Oaktree Capital Group, LLC 6.625% PFD UT A (OAK-PA) 10-K 23 Feb 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2017	Feb. 12, 2018	Jun. 30, 2017
Entity Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
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			$ 3
Class A Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		70,297,761
Class B Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		85,968,924

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Cash and cash-equivalents	$ 959,465	$ 959,200
Deferred tax assets	202,460	404,614
Derivative assets, at fair value	5,751	16,499
Total assets	9,014,796	7,649,110
Liabilities:
Derivative liabilities, at fair value	21,586	8,951
Total liabilities	6,133,631	5,419,892
Commitments and contingencies (Note 16)
Non-controlling redeemable interests in consolidated funds	860,548	344,047
Unitholders’ capital:
Paid-in capital	788,413	749,618
Retained earnings	80,128	54,494
Accumulated other comprehensive income	443	1,793
Class A unitholders’ capital	868,984	805,905
Non-controlling interests in consolidated subsidiaries	1,121,237	1,050,319
Non-controlling interests in consolidated funds	30,396	28,947
Total unitholders’ capital	2,020,617	1,885,171
Total liabilities and unitholders’ capital	9,014,796	7,649,110
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	481,631	291,470
U.S. Treasury and other securities	176,602	757,578
Corporate investments (includes $50,778 and $107,591 measured at fair value as of December 31, 2017 and 2016, respectively)	1,009,631	1,123,732
Due from affiliates	223,224	208,643
Deferred tax assets	202,460	404,614
Investments, at fair value	50,778	107,591
Other assets	564,529	237,466
Liabilities:
Accrued compensation expense	274,984	284,510
Accounts payable, accrued expenses and other liabilities	158,716	150,596
Due to affiliates	177,873	346,543
Debt obligations	746,274	745,897
Derivative liabilities, at fair value		7,865
Consolidated Funds
Assets
Cash and cash-equivalents	477,834	667,730
Investments, at fair value	5,660,540	3,808,234
Dividends and interest receivable	21,144	15,297
Due from brokers	54,289	98,746
Receivable for securities sold	141,582	34,932
Derivative assets, at fair value	731	357
Other assets	599	311
Liabilities:
Accounts payable, accrued expenses and other liabilities	18,111	11,689
Payables for securities purchased	580,906	291,182
Debt obligations	3,219,592	3,054,210
Securities sold short, at fair value	86,467	41,016
Derivative liabilities, at fair value	953	1,086
Distributions payable	7,354	9,207
Borrowings under credit facilities	$ 862,401	$ 483,956

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
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)	65,310,226	63,032,276
Common stock, shares outstanding (in shares)	65,310,226	63,032,276
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)	90,975,687	91,758,067
Common stock, shares outstanding (in shares)	90,975,687	91,758,067
Oaktree Capital Group Excluding Consolidated Funds
Investments, at fair value	$ 50,778	$ 107,591

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues:
Management fees	$ 726,414	$ 774,587	$ 195,308
Incentive income	743,353	351,159	6,597
Total revenues	1,469,767	1,125,746	201,905
Expenses:
Compensation and benefits	(392,827)	(389,892)	(416,907)
Equity-based compensation	(59,337)	(63,724)	(54,381)
Incentive income compensation	(416,481)	(168,276)	(160,831)
Total compensation and benefits expense	(868,645)	(621,892)	(632,119)
General and administrative	(130,892)	(145,430)	(110,677)
Depreciation and amortization	(15,776)	(16,222)	(14,022)
Consolidated fund expenses	(10,030)	(5,792)	(184,090)
Total expenses	(1,025,343)	(789,336)	(940,908)
Other income (loss):
Interest expense	(169,888)	(120,610)	(216,799)
Interest and dividend income	215,119	165,066	1,958,802
Net realized gain on consolidated funds’ investments	20,400	27,593	1,177,150
Net change in unrealized appreciation (depreciation) on consolidated funds’ investments	55,061	(12,453)	(3,767,527)
Investment income	201,289	199,126	51,958
Other income, net	138,519	13,490	20,006
Total other income (loss)	460,500	272,212	(776,410)
Income (loss) before income taxes	904,924	608,622	(1,515,413)
Income taxes	(215,442)	(42,519)	(17,549)
Net income (loss)	689,482	566,103	(1,532,962)
Less:
Net income attributable to Oaktree Capital Group, LLC	$ 231,494	$ 194,705	$ 71,349
Distributions declared per Class A unit (in dollars per share)	$ 3.21000	$ 2.25	$ 2.10
Net income per unit (basic and diluted):
Net income per Class A unit (in dollars per share)	$ 3.61	$ 3.11	$ 1.45
Weighted average number of Class A units outstanding (basic and diluted) (in shares)	64,148	62,565	49,324
Consolidated Subsidiaries
Less:
Net income attributable to non-controlling interests	$ (424,784)	$ (348,477)	$ (205,372)
Consolidated Funds
Less:
Net income attributable to non-controlling interests	$ (33,204)	$ (22,921)	$ 1,809,683

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net income	$ 689,482	$ 566,103	$ (1,532,962)
Other comprehensive income (loss), net of tax:
Foreign-currency translation adjustments	(3,389)	6,579	(2,210)
Unrealized gain on interest-rate swap designated as cash-flow hedge	60	847	1,374
Other comprehensive loss, net of tax	(3,329)	7,426	(836)
Total comprehensive income	686,153	573,529	(1,533,798)
Less: Comprehensive income attributable to non-controlling interests	(456,009)	(375,815)	1,605,001
Comprehensive income attributable to Oaktree Capital Group, LLC	230,144	197,714	71,203
Oaktree Capital Group, LLC
Net income	231,494	194,705	71,349
Other comprehensive income (loss), net of tax:
Foreign-currency translation adjustments	(1,374)	2,666	(621)
Unrealized gain on interest-rate swap designated as cash-flow hedge	24	343	475
Other comprehensive loss, net of tax	(1,350)	3,009	(146)
Total comprehensive income	230,144	197,714	71,203
Less: Comprehensive income attributable to non-controlling interests	0	0	0
Comprehensive income attributable to Oaktree Capital Group, LLC	230,144	197,714	71,203
Non-controlling Interests in Consolidated Subsidiaries
Net income	424,784	348,477	205,372
Other comprehensive income (loss), net of tax:
Foreign-currency translation adjustments	(2,015)	3,913	(1,589)
Unrealized gain on interest-rate swap designated as cash-flow hedge	36	504	899
Other comprehensive loss, net of tax	(1,979)	4,417	(690)
Total comprehensive income	422,805	352,894	204,682
Less: Comprehensive income attributable to non-controlling interests	(422,805)	(352,894)	(204,682)
Comprehensive income attributable to Oaktree Capital Group, LLC	0	0	0
Non-controlling Interests in Consolidated Funds
Net income	33,204	22,921	(1,809,683)
Other comprehensive income (loss), 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 loss, net of tax	0	0	0
Total comprehensive income	33,204	22,921	(1,809,683)
Less: Comprehensive income attributable to non-controlling interests	(33,204)	(22,921)	1,809,683
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, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income (loss)	$ 689,482	$ 566,103	$ (1,532,962)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Investment income	(201,289)	(199,126)	(51,958)
Depreciation and amortization	15,776	16,222	14,022
Equity-based compensation	59,337	63,724	54,381
Net realized and unrealized (gain) loss from consolidated funds’ investments	(75,461)	(15,140)	2,590,377
Amortization (accretion) of original issue and market discount of consolidated funds’ investments, net	(3,816)	(6,583)	(26,366)
Income distributions from corporate investments in funds and companies	182,844	121,421	50,252
Other non-cash items	1,028	4,688	15,689
Cash flows due to changes in operating assets and liabilities:
Purchases of securities	(158,663)	(113,464)	(82,273)
Net cash used in operating activities	(336,305)	(317,906)	(943,227)
Cash flows from investing activities:
Purchases of U.S. Treasury and other securities	(610,474)	(874,480)	(385,642)
Proceeds from maturities and sales of U.S. Treasury and other securities	1,191,670	778,018	380,055
Distributions and proceeds from corporate investments in funds and companies	264,226	181,769	57,954
Acquisition (BDCs)	(319,435)	0	0
Purchases of fixed assets	(29,413)	(70,430)	(23,724)
Proceeds from sale of fixed assets	5,048	0	0
Net cash provided by (used in) investing activities	342,959	(98,587)	(53,630)
Cash flows from financing activities:
Net cash provided by (used in) financing activities	(51,032)	763,327	992,269
Effect of exchange rate changes on cash	39,285	(6,546)	(12,804)
Net increase (decrease) in cash and cash-equivalents	(5,093)	340,288	(17,392)
Initial consolidation of funds	5,358	0	0
Cash and cash-equivalents, beginning balance	959,200	3,331,102	3,348,494
Cash and cash-equivalents, ending balance	959,465	959,200	3,331,102
Supplemental cash flow disclosures:
Cash paid for interest	146,341	99,740	159,460
Cash paid for income taxes	22,853	15,178	5,586
Net assets related to the initial consolidation of funds	296,971	34,095	0
Change in cash and cash-equivalents from adoption of accounting guidance | Adjustment
Cash flows from financing activities:
Cash and cash-equivalents, beginning balance	0	(2,712,190)	0
Cash and cash-equivalents, ending balance		0	(2,712,190)
Oaktree Capital Group Excluding Consolidated Funds
Cash flows due to changes in operating assets and liabilities:
Decrease in deferred tax assets	202,294	24,578	10,645
Decrease in other assets	7,818	23,833	34,349
Decrease in net due to affiliates	(184,616)	(105,401)	(3,857)
Increase (decrease) in accrued compensation expense	(9,143)	(34,915)	24,948
Increase (decrease) in accounts payable, accrued expenses and other liabilities	7,533	33,595	(26,537)
Cash flows from financing activities:
Proceeds from issuance of debt obligations	250,000	100,000	0
Payment of debt issuance costs	0	(1,310)	0
Repayments of debt obligations	(250,000)	(200,000)	0
Proceeds from issuance of Class A units	0	0	237,820
Purchase of OCGH units	0	0	(237,820)
Repurchase and cancellation of units	(12,317)	(12,764)	(4,926)
Distributions to Class A unitholders	(206,212)	(141,561)	(99,120)
Distributions to OCGH unitholders	(355,834)	(252,902)	(273,534)
Contributions from non-controlling interests	0	0	4,000
Distributions to non-controlling interests	(4,784)	(6,888)	(6,493)
Cash and cash-equivalents, beginning balance	291,470
Cash and cash-equivalents, ending balance	481,631	291,470
Consolidated Funds
Cash flows due to changes in operating assets and liabilities:
(Increase) decrease in dividends and interest receivable	(4,328)	(3,122)	3,735
(Increase) decrease in due from brokers	44,457	57,605	(100,826)
(Increase) decrease in receivables for securities sold	(101,668)	(21,200)	8,018
(Increase) decrease in other assets	(286)	25	224,296
Increase (decrease) in accounts payable, accrued expenses and other liabilities	2,802	(3,367)	64,482
Increase (decrease) in payables for securities purchased	259,652	149,575	(289,294)
Purchases of securities	(5,337,361)	(3,460,598)	(17,994,888)
Proceeds from maturities and sales of securities	4,108,640	2,470,177	15,988,267
Cash flows from financing activities:
Payment of debt issuance costs	(8,159)	(13,015)	(25,156)
Repayment on debt obligations issued by CLOs	(1,688,229)	0	0
Contributions from non-controlling interests	331,764	144,060	5,404,333
Distributions to non-controlling interests	(148,617)	(59,757)	(6,633,233)
Proceeds from debt obligations issued by CLOs	1,709,592	839,448	982,962
Borrowings on credit facilities	702,100	1,025,333	7,682,232
Repayments on credit facilities	(370,336)	(657,317)	$ (6,038,796)
Cash and cash-equivalents, beginning balance	667,730
Cash and cash-equivalents, ending balance	$ 477,834	$ 667,730

Consolidated Statements of Chan

Consolidated Statements of Changes in Unitholders Capital - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 1,885,171	$ 1,808,094	$ 1,840,130
Cumulative-effect adjustment from adoption of accounting guidance		0	(122,621)
Issuance of units	0		237,820
Change in deferred taxes resulting from increase in Class A ownership percentage	475
Repurchase and cancellation of units	(12,317)	(12,764)	(242,746)
Deferred tax effect resulting from the purchase of OCGH units		745	16,606
Capital contributions			6,880
Equity reallocation between controlling and non-controlling interests	0	0	0
Capital increase related to equity-based compensation	59,720	63,727	52,762
Distributions declared	(569,053)	(404,551)	(382,099)
Net income	659,950	545,115	279,577
Foreign currency translation adjustment, net of tax	(3,389)	6,579	(2,210)
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax	60	847	1,374
Ending balance	2,020,617	1,885,171	1,808,094
Paid-in Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	749,618	735,166	536,431
Cumulative-effect adjustment from adoption of accounting guidance		(352)	(12,912)
Issuance of units	0	0	237,820
Change in deferred taxes resulting from increase in Class A ownership percentage	475
Repurchase and cancellation of units	(9,073)	(12,200)	(237,820)
Deferred tax effect resulting from the purchase of OCGH units		745	16,606
Equity reallocation between controlling and non-controlling interests	23,151	14,388	181,539
Capital increase related to equity-based compensation	24,594	25,781	16,983
Distributions declared	0	(1,350)	(16,393)
Ending balance	788,413	749,618	735,166
Retained Earnings (Accumulated Deficit)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	54,494	0	11,378
Cumulative-effect adjustment from adoption of accounting guidance		352	0
Distributions declared	(206,212)	(140,211)	(82,727)
Net income	231,494	194,705	71,349
Ending balance	80,128	54,494	0
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,793	(1,216)	(1,070)
Foreign currency translation adjustment, net of tax	(1,374)	2,666	(621)
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax	24	343	475
Ending balance	443	1,793	(1,216)
Non-controlling Interests in Consolidated Subsidiaries
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,050,319	1,043,930	1,265,961
Cumulative-effect adjustment from adoption of accounting guidance		0	(109,709)
Repurchase and cancellation of units	(3,244)	(564)	(4,926)
Capital contributions			4,000
Equity reallocation between controlling and non-controlling interests	(23,151)	(14,388)	(181,539)
Capital increase related to equity-based compensation	35,126	37,946	35,779
Distributions declared	(360,618)	(259,790)	(280,027)
Net income	424,784	348,477	205,372
Foreign currency translation adjustment, net of tax	(2,015)	3,913	(1,589)
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax	36	504	899
Ending balance	1,121,237	1,050,319	1,043,930
Non-controlling Interests in Consolidated Funds
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	28,947	30,214	27,430
Capital contributions			2,880
Distributions declared	(2,223)	(3,200)	(2,952)
Net income	3,672	1,933	2,856
Foreign currency translation adjustment, net of tax	0	0	0
Unrealized gain on interest-rate swap designated as cash-flow hedge, net of tax	0	0	0
Ending balance	$ 30,396	$ 28,947	$ 30,214
Class A Units | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	63,032	61,970	43,764
Issuance of units (in shares)	2,507	1,420	18,231
Cancellation of units associated with forfeitures (in shares)	(21)	(108)	(25)
Cancellation of units (in shares)	0	0	0
Repurchase and cancellation of units (in shares)	(208)	(250)	0
Ending balance (in shares)	65,310	63,032	61,970
Class B Units | Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (in shares)	91,758	91,938	109,089
Issuance of units (in shares)	524	630	1,338
Cancellation of units associated with forfeitures (in shares)	0	(207)	(135)
Cancellation of units (in shares)	(1,221)	(589)	(13,622)
Repurchase and cancellation of units (in shares)	(85)	(14)	(4,732)
Ending balance (in shares)	90,976	91,758	91,938

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2017
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, collateralized loan obligation vehicles (“CLOs”) and publicly-traded business development companies (“BDCs”). 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, 2017
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 The Company adopted the new consolidation guidance on January 1, 2016 on a modified retrospective basis. As a result, prior periods were not recast. There was no impact on retained earnings or net income attributable to the Company. Under the new consolidation guidance, 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 variable interest entity (“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 those 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 (a) 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 (b) 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. The Company does not consolidate most of the Oaktree funds because it is not the primary beneficiary of those funds due to the fact that its fee arrangements are considered at-market and thus 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. Please see note 4 for more information regarding both consolidated and unconsolidated VIEs. For entities that are not VIEs, consolidation is evaluated through a majority voting interest model. “Consolidated funds” refers to Oaktree-managed funds and CLOs that the Company 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. Acquisitions 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. Transactions that do not meet the definition of a business are accounted for as asset acquisitions. The cost of an asset acquisition is allocated to the individual assets acquired and liabilities assumed on a relative fair value basis. Transaction costs are included in the cost of the acquisition and no goodwill is recognized. 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 acquired identifiable intangible assets 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 seven to 25 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, debt obligations of consolidated CLOs, and other investments where the fair value is based on observable inputs. • Level III – Valuations for which one or more significant inputs are unobservable. These inputs reflect the Company’s assessment of the assumptions that market participants use to value the investment based on the best available information. Level III inputs include prices of quoted securities in markets for which there are few transactions, less public information exists or prices vary among brokered market makers. The types of investments in Level III include non-publicly traded equity, debt, real estate and derivatives. In some instances, the inputs used to value an instrument may fall into multiple levels of the fair-value hierarchy. In such instances, the instrument’s level within the fair-value hierarchy is based on the lowest of the three levels (with Level III being the lowest) that is significant to the fair-value measurement. The Company’s assessment of the significance of an input requires judgment and considers factors specific to the instrument. Transfers of assets into or out of each fair value hierarchy level as a result of changes in the observability of the inputs used in measuring fair value are accounted for as of the beginning of the reporting period. Transfers resulting from a specific event, such as a reorganization or restructuring, are accounted for as of the date of the event that caused the transfer. In the absence of observable market prices, the Company values Level III investments using valuation methodologies applied on a consistent basis. The quarterly valuation process for Level III investments begins with each portfolio company, property or security being valued by the investment 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 pricing vendors or brokers. The Company seeks to obtain prices from at least two pricing vendors for the subject or similar securities. In cases where vendor pricing is not reflective of fair value, a secondary vendor is unavailable, or no vendor pricing is available, a comparison value made up of quotes for the subject or similar securities received from broker dealers may be used. 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 pricing vendors and brokers against actual prices received in transactions. In addition to ongoing monitoring and back-testing, the Company performs due diligence procedures surrounding pricing vendors to understand their methodology and controls to support their use in the valuation process. Fair Value Option The Company has elected the fair value option for certain corporate investments that otherwise would not have reflected unrealized gains and losses in current-period earnings. Such election is irrevocable and is applied on an investment-by-investment basis at initial recognition. Unrealized gains and losses resulting from changes in fair value are reflected as a component of investment income in the 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. The fair value of CLO liabilities are 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. 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, foreign-currency forwards or cross-currency swaps). 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. 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. 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, it 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. Freestanding derivatives are financial instruments that we enter into as part of our overall risk management strategy but do not utilize hedge accounting. These financial instruments may include foreign-currency exchange contracts, interest-rate swaps and other derivative contracts. 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, the Company records 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 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 freestanding derivatives, changes in fair value are recorded 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 the 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 Other Securities U.S. Treasury and other securities include holdings of U.S. Treasury bills, time deposit securities and commercial paper with maturities greater than three months at the date of acquisition. These securities are classified as available-for-sale and 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 may elect to delay the start of the fund’s investment period and thus its full management fees, in which case it 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, the management fee is based on the aggregate par value of collateral assets and principal cash, as defined in the applicable CLO indentures, and a portion of the management fees 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. For the publicly-traded BDCs, the management fee is based on gross assets (including assets acquired with leverage), net of cash. In the case of certain open-end fund accounts, the Company has the potential to earn performance-based fees, typically in reference to a relevant benchmark index or hurdle rate, which are classified as management fees. Management fees also include the quarterly incentive fees on investment income the Company earns from its publicly-traded BDCs and certain evergreen fund accounts, which are recurring in nature. 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, 2017, 2016 and 2015 were $29.7 million , $32.5 million and $26.6 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 up 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, 2017 and 2016, respectively, there was $20.6 million and $16.8 million 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. Please see “Recent Accounting Developments” below for a discussion on the impact of the new revenue recognition standard on the consolidated financial statements upon adoption on January 1, 2018. 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 expense reflects the non-cash charge associated with grants of Class A units, OCGH units, OCGH equity value units (“EVUs”) and deferred equity units, and is calculated based on the grant-date fair value of the unit award. 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 th

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Dec. 31, 2017
Asset Acquisitions [Abstract]
ACQUISITIONS	ACQUISITIONS On October 17, 2017, the Company completed a transaction in which it became the new investment adviser to two business development companies (the “BDCs”): Oaktree Specialty Lending Corporation (NASDAQ: OCSL), formerly known as Fifth Street Finance Corp. (NASDAQ: FSC), and Oaktree Strategic Income Corporation (NASDAQ: OCSI), formerly known as Fifth Street Senior Floating Rate Corp. (NASDAQ: FSFR) (collectively, the “BDC acquisition”). Upon the closing of the transaction (the “BDC acquisition”), the Company paid $320.0 million in cash to Fifth Street Management LLC (“FSM”), net of certain transaction-related expenses, for all of FSM’s right, title and interest in specified business records related to FSM’s then-existing investment advisory agreements with each of FSC and FSFR. The transaction was accounted for as an asset acquisition. The net purchase price was $319.4 million , consisting of the $320.0 million cash payment, net of certain transaction-related expenses and reimbursements received from the seller. Of the purchase price, $319.4 million was allocated to finite-lived contractual rights, $56.2 million to indemnification assets and $56.2 million to contingent liabilities.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2017
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 fees. 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. Consolidated VIEs As of December 31, 2017, the Company consolidated 21 VIEs for which it was the primary beneficiary, including 12 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. Two of the consolidated funds, Oaktree Enhanced Income Retention Holdings III, LLC and Oaktree CLO RR Holder, LLC, were formed to satisfy risk retention requirements under Section 15G of the Exchange Act. One of the CLOs had not priced as of December 31, 2017. As of December 31, 2016, the Company consolidated 17 VIEs. As of December 31, 2017, the assets and liabilities of the 20 consolidated VIEs representing funds and CLOs amounted to $6.2 billion and $4.8 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, 2017, the Company’s investments in consolidated VIEs had a carrying value of $493.8 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. The carrying value of the Company’s investments in VIEs that were not consolidated are shown below. As of December 31, 2017 2016 Corporate investments $ 930,699 $ 1,055,227 Due from affiliates 160,257 159,714 Maximum exposure to loss $ 1,090,956 $ 1,214,941

