Oaktree Capital (OAK-PB) 10-K 1 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2016	Feb. 21, 2017	Jun. 30, 2016
Entity Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
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
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 2.6
Class A Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		62,994,591
Class B Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		91,547,128

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Cash and cash-equivalents	$ 959,200	$ 3,331,102
Deferred tax assets	404,614	425,798
Derivative assets, at fair value	16,499	204,226
Total assets	7,649,110	51,762,731
Liabilities:
Derivative liabilities, at fair value	8,951	304,437
Total liabilities	5,419,892	11,781,512
Commitments and contingencies (Note 16)
Non-controlling redeemable interests in consolidated funds	344,047	38,173,125
Unitholders’ capital:
Paid-in capital	749,618	735,166
Retained earnings	54,494	0
Accumulated other comprehensive income (loss)	1,793	(1,216)
Class A unitholders’ capital	805,905	733,950
Non-controlling interests in consolidated subsidiaries	1,050,319	1,043,930
Non-controlling interests in consolidated funds	28,947	30,214
Total unitholders’ capital	1,885,171	1,808,094
Total liabilities and unitholders’ capital	7,649,110	51,762,731
Class A Units
Unitholders’ capital:
Common stock	0	0
Class B Units
Unitholders’ capital:
Common stock	0	0
Oaktree Capital Group Excluding Consolidated Funds
Assets
Cash and cash-equivalents	291,470	480,590
U.S. Treasury and time deposit securities	757,578	661,116
Corporate investments (includes $107,591 and $67,626 measured at fair value as of December 31, 2016 and 2015, respectively)	1,123,732	213,988
Due from affiliates	208,643	35,899
Deferred tax assets	404,614	425,798
Investments, at fair value	107,591	67,626
Other assets	237,466	254,267
Liabilities:
Accrued compensation expense	284,510	319,834
Accounts payable, accrued expenses and other liabilities	150,596	121,934
Due to affiliates	346,543	356,851
Debt obligations	745,897	846,354
Derivative liabilities, at fair value	7,865	4,229
Consolidated Funds
Assets
Cash and cash-equivalents	667,730	2,850,512
Investments, at fair value	3,808,234	45,179,906
Dividends and interest receivable	15,297	189,693
Due from brokers	98,746	706,708
Receivable for securities sold	34,932	163,799
Derivative assets, at fair value	357	198,351
Other assets	311	402,104
Liabilities:
Accounts payable, accrued expenses and other liabilities	11,689	128,774
Payables for securities purchased	291,182	478,437
Debt obligations	3,054,210	2,330,359
Securities sold short, at fair value	41,016	91,246
Derivative liabilities, at fair value	1,086	300,208
Distributions payable	9,207	364,773
Borrowings under credit facilities	$ 483,956	$ 6,442,742

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Class A Units
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	Unlimited	Unlimited
Common stock, shares issued (in shares)	63,032,276	61,969,860
Common stock, shares outstanding (in shares)	63,032,276	61,969,860
Class B Units
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	Unlimited	Unlimited
Common stock, shares issued (in shares)	91,758,067	91,937,873
Common stock, shares outstanding (in shares)	91,758,067	91,937,873
Oaktree Capital Group Excluding Consolidated Funds
Investments, at fair value	$ 107,591	$ 67,626

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Management fees	$ 774,587	$ 195,308	$ 192,055
Incentive income	351,159	6,597	1,839
Total revenues	1,125,746	201,905	193,894
Expenses:
Compensation and benefits	(389,892)	(416,907)	(388,512)
Equity-based compensation	(63,724)	(54,381)	(41,395)
Incentive income compensation	(168,276)	(160,831)	(221,194)
Total compensation and benefits expense	(621,892)	(632,119)	(651,101)
General and administrative	(145,430)	(110,677)	(99,835)
Depreciation and amortization	16,222	14,022	8,003
Consolidated fund expenses	(5,792)	(184,090)	(188,538)
Total expenses	(789,336)	(940,908)	(947,477)
Other income (loss):
Interest expense	(120,610)	(216,799)	(129,942)
Interest and dividend income	165,066	1,958,802	1,902,576
Net realized gain on consolidated funds’ investments	27,593	1,177,150	2,131,584
Net change in unrealized appreciation (depreciation) on consolidated funds’ investments	(12,453)	(3,767,527)	(993,260)
Investment income	199,126	51,958	33,695
Other income (expense), net	13,490	20,006	3,018
Total other income (loss)	272,212	(776,410)	2,947,671
Income (loss) before income taxes	608,622	(1,515,413)	2,194,088
Income taxes	(42,519)	(17,549)	(18,536)
Net income (loss)	566,103	(1,532,962)	2,175,552
Less:
Net income attributable to Oaktree Capital Group, LLC	$ 194,705	$ 71,349	$ 126,283
Distributions declared per Class A unit (in dollars per share)	$ 2.25000	$ 2.10	$ 3.15
Net income per unit (basic and diluted):
Net income per Class A unit (in dollars per share)	$ 3.11	$ 1.45	$ 2.97
Weighted average number of Class A units outstanding (in shares)	62,565	49,324	42,582
Consolidated Funds
Less:
Net income attributable to non-controlling interests	$ (22,921)	$ 1,809,683	$ (1,649,890)
Consolidated Subsidiaries
Less:
Net income attributable to non-controlling interests	$ (348,477)	$ (205,372)	$ (399,379)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net income	$ 566,103	$ (1,532,962)	$ 2,175,552
Other comprehensive income, net of tax:
Foreign-currency translation adjustments	6,579	(2,210)	(1,693)
Unrealized gain on interest-rate swap designated as cash-flow hedge	847	1,374	1,852
Other comprehensive income (loss), net of tax	7,426	(836)	159
Total comprehensive income (loss)	573,529	(1,533,798)	2,175,711
Less: Comprehensive (income) loss attributable to non-controlling interests	(375,815)	1,605,001	(2,049,376)
Comprehensive income attributable to Oaktree Capital Group, LLC	197,714	71,203	126,335
Oaktree Capital Group, LLC
Net income	194,705	71,349	126,283
Other comprehensive income, net of tax:
Foreign-currency translation adjustments	2,666	(621)	(489)
Unrealized gain on interest-rate swap designated as cash-flow hedge	343	475	541
Other comprehensive income (loss), net of tax	3,009	(146)	52
Total comprehensive income (loss)	197,714	71,203	126,335
Less: Comprehensive (income) loss attributable to non-controlling interests	0	0	0
Comprehensive income attributable to Oaktree Capital Group, LLC	197,714	71,203	126,335
Non-controlling Interests in Consolidated Subsidiaries
Net income	348,477	205,372	399,379
Other comprehensive income, net of tax:
Foreign-currency translation adjustments	3,913	(1,589)	(1,204)
Unrealized gain on interest-rate swap designated as cash-flow hedge	504	899	1,311
Other comprehensive income (loss), net of tax	4,417	(690)	107
Total comprehensive income (loss)	352,894	204,682	399,486
Less: Comprehensive (income) loss attributable to non-controlling interests	(352,894)	(204,682)	(399,486)
Comprehensive income attributable to Oaktree Capital Group, LLC	0	0	0
Non-controlling Interests in Consolidated Funds
Net income	22,921	(1,809,683)	1,649,890
Other comprehensive income, net of tax:
Foreign-currency translation adjustments	0	0	0
Unrealized gain on interest-rate swap designated as cash-flow hedge	0	0	0
Other comprehensive income (loss), net of tax	0	0	0
Total comprehensive income (loss)	22,921	(1,809,683)	1,649,890
Less: Comprehensive (income) loss attributable to non-controlling interests	(22,921)	1,809,683	(1,649,890)
Comprehensive income attributable to Oaktree Capital Group, LLC	$ 0	$ 0	$ 0

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income (loss)	$ 566,103	$ (1,532,962)	$ 2,175,552
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Investment income	(199,126)	(51,958)	(33,695)
Depreciation and amortization	16,222	14,022	8,003
Equity-based compensation	63,724	54,381	41,395
Net realized and unrealized (gain) loss from consolidated funds’ investments	(15,140)	2,590,377	(1,138,324)
Amortization (accretion) of original issue and market discount of consolidated funds’ investments, net	(6,583)	(26,366)	(5,910)
Income distributions from corporate investments in funds and companies	121,421	50,252	45,817
Other non-cash items	4,688	15,689	12,042
Cash flows due to changes in operating assets and liabilities:
Purchases of securities	(113,464)	(82,273)	(68,499)
Net cash used in operating activities	(317,906)	(943,227)	(4,326,536)
Cash flows from investing activities:
Purchases of U.S. Treasury and time deposit securities	(874,480)	(385,642)	(414,970)
Proceeds from maturities and sales of U.S. Treasury and time deposit securities	778,018	380,055	436,041
Distributions and proceeds from corporate investments in funds and companies	181,769	57,954	38,341
Acquisition, net of cash acquired (Highstar)	0	0	(25,637)
Purchases of fixed assets	(70,430)	(23,724)	(5,005)
Net cash used in investing activities	(98,587)	(53,630)	(39,729)
Cash flows from financing activities:
Net cash provided by financing activities	763,327	992,269	5,092,336
Effect of exchange rate changes on cash	(6,546)	(12,804)	(15,242)
Net increase (decrease) in cash and cash-equivalents	340,288	(17,392)	710,829
Cash and cash-equivalents, beginning balance	3,331,102	3,348,494	2,637,665
Cash and cash-equivalents, ending balance	959,200	3,331,102	3,348,494
Supplemental cash flow disclosures:
Cash paid for interest	99,740	159,460	79,222
Cash paid for income taxes	15,178	5,586	7,947
Issuance of OCGH units related to the Highstar acquisition	0	0	3,996
Net assets related to the initial consolidation of a fund	34,095	0	961,634
Non-controlling interests in consolidated subsidiaries acquired	0	0	72,195
Increase (Decrease) from Adoption of Accounting Standards Update 2015-02 | Adjustment
Cash flows from financing activities:
Cash and cash-equivalents, beginning balance	(2,712,190)	0	0
Cash and cash-equivalents, ending balance		(2,712,190)	0
Oaktree Capital Group Excluding Consolidated Funds
Cash flows due to changes in operating assets and liabilities:
Decrease in deferred tax assets	24,578	10,645	15,255
(Increase) decrease in other assets	23,833	34,349	(62,883)
Decrease in net due to affiliates	(105,401)	(3,857)	(12,908)
Increase (decrease) in accrued compensation expense	(34,915)	24,948	16,231
Increase (decrease) in accounts payable, accrued expenses and other liabilities	33,595	(26,537)	43,661
Cash flows from financing activities:
Proceeds from issuance of debt obligations	100,000	0	500,000
Payment of debt issuance costs	(1,310)	0	(2,296)
Repayments of debt obligations	(200,000)	0	(229,464)
Proceeds from issuance of Class A units	0	237,820	296,650
Purchase of OCGH units	0	(237,820)	(296,400)
Repurchase and cancellation of units	(12,764)	(4,926)	(2,085)
Distributions to Class A unitholders	(141,561)	(99,120)	(131,954)
Distributions to OCGH unitholders	(252,902)	(273,534)	(418,867)
Contributions from non-controlling interests	0	4,000	0
Distributions to non-controlling interests	(6,888)	(6,493)	0
Cash and cash-equivalents, beginning balance	480,590
Cash and cash-equivalents, ending balance	291,470	480,590
Consolidated Funds
Cash flows due to changes in operating assets and liabilities:
(Increase) decrease in dividends and interest receivable	(3,122)	3,735	(33,171)
(Increase) decrease in due from brokers	57,605	(100,826)	(322,119)
(Increase) decrease in receivables for securities sold	(21,200)	8,018	177,130
(Increase) decrease in other assets	25	224,296	(171,720)
Increase (decrease) in accounts payable, accrued expenses and other liabilities	(3,367)	64,482	(32,640)
Increase (decrease) in payables for securities purchased	149,575	(289,294)	(287,005)
Purchases of securities	(3,460,598)	(17,994,888)	(21,975,014)
Proceeds from maturities and sales of securities	2,470,177	15,988,267	17,213,767
Cash flows from financing activities:
Payment of debt issuance costs	(13,015)	(25,156)	(29,697)
Contributions from non-controlling interests	144,060	5,404,333	8,260,647
Distributions to non-controlling interests	(59,757)	(6,633,233)	(6,826,094)
Proceeds from debt obligations issued by CLOs	839,448	982,962	1,601,535
Borrowings on credit facilities	1,025,333	7,682,232	7,503,750
Repayments on credit facilities	(657,317)	(6,038,796)	$ (5,133,389)
Cash and cash-equivalents, beginning balance	2,850,512
Cash and cash-equivalents, ending balance	$ 667,730	$ 2,850,512

Consolidated Statements of Chan

Consolidated Statements of Changes in Unitholders Capital - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unitholders' capital, beginning of period	$ 1,808,094	$ 1,840,130	$ 1,708,378
Cumulative-effect adjustment from adoption of accounting guidance		(122,621)
Issuance of units	0	237,820	296,650
Issuance of OCGH units related to the Highstar acquisition	0	0	3,996
Purchase of OCGH units from OCGH unitholders		(237,820)	(296,400)
Deferred tax effect resulting from the purchase of OCGH units	745	16,606	13,705
Repurchase and cancellation of units	(12,764)	(4,926)	(2,085)
Non-controlling interests related to the Highstar acquisition	0	0	72,195
Capital contributions		6,880	65,454
Equity reallocation between controlling and non-controlling interests	14,388	181,539	51,525
Capital increase related to equity-based compensation	63,727	52,762	41,261
Distributions declared	(404,551)	(382,099)	(590,982)
Net income	545,115	279,577	527,799
Foreign-currency translation adjustments	6,579	(2,210)	(1,693)
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax	847	1,374	1,852
Unitholders' capital, end of period	1,885,171	1,808,094	1,840,130
Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unitholders' capital, beginning of period	735,166	536,431	590,236
Cumulative-effect adjustment from adoption of accounting guidance		(12,912)
Issuance of units	0	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	745	16,606	13,705
Repurchase and cancellation of units	(12,200)
Equity reallocation between controlling and non-controlling interests	14,388	181,539	51,525
Capital increase related to equity-based compensation	25,781	16,983	11,532
Distributions declared	(1,350)	(16,393)	(131,954)
Unitholders' capital, end of period	749,618	735,166	536,431
Retained Earnings (Accumulated Deficit)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unitholders' capital, beginning of period	0	11,378	(114,905)
Distributions declared	(140,211)	(82,727)
Net income	194,705	71,349	126,283
Unitholders' capital, end of period	54,494	0	11,378
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unitholders' capital, beginning of period	(1,216)	(1,070)	(1,122)
Foreign-currency translation adjustments	2,666	(621)	(489)
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax	343	475	541
Unitholders' capital, end of period	1,793	(1,216)	(1,070)
Non-controlling Interests in Consolidated Subsidiaries
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unitholders' capital, beginning of period	1,043,930	1,265,961	1,234,169
Cumulative-effect adjustment from adoption of accounting guidance		(109,709)
Issuance of OCGH units related to the Highstar acquisition			2,859
Repurchase and cancellation of units	(564)	(4,926)	(2,085)
Non-controlling interests related to the Highstar acquisition			72,195
Capital contributions		4,000	13,810
Equity reallocation between controlling and non-controlling interests	(14,388)	(181,539)	(51,525)
Capital increase related to equity-based compensation	37,946	35,779	29,729
Distributions declared	(259,790)	(280,027)	(432,677)
Net income	348,477	205,372	399,379
Foreign-currency translation adjustments	3,913	(1,589)	(1,204)
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax	504	899	1,311
Unitholders' capital, end of period	1,050,319	1,043,930	1,265,961
Non-controlling Interests in Consolidated Funds
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unitholders' capital, beginning of period	30,214	27,430	0
Capital contributions		2,880	51,644
Distributions declared	(3,200)	(2,952)	(26,351)
Net income	1,933	2,856	2,137
Foreign-currency translation adjustments	0	0	0
Unitholders' capital, end of period	$ 28,947	$ 30,214	$ 27,430
Class A Units
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unitholders' capital, beginning of period (in shares)	61,970,000	43,764,000	38,473,000
Issuance of units (in shares)	1,420,000	18,231,000	5,291,000
Cancellation of units associated with forfeitures of OCGH units (in shares)	(108,000)	(25,000)
Cancellation of units (in shares)	(250,000)
Unitholders' capital, end of period (in shares)	63,032,000	61,970,000	43,764,000
Class B Units
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Unitholders' capital, beginning of period (in shares)	91,938,000	109,089,000	112,584,000
Issuance of units (in shares)	630,000	1,338,000	1,891,000
Cancellation of units associated with forfeitures of OCGH units (in shares)	(207,000)	(135,000)	(56,000)
Cancellation of units (in shares)	(603,000)	(18,354,000)	(5,330,000)
Unitholders' capital, end of period (in shares)	91,758,000	91,938,000	109,089,000

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2016
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 consolidated financial statements. Basis of Presentation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The consolidated financial statements include the accounts of the Company, its wholly-owned or majority-owned subsidiaries and entities in which the Company is deemed to have a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. Certain 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.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of the consolidated financial statements in accordance with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, as well as the reported amounts of income and expenses during the period then ended. Actual results could differ from these estimates. Accounting Policies of the Company Consolidation In February 2015, the Financial Accounting Standards Board (“FASB”) amended its consolidation guidance, which changed the way a reporting entity should evaluate limited partnerships and similar entities for consolidation, how a decision maker’s fees affect the consolidation analysis, and how interests held by related parties affect the consolidation analysis. The Company adopted this guidance as of January 1, 2016 under the modified retrospective approach, which did not require prior periods to be recast. In connection with the adoption, the Company reevaluated all of its investment vehicles and other legal entities for consolidation and, as of January 1, 2016, deconsolidated substantially all of its previously consolidated investment funds because those funds, which had previously been evaluated as voting interest entities, became variable interest entities (“VIEs”) under the new consolidation guidance. The Company is not the primary beneficiary of these VIEs because its fee arrangements are not deemed to be variable interests, and it does not hold any other interests in those funds that are considered to be more than insignificant. The adoption resulted in a reduction to total consolidated assets, liabilities, non-controlling redeemable interests in consolidated funds and unitholders' capital as of January 1, 2016 of $45.7 billion , $7.6 billion , $38.0 billion and $90.6 million , respectively. There was no impact on retained earnings or net income attributable to the Company. The Company consolidates entities in which it has a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. A limited partnership or similar entity is a VIE if the unaffiliated limited partners do not have substantive kick-out or participating rights. Most of the Oaktree funds are VIEs because they have not granted unaffiliated limited partners substantive kick-out or participating rights. The Company consolidates all VIEs in which it is the primary beneficiary. An entity is deemed 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 economic performance 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 guidance 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-based fees), would give it a controlling financial interest. A decision maker’s fee arrangement is not considered a variable interest if it is compensation for services provided, commensurate with the level of effort required to provide those services and part of a compensation arrangement that includes only terms, conditions or amounts that are customarily present in arrangements for similar services negotiated at arm’s length (“at-market”), and the decision maker does not hold any other variable interests that absorb more than an insignificant amount of the potential VIE’s expected residual returns. 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. Please see note 4 for more information regarding VIEs. For entities that are not VIEs, the Company evaluates those entities that it controls through a majority voting interest model. “Consolidated funds” refers to Oaktree-managed funds and CLOs that Oaktree is required to consolidate. When funds or CLOs are consolidated, the Company reflects the assets, liabilities, revenues, expenses and cash flows of the funds or CLOs on a gross basis, and the majority of the economic interests in those funds or CLOs, which are held by third-party investors, are reflected as non-controlling interests in consolidated funds or debt obligations of CLOs in the consolidated financial statements. All of the revenues earned by the Company as investment manager of the consolidated funds are eliminated in consolidation. However, because the eliminated amounts are earned from and funded by third-party investors, the consolidation of a fund does not impact net income or loss attributable to the Company. Certain entities in which the Company has the ability to exert significant influence, including unconsolidated Oaktree funds for which the Company acts as general partner, 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 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 respective 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”), 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 12 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 Intangibles 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 is tested for impairment annually in the fourth quarter of each fiscal year, or more frequently when events or circumstances indicate that impairment may have occurred. The Company’s identifiable intangible assets acquired in business combinations primarily relate to 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, other investments where the fair value is based on observable inputs, and upon adoption of the new CLO measurement guidance as of January 1, 2016, debt obligations of consolidated CLOs. • 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 and/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 of the respective 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. The Company adopted the new CLO measurement guidance on a modified retrospective approach as of January 1, 2016. Please see “—Recent Accounting Guidance” below for further details. Upon adoption, the Company elected the fair value option for the financial liabilities of the consolidated CLOs and determined that the fair value of the CLO assets was more observable than the fair value of the CLO liabilities. Accordingly, the fair value of the CLO liabilities was measured as the fair value of CLO assets less the sum of (a) the fair value of any beneficial interests held by the Company and (b) the carrying value of any beneficial interests that represent compensation for services. 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 consolidated statements of operations. The Company’s accounting for these investments is similar to its accounting for investments held by the consolidated funds at fair value and the valuation methods are consistent with those used to determine the fair value of the consolidated funds’ investments. The Company has elected the fair value option for the financial assets and financial liabilities of its consolidated CLOs. The assets and liabilities of CLOs are primarily reflected within the investments, at fair value and within the debt obligations of CLOs line items in the consolidated statements of financial condition. The Company’s accounting for CLO assets is similar to its accounting for its 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. CLO liabilities are measured based on the more observable fair value of CLO assets under the new CLO measurement guidance, as discussed under “—Fair Value of Financial Instruments” above. Realized gains or losses and changes in the fair value of CLO assets, respectively, are included in net realized gain on consolidated funds’ investments and net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the consolidated statements of operations. Interest income of CLOs is included in interest and dividend income, and interest expense and other expenses, respectively, are included in interest expense and consolidated fund expenses in the consolidated statements of operations. Changes in the fair value of a CLO’s financial liabilities in accordance with the CLO measurement guidance are included in net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the consolidated statements of operations. Please see notes 6 and 10 for more information. Foreign Currency The assets and liabilities of Oaktree’s foreign subsidiaries with non-U.S. dollar functional currencies are translated at exchange rates prevailing at the end of each reporting period. The results of foreign operations are translated at the weighted average exchange rate for each reporting period. Translation adjustments are included in other comprehensive income (loss) within the consolidated statements of financial condition until realized. Gains and losses resulting from foreign-currency transactions are included in general and administrative expense. Derivatives and Hedging A derivative is a financial instrument whose value is derived from an underlying financial instrument or index, such as interest rates, equity securities, currencies, commodities or credit spreads. Derivatives include futures, forwards, swaps or option contracts, and other financial instruments with similar characteristics. Derivative contracts often involve future commitments to exchange interest payment streams or currencies based on a notional or contractual amount (e.g., interest-rate swaps or foreign-currency forwards). The Company enters into derivatives 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 result in the use of derivatives to economically hedge or reduce these exposures. To mitigate the risk associated with fluctuations in interest rates, the Company may enter into interest-rate swaps to manage all or a portion of the interest-rate risk associated with its variable-rate borrowings. The Company’s corporate investments in funds include investments denominated in currencies other than the U.S. dollar, which is the Company’s reporting currency and, consequently, are subject to fluctuations in foreign-currency exchange rates. The Company also receives management fees from certain funds and pays expenses in currencies other than the U.S. dollar. To reduce earnings and cash-flow volatility associated with changes in foreign-currency exchange rates caused by the remeasurement of the Company’s corporate investments, management fees and expenses denominated in non-functional currencies, the Company may enter into foreign-currency option and forward contracts. 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 ratings. Counterparty credit risk is evaluated in determining the fair value of derivatives. The Company recognizes all derivatives as assets or liabilities in its consolidated statements of financial condition at fair value. 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. While these derivatives are eligible to be offset in accordance with applicable accounting guidance, the Company has elected to present derivative assets and liabilities based on gross fair value in its consolidated statements of financial condition. When the Company enters into a derivative contract, the Company may elect to designate the derivative as a hedging instrument and apply hedge accounting as part of its overall risk management strategy. In other situations, when a derivative does not qualify for hedge accounting or when the derivative and the hedged item are both recorded in current-period earnings and thus deemed to be economic hedges, hedge accounting is not applied. Derivatives that are designated as hedging instruments are classified as either a hedge of (a) a recognized asset or liability (“fair-value hedge”), (b) a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (“cash-flow hedge”), or (c) a net investment in a foreign operation. For a fair-value hedge, changes in the fair value of the derivative and, to the extent that it is highly effective, changes in the fair value of the hedged asset or liability attributable to the hedged risk are recorded in current-period earnings in the same caption in the consolidated statements of operations as the hedged item. Changes in the fair value of a derivative that is highly effective and is designated and qualifies as a cash-flow hedge, to the extent that the hedge is effective, are recorded in other comprehensive income (loss) until earnings are affected by the variability of cash flows of the hedged transaction. Any hedge ineffectiveness is recorded in current-period earnings. Changes in the fair value of derivatives designated as hedging instruments that are caused by factors other than changes in the risk being hedged are excluded from the assessment of hedge effectiveness and recognized in current-period earnings. For a derivative that is not designated as a hedging instrument (“freestanding derivative”), the Company records changes in fair value in current-period earnings. The Company formally documents at inception the hedge relationship, including identification of the hedging instrument and the hedged item, as well as the risk management objectives, the strategy for undertaking the hedge transaction, and the evaluation of effectiveness of its hedged transaction. On a quarterly basis, the Company formally assesses whether the derivative it designated in each hedging relationship has been and is expected to remain highly effective in offsetting changes in the estimated fair value or cash flow of the hedged items. If it is determined that a derivative is not highly effective at hedging the designated exposure, hedge accounting is discontinued and the balance remaining in other comprehensive income (loss) is released to earnings. Cash and Cash-equivalents Cash and cash-equivalents include demand deposit accounts, money market funds and short-term investments with maturities of three months or less at the date of acquisition. U.S. Treasury and Time Deposit Securities Includes holdings of U.S. Treasury bills and time deposit securities with maturities greater than three months at the date of acquisition. These securities, classified as available-for-sale, are recorded at fair value with changes in fair value included in other comprehensive income (loss). Changes in fair value were not material for all years presented. Corporate Investments Corporate investments consist of investments in funds and companies in which the Company does not have a controlling financial interest. Investments for which the Company is deemed to exert significant influence are accounted for under the equity method of accounting and reflect Oaktree’s ownership interest in each fund or company. In the case of investments for which the Company is not deemed to exert significant influence or control, the fair value option of accounting has been elected. Investment income represents the Company’s pro-rata share of income or loss from these funds or companies, or the change in fair value of the investment, as applicable. Oaktree’s general partnership interests are substantially illiquid. While investments in funds reflect each respective fund’s holdings at fair value, equity-method investments in DoubleLine Capital LP and its affiliates (collectively, “DoubleLine”) and other companies are not adjusted to reflect the fair value of the underlying company. The fair value of the underlying investments in Oaktree funds is based on the Company’s assessment, which takes into account expected cash flows, earnings multiples and/or comparisons to similar market transactions, among other factors. Valuation adjustments reflecting consideration of credit quality, concentration risk, sales restrictions and other liquidity factors are integral to valuing these instruments. Management Fees Management fees are recognized over the period in which the investment advisory services are performed. The contractual terms of management fees generally vary by fund structure. For most closed-end funds, the management fee rate is applied against committed capital during the fund’s investment period and the lesser of total funded capital or cost basis of assets in the liquidation period. However, for certain closed-end funds, management fees during the investment period are calculated based on drawn capital or cost basis. Additionally, for those closed-end funds for which management fees are based on committed capital, the Company sometimes elects to delay the start of the fund’s investment period and thus its full management fees, in which case the Company earns management fees based on drawn capital, and in certain cases outstanding borrowings under a fund-level credit facility made in lieu of drawing capital, until the Company elects to start the fund’s investment period. The Company’s right to receive management fees typically ends after 10 or 11 years from either the initial closing date or the start of the investment period, even if assets remain in the fund. In the case of CLOs, a portion of the management fees earned by us is dependent on the sufficiency of the particular vehicle’s cash flow. For open-end and evergreen funds, the management fee is generally based on the NAV of the fund. In the case of certain open-end and evergreen fund accounts, the Company has the potential to earn performance-based fees, typically in reference to a relevant benchmark index or hurdle rate. The Company does not recognize incremental income for transaction, advisory, director and other ancillary fees received in connection with providing services to portfolio companies or potential investees of the funds; rather, any such fees are offset against management fees earned from the applicable fund. These fees are typically recognized as revenue in the period in which they are offset against the quarterly management fees that would otherwise be paid by the applicable fund, which is generally the quarter following the period in which the fees are received. Ancillary fees recognized in management fees for the years ended December 31, 2016, 2015 and 2014 were $32.5 million , $26.6 million and $32.7 million , respectively. Incentive Income Incentive income generally represents 20% of each closed-end fund’s profits, subject to the return of contributed capital and a preferred return of typically 8% per annum, and 10% to 20% of certain evergreen fund’s annual profits, subject to high-water marks or hurdle rates. The Company has elected to adopt “Method 1” for revenue recognition based on a formula. Under this method, incentive income is recognized when fixed or determinable, all related contingencies have been removed and collection is reasonably assured, which generally occurs in the quarter of, or the quarter immediately prior to, the distribution of the income by the fund to Oaktree. The Method 1 criteria for revenue recognition is typically met (a) for closed-end funds, only after all contributed capital and the preferred return on that capital have been distributed to the fund’s investors, and (b) for certain evergreen funds, at the conclusion of each annual measurement period. Incentives received by Oaktree before the above criteria have been met are deferred and recorded as a deferred incentive income liability within accounts payable, accrued expenses and other liabilities in the consolidated statements of financial condition. As of December 31, 2016 and 2015, respectively, there was $16.8 million and zero of deferred incentive income. The Company may receive tax distributions related to taxable income allocated by funds, which are treated as an advance of incentive income and subject to the same recognition criteria. Tax distributions are contractually not subject to clawback. Incentive Income Compensation Incentive income compensation expense primarily reflects compensation directly related to incentive income, which generally consists of percentage interests (sometimes referred to as “points”) that the Company grants to its investment professionals associated with the particular fund that generated the incentive income, and secondarily, compensation directly related to investment income. The Company has an obligation to pay a fixed percentage of the incentive income earned from a particular fund, including income from consolidated funds that is eliminated in consolidation, to specified investment professionals responsible for the management of the fund. Amounts payable pursuant to these arrangements are recorded as compensation expense when they have become probable and reasonably estimable. The Company’s determination of the point at which it becomes probable and reasonably estimable that incentive income compensation expense should be recorded is based on its assessment of numerous factors, particularly those related to the profitability, realizations, distribution status, investment profile and commitments or contingencies of the individual funds that may give rise to incentive income. Incentive income compensation is expensed no later than the period in which the underlying income is recognized. Payment of incentive income compensation generally occurs in the same period the related income is received or in the next period. Participation in incentive income generated by the funds is subject to forfeiture upon departure and to vesting provisions (ge

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
BUSINESS COMBINATIONS	BUSINESS COMBINATIONS In August 2014, the Company completed its acquisition of 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 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 13 and 16 for more information regarding the contingent consideration liability.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The Company consolidates VIEs for which it is the primary beneficiary. VIEs include funds managed by Oaktree and CLOs for which Oaktree acts as collateral manager. The purpose of these VIEs is to provide investment opportunities for investors in exchange for management fees and, in certain cases, performance-based allocations. While the investment strategies of the funds and CLOs differ by product, in general the fundamental risks of the funds and CLOs have similar characteristics, including loss of invested capital and reduction or absence of management and performance-based fees. As general partner or collateral manager, respectively, Oaktree generally considers itself the sponsor of the applicable fund or CLO. The Company does not provide performance guarantees and, other than capital commitments, has no financial obligation to provide funding to VIEs. As discussed in note 2, the Company adopted the new consolidation guidance in the first quarter of 2016 under the modified retrospective approach as of January 1, 2016, which did not require prior periods to be recast. The adoption resulted in the deconsolidation of substantially all of Oaktree’s investment funds as of January 1, 2016. Consolidated VIEs As of December 31, 2016, the Company consolidated 17 VIEs for which it was the primary beneficiary, including eight funds managed by Oaktree, eight CLOs for which Oaktree serves as collateral manager, and Oaktree AIF Holdings, Inc., which was formed to hold certain assets for regulatory and other purposes. One of the consolidated funds, Oaktree Enhanced Income Retention Holdings III, LLC, was formed to satisfy risk retention requirements under Section 15G of the Exchange Act. One of the CLOs had not priced as of December 31, 2016. As of December 31, 2015, the Company consolidated eight VIEs pursuant to the consolidation rules then in effect. As of December 31, 2016, the assets and liabilities of the 16 consolidated VIEs representing funds and CLOs amounted to $4.6 billion and $3.9 billion , respectively. The assets of these consolidated VIEs primarily consisted of investments in debt and equity securities, while their liabilities primarily represented debt obligations issued by CLOs. The assets of these VIEs may be used only to settle obligations of the same VIE. In addition, there is no recourse to the Company for the VIEs’ liabilities. In exchange for managing either the funds’ or CLOs’ collateral, the Company typically earns management fees and may earn performance fees, all of which are eliminated in consolidation. As of December 31, 2016, the Company’s investments in consolidated VIEs had a carrying value of $304.5 million , which represented its maximum risk of loss as of that date. The Company’s investments in CLOs 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. Please see note 10 for more information on CLO debt obligations. Unconsolidated VIEs The Company holds variable interests in certain VIEs in the form of direct equity interests that are not consolidated because it is not the primary beneficiary, inasmuch as its fee arrangements are considered at-market and it does not hold interests in those entities that are considered more than insignificant. As of December 31, 2016, the assets and liabilities of VIEs that were not consolidated, and the Company’s investments in those VIEs, are shown below. As of December 31, 2015, there were no VIEs for which the Company was not the primary beneficiary pursuant to the consolidation rules then in effect. Carrying Value as of December 31, 2016 Assets of VIEs $ 52,098,059 Liabilities of VIEs $ 9,088,173 Corporate investments $ 1,055,227 Due from affiliates 159,714 Maximum exposure to loss $ 1,214,941

