KKR & Co. (KKR) 10-Q 7 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	5-May-15
Document and Entity Information
Entity Registrant Name	KKR & Co. L.P.
Entity Central Index Key	1404912
Current Fiscal Year End Date	-19
Entity Filer Category	Large Accelerated Filer
Entity Current Reporting Status	Yes
Document Type	10-Q
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Amendment Flag	FALSE
Entity Common Stock, Shares Outstanding		441,909,905

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Assets
Cash and Cash Equivalents	$1,306,975	$918,080
Cash and Cash Equivalents Held at Consolidated Entities	1,334,930	1,372,775
Restricted Cash and Cash Equivalents	53,362	102,991
Investments	60,971,453	60,167,626
Due from Affiliates	109,346	147,056
Other Assets	3,510,924	3,164,217
Total Assets	67,286,990	65,872,745
Liabilities and Equity
Debt Obligations	11,717,676	10,837,784
Due to Affiliates	141,649	131,548
Accounts Payable, Accrued Expenses and Other Liabilities	3,270,120	3,199,352
Total Liabilities	15,129,445	14,168,684
Commitments and Contingencies	0	0
Redeemable Noncontrolling Interests	303,169	300,098
Equity
KKR & Co. L.P. Partners’ Capital (438,054,363 and 433,330,540 common units issued and outstanding as of March 31, 2015 and December 31, 2014, respectively)	5,633,520	5,403,095
Accumulated Other Comprehensive Income (Loss)	-32,154	-20,404
Total KKR & Co. L.P. Partners’ Capital	5,601,366	5,382,691
Noncontrolling Interests	46,253,010	46,004,377
Appropriated Capital	0	16,895
Total Equity	51,854,376	51,403,963
Total Liabilities and Equity	67,286,990	65,872,745
Consolidated VIEs
Assets
Cash and Cash Equivalents Held at Consolidated Entities	786,701	1,046,018
Investments	8,049,472	8,559,967
Other Assets	220,079	129,949
Total Assets	9,056,252	9,735,934
Liabilities and Equity
Debt Obligations	7,158,322	7,615,340
Accounts Payable, Accrued Expenses and Other Liabilities	544,680	638,953
Total Liabilities	$7,703,002	$8,254,293

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical)	Mar. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Common units issued	438,054,363	433,330,540
Common units outstanding	438,054,363	433,330,540

CONDENSED_CONSOLIDATED_STATEME2

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues
Fees and Other	$291,345	$302,926
Expenses
Compensation and Benefits	364,999	331,038
Occupancy and Related Charges	15,732	15,408
General, Administrative and Other	134,302	126,725
Total Expenses	515,033	473,171
Investment Income (Loss)
Net Gains (Losses) from Investment Activities	1,919,825	1,972,180
Dividend Income	78,815	96,704
Interest Income	296,158	161,960
Interest Expense	-111,963	-34,731
Total Investment Income (Loss)	2,182,835	2,196,113
Income (Loss) Before Taxes	1,959,147	2,025,868
Income Taxes	16,138	21,702
Net Income (Loss)	1,943,009	2,004,166
Net Income (Loss) Attributable to Redeemable Noncontrolling Interests	1,933	10,637
Net Income (Loss) Attributable to Noncontrolling Interests and Appropriated Capital	1,670,569	1,783,488
Net Income (Loss) Attributable to KKR & Co. L.P.	$270,507	$210,041
Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit
Basic (in dollars per unit)	$0.62	$0.72
Diluted (in dollars per unit)	$0.57	$0.65
Weighted Average Common Units Outstanding
Basic (in units)	434,874,820	293,490,461
Diluted (in units)	472,225,344	325,104,229

CONDENSED_CONSOLIDATED_STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$1,943,009	$2,004,166
Other Comprehensive Income (Loss), Net of Tax:
Foreign Currency Translation Adjustments	-22,426	5,343
Comprehensive Income (Loss)	1,920,583	2,009,509
Less: Comprehensive Income (Loss) Attributable to Redeemable Noncontrolling Interests	1,933	10,637
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests and Appropriated Capital	1,659,564	1,787,760
Comprehensive Income (Loss) Attributable to KKR & Co. L.P.	$259,086	$211,112

CONDENSED_CONSOLIDATED_STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (USD $)	Total	Common Units	Partners' Capital.	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interests	Appropriated Capital	Redeemable Noncontrolling Interests
In Thousands, except Share data, unless otherwise specified	USD ($)		USD ($)	USD ($)	USD ($)	USD ($)	USD ($)
Balance at Dec. 31, 2013	$45,957,011		$2,727,909	($5,899)	$43,235,001	$0	$627,807
Balance (in units) at Dec. 31, 2013		288,143,327
Increase (Decrease) in Partners' Capital
Net Income (Loss)	1,993,529		210,041		1,775,868	7,620	10,637
Other Comprehensive Income (Loss)-Foreign Currency Translation (Net of Tax)	5,343			1,071	4,184	88
Cumulative-effect adjustment from adoption of accounting guidance	0
Exchange of KKR Holdings L.P. Units and Other Exchangeable Securities to KKR & Co. L.P. Common Units			144,795	-274	-144,521
Exchange of KKR Holdings L.P. Units to KKR & Co. L.P. Common Units and Other Transfers (in units)		11,011,561
Tax Effects Resulting from Exchange of KKR Holdings L.P. Units and delivery of KKR & Co. L.P. Common Units	4,616		4,508	108
Net Delivery of Common Units-Equity Incentive Plan	28,379		28,379
Net Delivery of Common Units-Equity Incentive Plan (in units)		1,199,400
Equity Based Compensation	77,528		39,353		38,175
Acquisitions	56,495
Capital Contributions	4,564,205				4,564,205		45,418
Capital Distributions	-3,804,475		-138,308		-3,666,167		-18,286
Balance at Mar. 31, 2014	48,882,631		3,016,677	-4,994	45,863,240	7,708	665,576
Balance (in units) at Mar. 31, 2014		300,354,288
Balance at Dec. 31, 2014	51,403,963		5,403,095	-20,404	46,004,377	16,895	300,098
Balance (in units) at Dec. 31, 2014		433,330,540
Increase (Decrease) in Partners' Capital
Net Income (Loss)	1,941,076		270,507		1,670,569		1,933
Other Comprehensive Income (Loss)-Foreign Currency Translation (Net of Tax)	-22,426			-11,421	-11,005
Cumulative-effect adjustment from adoption of accounting guidance	-17,202		-307			-16,895
Exchange of KKR Holdings L.P. Units and Other Exchangeable Securities to KKR & Co. L.P. Common Units			59,495	-405	-59,090
Exchange of KKR Holdings L.P. Units to KKR & Co. L.P. Common Units and Other Transfers (in units)		4,723,823
Tax Effects Resulting from Exchange of KKR Holdings L.P. Units and delivery of KKR & Co. L.P. Common Units	274		198	76
Equity Based Compensation	76,550		52,265		24,285
Capital Contributions	1,880,114				1,880,114		2,485
Capital Distributions	-3,407,973		-151,733		-3,256,240		-1,347
Balance at Mar. 31, 2015	$51,854,376		$5,633,520	($32,154)	$46,253,010	$0	$303,169
Balance (in units) at Mar. 31, 2015		438,054,363

CONDENSED_CONSOLIDATED_STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Operating Activities
Net Income (Loss)	$1,943,009	$2,004,166
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided (Used) by Operating Activities:
Equity Based Compensation	76,550	77,528
Net Realized (Gains) Losses on Investments	-1,805,787	-750,627
Change in Unrealized (Gains) Losses on Investments	-114,038	-1,221,553
Other Non-Cash Amounts	-41,658	-16,433
Cash Flows Due to Changes in Operating Assets and Liabilities:
Change in Cash and Cash Equivalents Held at Consolidated Entities	-18,665	-325,902
Change in Due from / to Affiliates	32,340	-12,768
Change in Other Assets	208,921	-49,654
Change in Accounts Payable, Accrued Expenses and Other Liabilities	264,915	402,910
Investments Purchased	-5,656,487	-10,400,657
Proceeds from Sale of Investments and Principal Payments	6,054,272	9,389,630
Net Cash Provided (Used) by Operating Activities	943,372	-903,360
Investing Activities
Change in Restricted Cash and Cash Equivalents	49,629	-7,667
Purchase of Furniture, Computer Hardware and Leasehold Improvements	-3,783	-1,888
Development of Oil and Natural Gas Properties	-42,791	0
Proceeds from Sale of Oil and Natural Gas Properties	4,863	0
Net Cash Acquired (Paid for Acquisitions)	0	-58,922
Net Cash Provided (Used) by Investing Activities	7,918	-68,477
Financing Activities
Distributions to Partners	-151,733	-138,308
Distributions to Redeemable Noncontrolling Interests	-1,347	-18,286
Contributions from Redeemable Noncontrolling Interests	2,485	45,418
Distributions to Noncontrolling Interests	-3,256,240	-3,666,167
Contributions from Noncontrolling Interests	1,880,114	4,564,205
Net Delivery of Common Units - Equity Incentive Plan	0	28,379
Proceeds from Debt Obligations	1,808,100	308,435
Repayment of Debt Obligations	-837,235	-133,297
Financing Costs Paid	-6,539	0
Net Cash Provided (Used) by Financing Activities	-562,395	990,379
Net Increase/(Decrease) in Cash and Cash Equivalents	388,895	18,542
Cash and Cash Equivalents, Beginning of Period	918,080	1,306,383
Cash and Cash Equivalents, End of Period	1,306,975	1,324,925
Supplemental Disclosures of Cash Flow Information
Payments for Interest	100,334	40,143
Payments for Income Taxes	9,472	7,656
Supplemental Disclosures of Non-Cash Investing and Financing Activities
Non-Cash Contributions of Equity Based Compensation	76,550	77,528
Cumulative-effect adjustment from adoption of accounting guidance	-17,202	0
Debt Obligations-Foreign Exchange Gains (Losses), Translation and Other	-100,525	-7,356
Tax Effects Resulting from Exchange of KKR Holdings L.P. Units and delivery of KKR & Co. L.P. Common Units	274	4,616
Net Assets Acquired
Cash and Cash Equivalents Held at Consolidated Entities	0	150,302
Investments	0	1,247,079
Other Assets	0	109,557
Debt Obligations	0	1,150,551
Accounts Payable, Accrued Expenses and Other Liabilities	$0	$153,892

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2015
ORGANIZATION
ORGANIZATION	ORGANIZATION
	KKR & Co. L.P. (NYSE: KKR), together with its consolidated subsidiaries (“KKR”), is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside the capital it manages for fund investors and brings debt and equity investment opportunities to others through its capital markets business.
	KKR & Co. L.P. was formed as a Delaware limited partnership on June 25, 2007 and its general partner is KKR Management LLC (the “Managing Partner”). KKR & Co. L.P. is the parent company of KKR Group Limited, which is the non-economic general partner of KKR Group Holdings L.P. (“Group Holdings”), and KKR & Co. L.P. is the sole limited partner of Group Holdings. Group Holdings holds a controlling economic interest in each of (i) KKR Management Holdings L.P. (“Management Holdings”) through KKR Management Holdings Corp., a Delaware corporation which is a domestic corporation for U.S. federal income tax purposes, (ii) KKR Fund Holdings L.P. (“Fund Holdings”) directly and through KKR Fund Holdings GP Limited, a Cayman Island limited company which is a disregarded entity for U.S. federal income tax purposes, and (iii) KKR International Holdings L.P. (“International Holdings”, and together with Management Holdings and Fund Holdings, the “KKR Group Partnerships”) directly and through KKR Fund Holdings GP Limited. Group Holdings also owns certain economic interests in Management Holdings through a wholly owned Delaware corporate subsidiary of KKR Management Holdings Corp. and certain economic interests in Fund Holdings through a Delaware partnership of which Group Holdings is the general partner with a 99% economic interest and KKR Management Holdings Corp. is a limited partner with a 1% economic interest. KKR & Co. L.P., through its indirect controlling economic interests in the KKR Group Partnerships, is the holding partnership for the KKR business.
	KKR & Co. L.P. both indirectly controls the KKR Group Partnerships and indirectly holds Class A partner units in each KKR Group Partnership (collectively, “KKR Group Partnership Units”) representing economic interests in KKR’s business. The remaining KKR Group Partnership Units are held by KKR Holdings L.P. (“KKR Holdings”), which is not a subsidiary of KKR. As of March 31, 2015, KKR & Co. L.P. held approximately 54% of the KKR Group Partnership Units and principals through KKR Holdings held approximately 46% of the KKR Group Partnership Units. The percentage ownership in the KKR Group Partnerships will continue to change as KKR Holdings and/or principals exchange units in the KKR Group Partnerships for KKR & Co. L.P. common units or when KKR & Co. L.P. otherwise issues new KKR & Co. L.P. common units.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements of KKR & Co. L.P. have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q. The condensed consolidated financial statements (referred to hereafter as the “financial statements”), including these notes, are unaudited and exclude some of the disclosures required in annual financial statements. Management believes it has made all necessary adjustments (consisting of only normal recurring items) such that the condensed consolidated financial statements are presented fairly and that estimates made in preparing the condensed consolidated financial statements are reasonable and prudent. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. The December 31, 2014 condensed consolidated balance sheet data was derived from audited consolidated financial statements included in KKR’s Annual Report on Form 10-K for the year ended December 31, 2014, which include all disclosures required by GAAP. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in KKR & Co. L.P.’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”).
	KKR & Co. L.P. consolidates the financial results of the KKR Group Partnerships and their consolidated subsidiaries, which include the accounts of KKR’s investment management and capital markets companies, the general partners of certain unconsolidated funds and vehicles, general partners of consolidated funds and their respective consolidated funds and certain other entities including certain CLOs. References in the accompanying financial statements to “principals” are to KKR’s senior employees and non-employee operating consultants who hold interests in KKR’s business through KKR Holdings, and references to “Senior Principals” are to KKR’s senior employees who hold interests in the Managing Partner entitling them to vote for the election of the Managing Partner’s directors.
	Use of Estimates
	The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of fees, expenses and investment income (loss) during the reporting periods. Such estimates include but are not limited to the valuation of investments and financial instruments. Actual results could differ from those estimates, and such differences could be material to the financial statements.
	Principles of Consolidation
	The types of entities KKR assesses for consolidation include (i) subsidiaries, including management companies, broker-dealers and general partners of investment funds that KKR manages, (ii) entities that have all the attributes of an investment company, like investment funds, (iii) CLOs and (iv) other entities, including entities that employ non-employee operating consultants. Each of these entities is assessed for consolidation on a case by case basis depending on the specific facts and circumstances surrounding that entity.
	Pursuant to its consolidation policy, KKR first considers whether an entity is considered a VIE and therefore whether to apply the consolidation guidance under the VIE model.  Entities that do not qualify as VIEs are generally assessed for consolidation as voting interest entities (“VOEs”) under the voting interest model.
	The consolidation rules were revised effective January 1, 2010 which had the effect of changing the criteria for determining whether a reporting entity is the primary beneficiary of a VIE.  However, the adoption of these new consolidation rules was indefinitely deferred (the “Deferral”) for a reporting entity’s interests in certain entities.  In particular, entities that have all the attributes of an investment company such as investment funds generally meet the conditions necessary for the Deferral. Entities that are securitization or asset-backed financing entities such as CLOs would generally not qualify for the Deferral. Accordingly, when making the assessment of whether an entity is a VIE, KKR considers whether the entity being assessed meets the conditions for the Deferral and therefore would be subject to the rules that existed prior to January 1, 2010.  Under both sets of rules, VIEs for which KKR is determined to be the primary beneficiary are consolidated and such VIEs generally include certain CLO vehicles and entities that employ non-employee operating consultants.
	An entity in which KKR holds a variable interest is a VIE if any one of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support, (b) the holders of equity investment at risk (as a group) lack either the direct or indirect ability through voting rights or similar rights to make decisions about a legal entity’s activities that have a significant effect on the success of the legal entity or the obligation to absorb the expected losses or right to receive the expected residual returns, or (c) the voting rights of some investors are disproportionate to their obligation to absorb the expected losses of the legal entity, their rights to receive the expected residual returns of the legal entity, or both and substantially all of the legal entity’s activities either involve or are conducted on behalf of an investor with disproportionately few voting rights.
	With respect to VIEs such as KKR’s investment funds that qualify for the Deferral and therefore apply the previous consolidation rules, KKR is determined to be the primary beneficiary if its involvement, through holding interests directly or indirectly in the VIE or contractually through other variable interests (e.g., carried interest), would be expected to absorb a majority of the VIE’s expected losses, receive a majority of the VIE’s expected residual returns, or both. In cases where two or more KKR related parties hold a variable interest in a VIE, and the aggregate variable interest held by those parties would, if held by a single party, identify that party as the primary beneficiary, then KKR is determined to be the primary beneficiary to the extent it is the party within the related party group that is most closely associated with the VIE.
	Under the voting interest model, KKR consolidates those entities it controls through a majority voting interest or through other means, including those VOEs in which the general partner is presumed to have control. KKR does not consolidate those VOEs in which the presumption of control by the general partner has been overcome through either the granting of substantive rights to the unaffiliated fund investors to either dissolve the fund or remove the general partner (“kick-out rights”) or the granting of substantive participating rights.
	The consolidation assessment, including the determination as to whether an entity qualifies as a VIE or VOE depends on the facts and circumstances surrounding each entity and therefore certain of KKR’s investment funds may qualify as VIEs whereas others may qualify as VOEs.
	With respect to KKR’s consolidated funds that are not CLOs, KKR meets the criteria for the Deferral and therefore applies the consolidation rules that existed prior to January 1, 2010.  For these funds, KKR generally has operational discretion and control, and fund investors have no substantive rights to impact ongoing governance and operating activities of the fund, including the ability to remove the general partner, also known as kick-out rights. As a result, a fund should be consolidated unless KKR has a nominal level of equity at risk. To the extent that KKR commits a nominal amount of equity to a given fund and has no obligation to fund any future losses, the equity at risk to KKR is not considered substantive and the fund is typically considered a VIE. In these cases, the fund investors are generally deemed to be the primary beneficiaries, and KKR does not consolidate the fund. In cases when KKR’s equity at risk is deemed to be substantive, the fund is generally considered to be a VOE and KKR generally consolidates the fund under the VOE model.
	With respect to CLOs, which are generally VIEs, the criteria for the Deferral are not met and therefore KKR applies the consolidation rules issued on January 1, 2010.  In its role as collateral manager, KKR generally has the power to direct the activities of the CLO entities that most significantly impact the economic performance of the entity.  In some, but not all cases, KKR, through both its residual interest in the CLO and the potential to earn an incentive fee, may have variable interests that represent an obligation to absorb losses of, or a right to receive benefits from, the CLO that could potentially be significant to the CLO.  In cases where KKR has both (a) the power to direct the activities of the CLO that most significantly impact the CLOs economic performance and (b) the obligation to absorb losses of the CLO or the right to receive benefits from the CLO that could potentially be significant to the CLO, KKR consolidates the CLO.
	Certain of KKR’s funds and CLOs are consolidated by KKR notwithstanding the fact that KKR has only a minority economic interest in those funds and CLOs. KKR’s financial statements reflect the assets, liabilities, fees, expenses, investment income (loss) and cash flows of the consolidated KKR funds and CLOs on a gross basis, and the majority of the economic interests in those funds and CLOs, which are held by fund investors or other third parties, are attributed to noncontrolling interests in the accompanying financial statements. All of the management fees and certain other amounts earned by KKR from those funds and CLOs are eliminated in consolidation. However, because the eliminated amounts are earned from and funded by noncontrolling interests, KKR’s attributable share of the net income (loss) from those funds and CLOs is increased by the amounts eliminated. Accordingly, the elimination in consolidation of such amounts has no effect on net income (loss) attributable to KKR or KKR partners’ capital.
	KKR’s funds are, for GAAP purposes, investment companies and therefore are not required to consolidate their investments in portfolio companies even if majority-owned and controlled. Rather, the consolidated funds and vehicles reflect their investments at fair value as described below in “Fair Value Measurements”.
	All intercompany transactions and balances have been eliminated.
	Variable Interest Entities — Collateralized Loan Obligations
	As of January 1, 2015, KKR has adopted the measurement alternative included in ASU 2014-13, “Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity” (“ASU 2014-13”), and has applied the amendments using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of January 1, 2015. Refer to the condensed consolidated statements of changes in equity.
	Pursuant to ASU 2014-13, KKR measures both the financial assets and financial liabilities of the consolidated CLOs in its condensed consolidated financial statements using the more observable of the fair value of the financial assets and the fair value of the financial liabilities. KKR believes the fair value of the financial assets of the consolidated CLOs, which are Level II assets within the GAAP hierarchical levels, are more observable than the fair value of the financial liabilities of the consolidated CLOs, which are Level III liabilities. As a result, the financial assets of the consolidated CLOs are being measured at fair value and the financial liabilities are being measured in consolidation as: (1) the sum of the fair value of the financial assets and the carrying value of any nonfinancial assets that are incidental to the operations of the CLOs less (2) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and KKR’s carrying value of any beneficial interests that represent compensation for services. The resulting amount is allocated to the individual financial liabilities (other than the beneficial interests retained by KKR) using a reasonable and consistent methodology. Under the measurement alternative, KKR’s condensed consolidated net income (loss) reflects KKR’s own economic interests in the consolidated CLOs including (i) changes in the fair value of the beneficial interests retained by KKR and (ii) beneficial interests that represent compensation for collateral management services.
	Prior to the adoption of ASU 2014-13, KKR elected the fair value option for the assets and liabilities of the consolidated CLO vehicles. KKR accounted for the difference between the fair value of the assets and the fair value of the liabilities of the consolidated CLOs in Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations. This amount was attributed to KKR and third party beneficial interest holders based on each beneficial holder’s residual interest in the consolidated CLOs. The amount attributed to third party beneficial interest holders was reflected in the condensed consolidated statements of operations in Net Income (Loss) Attributable to Noncontrolling Interests and Appropriated Capital and in the condensed consolidated statements of financial condition in Appropriated Capital within Equity. The amount was recorded as Appropriated Capital since the other holders of the CLOs’ beneficial interests, not KKR, received the benefits or absorbed the losses associated with their proportionate share of the CLOs’ assets and liabilities.
	Business Combinations
	Acquisitions are accounted for using the acquisition method of accounting. The purchase price of an acquisition is allocated to the assets acquired and liabilities assumed using the estimated fair values at the acquisition date. Transaction costs are expensed as incurred.
	Oil and Natural Gas Properties
	KKR proportionately consolidates working and royalty interests in oil and natural gas producing properties, which as a result of the acquisition of KKR Financial Holdings LLC ("KFN") on April 30, 2014 became more significant.
	Oil and natural gas producing activities are accounted for under the successful efforts method of accounting. Under this method, exploration costs, other than the costs of drilling exploratory wells, are charged to expense as incurred. Costs that are associated with the drilling of successful exploration wells are capitalized if proved reserves are found. Lease acquisition costs are capitalized when incurred. Costs associated with the drilling of exploratory wells that do not find proved reserves, geological and geophysical costs and costs of certain nonproducing leasehold costs are charged to expense as incurred.
	Expenditures for repairs and maintenance, including workovers, are charged to expense as incurred.
	The capitalized costs of producing oil and natural gas properties are depleted on a field-by-field basis using the units-of production method based on the ratio of current production to estimated total net proved oil, natural gas and natural gas liquid reserves. Proved developed reserves are used in computing depletion rates for drilling and development costs and total proved reserves are used for depletion rates of leasehold costs.
	Estimated dismantlement and abandonment costs for oil and natural gas properties, net of salvage value, are capitalized at their estimated net present value and amortized on a unit-of-production basis over the remaining life of the related proved developed reserves.
	Whenever events or changes in circumstances indicate that the carrying amounts of oil and natural gas properties may not be recoverable, KKR evaluates the proved oil and natural gas properties and related equipment and facilities for impairment on a field-by-field basis. The determination of recoverability is made based upon estimated undiscounted future net cash flows. The amount of impairment loss, if any, is determined by comparing the fair value, as determined by a discounted cash flow analysis, with the carrying value of the related asset. Unproved oil and natural gas properties are assessed periodically and, at a minimum, annually on a property-by-property basis, and any impairment in value is recognized when incurred and is recorded in General, Administrative, and Other expense in the condensed consolidated statements of operations.
	Intangible Assets
	Intangible assets consist primarily of contractual rights to earn future fee income, including management and incentive fees, and are recorded in Other Assets in the accompanying condensed consolidated statements of financial condition. Identifiable finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives and amortization expense is included within General, Administrative and Other in the accompanying condensed consolidated statements of operations. Intangible assets are reviewed for impairment when circumstances indicate impairment may exist. KKR does not have any indefinite-lived intangible assets.
	Goodwill
	Goodwill represents the excess of acquisition cost over the fair value of net tangible and intangible assets acquired in connection with an acquisition. Goodwill is assessed for impairment annually or more frequently if circumstances indicate impairment may have occurred. Goodwill is recorded in Other Assets in the accompanying condensed consolidated statements of financial condition.
	Redeemable Noncontrolling Interests
	Redeemable Noncontrolling Interests represent noncontrolling interests of certain investment vehicles and funds that are subject to periodic redemption by fund investors following the expiration of a specified period of time (typically between one and three years), or may be withdrawn subject to a redemption fee during the period when capital may not be otherwise withdrawn. Fund investors interests subject to redemption as described above are presented as Redeemable Noncontrolling Interests in the accompanying condensed consolidated statements of financial condition and presented as Net Income (Loss) Attributable to Redeemable Noncontrolling Interests in the accompanying condensed consolidated statements of operations.
	When redeemable amounts become legally payable to fund investors, they are classified as a liability and included in Accounts Payable, Accrued Expenses and Other Liabilities in the accompanying condensed consolidated statements of financial condition. For all consolidated investment vehicles and funds in which redemption rights have not been granted, noncontrolling interests are presented within Equity in the accompanying condensed consolidated statements of financial condition as noncontrolling interests.
	Noncontrolling Interests
	Noncontrolling interests represent (i) noncontrolling interests in consolidated entities and (ii) noncontrolling interests held by KKR Holdings.
	Noncontrolling Interests in Consolidated Entities
	Noncontrolling interests in consolidated entities represent the non-redeemable ownership interests in KKR that are held primarily by:
	(i)	third party fund investors in KKR’s funds;
	(ii)	third parties holding an aggregate of 1% of the carried interest received by the general partners of KKR’s funds and 1% of KKR’s other profits (losses) until a future date;
	(iii)	certain former principals and their designees representing a portion of the carried interest received by the general partners of KKR’s private equity funds that was allocated to them with respect to private equity investments made during such former principals’ tenure with KKR prior to October 1, 2009;
	(iv)	certain principals and former principals representing all of the capital invested by or on behalf of the general partners of KKR’s private equity funds prior to October 1, 2009 and any returns thereon;
	(v)	third parties in KKR’s capital markets business;
	(vi)	holders of exchangeable equity securities representing ownership interests in a subsidiary of a KKR Group Partnership issued in connection with the acquisition of Avoca; and
	(vii)	holders of the 7.375% Series A LLC Preferred Shares of KFN whose rights are limited to the assets of KFN.
	Noncontrolling Interests held by KKR Holdings
	Noncontrolling interests held by KKR Holdings include economic interests held by principals in the KKR Group Partnerships. Such principals receive financial benefits from KKR’s business in the form of distributions received from KKR Holdings and through their direct and indirect participation in the value of KKR Group Partnership Units held by KKR Holdings. These financial benefits are not paid by KKR and are borne by KKR Holdings.
	The following table presents the calculation of noncontrolling interests held by KKR Holdings:
		Three months ended March 31,
		2015			2014
	Balance at the beginning of the period	$	4,661,679		$	5,116,761
	Net income (loss) attributable to noncontrolling interests held by KKR Holdings (a)	239,008			300,814
	Other comprehensive income (loss), net of tax (b)	(11,077		)	2,469
	Impact of the exchange of KKR Holdings units to KKR & Co. L.P. common units (c)	(58,140		)	(144,521		)
	Equity based compensation	20,517			35,150
	Capital contributions	250			460
	Capital distributions	(132,274		)	(192,642		)
	Balance at the end of the period	$	4,719,963		$	5,118,491
	(a)	Refer to the table below for calculation of Net income (loss) attributable to noncontrolling interests held by KKR Holdings.
(b)	Calculated on a pro rata basis based on the weighted average KKR Group Partnership Units held by KKR Holdings during the reporting period.
(c)	Calculated based on the proportion of KKR Holdings units exchanged for KKR & Co. L.P. common units pursuant to the exchange agreement during the reporting period. The exchange agreement provides for the exchange of KKR Group Partnership Units held by KKR Holdings for KKR & Co. L.P. common units.
Net income (loss) attributable to KKR & Co. L.P. after allocation to noncontrolling interests held by KKR Holdings, with the exception of certain tax assets and liabilities that are directly allocable to KKR Management Holdings Corp., is attributed based on the percentage of the weighted average KKR Group Partnership Units held by KKR and KKR Holdings, each of which hold equity of the KKR Group Partnerships. However, primarily because of the (i) contribution of certain expenses borne entirely by KKR Holdings, (ii) the periodic exchange of KKR Holdings units for KKR & Co. L.P. common units pursuant to the exchange agreement and (iii) the contribution of certain expenses borne entirely by KKR associated with the KKR & Co. L.P. 2010 Equity Plan (“Equity Incentive Plan”), equity allocations shown in the condensed consolidated statement of changes in equity differ from their respective pro-rata ownership interests in KKR’s net assets.
The following table presents net income (loss) attributable to noncontrolling interests held by KKR Holdings:
	Three months ended March 31,
	2015			2014
Net income (loss)	$	1,943,009		$	2,004,166
Less: Net income (loss) attributable to Redeemable Noncontrolling Interests	1,933			10,637
Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities and appropriated capital	1,431,561			1,482,674
Plus: Income taxes attributable to KKR Management Holdings Corp.	6,053			10,947
Net income (loss) attributable to KKR & Co. L.P. and KKR Holdings	$	515,568		$	521,802
Net income (loss) attributable to noncontrolling interests held by KKR Holdings	$	239,008		$	300,814
Investments
Investments consist primarily of private equity, real assets, credit, investments of consolidated CLOs, and other investments. Investments are carried at their estimated fair values, with unrealized gains or losses resulting from changes in fair value reflected as a component of Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations. Investments denominated in currencies other than the U.S. dollar are valued based on the spot rate of the respective currency at the end of the reporting period with changes related to exchange rate movements reflected as a component of Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations. Security and loan transactions are recorded on a trade date basis. Further disclosure on investments is presented in Note 4, “Investments.”
The following describes the types of securities held within each investment class.
Private Equity —Consists primarily of equity investments in operating businesses.
Real Assets —Consists primarily of investments in (i) energy related assets, principally oil and natural gas producing properties held through consolidated investment vehicles, (ii) infrastructure assets, and (iii) real estate, principally residential and commercial real estate assets and businesses.
Credit —Consists primarily of investments in below investment grade corporate debt securities (primarily high yield bonds and syndicated bank loans), distressed and opportunistic debt and interests in unconsolidated CLOs.
Investments of Consolidated CLOs — Consists primarily of investments in below investment grade corporate debt securities (primarily high yield bonds and syndicated bank loans) held directly by the consolidated CLOs.
Other —Consists primarily of (i) investments in common stock, preferred stock, warrants and options of companies that are not private equity, real assets, credit and investments of consolidated CLOs as well as (ii) equity method investments.
Equity Method
Equity method investments include (i) certain investments in private equity funds, real assets funds and credit funds, which are not consolidated, and (ii) certain investments in operating companies in which KKR is deemed to exert significant influence. Under the equity method of accounting, KKR’s share of earnings (losses) from equity method investments is reflected as a component of Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations. Because the underlying investments of unconsolidated investment funds are reported at fair value, the carrying value of these equity method investments representing KKR’s interests in unconsolidated funds approximates fair value. The carrying value of equity method investments in certain operating companies, which KKR is determined to exert significant influence, is determined based on the amounts invested by KKR, adjusted for the equity in earnings or losses of the investee allocated based on KKR’s respective ownership percentage, less distributions. In some cases, KKR has elected the fair value option to account for certain of these equity method investments.
Fair Value Measurements
Investments and other financial instruments are measured and carried at fair value. The majority of investments and other financial instruments are held by the consolidated funds and vehicles. KKR’s funds are, for GAAP purposes, investment companies and reflect their investments and other financial instruments at fair value. KKR has retained the specialized accounting for the consolidated funds and vehicles in consolidation. Accordingly, the unrealized gains and losses resulting from changes in fair value of the investments held by KKR’s funds are reflected as a component of Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations.
For investments and other financial instruments that are not held in a consolidated fund or vehicle, KKR has elected the fair value option since these investments and other financial instruments are similar to those in the consolidated funds and vehicles. 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 Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations. The methodology for measuring the fair value of such investments and other financial instruments is consistent with the methodologies applied to investments and other financial instruments that are held in consolidated funds and vehicles. In addition, KKR has elected the fair value option for the investments of the consolidated CLO vehicles.
The carrying amounts of Other Assets, Accounts Payable, Accrued Expenses and Other Liabilities recognized on the condensed consolidated statements of financial condition (excluding fixed assets, goodwill, intangible assets, oil & gas assets, net, contingent consideration and certain debt obligations) approximate fair value due to their short term maturities. Further information on KKR’s debt obligations are presented in Note 9, “Debt Obligations.”
Fair value is the price 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. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation techniques are applied. These valuation techniques involve varying levels of management estimation and judgment, the degree of which is dependent on a variety of factors. See Note 5, “Fair Value Measurements” for further information on KKR’s valuation techniques that involve unobservable inputs. Assets and liabilities recorded at fair value in the statements of financial condition are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, as defined under GAAP, are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets and liabilities. The hierarchical levels defined under GAAP are as follows:
Level I
Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. The type of investments and other financial instruments included in this category are publicly-listed equities, debt and securities sold short.
Level II
Inputs are other than quoted prices that are observable for the asset or liability, either directly or indirectly. Level II inputs include quoted prices for similar instruments in active markets, and inputs other than quoted prices that are observable for the asset or liability. The type of investments and other financial instruments included in this category are credit investments, investments and debt obligations of consolidated CLOs (beginning on January 1, 2015), convertible debt securities indexed to publicly-listed securities, less liquid and restricted equity securities and certain over-the-counter derivatives such as foreign currency option and forward contracts.
Level III
Inputs are unobservable for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. The types of assets and liabilities generally included in this category are private portfolio companies, real assets investments, credit investments and debt obligations of consolidated CLOs (prior to January 1, 2015) for which a sufficiently liquid trading market does not exist.
In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. KKR’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the asset.
A significant decrease in the volume and level of activity for the asset or liability is an indication that transactions or quoted prices may not be representative of fair value because in such market conditions there may be increased instances of transactions that are not orderly. In those circumstances, further analysis of transactions or quoted prices is needed, and a significant adjustment to the transactions or quoted prices may be necessary to estimate fair value.
The availability of observable inputs can vary depending on the financial asset or liability and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument has recently been issued, whether the instrument is traded on an active exchange or in the secondary market, and current market conditions. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by KKR in determining fair value is greatest for instruments categorized in Level III. The variability and availability of the observable inputs affected by the factors described above may cause transfers between Levels I, II, and III, which KKR recognizes at the beginning of the reporting period.
Investments and other financial instruments that have readily observable market prices (such as those traded on a securities exchange) are stated at the last quoted sales price as of the reporting date. KKR does not adjust the quoted price for these investments, even in situations where KKR holds a large position and a sale could reasonably affect the quoted price.
Management’s determination of fair value is based upon the best information available for a given circumstance and may incorporate assumptions that are management’s best estimates after consideration of a variety of internal and external factors.
Level II Valuation Methodologies
Financial assets and liabilities categorized as Level II consist primarily of credit investments, investments and debt obligations of consolidated CLOs, convertible debt securities indexed to publicly-listed securities, less liquid and restricted equity securities and certain over-the-counter derivatives such as foreign currency option and forward contracts.
Credit investments and investments of consolidated CLOs: These investments generally have bid and ask prices that can be observed in the marketplace. Bid prices reflect the highest price that KKR and others are willing to pay for an asset. Ask prices represent the lowest price that KKR and others are willing to accept for an asset. For financial assets and liabilities whose inputs are based on bid-ask prices obtained from third party pricing services, fair value may not always be a predetermined point in the bid-ask range. KKR’s policy is generally to allow for mid-market pricing and adjusting to the point within the bid-ask range that meets KKR’s best estimate of fair value.
Securities indexed to publicly listed securities: The securities are typically valued using standard convertible security pricing models. The key inputs into these models that require some amount of judgment are the credit spreads utilized and the volatility assumed. To the extent the company being valued has other outstanding debt securities that are publicly-traded, the implied credit spread on the company’s other outstanding debt securities would be utilized in the valuation. To the extent the company being valued does not have other outstanding debt securities that are publicly-traded, the credit spread will be estimated based on the implied credit spreads observed in comparable publicly-traded debt securities. In certain cases, an additional spread will be added to reflect an illiquidity discount due to the fact that the security being valued is not publicly-traded. The volatility assumption is based upon the historically observed volatility of the underlying equity security into which the convertible debt security is convertible and/or the volatility implied by the prices of options on the underlying equity security.
Restricted Equity Securities: The valuation of certain equity securities is based on an observable price for an identical security adjusted for the effect of a restriction.
Derivatives: The valuation incorporates observable inputs comprising yield curves, foreign currency rates and credit spreads.
CLO Debt Obligations: Beginning on January 1, 2015 with the adoption of ASU 2014-13, KKR measures CLO debt obligations on the basis of the fair value of the financial assets of the CLO.
Level III Valuation Methodologies
Financial assets and liabilities categorized as Level III consist primarily of the following:
Private Equity Investments: KKR generally employs two valuation methodologies when determining the fair value of a private equity investment. The first methodology is typically a market comparables analysis that considers key financial inputs and recent public and private transactions and other available measures. The second methodology utilized is typically a discounted cash flow analysis, which incorporates significant assumptions and judgments. Estimates of key inputs used in this methodology include the weighted average cost of capital for the investment and assumed inputs used to calculate terminal values, such as exit EBITDA multiples. Other inputs are also used in both methodologies. However, when a definitive agreement has been executed to sell an investment, KKR generally considers a significant determinant of fair value to be the consideration to be received by KKR pursuant to the executed definitive agreement.
Upon completion of the valuations conducted using these methodologies, a weighting is ascribed to each method, and an illiquidity discount is typically applied where appropriate. The ultimate fair value recorded for a particular investment will generally be within a range suggested by the two methodologies, except that the value may be higher or lower than such range in the case of investments being sold pursuant to an executed definitive agreement.
When determining the weighting ascribed to each valuation methodology, KKR considers, among other factors, the availability of direct market comparables, the applicability of a discounted cash flow analysis, the expected hold period and manner of realization for the investment, and in the case of investments being sold pursuant to an executed definitive agreement, the probability of such sale being completed. These factors can result in different weightings among investments in the portfolio and in certain instances may result in up to a 100% weighting to a single methodology. Across the Level III private equity investment portfolio, approximately 55.4% of the fair value is derived from investments that are valued based exactly 50% on market comparables and 50% on a discounted cash flow analysis. Less than 5% of the fair value of the Level III private equity investment portfolio is derived from investments that are valued either based 100% on market comparables or 100% on a discounted cash flow analysis.
When an illiquidity discount is to be applied, KKR seeks to take a uniform approach across its portfolio and generally applies a minimum 5% discount to all private equity investments. KKR then evaluates such private equity investments to determine if factors exist that could make it more challenging to monetize the investment and, therefore, justify applying a higher illiquidity discount. These factors generally include (i) whether KKR is unable to sell the portfolio company or conduct an initial public offering of the portfolio company due to the consent rights of a third party or similar factors, (ii) whether the portfolio company is undergoing significant restructuring activity or similar factors and (iii) characteristics about the portfolio company regarding its size and/or whether the portfolio company is experiencing, or expected to experience, a significant decline in earnings. These factors generally make it less likely that a portfolio company would be sold or publicly offered in the near term at a price indicated by using just a market multiples and/or discounted cash flow analysis, and these factors tend to reduce the number of opportunities to sell an investment and/or increase the time horizon over which an investment may be monetized. Depending on the applicability of these factors, KKR determines the amount of any incremental illiquidity discount to be applied above the 5% minimum, and during the time KKR holds the investment, the illiquidity discount may be increased or decreased, from time to time, based on changes to these factors. The amount of illiquidity discount applied at any time requires considerable judgment about what a market participant would consider and is based on the facts and circumstances of each individual investment. Accordingly, the illiquidity discount ultimately considered by a market participant upon the realization of any investment may be higher or lower than that estimated by KKR in its valuations.
Real Assets Investments: Real asset investments in infrastructure, energy and real estate are valued using one or more of the discounted cash flow analysis, market comparables analysis and direct income capitalization, which in each case incorporates significant assumptions and judgments. Infrastructure investments are generally valued using the discounted cash flow analysis. Key inputs used in this methodology include the weighted average cost of capital and assumed inputs used to calculate terminal values, such as exit EBITDA multiples. Energy investments are generally valued using a discounted cash flow analysis. Key inputs used in this methodology that require estimates include the weighted average cost of capital. In addition, the valuations of energy investments generally incorporate both commodity prices as quoted on indices and long-term commodity price forecasts, which may be substantially different from, and are currently higher than, commodity prices on certain indices for equivalent future dates. Certain energy investments do not include an illiquidity discount. Long-term commodity price forecasts are utilized to capture the value of the investments across a range of commodity prices within the energy investment portfolio associated with future development and to reflect a range of price expectations. Real estate investments are generally valued using a combination of direct income capitalization and discounted cash flow analysis. Key inputs used in such methodologies that require estimates include an unlevered discount rate and current capitalization rate, and certain real estate investments do not include a minimum illiquidity discount. The valuations of real assets investments also use other inputs.
Credit Investments: Credit investments are valued using values obtained from dealers or market makers, and where these values are not available, credit investments are valued by KKR based on ranges of valuations determined by an independent valuation firm. Valuation models are based on discounted cash flow analyses, for which the key inputs are determined based on market comparables, which incorporate similar instruments from similar issuers.
Other Investments: With respect to other investments including equity method investments for which the fair value election has been made, KKR generally employs the same valuation methodologies as described above for private equity investments when valuing these other investments.
CLO Debt Obligations: Prior to January 1, 2015 and the adoption of ASU 2014-13, collateralized loan obligation senior secured and subordinated notes were initially valued at the transaction price and were subsequently valued using a third party valuation service. The approach used to estimate the fair values was the discounted cash flow method, which includes consideration of the cash flows of the debt obligation based on projected quarterly interest payments and quarterly amortization. The debt obligations were discounted based on the appropriate yield curve given the debt obligation's respective maturity and credit rating. The most significant inputs to the valuation of these financial instruments were default and loss expectations and discount margins. As described above in Fair Value Measurements - Summary of Significant Accounting Policies - Level II Valuation Methodologies, beginning on January 1, 2015, with the adoption of ASU 2014-13, KKR measures CLO debt obligations on the basis of the fair value of the financial assets of the CLO.
Key unobservable inputs that have a significant impact on KKR’s Level III investment valuations as described above are included in Note 5 “Fair Value Measurements.” KKR utilizes several unobservable pricing inputs and assumptions in determining the fair value of its Level III investments. These unobservable pricing inputs and assumptions may differ by investment and in the application of KKR’s valuation methodologies. KKR’s reported fair value estimates could vary materially if KKR had chosen to incorporate different unobservable pricing inputs and other assumptions or, for applicable investments, if KKR only used either the discounted cash flow methodology or the market comparables methodology instead of assigning a weighting to both methodologies.
Level III Valuation Process
The valuation process involved for Level III measurements is completed on a quarterly basis and is designed to subject the valuation of Level III investments to an appropriate level of consistency, oversight, and review. KKR has a Private Markets valuation committee for private equity and real assets investments and a valuation committee for credit (including investments held by consolidated CLOs) and other investments. The Private Markets valuation committee is assisted by subcommittees in the valuation of real asset investments. Each of the Private Markets valuation committee and the credit valuation committee is assisted by a valuation team, which, except as noted below, is comprised only of employees who are not investment professionals responsible for preparing preliminary valuations or for oversight of the investments being valued. The valuation teams or subcommittees for real asset investments include investment professionals who participate in the preparation of preliminary valuations and oversight for those investments. The valuation committees and teams are responsible for coordinating and consistently implementing KKR’s quarterly valuation policies, guidelines and processes. For Private Markets investments classified as Level III, investment professionals prepare preliminary valuations based on their evaluation of financial and operating data, company specific developments, market valuations of comparable companies and other factors. These preliminary valuations are reviewed with the investment professionals by the applicable valuation team and are also reviewed by an independent valuation firm engaged by KKR to perform certain procedures in order to assess the reasonableness of KKR’s valuations annually for all Level III investments in Private Markets and quarterly for investments other than certain investments, which are less than pre-set value thresholds and which in the aggregate comprise less than 5% of the total value of KKR’s Level III Private Markets investments. For most investments classified as Level III in Public Markets, in general, an independent valuation firm is engaged by KKR to provide third party valuations, or ranges of valuations from which KKR’s investment professionals select a point in the range to determine the preliminary valuation, or an independent valuation firm is engaged by KKR to perform certain procedures in order to assess the reasonableness and provide positive assurance of KKR’s valuations. All preliminary valuations in Private Markets and Public Markets are then reviewed by the applicable valuation committee, and after reflecting any input by their respective valuation committees, the preliminary valuations are presented to the firm’s management committee. When these valuations are approved by this committee after reflecting any input from it, the valuations of Level III investments, as well as the valuations of Level I and Level II investments, are presented to the audit committee of KKR’s board of directors and are then reported on to the board of directors.
Fees and Other
Fees and other consist primarily of (i) transaction fees earned in connection with successful investment transactions and from capital markets activities, (ii) management and incentive fees from providing investment management services to unconsolidated funds, CLOs, other vehicles, and separately managed accounts, (iii) monitoring fees from providing services to portfolio companies, (iv) revenue earned by oil and gas-producing entities that are consolidated and (v) consulting fees earned by entities that employ non-employee operating consultants.
For the three months ended March 31, 2015 and 2014, respectively, fees and other consisted of the following:
	Three Months Ended
	March 31,
	2015			2014
Monitoring Fees	$	111,525		$	52,349
Transaction Fees	92,605			155,154
Management Fees	48,205			50,185
Oil and Gas Revenue	24,944			17,781
Consulting Fees	8,427			10,351
Incentive Fees	5,639			17,106
Total Fees and Other	$	291,345		$	302,926
All fees presented in the table above, except for oil and gas revenue, are earned from KKR investment funds, vehicles and portfolio companies. Consulting fees are earned by certain consolidated entities that employ non-employee operating consultants from providing advisory and other services to portfolio companies and other companies and are recognized as the services are rendered. These fees are separately negotiated with each company for which services are provided and are not shared with KKR.
Monitoring, Transaction, Management, Consulting, and Incentive Fees Recognition
Monitoring, transaction, management, consulting and incentive fees are recognized when earned based on the contractual terms of the governing agreements and coincides with the period during which the related services are performed. In the case of transaction fees, the fees are recognized upon closing of the transaction. Monitoring fees may provide for a termination payment following an initial public offering or change of control. These termination payments are recognized in the period when the related transaction closes.
Oil and Gas Revenue Recognition
Oil and gas revenues are recognized when production is sold to a purchaser at fixed or determinable prices, when delivery has occurred and title has transferred and collectability of the revenue is reasonably assured. The oil and gas producing entities consolidated by KKR follow the sales method of accounting for natural gas revenues. Under this method of accounting, revenues are recognized based on volumes sold, which may differ from the volume to which the entity is entitled based on KKR’s working interest. An imbalance is recognized as a liability only when the estimated remaining reserves will not be sufficient to enable the under-produced owners to recoup their entitled share through future production. Under the sales method, no receivables are recorded when these entities have taken less than their share of production and no payables are recorded when it has taken more than its share of production unless reserves are not sufficient.
Recently Issued Accounting Pronouncements
Revenue from Contracts with Customers
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers Topic 606 (“ASU 2014-09”) which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. Revenue recorded under ASU 2014-09 will depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In April 2015, the FASB proposed to defer the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017 and early adoption is not permitted. A full retrospective or modified retrospective approach is required. KKR is currently evaluating the impact the adoption of this guidance may have on its financial statements, including with respect to the timing of the recognition of carried interest.
Measurement of Financial Assets and Liabilities - Consolidated Collateralized Financing Entities
In August 2014, the FASB issued ASU 2014‑13, “Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity” (“CFE”), such as CLOs. ASU 2014‑13 provides an entity with an election to measure the financial assets and financial liabilities of a consolidated CFE on the basis of either the fair value of the CFE’s financial assets or financial liabilities, whichever is more observable. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted and this guidance was early adopted by KKR on January 1, 2015 using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the annual period. Refer above to Variable Interest Entities - Collateralized Loan Obligations.
Going Concern
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements — Going Concern (Subtopic 205-40) Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”).  The guidance in ASU 2014-15 sets forth management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern as well as required disclosures. ASU 2014-15 indicates that, when preparing interim and annual financial statements, management should evaluate whether conditions or events, in the aggregate, raise substantial doubt about the entity’s ability to continue as a going concern for one year from the date the financial statements are issued or are available to be issued. This evaluation should include consideration of conditions and events that are either known or are reasonably knowable at the date the financial statements are issued or are available to be issued, as well as whether it is probable that management’s plans to address the substantial doubt will be implemented and, if so, whether it is probable that the plans will alleviate the substantial doubt. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods and annual periods thereafter. Early adoption is permitted, and a prospective approach is required. The adoption of this guidance is not expected to have a material impact on KKR’s financial statements.
Derivatives and Hedging
In November 2014, the FASB issued ASU No. 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity ("ASU 2014-16"). The guidance in ASU 2014-16 states that implied substantive terms and features of a hybrid financial instrument issued in the form of a stock should weigh each term and feature on the basis of relevant facts and circumstances. An entity should determine the nature of the host contract by considering the economic characteristics and risks of the entire hybrid financial instrument, including the embedded derivative feature that is being evaluated for separate accounting from the host contract. ASU 2014-16 is effective for reporting periods starting after December 15, 2015 and for interim periods within the fiscal year. Early adoption is permitted, and a retrospective approach is permitted but not required. The adoption of this guidance is not expected to have a material impact on KKR's financial statements.
Consolidation
In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis ("ASU 2015-02"). The guidance in ASU 2015-02 eliminates the presumption that a general partner should consolidate a limited partnership and also eliminates the consolidation model specific to limited partnerships. The amendments also clarify how to treat fees paid to an asset manager or other entity that makes the decisions for the investment vehicle and whether such fees should be considered in determining when a variable interest entity should be reported on an asset manager's balance sheet. ASU 2015-02 is effective for reporting periods starting after December 15, 2015 and for interim periods within the fiscal year. Early adoption is permitted, and a full retrospective or modified retrospective approach is required. KKR is evaluating the impact on its financial statements and expects to deconsolidate certain investment funds, vehicles and entities upon adoption of this guidance.
Interest - Imputation of Interest
In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). The guidance in ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted, and a retrospective approach is required. The adoption of this guidance is not expected to have a material impact on KKR’s financial statements.

