			June 30, 2013			June 30, 2013
	Base management fees, gross	$	6,688		$	3,372		$	13,364		$	9,860		$	19,417
	CLO management fees credit(1)	(747		)	(1,741		)	(8,111		)	(231		)	(231		)
	Total base management fees, net	$	5,941		$	1,631		$	5,253		$	9,629		$	19,186
	(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
		Two months ended			One month ended			Four months ended			Three months ended			Six months ended
		June 30, 2014			April 30, 2014			April 30, 2014			June 30, 2013			June 30, 2013
	Charged and retained CLO management fees (1)	$	3,718		$	739		$	2,905		$	1,433		$	2,282
	CLO management fees credit	747			1,741			8,111			231			231
	Total CLO management fees	$	4,465		$	2,480		$	11,016		$	1,664		$	2,513
	(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.

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 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 condensed consolidated financial statements as of June 30, 2014 and December 31, 2013 (amounts in thousands):
		Credit						Natural Resources						Other						Reconciling						Total Consolidated
																				Items
	As of	June 30,			December 31,			June 30,			December 31,			June 30,			December 31,			June 30,			December 31,			June 30,			December 31,
		2014			2013			2014			2013			2014			2013			2014			2013			2014			2013
	Total assets	$	8,547,333		$	8,020,353		$	632,527		$	505,029		$	208,372		$	190,946		$	194		$	870		$	9,388,426		$	8,717,198
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 condensed consolidated financial statements for the two months ended June 30, 2014 (amounts in thousands):
		Successor Company
		Credit			Natural Resources			Other			Reconciling Items(1)			Total Consolidated
		Two months ended			Two months ended			Two months ended			Two months ended			Two months ended
		June 30, 2014			June 30, 2014			June 30, 2014			June 30, 2014			June 30, 2014
	Total revenues	$	62,311		$	31,930		$	72		$	—		$	94,313
	Total investment costs and expenses	35,410			20,057			197			—			55,664
	Total other income (loss)	17,113			(4,880		)	8,654			—			20,887
	Total other expenses	12,753			1,393			183			35			14,364
	Income tax expense	24			—			4			—			28
	Net income (loss)	$	31,237		$	5,600		$	8,342		$	(35	)	$	45,144
	(1)     Consists of 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 condensed consolidated financial statements for the one and four months ended April 30, 2014 (amounts in thousands):
		Predecessor Company
		Credit						Natural Resources						Other						Reconciling Items(1)						Total Consolidated
		One			Four			One			Four			One			Four			One			Four			One			Four
		month			months			month			months			month			months			month			months			month			months
		ended			ended			ended			ended			ended			ended			ended			ended			ended			ended
		April 30,			April 30,			April 30,			April 30,			April 30,			April 30,			April 30,			April 30,			April 30,			April 30,
		2014			2014			2014			2014			2014			2014			2014			2014			2014			2014
	Total revenues	$	37,693		$	134,255		$	17,754		$	61,782		$	21,205		$	21,205		$	—		$	—		$	76,652		$	217,242
	Total investment costs and expenses	16,612			62,485			11,339			38,915			104			425			—			—			28,055			101,825
	Total other income (loss)	11,530			76,046			(2,734		)	(8,123		)	(25,302		)	(11,589		)	—			—			(16,506		)	56,334
	Total other expenses	7,286			23,121			479			1,633			90			230			26,296			40,625			34,151			65,609
	Income tax expense	127			146			—			—			16			16			—			—			143			162
	Net income (loss)	$	25,198		$	124,549		$	3,202		$	13,111		$	(4,307	)	$	8,945		$	(26,296	)	$	(40,625	)	$	(2,203	)	$	105,980
	(1)       Consists of certain expenses not allocated to individual segments including other expenses comprised of (i) incentive fees of zero and $12.9 million for the one and four months ended April 30, 2014, respectively and (ii) merger related transaction costs of $22.7 million for both the one and 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 condensed consolidated financial statements for the three and six months ended June 30, 2013 (amounts in thousands):
		Predecessor Company
		Credit						Natural Resources						Other						Reconciling Items(1)						Total Consolidated
		Three			Six			Three			Six			Three			Six			Three			Six			Three			Six
		months			months			months			months			months			months			months			months			months			months
		ended			ended			ended			ended			ended			ended			ended			ended			ended			ended
		June 30,			June 30,			June 30,			June 30,			June 30,			June 30,			June 30,			June 30,			June 30,			June 30,
		2013			2013			2013			2013			2013			2013			2013			2013			2013			2013
	Total revenues	$	109,377		$	224,526		$	27,867		$	51,672		$	—		$	1,496		$	—		$	—		$	137,244		$	277,694
	Total investment costs and expenses	45,445			106,844			19,500			38,969			248			429			—			—			65,193			146,242
	Total other income (loss)	31,958			125,884			7,265			2,519			(1,988		)	3,321			—			(20,269		)	37,235			111,455
	Total other expenses	15,028			28,996			799			2,429			244			368			7,125			26,230			23,196			58,023
	Income tax (benefit) expense	(46		)	411			—			—			4			5			—			—			(42		)	416
	Net income (loss)	$	80,908		$	214,159		$	14,833		$	12,793		$	(2,484	)	$	4,015		$	(7,125	)	$	(46,499	)	$	86,132		$	184,468
	(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 zero and $20.3 million for the three and six months ended June 30, 2013, respectively, and (ii) other expenses comprised of incentive fees of $5.6 million and $22.7 million for the three and six months ended June 30, 2013, 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)	6 Months Ended
	Jun. 30, 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 (loss) income per common share for the Predecessor Company (amounts in thousands, except per share information):
		Predecessor Company
		One month			Four months		Three months		Six months
		ended			ended		ended		ended
		April 30, 2014			April 30, 2014		June 30, 2013		June 30, 2013
	Net (loss) income	$	(2,203	)	$	105,980	$	86,132	$	184,468
	Less: Preferred share distributions	—			6,891		6,891		13,629
	Net (loss) income available to common shareholders	$	(2,203	)	$	99,089	$	79,241	$	170,839
	Less: Dividends and undistributed (loss) earnings allocated to participating securities	(5		)	292		262		591
	Net (loss) income allocated to common shareholders	$	(2,198	)	$	98,797	$	78,979	$	170,248
	Basic:
	Basic weighted average common shares outstanding	204,398			204,276		204,108		200,650
	Net (loss) income per common share	$	(0.01	)	$	0.48	$	0.39	$	0.85
	Diluted:
	Diluted weighted average common shares outstanding(1)	204,398			204,276		204,108		200,650
	Net (loss) income per common share	$	(0.01	)	$	0.48	$	0.39	$	0.85
	(1)     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)	6 Months Ended
	Jun. 30, 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
		One month ended April 30, 2014 (1)									Four months ended April 30, 2014 (1)
		Net unrealized			Net unrealized			Total			Net unrealized			Net unrealized			Total
		gains on			losses on cash						gains on			losses on cash
		available-for-sale			flow hedges						available-for-sale			flow hedges
		securities									securities
	Beginning balance	$	21,678		$	(43,050	)	$	(21,372	)	$	23,567		$	(39,219	)	$	(15,652	)
	Other comprehensive loss before reclassifications	(2,311		)	(1,611		)	(3,922		)	(2,614		)	(5,442		)	(8,056		)
	Amounts reclassified from accumulated other comprehensive loss(2)	(1,053		)	—			(1,053		)	(2,639		)	—			(2,639		)
	Net current-period other comprehensive loss	(3,364		)	(1,611		)	(4,975		)	(5,253		)	(5,442		)	(10,695		)
	Ending balance	$	18,314		$	(44,661	)	$	(26,347	)	$	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 $1.5 million and $4.4 million for investments which were determined to be other-than-temporary for the one and four months ended April 30, 2014, respectively. These reclassified amounts are included in net realized and unrealized gain (loss) on investments on the condensed consolidated statements of operations.
		Predecessor Company
		Three months ended									Six months ended
		June 30, 2013(1)									June 30, 2013(1)
		Net unrealized			Net unrealized			Total			Net unrealized			Net unrealized			Total
		gains on			losses on cash						gains on			losses on cash
		available-for-sale			flow hedges						available-for-sale			flow hedges
		securities									securities
	Beginning balance	$	22,997		$	(76,540	)	$	(53,543	)	$	17,472		$	(87,698	)	$	(70,226	)
	Other comprehensive (loss) income before reclassifications	(12,121		)	20,240			8,119			(9,709		)	31,398			21,689
	Amounts reclassified from accumulated other comprehensive loss(2)	5,781			—			5,781			8,894			—			8,894
	Net current-period other comprehensive (loss) income	(6,340		)	20,240			13,900			(815		)	31,398			30,583
	Ending balance	$	16,657		$	(56,300	)	$	(39,643	)	$	16,657		$	(56,300	)	$	(39,643	)
	(1)     The Company’s gross and net of tax amounts are the same.
	(2)     Includes an impairment charge of $6.6 million and $12.5 million for investments which were determined to be other-than-temporary for the three and six months ended June 30, 2013, respectively. These reclassified amounts are included in net realized and unrealized gain on investments on the condensed consolidated statements of operations.