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2016
Investments [Abstract]
INVESTMENTS	INVESTMENTS Corporate Investments Corporate investments consist of investments in funds and companies in which the Company does not have a controlling financial interest. Investments for which the Company is deemed to exert significant influence are accounted for under the equity method of accounting and reflect Oaktree’s ownership interest in each fund or company. In the case of investments for which the Company is not deemed to exert significant influence or control, the fair value option of accounting has been elected. Investment income represents the Company’s pro-rata share of income or loss from these funds or companies, or the change in fair value of the investment, as applicable. Oaktree’s general partnership interests are substantially illiquid. While investments in funds reflect each respective fund’s holdings at fair value, equity-method investments in DoubleLine and other companies are not adjusted to reflect the fair value of the underlying company. The fair value of the underlying investments in Oaktree funds is based on the Company’s assessment, which takes into account expected cash flows, earnings multiples and/or comparisons to similar market transactions, among other factors. Valuation adjustments reflecting consideration of credit quality, concentration risk, sales restrictions and other liquidity factors are integral to valuing these instruments. The Company adopted the new consolidation guidance effective the first quarter of 2016, resulting in the deconsolidation of substantially all of Oaktree’s investment funds. Corporate investments consisted of the following: As of December 31, Corporate Investments: 2016 2015 Equity-method investments: Funds $ 981,209 $ 117,800 Companies 34,932 28,562 Other investments, at fair value 107,591 67,626 Total corporate investments $ 1,123,732 $ 213,988 The components of investment income (loss) are set forth below: Year Ended December 31, Investment Income (Loss): 2016 2015 2014 Equity-method investments: Funds $ 123,511 $ 1,813 $ 556 Companies 66,427 49,933 46,212 Other investments, at fair value 9,188 212 (13,073 ) Total investment income $ 199,126 $ 51,958 $ 33,695 Equity-method Investments The Company’s equity-method investments include its investments in Oaktree funds for which it serves as general partner, and other third-party funds and companies that are not consolidated for which the Company is deemed to exert significant influence. The Company’s share of income or loss generated by these investments is recorded within investment income in the consolidated statements of operations. The Company’s equity-method investments in Oaktree funds principally reflect the Company’s general partner interests in those funds, which typically does not exceed 2.5% in each fund. The Oaktree funds are investment companies that follow a specialized basis of accounting established by GAAP. Equity-method investments in companies include the Company’s one-fifth equity stake in DoubleLine. Each reporting period, the Company evaluates each of its equity-method investments to determine if any are considered significant, as defined by the SEC. As of December 31, 2016 and 2015, or for the years ended December 31, 2016, 2015 and 2014, no individual equity-method investment met the significance criteria. As a result, separate financial statements were not required for any of the Company’s equity-method investments. Summarized financial information of the Company’s equity-method investments is set forth below. Equity-method investments were not material for periods prior to adoption of the deconsolidation guidance in the first quarter of 2016, pursuant to the consolidation rules then in effect. Statement of Financial Condition : As of December 31, 2016 Assets: Cash and cash-equivalents $ 3,713,045 Investments, at fair value 43,084,842 Other assets 1,994,304 Total assets $ 48,792,191 Liabilities and Capital: Debt obligations $ 7,372,063 Other liabilities 2,028,065 Total liabilities 9,400,128 Total capital 39,392,063 Total liabilities and capital $ 48,792,191 Statements of Operations : Year Ended December 31, 2016 Revenues / investment income $ 2,188,044 Interest expense (176,009 ) Other expenses (899,288 ) Net realized and unrealized gain on investments 4,065,939 Net income $ 5,178,686 Other Investments, at Fair Value Other investments, at fair value primarily consist of investments in certain Oaktree and non-Oaktree funds for which the fair value option of accounting has been elected, as well as derivatives utilized to hedge the Company’s exposure to investment income earned from unconsolidated funds. The following table summarizes net gains (losses) attributable to the Company’s other investments: Year Ended December 31, 2016 2015 2014 Realized gain (loss) $ 1,808 $ 1,372 $ 2,838 Net change in unrealized gain (loss) 7,380 (1,160 ) (15,911 ) Total $ 9,188 $ 212 $ (13,073 ) Investments of Consolidated Funds Investments, at Fair Value Investments held and securities sold short by the consolidated funds are summarized below: Fair Value as of December 31, Fair Value as a Percentage of Investments of Consolidated Funds as of December 31, Investments: 2016 2015 2016 2015 United States: Debt securities: Consumer discretionary $ 628,621 $ 3,387,072 16.5 % 7.5 % Consumer staples 123,395 686,071 3.2 1.5 Energy 55,655 854,220 1.5 1.9 Financials 182,685 1,293,508 4.8 2.9 Government 5,234 95,508 0.1 0.2 Health care 337,138 1,135,799 8.9 2.5 Industrials 379,122 1,710,706 10.0 3.8 Information technology 272,637 1,293,815 7.2 2.9 Materials 237,417 1,393,521 6.2 3.1 Telecommunication services 93,893 471,711 2.5 1.0 Utilities 76,920 686,126 2.0 1.5 Total debt securities (cost: $2,378,759 and $15,304,870 as of December 31, 2016 and 2015, respectively) 2,392,717 13,008,057 62.9 28.8 Equity securities: Consumer discretionary 711 1,813,832 0.0 4.0 Consumer staples — 872,472 — 1.9 Energy 2,002 1,810,290 0.1 4.0 Financials 3,977 7,639,790 0.1 16.9 Health care 343 92,866 0.0 0.2 Industrials 1 1,728,086 0.0 3.8 Information technology — 67,253 — 0.2 Materials 691 882,366 0.0 2.0 Telecommunication services — 16,471 — 0.0 Utilities — 156,865 — 0.3 Total equity securities (cost: $5,462 and $13,290,699 as of December 31, 2016 and 2015, respectively) 7,725 15,080,291 0.2 33.3 Fair Value as of December 31, Fair Value as a Percentage of Investments of Consolidated Funds as of December 31, Investments: 2016 2015 2016 2015 Europe: Debt securities: Consumer discretionary $ 374,627 $ 1,329,387 9.8 % 2.9 % Consumer staples 92,750 222,789 2.4 0.5 Energy 13,274 144,742 0.3 0.3 Financials 13,822 808,568 0.4 1.8 Government 1,996 46,946 0.1 0.1 Health care 210,078 197,569 5.5 0.5 Industrials 54,578 291,950 1.4 0.7 Information technology 23,832 71,168 0.6 0.2 Materials 226,961 377,460 6.0 0.8 Telecommunication services 214,182 200,610 5.6 0.4 Utilities — 18,028 — 0.0 Total debt securities (cost: $1,214,068 and $4,207,531 as of December 31, 2016 and 2015, respectively) 1,226,100 3,709,217 32.1 8.2 Equity securities: Consumer discretionary — 270,370 — 0.6 Consumer staples — 145,108 — 0.3 Energy — 21,791 — 0.0 Financials 1,605 6,239,424 0.0 13.8 Government — 40,290 — 0.1 Health care — 79,582 — 0.2 Industrials — 1,499,142 — 3.3 Information technology — 1,646 — 0.0 Materials — 475,306 — 1.1 Telecommunication services — 4,834 — 0.0 Utilities — 344,736 — 0.8 Total equity securities (cost: $1,494 and $7,627,245 as of December 31, 2016 and 2015, respectively) 1,605 9,122,229 0.0 20.2 Asia and other: Debt securities: Consumer discretionary 3,145 102,531 0.1 0.2 Consumer staples 5,994 33,061 0.2 0.1 Energy 9,570 193,645 0.3 0.4 Financials — 27,413 — 0.1 Government 1,506 6,974 0.0 0.0 Health care 1,245 47,010 0.0 0.1 Industrials 15,450 268,710 0.4 0.6 Information technology 409 31,983 0.0 0.1 Materials 10,245 248,830 0.3 0.6 Telecommunication services 4,809 — 0.1 — Utilities 928 2,713 0.0 0.0 Total debt securities (cost: $57,400 and $1,090,867 as of December 31, 2016 and 2015, respectively) 53,301 962,870 1.4 2.2 Fair Value as of December 31, Fair Value as a Percentage of Investments of Consolidated Funds as of December 31, Investments: 2016 2015 2016 2015 Asia and other: Equity securities: Consumer discretionary $ 7,639 $ 506,761 0.2 % 1.1 % Consumer staples 3,786 29,863 0.1 0.1 Energy 6,978 192,844 0.2 0.4 Financials 44,328 986,753 1.2 2.2 Health care — 18,535 — 0.1 Industrials 21,564 1,032,225 0.6 2.3 Information technology 16,642 244,433 0.4 0.5 Materials 19,697 96,326 0.5 0.2 Telecommunication services 4,296 34,678 0.1 0.1 Utilities 1,856 154,824 0.1 0.3 Total equity securities (cost: $118,292 and $3,370,406 as of December 31, 2016 and 2015, respectively) 126,786 3,297,242 3.4 7.3 Total debt securities 3,672,118 17,680,144 96.4 39.2 Total equity securities 136,116 27,499,762 3.6 60.8 Total investments, at fair value $ 3,808,234 $ 45,179,906 100.0 % 100.0 % Securities Sold Short: Equity securities (proceeds: $41,541 and $102,236 as of December 31, 2016 and 2015, respectively) $ (41,016 ) $ (91,246 ) As of December 31, 2016 and 2015, no single issuer or investment had a fair value that exceeded 5% of Oaktree’s total consolidated net assets. Net Gains (Losses) From Investment Activities of Consolidated Funds Net gains (losses) from investment activities in the consolidated statements of operations consist primarily of 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: Year Ended December 31, 2016 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 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Investments and other financial instruments $ 30,718 $ 109,398 $ 895,271 $ (3,602,437 ) $ 1,937,061 $ (1,080,571 ) CLO liabilities (1) — (120,702 ) — — — — Foreign-currency forward contracts (2) 521 264 457,594 (98,420 ) 179,675 278,647 Total-return and interest-rate swaps (2) (2,353 ) (1,416 ) (215,837 ) (38,658 ) 54,437 (193,079 ) Options and futures (2) (1,293 ) 3 43,055 (30,198 ) (38,431 ) 6,513 Swaptions (2)(3) — — (2,933 ) 2,186 (1,158 ) (4,770 ) Total $ 27,593 $ (12,453 ) $ 1,177,150 $ (3,767,527 ) $ 2,131,584 $ (993,260 ) (1) Represents the net change in the fair value of CLO liabilities based on the more observable fair value of CLO assets, as measured under the CLO measurement guidance. Please see note 2 for more information. (2) Please see note 7 for additional information. (3) 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	12 Months Ended
	Dec. 31, 2016
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 financial liabilities by fair-value hierarchy level are set forth below. Please see notes 10 and 18 for the fair value of the Company’s outstanding debt obligations and amounts due from/to affiliates, respectively. As of December 31, 2016 As of December 31, 2015 Level I Level II Level III Total Level I Level II Level III Total Assets U.S. Treasury and time deposit securities (1) $ 757,578 $ — $ — $ 757,578 $ 661,116 $ — $ — $ 661,116 Corporate investments — 27,551 74,663 102,214 — 41,876 25,750 67,626 Foreign-currency forward contracts (2) — 16,142 — 16,142 — 5,875 — 5,875 Total assets $ 757,578 $ 43,693 $ 74,663 $ 875,934 $ 661,116 $ 47,751 $ 25,750 $ 734,617 Liabilities Contingent consideration (3) $ — $ — $ (23,567 ) $ (23,567 ) $ — $ — $ (28,494 ) $ (28,494 ) Foreign-currency forward contracts (3) — (7,805 ) — (7,805 ) — (3,286 ) — (3,286 ) Interest-rate swaps (3) — (60 ) — (60 ) — (943 ) — (943 ) Total liabilities $ — $ (7,865 ) $ (23,567 ) $ (31,432 ) $ — $ (4,229 ) $ (28,494 ) $ (32,723 ) (1) Carrying value approximates fair value due to the short-term nature. (2) Amounts are included in other assets in the consolidated statements of financial condition, except for $5,377 of the December 31, 2016 amount, which is included within corporate investments in the consolidated statements of financial condition. (3) Amounts are included in accounts payable, accrued expenses and other liabilities in the consolidated statements of financial condition. There were no transfers between Level I and Level II positions for the years ended December 31, 2016 and 2015. The table below sets forth a summary of changes in the fair value of Level III financial instruments: Year Ended December 31, 2016 2015 2014 Corporate Investments Contingent Consideration Liability Corporate Investments Contingent Consideration Liability Corporate Investments Contingent Consideration Liability Beginning balance $ 25,750 $ (28,494 ) $ — $ (27,245 ) $ — $ — Contributions or additions 43,521 — 25,750 — — (25,559 ) Distributions (1,470 ) — — — — — Net gain (loss) included in earnings 6,862 4,927 — (1,249 ) — (1,686 ) Ending balance $ 74,663 $ (23,567 ) $ 25,750 $ (28,494 ) $ — $ (27,245 ) Net change in unrealized gains (losses) attributable to financial instruments still held at end of period $ 5,913 $ 4,927 $ — $ (1,249 ) $ — $ (1,686 ) The table below sets forth a summary of the valuation techniques and quantitative information utilized in determining the fair value of the Company’s Level III financial instruments: Fair Value as of December 31, Significant Unobservable Input Weighted Average Financial Instrument 2016 2015 Valuation Technique Range Corporate investment – Limited partnership interests $ 74,663 $ 25,750 Market approach Not applicable Not applicable Not applicable Contingent consideration liability 23,567 28,494 Discounted cash flow Assumed % of total potential contingent payments 0% – 100% 45% 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 December 31, 2016 As of December 31, 2015 Level I Level II Level III Total Level I Level II Level III Total Assets Investments: Corporate debt – bank debt $ — $ 2,973,482 $ 208,868 $ 3,182,350 $ — $ 7,891,929 $ 1,871,375 $ 9,763,304 Corporate debt – all other — 460,975 28,793 489,768 5,450 4,902,226 3,009,164 7,916,840 Equities – common stock 129,362 61 6,693 136,116 4,836,422 256,604 8,729,202 13,822,228 Equities – preferred stock — — — — — — 1,363,542 1,363,542 Real estate — — — — 61,317 — 9,655,270 9,716,587 Real estate loan portfolios — — — — — — 2,597,405 2,597,405 Total investments 129,362 3,434,518 244,354 3,808,234 4,903,189 13,050,759 27,225,958 45,179,906 Derivatives: Foreign-currency forward contracts — 216 — 216 — 156,234 — 156,234 Swaps — 141 — 141 — 16,544 — 16,544 Options and futures — — — — — 25,559 — 25,559 Swaptions — — — — — 14 — 14 Total derivatives — 357 — 357 — 198,351 — 198,351 Total assets $ 129,362 $ 3,434,875 $ 244,354 $ 3,808,591 $ 4,903,189 $ 13,249,110 $ 27,225,958 $ 45,378,257 Liabilities CLO debt obligations: Senior secured notes (1) $ — $ (2,953,880 ) $ — $ (2,953,880 ) $ — $ — $ — $ — Subordinated notes (1) — (100,330 ) — (100,330 ) — — — — Total CLO debt obligations — (3,054,210 ) — (3,054,210 ) — — — — Securities sold short: Equity securities (41,016 ) — — (41,016 ) (91,246 ) — — (91,246 ) Derivatives: Foreign-currency forward contracts — (4 ) — (4 ) — (64,364 ) — (64,364 ) Swaps — (1,082 ) — (1,082 ) — (223,359 ) (8,251 ) (231,610 ) Options and futures — — — — (88 ) (4,146 ) — (4,234 ) Total derivatives — (1,086 ) — (1,086 ) (88 ) (291,869 ) (8,251 ) (300,208 ) Total liabilities $ (41,016 ) $ (3,055,296 ) $ — $ (3,096,312 ) $ (91,334 ) $ (291,869 ) $ (8,251 ) $ (391,454 ) (1) The fair value of CLO liabilities is classified based on the more observable fair value of CLO assets. Please see notes 2 and 10 for more information. 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 Portfolio Swaps Other Total 2016: Beginning balance $ 1,871,375 $ 3,009,164 $ 8,729,202 $ 1,363,542 $ 9,655,270 $ 2,597,405 $ (8,251 ) $ — $ 27,217,707 Cumulative-effect adjustment from adoption of accounting guidance (1,672,305 ) (3,007,287 ) (8,725,026 ) (1,363,542 ) (9,655,270 ) (2,597,405 ) 8,251 — (27,012,584 ) Transfers into Level III 83,218 657 3,089 — — — — — 86,964 Transfers out of Level III (43,728 ) — — — — — — — (43,728 ) Purchases 21,259 26,662 1,301 — — — — — 49,222 Sales (57,659 ) (219 ) (2,651 ) — — — — — (60,529 ) Realized gains (losses), net 389 2 — — — — — — 391 Unrealized appreciation (depreciation), net 6,319 (186 ) 778 — — — — — 6,911 Ending balance $ 208,868 $ 28,793 $ 6,693 $ — $ — $ — $ — $ — $ 244,354 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ 6,196 $ (186 ) $ 778 $ — $ — $ — $ — $ — $ 6,788 2015: Beginning balance $ 1,555,656 $ 2,750,661 $ 9,044,579 $ 1,320,752 $ 9,216,056 $ 2,399,105 $ (10,687 ) $ 15,576 $ 26,291,698 Transfers into Level III 364,501 248,824 570,137 15,835 142,165 — — — 1,341,462 Transfers out of Level III (199,119 ) (246,615 ) (1,427,473 ) (32,692 ) (61,317 ) — — (12,000 ) (1,979,216 ) Purchases 684,359 1,267,168 1,706,683 203,077 1,973,704 1,207,691 — — 7,042,682 Sales (493,438 ) (584,756 ) (1,315,766 ) (305,917 ) (2,242,760 ) (1,100,273 ) — (5,513 ) (6,048,423 ) Realized gains (losses), net 16,245 (4,670 ) 125,637 81,037 766,400 283,074 — 3,147 1,270,870 Unrealized appreciation (depreciation), net (56,829 ) (421,448 ) 25,405 81,450 (138,978 ) (192,192 ) 2,436 (1,210 ) (701,366 ) Ending balance $ 1,871,375 $ 3,009,164 $ 8,729,202 $ 1,363,542 $ 9,655,270 $ 2,597,405 $ (8,251 ) $ — $ 27,217,707 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (43,305 ) $ (340,883 ) $ (33,299 ) $ 169,799 $ 342,560 $ (192,192 ) $ 2,436 $ — $ (94,884 ) 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 consolidated statements of operations. There were no transfers between Level I and Level II positions for the years ended December 31, 2016 and 2015. Transfers out of Level III are 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 reflect 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 December 31, 2016: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) Credit-oriented investments: Consumer $ 7,658 Discounted cash flow (1) Discount rate 5% – 13% 7% 64,147 Recent market information (6) Quoted prices Not applicable Not applicable Consumer Staples: 7,356 Discounted cash flow (1) Discount rate 6% – 12% 7% 23,182 Recent market information (6) Quoted prices Not applicable Not applicable Energy: 12,758 Recent market information (6) Quoted prices Not applicable Not applicable Industrials: 10,574 Discounted cash flow (1) Discount rate 5% – 7% 6% 4,230 Market approach (2) Earnings multiple (3) 5x - 7x 6x 30,531 Recent market information (6) Quoted prices Not applicable Not applicable Information 11,681 Discounted cash flow (1) Discount rate 6% – 13% 9% 5,076 Recent market information (6) Quoted prices Not applicable Not applicable Materials: 1,206 Discounted cash flow (1) Discount rate 11% – 13% 12% 15,586 Recent market information (6) Quoted prices Not applicable Not applicable Other: 13,754 Discounted cash flow (1) Discount rate 8% – 16% 12% 9,137 Recent market information (6) Quoted prices Not applicable Not applicable 20,785 Recent transaction price (5) Not applicable Not applicable Not applicable Equity investments: 3,542 Market approach (2) Earnings multiple (3) 4x – 11x 8x 1,352 Discounted cash flow (1) Discount rate 11% – 33% 14% 1,799 Recent market information (6) Quoted prices Not applicable Not applicable Total Level III $ 244,354 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 December 31, 2015: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) Credit-oriented investments: Consumer $ 289,107 Discounted cash flow (1) Discount rate 5% – 15% 12% 451,584 Market approach (2) Earnings multiple (3) 3x – 10x 6x 232,995 Recent transaction price (5) Not applicable Not applicable Not applicable 156,160 Recent market information (6) Quoted prices / discount Not applicable Not applicable Financials: 595,066 Discounted cash flow (1) Discount rate 6% – 14% 11% 259,669 Market approach (2)(4) Underlying asset multiple 1.1x – 1.5x 1.2x 232,958 Recent transaction price (5) Not applicable Not applicable Not applicable 241,667 Recent market information (6) Quoted prices / discount Not applicable Not applicable Industrials: 135,808 Discounted cash flow (1) Discount rate 5% – 15% 13% 55,310 Discounted cash flow (1) / (8) Discount rate / Market transactions 9% – 11% 10% 7,549 Market approach (2) Earnings multiple (3) 5x – 9x 7x 219,121 Market approach (2)(4) Underlying asset multiple 0.7x – 1.0x 0.9x 45,647 Recent transaction price (5) Not applicable Not applicable Not applicable 24,247 Recent market information (6) Quoted prices / discount Not applicable Not applicable Materials: 417,749 Discounted cash flow (1) Discount rate 11% – 14% 14% 128,230 Market approach (2) Earnings multiple (3) 7x – 9x 8x 3,938 Recent transaction price (5) Not applicable Not applicable Not applicable 71,174 Recent market information (6) Quoted prices / discount Not applicable Not applicable Information 199,841 Discounted cash flow (1) Discount rate 6% – 13% 12% 143,596 Market approach (2) Earnings multiple (3) 6x – 8x 7x 63,594 Recent transaction price (5) Not applicable Not applicable Not applicable 62,353 Recent market information (6) Quoted prices / discount Not applicable Not applicable Other: 442,797 Discounted cash flow (1) Discount rate 5% – 20% 12% 60,643 Recent transaction price (5) Not applicable Not applicable Not applicable 331,485 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: Financials: 58,352 Discounted cash flow (1) Discount rate 14% – 16% 15% 1,029,904 Market approach (2)(4) Underlying asset multiple 1.0x – 1.5x 1.4x 189,714 Recent transaction price (5) Not applicable Not applicable Not applicable Industrials: 37,130 Discounted cash flow (1) Discount rate 10% – 12% 11% 2,385,995 Market approach (2) Earnings multiple (3) 5x – 18x 9x 1,287,791 Market approach (2)(4) Underlying asset multiple 0.9x – 1.0x 1.0x 248,894 Recent transaction price (5) Not applicable Not applicable Not applicable 53,005 Recent market information (6) Quoted prices / discount Not applicable Not applicable Materials: 1,238,760 Market approach (2) Earnings multiple (3) 7x – 9x 8x 25,133 Recent transaction price (5) Not applicable Not applicable Not applicable Utilities 616,596 Market approach (2) Earnings multiple (3) 8x – 11x 9x 266,185 Other Not applicable Not applicable Not applicable 200,112 Recent transaction price (5) Not applicable Not applicable Not applicable Other: 1,898,334 Market approach (2) Earnings multiple (3) 6x – 18x 10x 164,026 Market approach (2)(4) Underlying asset multiple 1.1x – 1.3x 1.2x 221,350 Recent transaction price (5) Not applicable Not applicable Not applicable 171,463 Recent market information (6) Quoted prices / discount Not applicable Not applicable Real estate-oriented investments: 3,863,639 Discounted cash flow (1)(7) Discount rate 6% – 44% 13% Terminal capitalization rate 5% – 10% 7% Direct capitalization rate 5% – 10% 7% Net operating income growth rate 0% – 38% 10% Absorption rate 25% – 44% 30% 132,640 Discounted cash flow (1) / (8) Discount rate / Market transactions 6% – 8% 7% 218,817 Market approach (2) Earnings multiple (3) 9x – 11x 11x 992,695 Market approach (2)(4) Underlying asset multiple 1x – 1.8x 1.6x 512,120 Recent transaction price (5) Not applicable Not applicable Not applicable 2,385,895 Recent market information (6) Quoted prices / discount 0% – 5% 3% 1,385,418 Sales approach (8) Market transactions Not applicable Not applicable 164,046 Other Not applicable Not applicable Not applicable Real estate loan portfolios: 2,101,463 Discounted cash flow (1)(7) Discount rate 7% – 23% 13% 495,942 Recent transaction price (5) Not applicable Not applicable Not applicable Total Level III $ 27,217,707 (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 marketplace participants. As described in note 2, other factors beyond the unobservable inputs described above may have a significant impact on investment valuations. During the year ended December 31, 2016, the valuation technique for one Level III credit-oriented investment changed from a discounted cash flow to a market approach based on comparable companies due to the anticipated restructuring of the portfolio company. During the year ended December 31, 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.

DERIVATIVES AND HEDGING

DERIVATIVES AND HEDGING	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING	DERIVATIVES AND HEDGING The Company enters into derivatives 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 derivatives 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 derivatives. As of December 31, 2016, the Company had one interest-rate swap outstanding, which expired in January 2017, that was designated to hedge the interest-rate risk of the $150.0 million outstanding principal balance remaining under the $250.0 million variable-rate bank term loan. As of December 31, 2016, the hedge continued to be effective. As of December 31, 2015, the Company had an additional interest-rate swap that expired in January 2016 and was designated to hedge the interest-rate risk covering up to $150.0 million of the same bank term loan. 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 foreign-currency forward sell contracts consisted of the following: As of December 31, 2016: Contract Contract Amount in U.S. Dollars Market Amount in U.S. Dollars Net Unrealized Appreciation (Depreciation) Euro, expiring 1/9/17-12/29/17 242,100 $ 271,848 $ 257,652 $ 14,196 USD (buy GBP), expiring 1/31/17-12/29/17 72,565 72,565 78,143 (5,578 ) Japanese Yen, expiring 1/31/17-2/28/17 6,150,000 52,511 52,792 (281 ) Total $ 396,924 $ 388,587 $ 8,337 As of December 31, 2015: Euro, expiring 1/8/16-12/30/16 246,850 $ 274,135 $ 269,603 $ 4,532 USD (buy GBP), expiring 1/8/16-10/31/16 70,594 70,594 72,476 (1,882 ) Japanese Yen, expiring 1/29/16-9/30/16 5,840,300 48,631 48,692 (61 ) Total $ 393,360 $ 390,771 $ 2,589 Realized and unrealized gains and losses arising from freestanding derivative instruments were recorded in the consolidated statements of operations as follows: Year Ended December 31, 2016 2015 2014 Investment income $ 4,630 $ — $ 2,554 General and administrative expense (1) (8,846 ) 23,554 31,772 Total $ (4,216 ) $ 23,554 $ 34,326 (1) To the extent that the Company’s freestanding derivatives are utilized to hedge its foreign-currency 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 expense. As of both December 31, 2016 and 2015, 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 derivatives in their 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 certain exposures for specific securities, and total-return 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 swaps is credit. None of the derivative instruments is accounted for as a hedging instrument utilizing hedge accounting. The impact of derivatives held by the consolidated funds in the consolidated statements of operations was as follows: Year Ended December 31, 2016 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 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Foreign-currency forward contracts $ 521 $ 264 $ 457,594 $ (98,420 ) $ 179,675 $ 278,647 Total-return and interest-rate swaps (2,353 ) (1,416 ) (215,837 ) (38,658 ) 54,437 (193,079 ) Options and futures (1,293 ) 3 43,055 (30,198 ) (38,431 ) 6,513 Swaptions — — (2,933 ) 2,186 (1,158 ) (4,770 ) Total $ (3,125 ) $ (1,149 ) $ 281,879 $ (165,090 ) $ 194,523 $ 87,311 Foreign-currency Forward Contracts Certain consolidated funds enter into foreign-currency forward contracts to hedge foreign currencies utilized in certain current investments or future purchase commitments. All commitments are valued using the applicable foreign-currency exchange rate, with the resulting unrealized gain or loss included in income. Gains or losses are realized at the time forward contracts are either extinguished or closed if entering into an offsetting contract. The average notional amounts of foreign-currency forward contracts outstanding during 2016 was $14.4 million long and zero short, and during 2015 were $5.4 billion long and $338.1 million short. Outstanding foreign-currency forward contracts as of December 31, 2016 and 2015, as shown in the table below, included $216 thousand and $156.2 million of gross unrealized appreciation, and $4 thousand and $64.4 million of gross unrealized depreciation, respectively. As of December 31, 2016: Buy (Sell) Contract Amount in Local Currency Contract Amount in U.S. Dollars Market Amount in U.S. Dollars Net Unrealized Appreciation (Depreciation) Euro, expiring 1/6/17-3/16/17 (10,248 ) $ 10,997 $ 10,821 $ 176 Pound Sterling, expiring 1/6/17 (901 ) 1,146 1,110 36 Total $ 12,143 $ 11,931 $ 212 As of December 31, 2015: Buy (Sell) Contract Amount in Local Currency Contract Amount in U.S. Dollars Market Amount in U.S. Dollars Net Unrealized Appreciation (Depreciation) Euro, expiring 1/12/16-11/13/18 (2,383,537 ) $ 2,630,690 $ 2,600,245 $ 30,445 Pound Sterling, expiring 1/12/16-11/14/16 (1,401,289 ) 2,135,175 2,065,891 69,284 Canadian Dollar, expiring 2/4/16-5/19/16 (46,505 ) 35,279 33,485 1,794 Australian Dollar, expiring 3/17/16 (323,440 ) 228,399 234,428 (6,029 ) Hong Kong Dollar, expiring 1/21/16 (1,896 ) 245 245 — Japanese Yen, expiring 1/21/16 -4/7/16 (7,651,169 ) 62,040 63,709 (1,669 ) Swiss Franc, expiring 1/21/16 (481 ) 493 481 12 Singapore Dollar, expiring 1/21/16 (2,444 ) 1,753 1,722 31 South Korean Won, expiring 1/4/16-12/1/16 (151,173,334 ) 132,553 128,757 3,796 New Zealand Dollar, expiring 3/17/16-6/9/16 (284,364 ) 178,371 193,723 (15,352 ) Danish Krone, expiring 11/4/16 (362,000 ) 54,167 53,316 851 Chinese Yuan, expiring 3/17/16-5/20/16 (466,187 ) 74,667 71,220 3,447 Swedish Krona, expiring 1/21/16 (145 ) (11 ) (17 ) 6 U.S. Dollar (buy Euro), expiring 1/12/16-11/18/16 (32,547 ) 37,577 32,323 5,254 Total $ 5,571,398 $ 5,479,528 $ 91,870 Balance Sheet Offsetting The Company recognizes all derivatives as assets or liabilities at fair value in its 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. While these derivatives are eligible to be offset in accordance with applicable accounting guidance, the Company has elected to present derivative assets and liabilities based on gross fair value in its consolidated statements of financial condition. The table below sets forth the setoff rights and related arrangements associated with derivatives held by the Company. The “gross amounts not offset in statements of financial condition” columns represent derivatives that management has elected not to offset in the consolidated statements of financial condition even though they are eligible to be offset in accordance with applicable accounting guidance. Gross and Net Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of December 31, 2016: Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ 16,142 $ 7,805 $ — $ 8,337 Derivative assets of consolidated funds: Foreign-currency forward contracts 216 4 — 212 Total-return and interest-rate swaps 141 141 — — Subtotal 357 145 — 212 Total $ 16,499 $ 7,950 $ — $ 8,549 Derivative Liabilities: Foreign-currency forward contracts $ (7,805 ) $ (7,805 ) $ — $ — Interest-rate swaps (60 ) — (60 ) Subtotal (7,865 ) (7,805 ) — (60 ) Derivative liabilities of consolidated funds: Foreign-currency forward contracts (4 ) (4 ) — — Total-return and interest-rate swaps (1,082 ) (141 ) (941 ) — Subtotal (1,086 ) (145 ) (941 ) — Total $ (8,951 ) $ (7,950 ) $ (941 ) $ (60 ) Gross and Net Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of December 31, 2015: Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ 5,875 $ 2,047 $ — $ 3,828 Derivative assets of consolidated funds: Foreign-currency forward contracts 156,234 38,033 — 118,201 Total-return and interest-rate swaps 16,544 4,526 — 12,018 Options and futures 25,559 5,665 — 19,894 Swaptions 14 14 — — Subtotal 198,351 48,238 — 150,113 Total $ 204,226 $ 50,285 $ — $ 153,941 Derivative Liabilities: Foreign-currency forward contracts $ (3,286 ) $ (2,047 ) $ — $ (1,239 ) Interest-rate swaps (943 ) — — (943 ) Subtotal (4,229 ) (2,047 ) — (2,182 ) Derivative liabilities of consolidated funds: Foreign-currency forward contracts (64,364 ) (38,788 ) — (25,576 ) Total-return and interest-rate swaps (231,610 ) (5,304 ) (202,677 ) (23,629 ) Options and futures (4,234 ) (4,146 ) (88 ) — Subtotal (300,208 ) (48,238 ) (202,765 ) (49,205 ) Total $ (304,437 ) $ (50,285 ) $ (202,765 ) $ (51,387 )

FIXED ASSETS

FIXED ASSETS	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
FIXED ASSETS	FIXED ASSETS Fixed assets, which consist of furniture and equipment, capitalized software, office leasehold improvements and company-owned aircraft, are included in other assets in the consolidated statements of financial position. In September 2016, the Company entered into a purchase contract and made a deposit for a new corporate aircraft to be delivered in 2017, at which time it plans to sell its existing corporate aircraft. In connection with its planned sale, the Company recorded a $4.4 million impairment charge on the existing aircraft within other income (expense), net. The fair value of the existing aircraft was based on prices for similar aircraft. The following table sets forth the Company’s fixed assets and accumulated depreciation: As of December 31, 2016 2015 Furniture, equipment and capitalized software $ 18,771 $ 16,820 Leasehold improvements 49,626 43,107 Corporate aircraft 66,277 12,439 Other 3,748 3,295 Fixed assets 138,422 75,661 Accumulated depreciation (45,344 ) (36,394 ) Fixed assets, net $ 93,078 $ 39,267

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLES	GOODWILL AND INTANGIBLES 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 is tested for impairment annually in the fourth quarter of each fiscal year, or more frequently if events or circumstances indicate that impairment may have occurred. As of December 31, 2016, the Company determined there was no goodwill impairment. The carrying value of goodwill was $69.3 million as of December 31, 2016 and 2015. The following table summarizes the carrying value of intangible assets: As of December 31, 2016 2015 Contractual rights $ 28,017 $ 28,017 Accumulated amortization (9,675 ) (5,671 ) Intangible assets, net $ 18,342 $ 22,346 Amortization expense associated with the Company's intangible assets was $4.0 million for the years ended December 31, 2016 and 2015, and $1.7 million for the year ended December 31, 2014. Amortization expense is estimated to be $4.0 million for each of the years ending December 31, 2017–2020, and $2.3 million for 2021. Goodwill and intangible assets are included in other assets in the consolidated statements of financial position.

DEBT OBLIGATIONS AND CREDIT FAC

DEBT OBLIGATIONS AND CREDIT FACILITIES	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
DEBT OBLIGATIONS AND CREDIT FACILITIES	DEBT OBLIGATIONS AND CREDIT FACILITIES The Company’s debt obligations are set forth below: As of December 31, 2016 2015 $50,000, 6.09%, issued in June 2006, matured on June 6, 2016 $ — $ 50,000 $50,000, 5.82%, issued in November 2006, matured on November 8, 2016 — 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, 2021 150,000 250,000 $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 $100,000, 3.69%, issued in July 2016, payable on July 12, 2031 100,000 — Total remaining principal 750,000 850,000 Less: Debt issuance costs (4,103 ) (3,646 ) Debt obligations $ 745,897 $ 846,354 As of December 31, 2016, future scheduled principal payments of debt obligations were as follows: 2017 $ — 2018 — 2019 250,000 2020 — 2021 150,000 Thereafter 350,000 Total $ 750,000 In June and November 2016, the Company paid an aggregate $100.0 million for the full maturing principal balances on its 6.09% and 5.82% senior notes. The Company was in compliance with all financial maintenance covenants associated with its senior notes and bank credit facility as of December 31, 2016 and 2015. 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, gross of debt issuance costs, was $756.6 million and $855.3 million as of December 31, 2016 and 2015, respectively, utilizing an average borrowing rate of 3.9% and 3.7% , respectively. As of December 31, 2016, a 10% increase in the assumed average borrowing rate would lower the estimated fair value to $739.2 million , whereas a 10% decrease would increase the estimated fair value to $774.8 million . In July 2016, the Company’s indirect subsidiary, Oaktree Capital Management, L.P. (the “Issuer”), issued and sold to certain accredited investors $100 million of 3.69% senior notes (the “Notes”) due July 12, 2031. The Notes are senior unsecured obligations of the Issuer, jointly and severally guaranteed by the Company’s indirect subsidiaries, Oaktree Capital I, L.P., Oaktree Capital II, L.P. and Oaktree AIF Investments, L.P. (together with the Issuer, the “Obligors”) pursuant to a note and guaranty agreement (the “Note Agreement”). The Company used the proceeds from the sale of the Notes to simultaneously repay $100 million of its $250 million term loan due March 31, 2021. 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 2016, Oaktree Capital Management, L.P., Oaktree Capital II, L.P., Oaktree AIF Investments, L.P., and Oaktree Capital I, L.P. (collectively, the “Borrowers”) entered into the Second Amendment to Credit Agreement (the “Second Amendment”), which amended the credit agreement dated as of March 31, 2014 (as amended through and including the Second Amendment, the “Credit Agreement”). The Credit Agreement consists of a $250 million fully-funded term loan (the “Term Loan”), of which $100 million was repaid in July 2016, and a $500 million revolving credit facility (the “Revolver”). The Second Amendment extended the maturity date of the Credit Agreement from March 31, 2019 to March 31, 2021, at which time the entire remaining principal balance of $150 million is due, and provides the Borrowers with the option to extend the new maturity date by one year if the lenders holding at least 50% of the aggregate amount of the term loan and the revolving loan commitment thereunder on the date of the Borrowers’ extension request consent to such extension. Borrowings under the Credit Agreement 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 an interest-rate swap, the Term Loan’s annual interest rate is fixed at 2.22% through January 2017, based on such current credit ratings. The Credit Agreement 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). The Second Amendment increased the minimum level of assets under management to $60 billion and made certain other amendments to the provisions of the Credit Agreement. As of December 31, 2016, the Company had no outstanding borrowings under its $500 million revolving credit facility and was able to draw the full amount available without violating any financial maintenance covenants. Credit Facilities of the Consolidated Funds Certain consolidated funds may 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) are subject to 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 may issue 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 Company adopted the new consolidation guidance as of January 1, 2016, resulting in the deconsolidation of substantially all of Oaktree’s investment funds as of that date. As of December 31, 2016, the consolidated funds had senior variable rate notes with an aggregate outstanding principal balance of $489.0 million . The fair value of the senior variable rate notes is a Level III valuation and approximated carrying value due to their recent issuance date as of December 31, 2016. Prior to adoption, as of December 31, 2015, the consolidated funds had credit facilities and senior variable rate notes with an aggregate outstanding principal balance of $6.5 billion . The fair value of the revolving credit facilities is a Level III valuation and approximated carrying value 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 $3.7 billion as of December 31, 2015, using prices obtained from pricing vendors. Financial instruments that are valued using quoted prices for the security 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: Outstanding Amount as of December 31, Facility Capacity LIBOR Margin (1) Maturity Commitment Fee Rate L/C Fee Credit Agreement 2016 2015 Credit facilities $ — $ 2,381,324 $ 450,000 1.25% 4/19/2019 N/A N/A Revolving credit facilities — 2,718,394 N/A N/A N/A N/A N/A Senior variable rate notes (2) 488,997 1,363,044 $ 489,000 Various 10/20/2027 N/A N/A Total debt obligations 488,997 6,462,762 Less: Debt issuance costs (5,041 ) (20,020 ) Total debt obligations, net $ 483,956 $ 6,442,742 (1) The facility bears interest at an annual rate of LIBOR plus the applicable margin. (2) The weighted average interest rate was 2.63% as of December 31, 2016. Debt Obligations of CLOs Debt obligations of CLOs represent amounts due to holders of debt securities issued by the CLOs, including term loans of CLOs that had not priced as of period end. The table below sets forth the outstanding debt obligations of CLOs as of the date indicated. As of December 31, 2016 As of December 31, 2015 Carrying Value (1) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Carrying Value Fair Value (2) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Senior secured notes (3) $ 471,603 2.90% 8.2 $ 457,196 $ 447,460 2.37% 9.3 Senior secured notes (3) 470,298 3.03% 9.9 454,423 446,558 2.52% 11.0 Senior secured notes (4) 49,336 3.31% 2.0 79,914 78,632 2.96% 3.0 Senior secured notes (5) 357,706 1.73% 10.7 363,709 357,626 2.26% 11.7 Senior secured notes (3) 467,084 2.96% 11.0 455,295 448,933 2.54% 12.0 Senior secured notes (5) 360,234 2.29% 11.3 361,142 359,914 2.29% 12.3 Senior secured notes (5) 395,458 2.28% 12.4 — — — — Senior secured notes (5) 382,161 1.99% 13.2 — — — — Subordinated note (6) 12,281 N/A 9.9 25,500 16,400 N/A 11.0 Subordinated note (6) 17,871 N/A 10.7 21,183 15,876 N/A 11.7 Subordinated note (6) 18,432 N/A 11.0 25,500 18,337 N/A 12.0 Subordinated note (6) 13,422 N/A 11.3 17,924 11,928 N/A 12.3 Subordinated note (6) 17,073 N/A 12.4 12,036 12,036 N/A 1.6 Subordinated note (6) 21,251 N/A 13.2 — — — — Term loan — — — 81,238 81,238 1.20% 1.6 Total CLO debt obligations 3,054,210 2,355,060 $ 2,294,938 Less: Debt issuance costs — (24,701 ) Total CLO debt obligations, net $ 3,054,210 $ 2,330,359 (1) The Company adopted the CLO measurement guidance on a modified retrospective approach as of January 1, 2016. Upon adoption, the Company elected the fair value option for the financial liabilities of the consolidated CLOs and determined that the fair value of the CLO assets was more observable than the fair value of the CLO liabilities. Accordingly, the fair value of CLO liabilities was measured as the fair value of CLO assets less the sum of (a) the fair value of any beneficial interests held by the Company and (b) the carrying value of any beneficial interests that represent compensation for services. Please see notes 2 and 6 for more information. (2) 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. (3) The weighted average interest rate is based on LIBOR plus a margin. (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 (subject to a zero floor) plus a margin. (6) The subordinated notes do not have a contractual interest rate; instead, they receive distributions from the excess cash flows generated by the CLO. 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 December 31, 2016 and 2015, the fair value of CLO assets was $3.4 billion and $2.6 billion , respectively, and consisted of cash, corporate loans, corporate bonds and other securities. As of December 31, 2016, future scheduled principal (or par value) payments with respect to the debt obligations of CLOs were as follows: 2017 $ — 2018 49,336 2019 — 2020 — 2021 — Thereafter 3,002,952 Total $ 3,052,288