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2017
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 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. Corporate investments consisted of the following: As of December 31, Corporate Investments 2017 2016 Equity-method investments: Funds $ 916,559 $ 981,209 Companies 42,294 34,932 Other investments, at fair value 50,778 107,591 Total corporate investments $ 1,009,631 $ 1,123,732 The components of investment income are set forth below: Year Ended December 31, Investment Income 2017 2016 2015 Equity-method investments: Funds $ 138,465 $ 123,511 $ 1,813 Companies 71,311 66,427 49,933 Other investments, at fair value (8,487 ) 9,188 212 Total investment income $ 201,289 $ 199,126 $ 51,958 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, but 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, 2017 and 2016, or for the years ended December 31, 2017, 2016 and 2015, 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: As of December 31, Statements of Financial Condition 2017 2016 Assets: Cash and cash-equivalents $ 2,654,311 $ 3,713,045 Investments, at fair value 41,754,054 43,084,842 Other assets 2,116,751 1,994,304 Total assets $ 46,525,116 $ 48,792,191 Liabilities and Capital: Debt obligations $ 8,393,314 $ 7,372,063 Other liabilities 2,264,579 2,028,065 Total liabilities 10,657,893 9,400,128 Total capital 35,867,223 39,392,063 Total liabilities and capital $ 46,525,116 $ 48,792,191 Year Ended December 31, Statements of Operations 2017 2016 Revenues / investment income $ 1,982,828 $ 2,188,044 Interest expense (235,266 ) (176,009 ) Other expenses (821,083 ) (899,288 ) Net realized and unrealized gain on investments 3,795,102 4,065,939 Net income $ 4,721,581 $ 5,178,686 Other Investments, at Fair Value Other investments, at fair value primarily consist of: (a) investments in certain Oaktree and non-Oaktree funds for which the fair value option of accounting has been elected and (b) 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, 2017 2016 2015 Realized gain $ 8,439 $ 1,808 $ 1,372 Net change in unrealized gain (loss) (16,926 ) 7,380 (1,160 ) Total gain (loss) $ (8,487 ) $ 9,188 $ 212 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 2017 2016 2017 2016 United States: Debt securities: Consumer discretionary $ 796,681 $ 628,621 14.0 % 16.5 % Consumer staples 100,863 123,395 1.8 3.2 Energy 106,414 55,655 1.9 1.5 Financials 161,807 74,573 2.9 2.0 Government 3,033 5,234 0.1 0.1 Health care 416,779 337,138 7.4 8.9 Industrials 441,440 379,122 7.8 10.0 Information technology 431,010 272,637 7.6 7.2 Materials 384,310 237,417 6.8 6.2 Real estate 146,836 108,112 2.6 2.8 Telecommunication services 178,984 93,893 3.2 2.5 Utilities 117,805 76,920 2.1 2.0 Total debt securities (cost: $3,284,346 and $2,378,759 as of December 31, 2017 and 2016, respectively) 3,285,962 2,392,717 58.2 62.9 Equity securities: Consumer discretionary 1,778 711 0.0 0.0 Energy 649 2,002 0.0 0.1 Financials 3,061 3,977 0.1 0.1 Health care 527 343 0.0 0.0 Industrials 316 1 0.0 0.0 Materials — 691 — 0.0 Telecommunication services 305 — 0.0 — Utilities 1,192 — 0.0 — Total equity securities (cost: $8,102 and $5,462 as of December 31, 2017 and 2016, respectively) 7,828 7,725 0.1 0.2 Real estate: Real estate 121,588 — 2.1 — Total real estate securities (cost: $121,582 and $0 as of December 31, 2017 and 2016, respectively) 121,588 — 2.1 — Fair Value as of December 31, Fair Value as a Percentage of Investments of Consolidated Funds as of December 31, Investments 2017 2016 2017 2016 Europe: Debt securities: Consumer discretionary $ 573,270 $ 374,627 10.1 % 9.8 % Consumer staples 121,636 92,750 2.1 2.4 Energy 5,929 13,274 0.1 0.3 Financials 40,130 7,291 0.7 0.2 Government — 1,996 — 0.1 Health care 333,693 210,078 5.9 5.5 Industrials 163,972 54,578 2.9 1.4 Information technology 95,409 23,832 1.7 0.6 Materials 267,252 226,961 4.7 6.0 Real estate 12,528 6,531 0.2 0.2 Telecommunication services 278,358 214,182 4.9 5.6 Utilities 8,949 — 0.2 — Total debt securities (cost: $1,894,727 and $1,214,068 as of December 31, 2017 and 2016, respectively) 1,901,126 1,226,100 33.5 32.1 Equity securities: Consumer Staples 1,449 — 0.0 — Energy 3,827 — 0.1 — Financials 7,410 1,605 0.1 0.0 Health care 601 — 0.0 — Materials 1,622 — 0.0 — Total equity securities (cost: $12,787 and $1,494 as of December 31, 2017 and 2016, respectively) 14,909 1,605 0.2 0.0 Asia and other: Debt securities: Consumer discretionary 30,332 3,145 0.5 0.1 Consumer staples 748 5,994 0.0 0.2 Energy 10,175 9,570 0.2 0.3 Financials 20,362 — 0.4 — Government — 1,506 — 0.0 Health care 13,806 1,245 0.2 0.0 Industrials 22,935 15,450 0.4 0.4 Information technology 536 409 0.0 0.0 Materials 8,515 10,245 0.2 0.3 Real estate 6,272 — 0.1 — Telecommunication services 8,104 4,809 0.1 0.1 Utilities 769 928 0.0 0.0 Total debt securities (cost: $124,723 and $57,400 as of December 31, 2017 and 2016, respectively) 122,554 53,301 2.1 1.4 Fair Value as of December 31, Fair Value as a Percentage of Investments of Consolidated Funds as of December 31, Investments 2017 2016 2017 2016 Asia and other: Equity securities: Consumer discretionary $ 29,026 $ 7,639 0.5 % 0.2 % Consumer staples 7,279 3,786 0.1 0.1 Energy 5,551 6,978 0.1 0.2 Financials 58,632 38,242 1.2 1.0 Industrials 34,019 21,564 0.7 0.6 Information technology 23,900 16,642 0.4 0.4 Materials 28,590 19,697 0.5 0.5 Real estate 15,339 6,086 0.3 0.2 Telecommunication services 1,735 4,296 0.0 0.1 Utilities 2,502 1,856 0.0 0.1 Total equity securities (cost: $185,164 and $118,292 as of December 31, 2017 and 2016, respectively) 206,573 126,786 3.8 3.4 Total debt securities 5,309,642 3,672,118 93.8 96.4 Total equity securities 229,310 136,116 4.1 3.6 Total real estate securities 121,588 — 2.1 — Total investments, at fair value $ 5,660,540 $ 3,808,234 100.0 % 100.0 % Securities Sold Short Equity securities (proceeds: $82,502 and $41,541 as of December 31, 2017 and 2016, respectively) $ (86,467 ) $ (41,016 ) As of December 31, 2017 and 2016, 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, 2017 2016 2015 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 $ 27,910 $ (1,151 ) $ 30,718 $ 109,398 $ 895,271 $ (3,602,437 ) CLO liabilities (1) — 53,351 — (120,702 ) — — Foreign-currency forward contracts (2) (2,917 ) 1,909 521 264 457,594 (98,420 ) Total-return and interest-rate swaps (2) 232 378 (2,353 ) (1,416 ) (215,837 ) (38,658 ) Options and futures (2) (4,825 ) 574 (1,293 ) 3 43,055 (30,198 ) Swaptions (2)(3) — — — — (2,933 ) 2,186 Total $ 20,400 $ 55,061 $ 27,593 $ (12,453 ) $ 1,177,150 $ (3,767,527 ) (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, 2017
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, 2017 As of December 31, 2016 Level I Level II Level III Total Level I Level II Level III Total Assets U.S. Treasury and other securities (1) $ 176,602 $ — $ — $ 176,602 $ 757,578 $ — $ — $ 757,578 Corporate investments — 1,833 50,902 52,735 — 27,551 74,663 102,214 Foreign-currency forward contracts (2) — 5,020 — 5,020 — 16,142 — 16,142 Total assets $ 176,602 $ 6,853 $ 50,902 $ 234,357 $ 757,578 $ 43,693 $ 74,663 $ 875,934 Liabilities Contingent consideration (3) $ — $ — $ (18,778 ) $ (18,778 ) $ — $ — $ (23,567 ) $ (23,567 ) Foreign-currency forward contracts (4) — (13,154 ) — (13,154 ) — (7,805 ) — (7,805 ) Cross-currency swap (3) — (7,479 ) — (7,479 ) — — — — Interest-rate swaps (3) — — — — — (60 ) — (60 ) Total liabilities $ — $ (20,633 ) $ (18,778 ) $ (39,411 ) $ — $ (7,865 ) $ (23,567 ) $ (31,432 ) (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 as of December 31, 2016, 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. (4) Amounts are included in accounts payable, accrued expenses and other liabilities in the condensed consolidated statements of financial condition, except for $1,957 as of December 31, 2017, which is included within corporate investments in the consolidated statements of financial condition. There were no transfers between Level I and Level II positions for the years ended December 31, 2017 and 2016. The table below sets forth a summary of changes in the fair value of Level III financial instruments: Year Ended December 31, 2017 2016 Corporate Investments Contingent Consideration Liability Corporate Investments Contingent Consideration Liability Beginning balance $ 74,663 $ (23,567 ) $ 25,750 $ (28,494 ) Contributions or additions 1,871 — 43,521 — Distributions (36,283 ) — (1,470 ) — Net gain (loss) included in earnings 10,651 4,789 6,862 4,927 Ending balance $ 50,902 $ (18,778 ) $ 74,663 $ (23,567 ) Net change in unrealized gains (losses) attributable to financial instruments still held at end of period $ 3,758 $ 4,789 $ 5,913 $ 4,927 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 2017 2016 Valuation Technique Range Corporate investment – Limited partnership interests $ 50,902 $ 74,663 Market approach Not applicable Not applicable Not applicable Contingent consideration liability (18,778 ) (23,567 ) Discounted cash flow Assumed % of total potential contingent payments 0% – 100% 36% 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, 2017 As of December 31, 2016 Level I Level II Level III Total Level I Level II Level III Total Assets Investments: Corporate debt – bank debt $ — $ 4,340,860 $ 86,999 $ 4,427,859 $ — $ 2,973,482 $ 208,868 $ 3,182,350 Corporate debt – all other 736 805,659 75,388 881,783 — 460,975 28,793 489,768 Equities – common stock 222,439 65 3,427 225,931 129,362 61 6,693 136,116 Equities – preferred stock 3,041 338 — 3,379 — — — — Real estate — — 121,588 121,588 — — — — Total investments 226,216 5,146,922 287,402 5,660,540 129,362 3,434,518 244,354 3,808,234 Derivatives: Foreign-currency forward contracts — 590 — 590 — 216 — 216 Swaps — 49 — 49 — 141 — 141 Options and futures 92 — — 92 — — — — Total derivatives 92 639 — 731 — 357 — 357 Total assets $ 226,308 $ 5,147,561 $ 287,402 $ 5,661,271 $ 129,362 $ 3,434,875 $ 244,354 $ 3,808,591 Liabilities CLO debt obligations: Senior secured notes (1) $ — $ (3,107,955 ) $ — $ (3,107,955 ) $ — $ (2,953,880 ) $ — $ (2,953,880 ) Subordinated notes (1) — (111,637 ) — (111,637 ) — (100,330 ) — (100,330 ) Total CLO debt obligations — (3,219,592 ) — (3,219,592 ) — (3,054,210 ) — (3,054,210 ) Securities sold short: Equity securities (86,467 ) — — (86,467 ) (41,016 ) — — (41,016 ) Derivatives: Foreign-currency forward contracts — (817 ) — (817 ) — (4 ) — (4 ) Swaps — (136 ) — (136 ) — (1,082 ) — (1,082 ) Total derivatives — (953 ) — (953 ) — (1,086 ) — (1,086 ) Total liabilities $ (86,467 ) $ (3,220,545 ) $ — $ (3,307,012 ) $ (41,016 ) $ (3,055,296 ) $ — $ (3,096,312 ) (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 Total 2017 Beginning balance $ 208,868 $ 28,793 $ 6,693 $ — $ — $ — $ — $ 244,354 Transfers into Level III 19,270 1,978 — — — — — 21,248 Transfers out of Level III (48,371 ) (1,978 ) (3,280 ) — — — — (53,629 ) Purchases 62,977 83,272 163 — 123,582 — — 269,994 Sales (161,511 ) (37,942 ) (2,056 ) — (2,005 ) — — (203,514 ) Realized gains (losses), net 3,990 569 216 — 5 — — 4,780 Unrealized appreciation (depreciation), net 1,776 696 1,691 — 6 — — 4,169 Ending balance $ 86,999 $ 75,388 $ 3,427 $ — $ 121,588 $ — $ — $ 287,402 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ 1,828 $ 806 $ 1,691 $ — $ 6 $ — $ — $ 4,331 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 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. Transfers between Level I and Level II positions for the year ended December 31, 2017 included $0.4 million from Level I to Level II due to a decline in trading activity. There were no transfers between Level I and Level II positions for the year ended December 31, 2016. 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, 2017: Investment Type Fair Value Valuation Technique Significant Unobservable (1)(2) Range Weighted Average (3) Credit-oriented investments: Financials: $ 53,732 Recent market information (5) Quoted prices Not applicable Not applicable Industrials: 14,563 Discounted cash flow (4) Discount rate 6% – 11% 7% 3,782 Recent market information (5) Quoted prices Not applicable Not applicable Information 5,331 Discounted cash flow (4) Discount rate 11% – 13% 12% 13,965 Recent market information (5) Quoted prices Not applicable Not applicable Real estate: 2,897 Discounted cash flow (4) Discount rate 11% – 13% 12% 22,297 Recent market information (5) Quoted prices Not applicable Not applicable 327 Recent transaction price (8) Not applicable Not applicable Not applicable Other: 15,881 Discounted cash flow (4) Discount rate 8% – 20% 12% 660 Market approach (6) Earnings multiple (7) 8x – 10x 9x 29,452 Recent market information (5) Quoted prices Not applicable Not applicable Equity investments: 378 Market approach (6) Earnings multiple (7) 9x – 11x 10x 1,343 Discounted cash flow (4) Discount rate 11% – 30% 13% 1,707 Recent market information (5) Quoted prices Not applicable Not applicable Real estate investments: Real estate: 121,087 Recent transaction price (8) Not applicable Not applicable Not applicable Total Level III $ 287,402 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 (1)(2) Range Weighted Average (3) Credit-oriented investments: Consumer $ 7,658 Discounted cash flow (4) Discount rate 5% – 13% 7% 64,147 Recent market information (5) Quoted prices Not applicable Not applicable Consumer Staples: 7,356 Discounted cash flow (4) Discount rate 6% – 12% 7% 23,182 Recent market information (5) Quoted prices Not applicable Not applicable Energy: 12,758 Recent market information (5) Quoted prices Not applicable Not applicable Industrials: 10,574 Discounted cash flow (4) Discount rate 5% – 7% 6% 4,230 Market approach (6) Earnings multiple (7) 5x - 7x 6x 30,531 Recent market information (5) Quoted prices Not applicable Not applicable Information 11,681 Discounted cash flow (4) Discount rate 6% – 13% 9% 5,076 Recent market information (5) Quoted prices Not applicable Not applicable Materials: 1,206 Discounted cash flow (4) Discount rate 11% – 13% 12% 15,586 Recent market information (5) Quoted prices Not applicable Not applicable Other: 13,754 Discounted cash flow (4) Discount rate 8% – 16% 12% 9,137 Recent market information (5) Quoted prices Not applicable Not applicable 20,785 Recent transaction price (8) Not applicable Not applicable Not applicable Equity investments: 3,542 Market approach (6) Earnings multiple (7) 4x – 11x 8x 1,352 Discounted cash flow (4) Discount rate 11% – 33% 14% 1,799 Recent market information (5) Quoted prices Not applicable Not applicable Total Level III $ 244,354 (1) 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. (2) Multiple of either earnings or underlying assets is the significant unobservable input used in the market approach for the fair-value measurement of distressed credit-oriented investments, credit-oriented investments in which the consolidated funds have a controlling interest in the underlying issuer, equity investments and certain real estate-oriented investments. An increase (decrease) in the multiple would result in a higher (lower) fair-value measurement. (3) The weighted average is based on the fair value of the investments included in the range. (4) 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. (5) Certain investments are valued using vendor prices or broker quotes 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. (6) A market approach is generally used to value distressed investments and investments in which the consolidated funds have a controlling interest in the underlying issuer. (7) Earnings multiples are based on comparable public companies and transactions with comparable companies. The Company typically utilizes multiples of EBITDA; however, in certain cases the Company may use other earnings multiples believed to be most relevant to the investment. The Company typically applies the multiple to trailing twelve-months’ EBITDA. However, in certain cases other earnings measures, such as pro forma EBITDA, may be utilized if deemed to be more relevant. (8) Certain investments are valued based on recent transactions, generally defined as investments purchased or sold within six months of the valuation date. The fair value may also be based on a pending transaction expected to close after the valuation date. 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, 2017, there were no changes in the valuation techniques for Level III securities. 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.

DERIVATIVES AND HEDGING

DERIVATIVES AND HEDGING	12 Months Ended
	Dec. 31, 2017
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, 2017, there were no derivatives outstanding that were designated as hedging instruments for accounting purposes. 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. The fair value of freestanding derivatives consisted of the following: Assets Liabilities Notional Fair Value Notional Fair Value As of December 31, 2017 Foreign-currency forward contracts $ 288,451 $ 5,020 $ (242,972 ) $ (13,154 ) Cross-currency swap — — (255,210 ) (7,479 ) $ 288,451 $ 5,020 $ (498,182 ) $ (20,633 ) As of December 31, 2016 Foreign-currency forward contracts $ 273,466 $ 16,142 $ (152,534 ) $ (7,805 ) Realized and unrealized gains and losses arising from freestanding derivatives were recorded in the consolidated statements of operations as follows: Year Ended December 31, 2017 2016 2015 Investment income $ (16,707 ) $ 4,630 $ — General and administrative expense (1) (14,199 ) (8,846 ) 23,554 Total gain (loss) $ (30,906 ) $ (4,216 ) $ 23,554 (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, 2017 and 2016, 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 are accounted for as a hedging instrument utilizing hedge accounting. The fair value of freestanding derivatives consisted of the following: Assets Liabilities Notional Fair Value Notional Fair Value As of December 31, 2017 Foreign-currency forward contracts $ 64,068 $ 590 $ (41,606 ) $ (817 ) Total-return and interest-rate swaps 837 49 (4,794 ) (136 ) Options and futures 15,022 92 — — $ 79,927 $ 731 $ (46,400 ) $ (953 ) As of December 31, 2016 Foreign-currency forward contracts $ 12,412 $ 216 $ (269 ) $ (4 ) Total-return and interest-rate swaps 4,729 141 (19,471 ) (1,082 ) $ 17,141 $ 357 $ (19,740 ) $ (1,086 ) The impact of derivatives held by the consolidated funds in the consolidated statements of operations was as follows: Year Ended December 31, 2017 2016 2015 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 $ (2,917 ) $ 1,909 $ 521 $ 264 $ 457,594 $ (98,420 ) Total-return and interest-rate swaps 232 378 (2,353 ) (1,416 ) (215,837 ) (38,658 ) Options and futures (4,825 ) 574 (1,293 ) 3 43,055 (30,198 ) Swaptions — — — — (2,933 ) 2,186 Total $ (7,510 ) $ 2,861 $ (3,125 ) $ (1,149 ) $ 281,879 $ (165,090 ) 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, 2017 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ 5,020 $ 5,020 $ — $ — Derivative assets of consolidated funds: Foreign-currency forward contracts 590 115 — 475 Total-return and interest-rate swaps 49 49 — — Options and futures 92 — — 92 Subtotal 731 164 — 567 Total $ 5,751 $ 5,184 $ — $ 567 Derivative Liabilities: Foreign-currency forward contracts $ (13,154 ) $ (5,020 ) $ — $ (8,134 ) Cross-currency swap (7,479 ) — — (7,479 ) Subtotal (20,633 ) (5,020 ) — (15,613 ) Derivative liabilities of consolidated funds: Foreign-currency forward contracts (817 ) (115 ) — (702 ) Total-return and interest-rate swaps (136 ) (49 ) (87 ) — Subtotal (953 ) (164 ) (87 ) (702 ) Total $ (21,586 ) $ (5,184 ) $ (87 ) $ (16,315 ) 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 )

FIXED ASSETS

FIXED ASSETS	12 Months Ended
	Dec. 31, 2017
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. The following table sets forth the Company’s fixed assets and accumulated depreciation: As of December 31, 2017 2016 Furniture, equipment and capitalized software $ 25,618 $ 18,771 Leasehold improvements 66,940 49,626 Corporate aircraft 66,120 66,277 Other 5,229 3,748 Fixed assets 163,907 138,422 Accumulated depreciation (53,744 ) (45,344 ) Fixed assets, net $ 110,163 $ 93,078

