Oaktree Capital Group, LLC 6.625% PFD UT A (OAK-PA) 10-Q7 Nov 142014 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2014	Nov. 03, 2014	Nov. 03, 2014
	Sep. 30, 2014	Class A Units	Class B Units
Entity Information [Line Items]	'	'	'
Document Type	'10-Q	'	'
Amendment Flag	'false	'	'
Document Period End Date	30-Sep-14	'	'
Document Fiscal Year Focus	'2014	'	'
Document Fiscal Period Focus	'Q3	'	'
Trading Symbol	'OAK	'	'
Entity Registrant Name	'Oaktree Capital Group, LLC	'	'
Entity Central Index Key	'0001403528	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Large Accelerated Filer	'	'
Entity Common Stock, Shares Outstanding	'	43,479,670	109,372,950

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Financial Condition (USD $)	Sep. 30, 2014		Dec. 31, 2013
Assets	'		'
Cash and cash-equivalents	$599,995,000		$390,721,000
U.S. Treasury securities	480,362,000		676,600,000
Corporate investments (includes $29,856 and $67,596 measured at fair value as of September 30, 2014 and December 31,2013, respectively)	140,736,000	[1]	169,927,000
Due from affiliates	47,772,000		47,774,000
Deferred tax assets	373,037,000		278,885,000
Investments, at fair value	45,304,349,000		39,911,888,000
Derivative assets, at fair value	384,644,000		107,345,000
Other assets	234,329,000		208,929,000
Total assets	52,647,451,000	[2]	45,263,254,000
Liabilities:	'		'
Accrued compensation expense	246,638,000		278,655,000
Accounts payable, accrued expenses and other liabilities	132,837,000		79,999,000
Due to affiliates	321,430,000		242,986,000
Debt obligations	850,000,000		579,464,000
Derivative liabilities, at fair value	100,520,000		160,192,000
Total liabilities	8,333,252,000		4,720,045,000
Commitments and contingencies (Note 13)	'		'
Non-controlling redeemable interests in consolidated funds	42,463,328,000		38,834,831,000
Unitholdersb capital:	'		'
Paid-in capital	557,856,000		590,236,000
Accumulated deficit	-13,012,000		-114,905,000
Accumulated other comprehensive loss	-1,096,000		-1,122,000
Class A unitholdersb capital	543,748,000		474,209,000
Non-controlling interest in consolidated subsidiaries and funds	1,258,921,000		1,234,169,000
Total unitholdersb capital	1,850,871,000		1,708,378,000
Total liabilities and unitholdersb capital	52,647,451,000		45,263,254,000
Class A Units	'		'
Unitholdersb capital:	'		'
Common stock	0		0
Class B Units	'		'
Unitholdersb capital:	'		'
Common stock	0		0
Consolidated Funds	'		'
Assets	'		'
Cash and cash-equivalents	3,266,473,000		2,246,944,000
Investments, at fair value	45,304,349,000		39,911,888,000
Dividends and interest receivable	185,731,000		159,215,000
Due from brokers	689,963,000		283,764,000
Receivable for securities sold	271,580,000		324,213,000
Derivative assets, at fair value	364,284,000		94,937,000
Other assets	688,840,000		469,457,000
Liabilities:	'		'
Accounts payable, accrued expenses and other liabilities	95,763,000		29,213,000
Debt obligations	978,526,000		0
Payables for securities purchased	970,667,000		697,705,000
Securities sold short, at fair value	89,869,000		140,251,000
Derivative liabilities, at fair value	96,363,000		149,880,000
Distributions payable	225,655,000		224,711,000
Borrowings under credit facilities	4,325,504,000		2,297,181,000
Non-controlling Interests in Consolidated Funds	'		'
Unitholdersb capital:	'		'
Non-controlling interest in consolidated subsidiaries and funds	$48,202,000		$0

[1]	The adjustment to corporate investments is to remove from segment assets the Companybs investments in the consolidated funds, including investments in its CLOs, that are treated as equity- or cost-method investments for segment reporting. Of the $1.5 billion, equity-method investments accounted for $1.3 billion.
[2]	The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable.

Condensed_Consolidated_Stateme1

Condensed Consolidated Statements of Financial Condition (Parenthetical) (USD $)	9 Months Ended	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Total investments	$29,856	$67,596
Class A Units	'	'
Par Value (in dollars per share)	$0	$0
Units Authorized (in shares)	'Unlimited	'Unlimited
Issued (in shares)	43,479,670	38,472,506
Outstanding (in shares)	43,479,670	38,472,506
Class B Units	'	'
Par Value (in dollars per share)	$0	$0
Units Authorized (in shares)	'Unlimited	'Unlimited
Issued (in shares)	109,372,950	112,584,211
Outstanding (in shares)	109,372,950	112,584,211

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Operations (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Revenues:	'		'		'		'
Management fees	$54,243	[1]	$56,786	[1]	$146,234	[2]	$149,422	[1]
Incentive income	0	[1]	0	[1]	0	[1]	2,317	[1]
Total revenues	54,243		56,786		146,234		151,739
Expenses:	'		'		'		'
Compensation and benefits	-101,482		-95,660		-292,509		-279,638
Equity-based compensation	-10,557		-7,320		-30,226		-20,877
Incentive income compensation	-43,048		-49,222		-170,801		-308,446
Total compensation and benefits expense	-155,087		-152,202		-493,536		-608,961
General and administrative	-15,294		-31,094		-79,197		-80,227
Depreciation and amortization	-2,402		-1,791		-6,138		-5,266
Consolidated fund expenses	-79,618		-29,071		-147,234		-80,749
Total expenses	-252,401	[3]	-214,158	[4]	-726,105	[3]	-775,203	[5]
Other income (loss):	'		'		'		'
Interest expense	-34,564		-17,337		-84,263		-42,931
Investment income	5,768		11,468		15,149		22,600
Other income, net	2,695	[6]	148		1,006	[7]	412
Total other income (loss)	-375,461		1,247,329		2,867,426		5,159,947
Income (loss) before income taxes	-573,619		1,089,957		2,287,555		4,536,483
Income taxes	-5,341	[8]	-726	[8]	-19,088	[8]	-18,874	[8]
Net income (loss)	-578,960		1,089,231		2,268,467		4,517,609
Less:	'		'		'		'
Net (income) loss attributable to non-controlling interests	-67,551		-129,408		-322,922		-617,191
Net income attributable to Oaktree Capital Group, LLC	18,913		42,948		101,893		157,091
Distributions declared per Class A unit (in dollars per share)	$0.55		$1.51		$2.53		$3.97
Net income per unit (basic and diluted):	'		'		'		'
Net income per Class A unit (in dollars per share)	$0.43		$1.12		$2.41		$4.64
Weighted average number of Class A units outstanding (in shares)	43,480		38,239		42,234		33,845
Consolidated Funds	'		'		'		'
Other income (loss):	'		'		'		'
Interest and dividend income	861,109		389,078		1,507,306		1,375,923
Net realized gain on consolidated fundsb investments	428,267		766,199		1,596,596		2,796,448
Net change in unrealized appreciation (depreciation) on consolidated fundsb investments	-1,638,736		97,773		-168,368		1,007,495
Non-controlling Interests in Consolidated Funds	'		'		'		'
Less:	'		'		'		'
Net (income) loss attributable to non-controlling interests	$665,424		($916,875)		($1,843,652)		($3,743,327)

[1]	The adjustment represents the elimination of amounts earned from the consolidated funds.
[2]	{F\|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmM5YjU1ZmM1ODEyZDQwYzhhZmI0ZTg1YTZjZGI0ODgwfFRleHRTZWxlY3Rpb246RTk1REU4ODM4M0MxNzc2NjM2OEQyMzlBMkU3MThFQzUM}
[3]	The expense adjustment consists of (a)B equity-based compensation charges of $5,372 related to unit grants made before the Companybs initial public offering, (b)B consolidated fund expenses of $64,356, (c)B expenses incurred by the Intermediate Holding Companies of $264, (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $3,234, (e) acquisition-related amortization of intangibles of $488 and (f) adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP of $2,685.
[4]	The expense adjustment consists of (a)B equity-based compensation charges of $6,250 related to unit grants made before the Companybs initial public offering, (b)B consolidated fund expenses of $32,604 and (c)B expenses incurred by the Intermediate Holding Companies of $271.
[5]	The expense adjustment consists of (a)B equity-based compensation charges of $18,231 related to unit grants made before the Companybs initial public offering, (b)B consolidated fund expenses of $79,434 and (c)B expenses incurred by the Intermediate Holding Companies of $947.
[6]	The adjustment to other income, net represents adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP.
[7]	The adjustment to other income (expense), net represents adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP.
[8]	Because adjusted net income is a pre-tax measure, this adjustment eliminates the effect of income tax expense from adjusted net income.

Condensed_Consolidated_Stateme3

Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Net income (loss)	($578,960)	$1,089,231	$2,268,467	$4,517,609
Other comprehensive income (loss), net of tax:	'	'	'	'
Foreign currency translation adjustments	-1,659	3,090	-1,579	-773
Unrealized gain (loss) on interest-rate swap designated as cash-flow hedge	1,126	-240	1,648	3,000
Other comprehensive income (loss), net of tax	-533	2,850	69	2,227
Total comprehensive income (loss)	-579,493	1,092,081	2,268,536	4,519,836
Less: Comprehensive (income) loss attributable to non-controlling interests	598,254	-1,048,410	-2,166,617	-4,362,108
Comprehensive income attributable to Oaktree Capital Group, LLC	18,761	43,671	101,919	157,728
Oaktree Capital Group, LLC	'	'	'	'
Net income (loss)	18,913	42,948	101,893	157,091
Other comprehensive income (loss), net of tax:	'	'	'	'
Foreign currency translation adjustments	-472	784	-457	-1
Unrealized gain (loss) on interest-rate swap designated as cash-flow hedge	320	-61	483	638
Other comprehensive income (loss), net of tax	-152	723	26	637
Total comprehensive income (loss)	18,761	43,671	101,919	157,728
Less: Comprehensive (income) loss attributable to non-controlling interests	0	0	0	0
Comprehensive income attributable to Oaktree Capital Group, LLC	18,761	43,671	101,919	157,728
Non-controlling Interests in Consolidated Subsidiaries	'	'	'	'
Net income (loss)	67,551	129,408	322,922	617,191
Other comprehensive income (loss), net of tax:	'	'	'	'
Foreign currency translation adjustments	-1,187	2,306	-1,122	-772
Unrealized gain (loss) on interest-rate swap designated as cash-flow hedge	806	-179	1,165	2,362
Other comprehensive income (loss), net of tax	-381	2,127	43	1,590
Total comprehensive income (loss)	67,170	131,535	322,965	618,781
Less: Comprehensive (income) loss attributable to non-controlling interests	-67,170	-131,535	-322,965	-618,781
Comprehensive income attributable to Oaktree Capital Group, LLC	0	0	0	0
Non-controlling Interests in Consolidated Funds	'	'	'	'
Net income (loss)	-665,424	916,875	1,843,652	3,743,327
Other comprehensive income (loss), net of tax:	'	'	'	'
Foreign currency translation adjustments	0	0	0	0
Unrealized gain (loss) on interest-rate swap designated as cash-flow hedge	0	0	0	0
Other comprehensive income (loss), net of tax	0	0	0	0
Total comprehensive income (loss)	-665,424	916,875	1,843,652	3,743,327
Less: Comprehensive (income) loss attributable to non-controlling interests	665,424	-916,875	-1,843,652	-3,743,327
Comprehensive income attributable to Oaktree Capital Group, LLC	$0	$0	$0	$0

Condensed_Consolidated_Stateme4

Condensed Consolidated Statements of Cash Flows (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities:	'	'
Net income	$2,268,467	$4,517,609
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Investment income	-15,149	-22,600
Depreciation and amortization	6,138	5,266
Equity-based compensation	30,226	20,877
Amortization (accretion) of original issue and market discount of consolidated fundsb investments, net	-3,244	-32,187
Income distributions from corporate investments in companies	41,470	37,706
Cash flows due to changes in operating assets and liabilities:	'	'
Increase in other assets	-193,591	-43,512
Increase (decrease) in net due to affiliates	-1,583	-4,609
Increase (decrease) in accounts payable, accrued expenses and other liabilities	21,668	-25,433
Purchases of securities	-23,381	-8,870
Net cash provided by (used in) operating activities	-2,874,431	4,663,632
Cash flows from investing activities:	'	'
Purchases of U.S. Treasury securities	-239,803	-702,456
Proceeds from maturities and sales of U.S. Treasury securities	436,041	366,205
Distributions from corporate investments in funds and companies	26,251	2,034
Acquisition, net of cash acquired (Highstar)	-25,637	0
Purchases of fixed assets	-4,940	-3,027
Other	0	-40,000
Net cash provided by (used in) investing activities	168,531	-386,114
Cash flows from financing activities:	'	'
Proceeds from issuance of debt obligations	500,000	0
Payment of debt issuance costs	-2,196	0
Repayments of debt obligations	-229,464	-29,465
Purchase of OCGH units	-298,485	-420,741
Distributions to Class A unitholders	-104,997	-131,999
Distributions to OCGH unitholders	-344,300	-527,101
Net cash provided by (used in) financing activities	3,941,561	-4,592,345
Effect of exchange rate changes on cash	-6,858	10,330
Net increase (decrease) in cash and cash-equivalents	1,228,803	-304,497
Cash and cash-equivalents, beginning balance	2,637,665	2,928,526
Cash and cash-equivalents, ending balance	3,866,468	2,624,029
Supplemental disclosure of non-cash activities:	'	'
Issuance of OCGH units related to the Highstar acquisition	3,996	'
Net assets related to the initial consolidation of a fund	961,634	0
Non-controlling interests in consolidated subsidiaries acquired	72,195	'
Consolidated Funds	'	'
Adjustments to reconcile net income to net cash provided by (used in) operating activities:	'	'
Net realized and unrealized gains from consolidated fundsb investments	-1,428,228	-3,803,943
Cash flows due to changes in operating assets and liabilities:	'	'
(Increase) decrease in dividends and interest receivable	-26,516	2,343
(Increase) decrease in due from brokers	-406,199	62,380
(Increase) decrease in receivables for securities sold	70,100	-248,110
Increase in payables for securities purchased	57,087	664,626
Purchases of securities	-16,864,421	-13,143,842
Proceeds from maturities and sales of securities	13,569,344	16,677,061
Cash flows from financing activities:	'	'
Payment of debt issuance costs	-17,834	0
Contributions from non-controlling interests	6,269,965	4,613,588
Distributions to non-controlling interests	-5,035,110	-10,033,373
Proceeds from debt obligations issued by collateralized loan obligation vehicles	978,526	0
Borrowings on credit facilities	5,694,328	3,030,121
Repayments on credit facilities	-3,765,522	-1,513,283
Class A Units	'	'
Cash flows from financing activities:	'	'
Proceeds from issuance of Class A units	296,650	419,908
Common Stock Including Additional Paid in Capital [Member]	'	'
Supplemental disclosure of non-cash activities:	'	'
Issuance of OCGH units related to the Highstar acquisition	1,137	0
Non-controlling Interests in Consolidated Subsidiaries	'	'
Cash flows from operating activities:	'	'
Net income	322,922	617,191
Supplemental disclosure of non-cash activities:	'	'
Issuance of OCGH units related to the Highstar acquisition	2,859	'
Non-controlling interests in consolidated subsidiaries acquired	$72,195	$0

Condensed_Consolidated_Stateme5

Condensed Consolidated Statements of Changes in Unitholders' Capital (USD $)

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

In Thousands, except Share data, unless otherwise specified

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Paid-in Capital

Accumulated Deficit

Accumulated Other Comprehensive Income (Loss)

Non-controlling Interests in Consolidated Subsidiaries

Non-controlling Interests in Consolidated Funds

Class A Units

Class B Units

Increase (decrease) in Stockholders' Equity:

Unitholders' capital, value

$1,708,378

$1,393,893

$590,236

$645,053

($114,905)

($336,903)

($1,122)

($1,748)

$1,234,169

$1,087,491

Unitholders' capital, shares

38,473,000

30,181,000

112,584,000

120,268,000

Issuance of units, value

296,650

419,908

296,650

419,908

Issuance of units, shares

5,007,000

8,058,000

1,891,000

673,000

Issuance of Class B units related to the Highstar acquisition

3,996

1,137

2,859

Cancellation of Class B units associated with forfeitures of OCGH units, shares

-56,000

-44,000

Cancellation of Class B units, shares

-5,046,000

-8,076,000

Purchase of OCGH units from OCGH unitholders

-296,400

-419,908

-296,400

-419,908

Deferred tax effect resulting from the purchase of OCGH units

14,122

20,161

14,122

20,161

Repurchase and cancellation of OCGH units

-2,085

-833

-2,085

-833

Capital contributions

50,127

2,668

47,459

Equity reallocation between controlling and non-controlling interests

48,725

76,685

48,725

76,685

-48,725

-76,685

Capital increase related to equity-based compensation

30,226

20,877

8,383

4,700

21,843

16,177

Non-controlling interests related to the Highstar acquisition

72,195

Distributions declared

-452,095

-659,100

-104,997

-131,999

-346,968

-527,101

-130

Net income

425,688

774,282

101,893

157,091

322,922

617,191

873

Foreign currency translation adjustment, net of tax

-1,579

-773

-457

-1

-1,187

2,306

-1,122

-772

Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax

1,648

3,000

483

638

1,165

2,362

Unitholders' capital, value

$1,850,871

$1,551,507

$557,856

$614,600

($13,012)

($179,812)

($1,096)

($1,111)

$1,258,921

$1,117,830

$1,258,921

$1,117,830

$48,202

Unitholders' capital, shares

43,480,000

38,239,000

109,373,000

112,821,000

ORGANIZATION_AND_BASIS_OF_PRES

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
ORGANIZATION AND BASIS OF PRESENTATION	'
	ORGANIZATION AND BASIS OF PRESENTATION
	Oaktree Capital Group, LLC (together with its subsidiaries, “Oaktree” or the “Company”) is a leader among global investment managers specializing in alternative investments. Oaktree emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in distressed debt, corporate debt (including high yield debt and senior loans), control investing, convertible securities, real estate and listed equities. Funds managed by Oaktree (the “Oaktree funds”) include commingled funds, separate accounts and collateralized loan obligation vehicles (“CLOs”). Commingled funds include open-end and closed-end limited partnerships in which the Company makes an investment and for which it serves as the general partner or, in certain limited cases, co-general partner. The CLOs are closed-end investment vehicles in which the Company typically makes an investment and for which it serves as collateral manager.
	Oaktree Capital Group, LLC was formed on April 13, 2007. Oaktree Capital Group Holdings GP, LLC acts as the Company’s manager and is the general partner of Oaktree Capital Group Holdings, L.P. (“OCGH”), which owns 100% of the Company’s outstanding Class B units. OCGH is owned by the Company’s senior executives, current and former employees and certain other investors (the “OCGH unitholders”). The Company’s operations are conducted through a group of operating entities collectively referred to as the Oaktree Operating Group. OCGH has a direct economic interest in the Oaktree Operating Group and the Company has an indirect economic interest in the Oaktree Operating Group. An Oaktree Operating Group unit is not a legal interest but represents one limited partnership interest in each of the Oaktree Operating Group entities. The Class B units are entitled to ten votes per unit and have no economic interest in the Company, whereas the Class A units are only entitled to one vote per unit. Consequently, the OCGH unitholders’ economic interest in the Oaktree Operating Group is reflected within non-controlling interests in consolidated subsidiaries in the accompanying condensed consolidated financial statements.
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. The condensed consolidated financial statements, including these notes, are unaudited and exclude some of the disclosures required in annual financial statements. Management believes it has made all necessary adjustments (consisting of only normal recurring items) such that the condensed consolidated financial statements are presented fairly and that estimates made in preparing its condensed consolidated financial statements are reasonable and prudent. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. The condensed consolidated financial statements include the accounts of the Company, its wholly-owned or majority-owned subsidiaries, the consolidated entities that are considered to be variable interest entities (“VIEs”) and for which the Company is considered the primary beneficiary, and certain entities that are not considered VIEs but in which the Company has a controlling financial interest. Most of the Oaktree funds consolidated by the Company are investment companies that follow a specialized basis of accounting established under GAAP. All intercompany transactions and balances have been eliminated in consolidation. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 31, 2013 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 28, 2014.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Consolidation
	The Company consolidates those entities where it has a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. As of September 30, 2014, this included six VIEs for which the Company was considered the primary beneficiary, and substantially all of Oaktree’s closed-end, commingled open-end and evergreen funds for which the Company acts as the sole general partner and is deemed to control through a voting interest model.
	Variable Interest Model. The Company consolidates VIEs for which it is considered the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity’s business and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The consolidation model for VIEs, which was revised effective January 1, 2010, requires an analysis to determine (a) whether an entity in which the Company holds a variable interest is a VIE and (b) whether the Company’s involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance-related fees), would give it a controlling financial interest. The consolidation model for VIEs may be deferred if the VIE and the reporting entity’s interest in the VIE meet the deferral conditions set forth in Accounting Standards Codification (“ASC”) 810-10-65-2(aa). If a VIE has met the deferral conditions, the analysis is based on the consolidation model for VIEs prior to January 1, 2010, which requires an analysis to determine (a) whether an entity in which the Company holds a variable interest is a VIE and (b) whether the Company’s involvement through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance-related fees) would be expected to absorb a majority of the variability of the entity. Under either model, the Company determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion at each reporting date. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly by the Company or indirectly through related parties. The consolidation analysis can generally be performed qualitatively; however, if it is not readily apparent that the Company is not the primary beneficiary, a quantitative analysis may also be performed. Investments and redemptions (either by the Company, affiliates of the Company or third parties) or amendments to the governing documents of the respective Oaktree funds could affect an entity’s status as a VIE or the determination of the primary beneficiary.
	While the Company holds variable interests in the Oaktree funds, most of those funds do not meet the characteristics of a VIE. As of September 30, 2014, the Company consolidated six VIEs for which it was the primary beneficiary, including Oaktree AIF Holdings, Inc. (“AIF”), which was formed to hold certain assets for regulatory and other purposes and is immaterial to the Company. The five remaining VIEs represented CLOs for which the Company acts as collateral manager. Three of the CLOs had not priced as of September 30, 2014. As of September 30, 2014 and December 31, 2013, there were no VIEs for which the Company was not the primary beneficiary. As of December 31, 2013, the Company consolidated two VIEs.
	As of September 30, 2014, the Company consolidated five CLOs with total assets and liabilities of $1.3 billion and $1.1 billion, respectively. The assets and liabilities of the CLOs primarily consist of investments in debt securities and loans, respectively, issued by the CLOs. The loans issued by each CLO are collateralized by the investments held by the CLO, and assets of one CLO may not be used to satisfy liabilities of another. In exchange for managing the collateral of the CLOs, the Company typically earns management fees and may earn performance fees, all of which are eliminated in consolidation. As of September 30, 2014, the Company had invested an aggregate $126.1 million in its CLOs, which represented its maximum risk of loss. The Company’s investments are generally subordinated to other interests in the CLOs and entitle the Company to receive a pro-rata portion of the residual cash flows, if any, from the CLOs. Investors in the CLOs have no recourse against the Company for any losses they sustain.
	Voting Interest Model. For entities that are not VIEs, the Company evaluates those entities that it controls through a majority voting interest, including those Oaktree funds in which the Company as the sole general partner is presumed to have control (together with the CLOs, the “consolidated funds”). Although as general partner the Company typically has only a small, single-digit percentage equity interest in each fund, the funds’ third-party limited partners do not have the right to dissolve the partnerships or have substantive kick-out or participating rights that would overcome the presumption of control by the Company.
	Accordingly, Oaktree’s condensed consolidated financial statements reflect the assets, liabilities, revenues, expenses and cash flows of the consolidated funds on a gross basis, and the majority of the economic interests in those funds, which are held by third-party investors, are attributed to non-controlling redeemable interests in consolidated funds in the accompanying condensed consolidated financial statements. All of the revenues earned by Oaktree from those funds are eliminated in consolidation. However, because the eliminated amounts are earned from and funded by non-controlling interests, Oaktree’s attributable share of the net income from those funds is increased by the amounts eliminated. Thus, the elimination of those amounts in consolidation has no effect on net income or loss attributable to the Company. All intercompany transactions and balances have been eliminated in consolidation.
	Certain funds for which the Company shares general partner responsibilities or where the Company has no general partner responsibility but has the ability to exert significant influence through other means are accounted for under the equity method of accounting.
	Non-controlling Redeemable Interests in Consolidated Funds
	The Company records non-controlling interests to reflect the economic interests of the unaffiliated limited partners. These interests are presented as non-controlling redeemable interests in consolidated funds within the condensed consolidated statements of financial condition, outside of the permanent capital section. Limited partners in open-end and evergreen funds generally have the right to withdraw their capital, subject to the terms of the respective limited partnership agreements, over periods ranging from one month to three years. While limited partners in consolidated closed-end funds generally have not been granted redemption rights, these limited partners do have withdrawal or redemption rights in certain limited circumstances that are beyond the control of the Company, such as instances in which retaining the limited partnership interest could cause the limited partner to violate a law, regulation or rule.
	The allocation of net income or loss to non-controlling redeemable interests in consolidated funds is based on the relative ownership interests of the unaffiliated limited partners after the consideration of contractual arrangements that govern allocations of income or loss. At the consolidated level, potential incentives are allocated to non-controlling redeemable interests in consolidated funds until such incentives become allocable to the Company under the substantive contractual terms of the limited partnership agreements of the funds.
	Non-controlling Interests in Consolidated Funds
	Non-controlling interests in consolidated funds represent the equity interests held by third-party investors in CLOs that had not yet priced as of the respective period end. All non-controlling interests in those CLOs are attributed a share of income or loss arising from the respective CLO based on the relative ownership interests of third-party investors after consideration of contractual arrangements that govern allocations of income or loss. Investors in those CLOs are generally unable to redeem their interests until the CLO liquidates or otherwise terminates.
	Non-controlling Interests in Consolidated Subsidiaries
	Non-controlling interests in consolidated subsidiaries reflect the portion of unitholders' capital attributable to OCGH unitholders (“OCGH non-controlling interest”), certain related parties and other third parties. All non-controlling interests in consolidated subsidiaries are attributed a share of income or loss in the respective consolidated subsidiary based on the relative economic interests of the OCGH unitholders or third parties after consideration of contractual arrangements that govern allocations of income or loss. Please see note 9 for more information.
	Business Combinations
	The Company accounts for business combinations using the acquisition method of accounting, which requires the use of estimates and judgment to measure the fair value of the identifiable tangible and intangible assets acquired, liabilities assumed, and non-controlling interests in the acquiree as of the acquisition date. Contingent consideration that is determined to be part of the business combination is recognized at fair value as of the acquisition date and is included in the purchase price. Transaction costs are expensed as incurred.
	Goodwill and Intangible Assets
	Goodwill represents the excess of cost over the fair value of identifiable net assets of acquired businesses. Goodwill has an indefinite useful life and is not amortized, but instead tested for impairment annually in the fourth quarter of each fiscal year or more frequently when events and circumstances indicate that impairment may have occurred.
	The Company's intangible assets acquired in business combinations are primarily contractual rights to earn future management fees and incentive income. Finite-lived intangible assets are amortized over their estimated useful lives, which range from three to seven years, and are reviewed for impairment whenever events or circumstances indicate that the carrying amount of the asset may not be recoverable.
	Fair Value of Financial Instruments
	GAAP establishes a hierarchal disclosure framework that prioritizes the inputs used in measuring financial instruments at fair value into three levels based on their market observability. Market price observability is affected by a number of factors, such as the type of instrument and the characteristics specific to the instrument. Financial instruments with readily available quoted prices from an active market or for which fair value can be measured based on actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment inherent in measuring fair value.
	Financial assets and liabilities measured and reported at fair value are classified as follows:

	•	Level I – Quoted unadjusted prices for identical instruments in active markets to which the Company has access at the date of measurement. The types of investments in Level I include exchange-traded equities, debt and derivatives with quoted prices.

	•	Level II – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are directly or indirectly observable. Level II inputs include interest rates, yield curves, volatilities, prepayment risks, loss severities, credit risks and default rates. The types of investments in Level II generally include corporate bonds and loans, government and agency securities, less liquid and restricted equity investments, over-the-counter traded derivatives, and other investments where the fair value is based on observable inputs.

	•	Level III – Valuations for which one or more significant inputs are unobservable. These inputs reflect the Company’s assessment of the assumptions that market participants use to value the investment based on the best available information. Level III inputs include prices of quoted securities in markets for which there are few transactions, less public information exists or prices vary among brokered market makers. The types of investments in Level III include non-publicly traded equity, debt, real estate and derivatives.
	In some instances, an instrument may fall into multiple levels of the fair-value hierarchy. In such instances, the instrument’s level within the fair-value hierarchy is based on the lowest of the three levels (with Level III being the lowest) that is significant to the fair-value measurement. The Company’s assessment of the significance of an input requires judgment and considers factors specific to the instrument. The Company accounts for the transfer of assets into or out of each fair-value hierarchy level as of the beginning of the reporting period.
	In the absence of observable market prices, the Company values Level III investments using valuation methodologies applied on a consistent basis. The quarterly valuation process for Level III investments begins with each portfolio company, property or security being valued by the investment or valuation teams. The valuations are then reviewed and approved by the valuation team and the valuation committee of each investment strategy, which consists of senior members of the investment team. All Level III investment values are ultimately approved by the valuation committees and designated investment professionals, as well as the valuation officer, who is independent of the investment teams. For certain investments, the valuation process also includes a review by independent valuation parties, at least annually, to determine whether the fair values determined by management are reasonable. Results of the valuation process are evaluated each quarter, including an assessment of whether the underlying calculations should be adjusted or recalibrated. In connection with this process, the Company evaluates changes in fair-value measurements from period to period for reasonableness, considering items such as industry trends, general economic and market conditions, and factors specific to the investment.
	Certain Level III assets are valued using prices obtained from brokers or pricing vendors. The Company obtains an average of one to two broker quotes. The Company seeks to obtain at least one quote directly from a broker making a market for the asset and one price from a pricing vendor for the subject or similar securities. These investments are classified as Level III because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities, or may require adjustment for investment-specific factors or restrictions. Generally, the Company does not adjust any of the prices received from these sources, and all prices are reviewed by the Company. The Company evaluates the prices obtained from brokers or pricing vendors based on available market information, including trading activity of the subject or similar securities, or by performing a comparable security analysis to ensure that fair values are reasonably estimated. The Company also performs back-testing of valuation information obtained from brokers and pricing vendors against actual prices received in transactions. In addition to on-going monitoring and back-testing, the Company performs due diligence procedures over pricing vendors to understand their methodology and controls to support their use in the valuation process.
	Fair Value Option
	The Company has elected the fair value option for certain corporate investments that otherwise would not have reflected unrealized gains and losses in current-period earnings. Such election is irrevocable and is applied on an investment-by-investment basis at initial recognition. Unrealized gains and losses resulting from changes in fair value are reflected as a component of investment income in the condensed consolidated statements of operations. The Company's accounting for those investments is similar to its accounting for investments held by the consolidated funds at fair value and the valuation methods used to determine the fair value of those investments.
	In addition, the Company has elected the fair value option for the assets of its CLOs. Assets of the CLOs are included in investments, at fair value and liabilities of the CLOs are reflected in collateralized loan obligation loans payable in the condensed consolidated statements of financial condition. The Company's accounting for CLOs is similar to its accounting for closed-end funds with respect to both carrying investments held by CLOs at fair value and the valuation methods used to determine the fair value of those investments. Realized gains or losses and changes in the fair value of consolidated CLO assets are included in net realized gain on consolidated funds’ investments and net change in unrealized appreciation (depreciation) on consolidated funds’ investments, respectively, in the condensed consolidated statements of operations. Interest income of CLOs is included in interest and dividend income, while their interest expense and other expenses are included in interest expense and consolidated fund expenses, respectively, in the condensed consolidated statements of operations.
	Investments, at Fair Value
	The consolidated funds are primarily investment limited partnerships that reflect their investments, including majority-owned and controlled investments, at fair value. The Company has retained the specialized investment company accounting guidance under GAAP for those consolidated funds with respect to consolidated investments. Thus, the consolidated investments are reflected in the condensed consolidated statements of financial condition at fair value, with unrealized gains and losses resulting from changes in fair value reflected as a component of net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the condensed consolidated statements of operations. Fair value is the amount 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 (i.e., the exit price).
	Non-publicly traded debt and equity securities and other securities or instruments for which reliable market quotations are not available are valued by management using valuation methodologies applied on a consistent basis. These securities may initially be valued at the acquisition price as the best indicator of fair value. The Company reviews the significant unobservable inputs, valuations of comparable investments and other similar transactions for investments valued at acquisition price to determine whether another valuation methodology should be utilized. Subsequent valuations will depend on the facts and circumstances known as of the valuation date and the application of valuation methodologies further described below under “—Non-publicly Traded Equity and Real Estate Investments.” The fair value may also be based on a pending transaction expected to close after the valuation date.
	Exchange-traded Investments
	Securities listed on one or more national securities exchanges are valued at their last reported sales price on the date of valuation. If no sale occurred on the valuation date, the security is valued at the mean of the last “bid” and “ask” prices on the valuation date. Securities that are not readily marketable due to legal restrictions that may limit or restrict transferability are generally valued at a discount from quoted market prices. The discount would reflect the amount market participants would require due to the risk relating to the inability to access a public market for the security for the specified period and would vary depending on the nature and duration of the restriction and the perceived risk and volatility of the underlying securities. Securities with longer duration restrictions or higher volatility are generally valued at a higher discount. Such discounts are generally estimated based on put option models or an analysis of market studies. Instances where the Company has applied discounts to quoted prices of restricted listed securities have been infrequent. The impact of such discounts is not material to the Company’s condensed consolidated statements of financial condition and results of operations for all periods presented.
	Credit-oriented Investments (including Real Estate Loan Portfolios)
	Investments in corporate and government debt which are not listed or admitted to trading on any securities exchange are valued at the mean of the last bid and ask prices on the valuation date based on quotations supplied by recognized quotation services or by reputable broker-dealers.
	The market-yield approach is considered in the valuation of non-publicly traded debt securities, utilizing expected future cash flows and discounted using estimated current market rates. Discounted cash-flow calculations may be adjusted to reflect current market conditions and/or the perceived credit risk of the borrower. Consideration is also given to a borrower’s ability to meet principal and interest obligations; this may include an evaluation of collateral and/or the underlying value of the borrower utilizing techniques described below under “—Non-publicly Traded Equity and Real Estate Investments.”
	Non-publicly Traded Equity and Real Estate Investments
	The fair value of equity and real estate investments is determined using a cost, market or income approach. The cost approach is based on the current cost of reproducing a real estate investment less deterioration and functional and economic obsolescence. The market approach utilizes valuations of comparable public companies and transactions, and generally seeks to establish the enterprise value of the portfolio company or investment property using a market-multiple methodology. This approach takes into account the financial measure (such as EBITDA, adjusted EBITDA, free cash flow, net operating income, net income, book value or net asset value) believed to be most relevant for the given company or investment property. Consideration also may be given to factors such as acquisition price of the security or investment property, historical and projected operational and financial results for the portfolio company, the strengths and weaknesses of the portfolio company or investment property relative to its comparable companies or properties, industry trends, general economic and market conditions, and others deemed relevant. The income approach is typically a discounted cash-flow method that incorporates expected timing and level of cash flows. It incorporates assumptions in determining growth rates, income and expense projections, discount and capitalization rates, capital structure, terminal values, and other factors. The applicability and weight assigned to market and income approaches are determined based on the availability of reliable projections and comparable companies and transactions.
	The valuation of securities may be impacted by expectations of investors’ receptiveness to a public offering of the securities, the size of the holding of the securities and any associated control, information with respect to transactions or offers for the securities (including the transaction pursuant to which the investment was made and the elapsed time from the date of the investment to the valuation date), and applicable restrictions on the transferability of the securities.
	These valuation methodologies involve a significant degree of management judgment. Accordingly, valuations by the Company do not necessarily represent the amounts that eventually may be realized from sales or other dispositions of investments. Fair values may differ from the values that would have been used had a ready market for the investment existed, and the differences could be material to the condensed consolidated financial statements.
	Recent Accounting Developments
	In August 2014, the Financial Accounting Standards Board (“FASB”) issued guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The guidance requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements. Additionally, an entity must provide certain disclosures if there is substantial doubt about the entity's ability to continue as a going concern. The guidance is effective for the Company in the fourth quarter of 2016, with early adoption permitted. The Company does not expect that adoption of this guidance will have a material impact on its condensed consolidated financial statements.
	In August 2014, the FASB issued guidance on measuring the financial assets and financial liabilities of a consolidated collateralized financing entity. The guidance applies to reporting entities that are required to consolidate a collateralized financing entity under the VIE guidance when (a) the reporting entity measures all of the financial assets and financial liabilities of that consolidated financing entity at fair value in the consolidated financial statements and (b) the changes in the fair values of those financial assets and financial liabilities are reflected in earnings. The guidance provides an alternative for measuring the financial assets and financial liabilities of a consolidated collateralized financing entity to eliminate differences in the fair value of those financial assets and financial liabilities as determined under GAAP. The guidance is effective for the Company in the first quarter of 2016, with early adoption permitted. The Company is currently evaluating the effect that adoption may have on its condensed consolidated financial statements.
	In May 2014, the FASB and International Accounting Standards Board issued converged guidance on revenue recognition, which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance provides a largely principles-based framework for addressing revenue recognition issues on a comprehensive basis, eliminates an entity’s ability to recognize revenue if there is risk of significant reversal, and requires enhanced disclosures to provide greater insight into both revenue that has been recognized and revenue that is expected to be recognized in the future from existing contracts, including quantitative and qualitative information about significant judgments and changes in those judgments made by management in recognizing revenue. The guidance is effective for the Company in the first quarter of 2017, with retrospective application. The Company is currently evaluating the effect that adoption may have on its condensed consolidated financial statements.
	In June 2013, the FASB issued guidance that amended the criteria by which an entity qualifies as an investment company for accounting purposes. The guidance also clarified the characteristics of and provided measurement and disclosure requirements for an investment company. The Company adopted this guidance in the first quarter of 2014, which resulted in additional disclosures (please see note 13), but did not have a material impact on its condensed consolidated financial statements.

BUSINESS_COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
BUSINESS COMBINATIONS	Sep. 30, 2014
Business Combinations [Abstract]	'
BUSINESS COMBINATIONS	'
	BUSINESS COMBINATIONS
	On August 1, 2014, the Company completed its acquisition of the Highstar Capital team (“Highstar”) and certain Highstar entities for $31.4 million in cash, 100,595 OCGH units and contingent consideration of up to $60 million. Highstar is an investment management firm specializing in U.S. energy infrastructure, waste management and transportation. The transaction, which was immaterial to Oaktree, resulted in $50.8 million of goodwill, $28.0 million of intangible assets, primarily consisting of contractual rights associated with the management of Highstar Capital IV, L.P. (“Fund IV”), and $72.2 million of non-controlling interests in certain acquired subsidiaries that principally relate to investments in Fund IV. The Company consolidated the financial position and results of operations of the controlled Highstar entities, including Fund IV, as of August 1, 2014, and accounted for this transaction as a business combination.