NON-CONTROLLING REDEEMABLE INTE

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS	12 Months Ended
	Dec. 31, 2016
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 presented on a gross basis in the table below. Year Ended December 31, 2016 2015 2014 Beginning balance $ 38,173,125 $ 41,681,155 $ 38,834,831 Cumulative-effect adjustment from adoption of accounting guidance (37,969,042 ) — — Contributions 144,060 5,796,081 9,420,044 Distributions (56,557 ) (7,407,437 ) (7,962,362 ) Net income (loss) 20,988 (1,812,539 ) 1,647,753 Change in distributions payable (4,227 ) 387,989 (528,051 ) Change in accrued or deferred contributions — 526 (26,760 ) Initial consolidation of a fund 34,095 — 902,979 Foreign-currency translation and other 1,605 (472,650 ) (607,279 ) Ending balance $ 344,047 $ 38,173,125 $ 41,681,155

UNITHOLDERS' CAPITAL

UNITHOLDERS' CAPITAL	12 Months Ended
	Dec. 31, 2016
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, 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 December 31, 2016 and 2015, respectively, OCGH units represented 91,758,067 of the total 154,790,343 Oaktree Operating Group units and 91,937,873 of the total 153,907,733 Oaktree Operating Group units. Based on total allocable Oaktree Operating Group capital of $1,754,882 and $1,575,504 as of December 31, 2016 and 2015, respectively, the OCGH non-controlling interest was $1,040,274 and $941,141 . As of December 31, 2016 and 2015, non-controlling interests attributable to certain related parties and third parties was $10,045 and $102,789 , respectively. Distributions per Class A unit are set forth below: Payment Date Record Date Applicable to Quarterly Period Ended Distribution Per Unit November 14, 2016 November 7, 2016 September 30, 2016 $ 0.65 August 12, 2016 August 8, 2016 June 30, 2016 0.58 May 13, 2016 May 9, 2016 March 31, 2016 0.55 February 26, 2016 February 19, 2016 December 31, 2015 0.47 Total 2016 $ 2.25 November 12, 2015 November 9, 2015 September 30, 2015 $ 0.40 August 13, 2015 August 10, 2015 June 30, 2015 0.50 May 14, 2015 May 11, 2015 March 31, 2015 0.64 February 25, 2015 February 19, 2015 December 31, 2014 0.56 Total 2015 $ 2.10 November 13, 2014 November 10, 2014 September 30, 2014 $ 0.62 August 14, 2014 August 11, 2014 June 30, 2014 0.55 May 15, 2014 May 12, 2014 March 31, 2014 0.98 February 27, 2014 February 24, 2014 December 31, 2013 1.00 Total 2014 $ 3.15 The following table sets forth a summary of net income attributable to the OCGH non-controlling interest and to Class A unitholders: Year Ended December 31, 2016 2015 2014 Weighted average Oaktree Operating Group units outstanding (in thousands): OCGH non-controlling interest 92,122 104,427 110,078 Class A unitholders 62,565 49,324 42,582 Total weighted average units outstanding 154,687 153,751 152,660 Oaktree Operating Group net income: Net income attributable to OCGH non-controlling interest $ 343,781 $ 195,162 $ 386,398 Net income attributable to Class A unitholders 233,765 87,620 146,446 Oaktree Operating Group net income (1) $ 577,546 $ 282,782 $ 532,844 Net income attributable to Oaktree Capital Group, LLC: Oaktree Operating Group net income attributable to Class A unitholders $ 233,765 $ 87,620 $ 146,446 Non-Operating Group expenses (1,176 ) (2,097 ) (1,645 ) Income tax expense of Intermediate Holding Companies (37,884 ) (14,174 ) (18,518 ) Net income attributable to Oaktree Capital Group, LLC $ 194,705 $ 71,349 $ 126,283 (1) Oaktree Operating Group net income does not include amounts attributable to other non-controlling interests, which amounted to $4,696 , $10,214 and $12,981 for the years ended December 31, 2016, 2015 and 2014, respectively. The change in the Company’s ownership interest in the Oaktree Operating Group is set forth below: Year Ended December 31, 2016 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 194,705 $ 71,349 $ 126,283 Equity reallocation between controlling and non-controlling interests 14,388 181,539 51,525 Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests $ 209,093 $ 252,888 $ 177,808 In November 2015, the Company’s board of directors approved the exchange of 12,998,725 outstanding vested and unvested OCGH units (the “November 2015 Exchange”) held by employees, former employees and other existing OCGH unitholders into an equal number of Class A units, which continued to be owned by the same unitholders. The exchange did not result in an increase to the tax receivable agreement liability. The Class A units issued in the exchange are subject to a three -year lock-up that is scheduled to be released in equal quarterly increments, generally two business days after the Company’s quarterly earnings release, beginning with the earnings release for the fourth quarter of 2015 that was announced on February 9, 2016. As a result, approximately 1.1 million Class A units will become newly eligible for sale each quarter through the earnings release for the third quarter of 2018. 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. In March 2014, the Company issued and sold 5,000,000 Class A units in a public offering (the “March 2014 Offering”), resulting in $296.7 million in proceeds to the Company. The Company did not retain any proceeds from the sale of Class A units in the March 2014 Offering. The proceeds from the March 2014 Offering were used to acquire interests in the Company’s business from certain of the Company’s directors, employees and other investors, including certain senior executives and other members of the Company’s senior management. Please see notes 13, 14 and 15 for additional information regarding transactions that impacted unitholders’ capital.

EARNINGS PER UNIT

EARNINGS PER UNIT	12 Months Ended
	Dec. 31, 2016
Earnings Per Unit [Abstract]
EARNINGS PER UNIT	EARNINGS PER UNIT The computation of net income per Class A unit is set forth below: Year Ended December 31, 2016 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 $ 194,705 $ 71,349 $ 126,283 Weighted average number of Class A units outstanding (basic and diluted) 62,565 49,324 42,582 Basic and diluted net income per Class A unit $ 3.11 $ 1.45 $ 2.97 Vested OCGH units may be exchanged on a one -for- one basis into Class A units, subject to certain restrictions. As of December 31, 2016, there were 91,758,067 OCGH units outstanding, which are vested or will vest through March 1, 2026, that ultimately may be exchanged into 91,758,067 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 years ended December 31, 2016, 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 December 31, 2016, 2015 and 2014, 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 each of those years. Please see note 16 for more information.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EQUITY-BASED COMPENSATION	EQUITY-BASED COMPENSATION In December 2011, the Company adopted the 2011 Oaktree Capital Group, LLC Equity Incentive Plan (the “2011 Plan”). The 2011 Plan provides for the granting of options, unit appreciation rights, restricted unit awards, unit bonus awards, phantom equity awards or other unit-based awards to senior executives, directors, officers, certain employees, consultants, and advisors of the Company and its affiliates. As of December 31, 2016, a maximum of 23,086,160 units have been authorized to be awarded pursuant to the 2011 Plan, and 9,363,365 units (including 2,000,000 EVUs and 36,387 phantom units) have been awarded under the 2011 Plan. A total of 4,954,976 OCGH units were awarded and issued pursuant to the 2007 Oaktree Capital Group Equity Incentive Plan, which was discontinued for future issuances on March 28, 2012. Each Class A and OCGH unit, when issued, represents an indirect interest in one Oaktree Operating Group unit. Total vested and unvested Class A and OCGH units issued and outstanding were 154,790,343 as of December 31, 2016. Pursuant to the terms of the OCGH limited partnership agreement, the general partner of OCGH may elect at its discretion to declare an open period during which an OCGH unitholder may exchange its OCGH units for, at the option of the Company’s board of directors, Class A units, an equivalent amount of cash based on then-prevailing market prices, other consideration of equal value, or any combination of the foregoing under the terms of the Company’s exchange agreement, as amended. The general partner determines the number of units eligible for exchange within a given open period and, if the OCGH unitholders request to exchange a number of units in excess of the amount eligible for exchange, the general partner determines which units to exchange taking into account appropriate factors. In addition, the general partner of OCGH may at its sole discretion cause a mandatory sale or exchange of OCGH units owned by any OCGH unitholder. Upon approval by the Company’s board of directors, OCGH units selected for exchange in accordance with the foregoing will be exchanged, at the option of the board of directors, into Class A units, an equivalent amount of cash based on then-prevailing market prices, other consideration of equal value, or any combination of the foregoing pursuant to the terms of the exchange agreement. The exchange agreement generally provides that (a) such OCGH units will be acquired by the Intermediate Holding Companies in exchange for, at the option of the Company’s board of directors, Class A units, an equivalent amount of cash based on then-prevailing market prices, other consideration of equal value, or any combination of the foregoing, (b) the OCGH units acquired by the Intermediate Holding Companies may then be redeemed by OCGH in exchange for Oaktree Operating Group units, (c) the Intermediate Holding Companies may exchange Oaktree Operating Group units with each other such that, immediately after such exchange, each Intermediate Holding Company holds Oaktree Operating Group units only in the Oaktree Operating Group entity for which such Intermediate Holding Company serves as the general partner and (d) the Company will cancel a corresponding number of Class B units. Class A and OCGH Unit Awards In 2016, the Company granted 830,949 Class A units and 879,667 restricted OCGH units to its employees and directors, subject to annual vesting over a weighted average period of approximately 5.0 years. As of December 31, 2016, the Company expected to recognize compensation expense on its unvested Class A and OCGH unit awards of $141.5 million over a weighted average period of 4.1 years . The Company utilizes a contemporaneous valuation report in determining fair value at the date of grant for OCGH unit awards. Each valuation report is based on the market price of Oaktree’s Class A units. A discount is then applied to the Class A unit market price to reflect the lack of marketability for the OCGH units. The determination of an appropriate discount for lack of marketability is based on a review of discounts on the sale of restricted shares of publicly traded companies and multi-period put-based quantitative methods. Factors that influence the size of the discount for lack of marketability include (a) the estimated time it would take for an OCGH unitholder to exchange units into Class A units, (b) the volatility of the Company’s business and (c) thin trading of the Class A units. Each of these factors is subject to significant judgment. The estimated time-to-liquidity assumption was 5.5 years in the first quarter of 2014 and 5.6 years in the most recent valuation in 2016. The estimated time to liquidity is influenced primarily by the need for (a) the general partner of OCGH to elect in its discretion to declare an open period during which an OCGH unitholder may exchange his or her unrestricted vested OCGH units for, at the option of the Company’s board of directors, Class A units on a one -for- one basis, an equivalent amount of cash based on then-prevailing market prices, other consideration of equal value or any combination of the foregoing, and (b) the approval of the Company’s board of directors to exchange such OCGH units into any of the foregoing. Board approval is based primarily on the objective of maintaining an orderly market for Oaktree’s units, but may take into account any other factors that the board may deem appropriate in its sole discretion. Volatility is estimated from historical and implied volatilities of the Company and six comparable public alternative asset management companies. In valuing employee OCGH unit grants, the discount percentage applied to the then-prevailing Class A unit trading price was 25% from January 1, 2014 to April 30, 2014, and 20% from May 1, 2014 to December 31, 2016. The decline in the discount percentage was primarily attributable to lower volatility. The calculation of compensation expense assumes a forfeiture rate of up to 3.0% annually, based on expected employee turnover. Compensation expense is revised annually or more frequently, as necessary, to adjust for actual forfeitures and to reflect expense only for those units that ultimately vest. In each period presented, forfeitures were not materially different from the assumed rate. A summary of the status of the Company’s unvested Class A and OCGH unit awards and a summary of changes for the periods presented are set forth below (actual dollars per unit): Class A Units OCGH Units Number of Units Weighted Average Grant Date Fair Value Number of Units Weighted Average Grant Date Fair Value Balance, December 31, 2013 16,582 $ 45.34 4,465,722 $ 30.30 Granted 7,164 58.88 1,770,418 43.98 Vested (4,697 ) 44.54 (1,109,170 ) 24.90 Forfeited — — (55,978 ) 34.42 Balance, December 31, 2014 19,049 50.63 5,070,992 36.21 Granted 7,940 55.75 1,175,213 44.04 Vested (50,931 ) 40.11 (1,421,597 ) 32.38 Exchanged (1) 2,418,282 38.10 (2,418,282 ) 38.10 Forfeited (18,000 ) 42.29 (140,359 ) 35.68 Balance, December 31, 2015 2,376,340 38.18 2,265,967 40.70 Granted 830,949 46.79 879,667 35.96 Vested (997,039 ) 37.71 (601,249 ) 39.18 Forfeited (81,850 ) 35.63 (206,432 ) 34.60 Balance, December 31, 2016 2,128,400 $ 41.86 2,337,953 $ 39.80 (1) Represents the unvested units with respect to the November 2015 exchange of 12,998,725 outstanding vested and unvested OCGH units into an equal number of Class A units. 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. Certain EVUs provide the holder with certain liquidity rights in respect of the one-time special distribution that will be settled in OCGH units. The Company accounts for EVUs with liquidity rights as liability-classified awards. As of December 31, 2016, there were 1,000,000 equity-classified EVUs and 1,000,000 liability-classified EVUs outstanding. As of December 31, 2016, the Company expected to recognize $5.3 million of compensation expense on its unvested EVUs over the next 3.0 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	12 Months Ended
	Dec. 31, 2016
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 estmated nature of many amounts and the mix of revenues and expenses between the subsidiaries that are or are not subject to income tax; consequently, from period to period the effective tax rate is subject to significant variation. Income tax expense from operations consisted of the following: Year Ended December 31, 2016 2015 2014 Current: U.S. federal income tax $ 10,268 $ 1,478 $ 4,128 State and local income tax 6,154 1,650 (372 ) Foreign income tax 1,436 2,621 2,245 $ 17,858 $ 5,749 $ 6,001 Deferred: U.S. federal income tax $ 23,835 $ 11,306 $ 12,544 State and local income tax 2,110 786 1,836 Foreign income tax (1,284 ) (292 ) (1,845 ) $ 24,661 $ 11,800 $ 12,535 Total: U.S. federal income tax $ 34,103 $ 12,784 $ 16,672 State and local income tax 8,264 2,436 1,464 Foreign income tax 152 2,329 400 Income tax expense $ 42,519 $ 17,549 $ 18,536 The Company’s income (loss) before income taxes consisted of the following: Year Ended December 31, 2016 2015 2014 Domestic income (loss) before income taxes $ 623,712 $ (1,518,108 ) $ 2,195,174 Foreign income (loss) before income taxes (15,090 ) 2,695 (1,086 ) Total income (loss) before income taxes $ 608,622 $ (1,515,413 ) $ 2,194,088 The Company’s effective tax rate differed from the federal statutory rate for the following reasons: Year Ended December 31, 2016 2015 2014 Income tax expense at federal statutory rate 35.00 % 35.00 % 35.00 % Income passed through (30.31 ) (35.91 ) (34.15 ) State and local taxes, net of federal benefit 1.28 (0.17 ) 0.05 Foreign taxes 0.89 (0.09 ) 0.04 Other, net 0.13 0.01 (0.10 ) Total effective rate 6.99 % (1.16 )% 0.84 % The components of the Company’s deferred tax assets and liabilities were as follows: As of December 31, 2016 2015 2014 Deferred tax assets: Investment in partnerships $ 386,796 $ 414,142 $ 351,962 Equity-based compensation expense 4,449 3,773 5,514 Other, net 14,329 9,675 3,071 Total deferred tax assets 405,574 427,590 360,547 Total deferred tax liabilities 960 1,792 3,183 Net deferred tax assets before valuation allowance 404,614 425,798 357,364 Valuation allowance — — — Net deferred tax assets $ 404,614 $ 425,798 $ 357,364 When assessing the realizability of deferred tax assets, the Company considers whether it is probable that some or all of the deferred tax assets will not be realized. In determining whether the deferred tax assets are realizable, the Company considers the period of expiration of the tax asset, historical and projected taxable income, and tax liabilities for the tax jurisdiction in which the tax asset is located. The deferred tax asset recognized by the Company, as it relates to the higher tax basis in the carrying value of certain assets compared to the book basis of those assets, will be recognized in future years by these taxable entities. Deferred tax assets are based on the amount of the tax benefit that the Company’s management has determined is more likely than not to be realized in future periods. In determining the realizability of this tax benefit, management considered numerous factors that will give rise to pre-tax income in future periods. Among these are the historical and expected future book and tax basis pre-tax income of the Company and unrealized gains in the Company’s assets at the determination date. Based on these and other factors, the Company determined that, as of December 31, 2016, all deferred tax assets were more likely than not to be realized in future periods. The Company recognizes tax benefits related to its tax positions only where the position is “more likely than not” to be sustained in the event of examination by tax authorities. As part of its assessment, the Company analyzes its tax filing positions in all of the federal, state and foreign tax jurisdictions where it is required to file income tax returns, and for all open tax years in these jurisdictions. As of December 31, 2016, the total reserve balance, including interest and penalties, was $8.9 million . The following is a reconciliation of unrecognized tax benefits (excluding interest and penalties thereon): Year Ended December 31, 2016 2015 2014 Unrecognized tax benefits, January 1 $ 4,956 $ 5,575 $ 10,390 Additions for tax positions related to the current year 350 1,156 1,492 Additions for tax positions related to prior years 2,121 109 — Reductions for tax positions related to prior years (79 ) — (1,373 ) Settlements — — (3,657 ) Lapse in statute of limitations (1,580 ) (1,884 ) (1,277 ) Unrecognized tax benefits, December 31 $ 5,768 $ 4,956 $ 5,575 If the above tax benefits as of December 31, 2016 were to be recognized in 2016, the $5.8 million would impact the annual effective tax rate. The Company recognizes interest and penalties related to unrecognized tax positions in the provision for income taxes in the consolidated statements of operations. As of December 31, 2016 and 2015, respectively, the aggregate amount of interest and penalties accrued was $3.1 million and $1.5 million . The Company recognized a net expense of $1.6 million in 2016, no net change in 2015 and a net benefit of $2.9 million in 2014. There was no net change in the amount of interest and penalties accrued between December 31, 2014 and December 31, 2015, because the $0.9 million charge for interest and penalties in 2015 was fully offset by a $0.9 million benefit from the reversal of prior-year accruals upon the lapse in the statute of limitations. The Company files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by federal, state, local and foreign tax regulators. With limited exceptions, the Company is no longer subject to income tax audits by taxing authorities for periods before 2013. Taxing authorities currently are examining certain income tax returns of Oaktree, with certain of these examinations at an advanced stage. During the year ending December 31, 2017, 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 $4.6 million of previously accrued Operating Group income taxes. 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 consolidated financial statements; however, there can be no assurances as to the ultimate outcomes. Exchange Agreement and Tax Receivable Agreement Subject to certain restrictions and the approval of the Company’s board of directors, each holder of OCGH units has the right to exchange his or her vested units for, at the option of the Company’s board of directors, Class A units, an equivalent amount of cash based on then-prevailing market prices and/or other consideration of equal value. Certain of the Oaktree Operating Group entities made an election under Section 754 of the U.S. Internal Revenue Code, as amended (the “Code”), which may result in an adjustment to the tax basis of the assets owned by the Oaktree Operating Group at the time of an exchange. These exchanges may result in increases in tax deductions and tax basis that would reduce the amount of tax that Oaktree Holdings, Inc. and Oaktree AIF Holdings, Inc. would otherwise be required to pay in the future. Oaktree Holdings, Inc. and Oaktree AIF Holdings, Inc. have entered into a tax receivable agreement with OCGH unitholders that, as amended, provides for the payment to an exchanging or selling OCGH unitholder of 85% of the amount of cash savings, if any, in U.S. federal, state, local and foreign income taxes that they actually realize (or are deemed to realize in the case of an early termination payment by Oaktree Holdings, Inc. or Oaktree AIF Holdings, Inc., or a change of control) as a result of an increase in the tax basis of the assets owned by the Oaktree Operating Group. When an exchange of OCGH units results in an increase to the tax basis of the assets owned by the Oaktree Operating Group, a deferred tax asset and an associated liability for payments to OCGH unitholders under the tax receivable agreement are recorded, subject to realizability considerations. The establishment of a deferred tax asset increases additional paid-in capital because the transactions are between Oaktree and its unitholders. Assuming no material changes in the relevant tax law and that the Company earns sufficient taxable income to realize the full tax benefit of the increased amortization of the assets, the expected future payments to OCGH unitholders under the tax receivable agreement, as of December 31, 2016, are estimated to aggregate $33.4 million over the period ending approximately in 2029 with respect to the 2007 Private Offering, $71.3 million over the period ending approximately in 2034 with respect to the initial public offering, $99.0 million over the period ending approximately in 2035 with respect to the May 2013 Offering, $74.5 million over the period ending approximately in 2036 with respect to the March 2014 Offering, and $62.7 million over the period ending approximately in 2037 with respect to the March 2015 Offering. Future estimated payments to OCGH unitholders under the tax receivable agreement are subject to increase in the event of additional exchanges of OCGH units. In the years ended December 31, 2016, 2015 and 2014, respectively, $18.8 million , $15.7 million and $10.1 million were paid under the tax receivable agreement.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2016
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 Oaktree, its affiliates, investment professionals, and portfolio companies are routinely involved in litigation and other legal actions in the ordinary course of their business and investing activities. In addition, Oaktree is subject to the authority of a number of U.S. and non-U.S. regulators, including the SEC and the Financial Industry Regulatory Authority, and those authorities periodically conduct examinations of Oaktree and make other inquiries that may result in the commencement of regulatory proceedings against Oaktree and its personnel. Oaktree is currently not subject to any pending actions or regulatory proceedings that either individually or in the aggregate are expected to have a material impact on its 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 December 31, 2016 and 2015, respectively, the aggregate of such amounts recorded at the fund level in excess of incentive income recognized by the Company was $1,970,755 and $1,540,469 , for which related direct incentive income compensation expense was estimated to be $1,026,345 and $750,077 . 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 of August 2014. As of December 31, 2016 and 2015, the fair value of the contingent consideration liability was $23.6 million and $28.5 million , respectively. Changes in this liability resulted in income of $4.9 million in 2016, and expense of $1.2 million and $1.7 million in 2015 and 2014, respectively. The fair value of the contingent consideration liability is a Level III valuation, which uses a discounted cash-flow analysis based on a probability-weighted average estimate of certain performance targets, including fundraising and revenue levels. The assumptions used in the analysis are inherently subjective, and thus the ultimate amount of the contingent consideration liability may differ materially from the most recent estimate. The contingent consideration liability is included in accounts payable, accrued expenses and other liabilities in the consolidated statements of financial condition. Changes in the liability are recorded in general and administrative expense in the consolidated statements of operations. Commitments to Funds As of December 31, 2016 and 2015, the Company, generally in its capacity as general partner, had undrawn capital commitments of $565.4 million and $469.4 million , respectively, including commitments to both unconsolidated and consolidated funds. Operating Leases Oaktree leases its main headquarters office in Los Angeles and offices in 17 other cities in the U.S., Europe, Asia and Australia, pursuant to current lease terms expiring through 2030. Occupancy costs, including non-lease expenses, were $22,637 , $19,305 and $18,040 for the years ended December 31, 2016, 2015 and 2014, respectively. As of December 31, 2016, aggregate estimated minimum commitments under Oaktree’s operating leases were as follows: 2017 $ 10,056 2018 14,275 2019 14,556 2020 14,961 2021 11,672 Thereafter 55,480 Total $ 121,000 Investment Commitments of Consolidated Funds Certain of the consolidated funds are parties to credit arrangements that provide for the issuance of letters of credit and/or revolving loans, which may require the particular fund to extend loans to investee companies. The consolidated funds use the same investment criteria in making these commitments as they do for investments that are included in the consolidated statements of financial condition. The unfunded liability associated with these credit arrangements is equal to the amount by which the contractual loan commitment exceeds the sum of funded debt and cash held in escrow, if any. As of December 31, 2016 and 2015, the consolidated funds had potential aggregate commitments of $2.1 million and $1.3 billion , respectively. These commitments are expected to be funded by the funds’ cash balances, proceeds from asset sales or drawdowns against existing capital commitments. A consolidated fund may agree to guarantee the repayment obligations of certain investee companies. As of December 31, 2016 and 2015, the aggregate amounts guaranteed were zero and $142.4 million , respectively. Certain 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. During the year ended December 31, 2016, the consolidated funds did not provide any financial support to portfolio companies.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2016
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
EMPLOYEE BENEFITS	EMPLOYEE BENEFITS Oaktree provides certain employee benefits, including a voluntary 401(k) savings plan for which the Company makes an annual profit sharing contribution equal to up to 4.5% of total compensation for employees below certain compensation levels and up to 13.2% of total compensation, subject to prescribed limits, for employees meeting certain eligibility requirements. For the years ended December 31, 2016, 2015 and 2014, the Company incurred expenses of $8.8 million , $9.1 million and $7.8 million , respectively, in connection with the plan. Oaktree also has a discretionary annual bonus program for all employees, which is based, in part, on adjusted net income.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company considers its senior executives, employees and unconsolidated 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 due to their short-term nature or because their average interest rate, which ranged from 2% to 3% , approximated the Company’s cost of debt. The fair value of amounts due to affiliates approximated $164,335 and $160,952 as of December 31, 2016 and 2015, respectively, based on a discount rate of 10.0% . As of December 31, 2016 2015 Due from affiliates: Loans $ 19,325 $ 29,718 Amounts due from unconsolidated funds 53,573 777 Management fees and incentive income due from unconsolidated funds 130,708 — Payments made on behalf of unconsolidated entities 3,779 3,788 Non-interest bearing advances made to certain non-controlling interest holders and employees 1,258 1,616 Total due from affiliates $ 208,643 $ 35,899 Due to affiliates: Due to OCGH unitholders in connection with the tax receivable agreement (please see note 15) $ 340,966 $ 356,851 Amounts due to senior executives, certain non-controlling interest holders and employees 5,577 — Total due to affiliates $ 346,543 $ 356,851 Loans Loans primarily consist of interest-bearing loans made to certain non-controlling interest holders, primarily certain 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, typically bear interest at the Company’s cost of debt and generated interest income of $906 , $2,144 and $1,440 for the years ended December 31, 2016, 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 paid by the Company, which typically are employee travel and other costs associated with particular portfolio company holdings, are reimbursed to the Company by the portfolio companies. In January 2016, the Company extended a short-term loan to one of the investment funds that it manages. The loan and accrued interest were fully repaid as of June 30, 2016. Revenues Earned From Oaktree Funds Management fees and incentive income earned from unconsolidated Oaktree funds totaled $1.0 billion , $75.2 million and $67.7 million for the years ended December 31, 2016, 2015 and 2014, respectively. 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 reimbursed generally toward the end of the calendar quarter in which the capital calls occurred. Amounts advanced by the Company are included above in non-interest bearing advances made to certain non-controlling interest holders and employees. Aircraft Services In March 2015, the Company exercised a purchase option on an airplane lease for $12.5 million . Howard Marks, the Company’s co-chairman, may use this aircraft for personal travel, in which case he reimburses the Company, pursuant to Company policy as of December 31, 2016. Additionally, the Company occasionally makes use of an aircraft owned by one of its senior executives for business purposes at a price to the Company that is based on market rates. In September 2016, the Company entered into a purchase contract and made a deposit for a new corporate aircraft expected to be delivered in 2017, at which time it plans to sell its existing corporate aircraft. 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.

CAPITAL REQUIREMENTS OF REGULAT

CAPITAL REQUIREMENTS OF REGULATED ENTITIES	12 Months Ended
	Dec. 31, 2016
Regulatory Capital Requirements [Abstract]
CAPITAL REQUIREMENTS OF REGULATED ENTITIES	CAPITAL REQUIREMENTS OF REGULATED ENTITIES One of the Company’s indirect subsidiaries is a registered U.S. broker-dealer that is subject to the minimum net capital requirements of the U.S. Securities and Exchange Commission and the U.S. Financial Industry Regulatory Authority. Additionally, one of the Company’s indirect subsidiaries based in London is subject to the capital requirements of the U.K. Financial Conduct Authority, and another based in Hong Kong is subject to the capital requirements of the Hong Kong Securities and Futures Ordinance. These entities operate in excess of their respective regulatory capital requirements. The regulatory capital requirements referred to above may restrict the Company’s ability to withdraw capital from its entities for purposes such as paying cash distributions or advances to the Company. As of December 31, 2016 and 2015, respectively, there was approximately $92.8 million and $71.3 million of such potentially restricted amounts.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2016
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 for segment reporting as expenses and under GAAP as other income. In addition, ANI excludes the effect of (a) non-cash equity-based compensation expense related to unit grants made before our 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 as equity awards for segment reporting, (d) income taxes, (e) other income or expenses applicable to OCG or its Intermediate Holding Companies, and (f) the adjustment for non-controlling interests. Moreover, third-party placement costs associated with closed-end funds under GAAP are expensed as incurred, but for ANI are capitalized and amortized as general and administrative expense in proportion to the associated management fee stream. Gains and losses resulting from foreign-currency transactions and hedging activities under GAAP are recognized as general and administrative expense whether realized or unrealized in the current period, but for ANI unrealized gains and losses from foreign-currency hedging activities are deferred until realized, at which time they are included in the same revenue or expense line item as the underlying exposure that was hedged. Additionally, for ANI, foreign-currency transaction gains and losses are included in other income (expense), net. 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. CLO investments are carried at fair value for GAAP reporting, whereas for segment reporting they are carried at amortized cost, subject to any impairment charges. Investment income on CLO investments is recognized in ANI when cash distributions are received. Cash distributions are allocated between income and return of capital based on the effective yield method. ANI is calculated at the Operating Group level. ANI was as follows: Year Ended December 31, 2016 2015 2014 Revenues: Management fees $ 785,673 $ 753,805 $ 762,823 Incentive income 355,152 263,806 491,402 Investment income 221,377 48,253 117,662 Total revenues 1,362,202 1,065,864 1,371,887 Expenses: Compensation and benefits (381,937 ) (404,442 ) (379,360 ) Equity-based compensation (51,759 ) (37,978 ) (19,705 ) Incentive income compensation (169,683 ) (141,822 ) (231,871 ) General and administrative (123,784 ) (120,783 ) (127,954 ) Depreciation and amortization (12,219 ) (10,018 ) (7,249 ) Total expenses (739,382 ) (715,043 ) (766,139 ) Adjusted net income before interest and other income (expense) 622,820 350,821 605,748 Interest expense, net of interest income (1) (31,845 ) (35,032 ) (30,190 ) Other income (expense), net (8,392 ) (3,927 ) (2,431 ) Adjusted net income $ 582,583 $ 311,862 $ 573,127 (1) Interest income was $6.6 million , $5.1 million and $3.6 million for the years ended December 31, 2016, 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. Year Ended December 31, 2016 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 194,705 $ 71,349 $ 126,283 Incentive income (1) 1,407 (19,002 ) 28,813 Incentive income compensation (1) (1,407 ) 19,009 (10,677 ) Investment income (2) (21,814 ) — — Equity-based compensation (3) 11,965 16,403 21,690 Placement costs (4) 11,870 3,619 — Foreign-currency hedging (5) 1,496 2,619 (2,003 ) Acquisition-related items (6) (924 ) 5,251 2,442 Income taxes (7) 42,519 17,549 18,536 Non-Operating Group expenses (8) 1,176 2,097 1,645 Non-controlling interests (8) 341,590 192,968 386,398 Adjusted net income $ 582,583 $ 311,862 $ 573,127 (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 differences in the recognition of investment income related to corporate investments in CLOs, which under GAAP are marked-to-market but for segment reporting are accounted for at amortized cost, subject to impairment. (3) This adjustment adds back the effect of (a) equity-based compensation expense related to unit grants made before our initial public offering, which is excluded from adjusted net income and fee-related earnings because it is a non-cash charge that does not affect our financial position, and (b) differences arising from EVUs that are classified as liability awards under GAAP but as equity awards for segment reporting. (4) This adjustment adds back the effect of timing differences with respect to the recognition of third-party placement costs associated with closed-end funds between adjusted net income and net income attributable to OCG. (5) This adjustment adds back the effect of timing differences associated with the recognition of unrealized gains and losses related to foreign-currency hedging between adjusted net income and net income attributable to OCG. (6) This adjustment adds back the effect of acquisition-related items associated with the amortization of intangibles and changes in the contingent consideration liability, which are excluded from adjusted net income. (7) Because adjusted net income and fee-related earnings are pre-tax measures, this adjustment adds back the effect of income tax expense. (8) Because adjusted net income and fee-related earnings are 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 consolidated financial statements: As of or for the Year Ended December 31, 2016 Segment Adjustments Consolidated Management fees (1) $ 785,673 $ (11,086 ) $ 774,587 Incentive income (1) 355,152 (3,993 ) 351,159 Investment income (1) 221,377 (22,251 ) 199,126 Total expenses (2) (739,382 ) (49,954 ) (789,336 ) Interest expense, net (3) (31,845 ) (88,765 ) (120,610 ) Other income (expense), net (4) (8,392 ) 21,882 13,490 Other income of consolidated funds (5) — 180,206 180,206 Income taxes — (42,519 ) (42,519 ) Net income attributable to non-controlling interests in consolidated funds — (22,921 ) (22,921 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (348,477 ) (348,477 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 582,583 $ (387,878 ) $ 194,705 Corporate investments (6) $ 1,480,928 $ (357,196 ) $ 1,123,732 Total assets (7) $ 3,313,714 $ 4,335,396 $ 7,649,110 (1) The adjustment represents (a) the elimination of amounts earned from the consolidated funds, (b) for management fees, the reclassification of $408 of net gains related to foreign-currency hedging activities to general and administrative expense and (c) for investment income, differences of $21,814 related to corporate investments in CLOs, which under GAAP are marked-to-market but for segment reporting accounted for at amortized cost, subject to impairment. (2) The expense adjustment consists of (a) equity-based compensation expense of $13,627 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $4,428 , (c) expenses incurred by the Intermediate Holding Companies of $1,051 , (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 $1,407 , (e) acquisition-related items of $924 , (f) adjustments of $21,194 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 $1,661 arising from EVUs that are classified as liability awards under GAAP but as equity awards for segment reporting, (h) $11,870 related to third-party placement costs, and (i) $1,776 of net losses related to foreign-currency hedging activities. (3) The interest expense adjustment represents the inclusion of interest expense attributable to third-party investors in CLOs, 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 (a) amounts received for contractually reimbursable costs of $21,194 that are classified as expenses for segment reporting and as other income under GAAP, and (b) the reclassification of $688 of net losses related to foreign-currency hedging activities to general and administrative expense. (5) The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to third-party investors in CLOs and 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 that are treated as equity- or cost-method investments for segment reporting. The $1.5 billion of corporate investments included $1.2 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 Year Ended December 31, 2015 Segment Adjustments Consolidated Management fees (1) $ 753,805 $ (558,497 ) $ 195,308 Incentive income (1) 263,806 (257,209 ) 6,597 Investment income (1) 48,253 3,705 51,958 Total expenses (2) (715,043 ) (225,865 ) (940,908 ) Interest expense, net (3) (35,032 ) (181,767 ) (216,799 ) Other income (expense), net (4) (3,927 ) 23,933 20,006 Other income (loss) of consolidated funds (5) — (631,575 ) (631,575 ) Income taxes — (17,549 ) (17,549 ) Net loss attributable to non-controlling interests in consolidated funds — 1,809,683 1,809,683 Net income attributable to non-controlling interests in consolidated subsidiaries — (205,372 ) (205,372 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 311,862 $ (240,513 ) $ 71,349 Corporate investments (6) $ 1,434,109 $ (1,220,121 ) $ 213,988 Total assets (7) $ 3,254,082 $ 48,508,649 $ 51,762,731 (1) The adjustment represents (a) the elimination of amounts attributable to the consolidated funds and (b) for management fees, the reclassification of $12,676 of net gains related to foreign-currency hedging activities to general and administrative expense. (2) The expense adjustment consists of (a) equity-based compensation expense of $16,475 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $165,904 , (c) expenses incurred by the Intermediate Holding Companies of $1,690 and (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $19,009 , (e) acquisition-related items of $5,251 , (f) adjustments of $23,552 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 $72 arising from EVUs that are classified as liability awards under GAAP but as equity awards for segment reporting, (g) $9,676 of net gains related to foreign-currency hedging activities, and (i) other expenses of $113 . (3) The interest expense adjustment represents the inclusion of interest expense attributable to third-party investors in CLOs, 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 (a) amounts received for contractually reimbursable costs of $23,552 that are classified as expenses for segment reporting and as other income under GAAP, and (b) the reclassification of $381 of net losses related to foreign-currency hedging activities to general and administrative expense. (5) The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to third-party investors in CLOs and 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 that are treated as equity- or cost-method investments for segment reporting. The $1.4 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 Year Ended December 31, 2014 Segment Adjustments Consolidated Management fees (1) $ 762,823 $ (570,768 ) $ 192,055 Incentive income (1) 491,402 (489,563 ) 1,839 Investment income (1) 117,662 (83,967 ) 33,695 Total expenses (2) (766,139 ) (181,338 ) (947,477 ) Interest expense, net (3) (30,190 ) (99,752 ) (129,942 ) Other income (expense), net (4) (2,431 ) 5,449 3,018 Other income of consolidated funds (5) — 3,040,900 3,040,900 Income taxes — (18,536 ) (18,536 ) Net income attributable to non-controlling interests in consolidated funds — (1,649,890 ) (1,649,890 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (399,379 ) (399,379 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 573,127 $ (446,844 ) $ 126,283 Corporate investments (6) $ 1,515,443 $ (1,327,480 ) $ 187,963 Total assets (7) $ 3,263,382 $ 50,057,334 $ 53,320,716 (1) The adjustment represents (a) the elimination of amounts attributable to the consolidated funds and (b) for management fees, the reclassification of $1,669 of net losses related to foreign-currency hedging activities to general and administrative expense. (2) The expense adjustment consists of (a) equity-based compensation expense of $21,657 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $161,055 , (c) expenses incurred by the Intermediate Holding Companies of $1,645 , (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 $10,677 , (e) acquisition-related items of $2,442 , (f) adjustments of $8,319 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 $33 arising from EVUs that are classified as liability awards under GAAP but as equity awards for segment reporting, (g) $3,204 of net gains related to foreign-currency hedging activities, and (i) other expenses of $68 . (3) The interest expense adjustment represents the inclusion of interest expense attributable to third-party investors in CLOs, 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 (a) amounts received for contractually reimbursable costs of $8,319 that are classified as expenses for segment reporting and as other income under GAAP, and (b) the reclassification of $2,870 of net gains related to foreign-currency hedging activities to general and administrative expense. (5) The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to third-party investors in CLOs and 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 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	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On February 7, 2017, the Company declared a distribution attributable to the fourth quarter of 2016 of $0.63 per Class A unit, bringing aggregate distributions relating to fiscal year 2016 to $2.41 . The distribution of $0.63 was paid on February 24, 2017 to Class A unitholders of record at the close of business on February 17, 2017.