NET_GAINS_LOSSES_FROM_INVESTME

NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES	NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES
	Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations consist primarily of the realized and unrealized gains and losses on investments (including foreign exchange gains and losses attributable to foreign denominated investments and related activities) and other financial instruments, including those for which the fair value option has been elected. Unrealized gains or losses result from changes in the fair value of these investments and other financial instruments during a period. Upon disposition of an investment or financial instrument, previously recognized unrealized gains or losses are reversed and an offsetting realized gain or loss is recognized in the current period.
	The following table summarizes total Net Gains (Losses) from Investment Activities for the three months ended March 31, 2015 and 2014, respectively:
		Three Months Ended						Three Months Ended
		March 31, 2015						March 31, 2014
		Net Realized			Net Unrealized			Net Realized			Net Unrealized
		Gains (Losses)			Gains (Losses)			Gains (Losses)			Gains (Losses)
	Private Equity (a)	$	1,619,876		$	271,278		$	635,069		$	1,045,459
	Credit and Other (a)	42,826			(275,975		)	159,780			134,845
	Investments of Consolidated CLOs (a)	(17,271		)	92,903			(225		)	16,450
	Real Assets (a)	—			(100,112		)	2,655			(10,353		)
	Foreign Exchange Forward Contracts and Options (b)	133,931			323,310			(8,439		)	9,283
	Securities Sold Short (b)	(1,637		)	(21,802		)	(16,013		)	23,989
	Other Derivatives	(7,679		)	9,439			(18,009		)	5,161
	Foreign Exchange Gains (Losses) on Debt Obligations (c)	11,017			(108,511		)	(2,236		)	(2,882		)
	Foreign Exchange Gains (Losses) and Other (d)	24,724			(76,492		)	(1,955		)	(399		)
	Total Net Gains (Losses) from Investment Activities	$	1,805,787		$	114,038		$	750,627		$	1,221,553
	(a)	See Note 4 “Investments.”
	(b)	See Note 7 “Other Assets and Accounts Payable, Accrued Expenses and Other Liabilities.”
	(c)	See Note 9 "Debt Obligations."
	(d)	Foreign Exchange Gains (Losses) includes foreign exchange gains (losses) on cash and cash equivalents and cash and cash equivalents held at consolidated entities.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2015
Investments [Abstract]
INVESTMENTS	INVESTMENTS
	Investments consist of the following:
		Fair Value				Cost
		March 31, 2015		December 31, 2014		March 31, 2015		December 31, 2014
	Private Equity	$	37,912,609	$	38,222,255	$	28,736,938	$	29,317,314
	Credit	6,985,924		6,702,740		7,391,974		6,906,583
	Investments of Consolidated CLOs	8,049,472		8,559,967		8,211,888		8,815,286
	Real Assets	3,874,099		3,130,404		6,197,448		5,354,191
	Other	4,149,349		3,552,260		3,851,655		3,182,917
	Total Investments	$	60,971,453	$	60,167,626	$	54,389,903	$	53,576,291
	As of March 31, 2015, investments which represented greater than 5% of total investments consisted of Walgreens Boots Alliance Inc. of $4.4 billion and First Data Corporation of $4.2 billion. As of December 31, 2014, investments which represented greater than 5% of total investments consisted of Walgreens Boots Alliance Inc. of $5.5 billion and First Data Corporation of $3.8 billion. In addition, as of March 31, 2015 and December 31, 2014, investments totaling $10.1 billion and $11.4 billion, respectively, were pledged as direct collateral against various financing arrangements. See Note 9 “Debt Obligations.”
	The following table represents private equity investments by industry as of March 31, 2015 and December 31, 2014:
		Fair Value
		March 31, 2015		December 31, 2014
	Health Care	$	9,652,931	$	10,269,605
	Financial Services	6,111,757		5,691,815
	Technology	4,520,091		4,262,800
	Retail	4,359,055		4,141,276
	Manufacturing	4,217,880		4,227,859
	Other	9,050,895		9,628,900
		$	37,912,609	$	38,222,255
	In the table above, other investments represent private equity investments in the following industries: Consumer Products, Education, Forestry, Media, Services, Telecommunications, Transportation, Hotel/Leisure, Packaging, Mining, Agriculture and Recycling. None of these industries represents more than 10% of total private equity investments as of March 31, 2015.
	The majority of the securities underlying private equity investments represent equity securities. As of March 31, 2015 and December 31, 2014, the fair value of investments that were other than equity securities amounted to $602.2 million and $577.0 million, respectively.

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS
	The following tables summarize the valuation of KKR’s assets and liabilities reported at fair value by the fair value hierarchy levels described in Note 2 “Summary of Significant Accounting Policies” as of March 31, 2015 and December 31, 2014 including those investments, other financial instruments and debt obligations of consolidated CLOs for which the fair value option has been elected. Equity Method Investments for which the fair value option has not been elected have been excluded from the tables below.
	Assets, at fair value:
		March 31, 2015
		Quoted Prices in				Significant Other				Significant				Total
		Active Markets for				Observable Inputs				Unobservable Inputs
		Identical Assets				(Level II)				(Level III)
		(Level I)
	Private Equity	$	6,773,425			$	5,006,969			$	26,132,215			$	37,912,609
	Credit	—				2,759,699				4,226,225				6,985,924
	Investments of Consolidated CLOs	—				7,895,816				153,656				8,049,472
	Real Assets	—				—				3,874,099				3,874,099
	Other	806,462				432,407				2,381,303				3,620,172
	Total	7,579,887				16,094,891				36,767,498				60,442,276
	Foreign Exchange Contracts and Options	—				871,040				—				871,040
	Other Derivatives	1,553				14,696				—				16,249
	Total Assets	$	7,581,440			$	16,980,627			$	36,767,498			$	61,329,565
		December 31, 2014
		Quoted Prices in				Significant Other				Significant				Total
		Active Markets for				Observable Inputs				Unobservable Inputs
		Identical Assets				(Level II)				(Level III)
		(Level I)
	Private Equity	$	5,940,470			$	6,005,764			$	26,276,021			$	38,222,255
	Credit	—				2,510,038				4,192,702				6,702,740
	Investments of Consolidated CLOs	—				8,467,472				92,495				8,559,967
	Real Assets	—				—				3,130,404				3,130,404
	Other	573,983				276,051				2,133,001				2,983,035
	Total	6,514,453				17,259,325				35,824,623				59,598,401
	Foreign Exchange Contracts and Options	—				517,088				—				517,088
	Other Derivatives	2,246				9,651				—				11,897
	Total Assets	$	6,516,699			$	17,786,064			$	35,824,623			$	60,127,386
	Liabilities, at fair value:
		March 31, 2015
		Quoted Prices in				Significant Other				Significant				Total
		Active Markets for				Observable Inputs				Unobservable
		Identical Assets				(Level II)				Inputs
		(Level I)								(Level III)
	Securities Sold Short	$	583,069			$	576			$	—			$	583,645
	Foreign Exchange Contracts and Options	—				102,598				—				102,598
	Unfunded Revolver Commitments	—				4,788				—				4,788
	Other Derivatives	—				71,266				—				71,266
	Total Liabilities	$	583,069			$	179,228			$	—			$	762,297
		December 31, 2014
		Quoted Prices in				Significant Other				Significant				Total
		Active Markets for				Observable Inputs				Unobservable
		Identical Assets				(Level II)				Inputs
		(Level I)								(Level III)
	Securities Sold Short	$	630,794			$	2,338			$	—			$	633,132
	Foreign Exchange Contracts and Options	—				71,956				—				71,956
	Unfunded Revolver Commitments	—				3,858				—				3,858
	Other Derivatives	—				75,150				—				75,150
	Debt Obligations of Consolidated CLOs	—				—				7,615,340				7,615,340
	Total Liabilities	$	630,794			$	153,302			$	7,615,340			$	8,399,436
	The following tables summarize changes in assets and liabilities reported at fair value for which Level III inputs have been used to determine fair value for the three months ended March 31, 2015 and 2014, respectively:
		Three Months Ended March 31, 2015
		Private				Credit				Investments of				Real Assets			Other			Total Level III Investments			Debt Obligations of
		Equity								Consolidated													Consolidated CLOs
										CLOs
	Balance, Beg. of Period	$	26,276,021			$	4,192,702			$	92,495			$	3,130,404		$	2,133,001		35,824,623			$	7,615,340
	Transfers In (1)	—				16,706				108,340				—			1,187			126,233			—
	Transfers Out (2)	(1,212,235		)		(12,860		)		—				—			(1,710		)	(1,226,805	)		—
	Acquisitions	—				—				—				—			—			—			—
	Purchases	688,776				433,196				1,308				853,770			414,362			2,391,412			—
	Sales	(327,054		)		(196,667		)		(3,138		)		(9,963		)	(99,163		)	(635,985	)		—
Settlements	—				57,567				(883		)		—			1,969			58,653			—
Net Realized Gains (Losses)	145,084				(6,536		)		—				—			1,229			139,777			—
Net Unrealized Gains (Losses)	561,623				(257,883		)		(44,466		)		(100,112		)	(69,572		)	89,590			—
Change in Accounting Principle (3)	—				—				—				—			—			—			(7,615,340		)
Change in Other Comprehensive Income	—				—				—				—			—			—			—
Balance, End of Period	$	26,132,215			$	4,226,225			$	153,656			$	3,874,099		$	2,381,303		36,767,498			$	—
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities	$	712,482			$	(289,389	)		$	(44,466	)		$	(100,112	)	$	(71,431	)	207,084			$	—
	Three Months Ended March 31, 2014
	Level III Assets																						Level III Liabilities
	Private				Credit				Investments of				Real Assets			Other			Total Level III Investments				Debt Obligations of
	Equity								Consolidated														Consolidated CLOs
									CLOs
Balance, Beg. of Period	$	29,082,505			$	1,944,464			$	—			$	3,300,674		$	348,486		$	34,676,129			$	—
Transfers In (1)	—				—				—				—			—			—				—
Transfers Out (2)	(1,258,584		)		—				—				—			—			(1,258,584		)		—
Acquisitions	—				—				—				—			—			—				1,150,551
Purchases	2,122,439				453,205				—				496,219			406,465			3,478,328				—
Sales	(24,131		)		(134,166		)		—				(4,669		)	(19,207		)	(182,173		)		—
Settlements	—				15,720				—				—			—			15,720				—
Net Realized Gains (Losses)	(695,318		)		28,734				—				2,655			176			(663,753		)		—
Net Unrealized Gains (Losses)	1,649,418				9,409				—				(13,951		)	42,718			1,687,594				2,239
Change in Other Comprehensive Income	—				—				—				—			—			—				—
Balance, End of Period	$	30,876,329			$	2,317,366			$	—			$	3,780,928		$	778,638		$	37,753,261			$	1,152,790
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities	$	954,100			$	38,032			$	—			$	(13,951	)	$	43,665		$	1,021,846			$	2,239
-1	The Transfers In noted in the tables above for credit, investments of consolidated CLOs and other investments are principally attributable to certain investments that experienced an insignificant level of market activity during the period and thus were valued in the absence of observable inputs.
-2	The Transfers Out noted in the tables above for private equity investments are attributable to portfolio companies that are now valued using their publicly traded market price. The Transfers Out noted above for credit and other investments are principally attributable to certain investments that experienced a higher level of market activity during the period and thus were valued using observable inputs.
-3	Upon adoption of ASU 2014-13, the debt obligations of consolidated CLOs are no longer Level III financial liabilities under the GAAP fair value hierarchy. As of March 31, 2015, the debt obligations of consolidated CLOs are measured on the basis of the fair value of the financial assets of the CLO and are classified as Level II financial liabilities. See Note 2 " Summary of Significant Accounting Policies".
Total realized and unrealized gains and losses recorded for Level III investments are reported in Net Gains (Losses) from Investment Activities in the accompanying condensed consolidated statements of operations. There were no transfers between Level I and Level II during the three months ended March 31, 2015. There was one transfer for $318.9 million between Level I and Level II for private equity investments during the three months ended March 31, 2014 attributable to a portfolio company that is now valued using its publicly traded market price.
The following table presents additional information about valuation methodologies and significant unobservable inputs used for investments that are measured at fair value and categorized within Level III as of March 31, 2015:
	Fair Value					Valuation		Unobservable Input(s) (1)		Weighted		Range		Impact to
	March 31,					Methodologies				Average (2)				Valuation
	2015													from an
														Increase in
														Input (3)
Private Equity Investments	$	26,132,215
Financial Services	$	5,683,574				Inputs to market comparable, discounted cash flow and transaction cost		Illiquidity Discount		10.20%		10% - 15%		Decrease
								Weight Ascribed to Market Comparables		43.00%		38% - 100%		-4
								Weight Ascribed to Discounted Cash Flow		38.30%		0% - 50%		-5
								Weight Ascribed to Transaction Price		18.70%		0% - 25%		-6
						Market comparables		Enterprise Value/LTM EBITDA Multiple		13.0x		11.4x - 13.4x		Increase
								Enterprise Value/Forward EBITDA Multiple		11.4x		10.4x - 11.7x		Increase
						Discounted cash flow		Weighted Average Cost of Capital		11.10%		9.5% - 11.5%		Decrease
								Enterprise Value/LTM EBITDA Exit Multiple		10.4x		10.0x - 10.5x		Increase
Technology	$	4,276,447				Inputs to market comparable, discounted cash flow and transaction cost		Illiquidity Discount		7.30%		0% - 20%		Decrease
								Weight Ascribed to Market Comparables		32.90%		0% - 100%		-4
								Weight Ascribed to Discounted Cash Flow		32.80%		0% - 50%		-5
								Weight Ascribed to Transaction Price		34.30%		0% - 100%		-6
						Market comparables		Enterprise Value/LTM EBITDA Multiple		12.1x		5.9x - 15.9x		Increase
								Enterprise Value/Forward EBITDA Multiple		10.9x		5.3x - 12.9x		Increase
						Discounted cash flow		Weighted Average Cost of Capital		12.10%		8.1% - 20.7%		Decrease
								Enterprise Value/LTM EBITDA Exit Multiple		9.0x		5.5x - 10.0x		Increase
Healthcare	$	3,452,306				Inputs to market comparable, discounted cash flow and transaction cost		Illiquidity Discount		6.10%		2.5% - 15%		Decrease
								Weight Ascribed to Market Comparables		26.00%		0% - 50%		-4
								Weight Ascribed to Discounted Cash Flow		35.70%		12.5% - 100%		-5
								Weight Ascribed to Transaction Price		38.30%		0% - 75%		-6
						Market comparables		Enterprise Value/LTM EBITDA Multiple		11.2x		9.6x - 13.2x		Increase
								Enterprise Value/Forward EBITDA Multiple		10.5x		8.8x - 11.9x		Increase
						Discounted cash flow		Weighted Average Cost of Capital		11.70%		9.0% - 13.2%		Decrease
								Enterprise Value/LTM EBITDA Exit Multiple		10.3x		7.5x - 11.5x		Increase
Retail	$	3,428,590				Inputs to market comparable, discounted cash flow and transaction		Illiquidity Discount		7.70%		5% - 20%		Decrease
								Weight Ascribed to Market Comparables		44.50%		0% - 50%		-4
								Weight Ascribed to Discounted Cash Flow		44.60%		37.5% - 100%		-5
								Weight Ascribed to Transaction Price		10.90%		0% - 25%		-6
	Fair Value					Valuation		Unobservable Input(s) (1)		Weighted		Range		Impact to
	March 31,					Methodologies				Average (2)				Valuation
	2015													from an
														Increase in
														Input (3)
Retail (cont.)						Market comparables		Enterprise Value/LTM EBITDA Multiple		11.0x		7.0x - 14.3x	-7	Increase
								Enterprise Value/Forward EBITDA Multiple		9.6x		6.7x - 11.0x	-7	Increase
						Discounted cash flow		Weighted Average Cost of Capital		10.60%		9.0% - 22.2%		Decrease
								Enterprise Value/LTM EBITDA Exit Multiple		8.1x		6.0x - 10.8x		Increase
Manufacturing	$	3,392,657				Inputs to both market comparable and discounted cash flow		Illiquidity Discount		8.50%		5% - 21%		Decrease
								Weight Ascribed to Market Comparables		46.10%		33.3% - 50%		-4
								Weight Ascribed to Discounted Cash Flow		53.90%		50% - 66.7%		-5
						Market comparables		Enterprise Value/LTM EBITDA Multiple		11.6x		6.8x - 19.6x		Increase
								Enterprise Value/Forward EBITDA Multiple		10.6x		7.5x - 14.6x		Increase
								Control Premium		20.00%		20% - 20%	-8	Increase
						Discounted cash flow		Weighted Average Cost of Capital		14.00%		9.5% - 20.6%		Decrease
								Enterprise Value/LTM EBITDA Exit Multiple		9.6x		7.0x - 10.5x		Increase
Other	$	5,898,641				Inputs to market comparable, discounted cash flow and transaction cost		Illiquidity Discount		11.60%		5% - 20%		Decrease
								Weight Ascribed to Market Comparables		47.30%		0% - 100%		-4
								Weight Ascribed to Discounted Cash Flow		52.70%		0% - 100%		-5
						Market comparables		Enterprise Value/LTM EBITDA Multiple		11.9x		6.9x - 19.7x		Increase
								Enterprise Value/Forward EBITDA Multiple		10.7x		6.5x - 14.8x		Increase
								Control Premium		15.80%		10% - 20%	-8	Increase
						Discounted cash flow		Weighted Average Cost of Capital		12.80%		8% - 25.3%		Decrease
								Enterprise Value/LTM EBITDA Exit Multiple		9.9x		6.5x - 12.0x		Increase
Real Assets	$	3,874,099
Energy	$	1,615,253				Discounted cash flow		Weighted Average Cost of Capital		12.60%		8.9% - 17.6%		Decrease
								Average Price Per BOE (12)		$30.50		$25.46 - $33.97		Increase
Infrastructure	$	944,891				Discounted cash flow		Weighted Average Cost of Capital		7.80%		5.7% - 12.5%		Decrease
								Enterprise Value/LTM EBITDA Exit Multiple		8.7x		7.8x - 10.0x		Increase
Real Estate	$	1,313,955				Inputs to direct income capitalization and discounted cash flow		Weight Ascribed to Direct Income Capitalization		31.10%		0% - 100%		-10
								Weight Ascribed to Discounted Cash Flow		68.90%		0% - 100%		-5
						Direct Income Capitalization		Current Capitalization Rate		7.00%		4.5% - 11.9%		Decrease
						Discounted cash flow		Unlevered Discount Rate		9.70%		7.3% - 20%		Decrease
Credit (11)	$	4,379,881		(9	)	Yield Analysis		Yield		11.30%		5.9% - 22.4%		Decrease
								Net Leverage		5.3x		0.4x - 12.6x		Decrease
								EBITDA Multiple		8.0x		0.7x - 14.9x		Increase
In the table above, Other Investments, within private equity investments, represents the following industries: Consumer Products, Education, Forestry, Media, Services, Telecommunications, Transportation, Hotels/Leisure, Mining, Agriculture and Recycling. None of these industries represents more than 10% of total Level III private equity investments as of March 31, 2015.
-1	In determining certain of these inputs, management evaluates a variety of factors including economic conditions, industry and market developments, market valuations of comparable companies and company specific developments including exit strategies and realization opportunities. Management has determined that market participants would take these inputs into account when valuing the investments. LTM means Last Twelve Months and EBITDA means Earnings Before Interest Taxes Depreciation and Amortization.
-2	Inputs were weighted based on the fair value of the investments included in the range.
-3	Unless otherwise noted, this column represents the directional change in the fair value of the Level III investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.
-4	The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level III investments if the market comparables approach results in a higher valuation than the discounted cash flow approach and transaction price. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach and transaction price.
-5	The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level III investments if the discounted cash flow approach results in a higher valuation than the market comparables approach, transaction price and direct income capitalization approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach and transaction price.
-6	The directional change from an increase in the weight ascribed to the transaction price would increase the fair value of the Level III investments if the transaction price results in a higher valuation than the market comparables and discounted cash flow approach. The opposite would be true if the transaction price results in a lower valuation than the market comparables approach and discounted cash flow approach.
-7	Ranges shown exclude inputs relating to a single portfolio company that was determined to lack comparability with other investments in KKR’s private equity portfolio. This portfolio company had a fair value representing less than 0.5% of the total fair value of Private Equity Investments and had an Enterprise Value/LTM EBITDA Multiple and Enterprise Value/Forward EBITDA Multiple of 31.4x and 21.3x, respectively. The exclusion of this investment does not impact the weighted average.
-8	Level III private equity investments whose valuations include a control premium represent less than 5% of total Level III private equity investments. The valuations for the remaining investments do not include a control premium.
-9	Amounts include $504.0 million of investments that were valued using dealer quotes or third party valuation firms.
-10	The directional change from an increase in the weight ascribed to the direct income capitalization approach would increase the fair value of the Level III investments if the direct income capitalization approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the direct income capitalization approach results in a lower valuation than the discounted cash flow approach.
-11	Includes Level III Credit Investments and Level III Investments of Consolidated CLOs.
-12	The total Energy fair value amount includes multiple investments (in multiple locations throughout North America) that are held in multiple investment funds and produce varying quantities of oil, condensate, natural gas liquids, and natural gas. Commodity price may be measured using a common volumetric equivalent where one barrel of oil equivalent, or BOE, is determined using the ratio of six thousand cubic feet of natural gas to one barrel of oil, condensate or natural gas liquids. The price per BOE is provided to show the aggregate of all price inputs for the various investments over a common volumetric equivalent although the valuations for specific investments may use price inputs specific to the asset for purposes of our valuations. The discounted cash flows include forecasted production of liquids (oil, condensate, and natural gas liquids) and natural gas with a forecasted revenue ratio of approximately 36% liquids and 64% natural gas.
In the table above, certain private equity investments may be valued at cost for a period of time after an acquisition as the best indicator of fair value. In addition, certain valuations of private equity investments may be entirely or partially derived by reference to observable valuation measures for a pending or consummated transaction.
The table above excludes Other Investments in the amount of $2.4 billion comprised primarily of privately-held equity and equity-like securities (e.g. warrants) in companies that are neither private equity, real assets nor credit investments. These investments were valued using Level III valuation methodologies that are generally the same as those shown for private equity investments.
The various unobservable inputs used to determine the Level III valuations may have similar or diverging impacts on valuation. Significant increases and decreases in these inputs in isolation and interrelationships between those inputs could result in significantly higher or lower fair value measurements as noted in the table above.

NET_INCOME_LOSS_ATTRIBUTABLE_T

NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. L.P. PER COMMON UNIT	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. L.P. PER COMMON UNIT	NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. L.P. PER COMMON UNIT
	For the three months ended March 31, 2015 and 2014, basic and diluted Net Income (Loss) attributable to KKR & Co. L.P. per common unit were calculated as follows:
		Three Months Ended
		31-Mar-15			31-Mar-14
	Net Income (Loss) Attributable to KKR & Co. L.P.	$	270,507		$	210,041
	Basic Net Income (Loss) Per Common Unit
	Weighted Average Common Units Outstanding - Basic	434,874,820			293,490,461
	Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Basic	$	0.62		$	0.72
	Diluted Net Income (Loss) Per Common Unit
	Weighted Average Common Units Outstanding - Basic	434,874,820			293,490,461
	Weighted Average Unvested Common Units and Other Exchangeable Securities	37,350,524			31,613,768
	Weighted Average Common Units Outstanding - Diluted	472,225,344			325,104,229
	Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Diluted	$	0.57		$	0.65
	Weighted Average Common Units Outstanding—Diluted primarily includes unvested equity awards that have been granted under the Equity Incentive Plan as well as exchangeable equity securities issued in connection with the acquisition of Avoca. Vesting or exchanges of these equity interests dilute KKR and KKR Holdings pro rata in accordance with their respective ownership interests in the KKR Group Partnerships.
		Three Months Ended
		31-Mar-15		31-Mar-14
	Weighted Average KKR Holdings Units Outstanding	375,836,317		399,474,991
	For the three months ended March 31, 2015 and 2014, KKR Holdings units have been excluded from the calculation of diluted Net Income (Loss) attributable to KKR & Co. L.P. per common unit since the exchange of these units would not dilute KKR’s respective ownership interests in the KKR Group Partnerships.

