Oaktree Capital (OAK-PB) 10-Q 6 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 03, 2015
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	OAK
Entity Registrant Name	Oaktree Capital Group, LLC
Entity Central Index Key	1,403,528
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Class A Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		48,371,659
Class B Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		105,637,501

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Assets
Cash and cash-equivalents	$ 310,741	$ 408,296
U.S. Treasury securities	681,197	655,529
Corporate investments (includes $18,115 and $40,814 measured at fair value as of June 30, 2015 and December 31,2014, respectively)	176,678	187,963
Due from affiliates	41,742	46,881
Deferred tax assets	430,756	357,364
Investments, at fair value	48,645,874	46,533,799
Derivative assets, at fair value	124,442	320,696
Other assets	261,904	282,516
Total assets	55,211,819	53,344,062
Liabilities:
Accrued compensation expense	180,633	294,886
Accounts payable, accrued expenses and other liabilities	124,548	148,361
Due to affiliates	371,276	309,214
Debt obligations	850,000	850,000
Securities sold short, at fair value	121,660	64,438
Derivative liabilities, at fair value	484,633	259,265
Total liabilities	$ 11,110,327	$ 9,822,777
Commitments and contingencies (Note 13)
Non-controlling redeemable interests in consolidated funds	$ 42,213,440	$ 41,681,155
Unitholders’ capital:
Paid-in capital	600,813	536,431
Retained earnings	13,979	11,378
Accumulated other comprehensive loss	(1,273)	(1,070)
Class A unitholders’ capital	613,519	546,739
Non-controlling interest in consolidated subsidiaries and funds	31,080	27,430
Total unitholders’ capital	1,888,052	1,840,130
Total liabilities and unitholders’ capital	55,211,819	53,344,062
Class A Units
Unitholders’ capital:
Common stock	0	0
Class B Units
Unitholders’ capital:
Common stock	0	0
Consolidated Funds
Assets
Cash and cash-equivalents	2,423,555	2,940,198
Investments, at fair value	48,645,874	46,533,799
Dividends and interest receivable	195,840	193,428
Due from brokers	863,821	605,882
Receivable for securities sold	362,557	171,817
Derivative assets, at fair value	102,957	296,197
Other assets	714,197	664,192
Liabilities:
Accounts payable, accrued expenses and other liabilities	97,168	75,487
Debt obligations	1,918,409	1,601,535
Payables for securities purchased	1,088,954	767,733
Securities sold short, at fair value	121,660	64,438
Derivative liabilities, at fair value	480,760	253,509
Distributions payable	208,702	752,762
Borrowings under credit facilities	5,668,217	4,704,852
Non-controlling Interests in Consolidated Funds
Unitholders’ capital:
Non-controlling interest in consolidated subsidiaries and funds	$ 1,243,453	$ 1,265,961

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Total investments	$ 18,115	$ 40,814
Class A Units
Par Value (in dollars per share)	$ 0	$ 0
Units Authorized (in shares)	Unlimited	Unlimited
Issued (in shares)	48,371,659	43,763,719
Outstanding (in shares)	48,371,659	43,763,719
Class B Units
Par Value (in dollars per share)	$ 0	$ 0
Units Authorized (in shares)	Unlimited	Unlimited
Issued (in shares)	105,459,544	109,088,901
Outstanding (in shares)	105,459,544	109,088,901

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Management fees	$ 50,923	$ 51,560	$ 101,742	$ 91,991
Incentive income	564	0	564	0
Total revenues	51,487	51,560	102,306	91,991
Expenses:
Compensation and benefits	(107,750)	(92,735)	(217,893)	(191,027)
Equity-based compensation	(16,083)	(10,487)	(27,789)	(19,669)
Incentive income compensation	(35,211)	(36,259)	(102,103)	(127,753)
Total compensation and benefits expense	(159,044)	(139,481)	(347,785)	(338,449)
General and administrative	(33,488)	(31,665)	(40,068)	(63,903)
Depreciation and amortization	(3,107)	(1,815)	(5,999)	(3,736)
Consolidated fund expenses	(50,290)	(42,424)	(88,051)	(67,616)
Total expenses	(245,929)	(215,385)	(481,903)	(473,704)
Other income (loss):
Interest expense	(52,742)	(25,699)	(99,311)	(49,699)
Investment income	15,694	4,390	28,376	9,381
Other income (expense), net	2,863	9	7,557	(1,689)
Total other income (loss)	(116,711)	1,476,829	1,359,338	3,242,887
Income (loss) before income taxes	(311,153)	1,313,004	979,741	2,861,174
Income taxes	(5,485)	(5,761)	(13,360)	(13,747)
Net income (loss)	(316,638)	1,307,243	966,381	2,847,427
Less:
Net (income) loss attributable to non-controlling interests	(55,509)	(91,813)	(163,610)	(255,371)
Net income attributable to Oaktree Capital Group, LLC	$ 19,814	$ 31,186	$ 58,067	$ 82,980
Distributions declared per Class A unit (in dollars per share)	$ 0.64	$ 0.98	$ 1.2	$ 1.98
Net income per unit (basic and diluted):
Net income per Class A unit (in dollars per share)	$ 0.41	$ 0.72	$ 1.24	$ 1.99
Weighted average number of Class A units outstanding (in shares)	48,372	43,480	46,727	41,600
Consolidated Funds
Other income (loss):
Interest and dividend income	$ 478,311	$ 284,061	$ 1,001,240	$ 646,197
Net realized gain on consolidated funds’ investments	857,548	514,178	1,332,378	1,168,329
Net change in unrealized appreciation (depreciation) on consolidated funds’ investments	(1,418,385)	699,890	(910,902)	1,470,368
Non-controlling Interests in Consolidated Funds
Less:
Net (income) loss attributable to non-controlling interests	$ 391,961	$ (1,184,244)	$ (744,704)	$ (2,509,076)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net income (loss)	$ (316,638)	$ 1,307,243	$ 966,381	$ 2,847,427
Other comprehensive income, net of tax:
Foreign currency translation adjustments	1,919	(263)	(1,128)	80
Unrealized gain on interest-rate swap designated as cash-flow hedge	414	1,132	283	522
Other comprehensive income, net of tax	2,333	869	(845)	602
Total comprehensive income (loss)	(314,305)	1,308,112	965,536	2,848,029
Less: Comprehensive (income) loss attributable to non-controlling interests	334,852	(1,276,679)	(907,672)	(2,764,871)
Comprehensive income attributable to Oaktree Capital Group, LLC	20,547	31,433	57,864	83,158
Oaktree Capital Group, LLC
Net income (loss)	19,814	31,186	58,067	82,980
Other comprehensive income, net of tax:
Foreign currency translation adjustments	603	(75)	(294)	15
Unrealized gain on interest-rate swap designated as cash-flow hedge	130	322	91	163
Other comprehensive income, net of tax	733	247	(203)	178
Total comprehensive income (loss)	20,547	31,433	57,864	83,158
Comprehensive income attributable to Oaktree Capital Group, LLC	20,547	31,433	57,864	83,158
Non-controlling Interests in Consolidated Subsidiaries
Net income (loss)	55,509	91,813	163,610	255,371
Other comprehensive income, net of tax:
Foreign currency translation adjustments	1,316	(188)	(834)	65
Unrealized gain on interest-rate swap designated as cash-flow hedge	284	810	192	359
Other comprehensive income, net of tax	1,600	622	(642)	424
Total comprehensive income (loss)	57,109	92,435	162,968	255,795
Less: Comprehensive (income) loss attributable to non-controlling interests	(57,109)	(92,435)	(162,968)	(255,795)
Non-controlling Interests in Consolidated Funds
Net income (loss)	(391,961)	1,184,244	744,704	2,509,076
Other comprehensive income, net of tax:
Foreign currency translation adjustments	0	0	0	0
Unrealized gain on interest-rate swap designated as cash-flow hedge	0	0	0	0
Other comprehensive income, net of tax	0	0	0	0
Total comprehensive income (loss)	(391,961)	1,184,244	744,704	2,509,076
Less: Comprehensive (income) loss attributable to non-controlling interests	$ 391,961	$ (1,184,244)	$ (744,704)	$ (2,509,076)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows from operating activities:
Net income	$ 966,381	$ 2,847,427
Adjustments to reconcile net income to net cash used in operating activities:
Investment income	(28,376)	(9,381)
Depreciation and amortization	5,999	3,736
Equity-based compensation	27,789	19,669
Amortization (accretion) of original issue and market discount of consolidated funds’ investments, net	(10,122)	21,608
Income distributions from corporate investments in companies	36,281	30,823
Amortization or write-down of debt issuance costs	5,718	6,119
Cash flows due to changes in operating assets and liabilities:
(Increase) decrease in other assets	31,597	(7,823)
Increase in net due to affiliates	4,727	6,473
Decrease in accrued compensation expense	(114,253)	(103,804)
Increase (decrease) in accounts payable, accrued expenses and other liabilities	(24,285)	16,868
Purchases of securities	(40,398)	(22,498)
Net cash used in operating activities	(1,273,994)	(2,425,432)
Cash flows from investing activities:
Purchases of U.S. Treasury securities	(265,722)	(114,530)
Proceeds from maturities and sales of U.S. Treasury securities	240,054	386,041
Distributions and proceeds from corporate investments in funds and companies	43,778	2,821
Purchases of fixed assets	(16,991)	(2,845)
Net cash provided by (used in) investing activities	(39,279)	248,989
Cash flows from financing activities:
Proceeds from issuance of debt obligations	0	250,000
Payment of debt issuance costs	0	(728)
Repayments of debt obligations	0	(229,464)
Purchase of OCGH units	(237,820)	(296,400)
Repurchase and cancellation of OCGH units	(4,290)	(2,055)
Distributions to Class A unitholders	(55,466)	(81,083)
Distributions to OCGH unitholders	(155,391)	(272,462)
Contributions from non-controlling interests	4,000	0
Distributions to non-controlling interests	(3,096)	0
Effect of exchange rate changes on cash	(25,239)	58,505
Net increase (decrease) in cash and cash-equivalents	(614,198)	740,015
Cash and cash-equivalents, beginning balance	3,348,494	2,637,665
Cash and cash-equivalents, ending balance	2,734,296	3,377,680
Consolidated Funds
Adjustments to reconcile net income to net cash used in operating activities:
Net realized and unrealized gains from consolidated funds’ investments	(421,476)	(2,638,697)
Cash flows due to changes in operating assets and liabilities:
Increase (decrease) in accounts payable, accrued expenses and other liabilities	47,638	23,610
(Increase) decrease in dividends and interest receivable	(2,412)	17,464
Increase in due from brokers	(257,939)	(20,878)
(Increase) decrease in receivables for securities sold	(190,740)	14,024
Increase in other assets	(52,222)	(39,803)
Increase in payables for securities purchased	321,221	107,909
Purchases of securities	(9,840,256)	(11,563,149)
Proceeds from maturities and sales of securities	8,220,736	8,842,373
Cash flows from financing activities:
Payment of debt issuance costs	(9,108)	(12,871)
Contributions from non-controlling interests	3,035,701	4,292,002
Distributions to non-controlling interests	(3,436,558)	(3,191,065)
Proceeds from debt obligations issued by CLOs	401,372	996,802
Borrowings on credit facilities	3,527,603	3,880,392
Repayments on credit facilities	(2,580,453)	(2,771,765)
Net cash provided by financing activities	724,314	2,857,953
Class A Units
Cash flows from financing activities:
Proceeds from issuance of Class A units	$ 237,820	$ 296,650

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Changes in Unitholders' Capital - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			$ 1,840,130	$ 1,708,378
Issuance of units, value			237,820	296,650
Purchase of OCGH units from OCGH unitholders			(237,820)	(296,400)
Deferred tax effect resulting from the purchase of OCGH units			11,025	14,122
Repurchase and cancellation of OCGH units			(4,290)	(2,055)
Capital contributions			6,880	46,109
Equity reallocation between controlling and non-controlling interests	$ (559)	$ 18	45,202	49,116
Capital increase related to equity-based compensation			26,658	19,669
Distributions declared			(215,279)	(353,545)
Net income			223,773	339,282
Foreign currency translation adjustment, net of tax	1,919	(263)	(1,128)	80
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax			283	522
Unitholders' capital, value	1,888,052	1,772,812	1,888,052	1,772,812
Paid-in Capital
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			536,431	590,236
Issuance of units, value			237,820	296,650
Purchase of OCGH units from OCGH unitholders			(237,820)	(296,400)
Deferred tax effect resulting from the purchase of OCGH units			11,025	14,122
Equity reallocation between controlling and non-controlling interests			45,202	49,116
Capital increase related to equity-based compensation			8,155	5,380
Distributions declared				(81,083)
Unitholders' capital, value	600,813	578,021	600,813	578,021
Retained Earnings (Accumulated Deficit)
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			11,378	(114,905)
Distributions declared			(55,466)
Net income			58,067	82,980
Unitholders' capital, value	13,979	(31,925)	13,979	(31,925)
Accumulated Other Comprehensive Income (Loss)
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			(1,070)	(1,122)
Foreign currency translation adjustment, net of tax			(294)	15
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax			91	163
Unitholders' capital, value	(1,273)	(944)	(1,273)	(944)
Non-controlling Interests in Consolidated Subsidiaries
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			1,265,961	1,234,169
Repurchase and cancellation of OCGH units			(4,290)	(2,055)
Capital contributions			4,000
Equity reallocation between controlling and non-controlling interests			(45,202)	(49,116)
Capital increase related to equity-based compensation			18,503	14,289
Distributions declared			(158,487)	(272,462)
Net income			163,610	255,371
Foreign currency translation adjustment, net of tax	1,316	(188)	(834)	65
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax			192	359
Unitholders' capital, value	1,243,453	1,180,620	1,243,453	1,180,620
Non-controlling Interests in Consolidated Funds
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			27,430	0
Capital contributions			2,880	46,109
Distributions declared			(1,326)
Net income			2,096	931
Foreign currency translation adjustment, net of tax	0	0	0	0
Unitholders' capital, value	$ 31,080	$ 47,040	$ 31,080	$ 47,040
Class A Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, shares			43,764,000	38,473,000
Issuance of units, shares			4,608,000	5,007,000
Unitholders' capital, shares	48,372,000	43,480,000	48,372,000	43,480,000
Class B Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, shares			109,089,000	112,584,000
Issuance of units, shares			1,151,000	1,690,000
Cancellation of Class B units associated with forfeitures of OCGH units, shares			(78,000)	(32,000)
Cancellation of Class B units, shares			(4,702,000)	(5,045,000)
Unitholders' capital, shares	105,460,000	109,197,000	105,460,000	109,197,000

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2015
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. CLOs are structured finance vehicles in which the Company typically makes an investment and for which it serves as collateral manager. Oaktree Capital Group, LLC is a Delaware limited liability company that was formed on April 13, 2007. The Company is owned by its Class A and Class B unitholders. 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. The interests in the Oaktree Operating Group are referred to as the “Oaktree Operating Group units.” An Oaktree Operating Group unit is not a separate legal interest but represents one limited partnership interest in each of the Oaktree Operating Group entities. Class A units are entitled to one vote per unit. Class B units are entitled to ten votes per unit and do not represent an economic interest in the Company. The number of Class B units held by OCGH increases or decreases in response to corresponding changes in OCGH’s economic interest in the Oaktree Operating Group; 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 by 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, 2014 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 27, 2015. Reclassifications Certain amounts reported in the condensed consolidated statements of cash flows in the prior period have been reclassified to conform to the current-period presentation.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies of the Company 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 June 30, 2015, this included eight 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 June 30, 2015, the Company consolidated eight 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. The seven remaining VIEs represented CLOs for which the Company acts as collateral manager. Three of the CLOs had not priced as of June 30, 2015. As of December 31, 2014, the Company consolidated six VIEs. There were no VIEs for which the Company was not the primary beneficiary as of June 30, 2015 and December 31, 2014. As of June 30, 2015, the Company consolidated seven CLOs with total assets and liabilities of $2.4 billion and $2.1 billion , respectively. The assets and liabilities, respectively, of the CLOs primarily consisted of investments in debt securities and debt obligations issued by the CLOs. The debt obligations issued by each CLO were collateralized by the same CLO’s investments, 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, both of which are eliminated in consolidation. As of June 30, 2015, the Company had invested an aggregate $209.8 million in its CLOs, which represented its maximum risk of loss as of that date. 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. Please see note 7 for more information on CLO debt obligations. 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. Consequently, 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 interests in consolidated funds in the accompanying condensed consolidated financial statements. All of the revenues earned by Oaktree from the 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 the funds is increased by the amounts eliminated. Thus, the elimination of the 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 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, is called 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 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, related parties 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 identifiable intangible assets acquired in business combinations primarily consist of 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, the inputs used to value 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. Transfers of assets into or out of each fair value hierarchy level as a result of changes in the observability of the inputs used in measuring fair value are accounted for as of the beginning of the reporting period. Transfers resulting from a specific event, such as a reorganization or restructuring, are accounted for as of the date of the event that caused the transfer. 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. With the exception of open-end funds, all unquoted Level III investment values are reviewed and approved by (i) the Company’s valuation officer, who is independent of the investment teams, (ii) a designated investment professional of each strategy and (iii) for a substantial majority of unquoted Level III holdings as measured by market value, a valuation committee for such strategy. For open-end funds, unquoted Level III investment values are reviewed and approved by the Company’s valuation officer. 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 periodically evaluates changes in fair-value measurements for reasonableness, considering items such as industry trends, general economic and market conditions, and factors specific to the investment. Certain 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 specific or similar securities. These investments may be 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. 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 debt obligations of CLOs 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. CLOs’ interest expense and other expenses are included in interest expense and consolidated fund expenses, respectively, in the condensed consolidated statements of operations. Accounting Policies of Consolidated Funds 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 as 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 April 2015, the Financial Accounting Standards Board (“FASB”) issued guidance that changes the presentation of debt issuance costs in the statements of financial position. Under current GAAP, such costs are reflected in the statements of financial position as a deferred asset. The new guidance will require these costs to be presented as a direct deduction from the related debt liability and to be amortized as interest expense. The amendment does not affect the current guidance on the recognition and measurement of debt issuance costs. The guidance is effective for the Company in the first quarter of 2016 on a retrospective basis, 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 February 2015, the FASB issued guidance that amends the current consolidation guidance and ends the deferral granted to investment companies from applying the VIE guidance. The new guidance does not add or remove any of the five characteristics that determine if an entity is a VIE; rather, it focuses on the consolidation criteria used to evaluate whether certain legal entities should be consolidated. Additionally, the new guidance eliminates the presumption that a general partner should consolidate a limited partnership under the voting model. The amendment is intended to simplify the consolidation guidance by placing more emphasis on risk of loss when determining a controlling financial interest, reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a VIE and providing more clarity for reporting entities that typically make use of limited partnerships or VIEs. The guidance is effective for the Company in the first quarter of 2016 on either a full or modified retrospective basis, with early adoption permitted. Under the modified retrospective approach, prior years would not be restated; instead, a cumulative-effect adjustment to equity as of the beginning of the adoption year would be recorded. The Company may elect to early adopt and is currently evaluating the effect that adoption will have on its condensed consolidated financial statements. In August 2014, the 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 will 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. On July 9, 2015, the FASB delayed the effective date of the guidance by one year. The guidance will be effective for the Company in the first quarter of 2018 on either a full or modified retrospective basis, with early adoption permitted no earlier than the original effective date, or the first quarter of 2017. The Company is currently evaluating the effect that adoption will have on its condensed consolidated financial statements.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS In August 2014, the Company completed its acquisition of the Highstar Capital team and certain Highstar entities (collectively, “Highstar”) for $31.4 million in cash, 100,595 fully-vested OCGH units and contingent consideration of up to $60.0 million . Highstar is an investment management firm specializing in U.S. energy infrastructure, waste management and transportation. The transaction, which was immaterial to Oaktree’s condensed consolidated financial statements, resulted in $50.8 million of goodwill, $28.0 million of identifiable intangible assets, primarily consisting of contractual rights associated with the management of Highstar Capital IV (“HS IV”), and $72.2 million of non-controlling interests in certain acquired subsidiaries that principally relate to investments in HS IV. Effective August 2014, the Company consolidated the financial position and results of operations of the controlled Highstar entities, including HS IV, and accounted for this transaction as a business combination. Please see notes 10 and 13 for more information regarding the contingent consideration liability.

