Oaktree Capital (OAK-PB) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 02, 2015
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
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		48,671,659
Class B Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		105,317,704

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Assets
Cash and cash-equivalents	$ 421,712	$ 408,296
U.S. Treasury securities	656,120	655,529
Corporate investments (includes $16,872 and $40,814 measured at fair value as of September 30, 2015 and December 31,2014, respectively)	173,574	187,963
Due from affiliates	37,806	46,881
Deferred tax assets	430,797	357,364
Investments, at fair value	47,684,422	46,533,799
Derivative assets, at fair value	159,558	320,696
Other assets	257,908	282,516
Total assets	54,858,051	53,344,062
Liabilities:
Accrued compensation expense	225,932	294,886
Accounts payable, accrued expenses and other liabilities	122,138	148,361
Due to affiliates	370,949	309,214
Debt obligations	850,000	850,000
Derivative liabilities, at fair value	739,265	259,265
Total liabilities	$ 12,095,808	$ 9,822,777
Commitments and contingencies (Note 13)
Non-controlling redeemable interests in consolidated funds	$ 40,940,811	$ 41,681,155
Unitholders’ capital:
Paid-in capital	598,858	536,431
Retained earnings	0	11,378
Accumulated other comprehensive loss	(1,661)	(1,070)
Class A unitholders’ capital	597,197	546,739
Non-controlling interest in consolidated subsidiaries and funds	31,092	27,430
Total unitholders’ capital	1,821,432	1,840,130
Total liabilities and unitholders’ capital	54,858,051	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	2,825,585	2,940,198
Investments, at fair value	47,684,422	46,533,799
Dividends and interest receivable	181,591	193,428
Due from brokers	1,296,401	605,882
Receivable for securities sold	260,759	171,817
Derivative assets, at fair value	149,223	296,197
Other assets	482,153	664,192
Liabilities:
Accounts payable, accrued expenses and other liabilities	84,588	75,487
Debt obligations	2,351,272	1,601,535
Payables for securities purchased	826,592	767,733
Securities sold short, at fair value	115,463	64,438
Derivative liabilities, at fair value	734,360	253,509
Distributions payable	186,153	752,762
Borrowings under credit facilities	6,228,361	4,704,852
Non-controlling Interests in Consolidated Funds
Unitholders’ capital:
Non-controlling interest in consolidated subsidiaries and funds	$ 1,193,143	$ 1,265,961

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Total investments	$ 16,872	$ 40,814
Class A Units
Par Value (in dollars per share)	$ 0	$ 0
Units Authorized (in shares)	Unlimited	Unlimited
Issued (in shares)	48,671,659	43,763,719
Outstanding (in shares)	48,671,659	43,763,719
Class B Units
Par Value (in dollars per share)	$ 0	$ 0
Units Authorized (in shares)	Unlimited	Unlimited
Issued (in shares)	105,317,704	109,088,901
Outstanding (in shares)	105,317,704	109,088,901

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Management fees	$ 47,106	$ 54,243	$ 148,848	$ 146,234
Incentive income	3,385	0	3,949	0
Total revenues	50,491	54,243	152,797	146,234
Expenses:
Compensation and benefits	(101,240)	(101,482)	(319,133)	(292,509)
Equity-based compensation	(12,494)	(10,557)	(40,283)	(30,226)
Incentive income compensation	(4,907)	(43,048)	(107,010)	(170,801)
Total compensation and benefits expense	(118,641)	(155,087)	(466,426)	(493,536)
General and administrative	(37,627)	(15,294)	(77,695)	(79,197)
Depreciation and amortization	(4,032)	(2,402)	(10,031)	(6,138)
Consolidated fund expenses	(30,218)	(79,618)	(118,269)	(147,234)
Total expenses	(190,518)	(252,401)	(672,421)	(726,105)
Other income (loss):
Interest expense	(56,023)	(34,564)	(155,334)	(84,263)
Investment income	10,342	5,768	38,718	15,149
Other income (expense), net	6,368	2,695	13,925	1,006
Total other income (loss)	(1,624,651)	(375,461)	(265,313)	2,867,426
Income (loss) before income taxes	(1,764,678)	(573,619)	(784,937)	2,287,555
Income taxes	(1,893)	(5,341)	(15,253)	(19,088)
Net income (loss)	(1,766,571)	(578,960)	(800,190)	2,268,467
Less:
Net (income) loss attributable to non-controlling interests	(10,767)	(67,551)	(174,377)	(322,922)
Net income attributable to Oaktree Capital Group, LLC	$ 1,887	$ 18,913	$ 59,954	$ 101,893
Distributions declared per Class A unit (in dollars per share)	$ 0.5	$ 0.55	$ 1.7	$ 2.53
Net income per unit (basic and diluted):
Net income per Class A unit (in dollars per share)	$ 0.04	$ 0.43	$ 1.27	$ 2.41
Weighted average number of Class A units outstanding (in shares)	48,440	43,480	47,304	42,234
Consolidated Funds
Other income (loss):
Interest and dividend income	$ 454,384	$ 861,109	$ 1,455,624	$ 1,507,306
Net realized gain on consolidated funds’ investments	318,267	428,267	1,650,645	1,596,596
Net change in unrealized appreciation (depreciation) on consolidated funds’ investments	(2,357,989)	(1,638,736)	(3,268,891)	(168,368)
Non-controlling Interests in Consolidated Funds
Less:
Net (income) loss attributable to non-controlling interests	$ 1,779,225	$ 665,424	$ 1,034,521	$ (1,843,652)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income (loss)	$ (1,766,571)	$ (578,960)	$ (800,190)	$ 2,268,467
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(1,411)	(1,659)	(2,539)	(1,579)
Unrealized gain on interest-rate swap designated as cash-flow hedge	178	1,126	461	1,648
Other comprehensive income (loss), net of tax	(1,233)	(533)	(2,078)	69
Total comprehensive income (loss)	(1,767,804)	(579,493)	(802,268)	2,268,536
Less: Comprehensive (income) loss attributable to non-controlling interests	1,769,303	598,254	861,631	(2,166,617)
Comprehensive income attributable to Oaktree Capital Group, LLC	1,499	18,761	59,363	101,919
Oaktree Capital Group, LLC
Net income (loss)	1,887	18,913	59,954	101,893
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(444)	(472)	(738)	(457)
Unrealized gain on interest-rate swap designated as cash-flow hedge	56	320	147	483
Other comprehensive income (loss), net of tax	(388)	(152)	(591)	26
Total comprehensive income (loss)	1,499	18,761	59,363	101,919
Comprehensive income attributable to Oaktree Capital Group, LLC	1,499	18,761	59,363	101,919
Non-controlling Interests in Consolidated Subsidiaries
Net income (loss)	10,767	67,551	174,377	322,922
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(967)	(1,187)	(1,801)	(1,122)
Unrealized gain on interest-rate swap designated as cash-flow hedge	122	806	314	1,165
Other comprehensive income (loss), net of tax	(845)	(381)	(1,487)	43
Total comprehensive income (loss)	9,922	67,170	172,890	322,965
Less: Comprehensive (income) loss attributable to non-controlling interests	(9,922)	(67,170)	(172,890)	(322,965)
Non-controlling Interests in Consolidated Funds
Net income (loss)	(1,779,225)	(665,424)	(1,034,521)	1,843,652
Other comprehensive income (loss), 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 (loss), net of tax	0	0	0	0
Total comprehensive income (loss)	(1,779,225)	(665,424)	(1,034,521)	1,843,652
Less: Comprehensive (income) loss attributable to non-controlling interests	$ 1,779,225	$ 665,424	$ 1,034,521	$ (1,843,652)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities:
Net income (loss)	$ (800,190)	$ 2,268,467
Adjustments to reconcile net income to net cash used in operating activities:
Investment income	(38,718)	(15,149)
Depreciation and amortization	10,031	6,138
Equity-based compensation	40,283	30,226
Net realized and unrealized (gains) losses from consolidated funds’ investments	1,618,246	(1,428,228)
Amortization (accretion) of original issue and market discount of consolidated funds’ investments, net	(4,419)	(12,335)
Income distributions from corporate investments in companies	48,826	41,470
Amortization or write-down of debt issuance costs	9,184	9,091
Cash flows due to changes in operating assets and liabilities:
(Increase) decrease in other assets	35,620	(9,082)
Increase (decrease) in net due to affiliates	8,334	(1,583)
Decrease in accrued compensation expense	(68,954)	(32,017)
Increase (decrease) in accounts payable, accrued expenses and other liabilities	(26,879)	28,141
Purchases of securities	(41,289)	(23,381)
Net cash used in operating activities	(2,168,564)	(2,874,431)
Cash flows from investing activities:
Purchases of U.S. Treasury securities	(290,645)	(239,803)
Proceeds from maturities and sales of U.S. Treasury securities	290,054	436,041
Distributions and proceeds from corporate investments in funds and companies	45,570	26,251
Acquisition, net of cash acquired (Highstar)	0	(25,637)
Purchases of fixed assets	(21,069)	(4,940)
Net cash provided by (used in) investing activities	(17,379)	168,531
Cash flows from financing activities:
Proceeds from issuance of debt obligations	0	500,000
Payment of debt issuance costs	0	(2,196)
Repayments of debt obligations	0	(229,464)
Proceeds from issuance of Class A units	237,820	296,650
Purchase of OCGH units	(237,820)	(296,400)
Repurchase and cancellation of OCGH units	(4,512)	(2,085)
Distributions to Class A unitholders	(79,651)	(104,997)
Distributions to OCGH unitholders	(219,822)	(344,300)
Contributions from non-controlling interests	4,000	0
Distributions to non-controlling interests	(4,612)	0
Effect of exchange rate changes on cash	(9,006)	(6,858)
Net increase (decrease) in cash and cash-equivalents	(101,197)	1,228,803
Cash and cash-equivalents, beginning balance	3,348,494	2,637,665
Cash and cash-equivalents, ending balance	3,247,297	3,866,468
Consolidated Funds
Cash flows due to changes in operating assets and liabilities:
Increase (decrease) in accounts payable, accrued expenses and other liabilities	36,132	25,544
(Increase) decrease in dividends and interest receivable	11,837	(26,516)
Increase in due from brokers	(690,519)	(406,199)
(Increase) decrease in receivables for securities sold	(88,942)	70,100
(Increase) decrease in other assets	184,544	(184,509)
Increase in payables for securities purchased	58,859	57,087
Purchases of securities	(14,351,834)	(16,864,421)
Proceeds from maturities and sales of securities	11,839,995	13,569,344
Cash flows from financing activities:
Payment of debt issuance costs	(17,163)	(17,834)
Contributions from non-controlling interests	4,295,992	6,269,965
Distributions to non-controlling interests	(4,236,330)	(5,035,110)
Proceeds from debt obligations issued by CLOs	882,574	978,526
Borrowings on credit facilities	4,932,370	5,694,328
Repayments on credit facilities	(3,459,094)	(3,765,522)
Net cash provided by financing activities	$ 2,093,752	$ 3,941,561

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Changes in Unitholders' Capital - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			$ 1,840,130	$ 1,708,378
Issuance of units, value			237,820	296,650
Issuance of OCGH units related to the Highstar acquisition				3,996
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			(4,512)	(2,085)
Non-controlling interests related to the Highstar acquisition				72,195
Capital contributions			6,880	50,127
Equity reallocation between controlling and non-controlling interests	$ 2,496	$ (391)	47,698	48,725
Capital increase related to equity-based compensation			38,959	30,226
Distributions declared			(306,047)	(452,095)
Net income			237,075	425,688
Foreign currency translation adjustment, net of tax	(1,411)	(1,659)	(2,539)	(1,579)
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax			461	1,648
Unitholders' capital, value	1,821,432	1,850,871	1,821,432	1,850,871
Paid-in Capital
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			536,431	590,236
Issuance of units, value			237,820	296,650
Issuance of OCGH units related to the Highstar acquisition				1,137
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			47,698	48,725
Capital increase related to equity-based compensation			12,023	8,383
Distributions declared			(8,319)	(104,997)
Unitholders' capital, value	598,858	557,856	598,858	557,856
Retained Earnings (Accumulated Deficit)
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			11,378	(114,905)
Distributions declared			(71,332)
Net income			59,954	101,893
Unitholders' capital, value	0	(13,012)	0	(13,012)
Accumulated Other Comprehensive Income (Loss)
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			(1,070)	(1,122)
Foreign currency translation adjustment, net of tax			(738)	(457)
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax			147	483
Unitholders' capital, value	(1,661)	(1,096)	(1,661)	(1,096)
Non-controlling Interests in Consolidated Subsidiaries
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			1,265,961	1,234,169
Issuance of OCGH units related to the Highstar acquisition				2,859
Repurchase and cancellation of OCGH units			(4,512)	(2,085)
Non-controlling interests related to the Highstar acquisition				72,195
Capital contributions			4,000	2,668
Equity reallocation between controlling and non-controlling interests			(47,698)	(48,725)
Capital increase related to equity-based compensation			26,936	21,843
Distributions declared			(224,434)	(346,968)
Net income			174,377	322,922
Foreign currency translation adjustment, net of tax	(967)	(1,187)	(1,801)	(1,122)
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax			314	1,165
Unitholders' capital, value	1,193,143	1,258,921	1,193,143	1,258,921
Non-controlling Interests in Consolidated Funds
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, value			27,430	0
Capital contributions			2,880	47,459
Distributions declared			(1,962)	(130)
Net income			2,744	873
Foreign currency translation adjustment, net of tax	0	0	0	0
Unitholders' capital, value	$ 31,092	$ 48,202	$ 31,092	$ 48,202
Class A Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, shares			43,764,000	38,473,000
Issuance of units, shares			4,908,000	5,007,000
Unitholders' capital, shares	48,672,000	43,480,000	48,672,000	43,480,000
Class B Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, shares			109,089,000	112,584,000
Issuance of units, shares			1,338,000	1,891,000
Cancellation of Class B units associated with forfeitures of OCGH units, shares			(105,000)	(56,000)
Cancellation of Class B units, shares			(5,004,000)	(5,046,000)
Unitholders' capital, shares	105,318,000	109,373,000	105,318,000	109,373,000

