KKR & Co. (KKR) 10-K 23 Feb 18 2017 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2017	Feb. 21, 2018	Jun. 30, 2017
Document and Entity Information
Entity Registrant Name	KKR & Co. L.P.
Entity Central Index Key	1,404,912
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 8.6
Entity Common Stock, Shares Outstanding		486,800,395

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Assets
Cash and Cash Equivalents	$ 1,876,687	$ 2,508,902
Cash and Cash Equivalents Held at Consolidated Entities	1,802,372	1,624,758
Restricted Cash and Cash Equivalents	56,302	212,155
Investments	39,013,934	31,409,765
Due from Affiliates	554,349	250,452
Other Assets	2,531,075	2,996,865
Total Assets	45,834,719	39,002,897
Liabilities and Equity
Debt Obligations	21,193,859	18,544,075
Due to Affiliates	323,810	359,479
Accounts Payable, Accrued Expenses and Other Liabilities	3,654,250	2,981,260
Total Liabilities	25,171,919	21,884,814
Commitments and Contingencies
Redeemable Noncontrolling Interests	610,540	632,348
Equity
KKR & Co. L.P. Capital - Common Unitholders (486,174,736 and 452,380,335 common units issued and outstanding as of December 31, 2017 and 2016, respectively)	6,703,382	5,457,279
Total KKR & Co. L.P. Partners' Capital	7,185,936	5,939,833
Noncontrolling Interests	12,866,324	10,545,902
Total Equity	20,052,260	16,485,735
Total Liabilities and Equity	45,834,719	39,002,897
Consolidated VIEs
Assets
Cash and Cash Equivalents Held at Consolidated Entities	1,699,252	1,624,758
Restricted Cash and Cash Equivalents	21,255	181,882
Investments	24,982,170	22,930,238
Due from Affiliates	23,562	5,555
Other Assets	344,575	583,609
Total Assets	27,070,814	25,326,042
Liabilities and Equity
Debt Obligations	16,356,566	15,471,087
Accounts Payable, Accrued Expenses and Other Liabilities	1,167,154	1,038,835
Total Liabilities	17,523,720	16,509,922
Consolidated VIEs | Consolidated CFEs
Assets
Cash and Cash Equivalents Held at Consolidated Entities	1,467,829	1,158,641
Restricted Cash and Cash Equivalents	0	86,777
Investments	15,573,203	13,950,897
Due from Affiliates	0	0
Other Assets	176,572	153,283
Total Assets	17,217,604	15,349,598
Liabilities and Equity
Debt Obligations	15,586,216	13,858,288
Accounts Payable, Accrued Expenses and Other Liabilities	923,494	722,714
Total Liabilities	16,509,710	14,581,002
Consolidated VIEs | Consolidated KKR Funds and Other Entities
Assets
Cash and Cash Equivalents Held at Consolidated Entities	231,423	466,117
Restricted Cash and Cash Equivalents	21,255	95,105
Investments	9,408,967	8,979,341
Due from Affiliates	23,562	5,555
Other Assets	168,003	430,326
Total Assets	9,853,210	9,976,444
Liabilities and Equity
Debt Obligations	770,350	1,612,799
Accounts Payable, Accrued Expenses and Other Liabilities	243,660	316,121
Total Liabilities	1,014,010	1,928,920
Capital - Series A Preferred Units
Equity
Series A Preferred Units (13,800,000 units issued and outstanding as of December 31, 2017 and 2016), Series B Preferred Units (6,200,000 units issued and outstanding as of December 31, 2017 and 2016)	332,988	332,988
Capital - Series B Preferred Units
Equity
Series A Preferred Units (13,800,000 units issued and outstanding as of December 31, 2017 and 2016), Series B Preferred Units (6,200,000 units issued and outstanding as of December 31, 2017 and 2016)	$ 149,566	$ 149,566

CONSOLIDATED STATEMENTS OF FIN3

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Parenthetical) - shares	Dec. 31, 2017	Dec. 31, 2016
Common units issued (in units)	486,174,736	452,380,335
Common units outstanding (in units)	486,174,736	452,380,335
Capital - Series A Preferred Units
Preferred units issued (in units)	13,800,000	13,800,000
Preferred units outstanding (in units)	13,800,000	13,800,000
Capital - Series B Preferred Units
Preferred units issued (in units)	6,200,000	6,200,000
Preferred units outstanding (in units)	6,200,000	6,200,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenues
Fees and Other	$ 3,282,265	$ 1,908,093	$ 1,043,768
Expenses
Compensation and Benefits	1,695,490	1,063,813	1,180,591
Occupancy and Related Charges	58,722	64,622	65,683
General, Administrative and Other	582,480	567,039	624,951
Total Expenses	2,336,692	1,695,474	1,871,225
Investment Income (Loss)
Net Gains (Losses) from Investment Activities	1,203,159	342,897	4,672,627
Dividend Income	202,115	187,853	850,527
Interest Income	1,242,419	1,021,809	1,219,197
Interest Expense	(808,898)	(789,953)	(573,226)
Total Investment Income (Loss)	1,838,795	762,606	6,169,125
Income (Loss) Before Taxes	2,784,368	975,225	5,341,668
Income Taxes	224,326	24,561	66,636
Net Income (Loss)	2,560,042	950,664	5,275,032
Net Income (Loss) Attributable to Redeemable Noncontrolling Interests	73,972	(8,476)	(4,512)
Net Income (Loss) Attributable to Noncontrolling Interests	1,467,765	649,833	4,791,062
Net Income (Loss) Attributable to KKR & Co. L.P.	1,018,305	309,307	488,482
Plus: Preferred Distributions	33,364	22,235	0
Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders	$ 984,941	$ 287,072	$ 488,482
Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit
Basic (in dollars per unit)	$ 2.10	$ 0.64	$ 1.09
Diluted (in dollars per unit)	$ 1.95	$ 0.59	$ 1.01
Weighted Average Common Units Outstanding
Basic (in units)	468,282,642	448,905,126	448,884,185
Diluted (in units)	506,288,971	483,431,048	482,699,194
Capital - Series A Preferred Units
Investment Income (Loss)
Plus: Preferred Distributions	$ 23,288	$ 17,337	$ 0
Capital - Series B Preferred Units
Investment Income (Loss)
Plus: Preferred Distributions	$ 10,076	$ 4,898	$ 0

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 2,560,042	$ 950,664	$ 5,275,032
Other Comprehensive Income (Loss), Net of Tax:
Foreign Currency Translation Adjustments	54,654	(34,583)	(27,176)
Comprehensive Income (Loss)	2,614,696	916,081	5,247,856
Less: Comprehensive Income (Loss) Attributable to Redeemable Noncontrolling Interests	73,972	(8,476)	(4,512)
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests	1,498,861	634,813	4,771,152
Comprehensive Income (Loss) Attributable to KKR & Co. L.P.	$ 1,041,863	$ 289,744	$ 481,216

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	Common Units	Capital - Common Unitholders	Accumulated Other Comprehensive Income (Loss)	Total Capital - Common Units	Capital - Series A Preferred Units	Capital - Series B Preferred Units	Noncontrolling Interests	Appropriated Capital
Balance at Dec. 31, 2014	$ 51,403,963		$ 5,403,095	$ (20,404)	$ 5,382,691	$ 0	$ 0	$ 46,004,377	$ 16,895
Balance (in units) at Dec. 31, 2014		433,330,540
Increase (Decrease) in Partners' Capital
Net Income (Loss)	5,279,544		488,482		488,482			4,791,062
Other Comprehensive Income (Loss)- Foreign Currency Translation (Net of Tax)	$ (27,176)			(7,266)	(7,266)			(19,910)
Exchange of KKR Holdings L.P. Units and Other Securities to KKR & Co. L.P. Common Units			207,114	(1,483)	205,631			(205,631)
Exchange of KKR Holdings L.P. Units and Other Securities to KKR & Co. L.P. Common Units (in units)	15,850,161	16,095,538
Tax Effects Resulting from Exchange of KKR Holdings L.P. Units and delivery of KKR & Co. L.P. Common Units and Other	$ 18,598		18,244	354	18,598
Net Delivery of Common Units - Equity Incentive Plan	15,245		15,245		15,245
Net Delivery of Common Units - Equity Incentive Plan (in units)		10,964,144
Equity Based Compensation	261,579		186,346		186,346			75,233
Unit Repurchases	(161,929)		(161,929)		(161,929)
Unit Repurchases (in units)		(9,919,892)
Common Units Issued in Connection with the Purchase of an Investment	126,302		126,302		126,302
Common Units Issued in Connection with the Purchase of an Investment (in units)		7,364,545
Capital Contributions	6,274,296							6,274,296
Capital Distributions	(13,894,264)		(706,611)		(706,611)			(13,187,653)
Balance at Dec. 31, 2015	49,278,956		5,575,981	(28,799)	5,547,182	0	0	43,731,774
Balance (in units) at Dec. 31, 2015		457,834,875
Balance at Dec. 31, 2014	300,098
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income (Loss)	(4,512)
Capital Contributions	193,269
Capital Distributions	(300,226)
Balance at Dec. 31, 2015	188,629
Increase (Decrease) in Partners' Capital
Cumulative-effect adjustment from adoption of accounting policies	(17,202)		(307)		(307)				$ (16,895)
Net Income (Loss)	959,140		287,072		287,072	17,337	4,898	649,833
Other Comprehensive Income (Loss)- Foreign Currency Translation (Net of Tax)	$ (34,583)			(19,563)	(19,563)			(15,020)
Exchange of KKR Holdings L.P. Units and Other Securities to KKR & Co. L.P. Common Units			91,357	(830)	90,527			(90,527)
Exchange of KKR Holdings L.P. Units and Other Securities to KKR & Co. L.P. Common Units (in units)	7,589,190	7,627,578
Tax Effects Resulting from Exchange of KKR Holdings L.P. Units and delivery of KKR & Co. L.P. Common Units and Other	$ (1,399)		(1,495)	96	(1,399)
Net Delivery of Common Units - Equity Incentive Plan	(50,515)		(50,515)		(50,515)
Net Delivery of Common Units - Equity Incentive Plan (in units)		8,672,152
Equity Based Compensation	264,890		186,227		186,227			78,663
Unit Repurchases	(296,844)		(296,844)		(296,844)
Unit Repurchases (in units)		(21,754,270)
Capital Contributions	2,525,635							2,525,635
Capital Distributions	(2,401,859)		(285,408)		(285,408)	(17,337)	(4,898)	(2,094,216)
Changes in Consolidation	(34,240,240)
Common Units Issued in Connection with the Purchase of an Investment	482,554					332,988	149,566
Balance at Dec. 31, 2016	16,485,735		5,506,375	(49,096)	5,457,279	332,988	149,566	10,545,902
Balance (in units) at Dec. 31, 2016		452,380,335
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income (Loss)	(8,476)
Capital Contributions	479,031
Capital Distributions	(26,836)
Balance at Dec. 31, 2016	632,348
Increase (Decrease) in Partners' Capital
Cumulative-effect adjustment from adoption of accounting policies	0
Net Income (Loss)	2,486,070		984,941		984,941	23,288	10,076	1,467,765
Other Comprehensive Income (Loss)- Foreign Currency Translation (Net of Tax)	$ 54,654			23,558	23,558			31,096
Exchange of KKR Holdings L.P. Units and Other Securities to KKR & Co. L.P. Common Units			291,040	(1,979)	289,061			(289,061)
Exchange of KKR Holdings L.P. Units and Other Securities to KKR & Co. L.P. Common Units (in units)	17,786,064	20,086,963
Tax Effects Resulting from Exchange of KKR Holdings L.P. Units and delivery of KKR & Co. L.P. Common Units and Other	$ (2,792)		(3,469)	677	(2,792)
Net Delivery of Common Units - Equity Incentive Plan	(58,679)		(58,679)		(58,679)
Net Delivery of Common Units - Equity Incentive Plan (in units)		8,979,472
Equity Based Compensation	346,035		204,308		204,308			141,727
Common Units Issued in Connection with the Purchase of an Investment	94,181		94,181		94,181
Common Units Issued in Connection with the Purchase of an Investment (in units)		4,727,966
Capital Contributions	3,119,917							3,119,917
Capital Distributions	(2,471,179)		(311,973)		(311,973)	(23,288)	(10,076)	(2,125,842)
Changes in Consolidation	(1,682)							(1,682)
Transfer of interests under common control and Other (See Note 15 Equity)	0		16,139	7,359	23,498			(23,498)
Balance at Dec. 31, 2017	20,052,260		$ 6,722,863	$ (19,481)	$ 6,703,382	$ 332,988	$ 149,566	$ 12,866,324
Balance (in units) at Dec. 31, 2017		486,174,736
Increase (Decrease) in Temporary Equity [Roll Forward]
Net Income (Loss)	73,972
Changes in Consolidation	(315,057)
Capital Contributions	220,167
Capital Distributions	(890)
Balance at Dec. 31, 2017	610,540
Increase (Decrease) in Partners' Capital
Cumulative-effect adjustment from adoption of accounting policies	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Operating Activities
Net Income (Loss)	$ 2,560,042	$ 950,664	$ 5,275,032
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided (Used) by Operating Activities:
Equity Based Compensation	334,820	264,890	261,579
Net Realized (Gains) Losses on Investments	(38,316)	(347,097)	(3,001,884)
Change in Unrealized (Gains) Losses on Investments	(1,164,843)	4,200	(1,670,743)
Carried Interest Allocated as a result of Changes in Fund Fair Value	(1,740,661)	(803,185)	0
Other Non-Cash Amounts	(51,286)	(34,620)	(78,522)
Cash Flows Due to Changes in Operating Assets and Liabilities:
Change in Cash and Cash Equivalents Held at Consolidated Entities	(95,875)	(435,417)	(160,092)
Change in Due from / to Affiliates	(285,562)	(79,372)	15,264
Change in Other Assets	86,545	(555,666)	605,305
Change in Accounts Payable, Accrued Expenses and Other Liabilities	1,581,967	648,737	(187,661)
Investments Purchased	(39,616,120)	(20,824,349)	(27,936,898)
Proceeds from Investments	34,799,260	19,649,033	27,264,024
Net Cash Provided (Used) by Operating Activities	(3,630,029)	(1,562,182)	385,404
Investing Activities
Change in Restricted Cash and Cash Equivalents	155,853	1,409	(164,637)
Purchase of Fixed Assets	(97,070)	(62,663)	(169,419)
Development of Oil and Natural Gas Properties	(1,052)	(2,122)	(95,959)
Proceeds from Sale of Oil and Natural Gas Properties	0	858	4,863
Net Cash Provided (Used) by Investing Activities	57,731	(62,518)	(425,152)
Financing Activities
Distributions to Partners	(311,973)	(285,408)	(706,611)
Distributions to Redeemable Noncontrolling Interests	(890)	(26,836)	(300,226)
Contributions from Redeemable Noncontrolling Interests	220,167	479,031	193,269
Distributions to Noncontrolling Interests	(2,125,842)	(2,086,577)	(13,187,653)
Contributions from Noncontrolling Interests	3,116,722	2,496,352	6,274,296
Issuance of Preferred Units (net of issuance costs)	0	482,554	0
Preferred Unit Distributions	(33,364)	(22,235)	0
Net Delivery of Common Units - Equity Incentive Plan	(58,679)	(50,515)	15,245
Unit Repurchases	0	(296,844)	(161,929)
Proceeds from Debt Obligations	11,657,948	7,895,320	14,014,510
Repayment of Debt Obligations	(9,514,558)	(5,482,133)	(5,926,162)
Financing Costs Paid	(9,448)	(16,847)	(45,331)
Net Cash Provided (Used) by Financing Activities	2,940,083	3,085,862	169,408
Net Increase/(Decrease) in Cash and Cash Equivalents	(632,215)	1,461,162	129,660
Cash and Cash Equivalents, Beginning of Period	2,508,902	1,047,740	918,080
Cash and Cash Equivalents, End of Period	1,876,687	2,508,902	1,047,740
Supplemental Disclosures of Cash Flow Information
Payments for Interest	773,882	773,032	485,739
Payments for Income Taxes	55,216	33,526	40,468
Supplemental Disclosures of Non-Cash Investing and Financing Activities
Non-Cash Contributions of Equity Based Compensation	346,035	264,890	261,579
Non-Cash Contributions from Noncontrolling Interests	3,195	29,283	0
Non-Cash Distributions to Noncontrolling Interests	0	(7,639)	0
Cumulative effect adjustment from adoption of accounting guidance	0	0	(17,202)
Debt Obligations - Net Gains (Losses), Translation and Other	(512,745)	228,405	226,577
Tax Effects Resulting from Exchange of KKR Holdings L.P. Units and delivery of KKR & Co. L.P. Common Units	(2,792)	(1,399)	18,598
Impairments of Oil and Natural Gas Properties	0	6,191	53,926
Gains on Sales of Oil and Natural Gas Properties	0	12,286	0
Changes in Consolidation and Other
Cash and Cash Equivalents Held at Consolidated Entities	1,831	(270,458)	0
Restricted Cash and Cash Equivalents	0	(54,064)	0
Investments	(75,827)	(35,686,489)	0
Due From Affiliates	15,379	147,427	0
Other Assets	(298,097)	(532,226)	0
Debt Obligations	46,809	(2,355,305)	0
Due to Affiliates	5,021	329,083	0
Accounts Payable, Accrued Expenses and Other Liabilities	(114,309)	(129,348)	0
Noncontrolling Interests	(1,682)	(34,240,240)	0
Redeemable Noncontrolling Interests	$ (315,057)	$ 0	$ 0