INVESTMENTS_AT_FAIR_VALUE

INVESTMENTS, AT FAIR VALUE	9 Months Ended
	Sep. 30, 2014
Investments [Abstract]	'
INVESTMENTS, AT FAIR VALUE	'
	INVESTMENTS, AT FAIR VALUE
	Investments held and securities sold short by the consolidated funds are summarized below:


		Fair Value as of						Fair Value as a Percentage of Investments of Consolidated Funds as of
	Investments:	September 30,			December 31,			September 30,			December 31,
		2014			2013			2014			2013
	United States:
	Debt securities:
	Consumer discretionary	$	2,884,039		$	3,017,755		6.4	%		7.6	%

	Consumer staples	585,963			801,959			1.3			2

	Energy	909,878			650,336			2			1.6

	Financials	613,796			554,115			1.4			1.4

	Government	145,965			—			0.3			—

	Health care	1,002,629			600,570			2.2			1.5

	Industrials	1,798,894			1,768,600			4			4.4

	Information technology	1,142,531			1,130,614			2.5			2.8

	Materials	1,501,061			1,094,476			3.3			2.7

	Telecommunication services	325,599			289,046			0.7			0.7

	Utilities	1,513,060			2,182,098			3.3			5.6

	Total debt securities (cost: $12,661,266 and $12,008,435 as of September 30, 2014 and December 31, 2013, respectively)	12,423,415			12,089,569			27.4			30.3

	Equity securities:
	Consumer discretionary	2,709,327			3,164,000			6			7.9

	Consumer staples	530,953			482,521			1.2			1.2

	Energy	1,721,697			570,839			3.8			1.4

	Financials	7,075,077			6,474,365			15.6			16.3

	Health care	263,805			310,582			0.6			0.8

	Industrials	2,940,799			1,840,900			6.5			4.6

	Information technology	229,594			227,608			0.5			0.6

	Materials	951,037			923,933			2.1			2.3

	Telecommunication services	31,600			51,881			0			0.1

	Utilities	271,029			193,984			0.6			0.5

	Total equity securities (cost: $13,350,827 and $11,104,484 as of September 30, 2014 and December 31, 2013, respectively)	16,724,918			14,240,613			36.9			35.7



		Fair Value as of						Fair Value as a Percentage of Investments of Consolidated Funds as of
	Investments:	September 30,			December 31,			September 30,			December 31,
		2014			2013			2014			2013
	Europe:

Debt securities:
Consumer discretionary	$	1,454,743		$	1,519,530		3.2	%		3.8	%

Consumer staples	187,613			159,489			0.4			0.4

Energy	376,966			295,942			0.8			0.7

Financials	696,012			612,123			1.5			1.5

Health care	92,525			39,189			0.2			0.1

Industrials	347,871			378,797			0.8			1

Information technology	47,921			22,216			0.1			0.1

Materials	463,134			663,984			1			1.7

Telecommunication services	111,857			175,231			0.3			0.4

Utilities	25,444			18,581			0.1			0

Total debt securities (cost: $3,776,455 and $3,349,740 as of September 30, 2014 and December 31, 2013, respectively)	3,804,086			3,885,082			8.4			9.7

Equity securities:
Consumer discretionary	224,628			198,045			0.5			0.5

Consumer staples	49,204			385,595			0.1			1

Energy	122,805			129,207			0.3			0.3

Financials	4,223,002			2,763,198			9.3			6.9

Health care	54,600			13,084			0.1			0

Industrials	1,353,026			784,524			3			2

Information technology	2,052			1,341			0			0

Materials	389,389			249,732			0.9			0.6

Telecommunication services	—			1,382			—			0

Total equity securities (cost: $5,780,068 and $4,111,171 as of September 30, 2014 and December 31, 2013, respectively)	6,418,706			4,526,108			14.2			11.3

Asia and other:
Debt securities:
Consumer discretionary	139,071			93,087			0.3			0.2

Consumer staples	58,411			25,424			0.1			0.1

Energy	163,261			74,167			0.4			0.2

Financials	287,028			159,369			0.6			0.4

Government	47,623			—			0.1			—

Health care	50,078			31,057			0.1			0.1

Industrials	834,675			1,247,793			1.8			3.1

Information technology	23,841			21,842			0.1			0.1

Materials	200,514			84,107			0.5			0.2

Telecommunication services	—			1,884			—			0

Utilities	10,299			6,808			0			0

Total debt securities (cost: $1,726,021 and $1,639,694 as of September 30, 2014 and December 31, 2013, respectively)	1,814,801			1,745,538			4			4.4



	Fair Value as of						Fair Value as a Percentage of Investments of Consolidated Funds as of
Investments:	September 30,			December 31,			September 30,			December 31,
	2014			2013			2014			2013
Asia and other:
Equity securities:

Consumer discretionary	$	656,264		$	422,731		1.5	%		1.1	%

Consumer staples	127,359			42,937			0.3			0.1

Energy	326,006			267,494			0.7			0.7

Financials	1,414,268			1,211,033			3.1			3

Health care	28,125			8,124			0.1			0

Industrials	919,351			1,136,934			2			2.9

Information technology	333,143			130,714			0.7			0.3

Materials	136,789			63,395			0.3			0.2

Telecommunication services	—			17,719			—			0

Utilities	177,118			123,897			0.4			0.3

Total equity securities (cost: $3,308,870 and $2,734,160 as of September 30, 2014 and December 31, 2013, respectively)	4,118,423			3,424,978			9.1			8.6

Total debt securities	18,042,302			17,720,189			39.8			44.4

Total equity securities	27,262,047			22,191,699			60.2			55.6

Total investments, at fair value	$	45,304,349		$	39,911,888		100	%		100	%

Securities Sold Short:
Securities sold short – equities (proceeds: $98,188 and $137,092 as of September 30, 2014 and December 31, 2013, respectively)	$	(89,869	)	$	(140,251	)
As of September 30, 2014 and December 31, 2013, no single issuer or investment had a fair value that exceeded 5% of Oaktree’s total consolidated net assets.
Net Gains From Investment Activities of Consolidated Funds
Net gains from investment activities in the condensed consolidated statements of operations consist primarily of the realized and unrealized gains and losses on the consolidated funds’ investments (including foreign exchange gains and losses attributable to foreign-denominated investments and related activities) and other financial instruments. Unrealized gains or losses result from changes in the fair value of these investments and other financial instruments. Upon disposition of an investment, unrealized gains or losses are reversed and an offsetting realized gain or loss is recognized in the current period.
The following table summarizes net gains (losses) from investment activities:


	Three Months Ended September 30,
	2014						2013
	Net Realized Gain (Loss) on Investments			Net Change in Unrealized Appreciation (Depreciation) on Investments			Net Realized Gain (Loss) on Investments				Net Change in Unrealized Appreciation (Depreciation) on Investments
Investments and other financial instruments	$	445,304		$	(1,970,423	)	$	760,923			$	306,542

Foreign currency forward contracts (1)	(12,035		)	346,855			9,382				(222,589		)

Total-return, credit-default and interest-rate swaps (1)	(2,829		)	(22,726		)	(1,235		)		19,637

Options and futures (1)	(1,507		)	6,233			(2,871		)		(5,817		)

Swaptions (2)	(666		)	1,325			—				—

Total	$	428,267		$	(1,638,736	)	$	766,199			$	97,773



	Nine Months Ended September 30,
	2014						2013
	Net Realized Gain (Loss) on Investments			Net Change in Unrealized Appreciation (Depreciation) on Investments			Net Realized Gain (Loss) on Investments				Net Change in Unrealized Appreciation (Depreciation) on Investments
Investments and other financial instruments	$	1,684,794		$	(470,724	)	$	2,773,547			$	998,935

Foreign currency forward contracts (1)	(106,223		)	342,592			28,934				(38,598		)

Total-return, credit-default and interest-rate swaps (1)	41,086			(36,290		)	2,648				44,396

Options and futures (1)	(22,395		)	41			(8,681		)		2,762

Swaptions (2)	(666		)	(3,987		)	—				—

Total	$	1,596,596		$	(168,368	)	$	2,796,448			$	1,007,495





-1	Please see note 6 for additional information.

-2	A swaption is an option granting the buyer the right but not the obligation to enter into a swap agreement on a specified future date.

FAIR_VALUE

FAIR VALUE	9 Months Ended
FAIR VALUE	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
FAIR VALUE	'
	FAIR VALUE
	Fair Value of Financial Assets and Liabilities
	The short-term nature of cash and cash-equivalents, receivables and accounts payable causes each of their carrying values to approximate fair value. The fair value of short-term investments included in cash and cash-equivalents is a Level I valuation. The Company’s other financial assets and liabilities by fair-value hierarchy level are set forth below:


		As of September 30, 2014																As of December 31, 2013
		Level I				Level II				Level III				Total				Level I				Level II				Level III			Total
	Assets
	U.S. Treasury securities (1)	$	480,362			$	—			$	—			$	480,362			$	676,600			$	—			$	—		$	676,600
	U.S. Treasury securities (1)	$	480,362			$	—			$	—			$	480,362			$	676,600			$	—			$	—		$	676,600
	Forward currency contracts (2)	—				20,360				—				20,360				—				7,893				—			7,893
	Forward currency contracts (2)	—				20,360				—				20,360				—				7,893				—			7,893
	Total-return swap (2)	—				—				—				—				—				4,515				—			4,515
	Total-return swap (2)	—				—				—				—				—				4,515				—			4,515
	Total assets	$	480,362			$	20,360			$	—			$	500,722			$	676,600			$	12,408			$	—		$	689,008
	Total assets	$	480,362			$	20,360			$	—			$	500,722			$	676,600			$	12,408			$	—		$	689,008

	Liabilities
	Contingent consideration (3)	$	—			$	—			$	(25,559	)		$	(25,559	)		$	—			$	—			$	—		$	—
	Contingent consideration (3)	$	—			$	—			$	(25,559	)		$	(25,559	)		$	—			$	—			$	—		$	—
	Forward currency contracts (3)	—				(1,636		)		—				(1,636		)		—				(6,141		)		—			(6,141		)
	Forward currency contracts (3)	—				(1,636		)		—				(1,636		)		—				(6,141		)		—			(6,141		)
	Interest-rate swaps (3)	—				(2,521		)		—				(2,521		)		—				(4,171		)		—			(4,171		)
	Interest-rate swaps (3)	—				(2,521		)		—				(2,521		)		—				(4,171		)		—			(4,171		)
	Total liabilities	$	—			$	(4,157	)		$	(25,559	)		$	(29,716	)		$	—			$	(10,312	)		$	—		$	(10,312	)
	Total liabilities	$	—			$	(4,157	)		$	(25,559	)		$	(29,716	)		$	—			$	(10,312	)		$	—		$	(10,312	)




	-1	Carrying value approximates fair value due to the short-term nature.

	-2	Amounts are included in other assets in the condensed consolidated statements of financial condition.

	-3	Amounts are included in accounts payable, accrued expenses and other liabilities in the condensed consolidated statements of financial condition.
	Fair Value of Financial Instruments Held By Consolidated Funds
	The short-term nature of cash and cash-equivalents held at the consolidated funds causes their carrying value to approximate fair value. The fair value of cash-equivalents is a Level I valuation. The table below summarizes the investments and other financial instruments of the consolidated funds by fair-value hierarchy level:


		As of September 30, 2014																As of December 31, 2013
		Level I				Level II				Level III				Total				Level I				Level II				Level III			Total
	Assets
	Investments:
	Corporate debt – bank debt	$	—			$	7,943,937			$	2,031,963			$	9,975,900			$	—			$	7,352,129			$	2,809,437		$	10,161,566
	Corporate debt – bank debt	$	—			$	7,943,937			$	2,031,963			$	9,975,900			$	—			$	7,352,129			$	2,809,437		$	10,161,566
	Corporate debt – all other	475				5,508,260				2,557,667				8,066,402				798				5,125,646				2,432,179			7,558,623
	Corporate debt – all other	475				5,508,260				2,557,667				8,066,402				798				5,125,646				2,432,179			7,558,623
	Equities – common stock	6,101,129				237,450				9,552,077				15,890,656				4,804,068				1,109,270				6,700,015			12,613,353
	Equities – common stock	6,101,129				237,450				9,552,077				15,890,656				4,804,068				1,109,270				6,700,015			12,613,353
	Equities – preferred stock	15,267				2,472				1,239,394				1,257,133				4,101				8,483				919,771			932,355
	Equities – preferred stock	15,267				2,472				1,239,394				1,257,133				4,101				8,483				919,771			932,355
	Real estate	—				—				7,799,206				7,799,206				—				37,184				6,221,294			6,258,478
	Real estate	—				—				7,799,206				7,799,206				—				37,184				6,221,294			6,258,478
	Real estate loan portfolios	—				—				2,297,898				2,297,898				—				—				2,369,441			2,369,441
	Real estate loan portfolios	—				—				2,297,898				2,297,898				—				—				2,369,441			2,369,441
	Other	1,367				—				15,787				17,154				2,656				1,708				13,708			18,072
	Other	1,367				—				15,787				17,154				2,656				1,708				13,708			18,072
	Total investments	6,118,238				13,692,119				25,493,992				45,304,349				4,811,623				13,634,420				21,465,845			39,911,888
	Total investments	6,118,238				13,692,119				25,493,992				45,304,349				4,811,623				13,634,420				21,465,845			39,911,888
	Derivatives:
	Forward currency contracts	—				312,939				—				312,939				—				51,765				—			51,765
	Forward currency contracts	—				312,939				—				312,939				—				51,765				—			51,765
	Swaps	—				14,750				4,093				18,843				—				18,318				—			18,318
	Swaps	—				14,750				4,093				18,843				—				18,318				—			18,318
Options and futures	3,040				27,932				—				30,972				101				18,037				—			18,138
Options and futures	3,040				27,932				—				30,972				101				18,037				—			18,138
Swaptions	—				1,530				—				1,530				—				6,716				—			6,716
Swaptions	—				1,530				—				1,530				—				6,716				—			6,716
Total derivatives	3,040				357,151				4,093				364,284				101				94,836				—			94,937
Total derivatives	3,040				357,151				4,093				364,284				101				94,836				—			94,937
Total assets	$	6,121,278			$	14,049,270			$	25,498,085			$	45,668,633			$	4,811,724			$	13,729,256			$	21,465,845		$	40,006,825
Total assets	$	6,121,278			$	14,049,270			$	25,498,085			$	45,668,633			$	4,811,724			$	13,729,256			$	21,465,845		$	40,006,825

Liabilities
Securities sold short – equities	$	(89,869	)		$	—			$	—			$	(89,869	)		$	(140,251	)		$	—			$	—		$	(140,251	)
Securities sold short – equities	$	(89,869	)		$	—			$	—			$	(89,869	)		$	(140,251	)		$	—			$	—		$	(140,251	)
Derivatives:
Forward currency contracts	—				(48,247		)		—				(48,247		)		—				(135,246		)		—			(135,246		)
Forward currency contracts	—				(48,247		)		—				(48,247		)		—				(135,246		)		—			(135,246		)
Swaps	—				(42,947		)		—				(42,947		)		—				(7,096		)		—			(7,096		)
Swaps	—				(42,947		)		—				(42,947		)		—				(7,096		)		—			(7,096		)
Options and futures	(206		)		(4,391		)		—				(4,597		)		(5,030		)		(1,184		)		—			(6,214		)
Options and futures	(206		)		(4,391		)		—				(4,597		)		(5,030		)		(1,184		)		—			(6,214		)
Swaptions	—				(572		)		—				(572		)		—				(1,324		)		—			(1,324		)
Swaptions	—				(572		)		—				(572		)		—				(1,324		)		—			(1,324		)
Total derivatives	(206		)		(96,157		)		—				(96,363		)		(5,030		)		(144,850		)		—			(149,880		)
Total derivatives	(206		)		(96,157		)		—				(96,363		)		(5,030		)		(144,850		)		—			(149,880		)
Total liabilities	$	(90,075	)		$	(96,157	)		$	—			$	(186,232	)		$	(145,281	)		$	(144,850	)		$	—		$	(290,131	)
Total liabilities	$	(90,075	)		$	(96,157	)		$	—			$	(186,232	)		$	(145,281	)		$	(144,850	)		$	—		$	(290,131	)

The following tables summarize changes in the fair value of the Level III investments:


		Corporate Debt – Bank Debt				Corporate Debt – All Other				Equities – Common Stock				Equities – Preferred Stock				Real Estate				Real Estate Loan Portfolios				Swaps			Other			Total
Three Months Ended
September 30, 2014:
Beginning balance		$	1,944,391			$	2,346,508			$	8,334,621			$	1,200,716			$	8,020,570			$	2,516,827			$	836		$	14,887		$	24,379,356
Beginning balance		$	1,944,391			$	2,346,508			$	8,334,621			$	1,200,716			$	8,020,570			$	2,516,827			$	836		$	14,887		$	24,379,356
Transfers into Level III		3,976				151,436				428,142				—				3,925				—				—			—			587,479
Transfers into Level III		3,976				151,436				428,142				—				3,925				—				—			—			587,479
Transfers out of Level III		(219,950		)		—				(382,830		)		(76,821		)		(3,925		)		—				—			—			(683,526		)
Transfers out of Level III		(219,950		)		—				(382,830		)		(76,821		)		(3,925		)		—				—			—			(683,526		)
Purchases		484,567				222,089				1,547,303				73,276				453,157				48,822				—			1,000			2,830,214
Purchases		484,567				222,089				1,547,303				73,276				453,157				48,822				—			1,000			2,830,214
Sales		(128,806		)		(80,736		)		(160,046		)		(1,208		)		(690,580		)		(413,965		)		—			(232		)	(1,475,573		)
Sales		(128,806		)		(80,736		)		(160,046		)		(1,208		)		(690,580		)		(413,965		)		—			(232		)	(1,475,573		)
Realized gains (losses), net		15,274				(31,977		)		11,350				(893		)		167,963				87,627				—			(874		)	248,470
Realized gains (losses), net		15,274				(31,977		)		11,350				(893		)		167,963				87,627				—			(874		)	248,470
Unrealized appreciation (depreciation), net		(67,489		)		(49,653		)		(226,463		)		44,324				(151,904		)		58,587				3,257			1,006			(388,335		)
Unrealized appreciation (depreciation), net		(67,489		)		(49,653		)		(226,463		)		44,324				(151,904		)		58,587				3,257			1,006			(388,335		)
Ending balance		$	2,031,963			$	2,557,667			$	9,552,077			$	1,239,394			$	7,799,206			$	2,297,898			$	4,093		$	15,787		$	25,498,085
Ending balance		$	2,031,963			$	2,557,667			$	9,552,077			$	1,239,394			$	7,799,206			$	2,297,898			$	4,093		$	15,787		$	25,498,085
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period		$	(85,726	)		$	(7,465	)		$	(25,962	)		$	83,015			$	(42,386	)		$	58,587			$	3,257		$	(99	)	$	(16,779	)
		$	(85,726	)		$	(7,465	)		$	(25,962	)		$	83,015			$	(42,386	)		$	58,587			$	3,257		$	(99	)	$	(16,779	)
Three Months Ended
September 30, 2013:
Beginning balance		$	1,711,680			$	2,535,280			$	7,373,118			$	663,523			$	5,199,534			$	1,989,515			$	55,817		$	14,516		$	19,542,983
Beginning balance		$	1,711,680			$	2,535,280			$	7,373,118			$	663,523			$	5,199,534			$	1,989,515			$	55,817		$	14,516		$	19,542,983
Transfers into Level III		276,696				48,124				105,583				118,496				—				—				—			—			548,899
Transfers into Level III		276,696				48,124				105,583				118,496				—				—				—			—			548,899
Transfers out of Level III		(72,043		)		(14,544		)		(654,361		)		(9,991		)		—				—				—			—			(750,939		)
Transfers out of Level III		(72,043		)		(14,544		)		(654,361		)		(9,991		)		—				—				—			—			(750,939		)
Purchases		533,073				240,959				334,417				105,921				624,020				253,669				—			—			2,092,059
Purchases		533,073				240,959				334,417				105,921				624,020				253,669				—			—			2,092,059
Sales		(280,820		)		(254,764		)		(860,649		)		(723		)		(148,528		)		(357,451		)		—			—			(1,902,935		)
Sales		(280,820		)		(254,764		)		(860,649		)		(723		)		(148,528		)		(357,451		)		—			—			(1,902,935		)
Realized gains (losses), net		19,096				65,722				397,272				164				24,190				9,781				—			—			516,225
Realized gains (losses), net		19,096				65,722				397,272				164				24,190				9,781				—			—			516,225
Unrealized appreciation (depreciation), net		101,226				40,856				(226,424		)		(14,590		)		156,494				83,618				18,980			(401		)	159,759
Unrealized appreciation (depreciation), net		101,226				40,856				(226,424		)		(14,590		)		156,494				83,618				18,980			(401		)	159,759
Ending balance		$	2,288,908			$	2,661,633			$	6,468,956			$	862,800			$	5,855,710			$	1,979,132			$	74,797		$	14,115		$	20,206,051
Ending balance		$	2,288,908			$	2,661,633			$	6,468,956			$	862,800			$	5,855,710			$	1,979,132			$	74,797		$	14,115		$	20,206,051
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period		$	102,940			$	22,270			$	(14,316	)		$	30,688			$	138,039			$	83,618			$	18,973		$	(344	)	$	381,868
		$	102,940			$	22,270			$	(14,316	)		$	30,688			$	138,039			$	83,618			$	18,973		$	(344	)	$	381,868


		Corporate Debt – Bank Debt				Corporate Debt – All Other				Equities – Common Stock				Equities – Preferred Stock				Real Estate				Real Estate Loan Portfolios				Swaps			Other			Total
Nine Months Ended
September 30, 2014:
Beginning balance		$	2,809,437			$	2,432,179			$	6,700,015			$	919,771			$	6,221,294			$	2,369,441			$	—		$	13,708		$	21,465,845
Beginning balance		$	2,809,437			$	2,432,179			$	6,700,015			$	919,771			$	6,221,294			$	2,369,441			$	—		$	13,708		$	21,465,845
Transfers into Level III		816,797				313,982				852,824				—				132,502				—				—			—			2,116,105
Transfers into Level III		816,797				313,982				852,824				—				132,502				—				—			—			2,116,105
Transfers out of Level III		(1,768,697		)		(18,871		)		(876,178		)		(83,365		)		(94,821		)		—				—			—			(2,841,932		)
Transfers out of Level III		(1,768,697		)		(18,871		)		(876,178		)		(83,365		)		(94,821		)		—				—			—			(2,841,932		)
Purchases		888,791				501,385				3,068,812				249,973				2,146,535				699,234				—			2,000			7,556,730
Purchases		888,791				501,385				3,068,812				249,973				2,146,535				699,234				—			2,000			7,556,730
Sales		(735,809		)		(689,974		)		(477,359		)		(69,486		)		(1,268,380		)		(1,064,002		)		—			(232		)	(4,305,242		)
Sales		(735,809		)		(689,974		)		(477,359		)		(69,486		)		(1,268,380		)		(1,064,002		)		—			(232		)	(4,305,242		)
Realized gains (losses), net		120,750				87,061				76,760				(16,978		)		264,088				145,066				—			(874		)	675,873
Realized gains (losses), net		120,750				87,061				76,760				(16,978		)		264,088				145,066				—			(874		)	675,873
Unrealized appreciation (depreciation), net		(99,306		)		(68,095		)		207,203				239,479				397,988				148,159				4,093			1,185			830,706
Unrealized appreciation (depreciation), net		(99,306		)		(68,095		)		207,203				239,479				397,988				148,159				4,093			1,185			830,706
Ending balance		$	2,031,963			$	2,557,667			$	9,552,077			$	1,239,394			$	7,799,206			$	2,297,898			$	4,093		$	15,787		$	25,498,085
Ending balance		$	2,031,963			$	2,557,667			$	9,552,077			$	1,239,394			$	7,799,206			$	2,297,898			$	4,093		$	15,787		$	25,498,085
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period		$	(44,291	)		$	72,149			$	533,070			$	264,924			$	556,131			$	148,159			$	4,093		$	79		$	1,534,314
		$	(44,291	)		$	72,149			$	533,070			$	264,924			$	556,131			$	148,159			$	4,093		$	79		$	1,534,314
Nine Months Ended
September 30, 2013:
Beginning balance		$	2,253,476			$	3,159,051			$	8,101,051			$	650,096			$	3,946,142			$	1,737,822			$	44,705		$	15,547		$	19,907,890
Beginning balance		$	2,253,476			$	3,159,051			$	8,101,051			$	650,096			$	3,946,142			$	1,737,822			$	44,705		$	15,547		$	19,907,890
Transfers into Level III		440,605				59,544				698,735				385,099				15,055				—				—			—			1,599,038
Transfers into Level III		440,605				59,544				698,735				385,099				15,055				—				—			—			1,599,038
Transfers out of Level III		(669,172		)		(215,738		)		(1,059,337		)		(9,991		)		—				—				—			—			(1,954,238		)
Transfers out of Level III		(669,172		)		(215,738		)		(1,059,337		)		(9,991		)		—				—				—			—			(1,954,238		)
Purchases		827,924				358,510				685,588				203,315				1,556,156				849,342				—			—			4,480,835
Purchases		827,924				358,510				685,588				203,315				1,556,156				849,342				—			—			4,480,835
Sales		(708,296		)		(898,672		)		(2,277,253		)		(312,669		)		(497,633		)		(810,873		)		—			—			(5,505,396		)
Sales		(708,296		)		(898,672		)		(2,277,253		)		(312,669		)		(497,633		)		(810,873		)		—			—			(5,505,396		)
Realized gains (losses), net		18,523				157,027				922,320				55,985				169,388				27,713				—			—			1,350,956
Realized gains (losses), net		18,523				157,027				922,320				55,985				169,388				27,713				—			—			1,350,956
Unrealized appreciation (depreciation), net		125,848				41,911				(602,148		)		(109,035		)		666,602				175,128				30,092			(1,432		)	326,966
Unrealized appreciation (depreciation), net		125,848				41,911				(602,148		)		(109,035		)		666,602				175,128				30,092			(1,432		)	326,966
Ending balance		$	2,288,908			$	2,661,633			$	6,468,956			$	862,800			$	5,855,710			$	1,979,132			$	74,797		$	14,115		$	20,206,051
Ending balance		$	2,288,908			$	2,661,633			$	6,468,956			$	862,800			$	5,855,710			$	1,979,132			$	74,797		$	14,115		$	20,206,051
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period		$	90,534			$	101,485			$	119,749			$	(50,371	)		$	616,914			$	175,128			$	30,092		$	(1,376	)	$	1,082,155
		$	90,534			$	101,485			$	119,749			$	(50,371	)		$	616,914			$	175,128			$	30,092		$	(1,376	)	$	1,082,155

Total realized and unrealized gains and losses recorded for Level III investments are included in net realized gain on consolidated funds’ investments or net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the condensed consolidated statements of operations.
There were no transfers between Level I and Level II positions for the three months ended September 30, 2014 and 2013. Transfers between Level I and Level II positions for the nine months ended September 30, 2014 included $739.7 million from Level II to Level I due to the removal of discounts on three exchange-traded common equity investments upon the expiration of lockup periods and increased trading volume for one exchange-traded common equity investment. Transfers between Level I and Level II positions for the nine months ended September 30, 2013 included $1.1 billion from Level II to Level I for an investment in common equity that began trading on a securities exchange.
Transfers out of Level III were generally attributable to certain investments that experienced a more significant level of market trading activity during the respective period and thus were valued using observable inputs. Transfers into Level III typically reflected either investments that experienced a less significant level of market trading activity or portfolio companies that undertook restructurings or bankruptcy proceedings and thus were valued in the absence of observable inputs.
The following table sets forth a summary of the valuation technique and quantitative information utilized in determining the fair value of the consolidated funds’ Level III investments as of September 30, 2014:


Investment Type		Fair Value				Valuation Technique		Significant Unobservable Inputs (9)(10)(11)		Range		Weighted Average (12)

Credit-oriented investments:
Consumer		$	181,332			Discounted cash flow (1)		Discount rate		5% – 23%		12%
discretionary:		$	181,332			Discounted cash flow (1)		Discount rate		5% – 23%		12%
		577,793				Market approach		Earnings multiple (3)		3x – 12x		6x
		577,793				(comparable companies) (2)		Earnings multiple (3)		3x – 12x		6x
		133,396				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		133,396				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		181,786				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		181,786				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Financials:		163,038				Discounted cash flow (1)		Discount rate		12% – 17%		12%
Financials:		163,038				Discounted cash flow (1)		Discount rate		12% – 17%		12%
		55,438				Market approach		Underlying asset multiple		0.9x – 1.1x		1x
		55,438				(value of underlying assets) (2)(4)		Underlying asset multiple		0.9x – 1.1x		1x
		267,091				Discounted cash flow (1) /		Discount rate / Market transactions		6% – 8%		7%
		267,091				Sales approach (8)		Discount rate / Market transactions		6% – 8%		7%
		287,366				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		287,366				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		73,237				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		73,237				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Industrials:		244,077				Discounted cash flow (1)		Discount rate		5% – 19%		13%
Industrials:		244,077				Discounted cash flow (1)		Discount rate		5% – 19%		13%
		329,854				Discounted cash flow (1) /		Discount rate / Market transactions		10% – 16%		13%
		329,854				Sales approach (8)		Discount rate / Market transactions		10% – 16%		13%
		76,370				Market approach		Earnings multiple (3)		4x – 9x		6x
		76,370				(comparable companies) (2)		Earnings multiple (3)		4x – 9x		6x
		82,373				Market approach		Underlying asset multiple		0.9x – 1.1x		1x
		82,373				(value of underlying assets) (2)(4)		Underlying asset multiple		0.9x – 1.1x		1x
		65,511				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		65,511				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		173,719				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		173,719				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Materials:		102,767				Discounted cash flow (1)		Discount rate		11% – 14%		13%
Materials:		102,767				Discounted cash flow (1)		Discount rate		11% – 14%		13%
		187,709				Discounted cash flow (1) /		Discount rate / Market transactions		14% – 16%		15%
		187,709				Sales approach (8)		Discount rate / Market transactions		14% – 16%		15%
		204,270				Market approach		Earnings multiple (3)		7x – 8x		8x
		204,270				(comparable companies) (2)		Earnings multiple (3)		7x – 8x		8x
		85,568				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		85,568				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
Other:		462,283				Discounted cash flow (1)		Discount rate		5% – 14%		11%
Other:		462,283				Discounted cash flow (1)		Discount rate		5% – 14%		11%
		356,534				Market approach		Earnings multiple (3)		7x – 10x		9x
		356,534				(comparable companies) (2)		Earnings multiple (3)		7x – 10x		9x
		30,752				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		30,752				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		271,459				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		271,459				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Equity investments:
Energy:		52,699				Discounted cash flow (1)		Discount rate		10% – 12%		11%
Energy:		52,699				Discounted cash flow (1)		Discount rate		10% – 12%		11%





Investment Type		Fair Value				Valuation Technique		Significant Unobservable Inputs (9)(10)(11)		Range		Weighted Average (12)

		$	1,124,865			Market approach		Earnings multiple (3)		5x – 15x		12x
		$	1,124,865			(comparable companies) (2)		Earnings multiple (3)		5x – 15x		12x
		232,269				Recent transaction price (5)		Quoted prices / discount		Not applicable		Not applicable
		232,269				Recent transaction price (5)		(discount not applicable)		Not applicable		Not applicable
		186,091				Other		Not applicable		Not applicable		Not applicable
		186,091				Other		Not applicable		Not applicable		Not applicable
Industrials:		2,006,387				Market approach		Earnings multiple (3)		4x – 14x		8x
Industrials:		2,006,387				(comparable companies) (2)		Earnings multiple (3)		4x – 14x		8x
		2,394,023				Market approach		Underlying asset multiple		1x – 1.3x		1x
		2,394,023				(value of underlying assets) (2)(4)		Underlying asset multiple		1x – 1.3x		1x
		41,800				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		41,800				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		634,939				Recent market information (6)		Quoted prices / discount		0% – 5%		4%
		634,939				Recent market information (6)		Quoted prices / discount		0% – 5%		4%
Materials:		1,130,739				Market approach		Earnings multiple (3)		4x – 10x		8x
Materials:		1,130,739				(comparable companies) (2)		Earnings multiple (3)		4x – 10x		8x
		52,185				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		52,185				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		127,731				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		127,731				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Other:		1,497,860				Market approach		Earnings multiple (3)		4x – 13x		8x
Other:		1,497,860				(comparable companies) (2)		Earnings multiple (3)		4x – 13x		8x
		791,601				Market approach		Underlying asset multiple		1x – 1.4x		1.1x
		791,601				(value of underlying assets) (2)(4)		Underlying asset multiple		1x – 1.4x		1.1x
		237,468				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		237,468				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		226,671				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		226,671				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
		54,143				Other		Not applicable		Not applicable		Not applicable
		54,143				Other		Not applicable		Not applicable		Not applicable
Real estate-oriented
investments:
		2,779,492				Discounted cash flow (1)(7)		Discount rate		7% – 44%		14%
		2,779,492				Discounted cash flow (1)(7)		Discount rate		7% – 44%		14%
								Terminal capitalization rate		6% – 10%		8%
								Direct capitalization rate		5% – 8%		7%
								Net operating income growth rate		0% – 31%		9%
								Absorption rate		16% – 44%		35%
		1,629,207				Market approach		Earnings multiple (3)		6x – 18x		13x
		1,629,207				(comparable companies) (2)		Earnings multiple (3)		6x – 18x		13x
		619,892				Market approach		Underlying asset multiple		1.2x – 1.4x		1.3x
		619,892				(value of underlying assets) (2)(4)		Underlying asset multiple		1.2x – 1.4x		1.3x
		940,366				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		940,366				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		788,660				Recent market information (6)		Quoted prices / discount		0% – 5%		4%
		788,660				Recent market information (6)		Quoted prices / discount		0% – 5%		4%
		946,016				Sales approach (8)		Market transactions		Not applicable		Not applicable
		946,016				Sales approach (8)		Market transactions		Not applicable		Not applicable
		95,573				Other		Not applicable		Not applicable		Not applicable
		95,573				Other		Not applicable		Not applicable		Not applicable
Real estate loan
portfolios:
		1,441,573				Discounted cash flow (1)(7)		Discount rate		7% – 20%		14%
		1,441,573				Discounted cash flow (1)(7)		Discount rate		7% – 20%		14%
		856,325				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		856,325				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
Other		15,787
Other		15,787
Total Level III		$	25,498,085
investments		$	25,498,085
The following table sets forth a summary of the valuation technique and quantitative information utilized in determining the fair value of the Company’s Level III investments as of December 31, 2013:


Investment Type		Fair Value				Valuation Technique		Significant Unobservable Inputs (9)(10)(11)		Range		Weighted Average (12)

Credit-oriented investments:
Consumer		$	40,998			Discounted cash flow (1)		Discount rate		13% – 15%		14%
discretionary:		$	40,998			Discounted cash flow (1)		Discount rate		13% – 15%		14%
		571,865				Market approach		Earnings multiple (3)		4x – 11x		5x
		571,865				(comparable companies) (2)		Earnings multiple (3)		4x – 11x		5x
		321,619				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		321,619				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		139,002				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		139,002				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Industrials:		328,712				Discounted cash flow (1)		Discount rate		12% – 17%		14%
Industrials:		328,712				Discounted cash flow (1)		Discount rate		12% – 17%		14%
		335,270				Discounted cash flow (1) /		Discount rate / Market transactions		11% – 20%		14%
		335,270				Sales approach (8)		Discount rate / Market transactions		11% – 20%		14%
		59,349				Market approach		Earnings multiple (3)		4x – 6x		6x
		59,349				(comparable companies) (2)		Earnings multiple (3)		4x – 6x		6x
		77,550				Market approach		Underlying asset multiple		0.9x – 1.1x		1x
		77,550				(value of underlying assets) (2)(4)		Underlying asset multiple		0.9x – 1.1x		1x
		208,436				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		208,436				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		840,871				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		840,871				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Materials:		67,280				Discounted cash flow (1)		Discount rate		13% – 14%		13%
Materials:		67,280				Discounted cash flow (1)		Discount rate		13% – 14%		13%
		437,522				Market approach		Earnings multiple (3)		6x – 7x		6x
		437,522				(comparable companies) (2)		Earnings multiple (3)		6x – 7x		6x
		79,020				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		79,020				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
Other:		704,430				Discounted cash flow (1)		Discount rate		8% – 15%		11%
Other:		704,430				Discounted cash flow (1)		Discount rate		8% – 15%		11%
		337,406				Market approach		Earnings multiple (3)		6x – 7x		7x
		337,406				(comparable companies) (2)		Earnings multiple (3)		6x – 7x		7x
		291,925				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		291,925				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		400,361				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		400,361				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Equity investments:
Consumer		57,560				Discounted cash flow (1)		Discount rate		12% – 14%		13%
discretionary:		57,560				Discounted cash flow (1)		Discount rate		12% – 14%		13%
		504,550				Market approach		Earnings multiple (3)		4x – 11x		9x
		504,550				(comparable companies) (2)		Earnings multiple (3)		4x – 11x		9x
		97,834				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		97,834				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		140,705				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		140,705				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Financials:		344,636				Market approach		Earnings multiple (3)		12x – 14x		13x
Financials:		344,636				(comparable companies) (2)		Earnings multiple (3)		12x – 14x		13x
		407,823				Market approach		Underlying asset multiple		1x – 1.2x		1.1x
		407,823				(value of underlying assets) (2)(4)		Underlying asset multiple		1x – 1.2x		1.1x
		185,140				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		185,140				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
Industrials:		1,511,811				Market approach		Earnings multiple (3)		4x – 12x		8x
Industrials:		1,511,811				(comparable companies) (2)		Earnings multiple (3)		4x – 12x		8x
		1,064,686				Market approach		Underlying asset multiple		1x – 1.4x		1.1x
		1,064,686				(value of underlying assets) (2)(4)		Underlying asset multiple		1x – 1.4x		1.1x
		745,519				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		745,519				Recent transaction price (5)		Not applicable		Not applicable		Not applicable




Investment Type		Fair Value				Valuation Technique		Significant Unobservable Inputs (9)(10)(11)		Range		Weighted Average (12)

Materials:		$	1,014,930			Market approach		Earnings multiple (3)		6x – 8x		7x
Materials:		$	1,014,930			(comparable companies) (2)		Earnings multiple (3)		6x – 8x		7x
		1,604				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		1,604				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
		56,064				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		56,064				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
Other:		60,451				Discounted cash flow (1)		Discount rate		10% – 12%		11%
Other:		60,451				Discounted cash flow (1)		Discount rate		10% – 12%		11%
		1,052,158				Market approach		Earnings multiple (3)		5x – 11x		9x
		1,052,158				(comparable companies) (2)		Earnings multiple (3)		5x – 11x		9x
		21,790				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		21,790				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		107,361				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		107,361				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
		245,164				Other		Not applicable		Not applicable		Not applicable
		245,164				Other		Not applicable		Not applicable		Not applicable
Real estate-oriented
investments:
		1,997,927				Discounted cash flow (1)(7)		Discount rate		8% – 36%		14%
		1,997,927				Discounted cash flow (1)(7)		Discount rate		8% – 36%		14%
								Terminal capitalization rate		6% – 15%		8%
								Direct capitalization rate		7% – 8%		8%
								Net operating income growth rate		1% – 30%		9%
								Absorption rate		16% – 44%		32%
		1,230,234				Market approach		Earnings multiple (3)		6x – 12x		12x
		1,230,234				(comparable companies) (2)		Earnings multiple (3)		6x – 12x		12x
		427,452				Market approach		Underlying asset multiple		1.3x – 1.5x		1.4x
		427,452				(value of underlying assets) (2)(4)		Underlying asset multiple		1.3x – 1.5x		1.4x
		710,888				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		710,888				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		684,802				Sales approach (8)		Market transactions		Not applicable		Not applicable
		684,802				Sales approach (8)		Market transactions		Not applicable		Not applicable
		1,169,991				Recent market information (6)		Quoted prices / discount		0% – 6%		5%
		1,169,991				Recent market information (6)		Quoted prices / discount		0% – 6%		5%
Real estate loan
portfolios:
		593,986				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		593,986				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		1,775,455				Discounted cash flow (1)(7)		Discount rate		10% – 24%		15%
		1,775,455				Discounted cash flow (1)(7)		Discount rate		10% – 24%		15%
Other		13,708
Other		13,708
Total Level III		$	21,465,845
investments		$	21,465,845




-1	A discounted cash-flow method is generally used to value performing credit-oriented investments in which the consolidated funds do not have a controlling interest in the underlying issuer, as well as certain equity investments, real estate-oriented investments and real estate loan portfolios.

-2	A market approach is generally used to value distressed investments and investments in which the consolidated funds have a controlling interest in the underlying issuer.

-3	Earnings multiples are based on comparable public companies and transactions with comparable companies. The Company typically utilizes multiples of EBITDA; however, in certain cases the Company may use other earnings multiples believed to be most relevant to the investment. The Company typically applies the multiple to trailing twelve-months’ EBITDA. However, in certain cases other earnings measures, such as pro forma EBITDA, may be utilized if deemed to be more relevant.

-4	A market approach using the value of underlying assets utilizes a multiple, based on comparable companies, of underlying assets or the net book value of the portfolio company. The Company typically obtains the value of underlying assets from the underlying portfolio company’s financial statements or from pricing vendors. The Company may value the underlying assets by using prices and other relevant information from market transactions involving comparable assets.

-5	Certain investments are valued based on recent transactions, generally defined as investments purchased or sold within six months of the valuation date. The fair value may also be based on a pending transaction expected to close after the valuation date.

-6	Certain investments are valued using quoted prices for the subject or similar securities. Generally, investments valued in this manner are classified as Level III because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities, or may require adjustment for investment-specific factors or restrictions.

-7	The discounted cash flow model for certain real estate-oriented investments and certain real estate loan portfolios contains a sell-out analysis. In these cases, the discounted cash flow is based on the expected timing and prices of sales of the underlying properties. The Company’s determination of the sales prices of these properties typically includes consideration of prices and other relevant information from market transactions involving comparable properties.

-8	The sales approach uses prices and other relevant information generated by market transactions involving comparable assets. The significant unobservable inputs used in the sales approach generally include adjustments to transactions involving comparable assets or properties, adjustments to external or internal appraised values, and the Company’s assumptions regarding market trends or other relevant factors.

-9	The discount rate is the significant unobservable input used in the fair-value measurement of performing credit-oriented investments in which the consolidated funds do not have a controlling interest in the underlying issuer, as well as certain equity investments and real estate loan portfolios. An increase (decrease) in the discount rate would result in a lower (higher) fair-value measurement.

-10	Multiple of either earnings or underlying assets is the significant unobservable input used in the market approach for the fair-value measurement of distressed credit-oriented investments, credit-oriented investments in which the consolidated funds have a controlling interest in the underlying issuer, equity investments and certain real estate-oriented investments. An increase (decrease) in the multiple would result in a higher (lower) fair-value measurement.

-11	The significant unobservable inputs used in the fair-value measurement of real estate investments utilizing a discounted cash flow analysis can include one or more of the following: discount rate, terminal capitalization rate, direct capitalization rate, net operating income growth rate or absorption rate. An increase (decrease) in a discount rate, terminal capitalization rate or direct capitalization rate would result in a lower (higher) fair-value measurement. An increase (decrease) in a net operating income growth rate or absorption rate would result in a higher (lower) fair-value measurement. Generally, a change in a net operating income growth rate or absorption rate would be accompanied by a directionally similar change in the discount rate.

-12	The weighted average is based on the fair value of the investments included in the range.
A significant amount of judgment may be required when using unobservable inputs, including assessing the accuracy of source data and the results of pricing models. The Company assesses the accuracy and reliability of the sources it uses to develop unobservable inputs. These sources may include third-party vendors that the Company believes are reliable and commonly utilized by other market place participants. As described in note 2, other factors beyond the unobservable inputs described above may have a significant impact on investment valuations.
During the nine months ended September 30, 2014, the valuation technique for one Level III equity security and one Level III credit-oriented security changed from a valuation based on recent market information to a market approach based on comparable companies, because the investee underwent a restructuring and its securities are no longer traded. One Level III real estate-oriented investment changed from a valuation based on recent market information to a market approach based on comparable companies as a result of a lack of recent market transaction data. Additionally, the valuation technique for one Level III equity security and one Level III credit-oriented security changed from a valuation based on a discounted cash flow to a market approach based on comparable companies as a result of the evolution of the underlying investments.
During the nine months ended September 30, 2013, one Level III real estate-oriented investment commenced trading on a securities exchange, causing its valuation technique to change from a market approach based on the value of underlying assets to a valuation based on recent market information, as adjusted for factors stemming from the structure of the equity interests owned by the consolidated funds. Additionally, the valuation technique for certain Level III real estate loan portfolios changed to a discounted cash flow method from a combination of recent market and sales information due to the lack of recent market transactions.

HEDGES_AND_OTHER_DERIVATIVE_IN

HEDGES AND OTHER DERIVATIVE INSTRUMENTS	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
HEDGES AND OTHER DERIVATIVE INSTRUMENTS	'
	HEDGES AND OTHER DERIVATIVE INSTRUMENTS
	The Company enters into derivative instruments as part of its overall risk management strategy or to facilitate its investment management activities. Risks associated with fluctuations in interest rates and foreign currency exchange rates in the normal course of business are addressed as part of the Company’s overall risk management strategy that may include the use of derivative instruments to economically hedge or reduce these exposures. From time to time, the Company may enter into (a) foreign currency option and forward contracts to reduce earnings and cash-flow volatility associated with changes in foreign currency exchange rates, and (b) interest-rate swaps to manage all or a portion of the interest-rate risk associated with its variable-rate borrowings. As a result of the use of these or other derivative contracts, the Company is exposed to the risk that counterparties will fail to fulfill their contractual obligations. The Company attempts to mitigate this counterparty risk by entering into derivative contracts only with major financial institutions that have investment-grade credit ratings. Counterparty credit risk is evaluated in determining the fair value of derivative instruments.
	In January 2013, the Company entered into an interest-rate swap with a notional value of $175.0 million, of which $168.8 million was designated to hedge a portion of the interest-rate risk associated with its variable-rate borrowings. As of September 30, 2014, the Company had two interest-rate swaps designated as cash-flow hedges with a combined notional value of $356.3 million. These hedges continued to be effective as of that date. As of December 31, 2013, the Company had two interest-rate swaps designated as cash-flow hedges with a combined notional value of $378.8 million.
	In August 2013, to facilitate its investment management activities, the Company entered into a two-year total return swap (“TRS”) agreement with a financial institution to meet certain investment objectives for which the primary risk exposure was credit. Pursuant to the TRS agreement, the Company had deposited $50.0 million in cash collateral with the counterparty and had the ability to access up to $200.0 million of U.S. dollar-denominated debt securities underlying the TRS.
	In February 2014, the Company closed its TRS position resulting in realized gains of $7.1 million, and received $1.4 million in cash at closing. In connection with the launch of a CLO, the Company contributed the $50.0 million cash collateral deposit and $5.7 million of remaining realized gains due from the counterparty under the TRS agreement, and an additional $4.5 million in cash, to the CLO. The CLO purchased the underlying reference securities that were held by the counterparty under the TRS agreement at fair value of $312.9 million plus $1.0 million of interest receivable. The CLO paid $258.2 million in cash, net of the $50.0 million cash collateral deposit and $5.7 million of realized gains due from the counterparty under the TRS agreement. The CLO was funded with the Company's $60.2 million in aggregate contributions and net proceeds of $450.0 million in cash from the issuance of $456.0 million in senior secured notes to a third party, net of $6.0 million in debt issuance costs. Please see note 7 for more information regarding CLO loans payable.
	Freestanding derivatives are instruments that the Company enters into as part of its overall risk management strategy but does not designate as hedging instruments for accounting purposes. These instruments may include foreign currency exchange contracts, interest-rate swaps and other derivative contracts.
	The fair value of forward currency sell contracts consisted of the following:


	As of September 30, 2014:	Contract		Contract				Market			Net Unrealized
		Amount in		Amount in				Value in			Appreciation
		Local Currency		U.S. Dollars				U.S. Dollars			(Depreciation)
	Euro, expiring 10/8/14-9/30/15	163,120		$	221,421			$	206,346		$	15,075

	USD (buy GBP), expiring 10/31/14-9/30/15	78,034		78,034				79,671			(1,637		)

	Japanese Yen, expiring 10/31/14-9/30/15	7,314,300		72,102				66,816			5,286

	Total			$	371,557			$	352,833		$	18,724


	As of December 31, 2013:

	Euro, expiring 1/8/14-10/31/14	115,685		$	153,959			$	159,485		$	(5,526	)

	USD (buy GBP), expiring 1/8/14-9/30/14	54,361		54,361				50,286			4,075

	GBP, expiring 4/30/14	3,000		4,643				4,966			(323		)

	Japanese Yen, expiring 1/31/14-1/30/15	6,261,700		63,107				59,581			3,526

	Total			$	276,070			$	274,318		$	1,752

	There were no TRS positions outstanding as of September 30, 2014. The fair value of the TRS contract as of December 31, 2013 is included in other assets in the condensed consolidated statements of financial condition and is shown below.