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 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. 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 (collectively, 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 Company’s audited consolidated financial statements for the year ended December 31, 2014 included in the Company’s Annual Report on Form 10-K, which was 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	9 Months Ended
	Sep. 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 for which it has a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. As of September 30, 2015, consolidated entities 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 general partner and is deemed to exercise control through a voting interest model. Variable Interest Model. The Company consolidates VIEs for which it is considered the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity’s business and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The consolidation model for VIEs, which was revised effective January 1, 2010, requires an analysis to determine (a) whether an entity in which the Company holds a variable interest is a VIE and (b) whether the Company’s involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance-related fees), would give it a controlling financial interest. The consolidation model for VIEs may be deferred if the VIE and the reporting entity’s interest in the VIE meet the deferral conditions set forth in Accounting Standards Codification (“ASC”) 810-10-65-2(aa). If a VIE has met the deferral conditions, the analysis is based on the consolidation model for VIEs prior to January 1, 2010, which requires an analysis to determine (a) whether an entity in which the Company holds a variable interest is a VIE and (b) whether the Company’s involvement through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance-related fees) would be expected to absorb a majority of the variability of the entity. Under either model, the Company determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion at each reporting date. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly by the Company or indirectly through related parties. The consolidation analysis can generally be performed qualitatively; however, if it is not readily apparent that the Company is not the primary beneficiary, a quantitative analysis may also be performed. Investments and redemptions (either by the Company, affiliates of the Company or third parties) or amendments to the governing documents of the respective Oaktree funds could affect an entity’s status as a VIE or the determination of the primary beneficiary. While the Company holds variable interests in the Oaktree funds, most of those funds do not meet the characteristics of a VIE. As of September 30, 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. Two of the CLOs had not priced as of September 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 September 30, 2015 and December 31, 2014. As of September 30, 2015, the Company consolidated seven CLOs with total assets and liabilities of $2.9 billion and $2.6 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 are 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 September 30, 2015, the Company had invested an aggregate $161.5 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 intercompany transactions, including 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. 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 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 hierarchical 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 ongoing monitoring and back-testing, the Company performs due diligence procedures surrounding 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 amended its consolidation guidance to end the deferral granted to investment companies with respect to applying the VIE guidance. The new guidance does not affect 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 is currently evaluating the effect that adoption will have on its condensed consolidated financial statements. The adoption is expected to significantly reduce the number of funds consolidated by the Company, and therefore reduce the Company’s total assets, total liabilities and non-controlling redeemable interests in consolidated funds. The Company does not expect there to be an impact on net income attributable to the Company. 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. The Company is currently evaluating the effect that adoption will have on its condensed consolidated financial statements.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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: September 30, 2015 December 31, September 30, December 31, United States: Debt securities: Consumer discretionary $ 3,546,268 $ 3,173,576 7.5 % 6.8 % Consumer staples 777,634 692,890 1.6 1.5 Energy 1,090,688 1,028,317 2.3 2.2 Financials 1,240,338 805,337 2.6 1.7 Government 99,488 140,053 0.2 0.3 Health care 1,241,130 1,010,462 2.6 2.2 Industrials 1,873,095 1,795,909 4.0 3.9 Information technology 1,347,062 1,167,635 2.8 2.5 Materials 1,541,824 1,288,947 3.2 2.8 Telecommunication services 460,620 372,457 1.0 0.8 Utilities 634,742 1,409,408 1.3 3.0 Total debt securities (cost: $15,653,664 and $13,611,109 as of September 30, 2015 and December 31, 2014, respectively) 13,852,889 12,884,991 29.1 27.7 Equity securities: Consumer discretionary 1,866,174 2,475,318 3.9 5.3 Consumer staples 841,227 530,305 1.8 1.1 Energy 1,870,280 1,756,480 3.9 3.8 Financials 7,783,473 7,720,904 16.3 16.6 Health care 222,636 224,705 0.5 0.5 Industrials 1,979,349 2,970,356 4.2 6.4 Information technology 66,806 176,097 0.1 0.4 Materials 968,383 1,207,523 2.0 2.6 Telecommunication services 17,535 21,616 0.0 0.0 Utilities 238,995 329,175 0.5 0.7 Total equity securities (cost: $13,688,157 and $13,911,333 as of September 30, 2015 and December 31, 2014, respectively) 15,854,858 17,412,479 33.2 37.4 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments: September 30, December 31, September 30, December 31, Europe: Debt securities: Consumer discretionary $ 1,396,935 $ 1,371,689 3.0 % 3.0 % Consumer staples 245,375 242,513 0.5 0.5 Energy 301,274 370,456 0.6 0.8 Financials 854,247 803,468 1.8 1.7 Government 40,124 — 0.1 — Health care 206,941 147,661 0.4 0.3 Industrials 295,071 344,642 0.6 0.7 Information technology 52,519 41,960 0.1 0.1 Materials 397,034 421,327 0.8 0.9 Telecommunication services 192,791 142,322 0.4 0.3 Utilities 19,166 24,668 0.1 0.1 Total debt securities (cost: $4,114,371 and $3,803,751 as of September 30, 2015 and December 31, 2014, respectively) 4,001,477 3,910,706 8.4 8.4 Equity securities: Consumer discretionary 236,281 311,847 0.5 0.7 Consumer staples 147,642 59,628 0.3 0.1 Energy 592,233 92,416 1.2 0.2 Financials 6,880,097 4,760,386 14.5 10.2 Government — 635 — 0.0 Health care 79,703 52,887 0.2 0.1 Industrials 923,169 1,226,825 1.9 2.6 Information technology 1,270 1,190 0.0 0.0 Materials 477,052 398,559 1.0 0.9 Telecommunication services 4,193 — 0.0 — Utilities 186,754 — 0.4 — Total equity securities (cost: $7,772,869 and $5,884,950 as of September 30, 2015 and December 31, 2014, respectively) 9,528,394 6,904,373 20.0 14.8 Asia and other: Debt securities: Consumer discretionary 147,091 140,732 0.3 0.3 Consumer staples 19,071 7,927 0.0 0.0 Energy 185,931 217,299 0.4 0.5 Financials 20,807 18,935 0.0 0.0 Government 16,741 50,073 0.0 0.1 Health care 83,086 48,977 0.2 0.1 Industrials 271,597 420,323 0.6 0.9 Information technology 25,577 23,555 0.1 0.1 Materials 241,138 252,965 0.5 0.6 Telecommunication services 300 — 0.0 — Utilities 4,016 9,113 0.0 0.0 Total debt securities (cost: $1,086,894 and $1,168,453 as of September 30, 2015 and December 31, 2014, respectively) 1,015,355 1,189,899 2.1 2.6 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments: September 30, December 31, September 30, December 31, Asia and other: Equity securities: Consumer discretionary $ 515,922 $ 664,077 1.1 % 1.4 % Consumer staples 29,769 113,471 0.1 0.2 Energy 227,539 298,040 0.5 0.6 Financials 1,016,853 1,518,532 2.1 3.3 Health care 19,764 22,899 0.0 0.1 Industrials 1,024,929 937,455 2.2 2.0 Information technology 276,559 322,592 0.6 0.7 Materials 112,655 145,657 0.2 0.3 Telecommunication services 54,365 39,244 0.1 0.1 Utilities 153,094 169,384 0.3 0.4 Total equity securities (cost: $3,526,111 and $3,393,453 as of September 30, 2015 and December 31, 2014, respectively) 3,431,449 4,231,351 7.2 9.1 Total debt securities 18,869,721 17,985,596 39.6 38.7 Total equity securities 28,814,701 28,548,203 60.4 61.3 Total investments, at fair value $ 47,684,422 $ 46,533,799 100.0 % 100.0 % Securities Sold Short: Equity securities (proceeds: $126,292 and $70,760 as of September 30, 2015 and December 31, 2014, respectively) $ (115,463 ) $ (64,438 ) As of September 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 September 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 $ 351,272 $ (2,160,995 ) $ 445,304 $ (1,970,423 ) Foreign currency forward contracts (1) (60,419 ) 177,621 (12,035 ) 346,855 Total-return, credit-default and interest-rate swaps (1) 10,129 (387,399 ) (2,829 ) (22,726 ) Options and futures (1) 17,291 12,849 (1,507 ) 6,233 Swaptions (1)(2) (6 ) (65 ) (666 ) 1,325 Total $ 318,267 $ (2,357,989 ) $ 428,267 $ (1,638,736 ) Nine Months Ended September 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 $ 1,226,498 $ (2,622,650 ) $ 1,684,794 $ (470,724 ) Foreign currency forward contracts (1) 410,891 (141,443 ) (106,223 ) 342,592 Total-return, credit-default and interest-rate swaps (1) 2,955 (503,625 ) 41,086 (36,290 ) Options and futures (1) 13,314 (3,450 ) (22,395 ) 41 Swaptions (1)(2) (3,013 ) 2,277 (666 ) (3,987 ) Total $ 1,650,645 $ (3,268,891 ) $ 1,596,596 $ (168,368 ) (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	9 Months Ended
	Sep. 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 September 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) $ 656,120 $ — $ — $ 656,120 $ 655,529 $ — $ — $ 655,529 Corporate investments — 16,872 — 16,872 23,660 17,154 — 40,814 Forward currency contracts (2) — 10,335 — 10,335 — 24,499 — 24,499 Total assets $ 656,120 $ 27,207 $ — $ 683,327 $ 679,189 $ 41,653 $ — $ 720,842 Liabilities Contingent consideration (3) $ — $ — $ (29,178 ) $ (29,178 ) $ — $ — $ (27,245 ) $ (27,245 ) Forward currency contracts (3) — (3,051 ) — (3,051 ) — (3,439 ) — (3,439 ) Interest-rate swaps (3) — (1,854 ) — (1,854 ) — (2,317 ) — (2,317 ) Total liabilities $ — $ (4,905 ) $ (29,178 ) $ (34,083 ) $ — $ (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 relate 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 September 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 $ — $ 8,508,989 $ 1,816,861 $ 10,325,850 $ — $ 8,135,722 $ 1,555,656 $ 9,691,378 Corporate debt – all other 2,385 5,607,494 2,933,992 8,543,871 4,039 5,539,518 2,750,661 8,294,218 Equities – common stock 5,070,383 227,463 8,774,815 14,072,661 6,042,583 505,459 9,044,579 15,592,621 Equities – preferred stock 667 — 1,683,357 1,684,024 3,148 — 1,320,752 1,323,900 Real estate — — 9,935,730 9,935,730 — — 9,216,056 9,216,056 Real estate loan portfolios — — 3,117,556 3,117,556 — — 2,399,105 2,399,105 Other — — 4,730 4,730 945 — 15,576 16,521 Total investments 5,073,435 14,343,946 28,267,041 47,684,422 6,050,715 14,180,699 26,302,385 46,533,799 Derivatives: Forward currency contracts — 106,590 — 106,590 — 254,929 — 254,929 Swaps — 1,655 — 1,655 — 4,217 — 4,217 Options and futures 3,985 36,947 — 40,932 — 36,568 — 36,568 Swaptions — 46 — 46 — 483 — 483 Total derivatives 3,985 145,238 — 149,223 — 296,197 — 296,197 Total assets $ 5,077,420 $ 14,489,184 $ 28,267,041 $ 47,833,645 $ 6,050,715 $ 14,476,896 $ 26,302,385 $ 46,829,996 Liabilities Securities sold short: Equity securities $ (115,463 ) $ — $ — $ (115,463 ) $ (64,438 ) $ — $ — $ (64,438 ) Derivatives: Forward currency contracts — (46,079 ) — (46,079 ) — (54,663 ) — (54,663 ) Swaps — (669,941 ) (12,684 ) (682,625 ) — (172,672 ) (10,687 ) (183,359 ) Options and futures — (5,656 ) — (5,656 ) (11,051 ) (3,918 ) — (14,969 ) Swaptions — — — — — (518 ) — (518 ) Total derivatives — (721,676 ) (12,684 ) (734,360 ) (11,051 ) (231,771 ) (10,687 ) (253,509 ) Total liabilities $ (115,463 ) $ (721,676 ) $ (12,684 ) $ (849,823 ) $ (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 September 30, 2015: Beginning 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 Transfers into Level III 123,811 — 175,304 — 128,261 — — — 427,376 Transfers out of Level III (2,667 ) (136,524 ) (674,001 ) (109 ) — — — — (813,301 ) Purchases 329,452 244,669 90,460 50,818 361,312 513,272 — — 1,589,983 Sales (31,431 ) (84,072 ) (560,077 ) (5,192 ) (256,571 ) (188,245 ) — — (1,125,588 ) Realized gains (losses), net 12,070 359 186,815 1,658 99,539 66,345 — — 366,786 Unrealized appreciation (depreciation), net (13,651 ) (5,814 ) (146,695 ) (23,556 ) 30,287 (53,288 ) (4,040 ) 334 (216,423 ) Ending balance $ 1,816,861 $ 2,933,992 $ 8,774,815 $ 1,683,357 $ 9,935,730 $ 3,117,556 $ (12,684 ) $ 4,730 $ 28,254,357 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (6,205 ) $ (24,711 ) $ (286,881 ) $ 97,407 $ 105,450 $ (38,805 ) $ (4,039 ) $ 334 $ (157,450 ) Three Months Ended September 30, 2014: Beginning balance $ 1,944,391 $ 2,346,508 $ 8,334,621 $ 1,200,716 $ 8,020,570 $ 2,516,827 $ 836 $ 14,887 $ 24,379,356 Transfers into Level III 3,976 151,436 428,142 — 3,925 — — — 587,479 Transfers out of Level III (219,950 ) — (382,830 ) (76,821 ) (3,925 ) — — — (683,526 ) Purchases 484,567 222,089 1,547,303 73,276 453,157 48,822 — 1,000 2,830,214 Sales (128,806 ) (80,736 ) (160,046 ) (1,208 ) (690,580 ) (413,965 ) — (232 ) (1,475,573 ) Realized gains (losses), net 15,274 (31,977 ) 11,350 (893 ) 167,963 87,627 — (874 ) 248,470 Unrealized appreciation (depreciation), net (67,489 ) (49,653 ) (226,463 ) 44,324 (151,904 ) 58,587 3,257 1,006 (388,335 ) Ending balance $ 2,031,963 $ 2,557,667 $ 9,552,077 $ 1,239,394 $ 7,799,206 $ 2,297,898 $ 4,093 $ 15,787 $ 25,498,085 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (85,726 ) $ (7,465 ) $ (25,962 ) $ 83,015 $ (42,386 ) $ 58,587 $ 3,257 $ (99 ) $ (16,779 ) Corporate Debt – Bank Debt Corporate Debt – All Other Equities – Common Stock Equities – Preferred Stock Real Estate Real Estate Loan Portfolios Swaps Other Total Nine Months Ended September 30, 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 240,344 17,208 552,867 15,835 128,261 — — — 954,515 Transfers out of Level III (148,665 ) (246,608 ) (1,197,424 ) (32,692 ) — — — — (1,625,389 ) Purchases 554,203 811,132 1,284,587 255,946 1,310,886 1,119,187 — — 5,335,941 Sales (372,198 ) (247,423 ) (1,002,296 ) (60,139 ) (1,241,926 ) (491,632 ) — — (3,415,614 ) Realized gains (losses), net 37,477 (32,140 ) 120,689 39,042 578,596 164,973 — — 908,637 Unrealized appreciation (depreciation), net (49,956 ) (118,838 ) (40,187 ) 144,613 (56,143 ) (74,077 ) (1,997 ) 1,154 (195,431 ) Ending balance $ 1,816,861 $ 2,933,992 $ 8,774,815 $ 1,683,357 $ 9,935,730 $ 3,117,556 $ (12,684 ) $ 4,730 $ 28,254,357 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (23,824 ) $ (68,639 ) $ (72,798 ) $ 206,869 $ 197,926 $ (74,077 ) $ (1,996 ) $ 1,154 $ 164,615 Nine Months Ended September 30, 2014: Beginning balance $ 2,809,437 $ 2,432,179 $ 6,700,015 $ 919,771 $ 6,221,294 $ 2,369,441 $ — $ 13,708 $ 21,465,845 Transfers into Level III 816,797 313,982 852,824 — 132,502 — — — 2,116,105 Transfers out of Level III (1,768,697 ) (18,871 ) (876,178 ) (83,365 ) (94,821 ) — — — (2,841,932 ) Purchases 888,791 501,385 3,068,812 249,973 2,146,535 699,234 — 2,000 7,556,730 Sales (735,809 ) (689,974 ) (477,359 ) (69,486 ) (1,268,380 ) (1,064,002 ) — (232 ) (4,305,242 ) Realized gains (losses), net 120,750 87,061 76,760 (16,978 ) 264,088 145,066 — (874 ) 675,873 Unrealized appreciation (depreciation), net (99,306 ) (68,095 ) 207,203 239,479 397,988 148,159 4,093 1,185 830,706 Ending balance $ 2,031,963 $ 2,557,667 $ 9,552,077 $ 1,239,394 $ 7,799,206 $ 2,297,898 $ 4,093 $ 15,787 $ 25,498,085 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (44,291 ) $ 72,149 $ 533,070 $ 264,924 $ 556,131 $ 148,159 $ 4,093 $ 79 $ 1,534,314 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 nine months ended September 30, 2015, and for the three months ended September 30, 2014. Transfers between Level I and Level II positions for the nine months ended September 30, 2014 included $739.7 million from Level II to Level I due to the removal of discounts on three exchange-traded common equity investments upon the expiration of lockup periods and increased trading volume for one exchange-traded common equity investment. Transfers 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 September 30, 2015: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) Credit-oriented investments: Consumer discretionary: $ 261,456 Discounted cash flow (1) Discount rate 5% – 14% 12% 465,696 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 8x 6x 110,104 Recent transaction price (5) Not applicable Not applicable Not applicable 120,922 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Energy: 47,713 Recent market information (6) Quoted prices / discount Not applicable Not applicable Financials: 529,756 Discounted cash flow (1) Discount rate 6% – 14% 11% 247,235 Market approach (2)(4) Underlying asset multiple 1.1x – 1.5x 1.2x 250,237 Recent transaction price (5) Not applicable Not applicable Not applicable 177,634 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Industrials: 207,569 Discounted cash flow (1) Discount rate 5% – 15% 12% 55,679 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 11% – 13% 12% 7,658 Market approach (comparable companies) (2) Earnings multiple (3) 5x – 8x 7x 239,945 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 0.7x – 1.0x 0.9x 21,100 Recent transaction price (5) Not applicable Not applicable Not applicable 21,945 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Information technology: 182,868 Discounted cash flow (1) Discount rate 6% – 13% 12% 143,705 Market approach (comparable companies) (2) Earnings multiple (3) 6x – 8x 7x 61,856 Recent transaction price (5) Not applicable Not applicable Not applicable 71,245 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Materials: 454,015 Discounted cash flow (1) Discount rate 11% – 14% 13% 134,581 Market approach (comparable companies) (2) Earnings multiple (3) 7x – 8x 7x 7,198 Recent transaction price (5) Not applicable Not applicable Not applicable 5,969 Recent market information (6) Quoted prices / discount Not applicable Not applicable Other: 395,972 Discounted cash flow (1) Discount rate 5% – 14% 11% 23,013 Market approach (2) Earnings multiple (3) 6x – 8x 7x 169,003 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 178,480 Recent transaction price (5) Not applicable Not applicable Not applicable 145,615 Recent market information (6) Quoted prices / discount Not applicable Not applicable Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) Equity investments: Energy: $ 776,064 Market approach (2) Earnings multiple (3) 7x – 18x 15x 64,524 Recent transaction price (5) Not applicable Not applicable Not applicable 32,121 Recent market information (6) Quoted prices / discount Not applicable Not applicable 186,091 Other Not applicable Not applicable Not applicable Financials: 971,070 Market approach (2)(4) Underlying asset multiple 1x – 1.5x 1.3x 242,602 Recent transaction price (5) Not applicable Not applicable Not applicable 153,457 Recent market information (6) Quoted prices / discount Not applicable Not applicable Industrials: 37,130 Discounted cash flow (1) Discount rate 10% – 12% 11% 1,898,275 Market approach (2) Earnings multiple (3) 5x – 11x 8x 1,451,622 Market approach (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 277,231 Recent transaction price (5) Not applicable Not applicable Not applicable 181,107 Recent market information (6) Quoted prices / discount Not applicable Not applicable Materials: 1,255,972 Market approach (comparable companies) (2) Earnings multiple (3) 7x – 9x 8x 25,133 Recent transaction price (5) Not applicable Not applicable Not applicable Other: 2,260,092 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 12x 8x 222,512 Recent transaction price (5) Not applicable Not applicable Not applicable 152,080 Recent market information (6) Quoted prices / discount Not applicable Not applicable 271,089 Other Not applicable Not applicable Not applicable Real estate-oriented investments: 4,113,712 Discounted cash flow (1)(7) Discount rate 6% – 44% 12% Terminal capitalization rate 5% – 10% 7% Direct capitalization rate 5% – 10% 7% Net operating income growth rate 0% – 50% 11% Absorption rate 21% – 50% 37% 106,006 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 6% – 8% 7% 217,427 Market approach (comparable companies) (2) Earnings multiple (3) 10x – 13x 13x 954,208 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 1x – 1.8x 1.6x 578,071 Recent transaction price (5) Not applicable Not applicable Not applicable 96,816 Recent market information (6) / Market approach (comparable companies) (2) Quoted prices / discount (discount not applicable) / Earnings multiple (3) 10x – 12x 11x 2,383,897 Recent market information (6) Quoted prices / discount 0% – 6% 4% 1,410,002 Sales approach (8) Market transactions Not applicable Not applicable 75,591 Other Not applicable Not applicable Not applicable Real estate loan portfolios: 2,209,112 Discounted cash flow (1)(7) Discount rate 8% – 20% 13% 908,444 Recent transaction price (5) Not applicable Not applicable Not applicable Other 4,730 Total Level III investments $ 28,254,357 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 nine months ended September 30, 2015, the valuation technique for ten Level III investments changed, as follows: (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 equity 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, (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, (f) one credit-oriented investment changed from a valuation based on recent market information to a discounted cash flow technique due to decreased availability of broker quotations, and (g) one credit-oriented investment, comprised of ten underlying loans, changed from a valuation technique that used both a discounted cash flow and sales approach to a market approach based on the value of underlying assets as a result of an increased focus on the value of the assets collateralizing the loans. During the nine months ended September 30, 2014, the valuation technique for five Level III investments changed, as follows: (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, (b) one real estate-oriented investment changed from a valuation based on recent market information to a market approach based on comparable companies as a result of a lack of recent market transaction data, and (c) 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	9 Months Ended
	Sep. 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 September 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 $157.5 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 $326.3 million and $348.8 million as of September 30, 2015 and December 31, 2014, respectively, expire through January 2017. As of September 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 third parties, net of $6.0 million in debt issuance costs. Please see note 7 for more information regarding the debt obligations of CLOs. Freestanding derivatives are financial 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 financial instruments may include foreign currency exchange contracts, interest-rate swaps and other derivative contracts. The fair value of forward currency sell contracts consisted of the following: As of September 30, 2015: Contract Amount in Local Currency Contract Amount in U.S. Dollars Market Value in U.S. Dollars Net Unrealized Appreciation (Depreciation) Euro, expiring 10/8/15-10/7/16 226,700 $ 261,218 $ 254,008 $ 7,210 USD (buy GBP), expiring 10/30/15-7/29/16 81,550 81,550 82,250 (700 ) Japanese Yen, expiring 12/30/15-9/30/16 6,884,500 58,381 57,607 774 Total $ 401,149 $ 393,865 $ 7,284 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 September 30, Nine Months Ended Foreign Currency Forward Contracts: 2015 2014 2015 2014 General and administrative expenses (1) $ (4,452 ) $ 17,231 $ 18,389 $ 18,325 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 in expenses) reflected in consolidated general and administrative expenses. As of both September 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 nine months ended September 30, 2015 were $5.3 billion long and $342.2 million short, and $3.0 billion long and $17.3 million short. The impact of derivative instruments held by the consolidated funds in the condensed consolidated statements of operations was as follows: Three Months Ended September 30, 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 $ (60,419 ) $ 177,621 $ (12,035 ) $ 346,855 Total-return, credit-default and interest-rate swaps 10,129 (387,399 ) (2,829 ) (22,726 ) Options and futures 17,291 12,849 (1,507 ) 6,233 Swaptions (6 ) (65 ) (666 ) 1,325 Total $ (33,005 ) $ (196,994 ) $ (17,037 ) $ 331,687 Nine Months Ended September 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 $ 410,891 $ (141,443 ) $ (106,223 ) $ 342,592 Total-return, credit-default and interest-rate swaps 2,955 (503,625 ) 41,086 (36,290 ) Options and futures 13,314 (3,450 ) (22,395 ) 41 Swaptions (3,013 ) 2,277 (666 ) (3,987 ) Total $ 424,147 $ (646,241 ) $ (88,198 ) $ 302,356 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 management has elected not to offset in the condensed consolidated statements of financial condition even though they are eligible to be offset in accordance with applicable accounting guidance. Gross Amounts of Assets (Liabilities) Gross Amounts Offset in Assets (Liabilities) Net Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of September 30, 2015 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign currency forward contracts $ 10,335 $ — $ 10,335 $ 4,900 $ — $ 5,435 Derivative assets of consolidated funds: Foreign currency forward contracts 106,590 — 106,590 12,234 — 94,356 Total-return, credit-default and interest-rate swaps 1,655 — 1,655 129 — 1,526 Options and futures 40,932 — 40,932 17,949 — 22,983 Swaptions 46 — 46 46 — — Subtotal 149,223 — 149,223 30,358 — 118,865 Total $ 159,558 $ — $ 159,558 $ 35,258 $ — $ 124,300 Derivative Liabilities: Foreign currency forward contracts $ (3,051 ) $ — $ (3,051 ) $ (3,046 ) $ — $ (5 ) Interest-rate swaps (1,854 ) — (1,854 ) (1,854 ) — — Subtotal (4,905 ) — (4,905 ) (4,900 ) — (5 ) Derivative liabilities of consolidated funds: Foreign currency forward contracts (46,079 ) — (46,079 ) (21,668 ) (7,323 ) (17,088 ) Total-return, credit-default and interest-rate swaps (682,625 ) — (682,625 ) (153,944 ) (504,086 ) (24,595 ) Options and futures (5,656 ) — (5,656 ) (5,621 ) (35 ) — Subtotal (734,360 ) — (734,360 ) (181,233 ) (511,444 ) (41,683 ) Total $ (739,265 ) $ — $ (739,265 ) $ (186,133 ) $ (511,444 ) $ (41,688 ) 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	9 Months Ended
	Sep. 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 September 30, 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 September 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 September 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 $874.5 million and $895.9 million as of September 30, 2015 and December 31, 2014, respectively, utilizing an average borrowing rate of 3.4% and 3.2% , respectively. As of September 30, 2015, a 10% increase in the assumed average borrowing rate would lower the estimated fair value to $859.3 million , whereas a 10% decrease would increase the estimated fair value to $890.3 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 September 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 $3.5 billion and $2.8 billion as of September 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) September 30, 2015 December 31, 2014 Credit facility (3) $ 434,000 $ 434,000 $ 434,000 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) 499,627 499,322 $ 500,000 1.20% 4/20/2023 N/A N/A Senior variable rate notes (3) 402,457 402,422 $ 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) 84,662 84,399 $ 86,000 2.10% 8/15/2025 N/A N/A Credit facility (3)(4) 240,000 — $ 325,000 1.25% 4/11/2017 N/A N/A Senior variable rate notes (3) 332,762 332,706 $ 333,000 1.56% 11/15/2025 N/A N/A Senior variable rate notes (3) 76,870 76,648 $ 78,000 2.30% 11/15/2025 N/A N/A Senior variable rate notes (3) 39,202 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) 64,825 — $ 65,000 2.30% 2/15/2026 N/A N/A Senior variable rate notes (3) 36,973 — $ 37,500 3.10% 2/15/2026 N/A N/A Revolving credit facility 59,846 50,054 $ 400,000 3.05% 8/13/2016 0.25% 2.00% Revolving credit facility — 500,000 $ 500,000 1.60% 6/26/2015 0.25% N/A Revolving credit facility 951,366 — $ 1,400,000 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 81,491 — $ 110,000 2.00% 11/4/2016 0.30% 2.00% Revolving credit facility — — $ 50,000 1.50% 1/30/2017 0.25% 1.50% Euro-denominated revolving credit facility 590,803 650,725 € 550,000 1.65% 2/25/2016 0.25% 1.65% Euro-denominated revolving credit facility — — € 300,000 2.35% 2/27/2017 0.50% 2.35% Euro-denominated revolving credit facility 93,430 97,925 € 100,000 1.95% 2/2/2016 0.40% 1.95% Revolving credit facility — 146,000 $ 221,000 1.65% 9/30/2015 0.25% N/A Revolving credit facility 434,904 201,739 $ 500,000 1.60% 1/16/2017 0.25% 1.60% Revolving credit facility 49,905 56,697 $ 61,000 2.95% 3/15/2019 N/A N/A Revolving credit facility 72,688 88,000 $ 72,688 2.75% 12/16/2018 1.00% N/A Revolving credit facility 8,000 2,000 $ 35,000 1.50% 12/11/2015 0.20% N/A Revolving credit facility 242,661 93,943 $ 350,000 1.60% 9/8/2016 0.25% 2.00% Credit facility (5) 59,996 — $ 59,996 4.50% 3/21/2018 N/A N/A Revolving credit facility 100,800 — $ 400,000 1.45% 7/14/2017 0.25% 1.45% Euro-denominated revolving credit facility 16,743 — € 95,000 2.25% 9/1/2017 0.50% N/A Revolving credit facility 33,151 — $ 40,000 2.25% 3/4/2016 0.30% 1.75% Credit facility (5)(6) 179,699 214,423 $ 179,699 1.99% Various N/A N/A $ 6,228,361 $ 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 September 30, 2015 and December 31, 2014, outstanding standby letters of credit totaled $451,254 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 November 11, 2015, and 2.50% thereafter. (5) The credit facility is collateralized by specific investments of the fund. (6) Of the total balance outstanding, $28.2 million matures in February 2016 and $151.5 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 September 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) $ 457,054 $ 454,500 2.33% 9.5 $ 456,567 $ 449,167 2.25% 10.3 Senior secured notes (3) 454,269 452,769 2.49% 11.2 453,821 454,274 2.43% 12.0 Senior secured notes (4) 97,603 96,681 2.68% 3.3 85,776 85,468 2.61% 4.0 Senior secured notes (5) 373,706 370,102 2.26% 12.0 405,018 402,649 2.32% 12.7 Senior secured notes (6) 455,175 452,710 2.54% 12.2 — — — — Senior secured notes (7) 370,984 372,555 2.46% 12.6 — — — — Subordinated note (8) 25,500 19,190 N/A 11.2 25,500 25,500 N/A 12.0 Subordinated note (8) 21,627 14,222 N/A 12.0 23,596 23,596 N/A 12.7 Subordinated note (8) 25,500 19,876 N/A 12.2 — — — — Subordinated note (8) 18,418 12,281 N/A 12.6 — — — — Subordinated note (9) 6,637 6,637 N/A 1.8 — — — — Term loan (10) 44,799 44,799 1.20% 1.8 — — — — Term loan — — — — 151,257 151,257 1.24% 1.8 $ 2,351,272 $ 2,316,322 $ 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 certain 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 LIBOR plus 2.10% . (7) The weighted average interest rate is based on EURIBOR plus 2.46% . (8) The subordinated notes do not have a contractual interest rate; instead, they receive distributions from the excess cash flows generated by the CLO. (9) This represents a subordinated credit facility with a total capacity of €25 million as of September 30, 2015. The facility does not have a contractual interest rate; instead, this facility receives distributions from the excess cash flows generated by the CLO. (10) The term loan had a total facility capacity of €150 million as of September 30, 2015. The interest rate is based on EURIBOR plus 1.20% . The unused commitment fee was 0.30% . The debt obligations of 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 September 30, 2015, the fair value of CLO assets was $2.9 billion and consisted of cash, corporate loans, corporate bonds and other securities. Future scheduled principal payments with respect to the debt obligations of CLOs as of September 30, 2015 were as follows: Remainder of 2015 $ — 2016 51,436 2017 — 2018 97,603 2019 — Thereafter 2,202,233 Total $ 2,351,272