INVESTMENTS, AT FAIR VALUE

INVESTMENTS, AT FAIR VALUE	6 Months Ended
	Jun. 30, 2015
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: June 30, 2015 December 31, June 30, December 31, United States: Debt securities: Consumer discretionary $ 3,442,732 $ 3,173,576 7.1 % 6.8 % Consumer staples 752,278 692,890 1.5 1.5 Energy 1,250,106 1,028,317 2.6 2.2 Financials 1,198,578 805,337 2.5 1.7 Government 127,194 140,053 0.3 0.3 Health care 1,213,421 1,010,462 2.5 2.2 Industrials 1,830,943 1,795,909 3.8 3.9 Information technology 1,277,136 1,167,635 2.6 2.5 Materials 1,466,542 1,288,947 3.0 2.8 Telecommunication services 449,576 372,457 0.9 0.8 Utilities 809,833 1,409,408 1.7 3.0 Total debt securities (cost: $14,883,759 and $13,611,109 as of June 30, 2015 and December 31, 2014, respectively) 13,818,339 12,884,991 28.5 27.7 Equity securities: Consumer discretionary 2,187,390 2,475,318 4.5 5.3 Consumer staples 846,003 530,305 1.7 1.1 Energy 1,373,804 1,756,480 2.8 3.8 Financials 7,811,587 7,720,904 16.1 16.6 Health care 223,218 224,705 0.5 0.5 Industrials 2,418,737 2,970,356 5.0 6.4 Information technology 71,428 176,097 0.1 0.4 Materials 1,060,419 1,207,523 2.2 2.6 Telecommunication services 23,182 21,616 0.0 0.0 Utilities 894,671 329,175 1.8 0.7 Total equity securities (cost: $13,848,518 and $13,911,333 as of June 30, 2015 and December 31, 2014, respectively) 16,910,439 17,412,479 34.7 37.4 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments: June 30, December 31, June 30, December 31, Europe: Debt securities: Consumer discretionary $ 1,363,663 $ 1,371,689 2.8 % 3.0 % Consumer staples 243,992 242,513 0.5 0.5 Energy 316,277 370,456 0.7 0.8 Financials 777,729 803,468 1.6 1.7 Government 19,833 — 0.0 — Health care 191,938 147,661 0.4 0.3 Industrials 315,754 344,642 0.6 0.7 Information technology 41,650 41,960 0.1 0.1 Materials 401,775 421,327 0.8 0.9 Telecommunication services 220,463 142,322 0.5 0.3 Utilities 7,427 24,668 0.0 0.1 Total debt securities (cost: $4,123,075 and $3,803,751 as of June 30, 2015 and December 31, 2014, respectively) 3,900,501 3,910,706 8.0 8.4 Equity securities: Consumer discretionary 240,288 311,847 0.5 0.7 Consumer staples 141,174 59,628 0.3 0.1 Energy 29,607 92,416 0.1 0.2 Financials 6,292,496 4,760,386 12.9 10.2 Government — 635 — 0.0 Health care 74,510 52,887 0.2 0.1 Industrials 1,433,125 1,226,825 2.9 2.6 Information technology 14,363 1,190 0.0 0.0 Materials 481,237 398,559 1.0 0.9 Telecommunication services 22,330 — 0.0 — Utilities 194,307 — 0.3 — Total equity securities (cost: $7,215,300 and $5,884,950 as of June 30, 2015 and December 31, 2014, respectively) 8,923,437 6,904,373 18.2 14.8 Asia and other: Debt securities: Consumer discretionary 117,142 140,732 0.2 0.3 Consumer staples 3,228 7,927 0.0 0.0 Energy 250,048 217,299 0.5 0.5 Financials 21,890 18,935 0.0 0.0 Government 13,335 50,073 0.0 0.1 Health care 81,010 48,977 0.2 0.1 Industrials 295,322 420,323 0.6 0.9 Information technology 27,545 23,555 0.1 0.1 Materials 269,744 252,965 0.6 0.6 Telecommunication services 705 — 0.0 — Utilities 9,242 9,113 0.0 0.0 Total debt securities (cost: $1,055,818 and $1,168,453 as of June 30, 2015 and December 31, 2014, respectively) 1,089,211 1,189,899 2.2 2.6 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments: June 30, December 31, June 30, December 31, Asia and other: Equity securities: Consumer discretionary $ 863,285 $ 664,077 1.8 % 1.4 % Consumer staples 75,427 113,471 0.2 0.2 Energy 373,302 298,040 0.8 0.6 Financials 853,575 1,518,532 1.8 3.3 Health care 23,476 22,899 0.0 0.1 Industrials 1,087,708 937,455 2.2 2.0 Information technology 323,882 322,592 0.7 0.7 Materials 135,170 145,657 0.3 0.3 Telecommunication services 85,521 39,244 0.2 0.1 Utilities 182,601 169,384 0.4 0.4 Total equity securities (cost: $3,714,749 and $3,393,453 as of June 30, 2015 and December 31, 2014, respectively) 4,003,947 4,231,351 8.4 9.1 Total debt securities 18,808,051 17,985,596 38.7 38.7 Total equity securities 29,837,823 28,548,203 61.3 61.3 Total investments, at fair value $ 48,645,874 $ 46,533,799 100.0 % 100.0 % Securities Sold Short: Debt securities (proceeds: $2,108 and $0 as of June 30, 2015 and December 31, 2014, respectively) $ (2,168 ) $ — Equity securities (proceeds: $128,060 and $70,760 as of June 30, 2015 and December 31, 2014, respectively) (119,492 ) (64,438 ) Total securities sold short, at fair value $ (121,660 ) $ (64,438 ) As of June 30, 2015 and December 31, 2014, 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 June 30, 2015 2014 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 $ 707,427 $ (1,018,970 ) $ 521,367 $ 724,377 Foreign currency forward contracts (1) 175,334 (339,448 ) (37,212 ) (4,095 ) Total-return, credit-default and interest-rate swaps (1) (2,248 ) (56,008 ) 44,017 (20,983 ) Options and futures (1) (21,778 ) (5,150 ) (13,994 ) 3,865 Swaptions (1)(2) (1,187 ) 1,191 — (3,274 ) Total $ 857,548 $ (1,418,385 ) $ 514,178 $ 699,890 Six Months Ended June 30, 2015 2014 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 $ 875,226 $ (461,655 ) $ 1,239,490 $ 1,499,699 Foreign currency forward contracts (1) 471,310 (319,064 ) (94,188 ) (4,263 ) Total-return, credit-default and interest-rate swaps (1) (7,174 ) (116,226 ) 43,915 (13,564 ) Options and futures (1) (3,977 ) (16,299 ) (20,888 ) (6,192 ) Swaptions (1)(2) (3,007 ) 2,342 — (5,312 ) Total $ 1,332,378 $ (910,902 ) $ 1,168,329 $ 1,470,368 (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	6 Months Ended
	Jun. 30, 2015
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. Please see notes 7 and 14 for the fair value of the Company’s outstanding debt obligations and amounts due from/to affiliates, respectively. As of June 30, 2015 As of December 31, 2014 Level I Level II Level III Total Level I Level II Level III Total Assets U.S. Treasury securities (1) $ 681,197 $ — $ — $ 681,197 $ 655,529 $ — $ — $ 655,529 Corporate investments — 18,115 — 18,115 23,660 17,154 — 40,814 Forward currency contracts (2) — 21,485 — 21,485 — 24,499 — 24,499 Total assets $ 681,197 $ 39,600 $ — $ 720,797 $ 679,189 $ 41,653 $ — $ 720,842 Liabilities Contingent consideration (3) $ — $ — $ (28,746 ) $ (28,746 ) $ — $ — $ (27,245 ) $ (27,245 ) Forward currency contracts (3) — (1,839 ) — (1,839 ) — (3,439 ) — (3,439 ) Interest-rate swaps (3) — (2,034 ) — (2,034 ) — (2,317 ) — (2,317 ) Total liabilities $ — $ (3,873 ) $ (28,746 ) $ (32,619 ) $ — $ (5,756 ) $ (27,245 ) $ (33,001 ) (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. Derivatives may apply to a mix of Level I, II or III investments, and therefore their fair-value hierarchy level may not correspond to the fair-value hierarchy level of the economically hedged investment. The table below summarizes the investments and other financial instruments of the consolidated funds by fair-value hierarchy level: As of June 30, 2015 As of December 31, 2014 Level I Level II Level III Total Level I Level II Level III Total Assets Investments: Corporate debt – bank debt $ — $ 8,581,654 $ 1,399,277 $ 9,980,931 $ — $ 8,135,722 $ 1,555,656 $ 9,691,378 Corporate debt – all other 5,654 5,906,092 2,915,374 8,827,120 4,039 5,539,518 2,750,661 8,294,218 Equities – common stock 5,805,336 311,086 9,703,009 15,819,431 6,042,583 505,459 9,044,579 15,592,621 Equities – preferred stock 1,884 — 1,659,738 1,661,622 3,148 — 1,320,752 1,323,900 Real estate — — 9,572,902 9,572,902 — — 9,216,056 9,216,056 Real estate loan portfolios — — 2,779,472 2,779,472 — — 2,399,105 2,399,105 Other — — 4,396 4,396 945 — 15,576 16,521 Total investments 5,812,874 14,798,832 28,034,168 48,645,874 6,050,715 14,180,699 26,302,385 46,533,799 Derivatives: Forward currency contracts — 70,550 — 70,550 — 254,929 — 254,929 Swaps — 7,296 — 7,296 — 4,217 — 4,217 Options and futures 2,697 22,300 — 24,997 — 36,568 — 36,568 Swaptions — 114 — 114 — 483 — 483 Total derivatives 2,697 100,260 — 102,957 — 296,197 — 296,197 Total assets $ 5,815,571 $ 14,899,092 $ 28,034,168 $ 48,748,831 $ 6,050,715 $ 14,476,896 $ 26,302,385 $ 46,829,996 Liabilities Securities sold short: Debt securities $ — $ (2,168 ) $ — $ (2,168 ) $ — $ — $ — $ — Equity securities (117,666 ) (1,826 ) — (119,492 ) (64,438 ) — — (64,438 ) Total securities sold short (117,666 ) (3,994 ) — (121,660 ) (64,438 ) — — (64,438 ) Derivatives: Forward currency contracts — (174,400 ) — (174,400 ) — (54,663 ) — (54,663 ) Swaps — (291,904 ) (8,644 ) (300,548 ) — (172,672 ) (10,687 ) (183,359 ) Options and futures (178 ) (5,634 ) — (5,812 ) (11,051 ) (3,918 ) — (14,969 ) Swaptions — — — — — (518 ) — (518 ) Total derivatives (178 ) (471,938 ) (8,644 ) (480,760 ) (11,051 ) (231,771 ) (10,687 ) (253,509 ) Total liabilities $ (117,844 ) $ (475,932 ) $ (8,644 ) $ (602,420 ) $ (75,489 ) $ (231,771 ) $ (10,687 ) $ (317,947 ) The following tables set forth a summary of changes in the fair value of 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 June 30, 2015: Beginning balance $ 1,573,508 $ 2,772,859 $ 10,156,394 $ 1,381,135 $ 9,728,967 $ 2,406,252 $ (6,988 ) $ 3,576 $ 28,015,703 Transfers into Level III 9,598 17,208 50,976 11,199 — — — — 88,981 Transfers out of Level III (42,396 ) (78,250 ) (523,407 ) (20,382 ) — — — — (664,435 ) Purchases 42,721 314,898 341,691 147,396 658,056 476,637 — — 1,981,399 Sales (185,407 ) (84,407 ) (349,498 ) (2,760 ) (890,418 ) (213,495 ) — — (1,725,985 ) Realized gains (losses), net 10,604 (35,773 ) 73,211 (1,153 ) 432,658 67,817 — — 547,364 Unrealized appreciation (depreciation), net (9,351 ) 8,839 (46,358 ) 144,303 (356,361 ) 42,261 (1,656 ) 820 (217,503 ) Ending balance $ 1,399,277 $ 2,915,374 $ 9,703,009 $ 1,659,738 $ 9,572,902 $ 2,779,472 $ (8,644 ) $ 4,396 $ 28,025,524 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (12,235 ) $ (76,879 ) $ (12,504 ) $ 1,253 $ (335,645 ) $ 27,778 $ (225 ) $ 820 $ (407,637 ) Three Months Ended June 30, 2014: Beginning balance $ 2,584,354 $ 2,067,344 $ 7,613,726 $ 1,145,630 $ 6,976,625 $ 2,413,412 $ (2,902 ) $ 14,681 $ 22,812,870 Transfers into Level III 91,377 162,396 — — 126,815 — — — 380,588 Transfers out of Level III (576,732 ) (12,505 ) (153,277 ) (2,695 ) — — — — (745,209 ) Purchases 149,281 155,312 721,381 32,180 892,583 413,728 — — 2,364,465 Sales (332,258 ) (72,245 ) (43,730 ) (26,898 ) (275,465 ) (364,698 ) — — (1,115,294 ) Realized gains (losses), net 61,332 3,536 6,034 (16,057 ) 43,922 30,579 — — 129,346 Unrealized appreciation (depreciation), net (32,963 ) 42,670 190,487 68,556 256,090 23,806 3,738 206 552,590 Ending 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 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ 66,167 $ 30,659 $ 204,821 $ 40,813 $ 300,342 $ 17,597 $ (1,248 ) $ 173 $ 659,324 Corporate Debt – Bank Debt Corporate Debt – All Other Equities – Common Stock Equities – Preferred Stock Real Estate Real Estate Loan Portfolios Swaps Other Total Six Months Ended June 30, 2015: Beginning balance $ 1,555,656 $ 2,750,661 $ 9,056,579 $ 1,320,752 $ 9,216,056 $ 2,399,105 $ (10,687 ) $ 3,576 $ 26,291,698 Transfers into Level III 116,533 17,208 377,563 15,835 — — — — 527,139 Transfers out of Level III (145,998 ) (110,084 ) (523,423 ) (32,583 ) — — — — (812,088 ) Purchases 224,751 566,463 1,194,127 205,128 949,574 605,915 — — 3,745,958 Sales (340,767 ) (163,351 ) (442,219 ) (54,947 ) (985,355 ) (303,387 ) — — (2,290,026 ) Realized gains (losses), net 25,407 (32,499 ) (66,126 ) 37,384 479,057 98,628 — — 541,851 Unrealized appreciation (depreciation), net (36,305 ) (113,024 ) 106,508 168,169 (86,430 ) (20,789 ) 2,043 820 20,992 Ending balance $ 1,399,277 $ 2,915,374 $ 9,703,009 $ 1,659,738 $ 9,572,902 $ 2,779,472 $ (8,644 ) $ 4,396 $ 28,025,524 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (17,619 ) $ (43,928 ) $ 192,837 $ 109,462 $ 92,476 $ (35,272 ) $ 2,043 $ 820 $ 300,819 Six Months Ended June 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 Transfers into Level III 812,821 162,546 424,682 — 128,577 — — — 1,528,626 Transfers out of Level III (1,548,747 ) (18,871 ) (493,348 ) (6,544 ) (90,896 ) — — — (2,158,406 ) Purchases 404,224 279,296 1,521,509 176,697 1,693,378 650,412 — 1,000 4,726,516 Sales (607,003 ) (609,238 ) (317,313 ) (68,278 ) (577,800 ) (650,037 ) — — (2,829,669 ) Realized gains (losses), net 105,476 119,038 65,410 (16,085 ) 96,125 57,439 — — 427,403 Unrealized appreciation (depreciation), net (31,817 ) (18,442 ) 433,666 195,155 549,892 89,572 836 179 1,219,041 Ending 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 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ 41,435 $ 79,614 $ 559,032 $ 181,909 $ 598,517 $ 89,572 $ 836 $ 178 $ 1,551,093 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 and six months ended June 30, 2015. Transfers between Level I and Level II positions for the three and six months ended June 30, 2014 included $104.4 million and $739.7 million , respectively, 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 out of Level III were generally attributable to certain investments that experienced a more significant level of market trading activity or completed an initial public offering 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 during the period 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 techniques and quantitative information utilized in determining the fair value of the consolidated funds’ Level III investments as of June 30, 2015: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) Credit-oriented investments: Consumer discretionary: $ 204,890 Discounted cash flow (1) Discount rate 5% – 12% 11% 483,130 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 8x 6x 94,281 Recent transaction price (5) Not applicable Not applicable Not applicable 82,023 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Financials: 528,940 Discounted cash flow (1) Discount rate 7% – 14% 11% 245,515 Market approach (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 250,164 Recent transaction price (5) Not applicable Not applicable Not applicable 96,267 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Industrials: 192,524 Discounted cash flow (1) Discount rate 5% – 15% 12% 198,564 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 10% – 14% 12% 4,345 Market approach (comparable companies) (2) Earnings multiple (3) 5x – 6x 6x 83,263 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 1.0x – 1.1x 1x 38,790 Recent transaction price (5) Not applicable Not applicable Not applicable 17,804 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Materials: 353,524 Discounted cash flow (1) Discount rate 11% – 13% 12% 212,223 Market approach (comparable companies) (2) Earnings multiple (3) 7x – 10x 7x Other: 552,278 Discounted cash flow (1) Discount rate 5% – 14% 12% 165,819 Market approach (2) Earnings multiple (3) 7x – 8x 8x 168,994 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 37,329 Recent transaction price (5) Not applicable Not applicable Not applicable 295,340 Recent market information (6) Quoted prices / discount Not applicable Not applicable Equity investments: Energy: 37,130 Discounted cash flow (1) Discount rate 10% – 12% 11% 800,801 Market approach (2) Earnings multiple (3) 7x – 16x 13x Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) $ 64,531 Recent transaction price (5) Not applicable Not applicable Not applicable 43,265 Recent market information (6) Quoted prices / discount Not applicable Not applicable 186,091 Other Not applicable Not applicable Not applicable Financials: 977,495 Market approach (2)(4) Underlying asset multiple 1x – 1.4x 1.1x 200,116 Recent transaction price (5) Not applicable Not applicable Not applicable 153,886 Recent market information (6) Quoted prices / discount Not applicable Not applicable Industrials: 2,027,904 Market approach (2) Earnings multiple (3) 5x – 11x 8x 2,082,863 Market approach (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 344,118 Recent transaction price (5) Not applicable Not applicable Not applicable 259,734 Recent market information (6) Quoted prices / discount Not applicable Not applicable Materials: 1,094,430 Market approach (comparable companies) (2) Earnings multiple (3) 4x – 10x 8x 207,692 Recent transaction price (5) Not applicable Not applicable Not applicable Other: 132,194 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 8% – 10% 9% 2,027,095 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 11x 8x 314,016 Recent transaction price (5) Not applicable Not applicable Not applicable 163,050 Recent market information (6) Quoted prices / discount 0% – 5% 0% 246,336 Other Not applicable Not applicable Not applicable Real estate-oriented investments: 3,875,135 Discounted cash flow (1)(7) Discount rate 6% – 44% 13% Terminal capitalization rate 5% – 10% 7% Direct capitalization rate 5% – 10% 7% Net operating income growth rate 0% – 47% 11% Absorption rate 21% – 50% 39% 217,427 Market approach (comparable companies) (2) Earnings multiple (3) 10x – 12x 12x 947,359 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 1x – 1.8x 1.6x 643,885 Recent transaction price (5) Not applicable Not applicable Not applicable 117,524 Recent market information (6) / Market approach (comparable companies) (2) Quoted prices / discount (discount not applicable) / Earnings multiple (3) 7x – 9x 8x 2,389,976 Recent market information (6) Quoted prices / discount 0% – 6% 4% 1,286,398 Sales approach (8) Market transactions Not applicable Not applicable 95,198 Other Not applicable Not applicable Not applicable Real estate loan portfolios: 2,003,132 Discounted cash flow (1)(7) Discount rate 8% – 20% 13% 776,340 Recent transaction price (5) Not applicable Not applicable Not applicable Other 4,396 Total Level III investments $ 28,025,524 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 December 31, 2014: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) Credit-oriented investments: Consumer discretionary: $ 164,401 Discounted cash flow (1) Discount rate 5% – 12% 11% 487,784 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 10x 5x 133,410 Recent transaction price (5) Not applicable Not applicable Not applicable 119,219 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Financials: 280,827 Discounted cash flow (1) Discount rate 9% – 14% 12% 205,639 Market approach (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 228,804 Recent transaction price (5) Not applicable Not applicable Not applicable 55,472 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Industrials: 240,935 Discounted cash flow (1) Discount rate 5% – 20% 13% 206,763 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 10% – 14% 12% 13,358 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 8x 7x 83,020 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 121,888 Recent transaction price (5) Not applicable Not applicable Not applicable 113,500 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Materials: 77,008 Discounted cash flow (1) Discount rate 11% – 13% 12% 189,081 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 15% – 17% 16% 250,803 Market approach (comparable companies) (2) Earnings multiple (3) 6x – 8x 7x 64,490 Recent transaction price (5) Not applicable Not applicable Not applicable Other: 449,065 Discounted cash flow (1) Discount rate 5% – 13% 11% 376,237 Market approach (2) Earnings multiple (3) 7x – 8x 8x 123,842 Recent transaction price (5) Not applicable Not applicable Not applicable 310,084 Recent market information (6) Quoted prices / discount Not applicable Not applicable Equity investments: Energy: 47,524 Discounted cash flow (1) Discount rate 10% – 12% 11% 1,045,233 Market approach (2) Earnings multiple (3) 5x – 18x 12x 60,409 Recent transaction price (5) Not applicable Not applicable Not applicable 432,717 Other Not applicable Not applicable Not applicable Financials: 116,328 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 6% – 8% 7% 646,720 Market approach (2)(4) Underlying asset multiple 1x – 1.1x 1x 171,844 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) $ 140,804 Recent market information (6) Quoted prices / discount Not applicable Not applicable Industrials: 2,086,026 Market approach (2) Earnings multiple (3) 3x – 15x 9x 2,313,549 Market approach (2)(4) Underlying asset multiple 1x – 1.2x 1x 100,655 Recent transaction price (5) Not applicable Not applicable Not applicable 397,377 Recent market information (6) Quoted prices / discount Not applicable Not applicable Materials: 1,154,908 Market approach (comparable companies) (2) Earnings multiple (3) 4x – 11x 8x 70,123 Recent transaction price (5) Not applicable Not applicable Not applicable 1,477 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Other: 1,371,935 Market approach (comparable companies) (2) Earnings multiple (3) 4x – 12x 8x 55,769 Recent transaction price (5) Not applicable Not applicable Not applicable 151,933 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Real estate-oriented investments: 3,276,236 Discounted cash flow (1)(7) Discount rate 6% – 44% 13% Terminal capitalization rate 6% – 10% 8% Direct capitalization rate 5% – 9% 7% Net operating income growth rate 0% – 37% 10% Absorption rate 19% – 44% 38% 262,218 Market approach (comparable companies) (2) Earnings multiple (3) 12x – 18x 13x 766,755 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 1x – 1.5x 1.4x 915,247 Recent transaction price (5) Not applicable Not applicable Not applicable 2,625,026 Recent market information (6) Quoted prices / discount 0% – 6% 4% 245,316 Recent market information (6) / Market approach (comparable companies) (2) Quoted prices / discount Earnings multiple (3) 7x – 9x 8x 1,075,459 Sales approach (8) Market transactions Not applicable Not applicable 49,799 Other Not applicable Not applicable Not applicable Real estate loan portfolios: 2,019,261 Discounted cash flow (1)(7) Discount rate 8% – 16% 13% 379,844 Recent transaction price (5) Not applicable Not applicable Not applicable Other 15,576 Total Level III investments $ 26,291,698 (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 six months ended June 30, 2015, the valuation technique for eight Level III investments changed: (a) three credit-oriented investments and one equity investment changed from a market approach based on comparable companies to a market approach based on the value of underlying assets as a result of an increased focus on the value of the company’s physical assets, (b) one credit-oriented investment changed from a market approach based on comparable companies to a valuation based on recent market information due to increased availability of broker quotations, (c) one credit-oriented investment changed from a valuation technique that used both a discounted cash flow and sales approach to an approach based solely on a discounted cash flow technique due to a decreased focus on the value of the issuer’s assets, (d) one real estate-oriented investment changed from a valuation based on a market approach to a discounted cash flow as a result of the stabilization of the underlying property and (e) one real estate-oriented investment changed from a valuation based on a discounted cash flow to a sales approach as a result of receiving offers from potential buyers. During the six months ended June 30, 2014, the valuation technique for four Level III investments changed: (a) one equity security and one credit-oriented security changed from a valuation based on then-recent market information to a market approach based on comparable companies, because the investee underwent a restructuring and its securities are no longer traded, and (b) one equity security and one 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 stabilization of the underlying investments.

HEDGES AND OTHER DERIVATIVE INS

HEDGES AND OTHER DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 2015
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. As of June 30, 2015 and December 31, 2014, the Company had outstanding two interest-rate swaps that were designated to hedge the interest rate risk covering up to $165.0 million and $180.0 million , respectively, of the $250.0 million variable-rate bank term loan. The swaps, which had aggregate designated notional values of $333.8 million and $348.8 million as of June 30, 2015 and December 31, 2014, respectively, expire through January 2017. As of June 30, 2015, the hedges continued to be effective. 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 the debt obligations of the CLOs. 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 June 30, 2015: Contract Amount in Local Currency Contract Amount in U.S. Dollars Market Value in U.S. Dollars Net Unrealized Appreciation (Depreciation) Euro, expiring 7/8/15-10/7/16 225,220 $ 266,360 $ 251,798 $ 14,562 USD (buy GBP), expiring 7/31/15-4/29/16 84,866 84,866 82,670 2,196 Japanese Yen, expiring 9/30/15-6/30/16 8,820,600 75,319 72,431 2,888 Total $ 426,545 $ 406,899 $ 19,646 As of December 31, 2014: Euro, expiring 1/8/15-12/31/15 206,820 $ 266,569 $ 250,789 $ 15,780 USD (buy GBP), expiring 1/8/15-12/31/15 88,081 88,081 91,485 (3,404 ) Japanese Yen, expiring 1/30/15-12/30/15 7,420,600 70,784 62,100 8,684 Total $ 425,434 $ 404,374 $ 21,060 Realized and unrealized gains and losses arising from freestanding derivative instruments were recorded in the condensed consolidated statements of operations as follows: Three Months Ended June 30, Six Months Ended June 30, Foreign Currency Forward Contracts: 2015 2014 2015 2014 General and administrative expenses (1) $ (1,114 ) $ 2,142 $ 22,841 $ 1,094 Total-return Swap: Investment income $ — $ — $ — $ 2,554 (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 June 30, 2015 and December 31, 2014, 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 is accounted for as a hedging instrument utilizing hedge accounting. The average notional amounts of foreign currency and total-return swap contracts outstanding, respectively, during the six months ended June 30, 2015 were $4.9 billion long and $347.4 million short, and $3.0 billion long and $18.4 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 June 30, 2015 2014 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 $ 175,334 $ (339,448 ) $ (37,212 ) $ (4,095 ) Total-return, credit-default and interest-rate swaps (2,248 ) (56,008 ) 44,017 (20,983 ) Options and futures (21,778 ) (5,150 ) (13,994 ) 3,865 Swaptions (1,187 ) 1,191 — (3,274 ) Total $ 150,121 $ (399,415 ) $ (7,189 ) $ (24,487 ) Six Months Ended June 30, 2015 2014 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 $ 471,310 $ (319,064 ) $ (94,188 ) $ (4,263 ) Total-return, credit-default and interest-rate swaps (7,174 ) (116,226 ) 43,915 (13,564 ) Options and futures (3,977 ) (16,299 ) (20,888 ) (6,192 ) Swaptions (3,007 ) 2,342 — (5,312 ) Total $ 457,152 $ (449,247 ) $ (71,161 ) $ (29,331 ) 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” columns represent 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 June 30, 2015 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign currency forward contracts $ 21,485 $ — $ 21,485 $ 3,873 $ — $ 17,612 Derivative assets of consolidated funds: Foreign currency forward contracts 70,550 — 70,550 42,836 — 27,714 Total-return, credit-default and interest-rate swaps 7,296 — 7,296 160 — 7,136 Options and futures 24,997 — 24,997 8,401 — 16,596 Swaptions 114 — 114 114 — — Subtotal 102,957 — 102,957 51,511 — 51,446 Total $ 124,442 $ — $ 124,442 $ 55,384 $ — $ 69,058 Derivative Liabilities: Foreign currency forward contracts $ (1,839 ) $ — $ (1,839 ) $ (1,839 ) $ — $ — Interest-rate swaps (2,034 ) — (2,034 ) (2,034 ) — — Subtotal (3,873 ) — (3,873 ) (3,873 ) — — Derivative liabilities of consolidated funds: Foreign currency forward contracts (174,400 ) — (174,400 ) (42,836 ) (7,642 ) (123,922 ) Total-return, credit-default and interest-rate swaps (300,548 ) — (300,548 ) (2,880 ) (248,672 ) (48,996 ) Options and futures (5,812 ) — (5,812 ) (5,795 ) (17 ) — Subtotal (480,760 ) — (480,760 ) (51,511 ) (256,331 ) (172,918 ) Total $ (484,633 ) $ — $ (484,633 ) $ (55,384 ) $ (256,331 ) $ (172,918 ) 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, 2014 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign currency forward contracts $ 24,499 $ — $ 24,499 $ 5,756 $ — $ 18,743 Derivative assets of consolidated funds: Foreign currency forward contracts 254,929 — 254,929 51,260 — 203,669 Total-return, credit-default and interest-rate swaps 4,217 — 4,217 512 — 3,705 Options and futures 36,568 — 36,568 12,605 — 23,963 Swaptions 483 — 483 483 — — Subtotal 296,197 — 296,197 64,860 — 231,337 Total $ 320,696 $ — $ 320,696 $ 70,616 $ — $ 250,080 Derivative Liabilities: Foreign currency forward contracts $ (3,439 ) $ — $ (3,439 ) $ (3,439 ) $ — $ — Interest-rate swaps (2,317 ) — (2,317 ) (2,317 ) — — Subtotal (5,756 ) — (5,756 ) (5,756 ) — — Derivative liabilities of consolidated funds: Foreign currency forward contracts (54,663 ) — (54,663 ) (51,088 ) — (3,575 ) Total-return, credit-default and interest-rate swaps (183,359 ) — (183,359 ) (9,427 ) (156,011 ) (17,921 ) Options and futures (14,969 ) — (14,969 ) (3,863 ) (11,106 ) — Swaptions (518 ) (518 ) (483 ) — (35 ) Subtotal (253,509 ) — (253,509 ) (64,861 ) (167,117 ) (21,531 ) Total $ (259,265 ) $ — $ (259,265 ) $ (70,617 ) $ (167,117 ) $ (21,531 )

DEBT OBLIGATIONS AND CREDIT FAC

DEBT OBLIGATIONS AND CREDIT FACILITIES	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
DEBT OBLIGATIONS AND CREDIT FACILITIES	DEBT OBLIGATIONS AND CREDIT FACILITIES The Company’s debt obligations are set forth below: As of June 30, 2015 December 31, 2014 $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, rate as described below, term loan issued in March 2014, payable on March 31, 2019 250,000 250,000 $50,000, 3.91%, issued in September 2014, payable on September 3, 2024 50,000 50,000 $100,000, 4.01%, issued in September 2014, payable on September 3, 2026 100,000 100,000 $100,000, 4.21%, issued in September 2014, payable on September 3, 2029 100,000 100,000 Total remaining principal $ 850,000 $ 850,000 Future scheduled principal payments of debt obligations as of June 30, 2015 were as follows: Remainder of 2015 $ — 2016 100,000 2017 — 2018 — 2019 500,000 Thereafter 250,000 Total $ 850,000 The Company was in compliance with all financial maintenance covenants associated with its senior notes and credit facility as of June 30, 2015 and December 31, 2014. 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 $868.4 million and $895.9 million as of June 30, 2015 and December 31, 2014, respectively, utilizing an average borrowing rate of 3.4% and 3.2% , respectively. As of June 30, 2015, a 10% increase in the assumed average borrowing rate would lower the estimated fair value to $852.5 million , whereas a 10% decrease would increase the estimated fair value to $885.0 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 $250.0 million fully-funded term loan (the “Term Loan”) and a $500.0 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 $250.0 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 $50.0 billion . As of June 30, 2015, the Company had no outstanding borrowings under the Revolver and was able to draw the full amount available without violating any financial maintenance covenants. Credit Facilities of the Consolidated Funds Certain consolidated funds maintain revolving credit facilities to fund investments between, or in advance of, 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 aggregated $3.2 billion and $2.8 billion as of June 30, 2015 and December 31, 2014, respectively, using prices obtained from pricing vendors. 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. The consolidated funds had the following revolving credit facilities and term loans outstanding: Credit Agreement Outstanding Amount as of Facility Capacity LIBOR Margin (1) Maturity Commitment Fee Rate L/C Fee (2) June 30, 2015 December 31, 2014 Credit facility (3) $ 434,000 $ 434,000 $ 435,000 1.45% 11/14/2018 N/A N/A Senior variable rate notes (3) 249,500 249,500 $ 249,500 1.55% 10/20/2022 N/A N/A Senior variable rate notes (3) 499,526 499,322 $ 500,000 1.20% 4/20/2023 N/A N/A Senior variable rate notes (3) 402,445 402,422 $ 402,500 1.20% 7/20/2023 N/A N/A Senior variable rate notes (3) 64,500 64,500 $ 64,500 1.65% 7/20/2023 N/A N/A Senior variable rate notes (3) 420,000 420,000 $ 420,000 1.47% 8/15/2025 N/A N/A Senior variable rate notes (3) 84,576 84,399 $ 86,000 2.10% 8/15/2025 N/A N/A Credit facility (3)(4) 10,000 — $ 650,000 1.25% 4/11/2017 N/A N/A Senior variable rate notes (3) 332,759 332,706 $ 333,000 1.56% 11/15/2025 N/A N/A Senior variable rate notes (3) 76,801 76,648 $ 78,000 2.30% 11/15/2025 N/A N/A Senior variable rate notes (3) 39,154 39,049 $ 40,000 3.20% 11/15/2025 N/A N/A Senior variable rate notes (3) 307,500 — $ 307,500 1.55% 2/15/2026 N/A N/A Senior variable rate notes (3) 64,815 — $ 65,000 2.30% 2/15/2026 N/A N/A Senior variable rate notes (3) 36,943 — $ 37,500 3.10% 2/15/2026 N/A N/A Revolving credit facility 49,381 50,054 $ 450,000 3.05% 8/14/2015 0.25% 2.00% Revolving credit facility N/A 500,000 $ 500,000 1.60% 6/26/2015 0.25% N/A Revolving credit facility 567,146 — $ 750,000 1.50% 3/18/2018 0.60% 1.50% Revolving credit facility — 800 $ 55,000 2.00% 12/15/2015 0.35% 2.00% Revolving credit facility 51,515 — $ 110,000 2.00% 11/4/2016 0.30% 2.00% Revolving credit facility 16,750 — $ 50,000 1.50% 1/30/2017 0.25% 1.50% Euro-denominated revolving credit facility 595,408 650,725 € 550,000 1.65% 2/25/2016 0.25% 1.65% Euro-denominated revolving credit facility 319,824 — € 300,000 2.35% 2/27/2017 0.50% 2.35% Euro-denominated revolving credit facility 96,364 97,925 € 100,000 1.95% 2/2/2016 0.40% 1.95% Revolving credit facility 50,000 146,000 $ 221,000 1.65% 9/30/2015 0.25% N/A Revolving credit facility 339,486 201,739 $ 400,000 1.60% 1/16/2017 0.25% 1.60% Revolving credit facility 52,536 56,697 $ 61,000 2.95% 3/15/2019 N/A N/A Revolving credit facility 80,325 88,000 $ 95,315 2.75% 12/16/2018 1.00% N/A Revolving credit facility — 2,000 $ 35,000 1.50% 12/11/2015 0.20% N/A Revolving credit facility 207,635 93,943 $ 250,000 1.60% 9/8/2016 0.25% 2.00% Revolving credit facility 33,983 — $ 40,000 2.25% 3/4/2016 0.30% 1.75% Credit facility (5) 185,345 214,423 $ 185,345 1.99% Various N/A N/A $ 5,668,217 $ 4,704,852 (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 June 30, 2015 and December 31, 2014, outstanding standby letters of credit totaled $392,941 and $43,326 , respectively. (3) The senior variable rate notes and credit facilities are collateralized by the portfolio investments and cash and cash-equivalents of the respective fund. (4) The LIBOR margin is 1.25% through October 11, 2015, and 2.50% thereafter. (5) The credit facility is collateralized by specific investments of the fund. Of the total balance outstanding, $28.1 million matures in February 2016 and $157.3 million in March 2016. Debt Obligations of CLOs Debt obligations of CLOs represent amounts due to holders of debt securities issued by the CLOs, including term loans held by CLOs that had not priced as of period end. The table below sets forth the outstanding debt obligations of the CLOs for the periods indicated. As of June 30, 2015 As of December 31, 2014 Outstanding Borrowings Fair Value (1) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Outstanding Borrowings Fair Value (1) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Senior secured notes (2) $ 456,916 $ 457,278 2.29% 9.8 $ 456,567 $ 449,167 2.25% 10.3 Senior secured notes (3) 454,124 455,192 2.48% 11.5 453,821 454,274 2.43% 12.0 Senior secured notes (4) 98,594 97,617 2.62% 3.5 85,776 85,468 2.61% 4.0 Senior secured notes (5) 372,994 371,425 2.26% 12.2 405,018 402,649 2.32% 12.7 Senior secured notes (6) 370,170 372,624 2.46% 12.8 — — — — Subordinated note (7) 25,500 22,588 N/A 11.5 25,500 25,500 N/A 12.0 Subordinated note (7) 21,727 20,321 N/A 12.2 23,596 23,596 N/A 12.7 Subordinated note (7) 18,384 17,465 N/A 12.8 — — — — Term loan (8) 100,000 100,000 1.59% 0.4 — — — — Term loan — — — — 151,257 151,257 1.24% 1.8 $ 1,918,409 $ 1,914,510 $ 1,601,535 $ 1,591,911 (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. For recently issued debt obligations, the carrying value approximates fair value. (2) The weighted average interest rate is based on LIBOR plus 2.01% . (3) The weighted average interest rate is based on LIBOR plus 2.21% . (4) 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% . (5) The weighted average interest rate is based on EURIBOR plus 2.26% . (6) The weighted average interest rate is based on EURIBOR plus 2.27% . (7) The subordinated notes do not have a contractual interest rate; instead, they receive distributions from the excess cash flows generated by the CLO. (8) As of June 30, 2015, the term loan had a total facility capacity of $116.7 million . On July 7, 2015, the facility increased to $325.0 million . The interest rate is based on LIBOR plus 1.40% . The unused commitment fee was 0.10% . The debt obligations of the CLOs 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 June 30, 2015, the fair value of the CLO assets was $2.4 billion and consisted of cash, corporate loans, corporate bonds and other securities. Future scheduled principal payments with respect to the debt obligations of the CLOs as of June 30, 2015 were as follows: Remainder of 2015 $ 100,000 2016 — 2017 — 2018 98,594 2019 — Thereafter 1,719,815 Total $ 1,918,409

