KKR Financial 10-Q 14 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	7-May-15
Document and Entity Information
Entity Registrant Name	KKR Financial Holdings LLC
Entity Central Index Key	1386926
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		100

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Assets
Cash and cash equivalents	$242,557	$163,405
Restricted cash and cash equivalents	506,036	447,507
Securities, at estimated fair value	592,270	638,605
Corporate loans, at estimated fair value	6,031,524	6,506,564
Equity investments, at estimated fair value ($86,047 and $61,543 pledged as collateral as of March 31, 2015 and December 31, 2014, respectively)	201,593	181,378
Oil and gas properties, net	119,272	120,274
Interests in joint ventures and partnerships, at estimated fair value	719,290	718,772
Derivative assets	72,867	33,566
Interest and principal receivable	67,226	54,598
Receivable for investments sold	129,833	57,306
Other assets	44,696	29,650
Total assets	8,727,164	8,951,625
Liabilities
Collateralized loan obligation secured notes, at estimated fair value	5,255,834	5,501,099
Collateralized loan obligation warehouse facility	50,000	0
Senior notes	414,152	414,524
Junior subordinated notes	247,320	246,907
Payable for investments purchased	253,701	206,221
Accounts payable, accrued expenses and other liabilities	36,105	14,893
Accrued interest payable	27,298	19,402
Related party payable	7,538	5,404
Derivative liabilities	55,562	55,127
Total liabilities	6,347,510	6,463,577
Equity
Preferred shares, no par value, 50,000,000 shares authorized and 14,950,000 issued and outstanding as of both March 31, 2015 and December 31, 2014	0	0
Common shares, no par value, 500,000,000 shares authorized and 100 shares issued and outstanding as of both March 31, 2015 and December 31, 2014	0	0
Paid-in-capital	2,764,061	2,764,061
Accumulated deficit	-480,588	-376,182
Total KKR Financial Holdings LLC and Subsidiaries shareholders’ equity	2,283,473	2,387,879
Noncontrolling interests	96,181	100,169
Total equity	2,379,654	2,488,048
Total liabilities and equity	$8,727,164	$8,951,625

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Share data, unless otherwise specified
Statement of Financial Position [Abstract]
Equity investments, at estimated fair value, pledged as collateral (in dollars)	$86,047	$61,543
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	100
Common shares, shares outstanding	100	100

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Successor Company
Revenues
Loan interest income	$75,328
Securities interest income	15,591
Oil and gas revenue	2,828
Other	4,039
Total revenues	97,786
Investment costs and expenses
Interest expense	55,845
Oil and gas production costs	-48
Oil and gas depreciation, depletion and amortization	1,002
Other	854
Total investment costs and expenses	57,653
Other income (loss)
Net realized and unrealized gain (loss) on investments	19,899
Net realized and unrealized gain (loss) on derivatives and foreign exchange	-9,100
Net realized and unrealized gain (loss) on debt	-83,816
Other income (loss)	3,853
Total other income (loss)	-69,164
Other expenses
Related party management compensation	10,220
General, administrative and directors' expenses	5,812
Professional services	1,136
Total other expenses	17,168
Income (loss) before income taxes	-46,199
Income tax expense (benefit)	347
Net income (loss)	-46,546
Net income (loss) attributable to noncontrolling interests	-6,071
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries	-40,475
Preferred share distributions	6,891
Net income (loss) available to common shares	-47,366
Predecessor Company
Revenues
Loan interest income		84,294
Securities interest income		9,601
Oil and gas revenue		44,028
Other		2,667
Total revenues		140,590
Investment costs and expenses
Interest expense		47,245
Oil and gas production costs		10,834
Oil and gas depreciation, depletion and amortization		15,542
Other		149
Total investment costs and expenses		73,770
Other income (loss)
Net realized and unrealized gain (loss) on investments		77,764
Net realized and unrealized gain (loss) on derivatives and foreign exchange		-8,370
Net realized and unrealized gain (loss) on debt		0
Other income (loss)		3,446
Total other income (loss)		72,840
Other expenses
Related party management compensation		25,617
General, administrative and directors' expenses		3,903
Professional services		1,938
Total other expenses		31,458
Income (loss) before income taxes		108,202
Income tax expense (benefit)		19
Net income (loss)		108,183
Net income (loss) attributable to noncontrolling interests		0
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries		108,183
Preferred share distributions		6,891
Net income (loss) available to common shares		$101,292
Net income (loss) per common share:
Basic (in dollars per share)		$0.49
Diluted (in dollars per share)		$0.49
Weighted-average number of common shares outstanding:
Basic (in shares)		204,236
Diluted (in shares)		204,236

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Successor Company
Net income (loss)	($46,546)
Other comprehensive income (loss):
Unrealized gains (losses) on securities available-for-sale	0
Unrealized gains (losses) on cash flow hedges	0
Total other comprehensive income (loss)	0
Comprehensive income (loss)	-46,546
Less: Comprehensive income (loss) attributable to noncontrolling interests	0
Comprehensive income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries	-46,546
Predecessor Company
Net income (loss)		108,183
Other comprehensive income (loss):
Unrealized gains (losses) on securities available-for-sale		-1,889
Unrealized gains (losses) on cash flow hedges		-3,831
Total other comprehensive income (loss)		-5,720
Comprehensive income (loss)		102,463
Less: Comprehensive income (loss) attributable to noncontrolling interests		0
Comprehensive income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries		$102,463

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Changes in Shareholders' Equity (USD $)	Total	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company	Successor Company
In Thousands, except Share data, unless otherwise specified	USD ($)	USD ($)	Preferred Shares	Preferred Shares Paid-In Capital	Common Shares	Common Shares Paid-In Capital	Accumulated Deficit	Noncontrolling interests
				USD ($)		USD ($)	USD ($)	USD ($)
Balance at January 1, 2015 at Dec. 31, 2014	$2,488,048	$2,488,048		$378,983		$2,385,078	($376,182)	$100,169
Balance (in shares) at Dec. 31, 2014			14,950,000		100
Increase (Decrease) in Shareholders' Equity
Cumulative effect adjustment from adoption of accounting guidance		-1,877					-1,877
Contribution of assets of previously unconsolidated entities		2,083						2,083
Net income (loss)		-46,546					-40,475	-6,071
Distributions declared on preferred shares		-6,891					-6,891
Distributions to Parent		-55,163					-55,163
Net income (loss)		-40,475
Balance at March 31, 2015 at Mar. 31, 2015	$2,379,654	$2,379,654		$378,983		$2,385,078	($480,588)	$96,181
Balance (in shares) at Mar. 31, 2015			14,950,000		100

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from financing activities
Cash and cash equivalents at end of period	$242,557
Successor Company
Net income (loss)	-46,546
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Net realized and unrealized (gain) loss on derivatives and foreign exchange	9,100
Unrealized (depreciation) appreciation on investments allocable to noncontrolling interests	-6,071
Write-off of debt issuance costs	0
Lower of cost or estimated fair value adjustment on corporate loans held for sale	0
Impairment charges	0
Share-based compensation	0
Net realized and unrealized (gain) loss on investments	-13,828
Depreciation and net amortization	5,707
Net realized and unrealized (gain) loss on debt	83,816
Changes in assets and liabilities:
Interest receivable	10,695
Other assets	-29,189
Related party payable	2,134
Accounts payable, accrued expenses and other liabilities	25,160
Accrued interest payable	7,896
Net cash provided by (used in) operating activities	48,874
Cash flows from investing activities
Principal payments from corporate loans	233,002
Principal payments from securities	3,191
Proceeds from sales of corporate loans	550,568
Proceeds from sales of securities	38,262
Proceeds from equity and other investments	6,142
Purchases of corporate loans	-352,743
Purchases of securities	0
Purchases of equity and other investments	-35,407
Net change in proceeds, purchases, and settlements of derivatives	-5,960
Net change in restricted cash and cash equivalents	-58,529
Net cash provided by (used in) investing activities	378,526
Cash flows from financing activities
Issuance of collateralized loan obligation secured notes	0
Retirement of collateralized loan obligation secured notes	-338,197
Proceeds of collateralized loan obligation warehouse facility	50,000
Repayment of credit facilities	0
Distributions on common shares	-55,163
Distributions on preferred shares	-6,891
Capital contributions noncontrolling interests	2,083
Other capitalized costs	-80
Net cash (used in) provided by financing activities	-348,248
Net increase (decrease) in cash and cash equivalents	79,152
Cash and cash equivalents at beginning of period	163,405
Cash and cash equivalents at end of period	242,557
Supplemental cash flow information
Cash paid for interest	36,364
Net cash paid (refunded) for income taxes	12
Non-cash investing and financing activities
Preferred share distributions declared, not yet paid	6,891
Loans transferred from held for investment to held for sale	0
Predecessor Company
Net income (loss)		108,183
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Net realized and unrealized (gain) loss on derivatives and foreign exchange		8,370
Unrealized (depreciation) appreciation on investments allocable to noncontrolling interests		0
Write-off of debt issuance costs		296
Lower of cost or estimated fair value adjustment on corporate loans held for sale		-8,351
Impairment charges		2,928
Share-based compensation		841
Net realized and unrealized (gain) loss on investments		-72,341
Depreciation and net amortization		12,324
Net realized and unrealized (gain) loss on debt		0
Changes in assets and liabilities:
Interest receivable		-3,609
Other assets		-7,245
Related party payable		12,444
Accounts payable, accrued expenses and other liabilities		-14,781
Accrued interest payable		-1,677
Net cash provided by (used in) operating activities		37,382
Cash flows from investing activities
Principal payments from corporate loans		606,835
Principal payments from securities		20,197
Proceeds from sales of corporate loans		15,235
Proceeds from sales of securities		14,602
Proceeds from equity and other investments		42,464
Purchases of corporate loans		-403,502
Purchases of securities		-62,211
Purchases of equity and other investments		-81,458
Net change in proceeds, purchases, and settlements of derivatives		-5,993
Net change in restricted cash and cash equivalents		-485,275
Net cash provided by (used in) investing activities		-339,106
Cash flows from financing activities
Issuance of collateralized loan obligation secured notes		515,354
Retirement of collateralized loan obligation secured notes		-54,449
Proceeds of collateralized loan obligation warehouse facility		0
Repayment of credit facilities		-75,400
Distributions on common shares		-45,061
Distributions on preferred shares		-6,891
Capital contributions noncontrolling interests		0
Other capitalized costs		-3,923
Net cash (used in) provided by financing activities		329,630
Net increase (decrease) in cash and cash equivalents		27,906
Cash and cash equivalents at beginning of period		157,167
Cash and cash equivalents at end of period		185,073
Supplemental cash flow information
Cash paid for interest		40,542
Net cash paid (refunded) for income taxes		23
Non-cash investing and financing activities
Preferred share distributions declared, not yet paid		0
Loans transferred from held for investment to held for sale		$238,115

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION
	KKR Financial Holdings LLC together with its subsidiaries (the “Company” or “KFN”) is a specialty finance company with expertise in a range of asset classes. The Company’s core business strategy is to leverage the proprietary resources of KKR Financial Advisors LLC (the “Manager”) with the objective of generating current income. The Company’s holdings primarily consist of below investment grade syndicated corporate loans, also known as leveraged loans, high yield debt securities, interests in joint ventures and partnerships, and royalty interests in oil and gas properties. The corporate loans that the Company holds are typically purchased via assignment or participation in the primary or secondary market.
	The majority of the Company’s holdings consist of corporate loans and high yield debt securities held in collateralized loan obligation (“CLO”) transactions that are structured as on‑balance sheet securitizations and are used as long term financing for the Company’s investments in corporate debt. The senior secured debt issued by the CLO transactions is primarily 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 Credit Advisors (US) LLC, manages the Company pursuant to an amended and restated management agreement (as amended the “Management Agreement”). KKR Credit Advisors (US) LLC is a wholly‑owned subsidiary of Kohlberg Kravis Roberts & Co. L.P. (“KKR”), which is a subsidiary of KKR & Co. L.P. (“KKR & Co.”).
	On April 30, 2014, the Company became a subsidiary of KKR & Co., whereby KKR & Co. acquired all of the Company’s outstanding common shares through an exchange of equity through which the Company’s shareholders received 0.51 common units representing the limited partnership interests of KKR & Co. for each common share of KFN (the “Merger Transaction”). Following the Merger Transaction, KKR Fund Holdings L.P. (“KKR Fund Holdings”), a subsidiary of KKR & Co., became the sole holder of all of the outstanding common shares of the Company and is the parent of the Company (the “Parent”).
	As of the close of trading on April 30, 2014, the Company’s common shares were delisted on the New York Stock Exchange (“NYSE”). The Company’s 7.375% Series A LLC Preferred Shares (“Series A LLC Preferred Shares”), senior notes and junior subordinated notes remain outstanding and the Company continues to file periodic reports under the Securities Exchange Act of 1934, as amended.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	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. Also included in the condensed consolidated financial statements are the financial results of certain entities, which are not considered VIEs, but in which the Company is presumed to have control. The ownership interests held by third parties are reflected as noncontrolling interests in the accompanying financial statements.
	As further described in Note 3 to these 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 equity section of the Company’s condensed consolidated financial statements. Accordingly, the Company’s accumulated deficit at March 31, 2015 and December 31, 2014 represents only the results of operations subsequent to April 30, 2014, the date of the Merger Transaction.
	For the following assets not carried at fair value, as presented under the Predecessor Company, the Company adopted the fair value option of accounting as of the Effective Date: (i) corporate loans held for investment at amortized cost, net of an allowance for loan losses, (ii) corporate loans held for sale at lower of cost or estimated fair value and (iii) certain other investments at cost. In addition, the Company elected the fair value option of accounting for its CLO 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 initial fair value presentation was a result of the push down basis of accounting, while the prospective fair value presentation was for the primary purpose of reporting values more closely aligned with KKR & Co.’s method of accounting.
	In August 2014, the Financial Accounting Standards Board ("FASB") amended existing standards to provide an entity that consolidates a collateralized financing entity (“CFE”) that had elected the fair value option for the financial assets and financial liabilities of such CFE, an alternative to current fair value measurement guidance. In accordance with this guidance, beginning January 1, 2015, the Company elected to measure the financial liabilities of its consolidated CLOs using the fair value of the financial assets of its consolidated CLOs, which was determined to be more observable. Refer to "Borrowings" below for further discussion. The Company applied the guidance using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of January 1, 2015 totaling $1.9 million.
	Unrealized gains and losses for the financial assets and liabilities carried at estimated fair value are reported in net realized and unrealized gain (loss) on investments and net realized and unrealized gain (loss) on debt, respectively, in the 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.
	Consolidation
	KKR Financial CLO 2005‑1, Ltd. (“CLO 2005‑1”), KKR Financial CLO 2005‑2, Ltd. (“CLO 2005‑2”), KKR Financial CLO 2007‑1, Ltd. (“CLO 2007‑ 1”), KKR Financial CLO 2007‑A, Ltd. (“CLO 2007‑A”), KKR Financial CLO 2011‑1, Ltd. (“CLO 2011‑1”), KKR Financial CLO 2012‑ 1, Ltd. (“CLO 2012‑1”), KKR Financial CLO 2013‑1, Ltd. (“CLO 2013‑1”), KKR Financial CLO 2013‑2, Ltd. (“CLO 2013‑2”), KKR CLO 9, Ltd. (“CLO 9”) and KKR CLO 10, Ltd. (“CLO 10”) (collectively the “Cash Flow CLOs”) are entities established to complete secured financing transactions. During February 2015, the Company called KKR Financial CLO 2006-1, Ltd ("CLO 2006-1") and repaid all senior and mezzanine notes outstanding. 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 March 31, 2015, the Company’s CLOs held $6.0 billion par amount, or $5.8 billion estimated fair value, of corporate debt investments. As of December 31, 2014, the Company's CLOs held $6.9 billion par amount, or $6.5 billion estimated fair value, of corporate debt investments. The assets in each CLO can be used only to settle the debt of the related CLO. As of March 31, 2015 and December 31, 2014, the aggregate par amount of CLO debt totaled $5.2 billion and $5.5 billion, respectively, held by unaffiliated third parties.
	The Company consolidates all non‑VIEs in which it holds a greater than 50 percent voting interest. Specifically, the Company consolidates majority owned entities for which the Company is presumed to have control. The ownership interests of these entities held by third parties are reflected as noncontrolling interests in the accompanying financial statements. The Company began consolidating a majority of these non‑VIE entities as a result of the asset contributions from its Parent during the second half of 2014. For certain of these entities, the Company previously held a percentage ownership, but following the incremental contributions from its Parent, were presumed to have control.
	In addition, the Company has noncontrolling interests in joint ventures and partnerships that do not qualify as VIEs and do not meet the control requirements for consolidation as defined by GAAP.
	All inter‑company balances and transactions have been eliminated in consolidation.
	Fair Value Option
	In connection with the application of acquisition accounting related to the Merger Transaction, the Successor Company elected the fair value option of accounting for its financial assets and CLO secured notes for the primary purpose of reporting values that more closely aligned with KKR & Co.’s method of accounting. Related unrealized gains and losses are reported in net realized and unrealized gain (loss) on investments in the condensed consolidated statements of operations.
	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 and Interests in Joint Ventures and Partnerships, at Estimated Fair Value: Equity and interests in joint ventures and partnerships, at estimated fair value, are initially valued at transaction price and are subsequently valued using observable market prices, if available, or internally developed models in the absence of readily observable market prices. Interests in joint ventures and partnerships include certain equity investments related to the oil and gas, commercial real estate and specialty lending sectors. Valuation models are generally based on market comparables and discounted cash flow approaches, in which various internal and external factors are considered. Factors include key financial inputs and recent public and private transactions for comparable investments. Key inputs used for the discounted cash flow approach, which incorporates significant assumptions and judgment, include the weighted average cost of capital and assumed inputs used to calculate terminal values, such as earnings before interest, taxes, depreciation and amortization (“EBITDA”) exit multiples. Natural resources investments are generally valued using a discounted cash flow analysis. Key inputs used in this methodology that require estimates include the weighted average cost of capital. In addition, the valuations of natural resources investments generally incorporate both commodity prices as quoted on indices and long‑term commodity price forecasts, which may be substantially different from, and are currently higher than, commodity prices on certain indices for equivalent future dates. Long‑term commodity price forecasts are utilized to capture the value of the investments across a range of commodity prices within the portfolio associated with future development and to reflect price expectations.
	Upon completion of the valuations conducted using these approaches, a weighting is ascribed to each approach and an illiquidity discount is applied where appropriate. The ultimate fair value recorded for a particular investment will generally be within the range suggested by the two approaches.
	Over-the-counter (“OTC”) Derivative Contracts: OTC derivative contracts may 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: As of January 1, 2015, the Company adopted the measurement alternative issued by the FASB whereby the financial liabilities of its consolidated CLOs were measured using the fair value of the financial assets of its consolidated CLOs, which was determined to be more observable. The Company considered the fair value of these financial assets, which were classified as Level 2 assets, as more observable than the fair value of these financial liabilities, which were classified as Level 3 liabilities. As a result of this new basis of measurement, the Company's CLO secured notes were transferred from Level 3 to Level 2 during the first quarter of 2015.
	Prior to this adoption, CLO secured notes were initially valued at transaction price and subsequently valued using a third party valuation servicer. The approach used to estimate the fair values was the discounted cash flow method, which included consideration of the cash flows of the debt obligation based on projected quarterly interest payments and quarterly amortization. The debt obligations were discounted based on the appropriate yield curve given the debt obligation's respective maturity and credit rating. The most significant inputs to the valuation of these instruments were 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 10 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
	Investments are generally valued based on quotations from third party pricing services, unless such a quotation is unavailable or is determined to be unreliable or inadequately representing the fair value of the particular assets. In that case, valuations are based on either valuation data obtained from one or more other third party pricing sources, including broker dealers, or will reflect the valuation committee’s good faith determination of estimated fair value based on other factors considered relevant. The Company utilizes a valuation committee, whose members consist of certain employees of the Manager. The valuation committee is responsible for coordinating and implementing the Company’s quarterly valuation process.
	The valuation process involved in Level 3 measurements for assets and liabilities is completed on a quarterly basis and is designed to subject the valuation of Level 3 investments to an appropriate level of consistency, oversight and review. For assets classified as Level 3, valuations may be performed by the relevant investment professionals or by independent third parties with input from the relevant investment professionals and are based on various factors including evaluation of financial and operating data, company specific developments, market discount rates and valuations of comparable companies and model projections. Asset valuations are approved by the valuation committee, which may be assisted by a subcommittee for the valuation of natural resources investments.
	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 would have been 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 noncontrolling interests in joint ventures and partnerships for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these interests. Interests in joint ventures and partnerships are presented separately on the condensed consolidated balance sheets.
	Equity Method Investments
	The Company holds certain investments where the Company does not control the investee and where the Company is not the primary beneficiary, but can exert significant influence over the financial and operating policies of the investee. Significant influence typically exists if the Company has a 20% to 50% ownership interest in the investee unless predominant evidence to the contrary exists. The evaluation of whether the Company exerts control or significant influence over the financial and operational policies of an investee may also require significant judgment based on the facts and circumstances surrounding each individual investment. Factors include investor voting or other rights, any influence the Company may have on the governing board of the investee and the relationship between the Company and other investors in the entity. The Company elected the fair value option to account for these equity investments with any changes in estimated fair value recorded in net realized and unrealized gain (loss) on investments in the condensed consolidated statements of operations.
	Corporate Loans, Net
	In connection with the Company’s application of acquisition accounting related to the Merger Transaction and to align more closely with KKR & Co.’s method of accounting, the Company elected to carry all of its corporate loans at estimated fair value as of the Effective Date, with changes in estimated fair value recorded in net realized and unrealized (loss) gain 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 6 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 Gas Revenue Recognition
Oil, natural gas and natural gas liquid (“NGL”) revenues are recognized when production is sold to a purchaser at fixed or determinable prices, when delivery has occurred and title has transferred and collectability of the revenue is reasonably assured. The Company follows the sales method of accounting for natural gas revenues. Under this method of accounting, revenues are recognized based on volumes sold, which may differ from the volume to which the Company is entitled based on the Company’s working interest. An imbalance is recognized as a liability only when the estimated remaining reserves will not be sufficient to enable the under‑produced owners to recoup their entitled share through future production. Under the sales method, no receivables are recorded when the Company has taken less than its share of production and no payables are recorded when the Company has taken more than its share of production.
Long‑Lived Assets
Whenever events or changes in circumstances indicate that the carrying amounts of such properties may not be recoverable, the Company evaluates its proved oil and natural gas properties and related equipment and facilities for impairment on a field‑by‑field basis. The determination of recoverability is made based upon estimated undiscounted future net cash flows. The amount of impairment loss, if any, is determined by comparing the fair value, as determined by a discounted cash flow analysis, with the carrying value of the related asset. The factors used to determine fair value may include, but are not limited to, estimates of proved reserves, future commodity pricing, future production estimates, anticipated capital expenditures, future operating costs and a discount rate commensurate with the risk on the properties and cost of capital. Unproved oil and natural gas properties were assessed periodically and, at a minimum, annually on a property‑by‑property basis, and any impairment in value was recognized when incurred. As a result of certain transactions during the third quarter of 2014, the Company no longer has any unproved oil and natural gas properties, as further described in Note 6 to these condensed consolidated financial statements.
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. 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 CLO secured notes at estimated fair value as of the Effective Date, with changes in estimated fair value recorded in net realized and unrealized gain (loss) on debt in the condensed consolidated statements of operations. Prior to the Effective Date, the Company's CLO secured notes were carried at amortized cost.
As mentioned above, beginning January 1, 2015, the Company adopted the measurement alternative issued by the FASB whereby the financial liabilities of its consolidated CLOs were measured using the fair value of the financial assets of its consolidated CLOs, which was determined to be more observable. Accordingly, these financial assets were measured at fair value and these financial liabilities were measured as (i) the sum of the fair value of the financial assets and the carrying value of any nonfinancial assets that are incidental to the operations of the CLOs less, (ii) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services. The resulting amount was allocated to the individual financial liabilities (other than the beneficial interests retained by the Company) using a reasonable and consistent methodology.
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 gain (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 gain (loss) 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 gain (loss) on derivatives and foreign exchange on the condensed consolidated statements of operations.
Noncontrolling Interests
Noncontrolling interests represent noncontrolling interests in condensed consolidated entities held by third party investors. Income (loss) is allocated to noncontrolling interests based on the relative ownership interests of third party investors and is presented as net income (loss) attributable to noncontrolling interests on the condensed consolidated statements of operations. Noncontrolling interests are also presented separately within equity in the condensed consolidated balance sheets.
Manager Compensation
The Management Agreement provides for the payment of a base management fee to the Manager, as well as an incentive fee if the Company’s financial performance exceeds certain benchmarks. Additionally, the Management Agreement provides for the Manager to be reimbursed for certain expenses incurred on the Company’s behalf. The base management fee and the incentive fee are accrued and expensed during the period for which they are earned by the Manager.
Income Taxes
The Company intends to continue to operate so as to qualify, for United States federal income tax purposes, as a partnership and not as an association or publicly traded partnership taxable as a corporation. Therefore, the Company generally is not subject to United States federal income tax at the entity level, but is subject to limited state and foreign taxes. Holders of the Company’s Series A LLC Preferred Shares will be allocated a share of the Company’s gross ordinary income for the taxable year of the Company ending within or with their taxable year. Holders of the Company’s Series A LLC Preferred Shares will not be allocated any gains or losses from the sale of the Company’s assets.
The Company owns equity interests in entities that have elected or intend to elect to be taxed as a real estate investment trust (a “REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). A REIT generally is not subject to United States federal income tax to the extent that it currently distributes its income and satisfies certain asset, income and ownership tests, and recordkeeping requirements, but it may be subject to some amount of federal, state, local and foreign taxes based on its taxable income.
The Company has wholly‑owned domestic and foreign subsidiaries that are taxable as corporations for United States federal income tax purposes and thus are not consolidated with the Company for United States federal income tax purposes. For financial reporting purposes, current and deferred taxes are provided for on the portion of earnings recognized by the Company with respect to its interest in the domestic taxable corporate subsidiaries, because each is taxed as a regular corporation under the Code. Deferred income tax assets and liabilities are computed based on temporary differences between the GAAP consolidated financial statements and the United States federal income tax basis of assets and liabilities as of each consolidated balance sheet date. The foreign corporate subsidiaries were formed to make certain foreign and domestic investments from time to time. The foreign corporate subsidiaries are organized as exempted companies incorporated with limited liability under the laws of the Cayman Islands, and are anticipated to be exempt from United States federal and state income tax at the corporate entity level because they restrict their activities in the United States to trading in stock and securities for their own account. However, the Company will be required to include their current taxable income in the Company’s calculation of its gross ordinary income allocable to holders of its Series A LLC Preferred Shares.
The Company must recognize the tax impact from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax impact recognized in the financial statements from such a position is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. Penalties and interest related to uncertain tax positions are recorded as tax expense. Significant judgment is required in the identification of uncertain tax positions and in the estimation of penalties and interest on uncertain tax positions. If it is determined that recognition for an uncertain tax provision is necessary, the Company would record a liability for an unrecognized tax expense from an uncertain tax position taken or expected to be taken.
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.
Earnings Per Common Share
In connection with the Merger Transaction, as of the Effective Date, the Company is now a subsidiary of KKR Fund Holdings, a subsidiary of KKR & Co., which owns 100 common shares of the Company constituting all of the Company’s outstanding common shares. As KKR Fund Holdings is the Company’s sole shareholder, earnings per common share is not reported for the Successor Company. Prior to the Effective Date, the Company presented both basic and diluted earnings per common share (‘‘EPS’’) in its consolidated financial statements and footnotes thereto. Basic earnings per common share (‘‘Basic EPS’’) excluded dilution and was computed by dividing net income or loss available to common shareholders by the weighted average number of common shares, including vested restricted common shares, outstanding for the period. The Company calculated EPS using the more dilutive of the two-class method or the if-converted method. The two-class method was an earnings allocation formula that determined EPS for common shares and participating securities. Unvested share-based
payment awards that contained non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) were participating securities and were included in the computation of EPS using the two-class method. Accordingly, all earnings (distributed and undistributed) were allocated to common shares, preferred shares and participating securities based on their respective rights to receive dividends. Diluted earnings per common share (‘‘Diluted EPS’’) reflected the potential dilution of
common share options and unvested restricted common shares using the treasury method or if-converted method.