OTHER_ASSETS_AND_ACCOUNTS_PAYA

OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES	3 Months Ended
	Mar. 31, 2015
OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES	OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
	Other Assets consist of the following:
		31-Mar-15		31-Dec-14
	Foreign Exchange Contracts and Options (a)	$	871,040	$	517,088
	Interest, Dividend and Notes Receivable (b)	617,626		594,288
	Due from Broker (c)	467,933		561,554
	Oil & Gas Assets, net (d)	455,481		460,658
	Unsettled Investment Sales (e)	291,983		176,622
	Deferred Tax Assets, net	266,289		237,982
	Intangible Assets, net (f)	196,688		209,202
	Goodwill (f)	89,000		89,000
	Fixed Assets, net (g)	75,492		76,247
	Receivables	56,244		55,876
	Deferred Financing Costs	50,732		46,058
	Derivative Assets	16,249		11,897
	Deferred Transaction Related Expenses	14,218		14,981
	Prepaid Expenses	13,890		8,812
	Prepaid Taxes	6,334		31,267
	Other	21,725		72,685
	Total	$	3,510,924	$	3,164,217
	(a)	Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign denominated investments. Such instruments are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying condensed consolidated statements of operations. See Note 3 “Net Gains (Losses) from Investment Activities” for the net changes in fair value associated with these instruments.
	(b)	Represents interest and dividend receivables and promissory notes due from third parties. The promissory notes bear interest at rates ranging from 2.0% -3.0% per annum and mature between 2016 and 2018.
	(c)	Represents amounts held at clearing brokers resulting from securities transactions.
	(d)	Includes proved and unproved oil and natural gas properties under the successful efforts method of accounting, which is net of impairment write-downs, accumulated depreciation, depletion and amortization.
	(e)	Represents amounts due from third parties for investments sold for which cash settlement has not occurred.
	(f)     See Note 15 “Goodwill and Intangible Assets.”
	(g)	Net of accumulated depreciation and amortization of $126,823 and $122,908 as of March 31, 2015 and December 31, 2014, respectively. Depreciation and amortization expense of $3,914 and $4,047 for the three months ended March 31, 2015 and 2014, respectively, is included in General, Administrative and Other in the accompanying condensed consolidated statements of operations.
	Accounts Payable, Accrued Expenses and Other Liabilities consist of the following:
		31-Mar-15		31-Dec-14
	Amounts Payable to Carry Pool (a)	$	1,154,424	$	1,100,943
	Unsettled Investment Purchases (b)	679,747		891,649
	Securities Sold Short (c)	583,645		633,132
	Due to Broker (d)	249,990		72,509
	Accounts Payable and Accrued Expenses	103,497		130,023
	Foreign Exchange Contracts and Options (e)	102,598		71,956
	Derivative Liabilities	71,266		75,150
	Accrued Compensation and Benefits	64,946		17,799
	Interest Payable	63,399		61,643
	Contingent Consideration Obligation (f)	42,600		40,600
	Deferred Rent and Income	24,433		26,894
	Taxes Payable	9,067		6,362
	Other Liabilities	120,508		70,692
	Total	$	3,270,120	$	3,199,352
	(a)	Represents the amount of carried interest payable to principals, professionals and other individuals with respect to KKR’s active funds and co-investment vehicles that provide for carried interest.
	(b)	Represents amounts owed to third parties for investment purchases for which cash settlement has not occurred.
	(c)	Represents the obligations of KKR to deliver a specified security at a future point in time. Such securities are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying condensed consolidated statements of operations. See Note 3 “Net Gains (Losses) from Investment Activities” for the net changes in fair value associated with these instruments. The cost bases for these instruments at March 31, 2015 and December 31, 2014 were $556,782 and $628,071, respectively.
	(d)	Represents amounts owed for securities transactions initiated at clearing brokers.
	(e)	Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign denominated investments. Such instruments are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying condensed consolidated statements of operations. See Note 3 “Net Gains (Losses) from Investment Activities” for the net changes in fair value associated with these instruments.
	(f)	Represents the fair value of the contingent consideration related to the acquisition of Prisma.

VARIABLE_INTEREST_ENTITIES

VARIABLE INTEREST ENTITIES	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES
	Consolidated VIEs
	KKR consolidates certain VIEs in which it is determined that KKR is the primary beneficiary, which predominately are CLO vehicles. In developing its conclusion that it is the primary beneficiary of these CLO vehicles, KKR determined that it has more than an insignificant variable interest in these CLO vehicles by virtue of its residual interest in these CLO vehicles and, in certain cases, the presence of an incentive collateral management fee. These two variable interests were determined to expose KKR to a more than insignificant amount of these CLO vehicles’ variability relative to its anticipated economic performance. In addition, in KKR’s role as collateral manager of these CLO vehicles, KKR has the power to direct the activities that most significantly impact the economic performance of the entities. In each case, KKR’s variable interests represent an obligation to absorb losses of or a right to receive benefits from the entity that could potentially be significant to the entity. In consideration of these factors, KKR concluded that it was the primary beneficiary of these CLO vehicles for consolidation accounting purposes. The primary purpose of these CLO vehicles is to provide investment opportunities with the objective of generating current income for these CLO investors in exchange for management and/or incentive based fees. The investment strategies of these CLO vehicles are similar and the fundamental risks of these CLO vehicles have similar characteristics, which include loss of invested capital and loss of management fees and/or incentive based fees. KKR does not provide performance guarantees and has no other financial obligation to provide funding to these consolidated CLO vehicles.
	Unconsolidated VIEs
	KKR holds variable interests in certain VIEs which are not consolidated as it is determined that KKR is not the primary beneficiary. VIEs that are not consolidated include (i) certain investment funds sponsored by KKR where the equity at risk to KKR is not considered substantive and (ii) certain CLO vehicles where KKR does not hold a variable interest that exposes KKR to a more than insignificant amount of the CLO vehicle’s variability.
	Investments in Unconsolidated Investment Funds
	KKR’s investment strategies differ by investment fund; however, the fundamental risks have similar characteristics, including loss of invested capital and loss of management fees and carried interests. KKR’s maximum exposure to loss as a result of its investments in the unconsolidated investment funds is the carrying value of such investments, which was $318.5 million at March 31, 2015. Accordingly disaggregation of KKR’s involvement by type of unconsolidated investment fund would not provide more useful information. For these unconsolidated investment funds in which KKR is the sponsor, KKR may have an obligation as general partner to provide commitments to such investment funds. As of March 31, 2015, KKR's commitments to these unconsolidated investment funds was $11.6 million. KKR has not provided any financial support other than its obligated amount as of March 31, 2015.
	Investments in Unconsolidated CLO Vehicles
	KKR provides collateral management services for, and has made nominal investments in, certain CLO vehicles that it does not consolidate. KKR’s investments in the unconsolidated CLO vehicles, if any, are carried at fair value in the condensed consolidated statements of financial condition. KKR earns management fees, including subordinated management fees, for managing the collateral of the CLO vehicles. At March 31, 2015, combined assets under management in the pools of unconsolidated CLO vehicles were $2.1 billion. KKR’s maximum exposure to loss as a result of its investments in the residual interests of unconsolidated CLO vehicles is the carrying value of such investments, which was $1.1 million at March 31, 2015. CLO investors in the CLO vehicles may only use the assets of the CLO to settle the debt of the related CLO, and otherwise have no recourse against KKR for any losses sustained in the CLO structures.
	As of March 31, 2015 and December 31, 2014, the maximum exposure to loss, before allocations to the carry pool, if any, for those VIEs in which KKR is determined not to be the primary beneficiary but in which it has a variable interest is as follows:
		31-Mar-15		31-Dec-14
	Investments	$	319,603	$	375,061
	Due from Affiliates, net	599		3,478
	Maximum Exposure to Loss	$	320,202	$	378,539

DEBT_OBLIGATIONS

DEBT OBLIGATIONS	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
DEBT OBLIGATIONS	DEBT OBLIGATIONS
	KKR borrows and enters into credit agreements and issues debt for its general operating and investment purposes and certain of its investment funds borrow to meet financing needs of their operating and investing activities. In connection with the acquisition of KFN on April 30, 2014, KKR consolidates and reports KFN's debt obligations which are non-recourse to KKR beyond the assets of KFN.
	Fund financing facilities have been established for the benefit of certain KKR investment funds. When a KKR investment fund borrows from the facility in which it participates, the proceeds from the borrowings are strictly limited for their intended use by the borrowing investment fund. KKR’s obligations with respect to these financing arrangements are generally limited to KKR’s pro-rata equity interest in such funds.
	In addition, consolidated CLO vehicles issue debt securities to third party investors which are collateralized by assets held by the CLO vehicle. KKR bears no obligation with respect to financing arrangements at KKR’s consolidated CLO vehicles. Debt securities issued by CLO vehicles are supported solely by the assets held at the CLO vehicles and are not collateralized by assets of any other KKR entity. As described in Note 2 to these condensed consolidated financial statements, as a result of the adoption of ASU 2014-13, KKR measures debt securities of consolidated CLOs on the basis of the fair value of the financial assets of the CLO.
	KKR’s borrowings consisted of the following:
		31-Mar-15								31-Dec-14
		Financing Available		Borrowing Outstanding			Fair Value			Financing Available		Borrowing Outstanding		Fair Value
	Revolving Credit Facilities:
	Corporate Credit Agreement	$	1,000,000	$	—		$	—		$	1,000,000	$	—	$	—
	KCM Credit Agreement	403,000		97,000			97,000		(i)	473,000		27,000		27,000		(i)
	Notes Issued:
	KKR Issued 6.375% Notes Due 2020 (a)	—		498,856			587,000		(j)	—		498,804		583,692		(j)
	KKR Issued 5.500% Notes Due 2043 (b)	—		494,692			541,250		(j)	—		494,644		566,250		(j)
	KKR Issued 5.125% Notes Due 2044 (c)	—		998,553			1,039,000		(j)	—		493,214		539,797		(j)
	KFN Issued 8.375% Notes Due 2041 (d)	—		290,567			289,947		(k)	—		290,861		287,359		(k)
	KFN Issued 7.500% Notes Due 2042 (e)	—		123,585			125,488		(k)	—		123,663		125,856		(k)
	KFN Issued Junior Subordinated Notes (f)	—		247,320			221,775			—		246,907		228,087
	Other Consolidated Debt Obligations:
	KKR Fund Financing Facilities (g)	3,048,109		1,808,781			1,808,781		(l)	2,150,819		1,047,351		1,047,351		(l)
	CLO Vehicles (h)	—		7,158,322			7,158,322			—		7,615,340		7,615,340
		$	4,451,109	$	11,717,676		$	11,868,563		$	3,623,819	$	10,837,784	$	11,020,732
	(a)     $500 million aggregate principal amount of 6.375% senior notes of KKR due 2020.
	(b)     $500 million aggregate principal amount of 5.500% senior notes of KKR due 2043.
	(c)	$1.0 billion aggregate principal amount of 5.125% senior notes of KKR due 2044.
	(d)	KKR consolidates KFN and thus reports KFN’s outstanding $259 million aggregate principal amount of 8.375% senior notes due 2041.
	(e)	KKR consolidates KFN and thus reports KFN’s outstanding $115 million aggregate principal amount of 7.500% senior notes due 2042.
	(f)	KKR consolidates KFN and thus reports KFN’s outstanding $284 million aggregate principal amount of junior subordinated notes. The weighted average interest rate is 5.4% and the weighted average years to maturity is 21.5 years as of March 31, 2015. These debt obligations are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR’s Level III credit investments.
	(g)	Certain of KKR’s investment funds have entered into financing arrangements with major financial institutions, generally to enable such investment funds to make investments prior to or without receiving capital from fund limited partners. The weighted average interest rate is 2.5% and 2.9% as of March 31, 2015 and December 31, 2014, respectively. In addition, the weighted average years to maturity is 2.6 years and 2.9 years as of March 31, 2015 and December 31, 2014, respectively.
	(h)	The debt obligations of consolidated CLO vehicles are carried at fair value. As of March 31, 2015, the debt obligations of consolidated CLOs are measured on the basis of the fair value of the financial assets of the CLO and are classified as Level II financial liabilities. See Note 5 “Fair Value Measurements.”
	(i)        Carrying value approximates fair value given the credit facility's interest rate is variable.
	(j)	The notes are classified as Level II within the fair value hierarchy and fair value is determined by third party broker quotes.
	(k)	The notes are classified as Level I within the fair value hierarchy and fair value is determined by quoted prices in active markets since the debt is publicly listed.
	(l)	Carrying value approximates fair value given the fund financing facilities’ interest rates are variable.
	2044 Senior Notes
	On March 18, 2015, KKR Group Finance Co. III LLC, a subsidiary of KKR Management Holdings Corp., issued an additional $500 million aggregate principal amount of its 5.125% Senior Notes due 2044 (the "Notes"), under the indenture dated as of May 29, 2014, which were priced at 101.062%. The Notes are unsecured and unsubordinated obligations of the issuer and will mature on June 1, 2044, unless earlier redeemed or repurchased. The Notes are fully and unconditionally guaranteed, jointly and severally, by KKR & Co. L.P. and the KKR Group Partnerships. The guarantees are unsecured and unsubordinated obligations of the guarantors. The Notes constitute an additional issuance of the issuer’s 5.125% Senior Notes due 2044, $500 million aggregate principal amount of which were previously issued and are outstanding (the “Existing Notes” and together with the Notes are referred to hereafter as the “2044 Senior Notes”). The Notes form a single series with the Existing Notes. The terms of the Notes are identical to the terms of the Existing Notes, except for the issue date, issue price, the first payment date, June 1, 2015, and the date from which interest begins to accrue.
	Debt Obligations of Consolidated CLOs
	As of March 31, 2015, debt obligations of consolidated CLOs consisted of the following:
		Borrowing		Weighted		Weighted Average
		Outstanding		Average		Remaining
				Interest Rate		Maturity in Years
	Senior Secured Notes	$	6,907,430	1.9	%	8.5
	Subordinated Notes	250,892		(a)		8.2
		$	7,158,322
	(a) The subordinated notes do not have contractual interest rates but instead receive a pro rata amount of the net distributions from the excess cash flows of the respective CLO vehicle. Accordingly, weighted average borrowing rates for the subordinated notes are based on cash distributions during the period ended March 31, 2015, if any.
	Debt obligations of consolidated CLOs are collateralized by assets held by each respective CLO vehicle and assets of one CLO vehicle may not be used to satisfy the liabilities of another. As of March 31, 2015, the fair value of the consolidated CLO assets was $9.1 billion. This collateral consisted of Cash and Cash Equivalents Held at Consolidated Entities, Investments, and Other Assets.

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES
	The consolidated entities of KKR are generally treated as partnerships or disregarded entities for U.S. and non-U.S. tax purposes.  The taxes payable on the income generated by partnerships and disregarded entities are generally paid by the fund investors, unitholders, principals and other third parties who beneficially own such partnerships and disregarded entities and are generally not payable by KKR.  However, certain consolidated entities are treated as corporations for U.S. and non-U.S tax purposes and are therefore subject to U.S. federal, state and/or local income taxes and/or non-U.S. taxes at the entity-level. In addition, certain consolidated entities which are treated as partnerships for U.S. tax purposes are subject to the New York City Unincorporated Business Tax or other local taxes.
	The effective tax rates were 0.82% and 1.07% for the three months ended March 31, 2015 and 2014, respectively. The effective tax rate differs from the statutory rate primarily due to the following: (i) a substantial portion of the reported net income (loss) before taxes is not attributable to KKR but rather is attributable to noncontrolling interests held in KKR’s consolidated entities by third parties or by KKR Holdings, (ii) a significant portion of the amount of the reported net income (loss) before taxes attributable to KKR is from certain entities that are not subject to U.S. federal, state or local income taxes and/or non-U.S. taxes, and (iii) certain compensation charges attributable to KKR are not deductible for tax purposes.
	During the three month period ended March 31, 2015, there were no material changes to KKR’s uncertain tax positions and KKR believes there will be no significant increase or decrease to the uncertain tax positions within 12 months of the reporting date.

EQUITY_BASED_COMPENSATION

EQUITY BASED COMPENSATION	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EQUITY BASED COMPENSATION	EQUITY BASED COMPENSATION
	The following table summarizes the expense associated with equity based compensation for the three months ended March 31, 2015 and 2014, respectively.
		Three months ended March 31,
		2015				2014
	Equity Incentive Plan Units	$	52,265			$	39,353
	KKR Holdings Principal Awards	2,518				10,222
	Other Exchangeable Securities	3,768				3,024
	KKR Holdings Restricted Equity Units	128				110
	Discretionary Compensation	17,871				24,819
	Total	$	76,550			$	77,528
	Equity Incentive Plan
	Under the Equity Incentive Plan, KKR is permitted to grant equity awards representing ownership interests in KKR & Co. L.P. common units. Vested awards under the Equity Incentive Plan dilute KKR & Co. L.P. common unitholders and KKR Holdings pro rata in accordance with their respective percentage interests in the KKR Group Partnerships.
	The total number of common units that may be issued under the Equity Incentive Plan is equivalent to 15% of the number of fully diluted common units outstanding, subject to annual adjustment. Equity awards have been granted under the Equity Incentive Plan and are generally subject to service based vesting, typically over a three to five year period from the date of grant. In certain cases, these awards are subject to transfer restrictions and/or minimum retained ownership requirements. The transfer restriction period, if applicable, lasts for (i) one year with respect to one-half of the interests vesting on any vesting date and (ii) two years with respect to the other one-half of the interests vesting on such vesting date. While providing services to KKR, if applicable, certain of these recipients are also subject to minimum retained ownership rules requiring them to continuously hold common unit equivalents equal to at least 15% of their cumulatively vested interests.
	Expense associated with the vesting of these awards is based on the closing price of the KKR & Co. L.P. common units on the date of grant, discounted for the lack of participation rights in the expected distributions on unvested units, which currently ranges from 8% to 56% multiplied by the number of unvested units on the grant date. The grant date fair value of a KKR & Co. L.P. common unit reflects a discount for lack of distribution participation rights, because equity awards are not entitled to receive distributions while unvested. The discount range was based on management’s estimates of future distributions that unvested equity awards will not be entitled to receive between the grant date and the vesting date. Therefore, units that vest in earlier periods have a lower discount as compared to units that vest in later periods, which have a higher discount. The discount range will generally increase when the level of expected annual distributions increases relative to the grant date fair value of a KKR & Co. L.P. common unit. A decrease in expected annual distributions relative to the grant date fair value of a KKR & Co. L.P. common unit would generally have the opposite effect. Expense is recognized on a straight line basis over the life of the award and assumes a forfeiture rate of up to 8% annually based upon expected turnover by class of recipient.
	As of March 31, 2015, there was approximately $346.1 million of estimated unrecognized expense related to unvested
	awards. That cost is expected to be recognized as follows:
	Year		Unrecognized Expense
			(in millions)
	Remainder of 2015		$	127.1
	2016		128.2
	2017		73.3
	2018		17.5
	Total		$	346.1
	A summary of the status of unvested awards granted under the Equity Incentive Plan from January 1, 2015 through March 31, 2015 is presented below:
		Units			Weighted
					Average Grant
					Date Fair Value
	Balance, January 1, 2015	20,488,737			$	12.33
	Granted	14,902,386			16.98
	Vested	—			—
	Forfeited	(433,126	)		12.96
	Balance, March 31, 2015	34,957,997			$	14.3
	The weighted average remaining vesting period over which unvested awards are expected to vest is 1.4 years.
	A summary of the remaining vesting tranches of awards granted under the Equity Incentive Plan is presented below:
	Vesting Date		Units
	1-Apr-15		5,297,636
	1-Oct-15		5,524,491
	1-Apr-16		7,633,135
	1-Oct-16		4,322,545
	1-Apr-17		5,647,312
	1-Oct-17		1,317,132
	1-Apr-18		4,235,867
	1-Oct-18		968,380
	1-Apr-19		6,947
	1-Oct-19		4,552
			34,957,997
	KKR Holdings—Principal Awards
	Certain KKR employees and non-employee operating consultants and other service providers received grants of KKR Holdings units (“Principal Awards”) which are exchangeable for KKR Group Partnership Units. These units are generally subject to minimum retained ownership requirements and in certain cases, transfer restrictions, and allow for their exchange into common units of KKR & Co. L.P. on a one-for-one basis. As of March 31, 2015, KKR Holdings owned approximately 46.0%, or 372,661,977 of the outstanding KKR Group Partnership Units.
	Except for any Principal Awards that vested on the date of grant or that have vested since their grant dates, Principal Awards are subject to service based vesting, generally over a three to five year period from the date of grant. The transfer restriction period will generally last for a minimum of (i) one year with respect to one-half of the interests vesting on any vesting date and (ii) two years with respect to the other one-half of the interests vesting on such vesting date. While providing services to KKR, these individuals may also be subject to minimum retained ownership rules requiring them to continuously hold 25% of their vested interests. Upon separation from KKR, certain individuals will be subject to the terms of a non-compete agreement that may require the forfeiture of certain vested and unvested units should the terms of the non-compete agreement be violated. Holders of KKR Group Partnership Units held through KKR Holdings are not entitled to participate in distributions made on KKR Group Partnership Units until such units are vested.
	Because KKR Holdings is a partnership, all of the 372,661,977 KKR Holdings units have been legally allocated, but the allocation of 34,783,520 of these units has not been communicated to each respective principal. The units that have not been communicated are subject to performance based vesting conditions, which include profitability and other similar criteria. These criteria are not sufficiently specific to constitute performance conditions for accounting purposes, and the achievement, or lack thereof, will be determined based upon the exercise of judgment by the general partner of KKR Holdings. Each principal will ultimately receive between zero and 100% of the units initially allocated. The allocation of these units has not yet been communicated to the award recipients as this was management’s decision on how to best incentivize its principals. It is anticipated that additional service-based vesting conditions will be imposed at the time the allocation is initially communicated to the respective principals. KKR applied the guidance of Accounting Standards Code (“ASC”) 718 and concluded that these KKR Holdings units do not yet meet the criteria for recognition of compensation cost because neither the grant date nor the service inception date has occurred. In reaching a conclusion that the service inception date has not occurred, KKR considered (a) the fact that the vesting conditions are not sufficiently specific to constitute performance conditions for accounting purposes, (b) the significant judgment that can be exercised by the general partner of KKR Holdings in determining whether the vesting conditions are ultimately achieved, and (c) the absence of communication to the principals of any information related to the number of units they were initially allocated. The allocation of these units will be communicated to the award recipients when the performance-based vesting conditions have been met, and currently there is no plan as to when the communication will occur. The determination as to whether the award recipients have satisfied the performance-based vesting conditions is made by the general partner of KKR Holdings, and is based on multiple factors primarily related to the award recipients’ individual performance.
	The fair value of Principal Awards is based on the closing price of KKR & Co. L.P. common units on the date of grant. KKR determined this to be the best evidence of fair value as a KKR & Co. L.P. common unit is traded in an active market and has an observable market price. Additionally, a KKR Holdings unit is an instrument with terms and conditions similar to those of a KKR & Co. L.P. common unit. Specifically, units in both KKR Holdings and KKR & Co. L.P. represent ownership interests in KKR Group Partnership Units and, subject to any vesting, minimum retained ownership requirements and transfer restrictions referenced above, each KKR Holdings unit is exchangeable into a KKR Group Partnership Unit and then into a KKR & Co. L.P. common unit on a one-for-one basis.
	Principal Awards give rise to equity-based payment charges in the condensed consolidated statements of operations based on the grant-date fair value of the award. For units vesting on the grant date, expense is recognized on the date of grant based on the fair value of a KKR & Co. L.P. common unit on the grant date multiplied by the number of vested units. Equity-based payment expense on unvested units is calculated based on the fair value of a KKR & Co. L.P. common unit at the time of grant, discounted for the lack of participation rights in the expected distributions on unvested units which currently ranges from 8% to 56%, multiplied by the number of unvested units on the grant date.  Expense is recognized using the graded-attribution method, which treats each vesting tranche as a separate award. The grant date fair value of a KKR & Co. L.P. common unit reflects a discount for lack of distribution participation rights because equity awards are not entitled to receive distributions while unvested. The discount range was based on management’s estimates of future distributions that unvested equity awards will not be entitled to receive between the grant date and the vesting date. Therefore, units that vest in the earlier periods have a lower discount as compared to units that vest in later periods, which have a higher discount. The discount range will generally increase when the level of expected annual distributions increases relative to the grant date fair value of a KKR & Co. L.P. common unit. A decrease in expected annual distributions relative to the grant date fair value of a KKR & Co. L.P. common unit would generally have the opposite effect.
	Principal Awards granted to certain non-employee consultants and service providers give rise to general, administrative and other charges in the condensed consolidated statements of operations. For units vesting on the grant date, expense is recognized on the date of grant based on the fair value of a KKR & Co. L.P. common unit on the grant date multiplied by the number of vested units. General, administrative and other expense recognized on unvested units is calculated based on the fair value of a KKR & Co. L.P. common unit on each reporting date and subsequently adjusted for the actual fair value of the award at each vesting date. Accordingly, the measured value of these units will not be finalized until each vesting date.
	The calculation of equity-based payment expense and general administrative and other expense on unvested Principal Awards assumes forfeiture rates of up to 8% annually based upon expected turnover by class of employee, consultant, or service provider.
	As of March 31, 2015, there was approximately $7.4 million of estimated unrecognized equity-based payment and general administrative and other expense related to unvested Principal Awards. That cost is expected to be recognized as follows:
	Year		Unrecognized Expense
			(in millions)
	Remainder of 2015		$	4.9
	2016		2.1
	2017		0.4
	Total		$	7.4
	A summary of the status of unvested Principal Awards from January 1, 2015 through March 31, 2015 is presented below:
		Units			Weighted
					Average Grant
Date Fair Value
Balance, January 1, 2015	4,708,434			$	8.44
Granted	74,247			16.64
Vested	—			—
Forfeited	(94,718	)		7.39
Balance, March 31, 2015	4,687,963			$	8.59
The weighted average remaining vesting period over which unvested units are expected to vest is 0.7 years.
The following table summarizes the remaining vesting tranches of Principal Awards:
Vesting Date		Units
1-Apr-15		1,153,193
1-Oct-15		2,063,345
1-Apr-16		122,697
1-Oct-16		1,127,413
1-Apr-17		70,271
1-Oct-17		111,293
1-Apr-18		39,751
		4,687,963
Other Exchangeable Securities
In connection with the acquisition of Avoca, KKR issued 2,545,602 equity securities of a subsidiary of a KKR Group Partnership and of KKR & Co. L.P. both of which are exchangeable into common units of KKR & Co. L.P. on a one-for-one basis (“Other Exchangeable Securities”). Certain Other Exchangeable Securities are subject to time based vesting (generally over a three-year period from February 19, 2014) and are not exchangeable into common units until vested, and in certain cases are subject to minimum retained ownership requirements and transfer restrictions. Consistent with grants of KKR Holdings awards and grants made under the KKR Equity Incentive Plan, holders of Other Exchangeable Securities are not entitled to receive distributions while unvested.
The fair value of Other Exchangeable Securities is based on the closing price of KKR & Co. L.P. common units on the date of grant. KKR determined this to be the best evidence of fair value as a KKR & Co. L.P. common unit is traded in an active market and has an observable market price. Additionally, Other Exchangeable Securities are instruments with terms and conditions similar to those of a KKR & Co. L.P. common unit. Specifically, these Other Exchangeable Securities are exchangeable into KKR & Co. L.P. common units on a one-for-one basis upon vesting.
Expense associated with the vesting of these Other Exchangeable Securities is based on the closing price of a KKR & Co. L.P. common unit on the date of grant, discounted for the lack of participation rights in the expected distributions on unvested Other Exchangeable Securities, which currently ranges from 8% to 56% multiplied by the number of unvested Other Exchangeable Securities on the issuance date. The discount range was based on management’s estimates of future distributions that unvested Other Exchangeable Securities will not be entitled to receive between the issuance date and the vesting date. Therefore, Other Exchangeable Securities that vest in earlier periods have a lower discount as compared to Other Exchangeable Securities that vest in later periods, which have a higher discount. The discount range will generally increase when the level of expected annual distributions increases relative to the issuance date fair value of a KKR & Co. L.P. common unit. A decrease in expected annual distributions relative to the grant date fair value of a KKR & Co. L.P. common unit would generally have the opposite effect. Expense is recognized on a straight line basis over the life of the security and assumes a forfeiture rate of up to 8% annually based upon expected turnover by class of recipient.
As of March 31, 2015, there was approximately $19.8 million of estimated unrecognized expense related to unvested Other Exchangeable Securities.  That cost is expected to be recognized as follows:
Year		Unrecognized Expense
		(in millions)
Remainder of 2015		$	10.4
2016		9.4
Total		$	19.8
A summary of the status of unvested Other Exchangeable Securities from January 1, 2015 through March 31, 2015 is presented below:
	Units			Weighted
				Average Grant
				Date Fair Value
Balance, January 1, 2015	1,695,972			$18.45
Granted	—			—
Vested	—			—
Forfeited	—			—
Balance, March 31, 2015	1,695,972			$	18.45
The weighted average remaining vesting period over which unvested Other Exchangeable Securities are expected to vest is one year.
The following table summarizes the remaining vesting tranches of Other Exchangeable Securities:
Vesting Date		Units
October 1, 2015		847,983
October 1, 2016		847,989
		1,695,972
KKR Holdings—Restricted Equity Units
Grants of restricted equity units based on KKR Group Partnership Units held by KKR Holdings were made to professionals, support staff, and other personnel (“Holdings REU Awards”). These grants are funded by KKR Holdings and do not dilute KKR’s interests in the KKR Group Partnerships. Substantially all Holdings REU Awards are fully vested as of April 1, 2015 and there is no material unrecognized expense.
Discretionary Compensation
All KKR employees and certain employees of certain consolidated entities are eligible to receive discretionary cash bonuses. While cash bonuses paid to most employees are borne by KKR and certain consolidated entities and result in customary compensation and benefits expense, cash bonuses that are paid to certain principals are currently borne by KKR Holdings. These bonuses are funded with distributions that KKR Holdings receives on KKR Group Partnership Units held by KKR Holdings but are not then passed on to holders of unvested units of KKR Holdings. Because principals are not entitled to receive distributions on units that are unvested, any amounts allocated to principals in excess of a principal’s vested equity interests are reflected as employee compensation and benefits expense. These compensation charges are recorded based on the unvested portion of quarterly earnings distributions received by KKR Holdings at the time of the distribution.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS
	Due from and to Affiliates consists of:
		31-Mar-15		31-Dec-14
	Fees earned from portfolio companies	$	40,576	$	64,989
	Fees earned from unconsolidated investment funds	44,746		47,229
	Due from related entities	24,024		34,838
	Due from Affiliates	$	109,346	$	147,056
		31-Mar-15		31-Dec-14
	Due to KKR Holdings in connection with the tax receivable agreement	$	128,268	$	121,803
	Due to related entities	13,381		9,745
	Due to Affiliates	$	141,649	$	131,548