NON-CONTROLLING REDEEMABLE INTE

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS	9 Months Ended
	Sep. 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. Nine Months Ended September 30, 2015 2014 Beginning balance $ 41,681,155 $ 38,834,831 Contributions 4,654,438 7,250,262 Distributions (4,595,694 ) (5,971,132 ) Net income (1,037,265 ) 1,842,779 Change in distributions payable 566,609 (944 ) Change in accrued or deferred contributions 13,467 (7,000 ) Initial consolidation of a fund — 902,979 Foreign currency translation and other (341,899 ) (388,447 ) Ending balance $ 40,940,811 $ 42,463,328

UNITHOLDERS' CAPITAL

UNITHOLDERS' CAPITAL	9 Months Ended
	Sep. 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 the 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 September 30, 2015 and December 31, 2014, respectively, OCGH units represented 105,317,704 of the total 153,989,363 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 $1,598,395 and $1,640,594 as of September 30, 2015 and December 31, 2014, respectively, the OCGH non-controlling interest was $1,093,184 and $1,170,893 . As of September 30, 2015 and December 31, 2014, non-controlling interests attributable to certain related parties and third parties were $99,959 and $95,068 , respectively. The following table sets forth a summary of the net income attributable to the OCGH non-controlling interest and to the Class A unitholders: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Weighted average Oaktree Operating Group units outstanding (in thousands): OCGH non-controlling interest 105,505 109,329 106,372 110,362 Class A unitholders 48,440 43,480 47,304 42,234 Total weighted average units outstanding 153,945 152,809 153,676 152,596 Oaktree Operating Group net income: Net income attributable to OCGH non-controlling interest $ 5,868 $ 64,683 $ 168,874 $ 320,054 Net income attributable to Class A unitholders 2,694 25,725 72,882 119,957 Oaktree Operating Group net income (1) $ 8,562 $ 90,408 $ 241,756 $ 440,011 Net income attributable to Oaktree Capital Group, LLC: Oaktree Operating Group net income attributable to Class A unitholders $ 2,694 $ 25,725 $ 72,882 $ 119,957 Non-Operating Group expenses (464 ) (264 ) (1,424 ) (1,149 ) Income tax expense of Intermediate Holding Companies (343 ) (6,548 ) (11,504 ) (16,915 ) Net income attributable to Oaktree Capital Group, LLC $ 1,887 $ 18,913 $ 59,954 $ 101,893 (1) Oaktree Operating Group net income does not reflect amounts attributable to other non-controlling interests, which amounted to $4,899 and $5,503 for the three and nine months ended September 30, 2015, and $2,868 for both the three and nine months ended September 30, 2014. The change in the Company’s ownership interest in the Oaktree Operating Group is set forth below: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 1,887 $ 18,913 $ 59,954 $ 101,893 Equity reallocation between controlling and non-controlling interests 2,496 (391 ) 47,698 48,725 Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests $ 4,383 $ 18,522 $ 107,652 $ 150,618 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	9 Months Ended
	Sep. 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 Nine Months Ended 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 $ 1,887 $ 18,913 $ 59,954 $ 101,893 Weighted average number of Class A units outstanding (basic and diluted) 48,440 43,480 47,304 42,234 Basic and diluted net income per Class A unit $ 0.04 $ 0.43 $ 1.27 $ 2.41 Vested OCGH units may be exchangeable on a one-for-one basis into Class A units, subject to certain restrictions. As of September 30, 2015, there were 105,317,704 OCGH units outstanding, which are vested or will vest through March 1, 2025, that may ultimately be exchanged into 105,317,704 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 nine months ended September 30, 2015 and 2014. In connection with the 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 September 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 nine months ended September 30, 2015. Please see note 13 for more information regarding the contingent consideration liability.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2015
Share-based Compensation [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION Restricted Unit Awards During the nine months ended September 30, 2015, the Company granted 1,175,213 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 nine months ended September 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 September 30, 2015, the Company expected to recognize compensation expense on its unvested equity-based awards of $148.4 million over a weighted average recognition period of 4.5 years. A summary of the status of the Company’s unvested equity-based awards as of September 30, 2015 and a summary of changes for the nine months then ended are presented below (actual dollars per unit): Class A Units OCGH Units Number of Units Weighted Average Grant Date Fair Value Number of Units Weighted Average Grant Date Fair Value Balance, December 31, 2014 19,049 $ 50.63 5,070,992 $ 36.21 Granted 7,940 55.75 1,175,213 44.04 Vested (5,688 ) 49.14 (1,385,577 ) 32.36 Forfeited — — (110,359 ) 36.41 Balance, September 30, 2015 21,301 $ 52.94 4,750,269 $ 39.27 As of September 30, 2015, unvested units were expected to vest as follows: Number of Units Weighted Average Remaining Service Term (Years) Class A units 21,301 2.6 OCGH units 4,750,269 4.5 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 September 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 September 30, 2015, the Company expected to recognize $11.3 million of compensation expense on its unvested EVUs over the next 4.3 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	9 Months Ended
	Sep. 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 September 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 statements; 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 nine months ended September 30, 2015.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 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 financial statements. 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 September 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 $1,712,082 and $1,915,107 , respectively, for which related direct incentive income compensation expense was estimated to be $832,997 and $930,572 , respectively. Contingent Consideration The Company has a contingent consideration obligation of up to $60.0 million related to the Highstar acquisition, payable in cash and fully-vested OCGH units. The amount of contingent consideration is based on the achievement of certain performance targets over a period of up to seven years from the acquisition date. As of September 30, 2015, the fair value of the contingent consideration liability was $29.2 million , based on a discount rate of 10% . For the three and nine months ended September 30, 2015, respectively, the Company recognized expenses of $0.4 million and $1.9 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 September 30, 2015 and December 31, 2014, the Company, generally in its capacity as general partner, had undrawn capital commitments of $436.6 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 September 30, 2015 and December 31, 2014, the consolidated funds had aggregate potential credit and investment commitments of $1,492.2 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 guarantee the repayment obligations of certain investee companies. The aggregate amounts guaranteed were not material to the condensed consolidated financial statements as of September 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 nine months ended September 30, 2015, the consolidated funds provided financial support to portfolio companies totaling $344.4 million and $4.0 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	9 Months Ended
	Sep. 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 $171,401 and $159,264 as of September 30, 2015 and December 31, 2014, respectively, based on a discount rate of 10.0% . As of September 30, 2015 December 31, 2014 Due from affiliates: Loans $ 30,092 $ 39,452 Amounts due from non-consolidated funds 2,312 2,525 Payments made on behalf of non-consolidated entities 3,787 3,221 Non-interest bearing advances made to certain non-controlling interest holders and employees 1,615 1,683 Total due from affiliates $ 37,806 $ 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 — 739 Total due to affiliates $ 370,949 $ 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 $1,862 and $1,163 for the nine months ended September 30, 2015 and 2014, respectively. Due From Oaktree Funds and Portfolio Companies In the normal course of business, the Company advances certain expenses on behalf of Oaktree funds. 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	9 Months Ended
	Sep. 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 classified as expenses for segment reporting and as other income under GAAP. In addition, ANI excludes the effect of (a) non-cash equity-based compensation expense 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 September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Revenues: Management fees $ 181,897 $ 194,509 $ 555,505 $ 572,028 Incentive income 16,925 86,324 230,952 438,398 Investment income (loss) (19,950 ) (2,361 ) 56,873 98,318 Total revenues 178,872 278,472 843,330 1,108,744 Expenses: Compensation and benefits (96,675 ) (99,402 ) (306,290 ) (290,234 ) Equity-based compensation (8,836 ) (5,185 ) (27,760 ) (14,279 ) Incentive income compensation (7,596 ) (39,814 ) (127,252 ) (207,789 ) General and administrative (33,704 ) (29,687 ) (84,026 ) (91,380 ) Depreciation and amortization (3,031 ) (1,914 ) (7,027 ) (5,650 ) Total expenses (149,842 ) (176,002 ) (552,355 ) (609,332 ) Adjusted net income before interest and other income (expense) 29,030 102,470 290,975 499,412 Interest expense, net of interest income (1) (8,388 ) (7,419 ) (26,103 ) (20,978 ) Other income (expense), net — 10 (3,546 ) (1,679 ) Adjusted net income $ 20,642 $ 95,061 $ 261,326 $ 476,755 (1) Interest income was $1.7 million and $0.9 million for the three months ended September 30, 2015 and 2014, respectively, and $3.9 million and $2.7 million for the nine months ended September 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 Nine Months Ended 2015 2014 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 1,887 $ 18,913 $ 59,954 $ 101,893 Incentive income (1) 8,676 (3,234 ) 20,249 55,124 Incentive income compensation (1) (2,689 ) 3,234 (20,242 ) (36,988 ) Equity-based compensation (2) 3,658 5,372 12,523 15,947 Acquisition-related items (3) 1,433 488 4,935 488 Income taxes (4) 1,893 5,341 15,253 19,088 Non-Operating Group expenses (5) 464 264 1,424 1,149 Non-controlling interests (5) 5,320 64,683 167,230 320,054 Adjusted net income $ 20,642 $ 95,061 $ 261,326 $ 476,755 (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 expense 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 September 30, 2015 Segment Adjustments Consolidated Management fees (1) $ 181,897 $ (134,791 ) $ 47,106 Incentive income (1) 16,925 (13,540 ) 3,385 Investment income (loss) (1) (19,950 ) 30,292 10,342 Total expenses (2) (149,842 ) (40,676 ) (190,518 ) Interest expense, net (3) (8,388 ) (47,635 ) (56,023 ) Other income, net (4) — 6,368 6,368 Other income (loss) of consolidated funds (5) — (1,585,338 ) (1,585,338 ) Income taxes — (1,893 ) (1,893 ) Net loss attributable to non-controlling interests in consolidated funds — 1,779,225 1,779,225 Net income attributable to non-controlling interests in consolidated subsidiaries — (10,767 ) (10,767 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 20,642 $ (18,755 ) $ 1,887 Corporate investments (6) $ 1,465,195 $ (1,291,621 ) $ 173,574 Total assets (7) $ 3,232,960 $ 51,625,091 $ 54,858,051 (1) The adjustment represents the elimination of amounts earned from the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation expense of $3,874 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $31,400 , (c) expenses incurred by the Intermediate Holding Companies of $491 , (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 $2,689 , (e) acquisition-related items of $1,433 , (f) adjustments of $6,368 related to amounts received for contractually reimbursable costs that are classified as expenses for segment reporting and as other income under GAAP, (g) differences of $217 arising from EVUs that are classified as liability awards under GAAP, but classified as equity awards for segment reporting purposes, 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 classified as expenses for segment reporting and as other income under GAAP. (5) The adjustment to other income (loss) 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. The $1.5 billion of corporate investments included $1.3 billion of equity-method investments. (7) The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable. As of or for the Three Months Ended September 30, 2014 Segment Adjustments Consolidated Management fees (1) $ 194,509 $ (140,266 ) $ 54,243 Incentive income (1) 86,324 (86,324 ) — Investment income (loss) (1) (2,361 ) 8,129 5,768 Total expenses (2) (176,002 ) (76,399 ) (252,401 ) Interest expense, net (3) (7,419 ) (27,145 ) (34,564 ) Other income, net (4) 10 2,685 2,695 Other income (loss) of consolidated funds (5) — (349,360 ) (349,360 ) Income taxes — (5,341 ) (5,341 ) Net loss attributable to non-controlling interests in consolidated funds — 665,424 665,424 Net income attributable to non-controlling interests in consolidated subsidiaries — (67,551 ) (67,551 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 95,061 $ (76,148 ) $ 18,913 Corporate investments (6) $ 1,465,211 $ (1,324,475 ) $ 140,736 Total assets (7) $ 3,245,514 $ 49,401,937 $ 52,647,451 (1) The adjustment represents the elimination of amounts attributable to the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation expense of $5,372 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $64,356 , (c) expenses incurred by the Intermediate Holding Companies of $264 , (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $3,234 , (e) acquisition-related items of $488 and (f) adjustments of $2,685 related to amounts received for contractually reimbursable costs that are classified as expenses for segment reporting and as other income under GAAP. (3) The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income. (4) The adjustment to other income, net represents adjustments related to amounts received for contractually reimbursable costs that are classified as expenses for segment reporting and as other income under GAAP. (5) The adjustment to other income (loss) 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 consolidated funds, including investments in its CLOs, that are treated as equity- or cost-method investments for segment reporting. The $1.5 billion of corporate investments included $1.3 billion of equity-method investments. (7) The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable. As of or for the Nine Months Ended September 30, 2015 Segment Adjustments Consolidated Management fees (1) $ 555,505 $ (406,657 ) $ 148,848 Incentive income (1) 230,952 (227,003 ) 3,949 Investment income (1) 56,873 (18,155 ) 38,718 Total expenses (2) (552,355 ) (120,066 ) (672,421 ) Interest expense, net (3) (26,103 ) (129,231 ) (155,334 ) Other income (expense), net (4) (3,546 ) 17,471 13,925 Other income (loss) of consolidated funds (5) — (162,622 ) (162,622 ) Income taxes — (15,253 ) (15,253 ) Net loss attributable to non-controlling interests in consolidated funds — 1,034,521 1,034,521 Net income attributable to non-controlling interests in consolidated subsidiaries — (174,377 ) (174,377 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 261,326 $ (201,372 ) $ 59,954 Corporate investments (6) $ 1,465,195 $ (1,291,621 ) $ 173,574 Total assets (7) $ 3,232,960 $ 51,625,091 $ 54,858,051 (1) The adjustment represents the elimination of amounts earned from the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation expense of $12,479 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $103,831 , (c) expenses incurred by the Intermediate Holding Companies of $1,477 , (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 $20,242 , (e) acquisition-related items of $4,935 , (f) adjustments of $17,471 related to amounts received for contractually reimbursable costs that are classified as expenses for segment reporting and as other income under GAAP, (g) differences of $44 arising from EVUs that are classified as liability awards under GAAP, but classified as equity awards for segment reporting purposes, and (h) other expenses of $71 . (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 classified as expenses for segment reporting and as other income under GAAP. (5) The adjustment to other income (loss) 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. The $1.5 billion of corporate investments included $1.3 billion of equity-method investments. (7) The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable. As of or for the Nine Months Ended September 30, 2014 Segment Adjustments Consolidated Management fees (1) $ 572,028 $ (425,794 ) $ 146,234 Incentive income (1) 438,398 (438,398 ) — Investment income (1) 98,318 (83,169 ) 15,149 Total expenses (2) (609,332 ) (116,773 ) (726,105 ) Interest expense, net (3) (20,978 ) (63,285 ) (84,263 ) Other income (expense), net (4) (1,679 ) 2,685 1,006 Other income of consolidated funds (5) — 2,935,534 2,935,534 Income taxes — (19,088 ) (19,088 ) Net income attributable to non-controlling interests in consolidated funds — (1,843,652 ) (1,843,652 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (322,922 ) (322,922 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 476,755 $ (374,862 ) $ 101,893 Corporate investments (6) $ 1,465,211 $ (1,324,475 ) $ 140,736 Total assets (7) $ 3,245,514 $ 49,401,937 $ 52,647,451 (1) The adjustment represents the elimination of amounts attributable to the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation expense of $15,947 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $133,492 , (c) expenses incurred by the Intermediate Holding Companies of $1,149 , (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $36,988 , (e) acquisition-related items of $488 and (f) adjustments of $2,685 related to amounts received for contractually reimbursable costs that are classified as expenses for segment reporting and as other income under GAAP. (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 classified as expenses for segment reporting and 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 consolidated funds, including investments in its CLOs, that are treated as equity- or cost-method investments for segment reporting. The $1.5 billion of corporate investments included $1.3 billion of equity-method investments. (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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On October 29, 2015, the Company declared a distribution of $0.40 per Class A unit. This distribution, which is related to the third quarter of 2015, will be paid on November 12, 2015 to Class A unitholders of record as of the close of business on November 9, 2015.