MERGER_TRANSACTION

MERGER TRANSACTION	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
MERGER TRANSACTION	MERGER TRANSACTION
	On December 16, 2013, the Company announced the signing of a definitive merger agreement pursuant to which KKR & Co. had agreed to acquire all of the Company’s outstanding common shares through an exchange of equity through which the Company’s shareholders would receive 0.51 common units representing the limited partnership interests of KKR & Co. for each common share of KFN. On April 30, 2014, the date of the Merger Transaction, the transaction was approved by the Company’s common shareholders and the merger was completed, resulting in KFN becoming a subsidiary of KKR & Co. The merger was a taxable transaction for the Company’s common shareholders for U.S. federal income tax purposes.
	Pursuant to the merger agreement, on the date of the Merger Transaction, (i) each outstanding option to purchase a KFN common share was cancelled, as the exercise price per share applicable to all outstanding options exceeded the cash value of the number of KKR & Co. common units that a holder of one KFN common share is entitled to in the merger, (ii) each outstanding restricted KFN common share (other than those held by the Manager) was converted into 0.51 KKR & Co. common units having the same terms and conditions as applied immediately prior to the effective time, and (iii) each phantom share under KFN’s Non‑Employee Directors’ Deferred Compensation and Share Award Plan was converted into a phantom share in respect of 0.51 KKR & Co. common units and otherwise remains subject to the terms of the plan.
	The Merger Transaction was recorded under the acquisition method of accounting by KKR & Co. and pushed down to the Company by allocating the total purchase consideration of $2.4 billion to the cost of the assets purchased and the liabilities assumed based on their estimated fair values at the date of the Merger Transaction. The excess of the total estimated fair values of the assets acquired and liabilities assumed over the purchase price and value of the preferred shares, which constitute noncontrolling interests in the Company, was recorded as a bargain purchase gain by KKR & Co.
	In connection with the Merger Transaction, the Company recognized approximately $24.2 million of total transaction costs. Of this total, $22.7 million was recorded during the four months ended April 30, 2014 within general, administrative and directors’ expenses on the 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 noncontrolling interests in the Company. This difference was recorded as an adjustment to the Company’s additional paid‑in‑capital as of the Effective Date.
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The estimated fair values of assets acquired and liabilities assumed were primarily based on information that was available as of the Merger Transaction date. The methodology used to estimate the fair values to apply purchase accounting are summarized below.
	The carrying values of cash, restricted cash, interest and principal receivable, credit facilities, accounts payable, accrued expenses and other liabilities, and accrued interest payable represented the fair values. Fair value measurements for financial instruments and other assets included (i) market data for similar instruments (e.g. recent transactions or broker quotes), comparisons to benchmark derivative indices or valuation models for corporate loans and securities, (ii) third party valuation servicers for residential mortgage‑backed securities, (iii) observable market prices, if available, or internally developed models, for equity investments, oil and gas properties, interests in joint ventures and partnerships, and (iv) quoted market prices, if available, or models using a series of techniques for derivative assets and liabilities. The fair value measurements for the liabilities assumed included (i) third party valuation servicers for the collateralized loan obligation secured notes and junior subordinated notes and (ii) observable market prices for the senior notes.

SECURITIES

SECURITIES	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
SECURITIES	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 March 31, 2015 and December 31, 2014, which are carried at estimated fair value (amounts in thousands):
		31-Mar-15							31-Dec-14
		Par			Amortized Cost		Estimated		Par		Amortized Cost		Estimated
							Fair Value						Fair Value
	Securities, at estimated fair value	$	670,121		$	606,385	$	592,270	$	721,094	$	654,257	$	638,605
	Total	$	670,121		$	606,385	$	592,270	$	721,094	$	654,257	$	638,605
	Net Realized and Unrealized Gains (Losses)
	Realized gains or losses are measured by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the asset without regard to unrealized gains or losses previously recognized. Unrealized gains or losses are computed as the difference between the estimated fair value of the asset and the amortized cost basis of such asset. Unrealized gains or losses primarily reflect the change in asset values, including the reversal of previously recorded unrealized gains or losses when gains or losses are realized. The following table presents the Company’s realized and unrealized gains (losses) from securities for the three months ended March 31, 2015 (amounts in thousands):
		Three months ended March 31, 2015
	Net realized gains (losses)	$	(526	)
	Net decrease in unrealized losses	1,834
	Net realized and unrealized gains (losses)	$	1,308
	Defaulted Securities
	As of March 31, 2015, the Company had a corporate debt security from one issuer in default with an estimated fair value of $6.9 million, which was on non-accrual status. As of December 31, 2014, the Company had a corporate debt security from one issuer in default with an estimated fair value of $8.7 million, which was on non-accrual status.
	Concentration Risk
	The Company’s corporate debt securities portfolio has certain credit risk concentrated in a limited number of issuers. As of March 31, 2015, approximately 73% of the estimated fair value of the Company’s corporate debt securities portfolio was concentrated in ten issuers, with the three largest concentrations of debt securities in securities issued by Preferred Proppants LLC, LCI Helicopters Limited and JC Penney Corp. Inc, which combined represented $219.1 million, or approximately 41% of the estimated fair value of the Company’s corporate debt securities. As of December 31, 2014, approximately 70% of the estimated fair value of the Company’s corporate debt securities portfolio was concentrated in ten issuers, with the three largest concentrations of debt securities in securities issued by Preferred Proppants LLC, JC Penney Corp. Inc, and LCI Helicopters Limited, which combined represented $213.6 million, or approximately 37% of the estimated fair value of the Company’s corporate debt securities.
	Pledged Assets
	Note 8 to these 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 March 31, 2015 and December 31, 2014 (amounts in thousands):
		31-Mar-15			31-Dec-14
	Pledged as collateral for collateralized loan obligation secured debt	$	227,818		$	262,085
	Total	$	227,818		$	262,085
	Predecessor Company
	Under the Predecessor Company, the majority of unrealized losses 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 that were determined to be temporarily impaired, the Company did not intend to sell or believed 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 these securities available-for-sale.
	During the three months ended March 31, 2014, the Company recognized losses totaling $2.9 million 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. There were no realized gains or losses on the sales of securities available-for-sale for the three months ended March 31, 2014.
	Troubled Debt Restructurings
	As discussed above in Note 2 to these condensed consolidated financial statements, beginning the Effective Date, the Company accounted 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 three months ended March 31, 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.
	As of March 31, 2014, no securities modified as TDRs were in default within a twelve month period subsequent to their original restructuring.

CORPORATE_LOANS_AND_ALLOWANCE_

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES	3 Months Ended
	Mar. 31, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES	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 March 31, 2015 and December 31, 2014 (amounts in thousands):
		31-Mar-15										31-Dec-14
		Par				Amortized Cost				Estimated		Par		Amortized		Estimated
										Fair Value				Cost		Fair Value
	Corporate loans, at estimated fair value	$	6,304,720			$	6,153,832			$	6,031,524	$	6,907,373	$	6,710,570	$	6,506,564
	Total	$	6,304,720			$	6,153,832			$	6,031,524	$	6,907,373	$	6,710,570	$	6,506,564
	Net Realized and Unrealized Gains (Losses)
	Realized gains or losses are measured by the difference between the net proceeds from the repayment or sale and the amortized cost basis of the asset without regard to unrealized gains or losses previously recognized. Unrealized gains or losses are computed as the difference between the estimated fair value of the asset and the amortized cost basis of such asset. Unrealized gains or losses primarily reflect the change in asset values, including the reversal of previously recorded unrealized gains or losses when gains or losses are realized. The following tables present the Company’s realized and unrealized gains (losses) from corporate loans for the three months ended March 31, 2015 (amounts in thousands):
		Three Months Ended
		March 31, 2015
	Net realized gains (losses)	$	(16,182	)
	Net decrease in unrealized losses	82,274
	Net realized and unrealized gains (losses)	$	66,092
	Non-Accrual Loans
	A loan is considered past due if any required principal and interest payments have not been received as of the date such payments were required to be made under the terms of the loan agreement. A loan may be placed on non-accrual status regardless of whether or not such loan is considered past due. As of March 31, 2015, the Company held a total par value and estimated fair value of $452.9 million and $268.5 million, respectively, of non-accrual loans carried at estimated fair value. As of March 31, 2015, the Company held a total par value and estimated fair value of $410.2 million and $250.0 million, respectively, of 90 or more days past due loans carried at estimated fair value, all of which were on non-accrual status and in default as of March 31, 2015. As of December 31, 2014, the Company held a total par value and estimated fair value of $580.1 million and $342.1 million, respectively, of non-accrual loans. As of December 31, 2014, the Company held a total par value and estimated fair value of $410.2 million and $266.9 million, respectively, of 90 or more days past due loans, all of which were on non‑ accrual status and in default as of December 31, 2014.
	Defaulted Loans
	As of March 31, 2015, the Company held four corporate loans that were in default with a total estimated fair value of $250.0 million from two issuers. As of December 31, 2014, the Company held four corporate loans that were in default with a total estimated fair value of $266.9 million from two issuers.
	Concentration Risk
	The Company’s corporate loan portfolio has certain credit risk concentrated in a limited number of issuers. As of March 31, 2015 under the Successor Company where all corporate loans are carried at estimated fair value, approximately 36% of the total estimated fair value of the Company’s corporate loan portfolio was concentrated in twenty issuers, with the three largest concentrations of corporate loans in loans issued by U.S. Foods Inc., Texas Competitive Electric Holdings Company LLC (“TXU”) and First Data Corp., which combined represented $613.7 million, or approximately 10% of the aggregate estimated fair value of the Company’s corporate loans. As of December 31, 2014 under the Successor Company where all corporate loans are carried at estimated fair value, approximately 38% of the total estimated fair value of the Company’s corporate loan portfolio was concentrated in twenty issuers, with the three largest concentrations of corporate loans in loans issued by U.S. Foods Inc., TXU and First Data Corp., which combined represented $700.4 million, or approximately 11% of the aggregate estimated fair value of the Company’s corporate loans.
	Pledged Assets
	Note 8 to these 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, at estimated fair value, pledged as collateral as of March 31, 2015 and December 31, 2014 (amounts in thousands):
		31-Mar-15				31-Dec-14
	Pledged as collateral for collateralized loan obligation secured debt	$	5,564,728			$	6,205,292
	Total	$	5,564,728			$	6,205,292
	Predecessor Company
	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 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 three months ended March 31, 2014 (amounts in thousands):
			For the three months ended
			March 31, 2014
	Allowance for loan losses:
	Beginning balance		$	224,999
	Provision for loan losses		—
	Charge-offs		(1,458		)
	Ending balance		$	223,541
	The charge-offs recorded during the three months ended March 31, 2014 were comprised primarily of loans modified in TDRs.
	The following table summarizes the Company’s average recorded investment in impaired loans and interest income recognized for the three months ended March 31, 2014 (amounts in thousands):
		For the three months ended
		March 31, 2014
		Average				Interest
		Recorded				Income
		Investment(1)				Recognized
	With no related allowance recorded	$	—			$	—
	With an allowance recorded	476,011				3,543
	Total	$	476,011			$	3,543
	-1	Recorded investment is defined as amortized cost plus accrued interest.
	As of March 31, 2014, 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).
	For the three months ended March 31, 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 $4.2 million, which included $3.5 million for non-accrual loans that were held for investment, $0.6 million for non-accrual loans held for sale and $0.1 million for non-accrual loans carried at estimated fair value.
	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.
	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. During the three months ended March 31, 2014, the Company transferred $238.1 million amortized cost amount of loans from held for investment to held for sale. The transfers of certain loans to held for sale were due to the Company’s determination that credit quality of a loan in relation to its expected risk-adjusted return no longer met the Company’s investment objective and the determination by the Company to reduce or eliminate the exposure for certain loans as part of its portfolio risk management practices. During the three months ended March 31, 2014, 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 $8.4 million reduction to the lower of cost or estimated fair value adjustment for the three months ended March 31, 2014 for certain loans held for sale, which had a carrying value of $510.7 million as of March 31, 2014.
	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 March 31, 2014 totaled $80.3 million, related to four 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 6 months. As of March 31, 2014, $55.3 million of TDRs were included in non-accrual loans. As of March 31, 2014, 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 three months ended March 31, 2014 (dollar amounts in thousands):
		Three Months Ended
		March 31, 2014
		Number		Pre-modification				Post-modification
		of TDRs		outstanding recorded				outstanding recorded
				investment(1)				investment(1)(2)
	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.
During the three months ended March 31, 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 three months ended March 31, 2014.
As of March 31, 2014, there were no commitments to lend additional funds to the issuers whose loans had been modified in a TDR and no loans modified as TDRs were in default within a twelve month period subsequent to their original restructuring.
During the three months ended March 31, 2014, the Company modified $1.0 billion amortized cost of corporate loans that did not qualify as TDRs. These modifications involved changes in existing rates and maturities to prevailing market rates/maturities for similar instruments and did not qualify as TDRs as the respective borrowers were not experiencing financial difficulty or seeking (or granted) a concession as part of the modification. In addition, these modifications of non-troubled debt holdings were accomplished with modified loans that were not substantially different from the loans prior to modification.

NATURAL_RESOURCES_ASSETS

NATURAL RESOURCES ASSETS	3 Months Ended
	Mar. 31, 2015
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
NATURAL RESOURCES ASSETS	NATURAL RESOURCES ASSETS
	Natural Resources Properties
	As described in Note 2 to these condensed consolidated financial statements, as a result of the Merger Transaction and new accounting basis established for assets and liabilities, oil and gas properties were adjusted to reflect estimated fair value as of the Effective Date, but will continue to be carried at cost net of depreciation, depletion and amortization ("DD&A"). The following table summarizes the Company’s oil and gas properties as of March 31, 2015 and December 31, 2014 (amounts in thousands):
		As of			As of
		31-Mar-15			December 31, 2014
	Proved oil and natural gas properties (successful efforts method)	$	128,800		$	128,800
	Less: Accumulated depreciation, depletion and amortization	(9,528		)	(8,526		)
	Oil and gas properties, net	$	119,272		$	120,274
	On September 30, 2014, the Company closed a transaction whereby certain of the Company’s entities holding natural resources assets were merged with certain investment entities of funds advised by KKR and partnerships held by wholly owned subsidiaries of Legend Production Holdings, LLC, a majority owned subsidiary of Riverstone Holdings LLC and the Carlyle Group, to create a new oil and gas company called Trinity River Energy, LLC (“Trinity”). As of March 31, 2015, the Trinity asset, which was carried at estimated fair value, totaled $44.6 million and was classified as interests in joint ventures and partnerships, rather than oil and gas properties, net, on the Company’s condensed consolidated balance sheets.
	Development and Other Purchases
	The Company accounted for certain of its initial oil and natural gas properties as business combinations under the acquisition method of accounting, whereby the Company (i) conducted assessments of net assets acquired and recognized amounts for identifiable assets acquired and liabilities assumed at their estimated acquisition date fair values and (ii) expensed as incurred transaction and integration costs associated with the acquisitions. Separate from these acquisitions, the Company deployed capital to develop and purchase other interests and assets in the natural resources sector.
	During the third quarter of 2014, certain of the Company’s natural resources assets focused on development of oil and gas properties, with an approximate aggregate fair value of $179.2 million, were distributed to the Company’s Parent.
	During the first quarter of 2015 and 2014, the Company capitalized an additional zero and $41.0 million, respectively, as a result of purchasing natural resources assets or covering costs related to the development of oil and gas properties. Accordingly, these amounts were included in oil and gas properties, net on the condensed consolidated balance sheets.

EQUITY_METHOD_INVESTMENTS

EQUITY METHOD INVESTMENTS	3 Months Ended
	Mar. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
EQUITY METHOD INVESTMENTS	EQUITY METHOD INVESTMENTS
	The Company holds certain investments where the Company does not control the investee and where the Company is not the primary beneficiary, but can exert significant influence over the financial and operating policies of the investee. Significant influence typically exists if the Company has a 20% to 50% ownership interest in the investee unless predominant evidence to the contrary exists.
	Under the equity method of accounting, the Company records its proportionate share of net income or loss based on the investee’s financial results. Given that the Company elected the fair value option to account for these equity method investments, the Company’s share of the investee’s underlying net income or loss predominantly represents fair value adjustments in the investments. Changes in estimated fair value are recorded in net realized and unrealized gain (loss) on investments in the condensed consolidated statements of operations.
	Summarized Financial Information
	The following table shows summarized financial information for the Company’s equity method investment(s), which were reported under the fair value option of accounting and were determined to be significant as defined by accounting guidance, assuming 100% ownership for the three months ended March 31, 2015 and 2014 (amounts in thousands):
		Three months ended			Three months ended
		March 31, 2015(1)			March 31, 2014(1)
	Revenues	$	15,243		$	8,013
	Expenses	$	4,534		$	2,138
	Net income (loss)	$	(15,589	)	$	8,814
	(1)     Revenues and expenses exclude realized and unrealized gains and losses.

BORROWINGS

BORROWINGS	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
BORROWINGS	BORROWINGS
	As described in Note 2 to these condensed consolidated financial statements, as a result of the Merger Transaction and new accounting basis established for assets and liabilities, all borrowings were adjusted to reflect estimated fair value as of the Effective Date. In addition, effective May 1, 2014, the Successor Company elected to account for its collateralized loan obligation secured notes at estimated fair value, with changes in estimated fair value recorded in the condensed consolidated statements of operations. Prior to the Effective Date, all liabilities were carried at amortized cost.
	As of January 1, 2015, the Company adopted the measurement alternative issued by the FASB whereby the financial liabilities of its consolidated CLOs were measured using the fair value of the financial assets of its consolidated CLOs, which was determined to be more observable.
	Certain information with respect to the Company’s borrowings as of March 31, 2015 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	$	185,604	$	187,166	1.9	%	757	$	204,052
	CLO 2005-2 senior secured notes	221,222		224,521		0.72		971	337,201
	CLO 2007-1 senior secured notes	1,765,059		1,794,221		0.84		2237	1,924,255
	CLO 2007-1 mezzanine notes	489,723		497,814		3.86		2237	533,893
	CLO 2007-1 subordinated notes(3)	134,468		115,521		16.31		2237	146,596
	CLO 2007-A subordinated notes(3)	15,096		24,739		6.73		929	63,829
	CLO 2011-1 senior debt	400,995		400,995		1.61		1233	489,314
	CLO 2012-1 senior secured notes	367,500		369,669		2.36		3547	368,793
	CLO 2012-1 subordinated notes(3)	18,000		12,843		14.55		3547	18,063
	CLO 2013-1 senior secured notes	458,500		456,463		1.99		3759	488,482
	CLO 2013-2 senior secured notes	339,250		339,181		2.24		3951	360,116
	CLO 9 senior secured notes	463,750		456,724		2.26		4216	470,211
	CLO 9 subordinated notes(3)	15,000		13,602		—		4216	15,209
	CLO 10 senior notes	368,000		362,375		2.5		3912	388,721
	Total collateralized loan obligation secured debt	5,242,167		5,255,834					5,808,735
	CLO warehouse facility(4)	50,000		50,000		1.52		37	222,827
	8.375% Senior notes	258,750		290,567		8.38		9726	—
	7.500% Senior notes	115,043		123,585		7.5		9851	—
	Junior subordinated notes	283,517		247,320		5.4		7859	—
	Total borrowings	$	5,949,477	$	5,967,306				$	6,031,562
	-1	Carrying value represents estimated fair value for the collateralized loan obligation secured debt and amortized cost for all other borrowings.
	-2	Collateral for borrowings consists of the estimated fair value of certain corporate loans, securities and equity investments at estimated fair value. For purposes of this table, collateral for CLO senior, mezzanine and subordinated notes are calculated pro rata based on the par amount for each respective CLO.
	-3	Subordinated notes do not have a contractual coupon rate, but instead receive a pro rata amount of the net distributions from each respective CLO. Accordingly, weighted average borrowing rates for the subordinated notes were calculated based on annualized cash distributions during the year, if any.
	-4	Represents a $570.0 million CLO warehouse facility.
	Certain information with respect to the Company’s borrowings as of December 31, 2014 is summarized in the following table (dollar amounts in thousands):
		Par		Carrying		Weighted		Weighted	Collateral(2)
				Value(1)		Average		Average
						Borrowing		Remaining
						Rate		Maturity
								(in days)
	CLO 2005-1 senior secured notes	$	192,384	$	192,260	1.84	%	847	$	224,716
	CLO 2005-2 senior secured notes	242,928		242,365		0.68		1061	381,362
	CLO 2006-1 senior secured notes	166,841		166,710		1.28		1333	400,165
	CLO 2007-1 senior secured notes	1,906,409		1,891,228		0.8		2327	2,182,078
	CLO 2007-1 mezzanine notes	489,723		486,575		3.84		2327	560,538
	CLO 2007-1 subordinated notes(3)	134,468		119,112		13.75		2327	153,912
	CLO 2007-A subordinated notes(3)	15,096		25,921		88.02		1019	66,044
	CLO 2011-1 senior debt	402,515		402,515		1.58		1323	508,625
	CLO 2012-1 senior secured notes	367,500		364,063		2.33		3637	365,662
	CLO 2012-1 subordinated notes(3)	18,000		12,986		16.86		3637	17,910
	CLO 2013-1 senior secured notes	458,500		441,153		9.6		3849	477,691
	CLO 2013-2 senior secured notes	339,250		331,383		2.21		4041	357,722
	CLO 9 senior secured notes	463,750		449,349		2.28		4306	474,072
	CLO 9 subordinated notes(3)	15,000		13,531		—		4306	15,334
	CLO 10 senior notes	368,000		361,948		2.5		4002	343,090
	Total collateralized loan obligation secured debt	5,580,364		5,501,099					6,528,921
	8.375% Senior notes	258,750		290,861		8.38		9816	—
	7.500% Senior notes	115,043		123,663		7.5		9941	—
	Junior subordinated notes	283,517		246,907		5.39		7949	—
	Total borrowings	$	6,237,674	$	6,162,530				$	6,528,921
	-1	Carrying value represents estimated fair value for the collateralized loan obligation secured debt and amortized cost for all other borrowings.
	-2	Collateral for borrowings consists of the estimated fair value of certain corporate loans, securities and equity investments at estimated fair value. For purposes of this table, collateral for CLO senior, mezzanine and subordinated notes are calculated pro rata based on the par amount for each respective CLO.
	-3	Subordinated notes do not have a contractual coupon rate, but instead receive a pro rata amount of the net distributions from each respective CLO. Accordingly, weighted average borrowing rates for the subordinated notes are based on cash distributions during the year ended December 31, 2014, if any.
	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 and CLO 2007‑1 were no longer in their reinvestment periods as of March 31, 2015. 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. CLO 2012-1, CLO 2013-1 and CLO 2013-2, CLO 9 and CLO 10 will end their reinvestment periods during December 2016, July 2017, January 2018, October 2018 and December 2018, respectively.
Pursuant to the terms of the indentures governing our CLO transactions, the Company has the ability to call its CLO transactions after the end of the respective non-call periods. During February 2015, the Company called CLO 2006-1 and repaid aggregate senior and mezzanine notes totaling $181.8 million par amount. As described below in Note 9 to these consolidated financial statements, the Company used a pay-fixed, receive-variable interest rate swap to hedge interest rate risk associated with CLO 2006-1. In connection with the repayment of CLO 2006-1 notes, the related interest rate swap, with a contractual notional amount of $84.0 million, was terminated. During July 2014, the Company called CLO 2007-A and subsequently repaid aggregate senior and mezzanine notes totaling $494.9 million in 2014.
During the three months ended March 31, 2015, $169.8 million of original CLO 2005-1, CLO 2005-2 and CLO 2007-1 senior notes were repaid. During the three months ended March 31, 2014, $54.4 million of original CLO 2007-A, CLO 2005-1, CLO 2005-2 and CLO 2006-1 senior notes were repaid. 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 three months ended March 31, 2015 and 2014, $1.5 million and zero, respectively, of original CLO 2011-1 senior notes were repaid.
On May 7, 2015, the Company closed KKR CLO 11, Ltd. (“CLO 11”), a $564.5 million secured financing transaction maturing on April 15, 2027. The Company issued $507.8 million par amount of senior secured notes to unaffiliated investors, all of which was floating rate with a weighted-average coupon of three-month LIBOR plus 2.06%. The Company also issued $28.3 million of subordinated notes to unaffiliated investors. The investments that are owned by CLO 11 collateralize the CLO 11 debt, and as a result, those investments are not available to the Company, its creditors or shareholders.
On December 18, 2014, the Company closed CLO 10, a $415.6 million secured financing transaction maturing on December 15, 2025. The Company issued $368.0 million par amount of senior secured notes to unaffiliated investors, of which $343.0 million was floating rate with a weighted-average coupon of three-month LIBOR plus 2.09% and $25.0 million was fixed rate with a weighted-average coupon of 4.90%. The investments that are owned by CLO 10 collateralize the CLO 10 debt, and as a result, those investments are not available to the Company, its creditors or shareholders.
On September 16, 2014, the Company closed CLO 9, a $518.0 million secured financing transaction maturing on October 15, 2026. The Company issued $463.8 million par amount of senior secured notes to unaffiliated investors, all of which was floating rate with a weighted-average coupon of three-month LIBOR plus 2.01%%. The Company also issued $15.0 million of subordinated notes to unaffiliated investors. The investments that are owned by CLO 9 collateralize the CLO 9 debt, and as a result, those investments are not available to the Company, its creditors or shareholders.
During the three months ended March 31, 2014, the Company issued: (i) $21.9 million par amount of CLO 2007-1 class E notes for proceeds of $21.9 million, (ii) $29.8 million par amount of CLO 2007-A class G notes for proceeds of $30.2 million and (iii) $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.
CLO Warehouse Facility
On March 2, 2015, CLO 11, a subsidiary of the Company, entered into a $570.0 million CLO warehouse facility, which matured upon the closing of CLO 11 on May 7, 2015 ("CLO 11 Warehouse"). The CLO 11 Warehouse was used to purchase assets for the CLO transaction in advance of its closing date upon which the proceeds of the CLO closing were used to repay the CLO 11 Warehouse in full. Debt issued under the CLO 11 Warehouse was non-recourse to the Company beyond the assets of CLO 11 and bore interest at rates ranging from LIBOR plus 1.25% to 1.75%. As of March 31, 2015, there was $50.0 million of borrowings outstanding under the CLO 11 Warehouse. In addition, during April 2015, CLO 11 borrowed an incremental $140.0 million and upon the closing of CLO 11, the aggregate amount outstanding under the CLO 11 Warehouse was repaid.