ORGANIZATION_Details

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

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
	Successor Company	Successor Company	Successor Company	Predecessor Company	Predecessor Company	Predecessor Company
		Collateralized Debt Obligation (CLOs) VIEs	Collateralized Debt Obligation (CLOs) VIEs		Collateralized Debt Obligation (CLOs) VIEs	Collateralized Debt Obligation (CLOs) VIEs
		loan	Nonaffiliates		loan	Nonaffiliates
Collateralized Debt Obligation disclosures	'	'	'	'	'	'
Number of Collateralized Loan Obligation (CLOs) VIEs (in loans)	'	9	'	'	8	'
Corporate debt investment, par amount	'	$6,600,000,000	'	'	$6,700,000,000	'
Estimated fair value of corporate debt investments	'	6,400,000,000	'	'	6,400,000,000	'
Collateralized loan obligation secured debt	$5,547,914,000	'	$5,600,000,000	$5,249,383,000	'	$5,300,000,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	6 Months Ended	4 Months Ended	12 Months Ended
	Jun. 30, 2014	Apr. 30, 2014	Dec. 31, 2013
	methods	Predecessor Company	Predecessor Company
	approach	riskgrade	component
		loancategories
		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	'	'
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 corporate loans	'	'	'
Number of loan categories	'	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)	Jun. 30, 2014
KKR Fund Holdings	'
Earnings per common share	'
Number of common shares held	100

MERGER_TRANSACTION_Details

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

SECURITIES_Details

SECURITIES (Details) (USD $)	2 Months Ended			12 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
	Successor Company	Successor Company	Predecessor Company	Predecessor Company	Predecessor Company
		Securities, at estimated fair value		Other securities, at estimated fair value	Residential mortgage-backed securities, at estimated fair value
Net realized and unrealized gains	'	'	'	'	'
Net realized gains	$735	'	'	'	'
Net change in unrealized gains	10,823	'	'	'	'
Net realized and unrealized gains	11,558	'	'	'	'
Securities Available-for-Sale	'	'	'	'	'
Par	617,495	617,495	'	'	'
Amortized Cost	'	559,247	326,775	'	'
Amortized Cost	559,247	'	'	'	'
Gross Unrealized Gains	'	'	24,791	'	'
Gross Unrealized Losses	'	'	-1,225	'	'
Estimated Fair Value	'	'	350,341	'	'
Total securities	570,071	570,071	573,312	'	'
Total Securities	'	'	'	'	'
Amortized Cost	'	'	'	135,968	138,284
Gross Unrealized Gains	'	'	'	12,436	2,809
Gross Unrealized Losses	'	'	'	-1,437	-65,089
Other Securities, at Estimated Fair Value	'	'	'	146,967	76,004
Amortized Cost	'	'	601,027	'	'
Gross Unrealized Gains	'	'	40,036	'	'
Gross Unrealized Losses	'	'	-67,751	'	'
Total securities	$570,071	$570,071	$573,312	'	'

SECURITIES_Details_2

SECURITIES (Details 2) (USD $)	Jun. 30, 2014	Dec. 31, 2013	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
	Successor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company
	Corporate debt securities	Corporate debt securities	Securities available-for-sale	Securities available-for-sale	Securities available-for-sale	Securities available-for-sale	Securities available-for-sale
	issuer	issuer
	securities	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	'	'	1,500,000	6,600,000	4,400,000	12,500,000	'
Number of issuers with corporate debt securities in default	1	1	'	'	'	'	'
Number of corporate debt securities in default	1	1	'	'	'	'	'
Estimated fair value of corporate debt security in default	$13,200,000	$25,400,000	'	'	'	'	'

SECURITIES_Details_3

SECURITIES (Details 3) (Predecessor Company, USD $)	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013
Predecessor Company	'	'	'	'
Net realized gains and losses recognized on the sale of securities available for sale	'	'	'	'
Gross realized gains	$2,516	$679	$2,516	$2,829
Gross realized losses	'	-6	'	-6
Net realized gains	$2,516	$673	$2,516	$2,823

SECURITIES_Details_4

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

SECURITIES_Details_5

SECURITIES (Details 5) (USD $)	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
In Thousands, unless otherwise specified	Successor Company	Successor Company	Successor Company	Predecessor Company	Predecessor Company	Predecessor Company
	issuer	Corporate debt securities	Corporate debt securities	issuer	Corporate debt securities	Corporate debt securities
		Credit concentration	Credit concentration		Credit concentration	Credit concentration
		Top three largest	Ten issuers		Top three largest	Ten issuers
Concentrated risks	'	'	'	'	'	'
Number of issuers with whom a specified percentage of estimated fair value of corporate debt securities is concentrated (in issuers)	10	'	'	10	'	'
Number of largest issuers with whom a specified percentage of estimated fair value of debt securities is concentrated (in issuers)	3	'	'	3	'	'
Concentration risk of total fair value (as a percent)	'	32.00%	68.00%	'	21.00%	55.00%
Securities	'	$162,100	'	$350,341	$104,500	'
Estimated fair value of securities pledged as collateral	'	'	'	'	'	'
Pledged as collateral for collateralized loan obligation secured debt	329,385	'	'	324,830	'	'
Total	$329,385	'	'	$324,830	'	'

CORPORATE_LOANS_AND_ALLOWANCE_2

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details) (Successor Company, USD $)	Jun. 30, 2014
In Thousands, unless otherwise specified
Summary of corporate loans	'
Par	$6,499,112
Amortized Cost	6,267,679
Estimated Fair Value	6,293,540
Corporate loans at estimated fair value	'
Summary of corporate loans	'
Par	6,499,112
Amortized Cost	6,267,679
Estimated Fair Value	$6,293,540

CORPORATE_LOANS_AND_ALLOWANCE_3

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 2) (Successor Company, Corporate loans at estimated fair value, USD $)	2 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014
Successor Company | Corporate loans at estimated fair value	'
Net realized and unrealized (losses) gains	'
Net realized losses	($4,716)
Net change in unrealized gains	25,861
Net realized and unrealized gains	$21,145

CORPORATE_LOANS_AND_ALLOWANCE_4

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 3) (USD $)

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Apr. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Successor Company

Successor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Corporate Loans, at Estimated Fair Value

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate Loans Held for Sale

Corporate Loans, at Estimated Fair Value

Corporate loans and corporate loans held for sale

Summary of corporate loans

'

'

'

'

'

'

'

'

'

'

'

'

Principal

'

'

$6,873,666,000

'

'

$6,280,470,000

'

'

'

$315,738,000

$277,458,000

'

Net unamortized discount

'

'

-181,046,000

'

'

-105,979,000

'

'

'

-20,070,000

-54,997,000

'

Total amortized cost

6,267,679,000

6,267,679,000

6,692,620,000

'

'

6,174,491,000

'

'

'

295,668,000

222,461,000

'

Lower of cost or fair value adjustment

'

'

-15,920,000

'

'

'

'

'

'

-15,920,000

'

'

Allowance for loan losses

'

'

-224,999,000

-223,541,000

-223,541,000

-224,999,000

-203,255,000

-206,227,000

-223,472,000

'

'

'

Unrealized gains

'

'

15,019,000

'

'

'

'

'

'

'

15,019,000

'

Net carrying value

'

'

6,466,720,000

'

'

5,949,492,000

'

'

'

279,748,000

237,480,000

'

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 $)	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended	12 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013	Dec. 31, 2013	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013	Mar. 31, 2014
	component		riskgrade		component	Corporate Loans	Corporate Loans	Corporate Loans	Corporate Loans
			component
Summary of corporate loans	'	'	'	'	'	'	'	'	'
Number of components in the loans receivable allowance for loan losses (in components)	2	'	2	'	2	'	'	'	'
Number of Internally Assigned Risk Grades	'	'	3	'	3	'	'	'	'
Allowance for loan losses:	'	'	'	'	'	'	'	'	'
Beginning balance	'	'	$224,999	'	'	$206,227	$224,999	$223,472	$223,541
Provision for loan losses	'	'	'	11,068	'	'	'	11,068	'
Charge-offs	0	-3,000	-1,500	-31,300	'	-2,972	-1,458	-31,285	'
Ending balance	'	'	'	'	$224,999	$203,255	$223,541	$203,255	$223,541

CORPORATE_LOANS_AND_ALLOWANCE_6

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 5) (Predecessor Company, USD $)	Apr. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012
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	223,541	224,999	203,255	206,227	223,472
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 $)	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013
Predecessor Company	'	'	'	'
Average recorded investment in impaired loans and interest income recognized	'	'	'	'
Interest income related to impaired loans with a related allowance recorded	$1,000,000	'	$4,500,000	'
Average Recorded Investment, with no related allowance recorded	'	'	'	2,163,000
Average Recorded Investment, with an allowance recorded	'	538,344,000	'	505,212,000
Average Recorded Investment	'	538,344,000	'	507,375,000
Interest Income Recognized, with an allowance recorded	'	5,995,000	'	10,269,000
Interest Income Recognized	'	$5,995,000	'	$10,269,000

CORPORATE_LOANS_AND_ALLOWANCE_9

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 8) (USD $)

Jun. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Dec. 31, 2013

Successor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Corporate Loans, at Estimated Fair Value

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate Loans Held for Sale

Corporate Loans Held for Sale

Corporate Loans Held for Sale

Corporate Loans Held for Sale

Corporate Loans Held for Sale

Corporate Loans, at Estimated Fair Value

Corporate Loans, at Estimated Fair Value

issuer

issuer

issuer

Recorded investment in impaired loans and related allowances for credit losses

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Recorded investment with nonaccrual status

'

'

'

'

'

$624,148,000

'

'

'

'

$554,442,000

'

'

'

'

$44,823,000

'

$24,883,000

Interest income recognized using cash basis method

'

1,100,000

7,400,000

5,300,000

15,400,000

'

1,000,000

6,000,000

4,500,000

10,300,000

'

100,000

1,400,000

700,000

5,100,000

'

100,000

'

Par amount of non-accrual loans

505,200,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated fair value of non-accrual loans

373,300,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Estimated fair value of past due loans

31,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12,200,000

Recorded investment of non-accrual and past due loans

'

'

'

'

'

'

'

'

'

'

237,200,000

'

'

'

'

'

'

'

Par amount of non-accrual and past due loans

48,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15,500,000

Number of issuers past due (in issuers)

1

'

'

'

'

'

'

'

'

'

3

'

'

'

'

'

'

1

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

$1,100,000

'

'

'

'

'

'

'

'

'

$2,400,000

'

'

'

'

'

'

$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 $)	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013	Dec. 31, 2013
Summary of corporate loans	'	'	'	'	'
Charge-offs recorded	$0	$3,000	$1,500	$31,300	'
Corporate loans held for sale	'	'	'	'	279,748
Corporate loans transferred from held for investment to held for sale	'	'	348,808	76,803	'
Net charge for lower of cost or estimated fair value adjustment	'	'	-5,038	8,650	'
Corporate loans transferred from held for sale to held for investment	0	0	0	0	'
Carrying reported amount	'	'	'	'	'
Summary of corporate loans	'	'	'	'	'
Corporate loans held for sale	'	'	'	'	279,748
Corporate Loan Held for Investment	'	'	'	'	'
Summary of corporate loans	'	'	'	'	'
Charge-offs recorded	'	2,972	1,458	31,285	'
Corporate loans transferred from held for investment to held for sale	110,700	55,400	348,800	76,800	'
Corporate Loans Held for Sale	'	'	'	'	'
Summary of corporate loans	'	'	'	'	'
Corporate loans held for sale	546,100	117,500	546,100	117,500	'
Net charge for lower of cost or estimated fair value adjustment	$3,300	$3,900	($5,000)	$8,700	'