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES	12 Months Ended
	Dec. 31, 2017
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, 2017, the Company determined there was no goodwill impairment. The carrying value of goodwill was $69.3 million as of December 31, 2017 and 2016. On October 17, 2017, the Company completed a transaction in which it became the new investment adviser to two BDCs. The transaction was accounted for as an asset acquisition, with $319.4 million allocated to finite-lived amortizable contractual rights. Please see note 3 for more information. The following table summarizes the carrying value of intangible assets: As of December 31, 2017 2016 Contractual rights $ 347,452 $ 28,017 Accumulated amortization (16,301 ) (9,675 ) Intangible assets, net $ 331,151 $ 18,342 Amortization expense associated with the Company’s intangible assets was $6.6 million for the year ended December 31, 2017, and $4.0 million for each of the years ended December 31, 2016 and 2015. Amortization of intangible assets held as of December 31, 2017 is estimated to be $16.8 million for each of the years ending December 31, 2018–2020, $15.1 million for 2021 and $12.8 million for 2022. 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, 2017
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, 2017 2016 $250,000, 3.78%, issued in December 2017, payable on December 18, 2032 $ 250,000 $ — $250,000, 6.75%, issued in November 2009, payable on December 2, 2019 — 250,000 $250,000, variable-rate term loan, issued in March 2014, payable on March 31, 2021 (1) 150,000 150,000 $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 100,000 100,000 Total remaining principal 750,000 750,000 Less: Debt issuance costs (3,726 ) (4,103 ) Debt obligations $ 746,274 $ 745,897 (1) The credit agreement consists of a $ 250 million term loan, of which $ 100 million was repaid, and a $ 500 million revolving credit facility. Borrowings 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 revolving credit facility is 0.125% per annum. The credit agreement contains customary financial covenants and restrictions, including ones regarding a maximum leverage ratio and a minimum required level of assets under management (as defined in the credit agreement). As of December 31, 2017, the Company had no outstanding borrowings under the revolving credit facility. As of December 31, 2017, future scheduled principal payments of debt obligations were as follows: 2018 $ — 2019 — 2020 — 2021 150,000 2022 — Thereafter 600,000 Total $ 750,000 The Company was in compliance with all financial maintenance covenants associated with its senior notes and bank credit facility as of December 31, 2017 and 2016. 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 $762.7 million and $756.6 million as of December 31, 2017 and 2016, respectively, utilizing an average borrowing rate of 3.6% and 3.9% , respectively. As of December 31, 2017, a 10% increase in the assumed average borrowing rate would lower the estimated fair value to $739.6 million , whereas a 10% decrease would increase the estimated fair value to $786.3 million . In December 2017, the Company’s indirect subsidiary, Oaktree Capital Management, L.P., issued and sold to certain accredited investors $ 250 million of 3.78% senior notes due 2032 (the “Notes”). 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. The proceeds from the sale of the Notes and cash on hand were used to redeem the $ 250 million of 6.75% Senior Notes due 2019 and to pay the related make-whole premium to holders thereof. In connection with the Notes offering, the Company entered into a cross-currency swap agreement to euros, reducing the interest cost to 1.95% per year. The Notes provide for certain affirmative and negative covenants, including financial covenants relating to the issuer’s and guarantors’ combined leverage ratio and minimum assets under management. In addition, the Notes contain customary representations and warranties of the issuer and the guarantors, 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 July 2017, the Company agreed to guarantee a $ 17.5 million standby letter of credit extended to one of the investment funds that it manages, until such time as the fund has secured commitments or other means of collateral. As of December 31, 2017, no amounts were outstanding on the letter of credit facility. Credit Facilities of the Consolidated Funds Certain consolidated funds may maintain revolving credit facilities that are secured by the assets of the fund or 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 consolidated funds had the following debt obligations outstanding: Outstanding Amount as of December 31, Facility Capacity Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Commitment Fee Rate L/C Fee Credit Agreement 2017 2016 Senior variable rate notes $ 870,098 $ 488,997 $ 870,100 3.01% 10.7 N/A N/A Less: Debt issuance costs (7,697 ) (5,041 ) Total debt obligations, net $ 862,401 $ 483,956 As of December 31, 2017 and 2016, the consolidated funds had debt obligations with an aggregate outstanding principal balance of $870.1 million and $489.0 million , respectively. The fair value of the senior variable rate notes is a Level III valuation and aggregated $872.1 million as of December 31, 2017, using prices obtained from pricing vendors, and approximated carrying value as of December 31, 2016 due to their recent issuance date. 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. Debt Obligations of CLOs Debt obligations of CLOs represent amounts due to holders of debt securities issued by the CLOs, as well as 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, 2017 As of December 31, 2016 Fair Value (1) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Fair Value (1) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Senior secured notes $ 3,107,955 2.18% 10.7 $ 2,953,880 2.52% 10.7 Subordinated note (2) 111,637 N/A 10.8 100,330 N/A 11.6 Total CLO debt obligations $ 3,219,592 $ 3,054,210 (1) 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 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, 2017 and 2016, the fair value of CLO assets was $3.9 billion and $3.4 billion , respectively, and consisted of cash, corporate loans, corporate bonds and other securities. As of December 31, 2017, future scheduled principal or par value payments with respect to the debt obligations of CLOs were as follows: 2018 $ 47,470 2019 — 2020 — 2021 — 2022 — Thereafter 3,111,825 Total $ 3,159,295

NON-CONTROLLING REDEEMABLE INTE

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS	12 Months Ended
	Dec. 31, 2017
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, 2017 2016 2015 Beginning balance $ 344,047 $ 38,173,125 $ 41,681,155 Cumulative-effect adjustment from adoption of accounting guidance — (37,969,042 ) — Initial consolidation of a fund 296,971 34,095 — Contributions 331,764 144,060 5,796,081 Distributions (146,393 ) (56,557 ) (7,407,437 ) Net income (loss) 29,532 20,988 (1,812,539 ) Change in distributions payable 1,853 (4,227 ) 387,989 Change in accrued or deferred contributions — — 526 Foreign-currency translation and other 2,774 1,605 (472,650 ) Ending balance $ 860,548 $ 344,047 $ 38,173,125

UNITHOLDERS' CAPITAL

UNITHOLDERS' CAPITAL	12 Months Ended
	Dec. 31, 2017
Equity [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 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, 2017 and 2016, respectively, OCGH units represented 90,975,687 of the total 156,285,913 Oaktree Operating Group units and 91,758,067 of the total 154,790,343 Oaktree Operating Group units. Based on total allocable Oaktree Operating Group capital of $1,912,517 and $1,754,882 as of December 31, 2017 and 2016, respectively, the OCGH non-controlling interest was $1,113,314 and $1,040,274 . As of December 31, 2017 and 2016, non-controlling interests attributable to certain related parties and third parties was $7,923 and $10,045 , respectively. Distributions per Class A unit are set forth below: Payment Date Record Date Applicable to Quarterly Period Ended Distribution Per Unit November 10, 2017 November 6, 2017 September 30, 2017 $ 0.56 August 11, 2017 August 7, 2017 June 30, 2017 1.31 May 12, 2017 May 8, 2017 March 31, 2017 0.71 February 24, 2017 February 17, 2017 December 31, 2016 0.63 Total 2017 $ 3.21 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 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, 2017 2016 2015 Weighted average Oaktree Operating Group units outstanding (in thousands): OCGH non-controlling interest 91,643 92,122 104,427 Class A unitholders 64,148 62,565 49,324 Total weighted average units outstanding 155,791 154,687 153,751 Oaktree Operating Group net income: Net income attributable to OCGH non-controlling interest $ 422,122 $ 343,781 $ 195,162 Net income attributable to Class A unitholders 295,161 233,765 87,620 Oaktree Operating Group net income (1) $ 717,283 $ 577,546 $ 282,782 Net income attributable to Oaktree Capital Group, LLC: Oaktree Operating Group net income attributable to Class A unitholders $ 295,161 $ 233,765 $ 87,620 Non-Operating Group income (expense) 144,143 (1,176 ) (2,097 ) Income tax expense of Intermediate Holding Companies (207,810 ) (37,884 ) (14,174 ) Net income attributable to Oaktree Capital Group, LLC $ 231,494 $ 194,705 $ 71,349 (1) Oaktree Operating Group net income does not include amounts attributable to other non-controlling interests, which amounted to $2,662 , $4,696 and $10,214 for the years ended December 31, 2017, 2016 and 2015, respectively. The change in the Company’s ownership interest in the Oaktree Operating Group is set forth below: Year Ended December 31, 2017 2016 2015 Net income attributable to Oaktree Capital Group, LLC $ 231,494 $ 194,705 $ 71,349 Equity reallocation between controlling and non-controlling interests 23,151 14,388 181,539 Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests $ 254,645 $ 209,093 $ 252,888 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, 2017
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, 2017 2016 2015 Net income per Class A unit (basic and diluted): (in thousands, except per unit amounts) Net income attributable to Oaktree Capital Group, LLC $ 231,494 $ 194,705 $ 71,349 Weighted average number of Class A units outstanding (basic and diluted) 64,148 62,565 49,324 Basic and diluted net income per Class A unit $ 3.61 $ 3.11 $ 1.45 OCGH units may be exchanged on a one -for- one basis into Class A units, subject to certain restrictions. As of December 31, 2017, there were 90,975,687 OCGH units outstanding, which are vested or will vest through February 15, 2027, that ultimately may be exchanged into 90,975,687 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, 2017, 2016 and 2015. A deferred equity unit represents a special unit award that, when vested, will be settled with an unvested OCGH unit on a one -for- one basis. The number of deferred equity units that will vest is based on the achievement of certain performance targets through June 2021. Once a performance target has been met, the applicable number of OCGH units will be issued and begin to vest over 4.0 years. The holder of a deferred equity unit is not entitled to any distributions until the issuance of an OCGH unit in settlement of a deferred equity unit. As of December 31, 2017, no OCGH units were considered issuable under the terms of the arrangement; consequently, no contingently issuable units were included in the computation of diluted earnings per unit for the year ended December 31, 2017. Please see note 14 for more information. 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, 2017, 2016 and 2015, no OCGH units were considered issuable under the terms of the contingent consideration arrangement; consequently, no contingently issuable units were included in the computation of diluted earnings per unit for each of those years. Please see note 16 for more information.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2017
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, 2017, a maximum of 23,218,551 units have been authorized to be awarded pursuant to the 2011 Plan, and 11,426,213 units (including 2,000,000 EVUs and 62,047 phantom units) have been awarded under the 2011 Plan. 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 156,285,913 as of December 31, 2017. 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 2017, the Company granted 1,285,548 Class A units and 274,018 restricted OCGH units to its employees and directors, subject to annual vesting over a weighted average period of approximately 5.6 years. As of December 31, 2017, the Company expected to recognize compensation expense on its unvested Class A and OCGH unit awards of $145.6 million over a weighted average period of 4.0 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 ranged between 5.6 years in 2015 and 5.8 years in the most recent valuation in 2017. 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 20% for all OCGH units granted in 2015 through 2017. In the first quarter of 2017, the Company adopted the new accounting guidance related to share-based payment awards, as further discussed in note 2. With respect to forfeitures, the Company adopted the guidance on a modified retrospective basis and made an accounting policy election to account for forfeitures when they occur. Accordingly, no forfeitures have been assumed in the calculation of compensation expense effective January 1, 2017. Prior to adoption, the calculation of compensation expense assumed a forfeiture rate of up to 3.0% annually, based on expected employee turnover, and was revised annually or more frequently, as necessary, to adjust for actual forfeitures and to reflect expense only for those units that ultimately vest. 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, 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 39.85 Granted 1,285,548 45.42 274,018 37.15 Vested (837,254 ) 40.57 (453,136 ) 38.50 Forfeited (20,378 ) 45.59 — — Balance, December 31, 2017 2,556,316 $ 44.05 2,158,835 $ 39.79 (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 special distributions that will be settled in OCGH units, based on value created during a specified period in excess of a fixed “Base Value.” The value created will be measured on a per unit basis, based on the appreciation of the Class A units and certain components of quarterly distributions with respect to OCGH units over the period beginning on January 1, 2015 and ending on each of December 31, 2019, December 31, 2020 and December 31, 2021, with one-third of the EVUs recapitalizing on each such date. 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 liquidity rights in respect of the special distributions, if any, that will be settled in OCGH units. The Company accounts for EVUs with liquidity rights as liability-classified awards. As of December 31, 2017, there were 1,000,000 equity-classified EVUs and 1,000,000 liability-classified EVUs outstanding. As of December 31, 2017, the Company expected to recognize $3.1 million of compensation expense on its unvested EVUs over the next 2.0 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. On April 26, 2017, the terms of the EVU agreement were amended such that the value received under the EVUs will be reduced by (i) distributions received by the holder on 225,000 OCGH units granted to the holder on April 26, 2017, (ii) the value of the portion of profit sharing payments received by the holder attributable to the net incentive income received from certain funds, and (iii) the full value of the OCGH units granted to the holder on April 26, 2017. To the extent that the reduction relates to the value of any such OCGH units that are unvested at the time of the reduction, such OCGH units will vest at that time. The amendment was accounted for as a modification of an equity award in the second quarter of 2017 and resulted in $ 4.1 million of incremental compensation cost as of the modification date, which will be recognized over the remaining vesting period. The fair value of EVUs was determined using a Monte Carlo simulation model at the grant date and at modification 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. Deferred Equity Units A deferred equity unit represents a special unit award that, when vested, will be settled with an unvested OCGH unit on a one -for- one basis. The number of deferred equity units that will vest is based on the achievement of certain performance targets through June 2021. Once a performance target has been met, the applicable number of OCGH units will be issued and begin to vest over 4.0 years. The holder of a deferred equity unit is not entitled to any distributions until settled by the issuance of an OCGH unit. As of December 31, 2017, there were 250,000 deferred equity units outstanding, all of which were granted in the second quarter of 2017. As of December 31, 2017, the Company expected to recognize $2.7 million of compensation expense on its unvested deferred equity units over a weighted average period of approximately 6.0 years. Please see note 13 for more information. The fair value of the deferred equity units was determined at the grant date based on the then-prevailing Class A unit trading price and reflected a 20% lack-of-marketability discount for the OCGH units that will be issued upon vesting.

INCOME TAXES AND RELATED PAYMEN

INCOME TAXES AND RELATED PAYMENTS	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES AND RELATED PAYMENTS	INCOME TAXES AND RELATED PAYMENTS Oaktree is a publicly traded partnership and Oaktree Holdings, Inc. and Oaktree AIF Holdings, Inc., two of its Intermediate Holding Companies, are wholly-owned corporate subsidiaries. Income earned by these corporate subsidiaries is subject to U.S. federal and state income taxation and taxed at prevailing rates. Income earned by non-corporate subsidiaries is not subject to U.S. federal corporate income tax and is allocated to the Oaktree Operating Group’s unitholders. The Company’s effective tax rate is dependent on many factors, including the estimated nature of many amounts and the mix of revenues and expenses between the subsidiaries that are or are not subject to income tax; consequently, from period to period the effective tax rate is subject to significant variation. Tax Legislation On December 22, 2017, the Tax Act was enacted. The Tax Act reduced the corporate income tax rate from 35% to 21%, and included significant changes to other domestic and international corporate income tax provisions. The rate change resulted in a net reduction to net income attributable to Oaktree Capital Group, LLC of $33.2 million , comprised of $178.2 million in additional tax expense due to a reduction in the Company’s deferred tax assets and a $145.1 million benefit to other income due to a reduction in the Company’s tax receivable agreement liability. The U.S. Securities and Exchange Commission (“SEC”) Staff issued Staff Accounting Bulletin No. 118 in December 2017, which provides that in situations where a financial statement issuer does not have all necessary information to fully account for the income tax effect of the Tax Act, the issuer may record a provisional amount in its financial statements that may be subject to adjustment during a subsequent measurement period. The Company has assessed the impact of the Tax Act on its December 31, 2017 consolidated financial statements and believes the material impacts of The Act have been reflected in the above provisional amounts. The Company will continue to evaluate the impact of the Tax Act with respect to certain international provisions as well as provisions that have been identified as requiring additional technical guidance. The Company expects to complete its evaluation of the provisional amounts during the second half of 2018 as technical guidance is released and as it completes its 2017 federal and state income tax returns. Income tax expense from operations consisted of the following: Year Ended December 31, 2017 2016 2015 Current: U.S. federal income tax $ 4,085 $ 10,268 $ 1,478 State and local income tax 2,687 6,154 1,650 Foreign income tax 5,907 1,436 2,621 $ 12,679 $ 17,858 $ 5,749 Deferred: U.S. federal income tax $ 191,488 $ 23,835 $ 11,306 State and local income tax 10,928 2,110 786 Foreign income tax 347 (1,284 ) (292 ) $ 202,763 $ 24,661 $ 11,800 Total: U.S. federal income tax $ 195,573 $ 34,103 $ 12,784 State and local income tax 13,615 8,264 2,436 Foreign income tax 6,254 152 2,329 Income tax expense $ 215,442 $ 42,519 $ 17,549 The Company’s income (loss) before income taxes consisted of the following: Year Ended December 31, 2017 2016 2015 Domestic income (loss) before income taxes $ 894,911 $ 623,712 $ (1,518,108 ) Foreign income (loss) before income taxes 10,013 (15,090 ) 2,695 Total income (loss) before income taxes $ 904,924 $ 608,622 $ (1,515,413 ) The Company’s effective tax rate differed from the federal statutory rate for the following reasons: Year Ended December 31, 2017 2016 2015 Income tax expense at federal statutory rate 35.00 % 35.00 % 35.00 % Income passed through (31.61 ) (30.31 ) (35.91 ) State and local taxes, net of federal benefit 0.38 1.28 (0.17 ) Foreign taxes 0.23 0.89 (0.09 ) Deferred tax adjustment 19.76 — — Other, net 0.05 0.13 0.01 Total effective rate 23.81 % 6.99 % (1.16 )% The components of the Company’s deferred tax assets and liabilities were as follows: As of December 31, 2017 2016 2015 Deferred tax assets: Investment in partnerships $ 191,713 $ 386,796 $ 414,142 Equity-based compensation expense 3,537 4,449 3,773 Other, net 9,311 14,329 9,675 Total deferred tax assets 204,561 405,574 427,590 Total deferred tax liabilities 2,101 960 1,792 Net deferred tax assets before valuation allowance 202,460 404,614 425,798 Valuation allowance — — — Net deferred tax assets $ 202,460 $ 404,614 $ 425,798 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, 2017, 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, 2017, the total reserve balance, including interest and penalties, was $7.5 million . The following is a reconciliation of unrecognized tax benefits (excluding interest and penalties thereon): Year Ended December 31, 2017 2016 2015 Unrecognized tax benefits, January 1 $ 5,768 $ 4,956 $ 5,575 Additions for tax positions related to the current year 350 350 1,156 Additions for tax positions related to prior years — 2,121 109 Reductions for tax positions related to prior years (412 ) (79 ) — Settlements — — — Lapse in statute of limitations (1,340 ) (1,580 ) (1,884 ) Unrecognized tax benefits, December 31 $ 4,366 $ 5,768 $ 4,956 If the above tax benefits as of December 31, 2017 were to be recognized in 2017, the $4.4 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, 2017 and 2016, respectively, the aggregate amount of interest and penalties accrued was $3.2 million and $3.1 million . The Company recognized a net expense of $0.1 million and $1.6 million in 2017 and 2016, respectively, and no net change in 2015. 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 2014. Tax authorities currently are examining certain income tax returns of Oaktree, with certain of these examinations at an advanced stage. Over the next twelve months ending December 31, 2018, 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 $5.2 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, 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 further 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, 2017, are estimated to aggregate $17.3 million over the period ending approximately in 2029 with respect to the 2007 Private Offering, $36.8 million over the period ending approximately in 2034 with respect to the initial public offering, $51.1 million over the period ending approximately in 2035 with respect to the public offering in May 2013, $38.6 million over the period ending approximately in 2036 with respect to the public offering in March 2014, $32.5 million over the period ending approximately in 2037 with respect to the public offering in March 2015, and $34.3 million over the period ending approximately in 2040 with respect to the public offering in February 2018. 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, 2017, 2016 and 2015, respectively, $20.0 million , $18.8 million and $15.7 million were paid under the tax receivable agreement.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2017
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, 2017 and 2016, respectively, the aggregate of such amounts recorded at the fund level in excess of incentive income recognized by the Company was $1,918,952 and $1,970,755 , for which related direct incentive income compensation expense was estimated to be $1,000,232 and $1,026,345 . Contingent Liabilities 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, 2017 and 2016, the fair value of the contingent consideration liability was $18.8 million and $23.6 million , respectively. Changes in this liability resulted in income of $4.8 million and $4.9 million in 2017 and 2016, respectively, and expense of $1.2 million in 2015. 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. In connection with the October 2017 BDC acquisition, the Company recorded a $ 56.2 million contingent liability and a $ 56.2 million indemnification asset as part of the purchase price allocation. Please see note 3 for more information. Commitments to Funds As of December 31, 2017 and 2016, the Company, generally in its capacity as general partner, had undrawn capital commitments of $429.1 million and $565.4 million , respectively, including commitments to both unconsolidated and consolidated funds. Please see note 10 for information on the standby letter of credit the Company has agreed to guarantee on behalf of one of the investment funds that it manages. 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 $20,477 , $22,637 and $19,305 for the years ended December 31, 2017, 2016 and 2015, respectively. As of December 31, 2017, aggregate estimated minimum commitments under Oaktree’s operating leases were as follows: 2018 $ 17,775 2019 18,192 2020 17,576 2021 15,052 2022 14,576 Thereafter 74,628 Total $ 157,799 Investment Commitments of the 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, 2017 and 2016, the consolidated funds had potential aggregate commitments of $6.0 million and $2.1 million , 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, 2017 and 2016, there were no guaranteed amounts under such arrangements. 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, 2017, the consolidated funds did not provide any financial support to portfolio companies.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2017
Defined Contribution Plan [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 13.3% of total compensation, subject to prescribed limits, for employees meeting certain eligibility requirements. For the years ended December 31, 2017, 2016 and 2015, the Company incurred expenses of $9.3 million , $8.8 million and $9.1 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, 2017
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 2.0% to 3.0% , approximated the Company’s cost of debt. The fair value of amounts due to affiliates approximated $93,772 and $164,335 as of December 31, 2017 and 2016, respectively, based on a discount rate of 10.0% . As of December 31, 2017 2016 Due from affiliates: Loans $ 9,239 $ 19,325 Amounts due from unconsolidated funds 57,155 53,573 Management fees and incentive income due from unconsolidated funds 152,959 130,708 Payments made on behalf of unconsolidated entities 3,784 3,779 Non-interest bearing advances made to certain non-controlling interest holders and employees 87 1,258 Total due from affiliates $ 223,224 $ 208,643 Due to affiliates: Due to OCGH unitholders in connection with the tax receivable agreement (please see note 15) $ 176,283 $ 340,966 Amounts due to senior executives, certain non-controlling interest holders and employees 1,590 5,577 Total due to affiliates $ 177,873 $ 346,543 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 loans, 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 $451 , $906 and $2,144 for the years ended December 31, 2017, 2016 and 2015, 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. Revenues Earned From Oaktree Funds Management fees and incentive income earned from unconsolidated Oaktree funds totaled $1.4 billion , $1.0 billion and $75.2 million for the years ended December 31, 2017, 2016 and 2015, 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 in the table above within “non-interest bearing advances made to certain non-controlling interest holders and employees.” Aircraft Services The Company owns an aircraft for business purposes. Howard Marks, the Company’s co-chairman, may use this aircraft for personal travel and will reimburse the Company to the extent his use of the aircraft for personal travel exceeds a certain threshold pursuant to a Company policy adopted as of January 1, 2017. The Company also provides certain senior executives a personal travel allowance for aircraft usage up to a certain threshold. 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. 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, 2017
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 SEC 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, 2017 and 2016, respectively, there was approximately $115.5 million and $92.8 million of such potentially restricted amounts.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING As a global investment manager, the Company provides investment management services through funds and separate accounts. The Company earns revenues from the management fees and incentive income generated by the funds that it manages. Management uses a consolidated approach to assess performance and allocate resources. As such, the Company’s business is comprised of one segment, the investment management business. The Company conducts its investment management business primarily in the United States, where substantially all of its revenues are generated.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On February 6, 2018, the Company declared a distribution attributable to the fourth quarter of 2017 of $0.76 per Class A unit, bringing aggregate distributions relating to fiscal year 2017 to $3.34 . The distribution of $0.76 was paid on February 23, 2018 to Class A unitholders of record at the close of business on February 16, 2018. On February 12, 2018, the Company issued and sold 5,000,000 Class A units in a public offering, resulting in $ 219.5 million in net proceeds to the Company. The Company did not retain any proceeds from the sale of Class A units in this offering. The proceeds 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.