QUARTERLY FINANCIAL DATA

QUARTERLY FINANCIAL DATA	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Data [Abstract]
QUARTERLY FINANCIAL DATA	QUARTERLY FINANCIAL DATA (UNAUDITED) Three Months Ended March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Revenues $ 254,490 $ 282,716 $ 290,230 $ 298,310 Expenses (185,184 ) (191,648 ) (202,339 ) (210,165 ) Other income (loss) 26,542 58,337 89,499 97,834 Income before income taxes $ 95,848 $ 149,405 $ 177,390 $ 185,979 Net income $ 83,168 $ 140,834 $ 168,823 $ 173,278 Net income attributable to Oaktree Capital Group, LLC $ 28,078 $ 49,047 $ 58,297 $ 59,283 Net income per unit (basic and diluted): Net income per Class A unit $ 0.45 $ 0.78 $ 0.93 $ 0.94 Distributions declared per Class A unit $ 0.47 $ 0.55 $ 0.58 $ 0.65 Three Months Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues $ 50,819 $ 51,487 $ 50,491 $ 49,108 Expenses (235,974 ) (245,929 ) (190,518 ) (268,487 ) Other income (loss) 1,476,049 (116,711 ) (1,624,651 ) (511,097 ) Income (loss) before income taxes $ 1,290,894 $ (311,153 ) $ (1,764,678 ) $ (730,476 ) Net income (loss) $ 1,283,019 $ (316,638 ) $ (1,766,571 ) $ (732,772 ) Net income attributable to Oaktree Capital Group, LLC $ 38,253 $ 19,814 $ 1,887 $ 11,395 Net income per unit (basic and diluted): Net income per Class A unit $ 0.85 $ 0.41 $ 0.04 $ 0.21 Distributions declared per Class A unit $ 0.56 $ 0.64 $ 0.50 $ 0.40

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in accordance with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the consolidated financial statements, as well as the reported amounts of income and expenses during the period then ended. Actual results could differ from these estimates.
Consolidation	Consolidation In February 2015, the Financial Accounting Standards Board (“FASB”) amended its consolidation guidance, which changed the way a reporting entity should evaluate limited partnerships and similar entities for consolidation, how a decision maker’s fees affect the consolidation analysis, and how interests held by related parties affect the consolidation analysis. The Company adopted this guidance as of January 1, 2016 under the modified retrospective approach, which did not require prior periods to be recast. In connection with the adoption, the Company reevaluated all of its investment vehicles and other legal entities for consolidation and, as of January 1, 2016, deconsolidated substantially all of its previously consolidated investment funds because those funds, which had previously been evaluated as voting interest entities, became variable interest entities (“VIEs”) under the new consolidation guidance. The Company is not the primary beneficiary of these VIEs because its fee arrangements are not deemed to be variable interests, and it does not hold any other interests in those funds that are considered to be more than insignificant. The adoption resulted in a reduction to total consolidated assets, liabilities, non-controlling redeemable interests in consolidated funds and unitholders' capital as of January 1, 2016 of $45.7 billion , $7.6 billion , $38.0 billion and $90.6 million , respectively. There was no impact on retained earnings or net income attributable to the Company. The Company consolidates entities in which it has a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. A limited partnership or similar entity is a VIE if the unaffiliated limited partners do not have substantive kick-out or participating rights. Most of the Oaktree funds are VIEs because they have not granted unaffiliated limited partners substantive kick-out or participating rights. The Company consolidates all VIEs in which it is the primary beneficiary. An entity is deemed 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 economic performance 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 guidance 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-based fees), would give it a controlling financial interest. A decision maker’s fee arrangement is not considered a variable interest if it is compensation for services provided, commensurate with the level of effort required to provide those services and part of a compensation arrangement that includes only terms, conditions or amounts that are customarily present in arrangements for similar services negotiated at arm’s length (“at-market”), and the decision maker does not hold any other variable interests that absorb more than an insignificant amount of the potential VIE’s expected residual returns. 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. Please see note 4 for more information regarding VIEs. For entities that are not VIEs, the Company evaluates those entities that it controls through a majority voting interest model. “Consolidated funds” refers to Oaktree-managed funds and CLOs that Oaktree is required to consolidate. When funds or CLOs are consolidated, the Company reflects the assets, liabilities, revenues, expenses and cash flows of the funds or CLOs on a gross basis, and the majority of the economic interests in those funds or CLOs, which are held by third-party investors, are reflected as non-controlling interests in consolidated funds or debt obligations of CLOs in the consolidated financial statements. All of the revenues earned by the Company as investment manager of the consolidated funds are eliminated in consolidation. However, because the eliminated amounts are earned from and funded by third-party investors, the consolidation of a fund does not impact net income or loss attributable to the Company. Certain entities in which the Company has the ability to exert significant influence, including unconsolidated Oaktree funds for which the Company acts as general partner, are accounted for under the equity method of accounting.
Non-controlling Redeemable Interests in Consolidated Funds and Non-controlling Interests in Consolidated Funds	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 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 respective CLO liquidates, is called or otherwise terminates.
Non-controlling Interests in Consolidated Subsidiaries	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”), 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 12 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 Intangibles	Goodwill and Intangibles 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 is tested for impairment annually in the fourth quarter of each fiscal year, or more frequently when events or circumstances indicate that impairment may have occurred. The Company’s identifiable intangible assets acquired in business combinations primarily relate to 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, other investments where the fair value is based on observable inputs, and upon adoption of the new CLO measurement guidance as of January 1, 2016, debt obligations of consolidated CLOs. • 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 and/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 of the respective 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. The Company adopted the new CLO measurement guidance on a modified retrospective approach as of January 1, 2016. Please see “—Recent Accounting Guidance” below for further details. Upon adoption, the Company elected the fair value option for the financial liabilities of the consolidated CLOs and determined that the fair value of the CLO assets was more observable than the fair value of the CLO liabilities. Accordingly, the fair value of the CLO liabilities was measured as the fair value of CLO assets less the sum of (a) the fair value of any beneficial interests held by the Company and (b) the carrying value of any beneficial interests that represent compensation for services. 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 consolidated statements of operations. The Company’s accounting for these investments is similar to its accounting for investments held by the consolidated funds at fair value and the valuation methods are consistent with those used to determine the fair value of the consolidated funds’ investments. The Company has elected the fair value option for the financial assets and financial liabilities of its consolidated CLOs. The assets and liabilities of CLOs are primarily reflected within the investments, at fair value and within the debt obligations of CLOs line items in the consolidated statements of financial condition. The Company’s accounting for CLO assets is similar to its accounting for its 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. CLO liabilities are measured based on the more observable fair value of CLO assets under the new CLO measurement guidance, as discussed under “—Fair Value of Financial Instruments” above. Realized gains or losses and changes in the fair value of CLO assets, respectively, are included in net realized gain on consolidated funds’ investments and net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the consolidated statements of operations. Interest income of CLOs is included in interest and dividend income, and interest expense and other expenses, respectively, are included in interest expense and consolidated fund expenses in the consolidated statements of operations. Changes in the fair value of a CLO’s financial liabilities in accordance with the CLO measurement guidance are included in net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the consolidated statements of operations. Please see notes 6 and 10 for more information.
Foreign Currency	Foreign Currency Investments denominated in non-U.S. currencies are recorded in the consolidated financial statements after translation into U.S. dollars utilizing rates of exchange on the last business day of the period. Interest and dividend income is recorded net of foreign withholding taxes and calculated using the exchange rate in effect when the income is recognized. The effect of changes in exchange rates on assets and liabilities, income, and realized gains or losses is included as part of net realized gain (loss) on consolidated funds’ investments and net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the consolidated statements of operations. Foreign Currency The assets and liabilities of Oaktree’s foreign subsidiaries with non-U.S. dollar functional currencies are translated at exchange rates prevailing at the end of each reporting period. The results of foreign operations are translated at the weighted average exchange rate for each reporting period. Translation adjustments are included in other comprehensive income (loss) within the consolidated statements of financial condition until realized. Gains and losses resulting from foreign-currency transactions are included in general and administrative expense.
Derivatives and Hedging	Derivatives and Hedging A derivative is a financial instrument whose value is derived from an underlying financial instrument or index, such as interest rates, equity securities, currencies, commodities or credit spreads. Derivatives include futures, forwards, swaps or option contracts, and other financial instruments with similar characteristics. Derivative contracts often involve future commitments to exchange interest payment streams or currencies based on a notional or contractual amount (e.g., interest-rate swaps or foreign-currency forwards). The Company enters into derivatives 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 result in the use of derivatives to economically hedge or reduce these exposures. To mitigate the risk associated with fluctuations in interest rates, the Company may enter into interest-rate swaps to manage all or a portion of the interest-rate risk associated with its variable-rate borrowings. The Company’s corporate investments in funds include investments denominated in currencies other than the U.S. dollar, which is the Company’s reporting currency and, consequently, are subject to fluctuations in foreign-currency exchange rates. The Company also receives management fees from certain funds and pays expenses in currencies other than the U.S. dollar. To reduce earnings and cash-flow volatility associated with changes in foreign-currency exchange rates caused by the remeasurement of the Company’s corporate investments, management fees and expenses denominated in non-functional currencies, the Company may enter into foreign-currency option and forward contracts. 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 ratings. Counterparty credit risk is evaluated in determining the fair value of derivatives. The Company recognizes all derivatives as assets or liabilities in its consolidated statements of financial condition at fair value. 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. While these derivatives are eligible to be offset in accordance with applicable accounting guidance, the Company has elected to present derivative assets and liabilities based on gross fair value in its consolidated statements of financial condition. When the Company enters into a derivative contract, the Company may elect to designate the derivative as a hedging instrument and apply hedge accounting as part of its overall risk management strategy. In other situations, when a derivative does not qualify for hedge accounting or when the derivative and the hedged item are both recorded in current-period earnings and thus deemed to be economic hedges, hedge accounting is not applied. Derivatives that are designated as hedging instruments are classified as either a hedge of (a) a recognized asset or liability (“fair-value hedge”), (b) a forecasted transaction or of the variability of cash flows to be received or paid related to a recognized asset or liability (“cash-flow hedge”), or (c) a net investment in a foreign operation. For a fair-value hedge, changes in the fair value of the derivative and, to the extent that it is highly effective, changes in the fair value of the hedged asset or liability attributable to the hedged risk are recorded in current-period earnings in the same caption in the consolidated statements of operations as the hedged item. Changes in the fair value of a derivative that is highly effective and is designated and qualifies as a cash-flow hedge, to the extent that the hedge is effective, are recorded in other comprehensive income (loss) until earnings are affected by the variability of cash flows of the hedged transaction. Any hedge ineffectiveness is recorded in current-period earnings. Changes in the fair value of derivatives designated as hedging instruments that are caused by factors other than changes in the risk being hedged are excluded from the assessment of hedge effectiveness and recognized in current-period earnings. For a derivative that is not designated as a hedging instrument (“freestanding derivative”), the Company records changes in fair value in current-period earnings. The Company formally documents at inception the hedge relationship, including identification of the hedging instrument and the hedged item, as well as the risk management objectives, the strategy for undertaking the hedge transaction, and the evaluation of effectiveness of its hedged transaction. On a quarterly basis, the Company formally assesses whether the derivative it designated in each hedging relationship has been and is expected to remain highly effective in offsetting changes in the estimated fair value or cash flow of the hedged items. If it is determined that a derivative is not highly effective at hedging the designated exposure, hedge accounting is discontinued and the balance remaining in other comprehensive income (loss) is released to earnings.
Cash and Cash-equivalents	Cash and Cash-equivalents Cash and cash-equivalents include demand deposit accounts, money market funds and short-term investments with maturities of three months or less at the date of acquisition. Cash and Cash-equivalents Cash and cash-equivalents held at the consolidated funds represent cash that, although not legally restricted, is not available to support the general liquidity needs of Oaktree as the use of such amounts is generally limited to the investment activities of the consolidated funds. Cash-equivalents, a Level I valuation, include highly liquid investments such as money market funds, whose carrying value approximates fair value due to its short-term nature.
Receivable for Investments Sold	Receivable for Investments Sold Receivables for investments sold by the consolidated funds are recorded at net realizable value. Changes in net realizable value are reflected within net change in unrealized appreciation (depreciation) on consolidated funds’ investments and realizations are reflected within net realized gain on consolidated funds’ investments in the consolidated statements of operations.
U.S. Treasury and Time Deposit Securities	U.S. Treasury and Time Deposit Securities Includes holdings of U.S. Treasury bills and time deposit securities with maturities greater than three months at the date of acquisition. These securities, classified as available-for-sale, are recorded at fair value with changes in fair value included in other comprehensive income (loss). Changes in fair value were not material for all years presented.
Corporate Investments	Corporate Investments Corporate investments consist of investments in funds and companies in which the Company does not have a controlling financial interest. Investments for which the Company is deemed to exert significant influence are accounted for under the equity method of accounting and reflect Oaktree’s ownership interest in each fund or company. In the case of investments for which the Company is not deemed to exert significant influence or control, the fair value option of accounting has been elected. Investment income represents the Company’s pro-rata share of income or loss from these funds or companies, or the change in fair value of the investment, as applicable. Oaktree’s general partnership interests are substantially illiquid. While investments in funds reflect each respective fund’s holdings at fair value, equity-method investments in DoubleLine Capital LP and its affiliates (collectively, “DoubleLine”) and other companies are not adjusted to reflect the fair value of the underlying company. The fair value of the underlying investments in Oaktree funds is based on the Company’s assessment, which takes into account expected cash flows, earnings multiples and/or comparisons to similar market transactions, among other factors. Valuation adjustments reflecting consideration of credit quality, concentration risk, sales restrictions and other liquidity factors are integral to valuing these instruments.
Management Fees	Management Fees Management fees are recognized over the period in which the investment advisory services are performed. The contractual terms of management fees generally vary by fund structure. For most closed-end funds, the management fee rate is applied against committed capital during the fund’s investment period and the lesser of total funded capital or cost basis of assets in the liquidation period. However, for certain closed-end funds, management fees during the investment period are calculated based on drawn capital or cost basis. Additionally, for those closed-end funds for which management fees are based on committed capital, the Company sometimes elects to delay the start of the fund’s investment period and thus its full management fees, in which case the Company earns management fees based on drawn capital, and in certain cases outstanding borrowings under a fund-level credit facility made in lieu of drawing capital, until the Company elects to start the fund’s investment period. The Company’s right to receive management fees typically ends after 10 or 11 years from either the initial closing date or the start of the investment period, even if assets remain in the fund. In the case of CLOs, a portion of the management fees earned by us is dependent on the sufficiency of the particular vehicle’s cash flow. For open-end and evergreen funds, the management fee is generally based on the NAV of the fund. In the case of certain open-end and evergreen fund accounts, the Company has the potential to earn performance-based fees, typically in reference to a relevant benchmark index or hurdle rate. The Company does not recognize incremental income for transaction, advisory, director and other ancillary fees received in connection with providing services to portfolio companies or potential investees of the funds; rather, any such fees are offset against management fees earned from the applicable fund. These fees are typically recognized as revenue in the period in which they are offset against the quarterly management fees that would otherwise be paid by the applicable fund, which is generally the quarter following the period in which the fees are received.
Incentive Income	Incentive Income Incentive income generally represents 20% of each closed-end fund’s profits, subject to the return of contributed capital and a preferred return of typically 8% per annum, and 10% to 20% of certain evergreen fund’s annual profits, subject to high-water marks or hurdle rates. The Company has elected to adopt “Method 1” for revenue recognition based on a formula. Under this method, incentive income is recognized when fixed or determinable, all related contingencies have been removed and collection is reasonably assured, which generally occurs in the quarter of, or the quarter immediately prior to, the distribution of the income by the fund to Oaktree. The Method 1 criteria for revenue recognition is typically met (a) for closed-end funds, only after all contributed capital and the preferred return on that capital have been distributed to the fund’s investors, and (b) for certain evergreen funds, at the conclusion of each annual measurement period. Incentives received by Oaktree before the above criteria have been met are deferred and recorded as a deferred incentive income liability within accounts payable, accrued expenses and other liabilities in the consolidated statements of financial condition. The Company may receive tax distributions related to taxable income allocated by funds, which are treated as an advance of incentive income and subject to the same recognition criteria. Tax distributions are contractually not subject to clawback.
Incentive Income Compensation	Incentive Income Compensation Incentive income compensation expense primarily reflects compensation directly related to incentive income, which generally consists of percentage interests (sometimes referred to as “points”) that the Company grants to its investment professionals associated with the particular fund that generated the incentive income, and secondarily, compensation directly related to investment income. The Company has an obligation to pay a fixed percentage of the incentive income earned from a particular fund, including income from consolidated funds that is eliminated in consolidation, to specified investment professionals responsible for the management of the fund. Amounts payable pursuant to these arrangements are recorded as compensation expense when they have become probable and reasonably estimable. The Company’s determination of the point at which it becomes probable and reasonably estimable that incentive income compensation expense should be recorded is based on its assessment of numerous factors, particularly those related to the profitability, realizations, distribution status, investment profile and commitments or contingencies of the individual funds that may give rise to incentive income. Incentive income compensation is expensed no later than the period in which the underlying income is recognized. Payment of incentive income compensation generally occurs in the same period the related income is received or in the next period. Participation in incentive income generated by the funds is subject to forfeiture upon departure and to vesting provisions (generally over a period of five years ), in each case, under certain circumstances set forth in the applicable governing documents. These provisions are generally only applicable to incentive income compensation that has not yet been recognized as an expense by the Company or paid to the participant.
Equity-based Compensation	Equity-based Compensation Equity-based compensation expense reflects the non-cash charge associated with grants of Class A units, OCGH units and OCGH equity value units (“EVUs”), and is calculated based on the grant-date fair value of the unit award, adjusted annually or more frequently, as necessary, for actual forfeitures to reflect expense only for those units that ultimately vest. A contemporaneous valuation report is utilized in determining fair value at the date of grant for OCGH unit awards. Each valuation report is based on the market price of Oaktree’s Class A units as well as other pertinent factors. A discount is then applied to the Class A unit market price to reflect the lack of marketability for equity-classified awards, if applicable. The determination of an appropriate discount for lack of marketability is based on a review of discounts on the sale of restricted shares of publicly-traded companies and multi-period put-based quantitative methods. Factors that influence the size of the discount for lack of marketability applicable to OCGH units include (a) the estimated time it would take for an OCGH unitholder to exchange units into Class A units, (b) the volatility of the Company’s business and (c) thin trading of the Class A units. Each of these factors is subject to significant judgment. Equity-based awards that do not require future service (i.e., awards vested at grant) are expensed immediately. Equity-based awards that require future service are expensed on a straight-line basis over the requisite service period. Cash-settled equity-based awards are classified as liabilities and are remeasured at the end of each reporting period.
Depreciation and Amortization	Depreciation and Amortization Depreciation and amortization expense includes costs associated with the purchase of furniture and equipment, capitalized software, leasehold improvements, company-owned aircraft and acquired intangibles. Furniture and equipment and capitalized software costs are depreciated using the straight-line method over the estimated useful life of the asset, generally three to five years beginning in the first full month after the asset is placed in service. Leasehold improvements are amortized using the straight-line method over the shorter of the respective estimated useful life or the lease term. Company-owned aircraft are depreciated using the straight-line method over their estimated useful life. Acquired intangibles primarily relate to contractual rights and are amortized over their estimated useful lives on a straight-line basis, which range from three to seven years.
Other Income (Expense), Net	Other Income (Expense), Net Other income (expense), net represents non-operating income or expense, including income related to amounts received for contractually reimbursable costs associated with the 2014 acquisition of the Highstar Capital team and certain Highstar entities (collectively “Highstar”).
Income Taxes	Income Taxes Oaktree is a publicly traded partnership. Because it satisfies the qualifying income test, it is not required to be treated as a corporation for U.S. federal and state income tax purposes; rather it is taxed as a partnership. Oaktree Holdings, Inc. and Oaktree AIF Holdings, Inc., two of the Company’s Intermediate Holding Companies and wholly-owned corporate subsidiaries, are subject to U.S. federal and state income taxes. The remainder of Oaktree’s income is generally not subject to U.S. corporate-level taxation. 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 non-U.S. income or loss before taxes is generally not significant in relation to total pre-tax income or loss and is generally more predictable because, unlike U.S. pre-tax income, it is not significantly impacted by unrealized gains or losses. Non-U.S. tax expense typically represents a disproportionately large percentage of total income tax expense because nearly all of the Company’s non-U.S. income or loss is subject to corporate-level income tax, whereas a substantial portion of the Company’s U.S.-based income or loss is not subject to corporate-level taxes. In addition, changes in the proportion of non-U.S. pre-tax income to total pre-tax income impact the Company’s effective tax rate to the extent non-U.S. rates differ from the combined U.S. federal and state tax rate. Income taxes are accounted for using the liability method of accounting. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amount of assets and liabilities and their respective tax bases, using currently enacted tax rates. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period when the change is enacted. Deferred tax assets would be reduced by a valuation allowance if it becomes more likely than not that some portion or all of the deferred tax assets will not be realized. Oaktree analyzes its tax filing positions for all open tax years in all of the U.S. federal, state, local and foreign tax jurisdictions where it is required to file income tax returns. If the Company determines that uncertainties in tax positions exist, a reserve is established. Oaktree recognizes accrued interest and penalties related to uncertain tax positions within income tax expense in the consolidated statements of operations. Tax laws are complex and subject to different interpretations by the taxpayer and respective governmental taxing authorities. Significant judgment is required in determining tax expense and in evaluating tax positions, including evaluating uncertainties under GAAP. Oaktree reviews its tax positions quarterly and adjusts its tax balances as new information becomes available. The Oaktree funds are generally not subject to U.S. federal and state income taxes and, consequently, no income tax provision has been made in the accompanying consolidated financial statements because individual partners are responsible for their proportionate share of the taxable income. Income Taxes The consolidated funds may invest in operating entities that are treated as partnerships for U.S. federal income tax purposes which may give rise to unrelated business taxable income or income effectively connected with a U.S. trade or business. In such situations, the consolidated funds permit certain investors to elect to participate in these investments through a “blocker structure” using entities that are treated as corporations for U.S. federal income tax purposes and are generally subject to U.S. federal, state and local taxes. The consolidated funds withhold blocker expenses and tax payments from electing limited partners, which are treated as deemed distributions to such limited partners pursuant to the terms of the respective limited partnership agreement.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) consists of net income (loss) and other gains and losses affecting unitholders’ capital that, under GAAP, are excluded from net income (loss). Other gains and losses result from unrealized gains and losses on cash-flow hedges and foreign-currency translation adjustments, net of tax.
Accounting Policies of Consolidated Funds	Accounting Policies of Consolidated Funds The Company deconsolidated substantially all of its investment funds upon adoption of the new consolidation guidance as of January 1, 2016. Investment vehicles in which we have a significant investment, such as CLOs and certain Oaktree funds, remain consolidated under GAAP. The Company records the economic interests in those consolidated funds, which are held by third-party investors, as debt obligations of CLOs or non-controlling interests in consolidated funds in the consolidated financial statements.
Investment Transactions and Income Recognition	Investment Transactions and Income Recognition The consolidated funds record investment transactions at cost on trade date for publicly-traded securities or when they have an enforceable right to acquire the security, which is generally on the closing date if not publicly traded. Realized gains and losses on investments are recorded on a specific-identification basis. The consolidated funds record dividend income on the ex-dividend date and interest income on an accrual basis, unless the related investment is in default or if collection of the income is otherwise considered doubtful. The consolidated funds may hold investments that provide for interest payable in-kind rather than in cash, in which case the related income is recorded at its estimated net realizable amount.
Investments, at fair value	Investments, at Fair Value The consolidated funds include investment limited partnerships and CLOs 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 investment limited partnerships with respect to consolidated investments and has elected the fair value option for the financial assets of CLOs. Thus, the consolidated investments are reflected in the 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 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 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 consolidated financial statements.
Securities Sold Short	Securities Sold Short Securities sold short represent obligations of the consolidated funds to make a future delivery of a specific security and, correspondingly, create an obligation to purchase the security at prevailing market prices (or deliver the security, if owned by the consolidated funds) as of the delivery date. As a result, these short sales create the risk that the funds’ obligations to satisfy the delivery requirement may exceed the amount recorded in the accompanying consolidated statements of financial condition. Securities sold short are recorded at fair value, with the resulting change in value reflected as a component of net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the consolidated statements of operations. When the securities are delivered, any gain or loss is included in net realized gain on consolidated funds’ investments. The funds maintain cash deposits with prime brokers in order to cover their obligations on short sales. These amounts are included in due from brokers in the consolidated statements of financial condition.
Options	Options The purchase price of a call option or a put option is recorded as an investment, which is carried at fair value. If a purchased option expires, a loss in the amount of the cost of the option is realized. When there is a closing sale transaction, a gain or loss is realized if the proceeds are greater or less than, respectively, the cost of the option. When a call option is exercised, the cost of the security purchased upon exercise is increased by the premium originally paid. When a consolidated fund writes an option, the premium received is recorded as a liability and is subsequently adjusted to the current fair value of the option written. If a written option expires, a gain is realized in the amount of the premium received. The difference between the premium and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also treated as a realized gain or loss. The writer of an option bears the market risk of an unfavorable change in the price of the security underlying the written option. Options written are included in accounts payable, accrued expenses and other liabilities in the consolidated statements of financial condition.
Total-return Swaps	Total-return Swaps A total-return swap is an agreement to exchange cash flows based on an underlying asset. Pursuant to these agreements, a fund may deposit collateral with the counterparty and may pay a swap fee equal to a fixed percentage of the value of the underlying security (notional amount). A fund earns interest on cash collateral held on account with the counterparty and may be required to deposit additional collateral equal to the unrealized appreciation or depreciation on the underlying asset. Changes in the value of the swaps, which are recorded as unrealized gains or losses, are based on changes in the underlying value of the security. All amounts exchanged with the swap counterparty representing capital appreciation or depreciation, dividend income and expense, items of interest income on short proceeds, borrowing costs on short sales, and commissions are recorded as realized gains or losses. Dividend income and expense on the underlying assets are accrued as unrealized gains or losses on the ex-date.
Due From Brokers	Due From Brokers Due from brokers represents cash owned by the consolidated funds and cash collateral on deposit with brokers and counterparties that are used as collateral for the consolidated funds’ securities and swaps.
Risks and Uncertainties	Risks and Uncertainties Certain consolidated funds invest primarily in the securities of entities that are undergoing, or are considered likely to undergo, reorganization, debt restructuring, liquidation or other extraordinary transactions. Investments in such entities are considered speculative and involve substantial risk of principal loss. Certain of the consolidated funds’ investments may also consist of securities that are thinly traded, securities and other assets for which no market exists, and securities which are restricted as to their transferability. Additionally, investments are subject to concentration and industry risks, reflecting numerous factors, including political, regulatory or economic issues that could cause the investments and their markets to be relatively illiquid and their prices relatively volatile. Investments denominated in non-U.S. currencies or involving non-U.S. domiciled entities are subject to risks and special considerations not typically associated with U.S. investments. Such risks may include, but are not limited to, investment and repatriation restrictions; currency exchange-rate fluctuations; adverse political, social and economic developments; less liquidity; smaller capital markets; and certain local tax law considerations. Credit risk is the potential loss that may be incurred from the failure of a counterparty or an issuer to make payments according to the terms of a contract. Some consolidated funds are subject to additional credit risk due to strategies of investing in debt of financially distressed issuers or derivatives, as well as involvement in privately-negotiated structured notes and structured-credit transactions. Counterparties include custodian banks, major brokerage houses and their affiliates. The Company monitors the creditworthiness of the financial institutions with which it conducts business. Bank debt has exposure to certain types of risk, including interest rate, market, and the potential non-payment of principal and interest as a result of default or bankruptcy of the issuer. Loans are generally subject to prepayment risk, which will affect the maturity of such loans. The consolidated funds may enter into bank debt participation agreements through contractual relationships with a third-party intermediary, causing the consolidated funds to assume the credit risk of both the borrower and the intermediary. Certain consolidated funds may invest in real property and real estate-related investments, including commercial mortgage-backed securities (“CMBS”) and real estate loans, that entail substantial inherent risks. There can be no assurance that such investments will increase in value or that significant losses will not be incurred. CMBS are subject to a number of risks, including credit, interest rate, prepayment and market. These risks can be affected by a number of factors, including general economic conditions, particularly those in the area where the related mortgaged properties are located, the level of the borrowers’ equity in the mortgaged properties, and the relative timing and rate of delinquencies and prepayments of mortgage loans bearing a higher rate of interest. Real estate loans include residential or commercial loans that are non-performing at the time of their acquisition or that become non-performing following their acquisition. Non-performing real estate loans may require a substantial amount of workout negotiations or restructuring, which may entail, among other things, a substantial reduction in the interest rate and/or write-down of the principal balance. Moreover, foreclosure on collateral securing one or more real estate loans held by the consolidated funds may be necessary, which may be lengthy and expensive. Residential loans are typically subject to risks associated with the value of the underlying properties, which may be affected by a number of factors including general economic conditions, mortgage qualification standards, local market conditions such as employment levels, the supply of homes, and the safety, convenience and attractiveness of the properties and neighborhoods. Commercial loans are typically subject to risks associated with the ability of the borrower to repay, which may be impacted by general economic conditions, as well as borrower-specific factors including the quality of management, the ability to generate sufficient income to make scheduled principal and interest payments, or the ability to obtain alternative financing to repay the loan. Certain consolidated funds hold over-the-counter derivatives that may allow counterparties to terminate derivative contracts prior to maturity under certain circumstances, thereby resulting in an accelerated payment of any net liability owed to the counterparty.
Recent Accounting Developments	Recent Accounting Developments In January 2017, the FASB issued guidance to simplify the accounting for goodwill impairments by eliminating step 2 of the goodwill impairment test. This step requires an entity to perform a hypothetical purchase price allocation to derive the implied fair value of goodwill. Under the new guidance, an impairment loss is recognized if the carrying value of a reporting unit exceeds its fair value. The impairment loss would equal the amount of that excess, limited to the total amount of goodwill. All other goodwill impairment guidance remains largely unchanged. Entities will continue to have the option to perform a qualitative assessment to determine if a quantitative impairment test is necessary. The guidance is effective for the Company in the first quarter of 2020 on a prospective basis, with early adoption permitted. The Company expects that adoption of this guidance will not have a material impact on its consolidated financial statements. In January 2017, the FASB issued guidance that amends the definition of a business. The guidance provides a framework to help determine whether a transaction involves an asset or a business. In general, if substantially all of the gross assets acquired or disposed of are concentrated in a single identifiable asset or group of similar identifiable assets, the transaction is deemed to not involve a business. This framework is expected to reduce the number of transactions that an entity must further evaluate to determine whether they are business combinations or asset acquisitions. The definition of a business may also affect other aspects of accounting, such as goodwill impairment or consolidation. The guidance is effective for the Company in the first quarter of 2018, on a prospective basis. Early adoption is permitted. The Company expects that adoption of this guidance will not have a material impact on its consolidated financial statements. In October 2016, the FASB amended the consolidation guidance with respect to a single decision maker’s evaluation of interests held through related parties that are under common control when it is determining whether it is the primary beneficiary of a VIE. Under the guidance, a reporting entity considers its indirect economic interests in a VIE held through related parties that are under common control on a proportionate basis, consistent with the way it would evaluate its indirect economic interests held through related parties that are not under common control. Previously, a reporting entity’s indirect economic interests in a VIE held through related parties that are under common control were considered to be the equivalent of direct interests in their entirety. The guidance is effective for the Company in the first quarter of 2017, with early adoption permitted. The Company expects that adoption of this guidance will not have a material impact on its consolidated financial statements. In August 2016, the FASB issued guidance on the classification of certain cash receipts and payments in the statement of cash flows. The amendments add to or clarify guidance on a number of cash flow issues, including debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination, distributions received from equity-method investees and beneficial interests in securitization transactions. The guidance is effective for the Company in the first quarter of 2018, generally on a retrospective basis, with early adoption permitted. The Company expects that adoption of this guidance will not have a material impact on its consolidated financial statements. In March 2016, the FASB issued guidance that affects several aspects of accounting for employee share-based payment awards. The amendments would impact the accounting for income taxes, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. The Company will adopt the guidance in the first quarter of 2017. The Company expects that adoption of this guidance will not have a material impact on its consolidated financial statements. In March 2016, the FASB issued guidance eliminating the requirement to retroactively apply the equity method of accounting when a reporting entity obtains significant influence over an investment (e.g., due to an increase in ownership) that previously had been accounted for under the cost basis or at fair value. Instead, the reporting entity would be required to apply the equity method of accounting prospectively from the date significant influence was obtained. The cost of the additional interest in the investee, if any, should be added to the current basis of the investment. The amendment also provides guidance for available-for-sale investments that become eligible for the equity method of accounting. In those cases, any unrealized gain or loss recorded within accumulated other comprehensive income should be recognized in earnings as of the date the investment initially qualifies for the use of the equity method. The Company will adopt the guidance in the first quarter of 2017 on a prospective basis. The Company expects that adoption of this guidance will not have a material impact on its consolidated financial statements. In February 2016, the FASB issued guidance that will require a lessee to recognize a lease asset and a lease liability for most of its operating leases. Under current GAAP, operating leases are not recognized by a lessee in its statements of financial position. In general, the new asset and liability will each equal the present value of lease payments. The guidance does not significantly change the recognition, measurement and presentation of expenses and cash flows arising from a lease by a lessee. The Company expects to adopt the guidance in the first quarter of 2019, under the modified retrospective transition approach, which requires application of the new guidance at the beginning of the earliest comparative period presented. The Company does not expect that adoption will have a material impact on its consolidated statements of operations because all of its leases are currently classified as operating leases, which under the guidance will continue to be recognized as expense on a straight-line basis. The adoption, however, will result in a significant gross up in total assets and total liabilities on the Company’s consolidated statements of financial position. Please see note 16 for more information on the Company’s minimum lease payments as of December 31, 2016. In January 2016, the FASB issued guidance that changes the classification and measurement of financial instruments and amends certain disclosure requirements associated with the fair value of financial instruments. The amendments revise the accounting related to (a) the classification and measurement of investments in equity investments and (b) the presentation of certain fair value changes for financial liabilities measured at fair value. Specifically, the guidance generally requires equity investments to be carried at fair value with changes flowing through net income. This requirement does not apply to equity-method investments. For financial liabilities measured at fair value, the guidance requires fair value changes attributable to instrument-specific credit risk to be presented separately in other comprehensive income, as opposed to reflecting the entire fair-value change in net income. The guidance is effective for the Company in the first quarter of 2019, with early adoption permitted. The Company is currently evaluating the effect that adoption will have on its consolidated financial statements. In April 2015, the FASB issued guidance that changes the presentation of debt issuance costs in the statements of financial position. Previously, such costs were reflected in the statements of financial position as a deferred asset. The new guidance requires 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 Company adopted the guidance in the first quarter of 2016 on a retrospective basis. The adoption resulted in the reclassification of deferred debt issuance costs related to the Company and the consolidated funds, respectively, of $3.6 million and $44.7 million as of December 31, 2015, from other assets to debt obligations in the consolidated statements of financial condition. In February 2015, the FASB amended its consolidation guidance to end the deferral granted to investment companies with respect to applying 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 Company adopted the guidance in the first quarter of 2016 on a modified retrospective basis as of January 1, 2016. As a result, prior periods were not recast; instead, a cumulative-effect adjustment to equity as of January 1, 2016 was recorded. The adoption resulted in a reduction to total consolidated assets, liabilities, non-controlling redeemable interests in consolidated funds and unitholders' capital as of January 1, 2016 of $45.7 billion , $7.6 billion , $38.0 billion and $90.6 million , respectively. There was no impact on retained earnings or 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 Company adopted the guidance in the fourth quarter of 2016, with no impact on its consolidated financial statements. In August 2014, the FASB issued guidance on measuring the financial assets and financial liabilities of a consolidated collateralized financing entity, such as a CLO. 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. In the first quarter of 2016, the Company adopted the guidance on a modified retrospective basis, as of January 1, 2016. As a result, prior periods were not recast and a cumulative-effect reduction of unitholders’ capital in the amount of $32.1 million was recorded as of January 1, 2016. In May 2014, the FASB issued guidance on revenue recognition that superseded most existing revenue recognition guidance, including industry-specific. The new guidance outlined a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers, and provides a largely principles-based framework for addressing revenue recognition issues on a comprehensive basis. Under the new guidance, revenue would be recognized when an entity satisfies a performance obligation by transferring control of a promised good or service to a customer in an amount that reflects the consideration for which the entity expects to be entitled for that good or service. Additionally, enhanced disclosures would be required regarding both revenue that has been recognized and revenue that is expected to be recognized in the future from existing contracts, including quantitative and qualitative information about significant judgments and changes in those judgments made by management in recognizing revenue. The Company expects to adopt the guidance in the first quarter of 2018 on a modified retrospective basis. The Company currently anticipates that the most significant effect of the new guidance relates to the recognition of incentive income. The new guidance would require the Company to recognize incentive income when it concludes that it is probable that significant reversals of revenue will not occur in subsequent periods. Under current GAAP, the amount of incentive income recognized by the Company is generally limited to the amount that is not contingent on a future event. The Company is in the process of evaluating the effects, if any, of adopting the new standard on its consolidated financial statements.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	Carrying Value as of December 31, 2016 Assets of VIEs $ 52,098,059 Liabilities of VIEs $ 9,088,173 Corporate investments $ 1,055,227 Due from affiliates 159,714 Maximum exposure to loss $ 1,214,941