SEGMENT_REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING
	KKR operates through three reportable business segments. These segments, which are differentiated primarily by their business objectives and investment strategies, consist of the following:
	Private Markets
	Through KKR’s Private Markets segment, KKR manages and sponsors a group of private equity funds and co-investment vehicles that invest capital for long-term appreciation, either through controlling ownership of a company or strategic minority positions. KKR also manages and sponsors a group of funds and co-investment vehicles that invest capital in real assets, such as infrastructure, energy and real estate. These funds, vehicles and accounts are managed by Kohlberg Kravis Roberts & Co. L.P., an SEC registered investment adviser.
	Public Markets
	KKR operates and reports its combined credit and hedge funds businesses through the Public Markets segment. KKR’s credit business advises funds, CLOs, separately managed accounts, and investment companies registered under the Investment Company Act, including a business development company or BDC, undertakings for collective investment in transferable investment funds or UCITS and alternative investment funds or AIFs, which invests capital in (i) leveraged credit strategies, such as leveraged loans, high yield bonds and opportunistic credit and (ii) alternative credit strategies such as mezzanine investments, special situations investments, direct lending investments and long/short credit. KKR’s Public Markets segment also includes its hedge funds business that offers a variety of investment strategies including customized hedge fund portfolios, hedge fund-of-fund solutions and acquiring stakes in or seeding hedge fund managers. KKR’s funds in the credit and hedge funds strategies are managed by KKR Credit Advisors (US) LLC (formerly known as KKR Asset Management LLC) and Prisma Capital Partners LP, both of which are SEC-registered investment advisers, and KKR Credit Advisors (Ireland), regulated by the Central Bank of Ireland and KKR Credit Advisors (UK), regulated by the United Kingdom Financial Conduct Authority, or FCA.
	Capital Markets
	Capital Markets segment is comprised primarily of KKR’s global capital markets business. KKR’s capital markets business supports the firm, portfolio companies and third-party clients by developing and implementing both traditional and non-traditional capital solutions for investments or companies seeking financing. These services include arranging debt and equity financing for transactions, placing and underwriting securities offerings and providing other types of capital markets services. When KKR underwrites an offering of securities or a loan on a firm commitment basis, KKR commits to buy and sell an issue of securities or indebtedness and generate revenue by purchasing the securities or indebtedness at a discount or for a fee. When KKR acts in an agency capacity, KKR generates revenue for arranging financing or placing securities or debt with capital markets investors. KKR Capital Markets LLC is an SEC-registered broker-dealer and a FINRA member, and KKR is also registered or authorized to carry out certain broker-dealer activities in various countries in North America, Europe, Asia-Pacific and the Middle East. KKR’s third party capital markets activities are generally carried out through Merchant Capital Solutions LLC, a joint venture with two other unaffiliated partners, and non-bank financial companies, or NBFCs, in India.
	KKR earns the majority of its fees from subsidiaries located in the United States.
	Key Performance Measure - Economic Net Income (“ENI”)
	ENI is used by management in making operating and resource deployment decisions as well as assessing the overall performance of each of KKR’s reportable business segments. The reportable segments for KKR’s business are presented prior to giving effect to the allocation of income (loss) between KKR & Co. L.P. and KKR Holdings and as such represents the business in total. In addition, KKR’s reportable segments are presented without giving effect to the consolidation of the funds that KKR manages.
	ENI is a measure of profitability for KKR’s reportable segments and is used by management as an alternative measurement of the operating and investment earnings of KKR and its business segments. ENI is comprised of total segment revenues; less total segment expenses and certain economic interests in KKR’s segments held by third parties. ENI differs from net income (loss) on a GAAP basis as a result of: (i) the inclusion of management fees earned from consolidated funds that were eliminated in consolidation; (ii) the exclusion of fees and expenses of certain consolidated entities; (iii) the exclusion of charges relating to the amortization of intangible assets; (iv) the exclusion of non-cash equity-based charges and other non-cash compensation charges borne by KKR Holdings or incurred under the Equity Incentive Plan and other securities that are exchangeable for common units of KKR & Co. L.P.; (v) the exclusion of certain non-recurring items; (vi) the exclusion of investment income (loss) relating to noncontrolling interests; and (vii) the exclusion of income taxes.
	The following tables present the financial data for KKR’s reportable segments:
		As of and for the Three Months Ended March 31, 2015
		Private			Public			Capital			Total
		Markets			Markets			Markets			Reportable
											Segments
	Segment Revenues
	Management, Monitoring and Transaction Fees, Net
	Management Fees	$	109,276		$	64,504		$	—		$	173,780
	Monitoring Fees	97,838			—			—			97,838
	Transaction Fees	46,599			13,430			43,257			103,286
	Fee Credits (1)	(69,906		)	(10,588		)	—			(80,494		)
	Total Management, Monitoring and Transaction Fees, Net	183,807			67,346			43,257			294,410
	Performance Income
	Realized Carried Interest	302,425			—			—			302,425
	Incentive Fees	—			5,665			—			5,665
	Unrealized Carried Interest	126,937			12,347			—			139,284
	Total Performance Income	429,362			18,012			—			447,374
	Investment Income (Loss)
	Net Realized Gains (Losses)	183,264			684			(3,281		)	180,667
	Net Unrealized Gains (Losses)	79,363			(87,877		)	(2,207		)	(10,721		)
	Total Realized and Unrealized	262,627			(87,193		)	(5,488		)	169,946
	Net Interest and Dividends	(7,831		)	51,872			6,634			50,675
	Total Investment Income (Loss)	254,796			(35,321		)	1,146			220,621
	Total Segment Revenues	867,965			50,037			44,403			962,405
	Segment Expenses
	Compensation and Benefits
	Cash Compensation and Benefits	73,967			24,005			9,055			107,027
	Realized Allocation to Carry Pool (2)	120,970			—			—			120,970
	Unrealized Allocation to Carry Pool (2)	50,693			4,938			—			55,631
	Total Compensation and Benefits	245,630			28,943			9,055			283,628
	Occupancy and Related Charges	11,016			3,122			658			14,796
	Other Operating Expenses	42,116			14,954			3,876			60,946
	Total Segment Expenses	298,762			47,019			13,589			359,370
	Income (Loss) attributable to noncontrolling interests (3)	719			175			2,728			3,622
	Economic Net Income (Loss)	$	568,484		$	2,843		$	28,086		$	599,413
	Total Assets	$	8,023,160		$	4,560,080		$	1,341,946		$	13,925,186
	-1	KKR’s agreements with the fund investors of certain of its investment funds require KKR to share with these fund investors an agreed upon percentage of certain fees, including monitoring and transaction fees received from portfolio companies (“Fee Credits”). Fund investors receive Fee Credits only with respect to monitoring and transaction fees that are allocable to the fund’s investment in the portfolio company and not, for example, any fees allocable to capital invested through co-investment vehicles. Fee Credits are calculated after deducting certain fund-related expenses and generally amount to 80% of allocable monitoring and transaction fees after fund-related expenses are recovered, although the actual percentage may vary from fund to fund as well as among different classes of investors within a fund.
	-2	With respect to KKR’s active and future investment funds and co-investment vehicles that provide for carried interest, KKR will allocate to its principals, other professionals and selected other individuals a portion of the carried interest earned in relation to these funds as part of its carry pool.
	-3	Represents economic interests that will (i) allocate to third parties an aggregate of 1% of profits and losses of KKR’s management companies until a future date and (ii) allocate to third party investors certain profits and losses in KKR’s Capital Markets segment.
		As of and for the Three Months Ended March 31, 2014
		Private			Public			Capital			Total
		Markets			Markets			Markets			Reportable
											Segments
	Segment Revenues
	Management, Monitoring and Transaction Fees, Net
	Management Fees	$	123,039		$	72,354		$	—		$	195,393
	Monitoring Fees	36,363			—			—			36,363
	Transaction Fees	93,020			6,022			64,474			163,516
	Fee Credits (1)	(80,338		)	(4,330		)	—			(84,668		)
	Total Management, Monitoring and Transaction Fees, Net	172,084			74,046			64,474			310,604
	Performance Income
	Realized Carried Interest	168,800			24,750			—			193,550
Incentive Fees	—			17,019			—			17,019
Unrealized Carried Interest	145,776			(129		)	—			145,647
Total Performance Income	314,576			41,640			—			356,216
Investment Income (Loss)
Net Realized Gains (Losses)	176,198			5,479			51			181,728
Net Unrealized Gains (Losses)	70,673			14,814			272			85,759
Total Realized and Unrealized	246,871			20,293			323			267,487
Net Interest and Dividends	(2,808		)	9,577			4,395			11,164
Total Investment Income (Loss)	244,063			29,870			4,718			278,651
Total Segment Revenues	730,723			145,556			69,192			945,471
Segment Expenses
Compensation and Benefits
Cash Compensation and Benefits	66,898			26,745			15,272			108,915
Realized Allocation to Carry Pool (2)	67,520			9,900			—			77,420
Unrealized Allocation to Carry Pool (2)	58,743			(53		)	—			58,690
Total Compensation and Benefits	193,161			36,592			15,272			245,025
Occupancy and Related Charges	11,560			2,172			457			14,189
Other Operating Expenses	40,059			8,507			4,235			52,801
Total Segment Expenses	244,780			47,271			19,964			312,015
Income (Loss) attributable to noncontrolling interests (3)	515			522			2,165			3,202
Economic Net Income (Loss)	$	485,428		$	97,763		$	47,063		$	630,254
Total Assets	$	6,425,260		$	1,633,796		$	1,433,212		$	9,492,268
-1	KKR’s agreements with the fund investors of certain of its investment funds require KKR to share with these fund investors an agreed upon percentage of certain fees, including monitoring and transaction fees received from portfolio companies (“Fee Credits”). Fund investors receive Fee Credits only with respect to monitoring and transaction fees that are allocable to the fund’s investment in the portfolio company and not, for example, any fees allocable to capital invested through co-investment vehicles. Fee Credits are calculated after deducting certain fund-related expenses and generally amount to 80% of allocable monitoring and transaction fees after fund-related expenses are recovered, although the actual percentage may vary from fund to fund as well as among different classes of investors within a fund.
-2	With respect to KKR’s active and future investment funds and co-investment vehicles that provide for carried interest, KKR will allocate to its principals, other professionals and selected other individuals a portion of the carried interest earned in relation to these funds as part of its carry pool.
-3	Represents economic interests that will (i) allocate to third parties an aggregate of 1% of profits and losses of KKR’s management companies until a future date and (ii) allocate to third party investors certain profits and losses in KKR’s Capital Markets segment.
The following tables reconcile KKR’s total reportable segments to the most directly comparable financial measures calculated and presented in accordance with GAAP:
Fees
	For the Three Months Ended
	31-Mar-15			31-Mar-14
Total Segment Revenues	$	962,405		$	945,471
Management fees relating to consolidated funds and other entities	(125,575		)	(145,208		)
Fee credits relating to consolidated funds	72,949			80,092
Net realized and unrealized carried interest	(441,709		)	(339,197		)
Total investment income (loss)	(220,621		)	(278,651		)
Revenue earned by oil & gas producing entities	24,944			17,781
Reimbursable expenses	9,778			15,986
Other	9,174			6,652
Fees and Other	$	291,345		$	302,926
Expenses
	For the Three Months Ended
	31-Mar-15			31-Mar-14
Total Segment Expenses	$	359,370		$	312,015
Equity based compensation	76,550			77,528
Reimbursable expenses	19,859			18,912
Operating expenses relating to consolidated funds and other entities	10,970			7,315
Expenses incurred by oil & gas producing entities	21,078			10,984
Intangible amortization, acquisition, litigation and certain non-recurring costs	15,471			23,303
Other	11,735			23,114
Total Expenses	$	515,033		$	473,171
Income (Loss) Before Taxes
	For the Three Months Ended
	31-Mar-15			31-Mar-14
Economic net income	$	599,413		$	630,254
Income taxes	(16,138		)	(21,702		)
Amortization of intangibles and other, net	2,790			(20,169		)
Equity based compensation	(76,550		)	(77,528		)
Net income (loss) attributable to noncontrolling interests held by KKR Holdings	(239,008		)	(300,814		)
Net income (loss) attributable to KKR & Co. L.P.	270,507			210,041
Net income (loss) attributable to noncontrolling interests and appropriated capital	1,670,569			1,783,488
Net income (loss) attributable to redeemable noncontrolling interests	1,933			10,637
Income taxes	16,138			21,702
Income (loss) before taxes	$	1,959,147		$	2,025,868
The items that reconcile KKR’s total reportable segments to the corresponding condensed consolidated amounts calculated and presented in accordance with GAAP for (i) net income (loss) attributable to redeemable noncontrolling interests, (ii) income (loss) attributable to noncontrolling interests and appropriated capital and (iii) total assets are primarily attributable to the impact of the consolidation of KKR’s funds and certain other entities.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2015
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS
	Acquisition of KFN
	On April 30, 2014, KKR, affiliates of KKR and KFN, completed the acquisition by merger (the “Merger”) contemplated by an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which KFN became a subsidiary of KKR Fund Holdings.  KFN is a specialty finance company with expertise in a range of asset classes in which it invests, including bank loans, high yield securities, natural resources, special situations, mezzanine, commercial real estate and private equity with a focus on specialty lending.  The addition of KFN provided KKR with over $2 billion of permanent equity capital to support the continued growth of its business.
	The total consideration paid was approximately $2.4 billion consisting entirely of the issuance of 104.3 million KKR common units as follows (amounts in thousands except unit data):
	Number of KKR common units issued	104,340,028
	KKR common unit price on April 30, 2014	$	22.71
	Estimated fair value of KKR common units issued	$	2,369,559
	The following is a summary of the estimated fair values of the assets acquired and liabilities as of April 30, 2014, the date they were assumed (amounts in thousands):
	Cash and cash equivalents	$	210,413
	Cash and cash equivalents held at consolidated entities	614,929
	Restricted cash and cash equivalents	35,038
	Investments	1,235,813
	Investments of consolidated CLOs	6,742,768
	Other assets	642,721
	Other assets of consolidated CLOs	133,036
	Total assets	9,614,718
	Debt obligations	724,509
	Debt obligations of consolidated CLOs	5,663,666
	Accounts payable, accrued expenses and other liabilities	118,427
	Other liabilities of consolidated CLOs	344,660
	Total liabilities	6,851,262
	Noncontrolling interests	378,983
	Fair value of Net Assets Acquired	2,384,473
	Less: Fair value of consideration transferred	2,369,559
	Gain on acquisition	$	14,914
	As of April 30, 2014, the fair value of the net assets acquired exceeded the fair value of consideration transferred by approximately $14.9 million and relates primarily to the difference between the fair value of the assets and liabilities of CLOs consolidated by KFN. This amount has been recorded in net gains (losses) from investment activities in the condensed consolidated statements of operations.
	On a segment basis, the financial results of KFN are included within each of the Private Markets segment, Public Markets segment and Capital Markets segment, based on the character of each asset of KFN.
	KKR incurred $8.3 million of acquisition related costs through the date of closing, which were expensed as incurred and are reflected within General, Administrative and Other.
	Acquisition of Avoca Capital
	On February 19, 2014, KKR closed its acquisition of 100% of the equity interests of Avoca Capital and its affiliates (“Avoca”). Avoca, now renamed KKR Credit Advisors (Ireland), was a European credit investment manager with approximately $8.2 billion in assets under management at the time of acquisition. The addition of Avoca provided KKR with a greater presence in the European leveraged credit markets.
	The total consideration included $83.3 million in cash and $56.5 million in securities of a subsidiary of a KKR Group Partnership and of KKR & Co. L.P. that are exchangeable into approximately 2.4 million KKR & Co. L.P. common units, at any time, at the election of the holders of the securities. In connection with this transaction, there is no contingent consideration payable in the future.
	The following is a summary of the estimated fair values of the assets acquired and liabilities as of February 19, 2014, the date they were assumed:
	Cash and cash equivalents	$	24,381
	Investments	20,905
	Investments of consolidated CLOs	1,226,174
	Other assets of consolidated CLOs	186,609
	Other assets	7,370
	Intangible assets	65,880
	Total assets	1,531,319
	Liabilities	13,584
	Debt obligations of consolidated CLOs	1,150,551
	Other liabilities of consolidated CLOs	140,308
	Total liabilities	1,304,443
	Fair Value of Net Assets Acquired	226,876
	Less: Fair value of subordinated notes of consolidated CLOs held by KKR prior to acquisition (a)	74,029
	Less: Fair value of consideration transferred	139,798
	Gain on acquisition	$	13,049
	(a)	Represents subordinated notes in one of the consolidated CLOs held by KKR prior to the acquisition of Avoca. Upon acquisition of Avoca, KKR’s investment in the subordinated notes was offset against the corresponding debt obligations of the consolidated CLO in purchase accounting.
	As of February 19, 2014, the fair value of the net assets acquired exceeded the fair value of consideration transferred by approximately $13.0 million and relates primarily to the difference between the fair value of the assets and liabilities of CLOs required to be consolidated in connection with the Avoca transaction.  This amount has been recorded in net gains (losses) from investment activities in the condensed consolidated statements of operations.
	On a segment basis, the financial results of Avoca are included within the Public Markets segment.
	KKR incurred $4.4 million of acquisition related costs through the date of closing, which were expensed as incurred and are reflected within General, Administrative and Other.

GOODWILL_AND_INTANGIBLE_ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS
	Goodwill
	Goodwill from the acquisition of Prisma represents the excess of acquisition costs over the fair value of net tangible and intangible assets acquired and is primarily attributed to synergies expected to arise after the acquisition of Prisma. The carrying value of goodwill was $89.0 million as of March 31, 2015 and December 31, 2014, and is recorded within Other Assets on the condensed consolidated statements of financial condition. Goodwill has been allocated entirely to the Public Markets segment. As of March 31, 2015, the fair value of KKR’s reporting units substantially exceeded their respective carrying values. All of the goodwill is currently expected to be deductible for tax purposes. See Note 7 “Other Assets and Accounts Payable, Accrued Expenses and Other Liabilities.”
	Intangible Assets
	Intangible Assets, Net consists of the following:
		As of
		31-Mar-15			31-Dec-14
	Finite-Lived Intangible Assets	$	284,766		$	284,766
	Accumulated Amortization (includes foreign exchange)	(88,078		)	(75,564		)
	Intangible Assets, Net	$	196,688		$	209,202
	Changes in Intangible Assets, Net consists of the following:
		Three Months Ended March 31, 2015
	Balance, Beginning of Period	$	209,202
	Amortization Expense	(6,708		)
	Foreign Exchange	(5,806		)
	Balance, End of Period	$	196,688

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES
	Debt Covenants
	Borrowings of KKR contain various debt covenants. These covenants do not, in management’s opinion, materially restrict KKR’s operating business or investment strategies. KKR is in compliance with its debt covenants in all material respects as of March 31, 2015, except for an instance of non-compliance at one consolidated investment fund that has since been cured or waived and is not material to KKR’s financial results.
	Investment Commitments
	As of March 31, 2015, KKR had unfunded commitments consisting of (i) $1,192.5 million to its active private equity and other investment vehicles and (ii) $374.6 million in connection with commitments by KKR’s capital markets business, (iii) $128.6 million relating to Merchant Capital Solutions LLC and (iv) other investment commitments of $157.2 million. Whether these amounts are actually funded, in whole or in part depends on the terms of such commitments, including the satisfaction or waiver of any conditions to funding.
	Contingent Repayment Guarantees
	The partnership documents governing KKR’s carry—paying funds, including funds relating to private equity, mezzanine, infrastructure, energy, real estate, direct lending and special situations investments, generally include a “clawback” provision that, if triggered, may give rise to a contingent obligation requiring the general partner to return amounts to the fund for distribution to the fund investors at the end of the life of the fund. Under a clawback obligation, upon the liquidation of a fund, the general partner is required to return, typically on an after-tax basis, previously distributed carry to the extent that, due to the diminished performance of later investments, the aggregate amount of carry distributions received by the general partner during the term of the fund exceed the amount to which the general partner was ultimately entitled, including the effects of any performance thresholds. Excluding carried interest received by the general partners of funds that were not contributed to KKR in the acquisition of the assets and liabilities of KKR & Co. (Guernsey) L.P. (formerly known as KKR Private Equity Investors, L.P.) on October 1, 2009 (the “KPE Transaction”), as of March 31, 2015, no carried interest was subject to this clawback obligation, assuming that all applicable carry paying funds were liquidated at their March 31, 2015 fair values. Had the investments in such funds been liquidated at zero value, the clawback obligation would have been $2,486.8 million. Carried interest is recognized in the statement of operations based on the contractual conditions set forth in the agreements governing the fund as if the fund were terminated and liquidated at the reporting date and the fund’s investments were realized at the then estimated fair values. Amounts earned pursuant to carried interest are earned by the general partner of those funds to the extent that cumulative investment returns are positive and where applicable, preferred return thresholds have been met. If these investment amounts earned decrease or turn negative in subsequent periods, recognized carried interest will be reversed and to the extent that the aggregate amount of carry distributions received by the general partner during the term of the fund exceed the amount to which the general partner was ultimately entitled, a clawback obligation would be recorded. For funds that are consolidated, this clawback obligation, if any, is reflected as an increase in noncontrolling interests in the condensed consolidated statements of financial condition. For funds that are not consolidated, this clawback obligation, if any, is reflected as a reduction of KKR’s investment balance as this is where carried interest is initially recorded.
	Certain private equity funds that were contributed to KKR in the KPE Transaction in 2009 also include a “net loss sharing provision.” Upon the liquidation of an investment vehicle to which a net loss sharing obligation applies, the general partner is required to contribute capital to the vehicle, to fund 20% of the net losses on investments. In these vehicles, such losses would be required to be paid by KKR to the fund investors in those vehicles in the event of a liquidation of the fund regardless of whether any carried interest had previously been distributed, and a greater share of investment losses would be allocable to KKR relative to the capital that KKR contributed to it as general partner. Based on the fair market values as of March 31, 2015, there would have been no net loss sharing obligation. If the vehicles were liquidated at zero value, the net loss sharing obligation would have been approximately $115.8 million as of March 31, 2015.
	Prior to the KPE Transaction in 2009, certain principals who received carried interest distributions with respect to certain private equity funds contributed to KKR had personally guaranteed, on a several basis and subject to a cap, the contingent obligations of the general partners of such private equity funds to repay amounts to fund investors pursuant to the general partners’ clawback obligations. The terms of the KPE Transaction require that principals remain responsible for any clawback obligations relating to carry distributions received prior to the KPE Transaction, up to a maximum of $223.6 million. Through investment realizations, KKR's potential exposure has been reduced to $184.7 million as of March 31, 2015. Using valuations as of March 31, 2015, no amounts are due with respect to the clawback obligation required to be funded by principals. Carry distributions arising subsequent to the KPE Transaction may give rise to clawback obligations that may be allocated generally to KKR and persons who participate in the carry pool. Unlike the clawback obligation, KKR will be responsible for all amounts due under a net loss sharing obligation and will indemnify principals for any personal guarantees that they have provided with respect to such amounts. In addition, guarantees of or similar arrangements relating to clawback or net loss sharing obligations in favor of third party investors in an individual investment partnership by entities KKR owns may limit distributions of carried interest more generally.
	Indemnifications
	In the normal course of business, KKR enters into contracts that contain a variety of representations and warranties that provide general indemnifications. In addition, certain of KKR’s consolidated funds and KFN have provided certain indemnities relating to environmental and other matters and has provided nonrecourse carve-out guarantees for fraud, willful misconduct and other customary wrongful acts, each in connection with the financing of certain real estate investments that KKR has made. KKR’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against KKR that have not yet occurred. However, based on experience, KKR expects the risk of material loss to be low.
	Litigation
	From time to time, KKR is involved in various legal proceedings, lawsuits and claims incidental to the conduct of KKR’s business. KKR’s business is also subject to extensive regulation, which may result in regulatory proceedings against it.
	On May 23, 2011, KKR, certain KKR affiliates and the board of directors of Primedia Inc. (a former KKR portfolio company whose directors at that time included certain KKR personnel) were named as defendants, along with others, in two shareholder class action complaints filed in the Court of Chancery of the State of Delaware challenging the sale of Primedia in a merger transaction that was completed on July 13, 2011. These actions allege, among other things, that Primedia board members, KKR, and certain KKR affiliates, breached their fiduciary duties by entering into the merger agreement at an unfair price and failing to disclose all material information about the merger. Plaintiffs also allege that the merger price was unfair in light of the value of certain shareholder derivative claims, which were dismissed on August 8, 2011, based on a stipulation by the parties that the derivative plaintiffs and any other former Primedia shareholders lost standing to prosecute the derivative claims on behalf of Primedia when the Primedia merger was completed. The dismissed shareholder derivative claims included allegations concerning open market purchases of certain shares of Primedia’s preferred stock by KKR affiliates in 2002 and allegations concerning Primedia’s redemption of certain shares of Primedia’s preferred stock in 2004 and 2005, some of which were owned by KKR affiliates. With respect to the pending shareholder class actions challenging the Primedia merger, on June 7, 2011, the Court of Chancery denied a motion to preliminarily enjoin the merger. On July 18, 2011, the Court of Chancery consolidated the two pending shareholder class actions and appointed lead counsel for plaintiffs. On October 7, 2011, defendants moved to dismiss the operative complaint in the consolidated shareholder class action. The operative complaint seeks, in relevant part, unspecified monetary damages and rescission of the merger. On December 2, 2011, plaintiffs filed a consolidated amended complaint, which similarly alleges that the Primedia board members, KKR, and certain KKR affiliates breached their respective fiduciary duties by entering into the merger agreement at an unfair price in light of the value of the dismissed shareholder derivative claims. That amended complaint seeks an unspecified amount of monetary damages. On January 31, 2012, defendants moved to dismiss the amended complaint. On May 10, 2013, the Court of Chancery denied the motion to dismiss the complaint as it relates to the Primedia board members, KKR and certain KKR affiliates. On July 1, 2013, KKR and other defendants filed a motion for judgment on the pleadings on the grounds that plaintiff’s claims were barred by the statute of limitations. On December 20, 2013, the Court of Chancery granted the motion in part and denied the motion in part.  On March 6, 2015, KKR entered into a definitive agreement to settle all claims without the admission of wrongdoing, which is subject to the approval of the Court of Chancery and would operate to release all claims in the two shareholder class actions filed in Georgia state courts that are discussed below. The amount to be paid pursuant to the settlement is not expected to have a material effect on KKR's financial results.
	Additionally, in May 2011, two shareholder class actions challenging the Primedia merger were filed in Georgia state courts, asserting similar allegations and seeking similar relief as initially sought by the Delaware shareholder class actions above. Both Georgia actions have been stayed in favor of the Delaware action.
	In December 2007, KKR, along with 15 other private equity firms and investment banks, were named as defendants in a purported class action complaint filed in the United States District Court for the District of Massachusetts by shareholders in certain public companies acquired by private equity firms since 2003. In August 2008, KKR, along with 16 other private equity firms and investment banks, were named as defendants in a purported consolidated amended class action complaint. The suit alleges that from mid-2003 defendants have violated antitrust laws by allegedly conspiring to rig bids, restrict the supply of private equity financing, fix the prices for target companies at artificially low levels, and divide up an alleged market for private equity services for leveraged buyouts. The amended complaint seeks injunctive relief on behalf of all persons who sold securities to any of the defendants in leveraged buyout transactions and specifically challenges nine transactions. The first stage of discovery concluded on or about April 15, 2010. On August 18, 2010, the court granted plaintiffs’ motion to proceed to a second stage of discovery in part and denied it in part. Specifically, the court granted a second stage of discovery as to eight additional transactions but denied a second stage of discovery as to any transactions beyond the additional eight specified transactions. On October 7, 2010, the plaintiffs filed under seal a fourth amended complaint that includes new factual allegations concerning the additional eight transactions and the original nine transactions. The fourth amended complaint also includes eight purported sub classes of plaintiffs seeking unspecified monetary damages and/or restitution with respect to eight of the original nine challenged transactions and new separate claims against two of the original nine challenged transactions. On January 13, 2011, the court granted a motion filed by KKR and certain other defendants to dismiss all claims alleged by a putative damages sub class in connection with the acquisition of PanAmSat Corp. and separate claims for relief related to the PanAmSat transaction. The second phase of discovery permitted by the court is completed. On July 11, 2011, plaintiffs filed a motion seeking leave to file a proposed fifth amended complaint that seeks to challenge ten additional transactions in addition to the transactions identified in the previous complaints. Defendants opposed plaintiffs’ motion. On September 7, 2011, the court granted plaintiffs’ motion in part and denied it in part. Specifically, the court granted a third stage of limited discovery as to the ten additional transactions identified in plaintiffs’ proposed fifth amended complaint but denied plaintiffs’ motion seeking leave to file a proposed fifth amended complaint. On June 14, 2012, following the completion of the third phase of discovery, plaintiffs filed a fifth amended complaint which, like their proposed fifth amended complaint, seeks to challenge ten additional transactions in addition to the transactions identified in the previous complaints. On June 22, 2012, defendants filed a motion to dismiss certain claims asserted in the fifth amended complaint. On July 18, 2012, the court granted in part and denied in part defendants’ motion to dismiss, dismissing certain previously released claims against certain defendants. On March 13, 2013, the United States District Court denied defendants’ motion for summary judgment on the count involving KKR. However, the court narrowed plaintiffs’ claim to an alleged overarching agreement to refrain from jumping other defendants’ announced proprietary transactions, thereby limiting the case to a smaller number of transactions subject to plaintiffs’ claim. KKR filed a renewed motion for summary judgment on April 16, 2013, which the court denied on July 18, 2013. Plaintiffs moved for class certification on October 21, 2013. Defendants filed their opposition to the motion on January 24, 2014. On July 28, 2014, KKR entered into a definitive agreement to settle all claims without the admission of wrongdoing, which was preliminarily approved by the court on September 29, 2014, and an order of final approval of the settlement was entered on March 5, 2015.  The time to appeal has expired.
	From December 19, 2013 to January 31, 2014, multiple putative class action lawsuits were filed in the Superior Court of California, County of San Francisco, the United States District Court of the District of Northern California, and the Court of Chancery of the State of Delaware by KFN shareholders against KFN, individual members of KFN’s board of directors, KKR, and certain of KKR’s affiliates in connection with KFN’s entry into a merger agreement pursuant to which it would become a subsidiary of KKR. The merger transaction was completed on April 30, 2014.  The actions filed in California state court were consolidated, and prior to the filing or designation of an operative complaint for the consolidated action, the consolidated action was voluntarily dismissed without prejudice on December 1, 2014. The complaint filed in the California federal court action, which was never served on the defendants, was voluntarily dismissed without prejudice on May 6, 2014. Two of the Delaware actions were voluntarily dismissed without prejudice, and the remaining Delaware actions were consolidated. On February 21, 2014, a consolidated complaint was filed in the consolidated Delaware action which all defendants moved to dismiss on March 7, 2014.  On October 14, 2014, the Delaware Court of Chancery granted defendants’ motions to dismiss with prejudice. On November 13, 2014, plaintiffs filed a notice of appeal in the Supreme Court of the State of Delaware and the appeal is pending.
	The consolidated complaint in the Delaware action alleges that the members of the KFN board of directors breached fiduciary duties owed to KFN shareholders by approving the proposed transaction for inadequate consideration; approving the proposed transaction in order to obtain benefits not equally shared by other KFN shareholders; entering into the merger agreement containing preclusive deal protection devices; and failing to take steps to maximize the value to be paid to the KFN shareholders. The Delaware action also alleges that KKR, and certain of KKR’s affiliates, aided and abetted the alleged breaches of fiduciary duties and that KKR is a controlling shareholder of KFN by means of a management agreement between KFN and KKR Financial Advisors LLC, a subsidiary of KKR, and KKR breached a fiduciary duty it allegedly owed to KFN shareholders by causing KFN to enter into the merger agreement. The relief sought in the Delaware action includes, among other things, declaratory relief concerning the alleged breaches of fiduciary duties, compensatory damages, attorneys’ fees and costs, and other relief.
	KKR currently is and expects to continue to become, from time to time, subject to examinations, inquiries and investigations by various U.S. and non U.S. governmental and regulatory agencies, including but not limited to the U.S. Securities and Exchange Commission, or SEC, Department of Justice, state attorney generals, Financial Industry Regulatory Authority, or FINRA, and the U.K. Financial Conduct Authority. Such examinations, inquiries and investigations may result in the commencement of civil or criminal lawsuits against KKR or its personnel. KKR is engaged in discussions with the SEC regarding a potential resolution of one such matter involving an inquiry by the SEC relating to the allocation of certain categories of expenses between KKR's flagship private equity funds and co-investment and employee vehicles that invested alongside those private equity funds during the period 2006 to 2011. There can be no assurance that these discussions will lead to a resolution of the matter.
	Moreover, in the ordinary course of business, KKR is and can be both the defendant and the plaintiff in numerous lawsuits with respect to acquisitions, bankruptcy, insolvency and other types of proceedings. Such lawsuits may involve claims that adversely affect the value of certain investments owned by KKR’s funds.
	KKR establishes an accrued liability for legal proceedings only when those matters present loss contingencies that are both probable and reasonably estimable. In such cases, there may be an exposure to loss in excess of any amounts accrued. No loss contingency is recorded for matters where such losses are either not probable or reasonably estimable (or both) at the time of determination. Such matters are subject to many uncertainties, including among others (i) the proceedings are in early stages; (ii) damages sought are unspecified, unsupportable, unexplained or uncertain; (iii) discovery has not been started or is incomplete; (iv) there is uncertainty as to the outcome of pending appeals or motions; (v) there are significant factual issues to be resolved; or (vi) there are novel legal issues or unsettled legal theories to be presented or a large number of parties. Consequently, management is unable to estimate a range of potential loss, if any, related to these matters.  In addition, loss contingencies may be, in part or in whole, subject to insurance or other payments such as contributions and/or indemnity, which may reduce any ultimate loss. For these matters described above for which a loss is both probable and reasonably estimable, KKR has estimated the aggregate amount of losses attributable to KKR to be approximately $25.0 million.  This estimate is subject to significant judgment and a variety of assumptions and uncertainties. Actual outcomes may vary significantly from this estimate.
	It is not possible to predict the ultimate outcome of all pending legal proceedings, and some of the matters discussed above seek or may seek potentially large and/or indeterminate amounts. As of such date, based on information known by management, management has not concluded that the final resolutions of the matters above will have a material effect upon the consolidated financial statements. However, given the potentially large and/or indeterminate amounts sought or may be sought in certain of these matters and the inherent unpredictability of investigations and litigations, it is possible that an adverse outcome in certain matters could, from time to time, have a material effect on KKR’s financial results in any particular period.