QUARTERLY FINANCIAL DATA (UNAU

QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Data [Abstract]
QUARTERLY FINANCIAL DATA (UNAUDITED)	QUARTERLY FINANCIAL DATA (UNAUDITED) Three Months Ended March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 Revenues $ 289,585 $ 634,055 $ 235,032 $ 311,095 Expenses (192,562 ) (423,426 ) (169,773 ) (239,582 ) Other income 77,110 90,355 82,975 210,060 Income before income taxes $ 174,133 $ 300,984 $ 148,234 $ 281,573 Net income $ 161,831 $ 295,443 $ 134,377 $ 97,831 Net income attributable to Oaktree Capital Group, LLC $ 54,915 $ 117,324 $ 45,841 $ 13,414 Net income per unit (basic and diluted): Net income per Class A unit $ 0.87 $ 1.83 $ 0.71 $ 0.21 Distributions declared per Class A unit $ 0.63 $ 0.71 $ 1.31 $ 0.56 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 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

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
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 The Company adopted the new consolidation guidance on January 1, 2016 on a modified retrospective basis. As a result, prior periods were not recast. There was no impact on retained earnings or net income attributable to the Company. Under the new consolidation guidance, 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 variable interest entity (“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 those 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 (a) 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 (b) 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. The Company does not consolidate most of the Oaktree funds because it is not the primary beneficiary of those funds due to the fact that its fee arrangements are considered at-market and thus 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. Please see note 4 for more information regarding both consolidated and unconsolidated VIEs. For entities that are not VIEs, consolidation is evaluated through a majority voting interest model. “Consolidated funds” refers to Oaktree-managed funds and CLOs that the Company 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.
Acquisitions	Acquisitions 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 acquired identifiable intangible assets 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 seven to 25 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, debt obligations of consolidated CLOs, and other investments where the fair value is based on observable inputs. • Level III – Valuations for which one or more significant inputs are unobservable. These inputs reflect the Company’s assessment of the assumptions that market participants use to value the investment based on the best available information. Level III inputs include prices of quoted securities in markets for which there are few transactions, less public information exists or prices vary among brokered market makers. The types of investments in Level III include non-publicly traded equity, debt, real estate and derivatives. In some instances, the inputs used to value an instrument may fall into multiple levels of the fair-value hierarchy. In such instances, the instrument’s level within the fair-value hierarchy is based on the lowest of the three levels (with Level III being the lowest) that is significant to the fair-value measurement. The Company’s assessment of the significance of an input requires judgment and considers factors specific to the instrument. Transfers of assets into or out of each fair value hierarchy level as a result of changes in the observability of the inputs used in measuring fair value are accounted for as of the beginning of the reporting period. Transfers resulting from a specific event, such as a reorganization or restructuring, are accounted for as of the date of the event that caused the transfer. In the absence of observable market prices, the Company values Level III investments using valuation methodologies applied on a consistent basis. The quarterly valuation process for Level III investments begins with each portfolio company, property or security being valued by the investment 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 pricing vendors or brokers. The Company seeks to obtain prices from at least two pricing vendors for the subject or similar securities. In cases where vendor pricing is not reflective of fair value, a secondary vendor is unavailable, or no vendor pricing is available, a comparison value made up of quotes for the subject or similar securities received from broker dealers may be used. 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 pricing vendors and brokers against actual prices received in transactions. In addition to ongoing monitoring and back-testing, the Company performs due diligence procedures surrounding pricing vendors to understand their methodology and controls to support their use in the valuation process. Fair Value Option The Company has elected the fair value option for certain corporate investments that otherwise would not have reflected unrealized gains and losses in current-period earnings. Such election is irrevocable and is applied on an investment-by-investment basis at initial recognition. Unrealized gains and losses resulting from changes in fair value are reflected as a component of investment income in the 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. The fair value of CLO liabilities are 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. 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 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. 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.
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, foreign-currency forwards or cross-currency swaps). 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. 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. 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, it 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. Freestanding derivatives are financial instruments that we enter into as part of our overall risk management strategy but do not utilize hedge accounting. These financial instruments may include foreign-currency exchange contracts, interest-rate swaps and other derivative contracts. 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, the Company records 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 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 freestanding derivatives, changes in fair value are recorded 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 the 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 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. 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	U.S. Treasury and Other Securities U.S. Treasury and other securities include holdings of U.S. Treasury bills, time deposit securities and commercial paper with maturities greater than three months at the date of acquisition. These securities are classified as available-for-sale and 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 may elect to delay the start of the fund’s investment period and thus its full management fees, in which case it 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, the management fee is based on the aggregate par value of collateral assets and principal cash, as defined in the applicable CLO indentures, and a portion of the management fees 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. For the publicly-traded BDCs, the management fee is based on gross assets (including assets acquired with leverage), net of cash. In the case of certain open-end fund accounts, the Company has the potential to earn performance-based fees, typically in reference to a relevant benchmark index or hurdle rate, which are classified as management fees. Management fees also include the quarterly incentive fees on investment income the Company earns from its publicly-traded BDCs and certain evergreen fund accounts, which are recurring in nature. 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 up 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, OCGH equity value units (“EVUs”) and deferred equity units, and is calculated based on the grant-date fair value of the unit award. 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. In the first quarter of 2017, the Company adopted the new accounting guidance related to share-based payment awards. With respect to forfeitures, the Company adopted the guidance on a modified retrospective basis and made an accounting policy election to account for forfeitures when they occur. Accordingly, no forfeitures have been assumed in the calculation of compensation expense effective January 1, 2017. Prior to adoption, the calculation of compensation expense assumed a forfeiture rate of up to 3.0% annually, based on expected employee turnover, and was revised annually or more frequently, as necessary, to adjust for actual forfeitures and to reflect expense only for those units that ultimately vest.
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 seven to 25 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 from a legacy Highstar fund for contractually reimbursable costs in connection with the 2014 acquisition of the Highstar Capital team and certain Highstar entities (collectively “Highstar”). The legacy Highstar fund stopped paying management fees in the fourth quarter of 2017. As a result, the Company will no longer be receiving such income. In addition, in 2017, other income (expense), net included $ 145.1 million of income related to the remeasurement of the Company’s tax receivable agreement liability in connection with the Tax Cuts and Jobs Act (the “Tax Act”) and a $ 22.0 million make-whole premium expense related to the early repayment of the Company’s $ 250.0 million 6.75% senior notes due 2019. Please see notes 10 and 15 for more information on the debt repayment and Tax Act, respectively.
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.
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.
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.
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 Financial Accounting Standards Board (“FASB”) issued guidance to simplify the accounting for goodwill impairments by eliminating step 2 of the goodwill impairment test. This step currently 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 the 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 Company adopted this guidance in the second quarter of 2017, with no impact on the 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 Company adopted this guidance in the first quarter of 2017, with no impact on the 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 Company will adopt the guidance in the first quarter of 2018 on a retrospective basis. The Company expects that adoption of this guidance will not have a material impact on the consolidated financial statements. In March 2016, the FASB issued guidance that affects several aspects of accounting for employee share-based payment awards. The amendments relate to the accounting for forfeitures, income taxes at settlement, the classification of income taxes in the statement of cash flows and net settlements for withholding tax. The amendment with respect to forfeitures allows an entity to make an accounting policy election either to estimate the number of forfeitures expected to occur or to account for forfeitures when they occur. The amendments related to income taxes require (a) all excess tax benefits and deficiencies related to share-based payment transactions to be recognized through the provision for income taxes in the consolidated statement of operations and (b) excess tax benefits related to share-based payment transactions to be presented as operating activities in the consolidated statement of cash flows with employee taxes paid classified as a financing activity. The amendments related to net settlements allow an employer to withhold shares upon settlement of an award to satisfy the employer’s tax withholding requirement in an amount up to the employees’ maximum individual tax rate in the relevant jurisdiction without resulting in liability classification of the award. The Company adopted the guidance in the first quarter of 2017. With respect to forfeitures, the Company made an accounting policy election to account for forfeitures when they occur and to adopt the guidance on a modified retrospective basis, which resulted in a $ 0.4 million increase to retained earnings and a corresponding $ 0.4 million decrease to paid in capital. Amendments relating to income taxes were adopted on a prospective basis. As a result, prior periods have not been recast. Amendments relating to net settlements were adopted on a modified retrospective basis, with no impact to the 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 adopted the guidance in the first quarter of 2017 on a prospective basis, with no impact on the 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 the consolidated statements of operations because all of the Company’s 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 consolidated statements of financial position. As of December 31, 2017, the Company’s minimum lease payments under lease obligations aggregated $157.8 million . 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 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 expects that adoption of this guidance will not have a material impact on the consolidated financial statements. In May 2014, the FASB issued guidance on revenue recognition that superseded most existing revenue recognition guidance, including industry-specific guidance. The 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 guidance, revenue is 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. The guidance also requires qualitative and quantitative disclosures about revenue that has been recognized and revenue that is expected to be recognized in the future from existing contracts, significant judgments and changes in those judgments made by management in recognizing revenue, disaggregation of revenue, and information about contract balances. The Company will adopt the guidance in the first quarter of 2018 on a modified retrospective basis. The most significant effect of the guidance for the Company relates to the recognition of incentive income. The guidance requires 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. Upon adoption, the Company expects to record a cumulative-effect increase to retained earnings by an estimated $ 48.7 million , net of tax, as of January 1, 2018, which relates to certain incentive income that would have met the “probable that significant reversal will not occur” criteria. In addition, the Company expects that certain reimbursements received from the investment funds it manages will be reported as revenues on a gross basis, with an equal offset to expenses, resulting in no impact to net income.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	The carrying value of the Company’s investments in VIEs that were not consolidated are shown below. As of December 31, 2017 2016 Corporate investments $ 930,699 $ 1,055,227 Due from affiliates 160,257 159,714 Maximum exposure to loss $ 1,090,956 $ 1,214,941

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Investments [Abstract]
Corporate Investments	Corporate investments consisted of the following: As of December 31, Corporate Investments 2017 2016 Equity-method investments: Funds $ 916,559 $ 981,209 Companies 42,294 34,932 Other investments, at fair value 50,778 107,591 Total corporate investments $ 1,009,631 $ 1,123,732 Summarized financial information of the Company’s equity-method investments is set forth below: As of December 31, Statements of Financial Condition 2017 2016 Assets: Cash and cash-equivalents $ 2,654,311 $ 3,713,045 Investments, at fair value 41,754,054 43,084,842 Other assets 2,116,751 1,994,304 Total assets $ 46,525,116 $ 48,792,191 Liabilities and Capital: Debt obligations $ 8,393,314 $ 7,372,063 Other liabilities 2,264,579 2,028,065 Total liabilities 10,657,893 9,400,128 Total capital 35,867,223 39,392,063 Total liabilities and capital $ 46,525,116 $ 48,792,191 Year Ended December 31, Statements of Operations 2017 2016 Revenues / investment income $ 1,982,828 $ 2,188,044 Interest expense (235,266 ) (176,009 ) Other expenses (821,083 ) (899,288 ) Net realized and unrealized gain on investments 3,795,102 4,065,939 Net income $ 4,721,581 $ 5,178,686
Investment Income	The components of investment income are set forth below: Year Ended December 31, Investment Income 2017 2016 2015 Equity-method investments: Funds $ 138,465 $ 123,511 $ 1,813 Companies 71,311 66,427 49,933 Other investments, at fair value (8,487 ) 9,188 212 Total investment income $ 201,289 $ 199,126 $ 51,958 The following table summarizes net gains (losses) attributable to the Company’s other investments: Year Ended December 31, 2017 2016 2015 Realized gain $ 8,439 $ 1,808 $ 1,372 Net change in unrealized gain (loss) (16,926 ) 7,380 (1,160 ) Total gain (loss) $ (8,487 ) $ 9,188 $ 212
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 2017 2016 2017 2016 United States: Debt securities: Consumer discretionary $ 796,681 $ 628,621 14.0 % 16.5 % Consumer staples 100,863 123,395 1.8 3.2 Energy 106,414 55,655 1.9 1.5 Financials 161,807 74,573 2.9 2.0 Government 3,033 5,234 0.1 0.1 Health care 416,779 337,138 7.4 8.9 Industrials 441,440 379,122 7.8 10.0 Information technology 431,010 272,637 7.6 7.2 Materials 384,310 237,417 6.8 6.2 Real estate 146,836 108,112 2.6 2.8 Telecommunication services 178,984 93,893 3.2 2.5 Utilities 117,805 76,920 2.1 2.0 Total debt securities (cost: $3,284,346 and $2,378,759 as of December 31, 2017 and 2016, respectively) 3,285,962 2,392,717 58.2 62.9 Equity securities: Consumer discretionary 1,778 711 0.0 0.0 Energy 649 2,002 0.0 0.1 Financials 3,061 3,977 0.1 0.1 Health care 527 343 0.0 0.0 Industrials 316 1 0.0 0.0 Materials — 691 — 0.0 Telecommunication services 305 — 0.0 — Utilities 1,192 — 0.0 — Total equity securities (cost: $8,102 and $5,462 as of December 31, 2017 and 2016, respectively) 7,828 7,725 0.1 0.2 Real estate: Real estate 121,588 — 2.1 — Total real estate securities (cost: $121,582 and $0 as of December 31, 2017 and 2016, respectively) 121,588 — 2.1 — Fair Value as of December 31, Fair Value as a Percentage of Investments of Consolidated Funds as of December 31, Investments 2017 2016 2017 2016 Europe: Debt securities: Consumer discretionary $ 573,270 $ 374,627 10.1 % 9.8 % Consumer staples 121,636 92,750 2.1 2.4 Energy 5,929 13,274 0.1 0.3 Financials 40,130 7,291 0.7 0.2 Government — 1,996 — 0.1 Health care 333,693 210,078 5.9 5.5 Industrials 163,972 54,578 2.9 1.4 Information technology 95,409 23,832 1.7 0.6 Materials 267,252 226,961 4.7 6.0 Real estate 12,528 6,531 0.2 0.2 Telecommunication services 278,358 214,182 4.9 5.6 Utilities 8,949 — 0.2 — Total debt securities (cost: $1,894,727 and $1,214,068 as of December 31, 2017 and 2016, respectively) 1,901,126 1,226,100 33.5 32.1 Equity securities: Consumer Staples 1,449 — 0.0 — Energy 3,827 — 0.1 — Financials 7,410 1,605 0.1 0.0 Health care 601 — 0.0 — Materials 1,622 — 0.0 — Total equity securities (cost: $12,787 and $1,494 as of December 31, 2017 and 2016, respectively) 14,909 1,605 0.2 0.0 Asia and other: Debt securities: Consumer discretionary 30,332 3,145 0.5 0.1 Consumer staples 748 5,994 0.0 0.2 Energy 10,175 9,570 0.2 0.3 Financials 20,362 — 0.4 — Government — 1,506 — 0.0 Health care 13,806 1,245 0.2 0.0 Industrials 22,935 15,450 0.4 0.4 Information technology 536 409 0.0 0.0 Materials 8,515 10,245 0.2 0.3 Real estate 6,272 — 0.1 — Telecommunication services 8,104 4,809 0.1 0.1 Utilities 769 928 0.0 0.0 Total debt securities (cost: $124,723 and $57,400 as of December 31, 2017 and 2016, respectively) 122,554 53,301 2.1 1.4 Fair Value as of December 31, Fair Value as a Percentage of Investments of Consolidated Funds as of December 31, Investments 2017 2016 2017 2016 Asia and other: Equity securities: Consumer discretionary $ 29,026 $ 7,639 0.5 % 0.2 % Consumer staples 7,279 3,786 0.1 0.1 Energy 5,551 6,978 0.1 0.2 Financials 58,632 38,242 1.2 1.0 Industrials 34,019 21,564 0.7 0.6 Information technology 23,900 16,642 0.4 0.4 Materials 28,590 19,697 0.5 0.5 Real estate 15,339 6,086 0.3 0.2 Telecommunication services 1,735 4,296 0.0 0.1 Utilities 2,502 1,856 0.0 0.1 Total equity securities (cost: $185,164 and $118,292 as of December 31, 2017 and 2016, respectively) 206,573 126,786 3.8 3.4 Total debt securities 5,309,642 3,672,118 93.8 96.4 Total equity securities 229,310 136,116 4.1 3.6 Total real estate securities 121,588 — 2.1 — Total investments, at fair value $ 5,660,540 $ 3,808,234 100.0 % 100.0 % Securities Sold Short Equity securities (proceeds: $82,502 and $41,541 as of December 31, 2017 and 2016, respectively) $ (86,467 ) $ (41,016 )
Net Gains (Losses) from Investment Activities of Consolidated Funds	The following table summarizes net gains (losses) from investment activities: Year Ended December 31, 2017 2016 2015 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 $ 27,910 $ (1,151 ) $ 30,718 $ 109,398 $ 895,271 $ (3,602,437 ) CLO liabilities (1) — 53,351 — (120,702 ) — — Foreign-currency forward contracts (2) (2,917 ) 1,909 521 264 457,594 (98,420 ) Total-return and interest-rate swaps (2) 232 378 (2,353 ) (1,416 ) (215,837 ) (38,658 ) Options and futures (2) (4,825 ) 574 (1,293 ) 3 43,055 (30,198 ) Swaptions (2)(3) — — — — (2,933 ) 2,186 Total $ 20,400 $ 55,061 $ 27,593 $ (12,453 ) $ 1,177,150 $ (3,767,527 ) (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, 2017
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, 2017 As of December 31, 2016 Level I Level II Level III Total Level I Level II Level III Total Assets U.S. Treasury and other securities (1) $ 176,602 $ — $ — $ 176,602 $ 757,578 $ — $ — $ 757,578 Corporate investments — 1,833 50,902 52,735 — 27,551 74,663 102,214 Foreign-currency forward contracts (2) — 5,020 — 5,020 — 16,142 — 16,142 Total assets $ 176,602 $ 6,853 $ 50,902 $ 234,357 $ 757,578 $ 43,693 $ 74,663 $ 875,934 Liabilities Contingent consideration (3) $ — $ — $ (18,778 ) $ (18,778 ) $ — $ — $ (23,567 ) $ (23,567 ) Foreign-currency forward contracts (4) — (13,154 ) — (13,154 ) — (7,805 ) — (7,805 ) Cross-currency swap (3) — (7,479 ) — (7,479 ) — — — — Interest-rate swaps (3) — — — — — (60 ) — (60 ) Total liabilities $ — $ (20,633 ) $ (18,778 ) $ (39,411 ) $ — $ (7,865 ) $ (23,567 ) $ (31,432 ) (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 as of December 31, 2016, 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. (4) Amounts are included in accounts payable, accrued expenses and other liabilities in the condensed consolidated statements of financial condition, except for $1,957 as of December 31, 2017, which is included within corporate investments 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, 2017 2016 Corporate Investments Contingent Consideration Liability Corporate Investments Contingent Consideration Liability Beginning balance $ 74,663 $ (23,567 ) $ 25,750 $ (28,494 ) Contributions or additions 1,871 — 43,521 — Distributions (36,283 ) — (1,470 ) — Net gain (loss) included in earnings 10,651 4,789 6,862 4,927 Ending balance $ 50,902 $ (18,778 ) $ 74,663 $ (23,567 ) Net change in unrealized gains (losses) attributable to financial instruments still held at end of period $ 3,758 $ 4,789 $ 5,913 $ 4,927
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 Total 2017 Beginning balance $ 208,868 $ 28,793 $ 6,693 $ — $ — $ — $ — $ 244,354 Transfers into Level III 19,270 1,978 — — — — — 21,248 Transfers out of Level III (48,371 ) (1,978 ) (3,280 ) — — — — (53,629 ) Purchases 62,977 83,272 163 — 123,582 — — 269,994 Sales (161,511 ) (37,942 ) (2,056 ) — (2,005 ) — — (203,514 ) Realized gains (losses), net 3,990 569 216 — 5 — — 4,780 Unrealized appreciation (depreciation), net 1,776 696 1,691 — 6 — — 4,169 Ending balance $ 86,999 $ 75,388 $ 3,427 $ — $ 121,588 $ — $ — $ 287,402 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ 1,828 $ 806 $ 1,691 $ — $ 6 $ — $ — $ 4,331 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 The table below sets forth a summary of changes in the fair value of Level III financial instruments: Year Ended December 31, 2017 2016 Corporate Investments Contingent Consideration Liability Corporate Investments Contingent Consideration Liability Beginning balance $ 74,663 $ (23,567 ) $ 25,750 $ (28,494 ) Contributions or additions 1,871 — 43,521 — Distributions (36,283 ) — (1,470 ) — Net gain (loss) included in earnings 10,651 4,789 6,862 4,927 Ending balance $ 50,902 $ (18,778 ) $ 74,663 $ (23,567 ) Net change in unrealized gains (losses) attributable to financial instruments still held at end of period $ 3,758 $ 4,789 $ 5,913 $ 4,927 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 2017 2016 Valuation Technique Range Corporate investment – Limited partnership interests $ 50,902 $ 74,663 Market approach Not applicable Not applicable Not applicable Contingent consideration liability (18,778 ) (23,567 ) Discounted cash flow Assumed % of total potential contingent payments 0% – 100% 36%
Valuation of Investments and Other Financial Instruments	The table below summarizes the investments and other financial instruments of the consolidated funds by fair-value hierarchy level: As of December 31, 2017 As of December 31, 2016 Level I Level II Level III Total Level I Level II Level III Total Assets Investments: Corporate debt – bank debt $ — $ 4,340,860 $ 86,999 $ 4,427,859 $ — $ 2,973,482 $ 208,868 $ 3,182,350 Corporate debt – all other 736 805,659 75,388 881,783 — 460,975 28,793 489,768 Equities – common stock 222,439 65 3,427 225,931 129,362 61 6,693 136,116 Equities – preferred stock 3,041 338 — 3,379 — — — — Real estate — — 121,588 121,588 — — — — Total investments 226,216 5,146,922 287,402 5,660,540 129,362 3,434,518 244,354 3,808,234 Derivatives: Foreign-currency forward contracts — 590 — 590 — 216 — 216 Swaps — 49 — 49 — 141 — 141 Options and futures 92 — — 92 — — — — Total derivatives 92 639 — 731 — 357 — 357 Total assets $ 226,308 $ 5,147,561 $ 287,402 $ 5,661,271 $ 129,362 $ 3,434,875 $ 244,354 $ 3,808,591 Liabilities CLO debt obligations: Senior secured notes (1) $ — $ (3,107,955 ) $ — $ (3,107,955 ) $ — $ (2,953,880 ) $ — $ (2,953,880 ) Subordinated notes (1) — (111,637 ) — (111,637 ) — (100,330 ) — (100,330 ) Total CLO debt obligations — (3,219,592 ) — (3,219,592 ) — (3,054,210 ) — (3,054,210 ) Securities sold short: Equity securities (86,467 ) — — (86,467 ) (41,016 ) — — (41,016 ) Derivatives: Foreign-currency forward contracts — (817 ) — (817 ) — (4 ) — (4 ) Swaps — (136 ) — (136 ) — (1,082 ) — (1,082 ) Total derivatives — (953 ) — (953 ) — (1,086 ) — (1,086 ) Total liabilities $ (86,467 ) $ (3,220,545 ) $ — $ (3,307,012 ) $ (41,016 ) $ (3,055,296 ) $ — $ (3,096,312 ) (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, 2017: Investment Type Fair Value Valuation Technique Significant Unobservable (1)(2) Range Weighted Average (3) Credit-oriented investments: Financials: $ 53,732 Recent market information (5) Quoted prices Not applicable Not applicable Industrials: 14,563 Discounted cash flow (4) Discount rate 6% – 11% 7% 3,782 Recent market information (5) Quoted prices Not applicable Not applicable Information 5,331 Discounted cash flow (4) Discount rate 11% – 13% 12% 13,965 Recent market information (5) Quoted prices Not applicable Not applicable Real estate: 2,897 Discounted cash flow (4) Discount rate 11% – 13% 12% 22,297 Recent market information (5) Quoted prices Not applicable Not applicable 327 Recent transaction price (8) Not applicable Not applicable Not applicable Other: 15,881 Discounted cash flow (4) Discount rate 8% – 20% 12% 660 Market approach (6) Earnings multiple (7) 8x – 10x 9x 29,452 Recent market information (5) Quoted prices Not applicable Not applicable Equity investments: 378 Market approach (6) Earnings multiple (7) 9x – 11x 10x 1,343 Discounted cash flow (4) Discount rate 11% – 30% 13% 1,707 Recent market information (5) Quoted prices Not applicable Not applicable Real estate investments: Real estate: 121,087 Recent transaction price (8) Not applicable Not applicable Not applicable Total Level III $ 287,402 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 (1)(2) Range Weighted Average (3) Credit-oriented investments: Consumer $ 7,658 Discounted cash flow (4) Discount rate 5% – 13% 7% 64,147 Recent market information (5) Quoted prices Not applicable Not applicable Consumer Staples: 7,356 Discounted cash flow (4) Discount rate 6% – 12% 7% 23,182 Recent market information (5) Quoted prices Not applicable Not applicable Energy: 12,758 Recent market information (5) Quoted prices Not applicable Not applicable Industrials: 10,574 Discounted cash flow (4) Discount rate 5% – 7% 6% 4,230 Market approach (6) Earnings multiple (7) 5x - 7x 6x 30,531 Recent market information (5) Quoted prices Not applicable Not applicable Information 11,681 Discounted cash flow (4) Discount rate 6% – 13% 9% 5,076 Recent market information (5) Quoted prices Not applicable Not applicable Materials: 1,206 Discounted cash flow (4) Discount rate 11% – 13% 12% 15,586 Recent market information (5) Quoted prices Not applicable Not applicable Other: 13,754 Discounted cash flow (4) Discount rate 8% – 16% 12% 9,137 Recent market information (5) Quoted prices Not applicable Not applicable 20,785 Recent transaction price (8) Not applicable Not applicable Not applicable Equity investments: 3,542 Market approach (6) Earnings multiple (7) 4x – 11x 8x 1,352 Discounted cash flow (4) Discount rate 11% – 33% 14% 1,799 Recent market information (5) Quoted prices Not applicable Not applicable Total Level III $ 244,354 (1) 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. (2) Multiple of either earnings or underlying assets is the significant unobservable input used in the market approach for the fair-value measurement of distressed credit-oriented investments, credit-oriented investments in which the consolidated funds have a controlling interest in the underlying issuer, equity investments and certain real estate-oriented investments. An increase (decrease) in the multiple would result in a higher (lower) fair-value measurement. (3) The weighted average is based on the fair value of the investments included in the range. (4) 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. (5) Certain investments are valued using vendor prices or broker quotes 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. (6) A market approach is generally used to value distressed investments and investments in which the consolidated funds have a controlling interest in the underlying issuer. (7) Earnings multiples are based on comparable public companies and transactions with comparable companies. The Company typically utilizes multiples of EBITDA; however, in certain cases the Company may use other earnings multiples believed to be most relevant to the investment. The Company typically applies the multiple to trailing twelve-months’ EBITDA. However, in certain cases other earnings measures, such as pro forma EBITDA, may be utilized if deemed to be more relevant. (8) Certain investments are valued based on recent transactions, generally defined as investments purchased or sold within six months of the valuation date. The fair value may also be based on a pending transaction expected to close after the valuation date.