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
Investments [Abstract]
Equity Method Investments	Corporate investments consisted of the following: As of December 31, Corporate Investments: 2016 2015 Equity-method investments: Funds $ 981,209 $ 117,800 Companies 34,932 28,562 Other investments, at fair value 107,591 67,626 Total corporate investments $ 1,123,732 $ 213,988 Summarized financial information of the Company’s equity-method investments is set forth below. Equity-method investments were not material for periods prior to adoption of the deconsolidation guidance in the first quarter of 2016, pursuant to the consolidation rules then in effect. Statement of Financial Condition : As of December 31, 2016 Assets: Cash and cash-equivalents $ 3,713,045 Investments, at fair value 43,084,842 Other assets 1,994,304 Total assets $ 48,792,191 Liabilities and Capital: Debt obligations $ 7,372,063 Other liabilities 2,028,065 Total liabilities 9,400,128 Total capital 39,392,063 Total liabilities and capital $ 48,792,191 Statements of Operations : Year Ended December 31, 2016 Revenues / investment income $ 2,188,044 Interest expense (176,009 ) Other expenses (899,288 ) Net realized and unrealized gain on investments 4,065,939 Net income $ 5,178,686
Investment	The following table summarizes net gains (losses) attributable to the Company’s other investments: Year Ended December 31, 2016 2015 2014 Realized gain (loss) $ 1,808 $ 1,372 $ 2,838 Net change in unrealized gain (loss) 7,380 (1,160 ) (15,911 ) Total $ 9,188 $ 212 $ (13,073 ) The components of investment income (loss) are set forth below: Year Ended December 31, Investment Income (Loss): 2016 2015 2014 Equity-method investments: Funds $ 123,511 $ 1,813 $ 556 Companies 66,427 49,933 46,212 Other investments, at fair value 9,188 212 (13,073 ) Total investment income $ 199,126 $ 51,958 $ 33,695
Investments, at Fair Value	Investments held and securities sold short by the consolidated funds are summarized below: Fair Value as of December 31, Fair Value as a Percentage of Investments of Consolidated Funds as of December 31, Investments: 2016 2015 2016 2015 United States: Debt securities: Consumer discretionary $ 628,621 $ 3,387,072 16.5 % 7.5 % Consumer staples 123,395 686,071 3.2 1.5 Energy 55,655 854,220 1.5 1.9 Financials 182,685 1,293,508 4.8 2.9 Government 5,234 95,508 0.1 0.2 Health care 337,138 1,135,799 8.9 2.5 Industrials 379,122 1,710,706 10.0 3.8 Information technology 272,637 1,293,815 7.2 2.9 Materials 237,417 1,393,521 6.2 3.1 Telecommunication services 93,893 471,711 2.5 1.0 Utilities 76,920 686,126 2.0 1.5 Total debt securities (cost: $2,378,759 and $15,304,870 as of December 31, 2016 and 2015, respectively) 2,392,717 13,008,057 62.9 28.8 Equity securities: Consumer discretionary 711 1,813,832 0.0 4.0 Consumer staples — 872,472 — 1.9 Energy 2,002 1,810,290 0.1 4.0 Financials 3,977 7,639,790 0.1 16.9 Health care 343 92,866 0.0 0.2 Industrials 1 1,728,086 0.0 3.8 Information technology — 67,253 — 0.2 Materials 691 882,366 0.0 2.0 Telecommunication services — 16,471 — 0.0 Utilities — 156,865 — 0.3 Total equity securities (cost: $5,462 and $13,290,699 as of December 31, 2016 and 2015, respectively) 7,725 15,080,291 0.2 33.3 Fair Value as of December 31, Fair Value as a Percentage of Investments of Consolidated Funds as of December 31, Investments: 2016 2015 2016 2015 Europe: Debt securities: Consumer discretionary $ 374,627 $ 1,329,387 9.8 % 2.9 % Consumer staples 92,750 222,789 2.4 0.5 Energy 13,274 144,742 0.3 0.3 Financials 13,822 808,568 0.4 1.8 Government 1,996 46,946 0.1 0.1 Health care 210,078 197,569 5.5 0.5 Industrials 54,578 291,950 1.4 0.7 Information technology 23,832 71,168 0.6 0.2 Materials 226,961 377,460 6.0 0.8 Telecommunication services 214,182 200,610 5.6 0.4 Utilities — 18,028 — 0.0 Total debt securities (cost: $1,214,068 and $4,207,531 as of December 31, 2016 and 2015, respectively) 1,226,100 3,709,217 32.1 8.2 Equity securities: Consumer discretionary — 270,370 — 0.6 Consumer staples — 145,108 — 0.3 Energy — 21,791 — 0.0 Financials 1,605 6,239,424 0.0 13.8 Government — 40,290 — 0.1 Health care — 79,582 — 0.2 Industrials — 1,499,142 — 3.3 Information technology — 1,646 — 0.0 Materials — 475,306 — 1.1 Telecommunication services — 4,834 — 0.0 Utilities — 344,736 — 0.8 Total equity securities (cost: $1,494 and $7,627,245 as of December 31, 2016 and 2015, respectively) 1,605 9,122,229 0.0 20.2 Asia and other: Debt securities: Consumer discretionary 3,145 102,531 0.1 0.2 Consumer staples 5,994 33,061 0.2 0.1 Energy 9,570 193,645 0.3 0.4 Financials — 27,413 — 0.1 Government 1,506 6,974 0.0 0.0 Health care 1,245 47,010 0.0 0.1 Industrials 15,450 268,710 0.4 0.6 Information technology 409 31,983 0.0 0.1 Materials 10,245 248,830 0.3 0.6 Telecommunication services 4,809 — 0.1 — Utilities 928 2,713 0.0 0.0 Total debt securities (cost: $57,400 and $1,090,867 as of December 31, 2016 and 2015, respectively) 53,301 962,870 1.4 2.2 Fair Value as of December 31, Fair Value as a Percentage of Investments of Consolidated Funds as of December 31, Investments: 2016 2015 2016 2015 Asia and other: Equity securities: Consumer discretionary $ 7,639 $ 506,761 0.2 % 1.1 % Consumer staples 3,786 29,863 0.1 0.1 Energy 6,978 192,844 0.2 0.4 Financials 44,328 986,753 1.2 2.2 Health care — 18,535 — 0.1 Industrials 21,564 1,032,225 0.6 2.3 Information technology 16,642 244,433 0.4 0.5 Materials 19,697 96,326 0.5 0.2 Telecommunication services 4,296 34,678 0.1 0.1 Utilities 1,856 154,824 0.1 0.3 Total equity securities (cost: $118,292 and $3,370,406 as of December 31, 2016 and 2015, respectively) 126,786 3,297,242 3.4 7.3 Total debt securities 3,672,118 17,680,144 96.4 39.2 Total equity securities 136,116 27,499,762 3.6 60.8 Total investments, at fair value $ 3,808,234 $ 45,179,906 100.0 % 100.0 % Securities Sold Short: Equity securities (proceeds: $41,541 and $102,236 as of December 31, 2016 and 2015, respectively) $ (41,016 ) $ (91,246 )
Net Gains (Losses) from Investment Activities of Consolidated Funds	The following table summarizes net gains (losses) from investment activities: Year Ended December 31, 2016 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 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Investments and other financial instruments $ 30,718 $ 109,398 $ 895,271 $ (3,602,437 ) $ 1,937,061 $ (1,080,571 ) CLO liabilities (1) — (120,702 ) — — — — Foreign-currency forward contracts (2) 521 264 457,594 (98,420 ) 179,675 278,647 Total-return and interest-rate swaps (2) (2,353 ) (1,416 ) (215,837 ) (38,658 ) 54,437 (193,079 ) Options and futures (2) (1,293 ) 3 43,055 (30,198 ) (38,431 ) 6,513 Swaptions (2)(3) — — (2,933 ) 2,186 (1,158 ) (4,770 ) Total $ 27,593 $ (12,453 ) $ 1,177,150 $ (3,767,527 ) $ 2,131,584 $ (993,260 ) (1) Represents the net change in the fair value of CLO liabilities based on the more observable fair value of CLO assets, as measured under the CLO measurement guidance. Please see note 2 for more information. (2) Please see note 7 for additional information. (3) 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)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The Company’s other financial assets and financial liabilities by fair-value hierarchy level are set forth below. Please see notes 10 and 18 for the fair value of the Company’s outstanding debt obligations and amounts due from/to affiliates, respectively. As of December 31, 2016 As of December 31, 2015 Level I Level II Level III Total Level I Level II Level III Total Assets U.S. Treasury and time deposit securities (1) $ 757,578 $ — $ — $ 757,578 $ 661,116 $ — $ — $ 661,116 Corporate investments — 27,551 74,663 102,214 — 41,876 25,750 67,626 Foreign-currency forward contracts (2) — 16,142 — 16,142 — 5,875 — 5,875 Total assets $ 757,578 $ 43,693 $ 74,663 $ 875,934 $ 661,116 $ 47,751 $ 25,750 $ 734,617 Liabilities Contingent consideration (3) $ — $ — $ (23,567 ) $ (23,567 ) $ — $ — $ (28,494 ) $ (28,494 ) Foreign-currency forward contracts (3) — (7,805 ) — (7,805 ) — (3,286 ) — (3,286 ) Interest-rate swaps (3) — (60 ) — (60 ) — (943 ) — (943 ) Total liabilities $ — $ (7,865 ) $ (23,567 ) $ (31,432 ) $ — $ (4,229 ) $ (28,494 ) $ (32,723 ) (1) Carrying value approximates fair value due to the short-term nature. (2) Amounts are included in other assets in the consolidated statements of financial condition, except for $5,377 of the December 31, 2016 amount, which is included within corporate investments in the consolidated statements of financial condition. (3) Amounts are included in accounts payable, accrued expenses and other liabilities in the consolidated statements of financial condition.
Summary of Changes in Fair Value of Level III Investments	The table below sets forth a summary of changes in the fair value of Level III financial instruments: Year Ended December 31, 2016 2015 2014 Corporate Investments Contingent Consideration Liability Corporate Investments Contingent Consideration Liability Corporate Investments Contingent Consideration Liability Beginning balance $ 25,750 $ (28,494 ) $ — $ (27,245 ) $ — $ — Contributions or additions 43,521 — 25,750 — — (25,559 ) Distributions (1,470 ) — — — — — Net gain (loss) included in earnings 6,862 4,927 — (1,249 ) — (1,686 ) Ending balance $ 74,663 $ (23,567 ) $ 25,750 $ (28,494 ) $ — $ (27,245 ) Net change in unrealized gains (losses) attributable to financial instruments still held at end of period $ 5,913 $ 4,927 $ — $ (1,249 ) $ — $ (1,686 ) The table below sets forth a summary of the valuation techniques and quantitative information utilized in determining the fair value of the Company’s Level III financial instruments: Fair Value as of December 31, Significant Unobservable Input Weighted Average Financial Instrument 2016 2015 Valuation Technique Range Corporate investment – Limited partnership interests $ 74,663 $ 25,750 Market approach Not applicable Not applicable Not applicable Contingent consideration liability 23,567 28,494 Discounted cash flow Assumed % of total potential contingent payments 0% – 100% 45%
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 Portfolio Swaps Other Total 2016: Beginning balance $ 1,871,375 $ 3,009,164 $ 8,729,202 $ 1,363,542 $ 9,655,270 $ 2,597,405 $ (8,251 ) $ — $ 27,217,707 Cumulative-effect adjustment from adoption of accounting guidance (1,672,305 ) (3,007,287 ) (8,725,026 ) (1,363,542 ) (9,655,270 ) (2,597,405 ) 8,251 — (27,012,584 ) Transfers into Level III 83,218 657 3,089 — — — — — 86,964 Transfers out of Level III (43,728 ) — — — — — — — (43,728 ) Purchases 21,259 26,662 1,301 — — — — — 49,222 Sales (57,659 ) (219 ) (2,651 ) — — — — — (60,529 ) Realized gains (losses), net 389 2 — — — — — — 391 Unrealized appreciation (depreciation), net 6,319 (186 ) 778 — — — — — 6,911 Ending balance $ 208,868 $ 28,793 $ 6,693 $ — $ — $ — $ — $ — $ 244,354 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ 6,196 $ (186 ) $ 778 $ — $ — $ — $ — $ — $ 6,788 2015: Beginning balance $ 1,555,656 $ 2,750,661 $ 9,044,579 $ 1,320,752 $ 9,216,056 $ 2,399,105 $ (10,687 ) $ 15,576 $ 26,291,698 Transfers into Level III 364,501 248,824 570,137 15,835 142,165 — — — 1,341,462 Transfers out of Level III (199,119 ) (246,615 ) (1,427,473 ) (32,692 ) (61,317 ) — — (12,000 ) (1,979,216 ) Purchases 684,359 1,267,168 1,706,683 203,077 1,973,704 1,207,691 — — 7,042,682 Sales (493,438 ) (584,756 ) (1,315,766 ) (305,917 ) (2,242,760 ) (1,100,273 ) — (5,513 ) (6,048,423 ) Realized gains (losses), net 16,245 (4,670 ) 125,637 81,037 766,400 283,074 — 3,147 1,270,870 Unrealized appreciation (depreciation), net (56,829 ) (421,448 ) 25,405 81,450 (138,978 ) (192,192 ) 2,436 (1,210 ) (701,366 ) Ending balance $ 1,871,375 $ 3,009,164 $ 8,729,202 $ 1,363,542 $ 9,655,270 $ 2,597,405 $ (8,251 ) $ — $ 27,217,707 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (43,305 ) $ (340,883 ) $ (33,299 ) $ 169,799 $ 342,560 $ (192,192 ) $ 2,436 $ — $ (94,884 ) The table below sets forth a summary of changes in the fair value of Level III financial instruments: Year Ended December 31, 2016 2015 2014 Corporate Investments Contingent Consideration Liability Corporate Investments Contingent Consideration Liability Corporate Investments Contingent Consideration Liability Beginning balance $ 25,750 $ (28,494 ) $ — $ (27,245 ) $ — $ — Contributions or additions 43,521 — 25,750 — — (25,559 ) Distributions (1,470 ) — — — — — Net gain (loss) included in earnings 6,862 4,927 — (1,249 ) — (1,686 ) Ending balance $ 74,663 $ (23,567 ) $ 25,750 $ (28,494 ) $ — $ (27,245 ) Net change in unrealized gains (losses) attributable to financial instruments still held at end of period $ 5,913 $ 4,927 $ — $ (1,249 ) $ — $ (1,686 ) The table below sets forth a summary of the valuation techniques and quantitative information utilized in determining the fair value of the Company’s Level III financial instruments: Fair Value as of December 31, Significant Unobservable Input Weighted Average Financial Instrument 2016 2015 Valuation Technique Range Corporate investment – Limited partnership interests $ 74,663 $ 25,750 Market approach Not applicable Not applicable Not applicable Contingent consideration liability 23,567 28,494 Discounted cash flow Assumed % of total potential contingent payments 0% – 100% 45%
Valuation of Investments and Other Financial Instruments	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 December 31, 2016 As of December 31, 2015 Level I Level II Level III Total Level I Level II Level III Total Assets Investments: Corporate debt – bank debt $ — $ 2,973,482 $ 208,868 $ 3,182,350 $ — $ 7,891,929 $ 1,871,375 $ 9,763,304 Corporate debt – all other — 460,975 28,793 489,768 5,450 4,902,226 3,009,164 7,916,840 Equities – common stock 129,362 61 6,693 136,116 4,836,422 256,604 8,729,202 13,822,228 Equities – preferred stock — — — — — — 1,363,542 1,363,542 Real estate — — — — 61,317 — 9,655,270 9,716,587 Real estate loan portfolios — — — — — — 2,597,405 2,597,405 Total investments 129,362 3,434,518 244,354 3,808,234 4,903,189 13,050,759 27,225,958 45,179,906 Derivatives: Foreign-currency forward contracts — 216 — 216 — 156,234 — 156,234 Swaps — 141 — 141 — 16,544 — 16,544 Options and futures — — — — — 25,559 — 25,559 Swaptions — — — — — 14 — 14 Total derivatives — 357 — 357 — 198,351 — 198,351 Total assets $ 129,362 $ 3,434,875 $ 244,354 $ 3,808,591 $ 4,903,189 $ 13,249,110 $ 27,225,958 $ 45,378,257 Liabilities CLO debt obligations: Senior secured notes (1) $ — $ (2,953,880 ) $ — $ (2,953,880 ) $ — $ — $ — $ — Subordinated notes (1) — (100,330 ) — (100,330 ) — — — — Total CLO debt obligations — (3,054,210 ) — (3,054,210 ) — — — — Securities sold short: Equity securities (41,016 ) — — (41,016 ) (91,246 ) — — (91,246 ) Derivatives: Foreign-currency forward contracts — (4 ) — (4 ) — (64,364 ) — (64,364 ) Swaps — (1,082 ) — (1,082 ) — (223,359 ) (8,251 ) (231,610 ) Options and futures — — — — (88 ) (4,146 ) — (4,234 ) Total derivatives — (1,086 ) — (1,086 ) (88 ) (291,869 ) (8,251 ) (300,208 ) Total liabilities $ (41,016 ) $ (3,055,296 ) $ — $ (3,096,312 ) $ (91,334 ) $ (291,869 ) $ (8,251 ) $ (391,454 ) (1) The fair value of CLO liabilities is classified based on the more observable fair value of CLO assets. Please see notes 2 and 10 for more information.
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 December 31, 2015: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (9)(10)(11) Range Weighted Average (12) Credit-oriented investments: Consumer $ 289,107 Discounted cash flow (1) Discount rate 5% – 15% 12% 451,584 Market approach (2) Earnings multiple (3) 3x – 10x 6x 232,995 Recent transaction price (5) Not applicable Not applicable Not applicable 156,160 Recent market information (6) Quoted prices / discount Not applicable Not applicable Financials: 595,066 Discounted cash flow (1) Discount rate 6% – 14% 11% 259,669 Market approach (2)(4) Underlying asset multiple 1.1x – 1.5x 1.2x 232,958 Recent transaction price (5) Not applicable Not applicable Not applicable 241,667 Recent market information (6) Quoted prices / discount Not applicable Not applicable Industrials: 135,808 Discounted cash flow (1) Discount rate 5% – 15% 13% 55,310 Discounted cash flow (1) / (8) Discount rate / Market transactions 9% – 11% 10% 7,549 Market approach (2) Earnings multiple (3) 5x – 9x 7x 219,121 Market approach (2)(4) Underlying asset multiple 0.7x – 1.0x 0.9x 45,647 Recent transaction price (5) Not applicable Not applicable Not applicable 24,247 Recent market information (6) Quoted prices / discount Not applicable Not applicable Materials: 417,749 Discounted cash flow (1) Discount rate 11% – 14% 14% 128,230 Market approach (2) Earnings multiple (3) 7x – 9x 8x 3,938 Recent transaction price (5) Not applicable Not applicable Not applicable 71,174 Recent market information (6) Quoted prices / discount Not applicable Not applicable Information 199,841 Discounted cash flow (1) Discount rate 6% – 13% 12% 143,596 Market approach (2) Earnings multiple (3) 6x – 8x 7x 63,594 Recent transaction price (5) Not applicable Not applicable Not applicable 62,353 Recent market information (6) Quoted prices / discount Not applicable Not applicable Other: 442,797 Discounted cash flow (1) Discount rate 5% – 20% 12% 60,643 Recent transaction price (5) Not applicable Not applicable Not applicable 331,485 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: Financials: 58,352 Discounted cash flow (1) Discount rate 14% – 16% 15% 1,029,904 Market approach (2)(4) Underlying asset multiple 1.0x – 1.5x 1.4x 189,714 Recent transaction price (5) Not applicable Not applicable Not applicable Industrials: 37,130 Discounted cash flow (1) Discount rate 10% – 12% 11% 2,385,995 Market approach (2) Earnings multiple (3) 5x – 18x 9x 1,287,791 Market approach (2)(4) Underlying asset multiple 0.9x – 1.0x 1.0x 248,894 Recent transaction price (5) Not applicable Not applicable Not applicable 53,005 Recent market information (6) Quoted prices / discount Not applicable Not applicable Materials: 1,238,760 Market approach (2) Earnings multiple (3) 7x – 9x 8x 25,133 Recent transaction price (5) Not applicable Not applicable Not applicable Utilities 616,596 Market approach (2) Earnings multiple (3) 8x – 11x 9x 266,185 Other Not applicable Not applicable Not applicable 200,112 Recent transaction price (5) Not applicable Not applicable Not applicable Other: 1,898,334 Market approach (2) Earnings multiple (3) 6x – 18x 10x 164,026 Market approach (2)(4) Underlying asset multiple 1.1x – 1.3x 1.2x 221,350 Recent transaction price (5) Not applicable Not applicable Not applicable 171,463 Recent market information (6) Quoted prices / discount Not applicable Not applicable Real estate-oriented investments: 3,863,639 Discounted cash flow (1)(7) Discount rate 6% – 44% 13% Terminal capitalization rate 5% – 10% 7% Direct capitalization rate 5% – 10% 7% Net operating income growth rate 0% – 38% 10% Absorption rate 25% – 44% 30% 132,640 Discounted cash flow (1) / (8) Discount rate / Market transactions 6% – 8% 7% 218,817 Market approach (2) Earnings multiple (3) 9x – 11x 11x 992,695 Market approach (2)(4) Underlying asset multiple 1x – 1.8x 1.6x 512,120 Recent transaction price (5) Not applicable Not applicable Not applicable 2,385,895 Recent market information (6) Quoted prices / discount 0% – 5% 3% 1,385,418 Sales approach (8) Market transactions Not applicable Not applicable 164,046 Other Not applicable Not applicable Not applicable Real estate loan portfolios: 2,101,463 Discounted cash flow (1)(7) Discount rate 7% – 23% 13% 495,942 Recent transaction price (5) Not applicable Not applicable Not applicable Total Level III $ 27,217,707 (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.

DERIVATIVES AND HEDGING (Tables

DERIVATIVES AND HEDGING (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Net Forward Currency Sell Contracts Under Freestanding Derivatives	The fair value of foreign-currency forward sell contracts consisted of the following: As of December 31, 2016: Contract Contract Amount in U.S. Dollars Market Amount in U.S. Dollars Net Unrealized Appreciation (Depreciation) Euro, expiring 1/9/17-12/29/17 242,100 $ 271,848 $ 257,652 $ 14,196 USD (buy GBP), expiring 1/31/17-12/29/17 72,565 72,565 78,143 (5,578 ) Japanese Yen, expiring 1/31/17-2/28/17 6,150,000 52,511 52,792 (281 ) Total $ 396,924 $ 388,587 $ 8,337 As of December 31, 2015: Euro, expiring 1/8/16-12/30/16 246,850 $ 274,135 $ 269,603 $ 4,532 USD (buy GBP), expiring 1/8/16-10/31/16 70,594 70,594 72,476 (1,882 ) Japanese Yen, expiring 1/29/16-9/30/16 5,840,300 48,631 48,692 (61 ) Total $ 393,360 $ 390,771 $ 2,589
Summary of Impact of Freestanding Derivative Instruments on Condensed Consolidated Statement of Operations	Realized and unrealized gains and losses arising from freestanding derivative instruments were recorded in the consolidated statements of operations as follows: Year Ended December 31, 2016 2015 2014 Investment income $ 4,630 $ — $ 2,554 General and administrative expense (1) (8,846 ) 23,554 31,772 Total $ (4,216 ) $ 23,554 $ 34,326 (1) To the extent that the Company’s freestanding derivatives are utilized to hedge its foreign-currency 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 expense.
Impact of Derivative Instruments Held by Consolidated Funds on Condensed Consolidated Statements of Operations	The impact of derivatives held by the consolidated funds in the consolidated statements of operations was as follows: Year Ended December 31, 2016 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 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Foreign-currency forward contracts $ 521 $ 264 $ 457,594 $ (98,420 ) $ 179,675 $ 278,647 Total-return and interest-rate swaps (2,353 ) (1,416 ) (215,837 ) (38,658 ) 54,437 (193,079 ) Options and futures (1,293 ) 3 43,055 (30,198 ) (38,431 ) 6,513 Swaptions — — (2,933 ) 2,186 (1,158 ) (4,770 ) Total $ (3,125 ) $ (1,149 ) $ 281,879 $ (165,090 ) $ 194,523 $ 87,311
Schedule of Notional Amounts of Outstanding Derivative Positions	Outstanding foreign-currency forward contracts as of December 31, 2016 and 2015, as shown in the table below, included $216 thousand and $156.2 million of gross unrealized appreciation, and $4 thousand and $64.4 million of gross unrealized depreciation, respectively. As of December 31, 2016: Buy (Sell) Contract Amount in Local Currency Contract Amount in U.S. Dollars Market Amount in U.S. Dollars Net Unrealized Appreciation (Depreciation) Euro, expiring 1/6/17-3/16/17 (10,248 ) $ 10,997 $ 10,821 $ 176 Pound Sterling, expiring 1/6/17 (901 ) 1,146 1,110 36 Total $ 12,143 $ 11,931 $ 212 As of December 31, 2015: Buy (Sell) Contract Amount in Local Currency Contract Amount in U.S. Dollars Market Amount in U.S. Dollars Net Unrealized Appreciation (Depreciation) Euro, expiring 1/12/16-11/13/18 (2,383,537 ) $ 2,630,690 $ 2,600,245 $ 30,445 Pound Sterling, expiring 1/12/16-11/14/16 (1,401,289 ) 2,135,175 2,065,891 69,284 Canadian Dollar, expiring 2/4/16-5/19/16 (46,505 ) 35,279 33,485 1,794 Australian Dollar, expiring 3/17/16 (323,440 ) 228,399 234,428 (6,029 ) Hong Kong Dollar, expiring 1/21/16 (1,896 ) 245 245 — Japanese Yen, expiring 1/21/16 -4/7/16 (7,651,169 ) 62,040 63,709 (1,669 ) Swiss Franc, expiring 1/21/16 (481 ) 493 481 12 Singapore Dollar, expiring 1/21/16 (2,444 ) 1,753 1,722 31 South Korean Won, expiring 1/4/16-12/1/16 (151,173,334 ) 132,553 128,757 3,796 New Zealand Dollar, expiring 3/17/16-6/9/16 (284,364 ) 178,371 193,723 (15,352 ) Danish Krone, expiring 11/4/16 (362,000 ) 54,167 53,316 851 Chinese Yuan, expiring 3/17/16-5/20/16 (466,187 ) 74,667 71,220 3,447 Swedish Krona, expiring 1/21/16 (145 ) (11 ) (17 ) 6 U.S. Dollar (buy Euro), expiring 1/12/16-11/18/16 (32,547 ) 37,577 32,323 5,254 Total $ 5,571,398 $ 5,479,528 $ 91,870
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The “gross amounts not offset in statements of financial condition” columns represent derivatives that management has elected not to offset in the consolidated statements of financial condition even though they are eligible to be offset in accordance with applicable accounting guidance. Gross and Net Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of December 31, 2016: Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ 16,142 $ 7,805 $ — $ 8,337 Derivative assets of consolidated funds: Foreign-currency forward contracts 216 4 — 212 Total-return and interest-rate swaps 141 141 — — Subtotal 357 145 — 212 Total $ 16,499 $ 7,950 $ — $ 8,549 Derivative Liabilities: Foreign-currency forward contracts $ (7,805 ) $ (7,805 ) $ — $ — Interest-rate swaps (60 ) — (60 ) Subtotal (7,865 ) (7,805 ) — (60 ) Derivative liabilities of consolidated funds: Foreign-currency forward contracts (4 ) (4 ) — — Total-return and interest-rate swaps (1,082 ) (141 ) (941 ) — Subtotal (1,086 ) (145 ) (941 ) — Total $ (8,951 ) $ (7,950 ) $ (941 ) $ (60 ) Gross and Net Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of December 31, 2015: Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ 5,875 $ 2,047 $ — $ 3,828 Derivative assets of consolidated funds: Foreign-currency forward contracts 156,234 38,033 — 118,201 Total-return and interest-rate swaps 16,544 4,526 — 12,018 Options and futures 25,559 5,665 — 19,894 Swaptions 14 14 — — Subtotal 198,351 48,238 — 150,113 Total $ 204,226 $ 50,285 $ — $ 153,941 Derivative Liabilities: Foreign-currency forward contracts $ (3,286 ) $ (2,047 ) $ — $ (1,239 ) Interest-rate swaps (943 ) — — (943 ) Subtotal (4,229 ) (2,047 ) — (2,182 ) Derivative liabilities of consolidated funds: Foreign-currency forward contracts (64,364 ) (38,788 ) — (25,576 ) Total-return and interest-rate swaps (231,610 ) (5,304 ) (202,677 ) (23,629 ) Options and futures (4,234 ) (4,146 ) (88 ) — Subtotal (300,208 ) (48,238 ) (202,765 ) (49,205 ) Total $ (304,437 ) $ (50,285 ) $ (202,765 ) $ (51,387 )

FIXED ASSETS (Tables)

FIXED ASSETS (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
FIXED ASSETS	The following table sets forth the Company’s fixed assets and accumulated depreciation: As of December 31, 2016 2015 Furniture, equipment and capitalized software $ 18,771 $ 16,820 Leasehold improvements 49,626 43,107 Corporate aircraft 66,277 12,439 Other 3,748 3,295 Fixed assets 138,422 75,661 Accumulated depreciation (45,344 ) (36,394 ) Fixed assets, net $ 93,078 $ 39,267

GOODWILL AND INTANGIBLES (Table

GOODWILL AND INTANGIBLES (Tables)	12 Months Ended
	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLES	The following table summarizes the carrying value of intangible assets: As of December 31, 2016 2015 Contractual rights $ 28,017 $ 28,017 Accumulated amortization (9,675 ) (5,671 ) Intangible assets, net $ 18,342 $ 22,346

DEBT OBLIGATIONS AND CREDIT F37

DEBT OBLIGATIONS AND CREDIT FACILITIES (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt Obligations	The table below sets forth the outstanding debt obligations of CLOs as of the date indicated. As of December 31, 2016 As of December 31, 2015 Carrying Value (1) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Carrying Value Fair Value (2) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Senior secured notes (3) $ 471,603 2.90% 8.2 $ 457,196 $ 447,460 2.37% 9.3 Senior secured notes (3) 470,298 3.03% 9.9 454,423 446,558 2.52% 11.0 Senior secured notes (4) 49,336 3.31% 2.0 79,914 78,632 2.96% 3.0 Senior secured notes (5) 357,706 1.73% 10.7 363,709 357,626 2.26% 11.7 Senior secured notes (3) 467,084 2.96% 11.0 455,295 448,933 2.54% 12.0 Senior secured notes (5) 360,234 2.29% 11.3 361,142 359,914 2.29% 12.3 Senior secured notes (5) 395,458 2.28% 12.4 — — — — Senior secured notes (5) 382,161 1.99% 13.2 — — — — Subordinated note (6) 12,281 N/A 9.9 25,500 16,400 N/A 11.0 Subordinated note (6) 17,871 N/A 10.7 21,183 15,876 N/A 11.7 Subordinated note (6) 18,432 N/A 11.0 25,500 18,337 N/A 12.0 Subordinated note (6) 13,422 N/A 11.3 17,924 11,928 N/A 12.3 Subordinated note (6) 17,073 N/A 12.4 12,036 12,036 N/A 1.6 Subordinated note (6) 21,251 N/A 13.2 — — — — Term loan — — — 81,238 81,238 1.20% 1.6 Total CLO debt obligations 3,054,210 2,355,060 $ 2,294,938 Less: Debt issuance costs — (24,701 ) Total CLO debt obligations, net $ 3,054,210 $ 2,330,359 (1) The Company adopted the CLO measurement guidance on a modified retrospective approach as of January 1, 2016. Upon adoption, the Company elected the fair value option for the financial liabilities of the consolidated CLOs and determined that the fair value of the CLO assets was more observable than the fair value of the CLO liabilities. Accordingly, the fair value of CLO liabilities was measured as the fair value of CLO assets less the sum of (a) the fair value of any beneficial interests held by the Company and (b) the carrying value of any beneficial interests that represent compensation for services. Please see notes 2 and 6 for more information. (2) 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. (3) The weighted average interest rate is based on LIBOR plus a margin. (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 (subject to a zero floor) plus a margin. (6) The subordinated notes do not have a contractual interest rate; instead, they receive distributions from the excess cash flows generated by the CLO. The Company’s debt obligations are set forth below: As of December 31, 2016 2015 $50,000, 6.09%, issued in June 2006, matured on June 6, 2016 $ — $ 50,000 $50,000, 5.82%, issued in November 2006, matured on November 8, 2016 — 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, 2021 150,000 250,000 $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 $100,000, 3.69%, issued in July 2016, payable on July 12, 2031 100,000 — Total remaining principal 750,000 850,000 Less: Debt issuance costs (4,103 ) (3,646 ) Debt obligations $ 745,897 $ 846,354
Future Principal Payments of Debt Obligations	As of December 31, 2016, future scheduled principal payments of debt obligations were as follows: 2017 $ — 2018 — 2019 250,000 2020 — 2021 150,000 Thereafter 350,000 Total $ 750,000 As of December 31, 2016, future scheduled principal (or par value) payments with respect to the debt obligations of CLOs were as follows: 2017 $ — 2018 49,336 2019 — 2020 — 2021 — Thereafter 3,002,952 Total $ 3,052,288
Revolving Bank Credit Facilities and Term Loans Outstanding of Consolidated Funds	The consolidated funds had the following revolving credit facilities and term loans outstanding: Outstanding Amount as of December 31, Facility Capacity LIBOR Margin (1) Maturity Commitment Fee Rate L/C Fee Credit Agreement 2016 2015 Credit facilities $ — $ 2,381,324 $ 450,000 1.25% 4/19/2019 N/A N/A Revolving credit facilities — 2,718,394 N/A N/A N/A N/A N/A Senior variable rate notes (2) 488,997 1,363,044 $ 489,000 Various 10/20/2027 N/A N/A Total debt obligations 488,997 6,462,762 Less: Debt issuance costs (5,041 ) (20,020 ) Total debt obligations, net $ 483,956 $ 6,442,742 (1) The facility bears interest at an annual rate of LIBOR plus the applicable margin. (2) The weighted average interest rate was 2.63% as of December 31, 2016.

NON-CONTROLLING REDEEMABLE IN38

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS (Tables)	12 Months Ended
	Dec. 31, 2016
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 presented on a gross basis in the table below. Year Ended December 31, 2016 2015 2014 Beginning balance $ 38,173,125 $ 41,681,155 $ 38,834,831 Cumulative-effect adjustment from adoption of accounting guidance (37,969,042 ) — — Contributions 144,060 5,796,081 9,420,044 Distributions (56,557 ) (7,407,437 ) (7,962,362 ) Net income (loss) 20,988 (1,812,539 ) 1,647,753 Change in distributions payable (4,227 ) 387,989 (528,051 ) Change in accrued or deferred contributions — 526 (26,760 ) Initial consolidation of a fund 34,095 — 902,979 Foreign-currency translation and other 1,605 (472,650 ) (607,279 ) Ending balance $ 344,047 $ 38,173,125 $ 41,681,155

UNITHOLDERS' CAPITAL (Tables)

UNITHOLDERS' CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Note [Abstract]
Schedule of Distributions Made	Distributions per Class A unit are set forth below: Payment Date Record Date Applicable to Quarterly Period Ended Distribution Per Unit November 14, 2016 November 7, 2016 September 30, 2016 $ 0.65 August 12, 2016 August 8, 2016 June 30, 2016 0.58 May 13, 2016 May 9, 2016 March 31, 2016 0.55 February 26, 2016 February 19, 2016 December 31, 2015 0.47 Total 2016 $ 2.25 November 12, 2015 November 9, 2015 September 30, 2015 $ 0.40 August 13, 2015 August 10, 2015 June 30, 2015 0.50 May 14, 2015 May 11, 2015 March 31, 2015 0.64 February 25, 2015 February 19, 2015 December 31, 2014 0.56 Total 2015 $ 2.10 November 13, 2014 November 10, 2014 September 30, 2014 $ 0.62 August 14, 2014 August 11, 2014 June 30, 2014 0.55 May 15, 2014 May 12, 2014 March 31, 2014 0.98 February 27, 2014 February 24, 2014 December 31, 2013 1.00 Total 2014 $ 3.15
Summary of Net Income (Loss)	The following table sets forth a summary of net income attributable to the OCGH non-controlling interest and to Class A unitholders: Year Ended December 31, 2016 2015 2014 Weighted average Oaktree Operating Group units outstanding (in thousands): OCGH non-controlling interest 92,122 104,427 110,078 Class A unitholders 62,565 49,324 42,582 Total weighted average units outstanding 154,687 153,751 152,660 Oaktree Operating Group net income: Net income attributable to OCGH non-controlling interest $ 343,781 $ 195,162 $ 386,398 Net income attributable to Class A unitholders 233,765 87,620 146,446 Oaktree Operating Group net income (1) $ 577,546 $ 282,782 $ 532,844 Net income attributable to Oaktree Capital Group, LLC: Oaktree Operating Group net income attributable to Class A unitholders $ 233,765 $ 87,620 $ 146,446 Non-Operating Group expenses (1,176 ) (2,097 ) (1,645 ) Income tax expense of Intermediate Holding Companies (37,884 ) (14,174 ) (18,518 ) Net income attributable to Oaktree Capital Group, LLC $ 194,705 $ 71,349 $ 126,283 (1) Oaktree Operating Group net income does not include amounts attributable to other non-controlling interests, which amounted to $4,696 , $10,214 and $12,981 for the years ended December 31, 2016, 2015 and 2014, respectively.
Changes in Company Ownership Interest	The change in the Company’s ownership interest in the Oaktree Operating Group is set forth below: Year Ended December 31, 2016 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 194,705 $ 71,349 $ 126,283 Equity reallocation between controlling and non-controlling interests 14,388 181,539 51,525 Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests $ 209,093 $ 252,888 $ 177,808

EARNINGS PER UNIT (Tables)

EARNINGS PER UNIT (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Unit [Abstract]
Computations of Net Income Per Unit	The computation of net income per Class A unit is set forth below: Year Ended December 31, 2016 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 $ 194,705 $ 71,349 $ 126,283 Weighted average number of Class A units outstanding (basic and diluted) 62,565 49,324 42,582 Basic and diluted net income per Class A unit $ 3.11 $ 1.45 $ 2.97

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Unvested Equity-Based Awards and Changes	A summary of the status of the Company’s unvested Class A and OCGH unit awards and a summary of changes for the periods presented are set forth below (actual dollars per unit): Class A Units OCGH Units Number of Units Weighted Average Grant Date Fair Value Number of Units Weighted Average Grant Date Fair Value Balance, December 31, 2013 16,582 $ 45.34 4,465,722 $ 30.30 Granted 7,164 58.88 1,770,418 43.98 Vested (4,697 ) 44.54 (1,109,170 ) 24.90 Forfeited — — (55,978 ) 34.42 Balance, December 31, 2014 19,049 50.63 5,070,992 36.21 Granted 7,940 55.75 1,175,213 44.04 Vested (50,931 ) 40.11 (1,421,597 ) 32.38 Exchanged (1) 2,418,282 38.10 (2,418,282 ) 38.10 Forfeited (18,000 ) 42.29 (140,359 ) 35.68 Balance, December 31, 2015 2,376,340 38.18 2,265,967 40.70 Granted 830,949 46.79 879,667 35.96 Vested (997,039 ) 37.71 (601,249 ) 39.18 Forfeited (81,850 ) 35.63 (206,432 ) 34.60 Balance, December 31, 2016 2,128,400 $ 41.86 2,337,953 $ 39.80 (1) Represents the unvested units with respect to the November 2015 exchange of 12,998,725 outstanding vested and unvested OCGH units into an equal number of Class A units.