		As of December 31, 2013
		Notional			Fair Value
	Total-return swap	$	189,089		$	4,515

	Realized and unrealized gains and losses arising from freestanding derivative instruments were recorded in the condensed consolidated statements of operations as follows:


		For the Three Months							For the Nine Months
		Ended September 30,							Ended September 30,
	Foreign Currency Forward Contracts:	2014			2013				2014			2013
	General and administrative expenses (1)	$	17,231		$	(3,531	)		$	18,325		$	1,318


	Total-return Swap:
	Investment income	$	—		$	132			$	2,554		$	132





	-1	To the extent that the Company’s freestanding derivatives are utilized to hedge its exposure to investment income and management fees earned from consolidated funds, the related hedged items are eliminated in consolidation, with the derivative impact (a positive number reflects a reduction of expenses) reflected in consolidated general and administrative expenses.
	As of both September 30, 2014 and December 31, 2013, the Company had not designated any derivatives as fair-value hedges or hedges of net investments in foreign operations.
	Derivatives Held By Consolidated Funds
	Certain consolidated funds utilize derivative instruments in ongoing investment operations. These derivatives primarily consist of foreign currency forward contracts and options utilized to manage currency risk, interest-rate swaps to hedge interest-rate risk, options and futures used to hedge exposure for specific securities, and total-return and credit-default swaps utilized mainly to obtain exposure to leveraged loans or to participate in foreign markets not readily accessible. The primary risk exposure for options and futures is price, while the primary risk exposure for total-return and credit-default swaps is credit. None of the derivative instruments are accounted for as hedging instruments utilizing hedge accounting.
	The average notional amounts of foreign currency and total-return swap contracts outstanding, respectively, during the nine months ended September 30, 2014 were $4.8 billion long and $286.1 million short, and $1.1 billion long and $21.7 million short.
	The impact of derivative instruments held by the consolidated funds in the condensed consolidated statements of operations was as follows:


	Three Months Ended September 30,
	2014							2013
	Net Realized Gain (Loss) on Investments			Net Change in Unrealized Appreciation (Depreciation) on Investments				Net Realized Gain (Loss) on Investments			Net Change in Unrealized Appreciation (Depreciation) on Investments
Foreign currency forward contracts	$	(12,035	)	$	346,855			$	9,382		$	(222,589	)

Total-return, credit-default and interest-rate swaps	(2,829		)	(22,726		)		(1,235		)	19,637

Options and futures	(1,507		)	6,233				(2,871		)	(5,817		)

Swaptions	(666		)	1,325				—			—

Total	$	(17,037	)	$	331,687			$	5,276		$	(208,769	)



	Nine Months Ended September 30,
	2014							2013
	Net Realized Gain (Loss) on Investments			Net Change in Unrealized Appreciation (Depreciation) on Investments				Net Realized Gain (Loss) on Investments			Net Change in Unrealized Appreciation (Depreciation) on Investments
Foreign currency forward contracts	$	(106,223	)	$	342,592			$	28,934		$	(38,598	)

Total-return, credit-default and interest-rate swaps	41,086			(36,290		)		2,648			44,396

Options and futures	(22,395		)	41				(8,681		)	2,762

Swaptions	(666		)	(3,987		)		—			—

Total	$	(88,198	)	$	302,356			$	22,901		$	8,560


Balance Sheet Offsetting
The Company recognizes all derivatives as assets or liabilities at fair value in its condensed consolidated statements of financial condition. In connection with its derivative activities, the Company generally enters into agreements subject to enforceable master netting arrangements that allow the Company to offset derivative assets and liabilities in the same currency by specific derivative type or, in the event of default by the counterparty, to offset derivative assets and liabilities with the same counterparty. The table below sets forth the setoff rights and related arrangements associated with derivative instruments held by the Company. The “gross amounts not offset in statements of financial condition” column represents derivative instruments that are eligible to be offset in accordance with applicable accounting guidance, but for which management has elected not to offset in the condensed consolidated statements of financial condition.


	Gross Amounts of Assets (Liabilities)			Gross Amounts Offset in Assets (Liabilities)				Net Amounts of Assets (Liabilities) Presented			Gross Amounts Not Offset in Statements of Financial Condition						Net Amount
As of September 30, 2014											Derivative Assets (Liabilities)			Cash Collateral Received (Pledged)
Derivative Assets:
Foreign currency forward contracts	$	20,360		$	—			$	20,360		$	4,157		$	—		$	16,203

Derivative assets of consolidated funds:
Foreign currency forward contracts	312,939			—				312,939			47,035			—			265,904

Total-return, credit-default and interest-rate swaps	18,843			—				18,843			14,031			—			4,812

Options and futures	30,972			—				30,972			11,075			—			19,897

Swaptions	1,530			—				1,530			1,530			—			—

Subtotal	364,284			—				364,284			73,671			—			290,613

Total	$	384,644		$	—			$	384,644		$	77,828		$	—		$	306,816


Derivative Liabilities:
Foreign currency forward contracts	$	(1,636	)	$	—			$	(1,636	)	$	(1,636	)	$	—		$	—

Interest-rate swaps	(2,521		)	—				(2,521		)	(2,521		)	—			—

Subtotal	(4,157		)	—				(4,157		)	(4,157		)	—			—

Derivative liabilities of consolidated funds:
Foreign currency forward contracts	(48,247		)	—				(48,247		)	(46,662		)	—			(1,585		)

Total-return, credit-default and interest-rate swaps	(42,947		)	—				(42,947		)	(22,046		)	(17,169		)	(3,732		)

Options and futures	(4,597		)	—				(4,597		)	(4,391		)	(206		)	—

Swaptions	(572		)	—				(572		)	(572		)	—			—

Subtotal	(96,363		)	—				(96,363		)	(73,671		)	(17,375		)	(5,317		)

Total	$	(100,520	)	$	—			$	(100,520	)	$	(77,828	)	$	(17,375	)	$	(5,317	)



	Gross Amounts of Assets (Liabilities)			Gross Amounts Offset in Assets (Liabilities)				Net Amounts of Assets (Liabilities) Presented			Gross Amounts Not Offset in Statements of Financial Condition						Net Amount
As of December 31, 2013											Derivative Assets (Liabilities)			Cash Collateral Received (Pledged)
Derivative Assets:
Foreign currency forward contracts	$	7,893		$	—			$	7,893		$	5,951		$	—		$	1,942

Total-return swaps	4,515			—				4,515			—			—			4,515

Subtotal	12,408			—				12,408			5,951			—			6,457

Derivative assets of consolidated funds:
Foreign currency forward contracts	51,765			—				51,765			31,223			—			20,542

Total-return, credit-default and interest-rate swaps	18,318			—				18,318			483			—			17,835

Options and futures	18,138			—				18,138			—			—			18,138

Swaptions	6,716			—				6,716			1,324			—			5,392

Subtotal	94,937			—				94,937			33,030			—			61,907

Total	$	107,345		$	—			$	107,345		$	38,981		$	—		$	68,364


Derivative Liabilities:
Foreign currency forward contracts	$	(6,141	)	$	—			$	(6,141	)	$	(4,466	)	$	—		$	(1,675	)

Interest-rate swaps	(4,171		)	—				(4,171		)	(1,485		)	—			(2,686		)

Subtotal	(10,312		)	—				(10,312		)	(5,951		)	—			(4,361		)

Derivative liabilities of consolidated funds:
Foreign currency forward contracts	(135,246		)	—				(135,246		)	(31,223		)	(11,583		)	(92,440		)

Total-return, credit-default and interest-rate swaps	(7,096		)	—				(7,096		)	(483		)	(4,358		)	(2,255		)

Options and futures	(6,214		)	—				(6,214		)	—			(3,067		)	(3,147		)

Swaptions	(1,324		)	—				(1,324		)	(1,324		)	—			—

Subtotal	(149,880		)	—				(149,880		)	(33,030		)	(19,008		)	(97,842		)

Total	$	(160,192	)	$	—			$	(160,192	)	$	(38,981	)	$	(19,008	)	$	(102,203	)

DEBT_OBLIGATIONS_AND_CREDIT_FA

DEBT OBLIGATIONS AND CREDIT FACILITIES	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
DEBT OBLIGATIONS AND CREDIT FACILITIES	'
	DEBT OBLIGATIONS AND CREDIT FACILITIES
	The Company’s debt obligations are set forth below:


		As of
		September 30,			December 31,
		2014			2013
	$75,000, 5.03%, issued in June 2004, payable in seven equal annual installments starting June 14, 2008	$	—		$	10,714

	$50,000, 6.09%, issued in June 2006, payable on June 6, 2016	50,000			50,000

	$50,000, 5.82%, issued in November 2006, payable on November 8, 2016	50,000			50,000

	$250,000, 6.75%, issued in November 2009, payable on December 2, 2019	250,000			250,000

	$250,000, variable rate term loan issued in December 2012, payable 2.5% per quarter through September 2017, final $125,000 payment on December 21, 2017, prepaid in March 2014	—			218,750

	$250,000, rate as described below, term loan issued in March 2014, payable on March 31, 2019	250,000			—

	$50,000, 3.91%, issued in September 2014, payable on September 3, 2024	50,000			—

	$100,000, 4.01%, issued in September 2014, payable on September 3, 2026	100,000			—

	$100,000, 4.21%, issued in September 2014, payable on September 3, 2029	100,000			—

	Total remaining principal	$	850,000		$	579,464

	Future scheduled principal payments of debt obligations as of September 30, 2014 were as follows:


	Remainder of 2014	$	—

	2015	—

	2016	100,000

	2017	—

	2018	—

	Thereafter	750,000

	Total	$	850,000

	The Company was in compliance with all financial covenants associated with its senior notes and credit facility as of September 30, 2014 and December 31, 2013.
	The fair value of the Company’s debt obligations, which are carried at amortized cost, is a Level III valuation that is estimated based on a discounted cash-flow calculation using estimated rates that would be offered to Oaktree for debt of similar terms and maturities. The fair value of these debt obligations was $898.2 million and $611.1 million as of September 30, 2014 and December 31, 2013, respectively, utilizing an average borrowing rate of 3.3% and 3.2%, respectively. As of September 30, 2014, a 10% increase in the assumed average borrowing rate would lower the estimated fair value to $881.3 million, whereas a 10% decrease would increase the estimated fair value to $915.8 million.
	In September 2014, the Company’s subsidiaries Oaktree Capital Management, L.P. (the “Issuer”) and Oaktree Capital I, L.P., Oaktree Capital II, L.P. and Oaktree AIF Investments, L.P. (the “Guarantors” and together with the Issuer, the “Obligors”) issued and sold to certain accredited investors $50.0 million aggregate principal amount of its 3.91% Senior Notes, Series A, due September 3, 2024 (the “Series A Notes”), $100.0 million aggregate principal amount of its 4.01% Senior Notes, Series B, due September 3, 2026 (the “Series B Notes”) and $100.0 million aggregate principal amount of its 4.21% Senior Notes, Series C, due September 3, 2029 (the “Series C Notes” and together with the Series A Notes and the Series B Notes, the “Notes”) pursuant to a note and guarantee agreement (the “Note Agreement”). The Notes are senior unsecured obligations of the Issuer, guaranteed by the Guarantors on a joint and several basis. Interest on the Notes is payable semi-annually.
	The Note Agreement provides for certain affirmative and negative covenants, including financial covenants relating to the Obligors’ combined leverage ratio and minimum assets under management. In addition, the Note Agreement contains customary representations and warranties of the Obligors and customary events of default, in certain cases, subject to cure periods. The Issuer may prepay all, or from time to time any part of, the Notes at any time, subject to the Issuer’s payment of the applicable make-whole amount determined with respect to such principal amount prepaid. Upon the occurrence of a change of control, the Issuer will be required to make an offer to prepay the Notes together with the applicable make-whole amount determined with respect to such principal amount prepaid.
	In March 2014, the Company’s subsidiaries Oaktree Capital Management, L.P., Oaktree Capital II, L.P., Oaktree AIF Investments, L.P. and Oaktree Capital I, L.P. entered into a credit agreement with a bank syndicate for senior unsecured credit facilities (the “Credit Facility”), consisting of a $250 million fully-funded term loan (the “Term Loan”) and a $500 million revolving credit facility (the “Revolver”), each with a five-year term. The Credit Facility replaced the amortizing term loan, which had a principal balance of $218.8 million, and the undrawn revolver under the Company’s prior credit facility. The Term Loan matures in March 2019, at which time the entire principal amount of $250 million is due. Borrowings under the Credit Facility generally bear interest at a spread to either LIBOR or an alternative base rate. Based on the current credit ratings of Oaktree Capital Management, L.P., the interest rate on borrowings is LIBOR plus 1.00% per annum and the commitment fee on the unused portions of the Revolver is 0.125% per annum. Utilizing interest-rate swaps, the majority of the Term Loan’s annual interest rate is fixed at 2.69% through January 2016 and 2.22% for the twelve months thereafter, based on the current credit ratings of Oaktree Capital Management, L.P. The Credit Facility contains customary financial covenants and restrictions, including ones regarding a maximum leverage ratio of 3.0-to-1.0 and a minimum required level of assets under management (as defined in the credit agreement) of $50 billion. As of September 30, 2014, the Company had no outstanding borrowings under the Revolver and was able to draw the full amount available without violating any financial covenants.
	Credit Facilities of the Consolidated Funds
	Certain consolidated funds maintain revolving credit facilities to fund investments between capital drawdowns. These facilities generally (a) are collateralized by the unfunded capital commitments of the consolidated funds’ limited partners, (b) bear an annual commitment fee based on unfunded commitments, and (c) contain various affirmative and negative covenants and reporting obligations, including restrictions on additional indebtedness, liens, margin stock, affiliate transactions, dividends and distributions, release of capital commitments, and portfolio asset dispositions. Additionally, certain consolidated funds have issued senior variable rate notes to fund investments on a longer term basis, generally up to ten years. The obligations of the consolidated funds are nonrecourse to the Company. The fair value of the revolving credit facilities is a Level III valuation and approximated carrying value for all periods presented due to their short-term nature. The fair value of the credit facilities and senior variable rate notes is a Level III valuation and was $2.3 billion as of September 30, 2014 using prices obtained from pricing vendors, and approximated carrying value as of December 31, 2013 due to a resulting yield that approximated the market rate. Financial instruments that are valued using quoted prices for the subject or similar securities are generally classified as Level III because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities, or may require adjustment for investment-specific factors or restrictions. As of September 30, 2014, the consolidated funds were in compliance with all covenants.
	The consolidated funds had the following revolving credit facilities and term loans outstanding:


	Credit Agreement	Outstanding Amount as of						Facility Capacity			LIBOR		Maturity		Commitment Fee Rate		L/C Fee (2)
		September 30,			December 31,						Margin (1)
		2014			2013
	Credit facility (3)	$	434,000		$	434,000		$	435,000		1.45%		11/14/18		N/A		N/A

	Senior variable rate notes (3)	249,500			249,500			$	249,500		1.55%		10/20/22		N/A		N/A

	Senior variable rate notes (3)	499,221			498,916			$	500,000		1.20%		4/20/23		N/A		N/A

Senior variable rate notes (3)	402,410			402,375			$	402,500		1.20%		7/20/23		N/A		N/A

Senior variable rate notes (3)	64,500			64,500			$	64,500		1.65%		7/20/23		N/A		N/A

Senior variable rate notes (3)	420,000			—			$	420,000		1.47%		8/15/15		N/A		N/A

Senior variable rate notes (3)	84,316			—			$	86,000		2.10%		8/15/15		N/A		N/A

Credit facility (3)(4)	—			—			$	650,000		1.25%		4/11/17		N/A		N/A

Revolving credit facility	198,551			—			$	350,000		2.50%		8/14/15		0.25%		2.00%

Revolving credit facility	500,000			400,000			$	500,000		1.60%		6/26/15		0.25%		N/A

Revolving credit facility	85,200			67,000			$	150,000		1.75%		12/15/14		0.35%		N/A

Revolving credit facility	27,325			—			$	125,000		1.75%		5/20/15		0.35%		N/A

Revolving credit facility	35,000			—			$	55,000		2.00%		12/15/15		0.35%		2.00%

Revolving credit facility	—			—			$	40,000		1.50%		12/5/14		0.30%		1.50%

Euro-denominated revolving credit facility	676,287			13,090			€	550,000		1.65%		2/25/16		0.25%		1.65%

Euro-denominated revolving credit facility	77,135			—			€	100,000		1.95%		2/2/16		0.40%		1.95%

Revolving credit facility	—			2,800			$	10,000		2.25%		9/1/14		0.38%		N/A

Revolving credit facility	100,000			165,000			$	350,000		1.65%		3/22/15		0.25%		N/A

Revolving credit facility	120,200			—			$	150,000		1.60%		1/16/17		0.25%		1.60%

Revolving credit facility	28,850			—			$	35,000		1.50%		12/11/15		0.20%		N/A

Revolving credit facility	58,265			—			$	61,000		2.95%		3/15/19		N/A		N/A

Revolving credit facility	70,719			—			$	70,000		3.58%		6/19/15		N/A		N/A

Revolving credit facility	—			—			$	100,000		1.60%		9/8/16		0.25%		2.00%

Credit facility (5)	194,025			—			$	194,025		2.04%		Various		N/A		N/A

	$	4,325,504		$	2,297,181





-1	The facilities bear interest, at the borrower’s option, at (a) an annual rate of LIBOR plus the applicable margin or (b) an alternate base rate, as defined in the respective credit agreement.

-2	Certain facilities allow for the issuance of letters of credit at an applicable annual fee. As of September 30, 2014 and December 31, 2013, outstanding standby letters of credit totaled $42,881 and $55,954, respectively.

-3	The credit facility is collateralized by the portfolio investments and cash and cash-equivalents of the fund.

-4	The LIBOR margin is 1.25% through April 11, 2015, and 2.50% thereafter.

-5	The credit facility is collateralized by specific investments of the fund. Of the total balance outstanding, $162.1 million matures on March 11, 2015 and the remaining $31.9 million matures on February 11, 2016.

Collateralized Loan Obligation Loans Payable
As of September 30, 2014, the Company consolidated five CLOs in its condensed consolidated financial statements. The table below sets forth the outstanding loans payable of the CLOs.


	As of September 30, 2014
	Outstanding Borrowings			Fair Value (1)			Weighted Average Interest Rate		Weighted Average Remaining Maturity (years)
Senior secured notes (2)	$	456,433		$	458,856		2.25%		10.5

Senior secured notes (3)	74,676			74,676			2.59%		4.3

Senior secured notes (4)	422,785			417,317			2.58%		13

Subordinated note (5)	24,632			24,632			N/A		13

	$	978,526		$	975,481





-1	The debt obligations of the CLOs are Level III valuations and were valued using prices obtained from pricing vendors or recent transactions. Financial instruments that are valued using quoted prices for the subject or similar securities are generally classified as Level III because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities, or may require adjustment for investment-specific factors or restrictions. Financial instruments that are valued based on recent transactions are generally defined as securities purchased or sold within six months of the valuation date. The fair value may also be based on a pending transaction expected to close after the valuation date.

-2	The weighted average interest rate was LIBOR plus 2.01%.

-3	The interest rate was LIBOR plus a margin determined based on a formula as defined in the respective borrowing agreements, which incorporate different borrowing values based on the characteristics of collateral investments purchased. The weighted average unused commitment fee rate ranged from 0% to 2.0%.

-4	The weighted average interest rate was EURIBOR plus 2.21%.

-5	The subordinated note does not have a contractual interest rate; instead, it receives distributions from the excess cash flows generated by the CLO. The carrying value approximates fair value due to the recent issuance date.
The obligations with respect to the CLO loans payable are nonrecourse to the Company and are backed by the investments held by the respective CLO. Assets of one CLO may not be used to satisfy the liabilities of another. As of September 30, 2014, the fair value of the CLO assets was $1.3 billion and consisted of cash, corporate loans, corporate bonds and other securities. As of December 31, 2013, there were no assets or liabilities outstanding associated with the CLOs.
Future scheduled principal payments with respect to the CLO loans payable as of September 30, 2014 were as follows:


Remainder of 2014	$	—

2015	—

2016	—

2017	—

2018	74,676

Thereafter	903,850

Total	$	978,526

NONCONTROLLING_REDEEMABLE_INTE

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS	9 Months Ended
	Sep. 30, 2014
Non-Controlling Redeemable Interests in Consolidated Funds [Abstract]	'
NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS	'
	NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS
	The following table sets forth a summary of changes in the non-controlling redeemable interests in the consolidated funds. Dividends reinvested and in-kind contributions or distributions are non-cash in nature and have been grossed up in the table below.


		Nine Months Ended September 30,
		2014			2013
	Beginning balance	$	38,834,831		$	39,670,831

	Contributions	7,250,262			4,613,588

	Distributions	(5,971,132		)	(10,033,373		)
	Net income	1,842,779			3,743,327

	Change in distributions payable	(944		)	234,409

	Change in accrued or deferred contributions	(7,000		)	3,525

	Initial consolidation of a fund	902,979			—

	Foreign currency translation and other	(388,447		)	97,605

	Ending balance	$	42,463,328		$	38,329,912

UNITHOLDERS_CAPITAL

UNITHOLDERS' CAPITAL	9 Months Ended
	Sep. 30, 2014
Stockholders' Equity Note [Abstract]	'
UNITHOLDERS' CAPITAL	'
	UNITHOLDERS’ CAPITAL
	Unitholders’ capital reflects the economic interests attributable to Class A unitholders, non-controlling interests in consolidated subsidiaries and non-controlling interests in consolidated funds. Non-controlling interests in consolidated subsidiaries represent the portion of unitholders' capital attributable to third parties and to OCGH unitholders’ economic interest in the Oaktree Operating Group, or OCGH non-controlling interest. The OCGH non-controlling interest is determined at the Oaktree Operating Group level based on the proportionate share of Oaktree Operating Group units held by the OCGH unitholders. Certain expenses, such as income tax and related administrative expenses of Oaktree Capital Group, LLC and its Intermediate Holding Companies, are solely attributable to the Class A unitholders. As of September 30, 2014 and December 31, 2013, respectively, OCGH units represented 109,372,950 of the total 152,852,620 Oaktree Operating Group units and 112,584,211 of the total 151,056,717 Oaktree Operating Group units. Based on total allocable Oaktree Operating Group capital of $1,652,806 and $1,655,911 as of September 30, 2014 and December 31, 2013, respectively, the OCGH non-controlling interest was $1,182,522 and $1,234,169. As of September 30, 2014, non-controlling interests attributable to third parties was $76,399.

	The following table sets forth a summary of the net income attributable to the OCGH unitholders' non-controlling interest and to the Class A unitholders:


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2014			2013			2014			2013
	Weighted average Oaktree Operating Group units outstanding (in thousands):
	OCGH non-controlling interest	109,329			112,791			110,362			117,103

	Class A unitholders	43,480			38,239			42,234			33,845

	Total weighted average units outstanding	152,809			151,030			152,596			150,948

	Oaktree Operating Group net income:

	Net income attributable to OCGH non-controlling interest	$	64,683		$	129,408		$	320,054		$	617,191

	Net income attributable to Class A unitholders	25,725			43,875			119,957			172,631

	Oaktree Operating Group net income (1)	$	90,408		$	173,283		$	440,011		$	789,822

	Net income attributable to Oaktree Capital Group, LLC:

	Oaktree Operating Group net income attributable to Class A unitholders	$	25,725		$	43,875		$	119,957		$	172,631

	Non-Operating Group expenses	(264		)	(271		)	(1,149		)	(947		)
	Income tax expense of Intermediate Holding Companies	(6,548		)	(656		)	(16,915		)	(14,593		)
	Net income attributable to Oaktree Capital Group, LLC	$	18,913		$	42,948		$	101,893		$	157,091




	(1) Oaktree Operating Group net income attributable to other non-controlling interests was $2,868.
	The effects of changes in the Company’s ownership interest in the Oaktree Operating Group are set forth below:


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2014			2013			2014			2013

	Net income attributable to Oaktree Capital Group, LLC	$	18,913		$	42,948		$	101,893		$	157,091

	Equity reallocation between controlling and non-controlling interests	(391		)	(160		)	48,725			76,685

	Change from net income attributable to Oaktree Capital Group, LLC and transfers from (to) non-controlling interest	$	18,522		$	42,788		$	150,618		$	233,776


	On March 10, 2014, the Company issued and sold 5,000,000 Class A units to the underwriter in a public offering (the “March 2014 Offering”), resulting in $296.7 million in proceeds to the Company. The Company did not retain any proceeds from the sale of Class A units in the March 2014 Offering. The proceeds from the March 2014 Offering were used to acquire interests in the Company’s business from certain of the Company’s directors, employees and other investors, including certain members of the Company’s senior management.
	Please see notes 10, 11 and 12 for additional information regarding transactions that affected unitholders’ capital.

EARNINGS_PER_UNIT

EARNINGS PER UNIT	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
EARNINGS PER UNIT	'
	EARNINGS PER UNIT
	The computations of net income per Class A unit are set forth below:


		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Weighted average units outstanding:	(in thousands, except per unit amounts)
	Class A units outstanding	43,480		38,239		42,234		33,845

	OCGH units exchangeable into Class A units (1)	—		—		—		—

	Total weighted average units outstanding	43,480		38,239		42,234		33,845

	Net income per Class A unit:

	Net income	$	18,913	$	42,948	$	101,893	$	157,091

	Weighted average units outstanding	43,480		38,239		42,234		33,845

	Basic and diluted net income per Class A unit	$	0.43	$	1.12	$	2.41	$	4.64





	-1	Vested OCGH units are potentially exchangeable on a one-for-one basis into Class A units. As of September 30, 2014, there were 109,372,950 OCGH units outstanding, accordingly, the Company may cumulatively issue up to 109,372,950 additional Class A units through August 1, 2024 if all such units were exchanged. For all periods presented, OCGH units have been excluded from the calculation of diluted earnings per unit because the exchange of these units would proportionally increase Oaktree Capital Group, LLC’s interest in the Oaktree Operating Group and could have an anti-dilutive effect on earnings per unit to the extent that tax-related or other expenses were incurred by the Company as a result of the exchange.

EQUITYBASED_COMPENSATION

EQUITY-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2014
Share-based Compensation [Abstract]	'
EQUITY-BASED COMPENSATION	'
	EQUITY-BASED COMPENSATION
	During the nine months ended September 30, 2014, the Company granted 1,770,418 restricted OCGH units and 7,164 Class A units to its employees and directors, subject to annual vesting over a weighted average period of approximately 5.5 years. The grant date fair value of OCGH units awarded during the first six months of 2014 and the three months ended September 30, 2014, respectively, was determined by applying a 25% and 20% discount to the Class A unit trading price on the New York Stock Exchange. The calculation of compensation expense for all OCGH units awarded during 2014 assumed a forfeiture rate, based on expected employee turnover, of up to 1.5% annually.
	As of September 30, 2014, the Company expected to recognize compensation expense on its unvested equity-based awards of $145.2 million over a weighted average recognition period of 4.8 years.
	A summary of the status of the Company’s unvested equity-based awards as of September 30, 2014 and a summary of changes for the nine months then ended are presented below (actual dollars per unit):


		Class A Units				OCGH Units
		Number of Units		Weighted Average Grant Date Fair Value		Number of Units		Weighted Average Grant Date Fair Value
	Balance, December 31, 2013	16,582		$	45.34	4,465,722		$	30.3

	Granted	7,164		58.88		1,770,418		43.98

	Vested	(4,697	)	44.54		(1,073,170	)	24.63

	Forfeited	—		—		(55,978	)	34.42

	Balance, September 30, 2014	19,049		$	50.63	5,106,992		$	36.19

	As of September 30, 2014, unvested units were expected to vest as follows:


		Number of		Weighted
		Units		Average
				Remaining
				Service Term
				(Years)
	Class A units	19,049		3

	OCGH units	5,106,992		4.8

INCOME_TAXES_AND_RELATED_PAYME

INCOME TAXES AND RELATED PAYMENTS	9 Months Ended
INCOME TAXES AND RELATED PAYMENTS	Sep. 30, 2014
Income Tax Disclosure [Abstract]	'
INCOME TAXES AND RELATED PAYMENTS	'
	INCOME TAXES AND RELATED PAYMENTS
	Oaktree is a publicly traded partnership and Oaktree Holdings, Inc. and Oaktree AIF Holdings, Inc., two of its Intermediate Holding Companies, are wholly-owned corporate subsidiaries. Income earned by these corporate subsidiaries is subject to U.S. federal and state income taxation and taxed at prevailing rates. Income earned by non-corporate subsidiaries is not subject to U.S. federal corporate income tax and is allocated to the Oaktree Operating Group’s unitholders. The Company’s effective tax rate is dependent on many factors, including the use of estimates and the mix of revenues and expenses between the two corporate subsidiaries that are subject to income tax and the three other subsidiaries that are not. Consequently, the effective tax rate is subject to significant variation from period to period. The Company’s effective tax rate used for interim periods is based on the estimated full-year income tax rate.
	U.S. and non-U.S. taxing authorities are currently examining certain income tax returns of Oaktree, with certain of these examinations at an advanced stage. The Company recorded a net tax benefit of $2.8 million during the three months ended September 30, 2014 as a result of audit resolution activity. The Company believes that it is reasonably possible that one outcome of the remaining current examinations and expiring statutes of limitation on other items may be the release of up to approximately $2 million to $3 million of previously accrued Operating Group income taxes during the four quarters ending September 30, 2015. The Company believes that it has adequately provided for any reasonably foreseeable outcomes related to its tax examinations and that any settlements related thereto will not have a material adverse effect on the Company’s financial position or results of operations; however, there can be no assurances as to the ultimate outcomes.
	Tax Receivable Agreement
	The exchange of OCGH units in connection with the March 2014 Offering resulted in increases in the tax basis of the tangible and intangible assets of the Oaktree Operating Group. As a result, the Company recorded a deferred tax asset of $94.2 million and an associated liability of $80.0 million for payments to OCGH unitholders under the tax receivable agreement, which together increased capital by $14.1 million. These payments are expected to occur over the period ending approximately in 2036.
	No amounts were paid under the tax receivable agreement during the nine months ended September 30, 2014.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	COMMITMENTS AND CONTINGENCIES
	In the normal course of business, Oaktree enters into contracts that contain certain representations, warranties and indemnifications. The Company’s exposure under these arrangements would involve future claims that have not yet been asserted. Inasmuch as no such claims currently exist or are expected to arise, the Company has not accrued any liability in connection with these indemnifications.
	Legal Actions
	Periodically, the Company is a party to legal actions arising in the ordinary course of business. The Company is currently not subject to any pending actions that either individually or in the aggregate are expected to have a material impact on its results of operations, cash flows or financial condition.
	On June 8, 2011, Kaplan Industry, Inc. v. Oaktree Capital Management, L.P. was filed in the U.S. District Court for the Southern District of Florida. In Kaplan, the plaintiff alleged that Oaktree Capital Management, L.P. tortiously interfered with a business relationship and engaged in a civil conspiracy through the actions of Gulmar Offshore Middle East, LLC (“Gulmar”), a business acquired by subsidiaries of OCM European Principal Opportunities Fund II, L.P. (“EPOF II”). Oaktree Capital Management, L.P. serves as investment manager to EPOF II. The complaint alleged that Gulmar breached a consortium agreement between Gulmar and Kaplan Industry, Inc. relating to the consortium’s performance of services to Petróleos de Venezuela, S.A., the state-owned oil producer of Venezuela. The plaintiff alleged that Oaktree was responsible for those breaches by Gulmar. The complaint sought damages in excess of $800 million. The substance of the claim related almost exclusively to actions by Gulmar prior to EPOF II’s acquisition and the basis of the claim was subject to an ongoing arbitration in the United Kingdom between Kaplan and Gulmar. On August 18, 2011, the court granted Oaktree Capital Management, L.P.’s motion to stay pending the completion of a related arbitration proceeding in London. On July 2, 2014, the court issued an order dismissing this matter with prejudice after the plaintiff filed a notice of voluntary dismissal.
	Incentive Income
	In addition to the incentive income recognized by the Company, certain of its funds have amounts recorded as potentially allocable to the Company as its share of potential future incentive income, based on each fund’s NAV. Inasmuch as this incentive income is contingent upon future investment activity and other factors, it is not recognized by the Company until it is fixed or determinable. As of September 30, 2014 and December 31, 2013, the aggregate of such amounts recorded at the fund level in excess of incentive income recognized by the Company was $2,071,720 and $2,211,979, respectively, for which related direct incentive income compensation expense was estimated to be $996,538 and $994,879, respectively.
	Contingent Consideration
	The Company has contingent consideration obligations of up to $60 million related to the Highstar acquisition, payable in cash and fully-vested OCGH units. The amount of contingent consideration is based on the achievement of certain performance targets over seven years. As of September 30, 2014, the contingent consideration liability was $25.6 million. There were no changes in the contingent consideration liability since the acquisition date of August 1, 2014. The contingent consideration’s fair value, a Level III valuation using a discounted cash-flow analysis, was based on a probability-weighted average estimate of achieving certain performance targets, including fundraising and revenue levels. The contingent consideration liability is included in accounts payable, accrued expenses and other liabilities in the condensed consolidated statements of financial condition. Changes in the liability are recorded in other income, net in the condensed consolidated statements of operations.
	Commitments to Funds
	As of September 30, 2014 and December 31, 2013, the Company, generally in the capacity as general partner, had undrawn capital commitments of $344.9 million and $327.3 million, respectively, including commitments to both non-consolidated and consolidated funds.
	Investment Commitments of Consolidated Funds
	The consolidated funds are parties to certain credit agreements that provide for the issuance of letters of credit and revolving loans, and may require the consolidated funds to extend additional loans to investee companies. The consolidated funds use the same investment criteria in making these unrecorded commitments as they do for investments that are included in the condensed consolidated statements of financial condition. The unfunded liability associated with these credit agreements is equal to the amount by which the contractual loan commitment exceeds the sum of the amount of funded debt and cash held in escrow, if any. As of September 30, 2014 and December 31, 2013, the consolidated funds had aggregate potential credit and investment commitments of $1,292.7 million and $1,307.9 million, respectively. These commitments will be funded by the funds’ cash balances, proceeds from asset sales or drawdowns against existing capital commitments.
	A consolidated fund may agree to guarantee the repayment obligations of certain investee companies. On December 20, 2012, certain consolidated funds (“Funds”) entered into a £200 million revolving credit facility (the “RCF”) pursuant to which certain portfolio companies of the Funds were able to draw under the RCF over a three-year period. The RCF had an annual commitment fee on unused commitments of 1.0% and an annual interest rate equal to Libor or Euribor, as applicable, plus 2.0%. The Funds guaranteed the payment and other obligations of the borrowers under the RCF. As of December 31, 2013, there were $317.0 million of borrowings outstanding under the RCF. On February 25, 2014, the Funds repaid the outstanding balance under the RCF and replaced the RCF, along with an existing €130 million revolving credit facility, with a €550 million revolving credit facility (please see note 7).
	The aggregate amounts guaranteed in addition to those described for the RCF were not material to the condensed consolidated financial statements as of September 30, 2014 and December 31, 2013.
	The majority of the Company’s consolidated funds are investment companies that are required to disclose financial support provided or contractually required to be provided to any of their portfolio companies. Certain consolidated funds within the Distressed Debt, Control Investing and Real Estate strategies provide financial support to portfolio companies in accordance with the investment objectives of the consolidated funds. Distressed Debt funds typically invest primarily in the securities of entities that are undergoing, are considered likely to undergo, or have undergone reorganizations under applicable bankruptcy law, or other extraordinary transactions such as debt restructurings, reorganizations and liquidations outside of bankruptcy. Control Investing funds typically seek to obtain control or significant influence primarily in middle-market companies through the purchase of debt at a discount (also known as “distress-for-control”), structured or hybrid investments (such as convertible debt or debt with warrants), or direct equity investments that typically involve situations with an element of distress or dislocation. Real Estate funds generally focus on distressed or similar opportunities primarily in real estate, real estate debt and restructurings, which typically involve value investments, rescue capital and distress-for-control investments. This financial support may be provided pursuant to contractual agreements, typically in the form of follow-on investments, guarantees or financing commitments. Most of the financial support is provided as an inherent part of the ongoing investment operations of the consolidated funds within these strategies and is considered to be provided at the discretion of the Company in its capacity as general partner and investment manager. For the nine months ended September 30, 2014, the consolidated funds provided financial support to portfolio companies totaling $757.1 million and $6.4 billion with respect to support pursuant to contractual agreements and at the discretion of the consolidated funds, respectively. The majority of this financial support consisted of the funds’ purchases of investment securities and companies.

RELATEDPARTY_TRANSACTIONS

RELATED-PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
RELATED-PARTY TRANSACTIONS	'
	RELATED-PARTY TRANSACTIONS
	The Company considers its senior executives, employees and non-consolidated Oaktree funds to be affiliates (as defined in the FASB ASC Master Glossary). Amounts due from and to affiliates are set forth below. The fair value of amounts due from and to affiliates is a Level III valuation and was valued based on a discounted cash-flow analysis. The carrying value of amounts due from affiliates approximated fair value because their average interest rate, which ranged from 2.0% to 3.0%, approximated the Company’s cost of debt. The fair value of amounts due to affiliates approximated $168,386 and $123,497 as of September 30, 2014 and December 31, 2013, respectively, based on a discount rate of 10.0%.


		As of
		September 30,		December 31,
		2014		2013
	Due from affiliates:
	Loans	$	40,872	$	41,095

	Amounts due from non-consolidated funds	1,655		1,220

	Payments made on behalf of non-consolidated entities	3,559		3,272

	Non-interest bearing advances made to certain non-controlling interest holders and employees	1,686		2,187

	Total due from affiliates	$	47,772	$	47,774

	Due to affiliates:

	Due to OCGH unitholders in connection with the tax receivable agreement (please see note 12)	$	320,940	$	240,911

	Amounts due to senior executives, certain non-controlling interest holders and employees	490		2,075

	Total due to affiliates	$	321,430	$	242,986

	Loans
	Loans primarily consist of interest-bearing advances made to certain non-controlling interest holders, primarily the Company’s employees, to meet tax obligations related to vesting of equity awards. The notes, which are generally recourse to the borrower or secured by vested equity and other collateral, bear interest at the Company’s cost of capital and generated interest income of $1,163 and $1,283 for the nine months ended September 30, 2014 and 2013, respectively.
	Due From Oaktree Funds and Portfolio Companies
	In the normal course of business, the Company pays certain expenses on behalf of the Oaktree funds, for which it is reimbursed. Amounts advanced on behalf of consolidated funds are eliminated in consolidation. Certain expenses initially paid by the Company, primarily employee travel and other costs associated with particular portfolio company holdings, are reimbursed by the portfolio companies.
	Other Investment Transactions
	The Company’s senior executives, directors and senior professionals are permitted to invest their own capital (or the capital of family trusts or other estate planning vehicles they control) in Oaktree funds, for which they pay the particular fund’s full management fee but not its incentive allocation. To facilitate the funding of capital calls by funds in which employees are invested, the Company periodically advances on a short-term basis the capital calls on certain employees’ behalf. These advances are generally reimbursed toward the end of the calendar quarter in which the capital calls occurred. Amounts temporarily advanced by the Company are included in non-interest bearing advances made to certain non-controlling interest holders and employees.
	Aircraft Services
	A subsidiary of the Company leases an airplane for business purposes. Howard Marks, the Company’s co-chairman, may use this aircraft for personal travel and, pursuant to a policy adopted by such subsidiary relating to such personal use, the Company is reimbursed by Mr. Marks for the costs of using the aircraft for personal travel. Additionally, the Company occasionally makes use of an airplane owned by one of its senior executives for business purposes at a price to the Company that is based on market rates.
	Special Allocations
	Certain senior executives receive special allocations based on a percentage of profits of the Oaktree Operating Group. These special allocations, which are recorded as compensation expense, are made on a current basis only for so long as they remain senior executives of the Company.
	Transactions with Meyer Memorial Trust
	One of the Company’s directors, Mr. Pierson, was the Chief Financial and Investment Officer of Meyer Memorial Trust. Meyer Memorial Trust invests in certain Oaktree funds on the same terms as the other investors in those funds. Mr. Pierson retired as the Chief Financial and Investment Officer of Meyer Memorial Trust effective June 30, 2014.