DERIVATIVES AND HEDGING (Tables

DERIVATIVES AND HEDGING (Tables)	12 Months Ended
	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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, 2017 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ 5,020 $ 5,020 $ — $ — Derivative assets of consolidated funds: Foreign-currency forward contracts 590 115 — 475 Total-return and interest-rate swaps 49 49 — — Options and futures 92 — — 92 Subtotal 731 164 — 567 Total $ 5,751 $ 5,184 $ — $ 567 Derivative Liabilities: Foreign-currency forward contracts $ (13,154 ) $ (5,020 ) $ — $ (8,134 ) Cross-currency swap (7,479 ) — — (7,479 ) Subtotal (20,633 ) (5,020 ) — (15,613 ) Derivative liabilities of consolidated funds: Foreign-currency forward contracts (817 ) (115 ) — (702 ) Total-return and interest-rate swaps (136 ) (49 ) (87 ) — Subtotal (953 ) (164 ) (87 ) (702 ) Total $ (21,586 ) $ (5,184 ) $ (87 ) $ (16,315 ) 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 ) The fair value of freestanding derivatives consisted of the following: Assets Liabilities Notional Fair Value Notional Fair Value As of December 31, 2017 Foreign-currency forward contracts $ 288,451 $ 5,020 $ (242,972 ) $ (13,154 ) Cross-currency swap — — (255,210 ) (7,479 ) $ 288,451 $ 5,020 $ (498,182 ) $ (20,633 ) As of December 31, 2016 Foreign-currency forward contracts $ 273,466 $ 16,142 $ (152,534 ) $ (7,805 ) The fair value of freestanding derivatives consisted of the following: Assets Liabilities Notional Fair Value Notional Fair Value As of December 31, 2017 Foreign-currency forward contracts $ 64,068 $ 590 $ (41,606 ) $ (817 ) Total-return and interest-rate swaps 837 49 (4,794 ) (136 ) Options and futures 15,022 92 — — $ 79,927 $ 731 $ (46,400 ) $ (953 ) As of December 31, 2016 Foreign-currency forward contracts $ 12,412 $ 216 $ (269 ) $ (4 ) Total-return and interest-rate swaps 4,729 141 (19,471 ) (1,082 ) $ 17,141 $ 357 $ (19,740 ) $ (1,086 )
Summary of Impact of Derivative Instruments on Condensed Consolidated Statement of Operations	Realized and unrealized gains and losses arising from freestanding derivatives were recorded in the consolidated statements of operations as follows: Year Ended December 31, 2017 2016 2015 Investment income $ (16,707 ) $ 4,630 $ — General and administrative expense (1) (14,199 ) (8,846 ) 23,554 Total gain (loss) $ (30,906 ) $ (4,216 ) $ 23,554 (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. The impact of derivatives held by the consolidated funds in the consolidated statements of operations was as follows: Year Ended December 31, 2017 2016 2015 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 $ (2,917 ) $ 1,909 $ 521 $ 264 $ 457,594 $ (98,420 ) Total-return and interest-rate swaps 232 378 (2,353 ) (1,416 ) (215,837 ) (38,658 ) Options and futures (4,825 ) 574 (1,293 ) 3 43,055 (30,198 ) Swaptions — — — — (2,933 ) 2,186 Total $ (7,510 ) $ 2,861 $ (3,125 ) $ (1,149 ) $ 281,879 $ (165,090 )

FIXED ASSETS (Tables)

FIXED ASSETS (Tables)	12 Months Ended
	Dec. 31, 2017
Property, Plant and Equipment [Abstract]
FIXED ASSETS	The following table sets forth the Company’s fixed assets and accumulated depreciation: As of December 31, 2017 2016 Furniture, equipment and capitalized software $ 25,618 $ 18,771 Leasehold improvements 66,940 49,626 Corporate aircraft 66,120 66,277 Other 5,229 3,748 Fixed assets 163,907 138,422 Accumulated depreciation (53,744 ) (45,344 ) Fixed assets, net $ 110,163 $ 93,078

GOODWILL AND INTANGIBLES (Table

GOODWILL AND INTANGIBLES (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLES	The following table summarizes the carrying value of intangible assets: As of December 31, 2017 2016 Contractual rights $ 347,452 $ 28,017 Accumulated amortization (16,301 ) (9,675 ) Intangible assets, net $ 331,151 $ 18,342

DEBT OBLIGATIONS AND CREDIT F37

DEBT OBLIGATIONS AND CREDIT FACILITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Debt Obligations	The consolidated funds had the following debt obligations outstanding: Outstanding Amount as of December 31, Facility Capacity Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Commitment Fee Rate L/C Fee Credit Agreement 2017 2016 Senior variable rate notes $ 870,098 $ 488,997 $ 870,100 3.01% 10.7 N/A N/A Less: Debt issuance costs (7,697 ) (5,041 ) Total debt obligations, net $ 862,401 $ 483,956 The Company’s debt obligations are set forth below: As of December 31, 2017 2016 $250,000, 3.78%, issued in December 2017, payable on December 18, 2032 $ 250,000 $ — $250,000, 6.75%, issued in November 2009, payable on December 2, 2019 — 250,000 $250,000, variable-rate term loan, issued in March 2014, payable on March 31, 2021 (1) 150,000 150,000 $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 100,000 100,000 Total remaining principal 750,000 750,000 Less: Debt issuance costs (3,726 ) (4,103 ) Debt obligations $ 746,274 $ 745,897 (1) The credit agreement consists of a $ 250 million term loan, of which $ 100 million was repaid, and a $ 500 million revolving credit facility. Borrowings 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 revolving credit facility is 0.125% per annum. The credit agreement contains customary financial covenants and restrictions, including ones regarding a maximum leverage ratio and a minimum required level of assets under management (as defined in the credit agreement). As of December 31, 2017, the Company had no outstanding borrowings under the revolving credit facility. The table below sets forth the outstanding debt obligations of CLOs as of the date indicated. As of December 31, 2017 As of December 31, 2016 Fair Value (1) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Fair Value (1) Weighted Average Interest Rate Weighted Average Remaining Maturity (years) Senior secured notes $ 3,107,955 2.18% 10.7 $ 2,953,880 2.52% 10.7 Subordinated note (2) 111,637 N/A 10.8 100,330 N/A 11.6 Total CLO debt obligations $ 3,219,592 $ 3,054,210 (1) 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 subordinated notes do not have a contractual interest rate; instead, they receive distributions from the excess cash flows generated by the CLO.
Future Principal Payments of Debt Obligations	As of December 31, 2017, future scheduled principal payments of debt obligations were as follows: 2018 $ — 2019 — 2020 — 2021 150,000 2022 — Thereafter 600,000 Total $ 750,000 As of December 31, 2017, future scheduled principal or par value payments with respect to the debt obligations of CLOs were as follows: 2018 $ 47,470 2019 — 2020 — 2021 — 2022 — Thereafter 3,111,825 Total $ 3,159,295

NON-CONTROLLING REDEEMABLE IN38

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 2016 2015 Beginning balance $ 344,047 $ 38,173,125 $ 41,681,155 Cumulative-effect adjustment from adoption of accounting guidance — (37,969,042 ) — Initial consolidation of a fund 296,971 34,095 — Contributions 331,764 144,060 5,796,081 Distributions (146,393 ) (56,557 ) (7,407,437 ) Net income (loss) 29,532 20,988 (1,812,539 ) Change in distributions payable 1,853 (4,227 ) 387,989 Change in accrued or deferred contributions — — 526 Foreign-currency translation and other 2,774 1,605 (472,650 ) Ending balance $ 860,548 $ 344,047 $ 38,173,125

UNITHOLDERS' CAPITAL (Tables)

UNITHOLDERS' CAPITAL (Tables)	12 Months Ended
	Dec. 31, 2017
Equity [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 10, 2017 November 6, 2017 September 30, 2017 $ 0.56 August 11, 2017 August 7, 2017 June 30, 2017 1.31 May 12, 2017 May 8, 2017 March 31, 2017 0.71 February 24, 2017 February 17, 2017 December 31, 2016 0.63 Total 2017 $ 3.21 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
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, 2017 2016 2015 Weighted average Oaktree Operating Group units outstanding (in thousands): OCGH non-controlling interest 91,643 92,122 104,427 Class A unitholders 64,148 62,565 49,324 Total weighted average units outstanding 155,791 154,687 153,751 Oaktree Operating Group net income: Net income attributable to OCGH non-controlling interest $ 422,122 $ 343,781 $ 195,162 Net income attributable to Class A unitholders 295,161 233,765 87,620 Oaktree Operating Group net income (1) $ 717,283 $ 577,546 $ 282,782 Net income attributable to Oaktree Capital Group, LLC: Oaktree Operating Group net income attributable to Class A unitholders $ 295,161 $ 233,765 $ 87,620 Non-Operating Group income (expense) 144,143 (1,176 ) (2,097 ) Income tax expense of Intermediate Holding Companies (207,810 ) (37,884 ) (14,174 ) Net income attributable to Oaktree Capital Group, LLC $ 231,494 $ 194,705 $ 71,349 (1) Oaktree Operating Group net income does not include amounts attributable to other non-controlling interests, which amounted to $2,662 , $4,696 and $10,214 for the years ended December 31, 2017, 2016 and 2015, 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, 2017 2016 2015 Net income attributable to Oaktree Capital Group, LLC $ 231,494 $ 194,705 $ 71,349 Equity reallocation between controlling and non-controlling interests 23,151 14,388 181,539 Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests $ 254,645 $ 209,093 $ 252,888

EARNINGS PER UNIT (Tables)

EARNINGS PER UNIT (Tables)	12 Months Ended
	Dec. 31, 2017
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, 2017 2016 2015 Net income per Class A unit (basic and diluted): (in thousands, except per unit amounts) Net income attributable to Oaktree Capital Group, LLC $ 231,494 $ 194,705 $ 71,349 Weighted average number of Class A units outstanding (basic and diluted) 64,148 62,565 49,324 Basic and diluted net income per Class A unit $ 3.61 $ 3.11 $ 1.45

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2017
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, 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 39.85 Granted 1,285,548 45.42 274,018 37.15 Vested (837,254 ) 40.57 (453,136 ) 38.50 Forfeited (20,378 ) 45.59 — — Balance, December 31, 2017 2,556,316 $ 44.05 2,158,835 $ 39.79 (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, 2017
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense	Income tax expense from operations consisted of the following: Year Ended December 31, 2017 2016 2015 Current: U.S. federal income tax $ 4,085 $ 10,268 $ 1,478 State and local income tax 2,687 6,154 1,650 Foreign income tax 5,907 1,436 2,621 $ 12,679 $ 17,858 $ 5,749 Deferred: U.S. federal income tax $ 191,488 $ 23,835 $ 11,306 State and local income tax 10,928 2,110 786 Foreign income tax 347 (1,284 ) (292 ) $ 202,763 $ 24,661 $ 11,800 Total: U.S. federal income tax $ 195,573 $ 34,103 $ 12,784 State and local income tax 13,615 8,264 2,436 Foreign income tax 6,254 152 2,329 Income tax expense $ 215,442 $ 42,519 $ 17,549
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, 2017 2016 2015 Domestic income (loss) before income taxes $ 894,911 $ 623,712 $ (1,518,108 ) Foreign income (loss) before income taxes 10,013 (15,090 ) 2,695 Total income (loss) before income taxes $ 904,924 $ 608,622 $ (1,515,413 )
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, 2017 2016 2015 Income tax expense at federal statutory rate 35.00 % 35.00 % 35.00 % Income passed through (31.61 ) (30.31 ) (35.91 ) State and local taxes, net of federal benefit 0.38 1.28 (0.17 ) Foreign taxes 0.23 0.89 (0.09 ) Deferred tax adjustment 19.76 — — Other, net 0.05 0.13 0.01 Total effective rate 23.81 % 6.99 % (1.16 )%
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, 2017 2016 2015 Deferred tax assets: Investment in partnerships $ 191,713 $ 386,796 $ 414,142 Equity-based compensation expense 3,537 4,449 3,773 Other, net 9,311 14,329 9,675 Total deferred tax assets 204,561 405,574 427,590 Total deferred tax liabilities 2,101 960 1,792 Net deferred tax assets before valuation allowance 202,460 404,614 425,798 Valuation allowance — — — Net deferred tax assets $ 202,460 $ 404,614 $ 425,798
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, 2017 2016 2015 Unrecognized tax benefits, January 1 $ 5,768 $ 4,956 $ 5,575 Additions for tax positions related to the current year 350 350 1,156 Additions for tax positions related to prior years — 2,121 109 Reductions for tax positions related to prior years (412 ) (79 ) — Settlements — — — Lapse in statute of limitations (1,340 ) (1,580 ) (1,884 ) Unrecognized tax benefits, December 31 $ 4,366 $ 5,768 $ 4,956

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	As of December 31, 2017, aggregate estimated minimum commitments under Oaktree’s operating leases were as follows: 2018 $ 17,775 2019 18,192 2020 17,576 2021 15,052 2022 14,576 Thereafter 74,628 Total $ 157,799

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Amounts Due from and Due to Affiliates	As of December 31, 2017 2016 Due from affiliates: Loans $ 9,239 $ 19,325 Amounts due from unconsolidated funds 57,155 53,573 Management fees and incentive income due from unconsolidated funds 152,959 130,708 Payments made on behalf of unconsolidated entities 3,784 3,779 Non-interest bearing advances made to certain non-controlling interest holders and employees 87 1,258 Total due from affiliates $ 223,224 $ 208,643 Due to affiliates: Due to OCGH unitholders in connection with the tax receivable agreement (please see note 15) $ 176,283 $ 340,966 Amounts due to senior executives, certain non-controlling interest holders and employees 1,590 5,577 Total due to affiliates $ 177,873 $ 346,543