Recovered_Sheet3

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 11) (USD $)

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

12 Months Ended

4 Months Ended

1 Months Ended

4 Months Ended

6 Months Ended

12 Months Ended

1 Months Ended

4 Months Ended

6 Months Ended

Jun. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Apr. 30, 2014

Apr. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Successor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

issuer

loan

issuer

issuer

issuer

Minimum

Maximum

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate Loan Held for Investment

Corporate loans at estimated fair value

Corporate loans at estimated fair value

Corporate loans at estimated fair value

Corporate loans at estimated fair value

loan

loan

loan

issuer

issuer

issuer

issuer

item

item

issuer

issuer

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

'

'3 years

'5 years

'

'

'

'

'

'

'

'

Higher coupon rate for extended period (as a percent)

'

'

'

4.00%

6.80%

'

'

'

'

'

'

'

'

'

'

'

Number of TDRs (in issuers)

'

'

'

'

'

'

'

'

0

1

2

'

0

2

1

'

Pre-modification outstanding recorded investment

'

0

'

195,422,000

70,028,000

'

'

'

0

154,075,000

68,358,000

'

0

41,347,000

1,670,000

'

Number of issuers troubled debt restructurings

'

'

'

2

3

'

'

'

'

'

'

'

'

'

'

'

Post-modification outstanding recorded investment

'

0

'

24,571,000

40,659,000

'

'

'

0

'

39,430,000

'

0

24,571,000

1,229,000

'

Estimated fair value of equity received from the TDRs excluded from post-modification outstanding recorded investment

'

'

'

'

'

'

'

'

92,000,000

92,000,000

2,100,000

'

12,300,000

12,300,000

'

'

Number of TDRs identified as impaired (in issuers)

'

'

'

'

'

'

'

'

1

1

2

'

'

'

'

'

Number of loans carried at estimated fair value

'

'

'

'

'

'

'

'

'

'

'

'

'

2

1

'

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

'

0

3,000,000

1,500,000

31,300,000

'

'

'

'

'

'

'

'

'

'

'

Lending commitment to borrower whose loans had been modified in the troubled debt restructuring

'

0

'

0

'

'

'

'

'

'

'

'

'

'

'

'

Number of loans modified as TDRs in default

'

0

'

0

'

'

'

'

'

'

'

'

'

'

'

'

Modified amortized cost of corporate loans that did not qualify as TDRs

'

135,200,000

773,500,000

1,100,000,000

1,800,000,000

'

'

'

'

'

'

'

'

'

'

'

Number of loans in default

4

'

'

'

'

6

'

'

'

'

'

'

'

'

'

'

Amortized cost of corporate loans in default

'

'

'

'

'

215,700,000

'

'

'

'

'

'

'

'

'

12,000,000

Estimated fair value of corporate loans in default

329,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of issuers in default

2

'

'

'

'

2

'

'

'

'

'

'

'

'

'

'

Amortized cost of corporate loans in default

'

'

'

'

'

'

'

'

'

'

'

$203,700,000

'

'

'

'

Recovered_Sheet4

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 12) (USD $)	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
	Successor Company	Successor Company	Successor Company	Successor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company
		Corporate Loans	Corporate Loans	Corporate Loans		Corporate Loans	Corporate Loans	Corporate Loans
		issuer	Percent to total investment in corporate loans, debt securities and other investments	Percent to total investment in corporate loans, debt securities and other investments		issuer	Percent to total investment in corporate loans, debt securities and other investments	Percent to total investment in corporate loans, debt securities and other investments
			Top Twenty Issuers	Top Three Issuers			Top Twenty Issuers	Top Three Issuers
Concentrated risks	'	'	'	'	'	'	'	'
Concentration risk (as a percent)	'	'	42.00%	12.00%	'	'	46.00%	14.00%
Number of issuers with whom a specified percentage of estimated fair value or amortized cost of corporate loans is concentrated	'	20	'	'	'	20	'	'
Number of issuers with the largest concentration of corporate loans	'	3	'	'	'	3	'	'
Amortized cost of corporate loans concentrated in major issuers (in dollars)	'	'	'	'	'	'	'	$935,200,000
Estimated fair value of corporate loans	$6,293,540,000	'	'	$768,700,000	$237,480,000	'	'	'

Recovered_Sheet5

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 13) (USD $)	Jun. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Successor Company	Predecessor Company
	Estimated Fair Value	Carrying Amount
Pledged assets	'	'
Pledged as collateral for collateralized loan obligation secured debt	$5,975,146	$6,231,541
Total loans pledged as collateral	$5,975,146	$6,231,541

NATURAL_RESOURCES_ASSETS_Detai

NATURAL RESOURCES ASSETS (Details) (USD $)	6 Months Ended	12 Months Ended
	Jun. 30, 2014	Dec. 31, 2013
	Successor Company	Predecessor Company
Oil and natural gas properties	'	'
Proved oil and natural gas properties (successful efforts method)	$519,823,000	$451,909,000
Unproved oil and natural gas properties	16,913,000	16,913,000
Less: Accumulated depreciation, depletion and amortization	-11,058,000	-68,453,000
Oil and gas properties, net	525,678,000	400,369,000
Amount capitalized from purchases of natural resource assets	$85,000,000	$154,500,000

BORROWINGS_Details

BORROWINGS (Details) (USD $)

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Sep. 27, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Nov. 30, 2012

Nov. 14, 2013

Dec. 31, 2013

Feb. 27, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Jun. 25, 2013

Dec. 31, 2013

Jun. 25, 2013

Jan. 23, 2014

Jan. 23, 2014

In Thousands, unless otherwise specified

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

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

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Nonaffiliates

CLO 2005-1 senior secured notes

CLO 2005-2 senior secured notes

CLO 2006-1 senior secured notes

CLO 2007-1 senior secured notes

CLO 2007-1 mezzanine notes

CLO 2007-A senior secured notes

CLO 2011-1 senior debt

CLO 2012-1 senior secured notes

CLO 2012-1 subordinated notes

2015 Natural Resources Facility

2018 Natural Resources Facility

2018 Natural Resources Facility

2018 Natural Resources Facility

Total credit facilities

8.375% Senior Notes

7.500% Senior notes

Junior subordinated notes

CLO 2013-1 senior secured notes

CLO 2013-2 senior secured notes

CLO 2007-1 subordinated notes to affiliates

CLO 2007-A mezzanine notes to affiliates

CLO 2007-A subordinated notes to affiliates

Nonaffiliates

CLO 2005-1 senior secured notes

CLO 2005-2 senior secured notes

CLO 2006-1 senior secured notes

CLO 2007-1 senior secured notes

CLO 2007-1 mezzanine notes

CLO 2007-1 subordinated notes

CLO 2007-A senior secured notes

CLO 2007-A mezzanine notes

CLO 2007-A subordinated notes

CLO 2011-1 senior debt

CLO 2011-1 senior debt

CLO 2012-1 senior secured notes

CLO 2012-1 subordinated notes

2015 Facility

2015 Facility

2015 Natural Resources Facility

2015 Natural Resources Facility

2018 Natural Resources Facility

2018 Natural Resources Facility

Total credit facilities

8.375% Senior Notes

7.500% Senior notes

Junior subordinated notes

CLO 2013-1 senior secured notes

CLO 2013-1 senior secured notes

CLO 2013-1 senior secured notes

CLO 2013-2 senior secured notes

CLO 2013-2 senior secured notes

LIBOR

LIBOR

Nonaffiliates

Nonaffiliates

Details of Company's borrowings

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Par

$5,581,022

'

$219,088

$274,945

$248,930

$2,069,459

$489,723

$350,592

$451,871

$367,500

$18,000

'

'

'

'

'

'

'

'

$458,500

$339,250

$134,468

$143,600

$15,096

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$519,400

'

$458,500

$384,000

$339,300

Collateralized loan obligation secured debt

5,547,914

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,249,383

'

193,909

335,570

384,925

2,075,040

406,428

136,097

428,152

55,327

15,096

'

388,703

362,727

18,000

'

'

'

'

'

'

'

'

'

'

'

449,409

'

'

'

Credit facilities

83,289

'

'

'

'

'

'

'

'

'

'

55,689

27,600

0

'

83,289

'

'

'

'

'

'

'

'

125,289

'

'

'

'

'

'

'

'

'

'

'

'

'

'

75,000

'

'

50,289

'

'

125,289

'

'

'

'

'

'

'

'

Senior notes

415,278

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

258,750

115,043

'

'

'

'

'

'

362,276

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

250,800

111,476

'

'

'

'

'

'

Junior subordinated notes

246,062

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

283,517

'

'

'

'

'

283,517

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

283,517

'

'

'

'

'

Total borrowings

6,321,621

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,020,465

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total borrowings, carrying value

6,292,543

5,547,914

217,470

273,017

247,081

2,047,353

484,087

350,423

451,871

366,217

15,059

55,689

27,600

'

'

83,289

291,458

123,820

246,062

447,273

334,979

131,926

143,620

37,538

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted Average Borrowing Rate (as a percent)

'

'

1.67%

0.65%

1.04%

0.78%

3.83%

2.03%

1.58%

2.32%

16.27%

2.40%

1.90%

'

'

'

8.38%

7.50%

5.39%

1.96%

2.21%

14.50%

7.41%

20.69%

'

'

0.73%

0.63%

0.69%

0.79%

3.65%

18.15%

1.57%

7.44%

42.22%

'

1.25%

2.34%

11.67%

1.39%

'

'

2.42%

'

'

'

8.38%

7.50%

5.39%

'

1.98%

'

'

'

Weighted Average Remaining Maturity

'

'

'1031 days

'1245 days

'1517 days

'2511 days

'2511 days

'1203 days

'1507 days

'3821 days

'3821 days

'493 days

'1338 days

'

'

'

'10000 days

'10125 days

'8133 days

'4033 days

'4225 days

'2511 days

'1203 days

'1203 days

'

'

'1212 days

'1426 days

'1698 days

'2692 days

'2692 days

'2692 days

'1384 days

'1384 days

'1384 days

'

'1688 days

'4002 days

'4002 days

'699 days

'

'

'674 days

'

'1519 days

'

'10181 days

'10306 days

'8347 days

'

'4214 days

'

'

'