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION KKR & Co. L.P. (NYSE: KKR), together with its consolidated subsidiaries ("KKR"), is a leading global investment firm that manages multiple alternative asset classes including private equity, energy, infrastructure, real estate and credit, with strategic manager partnerships that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR's portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities 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 December 31, 2017 , KKR & Co. L.P. held approximately 59.1% of the KKR Group Partnership Units and principals through KKR Holdings held approximately 40.9% 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 or repurchases KKR & Co. L.P. common units. The KKR Group Partnerships also have outstanding equity interests that provide for the carry pool and preferred units with economic terms that mirror the preferred units issued by KKR & Co. L.P. PAAMCO Prisma On June 1, 2017, KKR completed its previously announced transaction to combine Pacific Alternative Asset Management Company, LLC ("PAAMCO") and Prisma Capital Partners LP ("Prisma"), formerly known as KKR Prisma or KKR's hedge fund solutions platform, to create PAAMCO Prisma Holdings, LLC ("PAAMCO Prisma"). PAAMCO Prisma is a leading liquid alternatives investment firm, which operates independently from KKR. In connection with this transaction, KKR contributed $114.1 million of net assets, including intangible assets and an allocation of goodwill, in exchange for a 39.9% equity interest in PAAMCO Prisma and the right to receive certain payments from PAAMCO Prisma, the collective fair value of which was $131.6 million . KKR reports its investment in PAAMCO Prisma using the equity method of accounting. See Note 16 "Goodwill and Intangible Assets." The following table presents the effect of changes in the ownership interest in the KKR Group Partnerships on KKR: For the Years Ended December 31, 2017 2016 2015 Net income (loss) attributable to KKR & Co. L.P. $ 1,018,305 $ 309,307 $ 488,482 Transfers from noncontrolling interests: Exchange of KKR Group Partnership units held by KKR Holdings L.P. (1) 247,946 90,910 212,043 Change from net income (loss) attributable to KKR & Co. L.P. and transfers from noncontrolling interests held by KKR Holdings $ 1,266,251 $ 400,217 $ 700,525 (1) Increase in KKR's partners' capital for exchange of 17,786,064 , 7,589,190 and 15,850,161 for the years ended December 31, 2017, 2016, and 2015, respectively, KKR Group Partnerships units held by KKR Holdings L.P., inclusive of deferred taxes.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying consolidated financial statements (referred to hereafter as the "financial statements") have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). 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 investment funds, general partners of consolidated investment funds and their respective consolidated investment funds and certain other entities including CFEs. 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. All intercompany transactions and balances have been eliminated. 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) CFEs 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 assessed for consolidation as voting interest entities ("VOEs") under the voting interest model. 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." 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 the 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. Limited partnerships and other similar entities where unaffiliated limited partners have not been granted (i) substantive participatory rights or (ii) substantive rights to either dissolve the partnership or remove the general partner ("kick-out rights") are VIEs under condition (b) above. KKR's investment funds that are not CFEs (i) are generally limited partnerships, (ii) generally provide KKR with operational discretion and control, and (iii) generally have fund investors with no substantive rights to impact ongoing governance and operating activities of the fund, including the ability to remove the general partner, and as such the limited partners do not hold kick-out rights. Accordingly, most of KKR's investment funds are categorized as VIEs. KKR consolidates all VIEs in which it is the primary beneficiary. A reporting entity is determined to be the primary beneficiary if it holds a controlling financial interest in a VIE. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The consolidation guidance requires an analysis to determine (i) whether an entity in which KKR holds a variable interest is a VIE and (ii) whether KKR's involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (for example, management and performance related fees), would give it a controlling financial interest. Performance of that analysis requires the exercise of judgment. Fees earned by KKR that are customary and commensurate with the level of effort required to provide those services, and where KKR does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered variable interests. KKR factors in all economic interests including interests held through related parties, to determine if it holds a variable interest. KKR determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion periodically. For entities that are determined not to be VIEs, these entities are generally considered VOEs and are evaluated under the voting interest model. KKR consolidates VOEs it controls through a majority voting interest or through other means. 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 CLOs (which are generally VIEs), in its role as collateral manager, KKR generally has the power to direct the activities of the CLO that most significantly impact the economic performance of the entity. In some, but not all cases, KKR, through its residual interest in the CLO 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 the power to direct the activities of the CLO that most significantly impact the CLO's economic performance and 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 is deemed to be the primary beneficiary and consolidates the CLO. With respect to CMBS vehicles (which are generally VIEs), KKR holds unrated and non-investment grade rated securities issued by the CMBS, which are the most subordinate tranche of the CMBS vehicle. The economic performance of the CMBS is most significantly impacted by the performance of the underlying assets. Thus, the activities that most significantly impact the CMBS economic performance are the activities that most significantly impact the performance of the underlying assets. The special servicer has the ability to manage the CMBS assets that are delinquent or in default to improve the economic performance of the CMBS. KKR generally has the right to unilaterally appoint and remove the special servicer for the CMBS and as such is considered the controlling class of the CMBS vehicle. These rights give KKR the ability to direct the activities that most significantly impact the economic performance of the CMBS. Additionally, as the holder of the most subordinate tranche, KKR is in a first loss position and has the right to receive benefits, including the actual residual returns of the CMBS, if any. In these cases, KKR is deemed to be the primary beneficiary and consolidates the CMBS. Redeemable Noncontrolling Interests Redeemable Noncontrolling Interests represent noncontrolling interests of certain investment funds and vehicles 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 consolidated statements of financial condition and presented as Net Income (Loss) Attributable to Redeemable Noncontrolling Interests in the accompanying 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 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 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 entitled to up to 1% of the carried interest received by certain general partners of KKR's funds and 1% of KKR's other profits (losses) through and including December 31, 2015; (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 Capital ("Avoca"); and (vii) holders of the 7.375% Series A LLC Preferred Shares of KKR Financial Holdings LLC ("KFN") whose rights are limited to the assets of KFN. See Note 20 "Subsequent Events." 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 & Co. L.P. and are borne by KKR Holdings. The following table presents the calculation of noncontrolling interests held by KKR Holdings: For the Years Ended December 31, 2017 2016 2015 Balance at the beginning of the period $ 4,293,337 $ 4,347,153 $ 4,661,679 Net income (loss) attributable to noncontrolling interests held by KKR Holdings (1) 791,021 212,878 433,693 Other comprehensive income (loss), net of tax (2) 21,904 (10,514 ) (14,030 ) Impact of the exchange of KKR Holdings units to KKR & Co. L.P. common units (3) (238,941 ) (89,182 ) (203,127 ) Equity based compensation 141,727 66,572 59,114 Capital contributions 3,028 241,748 25,573 Capital distributions (235,610 ) (475,318 ) (615,749 ) Transfer of interests under common control and Other (See Note 15 "Equity") 17,009 — — Balance at the end of the period $ 4,793,475 $ 4,293,337 $ 4,347,153 (1) Refer to the table below for calculation of net income (loss) attributable to noncontrolling interests held by KKR Holdings. (2) Calculated on a pro rata basis based on the weighted average KKR Group Partnership Units held by KKR Holdings during the reporting period. (3) 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 holds 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 Incentive Plan ("Equity Incentive Plan"), equity allocations shown in the 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: For the Years Ended December 31, 2017 2016 2015 Net income (loss) $ 2,560,042 $ 950,664 $ 5,275,032 Less: Net income (loss) attributable to Redeemable Noncontrolling Interests 73,972 (8,476 ) (4,512 ) Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities 676,744 436,955 4,357,369 Less: Net income (loss) attributable to Series A and Series B Preferred Unitholders 33,364 22,235 — Plus: Income tax / (benefit) attributable to KKR Management Holdings Corp. 150,812 (18,937 ) 21,241 Less: Gain from remeasurement of tax receivable agreement liability attributable to KKR Management Holdings Corp. (1) 67,221 — — Net income (loss) attributable to KKR & Co. L.P. Common Unitholders and KKR Holdings $ 1,859,553 $ 481,013 $ 943,416 Net income (loss) attributable to Noncontrolling Interests held by KKR Holdings $ 791,021 $ 212,878 $ 433,693 (1) Represents the impacts of the remeasurement of the tax receivable agreement which arises from changes in the associated deferred tax balance, including the impacts related to the Tax Cuts & Jobs Act enacted on December 22, 2017 (the "2017 Tax Act"). Investments Investments consist primarily of private equity, real assets, credit, investments of consolidated CFEs, equity method, carried interest and other investments. Investments denominated in currencies other than the entity's functional currency 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 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, including growth equity investments. Real Assets - Consists primarily of investments in (i) energy related assets, principally oil and natural gas producing properties, (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 CFEs - Consists primarily of (i) investments in below investment grade corporate debt securities (primarily high yield bonds and syndicated bank loans) held directly by the consolidated CLOs and (ii) investments in originated, fixed-rate mortgage loans held directly by the consolidated CMBS vehicles. Equity Method - Consists primarily of (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 GAAP. Carried Interest - Consists of carried interest from unconsolidated investment funds that are allocated to KKR as the general partner of the investment fund based on cumulative fund performance to date, and where applicable, subject to a preferred return. Other - Consists primarily of investments in common stock, preferred stock, warrants and options of companies that are not private equity, real assets, credit or investments of consolidated CFEs. Investments held by Consolidated Investment Funds The consolidated investment funds are, for GAAP purposes, investment companies and reflect their investments and other financial instruments, including portfolio companies that are majority-owned and controlled by KKR's investment funds, at fair value. KKR has retained this specialized accounting for the consolidated funds in consolidation. Accordingly, the unrealized gains and losses resulting from changes in fair value of the investments and other financial instruments held by the consolidated investment funds are reflected as a component of Net Gains (Losses) from Investment Activities in the consolidated statements of operations. Certain energy investments are made through consolidated investment funds, including investments in working and royalty interests in oil and natural gas producing properties as well as investments in operating companies that operate in the energy industry. Since these investments are held through consolidated investment funds, such investments are reflected at fair value as of the end of the reporting period. Investments in operating companies that are held through KKR's consolidated investment funds are generally classified within private equity investments and investments in working and royalty interests in oil and natural gas producing properties are generally classified as real asset investments. Energy Investments held directly by KKR Certain energy investments are made by KKR directly in working and royalty interests in oil and natural gas producing properties and not through investment funds. Oil and natural gas producing activities are accounted for under the successful efforts method of accounting and such working interests are consolidated based on the proportion of the working interests held by KKR. Accordingly, KKR reflects its proportionate share of the underlying statements of financial condition and statements of operations of the consolidated working interests on a gross basis and changes in the value of these working interests are not reflected as unrealized gains and losses in the consolidated statements of operations. Under the successful efforts 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 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. Any impairment in value is recognized when incurred and is recorded in General, Administrative, and Other expense in the consolidated statements of operations. Fair Value Option For certain investments and other financial instruments, KKR has elected the fair value option. Such election is irrevocable and is applied on a financial instrument by financial instrument basis at initial recognition. KKR has elected the fair value option for certain private equity, real assets, credit, investments of consolidated CFEs, equity method and other financial instruments not held through a consolidated investment fund. Accounting for these investments at fair value is consistent with how KKR accounts for its investments held through consolidated investment funds. Changes in the fair value of such instruments are recognized in Net Gains (Losses) from Investment Activities in the consolidated statements of operations. Interest income on interest bearing credit securities on which the fair value option has been elected is based on stated coupon rates adjusted for the accretion of purchase discounts and the amortization of purchase premiums. This interest income is recorded within Interest Income in the consolidated statements of operations. Equity Method For certain investments in entities over which KKR exercises significant influence but which do not meet the requirements for consolidation and for which KKR has not elected the fair value option, KKR uses the equity method of accounting. KKR's share of earnings (losses) from these investments is reflected as a component of Net Gains (Losses) from Investment Activities in the consolidated statements of operations. For equity method investments, KKR records its proportionate share of the investee's earnings or losses based on the most recently available financial information of the investee, which in certain cases may lag the date of KKR's financial statements by no more than three calendar months. As of December 31, 2017 , equity method investees for which KKR reports financial results on a quarter lag include Marshall Wace LLP ("Marshall Wace"). KKR evaluates its equity method investments for which KKR has not elected the fair value option for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. The carrying value of equity method investments in private equity funds, real assets funds and credit funds, which are not consolidated, approximate fair value, because the underlying investments of the unconsolidated investment funds are reported at fair value. The carrying value of equity method investments in certain operating companies, with respect to which KKR is determined to exert significant influence under GAAP and for which KKR has not elected the fair value option, 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. Financial Instruments held by Consolidated CFEs KKR measures both the financial assets and financial liabilities of the consolidated CFEs in its financial statements using the more observable of the fair value of the financial assets and the fair value of the financial liabilities which results in KKR's consolidated net income (loss) reflecting KKR's own economic interests in the consolidated CFEs including (i) changes in the fair value of the beneficial interests retained by KKR and (ii) beneficial interests that represent compensation for services rendered. For the consolidated CLO entities, KKR has determined that the fair value of the financial assets of the consolidated CLOs is more observable than the fair value of the financial liabilities of the consolidated CLOs. 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 KKR (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). For the consolidated CMBS vehicles, KKR has determined that the fair value of the financial liabilities of the consolidated CMBS vehicles is more observable than the fair value of the financial assets of the consolidated CMBS vehicles. As a result, the financial liabilities of the consolidated CMBS vehicles are being measured at fair value and the financial assets are being measured in consolidation as: (1) the sum of the fair value of the financial liabilities (other than the beneficial interests retained by KKR), the fair value of the beneficial interests retained by KKR and the carrying value of any nonfinancial liabilities that are incidental to the operations of the CMBS vehicles less (2) the carrying value of any nonfinancial assets that are incidental to the operations of the CMBS vehicles. The resulting amount is allocated to the individual financial assets. Fair Value Measurements 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. Except for certain of KKR's equity method investments (see "Equity Method" above in this Note 2 "Summary of Significant Accounting Policies") and debt obligations (as described in Note 10 "Debt Obligations"), KKR's investments and other financial instruments are recorded at fair value or at amounts whose carrying values approximate fair value. 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. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments and financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: Level I - Pricing inputs are unadjusted, quoted prices in active markets for identical assets or liabilities as of the measurement date. The types of financial instruments included in this category are publicly-listed equities and securities sold short. Level II - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the measurement date, and fair value is determined through the use of models or other valuation methodologies. The types of financial instruments included in this category are credit investments, investments and debt obligations of consolidated CLO entities, 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 - Pricing inputs are unobservable for the financial instruments and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. The types of financial instruments generally included in this category are private portfolio companies, real assets investments, credit investments, equity method investments for which the fair value option was elected and investments and debt obligations of consolidated CMBS entities. 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 methodologies and

NET GAINS (LOSSES) FROM INVESTM

NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES	12 Months Ended
	Dec. 31, 2017
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 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 tables summarize total Net Gains (Losses) from Investment Activities for the years ended December 31, 2017 , 2016 and 2015, respectively: For the Year Ended December 31, 2017 Net Realized Net Unrealized Total Private Equity (1) $ 223,568 $ 338,720 $ 562,288 Credit, Equity Method and Other (1) (1,232,645 ) 860,102 (372,543 ) Investments of Consolidated CFEs (1) (97,129 ) 352 (96,777 ) Real Assets (1) (18,722 ) 218,728 200,006 Foreign Exchange Forward Contracts and Options (2) (31,772 ) (342,849 ) (374,621 ) Securities Sold Short (2) 1,116,325 97,811 1,214,136 Other Derivatives (2) (7,129 ) (23,687 ) (30,816 ) Debt Obligations and Other (3) 85,820 15,666 101,486 Net Gains (Losses) From Investment Activities $ 38,316 $ 1,164,843 $ 1,203,159 For the Year Ended December 31, 2016 Net Realized Net Unrealized Total Private Equity (1) $ 306,180 $ (196,892 ) $ 109,288 Credit, Equity Method and Other (1) (825,822 ) 4,280 (821,542 ) Investments of Consolidated CFEs (1) (258,430 ) 444,142 185,712 Real Assets (1) 87,512 141,886 229,398 Foreign Exchange Forward Contracts and Options (2) 108,404 (7,986 ) 100,418 Securities Sold Short (2) 594,743 (90,607 ) 504,136 Other Derivatives (2) (49,712 ) 70,534 20,822 Debt Obligations and Other (3) 384,222 (369,557 ) 14,665 Net Gains (Losses) From Investment Activities $ 347,097 $ (4,200 ) $ 342,897 For the Year Ended December 31, 2015 Net Realized Net Unrealized Total Private Equity (1) $ 4,452,593 $ 1,140,377 $ 5,592,970 Credit, Equity Method and Other (1) 138,915 (800,027 ) (661,112 ) Investments of Consolidated CFEs (1) (54,367 ) (220,577 ) (274,944 ) Real Assets (1) (2,035,727 ) 1,591,541 (444,186 ) Foreign Exchange Forward Contracts and Options (2) 415,370 87,482 502,852 Securities Sold Short (2) (6,860 ) 3,909 (2,951 ) Other Derivatives (2) 17,694 2,449 20,143 Debt Obligations and Other (3) 74,266 (134,411 ) (60,145 ) Net Gains (Losses) From Investment Activities $ 3,001,884 $ 1,670,743 $ 4,672,627 (1) See Note 4 "Investments." (2) See Note 8 "Other Assets and Accounts Payable, Accrued Expenses and Other Liabilities." (3) See Note 10 "Debt Obligations."

INVESTMENTS

INVESTMENTS	12 Months Ended
	Dec. 31, 2017
Investments [Abstract]
INVESTMENTS	INVESTMENTS Investments consist of the following: December 31, 2017 December 31, 2016 Private Equity $ 3,301,261 $ 2,915,667 Credit 7,621,320 4,847,936 Investments of Consolidated CFEs 15,573,203 13,950,897 Real Assets 2,302,061 1,807,128 Equity Method 4,552,515 2,728,995 Carried Interest 2,904,287 2,384,177 Other 2,759,287 2,774,965 Total Investments $ 39,013,934 $ 31,409,765 As of December 31, 2017 and 2016, there were no investments which represented greater than 5% of total investments. The majority of the securities underlying private equity investments represent equity securities. Carried Interest Carried interest allocated to the general partner in respect of performance of investment funds that are not consolidated were as follows: Balance at December 31, 2016 $ 2,384,177 Carried Interest Allocated as a result of Changes in Fund Fair Value 1,740,661 Cash Proceeds Received (1,220,551 ) Balance at December 31, 2017 $ 2,904,287 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 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 generally 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. With respect to equity method investments where KKR has elected the fair value option, KKR's net income or loss associated with these investments predominantly represents fair value adjustments in the investments. Changes in estimated fair value are recorded in Net Gains (Losses) from Investment Activities in the consolidated statement of operations. KKR evaluates each of its equity method investments to determine if any are significant as defined in the regulations promulgated by the U.S. Securities and Exchange Commission (the "SEC"). As of and for the years ended December 31, 2017, 2016 and 2015, no individual equity method investment held by KKR met the significance criteria. As such, KKR is not required to present separate financial statements for any of its equity method investments. Investment in Marshall Wace On November 2, 2015, KKR entered into a long-term strategic relationship with Marshall Wace LLP and its affiliates ("Marshall Wace") and acquired a 24.9% interest in Marshall Wace through a combination of cash and common units. Subject to the exercise of a put option by Marshall Wace or a call option by KKR, at subsequent closings to occur in the second, third and fourth years following the initial closing described above, and subject to satisfaction or waiver of certain closing conditions, including regulatory approvals, KKR may at each such closing subscribe (or be required to subscribe) for an incremental 5% equity interest, for ultimate aggregate ownership of up to 39.9% of Marshall Wace. The exercise of such options would require the use of cash and/or issuance of KKR common units. KKR's investment in Marshall Wace is accounted for using the equity method of accounting. On November 30, 2017, KKR acquired an additional 5.0% interest in Marshall Wace after the exercise of one of the options agreed to between Marshall Wace and KKR. This acquisition was funded through a combination of cash and newly issued common units. Summarized Financial Information The following table shows summarized financial information relating to the statements of financial condition for KKR's equity method investments assuming 100% ownership as of December 31, 2017 and 2016: December 31, 2017 December 31, 2016 Total Assets $ 66,989,419 $ 46,607,136 Total Liabilities $ 10,510,223 $ 4,368,696 Total Equity $ 56,479,196 $ 42,238,440 The following table shows summarized financial information relating to the statements of operations for KKR's equity method investments assuming 100% ownership for the years ended December 31, 2017, 2016 and 2015: For the Years Ended December 31, 2017 2016 2015 Investment Related Revenues $ 1,167,038 $ 1,195,404 $ 240,877 Other Revenues 3,002,987 1,201,693 623,714 Investment Related Expenses 482,336 464,616 53,081 Other Expenses 2,392,965 801,342 675,293 Net Realized and Unrealized Gain/(Loss) from Investments 9,217,912 3,625,293 (307,301 ) Net Income (Loss) $ 10,512,636 $ 4,756,432 $ (171,084 )