INCOME TAXES AND RELATED PAYM42

INCOME TAXES AND RELATED PAYMENTS (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense	Income tax expense from operations consisted of the following: Year Ended December 31, 2016 2015 2014 Current: U.S. federal income tax $ 10,268 $ 1,478 $ 4,128 State and local income tax 6,154 1,650 (372 ) Foreign income tax 1,436 2,621 2,245 $ 17,858 $ 5,749 $ 6,001 Deferred: U.S. federal income tax $ 23,835 $ 11,306 $ 12,544 State and local income tax 2,110 786 1,836 Foreign income tax (1,284 ) (292 ) (1,845 ) $ 24,661 $ 11,800 $ 12,535 Total: U.S. federal income tax $ 34,103 $ 12,784 $ 16,672 State and local income tax 8,264 2,436 1,464 Foreign income tax 152 2,329 400 Income tax expense $ 42,519 $ 17,549 $ 18,536
Schedule of Income before Income Tax, Domestic and Foreign	The Company’s income (loss) before income taxes consisted of the following: Year Ended December 31, 2016 2015 2014 Domestic income (loss) before income taxes $ 623,712 $ (1,518,108 ) $ 2,195,174 Foreign income (loss) before income taxes (15,090 ) 2,695 (1,086 ) Total income (loss) before income taxes $ 608,622 $ (1,515,413 ) $ 2,194,088
Schedule of Effective Income Tax Rate Reconciliation	The Company’s effective tax rate differed from the federal statutory rate for the following reasons: Year Ended December 31, 2016 2015 2014 Income tax expense at federal statutory rate 35.00 % 35.00 % 35.00 % Income passed through (30.31 ) (35.91 ) (34.15 ) State and local taxes, net of federal benefit 1.28 (0.17 ) 0.05 Foreign taxes 0.89 (0.09 ) 0.04 Other, net 0.13 0.01 (0.10 ) Total effective rate 6.99 % (1.16 )% 0.84 %
Schedule of Deferred Tax Assets and Liabilities	The components of the Company’s deferred tax assets and liabilities were as follows: As of December 31, 2016 2015 2014 Deferred tax assets: Investment in partnerships $ 386,796 $ 414,142 $ 351,962 Equity-based compensation expense 4,449 3,773 5,514 Other, net 14,329 9,675 3,071 Total deferred tax assets 405,574 427,590 360,547 Total deferred tax liabilities 960 1,792 3,183 Net deferred tax assets before valuation allowance 404,614 425,798 357,364 Valuation allowance — — — Net deferred tax assets $ 404,614 $ 425,798 $ 357,364
Schedule of Unrecognized Tax Benefits Roll Forward	The following is a reconciliation of unrecognized tax benefits (excluding interest and penalties thereon): Year Ended December 31, 2016 2015 2014 Unrecognized tax benefits, January 1 $ 4,956 $ 5,575 $ 10,390 Additions for tax positions related to the current year 350 1,156 1,492 Additions for tax positions related to prior years 2,121 109 — Reductions for tax positions related to prior years (79 ) — (1,373 ) Settlements — — (3,657 ) Lapse in statute of limitations (1,580 ) (1,884 ) (1,277 ) Unrecognized tax benefits, December 31 $ 5,768 $ 4,956 $ 5,575

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	As of December 31, 2016, aggregate estimated minimum commitments under Oaktree’s operating leases were as follows: 2017 $ 10,056 2018 14,275 2019 14,556 2020 14,961 2021 11,672 Thereafter 55,480 Total $ 121,000

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Amounts Due from and Due to Affiliates	The fair value of amounts due to affiliates approximated $164,335 and $160,952 as of December 31, 2016 and 2015, respectively, based on a discount rate of 10.0% . As of December 31, 2016 2015 Due from affiliates: Loans $ 19,325 $ 29,718 Amounts due from unconsolidated funds 53,573 777 Management fees and incentive income due from unconsolidated funds 130,708 — Payments made on behalf of unconsolidated entities 3,779 3,788 Non-interest bearing advances made to certain non-controlling interest holders and employees 1,258 1,616 Total due from affiliates $ 208,643 $ 35,899 Due to affiliates: Due to OCGH unitholders in connection with the tax receivable agreement (please see note 15) $ 340,966 $ 356,851 Amounts due to senior executives, certain non-controlling interest holders and employees 5,577 — Total due to affiliates $ 346,543 $ 356,851

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Adjusted Net Income	ANI was as follows: Year Ended December 31, 2016 2015 2014 Revenues: Management fees $ 785,673 $ 753,805 $ 762,823 Incentive income 355,152 263,806 491,402 Investment income 221,377 48,253 117,662 Total revenues 1,362,202 1,065,864 1,371,887 Expenses: Compensation and benefits (381,937 ) (404,442 ) (379,360 ) Equity-based compensation (51,759 ) (37,978 ) (19,705 ) Incentive income compensation (169,683 ) (141,822 ) (231,871 ) General and administrative (123,784 ) (120,783 ) (127,954 ) Depreciation and amortization (12,219 ) (10,018 ) (7,249 ) Total expenses (739,382 ) (715,043 ) (766,139 ) Adjusted net income before interest and other income (expense) 622,820 350,821 605,748 Interest expense, net of interest income (1) (31,845 ) (35,032 ) (30,190 ) Other income (expense), net (8,392 ) (3,927 ) (2,431 ) Adjusted net income $ 582,583 $ 311,862 $ 573,127 (1) Interest income was $6.6 million , $5.1 million and $3.6 million for the years ended December 31, 2016, 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. Year Ended December 31, 2016 2015 2014 Net income attributable to Oaktree Capital Group, LLC $ 194,705 $ 71,349 $ 126,283 Incentive income (1) 1,407 (19,002 ) 28,813 Incentive income compensation (1) (1,407 ) 19,009 (10,677 ) Investment income (2) (21,814 ) — — Equity-based compensation (3) 11,965 16,403 21,690 Placement costs (4) 11,870 3,619 — Foreign-currency hedging (5) 1,496 2,619 (2,003 ) Acquisition-related items (6) (924 ) 5,251 2,442 Income taxes (7) 42,519 17,549 18,536 Non-Operating Group expenses (8) 1,176 2,097 1,645 Non-controlling interests (8) 341,590 192,968 386,398 Adjusted net income $ 582,583 $ 311,862 $ 573,127 (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 differences in the recognition of investment income related to corporate investments in CLOs, which under GAAP are marked-to-market but for segment reporting are accounted for at amortized cost, subject to impairment. (3) This adjustment adds back the effect of (a) equity-based compensation expense related to unit grants made before our initial public offering, which is excluded from adjusted net income and fee-related earnings because it is a non-cash charge that does not affect our financial position, and (b) differences arising from EVUs that are classified as liability awards under GAAP but as equity awards for segment reporting. (4) This adjustment adds back the effect of timing differences with respect to the recognition of third-party placement costs associated with closed-end funds between adjusted net income and net income attributable to OCG. (5) This adjustment adds back the effect of timing differences associated with the recognition of unrealized gains and losses related to foreign-currency hedging between adjusted net income and net income attributable to OCG. (6) This adjustment adds back the effect of acquisition-related items associated with the amortization of intangibles and changes in the contingent consideration liability, which are excluded from adjusted net income. (7) Because adjusted net income and fee-related earnings are pre-tax measures, this adjustment adds back the effect of income tax expense. (8) Because adjusted net income and fee-related earnings are 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 consolidated financial statements: As of or for the Year Ended December 31, 2016 Segment Adjustments Consolidated Management fees (1) $ 785,673 $ (11,086 ) $ 774,587 Incentive income (1) 355,152 (3,993 ) 351,159 Investment income (1) 221,377 (22,251 ) 199,126 Total expenses (2) (739,382 ) (49,954 ) (789,336 ) Interest expense, net (3) (31,845 ) (88,765 ) (120,610 ) Other income (expense), net (4) (8,392 ) 21,882 13,490 Other income of consolidated funds (5) — 180,206 180,206 Income taxes — (42,519 ) (42,519 ) Net income attributable to non-controlling interests in consolidated funds — (22,921 ) (22,921 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (348,477 ) (348,477 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 582,583 $ (387,878 ) $ 194,705 Corporate investments (6) $ 1,480,928 $ (357,196 ) $ 1,123,732 Total assets (7) $ 3,313,714 $ 4,335,396 $ 7,649,110 (1) The adjustment represents (a) the elimination of amounts earned from the consolidated funds, (b) for management fees, the reclassification of $408 of net gains related to foreign-currency hedging activities to general and administrative expense and (c) for investment income, differences of $21,814 related to corporate investments in CLOs, which under GAAP are marked-to-market but for segment reporting accounted for at amortized cost, subject to impairment. (2) The expense adjustment consists of (a) equity-based compensation expense of $13,627 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $4,428 , (c) expenses incurred by the Intermediate Holding Companies of $1,051 , (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 $1,407 , (e) acquisition-related items of $924 , (f) adjustments of $21,194 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 $1,661 arising from EVUs that are classified as liability awards under GAAP but as equity awards for segment reporting, (h) $11,870 related to third-party placement costs, and (i) $1,776 of net losses related to foreign-currency hedging activities. (3) The interest expense adjustment represents the inclusion of interest expense attributable to third-party investors in CLOs, 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 (a) amounts received for contractually reimbursable costs of $21,194 that are classified as expenses for segment reporting and as other income under GAAP, and (b) the reclassification of $688 of net losses related to foreign-currency hedging activities to general and administrative expense. (5) The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to third-party investors in CLOs and 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 that are treated as equity- or cost-method investments for segment reporting. The $1.5 billion of corporate investments included $1.2 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 Year Ended December 31, 2015 Segment Adjustments Consolidated Management fees (1) $ 753,805 $ (558,497 ) $ 195,308 Incentive income (1) 263,806 (257,209 ) 6,597 Investment income (1) 48,253 3,705 51,958 Total expenses (2) (715,043 ) (225,865 ) (940,908 ) Interest expense, net (3) (35,032 ) (181,767 ) (216,799 ) Other income (expense), net (4) (3,927 ) 23,933 20,006 Other income (loss) of consolidated funds (5) — (631,575 ) (631,575 ) Income taxes — (17,549 ) (17,549 ) Net loss attributable to non-controlling interests in consolidated funds — 1,809,683 1,809,683 Net income attributable to non-controlling interests in consolidated subsidiaries — (205,372 ) (205,372 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 311,862 $ (240,513 ) $ 71,349 Corporate investments (6) $ 1,434,109 $ (1,220,121 ) $ 213,988 Total assets (7) $ 3,254,082 $ 48,508,649 $ 51,762,731 (1) The adjustment represents (a) the elimination of amounts attributable to the consolidated funds and (b) for management fees, the reclassification of $12,676 of net gains related to foreign-currency hedging activities to general and administrative expense. (2) The expense adjustment consists of (a) equity-based compensation expense of $16,475 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $165,904 , (c) expenses incurred by the Intermediate Holding Companies of $1,690 and (d) the effect of timing differences in the recognition of incentive income compensation expense between adjusted net income and net income attributable to OCG of $19,009 , (e) acquisition-related items of $5,251 , (f) adjustments of $23,552 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 $72 arising from EVUs that are classified as liability awards under GAAP but as equity awards for segment reporting, (g) $9,676 of net gains related to foreign-currency hedging activities, and (i) other expenses of $113 . (3) The interest expense adjustment represents the inclusion of interest expense attributable to third-party investors in CLOs, 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 (a) amounts received for contractually reimbursable costs of $23,552 that are classified as expenses for segment reporting and as other income under GAAP, and (b) the reclassification of $381 of net losses related to foreign-currency hedging activities to general and administrative expense. (5) The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to third-party investors in CLOs and 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 that are treated as equity- or cost-method investments for segment reporting. The $1.4 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 Year Ended December 31, 2014 Segment Adjustments Consolidated Management fees (1) $ 762,823 $ (570,768 ) $ 192,055 Incentive income (1) 491,402 (489,563 ) 1,839 Investment income (1) 117,662 (83,967 ) 33,695 Total expenses (2) (766,139 ) (181,338 ) (947,477 ) Interest expense, net (3) (30,190 ) (99,752 ) (129,942 ) Other income (expense), net (4) (2,431 ) 5,449 3,018 Other income of consolidated funds (5) — 3,040,900 3,040,900 Income taxes — (18,536 ) (18,536 ) Net income attributable to non-controlling interests in consolidated funds — (1,649,890 ) (1,649,890 ) Net income attributable to non-controlling interests in consolidated subsidiaries — (399,379 ) (399,379 ) Adjusted net income/net income attributable to Oaktree Capital Group, LLC $ 573,127 $ (446,844 ) $ 126,283 Corporate investments (6) $ 1,515,443 $ (1,327,480 ) $ 187,963 Total assets (7) $ 3,263,382 $ 50,057,334 $ 53,320,716 (1) The adjustment represents (a) the elimination of amounts attributable to the consolidated funds and (b) for management fees, the reclassification of $1,669 of net losses related to foreign-currency hedging activities to general and administrative expense. (2) The expense adjustment consists of (a) equity-based compensation expense of $21,657 related to unit grants made before the Company’s initial public offering, (b) consolidated fund expenses of $161,055 , (c) expenses incurred by the Intermediate Holding Companies of $1,645 , (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 $10,677 , (e) acquisition-related items of $2,442 , (f) adjustments of $8,319 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 $33 arising from EVUs that are classified as liability awards under GAAP but as equity awards for segment reporting, (g) $3,204 of net gains related to foreign-currency hedging activities, and (i) other expenses of $68 . (3) The interest expense adjustment represents the inclusion of interest expense attributable to third-party investors in CLOs, 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 (a) amounts received for contractually reimbursable costs of $8,319 that are classified as expenses for segment reporting and as other income under GAAP, and (b) the reclassification of $2,870 of net gains related to foreign-currency hedging activities to general and administrative expense. (5) The adjustment to other income of consolidated funds primarily represents the inclusion of interest, dividend and other investment income attributable to third-party investors in CLOs and 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 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.

QUARTERLY FINANCIAL DATA (Table

QUARTERLY FINANCIAL DATA (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Information	QUARTERLY FINANCIAL DATA (UNAUDITED) Three Months Ended March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Revenues $ 254,490 $ 282,716 $ 290,230 $ 298,310 Expenses (185,184 ) (191,648 ) (202,339 ) (210,165 ) Other income (loss) 26,542 58,337 89,499 97,834 Income before income taxes $ 95,848 $ 149,405 $ 177,390 $ 185,979 Net income $ 83,168 $ 140,834 $ 168,823 $ 173,278 Net income attributable to Oaktree Capital Group, LLC $ 28,078 $ 49,047 $ 58,297 $ 59,283 Net income per unit (basic and diluted): Net income per Class A unit $ 0.45 $ 0.78 $ 0.93 $ 0.94 Distributions declared per Class A unit $ 0.47 $ 0.55 $ 0.58 $ 0.65 Three Months Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues $ 50,819 $ 51,487 $ 50,491 $ 49,108 Expenses (235,974 ) (245,929 ) (190,518 ) (268,487 ) Other income (loss) 1,476,049 (116,711 ) (1,624,651 ) (511,097 ) Income (loss) before income taxes $ 1,290,894 $ (311,153 ) $ (1,764,678 ) $ (730,476 ) Net income (loss) $ 1,283,019 $ (316,638 ) $ (1,766,571 ) $ (732,772 ) Net income attributable to Oaktree Capital Group, LLC $ 38,253 $ 19,814 $ 1,887 $ 11,395 Net income per unit (basic and diluted): Net income per Class A unit $ 0.85 $ 0.41 $ 0.04 $ 0.21 Distributions declared per Class A unit $ 0.56 $ 0.64 $ 0.50 $ 0.40

ORGANIZATION AND BASIS OF PRE47

ORGANIZATION AND BASIS OF PRESENTATION - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016partnership_interestvote
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Ownership interest (as a percent)	100.00%
Number of partnership interests | partnership_interest	1
Number of votes per Class A unit	1
Number of votes per Class B unit	10

SUMMARY OF SIGNIFICANT ACCOUN48

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Consolidation) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Assets	$ 7,649,110	$ 51,762,731	$ 53,320,716
Liabilities	5,419,892	11,781,512
Non-controlling redeemable interests in consolidated funds	344,047	38,173,125	41,681,155	$ 38,834,831
Unitholders' capital	$ 1,885,171	$ 1,808,094	$ 1,840,130	$ 1,708,378

SUMMARY OF SIGNIFICANT ACCOUN49

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Non-controlling Redeemable Interests in Consolidated Funds) (Details)	12 Months Ended
	Dec. 31, 2016
Minimum
Variable Interest Entity [Line Items]
Withdrawal period	1 month
Maximum
Variable Interest Entity [Line Items]
Withdrawal period	3 years

SUMMARY OF SIGNIFICANT ACCOUN50

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Goodwill and Intangible Assets) (Details) - Contractual Rights to Earn Future Fee Income	12 Months Ended
	Dec. 31, 2016
Minimum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	7 years

SUMMARY OF SIGNIFICANT ACCOUN51

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Fair Value) (Details)	12 Months Ended
	Dec. 31, 2016quote
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of quotes	1
Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of quotes	1
Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Number of quotes	2

SUMMARY OF SIGNIFICANT ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Management Fees) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net Investment Income [Line Items]
Ancillary fees recognized	$ 32.5	$ 26.6	$ 32.7
Minimum
Net Investment Income [Line Items]
Management fees, term (in years)	10 years
Maximum
Net Investment Income [Line Items]
Management fees, term (in years)	11 years

SUMMARY OF SIGNIFICANT ACCOUN53

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Incentive Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net Investment Income [Line Items]
Incentive income, closed-end funds (as a percent)	20.00%
Preferred return, closed-end funds (as a percent)	8.00%
Incentive income
Net Investment Income [Line Items]
Deferred revenue	$ 16.8	$ 0
Minimum
Net Investment Income [Line Items]
Incentive income, evergreen funds (as a percent)	10.00%
Maximum
Net Investment Income [Line Items]
Incentive income, evergreen funds (as a percent)	20.00%

SUMMARY OF SIGNIFICANT ACCOUN54

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Incentive Income Compensation Expense) (Details)	12 Months Ended
	Dec. 31, 2016
Incentive Income
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Incentive income compensation expense, vesting period (in years)	5 years

SUMMARY OF SIGNIFICANT ACCOUN55

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Depreciation and Amortization) (Details)	12 Months Ended
	Dec. 31, 2016
Furniture, equipment and capitalized software | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	3 years
Furniture, equipment and capitalized software | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful life (in years)	5 years
Acquired Intangibles | Minimum
Property, Plant and Equipment [Line Items]
Useful lives (in years)	3 years
Acquired Intangibles | Maximum
Property, Plant and Equipment [Line Items]
Useful lives (in years)	7 years

SUMMARY OF SIGNIFICANT ACCOUN56

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Total Return Swaps) (Details) - Swaps - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Long
Derivative [Line Items]
Notional amounts of total return swaps	$ 7,050	$ 2,913,281
Short
Derivative [Line Items]
Notional amounts of total return swaps	$ 11,938	$ 15,644

SUMMARY OF SIGNIFICANT ACCOUN57

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Recent Accounting Developments) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Jan. 01, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Assets	$ (7,649,110)		$ (51,762,731)	$ (53,320,716)
Liabilities	(5,419,892)		(11,781,512)
Non-controlling redeemable interests in consolidated funds	(344,047)		(38,173,125)	(41,681,155)	$ (38,834,831)
Unitholders' capital	(1,885,171)		(1,808,094)	$ (1,840,130)	$ (1,708,378)
Accounting Standards Update 2015-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Assets		$ 45,700,000
Liabilities		7,600,000
Non-controlling redeemable interests in consolidated funds		38,000,000
Unitholders' capital		90,600
Accounting Standards Update 2014-13
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Unitholders' capital		$ 32,100
Oaktree Capital Group Excluding Consolidated Funds
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt issuance costs, net	$ 4,103		3,646
Oaktree Capital Group Excluding Consolidated Funds | Accounting Standards Update 2015-03 | Long-term Debt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt issuance costs, net			3,600
Oaktree Capital Group Excluding Consolidated Funds | Accounting Standards Update 2015-03 | Other Assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt issuance costs, net			(3,600)
Consolidated Funds | Accounting Standards Update 2015-03 | Long-term Debt
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt issuance costs, net			44,700
Consolidated Funds | Accounting Standards Update 2015-03 | Other Assets
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Debt issuance costs, net			$ (44,700)

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($)	1 Months Ended
	Aug. 31, 2014	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Goodwill		$ 69,300,000	$ 69,300,000
Highstar Capital
Business Acquisition [Line Items]
Cash purchase price	$ 31,400,000
OCGH units issued (in shares)	100,595
Contingent consideration, up to	$ 60,000,000
Goodwill	50,800,000
Intangible assets	28,000,000
Noncontrolling interest	$ 72,200,000

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - Consolidated VIEs $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)entity	Dec. 31, 2015entity
Variable Interest Entity [Line Items]
Number of VIE's consolidated (in entity)	17	8
VIE consolidated assets | $	$ 4,600
VIE consolidated liabilities | $	3,900
Maximum loss exposure | $	$ 304.5
Funds Managed By Oaktree
Variable Interest Entity [Line Items]
Number of VIE's consolidated (in entity)	8
CLO's For Which Oaktree Acts As Collateral Manager
Variable Interest Entity [Line Items]
Number of VIE's consolidated (in entity)	8
CLO not Priced
Variable Interest Entity [Line Items]
Number of VIE's consolidated (in entity)	1
Remaining Variable Interest Entities
Variable Interest Entity [Line Items]
Number of VIE's consolidated (in entity)	16

VARIABLE INTEREST ENTITIES - VI

VARIABLE INTEREST ENTITIES - VIEs Not Consolidated (Details) - Unconsolidated VIEs $ in Thousands	Dec. 31, 2016USD ($)
Variable Interest Entity [Line Items]
Assets of VIEs	$ 52,098,059
Liabilities of VIEs	9,088,173
Maximum exposure to loss	1,214,941
Corporate investments
Variable Interest Entity [Line Items]
Assets and liabilities, net	1,055,227
Due from affiliates
Variable Interest Entity [Line Items]
Assets and liabilities, net	$ 159,714

INVESTMENTS - Corporate Investm

INVESTMENTS - Corporate Investments (Details) - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investment [Line Items]
Other investments, at fair value	$ 107,591	$ 67,626
Total corporate investments	1,123,732	213,988	$ 187,963
Funds
Investment [Line Items]
Equity-method investments	981,209	117,800
Companies
Investment [Line Items]
Equity-method investments	$ 34,932	$ 28,562

INVESTMENTS - Investment Income

INVESTMENTS - Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Other investments, at fair value	$ 9,188	$ 212	$ (13,073)
Total investment income	199,126	51,958	33,695
Funds
Schedule of Equity Method Investments [Line Items]
Equity-method investments investment income (loss)	123,511	1,813	556
Companies
Schedule of Equity Method Investments [Line Items]
Equity-method investments investment income (loss)	$ 66,427	$ 49,933	$ 46,212

INVESTMENTS - Equity-method Inv

INVESTMENTS - Equity-method Investments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Assets:
Cash and cash-equivalents	$ 3,713,045
Investments, at fair value	43,084,842
Other assets	1,994,304
Total assets	48,792,191
Liabilities and Capital:
Debt obligations	7,372,063
Other liabilities	2,028,065
Total liabilities	9,400,128
Total capital	39,392,063
Total liabilities and capital	48,792,191
Statements of Operations:
Revenues / investment income	2,188,044
Interest expense	(176,009)
Other expenses	(899,288)
Net realized and unrealized gain on investments	4,065,939
Net income	$ 5,178,686

INVESTMENTS - Other Investments

INVESTMENTS - Other Investments (Details) - Non-Oaktree funds - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investment [Line Items]
Realized gain (loss)	$ 1,808	$ 1,372	$ 2,838
Net change in unrealized gain (loss)	7,380	(1,160)	(15,911)
Total	$ 9,188	$ 212	$ (13,073)

INVESTMENTS - Investments, at F

INVESTMENTS - Investments, at Fair Value (Detail) - Consolidated Funds - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Schedule Of Investments In Marketable Securities [Line Items]
Total investments, at fair value	$ 3,808,234	$ 45,179,906
Total investments, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	100.00%	100.00%
Securities Sold Short:	$ (41,016)	$ (91,246)
Proceeds from securities sold short	41,541	102,236
Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 3,672,118	$ 17,680,144
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	96.40%	39.20%
Equity securities:
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 136,116	$ 27,499,762
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	3.60%	60.80%
Securities Sold Short:	$ (41,016)	$ (91,246)
United States:
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities cost	5,462	13,290,699
Debt securities, cost	2,378,759	15,304,870
United States: | Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 2,392,717	$ 13,008,057
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	62.90%	28.80%
United States: | Debt securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 628,621	$ 3,387,072
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	16.50%	7.50%
United States: | Debt securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 123,395	$ 686,071
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	3.20%	1.50%
United States: | Debt securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 55,655	$ 854,220
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	1.50%	1.90%
United States: | Debt securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 182,685	$ 1,293,508
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	4.80%	2.90%
United States: | Debt securities: | Government
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 5,234	$ 95,508
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	0.10%	0.20%
United States: | Debt securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 337,138	$ 1,135,799
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	8.90%	2.50%
United States: | Debt securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 379,122	$ 1,710,706
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	10.00%	3.80%
United States: | Debt securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 272,637	$ 1,293,815
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	7.20%	2.90%
United States: | Debt securities: | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 237,417	$ 1,393,521
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	6.20%	3.10%
United States: | Debt securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 93,893	$ 471,711
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	2.50%	1.00%
United States: | Debt securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 76,920	$ 686,126
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	2.00%	1.50%
United States: | Equity securities:
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 7,725	$ 15,080,291
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.20%	33.30%
United States: | Equity securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 711	$ 1,813,832
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	4.00%
United States: | Equity securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 872,472
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	1.90%
United States: | Equity securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 2,002	$ 1,810,290
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.10%	4.00%
United States: | Equity securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 3,977	$ 7,639,790
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.10%	16.90%
United States: | Equity securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 343	$ 92,866
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.20%
United States: | Equity securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 1	$ 1,728,086
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	3.80%
United States: | Equity securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 67,253
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.20%
United States: | Equity securities: | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 691	$ 882,366
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	2.00%
United States: | Equity securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 16,471
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.00%
United States: | Equity securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 156,865
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.30%
Europe:
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities cost	$ 1,494	$ 7,627,245
Debt securities, cost	1,214,068	4,207,531
Europe: | Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 1,226,100	$ 3,709,217
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	32.10%	8.20%
Europe: | Debt securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 374,627	$ 1,329,387
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	9.80%	2.90%
Europe: | Debt securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 92,750	$ 222,789
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	2.40%	0.50%
Europe: | Debt securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 13,274	$ 144,742
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	0.30%	0.30%
Europe: | Debt securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 13,822	$ 808,568
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	0.40%	1.80%
Europe: | Debt securities: | Government
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 1,996	$ 46,946
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	0.10%	0.10%
Europe: | Debt securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 210,078	$ 197,569
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	5.50%	0.50%
Europe: | Debt securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 54,578	$ 291,950
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	1.40%	0.70%
Europe: | Debt securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 23,832	$ 71,168
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	0.60%	0.20%
Europe: | Debt securities: | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 226,961	$ 377,460
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	6.00%	0.80%
Europe: | Debt securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 214,182	$ 200,610
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	5.60%	0.40%
Europe: | Debt securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 0	$ 18,028
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	0.00%	0.00%
Europe: | Equity securities:
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 1,605	$ 9,122,229
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	20.20%
Europe: | Equity securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 270,370
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.60%
Europe: | Equity securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 145,108
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.30%
Europe: | Equity securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 21,791
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.00%
Europe: | Equity securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 1,605	$ 6,239,424
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	13.80%
Europe: | Equity securities: | Government
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 40,290
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.10%
Europe: | Equity securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 79,582
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.20%
Europe: | Equity securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 1,499,142
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	3.30%
Europe: | Equity securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 1,646
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.00%
Europe: | Equity securities: | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 475,306
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	1.10%
Europe: | Equity securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 4,834
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.00%
Europe: | Equity securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 344,736
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.80%
Asia and other:
Schedule Of Investments In Marketable Securities [Line Items]
Equity securities cost	$ 118,292	$ 3,370,406
Debt securities, cost	57,400	1,090,867
Asia and other: | Debt securities:
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 53,301	$ 962,870
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	1.40%	2.20%
Asia and other: | Debt securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 3,145	$ 102,531
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	0.10%	0.20%
Asia and other: | Debt securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 5,994	$ 33,061
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: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 9,570	$ 193,645
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	0.30%	0.40%
Asia and other: | Debt securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 0	$ 27,413
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: | Government
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 1,506	$ 6,974
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: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 1,245	$ 47,010
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: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 15,450	$ 268,710
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	0.40%	0.60%
Asia and other: | Debt securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 409	$ 31,983
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: | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 10,245	$ 248,830
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	0.30%	0.60%
Asia and other: | Debt securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 4,809	$ 0
Fixed income securities, Fair value as a percentage of investments of consolidated funds (as a percent)	0.10%	0.00%
Asia and other: | Debt securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Fixed income securities, Fair Value	$ 928	$ 2,713
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, Fair Value	$ 126,786	$ 3,297,242
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	3.40%	7.30%
Asia and other: | Equity securities: | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 7,639	$ 506,761
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.20%	1.10%
Asia and other: | Equity securities: | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 3,786	$ 29,863
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.10%	0.10%
Asia and other: | Equity securities: | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 6,978	$ 192,844
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.20%	0.40%
Asia and other: | Equity securities: | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 44,328	$ 986,753
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	1.20%	2.20%
Asia and other: | Equity securities: | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 18,535
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.00%	0.10%
Asia and other: | Equity securities: | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 21,564	$ 1,032,225
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.60%	2.30%
Asia and other: | Equity securities: | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 16,642	$ 244,433
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.40%	0.50%
Asia and other: | Equity securities: | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 19,697	$ 96,326
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.50%	0.20%
Asia and other: | Equity securities: | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 4,296	$ 34,678
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.10%	0.10%
Asia and other: | Equity securities: | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 1,856	$ 154,824
Equity Securities, Fair value as a percentage of investments of consolidated funds as of December 31, (as a percent)	0.10%	0.30%

INVESTMENTS - Additional Inform

INVESTMENTS - Additional Information (Detail)	Dec. 31, 2016
DoubleLine
Schedule of Equity Method Investments [Line Items]
Ownership percentage	20.00%
Maximum
Schedule of Equity Method Investments [Line Items]
Ownership percentage	2.50%

INVESTMENTS - Net Gains (Losses

INVESTMENTS - Net Gains (Losses) from Investment Activities of Consolidated Funds (Detail) - Consolidated Funds - Not Designated as Hedging Instrument - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	$ 27,593	$ 1,177,150	$ 2,131,584
Net Change in Unrealized Appreciation (Depreciation) on Investments	(12,453)	(3,767,527)	(993,260)
Investments and other financial instruments
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	30,718	895,271	1,937,061
Net Change in Unrealized Appreciation (Depreciation) on Investments	109,398	(3,602,437)	(1,080,571)
Measurement guidance for CLO liabilities
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	0	0	0
Net Change in Unrealized Appreciation (Depreciation) on Investments	(120,702)	0	0
Foreign-currency forward contracts
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	521	457,594	179,675
Net Change in Unrealized Appreciation (Depreciation) on Investments	264	(98,420)	278,647
Total-return and interest-rate swaps
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	(2,353)	(215,837)	54,437
Net Change in Unrealized Appreciation (Depreciation) on Investments	(1,416)	(38,658)	(193,079)
Options and futures
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	(1,293)	43,055	(38,431)
Net Change in Unrealized Appreciation (Depreciation) on Investments	3	(30,198)	6,513
Swaptions
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	0	(2,933)	(1,158)
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ 0	$ 2,186	$ (4,770)

FAIR VALUE - Financial Instrume

FAIR VALUE - Financial Instruments by Fair-value Hierarchy Level (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 16,499	$ 204,226
Derivative liabilities	(8,951)	(304,437)
Oaktree Capital Group Excluding Consolidated Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury and time deposit securities	757,578	661,116
Corporate investments	1,123,732	213,988	$ 187,963
Derivative liabilities	(7,865)	(4,229)
Oaktree Capital Group Excluding Consolidated Funds | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(60)	(943)
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	875,934	734,617
Total liabilities	31,432	32,723
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	(23,567)	(28,494)
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Foreign-currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	16,142	5,875
Derivative liabilities	(7,805)	(3,286)
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(60)	(943)
Oaktree Capital Group Excluding Consolidated Funds | 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 time deposit securities	757,578	661,116
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Corporate investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate investments	102,214	67,626
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	757,578	661,116
Total liabilities	0	0
Oaktree Capital Group Excluding Consolidated Funds | 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
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Foreign-currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Oaktree Capital Group Excluding Consolidated Funds | 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
Oaktree Capital Group Excluding Consolidated Funds | 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 time deposit securities	757,578	661,116
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Corporate investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate investments	0	0
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	43,693	47,751
Total liabilities	7,865	4,229
Oaktree Capital Group Excluding Consolidated Funds | 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
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Foreign-currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	16,142	5,875
Derivative liabilities	(7,805)	(3,286)
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Foreign-currency forward contracts | Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	5,377
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Interest-rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(60)	(943)
Oaktree Capital Group Excluding Consolidated Funds | 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 time deposit securities	0	0
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Corporate investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate investments	27,551	41,876
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	74,663	25,750
Total liabilities	23,567	28,494
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Contingent consideration
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	(23,567)	(28,494)
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Foreign-currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	0	0
Derivative liabilities	0	0
Oaktree Capital Group Excluding Consolidated Funds | 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
Oaktree Capital Group Excluding Consolidated Funds | 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 time deposit securities	0	0
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Corporate investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Corporate investments	$ 74,663	$ 25,750

FAIR VALUE FAIR VALUE - Changes

FAIR VALUE FAIR VALUE - Changes in Fair Value (Details) - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 25,750	$ 0	$ 0
Contributions or additions	43,521	25,750	0
Distributions	(1,470)	0	0
Net gain (loss) included in earnings	6,862	0	0
Ending balance	74,663	25,750	0
Net change in unrealized gains (losses) attributable to financial instruments still held at end of period	5,913	0	0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(28,494)	(27,245)	0
Contributions or additions	0	0	(25,559)
Distributions	0	0	0
Net gain (loss) included in earnings	4,927	(1,249)	(1,686)
Ending balance	(23,567)	(28,494)	(27,245)
Net change in unrealized gains (losses) attributable to financial instruments still held at end of period	$ 4,927	$ (1,249)	$ (1,686)

FAIR VALUE FAIR VALUE - Valuati

FAIR VALUE FAIR VALUE - Valuation Technique (Details) - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	$ 107,591	$ 67,626
Corporate Investment - Limited Partnership Interests | Market approach (value of underlying assets) | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	74,663	25,750
Contingent consideration | Discounted cash flow | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent consideration liability	$ 23,567	$ 28,494
Contingent consideration | Discounted cash flow | Level III | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	0.00%
Contingent consideration | Discounted cash flow | Level III | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	100.00%
Contingent consideration | Discounted cash flow | Level III | Weighted average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	45.00%