Total borrowings, fair value of collateral

$6,850,053

$6,392,626

$258,161

$433,092

$507,929

$2,495,371

$590,513

$129,018

$549,617

$370,670

$18,155

$172,594

$284,833

'

'

$457,427

'

'

'

$468,808

$350,750

$162,142

$52,845

$5,555

$6,645,905

$6,431,970

$303,104

$496,917

$649,894

$2,354,938

$461,250

$154,456

$540,677

$69,867

$19,063

'

$517,597

$376,603

$18,689

'

'

'

$213,935

'

'

$213,935

'

'

'

'

$468,915

'

'

'

Debt, variable interest rate basis

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'LIBOR

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'three-month LIBOR

'

'

'

'

'LIBOR

'LIBOR

'

'LIBOR

'

'

'

'

'

'three-month LIBOR

'

'

'three-month LIBOR

'

BORROWINGS_Details_2

BORROWINGS (Details 2) (USD $)

2 Months Ended

2 Months Ended

2 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

0 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

0 Months Ended

3 Months Ended

0 Months Ended

1 Months Ended

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Sep. 27, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Sep. 27, 2013

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Jan. 23, 2014

Jan. 23, 2014

Jun. 25, 2013

Jun. 25, 2013

Apr. 30, 2014

Apr. 30, 2014

Successor Company

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

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

CLO 2011-1 senior debt

CLO 2007-1 Class E secured notes

CLO 2013-2 senior secured notes

CLO 2013-1 senior secured notes

CLO 2007-A, CLO 2005-1, CLO 2005-2, CLO 2006-1 and CLO 2007-1 senior notes

CLO 2006-1 Class E secured notes

CLO 2012-1 senior secured notes

CLO 2007-A notes

CLO 2007-A, CLO 2005-1, CLO 2005-2 and CLO 2006-1 senior notes

CLO 2007-A, CLO 2005-1, CLO 2005-2 and CLO 2006-1 senior notes

CLO 2007-A, CLO 2005-1, CLO 2005-2 and CLO 2006-1 senior notes

CLO 2007-A, CLO 2005-1, CLO 2005-2 and CLO 2006-1 senior notes

CLO 2011-1 senior debt

CLO 2011-1 senior debt

CLO 2011-1 senior debt

CLO 2011-1 senior debt

CLO 2011-1 senior debt

CLO 2011-1 senior debt

CLO 2007-1 Class E secured notes

CLO 2007-A Class G secured notes

CLO 2007-A Class H secured notes

CLO 2013-2 senior secured notes

CLO 2013-2 senior secured notes

CLO 2013-1 senior secured notes

CLO 2013-1 senior secured notes

CLO 2007-A Class D and E secured notes

CLO 2005-1 Class D through F secured notes

Maximum

Nonaffiliates

Nonaffiliates

Details of Company's borrowings

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Collateralized loan obligation secured debt repaid

$196,940,000

'

'

'

'

$196,900,000

'

'

'

$221,914,000

$551,844,000

$128,200,000

$360,200,000

$182,600,000

$506,300,000

'

$39,400,000

$24,000,000

$39,400,000

$45,500,000

'

'

'

'

'

'

'

'

'

'

Par amount of notes issued

'

'

37,500,000

'

'

'

15,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

21,900,000

29,800,000

29,800,000

'

'

'

'

61,100,000

72,000,000

Proceeds from senior notes

'

'

37,600,000

'

'

'

15,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

21,900,000

30,200,000

30,100,000

'

'

'

'

61,300,000

71,500,000

Increase in the maximum borrowing capacity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

300,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Increase in current borrowing capacity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

225,000,000

'

'

'

'

'

'

'

'

'

Par amount of notes issued

5,581,022,000

451,871,000

'

339,250,000

458,500,000

'

'

367,500,000

350,592,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

384,000,000

339,300,000

519,400,000

458,500,000

'

'

Floating rate senior secured note

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

319,300,000

'

442,000,000

'

'

Debt, variable interest rate basis

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'three-month LIBOR

'

'

'

'

'

'

'

'

'three-month LIBOR

'

'three-month LIBOR

'

'

'

Percentage of margin added to reference rate to determine interest rate on debt (in percentage)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1.35%

'

'

'

'

'

'

'

'

'

2.16%

'

1.67%

'

'

Fixed rate senior secured note

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$20,000,000

'

$16,500,000

'

'

Fixed rate (as a percent)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.74%

'

3.73%

'

'

BORROWINGS_Details_3

BORROWINGS (Details 3) (USD $)

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Dec. 31, 2013

Nov. 30, 2012

Dec. 31, 2013

Nov. 30, 2012

Nov. 30, 2012

20-May-14

Nov. 14, 2013

Dec. 31, 2013

Nov. 14, 2013

Nov. 14, 2013

Feb. 27, 2013

15-May-14

Feb. 27, 2013

Feb. 27, 2013

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

2015 Natural Resources Facility

2018 Natural Resources Facility

2018 Natural Resources Facility

2018 Natural Resources Facility

2015 Facility

2015 Facility

2015 Facility

2015 Facility

2015 Natural Resources Facility

2015 Natural Resources Facility

2015 Natural Resources Facility

2015 Natural Resources Facility

2015 Natural Resources Facility

2018 Natural Resources Facility

2018 Natural Resources Facility

2018 Natural Resources Facility

2018 Natural Resources Facility

LIBOR

LIBOR

Alternate base rate

Minimum

Maximum

Minimum

Maximum

LIBOR

LIBOR

LIBOR

LIBOR

Details of Company's borrowings

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Credit facility term

'

'

'

'

'

'

'3 years

'

'

'

'5 years

'

'

'

'

'5 years

'

'

'

Current borrowing capacity under line of credit facility

'

'

'

'

'

'

$150,000,000

'

'

'

$75,000,000

'

'

'

'

'

'

'

'

Maximum borrowing capacity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6,000,000

68,500,000

'

'

Amount outstanding

$83,289,000

$55,689,000

$27,600,000

$0

'

$125,289,000

'

$75,000,000

'

'

'

'

$50,289,000

'

'

'

'

'

'

Debt, variable interest rate basis

'

'

'

'

'LIBOR

'

'

'

'LIBOR

'alternate base rate

'

'LIBOR

'

'

'

'LIBOR

'

'

'

Percentage of margin added to reference rate to determine interest rate on debt (in percentage)

'

'

'

'

'

'

'

'

2.25%

1.25%

'

'

'

1.75%

2.75%

'

'

1.75%

3.25%

BORROWINGS_Details_4

BORROWINGS (Details 4) (Predecessor Company, USD $)	6 Months Ended	0 Months Ended
Share data in Millions, unless otherwise specified	Jun. 30, 2013	Jan. 18, 2013
		7.5% 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)	'	0.1418256
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)	'	0.0092324
Amount of debt that had been tendered for conversion	$186,254,000	$172,500,000
Number of common shares of the entity issued in exchange of convertible notes (in shares)	'	26.1

DERIVATIVE_INSTRUMENTS_Details

DERIVATIVE INSTRUMENTS (Details) (USD $)

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

In Thousands, unless otherwise specified

Successor Company

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

Predecessor Company

Predecessor Company

Free-Standing Derivatives:

Free-Standing Derivatives:

Free-Standing Derivatives:

Free-Standing Derivatives:

Free-Standing Derivatives:

Free-Standing Derivatives:

Free-Standing Derivatives:

Free-Standing Derivatives:

Cash Flow Hedges:

Free-Standing Derivatives:

Free-Standing Derivatives:

Free-Standing Derivatives:

Free-Standing Derivatives:

Free-Standing Derivatives:

Free-Standing Derivatives:

Free-Standing Derivatives:

Interest rate swaps

Commodity swaps

Credit default swaps-protection purchased

Foreign exchange forward contracts

Foreign exchange options

Common stock warrants

Total Rate of Return Swaps

Options

Interest rate swaps

Commodity swaps

Credit default swaps-protection purchased

Foreign exchange forward contracts

Foreign exchange options

Common stock warrants

Total Rate of Return Swaps

Options

Summary of aggregate notional amount and estimated net fair value of the derivative instruments

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Notional amount

'

$458,833

'

$0

($300,370)

$129,900

'

'

'

'

$478,333

'

($100,000)

($320,380)

$129,900

'

'

'

Estimated Fair Value

($65,354)

($48,517)

($7,714)

'

($23,273)

$7,056

$1,077

($158)

$6,175

($51,411)

($42,078)

$1,493

($2,019)

($25,258)

$8,941

$945

($229)

$6,794

DERIVATIVE_INSTRUMENTS_Details1

DERIVATIVE INSTRUMENTS (Details 2) (Predecessor Company, USD $)	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013
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	($1,611)	$20,240	($5,442)	$31,398

DERIVATIVE_INSTRUMENTS_Details2

DERIVATIVE INSTRUMENTS (Details 3) (USD $)	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2013
	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company	Predecessor Company	Predecessor Company
	Foreign exchange options and forward contracts	Free-Standing Derivatives:	Free-Standing Derivatives:	Free-Standing Derivatives:	Free-Standing Derivatives:	Free-Standing Derivatives:	Free-Standing Derivatives:	Free-Standing Derivatives:	Free-Standing Derivatives:	Foreign exchange options and forward contracts	Free-Standing Derivatives:
		Natural gas positions	Natural gas positions	Natural gas positions	Natural gas liquid positions	Natural gas liquid positions	Oil positions	Oil positions	Credit default swaps-protection purchased		Credit default swaps-protection purchased
		2014	2015	2016	2014	2015	2014	2015
		MMBTU	MMBTU	MMBTU	MBbls	MBbls	MBbls	MBbls
Fixed price swaps	'	'	'	'	'	'	'	'	'	'	'
Hedged volume (MBbls)	'	'	'	'	80	41	417	612	'	'	'
Hedged volume (MMMBtu)	'	2,919	4,277	1,805	'	'	'	'	'	'	'
Average price ($/Bbl)	'	'	'	'	31.54	42.39	92.08	89.19	'	'	'
Average price ($/MMBtu)	'	4.34	4.73	4.44	'	'	'	'	'	'	'
Notional amount	'	'	'	'	'	'	'	'	'	'	'
Notional amount	'	'	'	'	'	'	'	'	$0	'	($100,000,000)
Notional amount of liability	$170,500,000	'	'	'	'	'	'	'	'	$190,500,000	'