NON-CONTROLLING REDEEMABLE INTE

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS	6 Months Ended
	Jun. 30, 2015
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. Six Months Ended June 30, 2015 2014 Beginning balance $ 41,681,155 $ 38,834,831 Contributions 3,309,316 4,418,500 Distributions (3,711,727 ) (3,363,672 ) Net income 742,608 2,508,145 Change in distributions payable 544,060 2,673 Change in accrued or deferred contributions 12,267 — Foreign currency translation and other (364,239 ) (23,819 ) Ending balance $ 42,213,440 $ 42,376,658

UNITHOLDERS' CAPITAL

UNITHOLDERS' CAPITAL	6 Months Ended
	Jun. 30, 2015
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 OCGH unitholders, or OCGH non-controlling interest, certain related parties and third parties. 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 June 30, 2015 and December 31, 2014, respectively, OCGH units represented 105,459,544 of the total 153,831,203 Oaktree Operating Group units and 109,088,901 of the total 152,852,620 Oaktree Operating Group units. Based on total allocable Oaktree Operating Group capital of $1,672,925 and $1,640,594 as of June 30, 2015 and December 31, 2014, respectively, the OCGH non-controlling interest was $1,146,877 and $1,170,893 . As of June 30, 2015 and December 31, 2014, non-controlling interests attributable to certain related parties and third parties was $96,576 and $95,068 , respectively. 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 June 30, Six Months Ended June 30, 2015 2014 2015 2014 Weighted average Oaktree Operating Group units outstanding (in thousands): OCGH non-controlling interest 105,467 109,221 106,813 110,887 Class A unitholders 48,372 43,480 46,727 41,600 Total weighted average units outstanding 153,839 152,701 153,540 152,487 Oaktree Operating Group net income: Net income attributable to OCGH non-controlling interest $ 54,240 $ 91,813 $ 163,006 $ 255,371 Net income attributable to Class A unitholders 24,878 36,550 70,188 94,232 Oaktree Operating Group net income (1) $ 79,118 $ 128,363 $ 233,194 $ 349,603 Net income attributable to Oaktree Capital Group, LLC: Oaktree Operating Group net income attributable to Class A unitholders $ 24,878 $ 36,550 $ 70,188 $ 94,232 Non-Operating Group expenses (626 ) (603 ) (960 ) (885 ) Income tax expense of Intermediate Holding Companies (4,438 ) (4,761 ) (11,161 ) (10,367 ) Net income attributable to Oaktree Capital Group, LLC $ 19,814 $ 31,186 $ 58,067 $ 82,980 (1) Oaktree Operating Group net income attributable to other non-controlling interests for the three and six months ended June 30, 2015, respectively, were $1,269 and $604 , and are not reflected in the table above. The effects of changes in the Company’s ownership interest in the Oaktree Operating Group are set forth below: Three Months Ended Six Months Ended 2015 2014 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 19,814 $ 31,186 $ 58,067 $ 82,980 Equity reallocation between controlling and non-controlling interests (559 ) 18 45,202 49,116 Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests $ 19,255 $ 31,204 $ 103,269 $ 132,096 In March 2015, the Company issued and sold 4,600,000 Class A units in a public offering (the “March 2015 Offering”), resulting in $237.8 million in proceeds to the Company. The Company did not retain any proceeds from the sale of Class A units in the March 2015 Offering. The proceeds from the March 2015 Offering were used to acquire interests in the Company’s business from certain of the Company’s directors, employees and other investors, including certain senior executives and other members of the Company’s senior management. Please see notes 10, 11 and 12 for additional information regarding transactions that impacted unitholders’ capital.

EARNINGS PER UNIT

EARNINGS PER UNIT	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER UNIT	EARNINGS PER UNIT The computation of net income per Class A unit is set forth below: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Net income per Class A unit (basic and diluted): (in thousands, except per unit amounts) Net income attributable to Oaktree Capital Group, LLC $ 19,814 $ 31,186 $ 58,067 $ 82,980 Weighted average number of Class A units outstanding (basic and diluted) 48,372 43,480 46,727 41,600 Basic and diluted net income per Class A unit $ 0.41 $ 0.72 $ 1.24 $ 1.99 Vested OCGH units may be exchangeable on a one-for-one basis into Class A units, subject to certain restrictions. As of June 30, 2015, there were 105,459,544 OCGH units outstanding, which are vested or will vest through March 1, 2025, that may ultimately be exchanged into 105,459,544 Class A units. The exchange of these units would proportionally increase the Company’s interest in the Oaktree Operating Group. However, as the restrictions set forth in the exchange agreement were in place at the end of each respective reporting period, those units were not included in the computation of diluted earnings per unit for the three and six months ended June 30, 2015 and 2014. In connection with the August 2014 Highstar acquisition, the Company has a contingent consideration liability that is payable in a combination of cash and fully-vested OCGH units. The amount of contingent consideration, if any, is based on the achievement of certain performance targets over a period of up to seven years from the acquisition date. As of June 30, 2015, no OCGH units were considered issuable under the terms of the contingent consideration arrangement; consequently, no contingently issuable units were included in the computation of diluted earnings per unit for the three and six months ended June 30, 2015. Please see note 13 for more information regarding the contingent consideration liability.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2015
Share-based Compensation [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION Restricted Unit Awards During the six months ended June 30, 2015, the Company granted 1,157,492 restricted OCGH units and 7,940 Class A units to its employees and directors, subject to annual vesting over a weighted average period of approximately 5.0 years . The grant date fair value of OCGH units awarded during the six months ended June 30, 2015 was determined by applying a 20% discount to the Class A unit trading price on the New York Stock Exchange as of the grant date. The calculation of compensation expense for all OCGH units awarded during 2015 assumed a forfeiture rate, based on expected employee turnover, of up to 1.5% annually. As of June 30, 2015, the Company expected to recognize compensation expense on its unvested equity-based awards of $157.7 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 June 30, 2015 and a summary of changes for the six 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, 2014 19,049 $ 50.63 5,070,992 $ 36.21 Granted 7,940 55.75 1,157,492 44.07 Vested (5,403 ) 49.88 (1,339,249 ) 32.15 Forfeited — — (84,173 ) 35.09 Balance, June 30, 2015 21,586 $ 52.70 4,805,062 $ 39.26 As of June 30, 2015, unvested units were expected to vest as follows: Number of Units Weighted Average Remaining Service Term (Years) Class A units 21,586 2.9 OCGH units 4,805,062 4.8 Equity Value Units OCGH equity value units (“EVUs”) represent special limited partnership units in OCGH that entitle the holder the right to receive a one-time special distribution that will be settled in OCGH units, based on value created during a specified period (“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 interim periods during the Term. EVUs also give the holder the right, subject to service vesting and Oaktree performance relative to the accreting Base Value, to receive certain quarterly distributions from OCGH. EVUs do not entitle the holder to any voting rights. On December 2, 2014, OCGH granted 2,000,000 EVUs to Jay S. Wintrob, the Company’s Chief Executive Officer, subject to a five -year vesting schedule through December 2019. The grant agreement provides Mr. Wintrob with certain liquidity rights in respect of the one-time special distribution that will be settled in OCGH units. The Company accounts for those EVUs subject to such liquidity rights as liability-classified awards. As of June 30, 2015, there were 1,000,000 equity-classified EVUs and 1,000,000 liability-classified EVUs outstanding. On February 24, 2015, the Company’s board of directors approved an amendment to certain terms relating to the EVUs granted to Mr. Wintrob. The board of directors determined that it was appropriate to extend Mr. Wintrob’s EVU performance period, and the period during which Mr. Wintrob’s potential payment of OCGH units remains at risk, over two additional years to provide a longer term incentive structure. As a result of the amendment, the number of OCGH units that Mr. Wintrob will receive in respect of the EVUs will generally be determined based on the appreciation of the Class A units and certain distributions made with respect to OCGH units over the period beginning on January 1, 2015 and ending on each of December 31, 2019, December 31, 2020 and December 31, 2021, with one-third of the EVUs recapitalizing on each such date. The amendment was accounted for as a modification of an equity award in the first quarter of 2015 and was immaterial to the Company’s condensed consolidated financial statements. As of June 30, 2015, the Company expected to recognize $13.8 million of compensation expense on its unvested EVUs over the next 4.5 years . Equity-classified EVUs that require future service are expensed on a straight-line basis over the requisite service period. Liability-classified EVUs are remeasured at the end of each quarter. The fair value of EVUs was determined using a Monte Carlo simulation model at the grant date for equity-classified EVUs and as of the period end date for liability-classified EVUs. The fair value is affected by the Class A unit trading price and assumptions regarding certain complex and subjective variables, including the expected Class A unit trading price volatility, distributions and exercise timing, and the risk-free interest rate. The fair value of equity-classified EVUs reflected a 20% lack of marketability discount for the OCGH units that will be issued upon vesting, and an assumed forfeiture rate of zero .

INCOME TAXES AND RELATED PAYMEN

INCOME TAXES AND RELATED PAYMENTS	6 Months Ended
	Jun. 30, 2015
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 estimated nature of many amounts 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. Certain items that cannot be reliably estimated, such as incentive income, are excluded from the estimated annual effective tax rate. The tax expense or benefit stemming from these items is recognized in the same period as the underlying income or expense. Taxing authorities are currently examining certain income tax returns of Oaktree, with certain of these examinations at an advanced stage. The Company believes that it is reasonably possible that one outcome of these current examinations and expiring statutes of limitation on other items may be the release of up to approximately $3.5 million of previously accrued Operating Group income taxes during the four quarters ending June 30, 2016. 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 condensed consolidated 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 2015 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 an estimated deferred tax asset of $73.5 million and an associated liability of $62.5 million for payments to OCGH unitholders under the tax receivable agreement, which together increased capital by $11.0 million . These payments are expected to occur over the period ending approximately in 2037. No amounts were paid under the tax receivable agreement during the six months ended June 30, 2015.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
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 condensed consolidated results of operations, cash flows or financial condition. 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 net asset value. 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 June 30, 2015 and December 31, 2014, the aggregate of such amounts recorded at the fund level in excess of incentive income recognized by the Company was $1,917,356 and $1,915,107 , respectively, for which related direct incentive income compensation expense was estimated to be $922,550 and $930,572 , respectively. Contingent Consideration The Company has a contingent consideration obligation of up to $60.0 million related to the August 2014 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 a period of up to seven years from the acquisition date. As of June 30, 2015, the fair value of the contingent consideration liability was $28.7 million , based on a discount rate of 10% . For the three and six months ended June 30, 2015, respectively, the Company recognized expenses of $0.7 million and $1.5 million associated with changes in the contingent consideration liability. The fair value of the contingent consideration liability is a Level III valuation and was valued using a discounted cash-flow analysis 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 general and administrative expense in the condensed consolidated statements of operations. Commitments to Funds As of June 30, 2015 and December 31, 2014, the Company, generally in the capacity as general partner, had undrawn capital commitments of $444.8 million and $256.0 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 June 30, 2015 and December 31, 2014, the consolidated funds had aggregate potential credit and investment commitments of $1,466.6 million and $1,585.8 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. The aggregate amounts guaranteed were not material to the condensed consolidated financial statements as of June 30, 2015 and December 31, 2014. 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 six months ended June 30, 2015, the consolidated funds provided financial support to portfolio companies totaling $282.3 million and $3.0 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.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2015
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 $167,659 and $159,264 as of June 30, 2015 and December 31, 2014, respectively, based on a discount rate of 10.0% . As of June 30, 2015 December 31, 2014 Due from affiliates: Loans $ 34,328 $ 39,452 Amounts due from non-consolidated funds 1,852 2,525 Payments made on behalf of non-consolidated entities 3,824 3,221 Non-interest bearing advances made to certain non-controlling interest holders and employees 1,738 1,683 Total due from affiliates $ 41,742 $ 46,881 Due to affiliates: Due to OCGH unitholders in connection with the tax receivable agreement (please see note 12) $ 370,949 $ 308,475 Amounts due to senior executives, certain non-controlling interest holders and employees 327 739 Total due to affiliates $ 371,276 $ 309,214 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 debt and generated interest income of $913 and $783 for the six months ended June 30, 2015 and 2014, 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 As of December 31, 2014, the Company leased an airplane for business purposes. On March 23, 2015, the Company exercised a purchase option for $12.5 million . Howard Marks, the Company’s co-chairman, may use this aircraft for personal travel and, pursuant to a policy adopted by the Company 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 for so long as they remain senior executives of the Company, with limited exceptions.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2015
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 intangibles and changes in the contingent consideration liability, (c) differences arising from EVUs that are classified as liability awards under GAAP, but classified as equity awards for segment reporting purposes, (d) income taxes, (e) other income or expenses applicable to Oaktree Capital Group, LLC or its Intermediate Holding Companies and (f) the adjustment for non-controlling interests. 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 June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenues: Management fees $ 185,558 $ 189,119 $ 373,608 $ 377,519 Incentive income 61,148 59,198 214,027 352,074 Investment income 23,365 54,199 76,823 100,679 Total revenues 270,071 302,516 664,458 830,272 Expenses: Compensation and benefits (103,761 ) (92,638 ) (209,615 ) (190,832 ) Equity-based compensation (11,901 ) (5,111 ) (18,924 ) (9,094 ) Incentive income compensation (29,554 ) (30,147 ) (119,656 ) (167,975 ) General and administrative (25,972 ) (31,131 ) (50,322 ) (61,693 ) Depreciation and amortization (2,105 ) (1,815 ) (3,996 ) (3,736 ) Total expenses (173,293 ) (160,842 ) (402,513 ) (433,330 ) Adjusted net income before interest and other income (expense) 96,778 141,674 261,945 396,942 Interest expense, net of interest income (1) (8,782 ) (6,934 ) (17,715 ) (13,559 ) Other income (expense), net (2,650 ) 9 (3,546 ) (1,689 ) Adjusted net income $ 85,346 $ 134,749 $ 240,684 $ 381,694 (1) Interest income was $1.2 million and $0.7 million for the three months ended June 30, 2015 and 2014, respectively, and $2.2 million and $1.8 million for the six months ended June 30, 2015 and 2014, 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 Six Months Ended 2015 2014 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 19,814 $ 31,186 $ 58,067 $ 82,980 Incentive income (1) (5,805 ) (6,102 ) 11,573 58,358 Incentive income compensation (1) 5,657 6,112 (17,553 ) (40,222 ) Equity-based compensation (2) 4,182 5,376 8,865 10,575 Acquisition-related items (3) 1,695 — 3,502 — Income taxes (4) 5,485 5,761 13,360 13,747 Non-Operating Group expenses (5) 626 603 960 885 Non-controlling interests (5) 53,692 91,813 161,910 255,371 Adjusted net income $ 85,346 $ 134,749 $ 240,684 $ 381,694 (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. (2) This adjustment adds back the effect of (a) 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, and (b) differences arising from EVUs that are classified as liability awards under GAAP, but classified as equity awards for segment reporting purposes. (3) This adjustment adds back the effect of acquisition-related items associated with the amortization of intangibles and changes in the contingent consideration liability. (4) Because adjusted net income is a pre-tax measure, this adjustment adds back the effect of income tax expense. (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 non-controlling interests. The following tables reconcile the Company’s segment information to the condensed consolidated financial statements: As of or for the Three Months Ended June 30, 2015 Segment Adjustments Consolidated Management fees (1) $ 185,558 $ (134,635 ) $ 50,923 Incentive income (1) 61,148 (60,584 ) 564 Investment income (1) 23,365 (7,671 ) 15,694 Total expenses (2) (173,293 ) (72,636 ) (245,929 ) Interest expense, net (3) (8,782 ) (43,960 ) (52,742 ) Other income (expense), net (4) (2,650 ) 5,513 2,863 Other income of consolidated funds (5) — (82,526 ) (82,526 ) Income taxes — (5,485 ) (5,485 ) Net income attributable to non-controlling interests in consolidated funds — 391,961 391,961 Net income attributable to non-controlling interests in consolidated subsidiaries — (55,509 ) (55,509 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 85,346 $ (65,532 ) $ 19,814 Corporate investments (6) $ 1,560,235 $ (1,383,557 ) $ 176,678 Total assets (7) $ 3,249,492 $ 51,962,327 $ 55,211,819 (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 $4,010 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $54,920 , (c) expenses incurred by the Intermediate Holding Companies of $652 , (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 $5,657 , (e) acquisition-related items of $1,695 , (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 $5,513 , (g) differences arising from EVUs that are classified as liability awards under GAAP, but classified as equity awards for segment reporting purposes of $173 and (h) other expenses of $16 . (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 $1.6 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 June 30, 2014 Segment Adjustments Consolidated Management fees (1) $ 189,119 $ (137,559 ) $ 51,560 Incentive income (1) 59,198 (59,198 ) — Investment income (1) 54,199 (49,809 ) 4,390 Total expenses (2) (160,842 ) (54,543 ) (215,385 ) Interest expense, net (3) (6,934 ) (18,765 ) (25,699 ) Other income (expense), net 9 — 9 Other income of consolidated funds (4) — 1,498,129 1,498,129 Income taxes — (5,761 ) (5,761 ) Net income attributable to non-controlling interests in consolidated funds — (1,184,244 ) (1,184,244 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (91,813 ) (91,813 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 134,749 $ (103,563 ) $ 31,186 Corporate investments (5) $ 1,468,517 $ (1,300,354 ) $ 168,163 Total assets (6) $ 2,909,825 $ 48,340,012 $ 51,249,837 (1) The adjustment represents the elimination of amounts attributable to the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation charges of $5,376 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $42,452 , (c) expenses incurred by the Intermediate Holding Companies of $603 and (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 $6,112 . (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 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 . (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 Six Months Ended June 30, 2015 Segment Adjustments Consolidated Management fees (1) $ 373,608 $ (271,866 ) $ 101,742 Incentive income (1) 214,027 (213,463 ) 564 Investment income (1) 76,823 (48,447 ) 28,376 Total expenses (2) (402,513 ) (79,390 ) (481,903 ) Interest expense, net (3) (17,715 ) (81,596 ) (99,311 ) Other income (expense), net (4) (3,546 ) 11,103 7,557 Other income of consolidated funds (5) — 1,422,716 1,422,716 Income taxes — (13,360 ) (13,360 ) Net income attributable to non-controlling interests in consolidated funds — (744,704 ) (744,704 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (163,610 ) (163,610 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 240,684 $ (182,617 ) $ 58,067 Corporate investments (6) $ 1,560,235 $ (1,383,557 ) $ 176,678 Total assets (7) $ 3,249,492 $ 51,962,327 $ 55,211,819 (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 $8,605 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $72,430 , (c) expenses incurred by the Intermediate Holding Companies of $987 , (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 $17,553 , (e) acquisition-related items of $3,502 , (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 $11,103 , (g) differences arising from EVUs that are classified as liability awards under GAAP, but classified as equity awards for segment reporting purposes of $261 and (h) other expenses of $55 . (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 $1.6 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 Six Months Ended June 30, 2014 Segment Adjustments Consolidated Management fees (1) $ 377,519 $ (285,528 ) $ 91,991 Incentive income (1) 352,074 (352,074 ) — Investment income (1) 100,679 (91,298 ) 9,381 Total expenses (2) (433,330 ) (40,374 ) (473,704 ) Interest expense, net (3) (13,559 ) (36,140 ) (49,699 ) Other income (expense), net (1,689 ) — (1,689 ) Other income of consolidated funds (4) — 3,284,894 3,284,894 Income taxes — (13,747 ) (13,747 ) Net income attributable to non-controlling interests in consolidated funds — (2,509,076 ) (2,509,076 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (255,371 ) (255,371 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 381,694 $ (298,714 ) $ 82,980 Corporate investments (5) $ 1,468,517 $ (1,300,354 ) $ 168,163 Total assets (6) $ 2,909,825 $ 48,340,012 $ 51,249,837 (1) The adjustment represents the elimination of amounts attributable to the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation charges of $10,575 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $69,136 , (c) expenses incurred by the Intermediate Holding Companies of $885 and (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 $40,222 . (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 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 . (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	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On July 28, 2015, the Company declared a distribution of $0.50 per Class A unit. This distribution, which is related to the second quarter of 2015, will be paid on August 13, 2015 to Class A unitholders of record as of the close of business on August 10, 2015.

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Reclassifications	Reclassifications Certain amounts reported in the condensed consolidated statements of cash flows in the prior period have been reclassified to conform to the current-period presentation.
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 June 30, 2015, this included eight 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 June 30, 2015, the Company consolidated eight 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. The seven remaining VIEs represented CLOs for which the Company acts as collateral manager. Three of the CLOs had not priced as of June 30, 2015. As of December 31, 2014, the Company consolidated six VIEs. There were no VIEs for which the Company was not the primary beneficiary as of June 30, 2015 and December 31, 2014. As of June 30, 2015, the Company consolidated seven CLOs with total assets and liabilities of $2.4 billion and $2.1 billion , respectively. The assets and liabilities, respectively, of the CLOs primarily consisted of investments in debt securities and debt obligations issued by the CLOs. The debt obligations issued by each CLO were collateralized by the same CLO’s investments, 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, both of which are eliminated in consolidation. As of June 30, 2015, the Company had invested an aggregate $209.8 million in its CLOs, which represented its maximum risk of loss as of that date. 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. Please see note 7 for more information on CLO debt obligations. 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. Consequently, 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 interests in consolidated funds in the accompanying condensed consolidated financial statements. All of the revenues earned by Oaktree from the 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 the funds is increased by the amounts eliminated. Thus, the elimination of the 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 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, is called 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 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, related parties 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 identifiable intangible assets acquired in business combinations primarily consist of 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, the inputs used to value 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. Transfers of assets into or out of each fair value hierarchy level as a result of changes in the observability of the inputs used in measuring fair value are accounted for as of the beginning of the reporting period. Transfers resulting from a specific event, such as a reorganization or restructuring, are accounted for as of the date of the event that caused the transfer. 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. With the exception of open-end funds, all unquoted Level III investment values are reviewed and approved by (i) the Company’s valuation officer, who is independent of the investment teams, (ii) a designated investment professional of each strategy and (iii) for a substantial majority of unquoted Level III holdings as measured by market value, a valuation committee for such strategy. For open-end funds, unquoted Level III investment values are reviewed and approved by the Company’s valuation officer. 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 periodically evaluates changes in fair-value measurements for reasonableness, considering items such as industry trends, general economic and market conditions, and factors specific to the investment. Certain 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 specific or similar securities. These investments may be 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. 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 debt obligations of CLOs 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. CLOs’ 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 as 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 April 2015, the Financial Accounting Standards Board (“FASB”) issued guidance that changes the presentation of debt issuance costs in the statements of financial position. Under current GAAP, such costs are reflected in the statements of financial position as a deferred asset. The new guidance will require these costs to be presented as a direct deduction from the related debt liability and to be amortized as interest expense. The amendment does not affect the current guidance on the recognition and measurement of debt issuance costs. The guidance is effective for the Company in the first quarter of 2016 on a retrospective basis, 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 February 2015, the FASB issued guidance that amends the current consolidation guidance and ends the deferral granted to investment companies from applying the VIE guidance. The new guidance does not add or remove any of the five characteristics that determine if an entity is a VIE; rather, it focuses on the consolidation criteria used to evaluate whether certain legal entities should be consolidated. Additionally, the new guidance eliminates the presumption that a general partner should consolidate a limited partnership under the voting model. The amendment is intended to simplify the consolidation guidance by placing more emphasis on risk of loss when determining a controlling financial interest, reducing the frequency of the application of related-party guidance when determining a controlling financial interest in a VIE and providing more clarity for reporting entities that typically make use of limited partnerships or VIEs. The guidance is effective for the Company in the first quarter of 2016 on either a full or modified retrospective basis, with early adoption permitted. Under the modified retrospective approach, prior years would not be restated; instead, a cumulative-effect adjustment to equity as of the beginning of the adoption year would be recorded. The Company may elect to early adopt and is currently evaluating the effect that adoption will have on its condensed consolidated financial statements. In August 2014, the 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 will 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. On July 9, 2015, the FASB delayed the effective date of the guidance by one year. The guidance will be effective for the Company in the first quarter of 2018 on either a full or modified retrospective basis, with early adoption permitted no earlier than the original effective date, or the first quarter of 2017. The Company is currently evaluating the effect that adoption will have on its condensed consolidated financial statements.