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 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 for which it has a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. As of September 30, 2015, consolidated entities 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 general partner and is deemed to exercise control through a voting interest model.
Variable Interest Model	Variable Interest Model. The Company consolidates VIEs for which it is considered the primary beneficiary. An entity is determined to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity’s business and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The consolidation model for VIEs, which was revised effective January 1, 2010, requires an analysis to determine (a) whether an entity in which the Company holds a variable interest is a VIE and (b) whether the Company’s involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance-related fees), would give it a controlling financial interest. The consolidation model for VIEs may be deferred if the VIE and the reporting entity’s interest in the VIE meet the deferral conditions set forth in Accounting Standards Codification (“ASC”) 810-10-65-2(aa). If a VIE has met the deferral conditions, the analysis is based on the consolidation model for VIEs prior to January 1, 2010, which requires an analysis to determine (a) whether an entity in which the Company holds a variable interest is a VIE and (b) whether the Company’s involvement through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance-related fees) would be expected to absorb a majority of the variability of the entity. Under either model, the Company determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion at each reporting date. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly by the Company or indirectly through related parties. The consolidation analysis can generally be performed qualitatively; however, if it is not readily apparent that the Company is not the primary beneficiary, a quantitative analysis may also be performed. Investments and redemptions (either by the Company, affiliates of the Company or third parties) or amendments to the governing documents of the respective Oaktree funds could affect an entity’s status as a VIE or the determination of the primary beneficiary. While the Company holds variable interests in the Oaktree funds, most of those funds do not meet the characteristics of a VIE. As of September 30, 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. Two of the CLOs had not priced as of September 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 September 30, 2015 and December 31, 2014. As of September 30, 2015, the Company consolidated seven CLOs with total assets and liabilities of $2.9 billion and $2.6 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 are 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 September 30, 2015, the Company had invested an aggregate $161.5 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 intercompany transactions, including 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. 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 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 hierarchical 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 ongoing monitoring and back-testing, the Company performs due diligence procedures surrounding 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 amended its consolidation guidance to end the deferral granted to investment companies with respect to applying the VIE guidance. The new guidance does not affect 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 is currently evaluating the effect that adoption will have on its condensed consolidated financial statements. The adoption is expected to significantly reduce the number of funds consolidated by the Company, and therefore reduce the Company’s total assets, total liabilities and non-controlling redeemable interests in consolidated funds. The Company does not expect there to be an impact on net income attributable to the Company. 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. 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)	9 Months Ended
	Sep. 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: September 30, 2015 December 31, September 30, December 31, United States: Debt securities: Consumer discretionary $ 3,546,268 $ 3,173,576 7.5 % 6.8 % Consumer staples 777,634 692,890 1.6 1.5 Energy 1,090,688 1,028,317 2.3 2.2 Financials 1,240,338 805,337 2.6 1.7 Government 99,488 140,053 0.2 0.3 Health care 1,241,130 1,010,462 2.6 2.2 Industrials 1,873,095 1,795,909 4.0 3.9 Information technology 1,347,062 1,167,635 2.8 2.5 Materials 1,541,824 1,288,947 3.2 2.8 Telecommunication services 460,620 372,457 1.0 0.8 Utilities 634,742 1,409,408 1.3 3.0 Total debt securities (cost: $15,653,664 and $13,611,109 as of September 30, 2015 and December 31, 2014, respectively) 13,852,889 12,884,991 29.1 27.7 Equity securities: Consumer discretionary 1,866,174 2,475,318 3.9 5.3 Consumer staples 841,227 530,305 1.8 1.1 Energy 1,870,280 1,756,480 3.9 3.8 Financials 7,783,473 7,720,904 16.3 16.6 Health care 222,636 224,705 0.5 0.5 Industrials 1,979,349 2,970,356 4.2 6.4 Information technology 66,806 176,097 0.1 0.4 Materials 968,383 1,207,523 2.0 2.6 Telecommunication services 17,535 21,616 0.0 0.0 Utilities 238,995 329,175 0.5 0.7 Total equity securities (cost: $13,688,157 and $13,911,333 as of September 30, 2015 and December 31, 2014, respectively) 15,854,858 17,412,479 33.2 37.4 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments: September 30, December 31, September 30, December 31, Europe: Debt securities: Consumer discretionary $ 1,396,935 $ 1,371,689 3.0 % 3.0 % Consumer staples 245,375 242,513 0.5 0.5 Energy 301,274 370,456 0.6 0.8 Financials 854,247 803,468 1.8 1.7 Government 40,124 — 0.1 — Health care 206,941 147,661 0.4 0.3 Industrials 295,071 344,642 0.6 0.7 Information technology 52,519 41,960 0.1 0.1 Materials 397,034 421,327 0.8 0.9 Telecommunication services 192,791 142,322 0.4 0.3 Utilities 19,166 24,668 0.1 0.1 Total debt securities (cost: $4,114,371 and $3,803,751 as of September 30, 2015 and December 31, 2014, respectively) 4,001,477 3,910,706 8.4 8.4 Equity securities: Consumer discretionary 236,281 311,847 0.5 0.7 Consumer staples 147,642 59,628 0.3 0.1 Energy 592,233 92,416 1.2 0.2 Financials 6,880,097 4,760,386 14.5 10.2 Government — 635 — 0.0 Health care 79,703 52,887 0.2 0.1 Industrials 923,169 1,226,825 1.9 2.6 Information technology 1,270 1,190 0.0 0.0 Materials 477,052 398,559 1.0 0.9 Telecommunication services 4,193 — 0.0 — Utilities 186,754 — 0.4 — Total equity securities (cost: $7,772,869 and $5,884,950 as of September 30, 2015 and December 31, 2014, respectively) 9,528,394 6,904,373 20.0 14.8 Asia and other: Debt securities: Consumer discretionary 147,091 140,732 0.3 0.3 Consumer staples 19,071 7,927 0.0 0.0 Energy 185,931 217,299 0.4 0.5 Financials 20,807 18,935 0.0 0.0 Government 16,741 50,073 0.0 0.1 Health care 83,086 48,977 0.2 0.1 Industrials 271,597 420,323 0.6 0.9 Information technology 25,577 23,555 0.1 0.1 Materials 241,138 252,965 0.5 0.6 Telecommunication services 300 — 0.0 — Utilities 4,016 9,113 0.0 0.0 Total debt securities (cost: $1,086,894 and $1,168,453 as of September 30, 2015 and December 31, 2014, respectively) 1,015,355 1,189,899 2.1 2.6 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments: September 30, December 31, September 30, December 31, Asia and other: Equity securities: Consumer discretionary $ 515,922 $ 664,077 1.1 % 1.4 % Consumer staples 29,769 113,471 0.1 0.2 Energy 227,539 298,040 0.5 0.6 Financials 1,016,853 1,518,532 2.1 3.3 Health care 19,764 22,899 0.0 0.1 Industrials 1,024,929 937,455 2.2 2.0 Information technology 276,559 322,592 0.6 0.7 Materials 112,655 145,657 0.2 0.3 Telecommunication services 54,365 39,244 0.1 0.1 Utilities 153,094 169,384 0.3 0.4 Total equity securities (cost: $3,526,111 and $3,393,453 as of September 30, 2015 and December 31, 2014, respectively) 3,431,449 4,231,351 7.2 9.1 Total debt securities 18,869,721 17,985,596 39.6 38.7 Total equity securities 28,814,701 28,548,203 60.4 61.3 Total investments, at fair value $ 47,684,422 $ 46,533,799 100.0 % 100.0 % Securities Sold Short: Equity securities (proceeds: $126,292 and $70,760 as of September 30, 2015 and December 31, 2014, respectively) $ (115,463 ) $ (64,438 )
Net Gains (Losses) from Investment Activities of Consolidated Funds	The following table summarizes net gains (losses) from investment activities: Three Months Ended September 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 $ 351,272 $ (2,160,995 ) $ 445,304 $ (1,970,423 ) Foreign currency forward contracts (1) (60,419 ) 177,621 (12,035 ) 346,855 Total-return, credit-default and interest-rate swaps (1) 10,129 (387,399 ) (2,829 ) (22,726 ) Options and futures (1) 17,291 12,849 (1,507 ) 6,233 Swaptions (1)(2) (6 ) (65 ) (666 ) 1,325 Total $ 318,267 $ (2,357,989 ) $ 428,267 $ (1,638,736 ) Nine Months Ended September 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 $ 1,226,498 $ (2,622,650 ) $ 1,684,794 $ (470,724 ) Foreign currency forward contracts (1) 410,891 (141,443 ) (106,223 ) 342,592 Total-return, credit-default and interest-rate swaps (1) 2,955 (503,625 ) 41,086 (36,290 ) Options and futures (1) 13,314 (3,450 ) (22,395 ) 41 Swaptions (1)(2) (3,013 ) 2,277 (666 ) (3,987 ) Total $ 1,650,645 $ (3,268,891 ) $ 1,596,596 $ (168,368 ) (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)	9 Months Ended
	Sep. 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 September 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) $ 656,120 $ — $ — $ 656,120 $ 655,529 $ — $ — $ 655,529 Corporate investments — 16,872 — 16,872 23,660 17,154 — 40,814 Forward currency contracts (2) — 10,335 — 10,335 — 24,499 — 24,499 Total assets $ 656,120 $ 27,207 $ — $ 683,327 $ 679,189 $ 41,653 $ — $ 720,842 Liabilities Contingent consideration (3) $ — $ — $ (29,178 ) $ (29,178 ) $ — $ — $ (27,245 ) $ (27,245 ) Forward currency contracts (3) — (3,051 ) — (3,051 ) — (3,439 ) — (3,439 ) Interest-rate swaps (3) — (1,854 ) — (1,854 ) — (2,317 ) — (2,317 ) Total liabilities $ — $ (4,905 ) $ (29,178 ) $ (34,083 ) $ — $ (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 September 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 $ — $ 8,508,989 $ 1,816,861 $ 10,325,850 $ — $ 8,135,722 $ 1,555,656 $ 9,691,378 Corporate debt – all other 2,385 5,607,494 2,933,992 8,543,871 4,039 5,539,518 2,750,661 8,294,218 Equities – common stock 5,070,383 227,463 8,774,815 14,072,661 6,042,583 505,459 9,044,579 15,592,621 Equities – preferred stock 667 — 1,683,357 1,684,024 3,148 — 1,320,752 1,323,900 Real estate — — 9,935,730 9,935,730 — — 9,216,056 9,216,056 Real estate loan portfolios — — 3,117,556 3,117,556 — — 2,399,105 2,399,105 Other — — 4,730 4,730 945 — 15,576 16,521 Total investments 5,073,435 14,343,946 28,267,041 47,684,422 6,050,715 14,180,699 26,302,385 46,533,799 Derivatives: Forward currency contracts — 106,590 — 106,590 — 254,929 — 254,929 Swaps — 1,655 — 1,655 — 4,217 — 4,217 Options and futures 3,985 36,947 — 40,932 — 36,568 — 36,568 Swaptions — 46 — 46 — 483 — 483 Total derivatives 3,985 145,238 — 149,223 — 296,197 — 296,197 Total assets $ 5,077,420 $ 14,489,184 $ 28,267,041 $ 47,833,645 $ 6,050,715 $ 14,476,896 $ 26,302,385 $ 46,829,996 Liabilities Securities sold short: Equity securities $ (115,463 ) $ — $ — $ (115,463 ) $ (64,438 ) $ — $ — $ (64,438 ) Derivatives: Forward currency contracts — (46,079 ) — (46,079 ) — (54,663 ) — (54,663 ) Swaps — (669,941 ) (12,684 ) (682,625 ) — (172,672 ) (10,687 ) (183,359 ) Options and futures — (5,656 ) — (5,656 ) (11,051 ) (3,918 ) — (14,969 ) Swaptions — — — — — (518 ) — (518 ) Total derivatives — (721,676 ) (12,684 ) (734,360 ) (11,051 ) (231,771 ) (10,687 ) (253,509 ) Total liabilities $ (115,463 ) $ (721,676 ) $ (12,684 ) $ (849,823 ) $ (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 September 30, 2015: Beginning 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 Transfers into Level III 123,811 — 175,304 — 128,261 — — — 427,376 Transfers out of Level III (2,667 ) (136,524 ) (674,001 ) (109 ) — — — — (813,301 ) Purchases 329,452 244,669 90,460 50,818 361,312 513,272 — — 1,589,983 Sales (31,431 ) (84,072 ) (560,077 ) (5,192 ) (256,571 ) (188,245 ) — — (1,125,588 ) Realized gains (losses), net 12,070 359 186,815 1,658 99,539 66,345 — — 366,786 Unrealized appreciation (depreciation), net (13,651 ) (5,814 ) (146,695 ) (23,556 ) 30,287 (53,288 ) (4,040 ) 334 (216,423 ) Ending balance $ 1,816,861 $ 2,933,992 $ 8,774,815 $ 1,683,357 $ 9,935,730 $ 3,117,556 $ (12,684 ) $ 4,730 $ 28,254,357 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (6,205 ) $ (24,711 ) $ (286,881 ) $ 97,407 $ 105,450 $ (38,805 ) $ (4,039 ) $ 334 $ (157,450 ) Three Months Ended September 30, 2014: Beginning balance $ 1,944,391 $ 2,346,508 $ 8,334,621 $ 1,200,716 $ 8,020,570 $ 2,516,827 $ 836 $ 14,887 $ 24,379,356 Transfers into Level III 3,976 151,436 428,142 — 3,925 — — — 587,479 Transfers out of Level III (219,950 ) — (382,830 ) (76,821 ) (3,925 ) — — — (683,526 ) Purchases 484,567 222,089 1,547,303 73,276 453,157 48,822 — 1,000 2,830,214 Sales (128,806 ) (80,736 ) (160,046 ) (1,208 ) (690,580 ) (413,965 ) — (232 ) (1,475,573 ) Realized gains (losses), net 15,274 (31,977 ) 11,350 (893 ) 167,963 87,627 — (874 ) 248,470 Unrealized appreciation (depreciation), net (67,489 ) (49,653 ) (226,463 ) 44,324 (151,904 ) 58,587 3,257 1,006 (388,335 ) Ending balance $ 2,031,963 $ 2,557,667 $ 9,552,077 $ 1,239,394 $ 7,799,206 $ 2,297,898 $ 4,093 $ 15,787 $ 25,498,085 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (85,726 ) $ (7,465 ) $ (25,962 ) $ 83,015 $ (42,386 ) $ 58,587 $ 3,257 $ (99 ) $ (16,779 ) Corporate Debt – Bank Debt Corporate Debt – All Other Equities – Common Stock Equities – Preferred Stock Real Estate Real Estate Loan Portfolios Swaps Other Total Nine Months Ended September 30, 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 240,344 17,208 552,867 15,835 128,261 — — — 954,515 Transfers out of Level III (148,665 ) (246,608 ) (1,197,424 ) (32,692 ) — — — — (1,625,389 ) Purchases 554,203 811,132 1,284,587 255,946 1,310,886 1,119,187 — — 5,335,941 Sales (372,198 ) (247,423 ) (1,002,296 ) (60,139 ) (1,241,926 ) (491,632 ) — — (3,415,614 ) Realized gains (losses), net 37,477 (32,140 ) 120,689 39,042 578,596 164,973 — — 908,637 Unrealized appreciation (depreciation), net (49,956 ) (118,838 ) (40,187 ) 144,613 (56,143 ) (74,077 ) (1,997 ) 1,154 (195,431 ) Ending balance $ 1,816,861 $ 2,933,992 $ 8,774,815 $ 1,683,357 $ 9,935,730 $ 3,117,556 $ (12,684 ) $ 4,730 $ 28,254,357 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (23,824 ) $ (68,639 ) $ (72,798 ) $ 206,869 $ 197,926 $ (74,077 ) $ (1,996 ) $ 1,154 $ 164,615 Nine Months Ended September 30, 2014: Beginning balance $ 2,809,437 $ 2,432,179 $ 6,700,015 $ 919,771 $ 6,221,294 $ 2,369,441 $ — $ 13,708 $ 21,465,845 Transfers into Level III 816,797 313,982 852,824 — 132,502 — — — 2,116,105 Transfers out of Level III (1,768,697 ) (18,871 ) (876,178 ) (83,365 ) (94,821 ) — — — (2,841,932 ) Purchases 888,791 501,385 3,068,812 249,973 2,146,535 699,234 — 2,000 7,556,730 Sales (735,809 ) (689,974 ) (477,359 ) (69,486 ) (1,268,380 ) (1,064,002 ) — (232 ) (4,305,242 ) Realized gains (losses), net 120,750 87,061 76,760 (16,978 ) 264,088 145,066 — (874 ) 675,873 Unrealized appreciation (depreciation), net (99,306 ) (68,095 ) 207,203 239,479 397,988 148,159 4,093 1,185 830,706 Ending balance $ 2,031,963 $ 2,557,667 $ 9,552,077 $ 1,239,394 $ 7,799,206 $ 2,297,898 $ 4,093 $ 15,787 $ 25,498,085 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (44,291 ) $ 72,149 $ 533,070 $ 264,924 $ 556,131 $ 148,159 $ 4,093 $ 79 $ 1,534,314
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 September 30, 2015: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) Credit-oriented investments: Consumer discretionary: $ 261,456 Discounted cash flow (1) Discount rate 5% – 14% 12% 465,696 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 8x 6x 110,104 Recent transaction price (5) Not applicable Not applicable Not applicable 120,922 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Energy: 47,713 Recent market information (6) Quoted prices / discount Not applicable Not applicable Financials: 529,756 Discounted cash flow (1) Discount rate 6% – 14% 11% 247,235 Market approach (2)(4) Underlying asset multiple 1.1x – 1.5x 1.2x 250,237 Recent transaction price (5) Not applicable Not applicable Not applicable 177,634 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Industrials: 207,569 Discounted cash flow (1) Discount rate 5% – 15% 12% 55,679 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 11% – 13% 12% 7,658 Market approach (comparable companies) (2) Earnings multiple (3) 5x – 8x 7x 239,945 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 0.7x – 1.0x 0.9x 21,100 Recent transaction price (5) Not applicable Not applicable Not applicable 21,945 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Information technology: 182,868 Discounted cash flow (1) Discount rate 6% – 13% 12% 143,705 Market approach (comparable companies) (2) Earnings multiple (3) 6x – 8x 7x 61,856 Recent transaction price (5) Not applicable Not applicable Not applicable 71,245 Recent market information (6) Quoted prices / discount (discount not applicable) Not applicable Not applicable Materials: 454,015 Discounted cash flow (1) Discount rate 11% – 14% 13% 134,581 Market approach (comparable companies) (2) Earnings multiple (3) 7x – 8x 7x 7,198 Recent transaction price (5) Not applicable Not applicable Not applicable 5,969 Recent market information (6) Quoted prices / discount Not applicable Not applicable Other: 395,972 Discounted cash flow (1) Discount rate 5% – 14% 11% 23,013 Market approach (2) Earnings multiple (3) 6x – 8x 7x 169,003 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 178,480 Recent transaction price (5) Not applicable Not applicable Not applicable 145,615 Recent market information (6) Quoted prices / discount Not applicable Not applicable Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) Equity investments: Energy: $ 776,064 Market approach (2) Earnings multiple (3) 7x – 18x 15x 64,524 Recent transaction price (5) Not applicable Not applicable Not applicable 32,121 Recent market information (6) Quoted prices / discount Not applicable Not applicable 186,091 Other Not applicable Not applicable Not applicable Financials: 971,070 Market approach (2)(4) Underlying asset multiple 1x – 1.5x 1.3x 242,602 Recent transaction price (5) Not applicable Not applicable Not applicable 153,457 Recent market information (6) Quoted prices / discount Not applicable Not applicable Industrials: 37,130 Discounted cash flow (1) Discount rate 10% – 12% 11% 1,898,275 Market approach (2) Earnings multiple (3) 5x – 11x 8x 1,451,622 Market approach (2)(4) Underlying asset multiple 0.9x – 1.1x 1x 277,231 Recent transaction price (5) Not applicable Not applicable Not applicable 181,107 Recent market information (6) Quoted prices / discount Not applicable Not applicable Materials: 1,255,972 Market approach (comparable companies) (2) Earnings multiple (3) 7x – 9x 8x 25,133 Recent transaction price (5) Not applicable Not applicable Not applicable Other: 2,260,092 Market approach (comparable companies) (2) Earnings multiple (3) 3x – 12x 8x 222,512 Recent transaction price (5) Not applicable Not applicable Not applicable 152,080 Recent market information (6) Quoted prices / discount Not applicable Not applicable 271,089 Other Not applicable Not applicable Not applicable Real estate-oriented investments: 4,113,712 Discounted cash flow (1)(7) Discount rate 6% – 44% 12% Terminal capitalization rate 5% – 10% 7% Direct capitalization rate 5% – 10% 7% Net operating income growth rate 0% – 50% 11% Absorption rate 21% – 50% 37% 106,006 Discounted cash flow (1) / Sales approach (8) Discount rate / Market transactions 6% – 8% 7% 217,427 Market approach (comparable companies) (2) Earnings multiple (3) 10x – 13x 13x 954,208 Market approach (value of underlying assets) (2)(4) Underlying asset multiple 1x – 1.8x 1.6x 578,071 Recent transaction price (5) Not applicable Not applicable Not applicable 96,816 Recent market information (6) / Market approach (comparable companies) (2) Quoted prices / discount (discount not applicable) / Earnings multiple (3) 10x – 12x 11x 2,383,897 Recent market information (6) Quoted prices / discount 0% – 6% 4% 1,410,002 Sales approach (8) Market transactions Not applicable Not applicable 75,591 Other Not applicable Not applicable Not applicable Real estate loan portfolios: 2,209,112 Discounted cash flow (1)(7) Discount rate 8% – 20% 13% 908,444 Recent transaction price (5) Not applicable Not applicable Not applicable Other 4,730 Total Level III investments $ 28,254,357 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)	9 Months Ended
	Sep. 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 September 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 10/8/15-10/7/16 226,700 $ 261,218 $ 254,008 $ 7,210 USD (buy GBP), expiring 10/30/15-7/29/16 81,550 81,550 82,250 (700 ) Japanese Yen, expiring 12/30/15-9/30/16 6,884,500 58,381 57,607 774 Total $ 401,149 $ 393,865 $ 7,284 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 September 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 $ (60,419 ) $ 177,621 $ (12,035 ) $ 346,855 Total-return, credit-default and interest-rate swaps 10,129 (387,399 ) (2,829 ) (22,726 ) Options and futures 17,291 12,849 (1,507 ) 6,233 Swaptions (6 ) (65 ) (666 ) 1,325 Total $ (33,005 ) $ (196,994 ) $ (17,037 ) $ 331,687 Nine Months Ended September 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 $ 410,891 $ (141,443 ) $ (106,223 ) $ 342,592 Total-return, credit-default and interest-rate swaps 2,955 (503,625 ) 41,086 (36,290 ) Options and futures 13,314 (3,450 ) (22,395 ) 41 Swaptions (3,013 ) 2,277 (666 ) (3,987 ) Total $ 424,147 $ (646,241 ) $ (88,198 ) $ 302,356 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 September 30, Nine Months Ended Foreign Currency Forward Contracts: 2015 2014 2015 2014 General and administrative expenses (1) $ (4,452 ) $ 17,231 $ 18,389 $ 18,325 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 in 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 management has elected not to offset in the condensed consolidated statements of financial condition even though they are eligible to be offset in accordance with applicable accounting guidance. Gross Amounts of Assets (Liabilities) Gross Amounts Offset in Assets (Liabilities) Net Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of September 30, 2015 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign currency forward contracts $ 10,335 $ — $ 10,335 $ 4,900 $ — $ 5,435 Derivative assets of consolidated funds: Foreign currency forward contracts 106,590 — 106,590 12,234 — 94,356 Total-return, credit-default and interest-rate swaps 1,655 — 1,655 129 — 1,526 Options and futures 40,932 — 40,932 17,949 — 22,983 Swaptions 46 — 46 46 — — Subtotal 149,223 — 149,223 30,358 — 118,865 Total $ 159,558 $ — $ 159,558 $ 35,258 $ — $ 124,300 Derivative Liabilities: Foreign currency forward contracts $ (3,051 ) $ — $ (3,051 ) $ (3,046 ) $ — $ (5 ) Interest-rate swaps (1,854 ) — (1,854 ) (1,854 ) — — Subtotal (4,905 ) — (4,905 ) (4,900 ) — (5 ) Derivative liabilities of consolidated funds: Foreign currency forward contracts (46,079 ) — (46,079 ) (21,668 ) (7,323 ) (17,088 ) Total-return, credit-default and interest-rate swaps (682,625 ) — (682,625 ) (153,944 ) (504,086 ) (24,595 ) Options and futures (5,656 ) — (5,656 ) (5,621 ) (35 ) — Subtotal (734,360 ) — (734,360 ) (181,233 ) (511,444 ) (41,683 ) Total $ (739,265 ) $ — $ (739,265 ) $ (186,133 ) $ (511,444 ) $ (41,688 ) 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 management has elected not to offset in the condensed consolidated statements of financial condition even though they are eligible to be offset in accordance with applicable accounting guidance. Gross Amounts of Assets (Liabilities) Gross Amounts Offset in Assets (Liabilities) Net Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of September 30, 2015 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign currency forward contracts $ 10,335 $ — $ 10,335 $ 4,900 $ — $ 5,435 Derivative assets of consolidated funds: Foreign currency forward contracts 106,590 — 106,590 12,234 — 94,356 Total-return, credit-default and interest-rate swaps 1,655 — 1,655 129 — 1,526 Options and futures 40,932 — 40,932 17,949 — 22,983 Swaptions 46 — 46 46 — — Subtotal 149,223 — 149,223 30,358 — 118,865 Total $ 159,558 $ — $ 159,558 $ 35,258 $ — $ 124,300 Derivative Liabilities: Foreign currency forward contracts $ (3,051 ) $ — $ (3,051 ) $ (3,046 ) $ — $ (5 ) Interest-rate swaps (1,854 ) — (1,854 ) (1,854 ) — — Subtotal (4,905 ) — (4,905 ) (4,900 ) — (5 ) Derivative liabilities of consolidated funds: Foreign currency forward contracts (46,079 ) — (46,079 ) (21,668 ) (7,323 ) (17,088 ) Total-return, credit-default and interest-rate swaps (682,625 ) — (682,625 ) (153,944 ) (504,086 ) (24,595 ) Options and futures (5,656 ) — (5,656 ) (5,621 ) (35 ) — Subtotal (734,360 ) — (734,360 ) (181,233 ) (511,444 ) (41,683 ) Total $ (739,265 ) $ — $ (739,265 ) $ (186,133 ) $ (511,444 ) $ (41,688 ) 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)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Debt Obligations	The Company’s debt obligations are set forth below: As of September 30, 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 of debt obligations as of September 30, 2015 were as follows: Remainder of 2015 $ — 2016 100,000 2017 — 2018 — 2019 500,000 Thereafter 250,000 Total $ 850,000 Future scheduled principal payments with respect to the debt obligations of CLOs as of September 30, 2015 were as follows: Remainder of 2015 $ — 2016 51,436 2017 — 2018 97,603 2019 — Thereafter 2,202,233 Total $ 2,351,272
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) September 30, 2015 December 31, 2014 Credit facility (3) $ 434,000 $ 434,000 $ 434,000 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) 499,627 499,322 $ 500,000 1.20% 4/20/2023 N/A N/A Senior variable rate notes (3) 402,457 402,422 $ 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) 84,662 84,399 $ 86,000 2.10% 8/15/2025 N/A N/A Credit facility (3)(4) 240,000 — $ 325,000 1.25% 4/11/2017 N/A N/A Senior variable rate notes (3) 332,762 332,706 $ 333,000 1.56% 11/15/2025 N/A N/A Senior variable rate notes (3) 76,870 76,648 $ 78,000 2.30% 11/15/2025 N/A N/A Senior variable rate notes (3) 39,202 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) 64,825 — $ 65,000 2.30% 2/15/2026 N/A N/A Senior variable rate notes (3) 36,973 — $ 37,500 3.10% 2/15/2026 N/A N/A Revolving credit facility 59,846 50,054 $ 400,000 3.05% 8/13/2016 0.25% 2.00% Revolving credit facility — 500,000 $ 500,000 1.60% 6/26/2015 0.25% N/A Revolving credit facility 951,366 — $ 1,400,000 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 81,491 — $ 110,000 2.00% 11/4/2016 0.30% 2.00% Revolving credit facility — — $ 50,000 1.50% 1/30/2017 0.25% 1.50% Euro-denominated revolving credit facility 590,803 650,725 € 550,000 1.65% 2/25/2016 0.25% 1.65% Euro-denominated revolving credit facility — — € 300,000 2.35% 2/27/2017 0.50% 2.35% Euro-denominated revolving credit facility 93,430 97,925 € 100,000 1.95% 2/2/2016 0.40% 1.95% Revolving credit facility — 146,000 $ 221,000 1.65% 9/30/2015 0.25% N/A Revolving credit facility 434,904 201,739 $ 500,000 1.60% 1/16/2017 0.25% 1.60% Revolving credit facility 49,905 56,697 $ 61,000 2.95% 3/15/2019 N/A N/A Revolving credit facility 72,688 88,000 $ 72,688 2.75% 12/16/2018 1.00% N/A Revolving credit facility 8,000 2,000 $ 35,000 1.50% 12/11/2015 0.20% N/A Revolving credit facility 242,661 93,943 $ 350,000 1.60% 9/8/2016 0.25% 2.00% Credit facility (5) 59,996 — $ 59,996 4.50% 3/21/2018 N/A N/A Revolving credit facility 100,800 — $ 400,000 1.45% 7/14/2017 0.25% 1.45% Euro-denominated revolving credit facility 16,743 — € 95,000 2.25% 9/1/2017 0.50% N/A Revolving credit facility 33,151 — $ 40,000 2.25% 3/4/2016 0.30% 1.75% Credit facility (5)(6) 179,699 214,423 $ 179,699 1.99% Various N/A N/A $ 6,228,361 $ 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 September 30, 2015 and December 31, 2014, outstanding standby letters of credit totaled $451,254 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 November 11, 2015, and 2.50% thereafter. (5) The credit facility is collateralized by specific investments of the fund. (6) Of the total balance outstanding, $28.2 million matures in February 2016 and $151.5 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 September 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) $ 457,054 $ 454,500 2.33% 9.5 $ 456,567 $ 449,167 2.25% 10.3 Senior secured notes (3) 454,269 452,769 2.49% 11.2 453,821 454,274 2.43% 12.0 Senior secured notes (4) 97,603 96,681 2.68% 3.3 85,776 85,468 2.61% 4.0 Senior secured notes (5) 373,706 370,102 2.26% 12.0 405,018 402,649 2.32% 12.7 Senior secured notes (6) 455,175 452,710 2.54% 12.2 — — — — Senior secured notes (7) 370,984 372,555 2.46% 12.6 — — — — Subordinated note (8) 25,500 19,190 N/A 11.2 25,500 25,500 N/A 12.0 Subordinated note (8) 21,627 14,222 N/A 12.0 23,596 23,596 N/A 12.7 Subordinated note (8) 25,500 19,876 N/A 12.2 — — — — Subordinated note (8) 18,418 12,281 N/A 12.6 — — — — Subordinated note (9) 6,637 6,637 N/A 1.8 — — — — Term loan (10) 44,799 44,799 1.20% 1.8 — — — — Term loan — — — — 151,257 151,257 1.24% 1.8 $ 2,351,272 $ 2,316,322 $ 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 certain 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 LIBOR plus 2.10% . (7) The weighted average interest rate is based on EURIBOR plus 2.46% . (8) The subordinated notes do not have a contractual interest rate; instead, they receive distributions from the excess cash flows generated by the CLO. (9) This represents a subordinated credit facility with a total capacity of €25 million as of September 30, 2015. The facility does not have a contractual interest rate; instead, this facility receives distributions from the excess cash flows generated by the CLO. (10) The term loan had a total facility capacity of €150 million as of September 30, 2015. The interest rate is based on EURIBOR plus 1.20% . The unused commitment fee was 0.30% .