DERIVATIVE_INSTRUMENTS_Details3

DERIVATIVE INSTRUMENTS (Details 4) (Free-Standing Derivatives:, USD $)

2 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

4 Months Ended

1 Months Ended

4 Months Ended

1 Months Ended

4 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Apr. 30, 2014

Apr. 30, 2014

Apr. 30, 2014

Apr. 30, 2014

Apr. 30, 2014

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

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Interest rate swaps

Commodity swaps

Foreign exchange forward contracts and options

Common stock warrants

Total Rate of Return Swaps

Options

Commodity swaps

Commodity swaps

Commodity swaps

Commodity swaps

Credit Default Swaps

Credit Default Swaps

Credit Default Swaps

Foreign exchange forward contracts and options

Foreign exchange forward contracts and options

Foreign exchange forward contracts and options

Foreign exchange forward contracts and options

Common stock warrants

Common stock warrants

Total Rate of Return Swaps

Total Rate of Return Swaps

Options

Options

Effect on income from free-standing derivatives

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Realized gains (losses)

($3,003)

'

($1,532)

($1,640)

'

$169

'

($2,625)

$2,637

($9,099)

$192

($601)

($22)

($2,515)

$1,087

($518)

($2,167)

($3,161)

($1,618)

$3,177

($2,068)

$2,266

'

'

($406)

($2,349)

'

'

Unrealized gains (losses)

-6,161

-1,125

-3,350

-958

-5

-213

-510

1,212

2,626

-684

-3,933

-2,189

7,028

-5,856

919

49

1,986

1,519

2,716

-4,451

2,784

-6,371

123

137

170

284

392

-19

Total

($9,164)

($1,125)

($4,882)

($2,598)

($5)

($44)

($510)

($1,413)

$5,263

($9,783)

($3,741)

($2,790)

$7,006

($8,371)

$2,006

($469)

($181)

($1,642)

$1,098

($1,274)

$716

($4,105)

$123

$137

($236)

($2,065)

$392

($19)

FAIR_VALUE_OF_FINANCIAL_INSTRU2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $)

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Apr. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Quoted Prices in Active Markets for Identical Assets (Level 1)

Significant Unobservable Inputs (Level 3)

Carrying Amount

Estimated Fair Value

Proved oil and natural gas properties

Corporate Loans

Corporate Loans

Corporate Loans

Corporate Loans

Corporate Loans

Corporate Loans

Corporate Loans Held for Sale

Corporate Loans Held for Sale

Quoted Prices in Active Markets for Identical Assets (Level 1)

Significant Other Observable Inputs (Level 2)

Significant Unobservable Inputs (Level 3)

Carrying Amount

Carrying Amount

Estimated Fair Value

Estimated Fair Value

Proved oil and natural gas properties

Proved oil and natural gas properties

Assets:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Cash, restricted cash, and cash equivalents

'

$806,720,000

'

$806,720,000

$806,720,000

'

'

'

'

'

'

'

'

'

'

$507,552,000

'

'

$507,552,000

'

$507,552,000

'

Corporate loans, net of allowance for loan losses of $224,999 as of December 31, 2013

6,293,540,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,691,988,000

359,653,000

5,949,492,000

'

6,051,641,000

'

Allowances for loan losses

'

'

'

'

'

224,999,000

'

223,541,000

223,541,000

224,999,000

203,255,000

206,227,000

223,472,000

'

'

'

'

'

'

'

'

'

Corporate loans held for sale

'

'

'

'

'

279,748,000

'

'

'

'

'

'

'

546,100,000

117,500,000

'

267,169,000

14,109,000

279,748,000

'

281,278,000

'

Private equity investments, at cost

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

4,496,000

405,000

'

4,496,000

'

Other assets

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,513,000

'

5,763,000

'

5,513,000

'

Liabilities:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Collateralized loan obligation secured debt

5,547,914,000

'

'

'

'

5,249,383,000

'

'

'

'

'

'

'

'

'

'

'

5,179,207,000

5,249,383,000

'

5,179,207,000

'

Credit facilities

'

'

83,289,000

83,289,000

83,289,000

'

'

'

'

'

'

'

'

'

'

'

'

125,289,000

125,289,000

'

125,289,000

'

Senior notes

415,278,000

418,413,000

'

415,278,000

418,413,000

362,276,000

'

'

'

'

'

'

'

'

'

393,772,000

'

'

362,276,000

'

393,772,000

'

Junior subordinated notes

246,062,000

'

248,051,000

246,062,000

248,051,000

283,517,000

'

'

'

'

'

'

'

'

'

'

'

247,416,000

283,517,000

'

247,416,000

'

Oil and natural gas properties

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Impairment charges of oil and natural gas properties

'

'

'

'

'

'

10,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Oil and natural gas properties

$525,678,000

'

'

'

'

$400,369,000

'

'

'

'

'

'

'

'

'

'

'

'

'

$16,100,000

'

$5,700,000

FAIR_VALUE_OF_FINANCIAL_INSTRU3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) (USD $)

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Apr. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

In Thousands, unless otherwise specified

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

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

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Common and preferred stock

Estimated Fair Value

Significant Other Observable Inputs (Level 2)

Significant Unobservable Inputs (Level 3)

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Recurring basis

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Quoted Prices in Active Markets for Identical Assets (Level 1)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Unobservable Inputs (Level 3)

Significant Unobservable Inputs (Level 3)

Significant Unobservable Inputs (Level 3)

Significant Unobservable Inputs (Level 3)

Significant Unobservable Inputs (Level 3)

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Estimated Fair Value

Quoted Prices in Active Markets for Identical Assets (Level 1)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Other Observable Inputs (Level 2)

Significant Unobservable Inputs (Level 3)

Significant Unobservable Inputs (Level 3)

Significant Unobservable Inputs (Level 3)

Significant Unobservable Inputs (Level 3)

Significant Unobservable Inputs (Level 3)

Significant Unobservable Inputs (Level 3)

Residential mortgage-backed securities

Corporate debt securities

Interest rate swaps

Commodity swaps

Foreign exchange forward contracts

Foreign exchange options

Common stock warrants

Total Rate of Return Swaps

Options

Corporate debt securities

Interest rate swaps

Commodity swaps

Foreign exchange forward contracts

Common stock warrants

Total Rate of Return Swaps

Residential mortgage-backed securities

Corporate debt securities

Foreign exchange options

Options

Other securities, at estimated fair value

Residential mortgage-backed securities

Interest rate swaps

Commodity swaps

Credit default swaps-protection purchased

Foreign exchange forward contracts

Foreign exchange options

Common stock warrants

Total Rate of Return Swaps

Options

Other securities, at estimated fair value

Interest rate swaps

Commodity swaps

Credit default swaps-protection purchased

Foreign exchange forward contracts

Common stock warrants

Total Rate of Return Swaps

Portion at estimated fair value

Other securities, at estimated fair value

Residential mortgage-backed securities

Foreign exchange options

Options

Portion at estimated fair value

Assets:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Securities available-for-sale

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$350,341

'

'

'

'

$350,341

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$326,940

'

'

'

'

'

$23,401

Trading securities

'

'

59,242

510,829

'

'

'

'

'

'

'

'

'

341,237

'

'

'

'

'

'

59,242

169,592

'

'

'

'

'

'

'

'

146,967

76,004

'

'

'

'

'

'

'

'

'

'

39,437

'

'

'

'

'

'

'

'

107,530

76,004

'

'

'

Total securities

570,071

570,071

'

'

'

'

'

'

'

'

'

'

341,237

'

'

'

'

'

'

228,834

'

'

'

'

573,312

'

'

'

'

573,312

'

'

'

'

'

'

'

'

'

'

'

366,377

'

'

'

'

'

'

'

'

206,935

'

'

'

'

'

Corporate loans

6,293,540

6,293,540

'

'

'

'

'

'

'

'

'

'

5,993,258

'

'

'

'

'

'

300,282

'

'

'

'

237,480

'

'

'

'

237,480

'

'

'

'

'

'

'

'

'

'

'

84,680

'

'

'

'

'

'

'

'

152,800

'

'

'

'

'

Equity investments, at estimated fair value

278,503

278,503

'

'

'

'

'

'

'

'

'

21,322

116,021

'

'

'

'

'

'

141,160

'

'

'

'

181,212

16,100

'

'

'

181,212

'

'

'

'

'

'

'

'

'

'

39,515

3,638

'

'

'

'

'

'

'

'

138,059

'

'

'

'

'

Interests in joint ventures and partnerships

534,026

527,986

'

'

'

'

'

'

'

'

'

'

12,430

'

'

'

'

'

'

515,556

'

'

'

'

436,241

'

'

'

'

430,083

'

'

'

'

'

'

'

'

'

'

14,836

'

'

'

'

'

'

'

'

'

415,247

'

'

'

'

'

Other assets

'

5,424

'

'

'

'

'

'

'

'

'

'

5,424

'

'

'

'

'

'

'

'

'

'

'

'

'

5,513

5,513

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivatives:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative assets

'

'

'

'

841

3,513

4,322

7,056

1,077

7

6,175

'

'

'

841

3,513

4,322

1,077

7

'

'

'

7,056

6,175

'

'

'

'

'

'

'

'

3,290

5,408

'

4,846

8,941

945

'

6,794

'

'

'

3,290

5,408

'

4,846

945

'

'

'

'

'

8,941

6,794

'

Total derivatives

22,991

22,991

'

'

'

'

'

'

'

'

'

'

9,760

'

'

'

'

'

'

13,231

'

'

'

'

30,224

'

'

'

'

30,224

'

'

'

'

'

'

'

'

'

'

'

14,489

'

'

'

'

'

'

'

'

15,735

'

'

'

'

'

Total

'

7,698,515

'

'

'

'

'

'

'

'

'

21,322

6,478,130

'

'

'

'

'

'

1,199,063

'

'

'

'

'

'

'

'

'

1,452,311

'

'

'

'

'

'

'

'

'

'

54,351

469,184

'

'

'

'

'

'

'

'

928,776

'

'

'

'

'

Liabilities:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Collateralized loan obligation secured debt

5,547,914

5,547,914

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5,547,914

'

'

'

'

5,249,383

'

5,179,207

'

5,179,207

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivatives:

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Derivative liabilities

'

'

'

'

49,358

11,227

27,595

'

'

165

'

'

'

'

49,358

11,227

27,595

'

165

'