REGULATORY_CAPITAL_REQUIREMENT

REGULATORY CAPITAL REQUIREMENTS	3 Months Ended
	Mar. 31, 2015
REGULATORY CAPITAL REQUIREMENTS
REGULATORY CAPITAL REQUIREMENTS	REGULATORY CAPITAL REQUIREMENTS
	KKR has a registered broker-dealer subsidiary which is subject to the minimum net capital requirements of the SEC and the FINRA. Additionally, KKR entities based in London and Ireland are subject to the regulatory capital requirements of the U.K. Financial Conduct Authority and the Central Bank of Ireland, respectively. In addition, KKR has an entity based in Hong Kong which is subject to the capital requirements of the Hong Kong Securities and Futures Ordinance, an entity based in Japan subject to the capital requirements of Financial Services Authority of Japan, and two entities based in Mumbai which are subject to capital requirements of the Reserve Bank of India or RBI and the Securities and Exchange Board of India or SEBI. All of these entities have continuously operated in excess of their respective minimum regulatory capital requirements.
	The regulatory capital requirements referred to above may restrict KKR’s ability to withdraw capital from its registered broker-dealer entities. At March 31, 2015, approximately $91.2 million of cash at KKR’s registered broker-dealer entities may be restricted as to the payment of cash dividends and advances to KKR.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS
	Distribution
	A distribution of $0.46 per KKR & Co. L.P. common unit was announced on April 23, 2015, and will be paid on May 18, 2015 to unitholders of record as of the close of business on May 4, 2015. KKR Holdings will receive its pro rata share of the distribution from the KKR Group Partnerships.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation
	The accompanying unaudited condensed consolidated financial statements of KKR & Co. L.P. have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q. The condensed consolidated financial statements (referred to hereafter as the “financial statements”), including these notes, are unaudited and exclude some of the disclosures required in annual financial statements. Management believes it has made all necessary adjustments (consisting of only normal recurring items) such that the condensed consolidated financial statements are presented fairly and that estimates made in preparing the condensed consolidated financial statements are reasonable and prudent. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. The December 31, 2014 condensed consolidated balance sheet data was derived from audited consolidated financial statements included in KKR’s Annual Report on Form 10-K for the year ended December 31, 2014, which include all disclosures required by GAAP. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in KKR & Co. L.P.’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”).
	KKR & Co. L.P. consolidates the financial results of the KKR Group Partnerships and their consolidated subsidiaries, which include the accounts of KKR’s investment management and capital markets companies, the general partners of certain unconsolidated funds and vehicles, general partners of consolidated funds and their respective consolidated funds and certain other entities including certain CLOs. References in the accompanying financial statements to “principals” are to KKR’s senior employees and non-employee operating consultants who hold interests in KKR’s business through KKR Holdings, and references to “Senior Principals” are to KKR’s senior employees who hold interests in the Managing Partner entitling them to vote for the election of the Managing Partner’s directors.
Use of Estimates	Use of Estimates
	The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of fees, expenses and investment income (loss) during the reporting periods. Such estimates include but are not limited to the valuation of investments and financial instruments. Actual results could differ from those estimates, and such differences could be material to the financial statements.
Principles of Consolidation	Principles of Consolidation
	The types of entities KKR assesses for consolidation include (i) subsidiaries, including management companies, broker-dealers and general partners of investment funds that KKR manages, (ii) entities that have all the attributes of an investment company, like investment funds, (iii) CLOs and (iv) other entities, including entities that employ non-employee operating consultants. Each of these entities is assessed for consolidation on a case by case basis depending on the specific facts and circumstances surrounding that entity.
	Pursuant to its consolidation policy, KKR first considers whether an entity is considered a VIE and therefore whether to apply the consolidation guidance under the VIE model.  Entities that do not qualify as VIEs are generally assessed for consolidation as voting interest entities (“VOEs”) under the voting interest model.
	The consolidation rules were revised effective January 1, 2010 which had the effect of changing the criteria for determining whether a reporting entity is the primary beneficiary of a VIE.  However, the adoption of these new consolidation rules was indefinitely deferred (the “Deferral”) for a reporting entity’s interests in certain entities.  In particular, entities that have all the attributes of an investment company such as investment funds generally meet the conditions necessary for the Deferral. Entities that are securitization or asset-backed financing entities such as CLOs would generally not qualify for the Deferral. Accordingly, when making the assessment of whether an entity is a VIE, KKR considers whether the entity being assessed meets the conditions for the Deferral and therefore would be subject to the rules that existed prior to January 1, 2010.  Under both sets of rules, VIEs for which KKR is determined to be the primary beneficiary are consolidated and such VIEs generally include certain CLO vehicles and entities that employ non-employee operating consultants.
	An entity in which KKR holds a variable interest is a VIE if any one of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support, (b) the holders of equity investment at risk (as a group) lack either the direct or indirect ability through voting rights or similar rights to make decisions about a legal entity’s activities that have a significant effect on the success of the legal entity or the obligation to absorb the expected losses or right to receive the expected residual returns, or (c) the voting rights of some investors are disproportionate to their obligation to absorb the expected losses of the legal entity, their rights to receive the expected residual returns of the legal entity, or both and substantially all of the legal entity’s activities either involve or are conducted on behalf of an investor with disproportionately few voting rights.
	With respect to VIEs such as KKR’s investment funds that qualify for the Deferral and therefore apply the previous consolidation rules, KKR is determined to be the primary beneficiary if its involvement, through holding interests directly or indirectly in the VIE or contractually through other variable interests (e.g., carried interest), would be expected to absorb a majority of the VIE’s expected losses, receive a majority of the VIE’s expected residual returns, or both. In cases where two or more KKR related parties hold a variable interest in a VIE, and the aggregate variable interest held by those parties would, if held by a single party, identify that party as the primary beneficiary, then KKR is determined to be the primary beneficiary to the extent it is the party within the related party group that is most closely associated with the VIE.
	Under the voting interest model, KKR consolidates those entities it controls through a majority voting interest or through other means, including those VOEs in which the general partner is presumed to have control. KKR does not consolidate those VOEs in which the presumption of control by the general partner has been overcome through either the granting of substantive rights to the unaffiliated fund investors to either dissolve the fund or remove the general partner (“kick-out rights”) or the granting of substantive participating rights.
	The consolidation assessment, including the determination as to whether an entity qualifies as a VIE or VOE depends on the facts and circumstances surrounding each entity and therefore certain of KKR’s investment funds may qualify as VIEs whereas others may qualify as VOEs.
	With respect to KKR’s consolidated funds that are not CLOs, KKR meets the criteria for the Deferral and therefore applies the consolidation rules that existed prior to January 1, 2010.  For these funds, KKR generally has operational discretion and control, and fund investors have no substantive rights to impact ongoing governance and operating activities of the fund, including the ability to remove the general partner, also known as kick-out rights. As a result, a fund should be consolidated unless KKR has a nominal level of equity at risk. To the extent that KKR commits a nominal amount of equity to a given fund and has no obligation to fund any future losses, the equity at risk to KKR is not considered substantive and the fund is typically considered a VIE. In these cases, the fund investors are generally deemed to be the primary beneficiaries, and KKR does not consolidate the fund. In cases when KKR’s equity at risk is deemed to be substantive, the fund is generally considered to be a VOE and KKR generally consolidates the fund under the VOE model.
	With respect to CLOs, which are generally VIEs, the criteria for the Deferral are not met and therefore KKR applies the consolidation rules issued on January 1, 2010.  In its role as collateral manager, KKR generally has the power to direct the activities of the CLO entities that most significantly impact the economic performance of the entity.  In some, but not all cases, KKR, through both its residual interest in the CLO and the potential to earn an incentive fee, may have variable interests that represent an obligation to absorb losses of, or a right to receive benefits from, the CLO that could potentially be significant to the CLO.  In cases where KKR has both (a) the power to direct the activities of the CLO that most significantly impact the CLOs economic performance and (b) the obligation to absorb losses of the CLO or the right to receive benefits from the CLO that could potentially be significant to the CLO, KKR consolidates the CLO.
	Certain of KKR’s funds and CLOs are consolidated by KKR notwithstanding the fact that KKR has only a minority economic interest in those funds and CLOs. KKR’s financial statements reflect the assets, liabilities, fees, expenses, investment income (loss) and cash flows of the consolidated KKR funds and CLOs on a gross basis, and the majority of the economic interests in those funds and CLOs, which are held by fund investors or other third parties, are attributed to noncontrolling interests in the accompanying financial statements. All of the management fees and certain other amounts earned by KKR from those funds and CLOs are eliminated in consolidation. However, because the eliminated amounts are earned from and funded by noncontrolling interests, KKR’s attributable share of the net income (loss) from those funds and CLOs is increased by the amounts eliminated. Accordingly, the elimination in consolidation of such amounts has no effect on net income (loss) attributable to KKR or KKR partners’ capital.
	KKR’s funds are, for GAAP purposes, investment companies and therefore are not required to consolidate their investments in portfolio companies even if majority-owned and controlled. Rather, the consolidated funds and vehicles reflect their investments at fair value as described below in “Fair Value Measurements”.
	All intercompany transactions and balances have been eliminated.
Variable Interest Entities - Collateralized Loan Obligations	Variable Interest Entities — Collateralized Loan Obligations
	As of January 1, 2015, KKR has adopted the measurement alternative included in ASU 2014-13, “Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity” (“ASU 2014-13”), and has applied the amendments using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of January 1, 2015. Refer to the condensed consolidated statements of changes in equity.
	Pursuant to ASU 2014-13, KKR measures both the financial assets and financial liabilities of the consolidated CLOs in its condensed consolidated financial statements using the more observable of the fair value of the financial assets and the fair value of the financial liabilities. KKR believes the fair value of the financial assets of the consolidated CLOs, which are Level II assets within the GAAP hierarchical levels, are more observable than the fair value of the financial liabilities of the consolidated CLOs, which are Level III liabilities. As a result, the financial assets of the consolidated CLOs are being measured at fair value and the financial liabilities are being measured in consolidation as: (1) the sum of the fair value of the financial assets and the carrying value of any nonfinancial assets that are incidental to the operations of the CLOs less (2) the sum of the fair value of any beneficial interests retained by the reporting entity (other than those that represent compensation for services) and KKR’s carrying value of any beneficial interests that represent compensation for services. The resulting amount is allocated to the individual financial liabilities (other than the beneficial interests retained by KKR) using a reasonable and consistent methodology. Under the measurement alternative, KKR’s condensed consolidated net income (loss) reflects KKR’s own economic interests in the consolidated CLOs including (i) changes in the fair value of the beneficial interests retained by KKR and (ii) beneficial interests that represent compensation for collateral management services.
	Prior to the adoption of ASU 2014-13, KKR elected the fair value option for the assets and liabilities of the consolidated CLO vehicles. KKR accounted for the difference between the fair value of the assets and the fair value of the liabilities of the consolidated CLOs in Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations. This amount was attributed to KKR and third party beneficial interest holders based on each beneficial holder’s residual interest in the consolidated CLOs. The amount attributed to third party beneficial interest holders was reflected in the condensed consolidated statements of operations in Net Income (Loss) Attributable to Noncontrolling Interests and Appropriated Capital and in the condensed consolidated statements of financial condition in Appropriated Capital within Equity. The amount was recorded as Appropriated Capital since the other holders of the CLOs’ beneficial interests, not KKR, received the benefits or absorbed the losses associated with their proportionate share of the CLOs’ assets and liabilities.
Business Combinations	Business Combinations
	Acquisitions are accounted for using the acquisition method of accounting. The purchase price of an acquisition is allocated to the assets acquired and liabilities assumed using the estimated fair values at the acquisition date. Transaction costs are expensed as incurred.
Oil and Natural Gas Properties	Oil and Natural Gas Properties
	KKR proportionately consolidates working and royalty interests in oil and natural gas producing properties, which as a result of the acquisition of KKR Financial Holdings LLC ("KFN") on April 30, 2014 became more significant.
	Oil and natural gas producing activities are accounted for under the successful efforts method of accounting. Under this method, exploration costs, other than the costs of drilling exploratory wells, are charged to expense as incurred. Costs that are associated with the drilling of successful exploration wells are capitalized if proved reserves are found. Lease acquisition costs are capitalized when incurred. Costs associated with the drilling of exploratory wells that do not find proved reserves, geological and geophysical costs and costs of certain nonproducing leasehold costs are charged to expense as incurred.
	Expenditures for repairs and maintenance, including workovers, are charged to expense as incurred.
	The capitalized costs of producing oil and natural gas properties are depleted on a field-by-field basis using the units-of production method based on the ratio of current production to estimated total net proved oil, natural gas and natural gas liquid reserves. Proved developed reserves are used in computing depletion rates for drilling and development costs and total proved reserves are used for depletion rates of leasehold costs.
	Estimated dismantlement and abandonment costs for oil and natural gas properties, net of salvage value, are capitalized at their estimated net present value and amortized on a unit-of-production basis over the remaining life of the related proved developed reserves.
	Whenever events or changes in circumstances indicate that the carrying amounts of oil and natural gas properties may not be recoverable, KKR evaluates the proved oil and natural gas properties and related equipment and facilities for impairment on a field-by-field basis. The determination of recoverability is made based upon estimated undiscounted future net cash flows. The amount of impairment loss, if any, is determined by comparing the fair value, as determined by a discounted cash flow analysis, with the carrying value of the related asset. Unproved oil and natural gas properties are assessed periodically and, at a minimum, annually on a property-by-property basis, and any impairment in value is recognized when incurred and is recorded in General, Administrative, and Other expense in the condensed consolidated statements of operations.
Intangible Assets	Intangible Assets
	Intangible assets consist primarily of contractual rights to earn future fee income, including management and incentive fees, and are recorded in Other Assets in the accompanying condensed consolidated statements of financial condition. Identifiable finite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives and amortization expense is included within General, Administrative and Other in the accompanying condensed consolidated statements of operations. Intangible assets are reviewed for impairment when circumstances indicate impairment may exist. KKR does not have any indefinite-lived intangible assets.
Goodwill	Goodwill
	Goodwill represents the excess of acquisition cost over the fair value of net tangible and intangible assets acquired in connection with an acquisition. Goodwill is assessed for impairment annually or more frequently if circumstances indicate impairment may have occurred. Goodwill is recorded in Other Assets in the accompanying condensed consolidated statements of financial condition.
Redeemable Noncontrolling Interests	Redeemable Noncontrolling Interests
	Redeemable Noncontrolling Interests represent noncontrolling interests of certain investment vehicles and funds that are subject to periodic redemption by fund investors following the expiration of a specified period of time (typically between one and three years), or may be withdrawn subject to a redemption fee during the period when capital may not be otherwise withdrawn. Fund investors interests subject to redemption as described above are presented as Redeemable Noncontrolling Interests in the accompanying condensed consolidated statements of financial condition and presented as Net Income (Loss) Attributable to Redeemable Noncontrolling Interests in the accompanying condensed consolidated statements of operations.
	When redeemable amounts become legally payable to fund investors, they are classified as a liability and included in Accounts Payable, Accrued Expenses and Other Liabilities in the accompanying condensed consolidated statements of financial condition. For all consolidated investment vehicles and funds in which redemption rights have not been granted, noncontrolling interests are presented within Equity in the accompanying condensed consolidated statements of financial condition as noncontrolling interests.
Noncontrolling Interests	Noncontrolling Interests
	Noncontrolling interests represent (i) noncontrolling interests in consolidated entities and (ii) noncontrolling interests held by KKR Holdings.
	Noncontrolling Interests in Consolidated Entities
	Noncontrolling interests in consolidated entities represent the non-redeemable ownership interests in KKR that are held primarily by:
	(i)	third party fund investors in KKR’s funds;
	(ii)	third parties holding an aggregate of 1% of the carried interest received by the general partners of KKR’s funds and 1% of KKR’s other profits (losses) until a future date;
	(iii)	certain former principals and their designees representing a portion of the carried interest received by the general partners of KKR’s private equity funds that was allocated to them with respect to private equity investments made during such former principals’ tenure with KKR prior to October 1, 2009;
	(iv)	certain principals and former principals representing all of the capital invested by or on behalf of the general partners of KKR’s private equity funds prior to October 1, 2009 and any returns thereon;
	(v)	third parties in KKR’s capital markets business;
	(vi)	holders of exchangeable equity securities representing ownership interests in a subsidiary of a KKR Group Partnership issued in connection with the acquisition of Avoca; and
	(vii)	holders of the 7.375% Series A LLC Preferred Shares of KFN whose rights are limited to the assets of KFN.
	Noncontrolling Interests held by KKR Holdings
	Noncontrolling interests held by KKR Holdings include economic interests held by principals in the KKR Group Partnerships. Such principals receive financial benefits from KKR’s business in the form of distributions received from KKR Holdings and through their direct and indirect participation in the value of KKR Group Partnership Units held by KKR Holdings. These financial benefits are not paid by KKR and are borne by KKR Holdings.
	The following table presents the calculation of noncontrolling interests held by KKR Holdings:
		Three months ended March 31,
		2015			2014
	Balance at the beginning of the period	$	4,661,679		$	5,116,761
	Net income (loss) attributable to noncontrolling interests held by KKR Holdings (a)	239,008			300,814
	Other comprehensive income (loss), net of tax (b)	(11,077		)	2,469
	Impact of the exchange of KKR Holdings units to KKR & Co. L.P. common units (c)	(58,140		)	(144,521		)
	Equity based compensation	20,517			35,150
	Capital contributions	250			460
	Capital distributions	(132,274		)	(192,642		)
	Balance at the end of the period	$	4,719,963		$	5,118,491
	(a)	Refer to the table below for calculation of Net income (loss) attributable to noncontrolling interests held by KKR Holdings.
	(b)	Calculated on a pro rata basis based on the weighted average KKR Group Partnership Units held by KKR Holdings during the reporting period.
	(c)	Calculated based on the proportion of KKR Holdings units exchanged for KKR & Co. L.P. common units pursuant to the exchange agreement during the reporting period. The exchange agreement provides for the exchange of KKR Group Partnership Units held by KKR Holdings for KKR & Co. L.P. common units.
	Net income (loss) attributable to KKR & Co. L.P. after allocation to noncontrolling interests held by KKR Holdings, with the exception of certain tax assets and liabilities that are directly allocable to KKR Management Holdings Corp., is attributed based on the percentage of the weighted average KKR Group Partnership Units held by KKR and KKR Holdings, each of which hold equity of the KKR Group Partnerships. However, primarily because of the (i) contribution of certain expenses borne entirely by KKR Holdings, (ii) the periodic exchange of KKR Holdings units for KKR & Co. L.P. common units pursuant to the exchange agreement and (iii) the contribution of certain expenses borne entirely by KKR associated with the KKR & Co. L.P. 2010 Equity Plan (“Equity Incentive Plan”), equity allocations shown in the condensed consolidated statement of changes in equity differ from their respective pro-rata ownership interests in KKR’s net assets.
	The following table presents net income (loss) attributable to noncontrolling interests held by KKR Holdings:
		Three months ended March 31,
		2015			2014
	Net income (loss)	$	1,943,009		$	2,004,166
	Less: Net income (loss) attributable to Redeemable Noncontrolling Interests	1,933			10,637
	Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities and appropriated capital	1,431,561			1,482,674
	Plus: Income taxes attributable to KKR Management Holdings Corp.	6,053			10,947
	Net income (loss) attributable to KKR & Co. L.P. and KKR Holdings	$	515,568		$	521,802
	Net income (loss) attributable to noncontrolling interests held by KKR Holdings	$	239,008		$	300,814
Investments	Investments
	Investments consist primarily of private equity, real assets, credit, investments of consolidated CLOs, and other investments. Investments are carried at their estimated fair values, with unrealized gains or losses resulting from changes in fair value reflected as a component of Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations. Investments denominated in currencies other than the U.S. dollar are valued based on the spot rate of the respective currency at the end of the reporting period with changes related to exchange rate movements reflected as a component of Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations. Security and loan transactions are recorded on a trade date basis. Further disclosure on investments is presented in Note 4, “Investments.”
	The following describes the types of securities held within each investment class.
	Private Equity —Consists primarily of equity investments in operating businesses.
	Real Assets —Consists primarily of investments in (i) energy related assets, principally oil and natural gas producing properties held through consolidated investment vehicles, (ii) infrastructure assets, and (iii) real estate, principally residential and commercial real estate assets and businesses.
	Credit —Consists primarily of investments in below investment grade corporate debt securities (primarily high yield bonds and syndicated bank loans), distressed and opportunistic debt and interests in unconsolidated CLOs.
	Investments of Consolidated CLOs — Consists primarily of investments in below investment grade corporate debt securities (primarily high yield bonds and syndicated bank loans) held directly by the consolidated CLOs.
	Other —Consists primarily of (i) investments in common stock, preferred stock, warrants and options of companies that are not private equity, real assets, credit and investments of consolidated CLOs as well as (ii) equity method investments.
Equity Method	Equity Method
	Equity method investments include (i) certain investments in private equity funds, real assets funds and credit funds, which are not consolidated, and (ii) certain investments in operating companies in which KKR is deemed to exert significant influence. Under the equity method of accounting, KKR’s share of earnings (losses) from equity method investments is reflected as a component of Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations. Because the underlying investments of unconsolidated investment funds are reported at fair value, the carrying value of these equity method investments representing KKR’s interests in unconsolidated funds approximates fair value. The carrying value of equity method investments in certain operating companies, which KKR is determined to exert significant influence, is determined based on the amounts invested by KKR, adjusted for the equity in earnings or losses of the investee allocated based on KKR’s respective ownership percentage, less distributions. In some cases, KKR has elected the fair value option to account for certain of these equity method investments.
Fair Value Measurements	Fair Value Measurements
	Investments and other financial instruments are measured and carried at fair value. The majority of investments and other financial instruments are held by the consolidated funds and vehicles. KKR’s funds are, for GAAP purposes, investment companies and reflect their investments and other financial instruments at fair value. KKR has retained the specialized accounting for the consolidated funds and vehicles in consolidation. Accordingly, the unrealized gains and losses resulting from changes in fair value of the investments held by KKR’s funds are reflected as a component of Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations.
	For investments and other financial instruments that are not held in a consolidated fund or vehicle, KKR has elected the fair value option since these investments and other financial instruments are similar to those in the consolidated funds and vehicles. 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 Net Gains (Losses) from Investment Activities in the condensed consolidated statements of operations. The methodology for measuring the fair value of such investments and other financial instruments is consistent with the methodologies applied to investments and other financial instruments that are held in consolidated funds and vehicles. In addition, KKR has elected the fair value option for the investments of the consolidated CLO vehicles.
	The carrying amounts of Other Assets, Accounts Payable, Accrued Expenses and Other Liabilities recognized on the condensed consolidated statements of financial condition (excluding fixed assets, goodwill, intangible assets, oil & gas assets, net, contingent consideration and certain debt obligations) approximate fair value due to their short term maturities. Further information on KKR’s debt obligations are presented in Note 9, “Debt Obligations.”
	Fair value is the price 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. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation techniques are applied. These valuation techniques involve varying levels of management estimation and judgment, the degree of which is dependent on a variety of factors. See Note 5, “Fair Value Measurements” for further information on KKR’s valuation techniques that involve unobservable inputs. Assets and liabilities recorded at fair value in the statements of financial condition are categorized based upon the level of judgment associated with the inputs used to measure their fair value. Hierarchical levels, as defined under GAAP, are directly related to the amount of subjectivity associated with the inputs to the valuation of these assets and liabilities. The hierarchical levels defined under GAAP are as follows:
	Level I
	Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. The type of investments and other financial instruments included in this category are publicly-listed equities, debt and securities sold short.
	Level II
	Inputs are other than quoted prices that are observable for the asset or liability, either directly or indirectly. Level II inputs include quoted prices for similar instruments in active markets, and inputs other than quoted prices that are observable for the asset or liability. The type of investments and other financial instruments included in this category are credit investments, investments and debt obligations of consolidated CLOs (beginning on January 1, 2015), convertible debt securities indexed to publicly-listed securities, less liquid and restricted equity securities and certain over-the-counter derivatives such as foreign currency option and forward contracts.
	Level III
	Inputs are unobservable for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. The types of assets and liabilities generally included in this category are private portfolio companies, real assets investments, credit investments and debt obligations of consolidated CLOs (prior to January 1, 2015) for which a sufficiently liquid trading market does not exist.
	In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety. KKR’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and consideration of factors specific to the asset.
	A significant decrease in the volume and level of activity for the asset or liability is an indication that transactions or quoted prices may not be representative of fair value because in such market conditions there may be increased instances of transactions that are not orderly. In those circumstances, further analysis of transactions or quoted prices is needed, and a significant adjustment to the transactions or quoted prices may be necessary to estimate fair value.
	The availability of observable inputs can vary depending on the financial asset or liability and is affected by a wide variety of factors, including, for example, the type of instrument, whether the instrument has recently been issued, whether the instrument is traded on an active exchange or in the secondary market, and current market conditions. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised by KKR in determining fair value is greatest for instruments categorized in Level III. The variability and availability of the observable inputs affected by the factors described above may cause transfers between Levels I, II, and III, which KKR recognizes at the beginning of the reporting period.
	Investments and other financial instruments that have readily observable market prices (such as those traded on a securities exchange) are stated at the last quoted sales price as of the reporting date. KKR does not adjust the quoted price for these investments, even in situations where KKR holds a large position and a sale could reasonably affect the quoted price.
	Management’s determination of fair value is based upon the best information available for a given circumstance and may incorporate assumptions that are management’s best estimates after consideration of a variety of internal and external factors.
	Level II Valuation Methodologies
	Financial assets and liabilities categorized as Level II consist primarily of credit investments, investments and debt obligations of consolidated CLOs, convertible debt securities indexed to publicly-listed securities, less liquid and restricted equity securities and certain over-the-counter derivatives such as foreign currency option and forward contracts.
	Credit investments and investments of consolidated CLOs: These investments generally have bid and ask prices that can be observed in the marketplace. Bid prices reflect the highest price that KKR and others are willing to pay for an asset. Ask prices represent the lowest price that KKR and others are willing to accept for an asset. For financial assets and liabilities whose inputs are based on bid-ask prices obtained from third party pricing services, fair value may not always be a predetermined point in the bid-ask range. KKR’s policy is generally to allow for mid-market pricing and adjusting to the point within the bid-ask range that meets KKR’s best estimate of fair value.
	Securities indexed to publicly listed securities: The securities are typically valued using standard convertible security pricing models. The key inputs into these models that require some amount of judgment are the credit spreads utilized and the volatility assumed. To the extent the company being valued has other outstanding debt securities that are publicly-traded, the implied credit spread on the company’s other outstanding debt securities would be utilized in the valuation. To the extent the company being valued does not have other outstanding debt securities that are publicly-traded, the credit spread will be estimated based on the implied credit spreads observed in comparable publicly-traded debt securities. In certain cases, an additional spread will be added to reflect an illiquidity discount due to the fact that the security being valued is not publicly-traded. The volatility assumption is based upon the historically observed volatility of the underlying equity security into which the convertible debt security is convertible and/or the volatility implied by the prices of options on the underlying equity security.
	Restricted Equity Securities: The valuation of certain equity securities is based on an observable price for an identical security adjusted for the effect of a restriction.
	Derivatives: The valuation incorporates observable inputs comprising yield curves, foreign currency rates and credit spreads.
	CLO Debt Obligations: Beginning on January 1, 2015 with the adoption of ASU 2014-13, KKR measures CLO debt obligations on the basis of the fair value of the financial assets of the CLO.
	Level III Valuation Methodologies
	Financial assets and liabilities categorized as Level III consist primarily of the following:
	Private Equity Investments: KKR generally employs two valuation methodologies when determining the fair value of a private equity investment. The first methodology is typically a market comparables analysis that considers key financial inputs and recent public and private transactions and other available measures. The second methodology utilized is typically a discounted cash flow analysis, which incorporates significant assumptions and judgments. Estimates of key inputs used in this methodology include the weighted average cost of capital for the investment and assumed inputs used to calculate terminal values, such as exit EBITDA multiples. Other inputs are also used in both methodologies. However, when a definitive agreement has been executed to sell an investment, KKR generally considers a significant determinant of fair value to be the consideration to be received by KKR pursuant to the executed definitive agreement.
	Upon completion of the valuations conducted using these methodologies, a weighting is ascribed to each method, and an illiquidity discount is typically applied where appropriate. The ultimate fair value recorded for a particular investment will generally be within a range suggested by the two methodologies, except that the value may be higher or lower than such range in the case of investments being sold pursuant to an executed definitive agreement.
	When determining the weighting ascribed to each valuation methodology, KKR considers, among other factors, the availability of direct market comparables, the applicability of a discounted cash flow analysis, the expected hold period and manner of realization for the investment, and in the case of investments being sold pursuant to an executed definitive agreement, the probability of such sale being completed. These factors can result in different weightings among investments in the portfolio and in certain instances may result in up to a 100% weighting to a single methodology. Across the Level III private equity investment portfolio, approximately 55.4% of the fair value is derived from investments that are valued based exactly 50% on market comparables and 50% on a discounted cash flow analysis. Less than 5% of the fair value of the Level III private equity investment portfolio is derived from investments that are valued either based 100% on market comparables or 100% on a discounted cash flow analysis.
	When an illiquidity discount is to be applied, KKR seeks to take a uniform approach across its portfolio and generally applies a minimum 5% discount to all private equity investments. KKR then evaluates such private equity investments to determine if factors exist that could make it more challenging to monetize the investment and, therefore, justify applying a higher illiquidity discount. These factors generally include (i) whether KKR is unable to sell the portfolio company or conduct an initial public offering of the portfolio company due to the consent rights of a third party or similar factors, (ii) whether the portfolio company is undergoing significant restructuring activity or similar factors and (iii) characteristics about the portfolio company regarding its size and/or whether the portfolio company is experiencing, or expected to experience, a significant decline in earnings. These factors generally make it less likely that a portfolio company would be sold or publicly offered in the near term at a price indicated by using just a market multiples and/or discounted cash flow analysis, and these factors tend to reduce the number of opportunities to sell an investment and/or increase the time horizon over which an investment may be monetized. Depending on the applicability of these factors, KKR determines the amount of any incremental illiquidity discount to be applied above the 5% minimum, and during the time KKR holds the investment, the illiquidity discount may be increased or decreased, from time to time, based on changes to these factors. The amount of illiquidity discount applied at any time requires considerable judgment about what a market participant would consider and is based on the facts and circumstances of each individual investment. Accordingly, the illiquidity discount ultimately considered by a market participant upon the realization of any investment may be higher or lower than that estimated by KKR in its valuations.
	Real Assets Investments: Real asset investments in infrastructure, energy and real estate are valued using one or more of the discounted cash flow analysis, market comparables analysis and direct income capitalization, which in each case incorporates significant assumptions and judgments. Infrastructure investments are generally valued using the discounted cash flow analysis. Key inputs used in this methodology include the weighted average cost of capital and assumed inputs used to calculate terminal values, such as exit EBITDA multiples. Energy investments are generally valued using a discounted cash flow analysis. Key inputs used in this methodology that require estimates include the weighted average cost of capital. In addition, the valuations of energy investments generally incorporate both commodity prices as quoted on indices and long-term commodity price forecasts, which may be substantially different from, and are currently higher than, commodity prices on certain indices for equivalent future dates. Certain energy investments do not include an illiquidity discount. Long-term commodity price forecasts are utilized to capture the value of the investments across a range of commodity prices within the energy investment portfolio associated with future development and to reflect a range of price expectations. Real estate investments are generally valued using a combination of direct income capitalization and discounted cash flow analysis. Key inputs used in such methodologies that require estimates include an unlevered discount rate and current capitalization rate, and certain real estate investments do not include a minimum illiquidity discount. The valuations of real assets investments also use other inputs.
	Credit Investments: Credit investments are valued using values obtained from dealers or market makers, and where these values are not available, credit investments are valued by KKR based on ranges of valuations determined by an independent valuation firm. Valuation models are based on discounted cash flow analyses, for which the key inputs are determined based on market comparables, which incorporate similar instruments from similar issuers.
	Other Investments: With respect to other investments including equity method investments for which the fair value election has been made, KKR generally employs the same valuation methodologies as described above for private equity investments when valuing these other investments.
	CLO Debt Obligations: Prior to January 1, 2015 and the adoption of ASU 2014-13, collateralized loan obligation senior secured and subordinated notes were initially valued at the transaction price and were subsequently valued using a third party valuation service. The approach used to estimate the fair values was the discounted cash flow method, which includes consideration of the cash flows of the debt obligation based on projected quarterly interest payments and quarterly amortization. The debt obligations were discounted based on the appropriate yield curve given the debt obligation's respective maturity and credit rating. The most significant inputs to the valuation of these financial instruments were default and loss expectations and discount margins. As described above in Fair Value Measurements - Summary of Significant Accounting Policies - Level II Valuation Methodologies, beginning on January 1, 2015, with the adoption of ASU 2014-13, KKR measures CLO debt obligations on the basis of the fair value of the financial assets of the CLO.
	Key unobservable inputs that have a significant impact on KKR’s Level III investment valuations as described above are included in Note 5 “Fair Value Measurements.” KKR utilizes several unobservable pricing inputs and assumptions in determining the fair value of its Level III investments. These unobservable pricing inputs and assumptions may differ by investment and in the application of KKR’s valuation methodologies. KKR’s reported fair value estimates could vary materially if KKR had chosen to incorporate different unobservable pricing inputs and other assumptions or, for applicable investments, if KKR only used either the discounted cash flow methodology or the market comparables methodology instead of assigning a weighting to both methodologies.
	Level III Valuation Process
	The valuation process involved for Level III measurements is completed on a quarterly basis and is designed to subject the valuation of Level III investments to an appropriate level of consistency, oversight, and review. KKR has a Private Markets valuation committee for private equity and real assets investments and a valuation committee for credit (including investments held by consolidated CLOs) and other investments. The Private Markets valuation committee is assisted by subcommittees in the valuation of real asset investments. Each of the Private Markets valuation committee and the credit valuation committee is assisted by a valuation team, which, except as noted below, is comprised only of employees who are not investment professionals responsible for preparing preliminary valuations or for oversight of the investments being valued. The valuation teams or subcommittees for real asset investments include investment professionals who participate in the preparation of preliminary valuations and oversight for those investments. The valuation committees and teams are responsible for coordinating and consistently implementing KKR’s quarterly valuation policies, guidelines and processes. For Private Markets investments classified as Level III, investment professionals prepare preliminary valuations based on their evaluation of financial and operating data, company specific developments, market valuations of comparable companies and other factors. These preliminary valuations are reviewed with the investment professionals by the applicable valuation team and are also reviewed by an independent valuation firm engaged by KKR to perform certain procedures in order to assess the reasonableness of KKR’s valuations annually for all Level III investments in Private Markets and quarterly for investments other than certain investments, which are less than pre-set value thresholds and which in the aggregate comprise less than 5% of the total value of KKR’s Level III Private Markets investments. For most investments classified as Level III in Public Markets, in general, an independent valuation firm is engaged by KKR to provide third party valuations, or ranges of valuations from which KKR’s investment professionals select a point in the range to determine the preliminary valuation, or an independent valuation firm is engaged by KKR to perform certain procedures in order to assess the reasonableness and provide positive assurance of KKR’s valuations. All preliminary valuations in Private Markets and Public Markets are then reviewed by the applicable valuation committee, and after reflecting any input by their respective valuation committees, the preliminary valuations are presented to the firm’s management committee. When these valuations are approved by this committee after reflecting any input from it, the valuations of Level III investments, as well as the valuations of Level I and Level II investments, are presented to the audit committee of KKR’s board of directors and are then reported on to the board of directors.
Fees and Other	Fees and Other
	Fees and other consist primarily of (i) transaction fees earned in connection with successful investment transactions and from capital markets activities, (ii) management and incentive fees from providing investment management services to unconsolidated funds, CLOs, other vehicles, and separately managed accounts, (iii) monitoring fees from providing services to portfolio companies, (iv) revenue earned by oil and gas-producing entities that are consolidated and (v) consulting fees earned by entities that employ non-employee operating consultants.
	For the three months ended March 31, 2015 and 2014, respectively, fees and other consisted of the following:
		Three Months Ended
		March 31,
		2015			2014
	Monitoring Fees	$	111,525		$	52,349
	Transaction Fees	92,605			155,154
	Management Fees	48,205			50,185
	Oil and Gas Revenue	24,944			17,781
	Consulting Fees	8,427			10,351
	Incentive Fees	5,639			17,106
	Total Fees and Other	$	291,345		$	302,926
	All fees presented in the table above, except for oil and gas revenue, are earned from KKR investment funds, vehicles and portfolio companies. Consulting fees are earned by certain consolidated entities that employ non-employee operating consultants from providing advisory and other services to portfolio companies and other companies and are recognized as the services are rendered. These fees are separately negotiated with each company for which services are provided and are not shared with KKR.
	Monitoring, Transaction, Management, Consulting, and Incentive Fees Recognition
	Monitoring, transaction, management, consulting and incentive fees are recognized when earned based on the contractual terms of the governing agreements and coincides with the period during which the related services are performed. In the case of transaction fees, the fees are recognized upon closing of the transaction. Monitoring fees may provide for a termination payment following an initial public offering or change of control. These termination payments are recognized in the period when the related transaction closes.
	Oil and Gas Revenue Recognition
	Oil and gas revenues are recognized when production is sold to a purchaser at fixed or determinable prices, when delivery has occurred and title has transferred and collectability of the revenue is reasonably assured. The oil and gas producing entities consolidated by KKR follow the sales method of accounting for natural gas revenues. Under this method of accounting, revenues are recognized based on volumes sold, which may differ from the volume to which the entity is entitled based on KKR’s working interest. An imbalance is recognized as a liability only when the estimated remaining reserves will not be sufficient to enable the under-produced owners to recoup their entitled share through future production. Under the sales method, no receivables are recorded when these entities have taken less than their share of production and no payables are recorded when it has taken more than its share of production unless reserves are not sufficient.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements
	Revenue from Contracts with Customers
	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers Topic 606 (“ASU 2014-09”) which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. Revenue recorded under ASU 2014-09 will depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In April 2015, the FASB proposed to defer the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017 and early adoption is not permitted. A full retrospective or modified retrospective approach is required. KKR is currently evaluating the impact the adoption of this guidance may have on its financial statements, including with respect to the timing of the recognition of carried interest.
	Measurement of Financial Assets and Liabilities - Consolidated Collateralized Financing Entities
	In August 2014, the FASB issued ASU 2014‑13, “Measuring the Financial Assets and the Financial Liabilities of a Consolidated Collateralized Financing Entity” (“CFE”), such as CLOs. ASU 2014‑13 provides an entity with an election to measure the financial assets and financial liabilities of a consolidated CFE on the basis of either the fair value of the CFE’s financial assets or financial liabilities, whichever is more observable. The guidance is effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2015. Early adoption is permitted and this guidance was early adopted by KKR on January 1, 2015 using a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the annual period. Refer above to Variable Interest Entities - Collateralized Loan Obligations.
	Going Concern
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements — Going Concern (Subtopic 205-40) Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU 2014-15”).  The guidance in ASU 2014-15 sets forth management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern as well as required disclosures. ASU 2014-15 indicates that, when preparing interim and annual financial statements, management should evaluate whether conditions or events, in the aggregate, raise substantial doubt about the entity’s ability to continue as a going concern for one year from the date the financial statements are issued or are available to be issued. This evaluation should include consideration of conditions and events that are either known or are reasonably knowable at the date the financial statements are issued or are available to be issued, as well as whether it is probable that management’s plans to address the substantial doubt will be implemented and, if so, whether it is probable that the plans will alleviate the substantial doubt. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods and annual periods thereafter. Early adoption is permitted, and a prospective approach is required. The adoption of this guidance is not expected to have a material impact on KKR’s financial statements.
	Derivatives and Hedging
	In November 2014, the FASB issued ASU No. 2014-16, Derivatives and Hedging (Topic 815): Determining Whether the Host Contract in a Hybrid Financial Instrument Issued in the Form of a Share is More Akin to Debt or to Equity ("ASU 2014-16"). The guidance in ASU 2014-16 states that implied substantive terms and features of a hybrid financial instrument issued in the form of a stock should weigh each term and feature on the basis of relevant facts and circumstances. An entity should determine the nature of the host contract by considering the economic characteristics and risks of the entire hybrid financial instrument, including the embedded derivative feature that is being evaluated for separate accounting from the host contract. ASU 2014-16 is effective for reporting periods starting after December 15, 2015 and for interim periods within the fiscal year. Early adoption is permitted, and a retrospective approach is permitted but not required. The adoption of this guidance is not expected to have a material impact on KKR's financial statements.
	Consolidation
	In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis ("ASU 2015-02"). The guidance in ASU 2015-02 eliminates the presumption that a general partner should consolidate a limited partnership and also eliminates the consolidation model specific to limited partnerships. The amendments also clarify how to treat fees paid to an asset manager or other entity that makes the decisions for the investment vehicle and whether such fees should be considered in determining when a variable interest entity should be reported on an asset manager's balance sheet. ASU 2015-02 is effective for reporting periods starting after December 15, 2015 and for interim periods within the fiscal year. Early adoption is permitted, and a full retrospective or modified retrospective approach is required. KKR is evaluating the impact on its financial statements and expects to deconsolidate certain investment funds, vehicles and entities upon adoption of this guidance.
	Interest - Imputation of Interest
	In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). The guidance in ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early adoption is permitted, and a retrospective approach is required. The adoption of this guidance is not expected to have a material impact on KKR’s financial statements.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Schedule of calculation of noncontrolling interests held by KKR Holdings	The following table presents the calculation of noncontrolling interests held by KKR Holdings:
		Three months ended March 31,
		2015			2014
	Balance at the beginning of the period	$	4,661,679		$	5,116,761
	Net income (loss) attributable to noncontrolling interests held by KKR Holdings (a)	239,008			300,814
	Other comprehensive income (loss), net of tax (b)	(11,077		)	2,469
	Impact of the exchange of KKR Holdings units to KKR & Co. L.P. common units (c)	(58,140		)	(144,521		)
	Equity based compensation	20,517			35,150
	Capital contributions	250			460
	Capital distributions	(132,274		)	(192,642		)
	Balance at the end of the period	$	4,719,963		$	5,118,491
	(a)	Refer to the table below for calculation of Net income (loss) attributable to noncontrolling interests held by KKR Holdings.
	(b)	Calculated on a pro rata basis based on the weighted average KKR Group Partnership Units held by KKR Holdings during the reporting period.
	(c)	Calculated based on the proportion of KKR Holdings units exchanged for KKR & Co. L.P. common units pursuant to the exchange agreement during the reporting period. The exchange agreement provides for the exchange of KKR Group Partnership Units held by KKR Holdings for KKR & Co. L.P. common units.
Schedule of net income (loss) attributable to noncontrolling interests held by KKR Holdings	The following table presents net income (loss) attributable to noncontrolling interests held by KKR Holdings:
		Three months ended March 31,
		2015			2014
	Net income (loss)	$	1,943,009		$	2,004,166
	Less: Net income (loss) attributable to Redeemable Noncontrolling Interests	1,933			10,637
	Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities and appropriated capital	1,431,561			1,482,674
	Plus: Income taxes attributable to KKR Management Holdings Corp.	6,053			10,947
	Net income (loss) attributable to KKR & Co. L.P. and KKR Holdings	$	515,568		$	521,802
	Net income (loss) attributable to noncontrolling interests held by KKR Holdings	$	239,008		$	300,814
Schedule of fees	For the three months ended March 31, 2015 and 2014, respectively, fees and other consisted of the following:
		Three Months Ended
		March 31,
		2015			2014
	Monitoring Fees	$	111,525		$	52,349
	Transaction Fees	92,605			155,154
	Management Fees	48,205			50,185
	Oil and Gas Revenue	24,944			17,781
	Consulting Fees	8,427			10,351
	Incentive Fees	5,639			17,106
	Total Fees and Other	$	291,345		$	302,926

NET_GAINS_LOSSES_FROM_INVESTME1

NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES (Tables)	3 Months Ended
	Mar. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of total net gains (losses) from investment activities	The following table summarizes total Net Gains (Losses) from Investment Activities for the three months ended March 31, 2015 and 2014, respectively:
		Three Months Ended						Three Months Ended
		March 31, 2015						March 31, 2014
		Net Realized			Net Unrealized			Net Realized			Net Unrealized
		Gains (Losses)			Gains (Losses)			Gains (Losses)			Gains (Losses)
	Private Equity (a)	$	1,619,876		$	271,278		$	635,069		$	1,045,459
	Credit and Other (a)	42,826			(275,975		)	159,780			134,845
	Investments of Consolidated CLOs (a)	(17,271		)	92,903			(225		)	16,450
	Real Assets (a)	—			(100,112		)	2,655			(10,353		)
	Foreign Exchange Forward Contracts and Options (b)	133,931			323,310			(8,439		)	9,283
	Securities Sold Short (b)	(1,637		)	(21,802		)	(16,013		)	23,989
	Other Derivatives	(7,679		)	9,439			(18,009		)	5,161
	Foreign Exchange Gains (Losses) on Debt Obligations (c)	11,017			(108,511		)	(2,236		)	(2,882		)
	Foreign Exchange Gains (Losses) and Other (d)	24,724			(76,492		)	(1,955		)	(399		)
	Total Net Gains (Losses) from Investment Activities	$	1,805,787		$	114,038		$	750,627		$	1,221,553
	(a)	See Note 4 “Investments.”
	(b)	See Note 7 “Other Assets and Accounts Payable, Accrued Expenses and Other Liabilities.”
	(c)	See Note 9 "Debt Obligations."
	(d)	Foreign Exchange Gains (Losses) includes foreign exchange gains (losses) on cash and cash equivalents and cash and cash equivalents held at consolidated entities.