INVESTMENTS, AT FAIR VALUE (Tab

INVESTMENTS, AT FAIR VALUE (Tables)	6 Months Ended
	Jun. 30, 2015
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: June 30, 2015 December 31, June 30, December 31, United States: Debt securities: Consumer discretionary $ 3,442,732 $ 3,173,576 7.1 % 6.8 % Consumer staples 752,278 692,890 1.5 1.5 Energy 1,250,106 1,028,317 2.6 2.2 Financials 1,198,578 805,337 2.5 1.7 Government 127,194 140,053 0.3 0.3 Health care 1,213,421 1,010,462 2.5 2.2 Industrials 1,830,943 1,795,909 3.8 3.9 Information technology 1,277,136 1,167,635 2.6 2.5 Materials 1,466,542 1,288,947 3.0 2.8 Telecommunication services 449,576 372,457 0.9 0.8 Utilities 809,833 1,409,408 1.7 3.0 Total debt securities (cost: $14,883,759 and $13,611,109 as of June 30, 2015 and December 31, 2014, respectively) 13,818,339 12,884,991 28.5 27.7 Equity securities: Consumer discretionary 2,187,390 2,475,318 4.5 5.3 Consumer staples 846,003 530,305 1.7 1.1 Energy 1,373,804 1,756,480 2.8 3.8 Financials 7,811,587 7,720,904 16.1 16.6 Health care 223,218 224,705 0.5 0.5 Industrials 2,418,737 2,970,356 5.0 6.4 Information technology 71,428 176,097 0.1 0.4 Materials 1,060,419 1,207,523 2.2 2.6 Telecommunication services 23,182 21,616 0.0 0.0 Utilities 894,671 329,175 1.8 0.7 Total equity securities (cost: $13,848,518 and $13,911,333 as of June 30, 2015 and December 31, 2014, respectively) 16,910,439 17,412,479 34.7 37.4 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments: June 30, December 31, June 30, December 31, Europe: Debt securities: Consumer discretionary $ 1,363,663 $ 1,371,689 2.8 % 3.0 % Consumer staples 243,992 242,513 0.5 0.5 Energy 316,277 370,456 0.7 0.8 Financials 777,729 803,468 1.6 1.7 Government 19,833 — 0.0 — Health care 191,938 147,661 0.4 0.3 Industrials 315,754 344,642 0.6 0.7 Information technology 41,650 41,960 0.1 0.1 Materials 401,775 421,327 0.8 0.9 Telecommunication services 220,463 142,322 0.5 0.3 Utilities 7,427 24,668 0.0 0.1 Total debt securities (cost: $4,123,075 and $3,803,751 as of June 30, 2015 and December 31, 2014, respectively) 3,900,501 3,910,706 8.0 8.4 Equity securities: Consumer discretionary 240,288 311,847 0.5 0.7 Consumer staples 141,174 59,628 0.3 0.1 Energy 29,607 92,416 0.1 0.2 Financials 6,292,496 4,760,386 12.9 10.2 Government — 635 — 0.0 Health care 74,510 52,887 0.2 0.1 Industrials 1,433,125 1,226,825 2.9 2.6 Information technology 14,363 1,190 0.0 0.0 Materials 481,237 398,559 1.0 0.9 Telecommunication services 22,330 — 0.0 — Utilities 194,307 — 0.3 — Total equity securities (cost: $7,215,300 and $5,884,950 as of June 30, 2015 and December 31, 2014, respectively) 8,923,437 6,904,373 18.2 14.8 Asia and other: Debt securities: Consumer discretionary 117,142 140,732 0.2 0.3 Consumer staples 3,228 7,927 0.0 0.0 Energy 250,048 217,299 0.5 0.5 Financials 21,890 18,935 0.0 0.0 Government 13,335 50,073 0.0 0.1 Health care 81,010 48,977 0.2 0.1 Industrials 295,322 420,323 0.6 0.9 Information technology 27,545 23,555 0.1 0.1 Materials 269,744 252,965 0.6 0.6 Telecommunication services 705 — 0.0 — Utilities 9,242 9,113 0.0 0.0 Total debt securities (cost: $1,055,818 and $1,168,453 as of June 30, 2015 and December 31, 2014, respectively) 1,089,211 1,189,899 2.2 2.6 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments: June 30, December 31, June 30, December 31, Asia and other: Equity securities: Consumer discretionary $ 863,285 $ 664,077 1.8 % 1.4 % Consumer staples 75,427 113,471 0.2 0.2 Energy 373,302 298,040 0.8 0.6 Financials 853,575 1,518,532 1.8 3.3 Health care 23,476 22,899 0.0 0.1 Industrials 1,087,708 937,455 2.2 2.0 Information technology 323,882 322,592 0.7 0.7 Materials 135,170 145,657 0.3 0.3 Telecommunication services 85,521 39,244 0.2 0.1 Utilities 182,601 169,384 0.4 0.4 Total equity securities (cost: $3,714,749 and $3,393,453 as of June 30, 2015 and December 31, 2014, respectively) 4,003,947 4,231,351 8.4 9.1 Total debt securities 18,808,051 17,985,596 38.7 38.7 Total equity securities 29,837,823 28,548,203 61.3 61.3 Total investments, at fair value $ 48,645,874 $ 46,533,799 100.0 % 100.0 % Securities Sold Short: Debt securities (proceeds: $2,108 and $0 as of June 30, 2015 and December 31, 2014, respectively) $ (2,168 ) $ — Equity securities (proceeds: $128,060 and $70,760 as of June 30, 2015 and December 31, 2014, respectively) (119,492 ) (64,438 ) Total securities sold short, at fair value $ (121,660 ) $ (64,438 )
Net Gains (Losses) from Investment Activities of Consolidated Funds	The following table summarizes net gains (losses) from investment activities: Three Months Ended June 30, 2015 2014 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 $ 707,427 $ (1,018,970 ) $ 521,367 $ 724,377 Foreign currency forward contracts (1) 175,334 (339,448 ) (37,212 ) (4,095 ) Total-return, credit-default and interest-rate swaps (1) (2,248 ) (56,008 ) 44,017 (20,983 ) Options and futures (1) (21,778 ) (5,150 ) (13,994 ) 3,865 Swaptions (1)(2) (1,187 ) 1,191 — (3,274 ) Total $ 857,548 $ (1,418,385 ) $ 514,178 $ 699,890 Six Months Ended June 30, 2015 2014 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 $ 875,226 $ (461,655 ) $ 1,239,490 $ 1,499,699 Foreign currency forward contracts (1) 471,310 (319,064 ) (94,188 ) (4,263 ) Total-return, credit-default and interest-rate swaps (1) (7,174 ) (116,226 ) 43,915 (13,564 ) Options and futures (1) (3,977 ) (16,299 ) (20,888 ) (6,192 ) Swaptions (1)(2) (3,007 ) 2,342 — (5,312 ) Total $ 1,332,378 $ (910,902 ) $ 1,168,329 $ 1,470,368 (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)	6 Months Ended
	Jun. 30, 2015
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. Please see notes 7 and 14 for the fair value of the Company’s outstanding debt obligations and amounts due from/to affiliates, respectively. As of June 30, 2015 As of December 31, 2014 Level I Level II Level III Total Level I Level II Level III Total Assets U.S. Treasury securities (1) $ 681,197 $ — $ — $ 681,197 $ 655,529 $ — $ — $ 655,529 Corporate investments — 18,115 — 18,115 23,660 17,154 — 40,814 Forward currency contracts (2) — 21,485 — 21,485 — 24,499 — 24,499 Total assets $ 681,197 $ 39,600 $ — $ 720,797 $ 679,189 $ 41,653 $ — $ 720,842 Liabilities Contingent consideration (3) $ — $ — $ (28,746 ) $ (28,746 ) $ — $ — $ (27,245 ) $ (27,245 ) Forward currency contracts (3) — (1,839 ) — (1,839 ) — (3,439 ) — (3,439 ) Interest-rate swaps (3) — (2,034 ) — (2,034 ) — (2,317 ) — (2,317 ) Total liabilities $ — $ (3,873 ) $ (28,746 ) $ (32,619 ) $ — $ (5,756 ) $ (27,245 ) $ (33,001 ) (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 June 30, 2015 As of December 31, 2014 Level I Level II Level III Total Level I Level II Level III Total Assets Investments: Corporate debt – bank debt $ — $ 8,581,654 $ 1,399,277 $ 9,980,931 $ — $ 8,135,722 $ 1,555,656 $ 9,691,378 Corporate debt – all other 5,654 5,906,092 2,915,374 8,827,120 4,039 5,539,518 2,750,661 8,294,218 Equities – common stock 5,805,336 311,086 9,703,009 15,819,431 6,042,583 505,459 9,044,579 15,592,621 Equities – preferred stock 1,884 — 1,659,738 1,661,622 3,148 — 1,320,752 1,323,900 Real estate — — 9,572,902 9,572,902 — — 9,216,056 9,216,056 Real estate loan portfolios — — 2,779,472 2,779,472 — — 2,399,105 2,399,105 Other — — 4,396 4,396 945 — 15,576 16,521 Total investments 5,812,874 14,798,832 28,034,168 48,645,874 6,050,715 14,180,699 26,302,385 46,533,799 Derivatives: Forward currency contracts — 70,550 — 70,550 — 254,929 — 254,929 Swaps — 7,296 — 7,296 — 4,217 — 4,217 Options and futures 2,697 22,300 — 24,997 — 36,568 — 36,568 Swaptions — 114 — 114 — 483 — 483 Total derivatives 2,697 100,260 — 102,957 — 296,197 — 296,197 Total assets $ 5,815,571 $ 14,899,092 $ 28,034,168 $ 48,748,831 $ 6,050,715 $ 14,476,896 $ 26,302,385 $ 46,829,996 Liabilities Securities sold short: Debt securities $ — $ (2,168 ) $ — $ (2,168 ) $ — $ — $ — $ — Equity securities (117,666 ) (1,826 ) — (119,492 ) (64,438 ) — — (64,438 ) Total securities sold short (117,666 ) (3,994 ) — (121,660 ) (64,438 ) — — (64,438 ) Derivatives: Forward currency contracts — (174,400 ) — (174,400 ) — (54,663 ) — (54,663 ) Swaps — (291,904 ) (8,644 ) (300,548 ) — (172,672 ) (10,687 ) (183,359 ) Options and futures (178 ) (5,634 ) — (5,812 ) (11,051 ) (3,918 ) — (14,969 ) Swaptions — — — — — (518 ) — (518 ) Total derivatives (178 ) (471,938 ) (8,644 ) (480,760 ) (11,051 ) (231,771 ) (10,687 ) (253,509 ) Total liabilities $ (117,844 ) $ (475,932 ) $ (8,644 ) $ (602,420 ) $ (75,489 ) $ (231,771 ) $ (10,687 ) $ (317,947 )
Summary of Changes in Fair Value of Level III Investments	The following tables set forth a summary of changes in the fair value of 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 June 30, 2015: Beginning balance $ 1,573,508 $ 2,772,859 $ 10,156,394 $ 1,381,135 $ 9,728,967 $ 2,406,252 $ (6,988 ) $ 3,576 $ 28,015,703 Transfers into Level III 9,598 17,208 50,976 11,199 — — — — 88,981 Transfers out of Level III (42,396 ) (78,250 ) (523,407 ) (20,382 ) — — — — (664,435 ) Purchases 42,721 314,898 341,691 147,396 658,056 476,637 — — 1,981,399 Sales (185,407 ) (84,407 ) (349,498 ) (2,760 ) (890,418 ) (213,495 ) — — (1,725,985 ) Realized gains (losses), net 10,604 (35,773 ) 73,211 (1,153 ) 432,658 67,817 — — 547,364 Unrealized appreciation (depreciation), net (9,351 ) 8,839 (46,358 ) 144,303 (356,361 ) 42,261 (1,656 ) 820 (217,503 ) Ending balance $ 1,399,277 $ 2,915,374 $ 9,703,009 $ 1,659,738 $ 9,572,902 $ 2,779,472 $ (8,644 ) $ 4,396 $ 28,025,524 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (12,235 ) $ (76,879 ) $ (12,504 ) $ 1,253 $ (335,645 ) $ 27,778 $ (225 ) $ 820 $ (407,637 ) Three Months Ended June 30, 2014: Beginning balance $ 2,584,354 $ 2,067,344 $ 7,613,726 $ 1,145,630 $ 6,976,625 $ 2,413,412 $ (2,902 ) $ 14,681 $ 22,812,870 Transfers into Level III 91,377 162,396 — — 126,815 — — — 380,588 Transfers out of Level III (576,732 ) (12,505 ) (153,277 ) (2,695 ) — — — — (745,209 ) Purchases 149,281 155,312 721,381 32,180 892,583 413,728 — — 2,364,465 Sales (332,258 ) (72,245 ) (43,730 ) (26,898 ) (275,465 ) (364,698 ) — — (1,115,294 ) Realized gains (losses), net 61,332 3,536 6,034 (16,057 ) 43,922 30,579 — — 129,346 Unrealized appreciation (depreciation), net (32,963 ) 42,670 190,487 68,556 256,090 23,806 3,738 206 552,590 Ending 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 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ 66,167 $ 30,659 $ 204,821 $ 40,813 $ 300,342 $ 17,597 $ (1,248 ) $ 173 $ 659,324 Corporate Debt – Bank Debt Corporate Debt – All Other Equities – Common Stock Equities – Preferred Stock Real Estate Real Estate Loan Portfolios Swaps Other Total Six Months Ended June 30, 2015: Beginning balance $ 1,555,656 $ 2,750,661 $ 9,056,579 $ 1,320,752 $ 9,216,056 $ 2,399,105 $ (10,687 ) $ 3,576 $ 26,291,698 Transfers into Level III 116,533 17,208 377,563 15,835 — — — — 527,139 Transfers out of Level III (145,998 ) (110,084 ) (523,423 ) (32,583 ) — — — — (812,088 ) Purchases 224,751 566,463 1,194,127 205,128 949,574 605,915 — — 3,745,958 Sales (340,767 ) (163,351 ) (442,219 ) (54,947 ) (985,355 ) (303,387 ) — — (2,290,026 ) Realized gains (losses), net 25,407 (32,499 ) (66,126 ) 37,384 479,057 98,628 — — 541,851 Unrealized appreciation (depreciation), net (36,305 ) (113,024 ) 106,508 168,169 (86,430 ) (20,789 ) 2,043 820 20,992 Ending balance $ 1,399,277 $ 2,915,374 $ 9,703,009 $ 1,659,738 $ 9,572,902 $ 2,779,472 $ (8,644 ) $ 4,396 $ 28,025,524 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (17,619 ) $ (43,928 ) $ 192,837 $ 109,462 $ 92,476 $ (35,272 ) $ 2,043 $ 820 $ 300,819 Six Months Ended June 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 Transfers into Level III 812,821 162,546 424,682 — 128,577 — — — 1,528,626 Transfers out of Level III (1,548,747 ) (18,871 ) (493,348 ) (6,544 ) (90,896 ) — — — (2,158,406 ) Purchases 404,224 279,296 1,521,509 176,697 1,693,378 650,412 — 1,000 4,726,516 Sales (607,003 ) (609,238 ) (317,313 ) (68,278 ) (577,800 ) (650,037 ) — — (2,829,669 ) Realized gains (losses), net 105,476 119,038 65,410 (16,085 ) 96,125 57,439 — — 427,403 Unrealized appreciation (depreciation), net (31,817 ) (18,442 ) 433,666 195,155 549,892 89,572 836 179 1,219,041 Ending 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 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ 41,435 $ 79,614 $ 559,032 $ 181,909 $ 598,517 $ 89,572 $ 836 $ 178 $ 1,551,093
Summary of Valuation Techniques and Quantitative Information	The following table sets forth a summary of the valuation techniques and quantitative information utilized in determining the fair value of the consolidated funds’ Level III investments as of June 30, 2015: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) Credit-oriented investments: Consumer discretionary: $ 204,890 Discounted cash flow (1) Discount rate 5% – 12% 11% 483,130 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 8x 6x 94,281 Recent transaction price (5) Not applicable Not applicable Not applicable 82,023 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Financials: 528,940 Discounted cash flow (1) Discount rate 7% – 14% 11% 245,515 Market approach (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 250,164 Recent transaction price (5) Not applicable Not applicable Not applicable 96,267 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Industrials: 192,524 Discounted cash flow (1) Discount rate 5% – 15% 12% 198,564 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 10% – 14% 12% 4,345 Market approach (comparable companies) (2) Earnings multiple (3) 5x – 6x 6x 83,263 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 1.0x – 1.1x 1x 38,790 Recent transaction price (5) Not applicable Not applicable Not applicable 17,804 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Materials: 353,524 Discounted cash flow (1) Discount rate 11% – 13% 12% 212,223 Market approach (comparable companies) (2) Earnings multiple (3) 7x – 10x 7x Other: 552,278 Discounted cash flow (1) Discount rate 5% – 14% 12% 165,819 Market approach (2) Earnings multiple (3) 7x – 8x 8x 168,994 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 37,329 Recent transaction price (5) Not applicable Not applicable Not applicable 295,340 Recent market information (6) Quoted prices / discount Not applicable Not applicable Equity investments: Energy: 37,130 Discounted cash flow (1) Discount rate 10% – 12% 11% 800,801 Market approach (2) Earnings multiple (3) 7x – 16x 13x Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) $ 64,531 Recent transaction price (5) Not applicable Not applicable Not applicable 43,265 Recent market information (6) Quoted prices / discount Not applicable Not applicable 186,091 Other Not applicable Not applicable Not applicable Financials: 977,495 Market approach (2)(4) Underlying asset multiple 1x – 1.4x 1.1x 200,116 Recent transaction price (5) Not applicable Not applicable Not applicable 153,886 Recent market information (6) Quoted prices / discount Not applicable Not applicable Industrials: 2,027,904 Market approach (2) Earnings multiple (3) 5x – 11x 8x 2,082,863 Market approach (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 344,118 Recent transaction price (5) Not applicable Not applicable Not applicable 259,734 Recent market information (6) Quoted prices / discount Not applicable Not applicable Materials: 1,094,430 Market approach (comparable companies) (2) Earnings multiple (3) 4x – 10x 8x 207,692 Recent transaction price (5) Not applicable Not applicable Not applicable Other: 132,194 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 8% – 10% 9% 2,027,095 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 11x 8x 314,016 Recent transaction price (5) Not applicable Not applicable Not applicable 163,050 Recent market information (6) Quoted prices / discount 0% – 5% 0% 246,336 Other Not applicable Not applicable Not applicable Real estate-oriented investments: 3,875,135 Discounted cash flow (1)(7) Discount rate 6% – 44% 13% Terminal capitalization rate 5% – 10% 7% Direct capitalization rate 5% – 10% 7% Net operating income growth rate 0% – 47% 11% Absorption rate 21% – 50% 39% 217,427 Market approach (comparable companies) (2) Earnings multiple (3) 10x – 12x 12x 947,359 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 1x – 1.8x 1.6x 643,885 Recent transaction price (5) Not applicable Not applicable Not applicable 117,524 Recent market information (6) / Market approach (comparable companies) (2) Quoted prices / discount (discount not applicable) / Earnings multiple (3) 7x – 9x 8x 2,389,976 Recent market information (6) Quoted prices / discount 0% – 6% 4% 1,286,398 Sales approach (8) Market transactions Not applicable Not applicable 95,198 Other Not applicable Not applicable Not applicable Real estate loan portfolios: 2,003,132 Discounted cash flow (1)(7) Discount rate 8% – 20% 13% 776,340 Recent transaction price (5) Not applicable Not applicable Not applicable Other 4,396 Total Level III investments $ 28,025,524 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 December 31, 2014: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) Credit-oriented investments: Consumer discretionary: $ 164,401 Discounted cash flow (1) Discount rate 5% – 12% 11% 487,784 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 10x 5x 133,410 Recent transaction price (5) Not applicable Not applicable Not applicable 119,219 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Financials: 280,827 Discounted cash flow (1) Discount rate 9% – 14% 12% 205,639 Market approach (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 228,804 Recent transaction price (5) Not applicable Not applicable Not applicable 55,472 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Industrials: 240,935 Discounted cash flow (1) Discount rate 5% – 20% 13% 206,763 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 10% – 14% 12% 13,358 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 8x 7x 83,020 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 121,888 Recent transaction price (5) Not applicable Not applicable Not applicable 113,500 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Materials: 77,008 Discounted cash flow (1) Discount rate 11% – 13% 12% 189,081 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 15% – 17% 16% 250,803 Market approach (comparable companies) (2) Earnings multiple (3) 6x – 8x 7x 64,490 Recent transaction price (5) Not applicable Not applicable Not applicable Other: 449,065 Discounted cash flow (1) Discount rate 5% – 13% 11% 376,237 Market approach (2) Earnings multiple (3) 7x – 8x 8x 123,842 Recent transaction price (5) Not applicable Not applicable Not applicable 310,084 Recent market information (6) Quoted prices / discount Not applicable Not applicable Equity investments: Energy: 47,524 Discounted cash flow (1) Discount rate 10% – 12% 11% 1,045,233 Market approach (2) Earnings multiple (3) 5x – 18x 12x 60,409 Recent transaction price (5) Not applicable Not applicable Not applicable 432,717 Other Not applicable Not applicable Not applicable Financials: 116,328 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 6% – 8% 7% 646,720 Market approach (2)(4) Underlying asset multiple 1x – 1.1x 1x 171,844 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) $ 140,804 Recent market information (6) Quoted prices / discount Not applicable Not applicable Industrials: 2,086,026 Market approach (2) Earnings multiple (3) 3x – 15x 9x 2,313,549 Market approach (2)(4) Underlying asset multiple 1x – 1.2x 1x 100,655 Recent transaction price (5) Not applicable Not applicable Not applicable 397,377 Recent market information (6) Quoted prices / discount Not applicable Not applicable Materials: 1,154,908 Market approach (comparable companies) (2) Earnings multiple (3) 4x – 11x 8x 70,123 Recent transaction price (5) Not applicable Not applicable Not applicable 1,477 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Other: 1,371,935 Market approach (comparable companies) (2) Earnings multiple (3) 4x – 12x 8x 55,769 Recent transaction price (5) Not applicable Not applicable Not applicable 151,933 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Real estate-oriented investments: 3,276,236 Discounted cash flow (1)(7) Discount rate 6% – 44% 13% Terminal capitalization rate 6% – 10% 8% Direct capitalization rate 5% – 9% 7% Net operating income growth rate 0% – 37% 10% Absorption rate 19% – 44% 38% 262,218 Market approach (comparable companies) (2) Earnings multiple (3) 12x – 18x 13x 766,755 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 1x – 1.5x 1.4x 915,247 Recent transaction price (5) Not applicable Not applicable Not applicable 2,625,026 Recent market information (6) Quoted prices / discount 0% – 6% 4% 245,316 Recent market information (6) / Market approach (comparable companies) (2) Quoted prices / discount Earnings multiple (3) 7x – 9x 8x 1,075,459 Sales approach (8) Market transactions Not applicable Not applicable 49,799 Other Not applicable Not applicable Not applicable Real estate loan portfolios: 2,019,261 Discounted cash flow (1)(7) Discount rate 8% – 16% 13% 379,844 Recent transaction price (5) Not applicable Not applicable Not applicable Other 15,576 Total Level III investments $ 26,291,698 (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 I27

HEDGES AND OTHER DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
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 June 30, 2015: Contract Amount in Local Currency Contract Amount in U.S. Dollars Market Value in U.S. Dollars Net Unrealized Appreciation (Depreciation) Euro, expiring 7/8/15-10/7/16 225,220 $ 266,360 $ 251,798 $ 14,562 USD (buy GBP), expiring 7/31/15-4/29/16 84,866 84,866 82,670 2,196 Japanese Yen, expiring 9/30/15-6/30/16 8,820,600 75,319 72,431 2,888 Total $ 426,545 $ 406,899 $ 19,646 As of December 31, 2014: Euro, expiring 1/8/15-12/31/15 206,820 $ 266,569 $ 250,789 $ 15,780 USD (buy GBP), expiring 1/8/15-12/31/15 88,081 88,081 91,485 (3,404 ) Japanese Yen, expiring 1/30/15-12/30/15 7,420,600 70,784 62,100 8,684 Total $ 425,434 $ 404,374 $ 21,060
Summary of Impact of Freestanding Derivative Instruments on Condensed Consolidated Statement 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 June 30, 2015 2014 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 $ 175,334 $ (339,448 ) $ (37,212 ) $ (4,095 ) Total-return, credit-default and interest-rate swaps (2,248 ) (56,008 ) 44,017 (20,983 ) Options and futures (21,778 ) (5,150 ) (13,994 ) 3,865 Swaptions (1,187 ) 1,191 — (3,274 ) Total $ 150,121 $ (399,415 ) $ (7,189 ) $ (24,487 ) Six Months Ended June 30, 2015 2014 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 $ 471,310 $ (319,064 ) $ (94,188 ) $ (4,263 ) Total-return, credit-default and interest-rate swaps (7,174 ) (116,226 ) 43,915 (13,564 ) Options and futures (3,977 ) (16,299 ) (20,888 ) (6,192 ) Swaptions (3,007 ) 2,342 — (5,312 ) Total $ 457,152 $ (449,247 ) $ (71,161 ) $ (29,331 ) Realized and unrealized gains and losses arising from freestanding derivative instruments were recorded in the condensed consolidated statements of operations as follows: Three Months Ended June 30, Six Months Ended June 30, Foreign Currency Forward Contracts: 2015 2014 2015 2014 General and administrative expenses (1) $ (1,114 ) $ 2,142 $ 22,841 $ 1,094 Total-return Swap: Investment income $ — $ — $ — $ 2,554 (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.
Balance Sheet Offsetting Assets	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” columns represent 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 June 30, 2015 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign currency forward contracts $ 21,485 $ — $ 21,485 $ 3,873 $ — $ 17,612 Derivative assets of consolidated funds: Foreign currency forward contracts 70,550 — 70,550 42,836 — 27,714 Total-return, credit-default and interest-rate swaps 7,296 — 7,296 160 — 7,136 Options and futures 24,997 — 24,997 8,401 — 16,596 Swaptions 114 — 114 114 — — Subtotal 102,957 — 102,957 51,511 — 51,446 Total $ 124,442 $ — $ 124,442 $ 55,384 $ — $ 69,058 Derivative Liabilities: Foreign currency forward contracts $ (1,839 ) $ — $ (1,839 ) $ (1,839 ) $ — $ — Interest-rate swaps (2,034 ) — (2,034 ) (2,034 ) — — Subtotal (3,873 ) — (3,873 ) (3,873 ) — — Derivative liabilities of consolidated funds: Foreign currency forward contracts (174,400 ) — (174,400 ) (42,836 ) (7,642 ) (123,922 ) Total-return, credit-default and interest-rate swaps (300,548 ) — (300,548 ) (2,880 ) (248,672 ) (48,996 ) Options and futures (5,812 ) — (5,812 ) (5,795 ) (17 ) — Subtotal (480,760 ) — (480,760 ) (51,511 ) (256,331 ) (172,918 ) Total $ (484,633 ) $ — $ (484,633 ) $ (55,384 ) $ (256,331 ) $ (172,918 ) 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, 2014 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign currency forward contracts $ 24,499 $ — $ 24,499 $ 5,756 $ — $ 18,743 Derivative assets of consolidated funds: Foreign currency forward contracts 254,929 — 254,929 51,260 — 203,669 Total-return, credit-default and interest-rate swaps 4,217 — 4,217 512 — 3,705 Options and futures 36,568 — 36,568 12,605 — 23,963 Swaptions 483 — 483 483 — — Subtotal 296,197 — 296,197 64,860 — 231,337 Total $ 320,696 $ — $ 320,696 $ 70,616 $ — $ 250,080 Derivative Liabilities: Foreign currency forward contracts $ (3,439 ) $ — $ (3,439 ) $ (3,439 ) $ — $ — Interest-rate swaps (2,317 ) — (2,317 ) (2,317 ) — — Subtotal (5,756 ) — (5,756 ) (5,756 ) — — Derivative liabilities of consolidated funds: Foreign currency forward contracts (54,663 ) — (54,663 ) (51,088 ) — (3,575 ) Total-return, credit-default and interest-rate swaps (183,359 ) — (183,359 ) (9,427 ) (156,011 ) (17,921 ) Options and futures (14,969 ) — (14,969 ) (3,863 ) (11,106 ) — Swaptions (518 ) (518 ) (483 ) — (35 ) Subtotal (253,509 ) — (253,509 ) (64,861 ) (167,117 ) (21,531 ) Total $ (259,265 ) $ — $ (259,265 ) $ (70,617 ) $ (167,117 ) $ (21,531 )
Balance Sheet Offsetting Assets Liabilities	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” columns represent 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 June 30, 2015 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign currency forward contracts $ 21,485 $ — $ 21,485 $ 3,873 $ — $ 17,612 Derivative assets of consolidated funds: Foreign currency forward contracts 70,550 — 70,550 42,836 — 27,714 Total-return, credit-default and interest-rate swaps 7,296 — 7,296 160 — 7,136 Options and futures 24,997 — 24,997 8,401 — 16,596 Swaptions 114 — 114 114 — — Subtotal 102,957 — 102,957 51,511 — 51,446 Total $ 124,442 $ — $ 124,442 $ 55,384 $ — $ 69,058 Derivative Liabilities: Foreign currency forward contracts $ (1,839 ) $ — $ (1,839 ) $ (1,839 ) $ — $ — Interest-rate swaps (2,034 ) — (2,034 ) (2,034 ) — — Subtotal (3,873 ) — (3,873 ) (3,873 ) — — Derivative liabilities of consolidated funds: Foreign currency forward contracts (174,400 ) — (174,400 ) (42,836 ) (7,642 ) (123,922 ) Total-return, credit-default and interest-rate swaps (300,548 ) — (300,548 ) (2,880 ) (248,672 ) (48,996 ) Options and futures (5,812 ) — (5,812 ) (5,795 ) (17 ) — Subtotal (480,760 ) — (480,760 ) (51,511 ) (256,331 ) (172,918 ) Total $ (484,633 ) $ — $ (484,633 ) $ (55,384 ) $ (256,331 ) $ (172,918 ) 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, 2014 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign currency forward contracts $ 24,499 $ — $ 24,499 $ 5,756 $ — $ 18,743 Derivative assets of consolidated funds: Foreign currency forward contracts 254,929 — 254,929 51,260 — 203,669 Total-return, credit-default and interest-rate swaps 4,217 — 4,217 512 — 3,705 Options and futures 36,568 — 36,568 12,605 — 23,963 Swaptions 483 — 483 483 — — Subtotal 296,197 — 296,197 64,860 — 231,337 Total $ 320,696 $ — $ 320,696 $ 70,616 $ — $ 250,080 Derivative Liabilities: Foreign currency forward contracts $ (3,439 ) $ — $ (3,439 ) $ (3,439 ) $ — $ — Interest-rate swaps (2,317 ) — (2,317 ) (2,317 ) — — Subtotal (5,756 ) — (5,756 ) (5,756 ) — — Derivative liabilities of consolidated funds: Foreign currency forward contracts (54,663 ) — (54,663 ) (51,088 ) — (3,575 ) Total-return, credit-default and interest-rate swaps (183,359 ) — (183,359 ) (9,427 ) (156,011 ) (17,921 ) Options and futures (14,969 ) — (14,969 ) (3,863 ) (11,106 ) — Swaptions (518 ) (518 ) (483 ) — (35 ) Subtotal (253,509 ) — (253,509 ) (64,861 ) (167,117 ) (21,531 ) Total $ (259,265 ) $ — $ (259,265 ) $ (70,617 ) $ (167,117 ) $ (21,531 )