'

'

'

'

'

'

'

'

'

'

'

'

45,368

3,915

2,019

30,104

'

'

229

'

'

'

'

45,368

3,915

2,019

30,104

'

229

'

'

'

'

'

'

'

Total derivatives

88,345

88,345

'

'

'

'

'

'

'

'

'

'

88,345

'

'

'

'

'

'

'

'

'

'

'

81,635

'

'

'

'

81,635

'

'

'

'

'

'

'

'

'

'

'

81,635

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total

'

$5,636,259

'

'

'

'

'

'

'

'

'

'

$88,345

'

'

'

'

'

'

$5,547,914

'

'

'

'

'

'

'

'

'

$81,635

'

'

'

'

'

'

'

'

'

'

'

$81,635

'

'

'

'

'

'

'

'

'

'

'

'

'

'

FAIR_VALUE_OF_FINANCIAL_INSTRU4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) (Predecessor Company, USD $)	Apr. 30, 2014	Dec. 31, 2013	Jun. 30, 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	'
Transfers from Level 1 into Level 2	0	'	0
Transfers from Level 2 into Level 1	0	'	0
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	'	'	'
Liabilities measured at fair value on a non-recurring basis	'	0	'
Loans held for sale	'	96,053	'
Asset, fair value	'	$96,053	'

FAIR_VALUE_OF_FINANCIAL_INSTRU5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) (USD $)

2 Months Ended

1 Months Ended

4 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

In Thousands, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Apr. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Mar. 31, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Mar. 31, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Mar. 31, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Mar. 31, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Mar. 31, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Mar. 31, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Mar. 31, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Jun. 30, 2013

Jun. 30, 2013

Apr. 30, 2014

Mar. 31, 2014

Apr. 30, 2014

Successor Company

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

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Collateralized loan obligation secured notes

Corporate debt securities

Residential mortgage-backed securities

Corporate loans at estimated fair value

Equity investments, at estimated fair value

Interests in Joint Ventures and Partnerships

Foreign Exchange Options, Net

Options

Securities available-for-sale

Securities available-for-sale

Securities available-for-sale

Securities available-for-sale

Securities available-for-sale

Other Securities, at Estimated Fair Value

Other Securities, at Estimated Fair Value

Other Securities, at Estimated Fair Value

Other Securities, at Estimated Fair Value

Other Securities, at Estimated Fair Value

Residential mortgage-backed securities

Residential mortgage-backed securities

Residential mortgage-backed securities

Residential mortgage-backed securities

Residential mortgage-backed securities

Corporate loans at estimated fair value

Corporate loans at estimated fair value

Corporate loans at estimated fair value

Corporate loans at estimated fair value

Corporate loans at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Interests in Joint Ventures and Partnerships

Interests in Joint Ventures and Partnerships

Interests in Joint Ventures and Partnerships

Interests in Joint Ventures and Partnerships

Interests in Joint Ventures and Partnerships

Foreign Exchange Options, Net

Foreign Exchange Options, Net

Foreign Exchange Options, Net

Foreign Exchange Options, Net

Foreign Exchange Options, Net

Common Stock Warrants

Common Stock Warrants

Options

Options

Options

Reconciliation of assets measured on Level 3 basis

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Balance at the beginning of the period

'

$5,663,665

$156,500

$59,623

$294,218

$157,765

$472,467

$8,854

$6,684

'

'

'

$23,528

$23,401

$42,083

$23,401

$42,221

$125,511

$107,530

$3,237

$107,530

$2,909

$58,753

$76,004

$87,028

$76,004

$83,842

$153,395

$152,800

$17,325

$152,800

$16,141

$258,977

$138,059

$102,262

$138,059

$97,746

$494,420

$415,247

$169,931

$415,247

$142,477

$8,128

$8,941

$5,350

$8,941

$8,277

$1,819

$1,574

$6,492

$6,794

$6,794

Total gain or losses (for the period)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Included in earnings

'

28,669

2,185

1,359

2,951

2,160

21,690

-1,798

-509

'

'

'

44

22

99

'

-18

479

3,059

944

'

1,272

1,416

3,088

-167

'

5,554

1,240

-5,123

374

'

-1,052

12,126

9,076

-1,426

'

3,090

-24,158

22,377

-2,771

'

3,908

726

-813

401

'

-2,526

1,742

1,987

192

-302

'

Included in other comprehensive income

'

'

'

'

'

'

'

'

'

'

'

'

33

121

131

'

221

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Transfers into Level 3

0

'

'

'

'

'

'

'

'

0

0

'

6,937

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Transfers out of Level 3

'

'

'

'

'

-1,230

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-119,033

-8,751

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Purchases

'

52,594

20,000

'

1,261

'

27,466

'

'

'

'

'

'

'

'

'

'

'

25,000

23,691

'

23,691

'

'

'

'

'

'

8,822

28,695

'

31,768

'

'

3

'

3

1,615

42,683

74,851

'

97,663

'

'

'

'

'

'

'

'

'

'

Sales

'

'

-3,966

'

-2,912

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

-17,810

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Settlements

'

-197,014

-5,127

-1,740

4,764

-17,535

-6,067

'

'

'

'

'

-32

-16

-4,933

'

-5,044

'

-10,078

'

'

'

-546

-2,529

-3,888

'

-6,423

2,272

-3,104

-458

'

-921

'

120,593

-545

'

-545

-1,184

14,113

-6,987

'

-9,024

'

'

'

'

'

'

'

'

'

'

Balance at the end of the period

'

5,547,914

169,592

59,242

300,282

141,160

515,556

7,056

6,175

'

'

'

30,510

23,528

37,380

30,510

37,380

125,990

125,511

27,872

125,990

27,872

59,623

58,753

82,973

59,623

82,973

156,907

153,395

45,936

156,907

45,936

152,070

258,977

100,294

152,070

100,294

470,693

494,420

235,024

470,693

235,024

8,854

8,128

5,751

8,854

5,751

3,561

3,561

6,684

6,492

6,684

Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period

'

28,669

2,185

623

2,073

2,160

21,690

-1,798

-509

'

'

'

44

'

99

66

-18

479

'

944

2,683

1,272

1,503

'

3,810

5,242

15,898

1,240

'

374

4,445

-1,348

12,126

'

-1,426

20,499

3,090

-24,158

'

-2,771

-1,781

3,908

726

'

401

-87

-2,526

1,742

1,987

192

'

-110

Transfers from Level 1 into Level 2

'

'

'

'

'

'

'

'

'

0

0

0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Transfers from Level 2 into Level 1

'

'

'

'

'

'

'

'

'

$0

$0

$0

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

FAIR_VALUE_OF_FINANCIAL_INSTRU6

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 5) (USD $)

6 Months Ended

6 Months Ended

6 Months Ended

12 Months Ended

12 Months Ended

12 Months Ended

In Thousands, except Per Share data, unless otherwise specified

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

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

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Minimum

Maximum

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Minimum

Maximum

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Unobservable Inputs

Collateralized loan obligation secured notes

Foreign exchange options

Corporate debt securities

Residential mortgage-backed securities

Corporate loans at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Interests in joint ventures and partnerships

Options

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Broker quotes

Broker quotes

Broker quotes

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Market comparables

Market comparables

Market comparables

Market comparables

Market comparables

Market comparables

Market comparables

Market comparables

Market comparables

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Option pricing model

Option pricing model

Option pricing model

Foreign exchange options

Other securities, at estimated fair value

Residential mortgage-backed securities

Corporate loans at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Interests in joint ventures and partnerships

Options

Securities available-for-sale

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Yield analysis

Broker quotes

Broker quotes

Broker quotes

Broker quotes

Broker quotes

Broker quotes

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Discounted cash flow

Market comparables

Market comparables

Market comparables

Market comparables

Market comparables

Market comparables

Market comparables

Market comparables

Market comparables

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Inputs to both market comparables and discounted cash flow

Option pricing model

Option pricing model

Option pricing model

Minimum

Weighted Average

Minimum

Maximum

Corporate debt securities

Corporate debt securities

Corporate debt securities

Other securities, at estimated fair value

Other securities, at estimated fair value

Corporate loans at estimated fair value

Corporate loans at estimated fair value

Corporate loans at estimated fair value

Securities available-for-sale

Securities available-for-sale

Securities available-for-sale

Other securities, at estimated fair value

Other securities, at estimated fair value

Other securities, at estimated fair value

Weighted Average

Minimum

Maximum

Residential mortgage-backed securities

Residential mortgage-backed securities

Residential mortgage-backed securities

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Options

Options

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Options

Options

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Options

Options

Foreign exchange options

Foreign exchange options

Foreign exchange options

Minimum

Corporate debt securities

Other securities, at estimated fair value

Other securities, at estimated fair value

Other securities, at estimated fair value

Other securities, at estimated fair value

Corporate loans at estimated fair value

Corporate loans at estimated fair value

Corporate loans at estimated fair value

Securities available-for-sale

Securities available-for-sale

Securities available-for-sale

Other securities, at estimated fair value

Other securities, at estimated fair value

Other securities, at estimated fair value

Securities available-for-sale

Securities available-for-sale

Securities available-for-sale

Residential mortgage-backed securities

Residential mortgage-backed securities

Residential mortgage-backed securities

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Options

Options

Options

Options

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Options

Options

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Equity investments, at estimated fair value

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Interests in joint ventures and partnerships

Options

Options

Foreign exchange options

Foreign exchange options

Foreign exchange options

Collateralized loan obligation secured notes

Collateralized loan obligation secured notes

Collateralized loan obligation secured notes

Weighted Average

Maximum

Minimum

Weighted Average

Weighted Average

Minimum

Maximum

Corporate debt securities

Corporate debt securities

Corporate debt securities

Weighted Average

Minimum

Maximum

Collateralized loan obligation secured notes

Collateralized loan obligation secured notes

Collateralized loan obligation secured notes

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Corporate debt securities

Corporate debt securities

Corporate debt securities

Weighted Average

Minimum

Maximum

Corporate debt securities

Corporate debt securities

Corporate debt securities

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Valuation techniques used for assets, measured at fair value

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Assets, fair value (in dollars)

'

'

'

$7,056

$169,592

$59,242

$300,282

$141,160

'

$515,556

$6,175

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$8,941

$107,530

$76,004

$152,800

$138,059

'

$415,247

$6,794

$23,401

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Liabilities, fair value (in dollars)

'