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The following tables summarize the valuation of KKR's assets and liabilities by the fair value hierarchy. Carried interest and equity method investments for which the fair value option has not been elected have been excluded from the tables below. Assets, at fair value: December 31, 2017 Level I Level II Level III Total Private Equity $ 1,043,390 $ 85,581 $ 2,172,290 $ 3,301,261 Credit — 2,482,383 5,138,937 7,621,320 Investments of Consolidated CFEs — 10,220,113 5,353,090 15,573,203 Real Assets 50,794 — 2,251,267 2,302,061 Equity Method 60,282 247,748 1,076,709 1,384,739 Other 864,872 134,404 1,760,011 2,759,287 Total 2,019,338 13,170,229 17,752,304 32,941,871 Foreign Exchange Contracts and Options — 96,584 — 96,584 Other Derivatives — 33,125 51,949 (1) 85,074 Total Assets $ 2,019,338 $ 13,299,938 $ 17,804,253 $ 33,123,529 (1) Includes derivative assets that were valued using a third-party valuation firm. The approach used to estimate the fair value of these derivative assets was generally the discounted cash flow method, which includes consideration of the current portfolio, projected portfolio construction, projected portfolio realizations, portfolio volatility (based on the volatility, correlation, and size of each underlying asset class), and the discounting of future cash flows to the reporting date. December 31, 2016 Level I Level II Level III Total Private Equity $ 1,240,108 $ 116,000 $ 1,559,559 $ 2,915,667 Credit — 1,557,575 3,290,361 4,847,936 Investments of Consolidated CFEs — 8,544,677 5,406,220 13,950,897 Real Assets — — 1,807,128 1,807,128 Equity Method — 220,896 570,522 791,418 Other 994,677 12,715 1,767,573 2,774,965 Total 2,234,785 10,451,863 14,401,363 27,088,011 Foreign Exchange Contracts and Options — 240,627 — 240,627 Other Derivatives — 81,593 — 81,593 Total Assets $ 2,234,785 $ 10,774,083 $ 14,401,363 $ 27,410,231 Liabilities, at fair value: December 31, 2017 Level I Level II Level III Total Securities Sold Short $ 692,007 $ — $ — $ 692,007 Foreign Exchange Contracts and Options — 260,948 — 260,948 Unfunded Revolver Commitments — — 17,629 (1) 17,629 Other Derivatives — 27,581 41,800 (2) 69,381 Debt Obligations of Consolidated CFEs — 10,347,980 5,238,236 15,586,216 Total Liabilities $ 692,007 $ 10,636,509 $ 5,297,665 $ 16,626,181 December 31, 2016 Level I Level II Level III Total Securities Sold Short $ 644,196 $ 3,038 $ — $ 647,234 Foreign Exchange Contracts and Options — 75,218 — 75,218 Unfunded Revolver Commitments — 9,023 — 9,023 Other Derivatives — 44,015 56,000 (2) 100,015 Debt Obligations of Consolidated CFEs — 8,563,547 5,294,741 13,858,288 Total Liabilities $ 644,196 $ 8,694,841 $ 5,350,741 $ 14,689,778 (1) These unfunded revolver commitments are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR's Level III credit investments. (2) Includes options issued in connection with the acquisition of the 24.9% equity interest in Marshall Wace in November 2015 and its affiliates to increase KKR's ownership interest to 39.9% in periodic increments from 2017 to 2019. The option is valued using a Monte-Carlo simulation valuation methodology. Key inputs used in this methodology that require estimates include Marshall Wace's dividend yield, assets under management volatility and equity volatility. See Note 4 "Investments." The following tables summarize changes in investments and debt obligations reported at fair value for which Level III inputs have been used to determine fair value for the years ended December 31, 2017 and 2016, respectively: For the Year Ended December 31, 2017 Level III Investments Level III Debt Obligations Private Equity Credit Investments of Consolidated CFEs Real Assets Equity Method Other Total Debt Obligations of Consolidated CFEs Balance, Beg. of Period $ 1,559,559 $ 3,290,361 $ 5,406,220 $ 1,807,128 $ 570,522 $ 1,767,573 $ 14,401,363 $ 5,294,741 Transfers In/Out Due to Changes in Consolidation — (41,422 ) — 45,639 — — 4,217 — Transfers In — — — — — 3,511 3,511 — Transfers Out (14,532 ) (16,671 ) — — — (1,496 ) (32,699 ) — Asset Purchases / Debt Issuances 427,914 2,545,756 — 744,273 728,338 327,144 4,773,425 — Sales / Paydowns (175,676 ) (1,224,468 ) (45,562 ) (528,617 ) (291,326 ) (262,953 ) (2,528,602 ) — Settlements — 134,561 — — — — 134,561 (45,562 ) Net Realized Gains (Losses) 6,846 (97,409 ) — (18,722 ) 21,865 (40,098 ) (127,518 ) — Net Unrealized Gains (Losses) 368,179 518,049 (7,568 ) 201,566 47,310 (33,670 ) 1,093,866 (10,943 ) Change in Other Comprehensive Income — 30,180 — — — — 30,180 — Balance, End of Period $ 2,172,290 $ 5,138,937 $ 5,353,090 $ 2,251,267 $ 1,076,709 $ 1,760,011 $ 17,752,304 $ 5,238,236 Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date $ 370,136 $ 424,099 $ (7,568 ) $ 147,940 $ 61,855 $ (22,904 ) $ 973,558 $ (10,943 ) For the Year Ended December 31, 2016 Level III Investments Level III Private Equity Credit Investments of Consolidated CFEs Real Assets Equity Method Other Total Debt Obligations of Consolidated CFEs Balance, Beg. of Period $ 18,903,538 $ 5,012,355 $ — $ 4,048,281 $ 891,606 $ 2,581,188 $ 31,436,968 $ — Transfers Out Due to Deconsolidation of Funds (17,856,098 ) (2,354,181 ) — (2,628,999 ) — (984,813 ) (23,824,091 ) — Transfers In — 47,536 4,343,829 — — 180,508 4,571,873 4,272,081 Transfers Out (104,000 ) (7,482 ) — — (311,270 ) — (422,752 ) — Asset Purchases / Debt Issuances 591,459 1,589,920 1,026,801 535,210 101,524 364,180 4,209,094 990,450 Sales / Paydowns (111,018 ) (973,370 ) (32,286 ) (387,593 ) (78,088 ) (162,989 ) (1,745,344 ) — Settlements — 128,299 — — — — 128,299 (32,286 ) Net Realized Gains (Losses) (219,407 ) (9,786 ) — 87,512 3,830 (16,456 ) (154,307 ) — Net Unrealized Gains (Losses) 355,085 (138,496 ) 67,876 152,717 (37,080 ) (194,045 ) 206,057 64,496 Change in Other Comprehensive Income — (4,434 ) — — — — (4,434 ) — Balance, End of Period $ 1,559,559 $ 3,290,361 $ 5,406,220 $ 1,807,128 $ 570,522 $ 1,767,573 $ 14,401,363 $ 5,294,741 Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date $ 127,082 $ (138,335 ) $ 67,876 $ 180,543 $ (31,130 ) $ (217,771 ) $ (11,735 ) $ 64,496 Total realized and unrealized gains and losses recorded for Level III assets and liabilities are reported in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. The following table summarizes the fair value transfers between fair value levels for the years ended December 31, 2017 and 2016: For the Years Ended December 31, 2017 2016 Assets, at fair value: Transfers from Level I to Level II (1) $ 53,416 $ 73,600 Transfers from Level II to Level I (4) $ 33,634 $ — Transfers from Level II to Level III (2) $ 3,511 $ 4,571,873 Transfers from Level III to Level II (3) $ 16,671 $ 318,752 Transfers from Level III to Level I (4) $ 16,028 $ 104,000 Liabilities, at fair value: Transfers from Level II to Level III (5) $ — $ 4,272,081 (1) Transfers out of Level I into Level II are principally attributable to certain investments that are no longer valued using a publicly traded market price. (2) Transfers out of Level II into Level III 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. (3) Transfers out of Level III into Level II are principally attributable to certain investments that experienced a higher level of market activity during the period and thus were valued using observable inputs. (4) Transfers out of Level III and Level II into Level I are attributable to portfolio companies that are valued using their publicly traded market price. (5) Transfers out of Level II into Level III are principally attributable to debt obligations of CMBS vehicles due to an insignificant level of market activity during the period and thus were valued in the absence of observable inputs. The following table presents additional information about valuation methodologies and significant unobservable inputs used for investments and debt obligations that are measured at fair value and categorized within Level III as of December 31, 2017 : Fair Value December 31, 2017 Valuation Methodologies Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) Private Equity $ 2,172,290 Private Equity $ 576,410 Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 9.6% 5.0% - 15.0% Decrease Weight Ascribed to Market Comparables 48.4% 0.0% - 50.0% (4) Weight Ascribed to Discounted Cash Flow 51.6% 50.0% - 100.0% (5) Market comparables Enterprise Value/LTM EBITDA Multiple 14.4x 7.4x - 26.2x Increase Enterprise Value/Forward EBITDA Multiple 12.4x 5.7x - 19.0x Increase Discounted cash flow Weighted Average Cost of Capital 10.1% 7.7% - 14.6% Decrease Enterprise Value/LTM EBITDA Exit Multiple 10.5x 4.8x - 15.1x Increase Growth Equity $ 1,595,880 Inputs to market comparables, discounted cash flow and milestones Illiquidity Discount 13.3% 10.0% - 15.0% Decrease Weight Ascribed to Market Comparables 24.5% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 9.0% 0.0% - 75.0% (5) Weight Ascribed to Milestones 66.5% 0.0% - 100.0% (6) Scenario Weighting Base 51.9% 30.0% - 80.0% Increase Downside 21.4% 5.0% - 40.0% Decrease Upside 26.7% 10.0% - 45.0% Increase Credit $ 5,138,937 Yield Analysis Yield 10.3% 3.2% - 36.6% Decrease Net Leverage 4.7x 0.5x - 27.5x Decrease EBITDA Multiple 11.8x 0.1x - 22.4x Increase Investments of Consolidated CFEs $ 5,353,090 (9) Debt Obligations of Consolidated CFEs $ 5,238,236 Discounted cash flow Yield 5.6% 2.2% - 29.3% Decrease Real Assets $ 2,251,267 (10) Energy $ 1,152,627 Discounted cash flow Weighted Average Cost of Capital 10.4% 9.4% - 17.5% Decrease Average Price Per BOE (8) $40.34 $26.50 - $42.05 Increase Real Estate $ 887,403 Inputs to direct income capitalization and discounted cash flow Weight Ascribed to Direct Income Capitalization 37.2% 0.0% - 100.0% (7) Weight Ascribed to Discounted Cash Flow 62.8% 0.0% - 100.0% (5) Direct income capitalization Current Capitalization Rate 5.8% 1.9% - 8.7% Decrease Discounted cash flow Unlevered Discount Rate 9.0% 4.5% - 20.0% Decrease Other $ 1,760,011 (11) Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 10.6% 5.0% - 15.0% Decrease Weight Ascribed to Market Comparables 22.8% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 45.3% 0.0% - 100.0% (5) Weight Ascribed to Transaction Price 31.9% 0.0% - 100.0% (6) Market comparables Enterprise Value/LTM EBITDA Multiple 10.9x 0.1x - 15.1x Increase Enterprise Value/Forward EBITDA Multiple 9.1x 4.0x - 13.5x Increase Discounted cash flow Weighted Average Cost of Capital 11.8% 8.5% - 21.2% Decrease Enterprise Value/LTM EBITDA Exit Multiple 6.7x 2.0x - 11.3x Increase (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 and debt obligations. 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 or milestones 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) 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. (8) 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 85% liquids and 15% natural gas. (9) KKR measures CMBS investments on the basis of the fair value of the financial liabilities of the CMBS vehicle. See Note 2 "Summary of Significant Accounting Policies." (10) Includes one Infrastructure investment for $211.2 million that was valued using a discounted cash flow analysis. The significant inputs used included the weighted average cost of capital 7.6% and the enterprise value/LTM EBITDA Exit Multiple 12.0 x. (11) Consists primarily of investments in common stock, preferred stock, warrants and options of companies that are not private equity, real assets, credit or investments of consolidated CFEs. The table above excludes equity method investments, which KKR has elected the fair value option in the amount of $1,076.7 million , comprised primarily of (i) interests in partnerships that hold investments in private equity investments, (ii) interests in real estate joint ventures and (iii) direct interests in certain operating companies. These equity method investments were valued using Level III value methodologies which are generally the same as those shown for private equity and real estate investments. 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 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.

FAIR VALUE OPTION

FAIR VALUE OPTION	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE OPTION	FAIR VALUE OPTION The following table summarizes the financial instruments for which the fair value option has been elected: December 31, 2017 December 31, 2016 Assets Private Equity $ 3,744 $ 96,721 Credit 4,381,519 1,392,525 Investments of Consolidated CFEs 15,573,203 13,950,897 Real Assets 343,820 247,376 Equity Method 1,384,739 791,418 Other 344,996 240,343 Total $ 22,032,021 $ 16,719,280 Liabilities Debt Obligations of Consolidated CFEs $ 15,586,216 $ 13,858,288 Total $ 15,586,216 $ 13,858,288 The following table presents the net realized and net change in unrealized gains (losses) on financial instruments on which the fair value option was elected for the years ended December 31, 2017 , 2016 and 2015, respectively: For the Years Ended December 31, 2017 2016 2015 Net Realized Gains (Losses) Net Unrealized Gains (Losses) Net Realized Net Unrealized Gains (Losses) Net Realized Net Unrealized Gains (Losses) Assets Private Equity $ (1,386 ) $ 38,791 $ (245,014 ) $ 238,600 $ 111,962 $ 86,419 Credit (464,512 ) 78,282 (144,854 ) 48,922 (22,847 ) (68,053 ) Investments of Consolidated CFEs (97,129 ) 352 (258,430 ) 444,142 (54,367 ) (220,577 ) Real Assets 13,112 44,136 8,835 4,159 (200,394 ) 213,171 Equity Method 18,883 (2,635 ) 3,830 (127,741 ) 7,703 (80,587 ) Other (32,217 ) 24,923 (10,361 ) (19,386 ) 9,984 (20,691 ) Total $ (563,249 ) $ 183,849 $ (645,994 ) $ 588,696 $ (147,959 ) $ (90,318 ) Liabilities Debt Obligations of Consolidated CFEs 83,146 11,768 325,548 (357,321 ) — (11,257 ) Total $ 83,146 $ 11,768 $ 325,548 $ (357,321 ) $ — $ (11,257 )

NET INCOME (LOSS) ATTRIBUTABLE

NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. L.P. PER COMMON UNIT	12 Months Ended
	Dec. 31, 2017
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 years ended December 31, 2017 , 2016 and 2015, basic and diluted Net Income (Loss) attributable to KKR & Co. L.P. per common unit were calculated as follows: For the Years Ended December 31, 2017 2016 2015 Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders $ 984,941 $ 287,072 $ 488,482 Basic Net Income (Loss) Per Common Unit Weighted Average Common Units Outstanding - Basic 468,282,642 448,905,126 448,884,185 Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Basic $ 2.10 $ 0.64 $ 1.09 Diluted Net Income (Loss) Per Common Unit Weighted Average Common Units Outstanding - Basic 468,282,642 448,905,126 448,884,185 Weighted Average Unvested Common Units and Other Exchangeable Securities 38,006,329 34,525,922 33,815,009 Weighted Average Common Units Outstanding - Diluted 506,288,971 483,431,048 482,699,194 Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Diluted $ 1.95 $ 0.59 $ 1.01 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. For the years ended December 31, 2017 , 2016 and 2015, KKR Holdings units have been excluded from the calculation of Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Diluted since the exchange of these units would not dilute KKR's respective ownership interests in the KKR Group Partnerships. For the Years Ended December 31, 2017 2016 2015 Weighted Average KKR Holdings Units Outstanding 344,422,095 357,873,788 368,399,872 Additionally, for the year ended December 31, 2017, 5.0 million KKR common units subject to a market-price based vesting condition ("Market Condition Awards") were excluded from the calculation of Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Diluted since the vesting conditions have not been satisfied. See Note 12 "Equity Based Compensation."

OTHER ASSETS AND ACCOUNTS PAYAB

OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES	12 Months Ended
	Dec. 31, 2017
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: December 31, 2017 December 31, 2016 Unsettled Investment Sales (1) $ 134,781 $ 144,600 Receivables 138,109 49,279 Due from Broker (2) 682,403 1,084,602 Oil & Gas Assets, net (3) 252,371 276,694 Deferred Tax Assets, net 131,944 286,948 Interest Receivable 189,785 158,511 Fixed Assets, net (4) 364,203 283,262 Foreign Exchange Contracts and Options (5) 96,584 240,627 Intangible Assets, net (6) 129,178 135,024 Goodwill (6) 83,500 89,000 Derivative Assets 85,074 81,593 Deferred Transaction Related Expenses 54,328 17,688 Prepaid Taxes 83,371 46,996 Prepaid Expenses 25,677 17,761 Deferred Financing Costs 7,534 10,507 Other 72,233 73,773 Total $ 2,531,075 $ 2,996,865 (1) Represents amounts due from third parties for investments sold for which cash settlement has not occurred. (2) Represents amounts held at clearing brokers resulting from securities transactions. (3) 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. Depreciation, depletion and amortization amounted to $24.7 million and $38.9 million for the years ended December 31, 2017 and 2016, respectively. Whenever events or changes in circumstances indicate that the carrying amounts of such oil and natural gas properties may not be recoverable, KKR evaluates its proved and unproved oil and natural gas properties and related equipment and facilities for impairment on a field-by-field basis. For the year ended December 31, 2017, there was no impairment charge. For the years ended December 31, 2016 and 2015, KKR recorded impairment charges totaling approximately $6.2 million and $54.0 million , respectively, to write down certain of its oil and natural gas properties. The impairment charge is recorded in General, Administrative and Other in the consolidated statements of operations. (4) Net of accumulated depreciation and amortization of $156,859 and $141,911 as of December 31, 2017 and December 31, 2016 , respectively. Depreciation and amortization expense of $15,329 , $16,045 and $15,418 for the years ended December 31, 2017 , 2016 and 2015, respectively, is included in General, Administrative and Other in the accompanying consolidated statements of operations. (5) Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign currency 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 consolidated statements of operations. See Note 3 "Net Gains (Losses) from Investment Activities" for the net changes in fair value associated with these instruments. (6) See Note 16 "Goodwill and Intangible Assets." Accounts Payable, Accrued Expenses and Other Liabilities consist of the following: December 31, 2017 December 31, 2016 Amounts Payable to Carry Pool (1) $ 1,220,559 $ 987,994 Unsettled Investment Purchases (2) 885,945 722,076 Securities Sold Short (3) 692,007 647,234 Derivative Liabilities 69,381 100,015 Accrued Compensation and Benefits 35,953 20,764 Interest Payable 168,673 114,894 Foreign Exchange Contracts and Options (4) 260,948 75,218 Accounts Payable and Accrued Expenses 152,916 114,854 Deferred Rent 17,441 17,503 Taxes Payable 35,933 12,514 Uncertain Tax Positions Reserve 58,369 51,964 Redemptions Payable — 4,021 Due to Broker (5) — 83,206 Other Liabilities 56,125 29,003 Total $ 3,654,250 $ 2,981,260 (1) 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. (2) Represents amounts owed to third parties for investment purchases for which cash settlement has not occurred. (3) 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 consolidated statements of operations. See Note 3 "Net Gains (Losses) from Investment Activities" for the net changes in fair value associated with these instruments. (4) Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign currency 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 consolidated statements of operations. See Note 3 "Net Gains (Losses) from Investment Activities" for the net changes in fair value associated with these instruments. (5) Represents amounts owed for securities transactions initiated at clearing brokers.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES Consolidated VIEs KKR consolidates certain VIEs in which it is determined that KKR is the primary beneficiary as described in Note 2 "Summary of Significant Accounting Policies" and which are predominately CFEs and certain investment funds. The primary purpose of these VIEs is to provide strategy specific investment opportunities to earn capital gains, current income or both in exchange for management and performance based fees or carried interest. KKR's investment strategies for these VIEs differ by product; however, the fundamental risks have similar characteristics, including loss of invested capital and loss of management fees and carried interests. KKR does not provide performance guarantees and has no other financial obligation to provide funding to these consolidated VIEs, beyond amounts previously committed, if any. Unconsolidated VIEs KKR holds variable interests in certain VIEs which are not consolidated as it has been determined that KKR is not the primary beneficiary. VIEs that are not consolidated include certain investment funds sponsored by KKR and certain CLO vehicles. 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, including KKR's capital interest and any unrealized carried interest, which was approximately $4.4 billion at December 31, 2017 . 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 December 31, 2017 , KKR's commitments to these unconsolidated investment funds was $1.9 billion . KKR has not provided any financial support other than its obligated amount as of December 31, 2017 . 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 consolidated statements of financial condition. KKR earns management fees, including subordinated collateral management fees, for managing the collateral of the CLO vehicles. As of December 31, 2017 , combined assets under management in the pools of unconsolidated CLO vehicles were $0.7 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 $27.5 million as of December 31, 2017 . 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 December 31, 2017 and 2016, the maximum exposure to loss, before allocations to the carry pool and noncontrolling interests, 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: December 31, 2017 December 31, 2016 Investments $ 4,417,003 $ 3,632,162 Due from (to) Affiliates, net 176,131 (60,604 ) Maximum Exposure to Loss $ 4,593,134 $ 3,571,558