SEGMENT_REPORTING

SEGMENT REPORTING	9 Months Ended
SEGMENT REPORTING	Sep. 30, 2014
Segment Reporting [Abstract]	'
SEGMENT REPORTING	'
	SEGMENT REPORTING
	The Company’s business is comprised of one segment, the investment management segment. As a global investment manager, the Company provides investment management services through funds and separate accounts. Management makes operating decisions and assesses business performance based on financial and operating metrics and data that are presented without the consolidation of any funds.
	The Company conducts its investment management business primarily in the United States, where substantially all of its revenues are generated.
	Adjusted Net Income
	The Company’s chief operating decision maker uses adjusted net income (“ANI”) as a tool to help evaluate the financial performance of, and make resource allocations and other operating decisions for, the investment management segment. The components of revenues and expenses used in the determination of ANI do not give effect to the consolidation of the funds that the Company manages. Segment revenues include investment income (loss) that is classified in other income (loss) in the GAAP-basis statements of operations. Segment revenues and expenses also reflect Oaktree's proportionate economic interest in Highstar, whereby amounts received for contractually reimbursable costs are included with segment expenses, as compared to being recorded as other income under GAAP. In addition, ANI excludes the effect of (a) non-cash equity-based compensation charges related to unit grants made before the Company’s initial public offering, (b) acquisition-related items including amortization of intangible assets and changes in contingent consideration, (c) income taxes, (d) expenses that Oaktree Capital Group, LLC or its Intermediate Holding Companies bear directly and (e) the adjustment for non-controlling interests in consolidated subsidiaries. Incentive income and incentive income compensation expense are included in ANI when the underlying fund distributions are known or knowable as of the respective quarter end, which may be later than the time at which the same revenue or expense is included in the GAAP-basis statements of operations, for which the revenue standard is fixed or determinable and the expense standard is probable and reasonably estimable. ANI is calculated at the Operating Group level.
	ANI was as follows:


		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2014				2013				2014				2013
	Revenues:
	Revenues:
	Management fees	$	194,509			$	185,580			$	572,028			$	552,281
	Management fees	$	194,509			$	185,580			$	572,028			$	552,281
	Incentive income	86,324				122,424				438,398				787,665
	Incentive income	86,324				122,424				438,398				787,665
	Investment income (loss)	(2,361		)		53,558				98,318				170,184
	Investment income (loss)	(2,361		)		53,558				98,318				170,184
	Total revenues	278,472				361,562				1,108,744				1,510,130
	Total revenues	278,472				361,562				1,108,744				1,510,130
	Expenses:
	Expenses:
	Compensation and benefits	(99,402		)		(95,561		)		(290,234		)		(279,344		)
	Equity-based compensation	(5,185		)		(1,070		)		(14,279		)		(2,646		)
	Incentive income compensation	(39,814		)		(49,222		)		(207,789		)		(308,446		)
	General and administrative	(29,687		)		(27,389		)		(91,380		)		(80,889		)
	Depreciation and amortization	(1,914		)		(1,791		)		(5,650		)		(5,266		)
	Total expenses	(176,002		)		(175,033		)		(609,332		)		(676,591		)
	Adjusted net income before interest and other income (expense)	102,470				186,529				499,412				833,539
		102,470				186,529				499,412				833,539
	Interest expense, net of interest income (1)	(7,419		)		(7,074		)		(20,978		)		(21,617		)
	Other income (expense), net	10				148				(1,679		)		412
	Other income (expense), net	10				148				(1,679		)		412
	Adjusted net income	$	95,061			$	179,603			$	476,755			$	812,334
	Adjusted net income	$	95,061			$	179,603			$	476,755			$	812,334




	-1	Interest income was $0.9 million for both the three months ended September 30, 2014 and 2013, respectively, and $2.7 million and $2.4 million for the nine months ended September 30, 2014 and 2013, respectively.
	A reconciliation of net income attributable to Oaktree Capital Group, LLC to adjusted net income of the investment management segment is presented below.


		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2014				2013				2014				2013
	Net income attributable to Oaktree Capital Group, LLC	$	18,913			$	42,948			$	101,893			$	157,091
	Net income attributable to Oaktree Capital Group, LLC	$	18,913			$	42,948			$	101,893			$	157,091
	Incentive income (1)	(3,234		)		—				55,124				—
	Incentive income (1)	(3,234		)		—				55,124				—
	Incentive income compensation (1)	3,234				—				(36,988		)		—
	Incentive income compensation (1)	3,234				—				(36,988		)		—
	Equity-based compensation (2)	5,372				6,250				15,947				18,231
	Equity-based compensation (2)	5,372				6,250				15,947				18,231
	Amortization of intangibles (3)	488				—				488				—
	Amortization of intangibles (3)	488				—				488				—
	Income taxes (4)	5,341				726				19,088				18,874
	Income taxes (4)	5,341				726				19,088				18,874
	Non-Operating Group expenses (5)	264				271				1,149				947
	Non-Operating Group expenses (5)	264				271				1,149				947
	OCGH non-controlling interest (5)	64,683				129,408				320,054				617,191
	OCGH non-controlling interest (5)	64,683				129,408				320,054				617,191
Adjusted net income	$	95,061			$	179,603			$	476,755			$	812,334
Adjusted net income	$	95,061			$	179,603			$	476,755			$	812,334




-1	This adjustment adds back the effect of timing differences associated with the recognition of incentive income and incentive income compensation expense between adjusted net income and net income attributable to OCG. There were no adjustments attributable to timing differences for the three and nine months ended September 30, 2013.

-2	This adjustment adds back the effect of equity-based compensation charges related to unit grants made before the Company’s initial public offering, which is excluded from adjusted net income because it is a non-cash charge that does not affect the Company’s financial position.

-3	This adjustment adds back acquisition-related amortization of intangibles.

-4	Because adjusted net income is a pre-tax measure, this adjustment eliminates the effect of income tax expense from adjusted net income.

-5	Because adjusted net income is calculated at the Operating Group level, this adjustment adds back the effect of items applicable to OCG, its Intermediate Holding Companies or the OCGH non-controlling interest.
The following tables reconcile the Company’s segment information to the condensed consolidated financial statements:


	As of or for the Three Months Ended September 30, 2014
	Segment				Adjustments				Consolidated
Management fees (1)	$	194,509			$	(140,266	)		$	54,243
Management fees (1)	$	194,509			$	(140,266	)		$	54,243
Incentive income (1)	86,324				(86,324		)		—
Incentive income (1)	86,324				(86,324		)		—
Investment income (loss) (1)	(2,361		)		8,129				5,768
Investment income (loss) (1)	(2,361		)		8,129				5,768
Total expenses (2)	(176,002		)		(76,399		)		(252,401		)
Interest expense, net (3)	(7,419		)		(27,145		)		(34,564		)
Other income, net (4)	10				2,685				2,695
Other income, net (4)	10				2,685				2,695
Other income (loss) of consolidated funds (5)	—				(349,360		)		(349,360		)
Other income (loss) of consolidated funds (5)	—				(349,360		)		(349,360		)
Income taxes	—				(5,341		)		(5,341		)
Income taxes	—				(5,341		)		(5,341		)
Net loss attributable to non-controlling interests in consolidated funds	—				665,424				665,424
	—				665,424				665,424
Net income attributable to non-controlling interests in consolidated subsidiaries	—				(67,551		)		(67,551		)
	—				(67,551		)		(67,551		)
Adjusted net income/net income attributable to Oaktree Capital Group, LLC	$	95,061			$	(76,148	)		$	18,913
	$	95,061			$	(76,148	)		$	18,913
Corporate investments (6)	$	1,465,211			$	(1,324,475	)		$	140,736
Corporate investments (6)	$	1,465,211			$	(1,324,475	)		$	140,736
Total assets (7)	$	3,245,514			$	49,401,937			$	52,647,451
Total assets (7)	$	3,245,514			$	49,401,937			$	52,647,451




-1	The adjustment represents the elimination of amounts earned from the consolidated funds.

-2	The expense adjustment consists of (a) equity-based compensation charges of $5,372 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $64,356, (c) expenses incurred by the Intermediate Holding Companies of $264, (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $3,234, (e) acquisition-related amortization of intangibles of $488 and (f) adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP of $2,685.

-3	The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income.

-4	The adjustment to other income, net represents adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP.

-5	The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to non-controlling interests of the consolidated funds.

-6	The adjustment to corporate investments is to remove from segment assets the Company’s investments in the consolidated funds, including investments in its CLOs, that are treated as equity- or cost-method investments for segment reporting. Of the $1.5 billion, equity-method investments accounted for $1.3 billion.

-7	The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable.


	As of or for the Three Months Ended September 30, 2013
	Segment				Adjustments				Consolidated
Management fees (1)	$	185,580			$	(128,794	)		$	56,786
Management fees (1)	$	185,580			$	(128,794	)		$	56,786
Incentive income (1)	122,424				(122,424		)		—
Incentive income (1)	122,424				(122,424		)		—
Investment income (1)	53,558				(42,090		)		11,468
Investment income (1)	53,558				(42,090		)		11,468
Total expenses (2)	(175,033		)		(39,125		)		(214,158		)
Interest expense, net (3)	(7,074		)		(10,263		)		(17,337		)
Other income, net	148				—				148
Other income, net	148				—				148
Other income of consolidated funds (4)	—				1,253,050				1,253,050
Other income of consolidated funds (4)	—				1,253,050				1,253,050
Income taxes	—				(726		)		(726		)
Income taxes	—				(726		)		(726		)
Net income attributable to non-controlling interests in consolidated funds	—				(916,875		)		(916,875		)
	—				(916,875		)		(916,875		)
Net income attributable to non-controlling interests in consolidated subsidiaries	—				(129,408		)		(129,408		)
	—				(129,408		)		(129,408		)
Adjusted net income/net income attributable to Oaktree Capital Group, LLC	$	179,603			$	(136,655	)		$	42,948
	$	179,603			$	(136,655	)		$	42,948
Corporate investments (5)	$	1,100,500			$	(1,009,820	)		$	90,680
Corporate investments (5)	$	1,100,500			$	(1,009,820	)		$	90,680
Total assets (6)	$	2,649,360			$	42,051,821			$	44,701,181
Total assets (6)	$	2,649,360			$	42,051,821			$	44,701,181




-1	The adjustment represents the elimination of amounts earned from the consolidated funds.

-2	The expense adjustment consists of (a) equity-based compensation charges of $6,250 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $32,604 and (c) expenses incurred by the Intermediate Holding Companies of $271.

-3	The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income.

-4	The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to non-controlling interests of the consolidated funds.

-5	The adjustment to corporate investments is to remove from segment assets the Company’s investments in the consolidated funds that are treated as equity-method investments for segment reporting.

-6	The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable.






	As of or for the Nine Months Ended September 30, 2014
	Segment				Adjustments				Consolidated
Management fees (1)	$	572,028			$	(425,794	)		$	146,234
Management fees (1)	$	572,028			$	(425,794	)		$	146,234
Incentive income (1)	438,398				(438,398		)		—
Incentive income (1)	438,398				(438,398		)		—
Investment income (1)	98,318				(83,169		)		15,149
Investment income (1)	98,318				(83,169		)		15,149
Total expenses (2)	(609,332		)		(116,773		)		(726,105		)
Interest expense, net (3)	(20,978		)		(63,285		)		(84,263		)
Other income (expense), net (4)	(1,679		)		2,685				1,006
Other income (expense), net (4)	(1,679		)		2,685				1,006
Other income of consolidated funds (5)	—				2,935,534				2,935,534
Other income of consolidated funds (5)	—				2,935,534				2,935,534
Income taxes	—				(19,088		)		(19,088		)
Income taxes	—				(19,088		)		(19,088		)
Net income attributable to non-controlling interests in consolidated funds	—				(1,843,652		)		(1,843,652		)
	—				(1,843,652		)		(1,843,652		)
Net income attributable to non-controlling interests in consolidated subsidiaries	—				(322,922		)		(322,922		)
	—				(322,922		)		(322,922		)
Adjusted net income/net income attributable to Oaktree Capital Group, LLC	$	476,755			$	(374,862	)		$	101,893
	$	476,755			$	(374,862	)		$	101,893
Corporate investments (6)	$	1,465,211			$	(1,324,475	)		$	140,736
Corporate investments (6)	$	1,465,211			$	(1,324,475	)		$	140,736
Total assets (7)	$	3,245,514			$	49,401,937			$	52,647,451
Total assets (7)	$	3,245,514			$	49,401,937			$	52,647,451




-1	The adjustment represents the elimination of amounts earned from the consolidated funds.

-2	The expense adjustment consists of (a) equity-based compensation charges of $15,947 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $133,492, (c) expenses incurred by the Intermediate Holding Companies of $1,149, (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $36,988, (e) acquisition-related amortization of intangibles of $488 and (f) adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP of $2,685.

-3	The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income.

-4	The adjustment to other income (expense), net represents adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP.

-5	The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to non-controlling interests of the consolidated funds.

-6	The adjustment to corporate investments is to remove from segment assets the Company’s investments in the consolidated funds, including investments in its CLOs, that are treated as equity- or cost-method investments for segment reporting. Of the $1.5 billion, equity-method investments accounted for $1.3 billion.

-7	The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable.


	As of or for the Nine Months Ended September 30, 2013
	Segment				Adjustments				Consolidated
Management fees (1)	$	552,281			$	(402,859	)		$	149,422
Management fees (1)	$	552,281			$	(402,859	)		$	149,422
Incentive income (1)	787,665				(785,348		)		2,317
Incentive income (1)	787,665				(785,348		)		2,317
Investment income (1)	170,184				(147,584		)		22,600
Investment income (1)	170,184				(147,584		)		22,600
Total expenses (2)	(676,591		)		(98,612		)		(775,203		)
Interest expense, net (3)	(21,617		)		(21,314		)		(42,931		)
Other income, net	412				—				412
Other income, net	412				—				412
Other income of consolidated funds (4)	—				5,179,866				5,179,866
Other income of consolidated funds (4)	—				5,179,866				5,179,866
Income taxes	—				(18,874		)		(18,874		)
Income taxes	—				(18,874		)		(18,874		)
Net income attributable to non-controlling interests in consolidated funds	—				(3,743,327		)		(3,743,327		)
	—				(3,743,327		)		(3,743,327		)
Net income attributable to non-controlling interests in consolidated subsidiaries	—				(617,191		)		(617,191		)
	—				(617,191		)		(617,191		)
Adjusted net income/net income attributable to Oaktree Capital Group, LLC	$	812,334			$	(655,243	)		$	157,091
	$	812,334			$	(655,243	)		$	157,091
Corporate investments (5)	$	1,100,500			$	(1,009,820	)		$	90,680
Corporate investments (5)	$	1,100,500			$	(1,009,820	)		$	90,680
Total assets (6)	$	2,649,360			$	42,051,821			$	44,701,181
Total assets (6)	$	2,649,360			$	42,051,821			$	44,701,181




-1	The adjustment represents the elimination of amounts earned from the consolidated funds.

-2	The expense adjustment consists of (a) equity-based compensation charges of $18,231 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $79,434 and (c) expenses incurred by the Intermediate Holding Companies of $947.

-3	The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income.

-4	The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to non-controlling interests of the consolidated funds.

-5	The adjustment to corporate investments is to remove from segment assets the Company’s investments in the consolidated funds that are treated as equity-method investments for segment reporting.

-6	The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2014
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	SUBSEQUENT EVENTS
	Appointment of Chief Executive Officer
	On October 3, 2014, the board of directors of the Company (the “Board”) appointed Jay S. Wintrob, who has been a member of the Board since 2011, chief executive officer of the Company effective the date of commencement of his employment on November 1, 2014. As of his employment commencement date, Mr. Wintrob became the Company’s principal executive officer; John B. Frank, a member of the Board who had served as managing principal since 2006, became vice chairman and ceased to be principal executive officer; Howard S. Marks became a co-chairman; and Bruce A. Karsh became a co-chairman and ceased to serve as president.
	On October 6, 2014, the Company entered into an employment agreement with Mr. Wintrob, pursuant to which Mr. Wintrob will serve as Chief Executive Officer of the Company, reporting to the Board. The agreement also provides that, during the term of the employment agreement, Mr. Wintrob will be nominated to serve on the Board. The employment agreement’s term began November 1, 2014 and ends December 31, 2019, unless terminated earlier as permitted under the agreement (the “Term”).
	Pursuant to the employment agreement, Mr. Wintrob is entitled to profit-sharing payments equal to a fixed percentage of certain of Oaktree’s operating profit and income, as defined. Additionally, Mr. Wintrob will receive an equity award of 2,000,000 special limited partnership units in OCGH (each, an “equity value unit,” or “EVU”) under the Company’s 2011 Equity Incentive Plan. The EVUs will give Mr. Wintrob the right to receive a one-time special distribution soon after the Term ends, based on value created during the Term in excess of a fixed “Base Value.” The value created will be measured on a per unit basis, based on Class A unit trading prices and certain components of quarterly distributions with respect to the period during the Term. The Base Value has been set at $61.00. The EVUs will also give Mr. Wintrob the right, subject to service vesting and Oaktree performance relative to the accreting Base Value, to receive quarterly distributions from OCGH during the period 2016–2019.
	Distribution
	On October 30, 2014, the Company declared a distribution of $0.62 per Class A unit. This distribution, which is related to the third quarter of 2014, will be paid on November 13, 2014 to Class A unitholders of record as of the close of business on November 10, 2014.
	Lease Agreement
	On November 7, 2014, the Company entered into an agreement to extend its Los Angeles office space lease, previously due to expire in 2017, through January 2030. Future minimum lease payments under the agreement are approximately $1.2 million for the last three months of 2014, $4.7 million in 2015, $4.6 million in 2016, $1.7 million in 2017, $5.1 million in 2018 and $68.5 million thereafter. Under GAAP, future minimum operating lease payments are recognized in the condensed consolidated statements of operations on a straight-line basis over the lease term.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Consolidation	'
	Consolidation
	The Company consolidates those entities where it has a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. As of September 30, 2014, this included six VIEs for which the Company was considered the primary beneficiary, and substantially all of Oaktree’s closed-end, commingled open-end and evergreen funds for which the Company acts as the sole general partner and is deemed to control through a voting interest model.
Variable Interest Model	'
	Variable Interest Model. The Company consolidates VIEs for which it is considered the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity’s business and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The consolidation model for VIEs, which was revised effective January 1, 2010, requires an analysis to determine (a) whether an entity in which the Company holds a variable interest is a VIE and (b) whether the Company’s involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance-related fees), would give it a controlling financial interest. The consolidation model for VIEs may be deferred if the VIE and the reporting entity’s interest in the VIE meet the deferral conditions set forth in Accounting Standards Codification (“ASC”) 810-10-65-2(aa). If a VIE has met the deferral conditions, the analysis is based on the consolidation model for VIEs prior to January 1, 2010, which requires an analysis to determine (a) whether an entity in which the Company holds a variable interest is a VIE and (b) whether the Company’s involvement through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance-related fees) would be expected to absorb a majority of the variability of the entity. Under either model, the Company determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion at each reporting date. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly by the Company or indirectly through related parties. The consolidation analysis can generally be performed qualitatively; however, if it is not readily apparent that the Company is not the primary beneficiary, a quantitative analysis may also be performed. Investments and redemptions (either by the Company, affiliates of the Company or third parties) or amendments to the governing documents of the respective Oaktree funds could affect an entity’s status as a VIE or the determination of the primary beneficiary.
	While the Company holds variable interests in the Oaktree funds, most of those funds do not meet the characteristics of a VIE. As of September 30, 2014, the Company consolidated six VIEs for which it was the primary beneficiary, including Oaktree AIF Holdings, Inc. (“AIF”), which was formed to hold certain assets for regulatory and other purposes and is immaterial to the Company. The five remaining VIEs represented CLOs for which the Company acts as collateral manager. Three of the CLOs had not priced as of September 30, 2014. As of September 30, 2014 and December 31, 2013, there were no VIEs for which the Company was not the primary beneficiary. As of December 31, 2013, the Company consolidated two VIEs.
	As of September 30, 2014, the Company consolidated five CLOs with total assets and liabilities of $1.3 billion and $1.1 billion, respectively. The assets and liabilities of the CLOs primarily consist of investments in debt securities and loans, respectively, issued by the CLOs. The loans issued by each CLO are collateralized by the investments held by the CLO, and assets of one CLO may not be used to satisfy liabilities of another. In exchange for managing the collateral of the CLOs, the Company typically earns management fees and may earn performance fees, all of which are eliminated in consolidation. As of September 30, 2014, the Company had invested an aggregate $126.1 million in its CLOs, which represented its maximum risk of loss. The Company’s investments are generally subordinated to other interests in the CLOs and entitle the Company to receive a pro-rata portion of the residual cash flows, if any, from the CLOs. Investors in the CLOs have no recourse against the Company for any losses they sustain.
	Voting Interest Model. For entities that are not VIEs, the Company evaluates those entities that it controls through a majority voting interest, including those Oaktree funds in which the Company as the sole general partner is presumed to have control (together with the CLOs, the “consolidated funds”). Although as general partner the Company typically has only a small, single-digit percentage equity interest in each fund, the funds’ third-party limited partners do not have the right to dissolve the partnerships or have substantive kick-out or participating rights that would overcome the presumption of control by the Company.
	Accordingly, Oaktree’s condensed consolidated financial statements reflect the assets, liabilities, revenues, expenses and cash flows of the consolidated funds on a gross basis, and the majority of the economic interests in those funds, which are held by third-party investors, are attributed to non-controlling redeemable interests in consolidated funds in the accompanying condensed consolidated financial statements. All of the revenues earned by Oaktree from those funds are eliminated in consolidation. However, because the eliminated amounts are earned from and funded by non-controlling interests, Oaktree’s attributable share of the net income from those funds is increased by the amounts eliminated. Thus, the elimination of those amounts in consolidation has no effect on net income or loss attributable to the Company. All intercompany transactions and balances have been eliminated in consolidation.
	Certain funds for which the Company shares general partner responsibilities or where the Company has no general partner responsibility but has the ability to exert significant influence through other means are accounted for under the equity method of accounting.
Non-controlling Interests in Consolidated Funds and Subsidiaries	'
	Non-controlling Redeemable Interests in Consolidated Funds
	The Company records non-controlling interests to reflect the economic interests of the unaffiliated limited partners. These interests are presented as non-controlling redeemable interests in consolidated funds within the condensed consolidated statements of financial condition, outside of the permanent capital section. Limited partners in open-end and evergreen funds generally have the right to withdraw their capital, subject to the terms of the respective limited partnership agreements, over periods ranging from one month to three years. While limited partners in consolidated closed-end funds generally have not been granted redemption rights, these limited partners do have withdrawal or redemption rights in certain limited circumstances that are beyond the control of the Company, such as instances in which retaining the limited partnership interest could cause the limited partner to violate a law, regulation or rule.
	The allocation of net income or loss to non-controlling redeemable interests in consolidated funds is based on the relative ownership interests of the unaffiliated limited partners after the consideration of contractual arrangements that govern allocations of income or loss. At the consolidated level, potential incentives are allocated to non-controlling redeemable interests in consolidated funds until such incentives become allocable to the Company under the substantive contractual terms of the limited partnership agreements of the funds.
	Non-controlling Interests in Consolidated Funds
	Non-controlling interests in consolidated funds represent the equity interests held by third-party investors in CLOs that had not yet priced as of the respective period end. All non-controlling interests in those CLOs are attributed a share of income or loss arising from the respective CLO based on the relative ownership interests of third-party investors after consideration of contractual arrangements that govern allocations of income or loss. Investors in those CLOs are generally unable to redeem their interests until the CLO liquidates or otherwise terminates.
	Non-controlling Interests in Consolidated Subsidiaries
	Non-controlling interests in consolidated subsidiaries reflect the portion of unitholders' capital attributable to OCGH unitholders (“OCGH non-controlling interest”), certain related parties and other third parties. All non-controlling interests in consolidated subsidiaries are attributed a share of income or loss in the respective consolidated subsidiary based on the relative economic interests of the OCGH unitholders or third parties after consideration of contractual arrangements that govern allocations of income or loss. Please see note 9 for more information.
Business Combinations	'
	Business Combinations
	The Company accounts for business combinations using the acquisition method of accounting, which requires the use of estimates and judgment to measure the fair value of the identifiable tangible and intangible assets acquired, liabilities assumed, and non-controlling interests in the acquiree as of the acquisition date. Contingent consideration that is determined to be part of the business combination is recognized at fair value as of the acquisition date and is included in the purchase price. Transaction costs are expensed as incurred.
Goodwill and Intangible Assets	'
	Goodwill and Intangible Assets
	Goodwill represents the excess of cost over the fair value of identifiable net assets of acquired businesses. Goodwill has an indefinite useful life and is not amortized, but instead tested for impairment annually in the fourth quarter of each fiscal year or more frequently when events and circumstances indicate that impairment may have occurred.
	The Company's intangible assets acquired in business combinations are primarily contractual rights to earn future management fees and incentive income. Finite-lived intangible assets are amortized over their estimated useful lives, which range from three to seven years, and are reviewed for impairment whenever events or circumstances indicate that the carrying amount of the asset may not be recoverable.
Fair Value of Financial Instruments	'
	Fair Value of Financial Instruments
	GAAP establishes a hierarchal disclosure framework that prioritizes the inputs used in measuring financial instruments at fair value into three levels based on their market observability. Market price observability is affected by a number of factors, such as the type of instrument and the characteristics specific to the instrument. Financial instruments with readily available quoted prices from an active market or for which fair value can be measured based on actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment inherent in measuring fair value.
	Financial assets and liabilities measured and reported at fair value are classified as follows:

	•	Level I – Quoted unadjusted prices for identical instruments in active markets to which the Company has access at the date of measurement. The types of investments in Level I include exchange-traded equities, debt and derivatives with quoted prices.

	•	Level II – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are directly or indirectly observable. Level II inputs include interest rates, yield curves, volatilities, prepayment risks, loss severities, credit risks and default rates. The types of investments in Level II generally include corporate bonds and loans, government and agency securities, less liquid and restricted equity investments, over-the-counter traded derivatives, and other investments where the fair value is based on observable inputs.

	•	Level III – Valuations for which one or more significant inputs are unobservable. These inputs reflect the Company’s assessment of the assumptions that market participants use to value the investment based on the best available information. Level III inputs include prices of quoted securities in markets for which there are few transactions, less public information exists or prices vary among brokered market makers. The types of investments in Level III include non-publicly traded equity, debt, real estate and derivatives.
	In some instances, an instrument may fall into multiple levels of the fair-value hierarchy. In such instances, the instrument’s level within the fair-value hierarchy is based on the lowest of the three levels (with Level III being the lowest) that is significant to the fair-value measurement. The Company’s assessment of the significance of an input requires judgment and considers factors specific to the instrument. The Company accounts for the transfer of assets into or out of each fair-value hierarchy level as of the beginning of the reporting period.
	In the absence of observable market prices, the Company values Level III investments using valuation methodologies applied on a consistent basis. The quarterly valuation process for Level III investments begins with each portfolio company, property or security being valued by the investment or valuation teams. The valuations are then reviewed and approved by the valuation team and the valuation committee of each investment strategy, which consists of senior members of the investment team. All Level III investment values are ultimately approved by the valuation committees and designated investment professionals, as well as the valuation officer, who is independent of the investment teams. For certain investments, the valuation process also includes a review by independent valuation parties, at least annually, to determine whether the fair values determined by management are reasonable. Results of the valuation process are evaluated each quarter, including an assessment of whether the underlying calculations should be adjusted or recalibrated. In connection with this process, the Company evaluates changes in fair-value measurements from period to period for reasonableness, considering items such as industry trends, general economic and market conditions, and factors specific to the investment.
	Certain Level III assets are valued using prices obtained from brokers or pricing vendors. The Company obtains an average of one to two broker quotes. The Company seeks to obtain at least one quote directly from a broker making a market for the asset and one price from a pricing vendor for the subject or similar securities. These investments are classified as Level III because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities, or may require adjustment for investment-specific factors or restrictions. Generally, the Company does not adjust any of the prices received from these sources, and all prices are reviewed by the Company. The Company evaluates the prices obtained from brokers or pricing vendors based on available market information, including trading activity of the subject or similar securities, or by performing a comparable security analysis to ensure that fair values are reasonably estimated. The Company also performs back-testing of valuation information obtained from brokers and pricing vendors against actual prices received in transactions. In addition to on-going monitoring and back-testing, the Company performs due diligence procedures over pricing vendors to understand their methodology and controls to support their use in the valuation process.
	Fair Value Option
	The Company has elected the fair value option for certain corporate investments that otherwise would not have reflected unrealized gains and losses in current-period earnings. Such election is irrevocable and is applied on an investment-by-investment basis at initial recognition. Unrealized gains and losses resulting from changes in fair value are reflected as a component of investment income in the condensed consolidated statements of operations. The Company's accounting for those investments is similar to its accounting for investments held by the consolidated funds at fair value and the valuation methods used to determine the fair value of those investments.
	In addition, the Company has elected the fair value option for the assets of its CLOs. Assets of the CLOs are included in investments, at fair value and liabilities of the CLOs are reflected in collateralized loan obligation loans payable in the condensed consolidated statements of financial condition. The Company's accounting for CLOs is similar to its accounting for closed-end funds with respect to both carrying investments held by CLOs at fair value and the valuation methods used to determine the fair value of those investments. Realized gains or losses and changes in the fair value of consolidated CLO assets are included in net realized gain on consolidated funds’ investments and net change in unrealized appreciation (depreciation) on consolidated funds’ investments, respectively, in the condensed consolidated statements of operations. Interest income of CLOs is included in interest and dividend income, while their interest expense and other expenses are included in interest expense and consolidated fund expenses, respectively, in the condensed consolidated statements of operations.
Investments, at Fair Value	'
	Investments, at Fair Value
	The consolidated funds are primarily investment limited partnerships that reflect their investments, including majority-owned and controlled investments, at fair value. The Company has retained the specialized investment company accounting guidance under GAAP for those consolidated funds with respect to consolidated investments. Thus, the consolidated investments are reflected in the condensed consolidated statements of financial condition at fair value, with unrealized gains and losses resulting from changes in fair value reflected as a component of net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the condensed consolidated statements of operations. Fair value is the amount 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 (i.e., the exit price).
	Non-publicly traded debt and equity securities and other securities or instruments for which reliable market quotations are not available are valued by management using valuation methodologies applied on a consistent basis. These securities may initially be valued at the acquisition price as the best indicator of fair value. The Company reviews the significant unobservable inputs, valuations of comparable investments and other similar transactions for investments valued at acquisition price to determine whether another valuation methodology should be utilized. Subsequent valuations will depend on the facts and circumstances known as of the valuation date and the application of valuation methodologies further described below under “—Non-publicly Traded Equity and Real Estate Investments.” The fair value may also be based on a pending transaction expected to close after the valuation date.
	Exchange-traded Investments
	Securities listed on one or more national securities exchanges are valued at their last reported sales price on the date of valuation. If no sale occurred on the valuation date, the security is valued at the mean of the last “bid” and “ask” prices on the valuation date. Securities that are not readily marketable due to legal restrictions that may limit or restrict transferability are generally valued at a discount from quoted market prices. The discount would reflect the amount market participants would require due to the risk relating to the inability to access a public market for the security for the specified period and would vary depending on the nature and duration of the restriction and the perceived risk and volatility of the underlying securities. Securities with longer duration restrictions or higher volatility are generally valued at a higher discount. Such discounts are generally estimated based on put option models or an analysis of market studies. Instances where the Company has applied discounts to quoted prices of restricted listed securities have been infrequent. The impact of such discounts is not material to the Company’s condensed consolidated statements of financial condition and results of operations for all periods presented.
	Credit-oriented Investments (including Real Estate Loan Portfolios)
	Investments in corporate and government debt which are not listed or admitted to trading on any securities exchange are valued at the mean of the last bid and ask prices on the valuation date based on quotations supplied by recognized quotation services or by reputable broker-dealers.
	The market-yield approach is considered in the valuation of non-publicly traded debt securities, utilizing expected future cash flows and discounted using estimated current market rates. Discounted cash-flow calculations may be adjusted to reflect current market conditions and/or the perceived credit risk of the borrower. Consideration is also given to a borrower’s ability to meet principal and interest obligations; this may include an evaluation of collateral and/or the underlying value of the borrower utilizing techniques described below under “—Non-publicly Traded Equity and Real Estate Investments.”
	Non-publicly Traded Equity and Real Estate Investments
	The fair value of equity and real estate investments is determined using a cost, market or income approach. The cost approach is based on the current cost of reproducing a real estate investment less deterioration and functional and economic obsolescence. The market approach utilizes valuations of comparable public companies and transactions, and generally seeks to establish the enterprise value of the portfolio company or investment property using a market-multiple methodology. This approach takes into account the financial measure (such as EBITDA, adjusted EBITDA, free cash flow, net operating income, net income, book value or net asset value) believed to be most relevant for the given company or investment property. Consideration also may be given to factors such as acquisition price of the security or investment property, historical and projected operational and financial results for the portfolio company, the strengths and weaknesses of the portfolio company or investment property relative to its comparable companies or properties, industry trends, general economic and market conditions, and others deemed relevant. The income approach is typically a discounted cash-flow method that incorporates expected timing and level of cash flows. It incorporates assumptions in determining growth rates, income and expense projections, discount and capitalization rates, capital structure, terminal values, and other factors. The applicability and weight assigned to market and income approaches are determined based on the availability of reliable projections and comparable companies and transactions.
	The valuation of securities may be impacted by expectations of investors’ receptiveness to a public offering of the securities, the size of the holding of the securities and any associated control, information with respect to transactions or offers for the securities (including the transaction pursuant to which the investment was made and the elapsed time from the date of the investment to the valuation date), and applicable restrictions on the transferability of the securities.
	These valuation methodologies involve a significant degree of management judgment. Accordingly, valuations by the Company do not necessarily represent the amounts that eventually may be realized from sales or other dispositions of investments. Fair values may differ from the values that would have been used had a ready market for the investment existed, and the differences could be material to the condensed consolidated financial statements.
Recent Accounting Developments	'
	Recent Accounting Developments
	In August 2014, the Financial Accounting Standards Board (“FASB”) issued guidance on determining when and how reporting entities must disclose going-concern uncertainties in their financial statements. The guidance requires management to perform interim and annual assessments of an entity's ability to continue as a going concern within one year of the date of issuance of the entity's financial statements. Additionally, an entity must provide certain disclosures if there is substantial doubt about the entity's ability to continue as a going concern. The guidance is effective for the Company in the fourth quarter of 2016, with early adoption permitted. The Company does not expect that adoption of this guidance will have a material impact on its condensed consolidated financial statements.
	In August 2014, the FASB issued guidance on measuring the financial assets and financial liabilities of a consolidated collateralized financing entity. The guidance applies to reporting entities that are required to consolidate a collateralized financing entity under the VIE guidance when (a) the reporting entity measures all of the financial assets and financial liabilities of that consolidated financing entity at fair value in the consolidated financial statements and (b) the changes in the fair values of those financial assets and financial liabilities are reflected in earnings. The guidance provides an alternative for measuring the financial assets and financial liabilities of a consolidated collateralized financing entity to eliminate differences in the fair value of those financial assets and financial liabilities as determined under GAAP. The guidance is effective for the Company in the first quarter of 2016, with early adoption permitted. The Company is currently evaluating the effect that adoption may have on its condensed consolidated financial statements.
	In May 2014, the FASB and International Accounting Standards Board issued converged guidance on revenue recognition, which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The guidance provides a largely principles-based framework for addressing revenue recognition issues on a comprehensive basis, eliminates an entity’s ability to recognize revenue if there is risk of significant reversal, and requires enhanced disclosures to provide greater insight into both revenue that has been recognized and revenue that is expected to be recognized in the future from existing contracts, including quantitative and qualitative information about significant judgments and changes in those judgments made by management in recognizing revenue. The guidance is effective for the Company in the first quarter of 2017, with retrospective application. The Company is currently evaluating the effect that adoption may have on its condensed consolidated financial statements.
	In June 2013, the FASB issued guidance that amended the criteria by which an entity qualifies as an investment company for accounting purposes. The guidance also clarified the characteristics of and provided measurement and disclosure requirements for an investment company. The Company adopted this guidance in the first quarter of 2014, which resulted in additional disclosures (please see note 13), but did not have a material impact on its condensed consolidated financial statements.

INVESTMENTS_AT_FAIR_VALUE_Tabl

INVESTMENTS, AT FAIR VALUE (Tables)	9 Months Ended
	Sep. 30, 2014
Investments [Abstract]	'
Investments, at Fair Value	'
	Investments held and securities sold short by the consolidated funds are summarized below:


		Fair Value as of								Fair Value as a Percentage of Investments of Consolidated Funds as of
	Investments:	September 30,				December 31,				September 30,			December 31,
		2014				2013				2014			2013
	United States:
	Debt securities:
	Consumer discretionary	$	2,884,039			$	3,017,755			6.4	%		7.6	%

	Consumer staples	585,963				801,959				1.3			2

	Energy	909,878				650,336				2			1.6

	Financials	613,796				554,115				1.4			1.4

	Government	145,965				—				0.3			—

	Health care	1,002,629				600,570				2.2			1.5

	Industrials	1,798,894				1,768,600				4			4.4

	Information technology	1,142,531				1,130,614				2.5			2.8

	Materials	1,501,061				1,094,476				3.3			2.7

	Telecommunication services	325,599				289,046				0.7			0.7

	Utilities	1,513,060				2,182,098				3.3			5.6

	Total debt securities (cost: $12,661,266 and $12,008,435 as of September 30, 2014 and December 31, 2013, respectively)	12,423,415				12,089,569				27.4			30.3

	Equity securities:
	Consumer discretionary	2,709,327				3,164,000				6			7.9

	Consumer staples	530,953				482,521				1.2			1.2

	Energy	1,721,697				570,839				3.8			1.4

	Financials	7,075,077				6,474,365				15.6			16.3

	Health care	263,805				310,582				0.6			0.8

	Industrials	2,940,799				1,840,900				6.5			4.6

	Information technology	229,594				227,608				0.5			0.6

	Materials	951,037				923,933				2.1			2.3

	Telecommunication services	31,600				51,881				0			0.1

	Utilities	271,029				193,984				0.6			0.5

	Total equity securities (cost: $13,350,827 and $11,104,484 as of September 30, 2014 and December 31, 2013, respectively)	16,724,918				14,240,613				36.9			35.7



		Fair Value as of								Fair Value as a Percentage of Investments of Consolidated Funds as of
	Investments:	September 30,				December 31,				September 30,			December 31,
		2014				2013				2014			2013
	Europe:

	Debt securities:
Consumer discretionary	$	1,454,743			$	1,519,530			3.2	%		3.8	%

Consumer staples	187,613				159,489				0.4			0.4

Energy	376,966				295,942				0.8			0.7

Financials	696,012				612,123				1.5			1.5

Health care	92,525				39,189				0.2			0.1

Industrials	347,871				378,797				0.8			1

Information technology	47,921				22,216				0.1			0.1

Materials	463,134				663,984				1			1.7

Telecommunication services	111,857				175,231				0.3			0.4

Utilities	25,444				18,581				0.1			0

Total debt securities (cost: $3,776,455 and $3,349,740 as of September 30, 2014 and December 31, 2013, respectively)	3,804,086				3,885,082				8.4			9.7

Equity securities:
Consumer discretionary	224,628				198,045				0.5			0.5

Consumer staples	49,204				385,595				0.1			1

Energy	122,805				129,207				0.3			0.3

Financials	4,223,002				2,763,198				9.3			6.9

Health care	54,600				13,084				0.1			0

Industrials	1,353,026				784,524				3			2

Information technology	2,052				1,341				0			0

Materials	389,389				249,732				0.9			0.6

Telecommunication services	—				1,382				—			0

Total equity securities (cost: $5,780,068 and $4,111,171 as of September 30, 2014 and December 31, 2013, respectively)	6,418,706				4,526,108				14.2			11.3

Asia and other:
Debt securities:
Consumer discretionary	139,071				93,087				0.3			0.2

Consumer staples	58,411				25,424				0.1			0.1

Energy	163,261				74,167				0.4			0.2

Financials	287,028				159,369				0.6			0.4

Government	47,623				—				0.1			—

Health care	50,078				31,057				0.1			0.1

Industrials	834,675				1,247,793				1.8			3.1

Information technology	23,841				21,842				0.1			0.1

Materials	200,514				84,107				0.5			0.2

Telecommunication services	—				1,884				—			0

Utilities	10,299				6,808				0			0

Total debt securities (cost: $1,726,021 and $1,639,694 as of September 30, 2014 and December 31, 2013, respectively)	1,814,801				1,745,538				4			4.4



	Fair Value as of								Fair Value as a Percentage of Investments of Consolidated Funds as of
Investments:	September 30,				December 31,				September 30,			December 31,
	2014				2013				2014			2013
Asia and other:
Equity securities:

Consumer discretionary	$	656,264			$	422,731			1.5	%		1.1	%

Consumer staples	127,359				42,937				0.3			0.1

Energy	326,006				267,494				0.7			0.7

Financials	1,414,268				1,211,033				3.1			3

Health care	28,125				8,124				0.1			0

Industrials	919,351				1,136,934				2			2.9

Information technology	333,143				130,714				0.7			0.3

Materials	136,789				63,395				0.3			0.2

Telecommunication services	—				17,719				—			0

Utilities	177,118				123,897				0.4			0.3

Total equity securities (cost: $3,308,870 and $2,734,160 as of September 30, 2014 and December 31, 2013, respectively)	4,118,423				3,424,978				9.1			8.6

Total debt securities	18,042,302				17,720,189				39.8			44.4

Total equity securities	27,262,047				22,191,699				60.2			55.6

Total investments, at fair value	$	45,304,349			$	39,911,888			100	%		100	%

Securities Sold Short:
Securities sold short – equities (proceeds: $98,188 and $137,092 as of September 30, 2014 and December 31, 2013, respectively)	$	(89,869	)		$	(140,251	)
Net Gains (Losses) from Investment Activities of Consolidated Funds	'
	The following table summarizes net gains (losses) from investment activities:


		Three Months Ended September 30,
		2014								2013
		Net Realized Gain (Loss) on Investments				Net Change in Unrealized Appreciation (Depreciation) on Investments				Net Realized Gain (Loss) on Investments				Net Change in Unrealized Appreciation (Depreciation) on Investments
	Investments and other financial instruments	$	445,304			$	(1,970,423	)		$	760,923			$	306,542

	Foreign currency forward contracts (1)	(12,035		)		346,855				9,382				(222,589		)

	Total-return, credit-default and interest-rate swaps (1)	(2,829		)		(22,726		)		(1,235		)		19,637

	Options and futures (1)	(1,507		)		6,233				(2,871		)		(5,817		)

	Swaptions (2)	(666		)		1,325				—				—

	Total	$	428,267			$	(1,638,736	)		$	766,199			$	97,773



		Nine Months Ended September 30,
		2014								2013
		Net Realized Gain (Loss) on Investments				Net Change in Unrealized Appreciation (Depreciation) on Investments				Net Realized Gain (Loss) on Investments				Net Change in Unrealized Appreciation (Depreciation) on Investments
	Investments and other financial instruments	$	1,684,794			$	(470,724	)		$	2,773,547			$	998,935

	Foreign currency forward contracts (1)	(106,223		)		342,592				28,934				(38,598		)

	Total-return, credit-default and interest-rate swaps (1)	41,086				(36,290		)		2,648				44,396

	Options and futures (1)	(22,395		)		41				(8,681		)		2,762

	Swaptions (2)	(666		)		(3,987		)		—				—

	Total	$	1,596,596			$	(168,368	)		$	2,796,448			$	1,007,495





	-1	Please see note 6 for additional information.

	-2	A swaption is an option granting the buyer the right but not the obligation to enter into a swap agreement on a specified future date.