NON-CONTROLLING REDEEMABLE IN29

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS (Tables)	9 Months Ended
	Sep. 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. Nine Months Ended September 30, 2015 2014 Beginning balance $ 41,681,155 $ 38,834,831 Contributions 4,654,438 7,250,262 Distributions (4,595,694 ) (5,971,132 ) Net income (1,037,265 ) 1,842,779 Change in distributions payable 566,609 (944 ) Change in accrued or deferred contributions 13,467 (7,000 ) Initial consolidation of a fund — 902,979 Foreign currency translation and other (341,899 ) (388,447 ) Ending balance $ 40,940,811 $ 42,463,328

UNITHOLDERS' CAPITAL (Tables)

UNITHOLDERS' CAPITAL (Tables)	9 Months Ended
	Sep. 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 non-controlling interest and to the Class A unitholders: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Weighted average Oaktree Operating Group units outstanding (in thousands): OCGH non-controlling interest 105,505 109,329 106,372 110,362 Class A unitholders 48,440 43,480 47,304 42,234 Total weighted average units outstanding 153,945 152,809 153,676 152,596 Oaktree Operating Group net income: Net income attributable to OCGH non-controlling interest $ 5,868 $ 64,683 $ 168,874 $ 320,054 Net income attributable to Class A unitholders 2,694 25,725 72,882 119,957 Oaktree Operating Group net income (1) $ 8,562 $ 90,408 $ 241,756 $ 440,011 Net income attributable to Oaktree Capital Group, LLC: Oaktree Operating Group net income attributable to Class A unitholders $ 2,694 $ 25,725 $ 72,882 $ 119,957 Non-Operating Group expenses (464 ) (264 ) (1,424 ) (1,149 ) Income tax expense of Intermediate Holding Companies (343 ) (6,548 ) (11,504 ) (16,915 ) Net income attributable to Oaktree Capital Group, LLC $ 1,887 $ 18,913 $ 59,954 $ 101,893 (1) Oaktree Operating Group net income does not reflect amounts attributable to other non-controlling interests, which amounted to $4,899 and $5,503 for the three and nine months ended September 30, 2015, and $2,868 for both the three and nine months ended September 30, 2014.
Changes in Company Ownership Interest	The change in the Company’s ownership interest in the Oaktree Operating Group is set forth below: Three Months Ended Nine Months Ended 2015 2014 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 1,887 $ 18,913 $ 59,954 $ 101,893 Equity reallocation between controlling and non-controlling interests 2,496 (391 ) 47,698 48,725 Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests $ 4,383 $ 18,522 $ 107,652 $ 150,618

EARNINGS PER UNIT (Tables)

EARNINGS PER UNIT (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended 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 $ 1,887 $ 18,913 $ 59,954 $ 101,893 Weighted average number of Class A units outstanding (basic and diluted) 48,440 43,480 47,304 42,234 Basic and diluted net income per Class A unit $ 0.04 $ 0.43 $ 1.27 $ 2.41

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 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 September 30, 2015 and a summary of changes for the nine months then ended are presented below (actual dollars per unit): Class A Units OCGH Units Number of Units Weighted Average Grant Date Fair Value Number of Units Weighted Average Grant Date Fair Value Balance, December 31, 2014 19,049 $ 50.63 5,070,992 $ 36.21 Granted 7,940 55.75 1,175,213 44.04 Vested (5,688 ) 49.14 (1,385,577 ) 32.36 Forfeited — — (110,359 ) 36.41 Balance, September 30, 2015 21,301 $ 52.94 4,750,269 $ 39.27
Schedule of Unvested Units Expected to Vest	As of September 30, 2015, unvested units were expected to vest as follows: Number of Units Weighted Average Remaining Service Term (Years) Class A units 21,301 2.6 OCGH units 4,750,269 4.5

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Amounts Due from and Due to Affiliates	The fair value of amounts due to affiliates approximated $171,401 and $159,264 as of September 30, 2015 and December 31, 2014, respectively, based on a discount rate of 10.0% . As of September 30, 2015 December 31, 2014 Due from affiliates: Loans $ 30,092 $ 39,452 Amounts due from non-consolidated funds 2,312 2,525 Payments made on behalf of non-consolidated entities 3,787 3,221 Non-interest bearing advances made to certain non-controlling interest holders and employees 1,615 1,683 Total due from affiliates $ 37,806 $ 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 — 739 Total due to affiliates $ 370,949 $ 309,214

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Adjusted Net Income	ANI was as follows: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Revenues: Management fees $ 181,897 $ 194,509 $ 555,505 $ 572,028 Incentive income 16,925 86,324 230,952 438,398 Investment income (loss) (19,950 ) (2,361 ) 56,873 98,318 Total revenues 178,872 278,472 843,330 1,108,744 Expenses: Compensation and benefits (96,675 ) (99,402 ) (306,290 ) (290,234 ) Equity-based compensation (8,836 ) (5,185 ) (27,760 ) (14,279 ) Incentive income compensation (7,596 ) (39,814 ) (127,252 ) (207,789 ) General and administrative (33,704 ) (29,687 ) (84,026 ) (91,380 ) Depreciation and amortization (3,031 ) (1,914 ) (7,027 ) (5,650 ) Total expenses (149,842 ) (176,002 ) (552,355 ) (609,332 ) Adjusted net income before interest and other income (expense) 29,030 102,470 290,975 499,412 Interest expense, net of interest income (1) (8,388 ) (7,419 ) (26,103 ) (20,978 ) Other income (expense), net — 10 (3,546 ) (1,679 ) Adjusted net income $ 20,642 $ 95,061 $ 261,326 $ 476,755 (1) Interest income was $1.7 million and $0.9 million for the three months ended September 30, 2015 and 2014, respectively, and $3.9 million and $2.7 million for the nine months ended September 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 Nine Months Ended 2015 2014 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 1,887 $ 18,913 $ 59,954 $ 101,893 Incentive income (1) 8,676 (3,234 ) 20,249 55,124 Incentive income compensation (1) (2,689 ) 3,234 (20,242 ) (36,988 ) Equity-based compensation (2) 3,658 5,372 12,523 15,947 Acquisition-related items (3) 1,433 488 4,935 488 Income taxes (4) 1,893 5,341 15,253 19,088 Non-Operating Group expenses (5) 464 264 1,424 1,149 Non-controlling interests (5) 5,320 64,683 167,230 320,054 Adjusted net income $ 20,642 $ 95,061 $ 261,326 $ 476,755 (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 expense 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 September 30, 2015 Segment Adjustments Consolidated Management fees (1) $ 181,897 $ (134,791 ) $ 47,106 Incentive income (1) 16,925 (13,540 ) 3,385 Investment income (loss) (1) (19,950 ) 30,292 10,342 Total expenses (2) (149,842 ) (40,676 ) (190,518 ) Interest expense, net (3) (8,388 ) (47,635 ) (56,023 ) Other income, net (4) — 6,368 6,368 Other income (loss) of consolidated funds (5) — (1,585,338 ) (1,585,338 ) Income taxes — (1,893 ) (1,893 ) Net loss attributable to non-controlling interests in consolidated funds — 1,779,225 1,779,225 Net income attributable to non-controlling interests in consolidated subsidiaries — (10,767 ) (10,767 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 20,642 $ (18,755 ) $ 1,887 Corporate investments (6) $ 1,465,195 $ (1,291,621 ) $ 173,574 Total assets (7) $ 3,232,960 $ 51,625,091 $ 54,858,051 (1) The adjustment represents the elimination of amounts earned from the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation expense of $3,874 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $31,400 , (c) expenses incurred by the Intermediate Holding Companies of $491 , (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 $2,689 , (e) acquisition-related items of $1,433 , (f) adjustments of $6,368 related to amounts received for contractually reimbursable costs that are classified as expenses for segment reporting and as other income under GAAP, (g) differences of $217 arising from EVUs that are classified as liability awards under GAAP, but classified as equity awards for segment reporting purposes, 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 classified as expenses for segment reporting and as other income under GAAP. (5) The adjustment to other income (loss) 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. The $1.5 billion of corporate investments included $1.3 billion of equity-method investments. (7) The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable. As of or for the Three Months Ended September 30, 2014 Segment Adjustments Consolidated Management fees (1) $ 194,509 $ (140,266 ) $ 54,243 Incentive income (1) 86,324 (86,324 ) — Investment income (loss) (1) (2,361 ) 8,129 5,768 Total expenses (2) (176,002 ) (76,399 ) (252,401 ) Interest expense, net (3) (7,419 ) (27,145 ) (34,564 ) Other income, net (4) 10 2,685 2,695 Other income (loss) of consolidated funds (5) — (349,360 ) (349,360 ) Income taxes — (5,341 ) (5,341 ) Net loss attributable to non-controlling interests in consolidated funds — 665,424 665,424 Net income attributable to non-controlling interests in consolidated subsidiaries — (67,551 ) (67,551 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 95,061 $ (76,148 ) $ 18,913 Corporate investments (6) $ 1,465,211 $ (1,324,475 ) $ 140,736 Total assets (7) $ 3,245,514 $ 49,401,937 $ 52,647,451 (1) The adjustment represents the elimination of amounts attributable to the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation expense of $5,372 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $64,356 , (c) expenses incurred by the Intermediate Holding Companies of $264 , (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $3,234 , (e) acquisition-related items of $488 and (f) adjustments of $2,685 related to amounts received for contractually reimbursable costs that are classified as expenses for segment reporting and as other income under GAAP. (3) The interest expense adjustment represents the inclusion of interest expense attributable to non-controlling interests of the consolidated funds and the exclusion of segment interest income. (4) The adjustment to other income, net represents adjustments related to amounts received for contractually reimbursable costs that are classified as expenses for segment reporting and as other income under GAAP. (5) The adjustment to other income (loss) 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 consolidated funds, including investments in its CLOs, that are treated as equity- or cost-method investments for segment reporting. The $1.5 billion of corporate investments included $1.3 billion of equity-method investments. (7) The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable. As of or for the Nine Months Ended September 30, 2015 Segment Adjustments Consolidated Management fees (1) $ 555,505 $ (406,657 ) $ 148,848 Incentive income (1) 230,952 (227,003 ) 3,949 Investment income (1) 56,873 (18,155 ) 38,718 Total expenses (2) (552,355 ) (120,066 ) (672,421 ) Interest expense, net (3) (26,103 ) (129,231 ) (155,334 ) Other income (expense), net (4) (3,546 ) 17,471 13,925 Other income (loss) of consolidated funds (5) — (162,622 ) (162,622 ) Income taxes — (15,253 ) (15,253 ) Net loss attributable to non-controlling interests in consolidated funds — 1,034,521 1,034,521 Net income attributable to non-controlling interests in consolidated subsidiaries — (174,377 ) (174,377 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 261,326 $ (201,372 ) $ 59,954 Corporate investments (6) $ 1,465,195 $ (1,291,621 ) $ 173,574 Total assets (7) $ 3,232,960 $ 51,625,091 $ 54,858,051 (1) The adjustment represents the elimination of amounts earned from the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation expense of $12,479 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $103,831 , (c) expenses incurred by the Intermediate Holding Companies of $1,477 , (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 $20,242 , (e) acquisition-related items of $4,935 , (f) adjustments of $17,471 related to amounts received for contractually reimbursable costs that are classified as expenses for segment reporting and as other income under GAAP, (g) differences of $44 arising from EVUs that are classified as liability awards under GAAP, but classified as equity awards for segment reporting purposes, and (h) other expenses of $71 . (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 classified as expenses for segment reporting and as other income under GAAP. (5) The adjustment to other income (loss) 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. The $1.5 billion of corporate investments included $1.3 billion of equity-method investments. (7) The total assets adjustment represents the inclusion of investments and other assets of the consolidated funds, net of segment assets eliminated in consolidation, which are primarily corporate investments in funds and incentive income receivable. As of or for the Nine Months Ended September 30, 2014 Segment Adjustments Consolidated Management fees (1) $ 572,028 $ (425,794 ) $ 146,234 Incentive income (1) 438,398 (438,398 ) — Investment income (1) 98,318 (83,169 ) 15,149 Total expenses (2) (609,332 ) (116,773 ) (726,105 ) Interest expense, net (3) (20,978 ) (63,285 ) (84,263 ) Other income (expense), net (4) (1,679 ) 2,685 1,006 Other income of consolidated funds (5) — 2,935,534 2,935,534 Income taxes — (19,088 ) (19,088 ) Net income attributable to non-controlling interests in consolidated funds — (1,843,652 ) (1,843,652 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (322,922 ) (322,922 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 476,755 $ (374,862 ) $ 101,893 Corporate investments (6) $ 1,465,211 $ (1,324,475 ) $ 140,736 Total assets (7) $ 3,245,514 $ 49,401,937 $ 52,647,451 (1) The adjustment represents the elimination of amounts attributable to the consolidated funds. (2) The expense adjustment consists of (a) equity-based compensation expense of $15,947 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $133,492 , (c) expenses incurred by the Intermediate Holding Companies of $1,149 , (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $36,988 , (e) acquisition-related items of $488 and (f) adjustments of $2,685 related to amounts received for contractually reimbursable costs that are classified as expenses for segment reporting and as other income under GAAP. (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 classified as expenses for segment reporting and 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 consolidated funds, including investments in its CLOs, that are treated as equity- or cost-method investments for segment reporting. The $1.5 billion of corporate investments included $1.3 billion of equity-method investments. (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.