DERIVATIVE_INSTRUMENTS

DERIVATIVE INSTRUMENTS	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	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 March 31, 2015 and December 31, 2014 (amounts in thousands):
		As of							As of
		31-Mar-15							December 31, 2014
		Notional				Estimated			Notional			Estimated
						Fair Value						Fair Value
	Free-Standing Derivatives:
	Interest rate swaps	$	332,667			$	(53,801	)	$	426,000		(54,071		)
	Foreign exchange forward contracts	(446,713		)		66,427			(442,181		)	27,428
	Common stock warrants	—				521			—			—
	Total rate of return swaps	—				(151		)	—			(130		)
	Options	—				4,309			—			5,212
	Total					$	17,305					$	(21,561	)
	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 CLOs 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 March 31, 2014, had interest rate swaps with a notional amount totaling $469.3 million. Changes in the estimated fair value of the interest rate swaps were recorded through accumulated other comprehensive income (loss), with gains or losses representing hedge ineffectiveness, if any, recognized in earnings during the reporting period.
	The following table presents the net gains (losses) recognized in other comprehensive income (loss) related to derivatives in cash flow hedging relationships for the three months ended March 31, 2014 (amounts in thousands):
			For the three
			months ended March 31, 2014
	Net gains (losses) recognized in accumulated other comprehensive income (loss) on cash flow hedges		$	(3,831	)
	For all hedges where hedge accounting was applied, effectiveness testing and other procedures to ensure the ongoing validity of the hedges were performed at least quarterly. During the three months ended March 31, 2014, the Company did not recognize any ineffectiveness in income on the condensed consolidated statements of operations from its cash flow hedges.
	As of March 31, 2015 and December 31, 2014, the Successor Company had interest rate swaps with a notional amount of $332.7 million and $426.0 million, respectively, which were classified as free-standing derivatives, rather than cash flow hedges.
	Free-Standing Derivatives
	Free-standing derivatives are derivatives that the Company has entered into in conjunction with its investment and risk management activities, but for which the Company has not designated the derivative contract as a hedging instrument for accounting purposes. Such derivative contracts may include commodity derivatives, credit default swaps (“CDS”) and foreign exchange contracts and options. Free-standing derivatives also include investment financing arrangements (total rate of return swaps) whereby the Company receives the sum of all interest, fees and any positive change in fair value amounts from a reference asset with a specified notional amount and pays interest on such notional amount plus any negative change in fair value amounts from such reference asset.
	Gains and losses on free-standing derivatives are reported in net realized and unrealized gain (loss) on derivatives and foreign exchange in the condensed consolidated statements of operations. Unrealized gains (losses) represent the change in fair value of the derivative instruments and are noncash items.
	Credit Default Swaps
	A CDS is a contract in which the contract buyer pays, in the case of a short position, or receives, in the case of long position, a periodic premium until the contract expires or a credit event occurs. In return for this premium, the contract seller receives a payment from or makes a payment to the buyer if there is a credit default or other specified credit event with respect to the issuer (also known as the reference entity) of the underlying credit instrument referenced in the CDS. Typical credit events include bankruptcy, dissolution or insolvency of the reference entity, failure to pay and restructuring of the obligations of the reference entity.
	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 March 31, 2015 and December 31, 2014, the net contractual notional balance of our foreign exchange options and forward contract liabilities totaled $446.7 million and $442.2 million, respectively, the majority of which related to certain of our foreign currency denominated assets.
	Free-Standing Derivatives Income (Loss)
	The following table presents the amounts recorded in net realized and unrealized gain (loss) on derivatives and foreign exchange on the condensed consolidated statements of operations for the three months ended March 31, 2015 and 2014(amounts in thousands):
		Successor Company										Predecessor Company
		Three months ended March 31, 2015										Three months ended March 31, 2014
		Realized				Unrealized			Total			Realized			Unrealized			Total
		gains				gains						gains			gains
		(losses)				(losses)						(losses)			(losses)
	Interest rate swaps	$	(5,297	)		$	(244	)	$	(5,541	)	$	—		$	—		$	—
	Commodity swaps	—				—			—			(1,914		)	(3,667		)	(5,581		)
	Credit default swaps(1)	—				—			—			(2,167		)	1,986			(181		)
	Foreign exchange forward contracts and options(2)	15				(594		)	(579		)	(450		)	68			(382		)
	Common stock warrants	—				(1,891		)	(1,891		)	—			14			14
	Total rate of return swaps	(165		)		(21		)	(186		)	(1,943		)	114			(1,829		)
	Options	—				(903		)	(903		)	—			(411		)	(411		)
	Net realized and unrealized gains (losses)	$	(5,447	)		$	(3,653	)	$	(9,100	)	$	(6,474	)	$	(1,896	)	$	(8,370	)
	-1	Includes related income and expense on the derivatives.
	-2	Net of foreign exchange remeasurement gain or loss on foreign denominated assets.
	A master netting arrangement may allow each counterparty to net settle amounts owed between the Company and the counterparty as a result of multiple, separate derivative transactions. The Company has International Swaps and Derivatives Association ("ISDA") agreements or similar agreements with certain financial institutions which contain netting provisions. While these derivative instruments are eligible to be offset in accordance with applicable accounting guidance, the Company has elected to present derivative assets and liabilities on a gross basis in its condensed consolidated balance sheets. As of March 31, 2015, if the Company had elected to offset the asset and liability balances of its derivative instruments, the net asset positions would total the following with its respective financial institution counterparties: (i) $3.0 million, net of $26.6 million collateral posted, (ii) $1.1 million, net of $11.5 million collateral posted and (iii) $7.0 million, net of $16.7 million collateral held.

FAIR_VALUE_OF_FINANCIAL_INSTRU

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	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 March 31, 2015 (amounts in thousands):
		Successor Company
		As of March 31, 2015						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	$	748,593		$	748,593		$	748,593		$	—		$	—
	Liabilities:
	Senior notes	414,152			415,435			415,435			—			—
	Junior subordinated notes	247,320			221,775			—			—			221,775
	The following table presents the carrying value and estimated fair value, as well as the respective hierarchy classifications, of the Company’s financial assets and liabilities that are not carried at estimated fair value on a recurring basis as of December 31, 2014 (amounts in thousands):
		Successor Company
		As of December 31, 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	$	610,912		$	610,912		$	610,912		$	—		$	—
	Liabilities:
	Senior notes	414,524			413,215			413,215			—			—
	Junior subordinated notes	246,907			228,087			—			—			228,087
	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 March 31, 2015, 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			March 31,
		for Identical			Observable			Inputs			2015
		Assets (Level 1)			Inputs (Level 2)			(Level 3)
	Assets:
	Securities:
	Corporate debt securities	$	—		$	230,424		$	307,911		$	538,335
	Residential mortgage-backed securities	—			—			53,935			53,935
	Total securities	—			230,424			361,846			592,270
	Corporate loans	—			5,695,338			336,186			6,031,524
	Equity investments, at estimated fair value	23,505			74,769			103,319			201,593
	Interests in joint ventures and partnerships, at estimated fair value	—			—			719,290			719,290
	Other assets	—			3,992			—			3,992
	Derivatives:
	Foreign exchange forward contracts	—			68,037			—			68,037
	Warrants	—			—			521			521
	Options	—			—			4,309			4,309
	Total derivatives	—			68,037			4,830			72,867
	Total	$	23,505		$	6,072,560		$	1,525,471		$	7,621,536
	Liabilities:
	Collateralized loan obligation secured notes	$	—		$	5,255,834		$	—		$	5,255,834
	Derivatives:
	Interest rate swaps	—			53,801			—			53,801
	Total rate of return swaps	—			151			—			151
	Foreign exchange forward contracts	—			1,610			—			1,610
	Total derivatives	—			55,562			—			55,562
	Total	$	—		$	5,311,396		$	—		$	5,311,396
	The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (amounts in thousands):
		Quoted Prices in			Significant			Significant			Balance as of
		Active Markets			Other			Unobservable Inputs			December 31,
		for Identical			Observable			(Level 3)			2014
		Assets (Level 1)			Inputs (Level 2)
	Assets:
	Securities:
Corporate debt securities	$	—		$	266,387		$	317,034		$	583,421
Residential mortgage-backed securities	—			—			55,184			55,184
Total securities	—			266,387			372,218			638,605
Corporate loans	—			6,159,487			347,077			6,506,564
Equity investments, at estimated fair value	25,692			73,967			81,719			181,378
Interests in joint ventures and partnerships, at estimated fair value	—			—			718,772			718,772
Other assets	—			4,645			—			4,645
Derivatives:
Foreign exchange forward contracts	—			28,354			—			28,354
Options	—			—			5,212			5,212
Total derivatives	—			28,354			5,212			33,566
Total	$	25,692		$	6,532,840		$	1,524,998		$	8,083,530
Liabilities:
Collateralized loan obligation secured notes	—			—			5,501,099			5,501,099
Derivatives:
Interest rate swaps	—			54,071			—			54,071
Foreign exchange forward contracts	—			926			—			926
Total rate of return swaps	—			130			—			130
Total derivatives	—			55,127			—			55,127
Total	$	—		$	55,127		$	5,501,099		$	5,556,226
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 three ended March 31, 2015 (amounts in thousands):
	Successor Company
	Assets																					Liabilities
	Corporate			Residential			Corporate			Equity			Interests in			Warrants			Options			Collateralized
	Debt			Mortgage-			Loans			Investments,			Joint									Loan
	Securities			Backed						at Estimated			Ventures and									Obligation
				Securities						Fair Value			Partnerships									Secured Notes
Beginning balance as of January 1, 2015	$	317,034		$	55,184		$	347,077		$	81,719		$	718,772		$	—		$	5,212		$	5,501,099
Total gains or losses (for the period):
Included in earnings(1)	(3,996		)	1,776			(55,770		)	(23,327		)	(32,362		)	(1,891		)	(903		)	—
Transfers into Level 3	—			—			—			—			—			—			—			—
Transfers out of Level 3(2)	—			—			—			—			—			—			—			(5,501,099		)
Purchases	—			—			1,308			—			35,537			—			—			—
Sales	(4,213		)	—			(25,511		)	—			—			—			—			—
Settlements	(914		)	(3,025		)	69,082			44,927			(2,657		)	2,412			—			—
Ending balance as of March 31, 2015	$	307,911		$	53,935		$	336,186		$	103,319		$	719,290		$	521		$	4,309		$	—
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)	$	(9,354	)	$	153		$	(55,026	)	$	(22,961	)	$	(32,362	)	$	(1,891	)	$	(903	)	$	—
-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. 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	CLO secured notes were transferred out of Level 3 due to the adoption of accounting guidance effective January 1, 2015, whereby the debt obligations of the Company's consolidated CLOs were measured on the basis of the estimated fair value of the financial assets of the CLOs. As such, as of March 31, 2015, these debt obligations were classified as Level 2. Refer to Note 2 to these condensed consolidated financial statement for further discussion.
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 March 31, 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(2)	—			—			—			—			(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
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)	$	22		$	3,059		$	3,739		$	3,205		$	8,156		$	22,377		$	(813	)	$	(302	)
-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.
-2	Equity investments, at estimated fair value were transferred out of Level 3 because observable market data became available.
There were no transfers between Level 1 and Level 2 for the Company’s financial assets and liabilities measured at fair value on a recurring and non-recurring basis as of March 31, 2015 and 2014.
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 March 31, 2015 (dollar amounts in thousands):
Successor Company
	Balance as of			Valuation		Unobservable	Weighted		Range	Impact to
	March 31,			Techniques(1)		Inputs(2)	Average(3)			Valuation
	2015									from an
										Increase in
										Input(4)
Assets:
Corporate debt securities	$	307,911		Yield analysis		Yield	16%		4% - 19%	Decrease
						Net leverage	6x		5x-12x	Decrease
						EBITDA multiple	7x		6x - 10x	Increase
						Discount margin	920bps		625bps – 1200bps	Decrease
				Broker quotes		Offered quotes	101		101	Increase
				Discounted cash flows		Weighted average cost of capital	16%		16%	Decrease
Residential mortgage – backed securities	$	53,935		Discounted cash flows		Probability of default	1%		0% - 3%	Decrease
						Loss severity	35%		30% - 50%	Decrease
						Constant prepayment rate	15%		12% - 18%	(5	)
Corporate loans	$	336,186		Yield Analysis		Yield	12%		3% - 22%	Decrease
						Net leverage	6x		1x - 18x	Decrease
						EBITDA multiple	9x		5x - 15x	Increase
Equity investments, at estimated fair value(6)	$	103,319		Inputs to both market comparables and		Illiquidity discount	12%		0% - 20%	Decrease
				discounted cash flow
						Weight ascribed to market comparables	72%		0% - 100%	(7	)
						Weight ascribed to discounted cash flows	28%		0% - 100%	(8	)
				Market comparables		LTM EBITDA multiple	4x		1x - 12x	Increase
						Forward EBITDA multiple	7x		4x - 11x	Increase
				Discounted cash flows		Weighted average cost of capital	14%		9% - 17%	Decrease
						LTM EBITDA exit multiple	6x		3x - 16x	Increase
Interests in joint ventures and partnerships(9)	$	719,290		Inputs to both market comparables and discounted cash flow		Weight ascribed to market comparables	28%		0% - 100%	(7	)
						Weight ascribed to discounted cash flows	72%		50% - 100%	(8	)
				Market comparables		Current capitalization rate	7%		5% - 12%	Decrease
						LTM EBITDA multiple	9x		9x	Increase
				Discounted cash flows		Weighted average cost of capital	10%		7% - 18%	Decrease
						Average price per BOE(10)	$24.19		$18.18 - $26.93	Increase
				Yield analysis		Yield	19%		16% - 26%	Decrease
						Net leverage	5x		1x - 13x	Decrease
						EBITDA multiple	11x		10x - 13x	Increase
Warrants	$	521		Discounted cash flows		Weighted average cost of capital	17%		17%	Decrease
						LTM EBITDA exit multiple	4x		4x	Increase
Options(11)	$	4,309		Inputs to both market comparables and discounted cash flow		Illiquidity discount	10%		10%	Decrease
						Weight ascribed to market comparables	50%		50%	(7	)
						Weight ascribed to discounted cash flows	50%		50%	(8	)
	,			Market comparables		LTM EBITDA multiple	11x		11x	Increase
				Discounted cash flows		Weighted average cost of capital	15%		15%	Decrease
						LTM EBITDA exit multiple	9x		9x	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. Of the total equity investments, at estimated fair value, $7.0 million was valued solely using a discounted cash flow technique, while $60.5 million was valued solely using a market comparables technique.
-7	The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level 3 investments if the market comparables approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach.
-8	The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level 3 investments if the discounted cash flow approach results in a higher valuation than the market comparables approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach.
-9	Inputs exclude an asset that was valued using an independent third party valuation firm. Of the total interest in joint ventures and partnerships, $198.6 million was valued solely using a discounted cash flow technique, while $25.7 million was valued solely using a market comparables technique and $35.8 million was valued solely using a yield analysis.
-10	Natural resources assets with an estimated fair value of $175.8 million as of March 31, 2015 were valued using commodity prices.Commodity prices may be measured using a common volumetric equivalent where one barrel of oil equivalent (‘‘BOE’’) is determined using the ratio of six thousand cubic feet of natural gas to one barrel of oil, condensate or natural gas liquids. The price per BOE is provided to show the aggregate of all price inputs for these investments over a common volumetric equivalent although the valuations for specific investments may use price inputs specific to the asset for purposes of our valuations. The discounted cash flows include forecasted production of liquids (oil, condensate, and natural gas liquids) and natural gas with a forecasted revenue ratio of approximately 24% liquids and 76% natural gas.
-11	The total options were valued using 50% a discount cash flow technique and 50% a market comparables technique.
The following table presents additional information about valuation techniques and inputs used for assets, including derivatives, that are measured at fair value and categorized within Level 3 as of December 31, 2014 (dollar amounts in thousands):
Predecessor Company
	Balance as of			Valuation		Unobservable	Weighted		Range	Impact to
	December 31,			Techniques(1)		Inputs(2)	Average(3)			Valuation
	2014									from an
										Increase in
										Input(4)
Assets:
Corporate debt securities	$	317,034		Yield analysis		Yield	17%		3% - 19%	Decrease
						Net leverage	6x		5x - 12x	Decrease
						EBITDA multiple	7x		4x - 11x	Increase
						Discount margin	905bps		625bps - 1100bps	Decrease
				Broker quotes		Offered quotes	101		101	Increase
Residential mortgage-backed securities	$	55,184		Discounted cash flows		Probability of defaults	8%		0% - 21%	Decrease
						Loss severity	26%		12% - 45%	Decrease
						Constant prepayment rate	12%		4% - 19%	(5	)
Corporate loans, at estimated fair value	$	347,077		Yield Analysis		Yield	12%		3% - 21%	Decrease
						Net leverage	6x		1x - 13x	Decrease
						EBITDA multiple	9x		5x - 12x	Increase
Equity investments, at estimated fair value(6)	$	81,719		Inputs to both market comparables and discounted cash flow		Weight ascribed to market comparables	97%		0% - 100%	(7	)
						Weight ascribed to discounted cash flows	83%		0% - 100%	(8	)
				Market comparables		LTM EBITDA multiple	4x		1x - 12x	Decrease
						Forward EBITDA multiple	7x		4x - 11x	Increase
				Discounted cash flows		Weighted average cost of capital	13%		9% - 16%	Decrease
						LTM EBITDA exit multiple	8x		5x - 10x	Increase
Interests in joint ventures and partnerships(9)	$	718,772		Inputs to both market comparables and discounted cash flow		Weight ascribed to market comparables	54%		0% - 100%	(7	)
						Weight ascribed to discounted cash flows	79%		0% - 100%	(8	)
				Market comparables		Current capitalization rate	7%		4% - 15%	Decrease
						LTM EBITDA multiple	11x		10x - 13x	Increase
						Control Premium	15%		15%	Increase
				Discounted cash flows		Weighted average cost of capital	12%		7% - 20%	Decrease
						Average Price per BOE(10)	$30.16		$21.46 - $35.67	Increase
Options(11)	$	5,212		Inputs to both market comparables and discounted cash flow		Weight ascribed to market comparables	50%		50%	(7	)
						Weight ascribed to discounted cash flows	50%		50%	(8	)
				Market comparables		LTM EBITDA multiple	9x		9x	Increase
				Discounted cash flows		Weighted average cost of capital	14%		14%	Decrease
						LTM EBITDA exit multiple	11x		11x	Increase
Liabilities:
Collateralized loan obligation secured notes	$	5,501,099		Yield analysis		Discount margin	255bps		95bps - 1000bps	Decrease
				Discounted cash flows		Probability of default	3%		2% - 3%	Decrease
						Loss Severity	32%		30% - 37%	Decrease
-1	For the assets that have more than one valuation technique, the Company may rely on the techniques individually or in aggregate based on a weight ascribed to each one ranging from 0-100%. When determining the weighting ascribed to each valuation methodology, the Company considers, among other factors, the availability of direct market comparables, the applicability of a discounted cash flow analysis and the expected hold period and manner of realization for the investment. These factors can result in different weightings among the investments and in certain instances, may result in up to a 100% weighting to a single methodology. Broker quotes obtained for valuation purposes are reviewed by the Company through other valuation techniques.
-2	In determining certain of these inputs, management evaluates a variety of factors including economic conditions, industry and market developments; market valuations of comparable companies; and company specific developments including exit strategies and realization opportunities.
-3	Weighted average amounts are based on the estimated fair values.
-4	Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.
-5	The impact of changes in prepayment speeds may have differing impacts depending on the seniority of the instrument. Generally, an increase in the constant prepayment speed will positively impact the overall valuation of traditional mortgage assets. In contrast, an increase in the constant prepayment rate will negatively impact the overall valuation of interest-only strips.
-6	When determining the illiquidity discount to be applied to equity investments, at estimated fair value, the Company seeks to take a uniform approach across its portfolio and generally applies a minimum 5% discount to all private equity investments carried at estimated fair value. The Company then evaluates such investments to determine if factors exist that could make it more challenging to monetize the investment and, therefore, justify applying a higher illiquidity discount. These factors generally include the salability of the investment, whether the issuer is undergoing significant restructuring activity or similar factors, as well as characteristics about the issuer including its size and/or whether it is experiencing, or expected to experience, a significant decline in earnings. Depending on the applicability of these factors, the Company determines the amount of any incremental illiquidity discount to be applied above the 5% minimum, and during the time the Company holds the investment, the illiquidity discount may be increased or decreased, from time to time, based on changes to these factors. The amount of illiquidity discount applied at any time requires considerable judgment about what a market participant would consider and is based on the facts and circumstances of each individual investment. Accordingly, the illiquidity discount ultimately considered by a market participant upon the realization of any investment may be higher or lower than that estimated by the Company in its valuations. Of the total equity investments, at estimated fair value , $9.5 million was valued solely using a discounted cash flow technique, while $67.4 million was valued solely using a market comparables technique.
-7	The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level 3 investments if the market comparables approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach.
-8	The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level 3 investments if the discounted cash flow approach results in a higher valuation than the market comparables approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach.
-9	Inputs exclude an asset that was valued using an independent third party valuation firm. Of the total interests in joint ventures and partnerships, $207.6 million was valued solely using a discounted cash flow technique, while $20.4 million was valued solely using a market comparables technique.
-10	Natural resources assets with an estimated fair value of $176.4 million as of December 31, 2014 were valued using commodity prices.Commodity prices may be measured using a common volumetric equivalent where one barrel of oil equivalent (‘‘BOE’’) is determined using the ratio of six thousand cubic feet of natural gas to one barrel of oil, condensate or natural gas liquids. The price per BOE is provided to show the aggregate of all price inputs for these investments over a common volumetric equivalent although the valuations for specific investments may use price inputs specific to the asset for purposes of our valuations. The discounted cash flows include forecasted production of liquids (oil, condensate, and natural gas liquids) and natural gas with a forecasted revenue ratio of approximately 23% liquids and 77% natural gas.
-11	The total options were valued using 50% a discount cash flow technique and 50% a market comparables technique.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES
	Commitments
	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 March 31, 2015 and December 31, 2014, the Company had unfunded financing commitments for corporate loans totaling $5.3 million and $9.5 million, respectively. The Company did not have any significant losses as of March 31, 2015, nor does it expect any significant losses related to those assets for which it committed to 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 $151.9 million as of March 31, 2015 and $162.0 million as of December 31, 2014.
	Guarantees
	As of March 31, 2015 and December 31, 2014, the Company had investments, held alongside KKR and its affiliates, in real estate entities that were financed with non-recourse debt totaling $766.9 million and $457.3 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's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against it that have not yet occurred. However, based on prior experience, the Company expects the risk of material loss to be low.
	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. Based on current discussion and consultation with counsel, management believes that the resolution of these matters will not have a material impact on the Company’s condensed consolidated financial statements.
	From December 19, 2013 to January 31, 2014, multiple putative class action lawsuits were filed in the Superior Court of California, County of San Francisco, the United States District Court of the District of Northern California, and the Court of Chancery of the State of Delaware by KFN shareholders against KFN, individual members of KFN’s board of directors, KKR & Co., and certain of KKR & Co.’s affiliates in connection with KFN’s entry into a merger agreement pursuant to which it would become a subsidiary of KKR & Co. The Merger Transaction was completed on April 30, 2014. The actions filed in California state court were consolidated, and prior to the filing or designation of an operative complaint for the consolidated action, the consolidated action was voluntarily dismissed without prejudice on December 1, 2014. The complaint filed in the California federal court action, which was never served on the defendants, was voluntarily dismissed without prejudice on May 6, 2014. Of the Delaware actions, two were voluntarily dismissed without prejudice, and the remaining Delaware actions were consolidated. On February 21, 2014, a consolidated complaint was filed in the consolidated Delaware action which all defendants moved to dismiss on March 7, 2014. On October 14, 2014, the Delaware Court of Chancery granted defendants’ motions to dismiss with prejudice. On November 13, 2014, plaintiffs filed a notice of appeal in the Supreme Court of the State of Delaware and the appeal is currently pending.
	The consolidated complaint in the Delaware action alleges that the members of the KFN board of directors breached fiduciary duties owed to KFN shareholders by approving the proposed transaction for inadequate consideration; approving the proposed transaction in order to obtain benefits not equally shared by other KFN shareholders; entering into the merger agreement containing preclusive deal protection devices; and failing to take steps to maximize the value to be paid to the KFN shareholders. The Delaware action also alleges variously that KKR & Co., and certain of KKR & Co.’s affiliates aided and abetted the alleged breaches of fiduciary duties and that KKR & Co. is a controlling shareholder of KFN by means of a management agreement between KFN and KKR Financial Advisors LLC, and KKR & Co. breached a fiduciary duty it allegedly owed to KFN shareholders by causing KFN to enter into the merger agreement. The relief sought in the Delaware action includes, among other things, declaratory relief concerning the alleged breaches of fiduciary duties, compensatory damages, attorneys’ fees and costs and other relief.