INVESTMENTS_Tables

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Investments [Abstract]
Summary of investments	Investments consist of the following:
		Fair Value				Cost
		March 31, 2015		December 31, 2014		March 31, 2015		December 31, 2014
	Private Equity	$	37,912,609	$	38,222,255	$	28,736,938	$	29,317,314
	Credit	6,985,924		6,702,740		7,391,974		6,906,583
	Investments of Consolidated CLOs	8,049,472		8,559,967		8,211,888		8,815,286
	Real Assets	3,874,099		3,130,404		6,197,448		5,354,191
	Other	4,149,349		3,552,260		3,851,655		3,182,917
	Total Investments	$	60,971,453	$	60,167,626	$	54,389,903	$	53,576,291
Schedule of information about the private equity investments balance, categorized by industry	The following table represents private equity investments by industry as of March 31, 2015 and December 31, 2014:
		Fair Value
		March 31, 2015		December 31, 2014
	Health Care	$	9,652,931	$	10,269,605
	Financial Services	6,111,757		5,691,815
	Technology	4,520,091		4,262,800
	Retail	4,359,055		4,141,276
	Manufacturing	4,217,880		4,227,859
	Other	9,050,895		9,628,900
		$	37,912,609	$	38,222,255

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities at fair value	Assets, at fair value:
		March 31, 2015
		Quoted Prices in				Significant Other				Significant				Total
		Active Markets for				Observable Inputs				Unobservable Inputs
		Identical Assets				(Level II)				(Level III)
		(Level I)
	Private Equity	$	6,773,425			$	5,006,969			$	26,132,215			$	37,912,609
	Credit	—				2,759,699				4,226,225				6,985,924
	Investments of Consolidated CLOs	—				7,895,816				153,656				8,049,472
	Real Assets	—				—				3,874,099				3,874,099
	Other	806,462				432,407				2,381,303				3,620,172
	Total	7,579,887				16,094,891				36,767,498				60,442,276
	Foreign Exchange Contracts and Options	—				871,040				—				871,040
	Other Derivatives	1,553				14,696				—				16,249
	Total Assets	$	7,581,440			$	16,980,627			$	36,767,498			$	61,329,565
		December 31, 2014
		Quoted Prices in				Significant Other				Significant				Total
		Active Markets for				Observable Inputs				Unobservable Inputs
		Identical Assets				(Level II)				(Level III)
		(Level I)
	Private Equity	$	5,940,470			$	6,005,764			$	26,276,021			$	38,222,255
	Credit	—				2,510,038				4,192,702				6,702,740
	Investments of Consolidated CLOs	—				8,467,472				92,495				8,559,967
	Real Assets	—				—				3,130,404				3,130,404
	Other	573,983				276,051				2,133,001				2,983,035
	Total	6,514,453				17,259,325				35,824,623				59,598,401
	Foreign Exchange Contracts and Options	—				517,088				—				517,088
	Other Derivatives	2,246				9,651				—				11,897
	Total Assets	$	6,516,699			$	17,786,064			$	35,824,623			$	60,127,386
	Liabilities, at fair value:
		March 31, 2015
		Quoted Prices in				Significant Other				Significant				Total
		Active Markets for				Observable Inputs				Unobservable
		Identical Assets				(Level II)				Inputs
		(Level I)								(Level III)
	Securities Sold Short	$	583,069			$	576			$	—			$	583,645
	Foreign Exchange Contracts and Options	—				102,598				—				102,598
	Unfunded Revolver Commitments	—				4,788				—				4,788
	Other Derivatives	—				71,266				—				71,266
	Total Liabilities	$	583,069			$	179,228			$	—			$	762,297
		December 31, 2014
		Quoted Prices in				Significant Other				Significant				Total
		Active Markets for				Observable Inputs				Unobservable
		Identical Assets				(Level II)				Inputs
		(Level I)								(Level III)
	Securities Sold Short	$	630,794			$	2,338			$	—			$	633,132
	Foreign Exchange Contracts and Options	—				71,956				—				71,956
	Unfunded Revolver Commitments	—				3,858				—				3,858
	Other Derivatives	—				75,150				—				75,150
	Debt Obligations of Consolidated CLOs	—				—				7,615,340				7,615,340
	Total Liabilities	$	630,794			$	153,302			$	7,615,340			$	8,399,436
Summary of changes in assets and liabilities reported at fair value for which Level III inputs have been used to determine fair value	The following tables summarize changes in assets and liabilities reported at fair value for which Level III inputs have been used to determine fair value for the three months ended March 31, 2015 and 2014, respectively:
		Three Months Ended March 31, 2015
		Private				Credit				Investments of				Real Assets			Other			Total Level III Investments			Debt Obligations of
		Equity								Consolidated													Consolidated CLOs
										CLOs
	Balance, Beg. of Period	$	26,276,021			$	4,192,702			$	92,495			$	3,130,404		$	2,133,001		35,824,623			$	7,615,340
	Transfers In (1)	—				16,706				108,340				—			1,187			126,233			—
	Transfers Out (2)	(1,212,235		)		(12,860		)		—				—			(1,710		)	(1,226,805	)		—
	Acquisitions	—				—				—				—			—			—			—
	Purchases	688,776				433,196				1,308				853,770			414,362			2,391,412			—
	Sales	(327,054		)		(196,667		)		(3,138		)		(9,963		)	(99,163		)	(635,985	)		—
	Settlements	—				57,567				(883		)		—			1,969			58,653			—
	Net Realized Gains (Losses)	145,084				(6,536		)		—				—			1,229			139,777			—
	Net Unrealized Gains (Losses)	561,623				(257,883		)		(44,466		)		(100,112		)	(69,572		)	89,590			—
	Change in Accounting Principle (3)	—				—				—				—			—			—			(7,615,340		)
	Change in Other Comprehensive Income	—				—				—				—			—			—			—
	Balance, End of Period	$	26,132,215			$	4,226,225			$	153,656			$	3,874,099		$	2,381,303		36,767,498			$	—
	Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities	$	712,482			$	(289,389	)		$	(44,466	)		$	(100,112	)	$	(71,431	)	207,084			$	—
		Three Months Ended March 31, 2014
		Level III Assets																						Level III Liabilities
		Private				Credit				Investments of				Real Assets			Other			Total Level III Investments				Debt Obligations of
		Equity								Consolidated														Consolidated CLOs
										CLOs
	Balance, Beg. of Period	$	29,082,505			$	1,944,464			$	—			$	3,300,674		$	348,486		$	34,676,129			$	—
	Transfers In (1)	—				—				—				—			—			—				—
	Transfers Out (2)	(1,258,584		)		—				—				—			—			(1,258,584		)		—
	Acquisitions	—				—				—				—			—			—				1,150,551
	Purchases	2,122,439				453,205				—				496,219			406,465			3,478,328				—
	Sales	(24,131		)		(134,166		)		—				(4,669		)	(19,207		)	(182,173		)		—
	Settlements	—				15,720				—				—			—			15,720				—
	Net Realized Gains (Losses)	(695,318		)		28,734				—				2,655			176			(663,753		)		—
	Net Unrealized Gains (Losses)	1,649,418				9,409				—				(13,951		)	42,718			1,687,594				2,239
	Change in Other Comprehensive Income	—				—				—				—			—			—				—
	Balance, End of Period	$	30,876,329			$	2,317,366			$	—			$	3,780,928		$	778,638		$	37,753,261			$	1,152,790
	Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities	$	954,100			$	38,032			$	—			$	(13,951	)	$	43,665		$	1,021,846			$	2,239
	-1	The Transfers In noted in the tables above for credit, investments of consolidated CLOs and other investments are principally attributable to certain investments that experienced an insignificant level of market activity during the period and thus were valued in the absence of observable inputs.
	-2	The Transfers Out noted in the tables above for private equity investments are attributable to portfolio companies that are now valued using their publicly traded market price. The Transfers Out noted above for credit and other investments are principally attributable to certain investments that experienced a higher level of market activity during the period and thus were valued using observable inputs.
	-3	Upon adoption of ASU 2014-13, the debt obligations of consolidated CLOs are no longer Level III financial liabilities under the GAAP fair value hierarchy. As of March 31, 2015, the debt obligations of consolidated CLOs are measured on the basis of the fair value of the financial assets of the CLO and are classified as Level II financial liabilities. See Note 2 " Summary of Significant Accounting Policies".
Summary of valuation methodologies used for assets, measured at fair value and categorized within Level III	The following table presents additional information about valuation methodologies and significant unobservable inputs used for investments that are measured at fair value and categorized within Level III as of March 31, 2015:
		Fair Value					Valuation		Unobservable Input(s) (1)		Weighted		Range		Impact to
		March 31,					Methodologies				Average (2)				Valuation
		2015													from an
															Increase in
															Input (3)
	Private Equity Investments	$	26,132,215
	Financial Services	$	5,683,574				Inputs to market comparable, discounted cash flow and transaction cost		Illiquidity Discount		10.20%		10% - 15%		Decrease
									Weight Ascribed to Market Comparables		43.00%		38% - 100%		-4
									Weight Ascribed to Discounted Cash Flow		38.30%		0% - 50%		-5
									Weight Ascribed to Transaction Price		18.70%		0% - 25%		-6
							Market comparables		Enterprise Value/LTM EBITDA Multiple		13.0x		11.4x - 13.4x		Increase
									Enterprise Value/Forward EBITDA Multiple		11.4x		10.4x - 11.7x		Increase
							Discounted cash flow		Weighted Average Cost of Capital		11.10%		9.5% - 11.5%		Decrease
									Enterprise Value/LTM EBITDA Exit Multiple		10.4x		10.0x - 10.5x		Increase
	Technology	$	4,276,447				Inputs to market comparable, discounted cash flow and transaction cost		Illiquidity Discount		7.30%		0% - 20%		Decrease
									Weight Ascribed to Market Comparables		32.90%		0% - 100%		-4
									Weight Ascribed to Discounted Cash Flow		32.80%		0% - 50%		-5
									Weight Ascribed to Transaction Price		34.30%		0% - 100%		-6
							Market comparables		Enterprise Value/LTM EBITDA Multiple		12.1x		5.9x - 15.9x		Increase
									Enterprise Value/Forward EBITDA Multiple		10.9x		5.3x - 12.9x		Increase
							Discounted cash flow		Weighted Average Cost of Capital		12.10%		8.1% - 20.7%		Decrease
									Enterprise Value/LTM EBITDA Exit Multiple		9.0x		5.5x - 10.0x		Increase
	Healthcare	$	3,452,306				Inputs to market comparable, discounted cash flow and transaction cost		Illiquidity Discount		6.10%		2.5% - 15%		Decrease
									Weight Ascribed to Market Comparables		26.00%		0% - 50%		-4
									Weight Ascribed to Discounted Cash Flow		35.70%		12.5% - 100%		-5
									Weight Ascribed to Transaction Price		38.30%		0% - 75%		-6
							Market comparables		Enterprise Value/LTM EBITDA Multiple		11.2x		9.6x - 13.2x		Increase
									Enterprise Value/Forward EBITDA Multiple		10.5x		8.8x - 11.9x		Increase
							Discounted cash flow		Weighted Average Cost of Capital		11.70%		9.0% - 13.2%		Decrease
									Enterprise Value/LTM EBITDA Exit Multiple		10.3x		7.5x - 11.5x		Increase
	Retail	$	3,428,590				Inputs to market comparable, discounted cash flow and transaction		Illiquidity Discount		7.70%		5% - 20%		Decrease
									Weight Ascribed to Market Comparables		44.50%		0% - 50%		-4
									Weight Ascribed to Discounted Cash Flow		44.60%		37.5% - 100%		-5
									Weight Ascribed to Transaction Price		10.90%		0% - 25%		-6
		Fair Value					Valuation		Unobservable Input(s) (1)		Weighted		Range		Impact to
		March 31,					Methodologies				Average (2)				Valuation
		2015													from an
															Increase in
															Input (3)
	Retail (cont.)						Market comparables		Enterprise Value/LTM EBITDA Multiple		11.0x		7.0x - 14.3x	-7	Increase
									Enterprise Value/Forward EBITDA Multiple		9.6x		6.7x - 11.0x	-7	Increase
							Discounted cash flow		Weighted Average Cost of Capital		10.60%		9.0% - 22.2%		Decrease
									Enterprise Value/LTM EBITDA Exit Multiple		8.1x		6.0x - 10.8x		Increase
	Manufacturing	$	3,392,657				Inputs to both market comparable and discounted cash flow		Illiquidity Discount		8.50%		5% - 21%		Decrease
									Weight Ascribed to Market Comparables		46.10%		33.3% - 50%		-4
									Weight Ascribed to Discounted Cash Flow		53.90%		50% - 66.7%		-5
							Market comparables		Enterprise Value/LTM EBITDA Multiple		11.6x		6.8x - 19.6x		Increase
									Enterprise Value/Forward EBITDA Multiple		10.6x		7.5x - 14.6x		Increase
									Control Premium		20.00%		20% - 20%	-8	Increase
							Discounted cash flow		Weighted Average Cost of Capital		14.00%		9.5% - 20.6%		Decrease
									Enterprise Value/LTM EBITDA Exit Multiple		9.6x		7.0x - 10.5x		Increase
	Other	$	5,898,641				Inputs to market comparable, discounted cash flow and transaction cost		Illiquidity Discount		11.60%		5% - 20%		Decrease
									Weight Ascribed to Market Comparables		47.30%		0% - 100%		-4
									Weight Ascribed to Discounted Cash Flow		52.70%		0% - 100%		-5
							Market comparables		Enterprise Value/LTM EBITDA Multiple		11.9x		6.9x - 19.7x		Increase
									Enterprise Value/Forward EBITDA Multiple		10.7x		6.5x - 14.8x		Increase
									Control Premium		15.80%		10% - 20%	-8	Increase
							Discounted cash flow		Weighted Average Cost of Capital		12.80%		8% - 25.3%		Decrease
									Enterprise Value/LTM EBITDA Exit Multiple		9.9x		6.5x - 12.0x		Increase
	Real Assets	$	3,874,099
	Energy	$	1,615,253				Discounted cash flow		Weighted Average Cost of Capital		12.60%		8.9% - 17.6%		Decrease
									Average Price Per BOE (12)		$30.50		$25.46 - $33.97		Increase
	Infrastructure	$	944,891				Discounted cash flow		Weighted Average Cost of Capital		7.80%		5.7% - 12.5%		Decrease
								Enterprise Value/LTM EBITDA Exit Multiple		8.7x		7.8x - 10.0x		Increase
Real Estate	$	1,313,955				Inputs to direct income capitalization and discounted cash flow		Weight Ascribed to Direct Income Capitalization		31.10%		0% - 100%		-10
								Weight Ascribed to Discounted Cash Flow		68.90%		0% - 100%		-5
						Direct Income Capitalization		Current Capitalization Rate		7.00%		4.5% - 11.9%		Decrease
						Discounted cash flow		Unlevered Discount Rate		9.70%		7.3% - 20%		Decrease
Credit (11)	$	4,379,881		(9	)	Yield Analysis		Yield		11.30%		5.9% - 22.4%		Decrease
								Net Leverage		5.3x		0.4x - 12.6x		Decrease
								EBITDA Multiple		8.0x		0.7x - 14.9x		Increase
In the table above, Other Investments, within private equity investments, represents the following industries: Consumer Products, Education, Forestry, Media, Services, Telecommunications, Transportation, Hotels/Leisure, Mining, Agriculture and Recycling. None of these industries represents more than 10% of total Level III private equity investments as of March 31, 2015.
-1	In determining certain of these inputs, management evaluates a variety of factors including economic conditions, industry and market developments, market valuations of comparable companies and company specific developments including exit strategies and realization opportunities. Management has determined that market participants would take these inputs into account when valuing the investments. LTM means Last Twelve Months and EBITDA means Earnings Before Interest Taxes Depreciation and Amortization.
-2	Inputs were weighted based on the fair value of the investments included in the range.
-3	Unless otherwise noted, this column represents the directional change in the fair value of the Level III investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements.
-4	The directional change from an increase in the weight ascribed to the market comparables approach would increase the fair value of the Level III investments if the market comparables approach results in a higher valuation than the discounted cash flow approach and transaction price. The opposite would be true if the market comparables approach results in a lower valuation than the discounted cash flow approach and transaction price.
-5	The directional change from an increase in the weight ascribed to the discounted cash flow approach would increase the fair value of the Level III investments if the discounted cash flow approach results in a higher valuation than the market comparables approach, transaction price and direct income capitalization approach. The opposite would be true if the discounted cash flow approach results in a lower valuation than the market comparables approach and transaction price.
-6	The directional change from an increase in the weight ascribed to the transaction price would increase the fair value of the Level III investments if the transaction price results in a higher valuation than the market comparables and discounted cash flow approach. The opposite would be true if the transaction price results in a lower valuation than the market comparables approach and discounted cash flow approach.
-7	Ranges shown exclude inputs relating to a single portfolio company that was determined to lack comparability with other investments in KKR’s private equity portfolio. This portfolio company had a fair value representing less than 0.5% of the total fair value of Private Equity Investments and had an Enterprise Value/LTM EBITDA Multiple and Enterprise Value/Forward EBITDA Multiple of 31.4x and 21.3x, respectively. The exclusion of this investment does not impact the weighted average.
-8	Level III private equity investments whose valuations include a control premium represent less than 5% of total Level III private equity investments. The valuations for the remaining investments do not include a control premium.
-9	Amounts include $504.0 million of investments that were valued using dealer quotes or third party valuation firms.
-10	The directional change from an increase in the weight ascribed to the direct income capitalization approach would increase the fair value of the Level III investments if the direct income capitalization approach results in a higher valuation than the discounted cash flow approach. The opposite would be true if the direct income capitalization approach results in a lower valuation than the discounted cash flow approach.
-11	Includes Level III Credit Investments and Level III Investments of Consolidated CLOs.
-12	The total Energy fair value amount includes multiple investments (in multiple locations throughout North America) that are held in multiple investment funds and produce varying quantities of oil, condensate, natural gas liquids, and natural gas. Commodity price may be measured using a common volumetric equivalent where one barrel of oil equivalent, or BOE, is determined using the ratio of six thousand cubic feet of natural gas to one barrel of oil, condensate or natural gas liquids. The price per BOE is provided to show the aggregate of all price inputs for the various investments over a common volumetric equivalent although the valuations for specific investments may use price inputs specific to the asset for purposes of our valuations. The discounted cash flows include forecasted production of liquids (oil, condensate, and natural gas liquids) and natural gas with a forecasted revenue ratio of approximately 36% liquids and 64% natural gas.

NET_INCOME_LOSS_ATTRIBUTABLE_T1

NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. L.P. PER COMMON UNIT (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Share [Abstract]
Schedule of basic and diluted Net Income (Loss) attributable to KKR & Co. earnings per common unit	For the three months ended March 31, 2015 and 2014, basic and diluted Net Income (Loss) attributable to KKR & Co. L.P. per common unit were calculated as follows:
		Three Months Ended
		31-Mar-15			31-Mar-14
	Net Income (Loss) Attributable to KKR & Co. L.P.	$	270,507		$	210,041
	Basic Net Income (Loss) Per Common Unit
	Weighted Average Common Units Outstanding - Basic	434,874,820			293,490,461
	Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Basic	$	0.62		$	0.72
	Diluted Net Income (Loss) Per Common Unit
	Weighted Average Common Units Outstanding - Basic	434,874,820			293,490,461
	Weighted Average Unvested Common Units and Other Exchangeable Securities	37,350,524			31,613,768
	Weighted Average Common Units Outstanding - Diluted	472,225,344			325,104,229
	Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Diluted	$	0.57		$	0.65
Schedule of KKR Holdings units excluded from the calculation of diluted Net Income (Loss) attributable to KKR & Co. L.P. per common unit
		Three Months Ended
		31-Mar-15		31-Mar-14
	Weighted Average KKR Holdings Units Outstanding	375,836,317		399,474,991

OTHER_ASSETS_AND_ACCOUNTS_PAYA1

OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2015
OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
Schedule of other assets	Other Assets consist of the following:
		31-Mar-15		31-Dec-14
	Foreign Exchange Contracts and Options (a)	$	871,040	$	517,088
	Interest, Dividend and Notes Receivable (b)	617,626		594,288
	Due from Broker (c)	467,933		561,554
	Oil & Gas Assets, net (d)	455,481		460,658
	Unsettled Investment Sales (e)	291,983		176,622
	Deferred Tax Assets, net	266,289		237,982
	Intangible Assets, net (f)	196,688		209,202
	Goodwill (f)	89,000		89,000
	Fixed Assets, net (g)	75,492		76,247
	Receivables	56,244		55,876
	Deferred Financing Costs	50,732		46,058
	Derivative Assets	16,249		11,897
	Deferred Transaction Related Expenses	14,218		14,981
	Prepaid Expenses	13,890		8,812
	Prepaid Taxes	6,334		31,267
	Other	21,725		72,685
	Total	$	3,510,924	$	3,164,217
	(a)	Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign denominated investments. Such instruments are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying condensed consolidated statements of operations. See Note 3 “Net Gains (Losses) from Investment Activities” for the net changes in fair value associated with these instruments.
	(b)	Represents interest and dividend receivables and promissory notes due from third parties. The promissory notes bear interest at rates ranging from 2.0% -3.0% per annum and mature between 2016 and 2018.
	(c)	Represents amounts held at clearing brokers resulting from securities transactions.
	(d)	Includes proved and unproved oil and natural gas properties under the successful efforts method of accounting, which is net of impairment write-downs, accumulated depreciation, depletion and amortization.
	(e)	Represents amounts due from third parties for investments sold for which cash settlement has not occurred.
	(f)     See Note 15 “Goodwill and Intangible Assets.”
	(g)	Net of accumulated depreciation and amortization of $126,823 and $122,908 as of March 31, 2015 and December 31, 2014, respectively. Depreciation and amortization expense of $3,914 and $4,047 for the three months ended March 31, 2015 and 2014, respectively, is included in General, Administrative and Other in the accompanying condensed consolidated statements of operations.
Schedule of accounts payable, accrued expenses and other liabilities	Accounts Payable, Accrued Expenses and Other Liabilities consist of the following:
		31-Mar-15		31-Dec-14
	Amounts Payable to Carry Pool (a)	$	1,154,424	$	1,100,943
	Unsettled Investment Purchases (b)	679,747		891,649
	Securities Sold Short (c)	583,645		633,132
	Due to Broker (d)	249,990		72,509
	Accounts Payable and Accrued Expenses	103,497		130,023
	Foreign Exchange Contracts and Options (e)	102,598		71,956
	Derivative Liabilities	71,266		75,150
	Accrued Compensation and Benefits	64,946		17,799
	Interest Payable	63,399		61,643
	Contingent Consideration Obligation (f)	42,600		40,600
	Deferred Rent and Income	24,433		26,894
	Taxes Payable	9,067		6,362
	Other Liabilities	120,508		70,692
	Total	$	3,270,120	$	3,199,352
	(a)	Represents the amount of carried interest payable to principals, professionals and other individuals with respect to KKR’s active funds and co-investment vehicles that provide for carried interest.
	(b)	Represents amounts owed to third parties for investment purchases for which cash settlement has not occurred.
	(c)	Represents the obligations of KKR to deliver a specified security at a future point in time. Such securities are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying condensed consolidated statements of operations. See Note 3 “Net Gains (Losses) from Investment Activities” for the net changes in fair value associated with these instruments. The cost bases for these instruments at March 31, 2015 and December 31, 2014 were $556,782 and $628,071, respectively.
	(d)	Represents amounts owed for securities transactions initiated at clearing brokers.
	(e)	Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign denominated investments. Such instruments are measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying condensed consolidated statements of operations. See Note 3 “Net Gains (Losses) from Investment Activities” for the net changes in fair value associated with these instruments.
	(f)	Represents the fair value of the contingent consideration related to the acquisition of Prisma.

VARIABLE_INTEREST_ENTITIES_Tab

VARIABLE INTEREST ENTITIES (Tables)	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of maximum exposure to loss, before allocations to the carry pool, if any, for those VIEs in which entity is determined not to be the primary beneficiary but in which it has a variable interest	As of March 31, 2015 and December 31, 2014, the maximum exposure to loss, before allocations to the carry pool, if any, for those VIEs in which KKR is determined not to be the primary beneficiary but in which it has a variable interest is as follows:
		31-Mar-15		31-Dec-14
	Investments	$	319,603	$	375,061
	Due from Affiliates, net	599		3,478
	Maximum Exposure to Loss	$	320,202	$	378,539

DEBT_OBLIGATIONS_Tables

DEBT OBLIGATIONS (Tables)	3 Months Ended
	Mar. 31, 2015
Debt Disclosure [Abstract]
Schedule of borrowings	KKR’s borrowings consisted of the following:
		31-Mar-15								31-Dec-14
		Financing Available		Borrowing Outstanding			Fair Value			Financing Available		Borrowing Outstanding		Fair Value
	Revolving Credit Facilities:
	Corporate Credit Agreement	$	1,000,000	$	—		$	—		$	1,000,000	$	—	$	—
	KCM Credit Agreement	403,000		97,000			97,000		(i)	473,000		27,000		27,000		(i)
	Notes Issued:
	KKR Issued 6.375% Notes Due 2020 (a)	—		498,856			587,000		(j)	—		498,804		583,692		(j)
	KKR Issued 5.500% Notes Due 2043 (b)	—		494,692			541,250		(j)	—		494,644		566,250		(j)
	KKR Issued 5.125% Notes Due 2044 (c)	—		998,553			1,039,000		(j)	—		493,214		539,797		(j)
	KFN Issued 8.375% Notes Due 2041 (d)	—		290,567			289,947		(k)	—		290,861		287,359		(k)
	KFN Issued 7.500% Notes Due 2042 (e)	—		123,585			125,488		(k)	—		123,663		125,856		(k)
	KFN Issued Junior Subordinated Notes (f)	—		247,320			221,775			—		246,907		228,087
	Other Consolidated Debt Obligations:
	KKR Fund Financing Facilities (g)	3,048,109		1,808,781			1,808,781		(l)	2,150,819		1,047,351		1,047,351		(l)
	CLO Vehicles (h)	—		7,158,322			7,158,322			—		7,615,340		7,615,340
		$	4,451,109	$	11,717,676		$	11,868,563		$	3,623,819	$	10,837,784	$	11,020,732
	(a)     $500 million aggregate principal amount of 6.375% senior notes of KKR due 2020.
	(b)     $500 million aggregate principal amount of 5.500% senior notes of KKR due 2043.
	(c)	$1.0 billion aggregate principal amount of 5.125% senior notes of KKR due 2044.
	(d)	KKR consolidates KFN and thus reports KFN’s outstanding $259 million aggregate principal amount of 8.375% senior notes due 2041.
	(e)	KKR consolidates KFN and thus reports KFN’s outstanding $115 million aggregate principal amount of 7.500% senior notes due 2042.
	(f)	KKR consolidates KFN and thus reports KFN’s outstanding $284 million aggregate principal amount of junior subordinated notes. The weighted average interest rate is 5.4% and the weighted average years to maturity is 21.5 years as of March 31, 2015. These debt obligations are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR’s Level III credit investments.
	(g)	Certain of KKR’s investment funds have entered into financing arrangements with major financial institutions, generally to enable such investment funds to make investments prior to or without receiving capital from fund limited partners. The weighted average interest rate is 2.5% and 2.9% as of March 31, 2015 and December 31, 2014, respectively. In addition, the weighted average years to maturity is 2.6 years and 2.9 years as of March 31, 2015 and December 31, 2014, respectively.
	(h)	The debt obligations of consolidated CLO vehicles are carried at fair value. As of March 31, 2015, the debt obligations of consolidated CLOs are measured on the basis of the fair value of the financial assets of the CLO and are classified as Level II financial liabilities. See Note 5 “Fair Value Measurements.”
	(i)        Carrying value approximates fair value given the credit facility's interest rate is variable.
	(j)	The notes are classified as Level II within the fair value hierarchy and fair value is determined by third party broker quotes.
	(k)	The notes are classified as Level I within the fair value hierarchy and fair value is determined by quoted prices in active markets since the debt is publicly listed.
	(l)	Carrying value approximates fair value given the fund financing facilities’ interest rates are variable.
Schedule of debt obligations of consolidated CLOs	As of March 31, 2015, debt obligations of consolidated CLOs consisted of the following:
		Borrowing		Weighted		Weighted Average
		Outstanding		Average		Remaining
				Interest Rate		Maturity in Years
	Senior Secured Notes	$	6,907,430	1.9	%	8.5
	Subordinated Notes	250,892		(a)		8.2
		$	7,158,322
	(a) The subordinated notes do not have contractual interest rates but instead receive a pro rata amount of the net distributions from the excess cash flows of the respective CLO vehicle. Accordingly, weighted average borrowing rates for the subordinated notes are based on cash distributions during the period ended March 31, 2015, if any.

EQUITY_BASED_COMPENSATION_Tabl

EQUITY BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of expense associated with equity based compensation	The following table summarizes the expense associated with equity based compensation for the three months ended March 31, 2015 and 2014, respectively.
		Three months ended March 31,
		2015				2014
	Equity Incentive Plan Units	$	52,265			$	39,353
	KKR Holdings Principal Awards	2,518				10,222
	Other Exchangeable Securities	3,768				3,024
	KKR Holdings Restricted Equity Units	128				110
	Discretionary Compensation	17,871				24,819
	Total	$	76,550			$	77,528
Schedule of unrecognized expense of Equity Incentive Plan awards expected to be recognized	As of March 31, 2015, there was approximately $346.1 million of estimated unrecognized expense related to unvested
	awards. That cost is expected to be recognized as follows:
	Year		Unrecognized Expense
			(in millions)
	Remainder of 2015		$	127.1
	2016		128.2
	2017		73.3
	2018		17.5
	Total		$	346.1
Schedule of awards granted under Equity Incentive Plan	A summary of the status of unvested awards granted under the Equity Incentive Plan from January 1, 2015 through March 31, 2015 is presented below:
		Units			Weighted
					Average Grant
					Date Fair Value
	Balance, January 1, 2015	20,488,737			$	12.33
	Granted	14,902,386			16.98
	Vested	—			—
	Forfeited	(433,126	)		12.96
	Balance, March 31, 2015	34,957,997			$	14.3
Schedule of remaining vesting tranches of awards granted under the Equity Incentive Plan	A summary of the remaining vesting tranches of awards granted under the Equity Incentive Plan is presented below:
	Vesting Date		Units
	1-Apr-15		5,297,636
	1-Oct-15		5,524,491
	1-Apr-16		7,633,135
	1-Oct-16		4,322,545
	1-Apr-17		5,647,312
	1-Oct-17		1,317,132
	1-Apr-18		4,235,867
	1-Oct-18		968,380
	1-Apr-19		6,947
	1-Oct-19		4,552
			34,957,997
Schedule of unrecognized expense of principal awards expected to be recognized	As of March 31, 2015, there was approximately $7.4 million of estimated unrecognized equity-based payment and general administrative and other expense related to unvested Principal Awards. That cost is expected to be recognized as follows:
	Year		Unrecognized Expense
			(in millions)
	Remainder of 2015		$	4.9
	2016		2.1
	2017		0.4
	Total		$	7.4
Schedule of KKR Holdings awards granted to principals and certain non-employee consultant and service providers	A summary of the status of unvested Principal Awards from January 1, 2015 through March 31, 2015 is presented below:
		Units			Weighted
					Average Grant
					Date Fair Value
	Balance, January 1, 2015	4,708,434			$	8.44
	Granted	74,247			16.64
	Vested	—			—
	Forfeited	(94,718	)		7.39
	Balance, March 31, 2015	4,687,963			$	8.59
Schedule of remaining vesting tranches for principals and certain non-employee consultant and service providers	The following table summarizes the remaining vesting tranches of Principal Awards:
	Vesting Date		Units
	1-Apr-15		1,153,193
	1-Oct-15		2,063,345
	1-Apr-16		122,697
	1-Oct-16		1,127,413
	1-Apr-17		70,271
	1-Oct-17		111,293
	1-Apr-18		39,751
			4,687,963
Schedule of unrecognized expense of other exchangeable securities expected to be recognized	As of March 31, 2015, there was approximately $19.8 million of estimated unrecognized expense related to unvested Other Exchangeable Securities.  That cost is expected to be recognized as follows:
	Year		Unrecognized Expense
			(in millions)
	Remainder of 2015		$	10.4
	2016		9.4
	Total		$	19.8
Schedule of KKR Holdings awards granted to other exchangeable securities	A summary of the status of unvested Other Exchangeable Securities from January 1, 2015 through March 31, 2015 is presented below:
		Units			Weighted
					Average Grant
					Date Fair Value
	Balance, January 1, 2015	1,695,972			$18.45
	Granted	—			—
	Vested	—			—
	Forfeited	—			—
	Balance, March 31, 2015	1,695,972			$	18.45
Schedule of remaining vesting tranches for other exchangeable securities	The following table summarizes the remaining vesting tranches of Other Exchangeable Securities:
	Vesting Date		Units
	October 1, 2015		847,983
	October 1, 2016		847,989
			1,695,972

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Schedule of due from and to affiliates	Due from and to Affiliates consists of:
		31-Mar-15		31-Dec-14
	Fees earned from portfolio companies	$	40,576	$	64,989
	Fees earned from unconsolidated investment funds	44,746		47,229
	Due from related entities	24,024		34,838
	Due from Affiliates	$	109,346	$	147,056
		31-Mar-15		31-Dec-14
	Due to KKR Holdings in connection with the tax receivable agreement	$	128,268	$	121,803
	Due to related entities	13,381		9,745
	Due to Affiliates	$	141,649	$	131,548

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Schedule of financial data of the entity's reportable segments	The following tables present the financial data for KKR’s reportable segments:
		As of and for the Three Months Ended March 31, 2015
		Private			Public			Capital			Total
		Markets			Markets			Markets			Reportable
											Segments
	Segment Revenues
	Management, Monitoring and Transaction Fees, Net
	Management Fees	$	109,276		$	64,504		$	—		$	173,780
	Monitoring Fees	97,838			—			—			97,838
	Transaction Fees	46,599			13,430			43,257			103,286
	Fee Credits (1)	(69,906		)	(10,588		)	—			(80,494		)
	Total Management, Monitoring and Transaction Fees, Net	183,807			67,346			43,257			294,410
	Performance Income
	Realized Carried Interest	302,425			—			—			302,425
	Incentive Fees	—			5,665			—			5,665
	Unrealized Carried Interest	126,937			12,347			—			139,284
	Total Performance Income	429,362			18,012			—			447,374
	Investment Income (Loss)
	Net Realized Gains (Losses)	183,264			684			(3,281		)	180,667
	Net Unrealized Gains (Losses)	79,363			(87,877		)	(2,207		)	(10,721		)
	Total Realized and Unrealized	262,627			(87,193		)	(5,488		)	169,946
	Net Interest and Dividends	(7,831		)	51,872			6,634			50,675
	Total Investment Income (Loss)	254,796			(35,321		)	1,146			220,621
	Total Segment Revenues	867,965			50,037			44,403			962,405
	Segment Expenses
	Compensation and Benefits
	Cash Compensation and Benefits	73,967			24,005			9,055			107,027
	Realized Allocation to Carry Pool (2)	120,970			—			—			120,970
	Unrealized Allocation to Carry Pool (2)	50,693			4,938			—			55,631
	Total Compensation and Benefits	245,630			28,943			9,055			283,628
	Occupancy and Related Charges	11,016			3,122			658			14,796
	Other Operating Expenses	42,116			14,954			3,876			60,946
	Total Segment Expenses	298,762			47,019			13,589			359,370
	Income (Loss) attributable to noncontrolling interests (3)	719			175			2,728			3,622
	Economic Net Income (Loss)	$	568,484		$	2,843		$	28,086		$	599,413
	Total Assets	$	8,023,160		$	4,560,080		$	1,341,946		$	13,925,186
	-1	KKR’s agreements with the fund investors of certain of its investment funds require KKR to share with these fund investors an agreed upon percentage of certain fees, including monitoring and transaction fees received from portfolio companies (“Fee Credits”). Fund investors receive Fee Credits only with respect to monitoring and transaction fees that are allocable to the fund’s investment in the portfolio company and not, for example, any fees allocable to capital invested through co-investment vehicles. Fee Credits are calculated after deducting certain fund-related expenses and generally amount to 80% of allocable monitoring and transaction fees after fund-related expenses are recovered, although the actual percentage may vary from fund to fund as well as among different classes of investors within a fund.
	-2	With respect to KKR’s active and future investment funds and co-investment vehicles that provide for carried interest, KKR will allocate to its principals, other professionals and selected other individuals a portion of the carried interest earned in relation to these funds as part of its carry pool.
	-3	Represents economic interests that will (i) allocate to third parties an aggregate of 1% of profits and losses of KKR’s management companies until a future date and (ii) allocate to third party investors certain profits and losses in KKR’s Capital Markets segment.
		As of and for the Three Months Ended March 31, 2014
		Private			Public			Capital			Total
		Markets			Markets			Markets			Reportable
											Segments
	Segment Revenues
	Management, Monitoring and Transaction Fees, Net
	Management Fees	$	123,039		$	72,354		$	—		$	195,393
	Monitoring Fees	36,363			—			—			36,363
	Transaction Fees	93,020			6,022			64,474			163,516
	Fee Credits (1)	(80,338		)	(4,330		)	—			(84,668		)
	Total Management, Monitoring and Transaction Fees, Net	172,084			74,046			64,474			310,604
	Performance Income
	Realized Carried Interest	168,800			24,750			—			193,550
	Incentive Fees	—			17,019			—			17,019
	Unrealized Carried Interest	145,776			(129		)	—			145,647
	Total Performance Income	314,576			41,640			—			356,216
	Investment Income (Loss)
	Net Realized Gains (Losses)	176,198			5,479			51			181,728
	Net Unrealized Gains (Losses)	70,673			14,814			272			85,759
	Total Realized and Unrealized	246,871			20,293			323			267,487
	Net Interest and Dividends	(2,808		)	9,577			4,395			11,164
	Total Investment Income (Loss)	244,063			29,870			4,718			278,651
	Total Segment Revenues	730,723			145,556			69,192			945,471
	Segment Expenses
	Compensation and Benefits
Cash Compensation and Benefits	66,898			26,745			15,272			108,915
Realized Allocation to Carry Pool (2)	67,520			9,900			—			77,420
Unrealized Allocation to Carry Pool (2)	58,743			(53		)	—			58,690
Total Compensation and Benefits	193,161			36,592			15,272			245,025
Occupancy and Related Charges	11,560			2,172			457			14,189
Other Operating Expenses	40,059			8,507			4,235			52,801
Total Segment Expenses	244,780			47,271			19,964			312,015
Income (Loss) attributable to noncontrolling interests (3)	515			522			2,165			3,202
Economic Net Income (Loss)	$	485,428		$	97,763		$	47,063		$	630,254
Total Assets	$	6,425,260		$	1,633,796		$	1,433,212		$	9,492,268
-1	KKR’s agreements with the fund investors of certain of its investment funds require KKR to share with these fund investors an agreed upon percentage of certain fees, including monitoring and transaction fees received from portfolio companies (“Fee Credits”). Fund investors receive Fee Credits only with respect to monitoring and transaction fees that are allocable to the fund’s investment in the portfolio company and not, for example, any fees allocable to capital invested through co-investment vehicles. Fee Credits are calculated after deducting certain fund-related expenses and generally amount to 80% of allocable monitoring and transaction fees after fund-related expenses are recovered, although the actual percentage may vary from fund to fund as well as among different classes of investors within a fund.
-2	With respect to KKR’s active and future investment funds and co-investment vehicles that provide for carried interest, KKR will allocate to its principals, other professionals and selected other individuals a portion of the carried interest earned in relation to these funds as part of its carry pool.
-3	Represents economic interests that will (i) allocate to third parties an aggregate of 1% of profits and losses of KKR’s management companies until a future date and (ii) allocate to third party investors certain profits and losses in KKR’s Capital Markets segment.
Schedule of reconciliation of financial information from total reportable segments to the most directly comparable financial measures calculated and presented in accordance with GAAP	The following tables reconcile KKR’s total reportable segments to the most directly comparable financial measures calculated and presented in accordance with GAAP:
	Fees
		For the Three Months Ended
		31-Mar-15			31-Mar-14
	Total Segment Revenues	$	962,405		$	945,471
	Management fees relating to consolidated funds and other entities	(125,575		)	(145,208		)
	Fee credits relating to consolidated funds	72,949			80,092
	Net realized and unrealized carried interest	(441,709		)	(339,197		)
	Total investment income (loss)	(220,621		)	(278,651		)
	Revenue earned by oil & gas producing entities	24,944			17,781
	Reimbursable expenses	9,778			15,986
	Other	9,174			6,652
	Fees and Other	$	291,345		$	302,926
	Expenses
		For the Three Months Ended
		31-Mar-15			31-Mar-14
	Total Segment Expenses	$	359,370		$	312,015
	Equity based compensation	76,550			77,528
	Reimbursable expenses	19,859			18,912
	Operating expenses relating to consolidated funds and other entities	10,970			7,315
	Expenses incurred by oil & gas producing entities	21,078			10,984
	Intangible amortization, acquisition, litigation and certain non-recurring costs	15,471			23,303
	Other	11,735			23,114
	Total Expenses	$	515,033		$	473,171
	Income (Loss) Before Taxes
		For the Three Months Ended
		31-Mar-15			31-Mar-14
	Economic net income	$	599,413		$	630,254
	Income taxes	(16,138		)	(21,702		)
	Amortization of intangibles and other, net	2,790			(20,169		)
	Equity based compensation	(76,550		)	(77,528		)
	Net income (loss) attributable to noncontrolling interests held by KKR Holdings	(239,008		)	(300,814		)
	Net income (loss) attributable to KKR & Co. L.P.	270,507			210,041
	Net income (loss) attributable to noncontrolling interests and appropriated capital	1,670,569			1,783,488
	Net income (loss) attributable to redeemable noncontrolling interests	1,933			10,637
	Income taxes	16,138			21,702
	Income (loss) before taxes	$	1,959,147		$	2,025,868