'

$5,547,914

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Yield

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12.00%

14.00%

3.00%

'

'

10.00%

3.00%

18.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12.00%

7.00%

17.00%

16.00%

14.00%

23.00%

10.00%

6.00%

12.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net leverage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

6

0

14

12

12

12

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1

1

2

7

4

12

12

11

12

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Illiquidity discount

'

'

'

'

'

'

'

'

5.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

5.00%

'

'

'

3.00%

3.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weight ascribed to market comparables

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

60.00%

33.00%

100.00%

53.00%

0.00%

100.00%

50.00%

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

50.00%

33.00%

100.00%

50.00%

50.00%

100.00%

50.00%

50.00%

'

'

'

Weight ascribed to discounted cash flows

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

55.00%

0.00%

100.00%

72.00%

0.00%

100.00%

50.00%

50.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

59.00%

50.00%

100.00%

50.00%

50.00%

100.00%

50.00%

50.00%

'

'

'

EBITDA multiple

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7

7

9

5

13

9

8

10

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8

7

8

8

6

11

8

8

9

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discount margin

'

'

'

'

'

'

'

'

'

'

'

22.90%

0.00%

150.00%

'

'

'

90.00%

90.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Offered quotes (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$103

$102

$106

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$102

$101

$102

$105

$104

$105

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Probability of default

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

2.00%

2.00%

3.00%

6.00%

0.00%

24.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7.00%

0.00%

21.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Loss severity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

33.00%

30.00%

38.00%

26.00%

12.00%

37.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

28.00%

16.00%

77.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Constant prepayment rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

13.00%

5.00%

17.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

15.00%

3.00%

35.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

LTM EBITDA multiple

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12

5

23

9

9

'

'

9

9

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12

6

16

9

9

'

'

9

9

'

'

'

'

'

'

'

'

'

'

'

Forward EBITDA multiple

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10

5

17

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

12

10

14

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Weighted average cost of capital

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11.00%

8.00%

18.00%

12.00%

8.00%

24.00%

12.00%

12.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

11.00%

8.00%

14.00%

12.00%

8.00%

24.00%

12.00%

12.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Current capitalization rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7.00%

6.00%

10.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

7.00%

6.00%

9.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

LTM EBITDA exit multiple

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10

7

11

'

'

'

10

10

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

10

4

11

'

'

'

'

10

9

10

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Forward and spot rates, Assets

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1

0

1

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

1

0

1

Weight ascribed to each valuation technique

0.00%

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

0.00%

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	6 Months Ended
In Millions, unless otherwise specified	Jun. 30, 2014	Jun. 30, 2014	Jun. 30, 2014	Dec. 31, 2013	Dec. 31, 2013
	item	Successor Company	Successor Company	Predecessor Company	Predecessor Company
			Corporate Loans		Corporate Loans
Guarantees	'	'	'	'	'
Non-recourse debt	'	$331.50	'	$231.70	'
Financial guarantees related to natural resources investments	'	17.9	'	17.9	'
Estimated future contributions for interests in joint ventures and partnerships	'	181.2	'	325.5	'
Aggregate par amounts to purchase corporate loans	'	'	'	'	62.7
Unfunded financing commitments for corporate loans	'	'	$14.20	'	$17.40
Contingencies	'	'	'	'	'
Number of Delaware actions voluntarily dismissed	2	'	'	'	'

SHAREHOLDERS_EQUITY_Details

SHAREHOLDERS' EQUITY (Details) (USD $)

Jun. 27, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Dec. 16, 2013

Apr. 30, 2014

Jan. 17, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Dec. 31, 2013

Apr. 30, 2014

Apr. 30, 2014

KKR & Co.

Successor Company

Successor Company

Successor Company

Successor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Series A LLC Preferred Shares

Common share options

Common share options

KFN

KFN

Series A LLC Preferred Shares

Series A LLC Preferred Shares

Restricted common shares

Restricted common shares

Restricted common shares

Restricted common shares

Restricted common shares

Restricted common shares

Restricted common shares

Common share options

Phantom share

Maximum

KKR & Co.

KKR & Co.

KFN

Manager

Manager

Directors

Directors

Directors

KKR & Co.

KFN

KKR & Co.

Stock-based compensation

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Preferred shares, shares issued

'

14,950,000

'

'

'

'

14,950,000

'

'

'

14,950,000

'

'

'

'

'

'

'

'

'

Gross proceeds from issue of preferred shares (in dollars)

'

'

'

'

'

'

'

'

'

'

$373,800,000

'

'

'

'

'

'

'

'

'

Net proceeds from issuance of preferred stock (in dollars)

'

'

'

'

'

361,622,000

'

'

'

'

362,000,000

'

'

'

'

'

'

'

'

'

Preferred shares, dividend rate (as a percent)

'

'

7.38%

'

'

'

'

'

'

7.38%

7.38%

'

'

'

'

'

'

'

'

'

Exchange ratio of share based awards under merger transaction

'

'

'

'

'

'

'

0.51

0.51

'

'

'

'

0.51

'

'

'

'

'

0.51

Number of common shares issued

100

100

'

'

'

'

204,824,159

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of common shares outstanding

100

100

'

'

'

'

204,824,159

'

'

'

'

'

'

'

'

'

'

'

'

'

Exercise price of share options granted, minimum (as a percent)

'

'

'

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Termination period from date of grant

'

'

'

'

'10 years

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Authorized shares available to satisfy awards as of the balance sheet date

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8,964,625

'

Restricted common share transactions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Unvested shares at the beginning of the period

'

'

'

'

'

'

'

'

'

'

'

669,828

'

'

584,634

'

85,194

85,194

'

'

Vested (in shares)

'

'

'

'

'

'

'

'

'

'

'

-243,648

'

'

-243,648

'

'

'

'

'

Unvested shares at the end of the period

'

'

'

'

'

'

'

'

'

'

'

426,180

'

'

340,986

'

85,194

85,194

'

'

Value of unvested restricted common shares granted (in dollars per share)

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$11.54

$10.55

'

'

'

'

Unrecognized compensation cost (in dollars)

'

'

'

'

'

'

'

'

'

'

'

$2,200,000

$4,200,000

'

'

'

'

'

'

'

SHAREHOLDERS_EQUITY_Details_2

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

SHAREHOLDERS_EQUITY_Details_3

SHAREHOLDERS' EQUITY (Details 3) (Predecessor Company, Restricted common shares, USD $)	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013
Stock-based compensation	'	'	'	'
Share-based compensation expense (in dollars)	$177	$916	$1,018	$1,896
Manager	'	'	'	'
Stock-based compensation	'	'	'	'
Share-based compensation expense (in dollars)	113	664	690	1,383
Directors	'	'	'	'
Stock-based compensation	'	'	'	'
Share-based compensation expense (in dollars)	$64	$252	$328	$513

MANAGEMENT_AGREEMENT_AND_RELAT2

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details) (USD $)

2 Months Ended

6 Months Ended

2 Months Ended

6 Months Ended

2 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Sep. 30, 2007

Apr. 30, 2014

Jun. 30, 2013

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

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

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

CLO Management Fees

CLO Management Fees

CLO Management Fees

Manager

Manager

Manager

Collateral manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Collateral manager

Collateral manager

Collateral manager

Collateral manager

CollateralizedLoanObligations

Maximum

CLO 2013-1 and CLO 2013-2

item

Base Management Fees

Base Management Fees

CLO Management Fees

Base Management Fees

Base Management Fees

Base Management Fees

Base Management Fees

Base Management Fees

Incentive Fees

Incentive Fees

Incentive Fees

Manager Share-Based Compensation

Manager Share-Based Compensation

Manager Share-Based Compensation

Manager Share-Based Compensation

CLO Management Fees

CLO Management Fees

CLO Management Fees

CLO Management Fees

periods

Management Agreement and Related Party Transactions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Renewal period

'

'

'

'

'1 year

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Votes for termination, minimum (as a percent)

'

'

'

'

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

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Related party transaction expense

'

'

'

'

'

$5,941,000

'

$4,465,000

$0

$5,561,000

$12,882,000

$22,742,000

$1,631,000

$9,629,000

'

$5,253,000

$19,186,000

$5,561,000

$12,882,000

$22,742,000

$113,000

$664,000

$690,000

$1,383,000

$2,480,000

$1,664,000

$11,016,000

$2,513,000

Total related party management compensation

10,406,000

'

'

'

'

'

'

'

4,224,000

17,518,000

29,841,000

45,824,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Entity's percentage in subordinated notes (as a percent)

'

'

100.00%

100.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of CLOs the Company owns less than 100% of subordinated notes

'

3

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Common shares offering

'

'

'

'

'

'

'

'

'

'

'

'

'

'

230,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Common share right offering

'

'

'

'

'

'

'

'

'

'

'

'

'

'

270,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Common share closing price, minimum (in dollars per share)

'

'

'

'

'

$20

$20

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of consecutive trading days

'

'

'

'

'

'

'5 days

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Fees, waived

'

'

'

'

'

$1,500,000

'

$1,600,000

'

'

'

'

$700,000

$2,200,000

'

$2,900,000

$4,400,000

'

'

'

'

'

'

'

$0

$7,300,000

$1,600,000

$15,000,000

MANAGEMENT_AGREEMENT_AND_RELAT3

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details 2) (USD $)	2 Months Ended	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
In Thousands, unless otherwise specified	Jun. 30, 2014	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013
	Successor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company
	Manager					Manager	Manager	Manager	Manager
	Base Management Fees					Base Management Fees	Base Management Fees	Base Management Fees	Base Management Fees
Management Agreement and Related Party Transactions	'	'	'	'	'	'	'	'	'
Base management fees, gross	$6,688	'	'	'	'	$3,372	$9,860	$13,364	$19,417
CLO management fees credit	-747	'	'	'	'	-1,741	-231	-8,111	-231
Total related party transaction expense	$5,941	$0	$5,561	$12,882	$22,742	$1,631	$9,629	$5,253	$19,186

MANAGEMENT_AGREEMENT_AND_RELAT4

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details 3) (USD $)