DEBT OBLIGATIONS

DEBT OBLIGATIONS	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
DEBT OBLIGATIONS	DEBT OBLIGATIONS KKR borrows and enters into credit agreements and issues debt for its general operating and investment purposes. Additionally, certain of KKR's consolidated investment funds borrow to meet financing needs of their operating and investing activities. 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 investment funds. When an investment fund borrows from the facility in which it participates, the proceeds from the borrowings are 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, certain consolidated CFE vehicles issue debt securities to third-party investors which are collateralized by assets held by the CFE vehicle. Debt securities issued by CFEs are supported solely by the assets held at the CFEs and are not collateralized by assets of any other KKR entity. CFEs also may have warehouse facilities with banks to provide liquidity to the CFE. The CFE's debt obligations are non-recourse to KKR beyond the assets of the CFE. KKR's borrowings consisted of the following: December 31, 2017 December 31, 2016 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 487,656 — — 500,000 — — KCM Short-Term Credit Agreement 750,000 — — — — — Notes Issued: KKR Issued 6.375% Notes Due 2020 (1) — 498,390 549,000 (10) — 497,804 562,960 (10) KKR Issued 5.500% Notes Due 2043 (2) — 491,496 580,000 (10) — 491,158 502,800 (10) KKR Issued 5.125% Notes Due 2044 (3) — 990,375 1,107,100 (10) — 990,009 955,240 (10) KFN Issued 5.500% Notes Due 2032 (4) — 493,129 505,235 — — — KFN Issued 7.500% Notes Due 2042 (5) — — — — 123,008 116,699 (11) KFN Issued Junior Subordinated Notes (6) — 236,038 201,828 — 250,154 210,084 Other Consolidated Debt Obligations: Fund Financing Facilities and Other (7) 2,056,096 2,898,215 2,898,215 (12) 2,039,532 2,333,654 2,333,654 (12) CLO Senior Secured Notes (8) — 10,055,686 10,055,686 — 8,279,812 8,279,812 CLO Subordinated Notes (8) — 292,294 292,294 — 283,735 283,735 CMBS Debt Obligations (9) — 5,238,236 5,238,236 — 5,294,741 5,294,741 $ 4,293,752 $ 21,193,859 $ 21,427,594 $ 3,539,532 $ 18,544,075 $ 18,539,725 (1) $500 million aggregate principal amount of 6.375% senior notes of KKR due 2020. Borrowing outstanding is presented net of i) unamortized note discount and ii) unamortized debt issuance costs of $1.0 million and $1.4 million as of December 31, 2017 and 2016, respectively. (2) $500 million aggregate principal amount of 5.500% senior notes of KKR due 2043. Borrowing outstanding is presented net of i) unamortized note discount and ii) unamortized debt issuance costs of $3.7 million and $3.9 million as of December 31, 2017 and 2016, respectively. (3) $1.0 billion aggregate principal amount of 5.125% senior notes of KKR due 2044. Borrowing outstanding is presented net of i) unamortized note discount (net of premium) and ii) unamortized debt issuance costs of $8.3 million and $8.6 million as of December 31, 2017 and 2016, respectively. (4) KKR consolidates KFN and thus reports KFN's outstanding $500.0 million aggregate principal amount of 5.500% senior notes due 2032. Borrowing outstanding is presented net of i) unamortized note discount and ii) unamortized debt issuance costs of $4.7 million as of December 31, 2017 . 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. (5) KKR consolidates KFN and thus reports KFN's outstanding $115.0 million aggregate principal amount of 7.500% senior notes due 2042. These senior notes were redeemed in April 2017. Borrowing outstanding is presented net of unamortized note premium as of December 31, 2016. (6) KKR consolidates KFN and thus reports KFN's outstanding $264.8 million aggregate principal amount of junior subordinated notes. The weighted average interest rate is 3.8% and the weighted average years to maturity is 19.0 years as of December 31, 2017 . 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. (7) Certain of KKR's consolidated 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 4.2% and 2.4% as of December 31, 2017 and 2016, respectively. In addition, the weighted average years to maturity is 3.6 years and 2.4 years as of December 31, 2017 and 2016, respectively. (8) CLO debt obligations are carried at fair value and are classified as Level II within the fair value hierarchy. See Note 5 "Fair Value Measurements." (9) CMBS debt obligations are carried at fair value and are classified as Level III within the fair value hierarchy. See Note 5 "Fair Value Measurements." (10) The notes are classified as Level II within the fair value hierarchy and fair value is determined by third party broker quotes. (11) 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. (12) Carrying value approximates fair value given the fund financing facilities' interest rates are variable. Revolving Credit Facilities Corporate Credit Agreement On October 22, 2014 , Kohlberg Kravis Roberts & Co. L.P. and the KKR Group Partnerships, as borrowers, entered into a credit agreement with certain lending institutions and HSBC Bank USA, National Association, as Administrative Agent (the "Corporate Credit Agreement"). The Corporate Credit Agreement provides the borrowers with a senior unsecured multicurrency revolving credit facility in an aggregate principal amount of $1.0 billion , with the option to request an increase in the facility amount of up to an additional $250 million , for an aggregate principal amount of $1.25 billion , subject to certain conditions, including obtaining new or increased commitments from new or existing lenders. The credit facility is a five ‑year facility, scheduled to mature on October 22, 2019 , with the borrowers' option to extend the maturity date, subject to the consent of the applicable lenders, and the borrowers may prepay, terminate or reduce the commitments under the credit facility at any time without penalty. Interest on borrowings under the credit facility are based on either London Interbank Offered Rate ("LIBOR") or Alternate Base Rate ("ABR"), with the applicable margin (per annum in excess of LIBOR or the ABR) based on a corporate ratings‑based pricing grid ranging from 69 basis points to 120 basis points (for LIBOR borrowings). Borrowings under the credit facility are guaranteed by KKR & Co. L.P. and any other entity (other than the borrowers) that guarantees the 2020 Senior Notes, 2043 Senior Notes or the 2044 Senior Notes (each as defined below). For the years ended December 31, 2017 and 2016, no amounts were borrowed under the credit facility. KCM Credit Agreement KKR Capital Markets maintains a revolving credit agreement with a major financial institution (the "KCM Credit Agreement") for use in KKR's capital markets business. This financial institution also holds an ownership interest in our capital markets business. The KCM Credit Agreement provides for revolving borrowings of up to $500 million with a $500 million sublimit for letters of credit. On March 30, 2016, the KCM Credit Agreement was amended to extend the maturity date from March 30, 2017 to March 30, 2021. If a borrowing is made on the KCM Credit Agreement, the interest rate will vary depending on the type of drawdown requested. If the loan is a Eurocurrency loan, it will be based on LIBOR plus the applicable margin which ranges initially between 1.25% and 2.50% , depending on the amount and nature of the loan. If the loan is an ABR Loan, it will be based on the prime rate plus the applicable margin which ranges initially between 0.25% and 1.50% depending on the amount and nature of the loan. Borrowings under this facility may only be used for KKR's capital markets business, and its only obligors are entities involved in KKR's capital markets business, and its liabilities are non-recourse to other parts of KKR's business. For the year ended December 31, 2017 , $847.0 million was borrowed and repaid under the credit facility. As of December 31, 2017, no amounts were drawn under the KCM Credit Agreement, but a letter of credit was outstanding in the amount of $12.3 million which reduces the overall capacity of the KCM Credit Agreement. For the year ended December 31, 2016, $848.0 million was borrowed and repaid under the credit facility. KCM Short-Term Credit Agreement On June 29, 2017, KKR Capital Markets entered into a 364 -day revolving credit agreement (the "KCM Short-Term Credit Agreement") with the same financial institution that provides the KCM Credit Agreement. The KCM Short-Term Credit Agreement provides for revolving borrowings of up to $750 million , expires on June 28, 2018, and ranks pari passu with the KCM Credit Agreement. If a borrowing is made under the KCM Short-Term Credit Agreement, the interest rate will vary depending on the type of drawdown requested. If the borrowing is a Eurocurrency loan, it will be based on a LIBOR rate plus an applicable margin ranging between 1.25% and 2.50% , depending on the duration of the loan. If the borrowing is an ABR loan, it will be based on a base rate plus an applicable margin ranging between 0.25% and 1.50% , depending on the duration of the loan. Borrowings under the KCM Short-Term Credit Agreement may only be used to facilitate the settlement of debt transactions syndicated by KKR's capital markets business. Obligations under the KCM Short-Term Credit Agreement are limited solely to entities involved in KKR's capital markets business, and liabilities under the KCM Short-Term Credit Agreement are non-recourse to other parts of KKR. For the year ended December 31, 2017 , $635 million was borrowed and repaid under the KCM Short-Term Credit Agreement. Notes Issuances and Redemptions KKR Issued 6.375% Notes Due 2020 On September 29, 2010, KKR Group Finance Co. LLC, a subsidiary of KKR Management Holdings Corp., issued $500 million aggregate principal amount of 6.375% Senior Notes due 2020 (the "2020 Senior Notes"), which were issued at a price of 99.584% . The 2020 Senior Notes are unsecured and unsubordinated obligations of KKR Group Finance Co. LLC and will mature on September 29, 2020, unless earlier redeemed or repurchased. The 2020 Senior 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 2020 Senior Notes bear interest at a rate of 6.375% per annum, accruing from September 29, 2010. Interest is payable semi‑annually in arrears on March 29 and September 29 of each year. The indenture, as supplemented by a first supplemental indenture, relating to the 2020 Senior Notes includes covenants, including limitations on KKR Group Finance Co. LLC and the guarantors' ability to, subject to exceptions, incur indebtedness secured by liens on voting stock or profit participating equity interests of their subsidiaries or merge, consolidate or sell, transfer or lease assets. The indenture, as supplemented, also provides for events of default and further provides that the trustee or the holders of not less than 25% in aggregate principal amount of the outstanding 2020 Senior Notes may declare the 2020 Senior Notes immediately due and payable upon the occurrence and during the continuance of any event of default after expiration of any applicable grace period. In the case of specified events of bankruptcy, insolvency, receivership or reorganization, the principal amount of the 2020 Senior Notes and any accrued and unpaid interest on the 2020 Senior Notes automatically becomes due and payable. All or a portion of the 2020 Senior Notes may be redeemed at the issuer's option in whole or in part, at any time, and from time to time, prior to their stated maturity, at the make‑whole redemption price set forth in the 2020 Senior Notes. If a change of control repurchase event occurs, the 2020 Senior Notes are subject to repurchase by the issuer at a repurchase price in cash equal to 101% of the aggregate principal amount of the 2020 Senior Notes repurchased plus any accrued and unpaid interest on the 2020 Senior Notes repurchased to, but not including, the date of repurchase. KKR Issued 5.500% Notes Due 2043 On February 1, 2013, KKR Group Finance Co. II LLC, a subsidiary of KKR Management Holdings Corp., issued $500 million aggregate principal amount of 5.50% Senior Notes due 2043 (the "2043 Senior Notes"), which were issued at a price of 98.856% . The 2043 Senior Notes are unsecured and unsubordinated obligations of KKR Group Finance Co. II LLC and will mature on February 1, 2043, unless earlier redeemed or repurchased. The 2043 Senior 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 2043 Senior Notes bear interest at a rate of 5.50% per annum, accruing from February 1, 2013. Interest is payable semi‑annually in arrears on February 1 and August 1 of each year. The indenture, as supplemented by a first supplemental indenture, relating to the 2043 Senior Notes includes covenants, including limitations on KKR Group Finance Co. II LLC and the guarantors' ability to, subject to exceptions, incur indebtedness secured by liens on voting stock or profit participating equity interests of their subsidiaries or merge, consolidate or sell, transfer or lease assets. The indenture, as supplemented, also provides for events of default and further provides that the trustee or the holders of not less than 25% in aggregate principal amount of the outstanding 2043 Senior Notes may declare the 2043 Senior Notes immediately due and payable upon the occurrence and during the continuance of any event of default after expiration of any applicable grace period. In the case of specified events of bankruptcy, insolvency, receivership or reorganization, the principal amount of the 2043 Senior Notes and any accrued and unpaid interest on the 2043 Senior Notes automatically becomes due and payable. All or a portion of the 2043 Senior Notes may be redeemed at the issuer's option in whole or in part, at any time, and from time to time, prior to their stated maturity, at the make‑whole redemption price set forth in the 2043 Senior Notes. If a change of control repurchase event occurs, the 2043 Senior Notes are subject to repurchase by the issuer at a repurchase price in cash equal to 101% of the aggregate principal amount of the 2043 Senior Notes repurchased plus any accrued and unpaid interest on the 2043 Senior Notes repurchased to, but not including, the date of repurchase. KKR Issued 5.125% Notes Due 2044 On May 29, 2014, KKR Group Finance Co. III LLC, a subsidiary of KKR Management Holdings Corp., issued $500 million aggregate principal amount of 5.125% Senior Notes due 2044 (the "2044 Senior Notes"), which were issued at a price of 98.612% . The 2044 Senior Notes are unsecured and unsubordinated obligations of the issuer and will mature on June 1, 2044, unless earlier redeemed or repurchased. The 2044 Senior 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 2044 Senior Notes bear interest at a rate of 5.125% per annum, accruing from May 29, 2014. Interest is payable semi‑annually in arrears on June 1 and December 1 of each year, commencing on December 1, 2014. On March 18, 2015, KKR Group Finance Co. III LLC issued an additional $500 million aggregate principal amount of its 2044 Notes, which were priced at 101.062% . The 2044 Notes issued in March 2015 form a single series with the 2044 Notes issued in May 2014, and the terms are identical to each other except for the issue date, issue price, the first payment date, June 1, 2015, and the date from which interest begins to accrue for the 2044 Notes issued in March 2015. The indenture, as supplemented by a first supplemental indenture, relating to the 2044 Senior Notes includes covenants, including limitations on the issuer's and the guarantors' ability to, subject to exceptions, incur indebtedness secured by liens on voting stock or profit participating equity interests of their subsidiaries or merge, consolidate or sell, transfer or lease assets. The indenture, as supplemented, also provides for events of default and further provides that the trustee or the holders of not less than 25% in aggregate principal amount of the outstanding 2044 Senior Notes may declare the 2044 Senior Notes immediately due and payable upon the occurrence and during the continuance of any event of default after expiration of any applicable grace period. In the case of specified events of bankruptcy, insolvency, receivership or reorganization, the principal amount of the 2044 Senior Notes and any accrued and unpaid interest on the 2044 Senior Notes automatically becomes due and payable. All or a portion of the 2044 Senior Notes may be redeemed at the issuer's option in whole or in part, at any time, and from time to time, prior to their stated maturity, at the make-whole redemption price set forth in the 2044 Senior Notes. If a change of control repurchase event occurs, the 2044 Senior Notes are subject to repurchase by the issuer at a repurchase price in cash equal to 101% of the aggregate principal amount of the 2044 Senior Notes repurchased plus any accrued and unpaid interest on the 2044 Senior Notes repurchased to, but not including, the date of repurchase. KFN Issued 5.500% Notes Due 2032 On March 30, 2017, KFN issued $375.0 million aggregate principal amount of 5.500% Senior Notes due 2032 (the "KFN 2032 Senior Notes"), resulting in net proceeds to KFN of $368.6 million . The KFN 2032 Senior Notes are unsecured and unsubordinated obligations of KFN and will mature on March 30, 2032, unless earlier redeemed or repurchased. The KFN 2032 Senior Notes bear interest at a rate of 5.500% per annum, accruing from March 30, 2017. Interest is payable semi-annually in arrears on March 30 and September 30 of each year. The indenture, as supplemented by a first supplemental indenture, relating to the KFN 2032 Senior Notes includes covenants, including (i) limitations on KFN's ability to, subject to exceptions, incur indebtedness secured by liens on voting stock or profit participating equity interests of certain of its subsidiaries or merge, consolidate or sell, transfer or lease assets, (ii) requirements that KFN maintain a minimum Consolidated Net Worth (as defined in the indenture) and (iii) requirements that KFN maintain a minimum Cash and Liquid Investments (as defined in the indenture). The indenture, as supplemented, also provides for events of default and further provides that the trustee or the holders of not less than 25% in aggregate principal amount of the outstanding KFN 2032 Senior Notes may declare the KFN 2032 Senior Notes immediately due and payable upon the occurrence and during the continuance of any event of default after expiration of any applicable grace period. In the case of specified events of bankruptcy, insolvency, receivership or reorganization, the principal amount of the KFN 2032 Senior Notes and any accrued and unpaid interest on the KFN 2032 Senior Notes automatically becomes due and payable. Beginning on March 30, 2022, KFN may redeem the KFN 2032 Senior Notes in whole, but not in part, at KFN's option, at a redemption price equal to 100% of the outstanding principal amount plus accrued and unpaid interest to, but excluding, the date of redemption. At any time prior to March 30, 2022, KFN may redeem the KFN 2032 Senior Notes in whole, but not in part, at KFN's option at any time, at a "make-whole" redemption price set forth in the KFN 2032 Senior Notes. If a change of control occurs, the KFN 2032 Senior Notes are subject to repurchase by the issuer at a repurchase price in cash equal to 101% of the aggregate principal amount of the KFN 2032 Senior Notes repurchased plus any accrued and unpaid interest on the KFN 2032 Senior Notes repurchased to, but not including, the date of repurchase. On November 17, 2017, KFN issued an additional $125.0 million aggregate principal amount of the KFN 2032 Senior Notes, resulting in the total outstanding aggregate principal amount of $500.0 million . The additional KFN 2032 Senior Notes, which were issued under the indenture related to the existing KFN 2032 Senior Notes as supplemented by a second supplemental indenture, constitute a further issuance of and are part of the same series as the KFN 2032 Senior Notes first issued on March 30, 2017. KFN Issued 7.500% Notes Due 2042 On April 24, 2017, KFN redeemed all of its outstanding 7.500% Senior Notes due 2042 (the "KFN 2042 Senior Notes") for cash, in accordance with the optional redemption provisions provided in the indenture governing the KFN 2042 Senior Notes. The redemption price was equal to 100% of the $115.0 million principal amount of the KFN 2042 Senior Notes plus unpaid interest accrued thereon to, but excluding, the redemption date, in accordance with the terms of the KFN 2042 Senior Notes. KFN Issued Junior Subordinated Notes KFN also established six 30 ‑year trusts between 2006 and 2007 for the sole purpose of issuing trust preferred securities. These trusts issued preferred securities to unaffiliated investors and common securities to KFN. The combined proceeds were invested by the trusts in junior subordinated notes issued by KFN. The junior subordinated notes are the sole assets of trusts and mature between 2036 and 2037. Interest is payable on the junior subordinated notes quarterly and based on the associated trust ranges from between LIBOR plus 2.25% and LIBOR plus 2.65% . KFN may redeem the junior subordinated notes, in whole or in part, at any time, at a redemption price equal to 100% of the principal amount redeemed plus accrued and unpaid interest to the redemption date. As of December 31, 2017, the aggregate outstanding principal amount of the junior subordinated notes was approximately $264.8 million . Other Consolidated Debt Obligations Fund Financing Facilities Certain of KKR's investment funds have entered into financing arrangements with financial institutions, generally to provide liquidity to such investment funds. These financing arrangements are generally not direct obligations of the general partners of KKR's investment funds or its management companies. Such borrowings have varying maturities and bear interest at floating rates. Borrowings are generally secured by the investment purchased with the proceeds of the borrowing and/or the uncalled capital commitment of each respective fund. When an investment vehicle borrows, the proceeds are available only for use by that investment vehicle and are not available for the benefit of other investment vehicles or KKR. Collateral within each investment vehicle is also available only against borrowings by that investment vehicle and not against the borrowings of other investment vehicles or KKR. For the years ended December 31, 2017 and 2016, $6.9 billion was borrowed and $4.6 billion was repaid and $3.4 billion was borrowed and $3.4 billion was repaid, respectively. Debt Obligations of Consolidated CFEs As of December 31, 2017 , debt obligations of consolidated CFEs consisted of the following: Borrowing Outstanding Weighted Average Interest Rate Weighted Average Remaining Maturity in Years Senior Secured Notes of Consolidated CLOs $ 10,055,686 2.7 % 11.8 Subordinated Notes of Consolidated CLOs 292,294 (1) 12.2 Debt Obligations of Consolidated CMBS Vehicles 5,238,236 4.3 % 26.7 $ 15,586,216 (1) 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, if any. Debt obligations of consolidated CFEs are collateralized by assets held by each respective CFE vehicle and assets of one CFE vehicle may not be used to satisfy the liabilities of another. As of December 31, 2017 , the fair value of the consolidated CFE assets was $17.2 billion . This collateral consisted of Cash and Cash Equivalents Held at Consolidated Entities, Investments, and Other Assets. As part of KKR's borrowing arrangements, KKR is subject to certain financial and operating covenants. KKR was in compliance with all of its debt covenants in all material respects as of December 31, 2017 . Scheduled principal payments for debt obligations at December 31, 2017 are as follows: Revolving Credit Facilities Notes Issued Other Consolidated Debt Obligations Total 2018 $ — $ — $ 962,910 $ 962,910 2019 ‑ 2020 — 500,000 2,174,242 2,674,242 2021 ‑ 2022 — — 476,262 476,262 2023 and thereafter — 2,264,800 15,056,468 17,321,268 $ — $ 2,764,800 $ 18,669,882 $ 21,434,682