ORGANIZATION AND BASIS OF PRE35

ORGANIZATION AND BASIS OF PRESENTATION (Details)	9 Months Ended
	Sep. 30, 2015partnership_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	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)quoteentity	Dec. 31, 2014entity
Variable Interest Entity [Line Items]
Number of broker quotes | quote	1
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Number of variable interest entities that are consolidated	8	6
Assets | $	$ 2,900
Liabilities | $	2,600
Maximum risk of loss | $	$ 161.5
Variable Interest Entity, Primary Beneficiary | Remaining Variable Interest Entities
Variable Interest Entity [Line Items]
Number of variable interest entities that are consolidated	7
Variable Interest Entity, Primary Beneficiary | CLO not Priced
Variable Interest Entity [Line Items]
Number of variable interest entities that are consolidated	2
Minimum
Variable Interest Entity [Line Items]
Withdrawal period	1 month
Number of broker quotes | quote	1
Maximum
Variable Interest Entity [Line Items]
Withdrawal period	3 years
Number of broker quotes | quote	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) - Highstar Capital	1 Months Ended
	Aug. 31, 2014USD ($)shares
Business Acquisition [Line Items]
Cash	$ 31,400,000
OCGH Units (in shares) | 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	Sep. 30, 2015	Dec. 31, 2014	Feb. 28, 2014
Schedule Of Investments In Marketable Securities [Line Items]
Total investments, at fair value	$ 47,684,422	$ 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%
Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 18,869,721	$ 17,985,596
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	39.60%	38.70%
Equity securities:
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 28,814,701	$ 28,548,203
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	60.40%	61.30%
Equity securities (proceeds: $126,292 and $70,760 as of September 30, 2015 and December 31, 2014, respectively)	$ (115,463)	$ (64,438)
United States: | Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 13,852,889	$ 12,884,991
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	29.10%	27.70%
United States: | Debt securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 3,546,268	$ 3,173,576
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	7.50%	6.80%
United States: | Debt securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 777,634	$ 692,890
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.60%	1.50%
United States: | Debt securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,090,688	$ 1,028,317
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.30%	2.20%
United States: | Debt securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,240,338	$ 805,337
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.60%	1.70%
United States: | Debt securities: | Government
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 99,488	$ 140,053
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.20%	0.30%
United States: | Debt securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,241,130	$ 1,010,462
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.60%	2.20%
United States: | Debt securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,873,095	$ 1,795,909
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	4.00%	3.90%
United States: | Debt securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,347,062	$ 1,167,635
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.80%	2.50%
United States: | Debt securities: | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,541,824	$ 1,288,947
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.20%	2.80%
United States: | Debt securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 460,620	$ 372,457
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.00%	0.80%
United States: | Debt securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 634,742	$ 1,409,408
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.30%	3.00%
United States: | Equity securities:
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 15,854,858	$ 17,412,479
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	33.20%	37.40%
United States: | Equity securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 1,866,174	$ 2,475,318
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.90%	5.30%
United States: | Equity securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 841,227	$ 530,305
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.80%	1.10%
United States: | Equity securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 1,870,280	$ 1,756,480
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.90%	3.80%
United States: | Equity securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 7,783,473	$ 7,720,904
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	16.30%	16.60%
United States: | Equity securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 222,636	$ 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:	$ 1,979,349	$ 2,970,356
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	4.20%	6.40%
United States: | Equity securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 66,806	$ 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:	$ 968,383	$ 1,207,523
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.00%	2.60%
United States: | Equity securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 17,535	$ 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:	$ 238,995	$ 329,175
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.50%	0.70%
Europe: | Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 4,001,477	$ 3,910,706
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	8.40%	8.40%
Europe: | Debt securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,396,935	$ 1,371,689
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	3.00%	3.00%
Europe: | Debt securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 245,375	$ 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:	$ 301,274	$ 370,456
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.60%	0.80%
Europe: | Debt securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 854,247	$ 803,468
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.80%	1.70%
Europe: | Debt securities: | Government
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 40,124	$ 0
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	0.00%
Europe: | Debt securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 206,941	$ 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:	$ 295,071	$ 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:	$ 52,519	$ 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:	$ 397,034	$ 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:	$ 192,791	$ 142,322
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.40%	0.30%
Europe: | Debt securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 19,166	$ 24,668
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	0.10%
Europe: | Equity securities:
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 9,528,394	$ 6,904,373
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	20.00%	14.80%
Europe: | Equity securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 236,281	$ 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:	$ 147,642	$ 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:	$ 592,233	$ 92,416
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.20%	0.20%
Europe: | Equity securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 6,880,097	$ 4,760,386
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	14.50%	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:	$ 79,703	$ 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:	$ 923,169	$ 1,226,825
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.90%	2.60%
Europe: | Equity securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 1,270	$ 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:	$ 477,052	$ 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:	$ 4,193	$ 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:	$ 186,754	$ 0
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.40%	0.00%
Asia and other: | Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 1,015,355	$ 1,189,899
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.10%	2.60%
Asia and other: | Debt securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 147,091	$ 140,732
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	0.30%
Asia and other: | Debt securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 19,071	$ 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:	$ 185,931	$ 217,299
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.40%	0.50%
Asia and other: | Debt securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 20,807	$ 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:	$ 16,741	$ 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:	$ 83,086	$ 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:	$ 271,597	$ 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:	$ 25,577	$ 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:	$ 241,138	$ 252,965
Fixed income Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.50%	0.60%
Asia and other: | Debt securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities:	$ 300	$ 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:	$ 4,016	$ 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:	$ 3,431,449	$ 4,231,351
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	7.20%	9.10%
Asia and other: | Equity securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 515,922	$ 664,077
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	1.10%	1.40%
Asia and other: | Equity securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 29,769	$ 113,471
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	0.20%
Asia and other: | Equity securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 227,539	$ 298,040
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.50%	0.60%
Asia and other: | Equity securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 1,016,853	$ 1,518,532
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	2.10%	3.30%
Asia and other: | Equity securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 19,764	$ 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:	$ 1,024,929	$ 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:	$ 276,559	$ 322,592
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.60%	0.70%
Asia and other: | Equity securities: | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 112,655	$ 145,657
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.20%	0.30%
Asia and other: | Equity securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 54,365	$ 39,244
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.10%	0.10%
Asia and other: | Equity securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities:	$ 153,094	$ 169,384
Equity Securities: Fair Value as a Percentage of Investments of Consolidated Funds (as a percent)	0.30%	0.40%

INVESTMENTS, AT FAIR VALUE - 39

INVESTMENTS, AT FAIR VALUE - Investments, at Fair Value, Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Equity securities:
Schedule Of Investments In Marketable Securities [Line Items]
Proceeds	$ 126,292	$ 70,760
United States:
Schedule Of Investments In Marketable Securities [Line Items]
Debt Securities, Cost	15,653,664	13,611,109
Total equity securities	13,688,157	13,911,333
Europe:
Schedule Of Investments In Marketable Securities [Line Items]
Debt Securities, Cost	4,114,371	3,803,751
Total equity securities	7,772,869	5,884,950
Asia and other:
Schedule Of Investments In Marketable Securities [Line Items]
Debt Securities, Cost	1,086,894	1,168,453
Total equity securities	$ 3,526,111	$ 3,393,453

INVESTMENTS, AT FAIR VALUE - Ad

INVESTMENTS, AT FAIR VALUE - Additional Information (Detail) - issuer	Sep. 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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	$ 318,267	$ 428,267	$ 1,650,645	$ 1,596,596
Net Change in Unrealized Appreciation (Depreciation) on Investments	(2,357,989)	(1,638,736)	(3,268,891)	(168,368)
Investments and other financial instruments
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	351,272	445,304	1,226,498	1,684,794
Net Change in Unrealized Appreciation (Depreciation) on Investments	(2,160,995)	(1,970,423)	(2,622,650)	(470,724)
Foreign currency forward contracts
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	(60,419)	(12,035)	410,891	(106,223)
Net Change in Unrealized Appreciation (Depreciation) on Investments	177,621	346,855	(141,443)	342,592
Total-return, credit-default and interest-rate swaps
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	10,129	(2,829)	2,955	41,086
Net Change in Unrealized Appreciation (Depreciation) on Investments	(387,399)	(22,726)	(503,625)	(36,290)
Options and futures
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	17,291	(1,507)	13,314	(22,395)
Net Change in Unrealized Appreciation (Depreciation) on Investments	12,849	6,233	(3,450)	41
Swaptions
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	(6)	(666)	(3,013)	(666)
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ (65)	$ 1,325	$ 2,277	$ (3,987)

FAIR VALUE - Financial Instrume

FAIR VALUE - Financial Instruments by Fair-value Hierarchy Level (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury and government-agency securities	$ 656,120	$ 655,529
Corporate investments	173,574	187,963	$ 140,736
Derivative asset	159,558	320,696
Derivative liabilities	(739,265)	(259,265)
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	683,327	720,842
Total liabilities	(34,083)	(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	656,120	655,529
Fair Value, Measurements, Recurring | Corporate Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate investments	16,872	40,814
Fair Value, Measurements, Recurring | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	(29,178)	(27,245)
Fair Value, Measurements, Recurring | Forward currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	10,335	24,499
Derivative liabilities	(3,051)	(3,439)
Fair Value, Measurements, Recurring | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(1,854)	(2,317)
Fair Value, Measurements, Recurring | Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	656,120	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	656,120	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	0	23,660
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 | 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 | 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	27,207	41,653
Total liabilities	(4,905)	(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	16,872	17,154
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 | Forward currency contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative asset	10,335	24,499
Derivative liabilities	(3,051)	(3,439)
Fair Value, Measurements, Recurring | Level II | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(1,854)	(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	(29,178)	(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	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	(29,178)	(27,245)
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 | 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	Sep. 30, 2015	Dec. 31, 2014	Feb. 28, 2014
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	$ 47,684,422	$ 46,533,799	$ 312,900
Total derivatives	159,558	320,696
Total derivatives	(739,265)	(259,265)
Consolidated Funds
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	47,684,422	46,533,799
Total derivatives	149,223	296,197
Equity securities	(115,463)	(64,438)
Total derivatives	(734,360)	(253,509)
Consolidated Funds | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	40,932	36,568
Total derivatives	(5,656)	(14,969)
Consolidated Funds | Swaptions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	46	483
Total derivatives		(518)
Consolidated Funds | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	28,254,357	26,291,698
Equity securities:
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	(115,463)	(64,438)
Fair Value, Measurements, Recurring
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total assets	683,327	720,842
Total liabilities	(34,083)	(33,001)
Fair Value, Measurements, Recurring | Forward currency contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	10,335	24,499
Total derivatives	(3,051)	(3,439)
Fair Value, Measurements, Recurring | Level I
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total assets	656,120	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	27,207	41,653
Total liabilities	(4,905)	(5,756)
Fair Value, Measurements, Recurring | Level II | Forward currency contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	10,335	24,499
Total derivatives	(3,051)	(3,439)
Fair Value, Measurements, Recurring | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total assets	0	0
Total liabilities	(29,178)	(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	47,684,422	46,533,799
Total derivatives	149,223	296,197
Total assets	47,833,645	46,829,996
Total derivatives	(734,360)	(253,509)
Total liabilities	(849,823)	(317,947)
Fair Value, Measurements, Recurring | Consolidated Funds | Forward currency contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	106,590	254,929
Total derivatives	(46,079)	(54,663)
Fair Value, Measurements, Recurring | Consolidated Funds | Swaps
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	1,655	4,217
Total derivatives	(682,625)	(183,359)
Fair Value, Measurements, Recurring | Consolidated Funds | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	40,932	36,568
Total derivatives	(5,656)	(14,969)
Fair Value, Measurements, Recurring | Consolidated Funds | Swaptions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	46	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	10,325,850	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	8,543,871	8,294,218
Fair Value, Measurements, Recurring | Consolidated Funds | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	14,072,661	15,592,621
Fair Value, Measurements, Recurring | Consolidated Funds | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	1,684,024	1,323,900
Fair Value, Measurements, Recurring | Consolidated Funds | Real estate
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	9,935,730	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	3,117,556	2,399,105
Fair Value, Measurements, Recurring | Consolidated Funds | Other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	4,730	16,521
Fair Value, Measurements, Recurring | Consolidated Funds | Level I
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	5,073,435	6,050,715
Total derivatives	3,985	0
Total assets	5,077,420	6,050,715
Total derivatives	0	(11,051)
Total liabilities	(115,463)	(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	3,985	0
Total derivatives	0	(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	2,385	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	5,070,383	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	667	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	14,343,946	14,180,699
Total derivatives	145,238	296,197
Total assets	14,489,184	14,476,896
Total derivatives	(721,676)	(231,771)
Total liabilities	(721,676)	(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	106,590	254,929
Total derivatives	(46,079)	(54,663)
Fair Value, Measurements, Recurring | Consolidated Funds | Level II | Swaps
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	1,655	4,217
Total derivatives	(669,941)	(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	36,947	36,568
Total derivatives	(5,656)	(3,918)
Fair Value, Measurements, Recurring | Consolidated Funds | Level II | Swaptions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total derivatives	46	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	8,508,989	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	5,607,494	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	227,463	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	28,267,041	26,302,385
Total derivatives	0	0
Total assets	28,267,041	26,302,385
Total derivatives	(12,684)	(10,687)
Total liabilities	(12,684)	(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	(12,684)	(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	1,816,861	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	2,933,992	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	8,774,815	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	1,683,357	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	9,935,730	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	3,117,556	2,399,105
Fair Value, Measurements, Recurring | Consolidated Funds | Level III | Other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	4,730	15,576
Fair Value, Measurements, Recurring | Equity securities: | Consolidated Funds
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	(115,463)	(64,438)
Fair Value, Measurements, Recurring | Equity securities: | Consolidated Funds | Level I
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	(115,463)	(64,438)
Fair Value, Measurements, Recurring | Equity securities: | Consolidated Funds | Level II
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Equity securities	0	0
Fair Value, Measurements, Recurring | Equity securities: | 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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 28,025,524	$ 24,379,356	$ 26,291,698	$ 21,465,845
Transfers into Level III	427,376	587,479	954,515	2,116,105
Transfers out of Level III	(813,301)	(683,526)	(1,625,389)	(2,841,932)
Purchases	1,589,983	2,830,214	5,335,941	7,556,730
Sales	(1,125,588)	(1,475,573)	(3,415,614)	(4,305,242)
Realized gains (losses), net	366,786	248,470	908,637	675,873
Unrealized appreciation (depreciation), net	(216,423)	(388,335)	(195,431)	830,706
Ending balance	28,254,357	25,498,085	28,254,357	25,498,085
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(157,450)	(16,779)	164,615	1,534,314
Corporate debt – bank debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,399,277	1,944,391	1,555,656	2,809,437
Transfers into Level III	123,811	3,976	240,344	816,797
Transfers out of Level III	(2,667)	(219,950)	(148,665)	(1,768,697)
Purchases	329,452	484,567	554,203	888,791
Sales	(31,431)	(128,806)	(372,198)	(735,809)
Realized gains (losses), net	12,070	15,274	37,477	120,750
Unrealized appreciation (depreciation), net	(13,651)	(67,489)	(49,956)	(99,306)
Ending balance	1,816,861	2,031,963	1,816,861	2,031,963
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(6,205)	(85,726)	(23,824)	(44,291)
Corporate debt – all other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2,915,374	2,346,508	2,750,661	2,432,179
Transfers into Level III	0	151,436	17,208	313,982
Transfers out of Level III	(136,524)	0	(246,608)	(18,871)
Purchases	244,669	222,089	811,132	501,385
Sales	(84,072)	(80,736)	(247,423)	(689,974)
Realized gains (losses), net	359	(31,977)	(32,140)	87,061
Unrealized appreciation (depreciation), net	(5,814)	(49,653)	(118,838)	(68,095)
Ending balance	2,933,992	2,557,667	2,933,992	2,557,667
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(24,711)	(7,465)	(68,639)	72,149
Equities – common stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	9,703,009	8,334,621	9,056,579	6,700,015
Transfers into Level III	175,304	428,142	552,867	852,824
Transfers out of Level III	(674,001)	(382,830)	(1,197,424)	(876,178)
Purchases	90,460	1,547,303	1,284,587	3,068,812
Sales	(560,077)	(160,046)	(1,002,296)	(477,359)
Realized gains (losses), net	186,815	11,350	120,689	76,760
Unrealized appreciation (depreciation), net	(146,695)	(226,463)	(40,187)	207,203
Ending balance	8,774,815	9,552,077	8,774,815	9,552,077
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(286,881)	(25,962)	(72,798)	533,070
Equities – preferred stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,659,738	1,200,716	1,320,752	919,771
Transfers into Level III	0	0	15,835	0
Transfers out of Level III	(109)	(76,821)	(32,692)	(83,365)
Purchases	50,818	73,276	255,946	249,973
Sales	(5,192)	(1,208)	(60,139)	(69,486)
Realized gains (losses), net	1,658	(893)	39,042	(16,978)
Unrealized appreciation (depreciation), net	(23,556)	44,324	144,613	239,479
Ending balance	1,683,357	1,239,394	1,683,357	1,239,394
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	97,407	83,015	206,869	264,924
Real estate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	9,572,902	8,020,570	9,216,056	6,221,294
Transfers into Level III	128,261	3,925	128,261	132,502
Transfers out of Level III		(3,925)		(94,821)
Purchases	361,312	453,157	1,310,886	2,146,535
Sales	(256,571)	(690,580)	(1,241,926)	(1,268,380)
Realized gains (losses), net	99,539	167,963	578,596	264,088
Unrealized appreciation (depreciation), net	30,287	(151,904)	(56,143)	397,988
Ending balance	9,935,730	7,799,206	9,935,730	7,799,206
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	105,450	(42,386)	197,926	556,131
Real estate loan portfolios
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2,779,472	2,516,827	2,399,105	2,369,441
Transfers into Level III	0	0	0	0
Transfers out of Level III		0		0
Purchases	513,272	48,822	1,119,187	699,234
Sales	(188,245)	(413,965)	(491,632)	(1,064,002)
Realized gains (losses), net	66,345	87,627	164,973	145,066
Unrealized appreciation (depreciation), net	(53,288)	58,587	(74,077)	148,159
Ending balance	3,117,556	2,297,898	3,117,556	2,297,898
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(38,805)	58,587	(74,077)	148,159
Swaps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(8,644)	836	(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	(4,040)	3,257	(1,997)	4,093
Ending balance	(12,684)	4,093	(12,684)	4,093
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(4,039)	3,257	(1,996)	4,093
Other:
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	4,396	14,887	3,576	13,708
Transfers into Level III	0	0	0	0
Transfers out of Level III		0		0
Purchases		1,000		2,000
Sales		(232)		(232)
Realized gains (losses), net		(874)		(874)
Unrealized appreciation (depreciation), net	334	1,006	1,154	1,185
Ending balance	4,730	15,787	4,730	15,787
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$ 334	$ (99)	$ 1,154	$ 79