DEBT OBLIGATIONS AND CREDIT F28

DEBT OBLIGATIONS AND CREDIT FACILITIES (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Obligations	The Company’s debt obligations are set forth below: As of June 30, 2015 December 31, 2014 $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, rate as described below, term loan issued in March 2014, payable on March 31, 2019 250,000 250,000 $50,000, 3.91%, issued in September 2014, payable on September 3, 2024 50,000 50,000 $100,000, 4.01%, issued in September 2014, payable on September 3, 2026 100,000 100,000 $100,000, 4.21%, issued in September 2014, payable on September 3, 2029 100,000 100,000 Total remaining principal $ 850,000 $ 850,000
Future Principal Payments of Debt Obligations	Future scheduled principal payments with respect to the debt obligations of the CLOs as of June 30, 2015 were as follows: Remainder of 2015 $ 100,000 2016 — 2017 — 2018 98,594 2019 — Thereafter 1,719,815 Total $ 1,918,409 Future scheduled principal payments of debt obligations as of June 30, 2015 were as follows: Remainder of 2015 $ — 2016 100,000 2017 — 2018 — 2019 500,000 Thereafter 250,000 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 Margin (1) Maturity Commitment Fee Rate L/C Fee (2) June 30, 2015 December 31, 2014 Credit facility (3) $ 434,000 $ 434,000 $ 435,000 1.45% 11/14/2018 N/A N/A Senior variable rate notes (3) 249,500 249,500 $ 249,500 1.55% 10/20/2022 N/A N/A Senior variable rate notes (3) 499,526 499,322 $ 500,000 1.20% 4/20/2023 N/A N/A Senior variable rate notes (3) 402,445 402,422 $ 402,500 1.20% 7/20/2023 N/A N/A Senior variable rate notes (3) 64,500 64,500 $ 64,500 1.65% 7/20/2023 N/A N/A Senior variable rate notes (3) 420,000 420,000 $ 420,000 1.47% 8/15/2025 N/A N/A Senior variable rate notes (3) 84,576 84,399 $ 86,000 2.10% 8/15/2025 N/A N/A Credit facility (3)(4) 10,000 — $ 650,000 1.25% 4/11/2017 N/A N/A Senior variable rate notes (3) 332,759 332,706 $ 333,000 1.56% 11/15/2025 N/A N/A Senior variable rate notes (3) 76,801 76,648 $ 78,000 2.30% 11/15/2025 N/A N/A Senior variable rate notes (3) 39,154 39,049 $ 40,000 3.20% 11/15/2025 N/A N/A Senior variable rate notes (3) 307,500 — $ 307,500 1.55% 2/15/2026 N/A N/A Senior variable rate notes (3) 64,815 — $ 65,000 2.30% 2/15/2026 N/A N/A Senior variable rate notes (3) 36,943 — $ 37,500 3.10% 2/15/2026 N/A N/A Revolving credit facility 49,381 50,054 $ 450,000 3.05% 8/14/2015 0.25% 2.00% Revolving credit facility N/A 500,000 $ 500,000 1.60% 6/26/2015 0.25% N/A Revolving credit facility 567,146 — $ 750,000 1.50% 3/18/2018 0.60% 1.50% Revolving credit facility — 800 $ 55,000 2.00% 12/15/2015 0.35% 2.00% Revolving credit facility 51,515 — $ 110,000 2.00% 11/4/2016 0.30% 2.00% Revolving credit facility 16,750 — $ 50,000 1.50% 1/30/2017 0.25% 1.50% Euro-denominated revolving credit facility 595,408 650,725 € 550,000 1.65% 2/25/2016 0.25% 1.65% Euro-denominated revolving credit facility 319,824 — € 300,000 2.35% 2/27/2017 0.50% 2.35% Euro-denominated revolving credit facility 96,364 97,925 € 100,000 1.95% 2/2/2016 0.40% 1.95% Revolving credit facility 50,000 146,000 $ 221,000 1.65% 9/30/2015 0.25% N/A Revolving credit facility 339,486 201,739 $ 400,000 1.60% 1/16/2017 0.25% 1.60% Revolving credit facility 52,536 56,697 $ 61,000 2.95% 3/15/2019 N/A N/A Revolving credit facility 80,325 88,000 $ 95,315 2.75% 12/16/2018 1.00% N/A Revolving credit facility — 2,000 $ 35,000 1.50% 12/11/2015 0.20% N/A Revolving credit facility 207,635 93,943 $ 250,000 1.60% 9/8/2016 0.25% 2.00% Revolving credit facility 33,983 — $ 40,000 2.25% 3/4/2016 0.30% 1.75% Credit facility (5) 185,345 214,423 $ 185,345 1.99% Various N/A N/A $ 5,668,217 $ 4,704,852 (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 June 30, 2015 and December 31, 2014, outstanding standby letters of credit totaled $392,941 and $43,326 , respectively. (3) The senior variable rate notes and credit facilities are collateralized by the portfolio investments and cash and cash-equivalents of the respective fund. (4) The LIBOR margin is 1.25% through October 11, 2015, and 2.50% thereafter. (5) The credit facility is collateralized by specific investments of the fund. Of the total balance outstanding, $28.1 million matures in February 2016 and $157.3 million in March 2016.
Schedule of Collateralized Loan Obligation	The table below sets forth the outstanding debt obligations of the CLOs for the periods indicated. As of June 30, 2015 As of December 31, 2014 Outstanding Borrowings Fair Value (1) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Outstanding Borrowings Fair Value (1) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Senior secured notes (2) $ 456,916 $ 457,278 2.29% 9.8 $ 456,567 $ 449,167 2.25% 10.3 Senior secured notes (3) 454,124 455,192 2.48% 11.5 453,821 454,274 2.43% 12.0 Senior secured notes (4) 98,594 97,617 2.62% 3.5 85,776 85,468 2.61% 4.0 Senior secured notes (5) 372,994 371,425 2.26% 12.2 405,018 402,649 2.32% 12.7 Senior secured notes (6) 370,170 372,624 2.46% 12.8 — — — — Subordinated note (7) 25,500 22,588 N/A 11.5 25,500 25,500 N/A 12.0 Subordinated note (7) 21,727 20,321 N/A 12.2 23,596 23,596 N/A 12.7 Subordinated note (7) 18,384 17,465 N/A 12.8 — — — — Term loan (8) 100,000 100,000 1.59% 0.4 — — — — Term loan — — — — 151,257 151,257 1.24% 1.8 $ 1,918,409 $ 1,914,510 $ 1,601,535 $ 1,591,911 (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. For recently issued debt obligations, the carrying value approximates fair value. (2) The weighted average interest rate is based on LIBOR plus 2.01% . (3) The weighted average interest rate is based on LIBOR plus 2.21% . (4) 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% . (5) The weighted average interest rate is based on EURIBOR plus 2.26% . (6) The weighted average interest rate is based on EURIBOR plus 2.27% . (7) The subordinated notes do not have a contractual interest rate; instead, they receive distributions from the excess cash flows generated by the CLO. (8) As of June 30, 2015, the term loan had a total facility capacity of $116.7 million . On July 7, 2015, the facility increased to $325.0 million . The interest rate is based on LIBOR plus 1.40% . The unused commitment fee was 0.10% .

NON-CONTROLLING REDEEMABLE IN29

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS (Tables)	6 Months Ended
	Jun. 30, 2015
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. Six Months Ended June 30, 2015 2014 Beginning balance $ 41,681,155 $ 38,834,831 Contributions 3,309,316 4,418,500 Distributions (3,711,727 ) (3,363,672 ) Net income 742,608 2,508,145 Change in distributions payable 544,060 2,673 Change in accrued or deferred contributions 12,267 — Foreign currency translation and other (364,239 ) (23,819 ) Ending balance $ 42,213,440 $ 42,376,658

UNITHOLDERS' CAPITAL (Tables)

UNITHOLDERS' CAPITAL (Tables)	6 Months Ended
	Jun. 30, 2015
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 June 30, Six Months Ended June 30, 2015 2014 2015 2014 Weighted average Oaktree Operating Group units outstanding (in thousands): OCGH non-controlling interest 105,467 109,221 106,813 110,887 Class A unitholders 48,372 43,480 46,727 41,600 Total weighted average units outstanding 153,839 152,701 153,540 152,487 Oaktree Operating Group net income: Net income attributable to OCGH non-controlling interest $ 54,240 $ 91,813 $ 163,006 $ 255,371 Net income attributable to Class A unitholders 24,878 36,550 70,188 94,232 Oaktree Operating Group net income (1) $ 79,118 $ 128,363 $ 233,194 $ 349,603 Net income attributable to Oaktree Capital Group, LLC: Oaktree Operating Group net income attributable to Class A unitholders $ 24,878 $ 36,550 $ 70,188 $ 94,232 Non-Operating Group expenses (626 ) (603 ) (960 ) (885 ) Income tax expense of Intermediate Holding Companies (4,438 ) (4,761 ) (11,161 ) (10,367 ) Net income attributable to Oaktree Capital Group, LLC $ 19,814 $ 31,186 $ 58,067 $ 82,980 (1) Oaktree Operating Group net income attributable to other non-controlling interests for the three and six months ended June 30, 2015, respectively, were $1,269 and $604 , and are not reflected in the table above.
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 Six Months Ended 2015 2014 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 19,814 $ 31,186 $ 58,067 $ 82,980 Equity reallocation between controlling and non-controlling interests (559 ) 18 45,202 49,116 Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests $ 19,255 $ 31,204 $ 103,269 $ 132,096

EARNINGS PER UNIT (Tables)

EARNINGS PER UNIT (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Computations of Net Income (Loss) Per Unit	The computation of net income per Class A unit is set forth below: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Net income per Class A unit (basic and diluted): (in thousands, except per unit amounts) Net income attributable to Oaktree Capital Group, LLC $ 19,814 $ 31,186 $ 58,067 $ 82,980 Weighted average number of Class A units outstanding (basic and diluted) 48,372 43,480 46,727 41,600 Basic and diluted net income per Class A unit $ 0.41 $ 0.72 $ 1.24 $ 1.99

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2015
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 June 30, 2015 and a summary of changes for the six 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, 2014 19,049 $ 50.63 5,070,992 $ 36.21 Granted 7,940 55.75 1,157,492 44.07 Vested (5,403 ) 49.88 (1,339,249 ) 32.15 Forfeited — — (84,173 ) 35.09 Balance, June 30, 2015 21,586 $ 52.70 4,805,062 $ 39.26
Schedule of Unvested Units Expected to Vest	As of June 30, 2015, unvested units were expected to vest as follows: Number of Units Weighted Average Remaining Service Term (Years) Class A units 21,586 2.9 OCGH units 4,805,062 4.8

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Amounts Due from and Due to Affiliates	The fair value of amounts due to affiliates approximated $167,659 and $159,264 as of June 30, 2015 and December 31, 2014, respectively, based on a discount rate of 10.0% . As of June 30, 2015 December 31, 2014 Due from affiliates: Loans $ 34,328 $ 39,452 Amounts due from non-consolidated funds 1,852 2,525 Payments made on behalf of non-consolidated entities 3,824 3,221 Non-interest bearing advances made to certain non-controlling interest holders and employees 1,738 1,683 Total due from affiliates $ 41,742 $ 46,881 Due to affiliates: Due to OCGH unitholders in connection with the tax receivable agreement (please see note 12) $ 370,949 $ 308,475 Amounts due to senior executives, certain non-controlling interest holders and employees 327 739 Total due to affiliates $ 371,276 $ 309,214

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Adjusted Net Income	ANI was as follows: Three Months Ended June 30, Six Months Ended June 30, 2015 2014 2015 2014 Revenues: Management fees $ 185,558 $ 189,119 $ 373,608 $ 377,519 Incentive income 61,148 59,198 214,027 352,074 Investment income 23,365 54,199 76,823 100,679 Total revenues 270,071 302,516 664,458 830,272 Expenses: Compensation and benefits (103,761 ) (92,638 ) (209,615 ) (190,832 ) Equity-based compensation (11,901 ) (5,111 ) (18,924 ) (9,094 ) Incentive income compensation (29,554 ) (30,147 ) (119,656 ) (167,975 ) General and administrative (25,972 ) (31,131 ) (50,322 ) (61,693 ) Depreciation and amortization (2,105 ) (1,815 ) (3,996 ) (3,736 ) Total expenses (173,293 ) (160,842 ) (402,513 ) (433,330 ) Adjusted net income before interest and other income (expense) 96,778 141,674 261,945 396,942 Interest expense, net of interest income (1) (8,782 ) (6,934 ) (17,715 ) (13,559 ) Other income (expense), net (2,650 ) 9 (3,546 ) (1,689 ) Adjusted net income $ 85,346 $ 134,749 $ 240,684 $ 381,694 (1) Interest income was $1.2 million and $0.7 million for the three months ended June 30, 2015 and 2014, respectively, and $2.2 million and $1.8 million for the six months ended June 30, 2015 and 2014, 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 Six Months Ended 2015 2014 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 19,814 $ 31,186 $ 58,067 $ 82,980 Incentive income (1) (5,805 ) (6,102 ) 11,573 58,358 Incentive income compensation (1) 5,657 6,112 (17,553 ) (40,222 ) Equity-based compensation (2) 4,182 5,376 8,865 10,575 Acquisition-related items (3) 1,695 — 3,502 — Income taxes (4) 5,485 5,761 13,360 13,747 Non-Operating Group expenses (5) 626 603 960 885 Non-controlling interests (5) 53,692 91,813 161,910 255,371 Adjusted net income $ 85,346 $ 134,749 $ 240,684 $ 381,694 (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. (2) This adjustment adds back the effect of (a) 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, and (b) differences arising from EVUs that are classified as liability awards under GAAP, but classified as equity awards for segment reporting purposes. (3) This adjustment adds back the effect of acquisition-related items associated with the amortization of intangibles and changes in the contingent consideration liability. (4) Because adjusted net income is a pre-tax measure, this adjustment adds back the effect of income tax expense. (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 non-controlling interests.
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 June 30, 2015 Segment Adjustments Consolidated Management fees (1) $ 185,558 $ (134,635 ) $ 50,923 Incentive income (1) 61,148 (60,584 ) 564 Investment income (1) 23,365 (7,671 ) 15,694 Total expenses (2) (173,293 ) (72,636 ) (245,929 ) Interest expense, net (3) (8,782 ) (43,960 ) (52,742 ) Other income (expense), net (4) (2,650 ) 5,513 2,863 Other income of consolidated funds (5) — (82,526 ) (82,526 ) Income taxes — (5,485 ) (5,485 ) Net income attributable to non-controlling interests in consolidated funds — 391,961 391,961 Net income attributable to non-controlling interests in consolidated subsidiaries — (55,509 ) (55,509 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 85,346 $ (65,532 ) $ 19,814 Corporate investments (6) $ 1,560,235 $ (1,383,557 ) $ 176,678 Total assets (7) $ 3,249,492 $ 51,962,327 $ 55,211,819 (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 $4,010 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $54,920 , (c) expenses incurred by the Intermediate Holding Companies of $652 , (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 $5,657 , (e) acquisition-related items of $1,695 , (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 $5,513 , (g) differences arising from EVUs that are classified as liability awards under GAAP, but classified as equity awards for segment reporting purposes of $173 and (h) other expenses of $16 . (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 $1.6 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 June 30, 2014 Segment Adjustments Consolidated Management fees (1) $ 189,119 $ (137,559 ) $ 51,560 Incentive income (1) 59,198 (59,198 ) — Investment income (1) 54,199 (49,809 ) 4,390 Total expenses (2) (160,842 ) (54,543 ) (215,385 ) Interest expense, net (3) (6,934 ) (18,765 ) (25,699 ) Other income (expense), net 9 — 9 Other income of consolidated funds (4) — 1,498,129 1,498,129 Income taxes — (5,761 ) (5,761 ) Net income attributable to non-controlling interests in consolidated funds — (1,184,244 ) (1,184,244 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (91,813 ) (91,813 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 134,749 $ (103,563 ) $ 31,186 Corporate investments (5) $ 1,468,517 $ (1,300,354 ) $ 168,163 Total assets (6) $ 2,909,825 $ 48,340,012 $ 51,249,837 (1) The adjustment represents the elimination of amounts attributable to the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation charges of $5,376 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $42,452 , (c) expenses incurred by the Intermediate Holding Companies of $603 and (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 $6,112 . (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 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 . (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 Six Months Ended June 30, 2015 Segment Adjustments Consolidated Management fees (1) $ 373,608 $ (271,866 ) $ 101,742 Incentive income (1) 214,027 (213,463 ) 564 Investment income (1) 76,823 (48,447 ) 28,376 Total expenses (2) (402,513 ) (79,390 ) (481,903 ) Interest expense, net (3) (17,715 ) (81,596 ) (99,311 ) Other income (expense), net (4) (3,546 ) 11,103 7,557 Other income of consolidated funds (5) — 1,422,716 1,422,716 Income taxes — (13,360 ) (13,360 ) Net income attributable to non-controlling interests in consolidated funds — (744,704 ) (744,704 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (163,610 ) (163,610 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 240,684 $ (182,617 ) $ 58,067 Corporate investments (6) $ 1,560,235 $ (1,383,557 ) $ 176,678 Total assets (7) $ 3,249,492 $ 51,962,327 $ 55,211,819 (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 $8,605 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $72,430 , (c) expenses incurred by the Intermediate Holding Companies of $987 , (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 $17,553 , (e) acquisition-related items of $3,502 , (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 $11,103 , (g) differences arising from EVUs that are classified as liability awards under GAAP, but classified as equity awards for segment reporting purposes of $261 and (h) other expenses of $55 . (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 $1.6 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 Six Months Ended June 30, 2014 Segment Adjustments Consolidated Management fees (1) $ 377,519 $ (285,528 ) $ 91,991 Incentive income (1) 352,074 (352,074 ) — Investment income (1) 100,679 (91,298 ) 9,381 Total expenses (2) (433,330 ) (40,374 ) (473,704 ) Interest expense, net (3) (13,559 ) (36,140 ) (49,699 ) Other income (expense), net (1,689 ) — (1,689 ) Other income of consolidated funds (4) — 3,284,894 3,284,894 Income taxes — (13,747 ) (13,747 ) Net income attributable to non-controlling interests in consolidated funds — (2,509,076 ) (2,509,076 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (255,371 ) (255,371 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 381,694 $ (298,714 ) $ 82,980 Corporate investments (5) $ 1,468,517 $ (1,300,354 ) $ 168,163 Total assets (6) $ 2,909,825 $ 48,340,012 $ 51,249,837 (1) The adjustment represents the elimination of amounts attributable to the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation charges of $10,575 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $69,136 , (c) expenses incurred by the Intermediate Holding Companies of $885 and (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 $40,222 . (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 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 . (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 PRE35

ORGANIZATION AND BASIS OF PRESENTATION (Details) - Jun. 30, 2015	partnership_interestvote
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Limited Liability Company (LLC) ownership interest (as a percent)	100.00%
Number of partnership interests | partnership_interest	1
Number of votes per Class B Unit	10
Number of votes Per Class A Unit	1

SUMMARY OF SIGNIFICANT ACCOUN36

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)quoteentity	Dec. 31, 2014entity
Variable Interest Entity [Line Items]
Number of broker quotes	1
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Number of variable interest entities that are consolidated | entity	8	6
Assets | $	$ 2,400
Liabilities | $	2,100
Maximum risk of loss | $	$ 209.8
Variable Interest Entity, Primary Beneficiary | Remaining Variable Interest Entities
Variable Interest Entity [Line Items]
Number of variable interest entities that are consolidated | entity	7
Variable Interest Entity, Primary Beneficiary | CLO not Priced
Variable Interest Entity [Line Items]
Number of variable interest entities that are consolidated | entity	3
Minimum
Variable Interest Entity [Line Items]
Withdrawal period	1 month
Number of broker quotes	1
Maximum
Variable Interest Entity [Line Items]
Withdrawal period	3 years
Number of broker quotes	2
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) - Aug. 31, 2014 - Highstar Capital - USD ($)	Total
Business Acquisition [Line Items]
Cash	$ 31,400,000
OCGH Units (in shares)	100,595
Contingent consideration	$ 60,000,000
Goodwill	50,800,000
Intangible assets	28,000,000
Acquisition of non-controlling interests related to the Highstar acquisition	72,200,000
Maximum
Business Acquisition [Line Items]
Contingent consideration	$ 60,000,000

INVESTMENTS, AT FAIR VALUE - In

INVESTMENTS, AT FAIR VALUE - Investments, at Fair Value (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Feb. 28, 2014
Schedule Of Investments In Marketable Securities [Line Items]
Total investments, at fair value	$ 48,645,874	$ 46,533,799	$ 312,900
Total investments, at fair value, Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	100.00%	100.00%
Total securities sold short, at fair value	$ (121,660)	$ (64,438)
Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 18,808,051	$ 17,985,596
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	38.70%	38.70%
Total securities sold short, at fair value	$ (2,168)	$ 0
Equity securities:
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 29,837,823	$ 28,548,203
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	61.30%	61.30%
Total securities sold short, at fair value	$ (119,492)	$ (64,438)
United States: | Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 13,818,339	$ 12,884,991
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	28.50%	27.70%
United States: | Debt securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 3,442,732	$ 3,173,576
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	7.10%	6.80%
United States: | Debt securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 752,278	$ 692,890
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.50%	1.50%
United States: | Debt securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,250,106	$ 1,028,317
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.60%	2.20%
United States: | Debt securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,198,578	$ 805,337
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.50%	1.70%
United States: | Debt securities: | Government
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 127,194	$ 140,053
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	0.30%
United States: | Debt securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,213,421	$ 1,010,462
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.50%	2.20%
United States: | Debt securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,830,943	$ 1,795,909
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.80%	3.90%
United States: | Debt securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,277,136	$ 1,167,635
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.60%	2.50%
United States: | Debt securities: | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,466,542	$ 1,288,947
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.00%	2.80%
United States: | Debt securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 449,576	$ 372,457
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.90%	0.80%
United States: | Debt securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 809,833	$ 1,409,408
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.70%	3.00%
United States: | Equity securities:
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 16,910,439	$ 17,412,479
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	34.70%	37.40%
United States: | Equity securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 2,187,390	$ 2,475,318
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	4.50%	5.30%
United States: | Equity securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 846,003	$ 530,305
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.70%	1.10%
United States: | Equity securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 1,373,804	$ 1,756,480
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.80%	3.80%
United States: | Equity securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 7,811,587	$ 7,720,904
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	16.10%	16.60%
United States: | Equity securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 223,218	$ 224,705
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.50%	0.50%
United States: | Equity securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 2,418,737	$ 2,970,356
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	5.00%	6.40%
United States: | Equity securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 71,428	$ 176,097
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	0.40%
United States: | Equity securities: | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 1,060,419	$ 1,207,523
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.20%	2.60%
United States: | Equity securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 23,182	$ 21,616
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	0.00%
United States: | Equity securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 894,671	$ 329,175
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.80%	0.70%
Europe: | Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 3,900,501	$ 3,910,706
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	8.00%	8.40%
Europe: | Debt securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,363,663	$ 1,371,689
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.80%	3.00%
Europe: | Debt securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 243,992	$ 242,513
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.50%	0.50%
Europe: | Debt securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 316,277	$ 370,456
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.70%	0.80%
Europe: | Debt securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 777,729	$ 803,468
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.60%	1.70%
Europe: | Debt securities: | Government
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 19,833	$ 0
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	0.00%
Europe: | Debt securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 191,938	$ 147,661
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.40%	0.30%
Europe: | Debt securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 315,754	$ 344,642
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.60%	0.70%
Europe: | Debt securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 41,650	$ 41,960
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:	$ 401,775	$ 421,327
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.80%	0.90%
Europe: | Debt securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 220,463	$ 142,322
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.50%	0.30%
Europe: | Debt securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 7,427	$ 24,668
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	0.10%
Europe: | Equity securities:
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 8,923,437	$ 6,904,373
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	18.20%	14.80%
Europe: | Equity securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 240,288	$ 311,847
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.50%	0.70%
Europe: | Equity securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 141,174	$ 59,628
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	0.10%
Europe: | Equity securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 29,607	$ 92,416
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	0.20%
Europe: | Equity securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 6,292,496	$ 4,760,386
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	12.90%	10.20%
Europe: | Equity securities: | Government
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 0	$ 635
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	0.00%
Europe: | Equity securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 74,510	$ 52,887
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.20%	0.10%
Europe: | Equity securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 1,433,125	$ 1,226,825
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.90%	2.60%
Europe: | Equity securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 14,363	$ 1,190
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:	$ 481,237	$ 398,559
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.00%	0.90%
Europe: | Equity securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 22,330	$ 0
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	0.00%
Europe: | Equity securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 194,307	$ 0
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	0.00%
Asia and other: | Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,089,211	$ 1,189,899
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.20%	2.60%
Asia and other: | Debt securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 117,142	$ 140,732
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.20%	0.30%
Asia and other: | Debt securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 3,228	$ 7,927
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: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 250,048	$ 217,299
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.50%	0.50%
Asia and other: | Debt securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 21,890	$ 18,935
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: | Government
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 13,335	$ 50,073
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	0.10%
Asia and other: | Debt securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 81,010	$ 48,977
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.20%	0.10%
Asia and other: | Debt securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 295,322	$ 420,323
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.60%	0.90%
Asia and other: | Debt securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 27,545	$ 23,555
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:	$ 269,744	$ 252,965
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.60%	0.60%
Asia and other: | Debt securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 705	$ 0
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:	$ 9,242	$ 9,113
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:	$ 4,003,947	$ 4,231,351
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	8.40%	9.10%
Asia and other: | Equity securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 863,285	$ 664,077
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.80%	1.40%
Asia and other: | Equity securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 75,427	$ 113,471
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.20%	0.20%
Asia and other: | Equity securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 373,302	$ 298,040
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.80%	0.60%
Asia and other: | Equity securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 853,575	$ 1,518,532
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.80%	3.30%
Asia and other: | Equity securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 23,476	$ 22,899
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.00%	0.10%
Asia and other: | Equity securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 1,087,708	$ 937,455
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.20%	2.00%
Asia and other: | Equity securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 323,882	$ 322,592
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.70%	0.70%
Asia and other: | Equity securities: | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 135,170	$ 145,657
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	0.30%
Asia and other: | Equity securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 85,521	$ 39,244
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.20%	0.10%
Asia and other: | Equity securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 182,601	$ 169,384
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.40%	0.40%