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The provision (benefit) for income taxes consists of the following: For the Years Ended December 31, 2017 2016 2015 Current Federal Income Tax $ (34,611 ) $ (3,440 ) $ 27,978 State and Local Income Tax 5,229 (443 ) 6,320 Foreign Income Tax 79,371 (1) 38,052 42,036 Subtotal 49,989 34,169 76,334 Deferred Federal Income Tax 178,449 (15,032 ) (19,133 ) State and Local Income Tax (424 ) 1,348 8,264 Foreign Income Tax (3,688 ) (1) 4,076 1,171 Subtotal 174,337 (9,608 ) (9,698 ) Total Income Taxes $ 224,326 $ 24,561 $ 66,636 (1) The foreign income tax provision was calculated on $171.6 million of pre-tax income generated in foreign jurisdictions. The 2017 Tax Act was signed into law making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a U.S. federal corporate tax rate decrease from 35% to 21% effective for tax years beginning after December 31, 2017, the transition of U.S. international taxation from a modified worldwide tax system to a territorial system, and a one-time transition tax on the mandatory deemed repatriation of cumulative foreign earnings as of December 31, 2017. The Company has calculated its best estimate of the impact of the 2017 Tax Act in its year end income tax provision in accordance with its understanding of the 2017 Tax Act and guidance available as of the date of this filing. As a result, KKR has recorded $97.9 million as an additional income tax expense in the fourth quarter of 2017, the period in which the legislation was enacted. The provisional amount that is related to the remeasurement of certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future was $96.4 million . The provisional amount that is related to the one-time transition tax on the mandatory deemed repatriation of foreign earnings is $3.1 million based on cumulative foreign earnings of $20.1 million . This amount is offset by the reversal of a deferred tax liability for unremitted foreign earnings and profits valued at $1.6 million . On December 22, 2017, Staff Accounting Bulletin No. 118 ("SAB 118") was issued to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the 2017 Tax Act. In accordance with SAB 118, the Company has determined that the $96.4 million of the deferred tax expense recorded in connection with the remeasurement of certain deferred tax assets and liabilities and the $1.5 million of expense, net of the reversal of the deferred tax liability related to unremitted foreign earnings, recorded in connection with the transition tax on the mandatory deemed repatriation of foreign earnings was a provisional amount and a reasonable estimate at December 31, 2017. Additional work is necessary to do a more detailed analysis of historical foreign earnings as well as potential correlative adjustments. Any subsequent adjustment to these amounts will be recorded to tax expense in the quarter of 2018 when the analysis is complete. The following table reconciles the U.S. Federal Statutory Tax Rate to the Effective Income Tax Rate: For the Years Ended December 31, 2017 2016 2015 Statutory U.S. Federal Income Tax Rate 35.00 % 35.00 % 35.00 % Income not attributable to KKR Management Holdings Corp. (1) (38.64 )% (42.68 )% (36.04 )% Foreign Income Taxes 2.62 % 4.32 % 0.81 % State and Local Income Taxes 0.05 % 0.05 % 0.21 % Compensation Charges Borne by KKR Holdings 6.29 % 8.20 % 1.92 % Change in Valuation Allowance 0.00 % (1.03 )% 0.29 % Impact of 2017 Tax Act 3.52 % 0.00 % 0.00 % Other (0.78 )% (1.34 )% (0.94 )% Effective Income Tax Rate 8.06 % 2.52 % 1.25 % (1) Represents primarily income attributable to (i) redeemable noncontrolling interests, (ii) noncontrolling interests and appropriated capital and (iii) investment income of certain entities and net carried interest of certain general partners of KKR investment funds that are not directly or indirectly owned by KKR Management Holdings L.P. The effective tax rate for 2017 was 8.06% , compared to 2.52% in 2016, an increase of 5.54% , which was impacted by several factors. The 2017 Tax Act was enacted on December 22, 2017, and as a result of the remeasurement of our deferred tax asset and the estimate of the one-time transition tax on unremitted earnings, our effective tax rate increased by 3.52% . Additionally, due to increased fee revenue at KKR Management Holdings Corp., a greater percentage of KKR's overall income was subject to U.S. federal and state tax than in prior years, increasing our effective tax rate by approximately 4.04% compared to 2016. Deferred income taxes reflect the net tax effects of temporary differences that may exist between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes using enacted tax rates in effect for the year in which the differences are expected to reverse. A summary of the tax effects of the temporary differences is as follows: December 31, 2017 (3) December 31, 2016 Deferred Tax Assets Fund Management Fees $ 51,662 $ 59,963 Equity Based Compensation 19,749 30,094 KKR Holdings Unit Exchanges (1) 93,229 156,624 Depreciation and Amortization 13,421 24,919 Federal Foreign Tax Credit 15,028 15,028 Interest Limitation Carryforward (2) — 13,494 Net Operating Loss Carryforwards 4,346 33,867 Other 5,875 12,599 Total Deferred Tax Assets before Valuation Allowance 203,310 346,588 Valuation Allowance (11,872 ) (9,768 ) Total Deferred Tax Assets 191,438 336,820 Deferred Tax Liabilities Investment Basis Differences / Net Unrealized Gains 59,494 49,872 Total Deferred Tax Liabilities 59,494 49,872 Total Deferred Taxes, Net $ 131,944 $ 286,948 (1) In connection with exchanges of KKR Holdings units into common units of KKR & Co. L.P., KKR records a deferred tax asset associated with an increase in KKR Management Holdings Corp.'s share of the tax basis of the tangible and intangible assets of KKR Management Holdings L.P. This amount is offset by an adjustment to record amounts due to KKR Holdings and principals under the tax receivable agreement, which is included within Due to Affiliates in the consolidated statements of financial condition. The net impact of these adjustments was recorded as an adjustment to equity at the time of the exchanges. (2) Represents interest expense limitations under IRC Section 163(j) (as existing prior to the 2017 Tax Act), which has an indefinite carryforward. (3) A provisional adjustment in the amount of $97.9 million was recorded to adjust our U.S. federal deferred income tax assets and liabilities as of December 31, 2017 in order to reflect the impact of the 2017 Tax Act. A majority of this charge was due to the reduction in the U.S. statutory corporate tax rate from 35% to 21% . Future realization of the above deferred tax assets is dependent on KKR generating sufficient taxable income within the period of time that the tax benefits are expected to reverse. KKR considers projections of taxable income in evaluating its ability to utilize those deferred tax assets. In projecting its taxable income, KKR begins with historical results and incorporates assumptions concerning the amount and timing of future pretax operating income. Those assumptions require significant judgment and are consistent with the plans and estimates that KKR uses to manage its business. As of December 31, 2017, KKR has a U.S. federal income tax net operating loss ("NOL") carryforward of $106.8 million and a cumulative state and local NOL carryforward of $14.3 million that will begin to expire in 2036. KKR intends to carry back its U.S. federal NOL to past years during 2018, and is reflecting the estimated refund amount related to the carryback within other assets as a prepaid tax. In addition, KKR has U.S. federal foreign tax credit ("FTC") carryforwards of $15.0 million as of December 31, 2017. The FTC carryforwards are related to taxes paid in foreign jurisdictions, which if not utilized, will begin to expire in 2024. KKR has determined that a portion of the FTC carryforwards will not ultimately be realized due to U.S. federal limitations on FTC utilization. Therefore, KKR has established a valuation allowance of $11.9 million as of December 31, 2017 against the deferred tax asset. For all other deferred tax assets, including net operating loss carryforwards, KKR has determined that it is more likely than not that they will be realized and that a valuation allowance is not needed as of December 31, 2017. KKR files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, KKR is subject to examination by U.S. federal and certain state, local and foreign tax regulators. As of December 31, 2017, the U.S. federal, state and local tax returns of KKR and its predecessor entities for the years 2011 through 2016 are open under general statute of limitations provisions and therefore subject to examination. At December 31, 2017, 2016 and 2015, KKR's unrecognized tax benefits, excluding related interest and penalties, were: For the Years Ended December 31, 2017 2016 2015 Unrecognized Tax Benefits, beginning of period $ 43,996 $ 22,792 $ 7,180 Gross increases in tax positions in prior periods — — — Gross decreases in tax positions in prior periods — (1,351 ) (116 ) Gross increases in tax positions in current period 4,406 22,810 15,959 Lapse of statute of limitations (232 ) (255 ) (231 ) Unrecognized Tax Benefits, end of period $ 48,170 $ 43,996 $ 22,792 If the above tax benefits were recognized it would reduce the annual effective income tax rate. KKR believes that there will not be a significant increase or decrease to the tax positions within 12 months of the reporting date. The unrecognized tax benefits are recorded in Accounts Payable, Accrued Expenses and Other Liabilities. KKR recognizes interest and penalties accrued related to unrecognized tax benefits as income tax expense. Related to the unrecognized tax benefits, KKR accrued penalties of $0.1 million and interest of $2.2 million during 2017 and in total, as of December 31, 2017, recognized a liability for penalties of $2.3 million and interest of $7.9 million . During 2016, penalties of $0.6 million and interest of $1.2 million were accrued and in total, as of December 31, 2016, recognized a liability for penalties of $2.3 million and interest of $5.7 million .

EQUITY BASED COMPENSATION

EQUITY BASED COMPENSATION	12 Months Ended
	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
EQUITY BASED COMPENSATION	EQUITY BASED COMPENSATION The following table summarizes the expense associated with equity based compensation for the years ended December 31, 2017 , 2016 and 2015, respectively. For the Years Ended December 31, 2017 2016 2015 Equity Incentive Plan Units $ 204,308 $ 186,227 $ 186,346 KKR Holdings Principal Awards 143,204 44,837 6,726 Other Exchangeable Securities — 12,091 16,119 KKR Holdings Restricted Equity Units — — 132 Total (1) $ 347,512 $ 243,155 $ 209,323 (1) Includes $11,214 of equity based charges for the year ended December 31, 2017 related to employees of equity method investees. Such amounts are included in Net Gains (Losses) from Investment Activities in the consolidated statements of operations. 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 awards are also subject to minimum retained ownership rules requiring the award recipient to continuously hold common unit equivalents equal to at least 15% of their cumulatively vested awards that have the minimum retained ownership requirement. 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. Beginning with the financial results reported for the first quarter of 2017, KKR has made equal quarterly distributions to common unitholders of $ 0.17 per common unit per quarter or $ 0.68 per year. Therefore, for units granted on or after January 1, 2017, the discount for lack of participation rights in the expected distributions on unvested units was based on the $ 0.68 annual distribution. KKR has made equal quarterly distributions to holders of its common units of $0 .16 per common unit per quarter or $ 0.64 per year in respect of financial results reported for the first quarter of 2016 through the fourth quarter of 2016. Accordingly, for units granted subsequent to December 31, 2015 but before January 1, 2017, the discount for the lack of participation rights in the expected distributions on unvested units was based on the $0.64 annual distribution. The discount range for awards granted prior to December 31, 2015 was based on management's estimates of future distributions that the unvested equity awards would not be entitled to receive between the grant date and the vesting date which ranged from 8% to 56% . Expense is recognized on a straight line basis over the life of the award and assumes a forfeiture rate of up to 7% annually based upon expected turnover by class of recipient. Market Condition Awards On November 2, 2017, KKR's Co-Presidents and Co-Chief Operating Officers were each granted 2.5 million KKR common units subject to a market-price based vesting condition ("Market Condition Awards"). These units were granted under the Equity Incentive Plan. All of such units will vest upon the market price of KKR common units reaching and maintaining a closing market price of $40 per unit for 10 consecutive trading days on or prior to December 31, 2022, subject to the employee's continued service to the time of such vesting. If the $40 price target is not achieved by the close of business on December 31, 2022, the unvested Market Condition Awards will be automatically canceled and forfeited. These Market Condition Awards are subject to additional transfer restrictions and minimum retained ownership requirements after vesting. Due to the existence of the market condition, the vesting period for the Market Condition Awards is not explicit, and as such, compensation expense will be recognized over the period derived from the valuation technique used to estimate the grant-date fair value of the award (the "Derived Vesting Period"). The fair value of the Market Condition Awards at the date of grant was $4.02 per unit based on a Monte-Carlo simulation valuation model due to the existence of the market condition described above. Below is a summary of the significant assumptions used to estimate the grant date fair value of the Market Condition Awards. Closing KKR unit price as of valuation date $19.90 Risk Free Rate 2.02 % Volatility 25.00 % Dividend Yield 3.42 % Expected Cost of Equity 11.02 % In addition, the grant date fair value assumes that holders of the Market Condition Awards will not participate in distributions until such awards have met their vesting requirements. Compensation expense is recognized over the Derived Vesting Period, which was estimated to be 3 years from the date of grant, on a straight-line basis. As of December 31, 2017, there was approximately $19.0 million of estimated unrecognized compensation expense related to unvested Market Condition Awards and such awards did not meet their market-price based vesting condition. As of December 31, 2017 , there was approximately $538.1 million of total estimated unrecognized expense related to unvested awards, including Market Condition Awards. That cost is expected to be recognized as follows: Year Unrecognized Expense 2018 227.5 2019 163.9 2020 103.0 2021 33.6 2022 9.2 2023 0.9 Total $ 538.1 A summary of the status of unvested awards granted under the Equity Incentive Plan, excluding Market Condition Awards as described above, from January 1, 2017 through December 31, 2017 is presented below: Units Weighted Average Grant Date Fair Value Balance, January 1, 2017 37,498,333 $ 13.85 Granted 24,209,434 16.45 Vested (12,077,165 ) 14.79 Forfeitures and Other (3,207,869 ) 13.52 Balance, December 31, 2017 46,422,733 $ 14.98 The weighted average remaining vesting period over which unvested awards are expected to vest is 1.6 years . A summary of the remaining vesting tranches of awards granted under the Equity Incentive Plan is presented below: Vesting Date Units April 1, 2018 10,477,750 October 1, 2018 5,810,795 April 1, 2019 9,523,248 October 1, 2019 4,385,817 April 1, 2020 6,588,617 October 1, 2020 3,297,528 April 1, 2021 3,309,863 October 1, 2021 1,830,239 April 1, 2022 116,532 October 1, 2022 991,172 October 1, 2023 91,172 46,422,733 KKR Holdings Awards KKR Holdings units are exchangeable for KKR Group Partnership Units and allow for their exchange into common units of KKR & Co. L.P. on a one -for one basis. As of December 31, 2017 and 2016, KKR Holdings owned approximately 40.9% or 335,971,334 units and 43.9% or 353,757,398 units, respectively, of outstanding KKR Group Partnership Units. Awards for KKR Holdings units that have been granted are generally subject to service based vesting, typically over a three to five year period from the date of grant. They are also generally subject to transfer restrictions which last 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, the recipients are also subject to minimum retained ownership rules requiring them to continuously hold 25% of their vested interests. Upon separation from KKR, award recipients are subject to the terms of a confidentiality and restrictive covenants agreement that would require the forfeiture of certain vested and unvested units should the terms of the agreement be violated. Holders of KKR Holdings units are not entitled to participate in distributions made on KKR Group Partnership Units underlying their KKR Holdings units until such units are vested. Because KKR Holdings is a partnership, all of the 335,971,334 KKR Holdings units have been legally allocated, but the allocation of 199,929 of these units has not been communicated to each respective principal and the final allocation and terms of vesting for these units are subject to change and the exercise of judgment by the general partner of KKR Holdings. It was therefore determined that the grant date and service inception date had not occurred and these units do not yet meet the criteria for recognition of compensation expense. The fair value of awards granted out of KKR Holdings is generally 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, 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. In February 2016, approximately 28.9 million KKR Holdings units were granted that were originally subject to market condition and service-based vesting that were subsequently modified in November 2016 to eliminate the market condition vesting and instead require only service-based vesting in equal annual installments over a five year period. At the date of modification, total future compensation expense amounted to $320.9 million , net of estimated forfeitures, to be recognized over the remaining vesting period of the modified awards. The awards described above were granted from outstanding but previously unallocated units of KKR Holdings, and consequently these grants did not increase the number of KKR Holdings units outstanding or outstanding KKR common units on a fully-diluted basis. If and when vested, these awards will not dilute KKR's respective ownership interests in the KKR Group Partnerships. KKR Holdings Awards give rise to equity-based compensation in the consolidated statements of operations based on the grant-date fair value of the award discounted for the lack of participation rights in the expected distributions on unvested units. Beginning with the financial results reported for the first quarter of 2017, KKR intends to make quarterly distributions to common unitholders of $ 0.17 per common unit per quarter or $ 0.68 per year. Therefore, for awards granted on or after January 1, 2017, the discount for lack of participation rights in the expected distributions on unvested units is based on the $ 0.68 annual distribution. KKR has made equal quarterly distributions to holders of its common units of $0.16 per common unit per quarter or $0.64 per year in respect of financial results reported for the first quarter of 2016 through the fourth quarter of 2016. Accordingly, for awards granted subsequent to December 31, 2015 but before January 1, 2017, the discount for the lack of participation rights in the expected distributions on unvested units was based on the $0.64 annual distribution. Expense is recognized on a straight line basis over the life of the award and assumes a forfeiture rate of up to 7% annually based on expected turnover by class of recipient. As of December 31, 2017 , there was approximately $358.4 million of estimated unrecognized expense related to unvested KKR Holdings awards. That cost is expected to be recognized as follows: Year Unrecognized Expense 2018 $ 101.5 2019 96.2 2020 88.1 2021 47.4 2022 25.2 Total $ 358.4 A summary of the status of unvested awards granted under the KKR Holdings Plan from January 1, 2017 through December 31, 2017 is presented below: Units Weighted Average Grant Date Fair Value Balance, January 1, 2017 28,245,886 $ 12.10 Granted 14,700,000 17.64 Vested (6,062,425 ) 13.87 Forfeitures and Other (6,034,878 ) 11.94 Balance, December 31, 2017 30,848,583 $ 14.42 The weighted average remaining vesting period over which unvested awards are expected to vest is 2.4 years. A summary of the remaining vesting tranches of awards granted under the KKR Holdings Plan is presented below: Vesting Date Units April 1, 2018 574,590 May 1, 2018 3,805,000 October 1, 2018 1,970,000 April 1, 2019 229,514 May 1, 2019 3,805,000 October 1, 2019 2,455,000 April 1, 2020 124,479 May 1, 2020 3,805,000 October 1, 2020 2,940,000 May 1, 2021 3,805,000 October 1, 2021 3,425,000 October 1, 2022 3,910,000 30,848,583 Other Exchangeable Securities As of October 1, 2016, all 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 issued in connection with the acquisition of Avoca ("Other Exchangeable Securities") have either vested or were forfeited, and there is no unrecognized expense associated with Other Exchangeable Securities as of December 31, 2017 .

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Due from Affiliates consists of: December 31, 2017 December 31, 2016 Amounts due from portfolio companies $ 129,594 $ 66,940 Amounts due from unconsolidated investment funds 415,907 170,219 Amounts due from related entities 8,848 13,293 Due from Affiliates $ 554,349 $ 250,452 Due to Affiliates consists of: December 31, 2017 December 31, 2016 Amounts due to KKR Holdings in connection with the tax receivable agreement $ 84,034 $ 128,091 Amounts due to unconsolidated investment funds 239,776 231,388 Due to Affiliates $ 323,810 $ 359,479 Tax Receivable Agreement KKR and certain intermediate holding companies that are taxable corporations for U.S. federal, state and local income tax purposes, may be required to acquire KKR Group Partnership Units from time to time pursuant to the exchange agreement with KKR Holdings. KKR Management Holdings L.P. made an election under Section 754 of the Internal Revenue Code of 1986, as amended, that will remain in effect for each taxable year in which an exchange of KKR Group Partnership Units for common units occurs, which may result in an increase in KKR's intermediate holding companies' share of the tax basis of the assets of the KKR Group Partnerships at the time of an exchange of KKR Group Partnership Units. Certain of these exchanges are expected to result in an increase in KKR's intermediate holding companies' share of the tax basis of the tangible and intangible assets of the KKR Group Partnerships, primarily attributable to a portion of the goodwill inherent in KKR's business that would not otherwise have been available. This increase in tax basis may increase depreciation and amortization deductions for tax purposes and therefore reduce the amount of income tax KKR's intermediate holding companies would otherwise be required to pay in the future. This increase in tax basis may also decrease gain (or increase loss) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. KKR has entered into a tax receivable agreement with KKR Holdings, which requires KKR's intermediate holding companies to pay to KKR Holdings, or to current and former principals who have exchanged KKR Holdings units for KKR common units (as transferees of KKR Group Partnership Units), 85% of the amount of cash savings, if any, in U.S. federal, state and local income tax that the intermediate holding companies realize as a result of the increase in tax basis described above, as well as 85% of the amount of any such savings the intermediate holding companies realize as a result of increases in tax basis that arise due to future payments under the agreement. A termination of the agreement or a change of control could give rise to similar payments based on tax savings that KKR would be deemed to realize in connection with such events. In the event that other of KKR's current or future subsidiaries become taxable as corporations and acquire KKR Group Partnership Units in the future, or if KKR becomes taxable as a corporation for U.S. federal income tax purposes, KKR expects that each will become subject to a tax receivable agreement with substantially similar terms. These payment obligations are obligations of KKR's intermediate holding companies and not the KKR Group Partnerships and are recorded within Due to Affiliates in the accompanying consolidated statements of financial condition. As such, cash payments received by common unitholders may vary from those received by holders of KKR Group Partnership Units held by KKR Holdings and KKR's current and former principals to the extent payments are made to those parties under the tax receivable agreement. Payments made under the tax receivable agreement are required to be made within 90 days of the filing of the tax returns of KKR's intermediate holding companies which may result in a timing difference between the tax savings received by KKR's intermediate holdings companies and the cash payments made to the selling holders of KKR Group Partnership Units. As a result of the 2017 Tax Act, which lowered the federal corporate tax rate from 35% to 21%, expected future cash savings generated as a result of KKR Holdings exchanges are expected to decrease. Accordingly, KKR has decreased the liability associated with the tax receivable agreement to reflect lower future payments to individuals who exchanged KKR Holdings units for KKR common units. The amount of this reduction was $67.2 million and is included in Net Gains (Losses) from Investment Activities in the consolidated statements of operations. For the year ended December 31, 2017, no cash payments have been made under the tax receivable agreement. For the years ended December 31, 2016 and 2015, cash payments that have been made under the tax receivable agreement were $5.0 million and $5.7 million , respectively. KKR expects its intermediate holding companies to benefit from the remaining 15% of cash savings, if any, in income tax that they realize. As of December 31, 2017, $4.2 million of cumulative income tax savings have been realized. Discretionary Investments Certain of KKR's current and former employees and other qualifying personnel are permitted to invest, and have invested, their own capital in KKR's funds, in side-by-side investments with these funds and the firm, as well as in funds managed by its strategic manager partnerships. Side-by-side investments are made on the same terms and conditions as those acquired by the applicable fund or the firm, except that the side-by-side investments do not subject the investor to management fees or a carried interest. The cash contributed by these individuals aggregated $505.1 million , $328.3 million and $434.9 million for the years ended December 31, 2017, 2016 and 2015, respectively. Aircraft and Other Services Certain of the senior employees own aircraft that KKR uses for business purposes in the ordinary course of its operations. These senior employees paid for the purchase of these aircraft with personal funds and bear all operating, personnel and maintenance costs associated with their operation. The hourly rates that KKR pays for the use of these aircraft are based on current market rates for chartering private aircraft of the same type. KKR incurred $3.9 million , $5.1 million and $4.4 million for the use of these aircraft for the years ended December 31, 2017, 2016 and 2015, respectively. Facilities Certain trusts, whose beneficiaries include children of Mr. Kravis and Mr. Roberts, and certain other senior employees who are not executive officers of KKR, are partners in a real-estate based partnership that maintains an ownership interest in KKR's Menlo Park location. Payments made to this partnership were $7.6 million , $7.4 million and $7.3 million for the years ended December 31, 2017, 2016 and 2015, respectively.