ACQUISITIONS_Tables

ACQUISITIONS (Tables)	3 Months Ended
	Mar. 31, 2015
KFN
Acquisitions
Schedule of consideration paid	The total consideration paid was approximately $2.4 billion consisting entirely of the issuance of 104.3 million KKR common units as follows (amounts in thousands except unit data):
	Number of KKR common units issued	104,340,028
	KKR common unit price on April 30, 2014	$	22.71
	Estimated fair value of KKR common units issued	$	2,369,559
Summary of the estimated fair values of the assets acquired and liabilities assumed	The following is a summary of the estimated fair values of the assets acquired and liabilities as of April 30, 2014, the date they were assumed (amounts in thousands):
	Cash and cash equivalents	$	210,413
	Cash and cash equivalents held at consolidated entities	614,929
	Restricted cash and cash equivalents	35,038
	Investments	1,235,813
	Investments of consolidated CLOs	6,742,768
	Other assets	642,721
	Other assets of consolidated CLOs	133,036
	Total assets	9,614,718
	Debt obligations	724,509
	Debt obligations of consolidated CLOs	5,663,666
	Accounts payable, accrued expenses and other liabilities	118,427
	Other liabilities of consolidated CLOs	344,660
	Total liabilities	6,851,262
	Noncontrolling interests	378,983
	Fair value of Net Assets Acquired	2,384,473
	Less: Fair value of consideration transferred	2,369,559
	Gain on acquisition	$	14,914
Avoca Capital and its affiliates
Acquisitions
Summary of the estimated fair values of the assets acquired and liabilities assumed	The following is a summary of the estimated fair values of the assets acquired and liabilities as of February 19, 2014, the date they were assumed:
	Cash and cash equivalents	$	24,381
	Investments	20,905
	Investments of consolidated CLOs	1,226,174
	Other assets of consolidated CLOs	186,609
	Other assets	7,370
	Intangible assets	65,880
	Total assets	1,531,319
	Liabilities	13,584
	Debt obligations of consolidated CLOs	1,150,551
	Other liabilities of consolidated CLOs	140,308
	Total liabilities	1,304,443
	Fair Value of Net Assets Acquired	226,876
	Less: Fair value of subordinated notes of consolidated CLOs held by KKR prior to acquisition (a)	74,029
	Less: Fair value of consideration transferred	139,798
	Gain on acquisition	$	13,049
	(a)	Represents subordinated notes in one of the consolidated CLOs held by KKR prior to the acquisition of Avoca. Upon acquisition of Avoca, KKR’s investment in the subordinated notes was offset against the corresponding debt obligations of the consolidated CLO in purchase accounting.

GOODWILL_AND_INTANGIBLE_ASSETS1

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets, net	Intangible Assets, Net consists of the following:
		As of
		31-Mar-15			31-Dec-14
	Finite-Lived Intangible Assets	$	284,766		$	284,766
	Accumulated Amortization (includes foreign exchange)	(88,078		)	(75,564		)
	Intangible Assets, Net	$	196,688		$	209,202
Schedule of changes in intangible assets, net	Changes in Intangible Assets, Net consists of the following:
		Three Months Ended March 31, 2015
	Balance, Beginning of Period	$	209,202
	Amortization Expense	(6,708		)
	Foreign Exchange	(5,806		)
	Balance, End of Period	$	196,688

ORGANIZATION_Details

ORGANIZATION (Details)	3 Months Ended
	Mar. 31, 2015
Group Holdings
ORGANIZATION AND BASIS OF PRESENTATION
Percentage of economic interest held by parent entity	99.00%
Management Holdings Corp
ORGANIZATION AND BASIS OF PRESENTATION
Percentage of economic interest held by parent entity	1.00%
KKR Group Partnerships
ORGANIZATION AND BASIS OF PRESENTATION
Percentage of economic interest held by parent entity	46.00%
KKR Group Partnerships | Due to KKR Holdings in connection with the tax receivable agreement
ORGANIZATION AND BASIS OF PRESENTATION
Percentage of economic interest held by parent entity	54.00%

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Principles of Consolidation) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Effect on net income (loss) as a result of the elimination in consolidation of management fees earned from noncontrolling interests	$0

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Redeemable Noncontrolling Interests) (Details)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Expiration period of redeemable noncontrolling interests, low end of range	1 year
Expiration period of redeemable noncontrolling interests, high end of range	3 years

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Noncontrolling Interests in Consolidated Entities) (Details)	3 Months Ended
	Mar. 31, 2015
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of carried interest received by general partners	1.00%
Percentage of other profits (losses) received by general partners	1.00%
Series A LLC Preferred Shares | KFN
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Preferred Shares dividend rate (as a percent)	7.38%

SUMMARY_OF_SIGNIFICANT_ACCOUNT6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Noncontrolling Interests Held by KKR Holdings) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Calculation of Noncontrolling Interest [Abstract]
Equity based compensation	$76,550	$77,528
Capital contributions	1,880,114	4,564,205
Capital distributions	-3,407,973	-3,804,475
Net Income (Loss) Attributable to Noncontrolling Interest [Abstract]
Net Income (Loss)	1,943,009	2,004,166
Less: Net income (loss) attributable to Redeemable Noncontrolling Interests	1,933	10,637
Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities and appropriated capital	1,431,561	1,482,674
Plus: Income taxes attributable to KKR Management Holdings Corp.	6,053	10,947
Net income (loss) attributable to KKR & Co. L.P. and KKR Holdings	515,568	521,802
Noncontrolling Interests held by KKR Holdings
Calculation of Noncontrolling Interest [Abstract]
Balance at the beginning of the period	4,661,679	5,116,761
Net income (loss) attributable to noncontrolling interests held by KKR Holdings (a)	239,008	300,814
Other comprehensive income (loss), net of tax (b)	-11,077	2,469
Impact of the exchange of KKR Holdings units to KKR & Co. L.P. common units (c)	-58,140	-144,521
Equity based compensation	20,517	35,150
Capital contributions	250	460
Capital distributions	-132,274	-192,642
Balance at the end of the period	$4,719,963	$5,118,491

SUMMARY_OF_SIGNIFICANT_ACCOUNT7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Fair Value Measurement) (Details)	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements
Number of valuation methodologies used to determine fair value of investments	2
Maximum
Fair Value Measurements
Weighting percentage of methodology used to determine fair value of investments	100.00%
Minimum
Fair Value Measurements
Illiquidity Discount (as a percent)	5.00%
Private equity investment portfolio with more than one methodology | Significant Unobservable Inputs (Level III) | Market comparables
Fair Value Measurements
Weighting percentage of methodology used to determine fair value of investments	50.00%
Private equity investment portfolio with more than one methodology | Significant Unobservable Inputs (Level III) | Discounted cash flow analysis
Fair Value Measurements
Weighting percentage of methodology used to determine fair value of investments	50.00%
Private equity investment portfolio with single methodology | Significant Unobservable Inputs (Level III)
Fair Value Measurements
Percentage of fair value of investments which are valued on certain methodologies	55.40%
Private equity investment portfolio with single methodology | Significant Unobservable Inputs (Level III) | Maximum
Fair Value Measurements
Percentage of fair value of investments which are valued on certain methodologies	5.00%
Private equity investment portfolio with single methodology | Significant Unobservable Inputs (Level III) | Market comparables
Fair Value Measurements
Weighting percentage of methodology used to determine fair value of investments	100.00%
Private equity investment portfolio with single methodology | Significant Unobservable Inputs (Level III) | Discounted cash flow analysis
Fair Value Measurements
Weighting percentage of methodology used to determine fair value of investments	100.00%
Private markets investments valuation | Significant Unobservable Inputs (Level III) | Maximum
Fair Value Measurements
Percentage of fair value of investments for which valuations reviewed quarterly	5.00%

SUMMARY_OF_SIGNIFICANT_ACCOUNT8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Fees and Other) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies [Abstract]
Monitoring Fees	$111,525	$52,349
Transaction Fees	92,605	155,154
Management Fees	48,205	50,185
Oil and Gas Revenue	24,944	17,781
Consulting Fees	8,427	10,351
Incentive Fees	5,639	17,106
Fees and Other	$291,345	$302,926

NET_GAINS_LOSSES_FROM_INVESTME2

NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES (Summary of Net Gains (Losses) from Investment Activities (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Total Net Gains (Losses) from Investment Activities
Net Realized Gains (Losses)	$1,805,787	$750,627
Net Unrealized Gains (Losses)	114,038	1,221,553
Private Equity (a)
Total Net Gains (Losses) from Investment Activities
Net Realized Gains (Losses)	1,619,876	635,069
Net Unrealized Gains (Losses)	271,278	1,045,459
Credit and Other (a)
Total Net Gains (Losses) from Investment Activities
Net Realized Gains (Losses)	42,826	159,780
Net Unrealized Gains (Losses)	-275,975	134,845
Investments of Consolidated CLOs (a)
Total Net Gains (Losses) from Investment Activities
Net Realized Gains (Losses)	-17,271	-225
Net Unrealized Gains (Losses)	92,903	16,450
Real Assets (a)
Total Net Gains (Losses) from Investment Activities
Net Realized Gains (Losses)	0	2,655
Net Unrealized Gains (Losses)	-100,112	-10,353
Foreign Exchange Forward Contracts and Options (b)
Total Net Gains (Losses) from Investment Activities
Net Realized Gains (Losses)	133,931	-8,439
Net Unrealized Gains (Losses)	323,310	9,283
Securities Sold Short (b)
Total Net Gains (Losses) from Investment Activities
Net Realized Gains (Losses)	-1,637	-16,013
Net Unrealized Gains (Losses)	-21,802	23,989
Other Derivatives
Total Net Gains (Losses) from Investment Activities
Net Realized Gains (Losses)	-7,679	-18,009
Net Unrealized Gains (Losses)	9,439	5,161
Foreign Exchange Gains (Losses) on Debt Obligations (c)
Total Net Gains (Losses) from Investment Activities
Net Realized Gains (Losses)	11,017	-2,236
Net Unrealized Gains (Losses)	-108,511	-2,882
Foreign Exchange Gains (Losses) and Other (d)
Total Net Gains (Losses) from Investment Activities
Net Realized Gains (Losses)	24,724	-1,955
Net Unrealized Gains (Losses)	($76,492)	($399)

INVESTMENTS_Summary_of_Investm

INVESTMENTS (Summary of Investments) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Investments
Fair Value	$60,971,453	$60,167,626
Cost	54,389,903	53,576,291
Private Equity
Investments
Fair Value	37,912,609	38,222,255
Cost	28,736,938	29,317,314
Credit
Investments
Fair Value	6,985,924	6,702,740
Cost	7,391,974	6,906,583
Investments of Consolidated CLOs
Investments
Fair Value	8,049,472	8,559,967
Cost	8,211,888	8,815,286
Real Assets
Investments
Fair Value	3,874,099	3,130,404
Cost	6,197,448	5,354,191
Other
Investments
Fair Value	4,149,349	3,552,260
Cost	$3,851,655	$3,182,917

INVESTMENTS_Private_Equity_Inv

INVESTMENTS (Private Equity Investments by Industry) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Investments
Fair Value	$60,971,453	$60,167,626
Private Equity
Investments
Fair Value	37,912,609	38,222,255
Private Equity | Health Care
Investments
Fair Value	9,652,931	10,269,605
Private Equity | Financial Services
Investments
Fair Value	6,111,757	5,691,815
Private Equity | Technology
Investments
Fair Value	4,520,091	4,262,800
Private Equity | Retail
Investments
Fair Value	4,359,055	4,141,276
Private Equity | Manufacturing
Investments
Fair Value	4,217,880	4,227,859
Private Equity | Other
Investments
Fair Value	$9,050,895	$9,628,900

INVESTMENTS_Narrative_Details

INVESTMENTS (Narrative) (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Investments
Fair value of investment with greater than 5% of total investments	60,971,453,000	60,167,626,000
Private equity investments	602,200,000	577,000,000
Investment Concentration Risk | Investments
Investments
Minimum percentage of total investments	5.00%	5.00%
Alliance Boots | Investment Concentration Risk | Investments
Investments
Fair value of investment with greater than 5% of total investments	4,400,000,000	5,500,000,000
First Data | Investment Concentration Risk | Investments
Investments
Fair value of investment with greater than 5% of total investments	4,200,000,000	3,800,000,000
Investment Type
Investments
Pledged assets	10,100,000,000	11,400,000,000

FAIR_VALUE_MEASUREMENTS_Detail

FAIR VALUE MEASUREMENTS (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Significant Unobservable Inputs (Level III) | Private Equity
Assets, at fair value:
Total Assets	$26,132,215
Significant Unobservable Inputs (Level III) | Credit
Assets, at fair value:
Total Assets	4,379,881
Significant Unobservable Inputs (Level III) | Real Assets
Assets, at fair value:
Total Assets	3,874,099
Fair value measured on recurring basis
Assets, at fair value:
Total Investments	60,442,276	59,598,401
Total Assets	61,329,565	60,127,386
Liabilities, at fair value:
Securities Sold Short	583,645	633,132
Unfunded Revolver Commitments	4,788	3,858
Total Liabilities	762,297	8,399,436
Fair value measured on recurring basis | Debt Obligations of Consolidated CLOs
Liabilities, at fair value:
Total Liabilities		7,615,340
Fair value measured on recurring basis | Foreign Exchange Forward Contracts
Assets, at fair value:
Total Assets	871,040	517,088
Liabilities, at fair value:
Total Liabilities	102,598	71,956
Fair value measured on recurring basis | Other Derivatives
Assets, at fair value:
Total Assets	16,249	11,897
Liabilities, at fair value:
Total Liabilities	71,266	75,150
Fair value measured on recurring basis | Private Equity
Assets, at fair value:
Total Investments	37,912,609	38,222,255
Fair value measured on recurring basis | Credit
Assets, at fair value:
Total Investments	6,985,924	6,702,740
Fair value measured on recurring basis | Investments of Consolidated CLOs
Assets, at fair value:
Total Investments	8,049,472	8,559,967
Fair value measured on recurring basis | Real Assets
Assets, at fair value:
Total Investments	3,874,099	3,130,404
Fair value measured on recurring basis | Other
Assets, at fair value:
Total Investments	3,620,172	2,983,035
Fair value measured on recurring basis | Quoted Prices in Active Markets for Identical Assets (Level I)
Assets, at fair value:
Total Investments	7,579,887	6,514,453
Total Assets	7,581,440	6,516,699
Liabilities, at fair value:
Securities Sold Short	583,069	630,794
Total Liabilities	583,069	630,794
Fair value measured on recurring basis | Quoted Prices in Active Markets for Identical Assets (Level I) | Other Derivatives
Assets, at fair value:
Total Assets	1,553	2,246
Fair value measured on recurring basis | Quoted Prices in Active Markets for Identical Assets (Level I) | Private Equity
Assets, at fair value:
Total Investments	6,773,425	5,940,470
Fair value measured on recurring basis | Quoted Prices in Active Markets for Identical Assets (Level I) | Credit
Assets, at fair value:
Total Investments	0
Fair value measured on recurring basis | Quoted Prices in Active Markets for Identical Assets (Level I) | Real Assets
Assets, at fair value:
Total Investments		0
Fair value measured on recurring basis | Quoted Prices in Active Markets for Identical Assets (Level I) | Other
Assets, at fair value:
Total Investments	806,462	573,983
Fair value measured on recurring basis | Significant Other Observable Inputs (Level II)
Assets, at fair value:
Total Investments	16,094,891	17,259,325
Total Assets	16,980,627	17,786,064
Liabilities, at fair value:
Securities Sold Short	576	2,338
Unfunded Revolver Commitments	4,788	3,858
Total Liabilities	179,228	153,302
Fair value measured on recurring basis | Significant Other Observable Inputs (Level II) | Foreign Exchange Forward Contracts
Assets, at fair value:
Total Assets	871,040	517,088
Liabilities, at fair value:
Total Liabilities	102,598	71,956
Fair value measured on recurring basis | Significant Other Observable Inputs (Level II) | Other Derivatives
Assets, at fair value:
Total Assets	14,696	9,651
Liabilities, at fair value:
Total Liabilities	71,266	75,150
Fair value measured on recurring basis | Significant Other Observable Inputs (Level II) | Private Equity
Assets, at fair value:
Total Investments	5,006,969	6,005,764
Fair value measured on recurring basis | Significant Other Observable Inputs (Level II) | Credit
Assets, at fair value:
Total Investments	2,759,699	2,510,038
Fair value measured on recurring basis | Significant Other Observable Inputs (Level II) | Investments of Consolidated CLOs
Assets, at fair value:
Total Investments	7,895,816	8,467,472
Fair value measured on recurring basis | Significant Other Observable Inputs (Level II) | Other
Assets, at fair value:
Total Investments	432,407	276,051
Fair value measured on recurring basis | Significant Unobservable Inputs (Level III)
Assets, at fair value:
Total Investments	36,767,498	35,824,623
Total Assets	36,767,498	35,824,623
Liabilities, at fair value:
Total Liabilities	0	7,615,340
Fair value measured on recurring basis | Significant Unobservable Inputs (Level III) | Debt Obligations of Consolidated CLOs
Liabilities, at fair value:
Total Liabilities		7,615,340
Fair value measured on recurring basis | Significant Unobservable Inputs (Level III) | Private Equity
Assets, at fair value:
Total Investments	26,132,215	26,276,021
Fair value measured on recurring basis | Significant Unobservable Inputs (Level III) | Credit
Assets, at fair value:
Total Investments	4,226,225	4,192,702
Fair value measured on recurring basis | Significant Unobservable Inputs (Level III) | Investments of Consolidated CLOs
Assets, at fair value:
Total Investments	153,656	92,495
Fair value measured on recurring basis | Significant Unobservable Inputs (Level III) | Real Assets
Assets, at fair value:
Total Investments	3,874,099	3,130,404
Fair value measured on recurring basis | Significant Unobservable Inputs (Level III) | Other
Assets, at fair value:
Total Investments	$2,381,303	$2,133,001

FAIR_VALUE_MEASUREMENTS_Detail1

FAIR VALUE MEASUREMENTS (Details 2) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Transfers In		$0
Private Equity | Significant Unobservable Inputs (Level III)
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	26,276,021	29,082,505
Transfers Out	-1,212,235	-1,258,584
Purchases	688,776	2,122,439
Sales	-327,054	-24,131
Net Realized Gains (Losses)	145,084	-695,318
Net Unrealized Gains (Losses)	561,623	1,649,418
Balance, End of Period	26,132,215	30,876,329
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities	712,482	954,100
Credit | Significant Unobservable Inputs (Level III)
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	4,192,702	1,944,464
Transfers In	16,706	0
Transfers Out	-12,860	0
Purchases	433,196	453,205
Sales	-196,667	-134,166
Settlements	57,567	15,720
Net Realized Gains (Losses)	-6,536	28,734
Net Unrealized Gains (Losses)	-257,883	9,409
Change in Other Comprehensive Income	0
Balance, End of Period	4,226,225	2,317,366
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities	-289,389	38,032
Investments of Consolidated CLOs | Significant Unobservable Inputs (Level III)
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	92,495
Transfers In	108,340
Purchases	1,308
Sales	-3,138
Settlements	-883
Net Unrealized Gains (Losses)	-44,466
Balance, End of Period	153,656
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities	-44,466
Real Assets | Significant Unobservable Inputs (Level III)
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	3,130,404	3,300,674
Purchases	853,770	496,219
Sales	-9,963	-4,669
Net Realized Gains (Losses)	0	2,655
Net Unrealized Gains (Losses)	-100,112	-13,951
Balance, End of Period	3,874,099	3,780,928
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities	-100,112	-13,951
Other | Significant Unobservable Inputs (Level III)
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	2,133,001	348,486
Transfers In	1,187	0
Transfers Out	-1,710	0
Purchases	414,362	406,465
Sales	-99,163	-19,207
Settlements	1,969
Net Realized Gains (Losses)	1,229	176
Net Unrealized Gains (Losses)	-69,572	42,718
Balance, End of Period	2,381,303	778,638
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities	-71,431	43,665
Investments | Significant Unobservable Inputs (Level III)
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	35,824,623	34,676,129
Transfers In	126,233	0
Transfers Out	-1,226,805	-1,258,584
Purchases	2,391,412	3,478,328
Sales	-635,985	-182,173
Settlements	58,653	15,720
Net Realized Gains (Losses)	139,777	-663,753
Net Unrealized Gains (Losses)	89,590	1,687,594
Balance, End of Period	36,767,498	37,753,261
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities	$207,084	$1,021,846

FAIR_VALUE_MEASUREMENTS_Detail2

FAIR VALUE MEASUREMENTS (Details 3) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
	transfer	transfer
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Number of transfers between Level I and Level II	0	1
Transfers between Level I and Level II	$0	$318,900,000
Significant Unobservable Inputs (Level III) | Debt Obligations of Consolidated CLOs
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	7,615,340,000	0
Acquisitions		1,150,551,000
Purchases	0
Sales	0
Settlements	0
Net Unrealized Gains (Losses)	0	2,239,000
Change in Accounting Principle	-7,615,340,000
Change in Other Comprehensive Income	0
Balance, End of Period	0	1,152,790,000
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities	$0	$2,239,000

FAIR_VALUE_MEASUREMENTS_Detail3

FAIR VALUE MEASUREMENTS (Details 4) (USD $)	3 Months Ended
	Mar. 31, 2015
Level III investments and other financial instruments by valuation methodologies
Revenue Ratio of Natural Gas (percent)	64.00%
Energy
Level III investments and other financial instruments by valuation methodologies
Revenue Ratio of Liquids (percent)	36.00%
Minimum
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	5.00%
Significant Unobservable Inputs (Level III) | Private Equity
Level III investments and other financial instruments by valuation methodologies
Fair Value	26,132,215,000
Significant Unobservable Inputs (Level III) | Private Equity | Financial Services
Level III investments and other financial instruments by valuation methodologies
Fair Value	5,683,574,000
Significant Unobservable Inputs (Level III) | Private Equity | Technology
Level III investments and other financial instruments by valuation methodologies
Fair Value	4,276,447,000
Significant Unobservable Inputs (Level III) | Private Equity | Health Care
Level III investments and other financial instruments by valuation methodologies
Fair Value	3,452,306,000
Significant Unobservable Inputs (Level III) | Private Equity | Retail
Level III investments and other financial instruments by valuation methodologies
Fair Value	3,428,590,000
Significant Unobservable Inputs (Level III) | Private Equity | Manufacturing
Level III investments and other financial instruments by valuation methodologies
Fair Value	3,392,657,000
Significant Unobservable Inputs (Level III) | Private Equity | Other
Level III investments and other financial instruments by valuation methodologies
Fair Value	5,898,641,000
Significant Unobservable Inputs (Level III) | Real Assets
Level III investments and other financial instruments by valuation methodologies
Fair Value	3,874,099,000
Significant Unobservable Inputs (Level III) | Real Assets | Energy
Level III investments and other financial instruments by valuation methodologies
Fair Value	1,615,253,000
Significant Unobservable Inputs (Level III) | Real Assets | Infrastructure
Level III investments and other financial instruments by valuation methodologies
Fair Value	944,891,000
Significant Unobservable Inputs (Level III) | Real Assets | Real Estate
Level III investments and other financial instruments by valuation methodologies
Fair Value	1,313,955,000
Significant Unobservable Inputs (Level III) | Credit
Level III investments and other financial instruments by valuation methodologies
Fair Value	4,379,881,000
Significant Unobservable Inputs (Level III) | Other
Level III investments and other financial instruments by valuation methodologies
Portfolio company's investments as a percentage of total investments, at fair value	10.00%
Value of investments in real assets whose valuation inputs are not comparable to other private equity investments	2,400,000,000
Significant Unobservable Inputs (Level III) | Market Comparables and Discounted Cash Flows | Private Equity | Minimum | Manufacturing
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	5.00%
Weight Ascribed to Market Comparables (as a percent)	33.30%
Weight Ascribed to Discounted Cash Flow (as a percent)	50.00%
Significant Unobservable Inputs (Level III) | Market Comparables and Discounted Cash Flows | Private Equity | Maximum | Manufacturing
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	21.00%
Weight Ascribed to Market Comparables (as a percent)	50.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	66.70%
Significant Unobservable Inputs (Level III) | Market Comparables and Discounted Cash Flows | Private Equity | Weighted Average [Member] | Manufacturing
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	8.50%
Weight Ascribed to Market Comparables (as a percent)	46.10%
Weight Ascribed to Discounted Cash Flow (as a percent)	53.90%
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Retail
Level III investments and other financial instruments by valuation methodologies
Enterprise Value / LTM EBITDA Multiple, excluded investment	31.4
Enterprise Value / Forward EBITDA Multiple, excluded investment	21.3
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Manufacturing
Level III investments and other financial instruments by valuation methodologies
Maximum percentage of investments that utilize some control premium as a percent of the total investments	5.00%
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Other
Level III investments and other financial instruments by valuation methodologies
Maximum percentage of investments that utilize some control premium as a percent of the total investments	5.00%
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Minimum | Financial Services
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	11.4
Enterprise Value/Forward EBITDA Multiple	10.4
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Minimum | Technology
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	5.9
Enterprise Value/Forward EBITDA Multiple	5.3
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Minimum | Health Care
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	9.6
Enterprise Value/Forward EBITDA Multiple	8.8
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Minimum | Retail
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	7
Enterprise Value/Forward EBITDA Multiple	6.7
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Minimum | Manufacturing
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	6.8
Enterprise Value/Forward EBITDA Multiple	7.5
Control Premium (as a percent)	20.00%
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Minimum | Other
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	6.9
Enterprise Value/Forward EBITDA Multiple	6.5
Control Premium (as a percent)	10.00%
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Maximum | Financial Services
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	13.4
Enterprise Value/Forward EBITDA Multiple	11.7
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Maximum | Technology
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	15.9
Enterprise Value/Forward EBITDA Multiple	12.9
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Maximum | Health Care
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	13.2
Enterprise Value/Forward EBITDA Multiple	11.9
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Maximum | Retail
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	14.3
Enterprise Value/Forward EBITDA Multiple	11
Portfolio company's investments as a percentage of total investments, at fair value	0.50%
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Maximum | Manufacturing
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	19.6
Enterprise Value/Forward EBITDA Multiple	14.6
Control Premium (as a percent)	20.00%
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Maximum | Other
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	19.7
Enterprise Value/Forward EBITDA Multiple	14.8
Control Premium (as a percent)	20.00%
Portfolio company's investments as a percentage of total investments, at fair value	5.00%
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Weighted Average [Member] | Financial Services
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	13
Enterprise Value/Forward EBITDA Multiple	11.4
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Weighted Average [Member] | Technology
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	12.1
Enterprise Value/Forward EBITDA Multiple	10.9
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Weighted Average [Member] | Health Care
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	11.2
Enterprise Value/Forward EBITDA Multiple	10.5
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Weighted Average [Member] | Retail
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	11
Enterprise Value/Forward EBITDA Multiple	9.6
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Weighted Average [Member] | Manufacturing
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	11.6
Enterprise Value/Forward EBITDA Multiple	10.6
Control Premium (as a percent)	20.00%
Significant Unobservable Inputs (Level III) | Market Comparables | Private Equity | Weighted Average [Member] | Other
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	11.9
Enterprise Value/Forward EBITDA Multiple	10.7
Control Premium (as a percent)	15.80%
Significant Unobservable Inputs (Level III) | Direct Income Capitalization And Discounted Cash Flow | Real Assets | Minimum | Real Estate
Level III investments and other financial instruments by valuation methodologies
Weight Ascribed to Discounted Cash Flow (as a percent)	0.00%
Weight Ascribed to Direct Income Capitalization (as a percent)	0.00%
Significant Unobservable Inputs (Level III) | Direct Income Capitalization And Discounted Cash Flow | Real Assets | Maximum | Real Estate
Level III investments and other financial instruments by valuation methodologies
Weight Ascribed to Discounted Cash Flow (as a percent)	100.00%
Weight Ascribed to Direct Income Capitalization (as a percent)	100.00%
Significant Unobservable Inputs (Level III) | Direct Income Capitalization And Discounted Cash Flow | Real Assets | Weighted Average [Member] | Real Estate
Level III investments and other financial instruments by valuation methodologies
Weight Ascribed to Discounted Cash Flow (as a percent)	68.90%
Weight Ascribed to Direct Income Capitalization (as a percent)	31.10%
Significant Unobservable Inputs (Level III) | Direct income capitalization | Real Assets | Minimum | Real Estate
Level III investments and other financial instruments by valuation methodologies
Current Capitalization Rate (as a percent)	4.50%
Significant Unobservable Inputs (Level III) | Direct income capitalization | Real Assets | Maximum | Real Estate
Level III investments and other financial instruments by valuation methodologies
Current Capitalization Rate (as a percent)	11.90%
Significant Unobservable Inputs (Level III) | Direct income capitalization | Real Assets | Weighted Average [Member] | Real Estate
Level III investments and other financial instruments by valuation methodologies
Current Capitalization Rate (as a percent)	7.00%
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Minimum | Financial Services
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	9.50%
Enterprise Value/LTM EBITDA Exit Multiple	10
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Minimum | Technology
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	8.10%
Enterprise Value/LTM EBITDA Exit Multiple	5.5
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Minimum | Health Care
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	9.00%
Enterprise Value/LTM EBITDA Exit Multiple	7.5
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Minimum | Retail
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	9.00%
Enterprise Value/LTM EBITDA Exit Multiple	6
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Minimum | Manufacturing
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	9.50%
Enterprise Value/LTM EBITDA Exit Multiple	7
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Minimum | Other
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	8.00%
Enterprise Value/LTM EBITDA Exit Multiple	6.5
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Maximum | Financial Services
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	11.50%
Enterprise Value/LTM EBITDA Exit Multiple	10.5
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Maximum | Technology
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	20.70%
Enterprise Value/LTM EBITDA Exit Multiple	10
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Maximum | Health Care
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	13.20%
Enterprise Value/LTM EBITDA Exit Multiple	11.5
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Maximum | Retail
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	22.20%
Enterprise Value/LTM EBITDA Exit Multiple	18
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Maximum | Manufacturing
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	20.60%
Enterprise Value/LTM EBITDA Exit Multiple	10.5
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Maximum | Other
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	25.30%
Enterprise Value/LTM EBITDA Exit Multiple	12
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Weighted Average [Member] | Financial Services
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	11.10%
Enterprise Value/LTM EBITDA Exit Multiple	10.4
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Weighted Average [Member] | Technology
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	12.10%
Enterprise Value/LTM EBITDA Exit Multiple	9
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Weighted Average [Member] | Health Care
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	11.70%
Enterprise Value/LTM EBITDA Exit Multiple	10.3
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Weighted Average [Member] | Retail
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	10.60%
Enterprise Value/LTM EBITDA Exit Multiple	8.1
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Weighted Average [Member] | Manufacturing
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	14.00%
Enterprise Value/LTM EBITDA Exit Multiple	9.6
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Private Equity | Weighted Average [Member] | Other
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	12.80%
Enterprise Value/LTM EBITDA Exit Multiple	9.9
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Real Assets | Minimum | Energy
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	8.90%
Average Price Per Barrel of Oil Equivalents (usd per barrel of oil equivalent)	25.46
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Real Assets | Minimum | Infrastructure
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	5.70%
Enterprise Value/LTM EBITDA Exit Multiple	7.8
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Real Assets | Minimum | Real Estate
Level III investments and other financial instruments by valuation methodologies
Unlevered Discount Rate (as a percent)	7.30%
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Real Assets | Maximum | Energy
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	17.60%
Average Price Per Barrel of Oil Equivalents (usd per barrel of oil equivalent)	33.97
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Real Assets | Maximum | Infrastructure
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	12.50%
Enterprise Value/LTM EBITDA Exit Multiple	10
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Real Assets | Maximum | Real Estate
Level III investments and other financial instruments by valuation methodologies
Unlevered Discount Rate (as a percent)	20.00%
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Real Assets | Weighted Average [Member] | Energy
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	12.60%
Average Price Per Barrel of Oil Equivalents (usd per barrel of oil equivalent)	30.5
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Real Assets | Weighted Average [Member] | Infrastructure
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital (as a percent)	7.80%
Enterprise Value/LTM EBITDA Exit Multiple	8.7
Significant Unobservable Inputs (Level III) | Discounted Cash Flows | Real Assets | Weighted Average [Member] | Real Estate
Level III investments and other financial instruments by valuation methodologies
Unlevered Discount Rate (as a percent)	9.70%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Minimum | Financial Services
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	10.00%
Weight Ascribed to Market Comparables (as a percent)	38.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	0.00%
Weight Ascribed to Transaction Price (as a percent)	0.00%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Minimum | Technology
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	0.00%
Weight Ascribed to Market Comparables (as a percent)	0.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	0.00%
Weight Ascribed to Transaction Price (as a percent)	0.00%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Minimum | Health Care
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	2.50%
Weight Ascribed to Market Comparables (as a percent)	0.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	12.50%
Weight Ascribed to Transaction Price (as a percent)	0.00%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Minimum | Retail
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	5.00%
Weight Ascribed to Market Comparables (as a percent)	0.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	37.50%
Weight Ascribed to Transaction Price (as a percent)	0.00%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Minimum | Other
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	5.00%
Weight Ascribed to Market Comparables (as a percent)	0.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	0.00%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Maximum | Financial Services
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	15.00%
Weight Ascribed to Market Comparables (as a percent)	100.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	50.00%
Weight Ascribed to Transaction Price (as a percent)	25.00%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Maximum | Technology
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	20.00%
Weight Ascribed to Market Comparables (as a percent)	100.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	50.00%
Weight Ascribed to Transaction Price (as a percent)	100.00%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Maximum | Health Care
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	15.00%
Weight Ascribed to Market Comparables (as a percent)	50.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	100.00%
Weight Ascribed to Transaction Price (as a percent)	75.00%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Maximum | Retail
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	20.00%
Weight Ascribed to Market Comparables (as a percent)	50.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	100.00%
Weight Ascribed to Transaction Price (as a percent)	25.00%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Maximum | Other
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	20.00%
Weight Ascribed to Market Comparables (as a percent)	100.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	100.00%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Weighted Average [Member] | Financial Services
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	10.20%
Weight Ascribed to Market Comparables (as a percent)	43.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	38.30%
Weight Ascribed to Transaction Price (as a percent)	18.70%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Weighted Average [Member] | Technology
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	7.30%
Weight Ascribed to Market Comparables (as a percent)	32.90%
Weight Ascribed to Discounted Cash Flow (as a percent)	32.80%
Weight Ascribed to Transaction Price (as a percent)	34.30%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Weighted Average [Member] | Health Care
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	6.10%
Weight Ascribed to Market Comparables (as a percent)	26.00%
Weight Ascribed to Discounted Cash Flow (as a percent)	35.70%
Weight Ascribed to Transaction Price (as a percent)	38.30%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Weighted Average [Member] | Retail
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	7.70%
Weight Ascribed to Market Comparables (as a percent)	44.50%
Weight Ascribed to Discounted Cash Flow (as a percent)	44.60%
Weight Ascribed to Transaction Price (as a percent)	10.90%
Significant Unobservable Inputs (Level III) | Company Comparables Discounted Cash Flow And Transaction Cost Method | Private Equity | Weighted Average [Member] | Other
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount (as a percent)	11.60%
Weight Ascribed to Market Comparables (as a percent)	47.30%
Weight Ascribed to Discounted Cash Flow (as a percent)	52.70%
Significant Unobservable Inputs (Level III) | Yield analysis | Credit | Minimum
Level III investments and other financial instruments by valuation methodologies
Yield (as a percent)	5.90%
Net Leverage	0.4
EBITDA Multiple	0.7
Significant Unobservable Inputs (Level III) | Yield analysis | Credit | Maximum
Level III investments and other financial instruments by valuation methodologies
Yield (as a percent)	22.40%
Net Leverage	12.6
EBITDA Multiple	14.9
Significant Unobservable Inputs (Level III) | Yield analysis | Credit | Weighted Average [Member]
Level III investments and other financial instruments by valuation methodologies
Yield (as a percent)	11.30%
Net Leverage	5.3
EBITDA Multiple	8
Significant Unobservable Inputs (Level III) | Dealer quotes or third party fund managers | Credit
Level III investments and other financial instruments by valuation methodologies
Fair Value	504,000,000