SHAREHOLDERS_EQUITY

SHAREHOLDERS' EQUITY	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS’ EQUITY
	Preferred Shares
	The Company has 14.95 million of Series A LLC Preferred Shares issued and outstanding, which trade on the NYSE under the ticker symbol “KFN.PR”. Distributions on the Series A LLC Preferred Shares are cumulative and are payable, when, as, and if declared by the Company’s executive committee, quarterly on January 15, April 15, July 15 and October 15 of each year at a rate per annum equal to 7.375%.
	Common Shares
	Pursuant to the merger agreement, on the date of the Merger Transaction (i) each outstanding option to purchase a KFN common share was cancelled, as the exercise price per share applicable to all outstanding options exceeded the cash value of the number of KKR & Co. common units that a holder of one KFN common share is entitled to in the merger, (ii) each outstanding restricted KFN common share (other than those held by the Company’s Manager) was converted into 0.51 KKR & Co. common units having the same terms and conditions as applied immediately prior to the effective time, and (iii) each phantom share under KFN’s Non‑Employee Directors’ Deferred Compensation and Share Award Plan was converted into a phantom share in respect of 0.51 KKR & Co. common units and otherwise remains subject to the terms of the plan. On January 2, 2015, these phantom shares were converted to KKR & Co. common units and cash. In addition, on June 27, 2014, the Company’s board of directors approved a reverse stock split whereby the number of the Company’s issued and outstanding common shares was reduced to 100 common shares, all of which are held solely by the Parent. As such, disclosure related to common shares below pertains to the Predecessor Company.
	On May 4, 2007, the Company adopted an amended and restated share incentive plan (the “2007 Share Incentive Plan”) that provided for the grant of qualified incentive common share options that met 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 could be granted to the Manager, directors, officers and any key employees of the Manager and to any other individual or entity performing services for the Company.
	The exercise price for any share option granted under the 2007 Share Incentive Plan could not be less than 100% of the fair market value of the common shares at the time the common share option was granted. Each option to acquire a common share must terminate no more than ten years from the date it was granted. As of March 31, 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 2007 Share Incentive Plan will terminate in May 2015, but continues to govern unexpired awards. As of March 31, 2015, all restricted KFN common shares and KFN common share options outstanding at the time of the Merger Transaction (other than any restricted Company common shares held by the Manager) had been converted to grants in respect of KKR & Co. common units and there were no outstanding equity awards in respect of KFN common shares outstanding. No new awards are expected to be issued under the 2007 Share Incentive Plan prior to its termination.
	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 March 31, 2014	340,986		85,194		426,180
	The Company was required to value any unvested restricted common shares granted to the Manager at the current market price. The Company valued the unvested restricted common shares granted to the Manager at $11.57 per share at March 31, 2014. There was $2.4 million of total unrecognized compensation costs related to unvested restricted common shares granted as of March 31, 2014. 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 March 31, 2014	1,932,279		$	20
	As of March 31, 2014, 1,932,279 common share options were fully vested and exercisable. In connection with the Merger Transaction, 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 was entitled to receive in the merger.
	For the three months ended March 31, 2014, the components of share-based compensation expense are as follows (amounts in thousands):
		Predecessor Company
		For the three months ended March 31, 2014
	Restricted common shares granted to Manager	$	577
	Restricted common shares granted to certain directors	264
	Total share-based compensation expense	$	841

MANAGEMENT_AGREEMENT_AND_RELAT

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS	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 1 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 Company			Predecessor Company
		Three months ended			Three months ended
		31-Mar-15			31-Mar-14
	Base management fees, net	$	4,053		$	3,622
	CLO management fees	6,167			8,536
	Incentive fees	—			12,882
	Manager share-based compensation	—			577
	Total related party management compensation	$	10,220		$	25,617
	Base Management Fees
	The Company pays its Manager a base management fee quarterly in arrears. During 2015 and 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 2014, 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.
	The table below summarizes the aggregate base management fees (amounts in thousands):
		Successor Company			Predecessor Company
		Three months ended			Three months ended
		March 31, 2015			March 31, 2014
	Base management fees, gross	$	8,491		$	9,992
	CLO management fees credit(1)	(4,438		)	(6,370		)
	Other related party fees credit	—			—
	Total base management fees, net	$	4,053		$	3,622
	-1	See “CLO Management Fees” for further discussion.
	The Manager waived base management fees related to the $230.4 million common share offering and $270.0 million common share rights offering that occurred during the third quarter of 2007 until such time as the Company’s common share closing price on the NYSE was $20.00 or more for five consecutive trading days. Accordingly, the Manager permanently waived approximately $2.2 million during the three months ended March 31, 2014.
	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 $0.5 million for CLO 2005-2 during the three months ended March 31, 2015 and $1.6 million for CLO 2005-2 and CLO 2006-1 during the three months ended March 31, 2014. The Company called CLO 2006-1 in February 2015.
	Fees Charged and Fee Credits
	The Company recorded management fees expense for CLO 2005‑1, CLO 2007‑1, CLO 2012‑1, CLO 2013‑1 and CLO 2013‑2 during the three months ended March 31, 2015. The Company recorded management fees expense for the same CLOs, in addition to CLO 2007-A, for the three months ended March 31, 2014. CLO 2007-A was called in July 2014 and its last payment, which included CLO management fees, was made in October 2014.
	Beginning in June 2013, the Manager credited the Company for a portion of the CLO management fees received by an affiliate of the Manager from CLO 2007-1, CLO 2007-A and CLO 2012-1 via an offset to the base management fees payable to the Manager. As the Company owns less than 100% of the subordinated notes of these three CLOs (with the remaining subordinated notes held by third parties), the Company received a Fee Credit equal only to the Company’s pro rata share of the aggregate CLO management fees paid by these CLOs. Specifically, the amount of the reimbursement for each of these CLOs was calculated by taking the product of (x) the total CLO management fees received by an affiliate of the Manager during the period for such CLO multiplied by (y) the percentage of the subordinated notes of such CLO held by the Company. The remaining portion of the CLO management fees paid by each of these CLOs was not credited to the Company, but instead resulted in a dollar-for-dollar reduction in the interest expense paid by the Company to the third party holder of the CLO’s subordinated notes. Similarly, the Manager credited the Company the CLO management fees from CLO 2013-1 and CLO 2013-2 based on the Company’s 100% ownership of the subordinated notes in the CLO.
	The table below summarizes the aggregate CLO management fees, including the Fee Credits (amounts in thousands):
		Successor Company			Predecessor Company
		Three months ended March 31, 2015			Three months ended March 31, 2014
	Charged and retained CLO management fees(1)	$	1,729		$	2,166
	CLO management fees credit	4,438			6,370
	Total CLO management fees	$	6,167		$	8,536
	-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 and $12.9 million for the three months ended March 31, 2015 and 2014, respectively.
	Manager Share-Based Compensation
	As described above in Note 2, in connection with the Merger Transaction, the Predecessor Company’s common shares were converted into 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 recognized share-based compensation expense related to restricted common shares granted to the Manager of $0.6 million for the three months ended March 31, 2014.
	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 $2.3 million and $1.9 million for the three months ended March 31, 2015 and 2014, 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 March 31, 2015, the aggregate par amount of these affiliated investments totaled $1.4 billion, or approximately 18% of the total investment portfolio, and consisted of 18 issuers. The total $1.4 billion in affiliated investments was comprised of $1.4 billion of corporate loans and $12.0 million of equity investments, at estimated fair value. As of December 31, 2014, the aggregate par amount of these affiliated investments totaled $1.7 billion, or approximately 20% of the total investment portfolio, and consisted of 19 issuers. The total $1.7 billion in affiliated investments was comprised of $1.6 billion of corporate loans, $9.5 million of corporate debt securities and $13.6 million of equity investments, at estimated fair value.
	In addition, the Company has invested in certain joint ventures and partnerships alongside KKR and its affiliates. As of March 31, 2015 and December 31, 2014, the estimated fair value of these interests in joint ventures and partnerships totaled $623.1 million and $618.6 million, respectively.

SEGMENT_REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING
	Operating segments are defined as components of a company that engage in business activities that may earn revenues and incur expenses for which separate financial information is available and reviewed by the chief operating decision maker or group in determining how to allocate resources and assessing performance. The Company operates its business through the following reportable segments: credit (“Credit”), natural resources (“Natural Resources”) and other (“Other”) segments.
	The Company’s reportable segments are differentiated primarily by their investment focuses. The Credit segment consists primarily of below investment grade corporate debt comprised of senior secured and unsecured loans, mezzanine loans, high yield bonds, private and public equity investments, and distressed and stressed debt securities. The Natural Resources segment consists of non-operated working and overriding royalty interests in oil and natural gas properties, as well as interests in joint ventures and partnerships focused on the oil and gas sector. The Other segment includes all other portfolio holdings, consisting solely of commercial real estate. The segments currently reported are consistent with the way decisions regarding the allocation of resources are made, as well as how operating results are reviewed by the Company.
	The Company evaluates the performance of its reportable segments based on several net income (loss) components. Net income (loss) includes (i) revenues, (ii) related investment costs and expenses, (iii) other income (loss), which is comprised primarily of unrealized and realized gains and losses on investments, debt and derivatives, and (iv) other expenses, including related party management compensation and general and administrative expenses. Certain corporate assets and expenses that are not directly related to the individual segments, including interest expense and related costs on borrowings, base management fees and professional services are allocated to individual segments based on the investment portfolio balance in each respective segment as of the most recent period-end. Certain other corporate assets and expenses, including prepaid insurance, incentive fees, insurance expenses, directors’ expenses and share-based compensation expense are not allocated to individual segments in the Company’s assessment of segment performance. Collectively, these items are included as reconciling items between reported segment amounts and consolidated totals.
	The following tables present the net income (loss) components of our reportable segments reconciled to amounts reflected in the condensed consolidated statements of operations for the three months ended March 31, 2015 and 2014 (amounts in thousands):
		Successor Company
		Credit			Natural			Other		Reconciling Items(1)			Total Consolidated
					Resources
		Three months ended March 31, 2015			Three months ended March 31, 2015			Three months ended March 31, 2015		Three months ended March 31, 2015			Three months ended March 31, 2015
	Total revenues	$	94,958		$	2,828		$	—	$	—		$	97,786
	Total investment costs and expenses	55,967			1,340			346		—			57,653
	Total other income (loss)	(65,992		)	(7,753		)	4,581		—			(69,164		)
	Total other expenses	16,403			510			155		100			17,168
	Income tax expense (benefit)	48			—			299		—			347
	Net income (loss)	$	(43,452	)	$	(6,775	)	$	3,781	$	(100	)	$	(46,546	)
	Net income (loss) attributable to noncontrolling interests	(5,858		)	(213		)	—		—			(6,071		)
	Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries	$	(37,594	)	$	(6,562	)	$	3,781	$	(100	)	$	(40,475	)
	-1	Consists of insurance and directors’ expenses which are not allocated to individual segments.
		Predecessor Company
		Credit			Natural Resources			Other		Reconciling			Total
										Items(1)			Consolidated
		Three months ended March 31, 2014			Three months ended March 31, 2014			Three months ended March 31, 2014		Three months ended March 31, 2014			Three months ended March 31, 2014
	Total revenues	$	96,562		$	44,028		$	—	$	—		$	140,590
	Total investment costs and expenses	45,873			27,576			321		—			73,770
	Total other income (loss)	64,516			(5,389		)	13,713		—			72,840
	Total other expenses	15,835			1,154			140		14,329			31,458
	Income tax expense (benefit)	19			—			—		—			19
	Net income (loss)	$	99,351		$	9,909		$	13,252	$	(14,329	)	$	108,183
	-1	Consists of certain expenses not allocated to individual segments including incentive fees of $12.9 million and insurance expenses, directors’ expenses and share-based compensation expense which are not allocated to individual segments.
	The following table shows total assets of our reportable segments reconciled to amounts reflected in the condensed consolidated balance sheets as of March 31, 2015 and December 31, 2014 (amounts in thousands):
		Credit						Natural Resources					Other					Reconciling				Total Consolidated(1)
																		Items
	As of	31-Mar-15			December 31,			31-Mar-15		December 31,			31-Mar-15			December 31,		31-Mar-15		December 31,		31-Mar-15		December 31,
					2014					2014						2014				2014				2014
	Total assets	$	8,202,142		$	8,438,227		$	297,169	$	300,281		$	227,853		$	213,006	$	—	$	111	$	8,727,164	$	8,951,625
	-1	Total consolidated assets as of March 31, 2015 included $96.2 million of noncontrolling interests, of which $56.8 million was related to the Credit segment and $39.4 million was related to the Natural Resources segment. Total consolidated assets as of December 31, 2014 included $100.2 million of noncontrolling interests, of which $62.7 million was related to the Credit segment and $37.4 million was related to the Natural Resources segment.

EARNINGS_PER_COMMON_SHARE

EARNINGS PER COMMON SHARE	3 Months Ended
	Mar. 31, 2015
Earnings Per Share, Basic and Diluted [Abstract]
EARNINGS PER COMMON SHARE	EARNINGS PER COMMON SHARE
	Earnings per common share is not provided for the three months ended March 31, 2015 as the Company is now a subsidiary of KKR Fund Holdings, which owns 100 common shares of the Company constituting all of the Company’s outstanding common shares. The following table presents a reconciliation of basic and diluted net income (loss) per common share for the Predecessor Company (amounts in thousands, except per share information):
			Predecessor Company
			Three months
			ended March 31, 2014
	Net income (loss)		$	108,183
	Less: Preferred share distributions		6,891
	Net income (loss) available to common shares		$	101,292
	Less: Dividends and undistributed earnings allocated to participating securities		309
	Net income (loss) allocated to common shares		$	100,983
	Basic:
	Basic weighted average common shares outstanding		204,236
	Net income (loss) per common share		$	0.49
	Diluted:
	Diluted weighted average common shares outstanding(1)		204,236
	Net income (loss) per common share		$	0.49
	Distributions declared per common share		$	0.22
	-1	Potential anti-dilutive common shares excluded from diluted earnings per share related to common share options were 1,932,279.

ACCUMULATED_OTHER_COMPREHENSIV

ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Mar. 31, 2015
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS
	In connection with the Merger Transaction, accumulated other comprehensive loss is not provided for the three months ended March 31, 2015 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 gain (loss) on derivatives and foreign exchange, respectively. The components of changes in accumulated other comprehensive loss for the Predecessor Company were as follows (amounts in thousands):
		Predecessor Company
		Three months ended March 31, 2014(1)
		Net unrealized			Net unrealized			Total
		gains on			losses on cash
		available-for-sale			flow hedges
		securities
	Beginning balance	$	23,567		$	(39,219	)	$	(15,652	)
	Other comprehensive loss before reclassifications	(303		)	(3,831		)	(4,134		)
	Amounts reclassified from accumulated other comprehensive loss(2)	(1,586		)	—			(1,586		)
	Net current-period other comprehensive loss	(1,889		)	(3,831		)	(5,720		)
	Ending balance	$	21,678		$	(43,050	)	$	(21,372	)
	-1	The Company’s gross and net of tax amounts are the same.
	-2	Includes an impairment charge of $2.9 million for investments which were determined to be other-than-temporary for the three months ended March 31, 2014. These reclassified amounts were included in net realized and unrealized gain (loss) on investments on the condensed consolidated statements of operations.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS
	On May 7, 2015, the Company's board of directors declared a cash distribution for the quarter ended March 31, 2015 on its common shares totaling $34.3 million, or $342,908 per common share. The distribution was paid on May 8, 2015 to common shareholders of record as of the close of business on May 7, 2015.
	On March 26, 2015, the Company’s board of directors declared a cash distribution on its Series A LLC Preferred Shares totaling $6.9 million, or $0.460938 per share. The distribution was paid on April 15, 2015 to preferred shareholders as of the close of business on April 8, 2015.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
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. Also included in the condensed consolidated financial statements are the financial results of certain entities, which are not considered VIEs, but in which the Company is presumed to have control. The ownership interests held by third parties are reflected as noncontrolling interests in the accompanying financial statements.
	As further described in Note 3 to these 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 equity section of the Company’s condensed consolidated financial statements. Accordingly, the Company’s accumulated deficit at March 31, 2015 and December 31, 2014 represents only the results of operations subsequent to April 30, 2014, the date of the Merger Transaction.
	For the following assets not carried at fair value, as presented under the Predecessor Company, the Company adopted the fair value option of accounting as of the Effective Date: (i) corporate loans held for investment at amortized cost, net of an allowance for loan losses, (ii) corporate loans held for sale at lower of cost or estimated fair value and (iii) certain other investments at cost. In addition, the Company elected the fair value option of accounting for its CLO 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 initial fair value presentation was a result of the push down basis of accounting, while the prospective fair value presentation was for the primary purpose of reporting values more closely aligned with KKR & Co.’s method of accounting.
	In August 2014, the Financial Accounting Standards Board ("FASB") amended existing standards to provide an entity that consolidates a collateralized financing entity (“CFE”) that had elected the fair value option for the financial assets and financial liabilities of such CFE, an alternative to current fair value measurement guidance. In accordance with this guidance, beginning January 1, 2015, the Company elected to measure the financial liabilities of its consolidated CLOs using the fair value of the financial assets of its consolidated CLOs, which was determined to be more observable. Refer to "Borrowings" below for further discussion. The Company applied the guidance using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of January 1, 2015 totaling $1.9 million.
	Unrealized gains and losses for the financial assets and liabilities carried at estimated fair value are reported in net realized and unrealized gain (loss) on investments and net realized and unrealized gain (loss) on debt, respectively, in the 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.
Consolidation	Consolidation
	KKR Financial CLO 2005‑1, Ltd. (“CLO 2005‑1”), KKR Financial CLO 2005‑2, Ltd. (“CLO 2005‑2”), KKR Financial CLO 2007‑1, Ltd. (“CLO 2007‑ 1”), KKR Financial CLO 2007‑A, Ltd. (“CLO 2007‑A”), KKR Financial CLO 2011‑1, Ltd. (“CLO 2011‑1”), KKR Financial CLO 2012‑ 1, Ltd. (“CLO 2012‑1”), KKR Financial CLO 2013‑1, Ltd. (“CLO 2013‑1”), KKR Financial CLO 2013‑2, Ltd. (“CLO 2013‑2”), KKR CLO 9, Ltd. (“CLO 9”) and KKR CLO 10, Ltd. (“CLO 10”) (collectively the “Cash Flow CLOs”) are entities established to complete secured financing transactions. During February 2015, the Company called KKR Financial CLO 2006-1, Ltd ("CLO 2006-1") and repaid all senior and mezzanine notes outstanding. 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 March 31, 2015, the Company’s CLOs held $6.0 billion par amount, or $5.8 billion estimated fair value, of corporate debt investments. As of December 31, 2014, the Company's CLOs held $6.9 billion par amount, or $6.5 billion estimated fair value, of corporate debt investments. The assets in each CLO can be used only to settle the debt of the related CLO. As of March 31, 2015 and December 31, 2014, the aggregate par amount of CLO debt totaled $5.2 billion and $5.5 billion, respectively, held by unaffiliated third parties.
	The Company consolidates all non‑VIEs in which it holds a greater than 50 percent voting interest. Specifically, the Company consolidates majority owned entities for which the Company is presumed to have control. The ownership interests of these entities held by third parties are reflected as noncontrolling interests in the accompanying financial statements. The Company began consolidating a majority of these non‑VIE entities as a result of the asset contributions from its Parent during the second half of 2014. For certain of these entities, the Company previously held a percentage ownership, but following the incremental contributions from its Parent, were presumed to have control.
	In addition, the Company has noncontrolling interests in joint ventures and partnerships that do not qualify as VIEs and do not meet the control requirements for consolidation as defined by GAAP.
	All inter‑company balances and transactions have been eliminated in consolidation.
Fair Value Option	Fair Value Option
	In connection with the application of acquisition accounting related to the Merger Transaction, the Successor Company elected the fair value option of accounting for its financial assets and CLO secured notes for the primary purpose of reporting values that more closely aligned with KKR & Co.’s method of accounting. Related unrealized gains and losses are reported in net realized and unrealized gain (loss) on investments in the 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 and Interests in Joint Ventures and Partnerships, at Estimated Fair Value: Equity and interests in joint ventures and partnerships, at estimated fair value, are initially valued at transaction price and are subsequently valued using observable market prices, if available, or internally developed models in the absence of readily observable market prices. Interests in joint ventures and partnerships include certain equity investments related to the oil and gas, commercial real estate and specialty lending sectors. Valuation models are generally based on market comparables and discounted cash flow approaches, in which various internal and external factors are considered. Factors include key financial inputs and recent public and private transactions for comparable investments. Key inputs used for the discounted cash flow approach, which incorporates significant assumptions and judgment, include the weighted average cost of capital and assumed inputs used to calculate terminal values, such as earnings before interest, taxes, depreciation and amortization (“EBITDA”) exit multiples. Natural resources investments are generally valued using a discounted cash flow analysis. Key inputs used in this methodology that require estimates include the weighted average cost of capital. In addition, the valuations of natural resources investments generally incorporate both commodity prices as quoted on indices and long‑term commodity price forecasts, which may be substantially different from, and are currently higher than, commodity prices on certain indices for equivalent future dates. Long‑term commodity price forecasts are utilized to capture the value of the investments across a range of commodity prices within the portfolio associated with future development and to reflect price expectations.
	Upon completion of the valuations conducted using these approaches, a weighting is ascribed to each approach and an illiquidity discount is applied where appropriate. The ultimate fair value recorded for a particular investment will generally be within the range suggested by the two approaches.
	Over-the-counter (“OTC”) Derivative Contracts: OTC derivative contracts may 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: As of January 1, 2015, the Company adopted the measurement alternative issued by the FASB whereby the financial liabilities of its consolidated CLOs were measured using the fair value of the financial assets of its consolidated CLOs, which was determined to be more observable. The Company considered the fair value of these financial assets, which were classified as Level 2 assets, as more observable than the fair value of these financial liabilities, which were classified as Level 3 liabilities. As a result of this new basis of measurement, the Company's CLO secured notes were transferred from Level 3 to Level 2 during the first quarter of 2015.
	Prior to this adoption, CLO secured notes were initially valued at transaction price and subsequently valued using a third party valuation servicer. The approach used to estimate the fair values was the discounted cash flow method, which included consideration of the cash flows of the debt obligation based on projected quarterly interest payments and quarterly amortization. The debt obligations were discounted based on the appropriate yield curve given the debt obligation's respective maturity and credit rating. The most significant inputs to the valuation of these instruments were 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 10 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
	Investments are generally valued based on quotations from third party pricing services, unless such a quotation is unavailable or is determined to be unreliable or inadequately representing the fair value of the particular assets. In that case, valuations are based on either valuation data obtained from one or more other third party pricing sources, including broker dealers, or will reflect the valuation committee’s good faith determination of estimated fair value based on other factors considered relevant. The Company utilizes a valuation committee, whose members consist of certain employees of the Manager. The valuation committee is responsible for coordinating and implementing the Company’s quarterly valuation process.
	The valuation process involved in Level 3 measurements for assets and liabilities is completed on a quarterly basis and is designed to subject the valuation of Level 3 investments to an appropriate level of consistency, oversight and review. For assets classified as Level 3, valuations may be performed by the relevant investment professionals or by independent third parties with input from the relevant investment professionals and are based on various factors including evaluation of financial and operating data, company specific developments, market discount rates and valuations of comparable companies and model projections. Asset valuations are approved by the valuation committee, which may be assisted by a subcommittee for the valuation of natural resources investments.
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 would have been 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.
	Equity Method Investments
	The Company holds certain investments where the Company does not control the investee and where the Company is not the primary beneficiary, but can exert significant influence over the financial and operating policies of the investee. Significant influence typically exists if the Company has a 20% to 50% ownership interest in the investee unless predominant evidence to the contrary exists. The evaluation of whether the Company exerts control or significant influence over the financial and operational policies of an investee may also require significant judgment based on the facts and circumstances surrounding each individual investment. Factors include investor voting or other rights, any influence the Company may have on the governing board of the investee and the relationship between the Company and other investors in the entity. The Company elected the fair value option to account for these equity investments with any changes in estimated fair value recorded in net realized and unrealized gain (loss) on investments in the condensed consolidated statements of operations.
Interests in Joint Ventures and Partnerships	Interests in Joint Ventures and Partnerships
	The Predecessor and Successor Company both elected the fair value option of accounting for certain of their interests in joint ventures and partnerships. The Companies elected the fair value option of accounting for certain of their noncontrolling interests in joint ventures and partnerships for the purpose of enhancing the transparency of their financial condition as fair value is consistent with how the Companies manage the risks of these interests. Interests in joint ventures and partnerships are presented separately on the condensed consolidated balance sheets.
Corporate Loans, Net	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 (loss) gain 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 6 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 Gas Revenue Recognition	Oil and Gas Revenue Recognition
	Oil, natural gas and natural gas liquid (“NGL”) revenues are recognized when production is sold to a purchaser at fixed or determinable prices, when delivery has occurred and title has transferred and collectability of the revenue is reasonably assured. The Company follows the sales method of accounting for natural gas revenues. Under this method of accounting, revenues are recognized based on volumes sold, which may differ from the volume to which the Company is entitled based on the Company’s working interest. An imbalance is recognized as a liability only when the estimated remaining reserves will not be sufficient to enable the under‑produced owners to recoup their entitled share through future production. Under the sales method, no receivables are recorded when the Company has taken less than its share of production and no payables are recorded when the Company has taken more than its share of production.
Long-Lived Assets	Long‑Lived Assets
	Whenever events or changes in circumstances indicate that the carrying amounts of such properties may not be recoverable, the Company evaluates its proved oil and natural gas properties and related equipment and facilities for impairment on a field‑by‑field basis. The determination of recoverability is made based upon estimated undiscounted future net cash flows. The amount of impairment loss, if any, is determined by comparing the fair value, as determined by a discounted cash flow analysis, with the carrying value of the related asset. The factors used to determine fair value may include, but are not limited to, estimates of proved reserves, future commodity pricing, future production estimates, anticipated capital expenditures, future operating costs and a discount rate commensurate with the risk on the properties and cost of capital. Unproved oil and natural gas properties were assessed periodically and, at a minimum, annually on a property‑by‑property basis, and any impairment in value was recognized when incurred. As a result of certain transactions during the third quarter of 2014, the Company no longer has any unproved oil and natural gas properties, as further described in Note 6 to these condensed consolidated financial statements.
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. 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 CLO secured notes at estimated fair value as of the Effective Date, with changes in estimated fair value recorded in net realized and unrealized gain (loss) on debt in the condensed consolidated statements of operations. Prior to the Effective Date, the Company's CLO secured notes were carried at amortized cost.
	As mentioned above, beginning January 1, 2015, the Company adopted the measurement alternative issued by the FASB whereby the financial liabilities of its consolidated CLOs were measured using the fair value of the financial assets of its consolidated CLOs, which was determined to be more observable. Accordingly, these financial assets were measured at fair value and these financial liabilities were measured as (i) the sum of the fair value of the financial assets and the carrying value of any nonfinancial assets that are incidental to the operations of the CLOs less, (ii) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and the Company’s carrying value of any beneficial interests that represent compensation for services. The resulting amount was allocated to the individual financial liabilities (other than the beneficial interests retained by the Company) using a reasonable and consistent methodology.
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 gain (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 gain (loss) 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 gain (loss) on derivatives and foreign exchange on the condensed consolidated statements of operations.
Noncontrolling Interests	Noncontrolling Interests
	Noncontrolling interests represent noncontrolling interests in condensed consolidated entities held by third party investors. Income (loss) is allocated to noncontrolling interests based on the relative ownership interests of third party investors and is presented as net income (loss) attributable to noncontrolling interests on the condensed consolidated statements of operations. Noncontrolling interests are also presented separately within equity in the condensed consolidated balance sheets.
Manager Compensation	Manager Compensation
	The Management Agreement provides for the payment of a base management fee to the Manager, as well as an incentive fee if the Company’s financial performance exceeds certain benchmarks. Additionally, the Management Agreement provides for the Manager to be reimbursed for certain expenses incurred on the Company’s behalf. The base management fee and the incentive fee are accrued and expensed during the period for which they are earned by the Manager.
Income Taxes	Income Taxes
	The Company intends to continue to operate so as to qualify, for United States federal income tax purposes, as a partnership and not as an association or publicly traded partnership taxable as a corporation. Therefore, the Company generally is not subject to United States federal income tax at the entity level, but is subject to limited state and foreign taxes. Holders of the Company’s Series A LLC Preferred Shares will be allocated a share of the Company’s gross ordinary income for the taxable year of the Company ending within or with their taxable year. Holders of the Company’s Series A LLC Preferred Shares will not be allocated any gains or losses from the sale of the Company’s assets.
	The Company owns equity interests in entities that have elected or intend to elect to be taxed as a real estate investment trust (a “REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). A REIT generally is not subject to United States federal income tax to the extent that it currently distributes its income and satisfies certain asset, income and ownership tests, and recordkeeping requirements, but it may be subject to some amount of federal, state, local and foreign taxes based on its taxable income.
	The Company has wholly‑owned domestic and foreign subsidiaries that are taxable as corporations for United States federal income tax purposes and thus are not consolidated with the Company for United States federal income tax purposes. For financial reporting purposes, current and deferred taxes are provided for on the portion of earnings recognized by the Company with respect to its interest in the domestic taxable corporate subsidiaries, because each is taxed as a regular corporation under the Code. Deferred income tax assets and liabilities are computed based on temporary differences between the GAAP consolidated financial statements and the United States federal income tax basis of assets and liabilities as of each consolidated balance sheet date. The foreign corporate subsidiaries were formed to make certain foreign and domestic investments from time to time. The foreign corporate subsidiaries are organized as exempted companies incorporated with limited liability under the laws of the Cayman Islands, and are anticipated to be exempt from United States federal and state income tax at the corporate entity level because they restrict their activities in the United States to trading in stock and securities for their own account. However, the Company will be required to include their current taxable income in the Company’s calculation of its gross ordinary income allocable to holders of its Series A LLC Preferred Shares.
	The Company must recognize the tax impact from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax impact recognized in the financial statements from such a position is measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. Penalties and interest related to uncertain tax positions are recorded as tax expense. Significant judgment is required in the identification of uncertain tax positions and in the estimation of penalties and interest on uncertain tax positions. If it is determined that recognition for an uncertain tax provision is necessary, the Company would record a liability for an unrecognized tax expense from an uncertain tax position taken or expected to be taken.
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.
Earnings Per Common Share	Earnings Per Common Share
	In connection with the Merger Transaction, as of the Effective Date, the Company is now a subsidiary of KKR Fund Holdings, a subsidiary of KKR & Co., which owns 100 common shares of the Company constituting all of the Company’s outstanding common shares. As KKR Fund Holdings is the Company’s sole shareholder, earnings per common share is not reported for the Successor Company. Prior to the Effective Date, the Company presented both basic and diluted earnings per common share (‘‘EPS’’) in its consolidated financial statements and footnotes thereto. Basic earnings per common share (‘‘Basic EPS’’) excluded dilution and was computed by dividing net income or loss available to common shareholders by the weighted average number of common shares, including vested restricted common shares, outstanding for the period. The Company calculated EPS using the more dilutive of the two-class method or the if-converted method. The two-class method was an earnings allocation formula that determined EPS for common shares and participating securities. Unvested share-based
	payment awards that contained non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid) were participating securities and were included in the computation of EPS using the two-class method. Accordingly, all earnings (distributed and undistributed) were allocated to common shares, preferred shares and participating securities based on their respective rights to receive dividends. Diluted earnings per common share (‘‘Diluted EPS’’) reflected the potential dilution of
	common share options and unvested restricted common shares using the treasury method or if-converted method.