INVESTMENTS, AT FAIR VALUE - 39

INVESTMENTS, AT FAIR VALUE - Investments, at Fair Value, Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Proceeds	$ 2,108	$ 0
Equity securities:
Schedule Of Investments In Marketable Securities [Line Items]
Proceeds	128,060	70,760
United States:
Schedule Of Investments In Marketable Securities [Line Items]
Debt Securities, Cost	14,883,759	13,611,109
Total equity securities	13,848,518	13,911,333
Europe:
Schedule Of Investments In Marketable Securities [Line Items]
Debt Securities, Cost	4,123,075	3,803,751
Total equity securities	7,215,300	5,884,950
Asia and other:
Schedule Of Investments In Marketable Securities [Line Items]
Debt Securities, Cost	1,055,818	1,168,453
Total equity securities	$ 3,714,749	$ 3,393,453

INVESTMENTS, AT FAIR VALUE - Ad

INVESTMENTS, AT FAIR VALUE - Additional Information (Detail) - issuer	Jun. 30, 2015	Dec. 31, 2014
Investments [Abstract]
Number of issuers	0	0
Percentage exceeded consolidated net assets (as a percent)	5.00%

INVESTMENTS, AT FAIR VALUE - Ne

INVESTMENTS, AT FAIR VALUE - Net Gains (Losses) from Investment Activities of Consolidated Funds (Detail) - Consolidated Funds - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	$ 857,548	$ 514,178	$ 1,332,378	$ 1,168,329
Net Change in Unrealized Appreciation (Depreciation) on Investments	(1,418,385)	699,890	(910,902)	1,470,368
Investments and other financial instruments
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	707,427	521,367	875,226	1,239,490
Net Change in Unrealized Appreciation (Depreciation) on Investments	(1,018,970)	724,377	(461,655)	1,499,699
Foreign currency forward contracts
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	175,334	(37,212)	471,310	(94,188)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(339,448)	(4,095)	(319,064)	(4,263)
Total-return, credit-default and interest-rate swaps
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	(2,248)	44,017	(7,174)	43,915
Net Change in Unrealized Appreciation (Depreciation) on Investments	(56,008)	(20,983)	(116,226)	(13,564)
Options and futures
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	(21,778)	(13,994)	(3,977)	(20,888)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(5,150)	3,865	(16,299)	(6,192)
Swaptions
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	(1,187)	0	(3,007)	0
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ 1,191	$ (3,274)	$ 2,342	$ (5,312)

FAIR VALUE - Financial Instrume

FAIR VALUE - Financial Instruments by Fair-value Hierarchy Level (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury and government-agency securities	$ 681,197	$ 655,529
Corporate investments (includes $18,115 and $40,814 measured at fair value as of June 30, 2015 and December 31,2014, respectively)	176,678	187,963	$ 168,163
Derivative asset	124,442	320,696
Derivative liabilities	(484,633)	(259,265)
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	720,797	720,842
Total liabilities	(32,619)	(33,001)
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	681,197	655,529
Fair Value, Measurements, Recurring | Corporate Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate investments (includes $18,115 and $40,814 measured at fair value as of June 30, 2015 and December 31,2014, respectively)	18,115	40,814
Fair Value, Measurements, Recurring | Forward currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	21,485	24,499
Derivative liabilities	(1,839)	(3,439)
Fair Value, Measurements, Recurring | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	(28,746)	(27,245)
Fair Value, Measurements, Recurring | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(2,034)	(2,317)
Fair Value, Measurements, Recurring | Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	681,197	679,189
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	681,197	655,529
Fair Value, Measurements, Recurring | Level I | Corporate Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate investments (includes $18,115 and $40,814 measured at fair value as of June 30, 2015 and December 31,2014, respectively)	0	23,660
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	0
Derivative liabilities	0	0
Fair Value, Measurements, Recurring | Level I | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
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	0
Fair Value, Measurements, Recurring | Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	39,600	41,653
Total liabilities	(3,873)	(5,756)
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	0
Fair Value, Measurements, Recurring | Level II | Corporate Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate investments (includes $18,115 and $40,814 measured at fair value as of June 30, 2015 and December 31,2014, respectively)	18,115	17,154
Fair Value, Measurements, Recurring | Level II | Forward currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	21,485	24,499
Derivative liabilities	(1,839)	(3,439)
Fair Value, Measurements, Recurring | Level II | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Fair Value, Measurements, Recurring | Level II | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(2,034)	(2,317)
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	(28,746)	(27,245)
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	0
Fair Value, Measurements, Recurring | Level III | Corporate Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate investments (includes $18,115 and $40,814 measured at fair value as of June 30, 2015 and December 31,2014, respectively)	0	0
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	0
Derivative liabilities	0	0
Fair Value, Measurements, Recurring | Level III | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	(28,746)	(27,245)
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	$ 0

FAIR VALUE - Valuation of Inves

FAIR VALUE - Valuation of Investments and Other Financial Instruments (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Feb. 28, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	$ 48,645,874	$ 46,533,799	$ 312,900
Total derivatives	124,442	320,696
Equity securities	(121,660)	(64,438)
Total derivatives	(484,633)	(259,265)
Consolidated Funds
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	48,645,874	46,533,799
Total derivatives	102,957	296,197
Equity securities	(121,660)	(64,438)
Total derivatives	(480,760)	(253,509)
Consolidated Funds | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	24,997	36,568
Total derivatives	(5,812)	(14,969)
Consolidated Funds | Swaptions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	114	483
Total derivatives		(518)
Consolidated Funds | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	28,025,524	26,291,698
Fair Value, Measurements, Recurring
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total assets	720,797	720,842
Total liabilities	(32,619)	(33,001)
Fair Value, Measurements, Recurring | Forward currency contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	21,485	24,499
Total derivatives	(1,839)	(3,439)
Fair Value, Measurements, Recurring | Level I
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total assets	681,197	679,189
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	0
Total derivatives	0	0
Fair Value, Measurements, Recurring | Level II
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total assets	39,600	41,653
Total liabilities	(3,873)	(5,756)
Fair Value, Measurements, Recurring | Level II | Forward currency contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	21,485	24,499
Total derivatives	(1,839)	(3,439)
Fair Value, Measurements, Recurring | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total assets	0	0
Total liabilities	(28,746)	(27,245)
Fair Value, Measurements, Recurring | 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
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	48,645,874	46,533,799
Total derivatives	102,957	296,197
Total assets	48,748,831	46,829,996
Equity securities	(121,660)	(64,438)
Total derivatives	(480,760)	(253,509)
Total liabilities	(602,420)	(317,947)
Fair Value, Measurements, Recurring | Consolidated Funds | Forward currency contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	70,550	254,929
Total derivatives	(174,400)	(54,663)
Fair Value, Measurements, Recurring | Consolidated Funds | Swaps
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	7,296	4,217
Total derivatives	(300,548)	(183,359)
Fair Value, Measurements, Recurring | Consolidated Funds | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	24,997	36,568
Total derivatives	(5,812)	(14,969)
Fair Value, Measurements, Recurring | Consolidated Funds | Swaptions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	114	483
Total derivatives	0	(518)
Fair Value, Measurements, Recurring | Consolidated Funds | Corporate debt – bank debt
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	9,980,931	9,691,378
Fair Value, Measurements, Recurring | Consolidated Funds | Corporate debt – all other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	8,827,120	8,294,218
Fair Value, Measurements, Recurring | Consolidated Funds | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	15,819,431	15,592,621
Fair Value, Measurements, Recurring | Consolidated Funds | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	1,661,622	1,323,900
Fair Value, Measurements, Recurring | Consolidated Funds | Real estate
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	9,572,902	9,216,056
Fair Value, Measurements, Recurring | Consolidated Funds | Real estate loan portfolios
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	2,779,472	2,399,105
Fair Value, Measurements, Recurring | Consolidated Funds | Other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	4,396	16,521
Fair Value, Measurements, Recurring | Consolidated Funds | Level I
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	5,812,874	6,050,715
Total derivatives	2,697	0
Total assets	5,815,571	6,050,715
Equity securities	(117,666)	(64,438)
Total derivatives	(178)	(11,051)
Total liabilities	(117,844)	(75,489)
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	2,697	0
Total derivatives	(178)	(11,051)
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 – 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 – all other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	5,654	4,039
Fair Value, Measurements, Recurring | Consolidated Funds | Level I | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	5,805,336	6,042,583
Fair Value, Measurements, Recurring | Consolidated Funds | Level I | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	1,884	3,148
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	0	945
Fair Value, Measurements, Recurring | Consolidated Funds | Level II
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	14,798,832	14,180,699
Total derivatives	100,260	296,197
Total assets	14,899,092	14,476,896
Equity securities	(3,994)	0
Total derivatives	(471,938)	(231,771)
Total liabilities	(475,932)	(231,771)
Fair Value, Measurements, Recurring | Consolidated Funds | Level II | Forward currency contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	70,550	254,929
Total derivatives	(174,400)	(54,663)
Fair Value, Measurements, Recurring | Consolidated Funds | Level II | Swaps
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	7,296	4,217
Total derivatives	(291,904)	(172,672)
Fair Value, Measurements, Recurring | Consolidated Funds | Level II | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	22,300	36,568
Total derivatives	(5,634)	(3,918)
Fair Value, Measurements, Recurring | Consolidated Funds | Level II | Swaptions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	114	483
Total derivatives	0	(518)
Fair Value, Measurements, Recurring | Consolidated Funds | Level II | Corporate debt – bank debt
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	8,581,654	8,135,722
Fair Value, Measurements, Recurring | Consolidated Funds | Level II | Corporate debt – all other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	5,906,092	5,539,518
Fair Value, Measurements, Recurring | Consolidated Funds | Level II | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	311,086	505,459
Fair Value, Measurements, Recurring | Consolidated Funds | Level II | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	0
Fair Value, Measurements, Recurring | Consolidated Funds | Level II | Real estate
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	0
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	0
Fair Value, Measurements, Recurring | Consolidated Funds | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	28,034,168	26,302,385
Total derivatives	0	0
Total assets	28,034,168	26,302,385
Equity securities	0	0
Total derivatives	(8,644)	(10,687)
Total liabilities	(8,644)	(10,687)
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	0	0
Total derivatives	(8,644)	(10,687)
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 – bank debt
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	1,399,277	1,555,656
Fair Value, Measurements, Recurring | Consolidated Funds | Level III | Corporate debt – all other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	2,915,374	2,750,661
Fair Value, Measurements, Recurring | Consolidated Funds | Level III | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	9,703,009	9,044,579
Fair Value, Measurements, Recurring | Consolidated Funds | Level III | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	1,659,738	1,320,752
Fair Value, Measurements, Recurring | Consolidated Funds | Level III | Real estate
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	9,572,902	9,216,056
Fair Value, Measurements, Recurring | Consolidated Funds | Level III | Real estate loan portfolios
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	2,779,472	2,399,105
Fair Value, Measurements, Recurring | Consolidated Funds | Level III | Other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	4,396	15,576
Debt securities:
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	(2,168)	0
Debt securities: | Fair Value, Measurements, Recurring | Consolidated Funds
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	(2,168)	0
Debt securities: | Fair Value, Measurements, Recurring | Consolidated Funds | Level I
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	0	0
Debt securities: | Fair Value, Measurements, Recurring | Consolidated Funds | Level II
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	(2,168)	0
Debt securities: | Fair Value, Measurements, Recurring | Consolidated Funds | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	0	0
Equity securities:
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	(119,492)	(64,438)
Equity securities: | Fair Value, Measurements, Recurring | Consolidated Funds
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	(119,492)	(64,438)
Equity securities: | Fair Value, Measurements, Recurring | Consolidated Funds | Level I
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	(117,666)	(64,438)
Equity securities: | Fair Value, Measurements, Recurring | Consolidated Funds | Level II
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	(1,826)	0
Equity securities: | Fair Value, Measurements, Recurring | Consolidated Funds | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	$ 0	$ 0

FAIR VALUE - Summary of Changes

FAIR VALUE - Summary of Changes in Fair Value of Level III Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 28,015,703	$ 22,812,870	$ 26,291,698	$ 21,465,845
Transfers into Level III	88,981	380,588	527,139	1,528,626
Transfers out of Level III	(664,435)	(745,209)	(812,088)	(2,158,406)
Purchases	1,981,399	2,364,465	3,745,958	4,726,516
Sales	(1,725,985)	(1,115,294)	(2,290,026)	(2,829,669)
Realized gains (losses), net	547,364	129,346	541,851	427,403
Unrealized appreciation (depreciation), net	(217,503)	552,590	20,992	1,219,041
Ending balance	28,025,524	24,379,356	28,025,524	24,379,356
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(407,637)	659,324	300,819	1,551,093
Corporate debt – bank debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,573,508	2,584,354	1,555,656	2,809,437
Transfers into Level III	9,598	91,377	116,533	812,821
Transfers out of Level III	(42,396)	(576,732)	(145,998)	(1,548,747)
Purchases	42,721	149,281	224,751	404,224
Sales	(185,407)	(332,258)	(340,767)	(607,003)
Realized gains (losses), net	10,604	61,332	25,407	105,476
Unrealized appreciation (depreciation), net	(9,351)	(32,963)	(36,305)	(31,817)
Ending balance	1,399,277	1,944,391	1,399,277	1,944,391
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(12,235)	66,167	(17,619)	41,435
Corporate debt – all other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2,772,859	2,067,344	2,750,661	2,432,179
Transfers into Level III	17,208	162,396	17,208	162,546
Transfers out of Level III	(78,250)	(12,505)	(110,084)	(18,871)
Purchases	314,898	155,312	566,463	279,296
Sales	(84,407)	(72,245)	(163,351)	(609,238)
Realized gains (losses), net	(35,773)	3,536	(32,499)	119,038
Unrealized appreciation (depreciation), net	8,839	42,670	(113,024)	(18,442)
Ending balance	2,915,374	2,346,508	2,915,374	2,346,508
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(76,879)	30,659	(43,928)	79,614
Equities – common stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	10,156,394	7,613,726	9,056,579	6,700,015
Transfers into Level III	50,976	0	377,563	424,682
Transfers out of Level III	(523,407)	(153,277)	(523,423)	(493,348)
Purchases	341,691	721,381	1,194,127	1,521,509
Sales	(349,498)	(43,730)	(442,219)	(317,313)
Realized gains (losses), net	73,211	6,034	(66,126)	65,410
Unrealized appreciation (depreciation), net	(46,358)	190,487	106,508	433,666
Ending balance	9,703,009	8,334,621	9,703,009	8,334,621
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(12,504)	204,821	192,837	559,032
Equities – preferred stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,381,135	1,145,630	1,320,752	919,771
Transfers into Level III	11,199	0	15,835	0
Transfers out of Level III	(20,382)	(2,695)	(32,583)	(6,544)
Purchases	147,396	32,180	205,128	176,697
Sales	(2,760)	(26,898)	(54,947)	(68,278)
Realized gains (losses), net	(1,153)	(16,057)	37,384	(16,085)
Unrealized appreciation (depreciation), net	144,303	68,556	168,169	195,155
Ending balance	1,659,738	1,200,716	1,659,738	1,200,716
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	1,253	40,813	109,462	181,909
Real estate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	9,728,967	6,976,625	9,216,056	6,221,294
Transfers into Level III	0	126,815	0	128,577
Transfers out of Level III		0		(90,896)
Purchases	658,056	892,583	949,574	1,693,378
Sales	(890,418)	(275,465)	(985,355)	(577,800)
Realized gains (losses), net	432,658	43,922	479,057	96,125
Unrealized appreciation (depreciation), net	(356,361)	256,090	(86,430)	549,892
Ending balance	9,572,902	8,020,570	9,572,902	8,020,570
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(335,645)	300,342	92,476	598,517
Real estate loan portfolios
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2,406,252	2,413,412	2,399,105	2,369,441
Transfers into Level III	0	0	0	0
Transfers out of Level III		0		0
Purchases	476,637	413,728	605,915	650,412
Sales	(213,495)	(364,698)	(303,387)	(650,037)
Realized gains (losses), net	67,817	30,579	98,628	57,439
Unrealized appreciation (depreciation), net	42,261	23,806	(20,789)	89,572
Ending balance	2,779,472	2,516,827	2,779,472	2,516,827
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	27,778	17,597	(35,272)	89,572
Swaps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(6,988)	(2,902)	(10,687)	0
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	(1,656)	3,738	2,043	836
Ending balance	(8,644)	836	(8,644)	836
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(225)	(1,248)	2,043	836
Other:
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	3,576	14,681	3,576	13,708
Transfers into Level III	0	0	0	0
Transfers out of Level III		0		0
Purchases		0		1,000
Sales		0		0
Realized gains (losses), net		0		0
Unrealized appreciation (depreciation), net	820	206	820	179
Ending balance	4,396	14,887	4,396	14,887
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$ 820	$ 173	$ 820	$ 178

FAIR VALUE - Additional Informa

FAIR VALUE - Additional Information (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)investment
Fair Value Disclosures [Abstract]
Transfers between level II and I	$ 0	$ 104,400,000	$ 0	$ 739,700,000
Number of exchange-traded investments - decrease | investment				3

FAIR VALUE - Summary of Valuati

FAIR VALUE - Summary of Valuation Techniques and Quantitative Information (Detail) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)investment	Jun. 30, 2014investment	Dec. 31, 2014USD ($)	Feb. 28, 2014USD ($)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 48,645,874		$ 46,533,799	$ 312,900
Number of investments that changed valuation technique | investment	8	4
Credit-oriented investments:
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of investments that changed valuation technique | investment	3	1
Credit-oriented investments: | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of investments that changed valuation technique | investment	1
Credit-oriented investments: | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of investments that changed valuation technique | investment		1
Credit-oriented investments: | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of investments that changed valuation technique | investment	1
Equity securities:
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of investments that changed valuation technique | investment	1	1
Equity securities: | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of investments that changed valuation technique | investment		1
Real estate-oriented investments:
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of investments that changed valuation technique | investment	1
Consolidated Funds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 48,645,874		46,533,799
Consolidated Funds | Level III
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	28,025,524		26,291,698
Consolidated Funds | Level III | Credit-oriented investments: | Consumer discretionary | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 204,890		$ 164,401
Consolidated Funds | Level III | Credit-oriented investments: | Consumer discretionary | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	5.00%		5.00%
Consolidated Funds | Level III | Credit-oriented investments: | Consumer discretionary | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	12.00%		12.00%
Consolidated Funds | Level III | Credit-oriented investments: | Consumer discretionary | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	11.00%		11.00%
Consolidated Funds | Level III | Credit-oriented investments: | Consumer discretionary | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 483,130		$ 487,784
Consolidated Funds | Level III | Credit-oriented investments: | Consumer discretionary | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	3		3
Consolidated Funds | Level III | Credit-oriented investments: | Consumer discretionary | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	8		10
Consolidated Funds | Level III | Credit-oriented investments: | Consumer discretionary | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	6		5
Consolidated Funds | Level III | Credit-oriented investments: | Consumer discretionary | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 94,281		$ 133,410
Consolidated Funds | Level III | Credit-oriented investments: | Consumer discretionary | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	82,023		119,219
Consolidated Funds | Level III | Credit-oriented investments: | Financials | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 528,940		$ 280,827
Consolidated Funds | Level III | Credit-oriented investments: | Financials | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	7.00%		9.00%
Consolidated Funds | Level III | Credit-oriented investments: | Financials | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	14.00%		14.00%
Consolidated Funds | Level III | Credit-oriented investments: | Financials | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	11.00%		12.00%
Consolidated Funds | Level III | Credit-oriented investments: | Financials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 250,164		$ 228,804
Consolidated Funds | Level III | Credit-oriented investments: | Financials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	96,267		55,472
Consolidated Funds | Level III | Credit-oriented investments: | Financials | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 245,515		$ 205,639
Consolidated Funds | Level III | Credit-oriented investments: | Financials | Market approach (value of underlying assets) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	0.9		0.9
Consolidated Funds | Level III | Credit-oriented investments: | Financials | Market approach (value of underlying assets) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1.1		1.1
Consolidated Funds | Level III | Credit-oriented investments: | Financials | Market approach (value of underlying assets) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1		1
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 192,524		$ 240,935
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	5.00%		5.00%
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	15.00%		20.00%
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	12.00%		13.00%
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 4,345		$ 13,358
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	5		3
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	6		8
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	6		7
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 38,790		$ 121,888
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	17,804		113,500
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 83,263		$ 83,020
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Market approach (value of underlying assets) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1		0.9
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Market approach (value of underlying assets) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1.1		1.1
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Market approach (value of underlying assets) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1		1
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Discounted cash flow / Sales approach
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 198,564		$ 206,763
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Discounted cash flow / Sales approach | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)	10.00%		10.00%
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Discounted cash flow / Sales approach | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)	14.00%		14.00%
Consolidated Funds | Level III | Credit-oriented investments: | Industrials | Discounted cash flow / Sales approach | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)	12.00%		12.00%
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 353,524		$ 77,008
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	11.00%		11.00%
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	13.00%		13.00%
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	12.00%		12.00%
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 212,223		$ 250,803
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	7		6
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	10		8
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	7		7
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value			$ 64,490
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Discounted cash flow / Sales approach
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value			$ 189,081
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Discounted cash flow / Sales approach | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)			15.00%
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Discounted cash flow / Sales approach | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)			17.00%
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Discounted cash flow / Sales approach | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)			16.00%
Consolidated Funds | Level III | Credit-oriented investments: | Other | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 552,278		$ 449,065
Consolidated Funds | Level III | Credit-oriented investments: | Other | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	5.00%		5.00%
Consolidated Funds | Level III | Credit-oriented investments: | Other | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	14.00%		13.00%
Consolidated Funds | Level III | Credit-oriented investments: | Other | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	12.00%		11.00%
Consolidated Funds | Level III | Credit-oriented investments: | Other | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 165,819		$ 376,237
Consolidated Funds | Level III | Credit-oriented investments: | Other | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	7		7
Consolidated Funds | Level III | Credit-oriented investments: | Other | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	8		8
Consolidated Funds | Level III | Credit-oriented investments: | Other | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	8		8
Consolidated Funds | Level III | Credit-oriented investments: | Other | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 37,329		$ 123,842
Consolidated Funds | Level III | Credit-oriented investments: | Other | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	295,340		310,084
Consolidated Funds | Level III | Credit-oriented investments: | Other | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 168,994
Consolidated Funds | Level III | Credit-oriented investments: | Other | Market approach (value of underlying assets) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	0.9
Consolidated Funds | Level III | Credit-oriented investments: | Other | Market approach (value of underlying assets) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1.1
Consolidated Funds | Level III | Credit-oriented investments: | Other | Market approach (value of underlying assets) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1
Consolidated Funds | Level III | Equity securities: | Financials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 200,116		171,844
Consolidated Funds | Level III | Equity securities: | Financials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	153,886		140,804
Consolidated Funds | Level III | Equity securities: | Financials | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 977,495		$ 646,720
Consolidated Funds | Level III | Equity securities: | Financials | Market approach (value of underlying assets) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1		1
Consolidated Funds | Level III | Equity securities: | Financials | Market approach (value of underlying assets) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1.4		1.1
Consolidated Funds | Level III | Equity securities: | Financials | Market approach (value of underlying assets) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1.1		1
Consolidated Funds | Level III | Equity securities: | Financials | Discounted cash flow / Sales approach
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value			$ 116,328
Consolidated Funds | Level III | Equity securities: | Financials | Discounted cash flow / Sales approach | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)			6.00%
Consolidated Funds | Level III | Equity securities: | Financials | Discounted cash flow / Sales approach | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)			8.00%
Consolidated Funds | Level III | Equity securities: | Financials | Discounted cash flow / Sales approach | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)			7.00%
Consolidated Funds | Level III | Equity securities: | Industrials | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 2,027,904		$ 2,086,026
Consolidated Funds | Level III | Equity securities: | Industrials | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	5		3
Consolidated Funds | Level III | Equity securities: | Industrials | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	11		15
Consolidated Funds | Level III | Equity securities: | Industrials | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	8		9
Consolidated Funds | Level III | Equity securities: | Industrials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 344,118		$ 100,655
Consolidated Funds | Level III | Equity securities: | Industrials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	259,734		397,377
Consolidated Funds | Level III | Equity securities: | Industrials | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 2,082,863		$ 2,313,549
Consolidated Funds | Level III | Equity securities: | Industrials | Market approach (value of underlying assets) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	0.9		1
Consolidated Funds | Level III | Equity securities: | Industrials | Market approach (value of underlying assets) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1.1		1.2
Consolidated Funds | Level III | Equity securities: | Industrials | Market approach (value of underlying assets) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1		1
Consolidated Funds | Level III | Equity securities: | Materials | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 1,094,430		$ 1,154,908
Consolidated Funds | Level III | Equity securities: | Materials | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	4		4
Consolidated Funds | Level III | Equity securities: | Materials | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	10		11
Consolidated Funds | Level III | Equity securities: | Materials | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	8		8
Consolidated Funds | Level III | Equity securities: | Materials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 207,692		$ 70,123
Consolidated Funds | Level III | Equity securities: | Materials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value			1,477
Consolidated Funds | Level III | Equity securities: | Other | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 2,027,095		$ 1,371,935
Consolidated Funds | Level III | Equity securities: | Other | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	3		4
Consolidated Funds | Level III | Equity securities: | Other | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	11		12
Consolidated Funds | Level III | Equity securities: | Other | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	8		8
Consolidated Funds | Level III | Equity securities: | Other | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 314,016		$ 55,769
Consolidated Funds | Level III | Equity securities: | Other | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 163,050		151,933
Consolidated Funds | Level III | Equity securities: | Other | Recent market information | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Quoted prices / discount (as a percent)	0.00%
Consolidated Funds | Level III | Equity securities: | Other | Recent market information | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Quoted prices / discount (as a percent)	50.00%
Consolidated Funds | Level III | Equity securities: | Other | Recent market information | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Quoted prices / discount (as a percent)	0.00%
Consolidated Funds | Level III | Equity securities: | Other | Other
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 246,336
Consolidated Funds | Level III | Equity securities: | Other | Discounted cash flow / Sales approach
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 132,194
Consolidated Funds | Level III | Equity securities: | Other | Discounted cash flow / Sales approach | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)	8.00%
Consolidated Funds | Level III | Equity securities: | Other | Discounted cash flow / Sales approach | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)	10.00%
Consolidated Funds | Level III | Equity securities: | Other | Discounted cash flow / Sales approach | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate / Market transactions (as a percent)	9.00%
Consolidated Funds | Level III | Equity securities: | Energy | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 37,130		$ 47,524
Consolidated Funds | Level III | Equity securities: | Energy | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	10.00%		10.00%
Consolidated Funds | Level III | Equity securities: | Energy | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	12.00%		12.00%
Consolidated Funds | Level III | Equity securities: | Energy | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	11.00%		11.00%
Consolidated Funds | Level III | Equity securities: | Energy | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 800,801		$ 1,045,233
Consolidated Funds | Level III | Equity securities: | Energy | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	7		5
Consolidated Funds | Level III | Equity securities: | Energy | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	16		18
Consolidated Funds | Level III | Equity securities: | Energy | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	13		12
Consolidated Funds | Level III | Equity securities: | Energy | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 64,531		$ 60,409
Consolidated Funds | Level III | Equity securities: | Energy | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	43,265
Consolidated Funds | Level III | Equity securities: | Energy | Other
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	186,091		432,717
Consolidated Funds | Level III | Real estate-oriented investments: | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 3,875,135		$ 3,276,236
Consolidated Funds | Level III | Real estate-oriented investments: | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	6.00%		6.00%
Terminal capitalization rate (as a percent)	0.05		0.06
Direct capitalization rate (as a percent)	0.05		0.05
Net operating income growth rate (as a percent)	0.00%		0.00%
Absorption rate (as a percent)	21.00%		19.00%
Consolidated Funds | Level III | Real estate-oriented investments: | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	44.00%		44.00%
Terminal capitalization rate (as a percent)	0.10		0.10
Direct capitalization rate (as a percent)	0.10		0.09
Net operating income growth rate (as a percent)	47.00%		37.00%
Absorption rate (as a percent)	50.00%		44.00%
Consolidated Funds | Level III | Real estate-oriented investments: | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	13.00%		13.00%
Terminal capitalization rate (as a percent)	0.07		0.08
Direct capitalization rate (as a percent)	0.07		0.07
Net operating income growth rate (as a percent)	11.00%		10.00%
Absorption rate (as a percent)	39.00%		38.00%
Consolidated Funds | Level III | Real estate-oriented investments: | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 217,427		$ 262,218
Consolidated Funds | Level III | Real estate-oriented investments: | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	10		12
Consolidated Funds | Level III | Real estate-oriented investments: | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	12		18
Consolidated Funds | Level III | Real estate-oriented investments: | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	12		13
Consolidated Funds | Level III | Real estate-oriented investments: | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 643,885		$ 915,247
Consolidated Funds | Level III | Real estate-oriented investments: | Sales approach
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	1,286,398		1,075,459
Consolidated Funds | Level III | Real estate-oriented investments: | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 2,389,976		$ 2,625,026
Consolidated Funds | Level III | Real estate-oriented investments: | Recent market information | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Quoted prices / discount (as a percent)	0.00%		0.00%
Consolidated Funds | Level III | Real estate-oriented investments: | Recent market information | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Quoted prices / discount (as a percent)	6.00%		6.00%
Consolidated Funds | Level III | Real estate-oriented investments: | Recent market information | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Quoted prices / discount (as a percent)	4.00%		4.00%
Consolidated Funds | Level III | Real estate-oriented investments: | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 947,359		$ 766,755
Consolidated Funds | Level III | Real estate-oriented investments: | Market approach (value of underlying assets) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1		1
Consolidated Funds | Level III | Real estate-oriented investments: | Market approach (value of underlying assets) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1.8		1.5
Consolidated Funds | Level III | Real estate-oriented investments: | Market approach (value of underlying assets) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple	1.6		1.4
Consolidated Funds | Level III | Real estate-oriented investments: | Other
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 95,198		$ 49,799
Consolidated Funds | Level III | Real estate-oriented investments: | Recent market information / Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 117,524		$ 245,316
Consolidated Funds | Level III | Real estate-oriented investments: | Recent market information / Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Quoted prices discount earnings multiple	700.00%		700.00%
Consolidated Funds | Level III | Real estate-oriented investments: | Recent market information / Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Quoted prices discount earnings multiple	900.00%		900.00%
Consolidated Funds | Level III | Real estate-oriented investments: | Recent market information / Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Quoted prices discount earnings multiple	800.00%		800.00%
Consolidated Funds | Level III | Real estate loan portfolios | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 2,003,132		$ 2,019,261
Consolidated Funds | Level III | Real estate loan portfolios | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	8.00%		8.00%
Consolidated Funds | Level III | Real estate loan portfolios | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	20.00%		16.00%
Consolidated Funds | Level III | Real estate loan portfolios | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	13.00%		13.00%
Consolidated Funds | Level III | Real estate loan portfolios | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 776,340		$ 379,844
Consolidated Funds | Level III | Other
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 4,396		$ 15,576