NET_INCOME_LOSS_ATTRIBUTABLE_T2

NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. L.P. PER COMMON UNIT (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. L.P. PER COMMON UNIT
Net Income (Loss) Attributable to KKR & Co. L.P.	$270,507	$210,041
Basic Net Income (Loss) Per Common Unit
Weighted Average Common Units Outstanding - Basic	434,874,820	293,490,461
Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Basic	$0.62	$0.72
Diluted Net Income (Loss) Per Common Unit
Weighted Average Common Units Outstanding - Basic	434,874,820	293,490,461
Weighted Average Unvested Common Units and Other Exchangeable Securities	37,350,524	31,613,768
Weighted Average Common Units Outstanding - Diluted	472,225,344	325,104,229
Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Diluted	$0.57	$0.65
Weighted Average KKR Holdings Units Outstanding	375,836,317	399,474,991

OTHER_ASSETS_AND_ACCOUNTS_PAYA2

OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Other Assets) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
Foreign Exchange Contracts and Options (a)	$871,040		$517,088
Interest, Dividend and Notes Receivable (b)	617,626		594,288
Due from Broker (c)	467,933		561,554
Oil & Gas Assets, net (d)	455,481		460,658
Unsettled Investment Sales (e)	291,983		176,622
Deferred Tax Assets, net	266,289		237,982
Intangible Assets, net (f)	196,688		209,202
Goodwill (f)	89,000		89,000
Fixed Assets, net (g)	75,492		76,247
Receivables	56,244		55,876
Deferred Financing Costs	50,732		46,058
Derivative Assets	16,249		11,897
Deferred Transaction Related Expenses	14,218		14,981
Prepaid Expenses	13,890		8,812
Prepaid Taxes	6,334		31,267
Other	21,725		72,685
Other Assets	3,510,924		3,164,217
Interest rate on promissory notes, low end of range (as a percent)	2.00%
Interest rate on promissory notes, high end of range (as a percent)	3.00%
Accumulated depreciation and amortization	126,823		122,908
Depreciation and amortization expense	$3,914	$4,047

Accounts_Payable_Accrued_Expen

(Accounts Payable, Accrued Expenses and Other Liabilities) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
Amounts Payable to Carry Pool	$1,154,424	$1,100,943
Unsettled Investment Purchases	679,747	891,649
Securities Sold Short	583,645	633,132
Due to Broker	249,990	72,509
Accounts Payable and Accrued Expenses	103,497	130,023
Foreign Exchange Contracts and Options	102,598	71,956
Derivative Liability	71,266	75,150
Accrued Compensation and Benefits	64,946	17,799
Interest Payable	63,399	61,643
Contingent Consideration Obligation	42,600	40,600
Deferred Rent and Income	24,433	26,894
Taxes Payable	9,067	6,362
Other Liabilities	120,508	70,692
Total	3,270,120	3,199,352
Securities sold, not yet purchased, cost basis	$556,782	$628,071

VARIABLE_INTEREST_ENTITIES_Max

VARIABLE INTEREST ENTITIES (Maximum Exposure to Loss) (Details) (Investments in Unconsolidated CLO Vehicles, USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Investments in Unconsolidated CLO Vehicles
Variable Interest Entity [Line Items]
Investments	$319,603	$375,061
Due from Affiliates, net	599	3,478
Maximum Exposure to Loss	$320,202	$378,539

VARIABLE_INTEREST_ENTITIES_Nar

VARIABLE INTEREST ENTITIES (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Investments in Unconsolidated Investment Funds
Variable Interest Entity [Line Items]
Investments	$318,500,000
Commitment to unconsolidated investment funds	11,600,000
Investments in Unconsolidated CLO Vehicles
Variable Interest Entity [Line Items]
Investments	319,603,000	375,061,000
Combined assets under management	2,100,000,000
Maximum exposure to loss as a result of investments in the residual interests	$1,100,000

DEBT_OBLIGATIONS_KKRs_Borrowin

DEBT OBLIGATIONS (KKR's Borrowings) (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 18, 2015
Debt Instrument [Line Items]
Financing Available	$4,451,109,000	$3,623,819,000
Borrowing Outstanding	11,717,676,000	10,837,784,000
Fair Value	11,868,563,000	11,020,732,000
Investment Financing Facilities
Debt Instrument [Line Items]
Financing Available	3,048,109,000	2,150,819,000
Borrowing Outstanding	1,808,781,000	1,047,351,000
Fair Value	1,808,781,000	1,047,351,000
Weighted average interest rate	2.50%	2.90%
Weighted average maturity period	2 years 7 months 6 days	2 years 10 months 24 days
Debt Obligations of Consolidated CLOs
Debt Instrument [Line Items]
Borrowing Outstanding	7,158,322,000	7,615,340,000
Fair Value	7,158,322,000	7,615,340,000
Revolving Credit Facility | Corporate Credit Agreement
Debt Instrument [Line Items]
Financing Available	1,000,000,000	1,000,000,000
Revolving Credit Facility | KCM Credit Agreement
Debt Instrument [Line Items]
Financing Available	403,000,000	473,000,000
Borrowing Outstanding	97,000,000	27,000,000
Fair Value	97,000,000	27,000,000
Senior Notes | 2020 Senior Notes
Debt Instrument [Line Items]
Borrowing Outstanding	498,856,000	498,804,000
Fair Value	587,000,000	583,692,000
Principal amount	6.38%	6.38%
Aggregate amount	500,000,000
Senior Notes | 2043 Senior Notes
Debt Instrument [Line Items]
Borrowing Outstanding	494,692,000	494,644,000
Fair Value	541,250,000	566,250,000
Principal amount	5.50%	5.50%
Aggregate amount	500,000,000
Senior Notes | 2044 Senior Notes
Debt Instrument [Line Items]
Borrowing Outstanding	998,553,000	493,214,000
Fair Value	1,039,000,000	539,797,000
Principal amount	5.13%	5.13%	5.13%
Aggregate amount	1,000,000,000		500,000,000
Senior Notes | 2041 Senior Notes
Debt Instrument [Line Items]
Borrowing Outstanding	290,567,000	290,861,000
Fair Value	289,947,000	287,359,000
Principal amount	8.38%	8.38%
Aggregate amount	259,000,000
Senior Notes | 2042 Senior Notes
Debt Instrument [Line Items]
Borrowing Outstanding	123,585,000	123,663,000
Fair Value	125,488,000	125,856,000
Principal amount	7.50%	7.50%
Aggregate amount	115,000,000
Senior Notes | Junior Subordinated Notes
Debt Instrument [Line Items]
Borrowing Outstanding	247,320,000	246,907,000
Fair Value	221,775,000	228,087,000
KFN | Junior Subordinated Notes
Debt Instrument [Line Items]
Aggregate amount	$284,000,000
Weighted average interest rate	5.40%
Weighted average maturity period	21 years 6 months

DEBT_OBLIGATIONS_Obligations_o

DEBT OBLIGATIONS (Obligations of Consolidated CLOs) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Borrowing Outstanding	11,717,676	$10,837,784
Debt Obligations of Consolidated CLOs
Debt Instrument [Line Items]
Borrowing Outstanding	7,158,322	7,615,340
Senior Secured Notes | Debt Obligations of Consolidated CLOs
Debt Instrument [Line Items]
Weighted Average Interest Rate	1.90%
Weighted Average Remaining Maturity in Years	8 years 6 months
Subordinated Notes | Debt Obligations of Consolidated CLOs
Debt Instrument [Line Items]
Weighted Average Remaining Maturity in Years	8 years 2 months 12 days
Significant Unobservable Inputs (Level III) | Debt Obligations of Consolidated CLOs
Debt Instrument [Line Items]
Borrowing Outstanding	7,158,322
Significant Unobservable Inputs (Level III) | Senior Secured Notes | Debt Obligations of Consolidated CLOs
Debt Instrument [Line Items]
Borrowing Outstanding	6,907,430
Significant Unobservable Inputs (Level III) | Subordinated Notes | Debt Obligations of Consolidated CLOs
Debt Instrument [Line Items]
Borrowing Outstanding	250,892

DEBT_OBLIGATIONS_Narrative_Det

DEBT OBLIGATIONS (Narrative) (Details) (USD $)	Mar. 31, 2015	Mar. 18, 2015	Dec. 31, 2014
Debt Obligations of Consolidated CLOs
Debt Instrument [Line Items]
Fair value of consolidated CLO assets	$9,100,000,000
Senior Notes | 2044 Senior Notes
Debt Instrument [Line Items]
Aggregate amount	$1,000,000,000	$500,000,000
Principal amount	5.13%	5.13%	5.13%
Debt Instrument Issuance as Percentage of Par Value		101.06%

INCOME_TAXES_Narrative_Details

INCOME TAXES (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	0.82%	1.07%
Unrecognized Tax Benefits, Period Increase (Decrease)	$0
Amount of change in unrecognized tax benefits that is reasonably possible	$0

EQUITY_BASED_COMPENSATION_Deta

EQUITY BASED COMPENSATION (Details) (Compensation and Benefits, USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Expense associated with equity based compensation
Equity based expenses	$76,550	$77,528
Equity Incentive Plan Units
Expense associated with equity based compensation
Equity based expenses	52,265	39,353
Principal's equity based awards
Expense associated with equity based compensation
Equity based expenses	2,518	10,222
Other Exchangeable Securities
Expense associated with equity based compensation
Equity based expenses	3,768	3,024
Restricted Equity Units
Expense associated with equity based compensation
Equity based expenses	128	110
Discretionary Compensation
Expense associated with equity based compensation
Equity based expenses	$17,871	$24,819

EQUITY_BASED_COMPENSATION_Deta1

EQUITY BASED COMPENSATION (Details 2) (USD $)	0 Months Ended	3 Months Ended
In Millions, except Share data, unless otherwise specified	Feb. 19, 2014	Mar. 31, 2015
Equity Incentive Plan Units
Equity Based Payments
Total awards issuable as a percentage of diluted common units outstanding		15.00%
Minimum transfer restriction period with respect to one-half awards vested		1 year
Minimum transfer restriction period with respect to remaining one-half awards vested		2 years
Minimum retained ownership required to continuously hold common unit equivalents to as percentage of cumulatively vested interests		15.00%
Maximum forfeiture rate assumed (as a percent)		8.00%
Weighted average remaining vesting period over which unvested units are expected to vest (in years)		1 year 4 months 24 days
Portion of awards vested having one-year transfer restriction period		0.5
Portion of awards vested having two-year transfer restriction period		0.5
Estimated unrecognized equity-based payment expense		$346.10
Units
Balance at the beginning of the period (in units)		20,488,737
Granted (in units)		14,902,386
Vested (in units)		0
Forfeited (in units)		-433,126
Balance at the end of the period (in units)		34,957,997
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per unit)		$12.33
Granted (in dollars per unit)		$16.98
Vested (in dollars per unit)		$0
Forfeited (in dollars per unit)		$12.96
Balance at the end of the period (in dollars per unit)		$14.30
Equity Incentive Plan Units | Remainder of 2015
Equity Based Payments
Estimated unrecognized equity-based payment expense		127.1
Equity Incentive Plan Units | 2016
Equity Based Payments
Estimated unrecognized equity-based payment expense		128.2
Equity Incentive Plan Units | 2017
Equity Based Payments
Estimated unrecognized equity-based payment expense		73.3
Equity Incentive Plan Units | 2018
Equity Based Payments
Estimated unrecognized equity-based payment expense		17.5
Equity Incentive Plan Units | Minimum
Equity Based Payments
Vesting period (in years)		3 years
Discount rate (as a percent)		8.00%
Equity Incentive Plan Units | Maximum
Equity Based Payments
Vesting period (in years)		5 years
Discount rate (as a percent)		56.00%
Principal's equity based awards
Units
Balance at the end of the period (in units)		4,687,963
Other Exchangeable Securities
Equity Based Payments
Vesting period (in years)		3 years
Maximum forfeiture rate assumed (as a percent)		8.00%
Weighted average remaining vesting period over which unvested units are expected to vest (in years)		1 year
Common units conversion basis		1
Estimated unrecognized equity-based payment expense		19.8
Units
Balance at the beginning of the period (in units)		1,695,972
Granted (in units)	2,545,602	0
Vested (in units)		0
Forfeited (in units)		0
Balance at the end of the period (in units)		1,695,972
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per unit)		$18.45
Granted (in dollars per unit)		$0
Vested (in dollars per unit)		$0
Forfeited (in dollars per unit)		$0
Balance at the end of the period (in dollars per unit)		$18.45
Other Exchangeable Securities | Remainder of 2015
Equity Based Payments
Estimated unrecognized equity-based payment expense		10.4
Other Exchangeable Securities | 2016
Equity Based Payments
Estimated unrecognized equity-based payment expense		9.4
Other Exchangeable Securities | Minimum
Equity Based Payments
Discount rate (as a percent)		8.00%
Other Exchangeable Securities | Maximum
Equity Based Payments
Discount rate (as a percent)		56.00%
Due to KKR Holdings in connection with the tax receivable agreement | Principal's equity based awards
Equity Based Payments
Minimum transfer restriction period with respect to one-half awards vested		1 year
Minimum transfer restriction period with respect to remaining one-half awards vested		2 years
Maximum forfeiture rate assumed (as a percent)		8.00%
Weighted average remaining vesting period over which unvested units are expected to vest (in years)		8 months 12 days
Common units conversion basis		1
Number of common units owned in KKR Group Partnership Units (in units)		372,661,977
Minimum retained ownership requirement (as a percent)		25.00%
Allocation of awards not communicated to principals (in units)		34,783,520
Portion of awards vested having one-year transfer restriction period		0.5
Portion of awards vested having two-year transfer restriction period		0.5
Estimated unrecognized equity-based payment expense		7.4
Units
Balance at the beginning of the period (in units)		4,708,434
Granted (in units)		74,247
Vested (in units)		0
Forfeited (in units)		-94,718
Balance at the end of the period (in units)		4,687,963
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per unit)		$8.44
Granted (in dollars per unit)		$16.64
Vested (in dollars per unit)		$0
Forfeited (in dollars per unit)		$7.39
Balance at the end of the period (in dollars per unit)		$8.59
Due to KKR Holdings in connection with the tax receivable agreement | Principal's equity based awards | Remainder of 2015
Equity Based Payments
Estimated unrecognized equity-based payment expense		4.9
Due to KKR Holdings in connection with the tax receivable agreement | Principal's equity based awards | 2016
Equity Based Payments
Estimated unrecognized equity-based payment expense		2.1
Due to KKR Holdings in connection with the tax receivable agreement | Principal's equity based awards | 2017
Equity Based Payments
Estimated unrecognized equity-based payment expense		$0.40
Due to KKR Holdings in connection with the tax receivable agreement | Principal's equity based awards | Minimum
Equity Based Payments
Vesting period (in years)		3 years
Discount rate (as a percent)		8.00%
Percentage of units vested on fulfillment of performance-based vesting conditions		0.00%
Due to KKR Holdings in connection with the tax receivable agreement | Principal's equity based awards | Maximum
Equity Based Payments
Vesting period (in years)		5 years
Discount rate (as a percent)		56.00%
Percentage of units vested on fulfillment of performance-based vesting conditions		100.00%
April 1, 2015 | Equity Incentive Plan Units
Units
Balance at the end of the period (in units)		5,297,636
April 1, 2015 | Principal's equity based awards
Units
Balance at the end of the period (in units)		1,153,193
October 1, 2015 | Equity Incentive Plan Units
Units
Balance at the end of the period (in units)		5,524,491
October 1, 2015 | Principal's equity based awards
Units
Balance at the end of the period (in units)		2,063,345
October 1, 2015 | Other Exchangeable Securities
Units
Balance at the end of the period (in units)		847,983
April 1, 2016 | Equity Incentive Plan Units
Units
Balance at the end of the period (in units)		7,633,135
April 1, 2016 | Principal's equity based awards
Units
Balance at the end of the period (in units)		122,697
October 1, 2016 | Equity Incentive Plan Units
Units
Balance at the end of the period (in units)		4,322,545
October 1, 2016 | Principal's equity based awards
Units
Balance at the end of the period (in units)		1,127,413
October 1, 2016 | Other Exchangeable Securities
Units
Balance at the end of the period (in units)		847,989
April 1, 2017 | Equity Incentive Plan Units
Units
Balance at the end of the period (in units)		5,647,312
April 1, 2017 | Principal's equity based awards
Units
Balance at the end of the period (in units)		70,271
October 1, 2017 | Equity Incentive Plan Units
Units
Balance at the end of the period (in units)		1,317,132
October 1, 2017 | Principal's equity based awards
Units
Balance at the end of the period (in units)		111,293
April 1, 2018 | Equity Incentive Plan Units
Units
Balance at the end of the period (in units)		4,235,867
April 1, 2018 | Principal's equity based awards
Units
Balance at the end of the period (in units)		39,751
October 1, 2018 | Equity Incentive Plan Units
Units
Balance at the end of the period (in units)		968,380
April 1, 2019 | Equity Incentive Plan Units
Units
Balance at the end of the period (in units)		6,947
October 1, 2019 | Equity Incentive Plan Units
Units
Balance at the end of the period (in units)		4,552
KKR Group Partnerships
Equity Based Payments
Percentage of economic interest held by parent entity		46.00%

EQUITY_BASED_COMPENSATION_Deta2

EQUITY BASED COMPENSATION (Details 3)	Mar. 31, 2015	Dec. 31, 2014
Equity Incentive Plan Units
Remaining vesting tranches for principals
Principal Units (in units)	34,957,997	20,488,737
Principal's equity based awards
Remaining vesting tranches for principals
Principal Units (in units)	4,687,963
Other Exchangeable Securities
Remaining vesting tranches for principals
Principal Units (in units)	1,695,972	1,695,972
April 1, 2015 | Equity Incentive Plan Units
Remaining vesting tranches for principals
Principal Units (in units)	5,297,636
April 1, 2015 | Principal's equity based awards
Remaining vesting tranches for principals
Principal Units (in units)	1,153,193
October 1, 2015 | Equity Incentive Plan Units
Remaining vesting tranches for principals
Principal Units (in units)	5,524,491
October 1, 2015 | Principal's equity based awards
Remaining vesting tranches for principals
Principal Units (in units)	2,063,345
October 1, 2015 | Other Exchangeable Securities
Remaining vesting tranches for principals
Principal Units (in units)	847,983
April 1, 2016 | Equity Incentive Plan Units
Remaining vesting tranches for principals
Principal Units (in units)	7,633,135
April 1, 2016 | Principal's equity based awards
Remaining vesting tranches for principals
Principal Units (in units)	122,697
October 1, 2016 | Equity Incentive Plan Units
Remaining vesting tranches for principals
Principal Units (in units)	4,322,545
October 1, 2016 | Principal's equity based awards
Remaining vesting tranches for principals
Principal Units (in units)	1,127,413
October 1, 2016 | Other Exchangeable Securities
Remaining vesting tranches for principals
Principal Units (in units)	847,989
April 1, 2017 | Equity Incentive Plan Units
Remaining vesting tranches for principals
Principal Units (in units)	5,647,312
April 1, 2017 | Principal's equity based awards
Remaining vesting tranches for principals
Principal Units (in units)	70,271
October 1, 2017 | Equity Incentive Plan Units
Remaining vesting tranches for principals
Principal Units (in units)	1,317,132
October 1, 2017 | Principal's equity based awards
Remaining vesting tranches for principals
Principal Units (in units)	111,293
April 1, 2018 | Equity Incentive Plan Units
Remaining vesting tranches for principals
Principal Units (in units)	4,235,867
April 1, 2018 | Principal's equity based awards
Remaining vesting tranches for principals
Principal Units (in units)	39,751
October 1, 2018 | Equity Incentive Plan Units
Remaining vesting tranches for principals
Principal Units (in units)	968,380

RELATED_PARTY_TRANSACTIONS_Sum

RELATED PARTY TRANSACTIONS (Summary of Due From and Due To Affiliates) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Related Party Transactions
Due from Affiliates	$109,346	$147,056
Due to Affiliates	141,649	131,548
Portfolio Companies
Related Party Transactions
Due from Affiliates	40,576	64,989
Unconsolidated Investment Funds
Related Party Transactions
Due from Affiliates	44,746	47,229
Related Entities
Related Party Transactions
Due from Affiliates	24,024	34,838
Due to Affiliates	13,381	9,745
KKR Holdings
Related Party Transactions
Due to Affiliates	$128,268	$121,803

SEGMENT_REPORTING_Financial_Da

SEGMENT REPORTING (Financial Data for KKR's Reportable Segments) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Management, Monitoring and Transaction Fees, Net
Fees and Other	$291,345	$302,926
Performance Income
Incentive Fees	5,639	17,106
Investment Income (Loss)
Total Investment Income (Loss)	2,182,835	2,196,113
Segment Expenses
Total Compensation and Benefits	364,999	331,038
Occupancy and Related Charges	15,732	15,408
Total Expenses	515,033	473,171
Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities and appropriated capital	1,431,561	1,482,674
Total Assets	67,286,990		65,872,745
Reportable segments
Management, Monitoring and Transaction Fees, Net
Management Fees	173,780	195,393
Monitoring Fees	97,838	36,363
Transaction Fees	103,286	163,516
Fee Credits	-80,494	-84,668
Fees and Other	294,410	310,604
Performance Income
Realized Carried Interest	302,425	193,550
Incentive Fees	5,665	17,019
Unrealized Carried Interest	139,284	145,647
Total Performance Income	447,374	356,216
Investment Income (Loss)
Net Realized Gains (Losses)	180,667	181,728
Net Unrealized Gains (Losses)	-10,721	85,759
Total Realized and Unrealized	169,946	267,487
Net Interest and Dividends	50,675	11,164
Total Investment Income (Loss)	220,621	278,651
Total Segment Revenues	962,405	945,471
Segment Expenses
Cash Compensation and Benefits	107,027	108,915
Realized Allocation to Carry Pool (2)	120,970	77,420
Unrealized Allocation to Carry Pool (2)	55,631	58,690
Total Compensation and Benefits	283,628	245,025
Occupancy and Related Charges	14,796	14,189
Other Operating Expenses	60,946	52,801
Total Expenses	359,370	312,015
Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities and appropriated capital	3,622	3,202
Economic Net Income (Loss)	599,413	630,254
Total Assets	13,925,186	9,492,268
Fee Credits as a percentage of monitoring and transaction fees net of fund-related expenses	80.00%	80.00%
Equity ownership in the business (as a percent)	1.00%	1.00%
Reportable segments | Private Markets
Management, Monitoring and Transaction Fees, Net
Management Fees	109,276	123,039
Monitoring Fees	97,838	36,363
Transaction Fees	46,599	93,020
Fee Credits	-69,906	-80,338
Fees and Other	183,807	172,084
Performance Income
Realized Carried Interest	302,425	168,800
Unrealized Carried Interest	126,937	145,776
Total Performance Income	429,362	314,576
Investment Income (Loss)
Net Realized Gains (Losses)	183,264	176,198
Net Unrealized Gains (Losses)	79,363	70,673
Total Realized and Unrealized	262,627	246,871
Net Interest and Dividends	-7,831	-2,808
Total Investment Income (Loss)	254,796	244,063
Total Segment Revenues	867,965	730,723
Segment Expenses
Cash Compensation and Benefits	73,967	66,898
Realized Allocation to Carry Pool (2)	120,970	67,520
Unrealized Allocation to Carry Pool (2)	50,693	58,743
Total Compensation and Benefits	245,630	193,161
Occupancy and Related Charges	11,016	11,560
Other Operating Expenses	42,116	40,059
Total Expenses	298,762	244,780
Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities and appropriated capital	719	515
Economic Net Income (Loss)	568,484	485,428
Total Assets	8,023,160	6,425,260
Reportable segments | Public Markets
Management, Monitoring and Transaction Fees, Net
Management Fees	64,504	72,354
Transaction Fees	13,430	6,022
Fee Credits	-10,588	-4,330
Fees and Other	67,346	74,046
Performance Income
Realized Carried Interest	0	24,750
Incentive Fees	5,665	17,019
Unrealized Carried Interest	12,347	-129
Total Performance Income	18,012	41,640
Investment Income (Loss)
Net Realized Gains (Losses)	684	5,479
Net Unrealized Gains (Losses)	-87,877	14,814
Total Realized and Unrealized	-87,193	20,293
Net Interest and Dividends	51,872	9,577
Total Investment Income (Loss)	-35,321	29,870
Total Segment Revenues	50,037	145,556
Segment Expenses
Cash Compensation and Benefits	24,005	26,745
Realized Allocation to Carry Pool (2)	0	9,900
Unrealized Allocation to Carry Pool (2)	4,938	-53
Total Compensation and Benefits	28,943	36,592
Occupancy and Related Charges	3,122	2,172
Other Operating Expenses	14,954	8,507
Total Expenses	47,019	47,271
Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities and appropriated capital	175	522
Economic Net Income (Loss)	2,843	97,763
Total Assets	4,560,080	1,633,796
Reportable segments | Capital Markets
Management, Monitoring and Transaction Fees, Net
Transaction Fees	43,257	64,474
Fees and Other	43,257	64,474
Investment Income (Loss)
Net Realized Gains (Losses)	-3,281	51
Net Unrealized Gains (Losses)	-2,207	272
Total Realized and Unrealized	-5,488	323
Net Interest and Dividends	6,634	4,395
Total Investment Income (Loss)	1,146	4,718
Total Segment Revenues	44,403	69,192
Segment Expenses
Cash Compensation and Benefits	9,055	15,272
Total Compensation and Benefits	9,055	15,272
Occupancy and Related Charges	658	457
Other Operating Expenses	3,876	4,235
Total Expenses	13,589	19,964
Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities and appropriated capital	2,728	2,165
Economic Net Income (Loss)	28,086	47,063
Total Assets	$1,341,946	$1,433,212

SEGMENT_REPORTING_Fees_Details

SEGMENT REPORTING (Fees) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Total investment income (loss)	$2,182,835	$2,196,113
Oil and Gas Revenue	24,944	17,781
Fees and Other	291,345	302,926
Reportable segments
Segment Reporting Information [Line Items]
Total Segment Revenues	962,405	945,471
Net realized and unrealized carried interest	-447,374	-356,216
Total investment income (loss)	220,621	278,651
Fees and Other	294,410	310,604
Adjustments
Segment Reporting Information [Line Items]
Management fees relating to consolidated funds and other entities	-125,575	-145,208
Fee credits relating to consolidated funds	72,949	80,092
Net realized and unrealized carried interest	-441,709	-339,197
Total investment income (loss)	-220,621	-278,651
Oil and Gas Revenue	24,944	17,781
Reimbursable expenses	9,778	15,986
Other	$9,174	$6,652

SEGMENT_REPORTING_Expenses_Det

SEGMENT REPORTING (Expenses) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Total Expenses	$515,033	$473,171
Reportable segments
Segment Reporting Information [Line Items]
Total Expenses	359,370	312,015
Adjustments
Segment Reporting Information [Line Items]
Equity based compensation	76,550	77,528
Reimbursable expenses	19,859	18,912
Operating expenses relating to consolidated funds and other entities	10,970	7,315
Expenses incurred by oil & gas producing entities	21,078	10,984
Intangible amortization, acquisition, litigation and certain non-recurring costs	15,471	23,303
Other	$11,735	$23,114

SEGMENT_REPORTING_Income_Loss_

SEGMENT REPORTING (Income (Loss) Before Taxes) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Income taxes	($16,138)	($21,702)
Equity based compensation	-76,550	-77,528
Net Income (Loss) Attributable to KKR & Co. L.P.	270,507	210,041
Net Income (Loss) Attributable to Noncontrolling Interests and Appropriated Capital	1,670,569	1,783,488
Net Income (Loss) Attributable to Redeemable Noncontrolling Interests	1,933	10,637
Income (loss) before taxes	1,959,147	2,025,868
Reportable segments
Segment Reporting Information [Line Items]
Economic net income	599,413	630,254
Adjustments
Segment Reporting Information [Line Items]
Income taxes	-16,138	-21,702
Amortization of intangibles and other, net	2,790	-20,169
Equity based compensation	-76,550	-77,528
Net income (loss) attributable to noncontrolling interests held by KKR Holdings (a)	-239,008	-300,814
Net Income (Loss) Attributable to KKR & Co. L.P.	$270,507	$210,041

SEGMENT_REPORTING_Narrative_De

SEGMENT REPORTING (Narrative) (Details)	3 Months Ended
	Mar. 31, 2015
	segment
Segment Reporting [Abstract]
Number of reportable segments	3

ACQUISITIONS_Details

ACQUISITIONS (Details) (USD $)	3 Months Ended		0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Apr. 30, 2014	Feb. 19, 2014	Dec. 31, 2014
Consideration:
Fair Value of Contingent Consideration	$42,600,000				$40,600,000
Fair Value of Assets Acquired and Liabilities Assumed:
Gain on acquisition	1,919,825,000	1,972,180,000
KFN
Consideration:
Estimated fair value of KKR common units issued			2,369,559,000
Number of KKR common units issued			104,340,028
KKR common unit price			$22.71
Fair Value of Assets Acquired and Liabilities Assumed:
Cash and cash equivalents			210,413,000
Cash and cash equivalents held at consolidated entities			614,929,000
Restricted cash and cash equivalents			35,038,000
Investments			1,235,813,000
Investments of consolidated CLOs			6,742,768,000
Other assets			642,721,000
Other assets of consolidated CLOs			133,036,000
Total assets			9,614,718,000
Debt obligations			724,509,000
Debt obligations of consolidated CLOs			5,663,666,000
Accounts payable, accrued expenses and other liabilities			118,427,000
Other liabilities of consolidated CLOs			344,660,000
Total liabilities			6,851,262,000
Noncontrolling interests			378,983,000
Fair value of Net Assets Acquired			2,384,473,000
Less: Fair value of consideration transferred			2,369,559,000
Gain on acquisition			14,914,000
Acquisition-related costs			8,300,000
KFN | KKR & Co. L.P.
Acquisitions
Amount of permanent equity capital to support the continued growth of business (over)			2,000,000,000
Avoca Capital and its affiliates
Consideration:
Estimated fair value of KKR common units issued				139,798,000
Equity interests acquired (as a percent)				100.00%
Assets under management				8,200,000,000
Initial cash consideration transferred				83,300,000
Securities transferred				56,500,000
Shares vested				2,400,000
Fair Value of Contingent Consideration				0
Fair Value of Assets Acquired and Liabilities Assumed:
Cash and cash equivalents				24,381,000
Investments				20,905,000
Investments of consolidated CLOs				1,226,174,000
Other assets				7,370,000
Other assets of consolidated CLOs				186,609,000
Intangible assets				65,880,000
Total assets				1,531,319,000
Liabilities				13,584,000
Debt obligations of consolidated CLOs				1,150,551,000
Other liabilities of consolidated CLOs				140,308,000
Total liabilities				1,304,443,000
Fair value of Net Assets Acquired				226,876,000
Less: Fair value of subordinated notes of consolidated CLOs held by KKR prior to acquisition (a)				74,029,000
Less: Fair value of consideration transferred				139,798,000
Gain on acquisition				13,049,000
Acquisition-related costs				$4,400,000

GOODWILL_AND_INTANGIBLE_ASSETS2

GOODWILL AND INTANGIBLE ASSETS (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying value of goodwill	$89,000	$89,000
Intangible Assets, Net consists of the following:
Finite-Lived Intangible Assets	284,766	284,766
Accumulated Amortization (includes foreign exchange)	-88,078	-75,564
Intangible Assets, Net	$196,688	$209,202

GOODWILL_AND_INTANGIBLE_ASSETS3

GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS - Change in Intangible Assets (Details) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Changes in Intangible Assets, Net consists of the following:
Balance, Beginning of Period	$209,202
Amortization Expense	-6,708
Foreign Exchange	-5,806
Balance, End of Period	$196,688

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	Mar. 31, 2015
Contingent Repayment Guarantees
Private equity fund carried interest amount subject to clawback provision assuming liquidation at fair value	$0
Private Equity Fund, Liquidation Value for Clawback Obligation	0
Clawback obligation amount if private equity vehicles liquidated at fair value	2,486,800,000
Percentage of net losses on investment required capital to be contributed by general partners	20.00%
Net loss sharing obligation at zero value	0
Contingent repayment obligation of the general partners if private equity vehicles liquidated at fair value	115,800,000
Clawback receivable maximum potential amount (up to)	223,600,000
Clawback receivable	184,700,000
Clawback obligations, amount due from noncontrolling interest holders	0
Private Equity
Investment Commitments
Unfunded commitments	1,192,500,000
Capital Market Investments
Investment Commitments
Unfunded commitments	374,600,000
Merchant Capital Solutions Llc
Investment Commitments
Unfunded commitments	128,600,000
Other Investment Commitments
Investment Commitments
Unfunded commitments	$157,200,000

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details 2) (USD $)

0 Months Ended

1 Months Ended

0 Months Ended

1 Months Ended

In Millions, unless otherwise specified

Jul. 18, 2011

23-May-11

Jun. 14, 2012

Jul. 11, 2011

Oct. 07, 2010

Aug. 18, 2010

Aug. 31, 2008

Dec. 31, 2007

Mar. 06, 2015

6-May-14

31-May-11

Mar. 31, 2015

claim

claim

transaction

transaction

transaction

transaction

defendant

defendant

claim

claim

claim

class

transaction

Loss Contingencies [Line Items]

Estimated aggregate amount of losses

$25

Pending Litigation [Member] | Class Action Complaint, Court of Chancery of the State of Delaware

Loss Contingencies [Line Items]

Loss Contingency, New Claims Filed, Number

2

Loss Contingency, Claims Consolidated, Number

2

Pending Litigation [Member] | Class Action Complaint, District of Massachusetts

Loss Contingencies [Line Items]

Loss Contingency, Number of Co-Defendants

16

15

Loss Contingency, Number of Transactions Challenged

10

10

8

8

9

Loss Contingency, Sub Classes of Plaintiffs

8

Loss Contingencies, Number of Transactions Challenged, Separate Claims

2

Settled Litigation [Member] | Class Action Complaint, Court of Chancery of the State of Delaware

Loss Contingencies [Line Items]

Loss Contingency, Pending Claims, Number

2

Loss Contingency, Claims Dismissed, Number

2

Settled Litigation [Member] | Class Action Complaint, Georgia Courts

Loss Contingencies [Line Items]

Loss Contingency, New Claims Filed, Number

2

REGULATORY_CAPITAL_REQUIREMENT1

REGULATORY CAPITAL REQUIREMENTS (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
	entity
REGULATORY CAPITAL REQUIREMENTS
Number of entities based in Mumbai subject to capital requirements of the RBI and SEBI	2
Cash restricted for payment of cash dividend and advances	$91.20

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (Subsequent event, USD $)	0 Months Ended
	Apr. 23, 2015
Subsequent event
Subsequent Events
Common unit distribution announced (in dollars per share)	$0.46