SEGMENT REPORTING

SEGMENT REPORTING	12 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING KKR operates through four reportable business segments. These segments, which are differentiated primarily by their business objectives and investment strategies, are presented below. These financial results represent the combined financial results of the KKR Group Partnerships on a segment basis. KKR earns the majority of its fees from subsidiaries located in the United States. Private Markets Through KKR's Private Markets segment, KKR manages and sponsors private equity funds and co-investment vehicles, which invest capital for long-term appreciation, either through controlling ownership of a company or strategic minority positions. KKR also manages and sponsors investment funds and co-investment vehicles that invest capital in real assets, such as infrastructure, energy and real estate. Public Markets KKR operates and reports its combined credit and hedge funds businesses through the Public Markets segment. KKR's credit business invests capital in leveraged credit strategies, including leveraged loans, high-yield bonds, opportunistic credit and revolving credit strategies, and alternative credit strategies including special situations and private credit opportunities, such as direct lending and private opportunistic credit investment strategies. KKR's hedge funds business consists of strategic manager partnerships with third-party hedge fund managers in which KKR owns a minority stake. Capital Markets 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, placing and underwriting securities offerings and providing other types of capital markets services. Principal Activities Through KKR's Principal Activities segment, KKR manages the firm's assets and deploy capital to support and grow its businesses. KKR's Principal Activities segment uses its balance sheet assets to support KKR's investment management and capital markets businesses, including to make capital commitments as general partner to its funds, to seed new businesses or investments for new funds or to bridge capital selectively for its funds' investments. The Principal Activities segment also provides the required capital to fund the various commitments of KKR's Capital Markets business or to meet regulatory capital requirements. 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. The following tables present the financial data for KKR's reportable segments: As of and for the Year Ended December 31, 2017 Private Markets Public Markets Capital Markets Principal Activities Total Segment Revenues Management, Monitoring and Transaction Fees, Net Management Fees $ 575,451 $ 329,737 $ — $ — $ 905,188 Monitoring Fees 81,021 — — — 81,021 Transaction Fees 288,879 48,370 439,998 — 777,247 Fee Credits (220,710 ) (40,719 ) — — (261,429 ) Total Management, Monitoring and Transaction Fees, Net 724,641 337,388 439,998 — 1,502,027 Performance Income (Loss) Realized Incentive Fees — 73,395 — — 73,395 Realized Carried Interest 1,198,981 — — — 1,198,981 Unrealized Carried Interest 520,807 79,435 — — 600,242 Total Performance Income (Loss) 1,719,788 152,830 — — 1,872,618 Investment Income (Loss) Net Realized Gains (Losses) — — — 194,020 194,020 Net Unrealized Gains (Losses) — — — 395,358 395,358 Total Realized and Unrealized — — — 589,378 589,378 Interest Income and Dividends — — — 285,696 285,696 Interest Expense — — — (181,612 ) (181,612 ) Net Interest and Dividends — — — 104,084 104,084 Total Investment Income (Loss) — — — 693,462 693,462 Total Segment Revenues 2,444,429 490,218 439,998 693,462 4,068,107 Segment Expenses Compensation and Benefits Cash Compensation and Benefits 261,123 63,637 80,093 140,134 544,987 Realized Performance Income Compensation 504,092 29,358 — — 533,450 Unrealized Performance Income Compensation 213,785 33,816 — — 247,601 Total Compensation and Benefits 979,000 126,811 80,093 140,134 1,326,038 Occupancy and Related Charges 32,458 6,478 2,747 14,727 56,410 Other Operating Expenses 137,055 31,317 20,513 54,887 243,772 Total Segment Expenses 1,148,513 164,606 103,353 209,748 1,626,220 Income (Loss) attributable to noncontrolling interests — — 6,551 — 6,551 Economic Net Income (Loss) $ 1,295,916 $ 325,612 $ 330,094 $ 483,714 $ 2,435,336 Total Assets $ 2,313,801 $ 1,534,027 $ 484,792 $ 11,428,692 $ 15,761,312 As of and for the Year Ended December 31, 2016 Private Markets Public Markets Capital Markets Principal Activities Total Segment Revenues Management, Monitoring and Transaction Fees, Net Management Fees $ 466,422 $ 331,440 $ — $ — $ 797,862 Monitoring Fees 64,354 — — — 64,354 Transaction Fees 132,602 30,155 181,517 — 344,274 Fee Credits (103,579 ) (28,049 ) — — (131,628 ) Total Management, Monitoring and Transaction Fees, Net 559,799 333,546 181,517 — 1,074,862 Performance Income (Loss) Realized Incentive Fees — 33,346 — — 33,346 Realized Carried Interest 1,252,370 3,838 — — 1,256,208 Unrealized Carried Interest (416,060 ) (4,312 ) — — (420,372 ) Total Performance Income (Loss) 836,310 32,872 — — 869,182 Investment Income (Loss) Net Realized Gains (Losses) — — — 371,563 371,563 Net Unrealized Gains (Losses) — — — (584,423 ) (584,423 ) Total Realized and Unrealized — — — (212,860 ) (212,860 ) Interest Income and Dividends — — — 322,857 322,857 Interest Expense — — — (188,761 ) (188,761 ) Net Interest and Dividends — — — 134,096 134,096 Total Investment Income (Loss) — — — (78,764 ) (78,764 ) Total Segment Revenues 1,396,109 366,418 181,517 (78,764 ) 1,865,280 Segment Expenses Compensation and Benefits Cash Compensation and Benefits 194,240 77,017 29,552 94,207 395,016 Realized Performance Income Compensation 523,448 14,873 — — 538,321 Unrealized Performance Income Compensation (159,786 ) (1,724 ) — — (161,510 ) Total Compensation and Benefits 557,902 90,166 29,552 94,207 771,827 Occupancy and Related Charges 35,785 9,517 2,474 14,624 62,400 Other Operating Expenses 135,425 38,439 14,994 45,490 234,348 Total Segment Expenses 729,112 138,122 47,020 154,321 1,068,575 Income (Loss) attributable to noncontrolling interests — — 2,336 — 2,336 Economic Net Income (Loss) $ 666,997 $ 228,296 $ 132,161 $ (233,085 ) $ 794,369 Total Assets $ 1,645,364 $ 1,123,103 $ 354,187 $ 10,210,487 $ 13,333,141 As of and for the Year Ended December 31, 2015 Private Markets Public Markets Capital Markets Principal Activities Total Segment Revenues Management, Monitoring and Transaction Fees, Net Management Fees $ 465,575 $ 266,458 $ — $ — $ 732,033 Monitoring Fees 264,643 — — — 264,643 Transaction Fees 144,652 28,872 191,470 — 364,994 Fee Credits (195,025 ) (24,595 ) — — (219,620 ) Total Management, Monitoring and Transaction Fees, Net 679,845 270,735 191,470 — 1,142,050 Performance Income (Loss) Realized Incentive Fees — 19,647 — — 19,647 Realized Carried Interest 1,018,201 8,953 — — 1,027,154 Unrealized Carried Interest 182,628 (19,083 ) — — 163,545 Total Performance Income (Loss) 1,200,829 9,517 — — 1,210,346 Investment Income (Loss) Net Realized Gains (Losses) — — — 337,023 337,023 Net Unrealized Gains (Losses) — — — (391,962 ) (391,962 ) Total Realized and Unrealized — — — (54,939 ) (54,939 ) Interest Income and Dividends — — — 411,536 411,536 Interest Expense — — — (203,085 ) (203,085 ) Net Interest and Dividends — — — 208,451 208,451 Total Investment Income (Loss) — — — 153,512 153,512 Total Segment Revenues 1,880,674 280,252 191,470 153,512 2,505,908 Segment Expenses Compensation and Benefits Cash Compensation and Benefits 193,995 73,863 34,562 107,572 409,992 Realized Performance Income Compensation 407,280 11,438 — — 418,718 Unrealized Performance Income Compensation 74,560 (7,633 ) — — 66,927 Total Compensation and Benefits 675,835 77,668 34,562 107,572 895,637 Occupancy and Related Charges 33,640 9,808 2,641 16,568 62,657 Other Operating Expenses 127,836 40,591 14,618 50,573 233,618 Total Segment Expenses 837,311 128,067 51,821 174,713 1,191,912 Income (Loss) attributable to noncontrolling interests 1,645 1,259 13,103 — 16,007 Economic Net Income (Loss) $ 1,041,718 $ 150,926 $ 126,546 $ (21,201 ) $ 1,297,989 Total Assets $ 1,831,716 $ 1,232,404 $ 521,927 $ 9,843,251 $ 13,429,298 The following tables reconcile the most directly comparable financial measures calculated and presented in accordance with GAAP to KKR's total reportable segments: Fees and Other For the Years Ended December 31, 2017 2016 2015 Fees and Other $ 3,282,265 $ 1,908,093 $ 1,043,768 Plus: Management fees relating to consolidated funds and placement fees 204,943 178,619 531,027 Less: Fee credits relating to consolidated funds 4,028 2,921 202,269 Plus: Net realized and unrealized carried interest - consolidated funds 58,562 32,651 1,190,699 Plus: Total investment income (loss) 693,462 (78,764 ) 153,512 Less: Revenue earned by oil & gas producing entities 63,460 65,754 112,328 Less: Reimbursable expenses 123,144 81,549 66,144 Less: Other (19,507 ) 25,095 32,357 Total Segment Revenues $ 4,068,107 $ 1,865,280 $ 2,505,908 Expenses For the Years Ended December 31, 2017 2016 2015 Total Expenses $ 2,336,692 $ 1,695,474 $ 1,871,225 Less: Equity based compensation 334,821 264,890 261,579 Less: Reimbursable expenses and placement fees 181,839 148,483 103,307 Less: Operating expenses relating to consolidated funds, CFEs and other entities 82,888 104,339 65,012 Less: Expenses incurred by oil & gas producing entities 46,411 70,312 153,611 Less: Intangible amortization 17,821 6,647 49,766 Less: Other 46,692 32,228 46,038 Total Segment Expenses $ 1,626,220 $ 1,068,575 $ 1,191,912 Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders For the Years Ended December 31, 2017 2016 2015 Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders $ 984,941 $ 287,072 $ 488,482 Plus: Preferred Distributions 33,364 22,235 — Plus: Net income (loss) attributable to noncontrolling interests held by KKR Holdings L.P. 791,021 212,878 433,693 Plus: Non-cash equity-based charges 346,035 264,890 261,579 Plus: Amortization of intangibles, placement fees and other, net (1) 122,870 (17,267 ) 47,599 Less: Gain from remeasurement of tax receivable agreement liability (2) (67,221 ) — — Plus: Income tax (benefit) 224,326 24,561 66,636 Economic Net Income (Loss) $ 2,435,336 $ 794,369 $ 1,297,989 (1) Other primarily represents the statement of operations impact of the accounting convention differences for (i) direct interests in oil & natural gas properties outside of investment funds and (ii) certain interests in consolidated CLOs and other entities. On a segment basis, direct interests in oil & natural gas properties outside of investment funds are carried at fair value with changes in fair value recorded in Economic Net Income (Loss) and certain interests in consolidated CLOs and other entities are carried at cost. See Note 2 "Summary of Significant Accounting Policies" for the GAAP accounting for these direct interests in oil and natural gas producing properties outside investment funds and interests in consolidated CLOs and other entities. (2) Represents the impacts of the remeasurement of the tax receivable agreement which arises from changes in the associated deferred tax balance, including the impacts related to the 2017 Tax Act. The items that reconcile KKR's total reportable segments to the corresponding consolidated amounts calculated and presented in accordance with GAAP for net income (loss) attributable to redeemable noncontrolling interests and income (loss) attributable to noncontrolling interests are primarily attributable to the impact of KKR Holdings L.P., KKR's consolidated funds and certain other entities. Assets December 31, 2017 December 31, 2016 Total Assets $ 45,834,719 $ 39,002,897 Less: Impact of consolidation of funds and other entities (1) 28,659,078 24,367,570 Less: Carry pool reclassification from liabilities 1,220,559 987,994 Less: Impact of KKR Management Holdings Corp. 193,770 314,192 Total Segment Assets $ 15,761,312 $ 13,333,141 (1) Includes accounting basis difference for oil & natural gas properties of $25,042 and $15,242 as of December 31, 2017 and 2016, respectively.

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2017
Equity [Abstract]
EQUITY	EQUITY Transfer of Interests Under Common Control and Other On March 30, 2017, KKR reorganized KKR's Indian capital markets and credit asset management businesses, to create KKR India Financial Investments Pte. Ltd. ("KIFL"). This reorganization transaction was accounted for as a transfer of interests under common control, and the difference between KKR's carrying value before and after the transaction was treated as a reallocation of equity interests. No gain or loss was recognized in the consolidated financial statements. On November 24, 2017, KIFL issued equity to an unaffiliated third-party. This transaction was accounted for as a subsidiary's direct issuance of its equity to third-parties, and the difference between KKR's carrying value before and after the transaction was treated as a reallocation of equity interests. No gain or loss was recognized in the consolidated financial statements. Both transactions above resulted in an increase to KKR's equity and to noncontrolling interests held by KKR Holdings. Unit Repurchase Program KKR has a total of $750.0 million authorized to repurchase its common units, of which $459.0 million has been spent to repurchase 31.7 million common units as of February 21, 2018. Under this common unit repurchase program, common units may be repurchased from time to time in open market transactions, in privately negotiated transactions or otherwise. The timing, manner, price and amount of any unit repurchases will be determined by KKR in its discretion and will depend on a variety of factors, including legal requirements, price and economic and market conditions. KKR expects that the program, which has no expiration date, will be in effect until the maximum approved dollar amount has been used to repurchase common units. The program does not require KKR to repurchase any specific number of common units, and the program may be suspended, extended, modified or discontinued at any time. See consolidated statements of changes in equity for the amount of common units repurchased during the years ended December 31, 2016 and 2015. There were no common units repurchased pursuant to this program during the year ended December 31, 2017 . Distribution Policy Under KKR's distribution policy for its common units, KKR intends to make equal quarterly distributions to holders of its common units in an amount of $0.17 per common unit per quarter. The declaration and payment of any distributions are subject to the discretion of the board of directors of the general partner of KKR and the terms of its limited partnership agreement. There can be no assurance that distributions will be made as intended or at all, that unitholders will receive sufficient distributions to satisfy payment of their tax liabilities as limited partners of KKR or that any particular distribution policy will be maintained. Preferred Units On March 17, 2016, KKR & Co. L.P. issued 13,800,000 units of 6.75% Series A Preferred Units, and on June 20, 2016, KKR issued 6,200,000 units of 6.50% Series B Preferred Units, in each case, in an underwritten public offering. The Series A Preferred Units and Series B Preferred Units trade on the NYSE under the symbols "KKR PR A" and "KKR PRA B", respectively. The terms of the preferred units are set forth in the limited partnership agreement of KKR & Co. L.P. If declared, distributions on the preferred units are payable quarterly on March 15, June 15, September 15 and December 15 of each year, at a rate per annum equal to 6.75% , in the case of the Series A Preferred Units and 6.50% in the case of the Series B Preferred Units. Distributions on the preferred units are discretionary and non-cumulative. Holders of preferred units will only receive distributions on such units when, as and if declared by the board of directors of the general partner of KKR & Co. L.P. We have no obligation to declare or pay any distribution for any distribution period, whether or not distributions on any series of preferred units are declared or paid for any other distribution period. Unless distributions have been declared and paid (or declared and set apart for payment) on the preferred units for a quarterly distribution period, we may not declare or pay distributions on, or repurchase, any units of KKR & Co. L.P. that are junior to the preferred units, including our common units, during such distribution period. A distribution period begins on a distribution payment date and extends to, but excludes, the next distribution payment date. If KKR & Co. L.P. dissolves, then the holders of the Series A Preferred Units and Series B Preferred Units are entitled to receive payment of a $25.00 liquidation preference per preferred unit, plus declared and unpaid distributions, if any, to the extent that we have sufficient gross income (excluding any gross income attributable to the sale or exchange of capital assets) such that holders of such preferred units have capital account balances equal to such liquidation preference, plus declared and unpaid distributions, if any. The Series A and Series B Preferred Units do not have a maturity date. However, the Series A Preferred Units may be redeemed at our option, in whole or in part, at any time on or after June 15, 2021, at a price of $25.00 per Series A Preferred Unit, plus declared and unpaid distributions, if any. The Series B Preferred Units may be redeemed at our option, in whole or in part, at any time on or after September 15, 2021, at a price of $25.00 per Series B Preferred Unit, plus declared and unpaid distributions, if any. Holders of preferred units have no right to require the redemption of such units. If a certain change of control event with a ratings downgrade occurs prior to June 15, 2021, the Series A Preferred Units may be redeemed at our option, in whole but not in part, upon at least 30 days' notice, within 60 days of the occurrence of such change of control event, at a price of $25.25 per Series A Preferred Unit, plus declared and unpaid distributions, if any. If a certain change of control event with a ratings downgrade occurs prior to September 15, 2021, the Series B Preferred Units may be redeemed at our option, in whole but not in part, upon at least 30 days' notice, within 60 days of the occurrence of such change of control event, at a price of $25.25 per Series B Preferred Unit, plus declared and unpaid distributions, if any. If such a change of control event occurs (whether before, on or after June 15, 2021, in the case of the Series A Preferred Units and September 15, 2021, in the case of the Series B Preferred Units) and we do not give such notice, the distribution rate per annum on the applicable series of preferred units will increase by 5.00% , beginning on the 31st day following such change of control event. The Series A and Series B Preferred Units are not convertible into common units of KKR & Co. L.P. and have no voting rights, except that holders of preferred units have certain voting rights in limited circumstances relating to the election of directors following the failure to declare and pay distributions, certain amendments to the terms of the preferred units, and the creation of preferred units that are senior to the Series A Preferred Units and Series B Preferred Units. In connection with the issuance of the preferred units, the KKR Group Partnerships issued for the benefit of KKR & Co. L.P. two series of preferred units with economic terms that mirror those of each series of preferred units.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill As of December 31, 2016 , the carrying value of goodwill was $89.0 million , which was allocated to Public Markets and Principal Activities in the amounts of $59.0 million and $30.0 million , respectively. As part of the PAAMCO Prisma transaction that occurred on June 1, 2017, goodwill of $5.5 million was included in determining the gain on the contribution of Prisma Capital Partners LP and its affiliates to PAAMCO Prisma Holdings LLC. In accordance with ASC 350, the amount of goodwill included in the gain calculation was based on the relative fair values of Prisma Capital Partners LP and its affiliates, which was integrated in Public Markets, and the remaining portion of Public Markets. Subsequent to this transaction the remaining carrying value of goodwill in Public Markets and Principal Activities is $53.5 million and $30.0 million , respectively, as of December 31, 2017 . Goodwill is recorded in Other Assets in the consolidated statements of financial condition. All of the goodwill is currently expected to be deductible for tax purposes. See Note 8 "Other Assets and Accounts Payable, Accrued Expenses and Other Liabilities." Intangible Assets Intangible Assets, Net consists of the following: December 31, 2017 December 31, 2016 Finite-Lived Intangible Assets $ 190,526 $ 251,768 Accumulated Amortization (61,348 ) (116,744 ) Intangible Assets, Net $ 129,178 $ 135,024 Changes in Intangible Assets, Net consists of the following: For the Years Ended December 31, 2017 2016 Balance, Beginning of Period $ 135,024 $ 176,987 Amortization Expense (17,811 ) (26,387 ) Foreign Exchange 2,173 (160 ) Additions (1) 115,425 — Write-Offs (2) — (15,416 ) Other (3) (105,633 ) — Balance, End of Period $ 129,178 $ 135,024 (1) Represents acquired investment management contractual rights. (2) Represents the write-off of certain investment management contractual rights. (3) Represents the removal of intangible assets in connection with the PAAMCO Prisma transaction. Amortization expense including foreign exchange relating to intangible assets held at December 31, 2017 is expected to be as follows: 2018 $ 16,401 2019 13,328 2020 13,160 2021 12,590 2022 12,475 2023 and thereafter 61,224 $ 129,178 The intangible assets as of December 31, 2017 are expected to amortize over a weighted‑average period of 9.6 years.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2017
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 as of December 31, 2017 . KKR is in compliance with its debt covenants in all material respects as of December 31, 2017 . Funding Commitments As of December 31, 2017 , KKR had unfunded commitments consisting of $5,697.0 million to its active private equity and other investment vehicles. In addition to the uncalled commitments to KKR's investment funds, KKR has entered into contractual commitments with respect to (i) the purchase of investments and other assets in its Principal Activities segment, and (ii) underwriting transactions, debt financing, and syndications in KKR's Capital Markets segment. As of December 31, 2017 , these commitments amounted to $750.7 million and $731.8 million , respectively. Whether these amounts are actually funded, in whole or in part, depends on the contractual terms of such commitments, including the satisfaction or waiver of any conditions to closing or funding. The unfunded commitments shown for KKR's Capital Markets segment are shown without reflecting arrangements that may reduce the actual amount of contractual commitments shown; KKR's capital market business has an arrangement with a third party, which reduces its risk when underwriting certain debt transactions. In the case of purchases of investments or assets in its Principal Activities segment, the amount to be funded includes amounts that are intended to be syndicated to third parties, and the actual amounts to be funded may be less than shown. Strategic Business Development Company ("BDC") Partnership with FS Investments Corporation On December 11, 2017, KKR announced a definitive agreement to form a new strategic BDC partnership with FS Investment Corporation. This transaction would be completed through a combination of cash and other assets and is anticipated to close during 2018, subject to stockholder approvals and the satisfaction of certain other closing conditions. Non-cancelable Operating Leases KKR's non-cancelable operating leases consist primarily of leases of office space around the world. There are no material rent holidays, contingent rent, rent concessions or leasehold improvement incentives associated with any of these property leases. In addition to base rentals, certain lease agreements are subject to escalation provisions and rent expense is recognized on a straight‑line basis over the term of the lease agreement. As of December 31, 2017 , the approximate aggregate minimum future lease payments, net of sublease income, required on the operating leases are as follows: 2018 $ 51,203 2019 49,233 2020 45,544 2021 13,618 2022 and thereafter 23,817 Total minimum payments required $ 183,415 Contingent Repayment Guarantees The partnership documents governing KKR's carry-paying funds, including funds relating to private equity, infrastructure, energy, real estate, mezzanine, 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 December 31, 2017 , $19.2 million of carried interest was subject to this clawback obligation, assuming that all applicable carry-paying funds were liquidated at their December 31, 2017 fair values. Had the investments in such funds been liquidated at zero value, the clawback obligation would have been $1,920.9 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 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. 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 made to date, however, it is no longer possible for the principals to be required to pay any such clawback obligation. 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. In addition, guarantees of or similar arrangements relating to clawback 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 and Other Guarantees KKR may incur contingent liabilities for claims that may be made against it in the future. KKR enters into contracts that contain a variety of representations, warranties and covenants, including indemnifications. For example, certain of KKR's investment funds and KFN have provided certain indemnities relating to environmental and other matters and have 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. In addition, KKR has also provided credit support to certain of its subsidiaries' obligations in connection with a limited number of investment vehicles that KKR manages. For example, KKR has guaranteed the obligations of a general partner to post collateral on behalf of its investment vehicle in connection with such vehicle's derivative transactions, and KKR has also agreed to be liable for certain investment losses and/or for providing liquidity in the events specified in the governing documents of other investment vehicles. KKR has also provided credit support regarding repayment obligations to third-party lenders to certain of its employees, excluding its executive officers, in connection with their personal investments in KKR investment funds and to a strategic partner regarding the ownership of its business. KKR also may become liable for certain fees payable to sellers of businesses or assets if a transaction does not close, subject to certain conditions, if any, specified in the acquisition agreements for such businesses or assets. KKR's maximum exposure under these arrangements is currently unknown and KKR's liabilities for these matters would require a claim to be made against KKR in the future. 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. In December 2017, KKR & Co. L.P. and its Co-Chief Executive Officers were named as defendants in a lawsuit pending in Kentucky state court alleging, among other things, the violation of fiduciary and other duties in connection with certain separately managed accounts that Prisma Capital Partners LP, a former subsidiary of KKR, manages for the Kentucky Retirement Systems. Also named as defendants in the lawsuit are certain current and former trustees and officers of the Kentucky Retirement Systems, Prisma Capital Partners LP, and various other service providers to the Kentucky Retirement Systems and their related persons. 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 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, criminal or administrative proceedings against KKR or its personnel. 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 may be subject to many uncertainties, including among others (i) the proceedings may be in early stages; (ii) damages sought may be unspecified, unsupportable, unexplained or uncertain; (iii) discovery may not have been started or is incomplete; (iv) there may be uncertainty as to the outcome of pending appeals or motions; (v) there may be significant factual issues to be resolved; or (vi) there may be 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. 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 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 REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS	12 Months Ended
	Dec. 31, 2017
REGULATORY CAPITAL REQUIREMENTS
REGULATORY CAPITAL REQUIREMENTS	REGULATORY CAPITAL REQUIREMENTS KKR has registered broker-dealer subsidiaries which are subject to the minimum net capital requirements of the SEC and the FINRA. Additionally, KKR entities based in London and Dublin 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 Tokyo 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 and the Securities and Exchange Board of India. 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 December 31, 2017 , approximately $185.8 million of cash at KKR's registered broker-dealer entities may be restricted as to the payment of cash dividends and advances to KKR.