FAIR VALUE - Additional Informa

FAIR VALUE - Additional Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2014USD ($)investment
Fair Value Disclosures [Abstract]
Transfers between level II and I | $	$ 739.7
Number of exchange-traded investments - decrease	3
Number of exchange-traded investments - increase	1

FAIR VALUE - Summary of Valuati

FAIR VALUE - Summary of Valuation Techniques and Quantitative Information (Detail) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)loaninvestment	Sep. 30, 2014investment	Dec. 31, 2014USD ($)	Feb. 28, 2014USD ($)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 47,684,422		$ 46,533,799	$ 312,900
Number of investments that changed valuation technique | investment	10
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	1
Number of loans | loan	10
Equity securities:
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of investments that changed valuation technique | investment	1	1
Equity securities: | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of investments that changed valuation technique | investment		1
Equity securities: | Recent market information
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	1
Consolidated Funds
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 47,684,422		46,533,799
Consolidated Funds | Level III
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	28,254,357		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	$ 261,456		$ 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)	14.00%		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)	12.00%		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	$ 465,696		$ 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	$ 110,104		$ 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	120,922		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	$ 529,756		$ 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)	6.00%		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	$ 250,237		$ 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	177,634		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	$ 247,235		$ 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	1.1		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	1.5		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	1.2		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	$ 207,569		$ 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)	500.00%		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)	1500.00%		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)	0.00%		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	$ 7,658		$ 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	8		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	7		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	$ 21,100		$ 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	21,945		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	$ 239,945		$ 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	0.7		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
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	0.9		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	$ 55,679		$ 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)	11.00%		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)	13.00%		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: | Information technology | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 182,868
Consolidated Funds | Level III | Credit-oriented investments: | Information technology | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	6.00%
Consolidated Funds | Level III | Credit-oriented investments: | Information technology | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	13.00%
Consolidated Funds | Level III | Credit-oriented investments: | Information technology | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	12.00%
Consolidated Funds | Level III | Credit-oriented investments: | Information technology | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 143,705
Consolidated Funds | Level III | Credit-oriented investments: | Information technology | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	6
Consolidated Funds | Level III | Credit-oriented investments: | Information technology | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	8
Consolidated Funds | Level III | Credit-oriented investments: | Information technology | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	7
Consolidated Funds | Level III | Credit-oriented investments: | Information technology | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 61,856
Consolidated Funds | Level III | Credit-oriented investments: | Information technology | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	71,245
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 454,015		$ 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)	14.00%		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)	13.00%		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	$ 134,581		$ 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	8		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	$ 7,198		$ 64,490
Consolidated Funds | Level III | Credit-oriented investments: | Materials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	5,969
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	$ 395,972		$ 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)	11.00%		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	$ 23,013		$ 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	6		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	7		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	$ 178,480		$ 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	145,615		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	$ 169,003
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 | Credit-oriented investments: | Energy | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 47,713
Consolidated Funds | Level III | Equity securities: | Financials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	242,602		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	153,457		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	$ 971,070		$ 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	1.5		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	1.3		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 | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 37,130
Consolidated Funds | Level III | Equity securities: | Industrials | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	10.00%
Consolidated Funds | Level III | Equity securities: | Industrials | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	12.00%
Consolidated Funds | Level III | Equity securities: | Industrials | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate (as a percent)	11.00%
Consolidated Funds | Level III | Equity securities: | Industrials | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 1,898,275		$ 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	$ 277,231		$ 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	181,107		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	$ 1,451,622		$ 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	$ 1,255,972		$ 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	7		4
Consolidated Funds | Level III | Equity securities: | Materials | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	9		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	$ 25,133		$ 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	$ 2,260,092		$ 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	12		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	$ 222,512		$ 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	152,080		151,933
Consolidated Funds | Level III | Equity securities: | Other | Other
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	271,089
Consolidated Funds | Level III | Equity securities: | Energy | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value			$ 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%
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%
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%
Consolidated Funds | Level III | Equity securities: | Energy | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 776,064		$ 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	18		18
Consolidated Funds | Level III | Equity securities: | Energy | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	15		12
Consolidated Funds | Level III | Equity securities: | Energy | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 64,524		$ 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	32,121
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	$ 4,113,712		$ 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)	50.00%		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)	12.00%		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)	37.00%		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	13		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	13		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	$ 578,071		$ 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	1,410,002		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	$ 2,383,897		$ 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	$ 954,208		$ 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	$ 75,591		$ 49,799
Consolidated Funds | Level III | Real estate-oriented investments: | Discounted cash flow / Sales approach
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 106,006
Consolidated Funds | Level III | Real estate-oriented investments: | 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 | Real estate-oriented investments: | 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 | Real estate-oriented investments: | 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 | Real estate-oriented investments: | Recent market information / Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 96,816		$ 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%
Quoted prices / discount (as a percent)	1000.00%
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%
Quoted prices / discount (as a percent)	1200.00%
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%
Quoted prices / discount (as a percent)	1100.00%
Consolidated Funds | Level III | Real estate loan portfolios | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 2,209,112		$ 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	$ 908,444		$ 379,844
Consolidated Funds | Level III | Other
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Total investments, at fair value	$ 4,730		$ 15,576

HEDGES AND OTHER DERIVATIVE I47

HEDGES AND OTHER DERIVATIVE INSTRUMENTS - Additional Information (Detail)	1 Months Ended		9 Months Ended
	Feb. 28, 2014USD ($)	Aug. 31, 2013USD ($)	Sep. 30, 2015USD ($)instrument	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)instrument	Mar. 31, 2014USD ($)
Derivatives And Hedging Activities [Line Items]
Total investments, at fair value	$ 312,900,000		$ 47,684,422,000		$ 46,533,799,000
Interest receivable	1,000,000
Cash payments	258,200,000		41,289,000	$ 23,381,000
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 | instrument			2		2
Notional value of interest-rate swaps			$ 157,500,000		$ 180,000,000
Contract amount			$ 326,300,000		$ 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	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2015JPY (¥)	Sep. 30, 2015EUR (€)	Dec. 31, 2014JPY (¥)	Dec. 31, 2014EUR (€)
Derivative [Line Items]
Contract amount	$ 401,149	$ 425,434
Market Value in U.S. Dollars	393,865	404,374
Net Unrealized Appreciation (Depreciation)	7,284	21,060
Euro
Derivative [Line Items]
Contract amount	261,218	266,569		€ 226,700		€ 206,820
Market Value in U.S. Dollars	254,008	250,789
Net Unrealized Appreciation (Depreciation)	$ 7,210	$ 15,780
Euro | Minimum
Derivative [Line Items]
Expiration date	Oct. 8, 2015	Jan. 8, 2015
Euro | Maximum
Derivative [Line Items]
Expiration date	Oct. 7, 2016	Dec. 31, 2015
USD
Derivative [Line Items]
Contract amount	$ 81,550	$ 88,081
Market Value in U.S. Dollars	82,250	91,485
Net Unrealized Appreciation (Depreciation)	$ (700)	$ (3,404)
USD | Minimum
Derivative [Line Items]
Expiration date	Oct. 30, 2015	Jan. 8, 2015
USD | Maximum
Derivative [Line Items]
Expiration date	Jul. 29, 2016	Dec. 31, 2015
Japanese Yen
Derivative [Line Items]
Contract amount	$ 58,381	$ 70,784	¥ 6,884,500		¥ 7,420,600
Market Value in U.S. Dollars	57,607	62,100
Net Unrealized Appreciation (Depreciation)	$ 774	$ 8,684
Japanese Yen | Minimum
Derivative [Line Items]
Expiration date	Dec. 30, 2015	Jan. 30, 2015
Japanese Yen | Maximum
Derivative [Line Items]
Expiration date	Sep. 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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains and losses from freestanding derivative instruments	$ (4,452)	$ 17,231	$ 18,389	$ 18,325
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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Foreign Currency Contracts - Long
Derivatives, Fair Value [Line Items]
Average notional amount			$ 5,300,000
Foreign Currency Contracts - Short
Derivatives, Fair Value [Line Items]
Average notional amount			342,200
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			17,300
Not Designated as Hedging Instrument | Consolidated Funds
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	$ (33,005)	$ (17,037)	424,147	$ (88,198)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(196,994)	331,687	(646,241)	302,356
Not Designated as Hedging Instrument | Consolidated Funds | Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	(60,419)	(12,035)	410,891	(106,223)
Net Change in Unrealized Appreciation (Depreciation) on Investments	177,621	346,855	(141,443)	342,592
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	10,129	(2,829)	2,955	41,086
Net Change in Unrealized Appreciation (Depreciation) on Investments	(387,399)	(22,726)	(503,625)	(36,290)
Not Designated as Hedging Instrument | Consolidated Funds | Options and futures
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	17,291	(1,507)	13,314	(22,395)
Net Change in Unrealized Appreciation (Depreciation) on Investments	12,849	6,233	(3,450)	41
Not Designated as Hedging Instrument | Consolidated Funds | Swaptions
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	(6)	(666)	(3,013)	(666)
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ (65)	$ 1,325	$ 2,277	$ (3,987)

HEDGES AND OTHER DERIVATIVE I51

HEDGES AND OTHER DERIVATIVE INSTRUMENTS - Balance Sheet Offsetting (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivative Assets:
Gross Amounts of Assets	$ 159,558	$ 320,696
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	159,558	320,696
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	35,258	70,616
Cash Collateral Received	0	0
Net Amount	124,300	250,080
Derivative Liabilities:
Gross Amounts of Liabilities	(739,265)	(259,265)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(739,265)	(259,265)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(186,133)	(70,617)
Cash Collateral Pledged	511,444	167,117
Net Amount	124,300	250,080
Net Amount	(41,688)	(21,531)
Oaktree Capital Group, LLC
Derivative Liabilities:
Gross Amounts of Liabilities	(4,905)	(5,756)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(4,905)	(5,756)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(4,900)	(5,756)
Cash Collateral Pledged	0
Net Amount	(5)	0
Oaktree Capital Group, LLC | Foreign currency forward contracts
Derivative Assets:
Gross Amounts of Assets	10,335	24,499
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	10,335	24,499
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	4,900	5,756
Cash Collateral Received	0	0
Net Amount	5,435	18,743
Derivative Liabilities:
Gross Amounts of Liabilities	(3,051)	(3,439)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(3,051)	(3,439)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(3,046)	(3,439)
Cash Collateral Pledged	0
Net Amount	5,435	18,743
Net Amount	(5)	0
Oaktree Capital Group, LLC | Interest-rate swaps
Derivative Liabilities:
Gross Amounts of Liabilities	(1,854)	(2,317)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(1,854)	(2,317)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(1,854)	(2,317)
Cash Collateral Pledged	0
Net Amount	0	0
Consolidated Funds
Derivative Assets:
Gross Amounts of Assets	149,223	296,197
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	149,223	296,197
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	30,358	64,860
Cash Collateral Received	0	0
Net Amount	118,865	231,337
Derivative Liabilities:
Gross Amounts of Liabilities	(734,360)	(253,509)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(734,360)	(253,509)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(181,233)	(64,861)
Cash Collateral Pledged	511,444	167,117
Net Amount	118,865	231,337
Net Amount	(41,683)	(21,531)
Consolidated Funds | Foreign currency forward contracts
Derivative Assets:
Gross Amounts of Assets	106,590	254,929
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	106,590	254,929
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	12,234	51,260
Cash Collateral Received	0	0
Net Amount	94,356	203,669
Derivative Liabilities:
Gross Amounts of Liabilities	(46,079)	(54,663)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(46,079)	(54,663)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(21,668)	(51,088)
Cash Collateral Pledged	7,323	0
Net Amount	94,356	203,669
Net Amount	(17,088)	(3,575)
Consolidated Funds | Total-return, credit-default and interest-rate swaps
Derivative Assets:
Gross Amounts of Assets	1,655	4,217
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	1,655	4,217
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	129	512
Cash Collateral Received	0	0
Net Amount	1,526	3,705
Derivative Liabilities:
Gross Amounts of Liabilities	(682,625)	(183,359)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(682,625)	(183,359)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(153,944)	(9,427)
Cash Collateral Pledged	504,086	156,011
Net Amount	1,526	3,705
Net Amount	(24,595)	(17,921)
Consolidated Funds | Options and futures
Derivative Assets:
Gross Amounts of Assets	40,932	36,568
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	40,932	36,568
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	17,949	12,605
Cash Collateral Received	0	0
Net Amount	22,983	23,963
Derivative Liabilities:
Gross Amounts of Liabilities	(5,656)	(14,969)
Gross Amounts Offset in Liabilities	0	0
Derivative liabilities	(5,656)	(14,969)
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Liabilities	(5,621)	(3,863)
Cash Collateral Pledged	35	11,106
Net Amount	22,983	23,963
Net Amount	0	0
Consolidated Funds | Swaptions
Derivative Assets:
Gross Amounts of Assets	46	483
Gross Amounts Offset in Assets	0	0
Derivative assets, at fair value	46	483
Gross Amounts Not Offset in Statements of Financial Condition
Derivative Assets	46	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	Sep. 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)	9 Months Ended
	Sep. 30, 2015USD ($)
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	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	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	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	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	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	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	Sep. 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	9 Months Ended
	Mar. 31, 2014	Sep. 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		2,351,272,000	1,601,535,000
Consolidated Funds | Revolving Credit Facility
Debt Instrument [Line Items]
Credit agreement		$ 400,000,000
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				3.91%
Senior Notes | 4.01% Senior Notes, Series B | Guarantor Subsidiaries
Debt Instrument [Line Items]
Debt obligations				$ 100,000,000
Stated percentage				4.01%
Senior Notes | 4.21% Senior Notes, Series C | Guarantor Subsidiaries
Debt Instrument [Line Items]
Debt obligations				$ 100,000,000
Stated percentage				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		$ 874,500,000	$ 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		$ 859,300,000
Percentage decrease in average borrowing rate assumption that would increase fair value of debt obligation		10.00%
Fair value of debt obligation increase in value due to decrease in average borrowing rate		$ 890,300,000
Level III | Consolidated Funds | Senior Notes
Debt Instrument [Line Items]
Debt obligation, fair value		$ 3,500,000,000	$ 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	9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2015EUR (€)	Dec. 31, 2014USD ($)
Line of Credit Facility [Line Items]
Outstanding Amount	$ 6,228,361		$ 4,704,852
Credit Facility 1
Line of Credit Facility [Line Items]
Outstanding Amount	434,000		434,000
Facility Capacity	$ 434,000
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	$ 499,627		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	$ 402,457		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	$ 84,662		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	$ 240,000		0
Facility Capacity	$ 325,000
LIBOR margin (as a percent)	1.25%
Maturity	Apr. 11, 2017
Credit Facility 2 | LIBOR | Through November 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	$ 332,762		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	$ 76,870		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	$ 39,202		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	$ 64,825		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	$ 36,973		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	$ 59,846		50,054
Facility Capacity	$ 400,000
LIBOR margin (as a percent)	3.05%
Maturity	Aug. 13, 2016
Commitment Fee Rate (as a percent)	0.25%
L/C fee (as a percent)	2.00%	2.00%
Revolving Credit Facility 1
Line of Credit Facility [Line Items]
Outstanding Amount	$ 0		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	$ 951,366		0
Facility Capacity	$ 1,400,000
LIBOR margin (as a percent)	1.50%
Maturity	Mar. 18, 2018
Commitment Fee Rate (as a percent)	0.60%
L/C fee (as a percent)	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 (as a percent)	2.00%	2.00%
Revolving Credit Facility 4
Line of Credit Facility [Line Items]
Outstanding Amount	$ 81,491		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 (as a percent)	2.00%	2.00%
Revolving Credit Facility 5
Line of Credit Facility [Line Items]
Outstanding Amount	$ 0		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 (as a percent)	1.50%	1.50%
Euro Denominated Revolving Credit Facility 2
Line of Credit Facility [Line Items]
Outstanding Amount	$ 590,803		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 (as a percent)	1.65%	1.65%
Euro Denominated Revolving Credit Facility 3
Line of Credit Facility [Line Items]
Outstanding Amount	$ 0		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 (as a percent)	2.35%	2.35%
Euro Denominated Revolving Credit Facility 4
Line of Credit Facility [Line Items]
Outstanding Amount	$ 93,430		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 (as a percent)	1.95%	1.95%
Revolving Credit Facility 11
Line of Credit Facility [Line Items]
Outstanding Amount	$ 0		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	$ 434,904		201,739
Facility Capacity	$ 500,000
LIBOR margin (as a percent)	1.60%
Maturity	Jan. 16, 2017
Commitment Fee Rate (as a percent)	0.25%
L/C fee (as a percent)	1.60%	1.60%
Revolving Credit Facility 13
Line of Credit Facility [Line Items]
Outstanding Amount	$ 49,905		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	$ 72,688		88,000
Facility Capacity	$ 72,688
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	$ 8,000		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	$ 242,661		93,943
Facility Capacity	$ 350,000
LIBOR margin (as a percent)	1.60%
Maturity	Sep. 8, 2016
Commitment Fee Rate (as a percent)	0.25%
L/C fee (as a percent)	2.00%	2.00%
Credit facility 3
Line of Credit Facility [Line Items]
Outstanding Amount	$ 59,996		0
Facility Capacity	$ 59,996
LIBOR margin (as a percent)	4.50%
Maturity	Mar. 21, 2018
Revolving Credit Facility 18
Line of Credit Facility [Line Items]
Outstanding Amount	$ 100,800		0
Facility Capacity	$ 400,000
LIBOR margin (as a percent)	1.45%
Maturity	Jul. 14, 2017
Commitment Fee Rate (as a percent)	0.25%
L/C fee (as a percent)	1.45%	1.45%
Revolving Credit Facility Seventeen 19
Line of Credit Facility [Line Items]
Outstanding Amount	$ 16,743		0
Facility Capacity | €		€ 95,000
LIBOR margin (as a percent)	2.25%
Maturity	Sep. 1, 2017
Commitment Fee Rate (as a percent)	0.50%
Revolving Credit Facility 17
Line of Credit Facility [Line Items]
Outstanding Amount	$ 33,151		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 (as a percent)	1.75%	1.75%
Credit facility 4
Line of Credit Facility [Line Items]
Outstanding Amount	$ 179,699		214,423
Facility Capacity	$ 179,699
LIBOR margin (as a percent)	1.99%
Credit facility 4 | February 2016
Line of Credit Facility [Line Items]
Outstanding Amount	$ 28,200
Credit facility 4 | March 2016
Line of Credit Facility [Line Items]
Outstanding Amount	151,500
Standby Letters of Credit
Line of Credit Facility [Line Items]
Letters of credit outstanding	$ 451,254		$ 43,326