MERGER_TRANSACTION_Tables

MERGER TRANSACTION (Tables)	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
Summary of the estimated fair values assigned to the assets purchased and liabilities assumed	The following table summarizes the estimated fair values assigned to the assets purchased and liabilities assumed (amounts in thousands):
	Assets acquired:
	Cash and cash equivalents		$	210,413
	Restricted cash and cash equivalents		649,967
	Securities		541,149
	Corporate loans		6,649,054
	Equity investments		297,054
	Oil and gas properties, net		505,238
	Interests in joint ventures and partnerships		491,324
	Derivative assets		26,383
	Interest and principal receivable		35,992
	Other assets		208,144
	Total assets		9,614,718
	Liabilities assumed:
	Collateralized loan obligation secured notes		5,663,666
	Credit facilities		63,189
	Senior notes		415,538
	Junior subordinated notes		245,782
	Accounts payable, accrued expenses and other liabilities		357,084
	Accrued interest payable		17,647
	Derivative liabilities		88,356
	Total liabilities		6,851,262
	Fair value of preferred shares		378,983
	Fair value of net assets acquired		2,384,473
	Less: Purchase price		2,369,559
	Bargain purchase gain(1)		$	14,914
	-1	Represents the excess of the fair value of the net assets acquired over the purchase price and value of the preferred shares, which constitute noncontrolling interests in the Company. This difference was recorded as an adjustment to the Company’s additional paid‑in‑capital as of the Effective Date.

SECURITIES_Tables

SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Summary of the company's securities which are carried at estimated fair value	The following table summarizes the Company’s securities as of March 31, 2015 and December 31, 2014, which are carried at estimated fair value (amounts in thousands):
		31-Mar-15							31-Dec-14
		Par			Amortized Cost		Estimated		Par		Amortized Cost		Estimated
							Fair Value						Fair Value
	Securities, at estimated fair value	$	670,121		$	606,385	$	592,270	$	721,094	$	654,257	$	638,605
	Total	$	670,121		$	606,385	$	592,270	$	721,094	$	654,257	$	638,605
Schedule of realized and unrealized gains from securities	The following table presents the Company’s realized and unrealized gains (losses) from securities for the three months ended March 31, 2015 (amounts in thousands):
		Three months ended March 31, 2015
	Net realized gains (losses)	$	(526	)
	Net decrease in unrealized losses	1,834
	Net realized and unrealized gains (losses)	$	1,308
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 March 31, 2015 and December 31, 2014 (amounts in thousands):
		31-Mar-15			31-Dec-14
	Pledged as collateral for collateralized loan obligation secured debt	$	227,818		$	262,085
	Total	$	227,818		$	262,085

CORPORATE_LOANS_AND_ALLOWANCE_1

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	3 Months Ended
	Mar. 31, 2015
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 March 31, 2015 and December 31, 2014 (amounts in thousands):
		31-Mar-15										31-Dec-14
		Par				Amortized Cost				Estimated		Par		Amortized		Estimated
										Fair Value				Cost		Fair Value
	Corporate loans, at estimated fair value	$	6,304,720			$	6,153,832			$	6,031,524	$	6,907,373	$	6,710,570	$	6,506,564
	Total	$	6,304,720			$	6,153,832			$	6,031,524	$	6,907,373	$	6,710,570	$	6,506,564
Schedule of realized and unrealized (losses) gains from corporate loans	The following tables present the Company’s realized and unrealized gains (losses) from corporate loans for the three months ended March 31, 2015 (amounts in thousands):
		Three Months Ended
		March 31, 2015
	Net realized gains (losses)	$	(16,182	)
	Net decrease in unrealized losses	82,274
	Net realized and unrealized gains (losses)	$	66,092
Schedule of corporate loans pledged as collateral	The following table summarizes the corporate loans, at estimated fair value, pledged as collateral as of March 31, 2015 and December 31, 2014 (amounts in thousands):
		31-Mar-15				31-Dec-14
	Pledged as collateral for collateralized loan obligation secured debt	$	5,564,728			$	6,205,292
	Total	$	5,564,728			$	6,205,292
Predecessor Company
Summary of corporate loans
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 three months ended March 31, 2014 (amounts in thousands):
			For the three months ended
			March 31, 2014
	Allowance for loan losses:
	Beginning balance		$	224,999
	Provision for loan losses		—
	Charge-offs		(1,458		)
	Ending balance		$	223,541
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 months ended March 31, 2014 (amounts in thousands):
		For the three months ended
		March 31, 2014
		Average				Interest
		Recorded				Income
		Investment(1)				Recognized
	With no related allowance recorded	$	—			$	—
	With an allowance recorded	476,011				3,543
	Total	$	476,011			$	3,543
	-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 three months ended March 31, 2014 (dollar amounts in thousands):
		Three Months Ended
		March 31, 2014
		Number		Pre-modification				Post-modification
		of TDRs		outstanding recorded				outstanding recorded
				investment(1)				investment(1)(2)
	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.

NATURAL_RESOURCES_ASSETS_Table

NATURAL RESOURCES ASSETS (Tables)	3 Months Ended
	Mar. 31, 2015
Oil and Gas Exploration and Production Industries Disclosures [Abstract]
Summary of the company's oil and gas properties	The following table summarizes the Company’s oil and gas properties as of March 31, 2015 and December 31, 2014 (amounts in thousands):
		As of			As of
		31-Mar-15			December 31, 2014
	Proved oil and natural gas properties (successful efforts method)	$	128,800		$	128,800
	Less: Accumulated depreciation, depletion and amortization	(9,528		)	(8,526		)
	Oil and gas properties, net	$	119,272		$	120,274

EQUITY_METHOD_INVESTMENTS_EQUI

EQUITY METHOD INVESTMENTS EQUITY METHOD INVESTMENTS - (Tables)	3 Months Ended
	Mar. 31, 2015
Equity Method Investments and Joint Ventures [Abstract]
Summarized financial information of equity investments	The following table shows summarized financial information for the Company’s equity method investment(s), which were reported under the fair value option of accounting and were determined to be significant as defined by accounting guidance, assuming 100% ownership for the three months ended March 31, 2015 and 2014 (amounts in thousands):
		Three months ended			Three months ended
		March 31, 2015(1)			March 31, 2014(1)
	Revenues	$	15,243		$	8,013
	Expenses	$	4,534		$	2,138
	Net income (loss)	$	(15,589	)	$	8,814
	(1)     Revenues and expenses exclude realized and unrealized gains and losses.

BORROWINGS_Tables

BORROWINGS (Tables)	3 Months Ended
	Mar. 31, 2015										Dec. 31, 2014
Debt Disclosure [Abstract]
Schedule of Company's borrowings	Certain information with respect to the Company’s borrowings as of March 31, 2015 is summarized in the following table (dollar amounts in thousands):										Certain information with respect to the Company’s borrowings as of December 31, 2014 is summarized in the following table (dollar amounts in thousands):
		Par		Carrying		Weighted		Weighted	Collateral(2)			Par		Carrying		Weighted		Weighted	Collateral(2)
				Value(1)		Average		Average						Value(1)		Average		Average
						Borrowing		Remaining								Borrowing		Remaining
						Rate		Maturity								Rate		Maturity
								(in days)										(in days)
	CLO 2005-1 senior secured notes	$	185,604	$	187,166	1.9	%	757	$	204,052	CLO 2005-1 senior secured notes	$	192,384	$	192,260	1.84	%	847	$	224,716
	CLO 2005-2 senior secured notes	221,222		224,521		0.72		971	337,201		CLO 2005-2 senior secured notes	242,928		242,365		0.68		1061	381,362
	CLO 2007-1 senior secured notes	1,765,059		1,794,221		0.84		2237	1,924,255		CLO 2006-1 senior secured notes	166,841		166,710		1.28		1333	400,165
	CLO 2007-1 mezzanine notes	489,723		497,814		3.86		2237	533,893		CLO 2007-1 senior secured notes	1,906,409		1,891,228		0.8		2327	2,182,078
	CLO 2007-1 subordinated notes(3)	134,468		115,521		16.31		2237	146,596		CLO 2007-1 mezzanine notes	489,723		486,575		3.84		2327	560,538
	CLO 2007-A subordinated notes(3)	15,096		24,739		6.73		929	63,829		CLO 2007-1 subordinated notes(3)	134,468		119,112		13.75		2327	153,912
	CLO 2011-1 senior debt	400,995		400,995		1.61		1233	489,314		CLO 2007-A subordinated notes(3)	15,096		25,921		88.02		1019	66,044
	CLO 2012-1 senior secured notes	367,500		369,669		2.36		3547	368,793		CLO 2011-1 senior debt	402,515		402,515		1.58		1323	508,625
	CLO 2012-1 subordinated notes(3)	18,000		12,843		14.55		3547	18,063		CLO 2012-1 senior secured notes	367,500		364,063		2.33		3637	365,662
	CLO 2013-1 senior secured notes	458,500		456,463		1.99		3759	488,482		CLO 2012-1 subordinated notes(3)	18,000		12,986		16.86		3637	17,910
	CLO 2013-2 senior secured notes	339,250		339,181		2.24		3951	360,116		CLO 2013-1 senior secured notes	458,500		441,153		9.6		3849	477,691
	CLO 9 senior secured notes	463,750		456,724		2.26		4216	470,211		CLO 2013-2 senior secured notes	339,250		331,383		2.21		4041	357,722
	CLO 9 subordinated notes(3)	15,000		13,602		—		4216	15,209		CLO 9 senior secured notes	463,750		449,349		2.28		4306	474,072
	CLO 10 senior notes	368,000		362,375		2.5		3912	388,721		CLO 9 subordinated notes(3)	15,000		13,531		—		4306	15,334
	Total collateralized loan obligation secured debt	5,242,167		5,255,834					5,808,735		CLO 10 senior notes	368,000		361,948		2.5		4002	343,090
	CLO warehouse facility(4)	50,000		50,000		1.52		37	222,827		Total collateralized loan obligation secured debt	5,580,364		5,501,099					6,528,921
	8.375% Senior notes	258,750		290,567		8.38		9726	—		8.375% Senior notes	258,750		290,861		8.38		9816	—
	7.500% Senior notes	115,043		123,585		7.5		9851	—		7.500% Senior notes	115,043		123,663		7.5		9941	—
	Junior subordinated notes	283,517		247,320		5.4		7859	—		Junior subordinated notes	283,517		246,907		5.39		7949	—
	Total borrowings	$	5,949,477	$	5,967,306				$	6,031,562	Total borrowings	$	6,237,674	$	6,162,530				$	6,528,921
	-1	Carrying value represents estimated fair value for the collateralized loan obligation secured debt and amortized cost for all other borrowings.									-1	Carrying value represents estimated fair value for the collateralized loan obligation secured debt and amortized cost for all other borrowings.
	-2	Collateral for borrowings consists of the estimated fair value of certain corporate loans, securities and equity investments at estimated fair value. For purposes of this table, collateral for CLO senior, mezzanine and subordinated notes are calculated pro rata based on the par amount for each respective CLO.									-2	Collateral for borrowings consists of the estimated fair value of certain corporate loans, securities and equity investments at estimated fair value. For purposes of this table, collateral for CLO senior, mezzanine and subordinated notes are calculated pro rata based on the par amount for each respective CLO.
	-3	Subordinated notes do not have a contractual coupon rate, but instead receive a pro rata amount of the net distributions from each respective CLO. Accordingly, weighted average borrowing rates for the subordinated notes were calculated based on annualized cash distributions during the year, if any.									-3	Subordinated notes do not have a contractual coupon rate, but instead receive a pro rata amount of the net distributions from each respective CLO. Accordingly, weighted average borrowing rates for the subordinated notes are based on cash distributions during the year ended December 31, 2014, if any.
	-4	Represents a $570.0 million CLO warehouse facility.

DERIVATIVE_INSTRUMENTS_Tables

DERIVATIVE INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
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 March 31, 2015 and December 31, 2014 (amounts in thousands):
		As of							As of
		31-Mar-15							December 31, 2014
		Notional				Estimated			Notional			Estimated
						Fair Value						Fair Value
	Free-Standing Derivatives:
	Interest rate swaps	$	332,667			$	(53,801	)	$	426,000		(54,071		)
	Foreign exchange forward contracts	(446,713		)		66,427			(442,181		)	27,428
	Common stock warrants	—				521			—			—
	Total rate of return swaps	—				(151		)	—			(130		)
	Options	—				4,309			—			5,212
	Total					$	17,305					$	(21,561	)
Schedule of effect on income from free-standing derivatives by derivative instrument type	The following table presents the amounts recorded in net realized and unrealized gain (loss) on derivatives and foreign exchange on the condensed consolidated statements of operations for the three months ended March 31, 2015 and 2014(amounts in thousands):
		Successor Company										Predecessor Company
		Three months ended March 31, 2015										Three months ended March 31, 2014
		Realized				Unrealized			Total			Realized			Unrealized			Total
		gains				gains						gains			gains
		(losses)				(losses)						(losses)			(losses)
	Interest rate swaps	$	(5,297	)		$	(244	)	$	(5,541	)	$	—		$	—		$	—
	Commodity swaps	—				—			—			(1,914		)	(3,667		)	(5,581		)
	Credit default swaps(1)	—				—			—			(2,167		)	1,986			(181		)
	Foreign exchange forward contracts and options(2)	15				(594		)	(579		)	(450		)	68			(382		)
	Common stock warrants	—				(1,891		)	(1,891		)	—			14			14
	Total rate of return swaps	(165		)		(21		)	(186		)	(1,943		)	114			(1,829		)
	Options	—				(903		)	(903		)	—			(411		)	(411		)
	Net realized and unrealized gains (losses)	$	(5,447	)		$	(3,653	)	$	(9,100	)	$	(6,474	)	$	(1,896	)	$	(8,370	)
	-1	Includes related income and expense on the derivatives.
	-2	Net of foreign exchange remeasurement gain or loss on foreign denominated assets.
Predecessor Company
Derivative Instruments
Schedule of net (losses) gains recognized in accumulated other comprehensive loss related to derivatives in cash flow hedging relationships	The following table presents the net gains (losses) recognized in other comprehensive income (loss) related to derivatives in cash flow hedging relationships for the three months ended March 31, 2014 (amounts in thousands):
			For the three
			months ended March 31, 2014
	Net gains (losses) recognized in accumulated other comprehensive income (loss) on cash flow hedges		$	(3,831	)

FAIR_VALUE_OF_FINANCIAL_INSTRU1

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Carrying value and the estimated fair value of the financial instruments
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 March 31, 2015, 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			March 31,
		for Identical			Observable			Inputs			2015
		Assets (Level 1)			Inputs (Level 2)			(Level 3)
	Assets:
	Securities:
	Corporate debt securities	$	—		$	230,424		$	307,911		$	538,335
	Residential mortgage-backed securities	—			—			53,935			53,935
	Total securities	—			230,424			361,846			592,270
	Corporate loans	—			5,695,338			336,186			6,031,524
	Equity investments, at estimated fair value	23,505			74,769			103,319			201,593
	Interests in joint ventures and partnerships, at estimated fair value	—			—			719,290			719,290
	Other assets	—			3,992			—			3,992
	Derivatives:
	Foreign exchange forward contracts	—			68,037			—			68,037
	Warrants	—			—			521			521
	Options	—			—			4,309			4,309
	Total derivatives	—			68,037			4,830			72,867
	Total	$	23,505		$	6,072,560		$	1,525,471		$	7,621,536
	Liabilities:
	Collateralized loan obligation secured notes	$	—		$	5,255,834		$	—		$	5,255,834
	Derivatives:
	Interest rate swaps	—			53,801			—			53,801
	Total rate of return swaps	—			151			—			151
	Foreign exchange forward contracts	—			1,610			—			1,610
	Total derivatives	—			55,562			—			55,562
	Total	$	—		$	5,311,396		$	—		$	5,311,396
	The following table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis as of December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (amounts in thousands):
		Quoted Prices in			Significant			Significant			Balance as of
		Active Markets			Other			Unobservable Inputs			December 31,
		for Identical			Observable			(Level 3)			2014
		Assets (Level 1)			Inputs (Level 2)
	Assets:
	Securities:
	Corporate debt securities	$	—		$	266,387		$	317,034		$	583,421
	Residential mortgage-backed securities	—			—			55,184			55,184
	Total securities	—			266,387			372,218			638,605
	Corporate loans	—			6,159,487			347,077			6,506,564
	Equity investments, at estimated fair value	25,692			73,967			81,719			181,378
	Interests in joint ventures and partnerships, at estimated fair value	—			—			718,772			718,772
	Other assets	—			4,645			—			4,645
	Derivatives:
	Foreign exchange forward contracts	—			28,354			—			28,354
	Options	—			—			5,212			5,212
	Total derivatives	—			28,354			5,212			33,566
	Total	$	25,692		$	6,532,840		$	1,524,998		$	8,083,530
	Liabilities:
	Collateralized loan obligation secured notes	—			—			5,501,099			5,501,099
	Derivatives:
	Interest rate swaps	—			54,071			—			54,071
	Foreign exchange forward contracts	—			926			—			926
	Total rate of return swaps	—			130			—			130
	Total derivatives	—			55,127			—			55,127
	Total	$	—		$	55,127		$	5,501,099		$	5,556,226
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 March 31, 2015 (amounts in thousands):
		Successor Company
		As of March 31, 2015						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	$	748,593		$	748,593		$	748,593		$	—		$	—
	Liabilities:
	Senior notes	414,152			415,435			415,435			—			—
	Junior subordinated notes	247,320			221,775			—			—			221,775
	The following table presents the carrying value and estimated fair value, as well as the respective hierarchy classifications, of the Company’s financial assets and liabilities that are not carried at estimated fair value on a recurring basis as of December 31, 2014 (amounts in thousands):
		Successor Company
		As of December 31, 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	$	610,912		$	610,912		$	610,912		$	—		$	—
	Liabilities:
	Senior notes	414,524			413,215			413,215			—			—
	Junior subordinated notes	246,907			228,087			—			—			228,087
Schedule of 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 three ended March 31, 2015 (amounts in thousands):
		Successor Company
		Assets																					Liabilities
		Corporate			Residential			Corporate			Equity			Interests in			Warrants			Options			Collateralized
		Debt			Mortgage-			Loans			Investments,			Joint									Loan
		Securities			Backed						at Estimated			Ventures and									Obligation
					Securities						Fair Value			Partnerships									Secured Notes
	Beginning balance as of January 1, 2015	$	317,034		$	55,184		$	347,077		$	81,719		$	718,772		$	—		$	5,212		$	5,501,099
	Total gains or losses (for the period):
	Included in earnings(1)	(3,996		)	1,776			(55,770		)	(23,327		)	(32,362		)	(1,891		)	(903		)	—
	Transfers into Level 3	—			—			—			—			—			—			—			—
	Transfers out of Level 3(2)	—			—			—			—			—			—			—			(5,501,099		)
	Purchases	—			—			1,308			—			35,537			—			—			—
	Sales	(4,213		)	—			(25,511		)	—			—			—			—			—
	Settlements	(914		)	(3,025		)	69,082			44,927			(2,657		)	2,412			—			—
	Ending balance as of March 31, 2015	$	307,911		$	53,935		$	336,186		$	103,319		$	719,290		$	521		$	4,309		$	—
	Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)	$	(9,354	)	$	153		$	(55,026	)	$	(22,961	)	$	(32,362	)	$	(1,891	)	$	(903	)	$	—
	-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. 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	CLO secured notes were transferred out of Level 3 due to the adoption of accounting guidance effective January 1, 2015, whereby the debt obligations of the Company's consolidated CLOs were measured on the basis of the estimated fair value of the financial assets of the CLOs. As such, as of March 31, 2015, these debt obligations were classified as Level 2. Refer to Note 2 to these condensed consolidated financial statement for further discussion.
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 March 31, 2015 (dollar amounts in thousands):
	Successor Company
		Balance as of			Valuation		Unobservable	Weighted		Range	Impact to
		March 31,			Techniques(1)		Inputs(2)	Average(3)			Valuation
		2015									from an
											Increase in
											Input(4)
	Assets:
	Corporate debt securities	$	307,911		Yield analysis		Yield	16%		4% - 19%	Decrease
							Net leverage	6x		5x-12x	Decrease
							EBITDA multiple	7x		6x - 10x	Increase
							Discount margin	920bps		625bps – 1200bps	Decrease
					Broker quotes		Offered quotes	101		101	Increase
					Discounted cash flows		Weighted average cost of capital	16%		16%	Decrease
	Residential mortgage – backed securities	$	53,935		Discounted cash flows		Probability of default	1%		0% - 3%	Decrease
							Loss severity	35%		30% - 50%	Decrease
							Constant prepayment rate	15%		12% - 18%	(5	)
	Corporate loans	$	336,186		Yield Analysis		Yield	12%		3% - 22%	Decrease
							Net leverage	6x		1x - 18x	Decrease
							EBITDA multiple	9x		5x - 15x	Increase
	Equity investments, at estimated fair value(6)	$	103,319		Inputs to both market comparables and		Illiquidity discount	12%		0% - 20%	Decrease
					discounted cash flow
							Weight ascribed to market comparables	72%		0% - 100%	(7	)
							Weight ascribed to discounted cash flows	28%		0% - 100%	(8	)
					Market comparables		LTM EBITDA multiple	4x		1x - 12x	Increase
							Forward EBITDA multiple	7x		4x - 11x	Increase
					Discounted cash flows		Weighted average cost of capital	14%		9% - 17%	Decrease
							LTM EBITDA exit multiple	6x		3x - 16x	Increase
	Interests in joint ventures and partnerships(9)	$	719,290		Inputs to both market comparables and discounted cash flow		Weight ascribed to market comparables	28%		0% - 100%	(7	)
							Weight ascribed to discounted cash flows	72%		50% - 100%	(8	)
					Market comparables		Current capitalization rate	7%		5% - 12%	Decrease
							LTM EBITDA multiple	9x		9x	Increase
					Discounted cash flows		Weighted average cost of capital	10%		7% - 18%	Decrease
							Average price per BOE(10)	$24.19		$18.18 - $26.93	Increase
					Yield analysis		Yield	19%		16% - 26%	Decrease
							Net leverage	5x		1x - 13x	Decrease
							EBITDA multiple	11x		10x - 13x	Increase
	Warrants	$	521		Discounted cash flows		Weighted average cost of capital	17%		17%	Decrease
							LTM EBITDA exit multiple	4x		4x	Increase
	Options(11)	$	4,309		Inputs to both market comparables and discounted cash flow		Illiquidity discount	10%		10%	Decrease
							Weight ascribed to market comparables	50%		50%	(7	)
							Weight ascribed to discounted cash flows	50%		50%	(8	)
		,			Market comparables		LTM EBITDA multiple	11x		11x	Increase
					Discounted cash flows		Weighted average cost of capital	15%		15%	Decrease
							LTM EBITDA exit multiple	9x		9x	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. Of the total equity investments, at estimated fair value, $7.0 million was valued solely using a discounted cash flow technique, while $60.5 million was valued solely using a market comparables technique.
	-7	The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level 3 investments if the market comparables approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach.
	-8	The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level 3 investments if the discounted cash flow approach results in a higher valuation than the market comparables approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach.
	-9	Inputs exclude an asset that was valued using an independent third party valuation firm. Of the total interest in joint ventures and partnerships, $198.6 million was valued solely using a discounted cash flow technique, while $25.7 million was valued solely using a market comparables technique and $35.8 million was valued solely using a yield analysis.
	-10	Natural resources assets with an estimated fair value of $175.8 million as of March 31, 2015 were valued using commodity prices.Commodity prices may be measured using a common volumetric equivalent where one barrel of oil equivalent (‘‘BOE’’) is determined using the ratio of six thousand cubic feet of natural gas to one barrel of oil, condensate or natural gas liquids. The price per BOE is provided to show the aggregate of all price inputs for these investments over a common volumetric equivalent although the valuations for specific investments may use price inputs specific to the asset for purposes of our valuations. The discounted cash flows include forecasted production of liquids (oil, condensate, and natural gas liquids) and natural gas with a forecasted revenue ratio of approximately 24% liquids and 76% natural gas.
	-11	The total options were valued using 50% a discount cash flow technique and 50% a market comparables technique.
Predecessor Company
Carrying value and the estimated fair value of the financial instruments
Schedule of 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 three months ended March 31, 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(2)	—			—			—			—			(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
	Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period(1)	$	22		$	3,059		$	3,739		$	3,205		$	8,156		$	22,377		$	(813	)	$	(302	)
	-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.
	-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, including derivatives, that are measured at fair value and categorized within Level 3 as of December 31, 2014 (dollar amounts in thousands):
	Predecessor Company
		Balance as of			Valuation		Unobservable	Weighted		Range	Impact to
		December 31,			Techniques(1)		Inputs(2)	Average(3)			Valuation
		2014									from an
											Increase in
											Input(4)
	Assets:
	Corporate debt securities	$	317,034		Yield analysis		Yield	17%		3% - 19%	Decrease
							Net leverage	6x		5x - 12x	Decrease
							EBITDA multiple	7x		4x - 11x	Increase
							Discount margin	905bps		625bps - 1100bps	Decrease
					Broker quotes		Offered quotes	101		101	Increase
	Residential mortgage-backed securities	$	55,184		Discounted cash flows		Probability of defaults	8%		0% - 21%	Decrease
							Loss severity	26%		12% - 45%	Decrease
							Constant prepayment rate	12%		4% - 19%	(5	)
	Corporate loans, at estimated fair value	$	347,077		Yield Analysis		Yield	12%		3% - 21%	Decrease
							Net leverage	6x		1x - 13x	Decrease
							EBITDA multiple	9x		5x - 12x	Increase
	Equity investments, at estimated fair value(6)	$	81,719		Inputs to both market comparables and discounted cash flow		Weight ascribed to market comparables	97%		0% - 100%	(7	)
							Weight ascribed to discounted cash flows	83%		0% - 100%	(8	)
					Market comparables		LTM EBITDA multiple	4x		1x - 12x	Decrease
							Forward EBITDA multiple	7x		4x - 11x	Increase
					Discounted cash flows		Weighted average cost of capital	13%		9% - 16%	Decrease
							LTM EBITDA exit multiple	8x		5x - 10x	Increase
	Interests in joint ventures and partnerships(9)	$	718,772		Inputs to both market comparables and discounted cash flow		Weight ascribed to market comparables	54%		0% - 100%	(7	)
							Weight ascribed to discounted cash flows	79%		0% - 100%	(8	)
					Market comparables		Current capitalization rate	7%		4% - 15%	Decrease
							LTM EBITDA multiple	11x		10x - 13x	Increase
							Control Premium	15%		15%	Increase
					Discounted cash flows		Weighted average cost of capital	12%		7% - 20%	Decrease
							Average Price per BOE(10)	$30.16		$21.46 - $35.67	Increase
	Options(11)	$	5,212		Inputs to both market comparables and discounted cash flow		Weight ascribed to market comparables	50%		50%	(7	)
							Weight ascribed to discounted cash flows	50%		50%	(8	)
					Market comparables		LTM EBITDA multiple	9x		9x	Increase
					Discounted cash flows		Weighted average cost of capital	14%		14%	Decrease
							LTM EBITDA exit multiple	11x		11x	Increase
	Liabilities:
	Collateralized loan obligation secured notes	$	5,501,099		Yield analysis		Discount margin	255bps		95bps - 1000bps	Decrease
					Discounted cash flows		Probability of default	3%		2% - 3%	Decrease
							Loss Severity	32%		30% - 37%	Decrease
	-1	For the assets that have more than one valuation technique, the Company may rely on the techniques individually or in aggregate based on a weight ascribed to each one ranging from 0-100%. When determining the weighting ascribed to each valuation methodology, the Company considers, among other factors, the availability of direct market comparables, the applicability of a discounted cash flow analysis and the expected hold period and manner of realization for the investment. These factors can result in different weightings among the investments and in certain instances, may result in up to a 100% weighting to a single methodology. Broker quotes obtained for valuation purposes are reviewed by the Company through other valuation techniques.
	-2	In determining certain of these inputs, management evaluates a variety of factors including economic conditions, industry and market developments; market valuations of comparable companies; and company specific developments including exit strategies and realization opportunities.
	-3	Weighted average amounts are based on the estimated fair values.
	-4	Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.
	-5	The impact of changes in prepayment speeds may have differing impacts depending on the seniority of the instrument. Generally, an increase in the constant prepayment speed will positively impact the overall valuation of traditional mortgage assets. In contrast, an increase in the constant prepayment rate will negatively impact the overall valuation of interest-only strips.
	-6	When determining the illiquidity discount to be applied to equity investments, at estimated fair value, the Company seeks to take a uniform approach across its portfolio and generally applies a minimum 5% discount to all private equity investments carried at estimated fair value. The Company then evaluates such investments to determine if factors exist that could make it more challenging to monetize the investment and, therefore, justify applying a higher illiquidity discount. These factors generally include the salability of the investment, whether the issuer is undergoing significant restructuring activity or similar factors, as well as characteristics about the issuer including its size and/or whether it is experiencing, or expected to experience, a significant decline in earnings. Depending on the applicability of these factors, the Company determines the amount of any incremental illiquidity discount to be applied above the 5% minimum, and during the time the Company holds the investment, the illiquidity discount may be increased or decreased, from time to time, based on changes to these factors. The amount of illiquidity discount applied at any time requires considerable judgment about what a market participant would consider and is based on the facts and circumstances of each individual investment. Accordingly, the illiquidity discount ultimately considered by a market participant upon the realization of any investment may be higher or lower than that estimated by the Company in its valuations. Of the total equity investments, at estimated fair value , $9.5 million was valued solely using a discounted cash flow technique, while $67.4 million was valued solely using a market comparables technique.
	-7	The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level 3 investments if the market comparables approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach.
	-8	The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level 3 investments if the discounted cash flow approach results in a higher valuation than the market comparables approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach.
	-9	Inputs exclude an asset that was valued using an independent third party valuation firm. Of the total interests in joint ventures and partnerships, $207.6 million was valued solely using a discounted cash flow technique, while $20.4 million was valued solely using a market comparables technique.
	-10	Natural resources assets with an estimated fair value of $176.4 million as of December 31, 2014 were valued using commodity prices.Commodity prices may be measured using a common volumetric equivalent where one barrel of oil equivalent (‘‘BOE’’) is determined using the ratio of six thousand cubic feet of natural gas to one barrel of oil, condensate or natural gas liquids. The price per BOE is provided to show the aggregate of all price inputs for these investments over a common volumetric equivalent although the valuations for specific investments may use price inputs specific to the asset for purposes of our valuations. The discounted cash flows include forecasted production of liquids (oil, condensate, and natural gas liquids) and natural gas with a forecasted revenue ratio of approximately 23% liquids and 77% natural gas.
	-11	The total options were valued using 50% a discount cash flow technique and 50% a market comparables technique.