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

In Thousands, unless otherwise specified

Successor Company

Successor Company

Successor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Collateral manager

Manager

Restricted common shares

Restricted common shares

Restricted common shares

Restricted common shares

Collateral manager

Collateral manager

Collateral manager

Collateral manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

Manager

CLO Management Fees

Reimbursable General and Administrative Expenses

CLO Management Fees

CLO Management Fees

CLO Management Fees

CLO Management Fees

Incentive Fees

Incentive Fees

Incentive Fees

Manager Share-Based Compensation

Manager Share-Based Compensation

Manager Share-Based Compensation

Manager Share-Based Compensation

Manager Share-Based Compensation

Manager Share-Based Compensation

Manager Share-Based Compensation

Manager Share-Based Compensation

Reimbursable General and Administrative Expenses

Reimbursable General and Administrative Expenses

Reimbursable General and Administrative Expenses

Reimbursable General and Administrative Expenses

Restricted common shares

Restricted common shares

Restricted common shares

Restricted common shares

Management Agreement and Related Party Transactions

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Charged and retained CLO management fees

'

$3,718

'

'

'

'

'

'

'

'

'

'

$739

$1,433

$2,905

$2,282

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

CLO management fees credit

'

-747

'

'

'

'

'

'

'

'

'

'

-1,741

-231

-8,111

-231

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total related party transaction expense

'

4,465

1,400

0

5,561

12,882

22,742

'

'

'

'

'

2,480

1,664

11,016

2,513

5,561

12,882

22,742

113

664

690

1,383

'

'

'

'

900

1,900

2,800

3,600

Related party payable

4,420

'

'

'

'

'

'

5,574

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Expenses recognized for restricted common shares granted

'

'

'

'

'

'

'

'

$177

$916

$1,018

$1,896

'

'

'

'

'

'

'

'

'

'

'

$100

$700

$700

$1,400

'

'

'

'

MANAGEMENT_AGREEMENT_AND_RELAT5

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details 4) (Affiliates, USD $)

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

In Millions, unless otherwise specified

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Successor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

issuer

Corporate loans

Corporate debt securities

Equity investments, at estimated fair value

Joint ventures and partnerships

Affiliated investments

issuer

Corporate loans

Corporate debt securities

Equity investments, at estimated fair value

Joint ventures and partnerships

Affiliated investments

Percent to total investment in corporate loans, debt securities and other 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)

'

'

'

'

'

25.00%

'

'

'

'

'

27.00%

Investment in affiliates, number of issuers

26

'

'

'

'

'

28

'

'

'

'

'

Estimated Fair Value

$1,800

$1,700

$9.50

$118.90

$528

'

$2,100

$1,900

$52.80

$84.50

'

'

Aggregate cost amount

'

'

'

'

'

'

'

'

'

'

$400.30

'

SEGMENT_REPORTING_Details

SEGMENT REPORTING (Details) (USD $)

1 Months Ended

2 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

1 Months Ended

3 Months Ended

4 Months Ended

6 Months Ended

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Jun. 30, 2014

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

Apr. 30, 2014

Jun. 30, 2013

Apr. 30, 2014

Jun. 30, 2013

Dec. 31, 2013

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

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Predecessor Company

Reportable segments

Reportable segments

Reportable segments

Reconciling Items

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reportable segments

Reconciling Items

Reconciling Items

Reconciling Items

Reconciling Items

Reconciling Items

Credit

Natural Resources

Other

Credit

Credit

Credit

Credit

Credit

Natural Resources

Natural Resources

Natural Resources

Natural Resources

Natural Resources

Other

Other

Other

Other

Other

Reconciliation of operating profit loss from segment to consolidated

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total revenues

'

$94,313,000

$62,311,000

$31,930,000

$72,000

'

$76,652,000

$137,244,000

$217,242,000

$277,694,000

'

$37,693,000

$109,377,000

$134,255,000

$224,526,000

'

$17,754,000

$27,867,000

$61,782,000

$51,672,000

'

$21,205,000

'

$21,205,000

$1,496,000

'

'

'

'

'

'

Total investment costs and expenses

'

55,664,000

35,410,000

20,057,000

197,000

'

28,055,000

65,193,000

101,825,000

146,242,000

'

16,612,000

45,445,000

62,485,000

106,844,000

'

11,339,000

19,500,000

38,915,000

38,969,000

'

104,000

248,000

425,000

429,000

'

'

'

'

'

'

Total other income (loss)

'

20,887,000

17,113,000

-4,880,000

8,654,000

'

-16,506,000

37,235,000

56,334,000

111,455,000

'

11,530,000

31,958,000

76,046,000

125,884,000

'

-2,734,000

7,265,000

-8,123,000

2,519,000

'

-25,302,000

-1,988,000

-11,589,000

3,321,000

'

'

0

'

-20,269,000

'

Total other expenses

'

14,364,000

12,753,000

1,393,000

183,000

35,000

34,151,000

23,196,000

65,609,000

58,023,000

'

7,286,000

15,028,000

23,121,000

28,996,000

'

479,000

799,000

1,633,000

2,429,000

'

90,000

244,000

230,000

368,000

'

26,296,000

7,125,000

40,625,000

26,230,000

'

Income tax expense (benefit)

'

28,000

24,000

'

4,000

'

143,000

-42,000

162,000

416,000

'

127,000

-46,000

146,000

411,000

'

'

'

'

'

'

16,000

4,000

16,000

5,000

'

'

'

'

'

'

Net income (loss)

45,144,000

45,144,000

31,237,000

5,600,000

8,342,000

-35,000

-2,203,000

86,132,000

105,980,000

184,468,000

'

25,198,000

80,908,000

124,549,000

214,159,000

'

3,202,000

14,833,000

13,111,000

12,793,000

'

-4,307,000

-2,484,000

8,945,000

4,015,000

'

-26,296,000

-7,125,000

-40,625,000

-46,499,000

'

Incentive fees

'

'

'

'

'

'

0

5,561,000

12,882,000

22,742,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Net loss on restructuring and extinguishment of debt

'

0

'

'

'

'

'

'

'

20,269,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Merger related transaction costs

'

'

'

'

'

'

22,700,000

'

22,700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Total assets

$9,388,426,000

$9,388,426,000

$8,547,333,000

$632,527,000

$208,372,000

$194,000

'

'

'

'

$8,717,198,000

'

'

'

'

$8,020,353,000

'

'

'

'

$505,029,000

'

'

'

'

$190,946,000

'

'

'

'

$870,000

EARNINGS_PER_COMMON_SHARE_Deta

EARNINGS PER COMMON SHARE (Details) (USD $)	Jun. 30, 2014	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013
In Thousands, except Share data, unless otherwise specified	KKR Fund Holdings	Predecessor Company	Predecessor Company	Predecessor Company	Predecessor Company
Earnings per common share	'	'	'	'	'
Number of common shares held	100	'	'	'	'
Reconciliation of basic and diluted net income and distributions per common share	'	'	'	'	'
Net (loss) income	'	($2,203)	$86,132	$105,980	$184,468
Less: Preferred share distributions	'	'	6,891	6,891	13,629
Net income (loss) available to common shares	'	-2,203	79,241	99,089	170,839
Less: Dividends and undistributed (loss) earnings allocated to participating securities	'	-5	262	292	591
Net (loss) income allocated to common shareholders	'	($2,198)	$78,979	$98,797	$170,248
Basic:	'	'	'	'	'
Basic weighted average common shares outstanding (in shares)	'	204,398,000	204,108,000	204,276,000	200,650,000
Net (loss) income per common share (in dollars per share)	'	($0.01)	$0.39	$0.48	$0.85
Diluted:	'	'	'	'	'
Diluted weighted average common shares outstanding (in shares)	'	204,398,000	204,108,000	204,276,000	200,650,000
Net (loss) income per common share (in dollars per share)	'	($0.01)	$0.39	$0.48	$0.85
Anti-dilutive securities	'	'	'	'	'
Anti-dilutive securities excluded from diluted earnings per share calculations (in shares)	'	1,932,279	1,932,279	1,932,279	1,932,279

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) (Predecessor Company, USD $)	1 Months Ended	3 Months Ended	4 Months Ended	6 Months Ended
	Apr. 30, 2014	Jun. 30, 2013	Apr. 30, 2014	Jun. 30, 2013
Components of changes in accumulated other comprehensive income (loss)	'	'	'	'
Beginning balance	($21,372,000)	($53,543,000)	($15,652,000)	($70,226,000)
Other comprehensive (loss) income before reclassifications	-3,922,000	8,119,000	-8,056,000	21,689,000
Amounts reclassified from accumulated other comprehensive loss	-1,053,000	5,781,000	-2,639,000	8,894,000
Net current-period other comprehensive (loss) income	-4,975,000	13,900,000	-10,695,000	30,583,000
Ending balance	-26,347,000	-39,643,000	-26,347,000	-39,643,000
Impairment charge for investments which were determined to be other-than-temporary	1,500,000	6,600,000	4,400,000	12,500,000
Net unrealized gains on available-for-sale securities	'	'	'	'
Components of changes in accumulated other comprehensive income (loss)	'	'	'	'
Beginning balance	21,678,000	22,997,000	23,567,000	17,472,000
Other comprehensive (loss) income before reclassifications	-2,311,000	-12,121,000	-2,614,000	-9,709,000
Amounts reclassified from accumulated other comprehensive loss	-1,053,000	5,781,000	-2,639,000	8,894,000
Net current-period other comprehensive (loss) income	-3,364,000	-6,340,000	-5,253,000	-815,000
Ending balance	18,314,000	16,657,000	18,314,000	16,657,000
Net unrealized losses on cash flow hedges	'	'	'	'
Components of changes in accumulated other comprehensive income (loss)	'	'	'	'
Beginning balance	-43,050,000	-76,540,000	-39,219,000	-87,698,000
Other comprehensive (loss) income before reclassifications	-1,611,000	20,240,000	-5,442,000	31,398,000
Net current-period other comprehensive (loss) income	-1,611,000	20,240,000	-5,442,000	31,398,000
Ending balance	($44,661,000)	($56,300,000)	($44,661,000)	($56,300,000)

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (Successor Company, USD $)	Jul. 31, 2014	Jul. 31, 2014	Jun. 27, 2014
In Millions, except Per Share data, unless otherwise specified	Subsequent Event	Subsequent Event	Series A LLC Preferred Shares
	KKR&Co.	KKR & Co.
Subsequent events	'	'	'
Cash distribution declared (in dollars per share)	'	'	$0.46
Aggregate value of private equity, natural resources assets and cash distributed to Parent	$294.60	'	'
Amount of cash, subordinated notes and specialty lending assets contributed by parent	'	$294.60	'