QUARTERLY FINANCIAL DATA (UNAUD

QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY FINANCIAL DATA (UNAUDITED)	QUARTERLY FINANCIAL DATA (UNAUDITED) For the Three Months Ended, March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 Statement of Operations Data: Fees and Other $ 715,952 $ 931,788 $ 692,877 $ 941,648 Less: Total Expenses 540,014 629,728 530,247 636,703 Total Investment Income (Loss) 662,498 585,002 234,728 356,567 Income (Loss) Before Taxes 838,436 887,062 397,358 661,512 Income Tax / (Benefit) 40,542 18,538 18,420 146,826 Net Income (Loss) 797,894 868,524 378,938 514,686 Less: Net Income (Loss) Attributable to Redeemable Noncontrolling Interests 20,933 22,387 20,876 9,776 Less: Net Income (Loss) Attributable to Noncontrolling Interests 509,277 432,150 196,158 330,180 Net Income (Loss) Attributable to KKR & Co. L.P. 267,684 413,987 161,904 174,730 Less: Net Income Attributable to Series A Preferred Unitholders 5,822 5,822 5,822 5,822 Less: Net Income Attributable to Series B Preferred Unitholders 2,519 2,519 2,519 2,519 Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders $ 259,343 $ 405,646 $ 153,563 $ 166,389 Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit Basic $ 0.57 $ 0.87 $ 0.33 $ 0.35 Diluted $ 0.52 $ 0.81 $ 0.30 $ 0.32 Weighted Average Common Units Outstanding Basic 453,695,846 466,170,025 471,758,886 481,165,742 Diluted 496,684,340 501,177,423 506,873,177 520,156,583 For the Three Months Ended, March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Statement of Operations Data: Fees and Other $ 162,805 $ 576,757 $ 687,056 $ 481,475 Less: Total Expenses 308,323 423,218 511,117 452,816 Total Investment Income (Loss) (612,928 ) 125,737 809,649 440,148 Income (Loss) Before Taxes (758,446 ) 279,276 985,588 468,807 Income Tax / (Benefit) 1,890 6,045 10,826 5,800 Net Income (Loss) (760,336 ) 273,231 974,762 463,007 Less: Net Income (Loss) Attributable to Redeemable Noncontrolling Interests (38 ) 1,533 3,121 (13,092 ) Less: Net Income (Loss) Attributable to Noncontrolling Interests (430,359 ) 172,115 611,288 296,789 Net Income (Loss) Attributable to KKR & Co. L.P. (329,939 ) 99,583 360,353 179,310 Less: Net Income Attributable to Series A Preferred Unitholders — 5,693 5,822 5,822 Less: Net Income Attributable to Series B Preferred Unitholders — — 2,379 2,519 Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders $ (329,939 ) $ 93,890 $ 352,152 $ 170,969 Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit Basic $ (0.73 ) $ 0.21 $ 0.79 $ 0.38 Diluted $ (0.73 ) $ 0.19 $ 0.73 $ 0.35 Weighted Average Common Units Outstanding Basic 450,262,143 448,221,538 445,989,300 451,154,845 Diluted 450,262,143 481,809,612 479,975,675 484,312,804

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Common Unit Distribution A distribution of $0.17 per KKR & Co. L.P. common unit was announced on February 8, 2018 , and will be paid on March 6, 2018 to common unitholders of record as of the close of business on February 20, 2018 . KKR Holdings will receive its pro rata share of the distribution from the KKR Group Partnerships. Preferred Unit Distributions A distribution of $0.421875 per Series A Preferred Unit has been declared as announced on February 8, 2018 and set aside for payment on March 15, 2018 to holders of record of Series A Preferred Units as of the close of business on March 1, 2018 . A distribution of $0.406250 per Series B Preferred Unit has been declared as announced on February 8, 2018 and set aside for payment on March 15, 2018 to holders of record of Series B Preferred Units as of the close of business on March 1, 2018 . KFN Preferred Share Redemption On January 16, 2018, KFN completed the redemption of all of its outstanding 7.375% Series A LLC Preferred Shares. Following the delisting of the Series A LLC Preferred Shares from the NYSE, KFN is no longer subject to the reporting requirements of the Securities Exchange Act of 1934, as amended, and ceased filing reports with the SEC. KFN Issued 5.200% Notes Due 2033 On February 12, 2018, KFN issued $120.0 million aggregate principal amount of 5.200% Senior Notes due 2033 (the "KFN 2033 Senior Notes"). The KFN 2033 Senior Notes are unsecured and unsubordinated obligations of KFN and will mature on February 12, 2033, unless earlier redeemed or repurchased. The KFN 2033 Senior Notes bear interest at a rate of 5.200% per annum, accruing from February 12, 2018. Interest is payable semi-annually in arrears on February 12 and August 12 of each year.