QUARTERLY FINANCIAL DATA (Table

QUARTERLY FINANCIAL DATA (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Data [Abstract]
Schedule of Quarterly Financial Information	QUARTERLY FINANCIAL DATA (UNAUDITED) Three Months Ended March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 Revenues $ 289,585 $ 634,055 $ 235,032 $ 311,095 Expenses (192,562 ) (423,426 ) (169,773 ) (239,582 ) Other income 77,110 90,355 82,975 210,060 Income before income taxes $ 174,133 $ 300,984 $ 148,234 $ 281,573 Net income $ 161,831 $ 295,443 $ 134,377 $ 97,831 Net income attributable to Oaktree Capital Group, LLC $ 54,915 $ 117,324 $ 45,841 $ 13,414 Net income per unit (basic and diluted): Net income per Class A unit $ 0.87 $ 1.83 $ 0.71 $ 0.21 Distributions declared per Class A unit $ 0.63 $ 0.71 $ 1.31 $ 0.56 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 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

ORGANIZATION AND BASIS OF PRE46

ORGANIZATION AND BASIS OF PRESENTATION - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2017partnership_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 ACCOUN47

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Non-controlling Redeemable Interests in Consolidated Funds) (Details)	12 Months Ended
	Dec. 31, 2017
Minimum
Variable Interest Entity [Line Items]
Withdrawal period	1 month
Maximum
Variable Interest Entity [Line Items]
Withdrawal period	3 years

SUMMARY OF SIGNIFICANT ACCOUN48

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Goodwill and Intangible Assets) (Details) - Contractual Rights to Earn Future Fee Income	12 Months Ended
	Dec. 31, 2017
Minimum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	7 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Useful lives (in years)	25 years

SUMMARY OF SIGNIFICANT ACCOUN49

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Management Fees) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net Investment Income [Line Items]
Ancillary fees recognized	$ 29.7	$ 32.5	$ 26.6
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 ACCOUN50

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Incentive Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
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	$ 20.6	$ 16.8
Maximum
Net Investment Income [Line Items]
Incentive income, evergreen funds (as a percent)	20.00%

SUMMARY OF SIGNIFICANT ACCOUN51

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Incentive Income Compensation Expense) (Details)	12 Months Ended
	Dec. 31, 2017
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 ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Equity-based Compensation) (Details)	12 Months Ended
	Dec. 31, 2017
OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture rate (up to)	3.00%

SUMMARY OF SIGNIFICANT ACCOUN53

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Depreciation and Amortization) (Details)	12 Months Ended
	Dec. 31, 2017
Acquired Intangibles | Minimum
Property, Plant and Equipment [Line Items]
Useful lives (in years)	7 years
Acquired Intangibles | Maximum
Property, Plant and Equipment [Line Items]
Useful lives (in years)	25 years
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

SUMMARY OF SIGNIFICANT ACCOUN54

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Other Income (Expense), Net) (Details) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Income tax benefit related to Tax Act, tax receivable liability		$ 145,100
$250,000, 6.75%, issued in November 2009, payable on December 2, 2019
Debt Instrument [Line Items]
Stated rate	6.75%	6.75%
Oaktree Capital Group Excluding Consolidated Funds
Debt Instrument [Line Items]
Debt redeemed		$ 250,000	$ 200,000	$ 0
Oaktree Capital Group Excluding Consolidated Funds | $250,000, 6.75%, issued in November 2009, payable on December 2, 2019
Debt Instrument [Line Items]
Make-whole premium expense related to early repayment of debt		22,000
Debt redeemed	$ 250,000	$ 250,000
Stated rate	6.75%	6.75%

SUMMARY OF SIGNIFICANT ACCOUN55

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Recent Accounting Developments) (Details) - USD ($) $ in Thousands	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment from adoption of accounting guidance			$ 0	$ (122,621)
Minimum lease payments under lease obligations		$ 157,799
Retained Earnings (Accumulated Deficit)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment from adoption of accounting guidance			352	$ 0
Retained Earnings (Accumulated Deficit) | Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment from adoption of accounting guidance			400
Paid-in Capital | Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment from adoption of accounting guidance			$ (400)
Scenario, Forecast | Retained Earnings (Accumulated Deficit) | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative-effect adjustment from adoption of accounting guidance	$ 48,700

ACQUISITIONS (Details)

ACQUISITIONS (Details) $ in Millions	Oct. 17, 2017USD ($)company
Asset Acquisitions [Line Items]
Finite-lived contractual rights	$ 319.4
Fifth Street Management LLC
Asset Acquisitions [Line Items]
Number of companies acquired | company	2
Cash purchase price	$ 320
Net purchase price	319.4
Finite-lived contractual rights	319.4
Indemnification assets	56.2
Contingent liabilities	$ 56.2

VARIABLE INTEREST ENTITIES (Det

VARIABLE INTEREST ENTITIES (Details) - Consolidated VIEs $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)entity	Dec. 31, 2016entity
Variable Interest Entity [Line Items]
Number of VIE's consolidated (in entity)	21	17
VIE consolidated assets | $	$ 6,200
VIE consolidated liabilities | $	4,800
Maximum loss exposure | $	$ 493.8
Funds Managed By Oaktree
Variable Interest Entity [Line Items]
Number of VIE's consolidated (in entity)	12
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)	20

VARIABLE INTEREST ENTITIES - VI

VARIABLE INTEREST ENTITIES - VIEs Not Consolidated (Details) - Unconsolidated VIEs - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 1,090,956	$ 1,214,941
Corporate investments
Variable Interest Entity [Line Items]
Maximum exposure to loss	930,699	1,055,227
Due from affiliates
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 160,257	$ 159,714

INVESTMENTS - Corporate Investm

INVESTMENTS - Corporate Investments (Details) - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investment [Line Items]
Other investments, at fair value	$ 50,778	$ 107,591
Total corporate investments	1,009,631	1,123,732
Funds
Investment [Line Items]
Equity-method investments	916,559	981,209
Companies
Investment [Line Items]
Equity-method investments	$ 42,294	$ 34,932

INVESTMENTS - Investment Income

INVESTMENTS - Investment Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Other investments, at fair value	$ (8,487)	$ 9,188	$ 212
Total investment income	201,289	199,126	51,958
Funds
Schedule of Equity Method Investments [Line Items]
Equity-method investments	138,465	123,511	1,813
Companies
Schedule of Equity Method Investments [Line Items]
Equity-method investments	$ 71,311	$ 66,427	$ 49,933

INVESTMENTS - Additional Inform

INVESTMENTS - Additional Information (Detail)	Dec. 31, 2017
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 - Equity-method Inv

INVESTMENTS - Equity-method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Assets:
Cash and cash-equivalents	$ 2,654,311	$ 3,713,045
Investments, at fair value	41,754,054	43,084,842
Other assets	2,116,751	1,994,304
Total assets	46,525,116	48,792,191
Liabilities and Capital:
Debt obligations	8,393,314	7,372,063
Other liabilities	2,264,579	2,028,065
Total liabilities	10,657,893	9,400,128
Total capital	35,867,223	39,392,063
Total liabilities and capital	46,525,116	48,792,191
Statements of Operations
Revenues / investment income	1,982,828	2,188,044
Interest expense	(235,266)	(176,009)
Other expenses	(821,083)	(899,288)
Net realized and unrealized gain on investments	3,795,102	4,065,939
Net income	$ 4,721,581	$ 5,178,686

INVESTMENTS - Other Investments

INVESTMENTS - Other Investments (Details) - Other Investments, at Fair Value - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Investment [Line Items]
Realized gain	$ 8,439	$ 1,808	$ 1,372
Net change in unrealized gain (loss)	(16,926)	7,380	(1,160)
Total gain (loss)	$ (8,487)	$ 9,188	$ 212

INVESTMENTS - Investments, at F

INVESTMENTS - Investments, at Fair Value (Detail) - Consolidated Funds - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Schedule Of Investments In Marketable Securities [Line Items]
Real Estate, Fair Value	$ 121,588	$ 0
Real Estate, Fair Value as a Percentage of Investments of Consolidated Funds	2.10%	0.00%
Total investments, Fair value	$ 5,660,540	$ 3,808,234
Total investments, Fair Value as a Percentage of Consolidated Funds	100.00%	100.00%
Securities Sold Short	$ (86,467)	$ (41,016)
Proceeds from securities sold short	82,502	41,541
Debt securities
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 5,309,642	$ 3,672,118
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	93.80%	96.40%
Equity securities
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 229,310	$ 136,116
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	4.10%	3.60%
Securities Sold Short	$ (86,467)	$ (41,016)
United States
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, cost	3,284,346	2,378,759
Equity securities, cost	8,102	5,462
Real Estate, Fair Value	$ 121,588	$ 0
Real Estate, Fair Value as a Percentage of Investments of Consolidated Funds	2.10%	0.00%
Real Estate, Cost	$ 121,582	$ 0
United States | Debt securities
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 3,285,962	$ 2,392,717
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	58.20%	62.90%
United States | Debt securities | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 796,681	$ 628,621
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	14.00%	16.50%
United States | Debt securities | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 100,863	$ 123,395
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	1.80%	3.20%
United States | Debt securities | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 106,414	$ 55,655
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	1.90%	1.50%
United States | Debt securities | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 161,807	$ 74,573
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	2.90%	2.00%
United States | Debt securities | Government
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 3,033	$ 5,234
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.10%	0.10%
United States | Debt securities | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 416,779	$ 337,138
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	7.40%	8.90%
United States | Debt securities | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 441,440	$ 379,122
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	7.80%	10.00%
United States | Debt securities | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 431,010	$ 272,637
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	7.60%	7.20%
United States | Debt securities | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 384,310	$ 237,417
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	6.80%	6.20%
United States | Debt securities | Real estate
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 146,836	$ 108,112
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	2.60%	2.80%
United States | Debt securities | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 178,984	$ 93,893
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	3.20%	2.50%
United States | Debt securities | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 117,805	$ 76,920
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	2.10%	2.00%
United States | Equity securities
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 7,828	$ 7,725
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.10%	0.20%
United States | Equity securities | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 1,778	$ 711
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
United States | Equity securities | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 649	$ 2,002
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.10%
United States | Equity securities | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 3,061	$ 3,977
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.10%	0.10%
United States | Equity securities | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 527	$ 343
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
United States | Equity securities | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 316	$ 1
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
United States | Equity securities | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 0	$ 691
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
United States | Equity securities | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 305	$ 0
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
United States | Equity securities | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 1,192	$ 0
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
Europe
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, cost	$ 1,894,727	$ 1,214,068
Equity securities, cost	12,787	1,494
Europe | Debt securities
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 1,901,126	$ 1,226,100
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	33.50%	32.10%
Europe | Debt securities | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 573,270	$ 374,627
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	10.10%	9.80%
Europe | Debt securities | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 121,636	$ 92,750
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	2.10%	2.40%
Europe | Debt securities | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 5,929	$ 13,274
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.10%	0.30%
Europe | Debt securities | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 40,130	$ 7,291
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.70%	0.20%
Europe | Debt securities | Government
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 0	$ 1,996
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.10%
Europe | Debt securities | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 333,693	$ 210,078
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	5.90%	5.50%
Europe | Debt securities | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 163,972	$ 54,578
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	2.90%	1.40%
Europe | Debt securities | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 95,409	$ 23,832
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	1.70%	0.60%
Europe | Debt securities | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 267,252	$ 226,961
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	4.70%	6.00%
Europe | Debt securities | Real estate
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 12,528	$ 6,531
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.20%	0.20%
Europe | Debt securities | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 278,358	$ 214,182
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	4.90%	5.60%
Europe | Debt securities | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 8,949	$ 0
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.20%	0.00%
Europe | Equity securities
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 14,909	$ 1,605
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.20%	0.00%
Europe | Equity securities | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 1,449	$ 0
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
Europe | Equity securities | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 3,827	$ 0
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.10%	0.00%
Europe | Equity securities | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 7,410	$ 1,605
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.10%	0.00%
Europe | Equity securities | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 601	$ 0
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
Europe | Equity securities | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 1,622	$ 0
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
Asia and other
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, cost	$ 124,723	$ 57,400
Equity securities, cost	185,164	118,292
Asia and other | Debt securities
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 122,554	$ 53,301
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	2.10%	1.40%
Asia and other | Debt securities | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 30,332	$ 3,145
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.50%	0.10%
Asia and other | Debt securities | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 748	$ 5,994
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.20%
Asia and other | Debt securities | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 10,175	$ 9,570
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.20%	0.30%
Asia and other | Debt securities | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 20,362	$ 0
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.40%	0.00%
Asia and other | Debt securities | Government
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 0	$ 1,506
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
Asia and other | Debt securities | Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 13,806	$ 1,245
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.20%	0.00%
Asia and other | Debt securities | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 22,935	$ 15,450
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.40%	0.40%
Asia and other | Debt securities | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 536	$ 409
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
Asia and other | Debt securities | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 8,515	$ 10,245
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.20%	0.30%
Asia and other | Debt securities | Real estate
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 6,272	$ 0
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.10%	0.00%
Asia and other | Debt securities | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 8,104	$ 4,809
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.10%	0.10%
Asia and other | Debt securities | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt, Fair Value	$ 769	$ 928
Debt, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.00%
Asia and other | Equity securities
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 206,573	$ 126,786
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	3.80%	3.40%
Asia and other | Equity securities | Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 29,026	$ 7,639
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.50%	0.20%
Asia and other | Equity securities | Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 7,279	$ 3,786
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.10%	0.10%
Asia and other | Equity securities | Energy
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 5,551	$ 6,978
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.10%	0.20%
Asia and other | Equity securities | Financials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 58,632	$ 38,242
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	1.20%	1.00%
Asia and other | Equity securities | Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 34,019	$ 21,564
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.70%	0.60%
Asia and other | Equity securities | Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 23,900	$ 16,642
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.40%	0.40%
Asia and other | Equity securities | Materials
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 28,590	$ 19,697
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.50%	0.50%
Asia and other | Equity securities | Real estate
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 15,339	$ 6,086
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.30%	0.20%
Asia and other | Equity securities | Telecommunication services
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 1,735	$ 4,296
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.10%
Asia and other | Equity securities | Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Equity Securities, Fair Value	$ 2,502	$ 1,856
Equity Securities, Fair Value as a Percentage of Investments of Consolidated Funds	0.00%	0.10%

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	$ 20,400	$ 27,593	$ 1,177,150
Net Change in Unrealized Appreciation (Depreciation) on Investments	55,061	(12,453)	(3,767,527)
Investments and other financial instruments
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	27,910	30,718	895,271
Net Change in Unrealized Appreciation (Depreciation) on Investments	(1,151)	109,398	(3,602,437)
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	53,351	(120,702)	0
Foreign-currency forward contracts
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	(2,917)	521	457,594
Net Change in Unrealized Appreciation (Depreciation) on Investments	1,909	264	(98,420)
Total-return and interest-rate swaps
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	232	(2,353)	(215,837)
Net Change in Unrealized Appreciation (Depreciation) on Investments	378	(1,416)	(38,658)
Options and futures
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	(4,825)	(1,293)	43,055
Net Change in Unrealized Appreciation (Depreciation) on Investments	574	3	(30,198)
Swaptions
Gain (Loss) on Investments [Line Items]
Net Realized Gain (Loss) on Investments	0	0	(2,933)
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ 0	$ 0	$ 2,186

FAIR VALUE - Financial Instrume

FAIR VALUE - Financial Instruments by Fair-value Hierarchy Level (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	$ 5,751	$ 16,499
Derivative liabilities	(21,586)	(8,951)
Oaktree Capital Group Excluding Consolidated Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury and other securities	176,602	757,578
Corporate investments	1,009,631	1,123,732
Derivative liabilities		(7,865)
Oaktree Capital Group Excluding Consolidated Funds | Foreign-currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	5,020	16,142
Derivative liabilities	(13,154)	(7,805)
Oaktree Capital Group Excluding Consolidated Funds | Cross-currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(7,479)
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)
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	234,357	875,934
Contingent consideration	(18,778)	(23,567)
Total liabilities	(39,411)	(31,432)
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, at fair value	5,020	16,142
Derivative liabilities	(13,154)	(7,805)
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Foreign-currency forward contracts | Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value		5,377
Derivative liabilities	(1,957)
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Cross-currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(7,479)	0
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	0	(60)
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | U.S. Treasury securities and other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury and other securities	176,602	757,578
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	52,735	102,214
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	176,602	757,578
Contingent consideration	0	0
Total liabilities	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, at fair value	0	0
Derivative liabilities	0	0
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Cross-currency swap
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 | 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 and other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury and other securities	176,602	757,578
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	6,853	43,693
Contingent consideration	0	0
Total liabilities	(20,633)	(7,865)
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, at fair value	5,020	16,142
Derivative liabilities	(13,154)	(7,805)
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Cross-currency swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(7,479)	0
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	0	(60)
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level II | U.S. Treasury securities and other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury and other 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	1,833	27,551
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	50,902	74,663
Contingent consideration	(18,778)	(23,567)
Total liabilities	(18,778)	(23,567)
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, at fair value	0	0
Derivative liabilities	0	0
Oaktree Capital Group Excluding Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Cross-currency swap
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 | 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 and other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
U.S. Treasury and other 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	$ 50,902	$ 74,663

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, 2017	Dec. 31, 2016
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 74,663	$ 25,750
Contributions or additions	1,871	43,521
Distributions	(36,283)	(1,470)
Net gain (loss) included in earnings	10,651	6,862
Ending balance	50,902	74,663
Net change in unrealized gains (losses) attributable to financial instruments still held at end of period	3,758	5,913
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	(23,567)	(28,494)
Contributions or additions	0	0
Distributions	0	0
Net gain (loss) included in earnings	4,789	4,927
Ending balance	(18,778)	(23,567)
Net change in unrealized gains (losses) attributable to financial instruments still held at end of period	$ 4,789	$ 4,927

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, 2017	Dec. 31, 2016
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	$ 50,778	$ 107,591
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	50,902	74,663
Contingent consideration liability | Discounted cash flow | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Contingent consideration liability	$ (18,778)	$ (23,567)
Contingent consideration liability | Discounted cash flow | Level III | Minimum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	0.00%
Contingent consideration liability | Discounted cash flow | Level III | Maximum
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	100.00%
Contingent consideration liability | Discounted cash flow | Level III | Weighted Average
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Discount rate	36.00%

FAIR VALUE - Valuation of Inves

FAIR VALUE - Valuation of Investments and Other Financial Instruments (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	$ 5,751	$ 16,499
Total CLO debt obligations		(3,054,210)
Derivative liabilities	(21,586)	(8,951)
Consolidated Funds
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	5,660,540	3,808,234
Derivative assets, at fair value	731	357
Total CLO debt obligations	(3,219,592)
Securities sold short	(86,467)	(41,016)
Derivative liabilities	(953)	(1,086)
Consolidated Funds | Equity securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Securities sold short	(86,467)	(41,016)
Consolidated Funds | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	92
Consolidated Funds | Level III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	287,402	244,354
Consolidated Funds | Fair Value, Measurements, Recurring
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	5,660,540	3,808,234
Derivative assets, at fair value	731	357
Total assets	5,661,271	3,808,591
Derivative liabilities	(953)	(1,086)
Total liabilities	(3,307,012)	(3,096,312)
Consolidated Funds | Fair Value, Measurements, Recurring | Equity securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Securities sold short	(86,467)	(41,016)
Consolidated Funds | Fair Value, Measurements, Recurring | CLO Debt Obligations
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(3,219,592)	(3,054,210)
Consolidated Funds | Fair Value, Measurements, Recurring | CLO Debt Obligations | Senior notes
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(3,107,955)	(2,953,880)
Consolidated Funds | Fair Value, Measurements, Recurring | CLO Debt Obligations | Subordinated Notes
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(111,637)	(100,330)
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	590	216
Derivative liabilities	(817)	(4)
Consolidated Funds | Fair Value, Measurements, Recurring | Swaps
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	49	141
Derivative liabilities	(136)	(1,082)
Consolidated Funds | Fair Value, Measurements, Recurring | Options and futures
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	92	0
Consolidated Funds | Fair Value, Measurements, Recurring | Corporate debt – bank debt
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	4,427,859	3,182,350
Consolidated Funds | Fair Value, Measurements, Recurring | Corporate debt – all other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	881,783	489,768
Consolidated Funds | Fair Value, Measurements, Recurring | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	225,931	136,116
Consolidated Funds | Fair Value, Measurements, Recurring | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	3,379	0
Consolidated Funds | Fair Value, Measurements, Recurring | Real estate
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	121,588	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level I
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	226,216	129,362
Derivative assets, at fair value	92	0
Total assets	226,308	129,362
Derivative liabilities	0	0
Total liabilities	(86,467)	(41,016)
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Equity securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Securities sold short	(86,467)	(41,016)
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | CLO Debt Obligations
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 | 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 | Subordinated 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 | Foreign-currency forward contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	0
Derivative liabilities	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	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	92	0
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	736	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	222,439	129,362
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	3,041	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level I | Real estate
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	5,146,922	3,434,518
Derivative assets, at fair value	639	357
Total assets	5,147,561	3,434,875
Derivative liabilities	(953)	(1,086)
Total liabilities	(3,220,545)	(3,055,296)
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Equity securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Securities sold short	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | CLO Debt Obligations
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(3,219,592)	(3,054,210)
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | CLO Debt Obligations | Senior notes
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(3,107,955)	(2,953,880)
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | CLO Debt Obligations | Subordinated Notes
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total CLO debt obligations	(111,637)	(100,330)
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	590	216
Derivative liabilities	(817)	(4)
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Swaps
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	49	141
Derivative liabilities	(136)	(1,082)
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	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Corporate debt – bank debt
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	4,340,860	2,973,482
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Corporate debt – all other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	805,659	460,975
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	65	61
Consolidated Funds | Fair Value, Measurements, Recurring | Level II | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	338	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 III
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	287,402	244,354
Derivative assets, at fair value	0	0
Total assets	287,402	244,354
Derivative liabilities	0	0
Total liabilities	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Equity securities
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Securities sold short	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | CLO Debt Obligations
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 | 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 | Subordinated 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 | Foreign-currency forward contracts
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Derivative assets, at fair value	0	0
Derivative liabilities	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	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
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Corporate debt – bank debt
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	86,999	208,868
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Corporate debt – all other
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	75,388	28,793
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Equities – common stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	3,427	6,693
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Equities – preferred stock
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds | Fair Value, Measurements, Recurring | Level III | Real estate
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items]
Total investments	$ 121,588	$ 0