HEDGES AND OTHER DERIVATIVE I47

HEDGES AND OTHER DERIVATIVE INSTRUMENTS - Additional Information (Detail)	1 Months Ended		6 Months Ended
	Feb. 28, 2014USD ($)	Aug. 31, 2013USD ($)	Jun. 30, 2015USD ($)instrument	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)instrument	Mar. 31, 2014USD ($)
Derivatives And Hedging Activities [Line Items]
Total investments, at fair value	$ 312,900,000		$ 48,645,874,000		$ 46,533,799,000
Interest receivable	1,000,000
Cash payments	258,200,000		40,398,000	$ 22,498,000
Oaktree CLO 2014-1 Ltd.
Derivatives And Hedging Activities [Line Items]
Portion funded by the Company	60,200,000
Term Loan, Variable Rate
Derivatives And Hedging Activities [Line Items]
Face Amount			250,000,000
Senior Loans
Derivatives And Hedging Activities [Line Items]
Proceeds from debt obligations issued by CLOs	450,000,000
Proceeds from issuance of senior loans	456,000,000
Debt issuance cost	6,000,000
Senior Unsecured Credit Facility | Term Loan, Variable Rate
Derivatives And Hedging Activities [Line Items]
Face Amount			$ 250,000,000			$ 250,000,000
Interest Rate Swap | Cash Flow Hedging | Designated as Hedging Instrument
Derivatives And Hedging Activities [Line Items]
Number of interest-rate swaps (in agreements) | instrument			2		2
Notional value of interest-rate swaps			$ 165,000,000		$ 180,000,000
Contract amount			$ 333,800,000		$ 348,800,000
Fair Value Hedging | Not Designated as Hedging Instrument | Total-return swaps
Derivatives And Hedging Activities [Line Items]
Contract amount		$ 200,000,000
Average remaining maturity (in years)		2 years
Collateral, right to reclaim cash	50,000,000	$ 50,000,000
Realized gains	7,100,000
Cash received on closing position	1,400,000
Due from counter party	5,700,000
Fair Value Hedging | Not Designated as Hedging Instrument | Total-return swaps | Oaktree CLO 2014-1 Ltd.
Derivatives And Hedging Activities [Line Items]
Collateral, right to reclaim cash	$ 4,500,000

HEDGES AND OTHER DERIVATIVE I48

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 € in Thousands, ¥ in Thousands, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2015JPY (¥)	Jun. 30, 2015EUR (€)	Dec. 31, 2014JPY (¥)	Dec. 31, 2014EUR (€)
Derivative [Line Items]
Contract amount	$ 426,545	$ 425,434
Market Value in U.S. Dollars	406,899	404,374
Net Unrealized Appreciation (Depreciation)	19,646	21,060
Euro
Derivative [Line Items]
Contract amount	266,360	266,569		€ 225,220		€ 206,820
Market Value in U.S. Dollars	251,798	250,789
Net Unrealized Appreciation (Depreciation)	$ 14,562	$ 15,780
Euro | Minimum
Derivative [Line Items]
Expiration date	Jul. 8, 2015	Jan. 8, 2015
Euro | Maximum
Derivative [Line Items]
Expiration date	Oct. 7, 2016	Dec. 31, 2015
USD
Derivative [Line Items]
Contract amount	$ 84,866	$ 88,081
Market Value in U.S. Dollars	82,670	91,485
Net Unrealized Appreciation (Depreciation)	$ 2,196	$ (3,404)
USD | Minimum
Derivative [Line Items]
Expiration date	Jul. 31, 2015	Jan. 8, 2015
USD | Maximum
Derivative [Line Items]
Expiration date	Apr. 29, 2016	Dec. 31, 2015
Japanese Yen
Derivative [Line Items]
Contract amount	$ 75,319	$ 70,784	¥ 8,820,600		¥ 7,420,600
Market Value in U.S. Dollars	72,431	62,100
Net Unrealized Appreciation (Depreciation)	$ 2,888	$ 8,684
Japanese Yen | Minimum
Derivative [Line Items]
Expiration date	Sep. 30, 2015	Jan. 30, 2015
Japanese Yen | Maximum
Derivative [Line Items]
Expiration date	Jun. 30, 2016	Dec. 30, 2015

HEDGES AND OTHER DERIVATIVE I49

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 ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains and losses from freestanding derivative instruments	$ (1,114)	$ 2,142	$ 22,841	$ 1,094
Total-return swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gains and losses from freestanding derivative instruments	$ 0	$ 0	$ 0	$ 2,554

HEDGES AND OTHER DERIVATIVE I50

HEDGES AND OTHER DERIVATIVE INSTRUMENTS - Impact of Derivative Instruments Held by Consolidated Funds on Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Foreign Currency Contracts - Long
Derivatives, Fair Value [Line Items]
Average notional amount			$ 4,900,000
Foreign Currency Contracts - Short
Derivatives, Fair Value [Line Items]
Average notional amount			347,400
Total Return Swaps - Long
Derivatives, Fair Value [Line Items]
Average notional amount			3,000,000
Total Return Swap - Short
Derivatives, Fair Value [Line Items]
Average notional amount			18,400
Not Designated as Hedging Instrument | Consolidated Funds
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	$ 150,121	$ (7,189)	457,152	$ (71,161)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(399,415)	(24,487)	(449,247)	(29,331)
Not Designated as Hedging Instrument | Consolidated Funds | Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	175,334	(37,212)	471,310	(94,188)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(339,448)	(4,095)	(319,064)	(4,263)
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	(2,248)	44,017	(7,174)	43,915
Net Change in Unrealized Appreciation (Depreciation) on Investments	(56,008)	(20,983)	(116,226)	(13,564)
Not Designated as Hedging Instrument | Consolidated Funds | Options and futures
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	(21,778)	(13,994)	(3,977)	(20,888)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(5,150)	3,865	(16,299)	(6,192)
Not Designated as Hedging Instrument | Consolidated Funds | Swaptions
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	(1,187)	0	(3,007)	0
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ 1,191	$ (3,274)	$ 2,342	$ (5,312)

HEDGES AND OTHER DERIVATIVE I51

HEDGES AND OTHER DERIVATIVE INSTRUMENTS - Balance Sheet Offsetting (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Derivative Assets:
Gross Amounts of Assets	$ 124,442	$ 320,696
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	124,442	320,696
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	55,384	70,616
Cash Collateral Received	0	0
Net Amount	69,058	250,080
Derivative Liabilities:
Gross Amounts of Liabilities	(484,633)	(259,265)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(484,633)	(259,265)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(55,384)	(70,617)
Cash Collateral Pledged	256,331	167,117
Net Amount	69,058	250,080
Net Amount	(172,918)	(21,531)
Oaktree Capital Group, LLC
Derivative Liabilities:
Gross Amounts of Liabilities	(3,873)	(5,756)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(3,873)	(5,756)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(3,873)	(5,756)
Cash Collateral Pledged	0
Net Amount	0	0
Oaktree Capital Group, LLC | Foreign currency forward contracts
Derivative Assets:
Gross Amounts of Assets	21,485	24,499
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	21,485	24,499
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	3,873	5,756
Cash Collateral Received	0	0
Net Amount	17,612	18,743
Derivative Liabilities:
Gross Amounts of Liabilities	(1,839)	(3,439)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(1,839)	(3,439)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(1,839)	(3,439)
Cash Collateral Pledged	0
Net Amount	17,612	18,743
Net Amount	0	0
Oaktree Capital Group, LLC | Interest-rate swaps
Derivative Liabilities:
Gross Amounts of Liabilities	(2,034)	(2,317)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(2,034)	(2,317)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(2,034)	(2,317)
Cash Collateral Pledged	0
Net Amount	0	0
Consolidated Funds
Derivative Assets:
Gross Amounts of Assets	102,957	296,197
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	102,957	296,197
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	51,511	64,860
Cash Collateral Received	0	0
Net Amount	51,446	231,337
Derivative Liabilities:
Gross Amounts of Liabilities	(480,760)	(253,509)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(480,760)	(253,509)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(51,511)	(64,861)
Cash Collateral Pledged	256,331	167,117
Net Amount	51,446	231,337
Net Amount	(172,918)	(21,531)
Consolidated Funds | Foreign currency forward contracts
Derivative Assets:
Gross Amounts of Assets	70,550	254,929
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	70,550	254,929
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	42,836	51,260
Cash Collateral Received	0	0
Net Amount	27,714	203,669
Derivative Liabilities:
Gross Amounts of Liabilities	(174,400)	(54,663)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(174,400)	(54,663)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(42,836)	(51,088)
Cash Collateral Pledged	7,642	0
Net Amount	27,714	203,669
Net Amount	(123,922)	(3,575)
Consolidated Funds | Total-return, credit-default and interest-rate swaps
Derivative Assets:
Gross Amounts of Assets	7,296	4,217
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	7,296	4,217
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	160	512
Cash Collateral Received	0	0
Net Amount	7,136	3,705
Derivative Liabilities:
Gross Amounts of Liabilities	(300,548)	(183,359)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(300,548)	(183,359)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(2,880)	(9,427)
Cash Collateral Pledged	248,672	156,011
Net Amount	7,136	3,705
Net Amount	(48,996)	(17,921)
Consolidated Funds | Options and futures
Derivative Assets:
Gross Amounts of Assets	24,997	36,568
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	24,997	36,568
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	8,401	12,605
Cash Collateral Received	0	0
Net Amount	16,596	23,963
Derivative Liabilities:
Gross Amounts of Liabilities	(5,812)	(14,969)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(5,812)	(14,969)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(5,795)	(3,863)
Cash Collateral Pledged	17	11,106
Net Amount	16,596	23,963
Net Amount	0	0
Consolidated Funds | Swaptions
Derivative Assets:
Gross Amounts of Assets	114	483
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	114	483
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	114	483
Cash Collateral Received	0	0
Net Amount	0	0
Derivative Liabilities:
Gross Amounts of Liabilities		$ (518)
Gross Amounts Offset in Liabilities
Derivative liabilities		$ (518)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities		(483)
Cash Collateral Pledged		0
Net Amount	$ 0	0
Net Amount		$ (35)

DEBT OBLIGATIONS AND CREDIT F52

DEBT OBLIGATIONS AND CREDIT FACILITIES - Debt Obligations (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Debt obligations	$ 850,000	$ 850,000
6.09%
Debt Instrument [Line Items]
Debt obligations	50,000	50,000
5.82%
Debt Instrument [Line Items]
Debt obligations	50,000	50,000
6.75%
Debt Instrument [Line Items]
Debt obligations	250,000	250,000
Term Loan, Variable Rate
Debt Instrument [Line Items]
Debt obligations	250,000	250,000
3.91%
Debt Instrument [Line Items]
Debt obligations	50,000	50,000
4.01%
Debt Instrument [Line Items]
Debt obligations	100,000	100,000
4.21%
Debt Instrument [Line Items]
Debt obligations	$ 100,000	$ 100,000

DEBT OBLIGATIONS AND CREDIT F53

DEBT OBLIGATIONS AND CREDIT FACILITIES - Debt Obligations (Additional Information) (Detail) - Jun. 30, 2015 - USD ($)	Total
6.09%
Debt Instrument [Line Items]
Payment terms	$50,000, 6.09%, issued in June 2006, payable on June 6, 2016
Face Amount	$ 50,000,000
Stated percentage (as a percent)	6.09%
Maturity date	Jun. 6, 2016
Offering date	Jun. 30, 2006
5.82%
Debt Instrument [Line Items]
Payment terms	$50,000, 5.82%, issued in November 2006, payable on November 8, 2016
Face Amount	$ 50,000,000
Stated percentage (as a percent)	5.82%
Maturity date	Nov. 8, 2016
Offering date	Nov. 30, 2006
6.75%
Debt Instrument [Line Items]
Payment terms	$250,000, 6.75%, issued in November 2009, payable on December 2, 2019
Face Amount	$ 250,000,000
Stated percentage (as a percent)	6.75%
Maturity date	Dec. 2, 2019
Offering date	Nov. 30, 2009
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	Mar. 31, 2019
Offering date	Mar. 31, 2014
3.91%
Debt Instrument [Line Items]
Payment terms	$50,000, 3.91%, issued in September 2014, payable on September 3, 2024
Face Amount	$ 50,000,000
Stated percentage (as a percent)	3.91%
Maturity date	Sep. 3, 2024
Offering date	Sep. 30, 2014
4.01%
Debt Instrument [Line Items]
Payment terms	$100,000, 4.01%, issued in September 2014, payable on September 3, 2026
Face Amount	$ 100,000,000
Stated percentage (as a percent)	4.01%
Maturity date	Sep. 3, 2026
Offering date	Sep. 30, 2014
4.21%
Debt Instrument [Line Items]
Payment terms	$100,000, 4.21%, issued in September 2014, payable on September 3, 2029
Face Amount	$ 100,000,000
Stated percentage (as a percent)	4.21%
Maturity date	Sep. 3, 2029
Offering date	Sep. 30, 2014

DEBT OBLIGATIONS AND CREDIT F54

DEBT OBLIGATIONS AND CREDIT FACILITIES - Future Principal Payments of Debt Obligations (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Remainder of 2015	$ 0
2,016	100,000
2,017	0
2,018	0
2,019	500,000
Thereafter	250,000
Debt obligations	$ 850,000	$ 850,000

DEBT OBLIGATIONS AND CREDIT F55

DEBT OBLIGATIONS AND CREDIT FACILITIES - Additional Information (Detail) - USD ($)	1 Months Ended	6 Months Ended
	Mar. 31, 2014	Jun. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Debt Instrument [Line Items]
Debt obligations		$ 850,000,000	$ 850,000,000
Maximum leverage ratio, numerator	3
Maximum leverage ratio, denominator	1
Senior Unsecured Credit Facility
Debt Instrument [Line Items]
Minimum required levels of assets under management for credit facilities	$ 50,000,000,000
Consolidated Funds
Debt Instrument [Line Items]
Debt obligations		1,918,409,000	1,601,535,000
Consolidated Funds | Revolving Credit Facility
Debt Instrument [Line Items]
Credit agreement		$ 450,000,000
LIBOR margin (as a percent)		3.05%
Consolidated Funds | Senior Notes
Debt Instrument [Line Items]
Term (in years)		10 years
2.50%
Debt Instrument [Line Items]
Face amount		$ 250,000,000
Debt obligations		250,000,000	250,000,000
2.50% | Senior Unsecured Credit Facility
Debt Instrument [Line Items]
Face amount	$ 250,000,000	250,000,000
Fixed interest rate as a result of interest rate swap (as a percent)	2.69%
Old Line of Credit Facility
Debt Instrument [Line Items]
Debt obligations	$ 218,800,000
2.22% | Senior Unsecured Credit Facility
Debt Instrument [Line Items]
Fixed interest rate as a result of interest rate swap (as a percent)	2.22%
Senior Notes | 3.91% Senior Notes, Series A | Guarantor Subsidiaries
Debt Instrument [Line Items]
Debt obligations				$ 50,000,000
Stated percentage (as a percent)				3.91%
Senior Notes | 4.01% Senior Notes, Series B | Guarantor Subsidiaries
Debt Instrument [Line Items]
Debt obligations				$ 100,000,000
Stated percentage (as a percent)				4.01%
Senior Notes | 4.21% Senior Notes, Series C | Guarantor Subsidiaries
Debt Instrument [Line Items]
Debt obligations				$ 100,000,000
Stated percentage (as a percent)				4.21%
Senior Unsecured Credit Facilities | Senior Unsecured Credit Facility
Debt Instrument [Line Items]
Commitment fee payable on unused funds (as a percent)	0.125%
Senior Unsecured Credit Facilities | Senior Unsecured Credit Facility | LIBOR
Debt Instrument [Line Items]
LIBOR margin (as a percent)	1.00%
Senior Unsecured Credit Facilities | Revolving Credit Facility
Debt Instrument [Line Items]
Credit agreement	$ 500,000,000
Line of credit facility term (in years)	5 years
Level III
Debt Instrument [Line Items]
Debt obligation, fair value		$ 868,400,000	$ 895,900,000
Average borrowing rate (as a percent)		3.40%	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		$ 852,500,000
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		$ 885,000,000
Level III | Consolidated Funds | Senior Notes
Debt Instrument [Line Items]
Debt obligation, fair value		$ 3,200,000,000	$ 2,800,000,000

DEBT OBLIGATIONS AND CREDIT F56

DEBT OBLIGATIONS AND CREDIT FACILITIES - Revolving Bank Credit Facilities and Term Loans Outstanding of Consolidated Funds (Detail) - Consolidated Funds € in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2015EUR (€)	Dec. 31, 2014USD ($)
Line of Credit Facility [Line Items]
Outstanding Amount	$ 5,668,217		$ 4,704,852
Credit Facility 1
Line of Credit Facility [Line Items]
Outstanding Amount	434,000		434,000
Facility Capacity	$ 435,000
LIBOR margin (as a percent)	1.45%
Maturity	Nov. 14, 2018
Variable Rate Notes
Line of Credit Facility [Line Items]
Outstanding Amount	$ 249,500		249,500
Facility Capacity	$ 249,500
LIBOR margin (as a percent)	1.55%
Maturity	Oct. 20, 2022
Variable Rate Notes 1
Line of Credit Facility [Line Items]
Outstanding Amount	$ 499,526		499,322
Facility Capacity	$ 500,000
LIBOR margin (as a percent)	1.20%
Maturity	Apr. 20, 2023
Variable Rate Notes 2
Line of Credit Facility [Line Items]
Outstanding Amount	$ 402,445		402,422
Facility Capacity	$ 402,500
LIBOR margin (as a percent)	1.20%
Maturity	Jul. 20, 2023
Variable Rate Notes 3
Line of Credit Facility [Line Items]
Outstanding Amount	$ 64,500		64,500
Facility Capacity	$ 64,500
LIBOR margin (as a percent)	1.65%
Maturity	Jul. 20, 2023
Variable Rate Notes 4
Line of Credit Facility [Line Items]
Outstanding Amount	$ 420,000		420,000
Facility Capacity	$ 420,000
LIBOR margin (as a percent)	1.47%
Maturity	Aug. 15, 2025
Variable Rate Notes 5
Line of Credit Facility [Line Items]
Outstanding Amount	$ 84,576		84,399
Facility Capacity	$ 86,000
LIBOR margin (as a percent)	2.10%
Maturity	Aug. 15, 2025
Credit Facility 2
Line of Credit Facility [Line Items]
Outstanding Amount	$ 10,000		0
Facility Capacity	$ 650,000
LIBOR margin (as a percent)	1.25%
Maturity	Apr. 11, 2017
Credit Facility 2 | LIBOR | Through October 11, 2015
Line of Credit Facility [Line Items]
LIBOR margin (as a percent)	1.25%
Credit Facility 2 | LIBOR | After October 11, 2015
Line of Credit Facility [Line Items]
LIBOR margin (as a percent)	2.50%
Variable Rate Notes 6
Line of Credit Facility [Line Items]
Outstanding Amount	$ 332,759		332,706
Facility Capacity	$ 333,000
LIBOR margin (as a percent)	1.56%
Maturity	Nov. 15, 2025
Variable Rate Notes 7
Line of Credit Facility [Line Items]
Outstanding Amount	$ 76,801		76,648
Facility Capacity	$ 78,000
LIBOR margin (as a percent)	2.30%
Maturity	Nov. 15, 2025
Variable Rate Notes 8
Line of Credit Facility [Line Items]
Outstanding Amount	$ 39,154		39,049
Facility Capacity	$ 40,000
LIBOR margin (as a percent)	3.20%
Maturity	Nov. 15, 2025
Variable Rate Notes 9
Line of Credit Facility [Line Items]
Outstanding Amount	$ 307,500		0
Facility Capacity	$ 307,500
LIBOR margin (as a percent)	1.55%
Maturity	Feb. 15, 2026
Variable Rate Notes 10
Line of Credit Facility [Line Items]
Outstanding Amount	$ 64,815		0
Facility Capacity	$ 65,000
LIBOR margin (as a percent)	2.30%
Maturity	Feb. 15, 2026
Variable Rate Notes 11
Line of Credit Facility [Line Items]
Outstanding Amount	$ 36,943		0
Facility Capacity	$ 37,500
LIBOR margin (as a percent)	3.10%
Maturity	Feb. 15, 2026
Revolving Credit Facility
Line of Credit Facility [Line Items]
Outstanding Amount	$ 49,381		50,054
Facility Capacity	$ 450,000
LIBOR margin (as a percent)	3.05%
Maturity	Aug. 14, 2015
Commitment Fee Rate (as a percent)	0.25%
L/C fee	2.00%	2.00%
Revolving Credit Facility 1
Line of Credit Facility [Line Items]
Outstanding Amount			500,000
Facility Capacity	$ 500,000
LIBOR margin (as a percent)	1.60%
Maturity	Jun. 26, 2015
Commitment Fee Rate (as a percent)	0.25%
Revolving Credit Facility 2
Line of Credit Facility [Line Items]
Outstanding Amount	$ 567,146		0
Facility Capacity	$ 750,000
LIBOR margin (as a percent)	1.50%
Maturity	Mar. 18, 2018
Commitment Fee Rate (as a percent)	0.60%
L/C fee	1.50%	1.50%
Revolving Credit Facility 3
Line of Credit Facility [Line Items]
Outstanding Amount	$ 0		800
Facility Capacity	$ 55,000
LIBOR margin (as a percent)	2.00%
Maturity	Dec. 15, 2015
Commitment Fee Rate (as a percent)	0.35%
L/C fee	2.00%	2.00%
Revolving Credit Facility 4
Line of Credit Facility [Line Items]
Outstanding Amount	$ 51,515		0
Facility Capacity	$ 110,000
LIBOR margin (as a percent)	2.00%
Maturity	Nov. 4, 2016
Commitment Fee Rate (as a percent)	0.30%
L/C fee	2.00%	2.00%
Revolving Credit Facility 5
Line of Credit Facility [Line Items]
Outstanding Amount	$ 16,750		0
Facility Capacity	$ 50,000
LIBOR margin (as a percent)	1.50%
Maturity	Jan. 30, 2017
Commitment Fee Rate (as a percent)	0.25%
L/C fee	1.50%	1.50%
Euro Denominated Revolving Credit Facility 2
Line of Credit Facility [Line Items]
Outstanding Amount	$ 595,408		650,725
Facility Capacity | €		€ 550,000
LIBOR margin (as a percent)	1.65%
Maturity	Feb. 25, 2016
Commitment Fee Rate (as a percent)	0.25%
L/C fee	1.65%	1.65%
Euro Denominated Revolving Credit Facility 3
Line of Credit Facility [Line Items]
Outstanding Amount	$ 319,824		0
Facility Capacity | €		€ 300,000
LIBOR margin (as a percent)	2.35%
Maturity	Feb. 27, 2017
Commitment Fee Rate (as a percent)	0.50%
L/C fee	2.35%	2.35%
Euro Denominated Revolving Credit Facility 4
Line of Credit Facility [Line Items]
Outstanding Amount	$ 96,364		97,925
Facility Capacity | €		€ 100,000
LIBOR margin (as a percent)	1.95%
Maturity	Feb. 2, 2016
Commitment Fee Rate (as a percent)	0.40%
L/C fee	1.95%	1.95%
Revolving Credit Facility 11
Line of Credit Facility [Line Items]
Outstanding Amount	$ 50,000		146,000
Facility Capacity	$ 221,000
LIBOR margin (as a percent)	1.65%
Maturity	Sep. 30, 2015
Commitment Fee Rate (as a percent)	0.25%
Revolving Credit Facility 12
Line of Credit Facility [Line Items]
Outstanding Amount	$ 339,486		201,739
Facility Capacity	$ 400,000
LIBOR margin (as a percent)	1.60%
Maturity	Jan. 16, 2017
Commitment Fee Rate (as a percent)	0.25%
L/C fee	1.60%	1.60%
Revolving Credit Facility 13
Line of Credit Facility [Line Items]
Outstanding Amount	$ 52,536		56,697
Facility Capacity	$ 61,000
LIBOR margin (as a percent)	2.95%
Maturity	Mar. 15, 2019
Revolving Credit Facility 14
Line of Credit Facility [Line Items]
Outstanding Amount	$ 80,325		88,000
Facility Capacity	$ 95,315
LIBOR margin (as a percent)	2.75%
Maturity	Dec. 16, 2018
Commitment Fee Rate (as a percent)	1.00%
Revolving Credit Facility 15
Line of Credit Facility [Line Items]
Outstanding Amount	$ 0		2,000
Facility Capacity	$ 35,000
LIBOR margin (as a percent)	1.50%
Maturity	Dec. 11, 2015
Commitment Fee Rate (as a percent)	0.20%
Revolving Credit Facility 16
Line of Credit Facility [Line Items]
Outstanding Amount	$ 207,635		93,943
Facility Capacity	$ 250,000
LIBOR margin (as a percent)	1.60%
Maturity	Sep. 8, 2016
Commitment Fee Rate (as a percent)	0.25%
L/C fee	2.00%	2.00%
Revolving Credit Facility 17
Line of Credit Facility [Line Items]
Outstanding Amount	$ 33,983		0
Facility Capacity	$ 40,000
LIBOR margin (as a percent)	2.25%
Maturity	Mar. 4, 2016
Commitment Fee Rate (as a percent)	0.30%
L/C fee	1.75%	1.75%
Credit facility 3
Line of Credit Facility [Line Items]
Outstanding Amount	$ 185,345		214,423
Facility Capacity	$ 185,345
LIBOR margin (as a percent)	1.99%
Credit facility 3 | February 2016
Line of Credit Facility [Line Items]
Outstanding Amount	$ 28,100
Credit facility 3 | March 2016
Line of Credit Facility [Line Items]
Outstanding Amount	157,300
Standby Letters of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding	$ 392,941		$ 43,326