FAIR_VALUE_Tables

FAIR VALUE (Tables)	9 Months Ended
FAIR VALUE (Tables)	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, by Balance Sheet Grouping	'
	The Company’s other financial assets and liabilities by fair-value hierarchy level are set forth below:


		As of September 30, 2014																As of December 31, 2013
		Level I				Level II				Level III				Total				Level I				Level II				Level III			Total
	Assets
	U.S. Treasury securities (1)	$	480,362			$	—			$	—			$	480,362			$	676,600			$	—			$	—		$	676,600
	U.S. Treasury securities (1)	$	480,362			$	—			$	—			$	480,362			$	676,600			$	—			$	—		$	676,600
	Forward currency contracts (2)	—				20,360				—				20,360				—				7,893				—			7,893
	Forward currency contracts (2)	—				20,360				—				20,360				—				7,893				—			7,893
	Total-return swap (2)	—				—				—				—				—				4,515				—			4,515
	Total-return swap (2)	—				—				—				—				—				4,515				—			4,515
	Total assets	$	480,362			$	20,360			$	—			$	500,722			$	676,600			$	12,408			$	—		$	689,008
	Total assets	$	480,362			$	20,360			$	—			$	500,722			$	676,600			$	12,408			$	—		$	689,008

	Liabilities
	Contingent consideration (3)	$	—			$	—			$	(25,559	)		$	(25,559	)		$	—			$	—			$	—		$	—
	Contingent consideration (3)	$	—			$	—			$	(25,559	)		$	(25,559	)		$	—			$	—			$	—		$	—
	Forward currency contracts (3)	—				(1,636		)		—				(1,636		)		—				(6,141		)		—			(6,141		)
	Forward currency contracts (3)	—				(1,636		)		—				(1,636		)		—				(6,141		)		—			(6,141		)
	Interest-rate swaps (3)	—				(2,521		)		—				(2,521		)		—				(4,171		)		—			(4,171		)
	Interest-rate swaps (3)	—				(2,521		)		—				(2,521		)		—				(4,171		)		—			(4,171		)
	Total liabilities	$	—			$	(4,157	)		$	(25,559	)		$	(29,716	)		$	—			$	(10,312	)		$	—		$	(10,312	)
	Total liabilities	$	—			$	(4,157	)		$	(25,559	)		$	(29,716	)		$	—			$	(10,312	)		$	—		$	(10,312	)




	-1	Carrying value approximates fair value due to the short-term nature.

	-2	Amounts are included in other assets in the condensed consolidated statements of financial condition.

	-3	Amounts are included in accounts payable, accrued expenses and other liabilities in the condensed consolidated statements of financial condition.
Valuation of Investments and Other Financial Instruments	'
	The table below summarizes the investments and other financial instruments of the consolidated funds by fair-value hierarchy level:


		As of September 30, 2014																As of December 31, 2013
		Level I				Level II				Level III				Total				Level I				Level II				Level III			Total
	Assets
	Investments:
	Corporate debt – bank debt	$	—			$	7,943,937			$	2,031,963			$	9,975,900			$	—			$	7,352,129			$	2,809,437		$	10,161,566
	Corporate debt – bank debt	$	—			$	7,943,937			$	2,031,963			$	9,975,900			$	—			$	7,352,129			$	2,809,437		$	10,161,566
	Corporate debt – all other	475				5,508,260				2,557,667				8,066,402				798				5,125,646				2,432,179			7,558,623
	Corporate debt – all other	475				5,508,260				2,557,667				8,066,402				798				5,125,646				2,432,179			7,558,623
	Equities – common stock	6,101,129				237,450				9,552,077				15,890,656				4,804,068				1,109,270				6,700,015			12,613,353
	Equities – common stock	6,101,129				237,450				9,552,077				15,890,656				4,804,068				1,109,270				6,700,015			12,613,353
	Equities – preferred stock	15,267				2,472				1,239,394				1,257,133				4,101				8,483				919,771			932,355
	Equities – preferred stock	15,267				2,472				1,239,394				1,257,133				4,101				8,483				919,771			932,355
	Real estate	—				—				7,799,206				7,799,206				—				37,184				6,221,294			6,258,478
	Real estate	—				—				7,799,206				7,799,206				—				37,184				6,221,294			6,258,478
	Real estate loan portfolios	—				—				2,297,898				2,297,898				—				—				2,369,441			2,369,441
	Real estate loan portfolios	—				—				2,297,898				2,297,898				—				—				2,369,441			2,369,441
	Other	1,367				—				15,787				17,154				2,656				1,708				13,708			18,072
	Other	1,367				—				15,787				17,154				2,656				1,708				13,708			18,072
	Total investments	6,118,238				13,692,119				25,493,992				45,304,349				4,811,623				13,634,420				21,465,845			39,911,888
	Total investments	6,118,238				13,692,119				25,493,992				45,304,349				4,811,623				13,634,420				21,465,845			39,911,888
	Derivatives:
	Forward currency contracts	—				312,939				—				312,939				—				51,765				—			51,765
	Forward currency contracts	—				312,939				—				312,939				—				51,765				—			51,765
	Swaps	—				14,750				4,093				18,843				—				18,318				—			18,318
	Swaps	—				14,750				4,093				18,843				—				18,318				—			18,318
	Options and futures	3,040				27,932				—				30,972				101				18,037				—			18,138
	Options and futures	3,040				27,932				—				30,972				101				18,037				—			18,138
	Swaptions	—				1,530				—				1,530				—				6,716				—			6,716
	Swaptions	—				1,530				—				1,530				—				6,716				—			6,716
	Total derivatives	3,040				357,151				4,093				364,284				101				94,836				—			94,937
	Total derivatives	3,040				357,151				4,093				364,284				101				94,836				—			94,937
	Total assets	$	6,121,278			$	14,049,270			$	25,498,085			$	45,668,633			$	4,811,724			$	13,729,256			$	21,465,845		$	40,006,825
	Total assets	$	6,121,278			$	14,049,270			$	25,498,085			$	45,668,633			$	4,811,724			$	13,729,256			$	21,465,845		$	40,006,825

	Liabilities
	Securities sold short – equities	$	(89,869	)		$	—			$	—			$	(89,869	)		$	(140,251	)		$	—			$	—		$	(140,251	)
	Securities sold short – equities	$	(89,869	)		$	—			$	—			$	(89,869	)		$	(140,251	)		$	—			$	—		$	(140,251	)
	Derivatives:
	Forward currency contracts	—				(48,247		)		—				(48,247		)		—				(135,246		)		—			(135,246		)
	Forward currency contracts	—				(48,247		)		—				(48,247		)		—				(135,246		)		—			(135,246		)
	Swaps	—				(42,947		)		—				(42,947		)		—				(7,096		)		—			(7,096		)
	Swaps	—				(42,947		)		—				(42,947		)		—				(7,096		)		—			(7,096		)
	Options and futures	(206		)		(4,391		)		—				(4,597		)		(5,030		)		(1,184		)		—			(6,214		)
	Options and futures	(206		)		(4,391		)		—				(4,597		)		(5,030		)		(1,184		)		—			(6,214		)
	Swaptions	—				(572		)		—				(572		)		—				(1,324		)		—			(1,324		)
	Swaptions	—				(572		)		—				(572		)		—				(1,324		)		—			(1,324		)
	Total derivatives	(206		)		(96,157		)		—				(96,363		)		(5,030		)		(144,850		)		—			(149,880		)
	Total derivatives	(206		)		(96,157		)		—				(96,363		)		(5,030		)		(144,850		)		—			(149,880		)
	Total liabilities	$	(90,075	)		$	(96,157	)		$	—			$	(186,232	)		$	(145,281	)		$	(144,850	)		$	—		$	(290,131	)
	Total liabilities	$	(90,075	)		$	(96,157	)		$	—			$	(186,232	)		$	(145,281	)		$	(144,850	)		$	—		$	(290,131	)

Summary of Changes in Fair Value of Level III Investments	'
	The following tables summarize changes in the fair value of the Level III investments:


			Corporate Debt – Bank Debt				Corporate Debt – All Other				Equities – Common Stock				Equities – Preferred Stock				Real Estate				Real Estate Loan Portfolios				Swaps			Other				Total
	Three Months Ended
	September 30, 2014:
	Beginning balance		$	1,944,391			$	2,346,508			$	8,334,621			$	1,200,716			$	8,020,570			$	2,516,827			$	836		$	14,887			$	24,379,356
	Beginning balance		$	1,944,391			$	2,346,508			$	8,334,621			$	1,200,716			$	8,020,570			$	2,516,827			$	836		$	14,887			$	24,379,356
	Transfers into Level III		3,976				151,436				428,142				—				3,925				—				—			—				587,479
	Transfers into Level III		3,976				151,436				428,142				—				3,925				—				—			—				587,479
	Transfers out of Level III		(219,950		)		—				(382,830		)		(76,821		)		(3,925		)		—				—			—				(683,526		)
	Transfers out of Level III		(219,950		)		—				(382,830		)		(76,821		)		(3,925		)		—				—			—				(683,526		)
	Purchases		484,567				222,089				1,547,303				73,276				453,157				48,822				—			1,000				2,830,214
	Purchases		484,567				222,089				1,547,303				73,276				453,157				48,822				—			1,000				2,830,214
	Sales		(128,806		)		(80,736		)		(160,046		)		(1,208		)		(690,580		)		(413,965		)		—			(232		)		(1,475,573		)
	Sales		(128,806		)		(80,736		)		(160,046		)		(1,208		)		(690,580		)		(413,965		)		—			(232		)		(1,475,573		)
	Realized gains (losses), net		15,274				(31,977		)		11,350				(893		)		167,963				87,627				—			(874		)		248,470
	Realized gains (losses), net		15,274				(31,977		)		11,350				(893		)		167,963				87,627				—			(874		)		248,470
	Unrealized appreciation (depreciation), net		(67,489		)		(49,653		)		(226,463		)		44,324				(151,904		)		58,587				3,257			1,006				(388,335		)
	Unrealized appreciation (depreciation), net		(67,489		)		(49,653		)		(226,463		)		44,324				(151,904		)		58,587				3,257			1,006				(388,335		)
	Ending balance		$	2,031,963			$	2,557,667			$	9,552,077			$	1,239,394			$	7,799,206			$	2,297,898			$	4,093		$	15,787			$	25,498,085
	Ending balance		$	2,031,963			$	2,557,667			$	9,552,077			$	1,239,394			$	7,799,206			$	2,297,898			$	4,093		$	15,787			$	25,498,085
	Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period		$	(85,726	)		$	(7,465	)		$	(25,962	)		$	83,015			$	(42,386	)		$	58,587			$	3,257		$	(99	)		$	(16,779	)
			$	(85,726	)		$	(7,465	)		$	(25,962	)		$	83,015			$	(42,386	)		$	58,587			$	3,257		$	(99	)		$	(16,779	)
	Three Months Ended
	September 30, 2013:
	Beginning balance		$	1,711,680			$	2,535,280			$	7,373,118			$	663,523			$	5,199,534			$	1,989,515			$	55,817		$	14,516			$	19,542,983
	Beginning balance		$	1,711,680			$	2,535,280			$	7,373,118			$	663,523			$	5,199,534			$	1,989,515			$	55,817		$	14,516			$	19,542,983
	Transfers into Level III		276,696				48,124				105,583				118,496				—				—				—			—				548,899
	Transfers into Level III		276,696				48,124				105,583				118,496				—				—				—			—				548,899
	Transfers out of Level III		(72,043		)		(14,544		)		(654,361		)		(9,991		)		—				—				—			—				(750,939		)
	Transfers out of Level III		(72,043		)		(14,544		)		(654,361		)		(9,991		)		—				—				—			—				(750,939		)
	Purchases		533,073				240,959				334,417				105,921				624,020				253,669				—			—				2,092,059
	Purchases		533,073				240,959				334,417				105,921				624,020				253,669				—			—				2,092,059
	Sales		(280,820		)		(254,764		)		(860,649		)		(723		)		(148,528		)		(357,451		)		—			—				(1,902,935		)
	Sales		(280,820		)		(254,764		)		(860,649		)		(723		)		(148,528		)		(357,451		)		—			—				(1,902,935		)
	Realized gains (losses), net		19,096				65,722				397,272				164				24,190				9,781				—			—				516,225
	Realized gains (losses), net		19,096				65,722				397,272				164				24,190				9,781				—			—				516,225
	Unrealized appreciation (depreciation), net		101,226				40,856				(226,424		)		(14,590		)		156,494				83,618				18,980			(401		)		159,759
	Unrealized appreciation (depreciation), net		101,226				40,856				(226,424		)		(14,590		)		156,494				83,618				18,980			(401		)		159,759
	Ending balance		$	2,288,908			$	2,661,633			$	6,468,956			$	862,800			$	5,855,710			$	1,979,132			$	74,797		$	14,115			$	20,206,051
	Ending balance		$	2,288,908			$	2,661,633			$	6,468,956			$	862,800			$	5,855,710			$	1,979,132			$	74,797		$	14,115			$	20,206,051
	Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period		$	102,940			$	22,270			$	(14,316	)		$	30,688			$	138,039			$	83,618			$	18,973		$	(344	)		$	381,868
			$	102,940			$	22,270			$	(14,316	)		$	30,688			$	138,039			$	83,618			$	18,973		$	(344	)		$	381,868


			Corporate Debt – Bank Debt				Corporate Debt – All Other				Equities – Common Stock				Equities – Preferred Stock				Real Estate				Real Estate Loan Portfolios				Swaps			Other				Total
	Nine Months Ended
	September 30, 2014:
	Beginning balance		$	2,809,437			$	2,432,179			$	6,700,015			$	919,771			$	6,221,294			$	2,369,441			$	—		$	13,708			$	21,465,845
	Beginning balance		$	2,809,437			$	2,432,179			$	6,700,015			$	919,771			$	6,221,294			$	2,369,441			$	—		$	13,708			$	21,465,845
	Transfers into Level III		816,797				313,982				852,824				—				132,502				—				—			—				2,116,105
	Transfers into Level III		816,797				313,982				852,824				—				132,502				—				—			—				2,116,105
	Transfers out of Level III		(1,768,697		)		(18,871		)		(876,178		)		(83,365		)		(94,821		)		—				—			—				(2,841,932		)
	Transfers out of Level III		(1,768,697		)		(18,871		)		(876,178		)		(83,365		)		(94,821		)		—				—			—				(2,841,932		)
	Purchases		888,791				501,385				3,068,812				249,973				2,146,535				699,234				—			2,000				7,556,730
	Purchases		888,791				501,385				3,068,812				249,973				2,146,535				699,234				—			2,000				7,556,730
	Sales		(735,809		)		(689,974		)		(477,359		)		(69,486		)		(1,268,380		)		(1,064,002		)		—			(232		)		(4,305,242		)
	Sales		(735,809		)		(689,974		)		(477,359		)		(69,486		)		(1,268,380		)		(1,064,002		)		—			(232		)		(4,305,242		)
	Realized gains (losses), net		120,750				87,061				76,760				(16,978		)		264,088				145,066				—			(874		)		675,873
	Realized gains (losses), net		120,750				87,061				76,760				(16,978		)		264,088				145,066				—			(874		)		675,873
	Unrealized appreciation (depreciation), net		(99,306		)		(68,095		)		207,203				239,479				397,988				148,159				4,093			1,185				830,706
	Unrealized appreciation (depreciation), net		(99,306		)		(68,095		)		207,203				239,479				397,988				148,159				4,093			1,185				830,706
Ending balance		$	2,031,963			$	2,557,667			$	9,552,077			$	1,239,394			$	7,799,206			$	2,297,898			$	4,093		$	15,787			$	25,498,085
Ending balance		$	2,031,963			$	2,557,667			$	9,552,077			$	1,239,394			$	7,799,206			$	2,297,898			$	4,093		$	15,787			$	25,498,085
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period		$	(44,291	)		$	72,149			$	533,070			$	264,924			$	556,131			$	148,159			$	4,093		$	79			$	1,534,314
		$	(44,291	)		$	72,149			$	533,070			$	264,924			$	556,131			$	148,159			$	4,093		$	79			$	1,534,314
Nine Months Ended
September 30, 2013:
Beginning balance		$	2,253,476			$	3,159,051			$	8,101,051			$	650,096			$	3,946,142			$	1,737,822			$	44,705		$	15,547			$	19,907,890
Beginning balance		$	2,253,476			$	3,159,051			$	8,101,051			$	650,096			$	3,946,142			$	1,737,822			$	44,705		$	15,547			$	19,907,890
Transfers into Level III		440,605				59,544				698,735				385,099				15,055				—				—			—				1,599,038
Transfers into Level III		440,605				59,544				698,735				385,099				15,055				—				—			—				1,599,038
Transfers out of Level III		(669,172		)		(215,738		)		(1,059,337		)		(9,991		)		—				—				—			—				(1,954,238		)
Transfers out of Level III		(669,172		)		(215,738		)		(1,059,337		)		(9,991		)		—				—				—			—				(1,954,238		)
Purchases		827,924				358,510				685,588				203,315				1,556,156				849,342				—			—				4,480,835
Purchases		827,924				358,510				685,588				203,315				1,556,156				849,342				—			—				4,480,835
Sales		(708,296		)		(898,672		)		(2,277,253		)		(312,669		)		(497,633		)		(810,873		)		—			—				(5,505,396		)
Sales		(708,296		)		(898,672		)		(2,277,253		)		(312,669		)		(497,633		)		(810,873		)		—			—				(5,505,396		)
Realized gains (losses), net		18,523				157,027				922,320				55,985				169,388				27,713				—			—				1,350,956
Realized gains (losses), net		18,523				157,027				922,320				55,985				169,388				27,713				—			—				1,350,956
Unrealized appreciation (depreciation), net		125,848				41,911				(602,148		)		(109,035		)		666,602				175,128				30,092			(1,432		)		326,966
Unrealized appreciation (depreciation), net		125,848				41,911				(602,148		)		(109,035		)		666,602				175,128				30,092			(1,432		)		326,966
Ending balance		$	2,288,908			$	2,661,633			$	6,468,956			$	862,800			$	5,855,710			$	1,979,132			$	74,797		$	14,115			$	20,206,051
Ending balance		$	2,288,908			$	2,661,633			$	6,468,956			$	862,800			$	5,855,710			$	1,979,132			$	74,797		$	14,115			$	20,206,051
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period		$	90,534			$	101,485			$	119,749			$	(50,371	)		$	616,914			$	175,128			$	30,092		$	(1,376	)		$	1,082,155
		$	90,534			$	101,485			$	119,749			$	(50,371	)		$	616,914			$	175,128			$	30,092		$	(1,376	)		$	1,082,155

Summary of Valuation Techniques and Quantitative Information	'
	The following table sets forth a summary of the valuation technique and quantitative information utilized in determining the fair value of the consolidated funds’ Level III investments as of September 30, 2014:


	Investment Type		Fair Value				Valuation Technique		Significant Unobservable Inputs (9)(10)(11)		Range		Weighted Average (12)

	Credit-oriented investments:
	Consumer		$	181,332			Discounted cash flow (1)		Discount rate		5% – 23%		12%
	discretionary:		$	181,332			Discounted cash flow (1)		Discount rate		5% – 23%		12%
			577,793				Market approach		Earnings multiple (3)		3x – 12x		6x
			577,793				(comparable companies) (2)		Earnings multiple (3)		3x – 12x		6x
			133,396				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
			133,396				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
			181,786				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
			181,786				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
	Financials:		163,038				Discounted cash flow (1)		Discount rate		12% – 17%		12%
	Financials:		163,038				Discounted cash flow (1)		Discount rate		12% – 17%		12%
			55,438				Market approach		Underlying asset multiple		0.9x – 1.1x		1x
			55,438				(value of underlying assets) (2)(4)		Underlying asset multiple		0.9x – 1.1x		1x
			267,091				Discounted cash flow (1) /		Discount rate / Market transactions		6% – 8%		7%
			267,091				Sales approach (8)		Discount rate / Market transactions		6% – 8%		7%
			287,366				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
			287,366				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
			73,237				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
			73,237				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
	Industrials:		244,077				Discounted cash flow (1)		Discount rate		5% – 19%		13%
	Industrials:		244,077				Discounted cash flow (1)		Discount rate		5% – 19%		13%
			329,854				Discounted cash flow (1) /		Discount rate / Market transactions		10% – 16%		13%
			329,854				Sales approach (8)		Discount rate / Market transactions		10% – 16%		13%
			76,370				Market approach		Earnings multiple (3)		4x – 9x		6x
			76,370				(comparable companies) (2)		Earnings multiple (3)		4x – 9x		6x
			82,373				Market approach		Underlying asset multiple		0.9x – 1.1x		1x
			82,373				(value of underlying assets) (2)(4)		Underlying asset multiple		0.9x – 1.1x		1x
			65,511				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
			65,511				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
			173,719				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
			173,719				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
	Materials:		102,767				Discounted cash flow (1)		Discount rate		11% – 14%		13%
	Materials:		102,767				Discounted cash flow (1)		Discount rate		11% – 14%		13%
			187,709				Discounted cash flow (1) /		Discount rate / Market transactions		14% – 16%		15%
			187,709				Sales approach (8)		Discount rate / Market transactions		14% – 16%		15%
			204,270				Market approach		Earnings multiple (3)		7x – 8x		8x
			204,270				(comparable companies) (2)		Earnings multiple (3)		7x – 8x		8x
			85,568				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
			85,568				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
	Other:		462,283				Discounted cash flow (1)		Discount rate		5% – 14%		11%
	Other:		462,283				Discounted cash flow (1)		Discount rate		5% – 14%		11%
			356,534				Market approach		Earnings multiple (3)		7x – 10x		9x
			356,534				(comparable companies) (2)		Earnings multiple (3)		7x – 10x		9x
			30,752				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
			30,752				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
			271,459				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
			271,459				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
	Equity investments:
	Energy:		52,699				Discounted cash flow (1)		Discount rate		10% – 12%		11%
	Energy:		52,699				Discounted cash flow (1)		Discount rate		10% – 12%		11%





	Investment Type		Fair Value				Valuation Technique		Significant Unobservable Inputs (9)(10)(11)		Range		Weighted Average (12)

			$	1,124,865			Market approach		Earnings multiple (3)		5x – 15x		12x
(comparable companies) (2)			$	1,124,865					Earnings multiple (3)		5x – 15x		12x
		232,269				Recent transaction price (5)		Quoted prices / discount		Not applicable		Not applicable
		232,269				Recent transaction price (5)		(discount not applicable)		Not applicable		Not applicable
		186,091				Other		Not applicable		Not applicable		Not applicable
		186,091				Other		Not applicable		Not applicable		Not applicable
Industrials:		2,006,387				Market approach		Earnings multiple (3)		4x – 14x		8x
Industrials:		2,006,387				(comparable companies) (2)		Earnings multiple (3)		4x – 14x		8x
		2,394,023				Market approach		Underlying asset multiple		1x – 1.3x		1x
		2,394,023				(value of underlying assets) (2)(4)		Underlying asset multiple		1x – 1.3x		1x
		41,800				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		41,800				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		634,939				Recent market information (6)		Quoted prices / discount		0% – 5%		4%
		634,939				Recent market information (6)		Quoted prices / discount		0% – 5%		4%
Materials:		1,130,739				Market approach		Earnings multiple (3)		4x – 10x		8x
Materials:		1,130,739				(comparable companies) (2)		Earnings multiple (3)		4x – 10x		8x
		52,185				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		52,185				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		127,731				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		127,731				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Other:		1,497,860				Market approach		Earnings multiple (3)		4x – 13x		8x
Other:		1,497,860				(comparable companies) (2)		Earnings multiple (3)		4x – 13x		8x
		791,601				Market approach		Underlying asset multiple		1x – 1.4x		1.1x
		791,601				(value of underlying assets) (2)(4)		Underlying asset multiple		1x – 1.4x		1.1x
		237,468				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		237,468				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		226,671				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		226,671				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
		54,143				Other		Not applicable		Not applicable		Not applicable
		54,143				Other		Not applicable		Not applicable		Not applicable
Real estate-oriented
investments:
		2,779,492				Discounted cash flow (1)(7)		Discount rate		7% – 44%		14%
		2,779,492				Discounted cash flow (1)(7)		Discount rate		7% – 44%		14%
								Terminal capitalization rate		6% – 10%		8%
								Direct capitalization rate		5% – 8%		7%
								Net operating income growth rate		0% – 31%		9%
								Absorption rate		16% – 44%		35%
		1,629,207				Market approach		Earnings multiple (3)		6x – 18x		13x
		1,629,207				(comparable companies) (2)		Earnings multiple (3)		6x – 18x		13x
		619,892				Market approach		Underlying asset multiple		1.2x – 1.4x		1.3x
		619,892				(value of underlying assets) (2)(4)		Underlying asset multiple		1.2x – 1.4x		1.3x
		940,366				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		940,366				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		788,660				Recent market information (6)		Quoted prices / discount		0% – 5%		4%
		788,660				Recent market information (6)		Quoted prices / discount		0% – 5%		4%
		946,016				Sales approach (8)		Market transactions		Not applicable		Not applicable
		946,016				Sales approach (8)		Market transactions		Not applicable		Not applicable
		95,573				Other		Not applicable		Not applicable		Not applicable
		95,573				Other		Not applicable		Not applicable		Not applicable
Real estate loan
portfolios:
		1,441,573				Discounted cash flow (1)(7)		Discount rate		7% – 20%		14%
		1,441,573				Discounted cash flow (1)(7)		Discount rate		7% – 20%		14%
		856,325				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		856,325				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
Other		15,787
Other		15,787
Total Level III		$	25,498,085
investments		$	25,498,085
The following table sets forth a summary of the valuation technique and quantitative information utilized in determining the fair value of the Company’s Level III investments as of December 31, 2013:


Investment Type		Fair Value				Valuation Technique		Significant Unobservable Inputs (9)(10)(11)		Range		Weighted Average (12)

Credit-oriented investments:
Consumer		$	40,998			Discounted cash flow (1)		Discount rate		13% – 15%		14%
discretionary:		$	40,998			Discounted cash flow (1)		Discount rate		13% – 15%		14%
		571,865				Market approach		Earnings multiple (3)		4x – 11x		5x
		571,865				(comparable companies) (2)		Earnings multiple (3)		4x – 11x		5x
		321,619				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		321,619				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		139,002				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		139,002				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Industrials:		328,712				Discounted cash flow (1)		Discount rate		12% – 17%		14%
Industrials:		328,712				Discounted cash flow (1)		Discount rate		12% – 17%		14%
		335,270				Discounted cash flow (1) /		Discount rate / Market transactions		11% – 20%		14%
		335,270				Sales approach (8)		Discount rate / Market transactions		11% – 20%		14%
		59,349				Market approach		Earnings multiple (3)		4x – 6x		6x
		59,349				(comparable companies) (2)		Earnings multiple (3)		4x – 6x		6x
		77,550				Market approach		Underlying asset multiple		0.9x – 1.1x		1x
		77,550				(value of underlying assets) (2)(4)		Underlying asset multiple		0.9x – 1.1x		1x
		208,436				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		208,436				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		840,871				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		840,871				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Materials:		67,280				Discounted cash flow (1)		Discount rate		13% – 14%		13%
Materials:		67,280				Discounted cash flow (1)		Discount rate		13% – 14%		13%
		437,522				Market approach		Earnings multiple (3)		6x – 7x		6x
		437,522				(comparable companies) (2)		Earnings multiple (3)		6x – 7x		6x
		79,020				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		79,020				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
Other:		704,430				Discounted cash flow (1)		Discount rate		8% – 15%		11%
Other:		704,430				Discounted cash flow (1)		Discount rate		8% – 15%		11%
		337,406				Market approach		Earnings multiple (3)		6x – 7x		7x
		337,406				(comparable companies) (2)		Earnings multiple (3)		6x – 7x		7x
		291,925				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		291,925				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		400,361				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		400,361				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Equity investments:
Consumer		57,560				Discounted cash flow (1)		Discount rate		12% – 14%		13%
discretionary:		57,560				Discounted cash flow (1)		Discount rate		12% – 14%		13%
		504,550				Market approach		Earnings multiple (3)		4x – 11x		9x
		504,550				(comparable companies) (2)		Earnings multiple (3)		4x – 11x		9x
		97,834				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		97,834				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		140,705				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		140,705				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
Financials:		344,636				Market approach		Earnings multiple (3)		12x – 14x		13x
Financials:		344,636				(comparable companies) (2)		Earnings multiple (3)		12x – 14x		13x
		407,823				Market approach		Underlying asset multiple		1x – 1.2x		1.1x
		407,823				(value of underlying assets) (2)(4)		Underlying asset multiple		1x – 1.2x		1.1x
		185,140				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		185,140				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
Industrials:		1,511,811				Market approach		Earnings multiple (3)		4x – 12x		8x
Industrials:		1,511,811				(comparable companies) (2)		Earnings multiple (3)		4x – 12x		8x
		1,064,686				Market approach		Underlying asset multiple		1x – 1.4x		1.1x
		1,064,686				(value of underlying assets) (2)(4)		Underlying asset multiple		1x – 1.4x		1.1x
		745,519				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		745,519				Recent transaction price (5)		Not applicable		Not applicable		Not applicable




Investment Type		Fair Value				Valuation Technique		Significant Unobservable Inputs (9)(10)(11)		Range		Weighted Average (12)

Materials:		$	1,014,930			Market approach		Earnings multiple (3)		6x – 8x		7x
Materials:		$	1,014,930			(comparable companies) (2)		Earnings multiple (3)		6x – 8x		7x
		1,604				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		1,604				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
		56,064				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		56,064				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
Other:		60,451				Discounted cash flow (1)		Discount rate		10% – 12%		11%
Other:		60,451				Discounted cash flow (1)		Discount rate		10% – 12%		11%
		1,052,158				Market approach		Earnings multiple (3)		5x – 11x		9x
		1,052,158				(comparable companies) (2)		Earnings multiple (3)		5x – 11x		9x
		21,790				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		21,790				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		107,361				Recent market information (6)		Quoted prices / discount		Not applicable		Not applicable
		107,361				Recent market information (6)		(discount not applicable)		Not applicable		Not applicable
		245,164				Other		Not applicable		Not applicable		Not applicable
		245,164				Other		Not applicable		Not applicable		Not applicable
Real estate-oriented
investments:
		1,997,927				Discounted cash flow (1)(7)		Discount rate		8% – 36%		14%
		1,997,927				Discounted cash flow (1)(7)		Discount rate		8% – 36%		14%
								Terminal capitalization rate		6% – 15%		8%
								Direct capitalization rate		7% – 8%		8%
								Net operating income growth rate		1% – 30%		9%
								Absorption rate		16% – 44%		32%
		1,230,234				Market approach		Earnings multiple (3)		6x – 12x		12x
		1,230,234				(comparable companies) (2)		Earnings multiple (3)		6x – 12x		12x
		427,452				Market approach		Underlying asset multiple		1.3x – 1.5x		1.4x
		427,452				(value of underlying assets) (2)(4)		Underlying asset multiple		1.3x – 1.5x		1.4x
		710,888				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		710,888				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		684,802				Sales approach (8)		Market transactions		Not applicable		Not applicable
		684,802				Sales approach (8)		Market transactions		Not applicable		Not applicable
		1,169,991				Recent market information (6)		Quoted prices / discount		0% – 6%		5%
		1,169,991				Recent market information (6)		Quoted prices / discount		0% – 6%		5%
Real estate loan
portfolios:
		593,986				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		593,986				Recent transaction price (5)		Not applicable		Not applicable		Not applicable
		1,775,455				Discounted cash flow (1)(7)		Discount rate		10% – 24%		15%
		1,775,455				Discounted cash flow (1)(7)		Discount rate		10% – 24%		15%
Other		13,708
Other		13,708
Total Level III		$	21,465,845
investments		$	21,465,845




-1	A discounted cash-flow method is generally used to value performing credit-oriented investments in which the consolidated funds do not have a controlling interest in the underlying issuer, as well as certain equity investments, real estate-oriented investments and real estate loan portfolios.

-2	A market approach is generally used to value distressed investments and investments in which the consolidated funds have a controlling interest in the underlying issuer.

-3	Earnings multiples are based on comparable public companies and transactions with comparable companies. The Company typically utilizes multiples of EBITDA; however, in certain cases the Company may use other earnings multiples believed to be most relevant to the investment. The Company typically applies the multiple to trailing twelve-months’ EBITDA. However, in certain cases other earnings measures, such as pro forma EBITDA, may be utilized if deemed to be more relevant.

-4	A market approach using the value of underlying assets utilizes a multiple, based on comparable companies, of underlying assets or the net book value of the portfolio company. The Company typically obtains the value of underlying assets from the underlying portfolio company’s financial statements or from pricing vendors. The Company may value the underlying assets by using prices and other relevant information from market transactions involving comparable assets.

-5	Certain investments are valued based on recent transactions, generally defined as investments purchased or sold within six months of the valuation date. The fair value may also be based on a pending transaction expected to close after the valuation date.

-6	Certain investments are valued using quoted prices for the subject or similar securities. Generally, investments valued in this manner are classified as Level III because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities, or may require adjustment for investment-specific factors or restrictions.

-7	The discounted cash flow model for certain real estate-oriented investments and certain real estate loan portfolios contains a sell-out analysis. In these cases, the discounted cash flow is based on the expected timing and prices of sales of the underlying properties. The Company’s determination of the sales prices of these properties typically includes consideration of prices and other relevant information from market transactions involving comparable properties.

-8	The sales approach uses prices and other relevant information generated by market transactions involving comparable assets. The significant unobservable inputs used in the sales approach generally include adjustments to transactions involving comparable assets or properties, adjustments to external or internal appraised values, and the Company’s assumptions regarding market trends or other relevant factors.

-9	The discount rate is the significant unobservable input used in the fair-value measurement of performing credit-oriented investments in which the consolidated funds do not have a controlling interest in the underlying issuer, as well as certain equity investments and real estate loan portfolios. An increase (decrease) in the discount rate would result in a lower (higher) fair-value measurement.

-10	Multiple of either earnings or underlying assets is the significant unobservable input used in the market approach for the fair-value measurement of distressed credit-oriented investments, credit-oriented investments in which the consolidated funds have a controlling interest in the underlying issuer, equity investments and certain real estate-oriented investments. An increase (decrease) in the multiple would result in a higher (lower) fair-value measurement.

-11	The significant unobservable inputs used in the fair-value measurement of real estate investments utilizing a discounted cash flow analysis can include one or more of the following: discount rate, terminal capitalization rate, direct capitalization rate, net operating income growth rate or absorption rate. An increase (decrease) in a discount rate, terminal capitalization rate or direct capitalization rate would result in a lower (higher) fair-value measurement. An increase (decrease) in a net operating income growth rate or absorption rate would result in a higher (lower) fair-value measurement. Generally, a change in a net operating income growth rate or absorption rate would be accompanied by a directionally similar change in the discount rate.

-12	The weighted average is based on the fair value of the investments included in the range.

HEDGES_AND_OTHER_DERIVATIVE_IN1

HEDGES AND OTHER DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Summary of Net Forward Currency Sell Contracts Under Freestanding Derivatives	'
	The fair value of forward currency sell contracts consisted of the following:


	As of September 30, 2014:	Contract			Contract				Market				Net Unrealized
		Amount in			Amount in				Value in				Appreciation
		Local Currency			U.S. Dollars				U.S. Dollars				(Depreciation)
	Euro, expiring 10/8/14-9/30/15	163,120			$	221,421			$	206,346			$	15,075

	USD (buy GBP), expiring 10/31/14-9/30/15	78,034			78,034				79,671				(1,637		)

	Japanese Yen, expiring 10/31/14-9/30/15	7,314,300			72,102				66,816				5,286

	Total				$	371,557			$	352,833			$	18,724


	As of December 31, 2013:

	Euro, expiring 1/8/14-10/31/14	115,685			$	153,959			$	159,485			$	(5,526	)

	USD (buy GBP), expiring 1/8/14-9/30/14	54,361			54,361				50,286				4,075

	GBP, expiring 4/30/14	3,000			4,643				4,966				(323		)

	Japanese Yen, expiring 1/31/14-1/30/15	6,261,700			63,107				59,581				3,526

	Total				$	276,070			$	274,318			$	1,752

Schedule of Fair Values of Total Return Swaps	'
	The fair value of the TRS contract as of December 31, 2013 is included in other assets in the condensed consolidated statements of financial condition and is shown below.


		As of December 31, 2013
		Notional				Fair Value
	Total-return swap	$	189,089			$	4,515

Summary of Impact of Freestanding Derivative Instruments on Condensed Consolidated Statement of Operations	'
	Realized and unrealized gains and losses arising from freestanding derivative instruments were recorded in the condensed consolidated statements of operations as follows:


		For the Three Months								For the Nine Months
		Ended September 30,								Ended September 30,
	Foreign Currency Forward Contracts:	2014				2013				2014				2013
	General and administrative expenses (1)	$	17,231			$	(3,531	)		$	18,325			$	1,318


	Total-return Swap:
	Investment income	$	—			$	132			$	2,554			$	132





	-1	To the extent that the Company’s freestanding derivatives are utilized to hedge its exposure to investment income and management fees earned from consolidated funds, the related hedged items are eliminated in consolidation, with the derivative impact (a positive number reflects a reduction of expenses) reflected in consolidated general and administrative expenses.
Impact of Derivative Instruments Held by Consolidated Funds on Condensed Consolidated Statements of Operations	'
	The impact of derivative instruments held by the consolidated funds in the condensed consolidated statements of operations was as follows:


		Three Months Ended September 30,
		2014								2013
		Net Realized Gain (Loss) on Investments				Net Change in Unrealized Appreciation (Depreciation) on Investments				Net Realized Gain (Loss) on Investments				Net Change in Unrealized Appreciation (Depreciation) on Investments
	Foreign currency forward contracts	$	(12,035	)		$	346,855			$	9,382			$	(222,589	)

	Total-return, credit-default and interest-rate swaps	(2,829		)		(22,726		)		(1,235		)		19,637

	Options and futures	(1,507		)		6,233				(2,871		)		(5,817		)

	Swaptions	(666		)		1,325				—				—

	Total	$	(17,037	)		$	331,687			$	5,276			$	(208,769	)



		Nine Months Ended September 30,
		2014								2013
		Net Realized Gain (Loss) on Investments				Net Change in Unrealized Appreciation (Depreciation) on Investments				Net Realized Gain (Loss) on Investments				Net Change in Unrealized Appreciation (Depreciation) on Investments
	Foreign currency forward contracts	$	(106,223	)		$	342,592			$	28,934			$	(38,598	)

	Total-return, credit-default and interest-rate swaps	41,086				(36,290		)		2,648				44,396

	Options and futures	(22,395		)		41				(8,681		)		2,762

	Swaptions	(666		)		(3,987		)		—				—

	Total	$	(88,198	)		$	302,356			$	22,901			$	8,560


Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	'
	The table below sets forth the setoff rights and related arrangements associated with derivative instruments held by the Company. The “gross amounts not offset in statements of financial condition” column represents derivative instruments that are eligible to be offset in accordance with applicable accounting guidance, but for which management has elected not to offset in the condensed consolidated statements of financial condition.