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, 2017	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	$ 244,354	$ 27,217,707
Cumulative-effect adjustment from adoption of accounting guidance			(27,012,584)
Transfers into Level III	21,248	86,964
Transfers out of Level III	(53,629)	(43,728)
Purchases	269,994	49,222
Sales	(203,514)	(60,529)
Realized gains (losses), net	4,780	391
Unrealized appreciation (depreciation), net	4,169	6,911
Ending balance	287,402	244,354
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	4,331	6,788
Corporate Debt – Bank Debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	208,868	1,871,375
Cumulative-effect adjustment from adoption of accounting guidance			(1,672,305)
Transfers into Level III	19,270	83,218
Transfers out of Level III	(48,371)	(43,728)
Purchases	62,977	21,259
Sales	(161,511)	(57,659)
Realized gains (losses), net	3,990	389
Unrealized appreciation (depreciation), net	1,776	6,319
Ending balance	86,999	208,868
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	1,828	6,196
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	28,793	3,009,164
Cumulative-effect adjustment from adoption of accounting guidance			(3,007,287)
Transfers into Level III	1,978	657
Transfers out of Level III	(1,978)	0
Purchases	83,272	26,662
Sales	(37,942)	(219)
Realized gains (losses), net	569	2
Unrealized appreciation (depreciation), net	696	(186)
Ending balance	75,388	28,793
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	806	(186)
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	6,693	8,729,202
Cumulative-effect adjustment from adoption of accounting guidance			(8,725,026)
Transfers into Level III	0	3,089
Transfers out of Level III	(3,280)	0
Purchases	163	1,301
Sales	(2,056)	(2,651)
Realized gains (losses), net	216	0
Unrealized appreciation (depreciation), net	1,691	778
Ending balance	3,427	6,693
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	1,691	778
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	0	1,363,542
Cumulative-effect adjustment from adoption of accounting guidance			(1,363,542)
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		0
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			(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	0	9,655,270
Cumulative-effect adjustment from adoption of accounting guidance			(9,655,270)
Transfers into Level III	0	0
Transfers out of Level III		0
Purchases	123,582	0
Sales	(2,005)	0
Realized gains (losses), net	5	0
Unrealized appreciation (depreciation), net	6	0
Ending balance	121,588	0
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	6	0
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	0	2,597,405
Cumulative-effect adjustment from adoption of accounting guidance			(2,597,405)
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		0
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			(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	0	(8,251)
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		0
Ending balance	0	0
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$ 0	$ 0
Fair Value, Net Asset (Liability) Measured On Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Cumulative-effect adjustment from adoption of accounting guidance			$ 8,251

FAIR VALUE - Additional Informa

FAIR VALUE - Additional Information (Detail) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Consolidated Funds
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Transfers from Level I to Level II	$ 400,000	$ 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, 2017USD ($)	Dec. 31, 2016USD ($)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 5,660,540	$ 3,808,234
Level III
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	287,402	244,354
Level III | Credit-oriented investments | Consumer discretionary | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 7,658
Level III | Credit-oriented investments | Consumer discretionary | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		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%
Level III | Credit-oriented investments | Consumer discretionary | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		7.00%
Level III | Credit-oriented investments | Consumer discretionary | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 64,147
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 | Financials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	53,732
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	$ 14,563	$ 10,574
Level III | Credit-oriented investments | Industrials | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	6.00%	5.00%
Level III | Credit-oriented investments | Industrials | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	11.00%	7.00%
Level III | Credit-oriented investments | Industrials | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	7.00%	6.00%
Level III | Credit-oriented investments | Industrials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 3,782	$ 30,531
Level III | Credit-oriented investments | Industrials | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 4,230
Level III | Credit-oriented investments | Industrials | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		5
Level III | Credit-oriented investments | Industrials | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		7
Level III | Credit-oriented investments | Industrials | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple		6
Level III | Credit-oriented investments | Information technology | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 5,331	$ 11,681
Level III | Credit-oriented investments | Information technology | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	11.00%	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	12.00%	9.00%
Level III | Credit-oriented investments | Information technology | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 13,965	$ 5,076
Level III | Credit-oriented investments | Real estate | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 2,897
Level III | Credit-oriented investments | Real estate | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	11.00%
Level III | Credit-oriented investments | Real estate | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	13.00%
Level III | Credit-oriented investments | Real estate | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	12.00%
Level III | Credit-oriented investments | Real estate | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 22,297
Level III | Credit-oriented investments | Real estate | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	327
Level III | Credit-oriented investments | Materials | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 1,206
Level III | Credit-oriented investments | Materials | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		11.00%
Level III | Credit-oriented investments | Materials | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		13.00%
Level III | Credit-oriented investments | Materials | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate		12.00%
Level III | Credit-oriented investments | Materials | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		$ 15,586
Level III | Credit-oriented investments | Other | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 15,881	$ 13,754
Level III | Credit-oriented investments | Other | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	8.00%	8.00%
Level III | Credit-oriented investments | Other | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	20.00%	16.00%
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	$ 29,452	$ 9,137
Level III | Credit-oriented investments | Other | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 660
Level III | Credit-oriented investments | Other | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	8
Level III | Credit-oriented investments | Other | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	10
Level III | Credit-oriented investments | Other | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	9
Level III | Credit-oriented investments | Other | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value		20,785
Level III | Equity securities | Discounted cash flow
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 1,343	$ 1,352
Level III | Equity securities | Discounted cash flow | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	11.00%	11.00%
Level III | Equity securities | Discounted cash flow | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	30.00%	33.00%
Level III | Equity securities | Discounted cash flow | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Discount rate	13.00%	14.00%
Level III | Equity securities | Recent market information
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 1,707	$ 1,799
Level III | Equity securities | Market approach (comparable companies)
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 378	$ 3,542
Level III | Equity securities | Market approach (comparable companies) | Minimum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	9	4
Level III | Equity securities | Market approach (comparable companies) | Maximum
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	11	11
Level III | Equity securities | Market approach (comparable companies) | Weighted Average
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Earnings multiple	10	8
Level III | Real estate | Recent transaction price
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Investments, at fair value	$ 121,087

DERIVATIVES AND HEDGING - Addit

DERIVATIVES AND HEDGING - Additional Information (Details)	Dec. 31, 2017USD ($)instrument	Dec. 31, 2016USD ($)instrument
$250,000, variable-rate term loan, issued in March 2014, payable on March 31, 2021 (1)
Derivative [Line Items]
Face amount	$ 250,000,000
Oaktree Capital Group Excluding Consolidated Funds
Derivative [Line Items]
Principal	750,000,000	$ 750,000,000
Oaktree Capital Group Excluding Consolidated Funds | $250,000, variable-rate term loan, issued in March 2014, payable on March 31, 2021 (1)
Derivative [Line Items]
Principal	$ 150,000,000	150,000,000
Oaktree Capital Group Excluding Consolidated Funds | Senior Unsecured Credit Facility | $250,000, variable-rate term loan, issued in March 2014, payable on March 31, 2021 (1)
Derivative [Line Items]
Principal		150,000,000
Face amount		$ 250,000,000
Designated as Hedging Instrument | Oaktree Capital Group Excluding Consolidated Funds
Derivative [Line Items]
Number of instruments | instrument	0
Cash Flow Hedging | Designated as Hedging Instrument | Oaktree Capital Group Excluding Consolidated Funds | Interest-rate swaps
Derivative [Line Items]
Number of instruments | instrument		1

DERIVATIVES AND HEDGING DERIVAT

DERIVATIVES AND HEDGING DERIVATIVES AND HEDGING - Fair Value of Derivatives (Details) - Not Designated as Hedging Instrument - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Notional	$ 288,451
Fair Value	5,020
Liabilities
Notional	(498,182)
Fair Value	(20,633)
Foreign-currency forward contracts
Assets
Notional	288,451
Fair Value	5,020
Liabilities
Notional	(242,972)
Fair Value	(13,154)
Cross-currency swap
Assets
Notional	0	$ 273,466
Fair Value	0	16,142
Liabilities
Notional	(255,210)	(152,534)
Fair Value	$ (7,479)	$ (7,805)

DERIVATIVES AND HEDGING - Summa

DERIVATIVES AND HEDGING - Summary of Impact of Derivative Instruments on Condensed Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	$ (30,906)	$ (4,216)	$ 23,554
Investment income | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	(16,707)	4,630	0
General and Administrative Expense | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	$ (14,199)	$ (8,846)	$ 23,554

DERIVATIVES AND HEDGING DERIV76

DERIVATIVES AND HEDGING DERIVATIVES AND HEDGING - Fair Value of Derivatives of Consolidated Funds (Details) - Consolidated Funds - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Notional	$ 79,927	$ 17,141
Fair Value	731	357
Liabilities
Notional	(46,400)	(19,740)
Fair Value	(953)	(1,086)
Foreign-currency forward contracts
Assets
Notional	64,068	12,412
Fair Value	590	216
Liabilities
Notional	(41,606)	(269)
Fair Value	(817)	(4)
Total-return and interest-rate swaps
Assets
Notional	837	4,729
Fair Value	49	141
Liabilities
Notional	(4,794)	(19,471)
Fair Value	(136)	$ (1,082)
Options and futures
Assets
Notional	15,022
Fair Value	92
Liabilities
Notional	0
Fair Value	$ 0

DERIVATIVES AND HEDGING - Impac

DERIVATIVES AND HEDGING - Impact of Derivatives Held by the Consolidated Fund on the Consolidated Statements of Operations (Details) - Consolidated Funds - Not Designated as Hedging Instrument - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	$ (7,510)	$ (3,125)	$ 281,879
Net Change in Unrealized Appreciation (Depreciation) on Investments	2,861	(1,149)	(165,090)
Foreign-currency forward contracts
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	(2,917)	521	457,594
Net Change in Unrealized Appreciation (Depreciation) on Investments	1,909	264	(98,420)
Total-return and interest-rate swaps
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	232	(2,353)	(215,837)
Net Change in Unrealized Appreciation (Depreciation) on Investments	378	(1,416)	(38,658)
Options and futures
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	(4,825)	(1,293)	43,055
Net Change in Unrealized Appreciation (Depreciation) on Investments	574	3	(30,198)
Swaptions
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	0	0	(2,933)
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ 0	$ 0	$ 2,186

DERIVATIVES AND HEDGING - Balan

DERIVATIVES AND HEDGING - Balance Sheet Offsetting (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Derivative Assets:
Gross and Net Amounts of Assets Presented	$ 5,751	$ 16,499
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	5,184	7,950
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	567	8,549
Derivative Liabilities:
Gross and Net Amounts of Liabilities	(21,586)	(8,951)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(5,184)	(7,950)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	(87)	(941)
Net Amount	(16,315)	(60)
Oaktree Capital Group Excluding Consolidated Funds
Derivative Liabilities:
Gross and Net Amounts of Liabilities		(7,865)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)		(7,805)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)		0
Net Amount		(60)
Oaktree Capital Group Excluding Consolidated Funds | Foreign-currency forward contracts
Derivative Assets:
Gross and Net Amounts of Assets Presented	5,020	16,142
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	5,020	7,805
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	0	8,337
Derivative Liabilities:
Gross and Net Amounts of Liabilities	(13,154)	(7,805)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(5,020)	(7,805)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	0	0
Net Amount	(8,134)	0
Oaktree Capital Group Excluding Consolidated Funds | Cross-currency swap
Derivative Liabilities:
Gross and Net Amounts of Liabilities	(7,479)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	0
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	0
Net Amount	(7,479)
Oaktree Capital Group Excluding Consolidated Funds | Foreign-currency forward contracts and Cross-currency swap
Derivative Liabilities:
Gross and Net Amounts of Liabilities	(20,633)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(5,020)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	0
Net Amount	(15,613)
Oaktree Capital Group Excluding Consolidated Funds | Interest-rate swaps
Derivative Liabilities:
Gross and Net Amounts of Liabilities		(60)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)		0
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)		0
Net Amount		(60)
Consolidated Funds
Derivative Assets:
Gross and Net Amounts of Assets Presented	731	357
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	164	145
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	567	212
Derivative Liabilities:
Gross and Net Amounts of Liabilities	(953)	(1,086)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(164)	(145)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	(87)	(941)
Net Amount	(702)	0
Consolidated Funds | Foreign-currency forward contracts
Derivative Assets:
Gross and Net Amounts of Assets Presented	590	216
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	115	4
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	475	212
Derivative Liabilities:
Gross and Net Amounts of Liabilities	(817)	(4)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(115)	(4)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	0	0
Net Amount	(702)	0
Consolidated Funds | Total-return and interest-rate swaps
Derivative Assets:
Gross and Net Amounts of Assets Presented	49	141
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	49	141
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	0	0
Derivative Liabilities:
Gross and Net Amounts of Liabilities	(136)	(1,082)
Gross Amounts Not Offset in Statements of Financial Condition, Derivative (Liabilities)	(49)	(141)
Gross Amounts Not Offset in Statements of Financial Condition, Cash (Pledged)	(87)	(941)
Net Amount	0	$ 0
Consolidated Funds | Options and futures
Derivative Assets:
Gross and Net Amounts of Assets Presented	92
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	0
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0
Net Amount	$ 92

FIXED ASSETS (Details)

FIXED ASSETS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Fixed assets	$ 163,907	$ 138,422
Accumulated depreciation	(53,744)	(45,344)
Fixed assets, net	110,163	93,078
Furniture, equipment and capitalized software
Property, Plant and Equipment [Line Items]
Fixed assets	25,618	18,771
Leasehold improvements
Property, Plant and Equipment [Line Items]
Fixed assets	66,940	49,626
Corporate aircraft
Property, Plant and Equipment [Line Items]
Fixed assets	66,120	66,277
Other
Property, Plant and Equipment [Line Items]
Fixed assets	$ 5,229	$ 3,748

GOODWILL AND INTANGIBLES (Detai

GOODWILL AND INTANGIBLES (Details) $ in Thousands	Oct. 17, 2017USD ($)company	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Finite-Lived Intangible Assets [Line Items]
Goodwill		$ 69,300	$ 69,300
Number of companies acquired | company	2
Intangible assets acquired	$ 319,400
Amortization expense		6,600	4,000	$ 4,000
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,018		16,800
2,019		16,800
2,020		16,800
2,021		15,100
2,022		12,800
Contractual rights
Finite-Lived Intangible Assets [Line Items]
Contractual rights		347,452	28,017
Accumulated amortization		(16,301)	(9,675)
Intangible assets, net		$ 331,151	$ 18,342

DEBT OBLIGATIONS AND CREDIT F81

DEBT OBLIGATIONS AND CREDIT FACILITIES - Debt Obligations (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
$250,000, 3.78%, issued in December 2017, payable on December 18, 2032
Debt Instrument [Line Items]
Face amount	$ 250,000,000
Stated rate	3.78%
$250,000, 6.75%, issued in November 2009, payable on December 2, 2019
Debt Instrument [Line Items]
Face amount	$ 250,000,000
Stated rate	6.75%
$250,000, variable-rate term loan, issued in March 2014, payable on March 31, 2021 (1)
Debt Instrument [Line Items]
Face amount	$ 250,000,000
$50,000, 3.91%, issued in September 2014, payable on September 3, 2024
Debt Instrument [Line Items]
Face amount	$ 50,000,000
Stated rate	3.91%
$100,000, 4.01%, issued in September 2014, payable on September 3, 2026
Debt Instrument [Line Items]
Face amount	$ 100,000,000
Stated rate	4.01%
$100,000, 4.21%, issued in September 2014, payable on September 3, 2029
Debt Instrument [Line Items]
Face amount	$ 100,000,000
Stated rate	4.21%
$100,000, 3.69%, issued in July 2016, payable on July 12, 2031
Debt Instrument [Line Items]
Face amount	$ 100,000,000
Stated rate	3.69%
Oaktree Capital Group Excluding Consolidated Funds
Debt Instrument [Line Items]
Total remaining principal	$ 750,000,000	$ 750,000,000
Less: Debt issuance costs	(3,726,000)	(4,103,000)
Debt obligations	746,274,000	745,897,000
Oaktree Capital Group Excluding Consolidated Funds | Credit Facility | Term loan
Debt Instrument [Line Items]
Face amount	250,000,000
Face amount repaid	100,000,000
Oaktree Capital Group Excluding Consolidated Funds | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Facility capacity	$ 500,000,000
Commitment fee payable on unused funds	0.125%
Borrowings under credit facilities	$ 0
Oaktree Capital Group Excluding Consolidated Funds | LIBOR | Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Spread on variable rate	1.00%
Oaktree Capital Group Excluding Consolidated Funds | $250,000, 3.78%, issued in December 2017, payable on December 18, 2032
Debt Instrument [Line Items]
Total remaining principal	$ 250,000,000	0
Stated rate	3.78%
Oaktree Capital Group Excluding Consolidated Funds | $250,000, 6.75%, issued in November 2009, payable on December 2, 2019
Debt Instrument [Line Items]
Total remaining principal	$ 0	250,000,000
Stated rate	6.75%
Oaktree Capital Group Excluding Consolidated Funds | $250,000, variable-rate term loan, issued in March 2014, payable on March 31, 2021 (1)
Debt Instrument [Line Items]
Total remaining principal	$ 150,000,000	150,000,000
Oaktree Capital Group Excluding Consolidated Funds | $50,000, 3.91%, issued in September 2014, payable on September 3, 2024
Debt Instrument [Line Items]
Total remaining principal	50,000,000	50,000,000
Oaktree Capital Group Excluding Consolidated Funds | $100,000, 4.01%, issued in September 2014, payable on September 3, 2026
Debt Instrument [Line Items]
Total remaining principal	100,000,000	100,000,000
Oaktree Capital Group Excluding Consolidated Funds | $100,000, 4.21%, issued in September 2014, payable on September 3, 2029
Debt Instrument [Line Items]
Total remaining principal	100,000,000	100,000,000
Oaktree Capital Group Excluding Consolidated Funds | $100,000, 3.69%, issued in July 2016, payable on July 12, 2031
Debt Instrument [Line Items]
Total remaining principal	$ 100,000,000	$ 100,000,000

DEBT OBLIGATIONS AND CREDIT F82

DEBT OBLIGATIONS AND CREDIT FACILITIES - Future Principal Payments of Debt Obligations (Detail) - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2,018	$ 0
2,019	0
2,020	0
2,021	150,000
2,022	0
Thereafter	600,000
Total	$ 750,000	$ 750,000

DEBT OBLIGATIONS AND CREDIT F83

DEBT OBLIGATIONS AND CREDIT FACILITIES - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Jul. 31, 2017
Debt Instrument [Line Items]
Fair value			$ 3,054,210,000
$250,000, 3.78%, issued in December 2017, payable on December 18, 2032
Debt Instrument [Line Items]
Stated rate	3.78%	3.78%
$250,000, 6.75%, issued in November 2009, payable on December 2, 2019
Debt Instrument [Line Items]
Stated rate	6.75%	6.75%
Oaktree Capital Group Excluding Consolidated Funds
Debt Instrument [Line Items]
Debt sold		$ 250,000,000	100,000,000	$ 0
Debt redeemed		250,000,000	200,000,000	$ 0
Total remaining principal	$ 750,000,000	750,000,000	750,000,000
Oaktree Capital Group Excluding Consolidated Funds | Letter of Credit | Credit Facility
Debt Instrument [Line Items]
Guarantee					$ 17,500,000
Amounts outstanding on guarantee	0	0
Oaktree Capital Group Excluding Consolidated Funds | Level III
Debt Instrument [Line Items]
Fair value	$ 762,700,000	$ 762,700,000	$ 756,600,000
Average borrowing rate	3.60%	3.60%	3.90%
Increase in assumed borrowing rate	10.00%	10.00%
Decrease in estimated fair value	$ 739,600,000	$ 739,600,000
Decrease in assumed borrowing rate	10.00%	10.00%
Increase in estimated fair value	$ 786,300,000	$ 786,300,000
Oaktree Capital Group Excluding Consolidated Funds | $250,000, 3.78%, issued in December 2017, payable on December 18, 2032
Debt Instrument [Line Items]
Debt sold	$ 250,000,000
Stated rate	3.78%	3.78%
Reduction in interest rate	1.95%
Total remaining principal	$ 250,000,000	$ 250,000,000	$ 0
Oaktree Capital Group Excluding Consolidated Funds | $250,000, 6.75%, issued in November 2009, payable on December 2, 2019
Debt Instrument [Line Items]
Stated rate	6.75%	6.75%
Debt redeemed	$ 250,000,000	$ 250,000,000
Total remaining principal	0	0	250,000,000
Consolidated Funds
Debt Instrument [Line Items]
Fair value	3,219,592,000	3,219,592,000
Total remaining principal	3,159,295,000	3,159,295,000
VIE consolidated assets	3,900,000,000	3,900,000,000	3,400,000,000
Consolidated Funds | Senior notes
Debt Instrument [Line Items]
Fair value	$ 3,107,955,000	$ 3,107,955,000	$ 2,953,880,000
Average borrowing rate	2.18%	2.18%	2.52%
Consolidated Funds | Senior notes | Credit Facility
Debt Instrument [Line Items]
Average borrowing rate	3.01%	3.01%
Total remaining principal	$ 870,098,000	$ 870,098,000	$ 488,997,000
Consolidated Funds | Level III | Credit Facility
Debt Instrument [Line Items]
Fair value	$ 872,100,000	$ 872,100,000