DEBT OBLIGATIONS AND CREDIT F57

DEBT OBLIGATIONS AND CREDIT FACILITIES - Collateralized Loan Obligation Loans Payable (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jul. 07, 2015
Debt Instrument [Line Items]
Debt obligations	$ 850,000	$ 850,000
Consolidated Funds
Debt Instrument [Line Items]
Debt obligations	1,918,409	1,601,535
Assets backing the obligation	2,400,000
Collateralized Loan Obligations | Consolidated Funds
Debt Instrument [Line Items]
Debt obligations	1,918,409	1,601,535
Collateralized Loan Obligations | Consolidated Funds | Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	1,914,510	1,591,911
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 1
Debt Instrument [Line Items]
Debt obligations	$ 456,916	$ 456,567
Weighted average interest rate (as a percent)	2.29%	2.25%
Weighted Average Remaining Maturity (in years)	9 years 9 months 18 days	10 years 3 months 18 days
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 1 | Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 457,278	$ 449,167
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 1 | Estimate of Fair Value Measurement [Member] | LIBOR
Debt Instrument [Line Items]
LIBOR margin (as a percent)	2.01%
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 2
Debt Instrument [Line Items]
Debt obligations	$ 454,124	$ 453,821
Weighted average interest rate (as a percent)	2.48%	2.43%
Weighted Average Remaining Maturity (in years)	11 years 6 months	12 years
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 2 | Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 455,192	$ 454,274
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 2 | Estimate of Fair Value Measurement [Member] | LIBOR
Debt Instrument [Line Items]
LIBOR margin (as a percent)	2.21%
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 3
Debt Instrument [Line Items]
Debt obligations	$ 98,594	$ 85,776
Weighted average interest rate (as a percent)	2.62%	2.61%
Weighted Average Remaining Maturity (in years)	3 years 6 months	4 years
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 3 | Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 97,617	$ 85,468
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 3 | Estimate of Fair Value Measurement [Member] | Minimum | LIBOR
Debt Instrument [Line Items]
Unused commitment fee (as a percent)	0.00%
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 3 | Estimate of Fair Value Measurement [Member] | Maximum | LIBOR
Debt Instrument [Line Items]
Unused commitment fee (as a percent)	2.00%
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 4
Debt Instrument [Line Items]
Debt obligations	$ 372,994	$ 405,018
Weighted average interest rate (as a percent)	2.26%	2.32%
Weighted Average Remaining Maturity (in years)	12 years 2 months 12 days	12 years 8 months 1 day
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 4 | Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 371,425	$ 402,649
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 4 | Estimate of Fair Value Measurement [Member] | EURIBOR
Debt Instrument [Line Items]
LIBOR margin (as a percent)	2.26%
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 5
Debt Instrument [Line Items]
Debt obligations	$ 370,170	0
Weighted average interest rate (as a percent)	2.46%
Weighted Average Remaining Maturity (in years)	12 years 9 months 15 days
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 5 | Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 372,624	0
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 5 | Estimate of Fair Value Measurement [Member] | EURIBOR
Debt Instrument [Line Items]
LIBOR margin (as a percent)	2.27%
Collateralized Loan Obligations | Consolidated Funds | Subordinated note 1
Debt Instrument [Line Items]
Debt obligations	$ 25,500	$ 25,500
Weighted Average Remaining Maturity (in years)	11 years 6 months	12 years
Collateralized Loan Obligations | Consolidated Funds | Subordinated note 1 | Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 22,588	$ 25,500
Collateralized Loan Obligations | Consolidated Funds | Subordinated note 2
Debt Instrument [Line Items]
Debt obligations	$ 21,727	$ 23,596
Weighted Average Remaining Maturity (in years)	12 years 2 months 12 days	12 years 8 months 1 day
Collateralized Loan Obligations | Consolidated Funds | Subordinated note 2 | Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 20,321	$ 23,596
Collateralized Loan Obligations | Consolidated Funds | Subordinated note 3
Debt Instrument [Line Items]
Debt obligations	$ 18,384	0
Weighted Average Remaining Maturity (in years)	12 years 9 months 15 days
Collateralized Loan Obligations | Consolidated Funds | Subordinated note 3 | Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 17,465	0
Collateralized Loan Obligations | Consolidated Funds | Term Loan 1
Debt Instrument [Line Items]
Debt obligations	$ 100,000	0
Weighted average interest rate (as a percent)	1.59%
Credit agreement	$ 116,700
Weighted Average Remaining Maturity (in years)	4 months 24 days
Unused commitment fee (as a percent)	0.10%
LIBOR margin (as a percent)	1.40%
Collateralized Loan Obligations | Consolidated Funds | Term Loan 1 | Subsequent Event
Debt Instrument [Line Items]
Credit agreement			$ 325,000
Collateralized Loan Obligations | Consolidated Funds | Term Loan 1 | Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 100,000	0
Collateralized Loan Obligations | Consolidated Funds | Term 2
Debt Instrument [Line Items]
Debt obligations	0	$ 151,257
Weighted average interest rate (as a percent)		1.24%
Weighted Average Remaining Maturity (in years)		1 year 9 months 18 days
Collateralized Loan Obligations | Consolidated Funds | Term 2 | Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 0	$ 151,257

DEBT OBLIGATIONS AND CREDIT F58

DEBT OBLIGATIONS AND CREDIT FACILITIES - Future Principal Payments with Respect to the CLO Loans Payable (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Remainder of 2015	$ 0
2,016	100,000
2,017	0
2,018	0
2,019	500,000
Thereafter	250,000
Total	850,000	$ 850,000
Consolidated Funds
Debt Instrument [Line Items]
Total	1,918,409	1,601,535
Collateralized Loan Obligations | Consolidated Funds
Debt Instrument [Line Items]
Total	1,918,409	$ 1,601,535
Collateralized Loan Obligations | Consolidated Funds | CLO
Debt Instrument [Line Items]
Remainder of 2015	100,000
2,016	0
2,017	0
2,018	98,594
2,019	0
Thereafter	1,719,815
Total	$ 1,918,409

NON-CONTROLLING REDEEMABLE IN59

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS - Summary of Changes in Non-controlling Redeemable Interests in Consolidated Funds (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Non-Controlling Redeemable Interests in Consolidated Funds [Roll Forward]
Beginning balance	$ 41,681,155	$ 38,834,831
Contributions	3,309,316	4,418,500
Distributions	(3,711,727)	(3,363,672)
Net income	742,608	2,508,145
Change in distributions payable	544,060	2,673
Change in accrued or deferred contributions	12,267	0
Foreign currency translation and other	(364,239)	(23,819)
Ending balance	$ 42,213,440	$ 42,376,658

UNITHOLDERS' CAPITAL - Addition

UNITHOLDERS' CAPITAL - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Total unitholders’ capital	$ 1,888,052	$ 1,772,812	$ 1,888,052	$ 1,772,812	$ 1,840,130	$ 1,708,378
OCGH non-controlling interest	$ (55,509)	(91,813)	$ (163,610)	(255,371)
OCGH
Class of Stock [Line Items]
Unitholders' capital (in shares)	105,459,544		105,459,544		109,088,901
Total unitholders’ capital	$ 1,146,877		$ 1,146,877		$ 1,170,893
OCGH non-controlling interest	$ (53,692)	$ (91,813)	$ (161,910)	$ (255,371)
Oaktree Operating Group
Class of Stock [Line Items]
Total Oaktree Operating Group units (in shares)	153,831,203		153,831,203		152,852,620
Total unitholders’ capital	$ 1,672,925		$ 1,672,925		$ 1,640,594
OCGH non-controlling interest	1,269		604
Equity Held by Third Parties
Class of Stock [Line Items]
Total unitholders’ capital	$ 96,576		$ 96,576		$ 95,068

UNITHOLDERS' CAPITAL - Summary

UNITHOLDERS' CAPITAL - Summary of Net Income (Loss) (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Weighted average Oaktree Operating Group units outstanding (in thousands):
Weighted average number of Class A units outstanding (in shares)	48,372	43,480	46,727	41,600
Oaktree Operating Group net income:
Oaktree Operating Group net income:	$ (316,638)	$ 1,307,243	$ 966,381	$ 2,847,427
Net income (loss) attributable to Oaktree Capital Group, LLC:
Income tax expense of Intermediate Holding Companies	(5,485)	(5,761)	(13,360)	(13,747)
Net income attributable to Oaktree Capital Group, LLC	$ 19,814	$ 31,186	$ 58,067	$ 82,980
OCGH non-controlling interest
Weighted average Oaktree Operating Group units outstanding (in thousands):
Weighted average number of Class A units outstanding (in shares)	105,467	109,221	106,813	110,887
Oaktree Operating Group net income:
Oaktree Operating Group net income:	$ 54,240	$ 91,813	$ 163,006	$ 255,371
Class A Unitholders
Weighted average Oaktree Operating Group units outstanding (in thousands):
Weighted average number of Class A units outstanding (in shares)	48,372	43,480	46,727	41,600
Oaktree Operating Group net income:
Oaktree Operating Group net income:	$ 24,878	$ 36,550	$ 70,188	$ 94,232
Oaktree Operating Group
Weighted average Oaktree Operating Group units outstanding (in thousands):
Weighted average number of Class A units outstanding (in shares)	153,839	152,701	153,540	152,487
Oaktree Operating Group net income:
Oaktree Operating Group net income:	$ 79,118	$ 128,363	$ 233,194	$ 349,603
Oaktree Capital Group, LLC
Net income (loss) attributable to Oaktree Capital Group, LLC:
Oaktree Operating Group net income attributable to Class A unitholders	24,878	36,550	70,188	94,232
Non-Operating Group expenses	(626)	(603)	(960)	(885)
Income tax expense of Intermediate Holding Companies	(4,438)	(4,761)	(11,161)	(10,367)
Net income attributable to Oaktree Capital Group, LLC	$ 19,814	$ 31,186	$ 58,067	$ 82,980

UNITHOLDERS' CAPITAL - Changes

UNITHOLDERS' CAPITAL - Changes in Company Ownership Interest (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Stockholders' Equity Note [Abstract]
Net income attributable to Oaktree Capital Group, LLC	$ 19,814	$ 31,186	$ 58,067	$ 82,980
Equity reallocation between controlling and non-controlling interests	(559)	18	45,202	49,116
Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests	$ 19,255	$ 31,204	$ 103,269	$ 132,096

UNITHOLDERS' CAPITAL - Offering

UNITHOLDERS' CAPITAL - Offering (Details) - Class A Units - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Mar. 31, 2015	Jun. 30, 2015	Jun. 30, 2014
Class of Stock [Line Items]
Issuance of units (in shares)	4,600,000	4,608,000	5,007,000
Proceeds from issuance of Class A units, net	$ 237.8

EARNINGS PER UNIT - Computation

EARNINGS PER UNIT - Computations of Net Income (Loss) Per Unit (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net income	$ 19,814	$ 31,186	$ 58,067	$ 82,980
Weighted average number of Class A units outstanding (in shares)	48,372	43,480	46,727	41,600
Basic and diluted net income per Class A unit (in dollars per share)	$ 0.41	$ 0.72	$ 1.24	$ 1.99

EARNINGS PER UNIT - Computati65

EARNINGS PER UNIT - Computations of Net Income (Loss) Per Unit (Additional Information) (Detail) - shares	1 Months Ended	6 Months Ended
	Aug. 31, 2014	Jun. 30, 2015
OCGH Units
Earnings Per Share [Line Items]
OCGH Issued (in shares)		105,459,544
Class A Units
Earnings Per Share [Line Items]
OCGH units represented (in shares)		105,459,544
Highstar Capital
Earnings Per Share [Line Items]
Performance period (in years)	7 years	7 years

EQUITY-BASED COMPENSATION - Add

EQUITY-BASED COMPENSATION - Additional Information (Detail) - Jun. 30, 2015 - USD ($) $ in Millions	Total	Total
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)		1,157,492
Discount from market price (as a percent)	20.00%
Forfeiture rate (as a percent)		1.50%
Unrecognized compensation expense on non-vested equity-based awards	$ 157.7	$ 157.7
Weighted average period of recognition non-vested equity-based awards (in years)		4 years 9 months 18 days
Restricted Unit Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average vesting period (in years)		5 years
OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)		1,157,492
Class A Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)		7,940

EQUITY-BASED COMPENSATION - Sum

EQUITY-BASED COMPENSATION - Summary of Unvested Equity-Based Awards and Changes (Detail) - 6 months ended Jun. 30, 2015 - $ / shares	Total
Number of Units (in shares)
Granted	1,157,492
Class A Units
Number of Units (in shares)
Beginning balance	19,049
Granted	7,940
Vested	(5,403)
Forfeited	0
Ending balance	21,586
Weighted Average Grant Date Fair Value (in dollars per share)
Beginning balance	$ 50.63
Granted	55.75
Vested	49.88
Forfeited	0
Ending balance	$ 52.70
OCGH Units
Number of Units (in shares)
Beginning balance	5,070,992
Granted	1,157,492
Vested	(1,339,249)
Forfeited	(84,173)
Ending balance	4,805,062
Weighted Average Grant Date Fair Value (in dollars per share)
Beginning balance	$ 36.21
Granted	44.07
Vested	32.15
Forfeited	35.09
Ending balance	$ 39.26

EQUITY-BASED COMPENSATION - Sch

EQUITY-BASED COMPENSATION - Schedule of Unvested Units Expected to Vest (Detail) - shares	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Class A Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units (in shares)	21,586	19,049
Weighted Average Remaining Service Term (in years)	2 years 10 months 24 days
OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units (in shares)	4,805,062	5,070,992
Weighted Average Remaining Service Term (in years)	4 years 9 months 18 days

EQUITY-BASED COMPENSATION - Equ

EQUITY-BASED COMPENSATION - Equity Value Units (Details) - USD ($) $ in Millions	Feb. 24, 2015	Dec. 02, 2014	Jun. 30, 2015	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)				1,157,492
Unrecognized compensation expense on non-vested equity-based awards			$ 157.7	$ 157.7
Discount from market price (as a percent)			20.00%
Forfeiture rate (as a percent)				1.50%
Chief Executive Officer | Equity Value Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)		2,000,000
Weighted average vesting period (in years)		5 years
Performance period (in years)	2 years
Recapitalization percentage				33.33%
Unrecognized compensation expense on non-vested equity-based awards			$ 13.8	$ 13.8
Weighted Average Remaining Service Term (in years)				4 years 6 months
Forfeiture rate (as a percent)				0.00%
Chief Executive Officer | Equity Value Units, Equity Settled
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units (in shares)			1,000,000	1,000,000
Chief Executive Officer | Equity Value Units, Cash Settled
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units (in shares)			1,000,000	1,000,000

INCOME TAXES AND RELATED PAYM70

INCOME TAXES AND RELATED PAYMENTS (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total
Income Tax Disclosure [Abstract]
Decreases resulting from settlements with taxing authorities	$ 3.5
Deferred tax asset related to unitholders under tax receivable agreement	73.5
Liability payments under tax receivable agreement	62.5
Net tax benefit	$ 11

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Detail) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Aug. 31, 2014	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Contingencies And Commitments [Line Items]
Accrued incentives (fund level)		$ 1,917,356,000	$ 1,917,356,000	$ 1,915,107,000
Compensation expense related to accrued incentives (fund level)		922,550,000	922,550,000	930,572,000
Capital commitments		444,800,000	444,800,000	256,000,000
Consolidated Funds
Contingencies And Commitments [Line Items]
Aggregate potential credit and investment commitments		1,466,600,000	1,466,600,000	$ 1,585,800,000
Consolidated Funds | Support Provided Pursuant to Contractual Agreements | Financial Support
Contingencies And Commitments [Line Items]
Other commitment		282,300,000	282,300,000
Consolidated Funds | Support Provided at the Discretion of the Company | Financial Support
Contingencies And Commitments [Line Items]
Other commitment		3,000,000,000	$ 3,000,000,000
Highstar Capital
Contingencies And Commitments [Line Items]
Contingent consideration	$ 60,000,000
Performance period (in years)	7 years		7 years
Contingent consideration		$ 28,700,000	$ 28,700,000
Discount rate (as a percent)		10.00%	10.00%
Contingent consideration expense		$ 700,000	$ 1,500,000

RELATED-PARTY TRANSACTIONS - Am

RELATED-PARTY TRANSACTIONS - Amounts Due from and Due to Affiliates (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Due from affiliates:
Loans	$ 34,328	$ 39,452
Amounts due from non-consolidated funds	1,852	2,525
Payments made on behalf of non-consolidated entities	3,824	3,221
Non-interest bearing advances made to certain non-controlling interest holders and employees	1,738	1,683
Total due from affiliates	41,742	46,881
Due to affiliates:
Due to OCGH unitholders in connection with the tax receivable agreement	370,949	308,475
Amounts due to senior executives, certain non-controlling interest holders and employees	327	739
Total due to affiliates	$ 371,276	$ 309,214

RELATED-PARTY TRANSACTIONS - Ad

RELATED-PARTY TRANSACTIONS - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 23, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest income		$ 913	$ 783
Buyout provision	$ 12,500
Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Due to affiliates		$ 167,659		$ 159,264
Discounted cash flow | Affiliates | Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate (as a percent)		10.00%
Minimum | Discounted cash flow | Affiliates | Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Average interest rate (as a percent)		2.00%
Maximum | Discounted cash flow | Affiliates | Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Average interest rate (as a percent)		3.00%

SEGMENT REPORTING - Adjusted Ne

SEGMENT REPORTING - Adjusted Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Management fees	$ 50,923	$ 51,560	$ 101,742	$ 91,991
Incentive income	564	0	564	0
Total revenues	51,487	51,560	102,306	91,991
Expenses:
Compensation and benefits	(107,750)	(92,735)	(217,893)	(191,027)
Equity-based compensation	(16,083)	(10,487)	(27,789)	(19,669)
Incentive income compensation	(35,211)	(36,259)	(102,103)	(127,753)
General and administrative	(33,488)	(31,665)	(40,068)	(63,903)
Depreciation and amortization	(3,107)	(1,815)	(5,999)	(3,736)
Total expenses	(245,929)	(215,385)	(481,903)	(473,704)
Interest expense, net of interest income	(52,742)	(25,699)	(99,311)	(49,699)
Other income (expense), net	2,863	9	7,557	(1,689)
Investment Management
Revenues:
Management fees	185,558	189,119	373,608	377,519
Incentive income	61,148	59,198	214,027	352,074
Investment income	23,365	54,199	76,823	100,679
Total revenues	270,071	302,516	664,458	830,272
Expenses:
Compensation and benefits	(103,761)	(92,638)	(209,615)	(190,832)
Equity-based compensation	(11,901)	(5,111)	(18,924)	(9,094)
Incentive income compensation	(29,554)	(30,147)	(119,656)	(167,975)
General and administrative	(25,972)	(31,131)	(50,322)	(61,693)
Depreciation and amortization	(2,105)	(1,815)	(3,996)	(3,736)
Total expenses	(173,293)	(160,842)	(402,513)	(433,330)
Adjusted net income before interest and other income (expense)	96,778	141,674	261,945	396,942
Interest expense, net of interest income	(8,782)	(6,934)	(17,715)	(13,559)
Other income (expense), net	(2,650)	9	(3,546)	(1,689)
Adjusted net income	$ 85,346	$ 134,749	$ 240,684	$ 381,694

SEGMENT REPORTING - Adjusted 75

SEGMENT REPORTING - Adjusted Net Income (Additional Information) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Investment Management
Segment Reporting, Asset Reconciling Item [Line Items]
Interest income	$ 1.2	$ 0.7	$ 2.2	$ 1.8

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation of Net Income Attributable to Oaktree Capital Group, LLC to Adjusted Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Segment Reporting Information [Line Items]
Net income attributable to Oaktree Capital Group, LLC	$ 19,814	$ 31,186	$ 58,067	$ 82,980
Equity-based compensation	16,083	10,487	27,789	19,669
Income taxes	5,485	5,761	13,360	13,747
Non-Operating Group expenses	626	603	960	885
OCGH non-controlling interest	55,509	91,813	163,610	255,371
Units Issued Prior to IPO and EVUs
Segment Reporting Information [Line Items]
Equity-based compensation	4,182	5,376	8,865	10,575
OCGH
Segment Reporting Information [Line Items]
OCGH non-controlling interest	53,692	91,813	161,910	255,371
Adjustments
Segment Reporting Information [Line Items]
Net income attributable to Oaktree Capital Group, LLC	(65,532)	(103,563)	(182,617)	(298,714)
Incentive income	(5,805)	(6,102)	11,573	58,358
Incentive income compensation	5,657	6,112	(17,553)	(40,222)
Amortization of intangibles	1,695	0	3,502	0
Income taxes	5,485	5,761	13,360	13,747
OCGH non-controlling interest	55,509	91,813	163,610	255,371
Investment Management
Segment Reporting Information [Line Items]
Net income attributable to Oaktree Capital Group, LLC	85,346	134,749	240,684	381,694
Equity-based compensation	11,901	5,111	18,924	9,094
Income taxes	0	0	0	0
OCGH non-controlling interest	0	0	0	0
Adjusted net income	$ 85,346	$ 134,749	$ 240,684	$ 381,694

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 ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Management fees	$ 50,923	$ 51,560	$ 101,742	$ 91,991
Incentive income	564	0	564	0
Investment income (loss)	15,694	4,390	28,376	9,381
Total expenses	(245,929)	(215,385)	(481,903)	(473,704)
Interest expense, net	(52,742)	(25,699)	(99,311)	(49,699)
Other income, net	2,863	9	7,557	(1,689)
Other income (loss) of Consolidated Funds	(82,526)	1,498,129	1,422,716	3,284,894
Income taxes	(5,485)	(5,761)	(13,360)	(13,747)
OCGH non-controlling interest	(55,509)	(91,813)	(163,610)	(255,371)
Net income attributable to Oaktree Capital Group, LLC	19,814	31,186	58,067	82,980
Corporate investments	176,678	168,163	176,678	168,163	$ 187,963
Total assets	55,211,819	51,249,837	55,211,819	51,249,837	$ 53,344,062
Investment Management
Segment Reporting, Asset Reconciling Item [Line Items]
Management fees	185,558	189,119	373,608	377,519
Incentive income	61,148	59,198	214,027	352,074
Investment income (loss)	23,365	54,199	76,823	100,679
Total expenses	(173,293)	(160,842)	(402,513)	(433,330)
Interest expense, net	(8,782)	(6,934)	(17,715)	(13,559)
Other income, net	(2,650)	9	(3,546)	(1,689)
Other income (loss) of Consolidated Funds	0	0	0	0
Income taxes	0	0	0	0
OCGH non-controlling interest	0	0	0	0
Net income attributable to Oaktree Capital Group, LLC	85,346	134,749	240,684	381,694
Corporate investments	1,560,235	1,468,517	1,560,235	1,468,517
Total assets	3,249,492	2,909,825	3,249,492	2,909,825
Adjustments
Segment Reporting, Asset Reconciling Item [Line Items]
Management fees	(134,635)	(137,559)	(271,866)	(285,528)
Incentive income	(60,584)	(59,198)	(213,463)	(352,074)
Investment income (loss)	(7,671)	(49,809)	(48,447)	(91,298)
Total expenses	(72,636)	(54,543)	(79,390)	(40,374)
Interest expense, net	(43,960)	(18,765)	(81,596)	(36,140)
Other income, net	5,513	0	11,103	0
Other income (loss) of Consolidated Funds	(82,526)	1,498,129	1,422,716	3,284,894
Income taxes	(5,485)	(5,761)	(13,360)	(13,747)
OCGH non-controlling interest	(55,509)	(91,813)	(163,610)	(255,371)
Net income attributable to Oaktree Capital Group, LLC	(65,532)	(103,563)	(182,617)	(298,714)
Corporate investments	(1,383,557)	(1,300,354)	(1,383,557)	(1,300,354)
Total assets	51,962,327	48,340,012	51,962,327	48,340,012
Non-controlling Interests in Consolidated Funds
Segment Reporting, Asset Reconciling Item [Line Items]
Net income (loss) attributable to non-controlling interests in consolidated funds	391,961	(1,184,244)	(744,704)	(2,509,076)
OCGH non-controlling interest	391,961	(1,184,244)	(744,704)	(2,509,076)
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	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	$ 391,961	$ (1,184,244)	$ (744,704)	$ (2,509,076)

SEGMENT REPORTING - Schedule 78

SEGMENT REPORTING - Schedule of Reconciliation of Total Segments to Income Loss Attributable to Oaktree Capital Group, LLC and Total Assets (Additional Information) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Equity-based compensation	$ 16,083	$ 10,487	$ 27,789	$ 19,669
Consolidated fund expenses	54,920	42,452	72,430	69,136
Expenses incurred by Intermediate Holding Companies	652	603	987	885
Corporate investments	176,678	168,163	176,678	168,163	$ 187,963
Investment Management
Segment Reporting, Asset Reconciling Item [Line Items]
Equity-based compensation	11,901	5,111	18,924	9,094
Corporate investments	1,560,235	1,468,517	1,560,235	1,468,517
Investment Management | Equity Method Investments
Segment Reporting, Asset Reconciling Item [Line Items]
Equity method investments	1,300,000	1,300,000	1,300,000	1,300,000
Adjustments
Segment Reporting, Asset Reconciling Item [Line Items]
Incentive income compensation	5,657	6,112	(17,553)	(40,222)
Amortization of intangibles	1,695	0	3,502	0
Reimbursable expenses	5,513		11,103
Share-based compensation accounted for as liability awards	173		261
Other expenses	16		55
Corporate investments	(1,383,557)	(1,300,354)	(1,383,557)	(1,300,354)
OCGH Units Prior to Initial Public Offering in April 2012
Segment Reporting, Asset Reconciling Item [Line Items]
Equity-based compensation	$ 4,010	$ 5,376	$ 8,605	$ 10,575

SUBSEQUENT EVENTS (Detail)

SUBSEQUENT EVENTS (Detail)	Jul. 28, 2015$ / shares
Class A Units | Subsequent Event
Class of Stock [Line Items]
Dividend declared (in dollars per share)	$ 0.50

Uncategorized Items - oak-20150

Label	Element	Value
Investment Income, Nonoperating	us-gaap_InvestmentIncomeNonoperating	$ 15,694
Investment Income, Nonoperating	us-gaap_InvestmentIncomeNonoperating	$ 4,390