		Gross Amounts of Assets (Liabilities)				Gross Amounts Offset in Assets (Liabilities)				Net Amounts of Assets (Liabilities) Presented				Gross Amounts Not Offset in Statements of Financial Condition								Net Amount
	As of September 30, 2014													Derivative Assets (Liabilities)				Cash Collateral Received (Pledged)
	Derivative Assets:
	Foreign currency forward contracts	$	20,360			$	—			$	20,360			$	4,157			$	—			$	16,203

	Derivative assets of consolidated funds:
	Foreign currency forward contracts	312,939				—				312,939				47,035				—				265,904

	Total-return, credit-default and interest-rate swaps	18,843				—				18,843				14,031				—				4,812

	Options and futures	30,972				—				30,972				11,075				—				19,897

	Swaptions	1,530				—				1,530				1,530				—				—

	Subtotal	364,284				—				364,284				73,671				—				290,613

	Total	$	384,644			$	—			$	384,644			$	77,828			$	—			$	306,816


	Derivative Liabilities:
	Foreign currency forward contracts	$	(1,636	)		$	—			$	(1,636	)		$	(1,636	)		$	—			$	—

	Interest-rate swaps	(2,521		)		—				(2,521		)		(2,521		)		—				—

	Subtotal	(4,157		)		—				(4,157		)		(4,157		)		—				—

	Derivative liabilities of consolidated funds:
	Foreign currency forward contracts	(48,247		)		—				(48,247		)		(46,662		)		—				(1,585		)

	Total-return, credit-default and interest-rate swaps	(42,947		)		—				(42,947		)		(22,046		)		(17,169		)		(3,732		)

	Options and futures	(4,597		)		—				(4,597		)		(4,391		)		(206		)		—

	Swaptions	(572		)		—				(572		)		(572		)		—				—

	Subtotal	(96,363		)		—				(96,363		)		(73,671		)		(17,375		)		(5,317		)

	Total	$	(100,520	)		$	—			$	(100,520	)		$	(77,828	)		$	(17,375	)		$	(5,317	)



		Gross Amounts of Assets (Liabilities)				Gross Amounts Offset in Assets (Liabilities)				Net Amounts of Assets (Liabilities) Presented				Gross Amounts Not Offset in Statements of Financial Condition								Net Amount
	As of December 31, 2013													Derivative Assets (Liabilities)				Cash Collateral Received (Pledged)
	Derivative Assets:
	Foreign currency forward contracts	$	7,893			$	—			$	7,893			$	5,951			$	—			$	1,942

	Total-return swaps	4,515				—				4,515				—				—				4,515

	Subtotal	12,408				—				12,408				5,951				—				6,457

	Derivative assets of consolidated funds:
	Foreign currency forward contracts	51,765				—				51,765				31,223				—				20,542

	Total-return, credit-default and interest-rate swaps	18,318				—				18,318				483				—				17,835

	Options and futures	18,138				—				18,138				—				—				18,138

	Swaptions	6,716				—				6,716				1,324				—				5,392

	Subtotal	94,937				—				94,937				33,030				—				61,907

Total	$	107,345			$	—			$	107,345			$	38,981			$	—			$	68,364


Derivative Liabilities:
Foreign currency forward contracts	$	(6,141	)		$	—			$	(6,141	)		$	(4,466	)		$	—			$	(1,675	)

Interest-rate swaps	(4,171		)		—				(4,171		)		(1,485		)		—				(2,686		)

Subtotal	(10,312		)		—				(10,312		)		(5,951		)		—				(4,361		)

Derivative liabilities of consolidated funds:
Foreign currency forward contracts	(135,246		)		—				(135,246		)		(31,223		)		(11,583		)		(92,440		)

Total-return, credit-default and interest-rate swaps	(7,096		)		—				(7,096		)		(483		)		(4,358		)		(2,255		)

Options and futures	(6,214		)		—				(6,214		)		—				(3,067		)		(3,147		)

Swaptions	(1,324		)		—				(1,324		)		(1,324		)		—				—

Subtotal	(149,880		)		—				(149,880		)		(33,030		)		(19,008		)		(97,842		)

Total	$	(160,192	)		$	—			$	(160,192	)		$	(38,981	)		$	(19,008	)		$	(102,203	)

DEBT_OBLIGATIONS_AND_CREDIT_FA1

DEBT OBLIGATIONS AND CREDIT FACILITIES (Tables)	9 Months Ended
	Sep. 30, 2014
Debt Disclosure [Abstract]	'
Debt Obligations	'
	The Company’s debt obligations are set forth below:


		As of
		September 30,		December 31,
		2014		2013
	$75,000, 5.03%, issued in June 2004, payable in seven equal annual installments starting June 14, 2008	$	—	$	10,714

	$50,000, 6.09%, issued in June 2006, payable on June 6, 2016	50,000		50,000

	$50,000, 5.82%, issued in November 2006, payable on November 8, 2016	50,000		50,000

	$250,000, 6.75%, issued in November 2009, payable on December 2, 2019	250,000		250,000

	$250,000, variable rate term loan issued in December 2012, payable 2.5% per quarter through September 2017, final $125,000 payment on December 21, 2017, prepaid in March 2014	—		218,750

	$250,000, rate as described below, term loan issued in March 2014, payable on March 31, 2019	250,000		—

	$50,000, 3.91%, issued in September 2014, payable on September 3, 2024	50,000		—

	$100,000, 4.01%, issued in September 2014, payable on September 3, 2026	100,000		—

	$100,000, 4.21%, issued in September 2014, payable on September 3, 2029	100,000		—

	Total remaining principal	$	850,000	$	579,464

Future Principal Payments of Debt Obligations	'
	Future scheduled principal payments with respect to the CLO loans payable as of September 30, 2014 were as follows:


	Remainder of 2014	$	—

	2015	—

	2016	—

	2017	—

	2018	74,676

	Thereafter	903,850

	Total	$	978,526

	Future scheduled principal payments of debt obligations as of September 30, 2014 were as follows:


	Remainder of 2014	$	—

	2015	—

	2016	100,000

	2017	—

	2018	—

	Thereafter	750,000

	Total	$	850,000

Revolving Bank Credit Facilities and Term Loans Outstanding of Consolidated Funds	'
	The consolidated funds had the following revolving credit facilities and term loans outstanding:


	Credit Agreement	Outstanding Amount as of				Facility Capacity			LIBOR	Maturity	Commitment Fee Rate	L/C Fee (2)
		September 30,		December 31,					Margin (1)
		2014		2013
	Credit facility (3)	$	434,000	$	434,000	$	435,000		1.45%	11/14/18	N/A	N/A

	Senior variable rate notes (3)	249,500		249,500		$	249,500		1.55%	10/20/22	N/A	N/A

	Senior variable rate notes (3)	499,221		498,916		$	500,000		1.20%	4/20/23	N/A	N/A

	Senior variable rate notes (3)	402,410		402,375		$	402,500		1.20%	7/20/23	N/A	N/A

	Senior variable rate notes (3)	64,500		64,500		$	64,500		1.65%	7/20/23	N/A	N/A

	Senior variable rate notes (3)	420,000		—		$	420,000		1.47%	8/15/15	N/A	N/A

	Senior variable rate notes (3)	84,316		—		$	86,000		2.10%	8/15/15	N/A	N/A

	Credit facility (3)(4)	—		—		$	650,000		1.25%	4/11/17	N/A	N/A

	Revolving credit facility	198,551		—		$	350,000		2.50%	8/14/15	0.25%	2.00%

	Revolving credit facility	500,000		400,000		$	500,000		1.60%	6/26/15	0.25%	N/A

	Revolving credit facility	85,200		67,000		$	150,000		1.75%	12/15/14	0.35%	N/A

	Revolving credit facility	27,325		—		$	125,000		1.75%	5/20/15	0.35%	N/A

	Revolving credit facility	35,000		—		$	55,000		2.00%	12/15/15	0.35%	2.00%

	Revolving credit facility	—		—		$	40,000		1.50%	12/5/14	0.30%	1.50%

	Euro-denominated revolving credit facility	676,287		13,090		€	550,000		1.65%	2/25/16	0.25%	1.65%

	Euro-denominated revolving credit facility	77,135		—		€	100,000		1.95%	2/2/16	0.40%	1.95%

	Revolving credit facility	—		2,800		$	10,000		2.25%	9/1/14	0.38%	N/A

	Revolving credit facility	100,000		165,000		$	350,000		1.65%	3/22/15	0.25%	N/A

	Revolving credit facility	120,200		—		$	150,000		1.60%	1/16/17	0.25%	1.60%

	Revolving credit facility	28,850		—		$	35,000		1.50%	12/11/15	0.20%	N/A

	Revolving credit facility	58,265		—		$	61,000		2.95%	3/15/19	N/A	N/A

	Revolving credit facility	70,719		—		$	70,000		3.58%	6/19/15	N/A	N/A

	Revolving credit facility	—		—		$	100,000		1.60%	9/8/16	0.25%	2.00%

	Credit facility (5)	194,025		—		$	194,025		2.04%	Various	N/A	N/A

		$	4,325,504	$	2,297,181





	-1	The facilities bear interest, at the borrower’s option, at (a) an annual rate of LIBOR plus the applicable margin or (b) an alternate base rate, as defined in the respective credit agreement.

	-2	Certain facilities allow for the issuance of letters of credit at an applicable annual fee. As of September 30, 2014 and December 31, 2013, outstanding standby letters of credit totaled $42,881 and $55,954, respectively.

-3	The credit facility is collateralized by the portfolio investments and cash and cash-equivalents of the fund.

-4	The LIBOR margin is 1.25% through April 11, 2015, and 2.50% thereafter.

-5	The credit facility is collateralized by specific investments of the fund. Of the total balance outstanding, $162.1 million matures on March 11, 2015 and the remaining $31.9 million matures on February 11, 2016.
Schedule of Collateralized Loan Obligation	'
	The table below sets forth the outstanding loans payable of the CLOs.


		As of September 30, 2014
		Outstanding Borrowings		Fair Value (1)		Weighted Average Interest Rate		Weighted Average Remaining Maturity (years)
	Senior secured notes (2)	$	456,433	$	458,856	2.25%		10.5

	Senior secured notes (3)	74,676		74,676		2.59%		4.3

	Senior secured notes (4)	422,785		417,317		2.58%		13

	Subordinated note (5)	24,632		24,632		N/A		13

		$	978,526	$	975,481





	-1	The debt obligations of the CLOs are Level III valuations and were valued using prices obtained from pricing vendors or recent transactions. Financial instruments that are valued using quoted prices for the subject or similar securities are generally classified as Level III because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities, or may require adjustment for investment-specific factors or restrictions. Financial instruments that are valued based on recent transactions are generally defined as securities purchased or sold within six months of the valuation date. The fair value may also be based on a pending transaction expected to close after the valuation date.

	-2	The weighted average interest rate was LIBOR plus 2.01%.

	-3	The interest rate was LIBOR plus a margin determined based on a formula as defined in the respective borrowing agreements, which incorporate different borrowing values based on the characteristics of collateral investments purchased. The weighted average unused commitment fee rate ranged from 0% to 2.0%.

	-4	The weighted average interest rate was EURIBOR plus 2.21%.

	-5	The subordinated note does not have a contractual interest rate; instead, it receives distributions from the excess cash flows generated by the CLO. The carrying value approximates fair value due to the recent issuance date.

NONCONTROLLING_REDEEMABLE_INTE1

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS (Tables)	9 Months Ended
	Sep. 30, 2014
Non-Controlling Redeemable Interests in Consolidated Funds [Abstract]	'
Summary of Changes in Non-controlling Redeemable Interests in Consolidated Funds	'
	The following table sets forth a summary of changes in the non-controlling redeemable interests in the consolidated funds. Dividends reinvested and in-kind contributions or distributions are non-cash in nature and have been grossed up in the table below.


		Nine Months Ended September 30,
		2014			2013
	Beginning balance	$	38,834,831		$	39,670,831

	Contributions	7,250,262			4,613,588

	Distributions	(5,971,132		)	(10,033,373		)
	Net income	1,842,779			3,743,327

	Change in distributions payable	(944		)	234,409

	Change in accrued or deferred contributions	(7,000		)	3,525

	Initial consolidation of a fund	902,979			—

	Foreign currency translation and other	(388,447		)	97,605

	Ending balance	$	42,463,328		$	38,329,912

UNITHOLDERS_CAPITAL_Tables

UNITHOLDERS' CAPITAL (Tables)	9 Months Ended
	Sep. 30, 2014
Stockholders' Equity Note [Abstract]	'
Summary of Net Income (Loss)	'
	The following table sets forth a summary of the net income attributable to the OCGH unitholders' non-controlling interest and to the Class A unitholders:


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2014			2013			2014			2013
	Weighted average Oaktree Operating Group units outstanding (in thousands):
	OCGH non-controlling interest	109,329			112,791			110,362			117,103

	Class A unitholders	43,480			38,239			42,234			33,845

	Total weighted average units outstanding	152,809			151,030			152,596			150,948

	Oaktree Operating Group net income:

	Net income attributable to OCGH non-controlling interest	$	64,683		$	129,408		$	320,054		$	617,191

	Net income attributable to Class A unitholders	25,725			43,875			119,957			172,631

	Oaktree Operating Group net income (1)	$	90,408		$	173,283		$	440,011		$	789,822

	Net income attributable to Oaktree Capital Group, LLC:

	Oaktree Operating Group net income attributable to Class A unitholders	$	25,725		$	43,875		$	119,957		$	172,631

	Non-Operating Group expenses	(264		)	(271		)	(1,149		)	(947		)
	Income tax expense of Intermediate Holding Companies	(6,548		)	(656		)	(16,915		)	(14,593		)
	Net income attributable to Oaktree Capital Group, LLC	$	18,913		$	42,948		$	101,893		$	157,091




	(1) Oaktree Operating Group net income attributable to other non-controlling interests was $2,868.
Changes in Company Ownership Interest	'
	The effects of changes in the Company’s ownership interest in the Oaktree Operating Group are set forth below:


		Three Months Ended						Nine Months Ended
		September 30,						September 30,
		2014			2013			2014			2013

	Net income attributable to Oaktree Capital Group, LLC	$	18,913		$	42,948		$	101,893		$	157,091

	Equity reallocation between controlling and non-controlling interests	(391		)	(160		)	48,725			76,685

	Change from net income attributable to Oaktree Capital Group, LLC and transfers from (to) non-controlling interest	$	18,522		$	42,788		$	150,618		$	233,776

EARNINGS_PER_UNIT_Tables

EARNINGS PER UNIT (Tables)	9 Months Ended
	Sep. 30, 2014
Earnings Per Share [Abstract]	'
Computations of Net Income (Loss) Per Unit	'
	The computations of net income per Class A unit are set forth below:


		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2014		2013		2014		2013
	Weighted average units outstanding:	(in thousands, except per unit amounts)
	Class A units outstanding	43,480		38,239		42,234		33,845

	OCGH units exchangeable into Class A units (1)	—		—		—		—

	Total weighted average units outstanding	43,480		38,239		42,234		33,845

	Net income per Class A unit:

	Net income	$	18,913	$	42,948	$	101,893	$	157,091

	Weighted average units outstanding	43,480		38,239		42,234		33,845

	Basic and diluted net income per Class A unit	$	0.43	$	1.12	$	2.41	$	4.64





	-1	Vested OCGH units are potentially exchangeable on a one-for-one basis into Class A units. As of September 30, 2014, there were 109,372,950 OCGH units outstanding, accordingly, the Company may cumulatively issue up to 109,372,950 additional Class A units through August 1, 2024 if all such units were exchanged. For all periods presented, OCGH units have been excluded from the calculation of diluted earnings per unit because the exchange of these units would proportionally increase Oaktree Capital Group, LLC’s interest in the Oaktree Operating Group and could have an anti-dilutive effect on earnings per unit to the extent that tax-related or other expenses were incurred by the Company as a result of the exchange.

EQUITYBASED_COMPENSATION_Table

EQUITY-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2014
Share-based Compensation [Abstract]	'
Summary of Unvested Equity-Based Awards and Changes	'
	A summary of the status of the Company’s unvested equity-based awards as of September 30, 2014 and a summary of changes for the nine months then ended are presented below (actual dollars per unit):


		Class A Units				OCGH Units
		Number of Units		Weighted Average Grant Date Fair Value		Number of Units		Weighted Average Grant Date Fair Value
	Balance, December 31, 2013	16,582		$	45.34	4,465,722		$	30.3

	Granted	7,164		58.88		1,770,418		43.98

	Vested	(4,697	)	44.54		(1,073,170	)	24.63

	Forfeited	—		—		(55,978	)	34.42

	Balance, September 30, 2014	19,049		$	50.63	5,106,992		$	36.19

Schedule of Unvested Units Expected to Vest	'
	As of September 30, 2014, unvested units were expected to vest as follows:


		Number of		Weighted
		Units		Average
				Remaining
				Service Term
				(Years)
	Class A units	19,049		3

	OCGH units	5,106,992		4.8

RELATEDPARTY_TRANSACTIONS_Tabl

RELATED-PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Amounts Due from and Due to Affiliates	'
	The fair value of amounts due to affiliates approximated $168,386 and $123,497 as of September 30, 2014 and December 31, 2013, respectively, based on a discount rate of 10.0%.


		As of
		September 30,		December 31,
		2014		2013
	Due from affiliates:
	Loans	$	40,872	$	41,095

	Amounts due from non-consolidated funds	1,655		1,220

	Payments made on behalf of non-consolidated entities	3,559		3,272

	Non-interest bearing advances made to certain non-controlling interest holders and employees	1,686		2,187

	Total due from affiliates	$	47,772	$	47,774

	Due to affiliates:

	Due to OCGH unitholders in connection with the tax receivable agreement (please see note 12)	$	320,940	$	240,911

	Amounts due to senior executives, certain non-controlling interest holders and employees	490		2,075

	Total due to affiliates	$	321,430	$	242,986

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	9 Months Ended
SEGMENT REPORTING (Tables)	Sep. 30, 2014
Segment Reporting [Abstract]	'
Adjusted Net Income	'
	ANI was as follows:


		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2014				2013				2014			2013
	Revenues:
	Revenues:
	Management fees	$	194,509			$	185,580			$	572,028		$	552,281
	Management fees	$	194,509			$	185,580			$	572,028		$	552,281
	Incentive income	86,324				122,424				438,398			787,665
	Incentive income	86,324				122,424				438,398			787,665
	Investment income (loss)	(2,361		)		53,558				98,318			170,184
	Investment income (loss)	(2,361		)		53,558				98,318			170,184
	Total revenues	278,472				361,562				1,108,744			1,510,130
	Total revenues	278,472				361,562				1,108,744			1,510,130
	Expenses:
	Expenses:
	Compensation and benefits	(99,402		)		(95,561		)		(290,234		)	(279,344		)
	Equity-based compensation	(5,185		)		(1,070		)		(14,279		)	(2,646		)
	Incentive income compensation	(39,814		)		(49,222		)		(207,789		)	(308,446		)
	General and administrative	(29,687		)		(27,389		)		(91,380		)	(80,889		)
	Depreciation and amortization	(1,914		)		(1,791		)		(5,650		)	(5,266		)
	Total expenses	(176,002		)		(175,033		)		(609,332		)	(676,591		)
	Adjusted net income before interest and other income (expense)	102,470				186,529				499,412			833,539
		102,470				186,529				499,412			833,539
	Interest expense, net of interest income (1)	(7,419		)		(7,074		)		(20,978		)	(21,617		)
	Other income (expense), net	10				148				(1,679		)	412
	Other income (expense), net	10				148				(1,679		)	412
	Adjusted net income	$	95,061			$	179,603			$	476,755		$	812,334
	Adjusted net income	$	95,061			$	179,603			$	476,755		$	812,334




	-1	Interest income was $0.9 million for both the three months ended September 30, 2014 and 2013, respectively, and $2.7 million and $2.4 million for the nine months ended September 30, 2014 and 2013, respectively.
Reconciliation of Net Income (Loss) Attributable to Oaktree Capital Group, LLC to Adjusted Net Income	'
	A reconciliation of net income attributable to Oaktree Capital Group, LLC to adjusted net income of the investment management segment is presented below.


		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2014				2013				2014			2013
	Net income attributable to Oaktree Capital Group, LLC	$	18,913			$	42,948			$	101,893		$	157,091
	Net income attributable to Oaktree Capital Group, LLC	$	18,913			$	42,948			$	101,893		$	157,091
	Incentive income (1)	(3,234		)		—				55,124			—
	Incentive income (1)	(3,234		)		—				55,124			—
	Incentive income compensation (1)	3,234				—				(36,988		)	—
	Incentive income compensation (1)	3,234				—				(36,988		)	—
	Equity-based compensation (2)	5,372				6,250				15,947			18,231
	Equity-based compensation (2)	5,372				6,250				15,947			18,231
	Amortization of intangibles (3)	488				—				488			—
	Amortization of intangibles (3)	488				—				488			—
	Income taxes (4)	5,341				726				19,088			18,874
	Income taxes (4)	5,341				726				19,088			18,874
	Non-Operating Group expenses (5)	264				271				1,149			947
	Non-Operating Group expenses (5)	264				271				1,149			947
	OCGH non-controlling interest (5)	64,683				129,408				320,054			617,191
	OCGH non-controlling interest (5)	64,683				129,408				320,054			617,191
	Adjusted net income	$	95,061			$	179,603			$	476,755		$	812,334
	Adjusted net income	$	95,061			$	179,603			$	476,755		$	812,334




	-1	This adjustment adds back the effect of timing differences associated with the recognition of incentive income and incentive income compensation expense between adjusted net income and net income attributable to OCG. There were no adjustments attributable to timing differences for the three and nine months ended September 30, 2013.

	-2	This adjustment adds back the effect of equity-based compensation charges related to unit grants made before the Company’s initial public offering, which is excluded from adjusted net income because it is a non-cash charge that does not affect the Company’s financial position.

	-3	This adjustment adds back acquisition-related amortization of intangibles.

	-4	Because adjusted net income is a pre-tax measure, this adjustment eliminates the effect of income tax expense from adjusted net income.

	-5	Because adjusted net income is calculated at the Operating Group level, this adjustment adds back the effect of items applicable to OCG, its Intermediate Holding Companies or the OCGH non-controlling interest.
Schedule of Reconciliation of Total Segments to Income Loss Attributable to Oaktree Capital Group, LLC and Total Assets	'
	The following tables reconcile the Company’s segment information to the condensed consolidated financial statements:


		As of or for the Three Months Ended September 30, 2014
		Segment				Adjustments				Consolidated
	Management fees (1)	$	194,509			$	(140,266	)		$	54,243
	Management fees (1)	$	194,509			$	(140,266	)		$	54,243
	Incentive income (1)	86,324				(86,324		)		—
	Incentive income (1)	86,324				(86,324		)		—
	Investment income (loss) (1)	(2,361		)		8,129				5,768
	Investment income (loss) (1)	(2,361		)		8,129				5,768
	Total expenses (2)	(176,002		)		(76,399		)		(252,401		)
	Interest expense, net (3)	(7,419		)		(27,145		)		(34,564		)
	Other income, net (4)	10				2,685				2,695
	Other income, net (4)	10				2,685				2,695
	Other income (loss) of consolidated funds (5)	—				(349,360		)		(349,360		)
	Other income (loss) of consolidated funds (5)	—				(349,360		)		(349,360		)
	Income taxes	—				(5,341		)		(5,341		)
	Income taxes	—				(5,341		)		(5,341		)
	Net loss attributable to non-controlling interests in consolidated funds	—				665,424				665,424
		—				665,424				665,424
	Net income attributable to non-controlling interests in consolidated subsidiaries	—				(67,551		)		(67,551		)
		—				(67,551		)		(67,551		)
	Adjusted net income/net income attributable to Oaktree Capital Group, LLC	$	95,061			$	(76,148	)		$	18,913
		$	95,061			$	(76,148	)		$	18,913
	Corporate investments (6)	$	1,465,211			$	(1,324,475	)		$	140,736
	Corporate investments (6)	$	1,465,211			$	(1,324,475	)		$	140,736
	Total assets (7)	$	3,245,514			$	49,401,937			$	52,647,451
	Total assets (7)	$	3,245,514			$	49,401,937			$	52,647,451




	-1	The adjustment represents the elimination of amounts earned from the consolidated funds.

	-2	The expense adjustment consists of (a) equity-based compensation charges of $5,372 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $64,356, (c) expenses incurred by the Intermediate Holding Companies of $264, (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $3,234, (e) acquisition-related amortization of intangibles of $488 and (f) adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP of $2,685.

	-3	The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income.

	-4	The adjustment to other income, net represents adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP.

	-5	The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to non-controlling interests of the consolidated funds.

	-6	The adjustment to corporate investments is to remove from segment assets the Company’s investments in the consolidated funds, including investments in its CLOs, that are treated as equity- or cost-method investments for segment reporting. Of the $1.5 billion, equity-method investments accounted for $1.3 billion.

	-7	The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable.


		As of or for the Three Months Ended September 30, 2013
		Segment				Adjustments				Consolidated
	Management fees (1)	$	185,580			$	(128,794	)		$	56,786
	Management fees (1)	$	185,580			$	(128,794	)		$	56,786
	Incentive income (1)	122,424				(122,424		)		—
	Incentive income (1)	122,424				(122,424		)		—
	Investment income (1)	53,558				(42,090		)		11,468
	Investment income (1)	53,558				(42,090		)		11,468
	Total expenses (2)	(175,033		)		(39,125		)		(214,158		)
	Interest expense, net (3)	(7,074		)		(10,263		)		(17,337		)
	Other income, net	148				—				148
	Other income, net	148				—				148
	Other income of consolidated funds (4)	—				1,253,050				1,253,050
	Other income of consolidated funds (4)	—				1,253,050				1,253,050
	Income taxes	—				(726		)		(726		)
	Income taxes	—				(726		)		(726		)
Net income attributable to non-controlling interests in consolidated funds	—				(916,875		)		(916,875		)
	—				(916,875		)		(916,875		)
Net income attributable to non-controlling interests in consolidated subsidiaries	—				(129,408		)		(129,408		)
	—				(129,408		)		(129,408		)
Adjusted net income/net income attributable to Oaktree Capital Group, LLC	$	179,603			$	(136,655	)		$	42,948
	$	179,603			$	(136,655	)		$	42,948
Corporate investments (5)	$	1,100,500			$	(1,009,820	)		$	90,680
Corporate investments (5)	$	1,100,500			$	(1,009,820	)		$	90,680
Total assets (6)	$	2,649,360			$	42,051,821			$	44,701,181
Total assets (6)	$	2,649,360			$	42,051,821			$	44,701,181




-1	The adjustment represents the elimination of amounts earned from the consolidated funds.

-2	The expense adjustment consists of (a) equity-based compensation charges of $6,250 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $32,604 and (c) expenses incurred by the Intermediate Holding Companies of $271.

-3	The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income.

-4	The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to non-controlling interests of the consolidated funds.

-5	The adjustment to corporate investments is to remove from segment assets the Company’s investments in the consolidated funds that are treated as equity-method investments for segment reporting.

-6	The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable.






	As of or for the Nine Months Ended September 30, 2014
	Segment				Adjustments				Consolidated
Management fees (1)	$	572,028			$	(425,794	)		$	146,234
Management fees (1)	$	572,028			$	(425,794	)		$	146,234
Incentive income (1)	438,398				(438,398		)		—
Incentive income (1)	438,398				(438,398		)		—
Investment income (1)	98,318				(83,169		)		15,149
Investment income (1)	98,318				(83,169		)		15,149
Total expenses (2)	(609,332		)		(116,773		)		(726,105		)
Interest expense, net (3)	(20,978		)		(63,285		)		(84,263		)
Other income (expense), net (4)	(1,679		)		2,685				1,006
Other income (expense), net (4)	(1,679		)		2,685				1,006
Other income of consolidated funds (5)	—				2,935,534				2,935,534
Other income of consolidated funds (5)	—				2,935,534				2,935,534
Income taxes	—				(19,088		)		(19,088		)
Income taxes	—				(19,088		)		(19,088		)
Net income attributable to non-controlling interests in consolidated funds	—				(1,843,652		)		(1,843,652		)
	—				(1,843,652		)		(1,843,652		)
Net income attributable to non-controlling interests in consolidated subsidiaries	—				(322,922		)		(322,922		)
	—				(322,922		)		(322,922		)
Adjusted net income/net income attributable to Oaktree Capital Group, LLC	$	476,755			$	(374,862	)		$	101,893
	$	476,755			$	(374,862	)		$	101,893
Corporate investments (6)	$	1,465,211			$	(1,324,475	)		$	140,736
Corporate investments (6)	$	1,465,211			$	(1,324,475	)		$	140,736
Total assets (7)	$	3,245,514			$	49,401,937			$	52,647,451
Total assets (7)	$	3,245,514			$	49,401,937			$	52,647,451




-1	The adjustment represents the elimination of amounts earned from the consolidated funds.

-2	The expense adjustment consists of (a) equity-based compensation charges of $15,947 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $133,492, (c) expenses incurred by the Intermediate Holding Companies of $1,149, (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $36,988, (e) acquisition-related amortization of intangibles of $488 and (f) adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP of $2,685.

-3	The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income.

-4	The adjustment to other income (expense), net represents adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP.

-5	The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to non-controlling interests of the consolidated funds.

-6	The adjustment to corporate investments is to remove from segment assets the Company’s investments in the consolidated funds, including investments in its CLOs, that are treated as equity- or cost-method investments for segment reporting. Of the $1.5 billion, equity-method investments accounted for $1.3 billion.

-7	The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable.


	As of or for the Nine Months Ended September 30, 2013
	Segment				Adjustments				Consolidated
Management fees (1)	$	552,281			$	(402,859	)		$	149,422
Management fees (1)	$	552,281			$	(402,859	)		$	149,422
Incentive income (1)	787,665				(785,348		)		2,317
Incentive income (1)	787,665				(785,348		)		2,317
Investment income (1)	170,184				(147,584		)		22,600
Investment income (1)	170,184				(147,584		)		22,600
Total expenses (2)	(676,591		)		(98,612		)		(775,203		)
Interest expense, net (3)	(21,617		)		(21,314		)		(42,931		)
Other income, net	412				—				412
Other income, net	412				—				412
Other income of consolidated funds (4)	—				5,179,866				5,179,866
Other income of consolidated funds (4)	—				5,179,866				5,179,866
Income taxes	—				(18,874		)		(18,874		)
Income taxes	—				(18,874		)		(18,874		)
Net income attributable to non-controlling interests in consolidated funds	—				(3,743,327		)		(3,743,327		)
	—				(3,743,327		)		(3,743,327		)
Net income attributable to non-controlling interests in consolidated subsidiaries	—				(617,191		)		(617,191		)
	—				(617,191		)		(617,191		)
Adjusted net income/net income attributable to Oaktree Capital Group, LLC	$	812,334			$	(655,243	)		$	157,091
	$	812,334			$	(655,243	)		$	157,091
Corporate investments (5)	$	1,100,500			$	(1,009,820	)		$	90,680
Corporate investments (5)	$	1,100,500			$	(1,009,820	)		$	90,680
Total assets (6)	$	2,649,360			$	42,051,821			$	44,701,181
Total assets (6)	$	2,649,360			$	42,051,821			$	44,701,181




-1	The adjustment represents the elimination of amounts earned from the consolidated funds.

-2	The expense adjustment consists of (a) equity-based compensation charges of $18,231 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $79,434 and (c) expenses incurred by the Intermediate Holding Companies of $947.

-3	The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income.

-4	The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to non-controlling interests of the consolidated funds.

-5	The adjustment to corporate investments is to remove from segment assets the Company’s investments in the consolidated funds that are treated as equity-method investments for segment reporting.

-6	The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable.

ORGANIZATION_AND_BASIS_OF_PRES1

ORGANIZATION AND BASIS OF PRESENTATION (Details)	9 Months Ended
	Sep. 30, 2014
	vote
	partnership_interest
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Limited Liability Company (LLC) ownership interest (as a percent)	100.00%
Number of partnership interests	1
Number of votes per Class B Unit	10
Number of votes Per Class A Unit	1

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
	entity	entity
Variable Interest Entity, Primary Beneficiary	'	'
Variable Interest Entity [Line Items]	'	'
Number of variable interest entities that are consolidated	6	2
Assets	$1,300,000,000	'
Liabilities	1,100,000,000	'
Maximum risk of loss	$126,100,000	'
Variable Interest Entity, Primary Beneficiary \| Remaining Variable Interest Entities	'	'
Variable Interest Entity [Line Items]	'	'
Number of variable interest entities that are consolidated	5	'
Variable Interest Entity, Primary Beneficiary \| CLO not Priced	'	'
Variable Interest Entity [Line Items]	'	'
Number of variable interest entities that are consolidated	3	'
Contractual Rights to Earn Future Fee Income \| Minimum	'	'
Variable Interest Entity [Line Items]	'	'
Estimated useful lives in years	'3 years	'
Contractual Rights to Earn Future Fee Income \| Maximum	'	'
Variable Interest Entity [Line Items]	'	'
Estimated useful lives in years	'7 years	'

BUSINESS_COMBINATIONS_Details

BUSINESS COMBINATIONS (Details) (Highstar Capital, USD $)	0 Months Ended
In Millions, except Share data, unless otherwise specified	Aug. 01, 2014	Jul. 31, 2014
Business Acquisition [Line Items]	'	'
Cash	$31.40	'
OCGH Units (in shares)	100,595	'
Contingent consideration	60	'
Goodwill	'	50.8
Intangible assets	'	28
Acquisition of non-controlling interests related to the Highstar acquisition	'	72.2
Maximum	'	'
Business Acquisition [Line Items]	'	'
Contingent consideration	$60	'

INVESTMENTS_AT_FAIR_VALUE_Inve

INVESTMENTS, AT FAIR VALUE - Investments, at Fair Value (Detail) (USD $)	Sep. 30, 2014	Feb. 28, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Feb. 28, 2014	Dec. 31, 2013
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Total investments, at fair value	$45,304,349	$312,900	$39,911,888
Total investments, at fair value, Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	100.00%	'	100.00%
Debt securities:	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	18,042,302	'	17,720,189
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	39.80%	'	44.40%
Equity securities:	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	27,262,047	'	22,191,699
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	60.20%	'	55.60%
Securities sold short b equities	-89,869	'	-140,251
United States: \| Debt securities:	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	12,423,415	'	12,089,569
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	27.40%	'	30.30%
United States: \| Debt securities: \| Consumer discretionary	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	2,884,039	'	3,017,755
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	6.40%	'	7.60%
United States: \| Debt securities: \| Consumer staples	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	585,963	'	801,959
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.30%	'	2.00%
United States: \| Debt securities: \| Energy	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	909,878	'	650,336
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.00%	'	1.60%
United States: \| Debt securities: \| Financials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	613,796	'	554,115
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.40%	'	1.40%
United States: \| Debt securities: \| Government	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	145,965	'	0
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	'	0.00%
United States: \| Debt securities: \| Health care	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	1,002,629	'	600,570
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.20%	'	1.50%
United States: \| Debt securities: \| Industrials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	1,798,894	'	1,768,600
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	4.00%	'	4.40%
United States: \| Debt securities: \| Information technology	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	1,142,531	'	1,130,614
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.50%	'	2.80%
United States: \| Debt securities: \| Materials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	1,501,061	'	1,094,476
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.30%	'	2.70%
United States: \| Debt securities: \| Telecommunication services	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	325,599	'	289,046
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.70%	'	0.70%
United States: \| Debt securities: \| Utilities	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	1,513,060	'	2,182,098
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.30%	'	5.60%
United States: \| Equity securities:	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	16,724,918	'	14,240,613
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	36.90%	'	35.70%
United States: \| Equity securities: \| Consumer discretionary	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	2,709,327	'	3,164,000
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	6.00%	'	7.90%
United States: \| Equity securities: \| Consumer staples	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	530,953	'	482,521
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.20%	'	1.20%
United States: \| Equity securities: \| Energy	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	1,721,697	'	570,839
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.80%	'	1.40%
United States: \| Equity securities: \| Financials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	7,075,077	'	6,474,365
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	15.60%	'	16.30%
United States: \| Equity securities: \| Health care	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	263,805	'	310,582
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.60%	'	0.80%
United States: \| Equity securities: \| Industrials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	2,940,799	'	1,840,900
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	6.50%	'	4.60%
United States: \| Equity securities: \| Information technology	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	229,594	'	227,608
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.50%	'	0.60%
United States: \| Equity securities: \| Materials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	951,037	'	923,933
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.10%	'	2.30%
United States: \| Equity securities: \| Telecommunication services	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	31,600	'	51,881
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	'	0.10%
United States: \| Equity securities: \| Utilities	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	271,029	'	193,984
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.60%	'	0.50%
Europe: \| Debt securities:	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	3,804,086	'	3,885,082
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	8.40%	'	9.70%
Europe: \| Debt securities: \| Consumer discretionary	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	1,454,743	'	1,519,530
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.20%	'	3.80%
Europe: \| Debt securities: \| Consumer staples	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	187,613	'	159,489
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.40%	'	0.40%
Europe: \| Debt securities: \| Energy	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	376,966	'	295,942
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.80%	'	0.70%
Europe: \| Debt securities: \| Financials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	696,012	'	612,123
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.50%	'	1.50%
Europe: \| Debt securities: \| Health care	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	92,525	'	39,189
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.20%	'	0.10%
Europe: \| Debt securities: \| Industrials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	347,871	'	378,797
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.80%	'	1.00%
Europe: \| Debt securities: \| Information technology	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	47,921	'	22,216
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	'	0.10%
Europe: \| Debt securities: \| Materials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	463,134	'	663,984
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.00%	'	1.70%
Europe: \| Debt securities: \| Telecommunication services	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	111,857	'	175,231
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	'	0.40%
Europe: \| Debt securities: \| Utilities	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	25,444	'	18,581
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	'	0.00%
Europe: \| Equity securities:	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	6,418,706	'	4,526,108
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	14.20%	'	11.30%
Europe: \| Equity securities: \| Consumer discretionary	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	224,628	'	198,045
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.50%	'	0.50%
Europe: \| Equity securities: \| Consumer staples	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	49,204	'	385,595
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	'	1.00%
Europe: \| Equity securities: \| Energy	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	122,805	'	129,207
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	'	0.30%
Europe: \| Equity securities: \| Financials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	4,223,002	'	2,763,198
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	9.30%	'	6.90%
Europe: \| Equity securities: \| Health care	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	54,600	'	13,084
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	'	0.00%
Europe: \| Equity securities: \| Industrials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	1,353,026	'	784,524
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.00%	'	2.00%
Europe: \| Equity securities: \| Information technology	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	2,052	'	1,341
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	'	0.00%
Europe: \| Equity securities: \| Materials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	389,389	'	249,732
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.90%	'	0.60%
Europe: \| Equity securities: \| Telecommunication services	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	0	'	1,382
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	'	0.00%
Asia and other: \| Debt securities:	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	1,814,801	'	1,745,538
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	4.00%	'	4.40%
Asia and other: \| Debt securities: \| Consumer discretionary	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	139,071	'	93,087
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	'	0.20%
Asia and other: \| Debt securities: \| Consumer staples	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	58,411	'	25,424
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	'	0.10%
Asia and other: \| Debt securities: \| Energy	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	163,261	'	74,167
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.40%	'	0.20%
Asia and other: \| Debt securities: \| Financials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	287,028	'	159,369
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.60%	'	0.40%
Asia and other: \| Debt securities: \| Government	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	47,623	'	0
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	'	0.00%
Asia and other: \| Debt securities: \| Health care	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	50,078	'	31,057
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	'	0.10%
Asia and other: \| Debt securities: \| Industrials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	834,675	'	1,247,793
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.80%	'	3.10%
Asia and other: \| Debt securities: \| Information technology	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	23,841	'	21,842
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	'	0.10%
Asia and other: \| Debt securities: \| Materials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	200,514	'	84,107
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.50%	'	0.20%
Asia and other: \| Debt securities: \| Telecommunication services	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	0	'	1,884
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	'	0.00%
Asia and other: \| Debt securities: \| Utilities	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Debt securities:	10,299	'	6,808
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	'	0.00%
Asia and other: \| Equity securities:	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	4,118,423	'	3,424,978
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	9.10%	'	8.60%
Asia and other: \| Equity securities: \| Consumer discretionary	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	656,264	'	422,731
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.50%	'	1.10%
Asia and other: \| Equity securities: \| Consumer staples	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	127,359	'	42,937
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	'	0.10%
Asia and other: \| Equity securities: \| Energy	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	326,006	'	267,494
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.70%	'	0.70%
Asia and other: \| Equity securities: \| Financials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	1,414,268	'	1,211,033
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.10%	'	3.00%
Asia and other: \| Equity securities: \| Health care	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	28,125	'	8,124
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	'	0.00%
Asia and other: \| Equity securities: \| Industrials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	919,351	'	1,136,934
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.00%	'	2.90%
Asia and other: \| Equity securities: \| Information technology	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	333,143	'	130,714
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.70%	'	0.30%
Asia and other: \| Equity securities: \| Materials	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	136,789	'	63,395
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	'	0.20%
Asia and other: \| Equity securities: \| Telecommunication services	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	0	'	17,719
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	'	0.00%
Asia and other: \| Equity securities: \| Utilities	'	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'	'
Equity securities:	$177,118	'	$123,897
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.40%	'	0.30%

INVESTMENTS_AT_FAIR_VALUE_Inve1

INVESTMENTS, AT FAIR VALUE - Investments, at Fair Value (Parenthetical) (Detail) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Schedule Of Investments In Marketable Securities [Line Items]	'	'
Proceeds	$98,188	$137,092
United States:	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'
Debt Securities, Cost	12,661,266	12,008,435
Total equity securities	13,350,827	11,104,484
Europe:	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'
Debt Securities, Cost	3,776,455	3,349,740
Total equity securities	5,780,068	4,111,171
Asia and other:	'	'
Schedule Of Investments In Marketable Securities [Line Items]	'	'
Debt Securities, Cost	1,726,021	1,639,694
Total equity securities	$3,308,870	$2,734,160

INVESTMENTS_AT_FAIR_VALUE_Addi

INVESTMENTS, AT FAIR VALUE - Additional Information (Detail) (USD $)	Sep. 30, 2014	Feb. 28, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	issuer	Feb. 28, 2014	issuer
Investment [Line Items]	'	'	'
Number of issuers	0	'	0
Percentage exceeded consolidated net assets (as a percent)	5.00%	'	'
Total investments, at fair value	$45,304,349	$312,900	$39,911,888

INVESTMENTS_AT_FAIR_VALUE_Net_

INVESTMENTS, AT FAIR VALUE - Net Gains (Losses) from Investment Activities of Consolidated Funds (Detail) (Consolidated Funds, Not Designated as Hedging Instrument, USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Gain (Loss) on Investments [Line Items]	'		'		'		'
Net Realized Gain (Loss) on Investments	$428,267		$766,199		$1,596,596		$2,796,448
Net Change in Unrealized Appreciation (Depreciation) on Investments	-1,638,736		97,773		-168,368		1,007,495
Investments and other financial instruments	'		'		'		'
Gain (Loss) on Investments [Line Items]	'		'		'		'
Net Realized Gain (Loss) on Investments	445,304		760,923		1,684,794		2,773,547
Net Change in Unrealized Appreciation (Depreciation) on Investments	-1,970,423		306,542		-470,724		998,935
Foreign currency forward contracts	'		'		'		'
Gain (Loss) on Investments [Line Items]	'		'		'		'
Net Realized Gain (Loss) on Investments	-12,035	[1]	9,382	[1]	-106,223	[1]	28,934	[1]
Net Change in Unrealized Appreciation (Depreciation) on Investments	346,855	[1]	-222,589	[1]	342,592	[1]	-38,598	[1]
Total-return, credit-default and interest-rate swaps	'		'		'		'
Gain (Loss) on Investments [Line Items]	'		'		'		'
Net Realized Gain (Loss) on Investments	-2,829	[1]	-1,235	[1]	41,086	[1]	2,648	[1]
Net Change in Unrealized Appreciation (Depreciation) on Investments	-22,726	[1]	19,637	[1]	-36,290	[1]	44,396	[1]
Options and futures	'		'		'		'
Gain (Loss) on Investments [Line Items]	'		'		'		'
Net Realized Gain (Loss) on Investments	-1,507	[1]	-2,871	[1]	-22,395	[1]	-8,681	[1]
Net Change in Unrealized Appreciation (Depreciation) on Investments	6,233	[1]	-5,817	[1]	41	[1]	2,762	[1]
Swaptions	'		'		'		'
Gain (Loss) on Investments [Line Items]	'		'		'		'
Net Realized Gain (Loss) on Investments	-666	[2]	0	[2]	-666	[2]	0	[2]
Net Change in Unrealized Appreciation (Depreciation) on Investments	$1,325	[2]	$0	[2]	($3,987)	[2]	$0	[2]

[1]	Please see note 6 for additional information.
[2]	A swaption is an option granting the buyer the right but not the obligation to enter into a swap agreement on a specified future date.

FAIR_VALUE_Financial_Instrumen

FAIR VALUE - Financial Instruments by Fair-value Hierarchy Level (Details) (USD $)	Sep. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014		Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
U.S. Treasury and government-agency securities	$480,362		$676,600
Derivative asset	384,644		107,345
Derivative liabilities	-100,520		-160,192
Fair Value, Measurements, Recurring	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Total assets	500,722		689,008
Total liabilities	-29,716		-10,312
Fair Value, Measurements, Recurring \| U.S. Treasury securities	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
U.S. Treasury and government-agency securities	480,362	[1]	676,600	[1]
Fair Value, Measurements, Recurring \| Forward currency contracts	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative asset	20,360	[2]	7,893	[2]
Derivative liabilities	-1,636	[3]	-6,141	[3]
Fair Value, Measurements, Recurring \| Total-return swap	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative asset	0	[2]	4,515	[2]
Fair Value, Measurements, Recurring \| Contingent consideration	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Contingent consideration	25,559	[3]	0	[3]
Fair Value, Measurements, Recurring \| Interest-rate swaps	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative liabilities	-2,521	[3]	-4,171	[3]
Fair Value, Measurements, Recurring \| Level I	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Total assets	480,362		676,600
Total liabilities	0		0
Fair Value, Measurements, Recurring \| Level I \| U.S. Treasury securities	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
U.S. Treasury and government-agency securities	480,362	[1]	676,600	[1]
Fair Value, Measurements, Recurring \| Level I \| Forward currency contracts	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative asset	0	[2]	0	[2]
Derivative liabilities	0	[3]	0	[3]
Fair Value, Measurements, Recurring \| Level I \| Total-return swap	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative asset	0	[2]	0	[2]
Fair Value, Measurements, Recurring \| Level I \| Contingent consideration	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Contingent consideration	0	[3]	0	[3]
Fair Value, Measurements, Recurring \| Level I \| Interest-rate swaps	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative liabilities	0	[3]	0	[3]
Fair Value, Measurements, Recurring \| Level II	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Total assets	20,360		12,408
Total liabilities	-4,157		-10,312
Fair Value, Measurements, Recurring \| Level II \| U.S. Treasury securities	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
U.S. Treasury and government-agency securities	0	[1]	0	[1]
Fair Value, Measurements, Recurring \| Level II \| Forward currency contracts	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative asset	20,360	[2]	7,893	[2]
Derivative liabilities	-1,636	[3]	-6,141	[3]
Fair Value, Measurements, Recurring \| Level II \| Total-return swap	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative asset	0	[2]	4,515	[2]
Fair Value, Measurements, Recurring \| Level II \| Contingent consideration	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Contingent consideration	0	[3]	0	[3]
Fair Value, Measurements, Recurring \| Level II \| Interest-rate swaps	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative liabilities	-2,521	[3]	-4,171	[3]
Fair Value, Measurements, Recurring \| Level III	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Total assets	0		0
Total liabilities	-25,559		0
Fair Value, Measurements, Recurring \| Level III \| U.S. Treasury securities	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
U.S. Treasury and government-agency securities	0	[1]	0	[1]
Fair Value, Measurements, Recurring \| Level III \| Forward currency contracts	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative asset	0	[2]	0	[2]
Derivative liabilities	0	[3]	0	[3]
Fair Value, Measurements, Recurring \| Level III \| Total-return swap	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative asset	0	[2]	0	[2]
Fair Value, Measurements, Recurring \| Level III \| Contingent consideration	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Contingent consideration	25,559	[3]	0	[3]
Fair Value, Measurements, Recurring \| Level III \| Interest-rate swaps	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Derivative liabilities	$0	[3]	$0	[3]

[1]	Carrying value approximates fair value due to the short-term nature.
[2]	Amounts are included in other assets in the condensed consolidated statements of financial condition.
[3]	Amounts are included in accounts payable, accrued expenses and other liabilities in the condensed consolidated statements of financial condition.