SHAREHOLDERS_EQUITY_Tables

SHAREHOLDERS' EQUITY (Tables)	3 Months Ended
	Mar. 31, 2015
Equity [Abstract]
Schedule of restricted common share transactions	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 March 31, 2014	340,986		85,194		426,180
Schedule of common share option transactions	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 March 31, 2014	1,932,279		$	20
Schedule of share-based compensation expense	For the three months ended March 31, 2014, the components of share-based compensation expense are as follows (amounts in thousands):
		Predecessor Company
		For the three months ended March 31, 2014
	Restricted common shares granted to Manager	$	577
	Restricted common shares granted to certain directors	264
	Total share-based compensation expense	$	841

MANAGEMENT_AGREEMENT_AND_RELAT1

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2015
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 Company			Predecessor Company
		Three months ended			Three months ended
		31-Mar-15			31-Mar-14
	Base management fees, net	$	4,053		$	3,622
	CLO management fees	6,167			8,536
	Incentive fees	—			12,882
	Manager share-based compensation	—			577
	Total related party management compensation	$	10,220		$	25,617
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 Company			Predecessor Company
		Three months ended			Three months ended
		March 31, 2015			March 31, 2014
	Base management fees, gross	$	8,491		$	9,992
	CLO management fees credit(1)	(4,438		)	(6,370		)
	Other related party fees credit	—			—
	Total base management fees, net	$	4,053		$	3,622
	-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 Company			Predecessor Company
		Three months ended March 31, 2015			Three months ended March 31, 2014
	Charged and retained CLO management fees(1)	$	1,729		$	2,166
	CLO management fees credit	4,438			6,370
	Total CLO management fees	$	6,167		$	8,536
	-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)	3 Months Ended
	Mar. 31, 2015
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 our reportable segments reconciled to amounts reflected in the condensed consolidated balance sheets as of March 31, 2015 and December 31, 2014 (amounts in thousands):
		Credit						Natural Resources					Other					Reconciling				Total Consolidated(1)
																		Items
	As of	31-Mar-15			December 31,			31-Mar-15		December 31,			31-Mar-15			December 31,		31-Mar-15		December 31,		31-Mar-15		December 31,
					2014					2014						2014				2014				2014
	Total assets	$	8,202,142		$	8,438,227		$	297,169	$	300,281		$	227,853		$	213,006	$	—	$	111	$	8,727,164	$	8,951,625
	-1	Total consolidated assets as of March 31, 2015 included $96.2 million of noncontrolling interests, of which $56.8 million was related to the Credit segment and $39.4 million was related to the Natural Resources segment. Total consolidated assets as of December 31, 2014 included $100.2 million of noncontrolling interests, of which $62.7 million was related to the Credit segment and $37.4 million was related to the Natural Resources segment.
Successor Company
Segment reporting
Schedule showing net income (loss) components and total assets of reportable segments reconciled to amounts reflected in the condensed consolidated financial statements	The following tables present the net income (loss) components of our reportable segments reconciled to amounts reflected in the condensed consolidated statements of operations for the three months ended March 31, 2015 and 2014 (amounts in thousands):
		Successor Company
		Credit			Natural			Other		Reconciling Items(1)			Total Consolidated
					Resources
		Three months ended March 31, 2015			Three months ended March 31, 2015			Three months ended March 31, 2015		Three months ended March 31, 2015			Three months ended March 31, 2015
	Total revenues	$	94,958		$	2,828		$	—	$	—		$	97,786
	Total investment costs and expenses	55,967			1,340			346		—			57,653
	Total other income (loss)	(65,992		)	(7,753		)	4,581		—			(69,164		)
	Total other expenses	16,403			510			155		100			17,168
	Income tax expense (benefit)	48			—			299		—			347
	Net income (loss)	$	(43,452	)	$	(6,775	)	$	3,781	$	(100	)	$	(46,546	)
	Net income (loss) attributable to noncontrolling interests	(5,858		)	(213		)	—		—			(6,071		)
	Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries	$	(37,594	)	$	(6,562	)	$	3,781	$	(100	)	$	(40,475	)
	-1	Consists of insurance and directors’ expenses which are not allocated to individual segments.
Predecessor Company
Segment reporting
Schedule showing net income (loss) components and total assets of reportable segments reconciled to amounts reflected in the condensed consolidated financial statements
		Predecessor Company
		Credit			Natural Resources			Other		Reconciling			Total
										Items(1)			Consolidated
		Three months ended March 31, 2014			Three months ended March 31, 2014			Three months ended March 31, 2014		Three months ended March 31, 2014			Three months ended March 31, 2014
	Total revenues	$	96,562		$	44,028		$	—	$	—		$	140,590
	Total investment costs and expenses	45,873			27,576			321		—			73,770
	Total other income (loss)	64,516			(5,389		)	13,713		—			72,840
	Total other expenses	15,835			1,154			140		14,329			31,458
	Income tax expense (benefit)	19			—			—		—			19
	Net income (loss)	$	99,351		$	9,909		$	13,252	$	(14,329	)	$	108,183
	-1	Consists of certain expenses not allocated to individual segments including incentive fees of $12.9 million and insurance expenses, directors’ expenses and share-based compensation expense which are not allocated to individual segments.

EARNINGS_PER_COMMON_SHARE_Tabl

EARNINGS PER COMMON SHARE (Tables) (Predecessor Company)	3 Months Ended
	Mar. 31, 2015
Predecessor Company
Earnings per common share
Schedule of reconciliation of basic and diluted net (loss) income per common share	The following table presents a reconciliation of basic and diluted net income (loss) per common share for the Predecessor Company (amounts in thousands, except per share information):
			Predecessor Company
			Three months
			ended March 31, 2014
	Net income (loss)		$	108,183
	Less: Preferred share distributions		6,891
	Net income (loss) available to common shares		$	101,292
	Less: Dividends and undistributed earnings allocated to participating securities		309
	Net income (loss) allocated to common shares		$	100,983
	Basic:
	Basic weighted average common shares outstanding		204,236
	Net income (loss) per common share		$	0.49
	Diluted:
	Diluted weighted average common shares outstanding(1)		204,236
	Net income (loss) per common share		$	0.49
	Distributions declared per common share		$	0.22
	-1	Potential anti-dilutive common shares excluded from diluted earnings per share related to common share options were 1,932,279.

ACCUMULATED_OTHER_COMPREHENSIV1

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) (Predecessor Company)	3 Months Ended
	Mar. 31, 2015
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
		Three months ended March 31, 2014(1)
		Net unrealized			Net unrealized			Total
		gains on			losses on cash
		available-for-sale			flow hedges
		securities
	Beginning balance	$	23,567		$	(39,219	)	$	(15,652	)
	Other comprehensive loss before reclassifications	(303		)	(3,831		)	(4,134		)
	Amounts reclassified from accumulated other comprehensive loss(2)	(1,586		)	—			(1,586		)
	Net current-period other comprehensive loss	(1,889		)	(3,831		)	(5,720		)
	Ending balance	$	21,678		$	(43,050	)	$	(21,372	)
	-1	The Company’s gross and net of tax amounts are the same.
	-2	Includes an impairment charge of $2.9 million for investments which were determined to be other-than-temporary for the three months ended March 31, 2014. These reclassified amounts were included in net realized and unrealized gain (loss) on investments on the condensed consolidated statements of operations.

ORGANIZATION_Details

ORGANIZATION (Details)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Apr. 30, 2014
Series A LLC Preferred Shares
Definitive merger agreement
Preferred shares, dividend rate (as a percent)	7.38%
Predecessor Company | Series A LLC Preferred Shares
Definitive merger agreement
Preferred shares, dividend rate (as a percent)		7.38%
Predecessor Company | KFN | KKR & Co.
Definitive merger agreement
Stock exchange ratio to be applied in the merger transaction		0.51

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Successor Company
Collateralized Debt Obligation disclosures
Collateralized loan obligation secured notes	$5,949,477,000	$6,237,674,000
Successor Company | Collateralized Debt Obligation (CLOs) VIEs
Collateralized Debt Obligation disclosures
Corporate debt investment, par amount	6,000,000,000
Estimated fair value of corporate debt investments	5,800,000,000
Successor Company | Collateralized Debt Obligation (CLOs) VIEs | Nonaffiliates
Collateralized Debt Obligation disclosures
Collateralized loan obligation secured notes	5,200,000,000
Predecessor Company | Collateralized Debt Obligation (CLOs) VIEs
Collateralized Debt Obligation disclosures
Corporate debt investment, par amount		6,900,000,000
Estimated fair value of corporate debt investments		6,500,000,000
Predecessor Company | Collateralized Debt Obligation (CLOs) VIEs | Nonaffiliates
Collateralized Debt Obligation disclosures
Collateralized Loan Obligation Secured Notes		5,500,000,000
Accounting Standards Update 2014-13 | Successor Company
Collateralized Debt Obligation disclosures
Cumulative effect adjustment from adoption of accounting guidance	$1,900,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2)	3 Months Ended	4 Months Ended
	Mar. 31, 2015	Apr. 30, 2014
	method	grade
	approach	category
		component
Consolidation
Minimum percentage of voting interest required to consolidate non-VIEs	50.00%
Fair Value of Financial Instruments
Number of approaches used to determine fair value of investments (in approaches)	2
Corporate Loans
Period for determination of non-accrual status	90 days
Number of methods interest income recognized	2
Sustained period of repayment performance	6 months
Predecessor Company
Summary of corporate loans
Number of loan categories		3
Allowance for Loan Losses
Number of components in the loans receivable allowance for loan losses (in components)		2
Number of internally assigned risk grades		3

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 3) (Series A LLC Preferred Shares)	3 Months Ended
	Mar. 31, 2015
Series A LLC Preferred Shares
Preferred Shares
Preferred shares, dividend rate (as a percent)	7.38%

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

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_ACCOUNT6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 5) (KKR Fund Holdings)	Mar. 31, 2015
KKR Fund Holdings
Earnings per common share
Number of common shares held	100

MERGER_TRANSACTION_Details

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

SECURITIES_Details

SECURITIES (Details) (Successor Company, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Securities Available-for-Sale
Par	$670,121	$721,094
Amortized Cost	606,385	654,257
Estimated Fair Value	592,270	638,605
Net realized and unrealized gains
Net realized gains (losses)	-526
Net decrease in unrealized losses	1,834
Net realized and unrealized gains (losses)	1,308
Securities, at estimated fair value
Securities Available-for-Sale
Par	670,121	721,094
Amortized Cost	606,385	654,257
Estimated Fair Value	$592,270	$638,605

SECURITIES_Details_2

SECURITIES (Details 2) (Successor Company, Corporate Debt Securities, USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified	issuer	security
	security	issuer
Successor Company | Corporate Debt Securities
Gross unrealized losses and estimated fair value of available-for-sale securities
Number of issuers with corporate debt securities in default	1	1
Estimated fair value of corporate debt security in default	$6.90	$8.70
Number of corporate debt securities in default	1	1

SECURITIES_Details_3

SECURITIES (Details 3) (Successor Company, USD $)	0 Months Ended	12 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2015
Concentration risk
Securities	$592,270	$638,605	592,270
Number of issuers with whom a specified percentage of estimated fair value of corporate debt securities is concentrated (in issuers)	10	10	10
Number of largest issuers with whom a specified percentage of estimated fair value of debt securities is concentrated (in issuers)	3	3	3
Estimated fair value of securities pledged as collateral
Pledged as collateral for collateralized loan obligation secured debt	227,818	262,085	227,818
Total	227,818	262,085	227,818
Corporate Debt Securities | Percent to total investment in corporate loans, debt securities and other investments | Top three largest
Concentration risk
Concentration risk of total fair value (as a percent)	41.00%	37.00%
Securities	$219,100	$213,600	219,100
Corporate Debt Securities | Percent to total investment in corporate loans, debt securities and other investments | Ten issuers
Concentration risk
Concentration risk of total fair value (as a percent)		70.00%	73.00%

SECURITIES_Details_4

SECURITIES (Details 4) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2015	Dec. 31, 2014
	security
Troubled Debt Restructurings
Estimated fair value of new securities received from the security TDR exchange		$201,593,000	$181,378,000
Predecessor Company | Equity Investments, at Estimated Fair Value
Troubled Debt Restructurings
Estimated fair value of new securities received from the security TDR exchange	16,100,000
Number of securities modified as TDRs in default within a twelve month period subsequent to their original restructuring	0
Predecessor Company | Securities Available- For-Sale
Troubled Debt Restructurings
Modified amortized cost of security	24,100,000
Number of securities that qualified as TDRs	0
Securities Available- For-Sale | Predecessor Company
Troubled Debt Restructurings
Other-than-temporarily impaired loss	$2,900,000

CORPORATE_LOANS_AND_ALLOWANCE_2

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details) (Successor Company, USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Summary of corporate loans
Par	$6,304,720	$6,907,373
Amortized Cost	6,153,832	6,710,570
Estimated Fair Value	6,031,524	6,506,564
Corporate loans, at estimated fair value
Summary of corporate loans
Par	6,304,720	6,907,373
Amortized Cost	6,153,832	6,710,570
Estimated Fair Value	$6,031,524	$6,506,564

CORPORATE_LOANS_AND_ALLOWANCE_3

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 2) (Successor Company, Corporate loans, at estimated fair value, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Successor Company | Corporate loans, at estimated fair value
Net realized and unrealized (losses) gains
Net realized gains (losses)	($16,182)
Net decrease in unrealized losses	82,274
Net realized and unrealized gains (losses)	$66,092

CORPORATE_LOANS_AND_ALLOWANCE_4

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 3) (Successor Company, USD $)	Mar. 31, 2015	Dec. 31, 2014
In Millions, unless otherwise specified	issuer	issuer
	loan	loan
Recorded investment in impaired loans and related allowances for credit losses
Number of loans in default	4	4
Estimated fair value of corporate loans in default	$250	$266.90
Number of issuers in default	2	2
Corporate loans, at estimated fair value
Recorded investment in impaired loans and related allowances for credit losses
Par amount of non-accrual loans	452.9	580.1
Estimated fair value of non-accrual loans	268.5	342.1
Par amount of non-accrual and past due loans	410.2	410.2
Estimated fair value of past due loans	$250	$266.90

CORPORATE_LOANS_AND_ALLOWANCE_5

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 4) (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Concentration risk
Estimated fair value of corporate loans	6,031,524	6,506,564
Successor Company | Corporate Loans
Concentration risk
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
Successor Company | Corporate Loans | Percent to total investment in corporate loans, debt securities and other investments | Top Twenty Issuers
Concentration risk
Concentration risk (as a percent)	36.00%	38.00%
Successor Company | Corporate Loans | Percent to total investment in corporate loans, debt securities and other investments | Top three largest
Concentration risk
Concentration risk (as a percent)	10.00%	11.00%
Estimated fair value of corporate loans	613,700	700,400

CORPORATE_LOANS_AND_ALLOWANCE_6

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 5) (Successor Company, Estimated Fair Value, USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Successor Company | Estimated Fair Value
Pledged assets
Pledged as collateral for collateralized loan obligation secured debt	$5,564,728	$6,205,292
Total loans pledged as collateral	$5,564,728	$6,205,292

CORPORATE_LOANS_AND_ALLOWANCE_7

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 6) (Predecessor Company, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Allowance for loan losses:
Charge-offs	($1,500)
Corporate Loans
Allowance for loan losses:
Beginning balance	224,999
Provision for loan losses	0
Charge-offs	-1,458
Ending balance	$223,541

CORPORATE_LOANS_AND_ALLOWANCE_8

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 7) (Predecessor Company, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Predecessor Company
Average recorded investment in impaired loans and interest income recognized
Average Recorded Investment, with no related allowance recorded	$0
Average Recorded Investment, with an allowance recorded	476,011
Average Recorded Investment	476,011
Interest Income Recognized, with no related allowance recorded	0
Interest Income Recognized, with an allowance recorded	3,543
Interest Income Recognized	$3,543

CORPORATE_LOANS_AND_ALLOWANCE_9

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 8) (Predecessor Company, USD $)	3 Months Ended
	Mar. 31, 2014	Apr. 30, 2014
	class	component
Summary of corporate loans
Number of components in the loans receivable allowance for loan losses (in components)		2
Number of classifications of non-accrual loans	3
Interest income recognized using cash basis method	$4,200,000
Corporate loans transferred from held for investment to held for sale	238,115,000
Corporate loans transferred from held for sale to held for investment	0
Net charge for lower of cost or estimated fair value adjustment	-8,351,000
Corporate Loans
Summary of corporate loans
Interest income recognized using cash basis method	3,500,000
Corporate loans transferred from held for investment to held for sale	238,100,000
Corporate Loans Held for Sale
Summary of corporate loans
Interest income recognized using cash basis method	600,000
Net charge for lower of cost or estimated fair value adjustment	8,400,000
Corporate loans held for sale	510,700,000
Corporate loans, at estimated fair value
Summary of corporate loans
Interest income recognized using cash basis method	$100,000

Recovered_Sheet1

CORPORATE LOANS AND ALLOWANCE FOR LOAN LOSSES (Details 9) (Predecessor Company, USD $)	3 Months Ended
	Mar. 31, 2014
	issuer
	loan
Troubled debt restructurings:
Troubled debt restructurings on a recorded investment basis	$80,300,000
Number of issuers related to recorded investment balance (in issuers)	4
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	55,300,000
Specific reserves allocated to the issuer	22,100,000
Pre-modification outstanding recorded investment	195,422,000
Post-modification outstanding recorded investment	24,571,000
Number of issuers troubled debt restructurings	2
Higher coupon rate for extended period (as a percent)	4.00%
Charge-offs recorded related to TDR's	1,100,000
Charge-offs related to TDR's as a percentage of charge-offs related to loans and losses (in percentage)	76.00%
Charge-offs recorded	1,500,000
Lending commitment to borrower whose loans had been modified in the troubled debt restructuring	0
Number of loans modified as TDRs in default	0
Modified amortized cost of corporate loans that did not qualify as TDRs	1,000,000,000
Minimum
Troubled debt restructurings:
Financing Receivable Modifications Extension Period of Maturity Date	3 years
Maximum
Troubled debt restructurings:
Financing Receivable Modifications Extension Period of Maturity Date	5 years
Corporate Loans
Troubled debt restructurings:
Number of TDRs (in issuers)	1
Pre-modification outstanding recorded investment	154,075,000
Post-modification outstanding recorded investment	0
Estimated fair value of equity received from the TDRs excluded from post-modification outstanding recorded investment	92,000,000
Number of TDRs identified as impaired (in issuers)	1
Corporate loans, at estimated fair value
Troubled debt restructurings:
Number of TDRs (in issuers)	2
Pre-modification outstanding recorded investment	41,347,000
Post-modification outstanding recorded investment	24,571,000
Estimated fair value of equity received from the TDRs excluded from post-modification outstanding recorded investment	$12,300,000
Number of loans carried at estimated fair value	2

NATURAL_RESOURCES_ASSETS_Detai

NATURAL RESOURCES ASSETS (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2014	Dec. 31, 2014
Oil and natural gas properties
Oil and gas properties, net	$119,272,000			$120,274,000
Successor Company
Oil and natural gas properties
Proved oil and natural gas properties (successful efforts method)	128,800,000			128,800,000
Less: Accumulated depreciation, depletion and amortization	-9,528,000			-8,526,000
Oil and gas properties, net	119,272,000			120,274,000
Interests in joint ventures and partnerships	44,600,000
Aggregate value of private equity, natural resources assets distributed to Parent		179,200,000
Amount capitalized from purchases of natural resource assets	0
Predecessor Company
Oil and natural gas properties
Amount capitalized from purchases of natural resource assets			$41,000,000