DEBT OBLIGATIONS AND CREDIT F57

DEBT OBLIGATIONS AND CREDIT FACILITIES - Collateralized Loan Obligation Loans Payable (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2015EUR (€)
Debt Instrument [Line Items]
Debt obligations	$ 850,000	$ 850,000
Consolidated Funds
Debt Instrument [Line Items]
Debt obligations	2,351,272	1,601,535
Collateralized Loan Obligations | Consolidated Funds
Debt Instrument [Line Items]
Debt obligations	2,351,272	1,601,535
Collateralized Loan Obligations | Consolidated Funds | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	2,316,322	1,591,911
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 1
Debt Instrument [Line Items]
Debt obligations	$ 457,054	$ 456,567
Weighted average interest rate (as a percent)	2.33%	2.25%	2.33%
Weighted Average Remaining Maturity (in years)	9 years 6 months	10 years 3 months 18 days
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 1 | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 454,500	$ 449,167
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 1 | Estimate of Fair Value Measurement | 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	$ 454,269	$ 453,821
Weighted average interest rate (as a percent)	2.49%	2.43%	2.49%
Weighted Average Remaining Maturity (in years)	11 years 2 months 12 days	12 years
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 2 | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 452,769	$ 454,274
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 2 | Estimate of Fair Value Measurement | 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	$ 97,603	$ 85,776
Weighted average interest rate (as a percent)	2.68%	2.61%	2.68%
Weighted Average Remaining Maturity (in years)	3 years 3 months 15 days	4 years
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 3 | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 96,681	$ 85,468
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 3 | Estimate of Fair Value Measurement | 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 | 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	$ 373,706	$ 405,018
Weighted average interest rate (as a percent)	2.26%	2.32%	2.26%
Weighted Average Remaining Maturity (in years)	12 years	12 years 8 months 1 day
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 4 | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 370,102	$ 402,649
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 4 | Estimate of Fair Value Measurement | 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	$ 455,175
Weighted average interest rate (as a percent)	2.54%		2.54%
Weighted Average Remaining Maturity (in years)	12 years 2 months 12 days
LIBOR margin (as a percent)	2.10%
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 5 | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 452,710
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 6
Debt Instrument [Line Items]
Debt obligations	$ 370,984
Weighted average interest rate (as a percent)	2.46%		2.46%
Weighted Average Remaining Maturity (in years)	12 years 7 months 18 days
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 6 | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 372,555
Collateralized Loan Obligations | Consolidated Funds | Senior variable rate notes 6 | Estimate of Fair Value Measurement | EURIBOR
Debt Instrument [Line Items]
LIBOR margin (as a percent)	2.46%
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 2 months 12 days	12 years
Collateralized Loan Obligations | Consolidated Funds | Subordinated note 1 | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 19,190	$ 25,500
Collateralized Loan Obligations | Consolidated Funds | Subordinated note 2
Debt Instrument [Line Items]
Debt obligations	$ 21,627	$ 23,596
Weighted Average Remaining Maturity (in years)	12 years	12 years 8 months 1 day
Collateralized Loan Obligations | Consolidated Funds | Subordinated note 2 | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 14,222	$ 23,596
Collateralized Loan Obligations | Consolidated Funds | Junior Subordinated Debt Three [Member]
Debt Instrument [Line Items]
Debt obligations	$ 25,500
Weighted Average Remaining Maturity (in years)	12 years 2 months 12 days
Collateralized Loan Obligations | Consolidated Funds | Junior Subordinated Debt Three [Member] | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 19,876
Collateralized Loan Obligations | Consolidated Funds | Subordinated note 3
Debt Instrument [Line Items]
Debt obligations	$ 18,418
Weighted Average Remaining Maturity (in years)	12 years 7 months 18 days
Collateralized Loan Obligations | Consolidated Funds | Subordinated note 3 | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 12,281
Collateralized Loan Obligations | Consolidated Funds | Junior Subordinated Debt Four [Member]
Debt Instrument [Line Items]
Debt obligations	$ 6,637
Weighted Average Remaining Maturity (in years)	1 year 9 months 18 days
Credit agreement | €			€ 25,000,000
Collateralized Loan Obligations | Consolidated Funds | Junior Subordinated Debt Four [Member] | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 6,637
Collateralized Loan Obligations | Consolidated Funds | Term Loan 1
Debt Instrument [Line Items]
Debt obligations	$ 44,799
Weighted average interest rate (as a percent)	1.20%		1.20%
Weighted Average Remaining Maturity (in years)	1 year 9 months 18 days
LIBOR margin (as a percent)	1.20%
Unused commitment fee (as a percent)	0.30%
Credit agreement | €			€ 150,000,000
Collateralized Loan Obligations | Consolidated Funds | Term Loan 1 | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable	$ 44,799
Collateralized Loan Obligations | Consolidated Funds | Term Loan 2
Debt Instrument [Line Items]
Debt obligations		$ 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 Loan 2 | Estimate of Fair Value Measurement
Debt Instrument [Line Items]
Collateralized loan obligation loans payable		$ 151,257
Variable Interest Entity, Primary Beneficiary
Debt Instrument [Line Items]
Assets backing the obligation	$ 2,900,000

DEBT OBLIGATIONS AND CREDIT F58

DEBT OBLIGATIONS AND CREDIT FACILITIES - Future Principal Payments with Respect to the CLO Loans Payable (Details) - USD ($) $ in Thousands	Sep. 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	2,351,272	1,601,535
Collateralized Loan Obligations | Consolidated Funds
Debt Instrument [Line Items]
Total	2,351,272	$ 1,601,535
Collateralized Loan Obligations | Consolidated Funds | CLO
Debt Instrument [Line Items]
Remainder of 2015	0
2,016	51,436
2,017	0
2,018	97,603
2,019	0
Thereafter	2,202,233
Total	$ 2,351,272

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	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Non-Controlling Redeemable Interests in Consolidated Funds [Roll Forward]
Beginning balance	$ 41,681,155	$ 38,834,831
Contributions	4,654,438	7,250,262
Distributions	(4,595,694)	(5,971,132)
Net income	(1,037,265)	1,842,779
Change in distributions payable	566,609	(944)
Change in accrued or deferred contributions	13,467	(7,000)
Initial consolidation of a fund	0	902,979
Foreign currency translation and other	(341,899)	(388,447)
Ending balance	$ 40,940,811	$ 42,463,328

UNITHOLDERS' CAPITAL - Addition

UNITHOLDERS' CAPITAL - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Total unitholders’ capital	$ 1,821,432	$ 1,850,871	$ 1,821,432	$ 1,850,871	$ 1,840,130	$ 1,708,378
OCGH non-controlling interest	$ (10,767)	(67,551)	$ (174,377)	(322,922)
OCGH
Class of Stock [Line Items]
Subsidiary Units Outstanding	105,317,704		105,317,704		109,088,901
Total unitholders’ capital	$ 1,093,184		$ 1,093,184		$ 1,170,893
OCGH non-controlling interest	$ (5,320)	(64,683)	$ (167,230)	(320,054)
Oaktree Operating Group
Class of Stock [Line Items]
Unitholders' capital (in shares)	153,989,363		153,989,363		152,852,620
Total unitholders’ capital	$ 1,598,395		$ 1,598,395		$ 1,640,594
OCGH non-controlling interest	4,899	$ 2,868	5,503	$ 2,868
Equity Held by Third Parties
Class of Stock [Line Items]
Total unitholders’ capital	$ 99,959		$ 99,959		$ 95,068

UNITHOLDERS' CAPITAL - Summary

UNITHOLDERS' CAPITAL - Summary of Net Income (Loss) (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Weighted average Oaktree Operating Group units outstanding (in thousands):
Weighted average number of Class A units outstanding (in shares)	48,440	43,480	47,304	42,234
Oaktree Operating Group net income:
Oaktree Operating Group net income:	$ (1,766,571)	$ (578,960)	$ (800,190)	$ 2,268,467
Net income (loss) attributable to Oaktree Capital Group, LLC:
Income tax expense of Intermediate Holding Companies	(1,893)	(5,341)	(15,253)	(19,088)
Net income attributable to Oaktree Capital Group, LLC	$ 1,887	$ 18,913	$ 59,954	$ 101,893
OCGH non-controlling interest
Weighted average Oaktree Operating Group units outstanding (in thousands):
Weighted average number of Class A units outstanding (in shares)	105,505	109,329	106,372	110,362
Oaktree Operating Group net income:
Oaktree Operating Group net income:	$ 5,868	$ 64,683	$ 168,874	$ 320,054
Class A Unitholders
Weighted average Oaktree Operating Group units outstanding (in thousands):
Weighted average number of Class A units outstanding (in shares)	48,440	43,480	47,304	42,234
Oaktree Operating Group net income:
Oaktree Operating Group net income:	$ 2,694	$ 25,725	$ 72,882	$ 119,957
Oaktree Operating Group
Weighted average Oaktree Operating Group units outstanding (in thousands):
Weighted average number of Class A units outstanding (in shares)	153,945	152,809	153,676	152,596
Oaktree Operating Group net income:
Oaktree Operating Group net income:	$ 8,562	$ 90,408	$ 241,756	$ 440,011
Oaktree Capital Group, LLC
Net income (loss) attributable to Oaktree Capital Group, LLC:
Oaktree Operating Group net income attributable to Class A unitholders	2,694	25,725	72,882	119,957
Non-Operating Group expenses	(464)	(264)	(1,424)	(1,149)
Income tax expense of Intermediate Holding Companies	(343)	(6,548)	(11,504)	(16,915)
Net income attributable to Oaktree Capital Group, LLC	$ 1,887	$ 18,913	$ 59,954	$ 101,893

UNITHOLDERS' CAPITAL - Changes

UNITHOLDERS' CAPITAL - Changes in Company Ownership Interest (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Stockholders' Equity Note [Abstract]
Net income attributable to Oaktree Capital Group, LLC	$ 1,887	$ 18,913	$ 59,954	$ 101,893
Equity reallocation between controlling and non-controlling interests	2,496	(391)	47,698	48,725
Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests	$ 4,383	$ 18,522	$ 107,652	$ 150,618

UNITHOLDERS' CAPITAL - Offering

UNITHOLDERS' CAPITAL - Offering (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014
Class of Stock [Line Items]
Proceeds from issuance of Class A units, net		$ 237,820	$ 296,650
Class A Units
Class of Stock [Line Items]
Issuance of units (in shares)	4,600,000	4,908,000	5,007,000
Proceeds from issuance of Class A units, net	$ 237,800

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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share [Abstract]
Net income	$ 1,887	$ 18,913	$ 59,954	$ 101,893
Weighted average number of Class A units outstanding (in shares)	48,440	43,480	47,304	42,234
Basic and diluted net income per Class A unit (in dollars per share)	$ 0.04	$ 0.43	$ 1.27	$ 2.41

EARNINGS PER UNIT - Computati65

EARNINGS PER UNIT - Computations of Net Income (Loss) Per Unit (Additional Information) (Detail) - shares	1 Months Ended	9 Months Ended
	Aug. 31, 2014	Sep. 30, 2015
OCGH Units
Earnings Per Share [Line Items]
OCGH Issued (in shares)		105,317,704
Class A Units
Earnings Per Share [Line Items]
OCGH units represented (in shares)		105,317,704
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) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)	1,175,213
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 | $	$ 148.4
Weighted average period of recognition non-vested equity-based awards (in years)	4 years 6 months
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)	1,175,213
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)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Number of Units (in shares)
Granted	1,175,213
Class A Units
Number of Units (in shares)
Beginning balance	19,049
Granted	7,940
Vested	(5,688)
Forfeited	0
Ending balance	21,301
Weighted Average Grant Date Fair Value (in dollars per share)
Beginning balance | $ / shares	$ 50.63
Granted | $ / shares	55.75
Vested | $ / shares	49.14
Forfeited | $ / shares	0
Ending balance | $ / shares	$ 52.94
OCGH Units
Number of Units (in shares)
Beginning balance	5,070,992
Granted	1,175,213
Vested	(1,385,577)
Forfeited	(110,359)
Ending balance	4,750,269
Weighted Average Grant Date Fair Value (in dollars per share)
Beginning balance | $ / shares	$ 36.21
Granted | $ / shares	44.04
Vested | $ / shares	32.36
Forfeited | $ / shares	36.41
Ending balance | $ / shares	$ 39.27

EQUITY-BASED COMPENSATION - Sch

EQUITY-BASED COMPENSATION - Schedule of Unvested Units Expected to Vest (Detail) - shares	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Class A Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units (in shares)	21,301	19,049
Weighted Average Remaining Service Term (in years)	2 years 7 months 6 days
OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Units (in shares)	4,750,269	5,070,992
Weighted Average Remaining Service Term (in years)	4 years 6 months

EQUITY-BASED COMPENSATION - Equ

EQUITY-BASED COMPENSATION - Equity Value Units (Details) - USD ($) $ in Millions	Feb. 24, 2015	Dec. 02, 2014	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of units granted (in shares)			1,175,213
Unrecognized compensation expense on non-vested equity-based awards			$ 148.4
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			$ 11.3
Weighted Average Remaining Service Term (in years)			4 years 3 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
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

INCOME TAXES AND RELATED PAYM70

INCOME TAXES AND RELATED PAYMENTS (Details) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)entity
Income Tax Disclosure [Abstract]
Subsidiary subject to income tax | entity	2
Subsidiary not subject to income tax | entity	3
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	9 Months Ended
	Aug. 31, 2014	Sep. 30, 2015	Sep. 30, 2015	Dec. 31, 2014
Contingencies And Commitments [Line Items]
Accrued incentives (fund level)		$ 1,712,082,000	$ 1,712,082,000	$ 1,915,107,000
Compensation expense related to accrued incentives (fund level)		832,997,000	832,997,000	930,572,000
Capital commitments		436,600,000	436,600,000	256,000,000
Consolidated Funds
Contingencies And Commitments [Line Items]
Aggregate potential credit and investment commitments		1,492,200,000	1,492,200,000	$ 1,585,800,000
Consolidated Funds | Support Provided Pursuant to Contractual Agreements | Financial Support
Contingencies And Commitments [Line Items]
Other commitment		344,400,000	344,400,000
Consolidated Funds | Support Provided at the Discretion of the Company | Financial Support
Contingencies And Commitments [Line Items]
Other commitment		4,000,000,000	$ 4,000,000,000
Highstar Capital
Contingencies And Commitments [Line Items]
Contingent consideration	$ 60,000,000
Performance period (in years)	7 years		7 years
Contingent consideration		$ 29,200,000	$ 29,200,000
Discount rate (as a percent)		10.00%	10.00%
Contingent consideration expense		$ 400,000	$ 1,900,000

RELATED-PARTY TRANSACTIONS - Am

RELATED-PARTY TRANSACTIONS - Amounts Due from and Due to Affiliates (Detail) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Due from affiliates:
Loans	$ 30,092	$ 39,452
Amounts due from non-consolidated funds	2,312	2,525
Payments made on behalf of non-consolidated entities	3,787	3,221
Non-interest bearing advances made to certain non-controlling interest holders and employees	1,615	1,683
Total due from affiliates	37,806	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	0	739
Total due to affiliates	$ 370,949	$ 309,214

RELATED-PARTY TRANSACTIONS - Ad

RELATED-PARTY TRANSACTIONS - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 23, 2015	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest income		$ 1,862	$ 1,163
Buyout provision	$ 12,500
Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Due to affiliates		$ 171,401		$ 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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Management fees	$ 47,106	$ 54,243	$ 148,848	$ 146,234
Incentive income	3,385	0	3,949	0
Total revenues	50,491	54,243	152,797	146,234
Expenses:
Compensation and benefits	(101,240)	(101,482)	(319,133)	(292,509)
Equity-based compensation	(12,494)	(10,557)	(40,283)	(30,226)
Incentive income compensation	(4,907)	(43,048)	(107,010)	(170,801)
General and administrative	(37,627)	(15,294)	(77,695)	(79,197)
Depreciation and amortization	(4,032)	(2,402)	(10,031)	(6,138)
Total expenses	(190,518)	(252,401)	(672,421)	(726,105)
Interest expense, net of interest income	(56,023)	(34,564)	(155,334)	(84,263)
Other income (expense), net	6,368	2,695	13,925	1,006
Investment Management
Revenues:
Management fees	181,897	194,509	555,505	572,028
Incentive income	16,925	86,324	230,952	438,398
Investment income (loss)	(19,950)	(2,361)	56,873	98,318
Total revenues	178,872	278,472	843,330	1,108,744
Expenses:
Compensation and benefits	(96,675)	(99,402)	(306,290)	(290,234)
Equity-based compensation	(8,836)	(5,185)	(27,760)	(14,279)
Incentive income compensation	(7,596)	(39,814)	(127,252)	(207,789)
General and administrative	(33,704)	(29,687)	(84,026)	(91,380)
Depreciation and amortization	(3,031)	(1,914)	(7,027)	(5,650)
Total expenses	(149,842)	(176,002)	(552,355)	(609,332)
Adjusted net income before interest and other income (expense)	29,030	102,470	290,975	499,412
Interest expense, net of interest income	(8,388)	(7,419)	(26,103)	(20,978)
Other income (expense), net	0	10	(3,546)	(1,679)
Adjusted net income	$ 20,642	$ 95,061	$ 261,326	$ 476,755

SEGMENT REPORTING - Adjusted 75

SEGMENT REPORTING - Adjusted Net Income (Additional Information) (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)segment	Sep. 30, 2014USD ($)
Segment Reporting, Asset Reconciling Item [Line Items]
Number of segments			1
Investment Management
Segment Reporting, Asset Reconciling Item [Line Items]
Interest income | $	$ 1.7	$ 0.9	$ 3.9	$ 2.7

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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Net income attributable to Oaktree Capital Group, LLC	$ 1,887	$ 18,913	$ 59,954	$ 101,893
Equity-based compensation	12,494	10,557	40,283	30,226
Income taxes	1,893	5,341	15,253	19,088
Non-Operating Group expenses	464	264	1,424	1,149
OCGH non-controlling interest	10,767	67,551	174,377	322,922
Units Issued Prior to IPO and EVUs
Segment Reporting Information [Line Items]
Equity-based compensation	3,658	5,372	12,523	15,947
OCGH
Segment Reporting Information [Line Items]
OCGH non-controlling interest	5,320	64,683	167,230	320,054
Adjustments
Segment Reporting Information [Line Items]
Net income attributable to Oaktree Capital Group, LLC	(18,755)	(76,148)	(201,372)	(374,862)
Incentive income	8,676	(3,234)	20,249	55,124
Incentive income compensation	(2,689)	3,234	(20,242)	(36,988)
Acquisition-related items	1,433	488	4,935	488
Income taxes	1,893	5,341	15,253	19,088
OCGH non-controlling interest	10,767	67,551	174,377	322,922
Investment Management
Segment Reporting Information [Line Items]
Net income attributable to Oaktree Capital Group, LLC	20,642	95,061	261,326	476,755
Equity-based compensation	8,836	5,185	27,760	14,279
Income taxes	0	0	0	0
OCGH non-controlling interest	0	0	0	0
Adjusted net income	$ 20,642	$ 95,061	$ 261,326	$ 476,755

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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Management fees	$ 47,106	$ 54,243	$ 148,848	$ 146,234
Incentive income	3,385	0	3,949	0
Investment income (loss)	10,342	5,768	38,718	15,149
Total expenses	(190,518)	(252,401)	(672,421)	(726,105)
Interest expense, net	(56,023)	(34,564)	(155,334)	(84,263)
Other income (expense), net	6,368	2,695	13,925	1,006
Other income (loss) of Consolidated Funds	(1,585,338)	(349,360)	(162,622)	2,935,534
Income taxes	(1,893)	(5,341)	(15,253)	(19,088)
OCGH non-controlling interest	(10,767)	(67,551)	(174,377)	(322,922)
Net income attributable to Oaktree Capital Group, LLC	1,887	18,913	59,954	101,893
Corporate investments	173,574	140,736	173,574	140,736	$ 187,963
Total assets	54,858,051	52,647,451	54,858,051	52,647,451	$ 53,344,062
Investment Management
Segment Reporting, Asset Reconciling Item [Line Items]
Management fees	181,897	194,509	555,505	572,028
Incentive income	16,925	86,324	230,952	438,398
Investment income (loss)	(19,950)	(2,361)	56,873	98,318
Total expenses	(149,842)	(176,002)	(552,355)	(609,332)
Interest expense, net	(8,388)	(7,419)	(26,103)	(20,978)
Other income (expense), net	0	10	(3,546)	(1,679)
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	20,642	95,061	261,326	476,755
Corporate investments	1,465,195	1,465,211	1,465,195	1,465,211
Total assets	3,232,960	3,245,514	3,232,960	3,245,514
Adjustments
Segment Reporting, Asset Reconciling Item [Line Items]
Management fees	(134,791)	(140,266)	(406,657)	(425,794)
Incentive income	(13,540)	(86,324)	(227,003)	(438,398)
Investment income (loss)	30,292	8,129	(18,155)	(83,169)
Total expenses	(40,676)	(76,399)	(120,066)	(116,773)
Interest expense, net	(47,635)	(27,145)	(129,231)	(63,285)
Other income (expense), net	6,368	2,685	17,471	2,685
Other income (loss) of Consolidated Funds	(1,585,338)	(349,360)	(162,622)	2,935,534
Income taxes	(1,893)	(5,341)	(15,253)	(19,088)
OCGH non-controlling interest	(10,767)	(67,551)	(174,377)	(322,922)
Net income attributable to Oaktree Capital Group, LLC	(18,755)	(76,148)	(201,372)	(374,862)
Corporate investments	(1,291,621)	(1,324,475)	(1,291,621)	(1,324,475)
Total assets	51,625,091	49,401,937	51,625,091	49,401,937
Non-controlling Interests in Consolidated Funds
Segment Reporting, Asset Reconciling Item [Line Items]
Net income (loss) attributable to non-controlling interests in consolidated funds	1,779,225	665,424	1,034,521	(1,843,652)
OCGH non-controlling interest	1,779,225	665,424	1,034,521	(1,843,652)
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	$ 1,779,225	$ 665,424	$ 1,034,521	$ (1,843,652)

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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Equity-based compensation	$ 12,494	$ 10,557	$ 40,283	$ 30,226
Consolidated fund expenses	31,400	64,356	103,831	133,492
Expenses incurred by Intermediate Holding Companies	491	264	1,477	1,149
Corporate investments	173,574	140,736	173,574	140,736	$ 187,963
Investment Management
Segment Reporting, Asset Reconciling Item [Line Items]
Equity-based compensation	8,836	5,185	27,760	14,279
Corporate investments	1,465,195	1,465,211	1,465,195	1,465,211
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	(2,689)	3,234	(20,242)	(36,988)
Acquisition-related items	1,433	488	4,935	488
Reimbursable expenses	6,368	2,685	17,471	2,685
Share-based compensation accounted for as liability awards	217		44
Other expenses	16		71
Corporate investments	(1,291,621)	(1,324,475)	(1,291,621)	(1,324,475)
OCGH Units Prior to Initial Public Offering in April 2012
Segment Reporting, Asset Reconciling Item [Line Items]
Equity-based compensation	$ 3,874	$ 5,372	$ 12,479	$ 15,947

SUBSEQUENT EVENTS (Detail)

SUBSEQUENT EVENTS (Detail)	Oct. 29, 2015$ / shares
Class A Units | Subsequent Event
Class of Stock [Line Items]
Dividend declared (in dollars per share)	$ 0.40