FAIR_VALUE_Valuation_of_Invest

FAIR VALUE - Valuation of Investments and Other Financial Instruments (Detail) (USD $)	Sep. 30, 2014		Feb. 28, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014		Feb. 28, 2014	Dec. 31, 2013
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	$45,304,349		$312,900	$39,911,888
Total derivatives	384,644		'	107,345
Total derivatives	-100,520		'	-160,192
Consolidated Funds	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	45,304,349		'	39,911,888
Total derivatives	364,284		'	94,937
Securities sold short b equities	-89,869		'	-140,251
Total derivatives	-96,363		'	-149,880
Consolidated Funds \| Options and futures	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	30,972		'	18,138
Total derivatives	-4,597		'	-6,214
Consolidated Funds \| Swaptions	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	1,530		'	6,716
Total derivatives	-572		'	-1,324
Consolidated Funds \| Level III	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	25,498,085	[1],[2],[3],[4]	'	21,465,845	[1],[2],[3],[4]
Fair Value, Measurements, Recurring	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total assets	500,722		'	689,008
Total liabilities	-29,716		'	-10,312
Fair Value, Measurements, Recurring \| Forward currency contracts	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	20,360	[5]	'	7,893	[5]
Total derivatives	-1,636	[6]	'	-6,141	[6]
Fair Value, Measurements, Recurring \| Level I	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total assets	480,362		'	676,600
Total liabilities	0		'	0
Fair Value, Measurements, Recurring \| Level I \| Forward currency contracts	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	0	[5]	'	0	[5]
Total derivatives	0	[6]	'	0	[6]
Fair Value, Measurements, Recurring \| Level II	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total assets	20,360		'	12,408
Total liabilities	-4,157		'	-10,312
Fair Value, Measurements, Recurring \| Level II \| Forward currency contracts	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	20,360	[5]	'	7,893	[5]
Total derivatives	-1,636	[6]	'	-6,141	[6]
Fair Value, Measurements, Recurring \| Level III	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total assets	0		'	0
Total liabilities	-25,559		'	0
Fair Value, Measurements, Recurring \| Level III \| Forward currency contracts	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	0	[5]	'	0	[5]
Total derivatives	0	[6]	'	0	[6]
Fair Value, Measurements, Recurring \| Consolidated Funds	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	45,304,349		'	39,911,888
Total derivatives	364,284		'	94,937
Total assets	45,668,633		'	40,006,825
Securities sold short b equities	-89,869		'	-140,251
Total derivatives	-96,363		'	-149,880
Total liabilities	-186,232		'	-290,131
Fair Value, Measurements, Recurring \| Consolidated Funds \| Forward currency contracts	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	312,939		'	51,765
Total derivatives	-48,247		'	-135,246
Fair Value, Measurements, Recurring \| Consolidated Funds \| Swaps	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	18,843		'	18,318
Total derivatives	-42,947		'	-7,096
Fair Value, Measurements, Recurring \| Consolidated Funds \| Options and futures	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	30,972		'	18,138
Total derivatives	-4,597		'	-6,214
Fair Value, Measurements, Recurring \| Consolidated Funds \| Swaptions	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	1,530		'	6,716
Total derivatives	-572		'	-1,324
Fair Value, Measurements, Recurring \| Consolidated Funds \| Corporate debt b bank debt	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	9,975,900		'	10,161,566
Fair Value, Measurements, Recurring \| Consolidated Funds \| Corporate debt b all other	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	8,066,402		'	7,558,623
Fair Value, Measurements, Recurring \| Consolidated Funds \| Equities b common stock	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	15,890,656		'	12,613,353
Fair Value, Measurements, Recurring \| Consolidated Funds \| Equities b preferred stock	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	1,257,133		'	932,355
Fair Value, Measurements, Recurring \| Consolidated Funds \| Real estate	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	7,799,206		'	6,258,478
Fair Value, Measurements, Recurring \| Consolidated Funds \| Real estate loan portfolios	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	2,297,898		'	2,369,441
Fair Value, Measurements, Recurring \| Consolidated Funds \| Other	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	17,154		'	18,072
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	6,118,238		'	4,811,623
Total derivatives	3,040		'	101
Total assets	6,121,278		'	4,811,724
Securities sold short b equities	-89,869		'	-140,251
Total derivatives	-206		'	-5,030
Total liabilities	-90,075		'	-145,281
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I \| Forward currency contracts	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	0		'	0
Total derivatives	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I \| Swaps	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	0		'	0
Total derivatives	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I \| Options and futures	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	3,040		'	101
Total derivatives	-206		'	-5,030
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I \| Swaptions	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	0		'	0
Total derivatives	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I \| Corporate debt b bank debt	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I \| Corporate debt b all other	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	475		'	798
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I \| Equities b common stock	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	6,101,129		'	4,804,068
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I \| Equities b preferred stock	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	15,267		'	4,101
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I \| Real estate	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I \| Real estate loan portfolios	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level I \| Other	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	1,367		'	2,656
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	13,692,119		'	13,634,420
Total derivatives	357,151		'	94,836
Total assets	14,049,270		'	13,729,256
Securities sold short b equities	0		'	0
Total derivatives	-96,157		'	-144,850
Total liabilities	-96,157		'	-144,850
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II \| Forward currency contracts	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	312,939		'	51,765
Total derivatives	-48,247		'	-135,246
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II \| Swaps	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	14,750		'	18,318
Total derivatives	-42,947		'	-7,096
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II \| Options and futures	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	27,932		'	18,037
Total derivatives	-4,391		'	-1,184
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II \| Swaptions	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	1,530		'	6,716
Total derivatives	-572		'	-1,324
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II \| Corporate debt b bank debt	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	7,943,937		'	7,352,129
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II \| Corporate debt b all other	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	5,508,260		'	5,125,646
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II \| Equities b common stock	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	237,450		'	1,109,270
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II \| Equities b preferred stock	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	2,472		'	8,483
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II \| Real estate	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	0		'	37,184
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II \| Real estate loan portfolios	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level II \| Other	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	0		'	1,708
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	25,493,992		'	21,465,845
Total derivatives	4,093		'	0
Total assets	25,498,085		'	21,465,845
Securities sold short b equities	0		'	0
Total derivatives	0		'	0
Total liabilities	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III \| Forward currency contracts	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	0		'	0
Total derivatives	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III \| Swaps	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	4,093		'	0
Total derivatives	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III \| Options and futures	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	0		'	0
Total derivatives	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III \| Swaptions	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total derivatives	0		'	0
Total derivatives	0		'	0
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III \| Corporate debt b bank debt	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	2,031,963		'	2,809,437
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III \| Corporate debt b all other	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	2,557,667		'	2,432,179
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III \| Equities b common stock	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	9,552,077		'	6,700,015
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III \| Equities b preferred stock	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	1,239,394		'	919,771
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III \| Real estate	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	7,799,206		'	6,221,294
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III \| Real estate loan portfolios	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	2,297,898		'	2,369,441
Fair Value, Measurements, Recurring \| Consolidated Funds \| Level III \| Other	'		'	'
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]	'		'	'
Total investments	$15,787		'	$13,708

[1]	The weighted average is based on the fair value of the investments included in the range.
[2]	Multiple of either earnings or underlying assets is the significant unobservable input used in the market approach for the fair-value measurement of distressed credit-oriented investments, credit-oriented investments in which the consolidated funds have a controlling interest in the underlying issuer, equity investments and certain real estate-oriented investments. An increase (decrease) in the multiple would result in a higher (lower) fair-value measurement.
[3]	The significant unobservable inputs used in the fair-value measurement of real estate investments utilizing a discounted cash flow analysis can include one or more of the following: discount rate, terminal capitalization rate, direct capitalization rate, net operating income growth rate or absorption rate. An increase (decrease) in a discount rate, terminal capitalization rate or direct capitalization rate would result in a lower (higher) fair-value measurement. An increase (decrease) in a net operating income growth rate or absorption rate would result in a higher (lower) fair-value measurement. Generally, a change in a net operating income growth rate or absorption rate would be accompanied by a directionally similar change in the discount rate.
[4]	The discount rate is the significant unobservable input used in the fair-value measurement of performing credit-oriented investments in which the consolidated funds do not have a controlling interest in the underlying issuer, as well as certain equity investments and real estate loan portfolios. An increase (decrease) in the discount rate would result in a lower (higher) fair-value measurement.
[5]	Amounts are included in other assets in the condensed consolidated statements of financial condition.
[6]	Amounts are included in accounts payable, accrued expenses and other liabilities in the condensed consolidated statements of financial condition.

FAIR_VALUE_Summary_of_Changes_

FAIR VALUE - Summary of Changes in Fair Value of Level III Investments (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning balance	$24,379,356	$19,542,983	$21,465,845	$19,907,890
Transfers into Level III	587,479	548,899	2,116,105	1,599,038
Transfers out of Level III	-683,526	-750,939	-2,841,932	-1,954,238
Purchases	2,830,214	2,092,059	7,556,730	4,480,835
Sales	-1,475,573	-1,902,935	-4,305,242	-5,505,396
Realized gains (losses), net	248,470	516,225	675,873	1,350,956
Unrealized appreciation (depreciation), net	-388,335	159,759	830,706	326,966
Ending balance	25,498,085	20,206,051	25,498,085	20,206,051
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	-16,779	381,868	1,534,314	1,082,155
Corporate debt b bank debt	'	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning balance	1,944,391	1,711,680	2,809,437	2,253,476
Transfers into Level III	3,976	276,696	816,797	440,605
Transfers out of Level III	-219,950	-72,043	-1,768,697	-669,172
Purchases	484,567	533,073	888,791	827,924
Sales	-128,806	-280,820	-735,809	-708,296
Realized gains (losses), net	15,274	19,096	120,750	18,523
Unrealized appreciation (depreciation), net	-67,489	101,226	-99,306	125,848
Ending balance	2,031,963	2,288,908	2,031,963	2,288,908
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	-85,726	102,940	-44,291	90,534
Corporate debt b all other	'	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning balance	2,346,508	2,535,280	2,432,179	3,159,051
Transfers into Level III	151,436	48,124	313,982	59,544
Transfers out of Level III	'	-14,544	-18,871	-215,738
Purchases	222,089	240,959	501,385	358,510
Sales	-80,736	-254,764	-689,974	-898,672
Realized gains (losses), net	-31,977	65,722	87,061	157,027
Unrealized appreciation (depreciation), net	-49,653	40,856	-68,095	41,911
Ending balance	2,557,667	2,661,633	2,557,667	2,661,633
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	-7,465	22,270	72,149	101,485
Equities b common stock	'	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning balance	8,334,621	7,373,118	6,700,015	8,101,051
Transfers into Level III	428,142	105,583	852,824	698,735
Transfers out of Level III	-382,830	-654,361	-876,178	-1,059,337
Purchases	1,547,303	334,417	3,068,812	685,588
Sales	-160,046	-860,649	-477,359	-2,277,253
Realized gains (losses), net	11,350	397,272	76,760	922,320
Unrealized appreciation (depreciation), net	-226,463	-226,424	207,203	-602,148
Ending balance	9,552,077	6,468,956	9,552,077	6,468,956
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	-25,962	-14,316	533,070	119,749
Equities b preferred stock	'	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning balance	1,200,716	663,523	919,771	650,096
Transfers into Level III	0	118,496	0	385,099
Transfers out of Level III	-76,821	-9,991	-83,365	-9,991
Purchases	73,276	105,921	249,973	203,315
Sales	-1,208	-723	-69,486	-312,669
Realized gains (losses), net	-893	164	-16,978	55,985
Unrealized appreciation (depreciation), net	44,324	-14,590	239,479	-109,035
Ending balance	1,239,394	862,800	1,239,394	862,800
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	83,015	30,688	264,924	-50,371
Real estate	'	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning balance	8,020,570	5,199,534	6,221,294	3,946,142
Transfers into Level III	3,925	0	132,502	15,055
Transfers out of Level III	-3,925	0	-94,821	0
Purchases	453,157	624,020	2,146,535	1,556,156
Sales	-690,580	-148,528	-1,268,380	-497,633
Realized gains (losses), net	167,963	24,190	264,088	169,388
Unrealized appreciation (depreciation), net	-151,904	156,494	397,988	666,602
Ending balance	7,799,206	5,855,710	7,799,206	5,855,710
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	-42,386	138,039	556,131	616,914
Real estate loan portfolios	'	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning balance	2,516,827	1,989,515	2,369,441	1,737,822
Transfers into Level III	0	0	0	0
Transfers out of Level III	'	0	'	0
Purchases	48,822	253,669	699,234	849,342
Sales	-413,965	-357,451	-1,064,002	-810,873
Realized gains (losses), net	87,627	9,781	145,066	27,713
Unrealized appreciation (depreciation), net	58,587	83,618	148,159	175,128
Ending balance	2,297,898	1,979,132	2,297,898	1,979,132
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	58,587	83,618	148,159	175,128
Swaps	'	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning balance	836	55,817	0	44,705
Transfers into Level III	0	0	0	0
Transfers out of Level III	'	0	'	0
Purchases	'	0	'	0
Sales	'	0	'	0
Realized gains (losses), net	'	0	'	0
Unrealized appreciation (depreciation), net	3,257	18,980	4,093	30,092
Ending balance	4,093	74,797	4,093	74,797
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	3,257	18,973	4,093	30,092
Other:	'	'	'	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]	'	'	'	'
Beginning balance	14,887	14,516	13,708	15,547
Transfers into Level III	0	0	0	0
Transfers out of Level III	'	0	'	0
Purchases	1,000	0	2,000	0
Sales	-232	0	-232	0
Realized gains (losses), net	-874	0	-874	0
Unrealized appreciation (depreciation), net	1,006	-401	1,185	-1,432
Ending balance	15,787	14,115	15,787	14,115
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	($99)	($344)	$79	($1,376)

FAIR_VALUE_Additional_Informat

FAIR VALUE - Additional Information (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
	investment	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'	'
Transfers from level II to level I	$739.70	$1,100
Number of exchange-traded investments - decrease	3	'
Number of Exchange-Traded investments - Increase	1	'

FAIR_VALUE_Summary_of_Valuatio

FAIR VALUE - Summary of Valuation Techniques and Quantitative Information (Detail) (USD $)

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Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

In Thousands, unless otherwise specified

Credit-oriented investments:

Equity investments:

Real estate-oriented investments:

Consolidated Funds

investment

Level III

Credit-oriented investments:

Equity investments:

Real estate-oriented investments:

Real estate loan portfolios

Other

Consumer discretionary

Financials

Industrials

Materials

Other:

Consumer discretionary

Financials

Industrials

Materials

Other:

Energy

Other

Discounted cash flow

Market approach (comparable companies)

Recent transaction price

Sales approach

Recent market information

Market approach (value of underlying assets)

Other

Discounted cash flow

Recent transaction price

Discounted cash flow

Market approach (comparable companies)

Recent transaction price

Recent market information

Discounted cash flow

Recent transaction price

Recent market information

Market approach (value of underlying assets)

Discounted cash flow / Sales approach

Discounted cash flow

Market approach (comparable companies)

Recent transaction price

Recent market information

Market approach (value of underlying assets)

Discounted cash flow / Sales approach

Discounted cash flow

Market approach (comparable companies)

Recent transaction price

Discounted cash flow / Sales approach

Discounted cash flow

Market approach (comparable companies)

Recent transaction price

Recent market information

Discounted cash flow

Market approach (comparable companies)

Recent transaction price

Recent market information

Market approach (comparable companies)

Recent transaction price

Market approach (value of underlying assets)

Market approach (comparable companies)

Recent transaction price

Recent market information

Market approach (value of underlying assets)

Market approach (comparable companies)

Recent transaction price

Recent market information

Market approach (comparable companies)

Recent transaction price

Recent market information

Market approach (value of underlying assets)

Other

Discounted cash flow

Market approach (comparable companies)

Recent transaction price

Recent market information

Other

Discounted cash flow

Market approach (comparable companies)

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Minimum

Maximum

Weighted Average

Fair Value Inputs, Assets, Quantitative Information [Line Items]

Total investments, at fair value

$45,304,349

$312,900

$39,911,888

$45,304,349

$39,911,888

$25,498,085

[1],[2],[3],[4]

$21,465,845

[1],[2],[3],[4]

$181,332

[1],[2],[3],[4],[5]

$40,998

[1],[2],[3],[4],[5]

$577,793

[1],[2],[3],[4],[6],[7]

$571,865

[1],[2],[3],[4],[6],[7]

$133,396

[1],[2],[3],[4],[8]

$321,619

[1],[2],[3],[4],[8]

$181,786

[1],[2],[3],[4],[9]

$139,002

[1],[2],[3],[4],[9]

$163,038

[1],[2],[3],[4],[5]

$287,366

[1],[2],[3],[4],[8]

$73,237

[1],[2],[3],[4],[9]

$55,438

[1],[10],[2],[3],[4],[6]

$267,091

[1],[11],[2],[3],[4],[5]

$244,077

[1],[2],[3],[4],[5]

$328,712

[1],[2],[3],[4],[5]

$76,370

[1],[2],[3],[4],[6],[7]

$59,349

[1],[10],[2],[3],[4],[6]

$65,511

[1],[2],[3],[4],[8]

$208,436

[1],[2],[3],[4],[8]

$173,719

[1],[2],[3],[4],[9]

$840,871

[1],[2],[3],[4],[9]

$82,373

[1],[10],[2],[3],[4],[6]

$77,550

[1],[10],[2],[3],[4],[6]

$329,854

[1],[11],[2],[3],[4],[5]

$335,270

[1],[11],[12],[2],[3],[4]

$102,767

[1],[2],[3],[4],[5]

$67,280

[1],[2],[3],[4],[5]

$204,270

[1],[2],[3],[4],[6],[7]

$437,522

[1],[2],[3],[4],[6],[7]

$85,568

[1],[2],[3],[4],[8]

$79,020

[1],[2],[3],[4],[8]

$187,709

[1],[11],[2],[3],[4],[5]

$462,283

[1],[2],[3],[4],[5]

$704,430

[1],[2],[3],[4],[5]

$356,534

[1],[2],[3],[4],[6],[7]

$337,406

[1],[2],[3],[4],[6],[7]

$30,752

[1],[2],[3],[4],[8]

$291,925

[1],[2],[3],[4],[8]

$271,459

[1],[2],[3],[4],[9]

$400,361

[1],[2],[3],[4],[9]

$57,560

[1],[2],[3],[4],[5]

$504,550

[1],[2],[3],[4],[6],[7]

$97,834

[1],[2],[3],[4],[8]

$140,705

[1],[2],[3],[4],[9]

$344,636

[1],[2],[3],[4],[6],[7]

$185,140

[1],[2],[3],[4],[8]

$407,823

[1],[10],[2],[3],[4],[6]

$2,006,387

[1],[2],[3],[4],[6],[7]

$1,511,811

[1],[2],[3],[4],[6],[7]

$41,800

[1],[2],[3],[4],[8]

$745,519

[1],[2],[3],[4],[8]

$634,939

[1],[2],[3],[4],[9]

$2,394,023

[1],[10],[2],[3],[4],[6]

$1,064,686

[1],[10],[2],[3],[4],[6]

$1,130,739

[1],[2],[3],[4],[6],[7]

$1,014,930

[1],[2],[3],[4],[6],[7]

$52,185

[1],[2],[3],[4],[8]

$56,064

[1],[2],[3],[4],[8]

$127,731

[1],[2],[3],[4],[9]

$1,604

[1],[2],[3],[4],[9]

$1,497,860

[1],[2],[3],[4],[6],[7]

$237,468

[1],[2],[3],[4],[8]

$226,671

[1],[2],[3],[4],[9]

$791,601

[1],[10],[2],[3],[4],[6]

$54,143

[1],[2],[3],[4]

$52,699

[1],[2],[3],[4],[5]

$60,451

[1],[2],[3],[4],[5]

$1,124,865

[1],[2],[3],[4],[6],[7]

$1,052,158

[1],[2],[3],[4],[6],[7]

$232,269

[1],[2],[3],[4],[8]

$21,790

[1],[2],[3],[4],[8]

$107,361

[1],[2],[3],[4],[9]

$186,091

[1],[2],[3],[4]

$245,164

[1],[2],[3],[4]

$2,779,492

[1],[13],[2],[3],[4],[5]

$1,997,927

[1],[13],[2],[3],[4],[5]

$1,629,207

[1],[2],[3],[4],[6],[7]

$1,230,234

[1],[2],[3],[4],[6],[7]

$940,366

[1],[2],[3],[4],[8]

$710,888

[1],[2],[3],[4],[8]

$946,016

[1],[11],[2],[3],[4]

$684,802

[1],[11],[2],[3],[4]

$788,660

[1],[2],[3],[4],[9]

$1,169,991

[1],[2],[3],[4],[9]

$619,892

[1],[10],[2],[3],[4],[6]

$427,452

[1],[10],[2],[3],[4],[6]

$95,573

[1],[2],[3],[4]

$1,441,573

[1],[13],[2],[3],[4],[5]

$1,775,455

[1],[13],[2],[3],[4],[5]

$856,325

[1],[2],[3],[4],[8]

$593,986

[1],[2],[3],[4],[8]

$15,787

[1],[2],[3],[4]

$13,708

[1],[2],[3],[4]

Quoted prices / discount (as a percent)

0.00%

5.00%

4.00%

0.00%

5.00%

6.00%

4.00%

5.00%

Discount rate (as a percent)

5.00%

13.00%

23.00%

15.00%

12.00%

14.00%

12.00%

17.00%

12.00%

5.00%

12.00%

19.00%

17.00%

13.00%

14.00%

11.00%

13.00%

14.00%

13.00%

5.00%

8.00%

14.00%

15.00%

11.00%

12.00%

14.00%

13.00%

10.00%

12.00%

11.00%

10.00%

12.00%

11.00%

7.00%

8.00%

44.00%

36.00%

14.00%

7.00%

10.00%

20.00%

24.00%

14.00%

15.00%

Earnings multiple

Discount rate / Market transactions (as a percent)

6.00%

8.00%

7.00%

10.00%

11.00%

16.00%

20.00%

13.00%

14.00%

16.00%

15.00%

Underlying asset multiple

0.9

1.1

0.9

1.1

1.2

1.1

1.3

1.4

1.1

1.4

1.1

1.2

1.3

1.4

1.5

1.3

1.4

Terminal capitalization rate (as a percent)

0.06

0.1

0.15

0.08

Direct capitalization rate (as a percent)

0.05

0.07

0.08

0.07

0.08

Net operating income growth rate (as a percent)

0.00%

1.00%

31.00%

30.00%

9.00%

Absorption rate (as a percent)

16.00%

44.00%

35.00%

32.00%

Number of investments that changed valuation technique

[1]

The weighted average is based on the fair value of the investments included in the range.

[2]

Multiple of either earnings or underlying assets is the significant unobservable input used in the market approach for the fair-value measurement of distressed credit-oriented investments, credit-oriented investments in which the consolidated funds have a controlling interest in the underlying issuer, equity investments and certain real estate-oriented investments. An increase (decrease) in the multiple would result in a higher (lower) fair-value measurement.

[3]

The significant unobservable inputs used in the fair-value measurement of real estate investments utilizing a discounted cash flow analysis can include one or more of the following: discount rate, terminal capitalization rate, direct capitalization rate, net operating income growth rate or absorption rate. An increase (decrease) in a discount rate, terminal capitalization rate or direct capitalization rate would result in a lower (higher) fair-value measurement. An increase (decrease) in a net operating income growth rate or absorption rate would result in a higher (lower) fair-value measurement. Generally, a change in a net operating income growth rate or absorption rate would be accompanied by a directionally similar change in the discount rate.

[4]

The discount rate is the significant unobservable input used in the fair-value measurement of performing credit-oriented investments in which the consolidated funds do not have a controlling interest in the underlying issuer, as well as certain equity investments and real estate loan portfolios. An increase (decrease) in the discount rate would result in a lower (higher) fair-value measurement.

[5]

A discounted cash-flow method is generally used to value performing credit-oriented investments in which the consolidated funds do not have a controlling interest in the underlying issuer, as well as certain equity investments, real estate-oriented investments and real estate loan portfolios.

[6]

A market approach is generally used to value distressed investments and investments in which the consolidated funds have a controlling interest in the underlying issuer.

[7]

Earnings multiples are based on comparable public companies and transactions with comparable companies. The Company typically utilizes multiples of EBITDA; however, in certain cases the Company may use other earnings multiples believed to be most relevant to the investment. The Company typically applies the multiple to trailing twelve-monthsb EBITDA. However, in certain cases other earnings measures, such as pro forma EBITDA, may be utilized if deemed to be more relevant.

[8]

Certain investments are valued based on recent transactions, generally defined as investments purchased or sold within six months of the valuation date. The fair value may also be based on a pending transaction expected to close after the valuation date.

[9]

Certain investments are valued using quoted prices for the subject or similar securities. Generally, investments valued in this manner are classified as Level III because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities, or may require adjustment for investment-specific factors or restrictions.

[10]

A market approach using the value of underlying assets utilizes a multiple, based on comparable companies, of underlying assets or the net book value of the portfolio company. The Company typically obtains the value of underlying assets from the underlying portfolio companybs financial statements or from pricing vendors. The Company may value the underlying assets by using prices and other relevant information from market transactions involving comparable assets.

[11]

The sales approach uses prices and other relevant information generated by market transactions involving comparable assets. The significant unobservable inputs used in the sales approach generally include adjustments to transactions involving comparable assets or properties, adjustments to external or internal appraised values, and the Companybs assumptions regarding market trends or other relevant factors.

[12]

The debt obligations of the CLOs are Level III valuations and were valued using prices obtained from pricing vendors or recent transactions. Financial instruments that are valued using quoted prices for the subject or similar securities are generally classified as Level III because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities, or may require adjustment for investment-specific factors or restrictions. Financial instruments that are valued based on recent transactions are generally defined as securities purchased or sold within six months of the valuation date. The fair value may also be based on a pending transaction expected to close after the valuation date.

[13]

The discounted cash flow model for certain real estate-oriented investments and certain real estate loan portfolios contains a sell-out analysis. In these cases, the discounted cash flow is based on the expected timing and prices of sales of the underlying properties. The Companybs determination of the sales prices of these properties typically includes consideration of prices and other relevant information from market transactions involving comparable properties.

HEDGES_AND_OTHER_DERIVATIVE_IN2

HEDGES AND OTHER DERIVATIVE INSTRUMENTS - Additional Information (Detail) (USD $)

1 Months Ended

9 Months Ended

1 Months Ended

Feb. 28, 2014

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Feb. 28, 2014

Aug. 31, 2013

Dec. 31, 2013

Aug. 31, 2013

Jan. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Jan. 31, 2013

Oaktree CLO 2014-1 Ltd.

Senior Loans

Fair Value Hedging

Cash Flow Hedging

Not Designated as Hedging Instrument

Interest Rate Swap

Total-return swaps

Designated as Hedging Instrument

Oaktree CLO 2014-1 Ltd.

agreement

Derivatives And Hedging Activities [Line Items]

Notional value of interest-rate swaps

$175,000,000

$168,800,000

Number of interest-rate swaps (in agreements)

Contract amount

200,000,000

189,089,000

356,300,000

378,800,000

Average remaining maturity (in years)

'2 years

Collateral, right to reclaim cash

50,000,000

4,500,000

Realized gains

7,100,000

Cash received on closing position

1,400,000

Due from counter party

5,700,000

Total investments, at fair value

312,900,000

45,304,349,000

39,911,888,000

Interest receivable

1,000,000

Cash payments

258,200,000

23,381,000

8,870,000

Proceeds from debt obligations issued by collateralized loan obligation vehicles

450,000,000

Portion funded by the Company

60,200,000

Proceeds from issuance of senior loans

456,000,000

Debt issuance cost

$6,000,000

HEDGES_AND_OTHER_DERIVATIVE_IN3

HEDGES AND OTHER DERIVATIVE INSTRUMENTS - Summary of Net Forward Currency Sell Contracts Under Freestanding Derivatives (Detail) (Not Designated as Hedging Instrument, Foreign Currency Forward Sell Contracts)

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

USD ($)

Euro

USD

GBP

Japanese Yen

USD ($)

EUR (€)

Minimum

Maximum

USD ($)

Minimum

Maximum

USD ($)

GBP (£)

USD ($)

JPY (¥)

Minimum

Maximum

Derivative [Line Items]

Contract amount

$371,557,000

$276,070,000

$221,421,000

$153,959,000

€ 163,120,000

€ 115,685,000

$78,034,000

$54,361,000

$4,643,000

£ 3,000,000

$72,102,000

$63,107,000

¥ 7,314,300,000

¥ 6,261,700,000

Market Value in U.S. Dollars

352,833,000

274,318,000

206,346,000

159,485,000

79,671,000

50,286,000

4,966,000

66,816,000

59,581,000

Net Unrealized Appreciation (Depreciation)

$18,724,000

$1,752,000

$15,075,000

($5,526,000)

($1,637,000)

$4,075,000

($323,000)

$5,286,000

$3,526,000

Expiration date

8-Oct-14

8-Jan-14

30-Sep-15

31-Oct-14

8-Jan-14

30-Sep-15

30-Sep-14

30-Apr-14

31-Oct-14

31-Jan-14

30-Sep-15

30-Jan-15

HEDGES_AND_OTHER_DERIVATIVE_IN4

HEDGES AND OTHER DERIVATIVE INSTRUMENTS - Fair Value of the Total-return Swap (Details) (Not Designated as Hedging Instrument, Fair Value Hedging, Total-return swaps, USD $)	Dec. 31, 2013	Aug. 31, 2013
Not Designated as Hedging Instrument \| Fair Value Hedging \| Total-return swaps	'	'
Derivative [Line Items]	'	'
Notional	$189,089,000	$200,000,000
Fair Value	$4,515,000	'

HEDGES_AND_OTHER_DERIVATIVE_IN5

HEDGES AND OTHER DERIVATIVE INSTRUMENTS - Summary of Impact of Freestanding Derivative Instruments on Condensed Consolidated Statement of Operations (Detail) (Not Designated as Hedging Instrument, USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Foreign currency forward contracts	'		'		'		'
Derivative Instruments, Gain (Loss) [Line Items]	'		'		'		'
Gains and losses from freestanding derivative instruments	$17,231	[1]	($3,531)	[1]	$18,325	[1]	$1,318	[1]
Total-return swaps	'		'		'		'
Derivative Instruments, Gain (Loss) [Line Items]	'		'		'		'
Gains and losses from freestanding derivative instruments	$0		$132		$2,554		$132

[1]	To the extent that the Companybs freestanding derivatives are utilized to hedge its exposure to investment income and management fees earned from consolidated funds, the related hedged items are eliminated in consolidation, with the derivative impact (a positive number reflects a reduction of expenses) reflected in consolidated general and administrative expenses.

HEDGES_AND_OTHER_DERIVATIVE_IN6

HEDGES AND OTHER DERIVATIVE INSTRUMENTS - Impact of Derivative Instruments Held by Consolidated Funds on Condensed Consolidated Statements of Operations (Detail) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Foreign Currency Contracts - Long	'	'	'	'
Derivatives, Fair Value [Line Items]	'	'	'	'
Derivative, Average Notional Amount	'	'	$4,800,000,000	'
Foreign Currency Contracts - Short	'	'	'	'
Derivatives, Fair Value [Line Items]	'	'	'	'
Derivative, Average Notional Amount	'	'	286,100,000	'
Total Return Swaps - Long	'	'	'	'
Derivatives, Fair Value [Line Items]	'	'	'	'
Derivative, Average Notional Amount	'	'	1,100,000,000	'
Total Return Swap - Short	'	'	'	'
Derivatives, Fair Value [Line Items]	'	'	'	'
Derivative, Average Notional Amount	'	'	21,700,000	'
Not Designated as Hedging Instrument \| Consolidated Funds	'	'	'	'
Derivatives, Fair Value [Line Items]	'	'	'	'
Net Realized Gain (Loss) on Investments	-17,037,000	5,276,000	-88,198,000	22,901,000
Net Change in Unrealized Appreciation (Depreciation) on Investments	331,687,000	-208,769,000	302,356,000	8,560,000
Not Designated as Hedging Instrument \| Consolidated Funds \| Foreign currency forward contracts	'	'	'	'
Derivatives, Fair Value [Line Items]	'	'	'	'
Net Realized Gain (Loss) on Investments	-12,035,000	9,382,000	-106,223,000	28,934,000
Net Change in Unrealized Appreciation (Depreciation) on Investments	346,855,000	-222,589,000	342,592,000	-38,598,000
Not Designated as Hedging Instrument \| Consolidated Funds \| Total-return, credit-default and interest-rate swaps	'	'	'	'
Derivatives, Fair Value [Line Items]	'	'	'	'
Net Realized Gain (Loss) on Investments	-2,829,000	-1,235,000	41,086,000	2,648,000
Net Change in Unrealized Appreciation (Depreciation) on Investments	-22,726,000	19,637,000	-36,290,000	44,396,000
Not Designated as Hedging Instrument \| Consolidated Funds \| Options and futures	'	'	'	'
Derivatives, Fair Value [Line Items]	'	'	'	'
Net Realized Gain (Loss) on Investments	-1,507,000	-2,871,000	-22,395,000	-8,681,000
Net Change in Unrealized Appreciation (Depreciation) on Investments	6,233,000	-5,817,000	41,000	2,762,000
Not Designated as Hedging Instrument \| Consolidated Funds \| Swaptions	'	'	'	'
Derivatives, Fair Value [Line Items]	'	'	'	'
Net Realized Gain (Loss) on Investments	-666,000	0	-666,000	0
Net Change in Unrealized Appreciation (Depreciation) on Investments	$1,325,000	$0	($3,987,000)	$0

HEDGES_AND_OTHER_DERIVATIVE_IN7

HEDGES AND OTHER DERIVATIVE INSTRUMENTS - Balance Sheet Offsetting (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Derivative Assets:	'	'
Gross Amounts of Assets	$384,644	$107,345
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	384,644	107,345
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Assets	77,828	38,981
Cash Collateral Received	0	0
Derivative Liabilities:	'	'
Gross Amounts of Liabilities	-100,520	-160,192
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	-100,520	-160,192
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Liabilities	-77,828	-38,981
Cash Collateral Pledged	-17,375	-19,008
Assets	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	306,816	68,364
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	306,816	68,364
Liabilities	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	5,317	102,203
Oaktree Capital Group, LLC	'	'
Derivative Assets:	'	'
Gross Amounts of Assets	'	12,408
Gross Amounts Offset in Assets	'	0
Derivative assets, at fair value	'	12,408
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Assets	'	5,951
Cash Collateral Received	'	0
Derivative Liabilities:	'	'
Gross Amounts of Liabilities	-4,157	-10,312
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	-4,157	-10,312
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Liabilities	-4,157	-5,951
Cash Collateral Pledged	0	0
Oaktree Capital Group, LLC \| Assets	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	'	6,457
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	'	6,457
Oaktree Capital Group, LLC \| Liabilities	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	0	4,361
Oaktree Capital Group, LLC \| Foreign currency forward contracts	'	'
Derivative Assets:	'	'
Gross Amounts of Assets	20,360	7,893
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	20,360	7,893
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Assets	4,157	5,951
Cash Collateral Received	0	0
Derivative Liabilities:	'	'
Gross Amounts of Liabilities	-1,636	-6,141
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	-1,636	-6,141
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Liabilities	-1,636	-4,466
Cash Collateral Pledged	0	0
Oaktree Capital Group, LLC \| Foreign currency forward contracts \| Assets	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	16,203	1,942
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	16,203	1,942
Oaktree Capital Group, LLC \| Foreign currency forward contracts \| Liabilities	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	0	1,675
Oaktree Capital Group, LLC \| Total-return swaps	'	'
Derivative Assets:	'	'
Gross Amounts of Assets	'	4,515
Gross Amounts Offset in Assets	'	0
Derivative assets, at fair value	'	4,515
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Assets	'	0
Cash Collateral Received	'	0
Oaktree Capital Group, LLC \| Total-return swaps \| Assets	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	'	4,515
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	'	4,515
Oaktree Capital Group, LLC \| Interest-rate swaps	'	'
Derivative Liabilities:	'	'
Gross Amounts of Liabilities	-2,521	-4,171
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	-2,521	-4,171
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Liabilities	-2,521	-1,485
Cash Collateral Pledged	0	0
Oaktree Capital Group, LLC \| Interest-rate swaps \| Liabilities	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	0	2,686
Consolidated Funds	'	'
Derivative Assets:	'	'
Gross Amounts of Assets	364,284	94,937
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	364,284	94,937
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Assets	73,671	33,030
Cash Collateral Received	0	0
Derivative Liabilities:	'	'
Gross Amounts of Liabilities	-96,363	-149,880
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	-96,363	-149,880
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Liabilities	-73,671	-33,030
Cash Collateral Pledged	-17,375	-19,008
Consolidated Funds \| Assets	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	290,613	61,907
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	290,613	61,907
Consolidated Funds \| Liabilities	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	5,317	97,842
Consolidated Funds \| Foreign currency forward contracts	'	'
Derivative Assets:	'	'
Gross Amounts of Assets	312,939	51,765
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	312,939	51,765
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Assets	47,035	31,223
Cash Collateral Received	0	0
Derivative Liabilities:	'	'
Gross Amounts of Liabilities	-48,247	-135,246
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	-48,247	-135,246
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Liabilities	-46,662	-31,223
Cash Collateral Pledged	0	-11,583
Consolidated Funds \| Foreign currency forward contracts \| Assets	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	265,904	20,542
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	265,904	20,542
Consolidated Funds \| Foreign currency forward contracts \| Liabilities	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	1,585	92,440
Consolidated Funds \| Total-return, credit-default and interest-rate swaps	'	'
Derivative Assets:	'	'
Gross Amounts of Assets	18,843	18,318
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	18,843	18,318
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Assets	14,031	483
Cash Collateral Received	0	0
Derivative Liabilities:	'	'
Gross Amounts of Liabilities	-42,947	-7,096
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	-42,947	-7,096
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Liabilities	-22,046	-483
Cash Collateral Pledged	-17,169	-4,358
Consolidated Funds \| Total-return, credit-default and interest-rate swaps \| Assets	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	4,812	17,835
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	4,812	17,835
Consolidated Funds \| Total-return, credit-default and interest-rate swaps \| Liabilities	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	3,732	2,255
Consolidated Funds \| Options and futures	'	'
Derivative Assets:	'	'
Gross Amounts of Assets	30,972	18,138
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	30,972	18,138
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Assets	11,075	0
Cash Collateral Received	0	0
Derivative Liabilities:	'	'
Gross Amounts of Liabilities	-4,597	-6,214
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	-4,597	-6,214
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Liabilities	-4,391	0
Cash Collateral Pledged	-206	-3,067
Consolidated Funds \| Options and futures \| Assets	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	19,897	18,138
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	19,897	18,138
Consolidated Funds \| Options and futures \| Liabilities	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	0	3,147
Consolidated Funds \| Swaptions	'	'
Derivative Assets:	'	'
Gross Amounts of Assets	1,530	6,716
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	1,530	6,716
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Assets	1,530	1,324
Cash Collateral Received	0	0
Derivative Liabilities:	'	'
Gross Amounts of Liabilities	-572	-1,324
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	-572	-1,324
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Derivative Liabilities	-572	-1,324
Cash Collateral Pledged	0	0
Consolidated Funds \| Swaptions \| Assets	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	0	5,392
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	0	5,392
Consolidated Funds \| Swaptions \| Liabilities	'	'
Gross Amounts Not Offset in Statements of Financial Condition	'	'
Net Amount	$0	$0

DEBT_OBLIGATIONS_AND_CREDIT_FA2

DEBT OBLIGATIONS AND CREDIT FACILITIES - Debt Obligations (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]	'	'
Debt obligations	$850,000,000	$579,464,000
5.03%	'	'
Debt Instrument [Line Items]	'	'
Debt obligations	0	10,714,000
6.09%	'	'
Debt Instrument [Line Items]	'	'
Debt obligations	50,000,000	50,000,000
5.82%	'	'
Debt Instrument [Line Items]	'	'
Debt obligations	50,000,000	50,000,000
6.75%	'	'
Debt Instrument [Line Items]	'	'
Debt obligations	250,000,000	250,000,000
2.50%	'	'
Debt Instrument [Line Items]	'	'
Debt obligations	0	218,750,000
Term Loan, Variable Rate	'	'
Debt Instrument [Line Items]	'	'
Debt obligations	250,000,000	0
3.91%	'	'
Debt Instrument [Line Items]	'	'
Debt obligations	50,000,000	0
4.01%	'	'
Debt Instrument [Line Items]	'	'
Debt obligations	100,000,000	0
4.21%	'	'
Debt Instrument [Line Items]	'	'
Debt obligations	$100,000,000	$0

DEBT_OBLIGATIONS_AND_CREDIT_FA3

DEBT OBLIGATIONS AND CREDIT FACILITIES - Debt Obligations (Parenthetical) (Detail) (USD $)	9 Months Ended
	Sep. 30, 2014
	installment
5.03%	'
Debt Instrument [Line Items]	'
Payment terms	'$75,000, 5.03%, issued in June 2004, payable in seven equal annual installments starting JuneB 14, 2008
Face Amount	$75,000,000
Stated percentage (as a percent)	5.03%
Number of installments	7
Offering date	30-Jun-04
Date of first annual installment	14-Jun-08
6.09%	'
Debt Instrument [Line Items]	'
Payment terms	'$50,000, 6.09%, issued in June 2006, payable on JuneB 6, 2016
Face Amount	50,000,000
Stated percentage (as a percent)	6.09%
Maturity date	6-Jun-16
Offering date	30-Jun-06
5.82%	'
Debt Instrument [Line Items]	'
Payment terms	'$50,000, 5.82%, issued in November 2006, payable on NovemberB 8, 2016
Face Amount	50,000,000
Stated percentage (as a percent)	5.82%
Maturity date	8-Nov-16
Offering date	30-Nov-06
6.75%	'
Debt Instrument [Line Items]	'
Payment terms	'$250,000, 6.75%, issued in November 2009, payable on DecemberB 2, 2019
Face Amount	250,000,000
Stated percentage (as a percent)	6.75%
Maturity date	2-Dec-19
Offering date	30-Nov-09
2.50%	'
Debt Instrument [Line Items]	'
Payment terms	'$250,000, variable rate term loan issued in December 2012, payable 2.5% per quarter through September 2017, final $125,000 payment on December 21, 2017, prepaid in March 2014
Face Amount	250,000,000
Loan amortization rate (as a percent)	2.50%
Maturity date	21-Dec-17
Offering date	31-Dec-12
Final principal payment	125,000,000
Term Loan, Variable Rate	'
Debt Instrument [Line Items]	'
Payment terms	'$250,000, rate as described below, term loan issued in March 2014, payable on March 31, 2019
Face Amount	250,000,000
Maturity date	31-Mar-19
Offering date	31-Mar-14
3.91%	'
Debt Instrument [Line Items]	'
Payment terms	'$50,000, 3.91%, issued in September 2014, payable on SeptemberB 3, 2024
Face Amount	50,000,000
Stated percentage (as a percent)	3.91%
Maturity date	3-Sep-14
Offering date	30-Sep-14
4.01%	'
Debt Instrument [Line Items]	'
Payment terms	'$100,000, 4.01%, issued in September 2014, payable on SeptemberB 3, 2026
Face Amount	100,000,000
Stated percentage (as a percent)	4.01%
Maturity date	3-Sep-26
Offering date	30-Sep-14
4.21%	'
Debt Instrument [Line Items]	'
Payment terms	'$100,000, 4.21%, issued in September 2014, payable on SeptemberB 3, 2029
Face Amount	$100,000,000
Stated percentage (as a percent)	4.21%
Maturity date	3-Sep-29
Offering date	30-Sep-14

DEBT_OBLIGATIONS_AND_CREDIT_FA4

DEBT OBLIGATIONS AND CREDIT FACILITIES - Future Principal Payments of Debt Obligations (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Debt Disclosure [Abstract]	'	'
Remainder of 2014	$0	'
2015	0	'
2016	100,000	'
2017	0	'
2018	0	'
Thereafter	750,000	'
Debt obligations	$850,000	$579,464

DEBT_OBLIGATIONS_AND_CREDIT_FA5

DEBT OBLIGATIONS AND CREDIT FACILITIES - Additional Information (Detail) (USD $)

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Mar. 31, 2014

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Senior Unsecured Credit Facility

Consolidated Funds

2.50%

Old Line of Credit Facility

2.22%

Senior Notes

Senior Unsecured Credit Facilities

Level III

Revolving Credit Facility

Senior Notes

Senior Unsecured Credit Facility

3.91% Senior Notes, Series A

4.01% Senior Notes, Series B

4.21% Senior Notes, Series C

Senior Unsecured Credit Facility

Revolving Credit Facility

Consolidated Funds

Guarantor Subsidiaries

LIBOR

Senior Notes

Debt Instrument [Line Items]

Debt obligation, fair value

$898,200,000

$611,100,000

$2,300,000,000

Average borrowing rate (as a percent)

3.30%

3.20%

Percentage increase in average borrowing rate assumption that would decrease fair value of debt obligation

10.00%

Fair value of debt obligation decrease in value due to increase in average borrowing rate

881,300,000

Percentage decrease in average borrowing rate assumption that would increase fair value of debt obligation

10.00%

Fair value of debt obligation increase in value due to decrease in average borrowing rate

915,800,000

Face amount

250,000,000

Credit agreement

350,000,000

500,000,000

Line of credit facility term (in years)

'5 years

Debt obligations

850,000,000

579,464,000

978,526,000

250,000,000

218,800,000

50,000,000

100,000,000

Stated percentage (as a percent)

3.91%

4.01%

4.21%

LIBOR margin (as a percent)

2.50%

[1]

1.00%

Commitment fee payable on unused funds (as a percent)

0.13%

Fixed interest rate as a result of interest rate swap (as a percent)

2.69%

2.22%

Maximum leverage ratio, numerator

Maximum leverage ratio, denominator

Minimum required levels of assets under management for credit facilities

$50,000,000,000

Term (in years)

'10 years

[1]

The facilities bear interest, at the borrowerbs option, at (a)B an annual rate of LIBOR plus the applicable margin or (b)B an alternate base rate, as defined in the respective credit agreement.