FAIR VALUE - Valuation of Inves

FAIR VALUE - Valuation of Investments and Other Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	$ 16,499	$ 204,226
Derivative liabilities, at fair value	(8,951)	(304,437)
Consolidated Funds
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	3,808,234	45,179,906
Derivative assets, at fair value	357	198,351
Securities sold short – equities	(41,016)	(91,246)
Derivative liabilities, at fair value	(1,086)	(300,208)
Consolidated Funds | Equity securities:
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Securities sold short – equities	(41,016)	(91,246)
Consolidated Funds | Swaptions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value		14
Consolidated Funds | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value		25,559
Derivative liabilities, at fair value		(4,234)
Consolidated Funds | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments		27,217,707
Consolidated Funds | Fair Value, Measurements, Recurring
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	3,808,234	45,179,906
Derivative assets, at fair value	357	198,351
Total assets	3,808,591	45,378,257
Derivative liabilities, at fair value	(1,086)	(300,208)
Total liabilities	(3,096,312)	(391,454)
Consolidated Funds | Fair Value, Measurements, Recurring | Equity securities:
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Securities sold short – equities	(41,016)	(91,246)
Consolidated Funds | Fair Value, Measurements, Recurring | CLO Debt Obligations [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(3,054,210)	0
Consolidated Funds | Fair Value, Measurements, Recurring | CLO Debt Obligations [Member] | Senior Notes
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(2,953,880)	0
Consolidated Funds | Fair Value, Measurements, Recurring | CLO Debt Obligations [Member] | Subordinated Debt [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(100,330)	0
Consolidated Funds | Fair Value, Measurements, Recurring | Foreign-currency forward contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	216	156,234
Derivative liabilities, at fair value	(4)	(64,364)
Consolidated Funds | Fair Value, Measurements, Recurring | Swaps
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	141	16,544
Derivative liabilities, at fair value	(1,082)	(231,610)
Consolidated Funds | Fair Value, Measurements, Recurring | Swaptions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	14
Consolidated Funds | Fair Value, Measurements, Recurring | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	25,559
Derivative liabilities, at fair value	0	(4,234)
Consolidated Funds | Fair Value, Measurements, Recurring | Corporate debt – bank debt
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	3,182,350	9,763,304
Consolidated Funds | Fair Value, Measurements, Recurring | Corporate debt – all other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	489,768	7,916,840
Consolidated Funds | Fair Value, Measurements, Recurring | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	136,116	13,822,228
Consolidated Funds | Fair Value, Measurements, Recurring | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	1,363,542
Consolidated Funds | Fair Value, Measurements, Recurring | Real estate
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	9,716,587
Consolidated Funds | Fair Value, Measurements, Recurring | Real estate loan portfolios
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	2,597,405
Consolidated Funds | Fair Value, Measurements, Recurring | Level I
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	129,362	4,903,189
Derivative assets, at fair value	0	0
Total assets	129,362	4,903,189
Derivative liabilities, at fair value	0	(88)
Total liabilities	(41,016)	(91,334)
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Equity securities:
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Securities sold short – equities	(41,016)	(91,246)
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | CLO Debt Obligations [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | CLO Debt Obligations [Member] | Senior Notes
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | CLO Debt Obligations [Member] | Subordinated Debt [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Foreign-currency forward contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	0
Derivative liabilities, at fair value	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Swaps
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	0
Derivative liabilities, at fair value	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Swaptions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	0
Derivative liabilities, at fair value	0	(88)
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Corporate debt – bank debt
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Corporate debt – all other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	5,450
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	129,362	4,836,422
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Real estate
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	61,317
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Real estate loan portfolios
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level II
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	3,434,518	13,050,759
Derivative assets, at fair value	357	198,351
Total assets	3,434,875	13,249,110
Derivative liabilities, at fair value	(1,086)	(291,869)
Total liabilities	(3,055,296)	(291,869)
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Equity securities:
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Securities sold short – equities	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | CLO Debt Obligations [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(3,054,210)	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | CLO Debt Obligations [Member] | Senior Notes
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(2,953,880)	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | CLO Debt Obligations [Member] | Subordinated Debt [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(100,330)	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Foreign-currency forward contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	216	156,234
Derivative liabilities, at fair value	(4)	(64,364)
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Swaps
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	141	16,544
Derivative liabilities, at fair value	(1,082)	(223,359)
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Swaptions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	14
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	25,559
Derivative liabilities, at fair value	0	(4,146)
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Corporate debt – bank debt
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	2,973,482	7,891,929
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Corporate debt – all other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	460,975	4,902,226
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	61	256,604
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Real estate
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Real estate loan portfolios
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	244,354	27,225,958
Derivative assets, at fair value	0	0
Total assets	244,354	27,225,958
Derivative liabilities, at fair value	0	(8,251)
Total liabilities	0	(8,251)
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Equity securities:
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Securities sold short – equities	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | CLO Debt Obligations [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | CLO Debt Obligations [Member] | Senior Notes
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | CLO Debt Obligations [Member] | Subordinated Debt [Member]
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Foreign-currency forward contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	0
Derivative liabilities, at fair value	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Swaps
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	0
Derivative liabilities, at fair value	0	(8,251)
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Swaptions
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	0
Derivative liabilities, at fair value	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Corporate debt – bank debt
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	208,868	1,871,375
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Corporate debt – all other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	28,793	3,009,164
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	6,693	8,729,202
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	1,363,542
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Real estate
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	9,655,270
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Real estate loan portfolios
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	$ 0	$ 2,597,405

FAIR VALUE - Summary of Changes

FAIR VALUE - Summary of Changes in Fair Value of Level III Investments (Detail) - Consolidated Funds - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		$ (27,012,584)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(27,012,584)
Fair Value, Net Asset (Liability) Measured On Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Beginning balance	$ 27,217,707	26,291,698
Cumulative-effect adjustment from adoption of accounting guidance		(27,012,584)
Transfers into Level III	86,964	1,341,462
Transfers out of Level III	(43,728)	(1,979,216)
Purchases	49,222	7,042,682
Sales	(60,529)	(6,048,423)
Realized gains (losses), net	391	1,270,870
Unrealized appreciation (depreciation), net	6,911	(701,366)
Ending balance	244,354	27,217,707
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	6,788	(94,884)
Corporate Debt – Bank Debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,871,375	1,555,656
Cumulative-effect adjustment from adoption of accounting guidance		(1,672,305)
Transfers into Level III	83,218	364,501
Transfers out of Level III	(43,728)	(199,119)
Purchases	21,259	684,359
Sales	(57,659)	(493,438)
Realized gains (losses), net	389	16,245
Unrealized appreciation (depreciation), net	6,319	(56,829)
Ending balance	208,868	1,871,375
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	6,196	(43,305)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(1,672,305)
Fair Value, Net Asset (Liability) Measured On Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(1,672,305)
Corporate Debt – All Other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	3,009,164	2,750,661
Cumulative-effect adjustment from adoption of accounting guidance		(3,007,287)
Transfers into Level III	657	248,824
Transfers out of Level III		(246,615)
Purchases	26,662	1,267,168
Sales	(219)	(584,756)
Realized gains (losses), net	2	(4,670)
Unrealized appreciation (depreciation), net	(186)	(421,448)
Ending balance	28,793	3,009,164
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(186)	(340,883)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(3,007,287)
Fair Value, Net Asset (Liability) Measured On Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(3,007,287)
Equities – Common Stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	8,729,202	9,044,579
Cumulative-effect adjustment from adoption of accounting guidance		(8,725,026)
Transfers into Level III	3,089	570,137
Transfers out of Level III		(1,427,473)
Purchases	1,301	1,706,683
Sales	(2,651)	(1,315,766)
Realized gains (losses), net		125,637
Unrealized appreciation (depreciation), net	778	25,405
Ending balance	6,693	8,729,202
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	778	(33,299)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(8,725,026)
Fair Value, Net Asset (Liability) Measured On Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(8,725,026)
Equities – Preferred Stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,363,542	1,320,752
Cumulative-effect adjustment from adoption of accounting guidance		(1,363,542)
Transfers into Level III	0	15,835
Transfers out of Level III		(32,692)
Purchases		203,077
Sales		(305,917)
Realized gains (losses), net		81,037
Unrealized appreciation (depreciation), net		81,450
Ending balance	0	1,363,542
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	0	169,799
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(1,363,542)
Fair Value, Net Asset (Liability) Measured On Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(1,363,542)
Real Estate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	9,655,270	9,216,056
Cumulative-effect adjustment from adoption of accounting guidance		(9,655,270)
Transfers into Level III	0	142,165
Transfers out of Level III		(61,317)
Purchases		1,973,704
Sales		(2,242,760)
Realized gains (losses), net		766,400
Unrealized appreciation (depreciation), net		(138,978)
Ending balance	0	9,655,270
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	0	342,560
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(9,655,270)
Fair Value, Net Asset (Liability) Measured On Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(9,655,270)
Real Estate Loan Portfolio
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	2,597,405	2,399,105
Cumulative-effect adjustment from adoption of accounting guidance		(2,597,405)
Transfers into Level III	0	0
Transfers out of Level III		0
Purchases		1,207,691
Sales		(1,100,273)
Realized gains (losses), net		283,074
Unrealized appreciation (depreciation), net		(192,192)
Ending balance	0	2,597,405
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	0	(192,192)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(2,597,405)
Fair Value, Net Asset (Liability) Measured On Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		(2,597,405)
Swaps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		8,251
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(8,251)	(10,687)
Cumulative-effect adjustment from adoption of accounting guidance		8,251
Transfers into Level III	0	0
Transfers out of Level III		0
Purchases		0
Sales		0
Realized gains (losses), net		0
Unrealized appreciation (depreciation), net		2,436
Ending balance	0	(8,251)
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	0	2,436
Fair Value, Net Asset (Liability) Measured On Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		8,251
Other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	0	15,576
Cumulative-effect adjustment from adoption of accounting guidance		0
Transfers into Level III	0	0
Transfers out of Level III		(12,000)
Purchases		0
Sales		(5,513)
Realized gains (losses), net		3,147
Unrealized appreciation (depreciation), net		(1,210)
Ending balance	0	0
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$ 0	0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		0
Fair Value, Net Asset (Liability) Measured On Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance		$ 0

FAIR VALUE - Additional Informa

FAIR VALUE - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016USD ($)investment	Dec. 31, 2015loaninvestment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of investments that changed valuation technique		10
Market approach (comparable companies) | Equity securities: | Value of company's underlying assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of investments that changed valuation technique		1
Market approach (comparable companies) | Equity securities: | Increased Availability of Broker Quotations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of investments that changed valuation technique		1
Market approach (comparable companies) | Credit-oriented investments: | Value of company's underlying assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of investments that changed valuation technique	1	3
Market approach (comparable companies) | Real estate-oriented investments: | Stabilization of Underlying Investments
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of investments that changed valuation technique		1
Discounted cash flow / Sales approach | Credit-oriented investments: | Decreased Focus On Issuer's Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of investments that changed valuation technique		1
Discounted cash flow / Sales approach | Credit-oriented investments: | Increased Focus On the Value Of Assets
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of investments that changed valuation technique		1
Number of loans | loan		10
Discounted cash flow | Real estate-oriented investments: | Offers From Potential Buyers
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of investments that changed valuation technique		1
Recent market information | Credit-oriented investments: | Decreased Availability Of Broker Quotations
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of investments that changed valuation technique		1
Consolidated Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Transfers from Level II to Level I | $	$ 0

FAIR VALUE - Summary of Valuati

FAIR VALUE - Summary of Valuation Techniques and Quantitative Information (Detail) - Consolidated Funds $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 3,808,234	$ 45,179,906
Level III
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		27,217,707
Level III | Credit-oriented investments: | Consumer discretionary | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 7,658	$ 289,107
Level III | Credit-oriented investments: | Consumer discretionary | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	5.00%	5.00%
Level III | Credit-oriented investments: | Consumer discretionary | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	13.00%	15.00%
Level III | Credit-oriented investments: | Consumer discretionary | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	7.00%	12.00%
Level III | Credit-oriented investments: | Consumer discretionary | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 64,147	$ 156,160
Level III | Credit-oriented investments: | Consumer discretionary | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 451,584
Level III | Credit-oriented investments: | Consumer discretionary | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		3
Level III | Credit-oriented investments: | Consumer discretionary | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		10
Level III | Credit-oriented investments: | Consumer discretionary | Market approach (comparable companies) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		6
Level III | Credit-oriented investments: | Consumer discretionary | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 232,995
Level III | Credit-oriented investments: | Financials | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 595,066
Level III | Credit-oriented investments: | Financials | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		6.00%
Level III | Credit-oriented investments: | Financials | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		14.00%
Level III | Credit-oriented investments: | Financials | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		11.00%
Level III | Credit-oriented investments: | Financials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 241,667
Level III | Credit-oriented investments: | Financials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		232,958
Level III | Credit-oriented investments: | Financials | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 259,669
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
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
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
Level III | Credit-oriented investments: | Consumer staples | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 7,356
Level III | Credit-oriented investments: | Consumer staples | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	6.00%
Level III | Credit-oriented investments: | Consumer staples | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	12.00%
Level III | Credit-oriented investments: | Consumer staples | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	7.00%
Level III | Credit-oriented investments: | Consumer staples | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 23,182
Level III | Credit-oriented investments: | Energy | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	12,758
Level III | Credit-oriented investments: | Industrials | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 10,574	$ 135,808
Level III | Credit-oriented investments: | Industrials | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	5.00%	5.00%
Level III | Credit-oriented investments: | Industrials | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	7.00%	15.00%
Level III | Credit-oriented investments: | Industrials | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	6.00%	13.00%
Level III | Credit-oriented investments: | Industrials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 30,531	$ 24,247
Level III | Credit-oriented investments: | Industrials | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 4,230	$ 7,549
Level III | Credit-oriented investments: | Industrials | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	5	5
Level III | Credit-oriented investments: | Industrials | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	7	9
Level III | Credit-oriented investments: | Industrials | Market approach (comparable companies) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	6	7
Level III | Credit-oriented investments: | Industrials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 45,647
Level III | Credit-oriented investments: | Industrials | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 219,121
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
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
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
Level III | Credit-oriented investments: | Industrials | Discounted cash flow / Sales approach
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 55,310
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)		9.00%
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)		11.00%
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)		10.00%
Level III | Credit-oriented investments: | Information technology | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 11,681	$ 199,841
Level III | Credit-oriented investments: | Information technology | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	6.00%	6.00%
Level III | Credit-oriented investments: | Information technology | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	13.00%	13.00%
Level III | Credit-oriented investments: | Information technology | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	9.00%	12.00%
Level III | Credit-oriented investments: | Information technology | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 5,076	$ 62,353
Level III | Credit-oriented investments: | Information technology | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 143,596
Level III | Credit-oriented investments: | Information technology | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		6
Level III | Credit-oriented investments: | Information technology | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		8
Level III | Credit-oriented investments: | Information technology | Market approach (comparable companies) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		7
Level III | Credit-oriented investments: | Information technology | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 63,594
Level III | Credit-oriented investments: | Materials | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 1,206	$ 417,749
Level III | Credit-oriented investments: | Materials | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	11.00%	11.00%
Level III | Credit-oriented investments: | Materials | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	13.00%	14.00%
Level III | Credit-oriented investments: | Materials | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	12.00%	14.00%
Level III | Credit-oriented investments: | Materials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 15,586	$ 71,174
Level III | Credit-oriented investments: | Materials | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 128,230
Level III | Credit-oriented investments: | Materials | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		7
Level III | Credit-oriented investments: | Materials | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		9
Level III | Credit-oriented investments: | Materials | Market approach (comparable companies) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		8
Level III | Credit-oriented investments: | Materials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 3,938
Level III | Credit-oriented investments: | Other | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 13,754	$ 442,797
Level III | Credit-oriented investments: | Other | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	8.00%	5.00%
Level III | Credit-oriented investments: | Other | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	16.00%	20.00%
Level III | Credit-oriented investments: | Other | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	12.00%	12.00%
Level III | Credit-oriented investments: | Other | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 9,137	$ 331,485
Level III | Credit-oriented investments: | Other | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	20,785	60,643
Level III | Equity investments: | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 1,352
Level III | Equity investments: | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	11.00%
Level III | Equity investments: | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	33.00%
Level III | Equity investments: | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	14.00%
Level III | Equity investments: | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 1,799
Level III | Equity investments: | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 3,542
Level III | Equity investments: | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	4
Level III | Equity investments: | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	11
Level III | Equity investments: | Market approach (comparable companies) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	8
Level III | Equity investments: | Financials | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 58,352
Level III | Equity investments: | Financials | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		14.00%
Level III | Equity investments: | Financials | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		16.00%
Level III | Equity investments: | Financials | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		15.00%
Level III | Equity investments: | Financials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 244,354
Level III | Equity investments: | Financials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 189,714
Level III | Equity investments: | Financials | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 1,029,904
Level III | Equity investments: | Financials | Market approach (value of underlying assets) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple		1
Level III | Equity investments: | Financials | Market approach (value of underlying assets) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple		1.5
Level III | Equity investments: | Financials | Market approach (value of underlying assets) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple		1.4
Level III | Equity investments: | Industrials | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 37,130
Level III | Equity investments: | Industrials | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		10.00%
Level III | Equity investments: | Industrials | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		12.00%
Level III | Equity investments: | Industrials | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		11.00%
Level III | Equity investments: | Industrials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 53,005
Level III | Equity investments: | Industrials | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 2,385,995
Level III | Equity investments: | Industrials | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		5
Level III | Equity investments: | Industrials | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		18
Level III | Equity investments: | Industrials | Market approach (comparable companies) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		9
Level III | Equity investments: | Industrials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 248,894
Level III | Equity investments: | Industrials | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 1,287,791
Level III | Equity investments: | Industrials | Market approach (value of underlying assets) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple		0.9
Level III | Equity investments: | Industrials | Market approach (value of underlying assets) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple		1
Level III | Equity investments: | Industrials | Market approach (value of underlying assets) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple		1
Level III | Equity investments: | Materials | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 1,238,760
Level III | Equity investments: | Materials | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		7
Level III | Equity investments: | Materials | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		9
Level III | Equity investments: | Materials | Market approach (comparable companies) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		8
Level III | Equity investments: | Materials | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 25,133
Level III | Equity investments: | Other | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		171,463
Level III | Equity investments: | Other | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 1,898,334
Level III | Equity investments: | Other | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		6
Level III | Equity investments: | Other | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		18
Level III | Equity investments: | Other | Market approach (comparable companies) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		10
Level III | Equity investments: | Other | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 221,350
Level III | Equity investments: | Other | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 164,026
Level III | Equity investments: | Other | Market approach (value of underlying assets) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple		1.1
Level III | Equity investments: | Other | Market approach (value of underlying assets) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple		1.3
Level III | Equity investments: | Other | Market approach (value of underlying assets) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Underlying asset multiple		1.2
Level III | Equity investments: | Utilities | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 616,596
Level III | Equity investments: | Utilities | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		8
Level III | Equity investments: | Utilities | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		11
Level III | Equity investments: | Utilities | Market approach (comparable companies) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		9
Level III | Equity investments: | Utilities | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 200,112
Level III | Equity investments: | Utilities | Other
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		266,185
Level III | Real estate-oriented investments: | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 3,863,639
Level III | Real estate-oriented investments: | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		6.00%
Terminal capitalization rate (as a percent)		0.05
Direct capitalization rate (as a percent)		0.05
Net operating income growth rate (as a percent)		0.00%
Absorption rate (as a percent)		25.00%
Level III | Real estate-oriented investments: | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		44.00%
Terminal capitalization rate (as a percent)		0.10
Direct capitalization rate (as a percent)		0.10
Net operating income growth rate (as a percent)		38.00%
Absorption rate (as a percent)		44.00%
Level III | Real estate-oriented investments: | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		13.00%
Terminal capitalization rate (as a percent)		0.07
Direct capitalization rate (as a percent)		0.07
Net operating income growth rate (as a percent)		10.00%
Absorption rate (as a percent)		30.00%
Level III | Real estate-oriented investments: | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 2,385,895
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%
Level III | Real estate-oriented investments: | Recent market information | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Quoted prices / discount (as a percent)		5.00%
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)		3.00%
Level III | Real estate-oriented investments: | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 218,817
Level III | Real estate-oriented investments: | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		9
Level III | Real estate-oriented investments: | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		11
Level III | Real estate-oriented investments: | Market approach (comparable companies) | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		11
Level III | Real estate-oriented investments: | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 512,120
Level III | Real estate-oriented investments: | Market approach (value of underlying assets)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 992,695
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
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
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
Level III | Real estate-oriented investments: | Other
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 164,046
Level III | Real estate-oriented investments: | Discounted cash flow / Sales approach
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 132,640
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%
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%
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%
Level III | Real estate-oriented investments: | Sales Approach
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 1,385,418
Level III | Real estate loan portfolios | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 2,101,463
Level III | Real estate loan portfolios | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		7.00%
Level III | Real estate loan portfolios | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		23.00%
Level III | Real estate loan portfolios | Discounted cash flow | Weighted average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		13.00%
Level III | Real estate loan portfolios | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 495,942

DERIVATIVES AND HEDGING - Addit

DERIVATIVES AND HEDGING - Additional Information (Details)	12 Months Ended
	Dec. 31, 2016USD ($)instrument	Dec. 31, 2015USD ($)instrument	Jul. 30, 2016USD ($)
Designated as Hedging Instrument | Interest-rate swaps | Cash Flow Hedging
Derivative [Line Items]
Number of interest-rate swap agreements (in instrument) | instrument	2	2
Variable rate term loan
Derivative [Line Items]
Face amount	$ 250,000,000
Oaktree Capital Group Excluding Consolidated Funds | Designated as Hedging Instrument | Interest-rate swaps | Cash Flow Hedging
Derivative [Line Items]
Number of interest-rate swap agreements (in instrument) | instrument	1
Oaktree Capital Group Excluding Consolidated Funds | Variable rate term loan
Derivative [Line Items]
Face amount			$ 250,000,000
Oaktree Capital Group Excluding Consolidated Funds | Senior Unsecured Credit Facility | Variable rate term loan
Derivative [Line Items]
Face amount	$ 250,000,000
Oaktree Capital Group Excluding Consolidated Funds | Senior Unsecured Credit Facility | Variable rate term loan | Designated as Hedging Instrument | Interest-rate swaps | Cash Flow Hedging
Derivative [Line Items]
Notional value of interest rate swap	150,000,000
Consolidated Funds | Foreign Currency Contracts - Long
Derivative [Line Items]
Average notional amount	14,400,000	$ 5,400,000,000
Consolidated Funds | Foreign Currency Contracts - Short
Derivative [Line Items]
Average notional amount	0	338,100,000
Consolidated Funds | Foreign Currency Contracts
Derivative [Line Items]
Gross unrealized appreciation	216,000	156,200,000
Gross unrealized depreciation	$ 4,000	$ 64,400,000

DERIVATIVES AND HEDGING - Cash

DERIVATIVES AND HEDGING - Cash Flow Hedges (Details) - Oaktree Capital Group Excluding Consolidated Funds - Not Designated as Hedging Instrument - Foreign-currency forward contracts € in Thousands, ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2016JPY (¥)	Dec. 31, 2016EUR (€)	Dec. 31, 2015JPY (¥)	Dec. 31, 2015EUR (€)
Derivative [Line Items]
Notional value	$ 396,924	$ 393,360
Market Amount in U.S. Dollars	388,587	390,771
Net Unrealized Appreciation (Depreciation)	8,337	2,589
Euro Member Countries, Euro
Derivative [Line Items]
Notional value	271,848	274,135		€ 242,100		€ 246,850
Market Amount in U.S. Dollars	257,652	269,603
Net Unrealized Appreciation (Depreciation)	14,196	4,532
United States of America, Dollars
Derivative [Line Items]
Notional value	72,565	70,594
Market Amount in U.S. Dollars	78,143	72,476
Net Unrealized Appreciation (Depreciation)	(5,578)	(1,882)
Japan, Yen
Derivative [Line Items]
Notional value	52,511	48,631	¥ 6,150,000		¥ 5,840,300
Market Amount in U.S. Dollars	52,792	48,692
Net Unrealized Appreciation (Depreciation)	$ (281)	$ (61)

DERIVATIVES AND HEDGING - Summa

DERIVATIVES AND HEDGING - Summary of Impact of Freestanding Derivative Instruments on Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Gains and losses from freestanding derivative instruments	$ (4,216)	$ 23,554	$ 34,326
Investment Income | Not Designated as Hedging Instrument | Foreign-currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains and losses from freestanding derivative instruments	4,630	0	2,554
General and Administrative Expense | Not Designated as Hedging Instrument | Foreign-currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gains and losses from freestanding derivative instruments	$ (8,846)	$ 23,554	$ 31,772

DERIVATIVES AND HEDGING - Conso

DERIVATIVES AND HEDGING - Consolidated Funds (Details) - Consolidated Funds - Not Designated as Hedging Instrument - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	$ (3,125)	$ 281,879	$ 194,523
Net Change in Unrealized Appreciation (Depreciation) on Investments	(1,149)	(165,090)	87,311
Foreign-currency forward contracts
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	521	457,594	179,675
Net Change in Unrealized Appreciation (Depreciation) on Investments	264	(98,420)	278,647
Total-return and interest-rate swaps
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	(2,353)	(215,837)	54,437
Net Change in Unrealized Appreciation (Depreciation) on Investments	(1,416)	(38,658)	(193,079)
Options and futures
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	(1,293)	43,055	(38,431)
Net Change in Unrealized Appreciation (Depreciation) on Investments	3	(30,198)	6,513
Swaptions
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	0	(2,933)	(1,158)
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ 0	$ 2,186	$ (4,770)

DERIVATIVES AND HEDGING - Forei

DERIVATIVES AND HEDGING - Foreign-currency Forward Contracts (Details) € in Thousands, ₩ in Thousands, ¥ in Thousands, ¥ in Thousands, £ in Thousands, SGD in Thousands, SFr in Thousands, SEK in Thousands, NZD in Thousands, HKD in Thousands, DKK in Thousands, CAD in Thousands, AUD in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2016USD ($)

Dec. 31, 2015USD ($)

Dec. 31, 2014USD ($)

Dec. 31, 2016GBP (£)

Dec. 31, 2016EUR (€)

Dec. 31, 2015DKK

Dec. 31, 2015CHF (SFr)

Dec. 31, 2015KRW (₩)

Dec. 31, 2015SGD

Dec. 31, 2015HKD

Dec. 31, 2015JPY (¥)

Dec. 31, 2015CAD

Dec. 31, 2015AUD

Dec. 31, 2015CNY (¥)

Dec. 31, 2015NZD

Dec. 31, 2015GBP (£)

Dec. 31, 2015SEK

Dec. 31, 2015EUR (€)

Derivative [Line Items]

Net Unrealized Appreciation (Depreciation)

$ (4,216)

$ 23,554

$ 34,326

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts:

Derivative [Line Items]

Notional

12,143

5,571,398

Market Amount in U.S. Dollars

11,931

5,479,528

Net Unrealized Appreciation (Depreciation)

212

91,870

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | Euro Member Countries, Euro

Derivative [Line Items]

Notional

10,997

2,630,690

€ 10,248

€ 2,383,537

Market Amount in U.S. Dollars

10,821

2,600,245

Net Unrealized Appreciation (Depreciation)

176

30,445

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | United Kingdom, Pounds

Derivative [Line Items]

Notional

1,146

2,135,175

£ 901

£ 1,401,289

Market Amount in U.S. Dollars

1,110

2,065,891

Net Unrealized Appreciation (Depreciation)

$ 36

69,284

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | Canada, Dollars

Derivative [Line Items]

Notional

35,279

CAD 46,505

Market Amount in U.S. Dollars

33,485

Net Unrealized Appreciation (Depreciation)

1,794

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | Australia, Dollars

Derivative [Line Items]

Notional

228,399

AUD 323,440

Market Amount in U.S. Dollars

234,428

Net Unrealized Appreciation (Depreciation)

(6,029)

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | Hong Kong, Dollars

Derivative [Line Items]

Notional

245

HKD 1,896

Market Amount in U.S. Dollars

245

Net Unrealized Appreciation (Depreciation)

0

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | Japan, Yen

Derivative [Line Items]

Notional

62,040

¥ 7,651,169

Market Amount in U.S. Dollars

63,709

Net Unrealized Appreciation (Depreciation)

(1,669)

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | Switzerland, Francs

Derivative [Line Items]

Notional

493

SFr 481

Market Amount in U.S. Dollars

481

Net Unrealized Appreciation (Depreciation)

12

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | Singapore, Dollars

Derivative [Line Items]

Notional

1,753

SGD 2,444

Market Amount in U.S. Dollars

1,722

Net Unrealized Appreciation (Depreciation)

31

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | South Korea, Won

Derivative [Line Items]

Notional

132,553

₩ 151,173,334

Market Amount in U.S. Dollars

128,757

Net Unrealized Appreciation (Depreciation)

3,796

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | New Zealand, Dollars

Derivative [Line Items]

Notional

178,371

NZD 284,364

Market Amount in U.S. Dollars

193,723

Net Unrealized Appreciation (Depreciation)

(15,352)

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | Denmark, Kroner

Derivative [Line Items]

Notional

54,167

DKK 362,000

Market Amount in U.S. Dollars

53,316

Net Unrealized Appreciation (Depreciation)

851

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | China, Yuan

Derivative [Line Items]

Notional

74,667

¥ 466,187

Market Amount in U.S. Dollars

71,220

Net Unrealized Appreciation (Depreciation)

3,447

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | Sweden, Kronor

Derivative [Line Items]

Notional

11

SEK 145

Market Amount in U.S. Dollars

(17)

Net Unrealized Appreciation (Depreciation)

6

Consolidated Funds | Not Designated as Hedging Instrument | Foreign-currency Forward Contracts: | United States of America, Dollars

Derivative [Line Items]

Notional

37,577

€ 32,547

Market Amount in U.S. Dollars

32,323

Net Unrealized Appreciation (Depreciation)

$ 5,254

DERIVATIVES AND HEDGING - Balan

DERIVATIVES AND HEDGING - Balance Sheet Offsetting (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Derivative Assets:
Net Amounts of Assets Presented	$ 16,499	$ 204,226
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	7,950	50,285
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	8,549	153,941
Derivative Liabilities:
Derivative liabilities	(8,951)	(304,437)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(7,950)	(50,285)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	(941)	(202,765)
Net Amount	(60)	(51,387)
Oaktree Capital Group Excluding Consolidated Funds
Derivative Liabilities:
Derivative liabilities	(7,865)	(4,229)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(7,805)	(2,047)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	0	0
Net Amount	(60)	(2,182)
Oaktree Capital Group Excluding Consolidated Funds | Foreign-currency forward contracts
Derivative Assets:
Net Amounts of Assets Presented	16,142	5,875
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	7,805	2,047
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	8,337	3,828
Derivative Liabilities:
Derivative liabilities	(7,805)	(3,286)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(7,805)	(2,047)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	0	0
Net Amount	0	(1,239)
Oaktree Capital Group Excluding Consolidated Funds | Interest-rate swaps
Derivative Liabilities:
Derivative liabilities	(60)	(943)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)		0
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	0	0
Net Amount	(60)	(943)
Consolidated Funds
Derivative Assets:
Net Amounts of Assets Presented	357	198,351
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	145	48,238
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	212	150,113
Derivative Liabilities:
Derivative liabilities	(1,086)	(300,208)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(145)	(48,238)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	(941)	(202,765)
Net Amount	0	(49,205)
Consolidated Funds | Foreign-currency forward contracts
Derivative Assets:
Net Amounts of Assets Presented	216	156,234
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	4	38,033
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	212	118,201
Derivative Liabilities:
Derivative liabilities	(4)	(64,364)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(4)	(38,788)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	0	0
Net Amount	0	(25,576)
Consolidated Funds | Total-return and interest-rate swaps
Derivative Assets:
Net Amounts of Assets Presented	141	16,544
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	141	4,526
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	0	12,018
Derivative Liabilities:
Derivative liabilities	(1,082)	(231,610)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(141)	(5,304)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	(941)	(202,677)
Net Amount	$ 0	(23,629)
Consolidated Funds | Options and futures
Derivative Assets:
Net Amounts of Assets Presented		25,559
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets		5,665
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received		0
Net Amount		19,894
Derivative Liabilities:
Derivative liabilities		(4,234)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)		(4,146)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)		(88)
Net Amount		0
Consolidated Funds | Swaptions
Derivative Assets:
Net Amounts of Assets Presented		14
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets		14
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received		0
Net Amount		$ 0

FIXED ASSETS (Details)

FIXED ASSETS (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Impairment charge for existing airplane	$ 4,400
Fixed assets		$ 138,422	$ 75,661
Accumulated depreciation		(45,344)	(36,394)
Fixed assets, net		93,078	39,267
Furniture, equipment and capitalized software
Property, Plant and Equipment [Line Items]
Fixed assets		18,771	16,820
Leasehold improvements
Property, Plant and Equipment [Line Items]
Fixed assets		49,626	43,107
Corporate aircraft
Property, Plant and Equipment [Line Items]
Fixed assets		66,277	12,439
Other
Property, Plant and Equipment [Line Items]
Fixed assets		$ 3,748	$ 3,295

GOODWILL AND INTANGIBLES (Detai

GOODWILL AND INTANGIBLES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 69,300	$ 69,300
Amortization expense	4,000	4,000	$ 1,700
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,017	4,000
2,018	4,000
2,019	4,000
2,020	4,000
2,021	2,300
Contractual rights
Finite-Lived Intangible Assets [Line Items]
Contractual rights	28,017	28,017
Accumulated amortization	(9,675)	(5,671)
Intangible assets, net	$ 18,342	$ 22,346

DEBT OBLIGATIONS AND CREDIT F83

DEBT OBLIGATIONS AND CREDIT FACILITIES - Debt Obligations (Detail) - USD ($)	Dec. 31, 2016	Jul. 30, 2016	Dec. 31, 2015
6.09% Senior Notes
Debt Instrument [Line Items]
Face amount	$ 50,000,000
Stated rate	6.09%
5.82% Senior Notes
Debt Instrument [Line Items]
Face amount	$ 50,000,000
Stated rate	5.82%
6.75% Senior Notes
Debt Instrument [Line Items]
Face amount	$ 250,000,000
Stated rate	6.75%
Variable rate term loan
Debt Instrument [Line Items]
Face amount	$ 250,000,000
3.91% Senior Notes
Debt Instrument [Line Items]
Face amount	$ 50,000,000
Stated rate	3.91%
4.01% Senior Notes
Debt Instrument [Line Items]
Face amount	$ 100,000,000
Stated rate	4.01%
4.21% Senior Notes
Debt Instrument [Line Items]
Face amount	$ 100,000,000
Stated rate	4.21%
Oaktree Capital Group Excluding Consolidated Funds
Debt Instrument [Line Items]
Total remaining principal	$ 750,000,000		$ 850,000,000
Less: Debt issuance costs	(4,103,000)		(3,646,000)
Debt obligations	745,897,000		846,354,000
Oaktree Capital Group Excluding Consolidated Funds | 6.09% Senior Notes
Debt Instrument [Line Items]
Total remaining principal	0		50,000,000
Oaktree Capital Group Excluding Consolidated Funds | 5.82% Senior Notes
Debt Instrument [Line Items]
Total remaining principal	0		50,000,000
Oaktree Capital Group Excluding Consolidated Funds | 6.75% Senior Notes
Debt Instrument [Line Items]
Total remaining principal	250,000,000		250,000,000
Oaktree Capital Group Excluding Consolidated Funds | Variable rate term loan
Debt Instrument [Line Items]
Total remaining principal	150,000,000		250,000,000
Face amount		$ 250,000,000
Oaktree Capital Group Excluding Consolidated Funds | 3.91% Senior Notes
Debt Instrument [Line Items]
Total remaining principal	50,000,000		50,000,000
Oaktree Capital Group Excluding Consolidated Funds | 4.01% Senior Notes
Debt Instrument [Line Items]
Total remaining principal	100,000,000		100,000,000
Oaktree Capital Group Excluding Consolidated Funds | 4.21% Senior Notes
Debt Instrument [Line Items]
Total remaining principal	100,000,000		100,000,000
Oaktree Capital Group Excluding Consolidated Funds | 3.69% Senior Notes
Debt Instrument [Line Items]
Total remaining principal	$ 100,000,000		$ 0

DEBT OBLIGATIONS AND CREDIT F84

DEBT OBLIGATIONS AND CREDIT FACILITIES - Future Principal Payments of Debt Obligations (Detail) - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
2,017	$ 0
2,018	0
2,019	250,000
2,020	0
2,021	150,000
Thereafter	350,000
Total	$ 750,000	$ 850,000

DEBT OBLIGATIONS AND CREDIT F85

DEBT OBLIGATIONS AND CREDIT FACILITIES - Additional Information (Detail)	1 Months Ended		12 Months Ended
	Jul. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Average borrowing rate			2.63%
6.09% Senior Notes
Debt Instrument [Line Items]
Stated rate			6.09%
Face amount			$ 50,000,000
5.82% Senior Notes
Debt Instrument [Line Items]
Stated rate			5.82%
Face amount			$ 50,000,000
Variable rate term loan
Debt Instrument [Line Items]
Face amount			250,000,000
Oaktree Capital Group Excluding Consolidated Funds | Senior notes
Debt Instrument [Line Items]
Repayments of debt			$ 100,000,000
Oaktree Capital Group Excluding Consolidated Funds | Revolving credit facility 2 | Revolver
Debt Instrument [Line Items]
Facility capacity		$ 500,000,000
Commitment fee payable on unused funds			0.125%
Maximum leverage ratio			3
Oaktree Capital Group Excluding Consolidated Funds | Revolving credit facility 2 | Senior unsecured credit facilities
Debt Instrument [Line Items]
Facility capacity			$ 500,000,000
Minimum required level of assets under management			60,000,000,000
Borrowings under credit facilities			$ 0
Oaktree Capital Group Excluding Consolidated Funds | Revolving credit facility 2 | LIBOR | Revolver
Debt Instrument [Line Items]
LIBOR margin			1.00%
Oaktree Capital Group Excluding Consolidated Funds | Level III
Debt Instrument [Line Items]
Fair value of debt obligations			$ 756,600,000	$ 855,300,000
Average borrowing rate			3.90%	3.70%
Increase in assumed borrowing rate			10.00%
Decrease in estimated fair value			$ 739,200,000
Decrease in assumed borrowing rate			10.00%
Increase in estimated fair value			$ 774,800,000
Oaktree Capital Group Excluding Consolidated Funds | Variable rate term loan
Debt Instrument [Line Items]
Repayments of debt	$ 100,000,000
Face amount	250,000,000
Oaktree Capital Group Excluding Consolidated Funds | 2.22% Term loan due 2021 | Term loan
Debt Instrument [Line Items]
Repayments of debt	$ 100,000,000
Stated rate			2.22%
Face amount		250,000,000
Balloon payment		$ 150,000,000
Extension term		1 year
Debt Instrument, Holding Percentage		50.00%
Oaktree Capital Management, L.P. | 3.69% Senior Notes | Senior notes
Debt Instrument [Line Items]
Stated rate	3.69%
Face amount	$ 100,000,000
Consolidated Funds
Debt Instrument [Line Items]
Borrowings under credit facilities			$ 483,956,000	$ 6,442,742,000
Consolidated Funds | Credit facilities
Debt Instrument [Line Items]
Borrowings under credit facilities			$ 488,997,000	6,462,762,000
Consolidated Funds | Senior notes
Debt Instrument [Line Items]
Senior notes, term			10 years
Consolidated Funds | Level III | Senior notes
Debt Instrument [Line Items]
Fair value of debt obligations				$ 3,700,000,000