EQUITY_METHOD_INVESTMENTS_Deta

EQUITY METHOD INVESTMENTS - (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]
Revenues	$15,243	$8,013
Expenses	4,534	2,138
Net income (loss)	($15,589)	$8,814

BORROWINGS_Details

BORROWINGS (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Sep. 16, 2014	Dec. 18, 2014
Details of Company's borrowings
Carrying value	$5,255,834,000	$5,501,099,000
Successor Company
Details of Company's borrowings
Total borrowings	5,949,477,000	6,237,674,000
Total borrowings, carrying value	5,967,306,000	6,162,530,000
Collateral amount	6,031,562,000	6,528,921,000
Successor Company | CLO 2005-1 senior secured notes
Details of Company's borrowings
Par	185,604,000	192,384,000
Carrying value	187,166,000	192,260,000
Weighted Average Borrowing Rate (as a percent)	1.90%	1.84%
Weighted Average Remaining Maturity (in days)	757 days	847 days
Collateral amount	204,052,000	224,716,000
Successor Company | CLO 2005-2 senior secured notes
Details of Company's borrowings
Par	221,222,000	242,928,000
Carrying value	224,521,000	242,365,000
Weighted Average Borrowing Rate (as a percent)	0.72%	0.68%
Weighted Average Remaining Maturity (in days)	971 days	1061 days
Collateral amount	337,201,000	381,362,000
Successor Company | CLO 2006-1 senior secured notes
Details of Company's borrowings
Par		166,841,000
Carrying value		166,710,000
Weighted Average Borrowing Rate (as a percent)		1.28%
Weighted Average Remaining Maturity (in days)		1333 days
Collateral amount		400,165,000
Successor Company | CLO 2007-1 senior secured notes
Details of Company's borrowings
Par	1,765,059,000	1,906,409,000
Carrying value	1,794,221,000	1,891,228,000
Weighted Average Borrowing Rate (as a percent)	0.84%	0.80%
Weighted Average Remaining Maturity (in days)	2237 days	2327 days
Collateral amount	1,924,255,000	2,182,078,000
Successor Company | CLO 2007-1 mezzanine notes
Details of Company's borrowings
Par	489,723,000	489,723,000
Carrying value	497,814,000	486,575,000
Weighted Average Borrowing Rate (as a percent)	3.86%	3.84%
Weighted Average Remaining Maturity (in days)	2237 days	2327 days
Collateral amount	533,893,000	560,538,000
Successor Company | CLO 2007-1 subordinated notes
Details of Company's borrowings
Par	134,468,000	134,468,000
Carrying value	115,521,000	119,112,000
Weighted Average Borrowing Rate (as a percent)	16.31%	13.75%
Weighted Average Remaining Maturity (in days)	2237 days	2327 days
Collateral amount	146,596,000	153,912,000
Successor Company | CLO 2007-A subordinated notes
Details of Company's borrowings
Par	15,096,000	15,096,000
Carrying value	24,739,000	25,921,000
Weighted Average Borrowing Rate (as a percent)	6.73%	88.02%
Weighted Average Remaining Maturity (in days)	929 days	1019 days
Collateral amount	63,829,000	66,044,000
Successor Company | CLO 2011-1 senior debt
Details of Company's borrowings
Par	400,995,000	402,515,000
Carrying value	400,995,000	402,515,000
Weighted Average Borrowing Rate (as a percent)	1.61%	1.58%
Weighted Average Remaining Maturity (in days)	1233 days	1323 days
Collateral amount	489,314,000	508,625,000
Successor Company | CLO 2012-1 senior secured notes
Details of Company's borrowings
Par	367,500,000	367,500,000
Carrying value	369,669,000	364,063,000
Weighted Average Borrowing Rate (as a percent)	2.36%	2.33%
Weighted Average Remaining Maturity (in days)	3547 days	3637 days
Collateral amount	368,793,000	365,662,000
Successor Company | CLO 2012-1 subordinated notes
Details of Company's borrowings
Par	18,000,000	18,000,000
Carrying value	12,843,000	12,986,000
Weighted Average Borrowing Rate (as a percent)	14.55%	16.86%
Weighted Average Remaining Maturity (in days)	3547 days	3637 days
Collateral amount	18,063,000	17,910,000
Successor Company | CLO 2013-1 senior secured notes
Details of Company's borrowings
Par	458,500,000	458,500,000
Carrying value	456,463,000	441,153,000
Weighted Average Borrowing Rate (as a percent)	1.99%	9.60%
Weighted Average Remaining Maturity (in days)	3759 days	3849 days
Collateral amount	488,482,000	477,691,000
Successor Company | CLO 2013-2 senior secured notes
Details of Company's borrowings
Par	339,250,000	339,250,000
Carrying value	339,181,000	331,383,000
Weighted Average Borrowing Rate (as a percent)	2.24%	2.21%
Weighted Average Remaining Maturity (in days)	3951 days	4041 days
Collateral amount	360,116,000	357,722,000
Successor Company | CLO 9 senior secured notes
Details of Company's borrowings
Par	463,750,000	463,750,000	463,800,000
Carrying value	456,724,000	449,349,000
Weighted Average Borrowing Rate (as a percent)	2.26%	2.28%
Weighted Average Remaining Maturity (in days)	4216 days	4306 days
Collateral amount	470,211,000	474,072,000
Successor Company | CLO 9 subordinated notes
Details of Company's borrowings
Par	15,000,000	15,000,000	15,000,000
Carrying value	13,602,000	13,531,000
Weighted Average Borrowing Rate (as a percent)	0.00%	0.00%
Weighted Average Remaining Maturity (in days)	4216 days	4306 days
Collateral amount	15,209,000	15,334,000
Successor Company | CLO 10 senior notes
Details of Company's borrowings
Par	368,000,000	368,000,000		368,000,000
Carrying value	362,375,000	361,948,000
Weighted Average Borrowing Rate (as a percent)	2.50%	2.50%
Weighted Average Remaining Maturity (in days)	3912 days	4002 days
Collateral amount	388,721,000	343,090,000
Successor Company | Collaterized loan obligation secured notes
Details of Company's borrowings
Par	5,242,167,000	5,580,364,000
Carrying value	5,255,834,000	5,501,099,000
Collateral amount	5,808,735,000	6,528,921,000
Successor Company | CLO 11 Warehouse Facility
Details of Company's borrowings
Par	50,000,000
Carrying value	50,000,000
Weighted Average Borrowing Rate (as a percent)	1.52%
Weighted Average Remaining Maturity (in days)	37 days
Collateral amount	222,827,000
Successor Company | 8.375% Senior notes
Details of Company's borrowings
Par	258,750,000	258,750,000
Carrying value	290,567,000	290,861,000
Weighted Average Borrowing Rate (as a percent)	8.38%	8.38%
Weighted Average Remaining Maturity (in days)	9726 days	9816 days
Successor Company | 7.500% Senior notes
Details of Company's borrowings
Par	115,043,000	115,043,000
Carrying value	123,585,000	123,663,000
Weighted Average Borrowing Rate (as a percent)	7.50%	7.50%
Weighted Average Remaining Maturity (in days)	9851 days	9941 days
Successor Company | Junior subordinated notes
Details of Company's borrowings
Par	283,517,000	283,517,000
Carrying value	$247,320,000	$246,907,000
Weighted Average Borrowing Rate (as a percent)	5.40%	5.39%
Weighted Average Remaining Maturity (in days)	7859 days	7949 days

BORROWINGS_Details_2

BORROWINGS (Details 2) (USD $)	3 Months Ended	1 Months Ended	12 Months Ended	0 Months Ended			3 Months Ended	0 Months Ended
	Mar. 31, 2015	Feb. 28, 2015	Dec. 31, 2014	Sep. 16, 2014	Dec. 18, 2014	Mar. 02, 2015	Mar. 31, 2014	Jan. 23, 2014	7-May-15
Details of Company's borrowings
Fixed rate (as a percent)					4.90%
Successor Company
Details of Company's borrowings
Collateralized loan obligation secured debt repaid	$338,197,000
Successor Company | Senior Notes Non-Called Legacy CLO
Details of Company's borrowings
Collateralized loan obligation secured debt repaid	169,800,000
Successor Company | CLO 2006-1 senior secured notes
Details of Company's borrowings
Extinguishment of Debt, Amount		181,800,000
Derivative, Notional Amount, Terminated		84,000,000
Par amount of notes issued			166,841,000
Successor Company | CLO 2007-A senior secured an junior secured mezzanine notes
Details of Company's borrowings
Collateralized loan obligation secured debt repaid			494,900,000
Successor Company | CLO 2011-1 senior debt
Details of Company's borrowings
Par amount of notes issued	400,995,000		402,515,000
Successor Company | CLO 2013-2 senior secured notes
Details of Company's borrowings
Par amount of notes issued	339,250,000		339,250,000
Successor Company | CLO 2013-1 senior secured notes
Details of Company's borrowings
Par amount of notes issued	458,500,000		458,500,000
Successor Company | CLO 9 notes
Details of Company's borrowings
Par amount of notes issued				518,000,000
Successor Company | CLO 9 senior secured notes
Details of Company's borrowings
Par amount of notes issued	463,750,000		463,750,000	463,800,000
Successor Company | CLO 9 senior secured notes | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)				2.01%
Successor Company | CLO 9 subordinated notes
Details of Company's borrowings
Par amount of notes issued	15,000,000		15,000,000	15,000,000
Successor Company | CLO 10 notes
Details of Company's borrowings
Par amount of notes issued					415,600,000
Successor Company | CLO 10 senior notes
Details of Company's borrowings
Par amount of notes issued	368,000,000		368,000,000		368,000,000
Successor Company | CLO 10 senior notes | Nonaffiliates
Details of Company's borrowings
Floating rate senior secured note					343,000,000
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)					2.09%
Fixed rate senior secured note					25,000,000
Successor Company | CLO 11 Warehouse Facility
Details of Company's borrowings
Par amount of notes issued	50,000,000
Successor Company | CLO 11 Warehouse Facility | LIBOR
Details of Company's borrowings
Debt, variable interest rate basis						LIBOR
Predecessor Company
Details of Company's borrowings
Collateralized loan obligation secured debt repaid							54,449,000
Predecessor Company | Senior Notes Non-Called Legacy CLO
Details of Company's borrowings
Collateralized loan obligation secured debt repaid							54,400,000
Predecessor Company | CLO 2011-1 senior debt
Details of Company's borrowings
Collateralized loan obligation secured debt repaid	1,500,000						0
Predecessor Company | CLO 2007-1 Class E secured notes
Details of Company's borrowings
Proceeds from senior notes							21,900,000
Par amount of notes issued							21,900,000
Predecessor Company | CLO 2007-A Class G secured notes
Details of Company's borrowings
Proceeds from senior notes							30,200,000
Par amount of notes issued							29,800,000
Predecessor Company | CLO 2007-A Class H secured notes
Details of Company's borrowings
Proceeds from senior notes							30,100,000
Par amount of notes issued							29,800,000
Predecessor Company | CLO 2013-2 senior secured notes
Details of Company's borrowings
Par amount of notes issued								384,000,000
Predecessor Company | CLO 2013-2 senior secured notes | Nonaffiliates
Details of Company's borrowings
Par amount of notes issued								339,300,000
Floating rate senior secured note								319,300,000
Debt, variable interest rate basis								three-month LIBOR
Fixed rate senior secured note								20,000,000
Fixed rate (as a percent)								3.74%
Predecessor Company | CLO 2013-2 senior secured notes | Nonaffiliates | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)								2.16%
Subsequent Event | Successor Company | CLO 11 Notes
Details of Company's borrowings
Par amount of notes issued									564,500,000
Subsequent Event | Successor Company | CLO 11 senior secured notes | Nonaffiliates
Details of Company's borrowings
Par amount of notes issued									507,800,000
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)									2.06%
Subsequent Event | Successor Company | CLO 11 subordinated notes | Nonaffiliates
Details of Company's borrowings
Par amount of notes issued									$28,300,000

BORROWINGS_Details_3

BORROWINGS (Details 3) (USD $)	0 Months Ended
	Mar. 02, 2015	Apr. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Details of Company's borrowings
Amount outstanding			$50,000,000	$0
Successor Company | CLO 11 Warehouse Facility
Details of Company's borrowings
Line of Credit Facility, Maximum Borrowing Capacity	570,000,000
Amount outstanding			50,000,000
Successor Company | CLO 11 Warehouse Facility | LIBOR
Details of Company's borrowings
Debt, variable interest rate basis	LIBOR
Subsequent Event | Successor Company | CLO 11 Warehouse Facility
Details of Company's borrowings
Proceeds from Lines of Credit		$140,000,000
Minimum | Successor Company | CLO 11 Warehouse Facility | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)	1.25%
Maximum | Successor Company | CLO 11 Warehouse Facility | LIBOR
Details of Company's borrowings
Percentage of margin added to reference rate to determine interest rate on debt (in percentage)	1.75%

DERIVATIVE_INSTRUMENTS_Details

DERIVATIVE INSTRUMENTS (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Successor Company
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value	$17,305
Predecessor Company
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value		-21,561
Free-Standing Derivatives: | Successor Company | Interest rate swaps
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Notional amount	332,667
Estimated Fair Value	-53,801
Free-Standing Derivatives: | Successor Company | Foreign exchange forward contracts
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Notional amount	-446,713
Estimated Fair Value	66,427
Free-Standing Derivatives: | Successor Company | Common stock warrants
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value	521
Free-Standing Derivatives: | Successor Company | Total rate of return swaps
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value	-151
Free-Standing Derivatives: | Successor Company | Options
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value	4,309
Free-Standing Derivatives: | Predecessor Company | Interest rate swaps
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Notional amount		426,000
Estimated Fair Value		-54,071
Free-Standing Derivatives: | Predecessor Company | Foreign exchange forward contracts
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Notional amount		-442,181
Estimated Fair Value		27,428
Free-Standing Derivatives: | Predecessor Company | Common stock warrants
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value		0
Free-Standing Derivatives: | Predecessor Company | Total rate of return swaps
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value		-130
Free-Standing Derivatives: | Predecessor Company | Options
Summary of aggregate notional amount and estimated net fair value of the derivative instruments
Estimated Fair Value		$5,212

DERIVATIVE_INSTRUMENTS_Details1

DERIVATIVE INSTRUMENTS (Details 2) (Predecessor Company, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Predecessor Company
Net (losses) gains recognized in accumulated other comprehensive loss on cash flow hedges
Net gains (losses) recognized in accumulated other comprehensive income (loss) on cash flow hedges	($3,831)

DERIVATIVE_INSTRUMENTS_Details2

DERIVATIVE INSTRUMENTS (Details 3) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Notional amount
Derivative liabilities	$55,562,000	$55,127,000
Successor Company | Foreign exchange options and forward contracts
Notional amount
Notional amount of liability	446,700,000	442,200,000
Counterparty One
Notional amount
Derivative Asset, Fair Value, Amount Offset Against Collateral	3,000,000
Derivative Asset, Collateral, Obligation to Return Cash, Offset	26,600,000
Counterparty Two
Notional amount
Derivative Asset, Fair Value, Amount Offset Against Collateral	1,100,000
Derivative Asset, Collateral, Obligation to Return Cash, Offset	11,500,000
Counterparty Three
Notional amount
Derivative Asset, Fair Value, Amount Offset Against Collateral	7,000,000
Derivative Asset, Collateral, Obligation to Return Cash, Offset	16,700,000
Free-Standing Derivatives: | Successor Company | Interest rate swaps
Notional amount
Notional	332,700,000	426,000,000
Cash Flow Hedges: | Predecessor Company | Interest rate swaps
Notional amount
Notional			$469,300,000

DERIVATIVE_INSTRUMENTS_Details3

DERIVATIVE INSTRUMENTS (Details 4) (Free-Standing Derivatives:, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Successor Company
Effect on income from free-standing derivatives
Realized gains (losses)	($5,447)
Unrealized gains (losses)	-3,653
Total	-9,100
Successor Company | Interest rate swaps
Effect on income from free-standing derivatives
Realized gains (losses)	-5,297
Unrealized gains (losses)	-244
Total	-5,541
Successor Company | Commodity swaps
Effect on income from free-standing derivatives
Realized gains (losses)	0
Unrealized gains (losses)	0
Total	0
Successor Company | Credit Default Swaps
Effect on income from free-standing derivatives
Realized gains (losses)	0
Unrealized gains (losses)	0
Total	0
Successor Company | Foreign exchange options and forward contracts
Effect on income from free-standing derivatives
Realized gains (losses)	15
Unrealized gains (losses)	-594
Total	-579
Successor Company | Common stock warrants
Effect on income from free-standing derivatives
Realized gains (losses)	0
Unrealized gains (losses)	-1,891
Total	-1,891
Successor Company | Total rate of return swaps
Effect on income from free-standing derivatives
Realized gains (losses)	-165
Unrealized gains (losses)	-21
Total	-186
Successor Company | Options
Effect on income from free-standing derivatives
Realized gains (losses)	0
Unrealized gains (losses)	-903
Total	-903
Predecessor Company
Effect on income from free-standing derivatives
Realized gains (losses)		-6,474
Unrealized gains (losses)		-1,896
Total		-8,370
Predecessor Company | Interest rate swaps
Effect on income from free-standing derivatives
Realized gains (losses)		0
Unrealized gains (losses)		0
Total		0
Predecessor Company | Commodity swaps
Effect on income from free-standing derivatives
Realized gains (losses)		-1,914
Unrealized gains (losses)		-3,667
Total		-5,581
Predecessor Company | Credit Default Swaps
Effect on income from free-standing derivatives
Realized gains (losses)		-2,167
Unrealized gains (losses)		1,986
Total		-181
Predecessor Company | Foreign exchange options and forward contracts
Effect on income from free-standing derivatives
Realized gains (losses)		-450
Unrealized gains (losses)		68
Total		-382
Predecessor Company | Common stock warrants
Effect on income from free-standing derivatives
Realized gains (losses)		0
Unrealized gains (losses)		14
Total		14
Predecessor Company | Total rate of return swaps
Effect on income from free-standing derivatives
Realized gains (losses)		-1,943
Unrealized gains (losses)		114
Total		-1,829
Predecessor Company | Options
Effect on income from free-standing derivatives
Realized gains (losses)		0
Unrealized gains (losses)		-411
Total		($411)

FAIR_VALUE_OF_FINANCIAL_INSTRU2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Liabilities:
Senior notes	$414,152	$414,524
Junior subordinated notes	247,320	246,907
Successor Company | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Cash, restricted cash, and cash equivalents	748,593	610,912
Liabilities:
Senior notes	415,435	413,215
Successor Company | Significant Unobservable Inputs (Level 3)
Liabilities:
Junior subordinated notes	221,775	228,087
Successor Company | Carrying Amount
Assets:
Cash, restricted cash, and cash equivalents	748,593	610,912
Liabilities:
Senior notes	414,152	414,524
Junior subordinated notes	247,320	246,907
Successor Company | Estimated Fair Value
Assets:
Cash, restricted cash, and cash equivalents	748,593	610,912
Liabilities:
Senior notes	415,435	413,215
Junior subordinated notes	$221,775	$228,087

FAIR_VALUE_OF_FINANCIAL_INSTRU3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 2) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Assets:
Total securities	$592,270	$638,605
Corporate loans	6,031,524	6,506,564
Equity investments, at estimated fair value	201,593	181,378
Interests in joint ventures and partnerships, at estimated fair value	719,290	718,772
Derivatives:
Derivative assets	72,867	33,566
Derivatives:
Total derivative liabilities	55,562	55,127
Successor Company
Assets:
Corporate debt securities	592,270	638,605
Liabilities:
Collateralized loan obligation secured notes	5,949,477	6,237,674
Successor Company | Recurring basis | Estimated Fair Value
Assets:
Total securities	592,270	638,605
Corporate loans	6,031,524	6,506,564
Equity investments, at estimated fair value	201,593	181,378
Interests in joint ventures and partnerships, at estimated fair value	719,290	718,772
Other assets	3,992	4,645
Derivatives:
Derivative assets	72,867	33,566
Total	7,621,536	8,083,530
Liabilities:
Collateralized loan obligation secured notes	5,255,834	5,501,099
Derivatives:
Total derivative liabilities	55,562	55,127
Total	5,311,396	5,556,226
Successor Company | Recurring basis | Estimated Fair Value | Residential Mortgage- Backed Securities
Assets:
Residential mortgage-backed securities	53,935	55,184
Successor Company | Recurring basis | Estimated Fair Value | Corporate Debt Securities
Assets:
Corporate debt securities	538,335	583,421
Successor Company | Recurring basis | Estimated Fair Value | Interest rate swaps
Derivatives:
Derivative liabilities	53,801	54,071
Successor Company | Recurring basis | Estimated Fair Value | Total rate of return swaps
Derivatives:
Derivative liabilities	151	130
Successor Company | Recurring basis | Estimated Fair Value | Foreign exchange forward contracts
Derivatives:
Derivative assets	68,037	28,354
Derivatives:
Derivative liabilities	1,610	926
Successor Company | Recurring basis | Estimated Fair Value | Common stock warrants
Derivatives:
Derivative assets	521
Successor Company | Recurring basis | Estimated Fair Value | Options
Derivatives:
Derivative assets	4,309	5,212
Successor Company | Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets:
Equity investments, at estimated fair value	23,505	25,692
Interests in joint ventures and partnerships, at estimated fair value		0
Derivatives:
Total	23,505	25,692
Successor Company | Recurring basis | Significant Other Observable Inputs (Level 2)
Assets:
Total securities	230,424	266,387
Corporate loans	5,695,338	6,159,487
Equity investments, at estimated fair value	74,769	73,967
Interests in joint ventures and partnerships, at estimated fair value	0
Other assets	3,992	4,645
Derivatives:
Derivative assets	68,037	28,354
Total	6,072,560	6,532,840
Liabilities:
Collateralized loan obligation secured notes	5,255,834	0
Derivatives:
Total derivative liabilities	55,562	55,127
Total	5,311,396	55,127
Successor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Corporate Debt Securities
Assets:
Corporate debt securities	230,424	266,387
Successor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Interest rate swaps
Derivatives:
Derivative liabilities	53,801	54,071
Successor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Total rate of return swaps
Derivatives:
Derivative liabilities	151	130
Successor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Foreign exchange forward contracts
Derivatives:
Derivative assets	68,037	28,354
Derivatives:
Derivative liabilities	1,610	926
Successor Company | Recurring basis | Significant Other Observable Inputs (Level 2) | Common stock warrants
Derivatives:
Derivative assets	0
Successor Company | Recurring basis | Significant Unobservable Inputs (Level 3)
Assets:
Total securities	361,846	372,218
Corporate loans	336,186	347,077
Equity investments, at estimated fair value	103,319	81,719
Interests in joint ventures and partnerships, at estimated fair value	719,290	718,772
Derivatives:
Derivative assets	4,830	5,212
Total	1,525,471	1,524,998
Liabilities:
Collateralized loan obligation secured notes	0	5,501,099
Derivatives:
Total derivative liabilities		0
Total	0	5,501,099
Successor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Residential Mortgage- Backed Securities
Assets:
Residential mortgage-backed securities	53,935	55,184
Successor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Corporate Debt Securities
Assets:
Corporate debt securities	307,911	317,034
Successor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Common stock warrants
Derivatives:
Derivative assets	521
Successor Company | Recurring basis | Significant Unobservable Inputs (Level 3) | Options
Derivatives:
Derivative assets	$4,309	$5,212

FAIR_VALUE_OF_FINANCIAL_INSTRU4

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 3) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Successor Company
Reconciliation of liabilities measured on Level 3 basis
Transfers from Level 1 into Level 2	$0
Transfers from Level 2 into Level 1	0
Successor Company | Collateralized Loan Obligation Secured Notes
Reconciliation of liabilities measured on Level 3 basis
Beginning balance as of January 1, 2015	5,501,099
Transfers out of level 3	-5,501,099
Ending balance as of March 31, 2015	0
Change in unrealized gains or losses for the period included in earnings for liabilities held at the end of the reporting period	0
Successor Company | Corporate Debt Securities
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	317,034
Included in earnings	-3,996
Purchases	0
Sales	-4,213
Settlements	-914
Balance at the end of the period	307,911
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-9,354
Successor Company | Residential Mortgage- Backed Securities
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	55,184
Included in earnings	1,776
Settlements	-3,025
Balance at the end of the period	53,935
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	153
Successor Company | Corporate loans, at estimated fair value
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	347,077
Included in earnings	-55,770
Purchases	1,308
Sales	-25,511
Settlements	69,082
Balance at the end of the period	336,186
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-55,026
Successor Company | Equity Investments, at Estimated Fair Value
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	81,719
Included in earnings	-23,327
Settlements	44,927
Balance at the end of the period	103,319
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-22,961
Successor Company | Interests in Joint Ventures and Partnerships
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	718,772
Included in earnings	-32,362
Purchases	35,537
Settlements	-2,657
Balance at the end of the period	719,290
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-32,362
Successor Company | Common stock warrants
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	0
Included in earnings	-1,891
Settlements	2,412
Balance at the end of the period	521
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-1,891
Successor Company | Options
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period	5,212
Included in earnings	-903
Balance at the end of the period	4,309
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period	-903
Predecessor Company
Reconciliation of liabilities measured on Level 3 basis
Transfers from Level 1 into Level 2		0
Transfers from Level 2 into Level 1		0
Predecessor Company | Securities Available- For-Sale
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		23,401
Included in earnings		22
Included in other comprehensive income		121
Settlements		-16
Balance at the end of the period		23,528
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period		22
Predecessor Company | Other Securities, at Estimated Fair Value
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		107,530
Included in earnings		3,059
Purchases		25,000
Settlements		-10,078
Balance at the end of the period		125,511
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period		3,059
Predecessor Company | Residential Mortgage- Backed Securities
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		76,004
Included in earnings		3,088
Sales		-17,810
Settlements		-2,529
Balance at the end of the period		58,753
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period		3,739
Predecessor Company | Corporate loans, at estimated fair value
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		152,800
Included in earnings		-5,123
Purchases		8,822
Settlements		-3,104
Balance at the end of the period		153,395
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period		3,205
Predecessor Company | Equity Investments, at Estimated Fair Value
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		138,059
Included in earnings		9,076
Transfers out of Level 3		-8,751
Settlements		120,593
Balance at the end of the period		258,977
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period		8,156
Predecessor Company | Interests in Joint Ventures and Partnerships
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		415,247
Included in earnings		22,377
Purchases		42,683
Settlements		14,113
Balance at the end of the period		494,420
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period		22,377
Predecessor Company | Foreign Exchange Options, Net
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		8,941
Included in earnings		-813
Balance at the end of the period		8,128
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period		-813
Predecessor Company | Options
Reconciliation of assets measured on Level 3 basis
Balance at the beginning of the period		6,794
Included in earnings		-302
Balance at the end of the period		6,492
Change in unrealized gains or losses for the period included in earnings for assets held at the end of the reporting period		($302)