DEBT_OBLIGATIONS_AND_CREDIT_FA6

DEBT OBLIGATIONS AND CREDIT FACILITIES - Revolving Bank Credit Facilities and Term Loans Outstanding of Consolidated Funds (Detail) (Consolidated Funds)

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

USD ($)

Credit Facility 1

Variable Rate Notes

Variable Rate Notes 1

Variable Rate Notes 2

Variable Rate Notes 3

Variable Rate Notes 4

Variable Rate Notes 5

Credit Facility 2

Revolving Credit Facility

Revolving Credit Facility 1

Revolving Credit Facility 2

Revolving Credit Facility 3

Revolving Credit Facility 4

Revolving Credit Facility 5

Euro Denominated Revolving Credit Facility 1

Euro Denominated Revolving Credit Facility 2

Revolving Credit Facility 6

Revolving Credit Facility 7

Revolving Credit Facility 8

Revolving Credit Facility 9

Revolving Credit Facility 10

Revolving Credit Facility 11

Revolving Credit Facility 12

Credit facility 3

Standby Letters of Credit

11-Feb-16

11-Mar-15

LIBOR

USD ($)

EUR (€)

USD ($)

EUR (€)

USD ($)

Credit facility 3

Through April 11, 2015

After April 11, 2015

USD ($)

Credit Facility 2

Line of Credit Facility [Line Items]

Outstanding Amount

$4,325,504,000

$2,297,181,000

$434,000,000

[1]

$434,000,000

[1]

$249,500,000

[1]

$249,500,000

[1]

$499,221,000

[1]

$498,916,000

[1]

$402,410,000

[1]

$402,375,000

[1]

$64,500,000

[1]

$64,500,000

[1]

$420,000,000

[1]

$84,316,000

[1]

[1],[2]

$198,551,000

$500,000,000

$400,000,000

$85,200,000

$67,000,000

$27,325,000

$35,000,000

$676,287,000

$13,090,000

$77,135,000

$2,800,000

$100,000,000

$165,000,000

$120,200,000

$28,850,000

$58,265,000

$70,719,000

$194,025,000

[3]

$31,900,000

$162,100,000

Facility Capacity

435,000,000

[1]

249,500,000

[1]

500,000,000

[1]

402,500,000

[1]

64,500,000

[1]

420,000,000

[1]

86,000,000

[1]

650,000,000

[1],[2]

350,000,000

500,000,000

150,000,000

125,000,000

55,000,000

40,000,000

550,000,000

100,000,000

10,000,000

350,000,000

150,000,000

35,000,000

61,000,000

70,000,000

100,000,000

194,025,000

[3]

LIBOR margin (as a percent)

1.45%

[1],[4]

1.55%

[1],[4]

1.20%

[1],[4]

1.20%

[1],[4]

1.65%

[1],[4]

1.47%

[1],[4]

2.10%

[1],[4]

1.25%

[1],[2],[4]

2.50%

[4]

1.60%

[4]

1.75%

[4]

1.75%

[4]

2.00%

[4]

1.50%

[4]

1.65%

[4]

1.65%

[4]

1.95%

[4]

1.95%

[4]

2.25%

[4]

1.65%

[4]

1.60%

[4]

1.50%

[4]

2.95%

[4]

3.58%

[4]

1.60%

[4]

2.04%

[3],[4]

1.25%

2.50%

Maturity

14-Nov-18

[1]

20-Oct-22

[1]

20-Apr-23

[1]

20-Jul-23

[1]

20-Jul-23

[1]

15-Aug-15

[1]

15-Aug-15

[1]

11-Apr-17

[1],[2]

14-Aug-15

26-Jun-15

15-Dec-14

20-May-15

15-Dec-15

5-Dec-14

25-Feb-16

2-Feb-16

1-Sep-14

22-Mar-15

16-Jan-17

11-Dec-15

15-Mar-19

19-Jun-15

8-Sep-16

Commitment Fee Rate (as a percent)

0.25%

0.35%

0.30%

0.25%

0.40%

0.38%

0.25%

0.20%

0.25%

L/C fee

2.00%

[5]

1.50%

[5]

1.65%

[5]

1.65%

[5]

1.95%

[5]

1.95%

[5]

1.60%

[5]

2.00%

[5]

Outstanding standby letters of credit

$42,881,000

$55,954,000

[1]

The credit facility is collateralized by the portfolio investments and cash and cash-equivalents of the fund.

[2]

The LIBOR margin is 1.25% through April 11, 2015, and 2.50% thereafter.

[3]

The credit facility is collateralized by specific investments of the fund. Of the total balance outstanding, $162.1 million matures on March 11, 2015 and the remaining $31.9 million matures on February 11, 2016.

[4]

The facilities bear interest, at the borrowerbs option, at (a)B an annual rate of LIBOR plus the applicable margin or (b)B an alternate base rate, as defined in the respective credit agreement.

[5]

Certain facilities allow for the issuance of letters of credit at an applicable annual fee. As of September 30, 2014 and December 31, 2013, outstanding standby letters of credit totaled $42,881 and $55,954, respectively.

DEBT_OBLIGATIONS_AND_CREDIT_FA7

DEBT OBLIGATIONS AND CREDIT FACILITIES - Collateralized Loan Obligation Loans Payable (Details) (USD $)

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Consolidated Funds

Collateralized Loan Obligations

Estimate of Fair Value Measurement [Member]

Senior variable rate notes 2

Consolidated Funds

Collateralized Loan Obligations

Minimum

Maximum

Senior variable rate notes 1

Senior variable rate notes 2

Senior variable rate notes 3

Junior subordinated debt

Consolidated Funds

Senior variable rate notes 1

Senior variable rate notes 2

Senior variable rate notes 3

Junior subordinated debt

LIBOR

EURIBOR

Debt Instrument [Line Items]

Debt obligations

$850,000,000

$579,464,000

$978,526,000

$456,433,000

[1]

$74,676,000

[2]

$422,785,000

[3]

$24,632,000

[4]

Collateralized loan obligation loans payable

975,481,000

[5]

458,856,000

[1],[5]

74,676,000

[2],[5]

417,317,000

[3],[5]

24,632,000

[4],[5]

Weighted Average Interest Rate (as a percent)

2.25%

[1]

2.59%

[2]

2.58%

[3]

2.01%

2.21%

Weighted Average Remaining Maturity (in years)

'10 years 6 months

[1]

'4 years 3 months 18 days

[2]

'13 years

[3]

'13 years

[4]

Unused commitment fee (as a percent)

0.00%

2.00%

Assets backing the obligation

$1,300,000,000

[1]

The weighted average interest rate was LIBOR plus 2.01%.

[2]

The interest rate was LIBOR plus a margin determined based on a formula as defined in the respective borrowing agreements, which incorporate different borrowing values based on the characteristics of collateral investments purchased. The weighted average unused commitment fee rate ranged from 0% to 2.0%.

[3]

The weighted average interest rate was EURIBOR plus 2.21%

[4]

The subordinated note does not have a contractual interest rate; instead, it receives distributions from the excess cash flows generated by the CLO. The carrying value approximates fair value due to the recent issuance date.

[5]

DEBT_OBLIGATIONS_AND_CREDIT_FA8

DEBT OBLIGATIONS AND CREDIT FACILITIES - Future Principal Payments with Respect to the CLO Loans Payable (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Debt Instrument [Line Items]	'	'
Remainder of 2014	$0	'
2015	0	'
2016	100,000,000	'
2017	0	'
2018	0	'
Thereafter	750,000,000	'
Total	850,000,000	579,464,000
Consolidated Funds	'	'
Debt Instrument [Line Items]	'	'
Total	978,526,000	0
Collateralized Loan Obligations \| Consolidated Funds	'	'
Debt Instrument [Line Items]	'	'
Total	978,526,000	'
Collateralized Loan Obligations \| Consolidated Funds \| CLO	'	'
Debt Instrument [Line Items]	'	'
Remainder of 2014	0	'
2015	0	'
2016	0	'
2017	0	'
2018	74,676,000	'
Thereafter	903,850,000	'
Total	$978,526,000	'

NONCONTROLLING_REDEEMABLE_INTE2

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS - Summary of Changes in Non-controlling Redeemable Interests in Consolidated Funds (Detail) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Non-Controlling Redeemable Interests in Consolidated Funds [Roll Forward]	'	'
Beginning balance	$38,834,831	$39,670,831
Contributions	7,250,262	4,613,588
Distributions	-5,971,132	-10,033,373
Net income	1,842,779	3,743,327
Change in distributions payable	-944	234,409
Change in accrued or deferred contributions	-7,000	3,525
Initial consolidation of a fund	902,979	0
Foreign currency translation and other	-388,447	97,605
Ending balance	$42,463,328	$38,329,912

UNITHOLDERS_CAPITAL_Additional

UNITHOLDERS' CAPITAL - Additional Information (Detail) (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013		Dec. 31, 2013	Dec. 31, 2012
Class of Stock [Line Items]	'		'		'		'		'	'
Net income attributable to other non-controlling interests	$67,551		$129,408		$322,922		$617,191		'	'
Total unitholdersb capital	1,850,871		1,551,507		1,850,871		1,551,507		1,708,378	1,393,893
OCGH	'		'		'		'		'	'
Class of Stock [Line Items]	'		'		'		'		'	'
Net income attributable to other non-controlling interests	64,683	[1]	129,408	[1]	320,054	[1]	617,191	[1]	'	'
Unitholders' capital (in shares)	109,372,950		'		109,372,950		'		112,584,211	'
Total unitholdersb capital	1,182,522		'		1,182,522		'		1,234,169	'
Oaktree Operating Group	'		'		'		'		'	'
Class of Stock [Line Items]	'		'		'		'		'	'
Net income attributable to other non-controlling interests	'		'		2,868		'		'	'
Total Oaktree Operating Group units (in shares)	152,852,620		'		152,852,620		'		151,056,717	'
Total unitholdersb capital	1,652,806		'		1,652,806		'		1,655,911	'
Equity Held by Third Parties	'		'		'		'		'	'
Class of Stock [Line Items]	'		'		'		'		'	'
Total unitholdersb capital	$76,399		'		$76,399		'		'	'

[1]	Because adjusted net income is calculated at the Operating Group level, this adjustment adds back the effect of items applicable to OCG, its Intermediate Holding Companies or the OCGH non-controlling interest.

UNITHOLDERS_CAPITAL_Summary_of

UNITHOLDERS' CAPITAL - Summary of Net Income (Loss) (Detail) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Weighted average Oaktree Operating Group units outstanding (in thousands):	'		'		'		'
Weighted average number of Class A units outstanding (in shares)	43,480		38,239		42,234		33,845
Oaktree Operating Group net income:	'		'		'		'
Oaktree Operating Group net income:	($578,960)		$1,089,231		$2,268,467		$4,517,609
Net income (loss) attributable to Oaktree Capital Group, LLC:	'		'		'		'
Income tax expense of Intermediate Holding Companies	-5,341	[1]	-726	[1]	-19,088	[1]	-18,874	[1]
Net income attributable to Oaktree Capital Group, LLC	18,913		42,948		101,893		157,091
OCGH non-controlling interest	'		'		'		'
Weighted average Oaktree Operating Group units outstanding (in thousands):	'		'		'		'
Weighted average number of Class A units outstanding (in shares)	109,329		112,791		110,362		117,103
Oaktree Operating Group net income:	'		'		'		'
Oaktree Operating Group net income:	64,683		129,408		320,054		617,191
Class A Unitholders	'		'		'		'
Weighted average Oaktree Operating Group units outstanding (in thousands):	'		'		'		'
Weighted average number of Class A units outstanding (in shares)	43,480		38,239		42,234		33,845
Oaktree Operating Group net income:	'		'		'		'
Oaktree Operating Group net income:	25,725		43,875		119,957		172,631
Oaktree Operating Group	'		'		'		'
Weighted average Oaktree Operating Group units outstanding (in thousands):	'		'		'		'
Weighted average number of Class A units outstanding (in shares)	152,809		151,030		152,596		150,948
Oaktree Operating Group net income:	'		'		'		'
Oaktree Operating Group net income:	90,408	[2]	173,283	[2]	440,011	[2]	789,822	[2]
Oaktree Capital Group, LLC	'		'		'		'
Net income (loss) attributable to Oaktree Capital Group, LLC:	'		'		'		'
Oaktree Operating Group net income attributable to Class A unitholders	25,725		43,875		119,957		172,631
Non-Operating Group expenses	-264		-271		-1,149		-947
Income tax expense of Intermediate Holding Companies	-6,548		-656		-16,915		-14,593
Net income attributable to Oaktree Capital Group, LLC	$18,913		$42,948		$101,893		$157,091

[1]	Because adjusted net income is a pre-tax measure, this adjustment eliminates the effect of income tax expense from adjusted net income.
[2]	Oaktree Operating Group net income attributable to other non-controlling interests was $2,868.

UNITHOLDERS_CAPITAL_Changes_in

UNITHOLDERS' CAPITAL - Changes in Company Ownership Interest (Detail) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Stockholders' Equity Note [Abstract]	'	'	'	'
Net income attributable to Oaktree Capital Group, LLC	$18,913	$42,948	$101,893	$157,091
Equity reallocation between controlling and non-controlling interests	-391	-160	48,725	76,685
Change from net income attributable to Oaktree Capital Group, LLC and transfers from (to) non-controlling interest	$18,522	$42,788	$150,618	$233,776

UNITHOLDERS_CAPITAL_Offering_D

UNITHOLDERS' CAPITAL - Offering (Details) (Class A Units, USD $)	0 Months Ended	9 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 10, 2014	Sep. 30, 2014	Sep. 30, 2013
Class A Units	'	'	'
Class of Stock [Line Items]	'	'	'
Issuance of units (in shares)	5,000,000	5,007,000	8,058,000
Proceeds from issuance of Class A units, net	$296,700	'	'

EARNINGS_PER_UNIT_Computations

EARNINGS PER UNIT - Computations of Net Income (Loss) Per Unit (Detail) (USD $)	3 Months Ended				9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Weighted average units outstanding: (in shares)	'		'		'		'
Class A units outstanding	43,480		38,239		42,234		33,845
OCGH units exchangeable into Class A units	0	[1]	0	[1]	0	[1]	0	[1]
Total weighted average units outstanding	43,480		38,239		42,234		33,845
Net income per Class A unit:	'		'		'		'
Net income	$18,913		$42,948		$101,893		$157,091
Weighted average number of Class A units outstanding (in shares)	43,480		38,239		42,234		33,845
Net income per Class A unit (in dollars per share)	$0.43		$1.12		$2.41		$4.64

[1]	Vested OCGH units are potentially exchangeable on a one-for-one basis into ClassB A units. As of September 30, 2014, there were 109,372,950 OCGH units outstanding, accordingly, the Company may cumulatively issue up to 109,372,950 additional ClassB A units through AugustB 1, 2024 if all such units were exchanged. For all periods presented, OCGH units have been excluded from the calculation of diluted earnings per unit because the exchange of these units would proportionally increase Oaktree Capital Group, LLCbs interest in the Oaktree Operating Group and could have an anti-dilutive effect on earnings per unit to the extent that tax-related or other expenses were incurred by the Company as a result of the exchange.

EARNINGS_PER_UNIT_Computations1

EARNINGS PER UNIT - Computations of Net Income (Loss) Per Unit (Parenthetical) (Detail)	9 Months Ended
	Sep. 30, 2014
OCGH Units	'
Earnings Per Share [Line Items]	'
Antidilutive securities excluded from computation of earnings per share, share exchange ratio	1
OCGH Issued (in shares)	109,372,950
Class A Units	'
Earnings Per Share [Line Items]	'
Antidilutive securities excluded from computation of earnings per share, share exchange ratio	1
OCGH units represented (in shares)	109,372,950

EQUITYBASED_COMPENSATION_Addit

EQUITY-BASED COMPENSATION - Additional Information (Detail) (USD $)	3 Months Ended	6 Months Ended	9 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Number of units granted (in shares)	'	'	1,770,418
Discount from market price (as a percent)	20.00%	25.00%	'
Forfeiture rate (as a percent)	'	'	1.50%
Unrecognized compensation expense on non-vested equity-based awards	$145.20	'	$145.20
Weighted average period of recognition non-vested equity-based awards (in years)	'	'	'4 years 9 months 6 days
Restricted Unit Awards	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Weighted average vesting period (in years)	'	'	'5 years 6 months
OCGH Units	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Number of units granted (in shares)	'	'	1,770,418
Class A Units	'	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'	'
Number of units granted (in shares)	'	'	7,164

EQUITYBASED_COMPENSATION_Summa

EQUITY-BASED COMPENSATION - Summary of Unvested Equity-Based Awards and Changes (Detail) (USD $)	9 Months Ended
	Sep. 30, 2014
Number of Units (in shares)	'
Granted	1,770,418
Class A Units	'
Number of Units (in shares)	'
Beginning balance	16,582
Granted	7,164
Vested	-4,697
Forfeited	0
Ending balance	19,049
Weighted Average Grant Date Fair Value (in dollars per share)	'
Beginning balance	45.34
Granted	58.88
Vested	44.54
Forfeited	0
Ending balance	50.63
OCGH Units	'
Number of Units (in shares)	'
Beginning balance	4,465,722
Granted	1,770,418
Vested	-1,073,170
Forfeited	-55,978
Ending balance	5,106,992
Weighted Average Grant Date Fair Value (in dollars per share)	'
Beginning balance	30.3
Granted	43.98
Vested	24.63
Forfeited	34.42
Ending balance	36.19

EQUITYBASED_COMPENSATION_Sched

EQUITY-BASED COMPENSATION - Schedule of Unvested Units Expected to Vest (Detail)	9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013
Class A Units	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Number of Units (in shares)	19,049	16,582
Weighted Average Remaining Service Term (in years)	'3 years 0 months 0 days	'
OCGH Units	'	'
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Number of Units (in shares)	5,106,992	4,465,722
Weighted Average Remaining Service Term (in years)	'4 years 9 months 6 days	'

INCOME_TAXES_AND_RELATED_PAYME1

INCOME TAXES AND RELATED PAYMENTS (Details) (USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
	Sep. 30, 2014	Minimum	Maximum
Operating Loss Carryforwards [Line Items]	'	'	'
Decreases resulting from settlements with taxing authorities	($2.80)	$2	$3
Deferred tax asset related to unitholders under tax receivable agreement	94.2	'	'
Liability payments under tax receivable agreement	80	'	'
Net tax benefit	$14.10	'	'

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Detail)

9 Months Ended

0 Months Ended

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Feb. 25, 2014

Dec. 31, 2013

Dec. 20, 2012

Feb. 25, 2014

Sep. 30, 2014

Aug. 01, 2014

Sep. 30, 2014

USD ($)

Consolidated Funds

Revolving Credit Facility

Existing Revolving Credit Facility

Line of Credit

EURIBOR

Highstar Capital

USD ($)

Support Provided Pursuant to Contractual Agreements

Support Provided at the Discretion of the Company

Consolidated Funds

Revolving Credit Facility

Existing Revolving Credit Facility

Consolidated Funds

USD ($)

Financial Support

USD ($)

Consolidated Funds

USD ($)

EUR (€)

USD ($)

GBP (£)

EUR (€)

Contingencies And Commitments [Line Items]

Claims for damages

$800,000,000

Accrued incentives (fund level)

2,071,720,000

2,211,979,000

Compensation expense related to accrued incentives (fund level)

996,538,000

994,879,000

Contingent consideration

60,000,000

Performance period (in years)

'7 years

Contingent consideration

25,600,000

Capital commitments

344,900,000

327,300,000

Aggregate potential credit and investment commitments

1,292,700,000

1,307,900,000

Facility capacity

350,000,000

500,000,000

550,000,000

200,000,000

130,000,000

Contractual term (in years)

'3 years

Commitment fee payable on unused funds (as a percent)

1.00%

Euribor margin (as a percent)

2.50%

[1]

1.60%

[1]

2.00%

Borrowings under credit facilities

4,325,504,000

2,297,181,000

198,551,000

500,000,000

400,000,000

317,000,000

Other commitment

$757,100,000

$6,400,000,000

[1]

The facilities bear interest, at the borrowerbs option, at (a)B an annual rate of LIBOR plus the applicable margin or (b)B an alternate base rate, as defined in the respective credit agreement.

RELATEDPARTY_TRANSACTIONS_Amou

RELATED-PARTY TRANSACTIONS - Amounts Due from and Due to Affiliates (Detail) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Due from affiliates:	'	'
Loans	$40,872	$41,095
Amounts due from non-consolidated funds	1,655	1,220
Payments made on behalf of non-consolidated entities	3,559	3,272
Non-interest bearing advances made to certain non-controlling interest holders and employees	1,686	2,187
Total due from affiliates	47,772	47,774
Due to affiliates:	'	'
Due to OCGH unitholders in connection with the tax receivable agreement	320,940	240,911
Amounts due to senior executives, certain non-controlling interest holders and employees	490	2,075
Total due to affiliates	$321,430	$242,986

RELATEDPARTY_TRANSACTIONS_Addi

RELATED-PARTY TRANSACTIONS - Additional Information (Detail) (USD $)	9 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2014
			Level III	Level III	Discounted cash flow	Minimum	Maximum
					Affiliates	Discounted cash flow	Discounted cash flow
					Level III	Affiliates	Affiliates
						Level III	Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'	'	'	'	'
Average interest rate (as a percent)	'	'	'	'	'	2.00%	3.00%
Due to affiliates	'	'	$168,386	$123,497	'	'	'
Discount rate (as a percent)	'	'	'	'	10.00%	'	'
Interest income	$1,163	$1,283	'	'	'	'	'

SEGMENT_REPORTING_Adjusted_Net

SEGMENT REPORTING - Adjusted Net Income (Detail) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Revenues:	'		'		'		'
Management fees	$54,243	[1]	$56,786	[1]	$146,234	[2]	$149,422	[1]
Incentive income	0	[1]	0	[1]	0	[1]	2,317	[1]
Total revenues	54,243		56,786		146,234		151,739
Expenses:	'		'		'		'
Compensation and benefits	-101,482		-95,660		-292,509		-279,638
Equity-based compensation	-10,557		-7,320		-30,226		-20,877
Incentive income compensation	-43,048		-49,222		-170,801		-308,446
General and administrative	-15,294		-31,094		-79,197		-80,227
Depreciation and amortization	-2,402		-1,791		-6,138		-5,266
Total expenses	-252,401	[3]	-214,158	[4]	-726,105	[3]	-775,203	[5]
Interest expense, net of interest income	-34,564	[6]	-17,337	[6]	-84,263	[6]	-42,931	[6]
Other income, net	2,695	[7]	148		1,006	[8]	412
Investment Management	'		'		'		'
Revenues:	'		'		'		'
Management fees	194,509	[1]	185,580	[1]	572,028	[2]	552,281	[1]
Incentive income	86,324	[1]	122,424	[1]	438,398	[1]	787,665	[1]
Investment income (loss)	-2,361		53,558		98,318		170,184
Total revenues	278,472		361,562		1,108,744		1,510,130
Expenses:	'		'		'		'
Compensation and benefits	-99,402		-95,561		-290,234		-279,344
Equity-based compensation	-5,185		-1,070		-14,279		-2,646
Incentive income compensation	-39,814		-49,222		-207,789		-308,446
General and administrative	-29,687		-27,389		-91,380		-80,889
Depreciation and amortization	-1,914		-1,791		-5,650		-5,266
Total expenses	-176,002	[3]	-175,033	[4]	-609,332	[3]	-676,591	[5]
Adjusted net income before interest and other income (expense)	102,470		186,529		499,412		833,539
Interest expense, net of interest income	-7,419	[6],[9]	-7,074	[6],[9]	-20,978	[6],[9]	-21,617	[6],[9]
Other income, net	10	[7]	148		-1,679	[8]	412
Adjusted net income	$95,061		$179,603		$476,755		$812,334

[1]	The adjustment represents the elimination of amounts earned from the consolidated funds.
[2]	{F\|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmM5YjU1ZmM1ODEyZDQwYzhhZmI0ZTg1YTZjZGI0ODgwfFRleHRTZWxlY3Rpb246RTk1REU4ODM4M0MxNzc2NjM2OEQyMzlBMkU3MThFQzUM}
[3]	The expense adjustment consists of (a)B equity-based compensation charges of $5,372 related to unit grants made before the Companybs initial public offering, (b)B consolidated fund expenses of $64,356, (c)B expenses incurred by the Intermediate Holding Companies of $264, (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $3,234, (e) acquisition-related amortization of intangibles of $488 and (f) adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP of $2,685.
[4]	The expense adjustment consists of (a)B equity-based compensation charges of $6,250 related to unit grants made before the Companybs initial public offering, (b)B consolidated fund expenses of $32,604 and (c)B expenses incurred by the Intermediate Holding Companies of $271.
[5]	The expense adjustment consists of (a)B equity-based compensation charges of $18,231 related to unit grants made before the Companybs initial public offering, (b)B consolidated fund expenses of $79,434 and (c)B expenses incurred by the Intermediate Holding Companies of $947.
[6]	The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income.
[7]	The adjustment to other income, net represents adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP.
[8]	The adjustment to other income (expense), net represents adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP.
[9]	Interest income was $0.9 million for both the three months ended September 30, 2014 and 2013, respectively, and $2.7 million and $2.4 million for the nine months ended September 30, 2014 and 2013, respectively.

SEGMENT_REPORTING_Adjusted_Net1

SEGMENT REPORTING - Adjusted Net Income (Parenthetical) (Detail) (Investment Management, USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013
Investment Management	'	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'	'
Interest income	$0.90	$2.70	$2.40

SEGMENT_REPORTING_Reconciliati

SEGMENT REPORTING - Reconciliation of Net Income Attributable to Oaktree Capital Group, LLC to Adjusted Net Income (Detail) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Segment Reporting Information [Line Items]	'		'		'		'
Net income attributable to Oaktree Capital Group, LLC	$18,913		$42,948		$101,893		$157,091
Equity-based compensation	10,557		7,320		30,226		20,877
Income taxes	5,341	[1]	726	[1]	19,088	[1]	18,874	[1]
Non-Operating Group expenses	264	[2]	271	[2]	1,149	[2]	947	[2]
OCGH non-controlling interest	67,551		129,408		322,922		617,191
OCGH Units Prior to Initial Public Offering in April 2012	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
Equity-based compensation	5,372	[3]	6,250	[3]	15,947	[3]	18,231	[3]
Adjustments	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
Net income attributable to Oaktree Capital Group, LLC	-76,148		-136,655		-374,862		-655,243
Incentive income	-3,234	[4]	0	[4]	55,124	[4]	0	[4]
Incentive income compensation	3,234	[4]	0	[4]	-36,988	[4]	0	[4]
Amortization of intangibles	488		0		488		0
Income taxes	5,341		726		19,088		18,874
OCGH non-controlling interest	67,551		129,408		322,922		617,191
Investment Management	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
Net income attributable to Oaktree Capital Group, LLC	95,061		179,603		476,755		812,334
Equity-based compensation	5,185		1,070		14,279		2,646
Income taxes	0		0		0		0
OCGH non-controlling interest	0		0		0		0
Adjusted net income	95,061		179,603		476,755		812,334
OCGH	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
OCGH non-controlling interest	$64,683	[2]	$129,408	[2]	$320,054	[2]	$617,191	[2]

[1]	Because adjusted net income is a pre-tax measure, this adjustment eliminates the effect of income tax expense from adjusted net income.
[2]	Because adjusted net income is calculated at the Operating Group level, this adjustment adds back the effect of items applicable to OCG, its Intermediate Holding Companies or the OCGH non-controlling interest.
[3]	This adjustment adds back the effect of equity-based compensation charges related to unit grants made before the Companybs initial public offering, which is excluded from adjusted net income because it is a non-cash charge that does not affect the Companybs financial position.
[4]	This adjustment adds back the effect of timing differences associated with the recognition of incentive income and incentive income compensation expense between adjusted net income and net income attributable to OCG. There were no adjustments attributable to timing differences for the three and nine months ended September 30, 2013.

SEGMENT_REPORTING_Schedule_of_

SEGMENT REPORTING - Schedule of Reconciliation of Total Segments to Income Loss Attributable to Oaktree Capital Group, LLC and Total Assets (Detail) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013		Dec. 31, 2013
Segment Reporting, Asset Reconciling Item [Line Items]	'		'		'		'		'
Management fees	$54,243	[1]	$56,786	[1]	$146,234	[2]	$149,422	[1]	'
Incentive income	0	[1]	0	[1]	0	[1]	2,317	[1]	'
Investment income (loss)	5,768	[1]	11,468	[1]	15,149	[1]	22,600	[1]	'
Total expenses	-252,401	[3]	-214,158	[4]	-726,105	[3]	-775,203	[5]	'
Interest expense, net	-34,564	[6]	-17,337	[6]	-84,263	[6]	-42,931	[6]	'
Other income, net	2,695	[7]	148		1,006	[8]	412		'
Other income (loss) of Consolidated Funds	-349,360	[9]	1,253,050	[6]	2,935,534	[9]	5,179,866	[9]	'
Income taxes	-5,341	[10]	-726	[10]	-19,088	[10]	-18,874	[10]	'
Net income attributable to non-controlling interests in consolidated subsidiaries	-67,551		-129,408		-322,922		-617,191		'
Net income attributable to Oaktree Capital Group, LLC	18,913		42,948		101,893		157,091		'
Corporate investments	140,736	[11]	90,680	[12]	140,736	[11]	90,680	[12]	169,927
Total assets	52,647,451	[13]	44,701,181	[13]	52,647,451	[13]	44,701,181	[13]	45,263,254
Investment Management	'		'		'		'		'
Segment Reporting, Asset Reconciling Item [Line Items]	'		'		'		'		'
Management fees	194,509	[1]	185,580	[1]	572,028	[2]	552,281	[1]	'
Incentive income	86,324	[1]	122,424	[1]	438,398	[1]	787,665	[1]	'
Investment income (loss)	-2,361	[1]	53,558	[1]	98,318	[1]	170,184	[1]	'
Total expenses	-176,002	[3]	-175,033	[4]	-609,332	[3]	-676,591	[5]	'
Interest expense, net	-7,419	[14],[6]	-7,074	[14],[6]	-20,978	[14],[6]	-21,617	[14],[6]	'
Other income, net	10	[7]	148		-1,679	[8]	412		'
Other income (loss) of Consolidated Funds	0	[9]	0	[6]	0	[9]	0	[9]	'
Income taxes	0		0		0		0		'
Net income attributable to non-controlling interests in consolidated subsidiaries	0		0		0		0		'
Net income attributable to Oaktree Capital Group, LLC	95,061		179,603		476,755		812,334		'
Corporate investments	1,465,211	[11]	1,100,500	[12]	1,465,211	[11]	1,100,500	[12]	'
Total assets	3,245,514	[13]	2,649,360	[13]	3,245,514	[13]	2,649,360	[13]	'
Adjustments	'		'		'		'		'
Segment Reporting, Asset Reconciling Item [Line Items]	'		'		'		'		'
Management fees	-140,266	[1]	-128,794	[1]	-425,794	[2]	-402,859	[1]	'
Incentive income	-86,324	[1]	-122,424	[1]	-438,398	[1]	-785,348	[1]	'
Investment income (loss)	8,129	[1]	-42,090	[1]	-83,169	[1]	-147,584	[1]	'
Total expenses	-76,399	[3]	-39,125	[4]	-116,773	[3]	-98,612	[5]	'
Interest expense, net	-27,145	[6]	-10,263	[6]	-63,285	[6]	-21,314	[6]	'
Other income, net	2,685	[7]	0		2,685	[8]	0		'
Other income (loss) of Consolidated Funds	-349,360	[9]	1,253,050	[6]	2,935,534	[9]	5,179,866	[9]	'
Income taxes	-5,341		-726		-19,088		-18,874		'
Net income attributable to non-controlling interests in consolidated subsidiaries	-67,551		-129,408		-322,922		-617,191		'
Net income attributable to Oaktree Capital Group, LLC	-76,148		-136,655		-374,862		-655,243		'
Corporate investments	-1,324,475	[11]	-1,009,820	[12]	-1,324,475	[11]	-1,009,820	[12]	'
Total assets	49,401,937	[13]	42,051,821	[13]	49,401,937	[13]	42,051,821	[13]	'
Non-controlling Interests in Consolidated Funds	'		'		'		'		'
Segment Reporting, Asset Reconciling Item [Line Items]	'		'		'		'		'
Net income (loss) attributable to non-controlling interests in consolidated funds	665,424		-916,875	[6]	-1,843,652		-3,743,327		'
Net income attributable to non-controlling interests in consolidated subsidiaries	665,424		-916,875		-1,843,652		-3,743,327		'
Non-controlling Interests in Consolidated Funds \| Investment Management	'		'		'		'		'
Segment Reporting, Asset Reconciling Item [Line Items]	'		'		'		'		'
Net income (loss) attributable to non-controlling interests in consolidated funds	0		0	[6]	0		0		'
Non-controlling Interests in Consolidated Funds \| Adjustments	'		'		'		'		'
Segment Reporting, Asset Reconciling Item [Line Items]	'		'		'		'		'
Net income (loss) attributable to non-controlling interests in consolidated funds	$665,424		($916,875)	[6]	($1,843,652)		($3,743,327)		'

[1]	The adjustment represents the elimination of amounts earned from the consolidated funds.
[2]	{F\|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOmM5YjU1ZmM1ODEyZDQwYzhhZmI0ZTg1YTZjZGI0ODgwfFRleHRTZWxlY3Rpb246RTk1REU4ODM4M0MxNzc2NjM2OEQyMzlBMkU3MThFQzUM}
[3]	The expense adjustment consists of (a)B equity-based compensation charges of $5,372 related to unit grants made before the Companybs initial public offering, (b)B consolidated fund expenses of $64,356, (c)B expenses incurred by the Intermediate Holding Companies of $264, (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $3,234, (e) acquisition-related amortization of intangibles of $488 and (f) adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP of $2,685.
[4]	The expense adjustment consists of (a)B equity-based compensation charges of $6,250 related to unit grants made before the Companybs initial public offering, (b)B consolidated fund expenses of $32,604 and (c)B expenses incurred by the Intermediate Holding Companies of $271.
[5]	The expense adjustment consists of (a)B equity-based compensation charges of $18,231 related to unit grants made before the Companybs initial public offering, (b)B consolidated fund expenses of $79,434 and (c)B expenses incurred by the Intermediate Holding Companies of $947.
[6]	The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income.
[7]	The adjustment to other income, net represents adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP.
[8]	The adjustment to other income (expense), net represents adjustments related to amounts received for contractually reimbursable costs that are included with segment expenses, as compared to being recorded as other income under GAAP.
[9]	The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to non-controlling interests of the consolidated funds.
[10]	Because adjusted net income is a pre-tax measure, this adjustment eliminates the effect of income tax expense from adjusted net income.
[11]	The adjustment to corporate investments is to remove from segment assets the Companybs investments in the consolidated funds, including investments in its CLOs, that are treated as equity- or cost-method investments for segment reporting. Of the $1.5 billion, equity-method investments accounted for $1.3 billion.
[12]	The adjustment to corporate investments is to remove from segment assets the Companybs investments in the consolidated funds that are treated as equity-method investments for segment reporting.
[13]	The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable.
[14]	Interest income was $0.9 million for both the three months ended September 30, 2014 and 2013, respectively, and $2.7 million and $2.4 million for the nine months ended September 30, 2014 and 2013, respectively.

SEGMENT_REPORTING_Schedule_of_1

SEGMENT REPORTING - Schedule of Reconciliation of Total Segments to Income Loss Attributable to Oaktree Capital Group, LLC and Total Assets (Parenthetical) (Detail) (USD $)	3 Months Ended				9 Months Ended
	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013		Dec. 31, 2013
Segment Reporting, Asset Reconciling Item [Line Items]	'		'		'		'		'
Equity-based compensation	$10,557,000		$7,320,000		$30,226,000		$20,877,000		'
Consolidated fund expenses	64,356,000		32,604,000		133,492,000		79,434,000		'
Expenses incurred by Intermediate Holding Companies	264,000		271,000		1,149,000		947,000		'
Corporate investments	140,736,000	[1]	90,680,000	[2]	140,736,000	[1]	90,680,000	[2]	169,927,000
Investment Management	'		'		'		'		'
Segment Reporting, Asset Reconciling Item [Line Items]	'		'		'		'		'
Equity-based compensation	5,185,000		1,070,000		14,279,000		2,646,000		'
Corporate investments	1,465,211,000	[1]	1,100,500,000	[2]	1,465,211,000	[1]	1,100,500,000	[2]	'
Investment Management \| Equity Method Investments	'		'		'		'		'
Segment Reporting, Asset Reconciling Item [Line Items]	'		'		'		'		'
Equity Method Investments	1,300,000,000		'		1,300,000,000		'		'
Adjustments	'		'		'		'		'
Segment Reporting, Asset Reconciling Item [Line Items]	'		'		'		'		'
Incentive income compensation	3,234,000	[3]	0	[3]	-36,988,000	[3]	0	[3]	'
Amortization of intangibles	488,000		0		488,000		0		'
Reimbursable expenses	2,685,000		'		2,685,000		'		'
Corporate investments	-1,324,475,000	[1]	-1,009,820,000	[2]	-1,324,475,000	[1]	-1,009,820,000	[2]	'
OCGH Units Prior to Initial Public Offering in April 2012	'		'		'		'		'
Segment Reporting, Asset Reconciling Item [Line Items]	'		'		'		'		'
Equity-based compensation	$5,372,000	[4]	$6,250,000	[4]	$15,947,000	[4]	$18,231,000	[4]	'

[1]	The adjustment to corporate investments is to remove from segment assets the Companybs investments in the consolidated funds, including investments in its CLOs, that are treated as equity- or cost-method investments for segment reporting. Of the $1.5 billion, equity-method investments accounted for $1.3 billion.
[2]	The adjustment to corporate investments is to remove from segment assets the Companybs investments in the consolidated funds that are treated as equity-method investments for segment reporting.
[3]	This adjustment adds back the effect of timing differences associated with the recognition of incentive income and incentive income compensation expense between adjusted net income and net income attributable to OCG. There were no adjustments attributable to timing differences for the three and nine months ended September 30, 2013.
[4]	This adjustment adds back the effect of equity-based compensation charges related to unit grants made before the Companybs initial public offering, which is excluded from adjusted net income because it is a non-cash charge that does not affect the Companybs financial position.

SUBSEQUENT_EVENTS_Detail

SUBSEQUENT EVENTS (Detail) (Subsequent Event, USD $)	Nov. 06, 2014	Oct. 30, 2014	Oct. 06, 2014	Oct. 06, 2014
In Millions, except Share data, unless otherwise specified	Nov. 06, 2014	Class A Units	Chief Executive Officer	Chief Executive Officer
Class of Stock [Line Items]	'	'	'	'
Shares granted	'	'	2,000,000	'
Base value	'	'	'	$61
Dividend declared (in dollars per share)	'	$0.62	'	'
Future minimum lease payments, remainder of 2014	$1.20	'	'	'
2015	4.7	'	'	'
2016	4.6	'	'	'
2017	1.7	'	'	'
2018	5.1	'	'	'
Thereafter	$68.50	'	'	'