DEBT OBLIGATIONS AND CREDIT F86

DEBT OBLIGATIONS AND CREDIT FACILITIES - Credit Facilities of Consolidated Funds (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.63%
Consolidated Funds
Debt Instrument [Line Items]
Borrowings under credit facilities	$ 483,956,000	$ 6,442,742,000
Debt obligations	3,054,210,000	2,330,359,000
Consolidated Funds | Credit facilities
Debt Instrument [Line Items]
Borrowings under credit facilities	0	2,381,324,000
Facility Capacity	$ 450,000,000
LIBOR margin	1.25%
Maturity	Apr. 19, 2019
Consolidated Funds | Revolving credit facilities
Debt Instrument [Line Items]
Borrowings under credit facilities	$ 0	2,718,394,000
Consolidated Funds | Senior variable rate notes
Debt Instrument [Line Items]
Borrowings under credit facilities	488,997,000	1,363,044,000
Facility Capacity	$ 489,000,000
Maturity	Oct. 20, 2027
Consolidated Funds | Total debt obligations
Debt Instrument [Line Items]
Borrowings under credit facilities	$ 488,997,000	6,462,762,000
Less: Debt issuance costs	(5,041,000)	(20,020,000)
Debt obligations	$ 483,956,000	$ 6,442,742,000

DEBT OBLIGATIONS AND CREDIT F87

DEBT OBLIGATIONS AND CREDIT FACILITIES - Collateralized Loan Obligation Loans Payable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Weighted Average Interest Rate	2.63%
Consolidated Funds
Debt Instrument [Line Items]
Debt obligations	$ 3,054,210	$ 2,330,359
Consolidated Funds | Collateralized Loan Obligations
Debt Instrument [Line Items]
Total remaining principal	3,054,210	2,355,060
Less: Debt issuance costs	0	(24,701)
Debt obligations	3,054,210	2,330,359
Consolidated Funds | Collateralized Loan Obligations | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		2,294,938
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 1
Debt Instrument [Line Items]
Total remaining principal	$ 471,603	$ 457,196
Weighted Average Interest Rate	2.90%	2.37%
Weighted Average Remaining Maturity	8 years 2 months 12 days	9 years 3 months 18 days
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 1 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 447,460
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 2
Debt Instrument [Line Items]
Total remaining principal	$ 470,298	$ 454,423
Weighted Average Interest Rate	3.03%	2.52%
Weighted Average Remaining Maturity	9 years 10 months 24 days	11 years
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 2 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 446,558
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 3
Debt Instrument [Line Items]
Total remaining principal	$ 49,336	$ 79,914
Weighted Average Interest Rate	3.31%	2.96%
Weighted Average Remaining Maturity	2 years	3 years
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 3 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 78,632
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 3 | Estimate of fair value | Minimum
Debt Instrument [Line Items]
Commitment fee payable on unused funds	0.00%
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 3 | Estimate of fair value | Maximum
Debt Instrument [Line Items]
Commitment fee payable on unused funds	2.00%
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 4
Debt Instrument [Line Items]
Total remaining principal	$ 357,706	$ 363,709
Weighted Average Interest Rate	1.73%	2.26%
Weighted Average Remaining Maturity	10 years 8 months 12 days	11 years 8 months 12 days
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 4 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 357,626
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 4 | Estimate of fair value | EURIBOR
Debt Instrument [Line Items]
Base rate floor	0.00%
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 5
Debt Instrument [Line Items]
Total remaining principal	$ 467,084	$ 455,295
Weighted Average Interest Rate	2.96%	2.54%
Weighted Average Remaining Maturity	11 years	12 years
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 5 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 448,933
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 6
Debt Instrument [Line Items]
Total remaining principal	$ 360,234	$ 361,142
Weighted Average Interest Rate	2.29%	2.29%
Weighted Average Remaining Maturity	11 years 3 months 15 days	12 years 3 months 18 days
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 6 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 359,914
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 7
Debt Instrument [Line Items]
Total remaining principal	$ 395,458
Weighted Average Interest Rate	2.28%
Weighted Average Remaining Maturity	12 years 4 months 24 days
Consolidated Funds | Collateralized Loan Obligations | Senior secured notes 8
Debt Instrument [Line Items]
Total remaining principal	$ 382,161
Weighted Average Interest Rate	1.99%
Weighted Average Remaining Maturity	13 years 2 months 12 days
Consolidated Funds | Collateralized Loan Obligations | Subordinated note 1
Debt Instrument [Line Items]
Total remaining principal	$ 12,281	$ 25,500
Weighted Average Remaining Maturity	9 years 10 months 24 days	11 years
Consolidated Funds | Collateralized Loan Obligations | Subordinated note 1 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 16,400
Consolidated Funds | Collateralized Loan Obligations | Subordinated note 2
Debt Instrument [Line Items]
Total remaining principal	$ 17,871	$ 21,183
Weighted Average Remaining Maturity	10 years 8 months 12 days	11 years 8 months 21 days
Consolidated Funds | Collateralized Loan Obligations | Subordinated note 2 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 15,876
Consolidated Funds | Collateralized Loan Obligations | Subordinated note 3
Debt Instrument [Line Items]
Total remaining principal	$ 18,432	$ 25,500
Weighted Average Remaining Maturity	11 years	12 years
Consolidated Funds | Collateralized Loan Obligations | Subordinated note 3 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 18,337
Consolidated Funds | Collateralized Loan Obligations | Subordinated note 4
Debt Instrument [Line Items]
Total remaining principal	$ 13,422	$ 17,924
Weighted Average Remaining Maturity	11 years 3 months 15 days	12 years 3 months 18 days
Consolidated Funds | Collateralized Loan Obligations | Subordinated note 4 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 11,928
Consolidated Funds | Collateralized Loan Obligations | Subordinated note 5
Debt Instrument [Line Items]
Total remaining principal	$ 17,073	$ 12,036
Weighted Average Remaining Maturity	12 years 4 months 24 days	1 year 7 months 6 days
Consolidated Funds | Collateralized Loan Obligations | Subordinated note 5 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 12,036
Consolidated Funds | Collateralized Loan Obligations | Subordinated note 6
Debt Instrument [Line Items]
Total remaining principal	$ 21,251
Weighted Average Remaining Maturity	13 years 2 months 12 days
Consolidated Funds | Collateralized Loan Obligations | Term loan 2
Debt Instrument [Line Items]
Total remaining principal		$ 81,238
Weighted Average Interest Rate		1.20%
Weighted Average Remaining Maturity		1 year 7 months 6 days
Consolidated Funds | Collateralized Loan Obligations | Term loan 2 | Estimate of fair value
Debt Instrument [Line Items]
Fair Value		$ 81,238

DEBT OBLIGATIONS AND CREDIT F88

DEBT OBLIGATIONS AND CREDIT FACILITIES - CLO Future principal payments (Details) - Consolidated Funds - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Assets	$ 3,400,000	$ 2,600,000
Debt obligations	3,054,210	2,330,359
Collateralized Loan Obligations
Debt Instrument [Line Items]
Debt obligations	3,054,210	$ 2,330,359
Secured Debt | Collateralized Loan Obligations
Debt Instrument [Line Items]
2,017	0
2,018	49,336
2,019	0
2,020	0
2,021	0
Thereafter	3,002,952
Debt obligations	$ 3,052,288

NON-CONTROLLING REDEEMABLE IN89

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS - Summary of Changes in Non-controlling Redeemable Interests in Consolidated Funds (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Non-Controlling Redeemable Interests in Consolidated Funds [Roll Forward]
Beginning balance	$ 38,173,125	$ 41,681,155	$ 38,834,831
Cumulative-effect adjustment from adoption of accounting guidance	(37,969,042)	0	0
Contributions	144,060	5,796,081	9,420,044
Distributions	(56,557)	(7,407,437)	(7,962,362)
Net income (loss)	20,988	(1,812,539)	1,647,753
Change in distributions payable	(4,227)	387,989	(528,051)
Change in accrued or deferred contributions	0	526	(26,760)
Initial consolidation of a fund	34,095	0	902,979
Foreign-currency translation and other	1,605	(472,650)	(607,279)
Ending balance	$ 344,047	$ 38,173,125	$ 41,681,155

UNITHOLDERS' CAPITAL - Addition

UNITHOLDERS' CAPITAL - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended												12 Months Ended
	Mar. 31, 2015USD ($)shares	Mar. 31, 2014USD ($)shares	Dec. 31, 2016USD ($)$ / sharesshares	Sep. 30, 2016$ / shares	Jun. 30, 2016$ / shares	Mar. 31, 2016$ / shares	Dec. 31, 2015USD ($)$ / sharesshares	Sep. 30, 2015$ / shares	Jun. 30, 2015$ / shares	Mar. 31, 2015$ / shares	Dec. 31, 2014USD ($)$ / sharesshares	Sep. 30, 2014$ / shares	Jun. 30, 2014$ / shares	Mar. 31, 2014$ / shares	Dec. 31, 2016USD ($)day$ / sharesshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Nov. 30, 2015shares	Dec. 31, 2013USD ($)shares
Class of Stock [Line Items]
Total unitholders’ capital | $			$ 1,885,171				$ 1,808,094				$ 1,840,130				$ 1,885,171	$ 1,808,094	$ 1,840,130		$ 1,708,378
OCGH Units
Class of Stock [Line Items]
Shares authorized for conversion																		12,998,725
Class A Units
Class of Stock [Line Items]
Unitholders' capital (in shares)			63,032,000				61,970,000				43,764,000				63,032,000	61,970,000	43,764,000		38,473,000
Lock-up period (in years)															3 years
Number of business days after earnings release | day															2
Shares eligible for sale																		1,100,000
Distribution Per Unit (in dollars per share) | $ / shares			$ 0.65	$ 0.58	$ 0.55	$ 0.47	$ 0.40	$ 0.5	$ 0.64	$ 0.56	$ 0.62	$ 0.55	$ 0.98	$ 1	$ 2.25	$ 2.1	$ 3.15
Issuance of units (in shares)	4,600,000,000	5,000,000													1,420,000	18,231,000	5,291,000
Proceeds from issuance of Class A units | $	$ 237,800	$ 296,700
OCGH
Class of Stock [Line Items]
Unitholders' capital (in shares)			91,758,067				91,937,873								91,758,067	91,937,873
Total unitholders’ capital | $			$ 1,040,274				$ 941,141								$ 1,040,274	$ 941,141
Oaktree Operating Group
Class of Stock [Line Items]
Subsidiary units outstanding (in shares)			154,790,343				153,907,733								154,790,343	153,907,733
Total unitholders’ capital | $			$ 1,754,882				$ 1,575,504								$ 1,754,882	$ 1,575,504
Equity Held by Third Parties
Class of Stock [Line Items]
Non-controlling interests in consolidated funds | $			$ 10,045				$ 102,789								$ 10,045	$ 102,789

UNITHOLDERS' CAPITAL - Summary

UNITHOLDERS' CAPITAL - Summary of Net Income (Loss) (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Weighted average Oaktree Operating Group units outstanding (in thousands):
Class A units outstanding (in shares)									62,565	49,324	42,582
Oaktree Operating Group net income:
Oaktree Operating Group net income:	$ 173,278	$ 168,823	$ 140,834	$ 83,168	$ (732,772)	$ (1,766,571)	$ (316,638)	$ 1,283,019	$ 566,103	$ (1,532,962)	$ 2,175,552
Net income attributable to Oaktree Capital Group, LLC:
Income tax expense of Intermediate Holding Companies									(42,519)	(17,549)	(18,536)
Net income attributable to Oaktree Capital Group, LLC	$ 59,283	$ 58,297	$ 49,047	$ 28,078	$ 11,395	$ 1,887	$ 19,814	$ 38,253	$ 194,705	$ 71,349	$ 126,283
OCGH non-controlling interest
Weighted average Oaktree Operating Group units outstanding (in thousands):
Class A units outstanding (in shares)									92,122	104,427	110,078
Oaktree Operating Group net income:
Oaktree Operating Group net income:									$ 343,781	$ 195,162	$ 386,398
Class A Unitholders
Weighted average Oaktree Operating Group units outstanding (in thousands):
Class A units outstanding (in shares)									62,565	49,324	42,582
Oaktree Operating Group net income:
Oaktree Operating Group net income:									$ 233,765	$ 87,620	$ 146,446
Oaktree Operating Group
Weighted average Oaktree Operating Group units outstanding (in thousands):
Class A units outstanding (in shares)									154,687	153,751	152,660
Oaktree Operating Group net income:
Oaktree Operating Group net income:									$ 577,546	$ 282,782	$ 532,844
Net income attributable to Oaktree Capital Group, LLC:
OCGH non-controlling interest									4,696	10,214	12,981
Oaktree Capital Group, LLC
Net income attributable to Oaktree Capital Group, LLC:
Oaktree Operating Group net income attributable to Class A unitholders									233,765	87,620	146,446
Non-Operating Group expenses									(1,176)	(2,097)	(1,645)
Income tax expense of Intermediate Holding Companies									(37,884)	(14,174)	(18,518)
Net income attributable to Oaktree Capital Group, LLC									$ 194,705	$ 71,349	$ 126,283

UNITHOLDERS' CAPITAL - Changes

UNITHOLDERS' CAPITAL - Changes in Company Ownership Interest (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Net income attributable to Oaktree Capital Group, LLC	$ 59,283	$ 58,297	$ 49,047	$ 28,078	$ 11,395	$ 1,887	$ 19,814	$ 38,253	$ 194,705	$ 71,349	$ 126,283
Equity reallocation between controlling and non-controlling interests									14,388	181,539	51,525
Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests									$ 209,093	$ 252,888	$ 177,808

EARNINGS PER UNIT - Computation

EARNINGS PER UNIT - Computations of Net Income Per Unit (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net income per Class A unit (basic and diluted):
Net income attributable to Oaktree Capital Group, LLC	$ 59,283	$ 58,297	$ 49,047	$ 28,078	$ 11,395	$ 1,887	$ 19,814	$ 38,253	$ 194,705	$ 71,349	$ 126,283
Weighted average number of Class A units outstanding (in shares)									62,565	49,324	42,582
Basic and diluted net income per Class A unit (in dollars per share)	$ 0.94	$ 0.93	$ 0.78	$ 0.45	$ 0.21	$ 0.04	$ 0.41	$ 0.85	$ 3.11	$ 1.45	$ 2.97

EARNINGS PER UNIT - Computati94

EARNINGS PER UNIT - Computations of Net Income Per Unit Additional information (Detail)	12 Months Ended
	Dec. 31, 2016shares
Highstar Capital
Earnings Per Share [Line Items]
Period of performance	7 years
OCGH Units
Earnings Per Share [Line Items]
Potential exchangeable units ratio	1
Common stock, shares outstanding (in shares)	91,758,067
Class A Units
Earnings Per Share [Line Items]
Potential exchangeable units ratio	1
OCGH Issued (in shares)	91,758,067

EQUITY-BASED COMPENSATION - Equ

EQUITY-BASED COMPENSATION - Equity-Based Compensation (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units outstanding (in shares)	2,337,953	2,265,967	5,070,992	4,465,722
Class A Units and OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested and unvested Class A and OCGH units issued and outstanding units (in shares)	154,790,343
2007 Plan | OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units authorized (in shares)	4,954,976
2011 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized units (in shares)	23,086,160
Units authorized (in shares)	9,363,365
2011 Plan | Equity Value Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units issued as of balance sheet date (in shares)	2,000,000
2011 Plan | Phantom Equity
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units issued as of balance sheet date (in shares)	36,387

EQUITY-BASED COMPENSATION - Cla

EQUITY-BASED COMPENSATION - Class A and OCGH Unit Awards (Details) $ in Millions	3 Months Ended	12 Months Ended			13 Months Ended	32 Months Ended
	Mar. 31, 2014	Dec. 31, 2016USD ($)companyshares	Dec. 31, 2015shares	Dec. 31, 2014shares	Apr. 30, 2014	Dec. 31, 2016USD ($)	Nov. 30, 2015shares
OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for conversion							12,998,725
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)		879,667
Units vesting periods		5 years
Unvested equity-based awards | $		$ 141.5				$ 141.5
Recognition period		4 years 1 month 6 days
Estimated time-to-liquidity assumption	5 years 6 months	5 years 7 months 6 days
Number of comparable publicly-owned alternative asset managers | company		6
OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)		879,667	1,175,213	1,770,418
OCGH Units | OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share exchange rate		1
Class A Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)		830,949
Class A Units | Class A Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share exchange rate		1
2007 Plan | OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Discount rate					25.00%	20.00%
Forfeiture rate, up to		3.00%

EQUITY-BASED COMPENSATION - Sum

EQUITY-BASED COMPENSATION - Summary of Unvested Equity-Based Awards and Changes (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Number of Units
Exchanged (in shares)		2,418,282
Weighted Average Grant Date Fair Value
Exchanged (in dollars per share)		$ 38.10
Class A Units
Number of Units
Beginning balance (in shares)	2,376,340	19,049	16,582
Granted (in shares)	830,949	7,940	7,164
Vested (in shares)	(997,039)	(50,931)	(4,697)
Exchanged (in shares)		2,418,282
Forfeited (in shares)	(81,850)	(18,000)	0
Ending balance (in shares)	2,128,400	2,376,340	19,049
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 38.18	$ 50.63	$ 45.34
Granted (in dollars per share)	46.79	55.75	58.88
Vested (in dollars per share)	37.71	40.11	44.54
Exchanged (in dollars per share)		38.10
Forfeited (in dollars per share)	35.63	42.29	0
Ending balance (in dollars per share)	$ 41.86	$ 38.18	$ 50.63
OCGH Units
Number of Units
Beginning balance (in shares)	2,265,967	5,070,992	4,465,722
Granted (in shares)	879,667	1,175,213	1,770,418
Vested (in shares)	(601,249)	(1,421,597)	(1,109,170)
Forfeited (in shares)	(206,432)	(140,359)	(55,978)
Ending balance (in shares)	2,337,953	2,265,967	5,070,992
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 40.70	$ 36.21	$ 30.30
Granted (in dollars per share)	35.96	44.04	43.98
Vested (in dollars per share)	39.18	32.38	24.90
Forfeited (in dollars per share)	34.60	35.68	34.42
Ending balance (in dollars per share)	$ 39.80	$ 40.70	$ 36.21

EQUITY-BASED COMPENSATION - E98

EQUITY-BASED COMPENSATION - Equity Value Units (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Equity Value Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognition period	3 years
Unrecognized share expense	$ 5.3
Discount rate	20.00%
Equity Value Units | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture rate	0.00%
Recapitalization percentage		33.33%
Equity Value Units, Equity Settled | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
EVUs outstanding (in shares)	1,000,000
Equity Value Units, Cash Settled | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
EVUs outstanding (in shares)	1,000,000

INCOME TAXES AND RELATED PAYM99

INCOME TAXES AND RELATED PAYMENTS - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)company	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Income Tax Disclosure [Abstract]
Number of wholly-owned subsidiaries (in company) | company	2
Total reserve	$ 8.9
Realized tax benefits	5.8
Income tax penalties and interest accrued	3.1	$ 1.5
Income tax penalties and interest expense		0.9
Income tax penalties and interest benefits	1.6	$ 0.9	$ 2.9
Decrease resulting from settlements with taxing authorities	$ 4.6

INCOME TAXES AND RELATED PAY100

INCOME TAXES AND RELATED PAYMENTS - Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
U.S. federal income tax	$ 10,268	$ 1,478	$ 4,128
State and local income tax	6,154	1,650	(372)
Foreign income tax	1,436	2,621	2,245
Current:	17,858	5,749	6,001
Deferred:
U.S. federal income tax	23,835	11,306	12,544
State and local income tax	2,110	786	1,836
Foreign income tax	(1,284)	(292)	(1,845)
Deferred:	24,661	11,800	12,535
Total:
U.S. federal income tax	34,103	12,784	16,672
State and local income tax	8,264	2,436	1,464
Foreign income tax	152	2,329	400
Income tax expense	$ 42,519	$ 17,549	$ 18,536

INCOME TAXES AND RELATED PAY101

INCOME TAXES AND RELATED PAYMENTS - Income Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Domestic income (loss) before income taxes									$ 623,712	$ (1,518,108)	$ 2,195,174
Foreign income (loss) before income taxes									(15,090)	2,695	(1,086)
Income (loss) before income taxes	$ 185,979	$ 177,390	$ 149,405	$ 95,848	$ (730,476)	$ (1,764,678)	$ (311,153)	$ 1,290,894	$ 608,622	$ (1,515,413)	$ 2,194,088

INCOME TAXES AND RELATED PAY102

INCOME TAXES AND RELATED PAYMENTS - Effective Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income tax expense at federal statutory rate	35.00%	35.00%	35.00%
Income passed through	(30.31%)	(35.91%)	(34.15%)
State and local taxes, net of federal benefit	1.28%	(0.17%)	0.05%
Foreign taxes	0.89%	(0.09%)	0.04%
Other, net	0.13%	0.01%	(0.10%)
Total effective rate	6.99%	(1.16%)	0.84%

INCOME TAXES AND RELATED PAY103

INCOME TAXES AND RELATED PAYMENTS - Income Tax Effects of Temporary Differences (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Investment in partnerships	$ 386,796	$ 414,142	$ 351,962
Equity-based compensation expense	4,449	3,773	5,514
Other, net	14,329	9,675	3,071
Total deferred tax assets	405,574	427,590	360,547
Total deferred tax liabilities	960	1,792	3,183
Net deferred tax assets before valuation allowance	404,614	425,798	357,364
Valuation allowance	0	0	0
Net deferred tax assets	$ 404,614	$ 425,798	$ 357,364

INCOME TAXES AND RELATED PAY104

INCOME TAXES AND RELATED PAYMENTS - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of period	$ 4,956	$ 5,575	$ 10,390
Additions for tax positions related to the current year	350	1,156	1,492
Additions for tax positions related to prior years	2,121	109	0
Reductions for tax positions related to prior years	(79)	0	(1,373)
Settlement of tax positions	0	0	(3,657)
Lapse of statute of limitations	(1,580)	(1,884)	(1,277)
Balance at end of period	$ 4,956	$ 5,575	$ 10,390	$ 5,768

INCOME TAXES AND RELATED PAY105

INCOME TAXES AND RELATED PAYMENTS - Tax Receivable Agreement (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2037	Dec. 31, 2036	Dec. 31, 2035	Dec. 31, 2034	Dec. 31, 2029
Tax Receivable Agreement [Line Items]
Percentage of cash savings (as a percent)	85.00%
Payments to unitholders under tax receivable agreement	$ 18.8	$ 15.7	$ 10.1
Scenario, Forecast
Tax Receivable Agreement [Line Items]
Payments to unitholders under TRA				$ 62.7	$ 74.5	$ 99	$ 71.3	$ 33.4

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details)	1 Months Ended	12 Months Ended
	Aug. 31, 2014USD ($)	Dec. 31, 2016USD ($)office	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Loss Contingencies [Line Items]
Accrued incentives (fund level)		$ 1,970,755,000	$ 1,540,469,000
Compensation expense related to accrued incentives (fund level)		1,026,345,000	750,077,000
Capital commitments		$ 565,400,000	469,400,000
Number of offices (in office) | office		17
Occupancy costs, including non-lease expenses		$ 22,637,000	19,305,000	$ 18,040,000
Consolidated Funds
Loss Contingencies [Line Items]
Commitments		2,100,000	1,300,000,000
Consolidated Funds | Guarantee repayment obligations of certain investee companies
Loss Contingencies [Line Items]
Financial support to portfolio companies		$ 0	142,400,000
Highstar Capital
Loss Contingencies [Line Items]
Contingent consideration, up to	$ 60,000,000
Period of performance		7 years
Contingent consideration		$ 23,600,000	28,500,000
Contingent consideration expense		$ 4,900,000	$ 1,200,000	$ 1,700,000

COMMITMENTS AND CONTINGENCIE107

COMMITMENTS AND CONTINGENCIES (Operating Leases) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2,017	$ 10,056
2,018	14,275
2,019	14,556
2,020	14,961
2,021	11,672
Thereafter	55,480
Total	$ 121,000

EMPLOYEE BENEFITS (Details)

EMPLOYEE BENEFITS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contribution expense	$ 8.8	$ 9.1	$ 7.8
Minimum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer matching contribution (as a percent)	4.50%
Maximum
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer matching contribution (as a percent)	13.20%

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Detail) - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Interest income		$ 906	$ 2,144	$ 1,440
Purchase option on airplane lease	$ 12,500
Level III
Related Party Transaction [Line Items]
Due to affiliates		164,335	160,952
Affiliated Entity
Related Party Transaction [Line Items]
Management fees and incentive income		$ 1,000,000	$ 75,200	$ 67,700
Discounted cash flow | Affiliated Entity | Level III
Related Party Transaction [Line Items]
Discount rate		10.00%
Minimum | Discounted cash flow | Affiliated Entity | Level III
Related Party Transaction [Line Items]
Average interest rate (as a percent)		2.00%
Maximum | Discounted cash flow | Affiliated Entity | Level III
Related Party Transaction [Line Items]
Average interest rate (as a percent)		3.00%

RELATED PARTY TRANSACTIONS - Am

RELATED PARTY TRANSACTIONS - Amounts Due from and Due to Affiliates (Detail) - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Due from affiliates:
Loans	$ 19,325	$ 29,718
Amounts due from unconsolidated funds	53,573	777
Management fees and incentive income due from unconsolidated funds	130,708	0
Payments made on behalf of unconsolidated entities	3,779	3,788
Non-interest bearing advances made to certain non-controlling interest holders and employees	1,258	1,616
Total due from affiliates	208,643	35,899
Due to affiliates:
Due to OCGH unitholders in connection with the tax receivable agreement (please see note 15)	340,966	356,851
Amounts due to senior executives, certain non-controlling interest holders and employees	5,577	0
Total due to affiliates	$ 346,543	$ 356,851

CAPITAL REQUIREMENTS OF REGU111

CAPITAL REQUIREMENTS OF REGULATED ENTITIES (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Regulatory Capital Requirements [Abstract]
Potential restricted amounts	$ 92.8	$ 71.3

SEGMENT REPORTING - Adjusted Ne

SEGMENT REPORTING - Adjusted Net Income (Detail) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Segment Reporting, Asset Reconciling Item [Line Items]
Number of segments (in segment) | segment									1
Revenues:
Management fees									$ 774,587	$ 195,308	$ 192,055
Incentive income									351,159	6,597	1,839
Total revenues	$ 298,310	$ 290,230	$ 282,716	$ 254,490	$ 49,108	$ 50,491	$ 51,487	$ 50,819	1,125,746	201,905	193,894
Expenses:
Compensation and benefits									(389,892)	(416,907)	(388,512)
Equity-based compensation									(63,724)	(54,381)	(41,395)
Incentive income compensation									(168,276)	(160,831)	(221,194)
General and administrative expenses									(145,430)	(110,677)	(99,835)
Depreciation and amortization expense									(16,222)	(14,022)	(8,003)
Total expenses	$ (210,165)	$ (202,339)	$ (191,648)	$ (185,184)	$ (268,487)	$ (190,518)	$ (245,929)	$ (235,974)	(789,336)	(940,908)	(947,477)
Interest expense, net of interest income									(120,610)	(216,799)	(129,942)
Other income (expense), net									13,490	20,006	3,018
Investment Management
Revenues:
Management fees									785,673	753,805	762,823
Incentive income									355,152	263,806	491,402
Investment income									221,377	48,253	117,662
Total revenues									1,362,202	1,065,864	1,371,887
Expenses:
Compensation and benefits									(381,937)	(404,442)	(379,360)
Equity-based compensation									(51,759)	(37,978)	(19,705)
Incentive income compensation									(169,683)	(141,822)	(231,871)
General and administrative expenses									(123,784)	(120,783)	(127,954)
Depreciation and amortization expense									(12,219)	(10,018)	(7,249)
Total expenses									(739,382)	(715,043)	(766,139)
Adjusted net income before interest and other income (expense)									622,820	350,821	605,748
Interest expense, net of interest income									(31,845)	(35,032)	(30,190)
Other income (expense), net									(8,392)	(3,927)	(2,431)
Adjusted net income									582,583	311,862	573,127
Interest income									$ 6,600	$ 5,100	$ 3,600

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation of Net Income (Loss) Attributable to Oaktree Capital Group, LLC to Adjusted Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting Information [Line Items]
Net income attributable to Oaktree Capital Group, LLC	$ 59,283	$ 58,297	$ 49,047	$ 28,078	$ 11,395	$ 1,887	$ 19,814	$ 38,253	$ 194,705	$ 71,349	$ 126,283
Investment income									199,126	51,958	33,695
Equity-based compensation									63,724	54,381	41,395
Income taxes									42,519	17,549	18,536
Segment
Segment Reporting Information [Line Items]
Equity-based compensation									51,759	37,978	19,705
Adjusted net income									582,583	311,862	573,127
Adjustments
Segment Reporting Information [Line Items]
Net income attributable to Oaktree Capital Group, LLC									(387,878)	(240,513)	(446,844)
Incentive income									1,407	(19,002)	28,813
Incentive income compensation									(1,407)	19,009	(10,677)
Investment income									(22,251)	3,705	(83,967)
Equity-based compensation									11,965	16,403	21,690
Placement fees									11,870	3,619	0
Currency forward contracts									1,496	2,619	(2,003)
Acquisition-related items									(924)	5,251	2,442
Income taxes									42,519	17,549	18,536
Non-Operating Group expenses									1,176	2,097	1,645
Adjustments | OCGH
Segment Reporting Information [Line Items]
Net income (loss) attributable to non-controlling interests									(341,590)	$ (192,968)	$ (386,398)
Adjustments | Collateralized Loan Obligations
Segment Reporting Information [Line Items]
Investment income									$ (21,814)

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								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Management fees									$ 774,587	$ 195,308	$ 192,055
Incentive income									351,159	6,597	1,839
Investment income									199,126	51,958	33,695
Total expenses	$ (210,165)	$ (202,339)	$ (191,648)	$ (185,184)	$ (268,487)	$ (190,518)	$ (245,929)	$ (235,974)	(789,336)	(940,908)	(947,477)
Interest expense, net									(120,610)	(216,799)	(129,942)
Other income (expense), net									13,490	20,006	3,018
Other income (loss) of consolidated funds									180,206	(631,575)	3,040,900
Income taxes									(42,519)	(17,549)	(18,536)
Net income attributable to Oaktree Capital Group, LLC	59,283	$ 58,297	$ 49,047	$ 28,078	11,395	$ 1,887	$ 19,814	$ 38,253	194,705	71,349	126,283
Total assets	7,649,110				51,762,731				7,649,110	51,762,731	53,320,716
Consolidated Funds
Segment Reporting, Asset Reconciling Item [Line Items]
Net income (loss) attributable to non-controlling interests									(22,921)	1,809,683	(1,649,890)
Consolidated Subsidiaries
Segment Reporting, Asset Reconciling Item [Line Items]
Net income (loss) attributable to non-controlling interests									(348,477)	(205,372)	(399,379)
Oaktree Capital Group Excluding Consolidated Funds
Segment Reporting, Asset Reconciling Item [Line Items]
Corporate investments	1,123,732				213,988				1,123,732	213,988	187,963
Adjustments
Segment Reporting, Asset Reconciling Item [Line Items]
Management fees									(11,086)	(558,497)	(570,768)
Incentive income									(3,993)	(257,209)	(489,563)
Investment income									(22,251)	3,705	(83,967)
Total expenses									(49,954)	(225,865)	(181,338)
Interest expense, net									(88,765)	(181,767)	(99,752)
Other income (expense), net									21,882	23,933	5,449
Other income (loss) of consolidated funds									180,206	(631,575)	3,040,900
Income taxes									(42,519)	(17,549)	(18,536)
Net income attributable to Oaktree Capital Group, LLC									(387,878)	(240,513)	(446,844)
Total assets	4,335,396				48,508,649				4,335,396	48,508,649	50,057,334
Adjustments | Consolidated Funds
Segment Reporting, Asset Reconciling Item [Line Items]
Net income (loss) attributable to non-controlling interests									(22,921)	1,809,683	(1,649,890)
Adjustments | Consolidated Subsidiaries
Segment Reporting, Asset Reconciling Item [Line Items]
Net income (loss) attributable to non-controlling interests									(348,477)	(205,372)	(399,379)
Adjustments | Oaktree Capital Group Excluding Consolidated Funds
Segment Reporting, Asset Reconciling Item [Line Items]
Corporate investments	(357,196)				(1,220,121)				(357,196)	(1,220,121)	(1,327,480)
Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Management fees									785,673	753,805	762,823
Incentive income									355,152	263,806	491,402
Total expenses									(739,382)	(715,043)	(766,139)
Interest expense, net									(31,845)	(35,032)	(30,190)
Other income (expense), net									(8,392)	(3,927)	(2,431)
Segment | Oaktree Capital Group Excluding Consolidated Funds
Segment Reporting, Asset Reconciling Item [Line Items]
Corporate investments	1,500,000				1,400,000				1,500,000	1,400,000	1,500,000
Segment | Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Management fees									785,673	753,805	762,823
Incentive income									355,152	263,806	491,402
Investment income									221,377	48,253	117,662
Total expenses									(739,382)	(715,043)	(766,139)
Interest expense, net									(31,845)	(35,032)	(30,190)
Other income (expense), net									(8,392)	(3,927)	(2,431)
Other income (loss) of consolidated funds									0	0	0
Income taxes									0	0	0
Net income attributable to Oaktree Capital Group, LLC									582,583	311,862	573,127
Total assets	3,313,714				3,254,082				3,313,714	3,254,082	3,263,382
Segment | Operating Segments | Consolidated Funds
Segment Reporting, Asset Reconciling Item [Line Items]
Net income (loss) attributable to non-controlling interests									0	0	0
Segment | Operating Segments | Consolidated Subsidiaries
Segment Reporting, Asset Reconciling Item [Line Items]
Net income (loss) attributable to non-controlling interests									0	0	0
Segment | Operating Segments | Oaktree Capital Group Excluding Consolidated Funds
Segment Reporting, Asset Reconciling Item [Line Items]
Corporate investments	$ 1,480,928				$ 1,434,109				$ 1,480,928	$ 1,434,109	$ 1,515,443

SEGMENT REPORTING - Schedule115

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	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting, Asset Reconciling Item [Line Items]
Equity-based compensation	$ 63,724	$ 54,381	$ 41,395
Consolidated fund expenses	4,428	165,904	161,055
Expenses incurred by the Intermediate Holding Companies	1,051	1,690	1,645
Oaktree Capital Group Excluding Consolidated Funds
Segment Reporting, Asset Reconciling Item [Line Items]
Corporate investments	1,123,732	213,988	187,963
OCGH Units Prior to Initial Public Offering in April 2012
Segment Reporting, Asset Reconciling Item [Line Items]
Equity-based compensation	13,627	16,475	21,657
Adjustments
Segment Reporting, Asset Reconciling Item [Line Items]
Net Realized Gain (Loss) on Investments	408	12,676	1,669
Investment income from investments in CLOs	21,814
Incentive compensation, timing differences	1,407	(19,009)	(10,677)
Acquisition-related items	924	5,251	2,442
Segments reimbursable expenses	21,194	23,552	8,319
Share-based compensation	1,661	72	33
Placement fees	11,870
Currency forward contracts	1,776	9,676	3,204
Other expenses		113	68
Foreign currency gain (loss)	(688)	(381)	2,870
Segment
Segment Reporting, Asset Reconciling Item [Line Items]
Equity-based compensation	51,759	37,978	19,705
Segment | Equity Method Investments
Segment Reporting, Asset Reconciling Item [Line Items]
Equity method investments	1,200,000	1,300,000	1,300,000
Segment | Oaktree Capital Group Excluding Consolidated Funds
Segment Reporting, Asset Reconciling Item [Line Items]
Corporate investments	$ 1,500,000	$ 1,400,000	$ 1,500,000

SUBSEQUENT EVENTS - (Details)

SUBSEQUENT EVENTS - (Details) - $ / shares

3 Months Ended

12 Months Ended

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2015

Sep. 30, 2015

Jun. 30, 2015

Mar. 31, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Feb. 07, 2017

Subsequent Event [Line Items]

Distributions declared per Class A unit (in dollars per share)

$ 0.65000

$ 0.58

$ 0.55

$ 0.47

$ 0.40

$ 0.50

$ 0.64

$ 0.56

$ 2.25000

$ 2.10

$ 3.15

Class A Units

Subsequent Event [Line Items]

Distributions declared per Class A unit (in dollars per share)

$ 2.41

Class A Units | Subsequent Event

Subsequent Event [Line Items]

Dividends declared (in dollars per share)

$ 0.63

QUARTERLY FINANCIAL DATA (Detai

QUARTERLY FINANCIAL DATA (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Data [Abstract]
Revenues	$ 298,310	$ 290,230	$ 282,716	$ 254,490	$ 49,108	$ 50,491	$ 51,487	$ 50,819	$ 1,125,746	$ 201,905	$ 193,894
Expenses	(210,165)	(202,339)	(191,648)	(185,184)	(268,487)	(190,518)	(245,929)	(235,974)	(789,336)	(940,908)	(947,477)
Other income (loss)	97,834	89,499	58,337	26,542	(511,097)	(1,624,651)	(116,711)	1,476,049	272,212	(776,410)	2,947,671
Income (loss) before income taxes	185,979	177,390	149,405	95,848	(730,476)	(1,764,678)	(311,153)	1,290,894	608,622	(1,515,413)	2,194,088
Net income (loss)	173,278	168,823	140,834	83,168	(732,772)	(1,766,571)	(316,638)	1,283,019	566,103	(1,532,962)	2,175,552
Net income attributable to Oaktree Capital Group, LLC	$ 59,283	$ 58,297	$ 49,047	$ 28,078	$ 11,395	$ 1,887	$ 19,814	$ 38,253	$ 194,705	$ 71,349	$ 126,283
Basic and diluted net income (loss) per Class A unit (in dollars per share)	$ 0.94	$ 0.93	$ 0.78	$ 0.45	$ 0.21	$ 0.04	$ 0.41	$ 0.85	$ 3.11	$ 1.45	$ 2.97
Distributions declared per Class A unit (in dollars per share)	$ 0.65000	$ 0.58	$ 0.55	$ 0.47	$ 0.40	$ 0.50	$ 0.64	$ 0.56	$ 2.25000	$ 2.10	$ 3.15