DEBT OBLIGATIONS AND CREDIT F84

DEBT OBLIGATIONS AND CREDIT FACILITIES - Credit Facilities of Consolidated Funds (Details) - Consolidated Funds - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Principal	$ 3,159,295,000
Debt obligations	3,219,592,000	$ 3,054,210,000
Credit Facility | Senior variable rate notes
Debt Instrument [Line Items]
Principal	870,098,000	488,997,000
Less: Debt issuance costs	(7,697,000)	(5,041,000)
Debt obligations	862,401,000	$ 483,956,000
Facility Capacity	$ 870,100,000
Weighted Average Interest Rate	3.01%
Weighted Average Remaining Maturity (years)	10 years 8 months 12 days

DEBT OBLIGATIONS AND CREDIT F85

DEBT OBLIGATIONS AND CREDIT FACILITIES - Collateralized Loan Obligation Loans Payable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Fair value		$ 3,054,210
Consolidated Funds
Debt Instrument [Line Items]
Fair value	$ 3,219,592
Consolidated Funds | Senior notes
Debt Instrument [Line Items]
Fair value	$ 3,107,955	$ 2,953,880
Weighted Average Interest Rate	2.18%	2.52%
Weighted Average Remaining Maturity (years)	10 years 8 months 12 days	10 years 8 months 12 days
Consolidated Funds | Subordinated Notes
Debt Instrument [Line Items]
Fair value	$ 111,637	$ 100,330
Weighted Average Remaining Maturity (years)	10 years 9 months 18 days	11 years 7 months 6 days

DEBT OBLIGATIONS AND CREDIT F86

DEBT OBLIGATIONS AND CREDIT FACILITIES - CLO Future principal payments (Details) - Consolidated Funds $ in Thousands	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
2,018	$ 47,470
2,019	0
2,020	0
2,021	0
2,022	0
Thereafter	3,111,825
Total	$ 3,159,295

NON-CONTROLLING REDEEMABLE IN87

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Non-Controlling Redeemable Interests in Consolidated Funds [Roll Forward]
Beginning balance	$ 344,047	$ 38,173,125	$ 41,681,155
Cumulative-effect adjustment from adoption of accounting guidance	0	(37,969,042)	0
Initial consolidation of a fund	296,971	34,095	0
Contributions	331,764	144,060	5,796,081
Distributions	(146,393)	(56,557)	(7,407,437)
Net income (loss)	29,532	20,988	(1,812,539)
Change in distributions payable	1,853	(4,227)	387,989
Change in accrued or deferred contributions	0	0	526
Foreign-currency translation and other	2,774	1,605	(472,650)
Ending balance	$ 860,548	$ 344,047	$ 38,173,125

UNITHOLDERS' CAPITAL - Addition

UNITHOLDERS' CAPITAL - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Total unitholders’ capital	$ 2,020,617	$ 1,885,171	$ 1,808,094	$ 1,840,130
OCGH
Class of Stock [Line Items]
Unitholders' capital (in shares)	90,975,687	91,758,067
Total unitholders’ capital	$ 1,113,314	$ 1,040,274
Oaktree Operating Group
Class of Stock [Line Items]
Subsidiary units outstanding (in shares)	156,285,913	154,790,343
Total unitholders’ capital	$ 1,912,517	$ 1,754,882
Equity Held by Third Parties
Class of Stock [Line Items]
Non-controlling interests in consolidated funds	$ 7,923	$ 10,045

UNITHOLDERS' CAPITAL UNITHOLDER

UNITHOLDERS' CAPITAL UNITHOLDERS' CAPITAL - Summary of Distributions Made (Details) - $ / shares	Nov. 10, 2017	Aug. 11, 2017	May 12, 2017	Feb. 24, 2017	Nov. 14, 2016	Aug. 12, 2016	May 13, 2016	Feb. 26, 2016	Nov. 12, 2015	Aug. 13, 2015	May 14, 2015	Feb. 25, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class A Units
Class of Stock [Line Items]
Distribution Per Unit (in dollars per unit)	$ 0.56	$ 1.31	$ 0.71	$ 0.63	$ 0.65	$ 0.58	$ 0.55	$ 0.47	$ 0.40	$ 0.5	$ 0.64	$ 0.56	$ 3.21	$ 2.25	$ 2.1

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, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Weighted average Oaktree Operating Group units outstanding (in thousands):
Units outstanding (in shares)									64,148	62,565	49,324
Oaktree Operating Group net income:
Net income (loss)	$ 97,831	$ 134,377	$ 295,443	$ 161,831	$ 173,278	$ 168,823	$ 140,834	$ 83,168	$ 689,482	$ 566,103	$ (1,532,962)
Net income attributable to Oaktree Capital Group, LLC:
Non-Operating Group income (expense)	210,060	82,975	90,355	77,110	97,834	89,499	58,337	26,542	460,500	272,212	(776,410)
Income tax expense of Intermediate Holding Companies									(215,442)	(42,519)	(17,549)
Net income attributable to Oaktree Capital Group, LLC	$ 13,414	$ 45,841	$ 117,324	$ 54,915	$ 59,283	$ 58,297	$ 49,047	$ 28,078	$ 231,494	$ 194,705	$ 71,349
OCGH non-controlling interest
Weighted average Oaktree Operating Group units outstanding (in thousands):
Units outstanding (in shares)									91,643	92,122	104,427
Oaktree Operating Group net income:
Net income (loss)									$ 422,122	$ 343,781	$ 195,162
Class A Unitholders
Weighted average Oaktree Operating Group units outstanding (in thousands):
Units outstanding (in shares)									64,148	62,565	49,324
Oaktree Operating Group net income:
Net income (loss)									$ 295,161	$ 233,765	$ 87,620
Oaktree Operating Group
Weighted average Oaktree Operating Group units outstanding (in thousands):
Units outstanding (in shares)									155,791	154,687	153,751
Oaktree Operating Group net income:
Net income (loss)									$ 717,283	$ 577,546	$ 282,782
Net income attributable to Oaktree Capital Group, LLC:
OCGH non-controlling interest									2,662	4,696	10,214
Oaktree Capital Group, LLC
Net income attributable to Oaktree Capital Group, LLC:
Oaktree Operating Group net income attributable to Class A unitholders									295,161	233,765	87,620
Non-Operating Group income (expense)									144,143	(1,176)	(2,097)
Income tax expense of Intermediate Holding Companies									(207,810)	(37,884)	(14,174)
Net income attributable to Oaktree Capital Group, LLC									$ 231,494	$ 194,705	$ 71,349

UNITHOLDERS' CAPITAL - Changes

UNITHOLDERS' CAPITAL - Changes in Company Ownership Interest (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class of Stock [Line Items]
Net income attributable to Oaktree Capital Group, LLC	$ 13,414	$ 45,841	$ 117,324	$ 54,915	$ 59,283	$ 58,297	$ 49,047	$ 28,078	$ 231,494	$ 194,705	$ 71,349
Equity reallocation between controlling and non-controlling interests									0	0	0
Change from net income attributable to Oaktree Capital Group, LLC and transfers from non-controlling interests									254,645	209,093	252,888
Paid-in Capital
Class of Stock [Line Items]
Equity reallocation between controlling and non-controlling interests									$ 23,151	$ 14,388	$ 181,539

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, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net income per Class A unit (basic and diluted):
Net income attributable to Oaktree Capital Group, LLC	$ 13,414	$ 45,841	$ 117,324	$ 54,915	$ 59,283	$ 58,297	$ 49,047	$ 28,078	$ 231,494	$ 194,705	$ 71,349
Weighted average number of Class A units outstanding (basic and diluted) (in shares)									64,148	62,565	49,324
Basic and diluted net income per Class A unit (in dollars per share)	$ 0.21	$ 0.71	$ 1.83	$ 0.87	$ 0.94	$ 0.93	$ 0.78	$ 0.45	$ 3.61	$ 3.11	$ 1.45

EARNINGS PER UNIT - Computati93

EARNINGS PER UNIT - Computations of Net Income Per Unit Additional information (Detail)	12 Months Ended
	Dec. 31, 2017shares	Dec. 31, 2016shares	Dec. 31, 2015shares
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)	90,975,687
OCGH Units | Highstar Capital
Earnings Per Share [Line Items]
Issuable shares (in shares)	0	0	0
Class A Units
Earnings Per Share [Line Items]
Potential exchangeable units ratio	1
Issuable shares (in shares)	90,975,687
Deferred equity unit
Earnings Per Share [Line Items]
Potential exchangeable units ratio	1
Units vesting periods	4 years
Deferred equity unit
Earnings Per Share [Line Items]
Potential exchangeable units ratio	1
Issuable shares (in shares)	0

EQUITY-BASED COMPENSATION - Equ

EQUITY-BASED COMPENSATION - Equity-Based Compensation (Details)	12 Months Ended
	Dec. 31, 2017shares
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)	156,285,913
2011 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized units (in shares)	23,218,551
Units authorized (in shares)	11,426,213
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)	62,047

EQUITY-BASED COMPENSATION - Cla

EQUITY-BASED COMPENSATION - Class A and OCGH Unit Awards (Details) $ in Millions	12 Months Ended			36 Months Ended
	Dec. 31, 2017USD ($)companyshares	Dec. 31, 2016shares	Dec. 31, 2015shares	Dec. 31, 2017USD ($)
OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units granted (in shares)	274,018	879,667	1,175,213
Units vesting periods	5 years 7 months 6 days
Unvested equity-based awards | $	$ 145.6			$ 145.6
Recognition period	4 years
Estimated time-to-liquidity assumption	5 years 9 months 18 days		5 years 7 months 6 days
Number of comparable publicly-owned alternative asset managers | company	6
Discount rate				20.00%
Forfeiture rate (up to)	3.00%
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)	1,285,548
Class A Units | Class A Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share exchange rate	1

EQUITY-BASED COMPENSATION - Sum

EQUITY-BASED COMPENSATION - Summary of Unvested Equity-Based Awards and Changes (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Nov. 30, 2015
Class A Units
Number of Units
Beginning balance (in shares)	2,128,400	2,376,340	19,049
Granted (in shares)	1,285,548	830,949	7,940
Vested (in shares)	(837,254)	(997,039)	(50,931)
Exchanged (in shares)			2,418,282
Forfeited (in shares)	(20,378)	(81,850)	(18,000)
Ending balance (in shares)	2,556,316	2,128,400	2,376,340
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 41.86	$ 38.18	$ 50.63
Granted (in dollars per share)	45.42	46.79	55.75
Vested (in dollars per share)	40.57	37.71	40.11
Exchanged (in dollars per share)			38.10
Forfeited (in dollars per share)	45.59	35.63	42.29
Ending balance (in dollars per share)	$ 44.05	$ 41.86	$ 38.18
OCGH Units
Number of Units
Beginning balance (in shares)	2,337,953	2,265,967	5,070,992
Granted (in shares)	274,018	879,667	1,175,213
Vested (in shares)	(453,136)	(601,249)	(1,421,597)
Exchanged (in shares)			(2,418,282)
Forfeited (in shares)	0	(206,432)	(140,359)
Ending balance (in shares)	2,158,835	2,337,953	2,265,967
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share)	$ 39.85	$ 40.70	$ 36.21
Granted (in dollars per share)	37.15	35.96	44.04
Vested (in dollars per share)	38.50	39.18	32.38
Exchanged (in dollars per share)			38.10
Forfeited (in dollars per share)	0	34.60	35.68
Ending balance (in dollars per share)	$ 39.79	$ 39.85	$ 40.70
OCGH units exchanged for Class A units (in shares)				12,998,725

EQUITY-BASED COMPENSATION - E97

EQUITY-BASED COMPENSATION - Equity Value Units (Details) - USD ($) $ in Millions	Apr. 26, 2017	Jun. 30, 2017	Dec. 31, 2017
Equity Value Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recapitalizing percentage			33.33%
Unrecognized share expense			$ 3.1
Recognition period			2 years
Equity Value Units, Equity Settled
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units outstanding (in shares)			1,000,000
Equity Value Units, Cash Settled
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units outstanding (in shares)			1,000,000
Units granted (in shares)	225,000
Incremental compensation cost		$ 4.1

EQUITY-BASED COMPENSATION EQUIT

EQUITY-BASED COMPENSATION EQUITY-BASED COMPENSATION - Deferred Equity Units (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)shares
OCGH Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential exchangeable units ratio	1
Deferred equity unit
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential exchangeable units ratio	1
Units vesting periods	4 years
Units outstanding (in shares) | shares	250,000
Unrecognized share expense | $	$ 2.7
Recognition period	6 years
Lack of marketability discount	20.00%

INCOME TAXES AND RELATED PAYM99

INCOME TAXES AND RELATED PAYMENTS - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)company	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Income Tax Disclosure [Abstract]
Number of wholly-owned subsidiaries (in company) | company		2
Income tax expense related to Tax Act		$ 33.2
Income tax expense related to Tax Act, deferred tax assets		178.2
Income tax benefit related to Tax Act, tax receivable liability		145.1
Total reserve		7.5
Realized tax benefits		4.4
Income tax penalties and interest accrued		3.2	$ 3.1
Income tax penalties and interest expenses		$ 0.1	$ 1.6	$ 0.9
Income tax penalties and interest benefits				$ 0.9
Scenario, Forecast
Income Tax Contingency [Line Items]
Decrease resulting from settlements with taxing authorities	$ 5.2

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, 2017	Dec. 31, 2016	Dec. 31, 2015
Current:
U.S. federal income tax	$ 4,085	$ 10,268	$ 1,478
State and local income tax	2,687	6,154	1,650
Foreign income tax	5,907	1,436	2,621
Current	12,679	17,858	5,749
Deferred:
U.S. federal income tax	191,488	23,835	11,306
State and local income tax	10,928	2,110	786
Foreign income tax	347	(1,284)	(292)
Deferred	202,763	24,661	11,800
Total:
U.S. federal income tax	195,573	34,103	12,784
State and local income tax	13,615	8,264	2,436
Foreign income tax	6,254	152	2,329
Income tax expense	$ 215,442	$ 42,519	$ 17,549

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, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Domestic income (loss) before income taxes									$ 894,911	$ 623,712	$ (1,518,108)
Foreign income (loss) before income taxes									10,013	(15,090)	2,695
Income (loss) before income taxes	$ 281,573	$ 148,234	$ 300,984	$ 174,133	$ 185,979	$ 177,390	$ 149,405	$ 95,848	$ 904,924	$ 608,622	$ (1,515,413)

INCOME TAXES AND RELATED PAY102

INCOME TAXES AND RELATED PAYMENTS - Effective Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income tax expense at federal statutory rate	35.00%	35.00%	35.00%
Income passed through	(31.61%)	(30.31%)	(35.91%)
State and local taxes, net of federal benefit	0.38%	1.28%	(0.17%)
Foreign taxes	0.23%	0.89%	(0.09%)
Deferred tax adjustment	19.76%	0.00%	0.00%
Other, net	0.05%	0.13%	0.01%
Total effective rate	23.81%	6.99%	(1.16%)

INCOME TAXES AND RELATED PAY103

INCOME TAXES AND RELATED PAYMENTS - Income Tax Effects of Temporary Differences (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Investment in partnerships	$ 191,713	$ 386,796	$ 414,142
Equity-based compensation expense	3,537	4,449	3,773
Other, net	9,311	14,329	9,675
Total deferred tax assets	204,561	405,574	427,590
Total deferred tax liabilities	2,101	960	1,792
Net deferred tax assets before valuation allowance	202,460	404,614	425,798
Valuation allowance	0	0	0
Net deferred tax assets	$ 202,460	$ 404,614	$ 425,798

INCOME TAXES AND RELATED PAY104

INCOME TAXES AND RELATED PAYMENTS - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of period	$ 5,768	$ 4,956	$ 5,575
Additions for tax positions related to the current year	350	350	1,156
Additions for tax positions related to prior years	0	2,121	109
Reductions for tax positions related to prior years	(412)	(79)	0
Settlement of tax positions	0	0	0
Lapse of statute of limitations	(1,340)	(1,580)	(1,884)
Balance at end of period	$ 4,366	$ 5,768	$ 4,956

INCOME TAXES AND RELATED PAY105

INCOME TAXES AND RELATED PAYMENTS - Tax Receivable Agreement (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2040	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	$ 20	$ 18.8	$ 15.7
Scenario, Forecast
Tax Receivable Agreement [Line Items]
Payments to unitholders under TRA				$ 34.3	$ 32.5	$ 38.6	$ 51.1	$ 36.8	$ 17.3

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Additional Information (Details)	1 Months Ended	12 Months Ended
	Aug. 31, 2014USD ($)	Dec. 31, 2017USD ($)city	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Oct. 17, 2017USD ($)
Loss Contingencies [Line Items]
Accrued incentives (fund level)		$ 1,918,952,000	$ 1,970,755,000
Compensation expense related to accrued incentives (fund level)		1,000,232,000	1,026,345,000
Capital commitments		$ 429,100,000	565,400,000
Number of offices (in office) | city		17
Occupancy costs, including non-lease expenses		$ 20,477,000	22,637,000	$ 19,305,000
Consolidated Funds
Loss Contingencies [Line Items]
Commitments		$ 6,000,000	2,100,000
Highstar Capital
Loss Contingencies [Line Items]
Contingent consideration (up to)	$ 60,000,000
Period of performance		7 years
Contingent consideration		$ 18,800,000	23,600,000
Contingent consideration expense		$ 4,800,000	$ 4,900,000	$ 1,200,000
Oaktree Specialty Lending Corporation and Oaktree Strategic Income Corporation
Loss Contingencies [Line Items]
Contingent liabilities					$ 56,200,000
Indemnification assets					$ 56,200,000

COMMITMENTS AND CONTINGENCIE107

COMMITMENTS AND CONTINGENCIES (Operating Leases) (Details) $ in Thousands	Dec. 31, 2017USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2,018	$ 17,775
2,019	18,192
2,020	17,576
2,021	15,052
2,022	14,576
Thereafter	74,628
Total	$ 157,799

EMPLOYEE BENEFITS (Details)

EMPLOYEE BENEFITS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Employer contribution expense	$ 9.3	$ 8.8	$ 9.1
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)	13.30%

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Detail) - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Interest income	$ 451	$ 906	$ 2,144
Level III
Related Party Transaction [Line Items]
Due to affiliates	93,772	164,335
Affiliated Entity
Related Party Transaction [Line Items]
Management fees and incentive income	$ 1,400,000	$ 1,000,000	$ 75,200
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, 2017	Dec. 31, 2016
Due from affiliates:
Loans	$ 9,239	$ 19,325
Amounts due from unconsolidated funds	57,155	53,573
Management fees and incentive income due from unconsolidated funds	152,959	130,708
Payments made on behalf of unconsolidated entities	3,784	3,779
Non-interest bearing advances made to certain non-controlling interest holders and employees	87	1,258
Total due from affiliates	223,224	208,643
Due to affiliates:
Due to OCGH unitholders in connection with the tax receivable agreement (please see note 15)	176,283	340,966
Amounts due to senior executives, certain non-controlling interest holders and employees	1,590	5,577
Total due to affiliates	$ 177,873	$ 346,543

CAPITAL REQUIREMENTS OF REGU111

CAPITAL REQUIREMENTS OF REGULATED ENTITIES (Details) - USD ($) $ in Millions	Dec. 31, 2017	Dec. 31, 2016
Regulatory Capital Requirements [Abstract]
Potential restricted amounts	$ 115.5	$ 92.8

SEGMENT REPORTING - Additional

SEGMENT REPORTING - Additional Information (Details)	12 Months Ended
	Dec. 31, 2017segment
Segment Reporting [Abstract]
Number of segments	1

SUBSEQUENT EVENTS - Additional

SUBSEQUENT EVENTS - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions

Feb. 16, 2018

Feb. 12, 2018

Feb. 06, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2017

Dec. 31, 2016

Dec. 31, 2015

Subsequent Event [Line Items]

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

$ 0.56

$ 1.31

$ 0.71

$ 0.63

$ 0.65

$ 0.58

$ 0.55

$ 0.47

$ 3.21000

$ 2.25

$ 2.10

Class A Units

Subsequent Event [Line Items]

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

$ 3.34

Class A Units | Subsequent Event

Subsequent Event [Line Items]

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

$ 0.76

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

$ 0.76

Public Offering | Class A Units | Subsequent Event

Subsequent Event [Line Items]

Number of shares sold (in shares)

5,000,000

Proceeds from shares sold

$ 219.5

QUARTERLY FINANCIAL DATA (Detai

QUARTERLY FINANCIAL DATA (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Quarterly Financial Data [Abstract]
Revenues	$ 311,095	$ 235,032	$ 634,055	$ 289,585	$ 298,310	$ 290,230	$ 282,716	$ 254,490	$ 1,469,767	$ 1,125,746	$ 201,905
Expenses	(239,582)	(169,773)	(423,426)	(192,562)	(210,165)	(202,339)	(191,648)	(185,184)	(1,025,343)	(789,336)	(940,908)
Other income	210,060	82,975	90,355	77,110	97,834	89,499	58,337	26,542	460,500	272,212	(776,410)
Income (loss) before income taxes	281,573	148,234	300,984	174,133	185,979	177,390	149,405	95,848	904,924	608,622	(1,515,413)
Net income (loss)	97,831	134,377	295,443	161,831	173,278	168,823	140,834	83,168	689,482	566,103	(1,532,962)
Net income attributable to Oaktree Capital Group, LLC	$ 13,414	$ 45,841	$ 117,324	$ 54,915	$ 59,283	$ 58,297	$ 49,047	$ 28,078	$ 231,494	$ 194,705	$ 71,349
Basic and diluted net income (loss) per Class A unit (in dollars per share)	$ 0.21	$ 0.71	$ 1.83	$ 0.87	$ 0.94	$ 0.93	$ 0.78	$ 0.45	$ 3.61	$ 3.11	$ 1.45
Distributions declared per Class A unit (in dollars per share)	$ 0.56	$ 1.31	$ 0.71	$ 0.63	$ 0.65	$ 0.58	$ 0.55	$ 0.47	$ 3.21000	$ 2.25	$ 2.10