FAIR_VALUE_OF_FINANCIAL_INSTRU5

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) (USD $)	3 Months Ended	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Predecessor Company | Minimum
Valuation techniques used for assets, measured at fair value
Weight ascribed to each valuation technique		0.00%
Predecessor Company | Maximum
Valuation techniques used for assets, measured at fair value
Weight ascribed to each valuation technique		100.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Liabilities, fair value (in dollars)		5,501,099
Predecessor Company | Significant Unobservable Inputs (Level 3) | Corporate Debt Securities
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		317,034
Predecessor Company | Significant Unobservable Inputs (Level 3) | Residential Mortgage- Backed Securities
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		55,184
Predecessor Company | Significant Unobservable Inputs (Level 3) | Corporate loans, at estimated fair value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		347,077
Predecessor Company | Significant Unobservable Inputs (Level 3) | Equity Investments, at Estimated Fair Value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		81,719
Predecessor Company | Significant Unobservable Inputs (Level 3) | Equity Investments, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
Illiquidity discount		5.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		718,772
Predecessor Company | Significant Unobservable Inputs (Level 3) | Options
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		5,212
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate loans, at estimated fair value | Weighted Average
Valuation techniques used for assets, measured at fair value
Yield		12.00%
Net leverage		6
EBITDA multiple		9
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate loans, at estimated fair value | Minimum
Valuation techniques used for assets, measured at fair value
Yield		3.00%
Net leverage		1
EBITDA multiple		5
Predecessor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate loans, at estimated fair value | Maximum
Valuation techniques used for assets, measured at fair value
Yield		21.00%
Net leverage		13
EBITDA multiple		12
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Residential Mortgage- Backed Securities | Weighted Average
Valuation techniques used for assets, measured at fair value
Probability of default		8.00%
Loss severity		26.00%
Constant prepayment rate		12.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Residential Mortgage- Backed Securities | Minimum
Valuation techniques used for assets, measured at fair value
Probability of default		0.00%
Loss severity		12.00%
Constant prepayment rate		4.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Residential Mortgage- Backed Securities | Maximum
Valuation techniques used for assets, measured at fair value
Probability of default		21.00%
Loss severity		45.00%
Constant prepayment rate		19.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Equity Investments, at Estimated Fair Value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		9,500
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Equity Investments, at Estimated Fair Value | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		13.00%
LTM EBITDA exit multiple		8
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Equity Investments, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		9.00%
LTM EBITDA exit multiple		5
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Equity Investments, at Estimated Fair Value | Maximum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		16.00%
LTM EBITDA exit multiple		10
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		207,600
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		12.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		7.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		20.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Options
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		14.00%
LTM EBITDA exit multiple		9
Predecessor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital		14.00%
LTM EBITDA exit multiple		9
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity Investments, at Estimated Fair Value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		67,400
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity Investments, at Estimated Fair Value | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		4
Forward EBITDA multiple		7
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity Investments, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		1
Forward EBITDA multiple		4
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity Investments, at Estimated Fair Value | Maximum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		12
Forward EBITDA multiple		11
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)		20,400
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		11
Control Premium		15.00%
Current capitalization rate		7.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		10
Control Premium		15.00%
Current capitalization rate		4.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		13
Current capitalization rate		15.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Options
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		9
Predecessor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple		9
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity Investments, at Estimated Fair Value | Weighted Average
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		97.00%
Weight ascribed to discounted cash flows		83.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity Investments, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		0.00%
Weight ascribed to discounted cash flows		0.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity Investments, at Estimated Fair Value | Maximum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		100.00%
Weight ascribed to discounted cash flows		100.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		54.00%
Weight ascribed to discounted cash flows		79.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		0.00%
Weight ascribed to discounted cash flows		0.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		100.00%
Weight ascribed to discounted cash flows		100.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Options
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		50.00%
Weight ascribed to discounted cash flows		50.00%
Predecessor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables		50.00%
Weight ascribed to discounted cash flows		50.00%
Successor Company | Minimum
Valuation techniques used for assets, measured at fair value
Weight ascribed to each valuation technique	0.00%
Successor Company | Maximum
Valuation techniques used for assets, measured at fair value
Weight ascribed to each valuation technique	100.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Corporate Debt Securities
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	307,911
Successor Company | Significant Unobservable Inputs (Level 3) | Residential Mortgage- Backed Securities
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	53,935
Successor Company | Significant Unobservable Inputs (Level 3) | Corporate loans, at estimated fair value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	336,186
Successor Company | Significant Unobservable Inputs (Level 3) | Equity Investments, at Estimated Fair Value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	103,319
Successor Company | Significant Unobservable Inputs (Level 3) | Equity Investments, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
Illiquidity discount	5.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	719,290
Successor Company | Significant Unobservable Inputs (Level 3) | Common stock warrants
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	521
Successor Company | Significant Unobservable Inputs (Level 3) | Options
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	4,309
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Weighted Average | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Discount margin		2.55%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Minimum | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Discount margin		0.95%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Maximum | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Discount margin		10.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate Debt Securities | Weighted Average
Valuation techniques used for assets, measured at fair value
Yield	16.00%	17.00%
Net leverage	6	6
EBITDA multiple	7	7
Discount margin	9.20%	9.05%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate Debt Securities | Minimum
Valuation techniques used for assets, measured at fair value
Yield	4.00%	3.00%
Net leverage	5	5
EBITDA multiple	6	4
Discount margin	6.25%	6.25%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate Debt Securities | Maximum
Valuation techniques used for assets, measured at fair value
Yield	19.00%	19.00%
Net leverage	12	12
EBITDA multiple	10	11
Discount margin	12.00%	11.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate loans, at estimated fair value | Weighted Average
Valuation techniques used for assets, measured at fair value
Yield	12.00%
Net leverage	6
EBITDA multiple	9
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate loans, at estimated fair value | Minimum
Valuation techniques used for assets, measured at fair value
Yield	3.00%
Net leverage	1
EBITDA multiple	5
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Corporate loans, at estimated fair value | Maximum
Valuation techniques used for assets, measured at fair value
Yield	22.00%
Net leverage	18
EBITDA multiple	15
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	35,800
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
Yield	19.00%
Net leverage	5
EBITDA multiple	11
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
Yield	16.00%
Net leverage	1
EBITDA multiple	10
Successor Company | Significant Unobservable Inputs (Level 3) | Yield analysis | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
Yield	26.00%
Net leverage	13
EBITDA multiple	13
Successor Company | Significant Unobservable Inputs (Level 3) | Broker quotes | Corporate Debt Securities
Valuation techniques used for assets, measured at fair value
Offered quotes (in dollars per share)	101	101
Successor Company | Significant Unobservable Inputs (Level 3) | Broker quotes | Corporate Debt Securities | Weighted Average
Valuation techniques used for assets, measured at fair value
Offered quotes (in dollars per share)	101	101
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Weighted Average | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Probability of default		3.00%
Loss severity		32.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Minimum | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Probability of default		2.00%
Loss severity		30.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Maximum | Collateralized loan obligation secured notes
Valuation techniques used for assets, measured at fair value
Probability of default		3.00%
Loss severity		37.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Corporate Debt Securities | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	16.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Corporate Debt Securities | Minimum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	16.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Residential Mortgage- Backed Securities | Weighted Average
Valuation techniques used for assets, measured at fair value
Probability of default	1.00%
Loss severity	35.00%
Constant prepayment rate	15.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Residential Mortgage- Backed Securities | Minimum
Valuation techniques used for assets, measured at fair value
Probability of default	0.00%
Loss severity	30.00%
Constant prepayment rate	12.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Residential Mortgage- Backed Securities | Maximum
Valuation techniques used for assets, measured at fair value
Probability of default	3.00%
Loss severity	50.00%
Constant prepayment rate	18.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Equity Investments, at Estimated Fair Value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	7,000
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Equity Investments, at Estimated Fair Value | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	14.00%
LTM EBITDA exit multiple	6
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Equity Investments, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	9.00%
LTM EBITDA exit multiple	3
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Equity Investments, at Estimated Fair Value | Maximum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	17.00%
LTM EBITDA exit multiple	16
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	198,600
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	10.00%
Average Price Per B O E	24.19
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	7.00%
Average Price Per B O E	18.18
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	18.00%
Average Price Per B O E	26.93
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Common stock warrants
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	17.00%
LTM EBITDA exit multiple	4
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Common stock warrants | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	17.00%
LTM EBITDA exit multiple	4
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Options
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	15.00%
LTM EBITDA exit multiple	9
Successor Company | Significant Unobservable Inputs (Level 3) | Discounted cash flows | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
Weighted average cost of capital	15.00%
LTM EBITDA exit multiple	9
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity Investments, at Estimated Fair Value
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	60,500
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity Investments, at Estimated Fair Value | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	4
Forward EBITDA multiple	7
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity Investments, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	1
Forward EBITDA multiple	4
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Equity Investments, at Estimated Fair Value | Maximum
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	12
Forward EBITDA multiple	11
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	25,700
LTM EBITDA multiple	9
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	9
Current capitalization rate	7.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
Current capitalization rate	5.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
Current capitalization rate	12.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Options
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	11
Successor Company | Significant Unobservable Inputs (Level 3) | Market comparables | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
LTM EBITDA multiple	11
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity Investments, at Estimated Fair Value | Weighted Average
Valuation techniques used for assets, measured at fair value
Illiquidity discount	12.00%
Weight ascribed to market comparables	72.00%
Weight ascribed to discounted cash flows	28.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity Investments, at Estimated Fair Value | Minimum
Valuation techniques used for assets, measured at fair value
Illiquidity discount	0.00%
Weight ascribed to market comparables	0.00%
Weight ascribed to discounted cash flows	0.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Equity Investments, at Estimated Fair Value | Maximum
Valuation techniques used for assets, measured at fair value
Illiquidity discount	20.00%
Weight ascribed to market comparables	100.00%
Weight ascribed to discounted cash flows	100.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Weighted Average
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables	28.00%
Weight ascribed to discounted cash flows	72.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Minimum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables	0.00%
Weight ascribed to discounted cash flows	50.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Interests in Joint Ventures and Partnerships | Maximum
Valuation techniques used for assets, measured at fair value
Weight ascribed to market comparables	100.00%
Weight ascribed to discounted cash flows	100.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Options
Valuation techniques used for assets, measured at fair value
Illiquidity discount	10.00%
Weight ascribed to market comparables	50.00%
Weight ascribed to discounted cash flows	50.00%
Successor Company | Significant Unobservable Inputs (Level 3) | Inputs to both market comparables and discounted cash flow | Options | Weighted Average
Valuation techniques used for assets, measured at fair value
Illiquidity discount	10.00%
Weight ascribed to market comparables	50.00%
Weight ascribed to discounted cash flows	50.00%
Crude Oil
Valuation techniques used for assets, measured at fair value
Percentage Of Share In Total Revenue	24.00%	23.00%
Natural Gas
Valuation techniques used for assets, measured at fair value
Percentage Of Share In Total Revenue	76.00%	77.00%
Natural Resources
Valuation techniques used for assets, measured at fair value
Assets, fair value (in dollars)	175,800	176,400

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	0 Months Ended
In Millions, unless otherwise specified	6-May-14	Mar. 31, 2015	Dec. 31, 2014
	claim
Contingencies
Number of Delaware actions voluntarily dismissed	2
Successor Company
Guarantees
Non-recourse debt		$766.90
Estimated future contributions for interests in joint ventures and partnerships		151.9
Successor Company | Corporate loans, at estimated fair value
Guarantees
Unfunded financing commitments for corporate loans		5.3
Predecessor Company
Guarantees
Non-recourse debt			457.3
Estimated future contributions for interests in joint ventures and partnerships			162
Predecessor Company | Corporate Loans
Guarantees
Unfunded financing commitments for corporate loans			$9.50

SHAREHOLDERS_EQUITY_Details

SHAREHOLDERS' EQUITY (Details) (USD $)	3 Months Ended	0 Months Ended	3 Months Ended	0 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 31, 2015	Apr. 30, 2014	Mar. 31, 2014	Dec. 16, 2013	Dec. 31, 2014	Jun. 27, 2014
Stock-based compensation
Preferred shares, shares issued	14,950,000				14,950,000
Preferred shares, shares outstanding	14,950,000				14,950,000
Number of common shares issued	100				100
Number of common shares outstanding	100				100
KKR & Co.
Stock-based compensation
Number of common shares issued						100
Number of common shares outstanding						100
Series A LLC Preferred Shares
Stock-based compensation
Preferred shares, dividend rate (as a percent)	7.38%
Successor Company | Common share options
Stock-based compensation
Exercise price of share options granted, minimum (as a percent)	100.00%
Successor Company | Common share options | Maximum
Stock-based compensation
Termination period from date of grant	10 years
Predecessor Company | Series A LLC Preferred Shares
Stock-based compensation
Preferred shares, shares issued	14,950,000
Preferred shares, shares outstanding	14,950,000
Preferred shares, dividend rate (as a percent)		7.38%
Predecessor Company | Restricted common shares
Restricted common share transactions
Unvested shares as January 1, 2014					669,828
Vested (in shares)			-243,648
Unvested shares as of March 31, 2014			426,180		669,828
Unrecognized compensation cost (in dollars)			$2.40
Predecessor Company | Restricted common shares | Manager
Restricted common share transactions
Unvested shares as January 1, 2014					584,634
Vested (in shares)			-243,648
Unvested shares as of March 31, 2014			340,986		584,634
Value of unvested restricted common shares granted (in dollars per share)			$11.57
Predecessor Company | Restricted common shares | Directors
Restricted common share transactions
Unvested shares as January 1, 2014					85,194
Unvested shares as of March 31, 2014			85,194		85,194
Predecessor Company | Common share options
Stock-based compensation
Authorized shares available to satisfy awards as of the balance sheet date			8,964,625
Predecessor Company | Phantom share
Stock-based compensation
Exchange ratio of share based awards under merger transaction		0.51
KFN | Predecessor Company | KKR & Co.
Stock-based compensation
Exchange ratio of share based awards under merger transaction		0.51		0.51
KFN | Predecessor Company | Restricted common shares | KKR & Co.
Stock-based compensation
Exchange ratio of share based awards under merger transaction		0.51

SHAREHOLDERS_EQUITY_Details_2

SHAREHOLDERS' EQUITY (Details 2) (Predecessor Company, Common share options, USD $)	Mar. 31, 2014	Dec. 31, 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
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 $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014
Stock-based compensation
Total share-based compensation expense	$841
Manager
Stock-based compensation
Total share-based compensation expense	577
Directors
Stock-based compensation
Total share-based compensation expense	$264

MANAGEMENT_AGREEMENT_AND_RELAT2

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2007
	loan
Successor Company | CLO Management Fees
Management Agreement and Related Party Transactions
Number of CLOs the Company owns less than 100% of subordinated notes	3
Successor Company | CLO Management Fees | Maximum
Management Agreement and Related Party Transactions
Entity's percentage in subordinated notes (as a percent)	100.00%
Successor Company | CLO Management Fees | CLO 2013-1 and CLO 2013-2
Management Agreement and Related Party Transactions
Entity's percentage in subordinated notes (as a percent)	100.00%
Successor Company | Manager
Management Agreement and Related Party Transactions
Renewal period	1 year
Votes for termination, minimum (as a percent)	66.70%
Notice period for termination	180 days
Multiplier used to determine termination fee	4
Number of 12 month periods considered for calculation of termination fee (in periods)	2
Specified period for which average annual incentive fee to be considered	12 months
Successor Company | Manager | Base Management Fees
Management Agreement and Related Party Transactions
Common share closing price, minimum (in dollars per share)	20
Number of consecutive trading days	5 days
Related party transaction expense	4,053,000
Successor Company | Manager | Incentive Fees
Management Agreement and Related Party Transactions
Related party transaction expense	0
Successor Company | Collateral manager | CLO Management Fees
Management Agreement and Related Party Transactions
Fees, waived	500,000
Related party transaction expense	6,167,000
Predecessor Company | Manager | Base Management Fees
Management Agreement and Related Party Transactions
Common shares offering			230,400,000
Common share right offering			270,000,000
Fees, waived		2,200,000
Related party transaction expense		3,622,000
Predecessor Company | Manager | Incentive Fees
Management Agreement and Related Party Transactions
Related party transaction expense		12,882,000
Predecessor Company | Manager | Manager Share-Based Compensation
Management Agreement and Related Party Transactions
Related party transaction expense	0	577,000
Predecessor Company | Collateral manager | CLO Management Fees
Management Agreement and Related Party Transactions
Fees, waived		1,600,000
Related party transaction expense		8,536,000
Restricted common shares | Predecessor Company
Management Agreement and Related Party Transactions
Share-based compensation		841,000
Restricted common shares | Predecessor Company | Manager | Manager Share-Based Compensation
Management Agreement and Related Party Transactions
Share-based compensation		$600,000

MANAGEMENT_AGREEMENT_AND_RELAT3

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Successor Company | Manager | Base Management Fees
Management Agreement and Related Party Transactions
Base management fees, gross	$8,491
CLO management fees credit	-4,438
Total base management fees, net	4,053
Successor Company | Collateral manager | CLO Management Fees
Management Agreement and Related Party Transactions
Base management fees, gross	1,729
CLO management fees credit	-4,438
Total base management fees, net	6,167
Predecessor Company | Manager | Base Management Fees
Management Agreement and Related Party Transactions
Base management fees, gross		9,992
CLO management fees credit		-6,370
Total base management fees, net		3,622
Predecessor Company | Collateral manager | CLO Management Fees
Management Agreement and Related Party Transactions
Base management fees, gross		2,166
CLO management fees credit		-6,370
Total base management fees, net		$8,536

MANAGEMENT_AGREEMENT_AND_RELAT4

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details 3) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Successor Company
Management Agreement and Related Party Transactions
Related party management compensation	$10,220
Successor Company | Collateral manager | CLO Management Fees
Management Agreement and Related Party Transactions
Total CLO management fees	6,167
Successor Company | Manager | Base Management Fees
Management Agreement and Related Party Transactions
Total CLO management fees	4,053
Successor Company | Manager | Incentive Fees
Management Agreement and Related Party Transactions
Total CLO management fees	0
Successor Company | Manager | Reimbursable General and Administrative Expenses
Management Agreement and Related Party Transactions
Total CLO management fees	2,300
Predecessor Company
Management Agreement and Related Party Transactions
Related party management compensation		25,617
Predecessor Company | Collateral manager | CLO Management Fees
Management Agreement and Related Party Transactions
Total CLO management fees		8,536
Predecessor Company | Manager | Base Management Fees
Management Agreement and Related Party Transactions
Total CLO management fees		3,622
Predecessor Company | Manager | Incentive Fees
Management Agreement and Related Party Transactions
Total CLO management fees		12,882
Predecessor Company | Manager | Manager Share-Based Compensation
Management Agreement and Related Party Transactions
Total CLO management fees	0	577
Predecessor Company | Manager | Reimbursable General and Administrative Expenses
Management Agreement and Related Party Transactions
Total CLO management fees		$1,900

MANAGEMENT_AGREEMENT_AND_RELAT5

MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Details 4) (Affiliates, USD $)	3 Months Ended	12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Successor Company
Investments in affiliates
Estimated Fair Value	1,400
Investment in affiliates, number of issuers	18
Successor Company | Corporate loans, at estimated fair value
Investments in affiliates
Estimated Fair Value	1,400
Successor Company | Equity Investments, at Estimated Fair Value
Investments in affiliates
Estimated Fair Value	12
Successor Company | Joint ventures and partnerships
Investments in affiliates
Estimated Fair Value	623.1
Successor Company | Affiliated investments | Percent to total investment in corporate loans, debt securities and other investments
Investments in affiliates
Investment in affiliates as a percentage of total investment (in percentage)	18.00%
Predecessor Company
Investments in affiliates
Estimated Fair Value		1,700
Investment in affiliates, number of issuers		19
Predecessor Company | Corporate loans
Investments in affiliates
Estimated Fair Value		1,600
Predecessor Company | Corporate Debt Securities
Investments in affiliates
Estimated Fair Value		9.5
Predecessor Company | Equity Investments, at Estimated Fair Value
Investments in affiliates
Estimated Fair Value		13.6
Predecessor Company | Joint ventures and partnerships
Investments in affiliates
Estimated Fair Value		618.6
Predecessor Company | Affiliated investments | Percent to total investment in corporate loans, debt securities and other investments
Investments in affiliates
Investment in affiliates as a percentage of total investment (in percentage)		20.00%

SEGMENT_REPORTING_Details

SEGMENT REPORTING (Details) (USD $)	3 Months Ended		9 Months Ended	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Sep. 30, 2013	Sep. 30, 2013	Mar. 31, 2015	Dec. 31, 2014
Segment Reporting Information
Total assets				$8,727,164	$8,951,625
Predecessor Company
Segment Reporting Information
Total revenues	140,590
Total investment costs and expenses	73,770
Total other income (loss)	72,840
Total other expenses	31,458
Income tax expense (benefit)	19
Net income (loss)	108,183
Net income (loss) attributable to noncontrolling interests	0
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries	108,183	39,886	224,354
Predecessor Company | Reportable Segments | Credit
Segment Reporting Information
Total revenues	96,562
Total investment costs and expenses	45,873
Total other income (loss)	64,516
Total other expenses	15,835
Income tax expense (benefit)	19
Net income (loss)	99,351
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries		33,795	247,954
Predecessor Company | Reportable Segments | Natural Resources
Segment Reporting Information
Total revenues	44,028
Total investment costs and expenses	27,576
Total other income (loss)	-5,389
Total other expenses	1,154
Net income (loss)	9,909
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries		5,354	18,147
Predecessor Company | Reportable Segments | Other
Segment Reporting Information
Total revenues	0
Total investment costs and expenses	321
Total other income (loss)	13,713
Total other expenses	140
Income tax expense (benefit)	0
Net income (loss)	13,252
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries		2,344	6,359
Predecessor Company | Reconciling Items
Segment Reporting Information
Total other expenses	14,329
Net income (loss)	-14,329
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries		-1,607	-48,106
Incentive fees	12,900
Successor Company
Segment Reporting Information
Total revenues				97,786
Total investment costs and expenses				57,653
Total other income (loss)				-69,164
Total other expenses				17,168
Income tax expense (benefit)				347
Net income (loss)				-46,546
Net income (loss) attributable to noncontrolling interests				-6,071
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries				-40,475
Successor Company | Reportable Segments | Credit
Segment Reporting Information
Total revenues				94,958
Total investment costs and expenses				55,967
Total other income (loss)				-65,992
Total other expenses				16,403
Income tax expense (benefit)				48
Net income (loss)				-43,452
Net income (loss) attributable to noncontrolling interests				-5,858
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries				-37,594
Total assets				8,202,142	8,438,227
Successor Company | Reportable Segments | Natural Resources
Segment Reporting Information
Total revenues				2,828
Total investment costs and expenses				1,340
Total other income (loss)				-7,753
Total other expenses				510
Income tax expense (benefit)				0
Net income (loss)				-6,775
Net income (loss) attributable to noncontrolling interests				-213
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries				-6,562
Total assets				297,169	300,281
Successor Company | Reportable Segments | Other
Segment Reporting Information
Total revenues				0
Total investment costs and expenses				346
Total other income (loss)				4,581
Total other expenses				155
Income tax expense (benefit)				299
Net income (loss)				3,781
Net income (loss) attributable to noncontrolling interests				0
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries				3,781
Total assets				227,853	213,006
Successor Company | Reconciling Items
Segment Reporting Information
Total other expenses				100
Income tax expense (benefit)				0
Net income (loss)				-100
Net income (loss) attributable to noncontrolling interests				0
Net income (loss) attributable to KKR Financial Holdings LLC and Subsidiaries				-100
Total assets				0	111
Noncontrolling interests | Successor Company
Segment Reporting Information
Net income (loss)				-6,071
Total assets				96,200	100,200
Noncontrolling interests | Successor Company | Credit
Segment Reporting Information
Total assets				56,800	62,700
Noncontrolling interests | Successor Company | Natural Resources
Segment Reporting Information
Total assets				$39,400	$37,400

EARNINGS_PER_COMMON_SHARE_Deta

EARNINGS PER COMMON SHARE (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Sep. 30, 2013	Sep. 30, 2013
KKR Fund Holdings
Earnings per common share
Number of common shares held	100
Predecessor Company
Reconciliation of basic and diluted net income and distributions per common share
Net income (loss)		$108,183	$39,886	$224,354
Less: Preferred share distributions		6,891
Net income (loss) available to common shares		101,292
Less: Dividends and undistributed earnings allocated to participating securities		309
Net income (loss) allocated to common shares		$100,983
Basic:
Basic weighted average common shares outstanding		204,236,000
Net income (loss) per common share (in dollars per share)		$0.49
Diluted:
Diluted weighted average common shares outstanding		204,236,000
Net income (loss) per common share (in dollars per share)		$0.49
Distribution declared (in dollars per share)	$0.22
Anti-dilutive securities
Anti-dilutive securities excluded from diluted earnings per share calculations (in shares)		1,932,279

ACCUMULATED_OTHER_COMPREHENSIV2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) (Predecessor Company, USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2014
Components of changes in accumulated other comprehensive income (loss)
Beginning balance		($15,652,000)
Other comprehensive loss before reclassifications	-4,134,000
Amounts reclassified from accumulated other comprehensive loss(2)	-1,586,000
Total other comprehensive income (loss)	-5,720,000
Ending balance	-21,372,000	-15,652,000
Impairment charge for investments which were determined to be other-than-temporary	2,900,000
Net unrealized gains on available-for-sale securities
Components of changes in accumulated other comprehensive income (loss)
Beginning balance		23,567,000
Other comprehensive loss before reclassifications	-303,000
Amounts reclassified from accumulated other comprehensive loss(2)	-1,586,000
Total other comprehensive income (loss)	-1,889,000
Ending balance	21,678,000	23,567,000
Net unrealized losses on cash flow hedges
Components of changes in accumulated other comprehensive income (loss)
Beginning balance		-39,219,000
Other comprehensive loss before reclassifications	-3,831,000
Total other comprehensive income (loss)	-3,831,000
Ending balance	($43,050,000)	($39,219,000)

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (Successor Company, USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 26, 2015	7-May-15
Subsequent events
Dividends, Preferred Stock	$6,891,000
Series A LLC Preferred Shares
Subsequent events
Cash distribution declared (in dollars per share)		$0.46
Dividends, Preferred Stock		6,900,000
Subsequent Event | Common Shares
Subsequent events
Dividends, Common Stock			$34,300,000
Cash distribution declared (in dollars per share)			$342,908