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements (referred to hereafter as the "financial statements") have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). 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 investment funds, general partners of consolidated investment funds and their respective consolidated investment funds and certain other entities including CFEs. 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. All intercompany transactions and balances have been eliminated.
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) CFEs 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 assessed for consolidation as voting interest entities ("VOEs") under the voting interest model. 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." 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 the 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. Limited partnerships and other similar entities where unaffiliated limited partners have not been granted (i) substantive participatory rights or (ii) substantive rights to either dissolve the partnership or remove the general partner ("kick-out rights") are VIEs under condition (b) above. KKR's investment funds that are not CFEs (i) are generally limited partnerships, (ii) generally provide KKR with operational discretion and control, and (iii) generally have fund investors with no substantive rights to impact ongoing governance and operating activities of the fund, including the ability to remove the general partner, and as such the limited partners do not hold kick-out rights. Accordingly, most of KKR's investment funds are categorized as VIEs. KKR consolidates all VIEs in which it is the primary beneficiary. A reporting entity is determined to be the primary beneficiary if it holds a controlling financial interest in a VIE. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the VIE's economic performance and (b) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. The consolidation guidance requires an analysis to determine (i) whether an entity in which KKR holds a variable interest is a VIE and (ii) whether KKR's involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (for example, management and performance related fees), would give it a controlling financial interest. Performance of that analysis requires the exercise of judgment. Fees earned by KKR that are customary and commensurate with the level of effort required to provide those services, and where KKR does not hold other economic interests in the entity that would absorb more than an insignificant amount of the expected losses or returns of the entity, would not be considered variable interests. KKR factors in all economic interests including interests held through related parties, to determine if it holds a variable interest. KKR determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion periodically. For entities that are determined not to be VIEs, these entities are generally considered VOEs and are evaluated under the voting interest model. KKR consolidates VOEs it controls through a majority voting interest or through other means. 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 CLOs (which are generally VIEs), in its role as collateral manager, KKR generally has the power to direct the activities of the CLO that most significantly impact the economic performance of the entity. In some, but not all cases, KKR, through its residual interest in the CLO 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 the power to direct the activities of the CLO that most significantly impact the CLO's economic performance and 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 is deemed to be the primary beneficiary and consolidates the CLO. With respect to CMBS vehicles (which are generally VIEs), KKR holds unrated and non-investment grade rated securities issued by the CMBS, which are the most subordinate tranche of the CMBS vehicle. The economic performance of the CMBS is most significantly impacted by the performance of the underlying assets. Thus, the activities that most significantly impact the CMBS economic performance are the activities that most significantly impact the performance of the underlying assets. The special servicer has the ability to manage the CMBS assets that are delinquent or in default to improve the economic performance of the CMBS. KKR generally has the right to unilaterally appoint and remove the special servicer for the CMBS and as such is considered the controlling class of the CMBS vehicle. These rights give KKR the ability to direct the activities that most significantly impact the economic performance of the CMBS. Additionally, as the holder of the most subordinate tranche, KKR is in a first loss position and has the right to receive benefits, including the actual residual returns of the CMBS, if any. In these cases, KKR is deemed to be the primary beneficiary and consolidates the CMBS.
Redeemable Noncontrolling Interests	Redeemable Noncontrolling Interests Redeemable Noncontrolling Interests represent noncontrolling interests of certain investment funds and vehicles 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 consolidated statements of financial condition and presented as Net Income (Loss) Attributable to Redeemable Noncontrolling Interests in the accompanying 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 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 consolidated statements of financial condition as noncontrolling interests.
Noncontrolling Interests	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 holds 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 Incentive Plan ("Equity Incentive Plan"), equity allocations shown in the consolidated statement of changes in equity differ from their respective pro rata ownership interests in KKR's net assets. 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 entitled to up to 1% of the carried interest received by certain general partners of KKR's funds and 1% of KKR's other profits (losses) through and including December 31, 2015; (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 Capital ("Avoca"); and (vii) holders of the 7.375% Series A LLC Preferred Shares of KKR Financial Holdings LLC ("KFN") whose rights are limited to the assets of KFN. See Note 20 "Subsequent Events." 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 & Co. L.P. and are borne by KKR Holdings.
Investments	Investments Investments consist primarily of private equity, real assets, credit, investments of consolidated CFEs, equity method, carried interest and other investments. Investments denominated in currencies other than the entity's functional currency 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 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, including growth equity investments. Real Assets - Consists primarily of investments in (i) energy related assets, principally oil and natural gas producing properties, (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 CFEs - Consists primarily of (i) investments in below investment grade corporate debt securities (primarily high yield bonds and syndicated bank loans) held directly by the consolidated CLOs and (ii) investments in originated, fixed-rate mortgage loans held directly by the consolidated CMBS vehicles. Equity Method - Consists primarily of (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 GAAP. Carried Interest - Consists of carried interest from unconsolidated investment funds that are allocated to KKR as the general partner of the investment fund based on cumulative fund performance to date, and where applicable, subject to a preferred return. Other - Consists primarily of investments in common stock, preferred stock, warrants and options of companies that are not private equity, real assets, credit or investments of consolidated CFEs. Investments held by Consolidated Investment Funds The consolidated investment funds are, for GAAP purposes, investment companies and reflect their investments and other financial instruments, including portfolio companies that are majority-owned and controlled by KKR's investment funds, at fair value. KKR has retained this specialized accounting for the consolidated funds in consolidation. Accordingly, the unrealized gains and losses resulting from changes in fair value of the investments and other financial instruments held by the consolidated investment funds are reflected as a component of Net Gains (Losses) from Investment Activities in the consolidated statements of operations. Certain energy investments are made through consolidated investment funds, including investments in working and royalty interests in oil and natural gas producing properties as well as investments in operating companies that operate in the energy industry. Since these investments are held through consolidated investment funds, such investments are reflected at fair value as of the end of the reporting period. Investments in operating companies that are held through KKR's consolidated investment funds are generally classified within private equity investments and investments in working and royalty interests in oil and natural gas producing properties are generally classified as real asset investments.
Energy Investments held directly by KKR	Energy Investments held directly by KKR Certain energy investments are made by KKR directly in working and royalty interests in oil and natural gas producing properties and not through investment funds. Oil and natural gas producing activities are accounted for under the successful efforts method of accounting and such working interests are consolidated based on the proportion of the working interests held by KKR. Accordingly, KKR reflects its proportionate share of the underlying statements of financial condition and statements of operations of the consolidated working interests on a gross basis and changes in the value of these working interests are not reflected as unrealized gains and losses in the consolidated statements of operations. Under the successful efforts 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 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. Any impairment in value is recognized when incurred and is recorded in General, Administrative, and Other expense in the consolidated statements of operations.
Fair Value Option	Fair Value Option For certain investments and other financial instruments, KKR has elected the fair value option. Such election is irrevocable and is applied on a financial instrument by financial instrument basis at initial recognition. KKR has elected the fair value option for certain private equity, real assets, credit, investments of consolidated CFEs, equity method and other financial instruments not held through a consolidated investment fund. Accounting for these investments at fair value is consistent with how KKR accounts for its investments held through consolidated investment funds. Changes in the fair value of such instruments are recognized in Net Gains (Losses) from Investment Activities in the consolidated statements of operations. Interest income on interest bearing credit securities on which the fair value option has been elected is based on stated coupon rates adjusted for the accretion of purchase discounts and the amortization of purchase premiums. This interest income is recorded within Interest Income in the consolidated statements of operations.
Equity Method	Equity Method For certain investments in entities over which KKR exercises significant influence but which do not meet the requirements for consolidation and for which KKR has not elected the fair value option, KKR uses the equity method of accounting. KKR's share of earnings (losses) from these investments is reflected as a component of Net Gains (Losses) from Investment Activities in the consolidated statements of operations. For equity method investments, KKR records its proportionate share of the investee's earnings or losses based on the most recently available financial information of the investee, which in certain cases may lag the date of KKR's financial statements by no more than three calendar months. As of December 31, 2017 , equity method investees for which KKR reports financial results on a quarter lag include Marshall Wace LLP ("Marshall Wace"). KKR evaluates its equity method investments for which KKR has not elected the fair value option for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. The carrying value of equity method investments in private equity funds, real assets funds and credit funds, which are not consolidated, approximate fair value, because the underlying investments of the unconsolidated investment funds are reported at fair value. The carrying value of equity method investments in certain operating companies, with respect to which KKR is determined to exert significant influence under GAAP and for which KKR has not elected the fair value option, 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.
Financial Instruments held by Consolidated CFEs	Financial Instruments held by Consolidated CFEs KKR measures both the financial assets and financial liabilities of the consolidated CFEs in its financial statements using the more observable of the fair value of the financial assets and the fair value of the financial liabilities which results in KKR's consolidated net income (loss) reflecting KKR's own economic interests in the consolidated CFEs including (i) changes in the fair value of the beneficial interests retained by KKR and (ii) beneficial interests that represent compensation for services rendered. For the consolidated CLO entities, KKR has determined that the fair value of the financial assets of the consolidated CLOs is more observable than the fair value of the financial liabilities of the consolidated CLOs. 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 KKR (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). For the consolidated CMBS vehicles, KKR has determined that the fair value of the financial liabilities of the consolidated CMBS vehicles is more observable than the fair value of the financial assets of the consolidated CMBS vehicles. As a result, the financial liabilities of the consolidated CMBS vehicles are being measured at fair value and the financial assets are being measured in consolidation as: (1) the sum of the fair value of the financial liabilities (other than the beneficial interests retained by KKR), the fair value of the beneficial interests retained by KKR and the carrying value of any nonfinancial liabilities that are incidental to the operations of the CMBS vehicles less (2) the carrying value of any nonfinancial assets that are incidental to the operations of the CMBS vehicles. The resulting amount is allocated to the individual financial assets.
Fair Value Measurements	Fair Value Measurements 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. Except for certain of KKR's equity method investments (see "Equity Method" above in this Note 2 "Summary of Significant Accounting Policies") and debt obligations (as described in Note 10 "Debt Obligations"), KKR's investments and other financial instruments are recorded at fair value or at amounts whose carrying values approximate fair value. 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. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of market price observability used in measuring financial instruments at fair value. Market price observability is affected by a number of factors, including the type of financial instrument, the characteristics specific to the financial instrument and the state of the marketplace, including the existence and transparency of transactions between market participants. Financial instruments with readily available quoted prices in active markets generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value. Investments and financial instruments measured and reported at fair value are classified and disclosed based on the observability of inputs used in the determination of fair values, as follows: Level I - Pricing inputs are unadjusted, quoted prices in active markets for identical assets or liabilities as of the measurement date. The types of financial instruments included in this category are publicly-listed equities and securities sold short. Level II - Pricing inputs are other than quoted prices in active markets, which are either directly or indirectly observable as of the measurement date, and fair value is determined through the use of models or other valuation methodologies. The types of financial instruments included in this category are credit investments, investments and debt obligations of consolidated CLO entities, 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 - Pricing inputs are unobservable for the financial instruments and include situations where there is little, if any, market activity for the financial instrument. The inputs into the determination of fair value require significant management judgment or estimation. The types of financial instruments generally included in this category are private portfolio companies, real assets investments, credit investments, equity method investments for which the fair value option was elected and investments and debt obligations of consolidated CMBS entities. 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 methodologies and processes described below and may incorporate assumptions that are management's best estimates after consideration of a variety of internal and external factors. Level II Valuation Methodologies Credit Investments: These instruments 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 instrument. Ask prices represent the lowest price that KKR and others are willing to accept for an instrument. 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. Investments and Debt Obligations of Consolidated CLO Vehicles: Investments of consolidated CLO vehicles are reported within Investments of Consolidated CFEs and are valued using the same valuation methodology as described above for credit investments. Under ASU 2014-13, KKR measures CLO debt obligations on the basis of the fair value of the financial assets of the CLO. 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. Level III Valuation Methodologies Investments and financial instruments 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. In addition, 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, an estimated 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. 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. In the case of growth equity investments, enterprise values may be determined using the market comparables analysis and discounted cash flow analysis described above. A scenario analysis may also be conducted to subject the estimated enterprise values to a downside, base and upside case, which involves significant assumptions and judgments. A milestone analysis may also be conducted to assess the current level of progress towards value drivers that we have determined to be important, which involves significant assumptions and judgments. The enterprise value in each case may then be allocated across the investment's capital structure to reflect the terms of the security and subjected to probability weightings. In certain cases, the values of growth equity investments may be based on recent or expected financings. Real Asset 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 can 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 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. 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 generally 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. Investments and Debt Obligations of Consolidated CMBS Vehicles: Under ASU 2014-13, KKR measures CMBS investments, which are reported within Investments of Consolidated CFEs on the basis of the fair value of the financial liabilities of the CMBS. Debt obligations of consolidated CMBS vehicles are valued based on discounted cash flow analyses. The key input is the expected yield of each CMBS security using both observable and unobservable factors, which may include recently offered or completed trades and published yields of similar securities, security-specific characteristics (e.g. securities ratings issued by nationally recognized statistical rating organizations, credit support by other subordinate securities issued by the CMBS and coupon type) and other characteristics. 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. 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 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 have values 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. The valuations of certain real asset investments are determined solely by an independent valuation firm without the preparation of preliminary valuations by our investment professionals, and instead such independent valuation firm relies principally on valuation information available to it as a broker or valuation firm. For credit investments and debt obligations of consolidated CMBS vehicles, an independent valuation firm is generally engaged by KKR with respect to investments classified as Level III. The valuation firm either provides a value or provides a valuation range from which KKR's investment professionals select a point in the range to determine the preliminary valuation or performs certain procedures in order to assess the reasonableness and provide positive assurance of KKR's valuations. After reflecting any input from the independent valuation firm, the valuation proposals are submitted for review and approval by KKR's valuation committees. KKR has a global valuation committee that is responsible for coordinating and implementing the firm's valuation process to ensure consistency in the application of valuation principles across portfolio investments and between periods. The global valuation committee is assisted by the asset class-specific valuation committees that exist for private equity (including growth equity), real estate, energy and infrastructure, and credit. The asset class-specific valuation committees are responsible for the review and approval of all preliminary Level III valuations in their respective asset classes on a quarterly basis. The members of these valuation committees are comprised of investment professionals, including the heads of each respective strategy, and professionals from business operations functions such as legal, compliance and finance, who are not primarily responsible for the management of the investments. For periods prior to the completion of the PAAMCO Prisma transaction, when Level III valuations were required to be performed on hedge fund investments, a valuation committee for hedge funds reviewed these valuations. All Level III valuations are also subject to approval by the global valuation committee, which is comprised of senior employees including investment professionals and professionals from business operations functions, and includes one of KKR's Co-Presidents and Co-Chief Operating Officers and its Chief Financial Officer, General Counsel and Chief Compliance Officer. When valuations are approved by the global valuation 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 the board of directors of the general partner of KKR & Co. L.P. and are then reported 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) carried interest allocations to general partners of unconsolidated funds, (v) revenue earned by oil and gas-producing entities that are consolidated and (vi) consulting fees earned by consolidated entities that employ non-employee operating consultants. All revenues presented in the table above, except for oil and gas revenue and certain transaction fees earned by KKR's Capital Markets business, are earned from KKR investment funds 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. These fees are separately negotiated with each company for which services are provided and are not shared with KKR. Management Fees Management fees are recognized in the period during which the related services are performed in accordance with the contractual terms of the related agreement. Management fees earned from private equity funds and certain investment funds are based upon a percentage of capital committed or capital invested during the investment period, and thereafter generally based on remaining invested capital or net asset value. For certain other investment funds, CLOs, and separately managed accounts, management fees are based upon the net asset value, gross assets or as otherwise defined in the respective agreements. Management fees received from KKR's consolidated funds and vehicles are eliminated in consolidation. However, because these amounts are funded by, and earned from, noncontrolling interests, KKR's allocated share of the net income from KKR's consolidated funds and vehicles is increased by the amount of fees that are eliminated. Accordingly, the elimination of these fees does not have an effect on the net income (loss) attributable to KKR or KKR partners' capital. Private Equity Funds For KKR's consolidated and unconsolidated private equity funds, gross management fees generally range from 1% to 2% of committed capital during the fund's investment period and is generally 0.75% to 1.25% of invested capital after the expiration of the fund's investment period with subsequent reductions over time. Typically, an investment period is defined as a period of up to six years. The actual length of the investment period is often shorter due to the earlier deployment of committed capital. KKR's older private equity funds, which do not have a preferred return, require the management company to refund up to 20% of any cash management fees earned from limited partners in the event that the funds recognize a carried interest. At such time as the fund recognizes a carried interest in an amount sufficient to cover 20% of the cash management fees earned or a portion thereof, a liability to the fund's limited partners is recorded and revenue is reduced for the amount of the carried interest recognized, not to exceed 20% of the cash management fees earned. The refunds to the limited partners are paid, and the liabilities relieved, at such time that the underlying investments are sold and the associated carried interests are realized. In the event that a fund's carried interest is not sufficient to cover all or a portion of the amount that represents 20% of the earned cash management fees, these fees would not be returned to the funds' limited partners, in accordance with the respective fund agreements. Other Investment Funds Certain investment funds that invest capital in growth equity, real assets, credit, and the core investment strategy provide for management fees determined quarterly based on an annual rate generally ranging from 0.5% to 2.0% . Such rate may be based on the investment fund's average net asset value, capital commitments, or invested capital. CLOs KKR's management agreements for its CLO vehicles provide for senior collateral management fees and subordinate collateral management fees. Senior collateral management fees are determined based on an annual rate ranging from 0.15% to 0.20% of collateral and subordinate collateral management fees are determined based on an annual rate ranging from 0.20% to 0.35% of collateral. If amounts distributable on any payment date are insufficient to pay the collateral management fees according to the priority of payments, any shortfall is deferred and payable on subsequent payment dates. KKR has the right to waive all or any portion of any collateral management fee. For the purpose of calculating the collateral management fees, collateral, the payment dates, and the priority of payments are terms defined in the management agreements. Transaction Fees Transaction fees are earned by KKR primarily in connection with successful investment transactions and capital markets activities. Transaction fees are recognized in the period when the transaction closes. Fees are typically paid on or shortly after the closing of a transaction. In connection with pursuing successful portfolio company investments, KKR receives reimbursement for certain transaction‑related expenses. Transaction‑related expenses, which are reimbursed by third parties, are typically deferred until the transaction is consummated and are recorded in Other Assets on the consolidated statements of financial condition on the date incurred. The costs of successfully completed transactions are borne by the KKR investment funds and included as a component of the investment's cost basis. Subsequent to closing, investments are recorded at fair value each reporting period as described in the section above titled "Investments." Upon reimbursement from a third party, the cash receipt is recorded and the deferred amounts are relieved. No fees or expenses are recorded for these reimbursements. Monitoring Fees Monitoring fees are earned by KKR for services provided to portfolio companies and are recognized as services are rendered. These fees are generally paid based on a fixed periodic schedule by the portfolio companies either in advance or in arrears and are separately negotiated for each portfolio company. In connection with the monitoring of portfolio companies, KKR receives reimbursement for certain expenses incurred on behalf of these entities. Costs incurred in monitoring these entities are classified as general, administrative and other expenses and reimbursements of such costs are classified as monitoring fees. In addition, certain monitoring fee provisions 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. Fee Credits 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% for older funds, or 100% for our newer funds, 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. Carried Interest For certain investment fund structures, carried interest is allocated to the general partner based on cumulative fund performance to date, and where applicable, subject to a preferred return to the funds' limited partners. At the end of each reporting period, KKR calculates the carried interest that would be due to KKR for each fund, pursuant to the fund agreements, as if the fair value of the underlying investments were realized as of such date, irrespective of whether such amounts have been realized. As the fair value of underlying investments varies between reporting periods, it is necessary to make adjustments to amounts recorded as carried interest to reflect either (a) positive performance resulting in an increase in the carried interest allocated to the general partner or (b) negative performance that would cause the amount due to KKR to be less than the amount previously recognized as revenue, resulting in a negative adjustment to carried interest allocated to the general partner. In each case, it is necessary to calculate the carried interest on cumulative results compared to the carried interest recorded to date and make the required positive or negative adjustments. KKR ceases to record negative carried interest allocations once previously recognized carried interest allocations for a fund have been fully reversed. KKR is not obligated to pay guaranteed returns or hurdles, and therefore, cannot have negative carried interest over the life of a fund. Accrued but unpaid carried interest as of the reporting date is reflected in Investments in the consolidated statements of financial condition. Incentive Fees Incentive fees earned on investment funds that do not generate carried interest are recognized based on fund performance, subject to the achievement of minimum return levels, and/or high water marks, in accordance with the respective terms set out in each fund's governing agreements. Incentive fee rates generally range from 5% to 20% . KKR does not record performance‑based incentive fees until the end of each fund's measurement period (which is generally one year) when the performance‑based incentive fees become fixed and determinable. 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. Consulting Fees 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 portfolio company for which services are provided and are not shared with KKR.
Compensation and Benefits	Compensation and Benefits Compensation and Benefits expense includes (i) cash compensation consisting of salaries, bonuses, and benefits, (ii) equity based compensation consisting of charges associated with the vesting of equity-based awards (see Note 12 "Equity Based Compensation") and (iii) carry pool allocations and other performance-based income compensation. All KKR employees and employees of certain consolidated entities receive a base salary that is paid by KKR or its consolidated entities, and is accounted for as Compensation and Benefits expense in the consolidated statements of operations. These employees are also eligible to receive discretionary cash bonuses based on performance, overall profitability and other matters. While cash bonuses paid to most employees are borne by KKR and certain consolidated entities and result in customary compensation and benefits expense, certain cash bonuses that are paid to certain of KKR's principals can be 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 KKR 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 currently recorded based on the amount of cash expected to be paid by KKR Holdings. Carry Pool Allocation With respect to KKR's active and future funds and co-investment vehicles that provide for carried interest, KKR allocates to its employees and employees of certain consolidated entities a portion of the carried interest earned in relation to these funds as part of its carry pool. KKR currently allocates 40% or 43% , as applicable, of the carry it earns from these funds and vehicles to its carry pool. In addition, for investment funds that provide for incentive fees rather than carried interest, the carry pool is supplemented by allocating 40% of the incentive fees that do not constitute carried interest that are earned from such funds. These amounts are accounted for as compensatory profit‑sharing arrangements in Accounts Payable, Accrued Expenses and Other Liabilities within the accompanying consolidated statements of financial condition in conjunction with the related carried interest income or incentive fees and recorded as compensation expense. Profit Sharing Plan KKR provides certain profit sharing programs for KKR employees and other eligible personnel. In particular, KKR provides a 401(k) plan for eligible employees in the United States. For certain professionals who are participants in the 401(k) plan, KKR may, in its discretion, contribute an amount after the end of the plan year.
General, Administrative and Other	General, Administrative and Other General, administrative and other expense consists primarily of professional fees paid to legal advisors, accountants, advisors and consultants, insurance costs, travel and related expenses, communications and information services, depreciation and amortization charges, changes in fair value of contingent consideration, expenses incurred by oil and gas-producing entities (including impairment charges) that are consolidated and other general and operating expenses which are not borne by fund investors and are not offset by credits attributable to fund investors' noncontrolling interests in consolidated funds. General, administrative and other expense also consists of costs incurred in connection with pursuing potential investments that do not result in completed transactions, a substantial portion of which are borne by fund investors.
Investment Income	Investment Income Investment income consists primarily of the net impact of: (i) Realized and unrealized gains and losses on investments, securities sold short, derivatives and debt obligations of consolidated CFEs which are recorded in Net Gains (Losses) from Investment Activities. (ii) Foreign exchange gains and losses relating to mark‑to‑market activity on foreign exchange forward contracts, foreign currency options and foreign denominated debt which are recorded in Net Gains (Losses) from Investment Activities. (iii) Dividends, which are recognized on the ex‑dividend date, or, in the absence of a formal declaration of a record date, on the date it is received. (iv) Interest income, which is recognized as earned. (v) Interest expense, which is recognized as incurred. Unrealized gains or losses result from changes in fair value of investments during the period and are included in Net Gains (Losses) from Investment Activities. Upon disposition of an investment, previously recognized unrealized gains or losses are reversed and a realized gain or loss is recognized.
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. However, certain consolidated subsidiaries 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 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. Deferred Income Taxes Income taxes are accounted for using the asset and liability method of accounting. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax basis, using tax rates in effect for the year in which the differences are expected to reverse. The effect on deferred assets and liabilities of a change in tax rates is recognized in the consolidated statements of operations in the period when the change is enacted. Deferred tax assets, which are recorded in Other Assets within the statement of financial condition, are reduced by a valuation allowance when, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized. When evaluating the realizability of the deferred tax assets, all evidence, both positive and negative, is considered. Items considered when evaluating the need for a valuation allowance include the ability to carry back losses, future reversals of existing temporary differences, tax planning strategies, and expectations of future earnings. For a particular tax‑paying component of an entity and within a particular tax jurisdiction, deferred tax assets and liabilities are offset and presented as a single amount within Other Assets or Accounts Payable, Accrued and Other Liabilities, as applicable, in the accompanying statements of financial condition. 2017 Tax Act The 2017 Tax Act makes various changes to the U.S. tax code that include, but are not limited to, (1) reducing the U.S. federal corporate tax rate to 21% effective January 1, 2018 and (2) requiring a one-time transition tax on certain un-repatriated earnings of foreign subsidiaries that is payable over eight years. On December 22, 2017, the SEC issued Staff Accounting Bulletin ("SAB 118"), which provides guidance on accounting for tax effects of the 2017 Tax Act. SAB 118 provides a measurement period that should not extend beyond one year from the 2017 Tax Act enactment date for companies to complete the accounting under Accounting Standards Codification 740, Income Taxes ("ASC 740"). In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the 2017 Tax Act for which the accounting under ASC 740 is complete. To the extent that a company's accounting for certain income tax effects of the 2017 Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate to be included in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provision of the tax laws that were in effect immediately before the enactment of the 2017 Tax Act. KKR has recognized the provisional tax impacts related to the revaluation of deferred tax assets and liabilities and the deemed repatriated earnings for the year ended December 31, 2017. The ultimate impact may differ from these provisional amounts, possibly materially, due to, among other things, additional analysis, changes in interpretations and assumptions KKR has made, additional regulatory guidance that may be issued, and actions KKR may take following the enactment of the 2017 Tax Act. The accounting is expected to be complete when the 2017 U.S. corporate income tax return is filed in 2018. See Note 11 "Income Taxes" for further information on the financial statement impact of the 2017 Tax Act. Uncertain Tax Positions KKR analyzes its tax filing positions in all of the U.S. federal, state, local and foreign tax jurisdictions where it is required to file income tax returns, as well as for all open tax years in these jurisdictions. If, based on this analysis, KKR determines that uncertainties in tax positions exist, a reserve is established. The reserve for uncertain tax positions is recorded in Accounts Payable, Accrued and Other Liabilities in the accompanying statements of financial condition. KKR recognizes accrued interest and penalties related to uncertain tax positions within the provision for income taxes in the consolidated statements of operations. KKR records uncertain tax positions on the basis of a two‑step process: (a) determination is made whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position and (b) those tax positions that meet the more‑likely‑than‑not threshold are recognized as the largest amount of tax benefit that is greater than 50 percent likely to be realized upon ultimate settlement with the related tax authority.
Cash and Cash Equivalents	Cash and Cash Equivalents KKR considers all highly liquid short‑term investments with original maturities of 90 days or less when purchased to be cash equivalents.
Cash and Cash Equivalents Held at Consolidated Entities	Cash and Cash Equivalents Held at Consolidated Entities Cash and cash equivalents held at consolidated entities represents cash that, although not legally restricted, is not available to fund general liquidity needs of KKR as the use of such funds is generally limited to the investment activities of KKR's investment funds and CFEs.
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents Restricted cash and cash equivalents primarily represent amounts that are held by third parties under certain of KKR's financing and derivative transactions.
Due from and Due to Affiliates	Due from and Due to Affiliates KKR considers its principals and their related entities, unconsolidated funds and the portfolio companies of its funds to be affiliates for accounting purposes. Receivables from and payables to affiliates are recorded at their current settlement amount.
Fixed Assets, Depreciation and Amortization	Fixed Assets, Depreciation and Amortization Fixed assets consist primarily of corporate real estate, leasehold improvements, furniture and computer hardware. Such amounts are recorded at cost less accumulated depreciation and amortization and are included in Other Assets within the accompanying consolidated statements of financial condition. Depreciation and amortization are calculated using the straight‑line method over the assets' estimated economic useful lives, which for leasehold improvements are the lesser of the lease terms or the life of the asset, and three to seven years for other fixed assets.
Freestanding Derivatives	Freestanding Derivatives Freestanding derivatives are instruments that KKR and certain of its consolidated funds have entered into as part of their overall risk management and investment strategies. These derivative contracts are not designated as hedging instruments for accounting purposes. Such contracts may include forward, swap and option contracts related to foreign currencies and interest rates to manage foreign exchange risk and interest rate risk arising from certain assets and liabilities. All derivatives are recognized in Other Assets or Accounts Payable, Accrued Expenses and Other Liabilities and are presented on a gross basis in the consolidated statements of financial condition and measured at fair value with changes in fair value recorded in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. KKR's derivative financial instruments contain credit risk to the extent that its counterparties may be unable to meet the terms of the agreements. KKR attempts to minimize this risk by limiting its counterparties to major financial institutions with strong credit ratings.
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 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 consolidated statements of operations. Intangible assets are reviewed for impairment when circumstances indicate impairment may exist.
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 in the third quarter of each fiscal year or more frequently if circumstances indicate impairment may have occurred. Goodwill is recorded in Other Assets in the accompanying consolidated statements of financial condition.
Securities Sold Short	Securities Sold Short Whether part of a hedging transaction or a transaction in its own right, securities sold short represent obligations of KKR to deliver the specified security at the contracted price at a future point in time, and thereby create a liability to repurchase the security in the market at the prevailing prices. The liability for such securities sold short, which is recorded in Accounts Payable, Accrued Expenses and Other Liabilities in the statement of financial condition, is marked to market based on the current fair value of the underlying security at the reporting date with changes in fair value recorded as unrealized gains or losses in Net Gains (Losses) from Investment Activities in the accompanying consolidated statements of operations. These transactions may involve market risk in excess of the amount currently reflected in the accompanying consolidated statements of financial condition.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances, excluding those resulting from contributions from and distributions to owners. In the accompanying financial statements, comprehensive income represents Net Income (Loss), as presented in the consolidated statements of operations and net foreign currency translation.
Foreign Currency	Foreign Currency Consolidated entities which have a functional currency that differs from KKR's reporting currency are primarily KKR's investment management and capital markets companies located outside the United States. Foreign currency denominated assets and liabilities are translated using the exchange rates prevailing at the end of each reporting period. Results of foreign operations are translated at the weighted average exchange rate for each reporting period. Translation adjustments are included as a component of accumulated other comprehensive income (loss) until realized. Foreign currency income or expenses resulting from transactions outside of the functional currency of a consolidated entity are recorded as incurred in general, administrative and other expense in the consolidated statements of operations.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board ("the "FASB") issued ASU No. 2014-09, Revenue from Contracts with Customers Topic 606 ("ASU 2014-09") which has subsequently been amended by ASU 2015-14, ASU 2016-08, ASU 2016-10, ASU 2016-12, and ASU 2017-13. These ASUs outline 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 July 2015, the FASB deferred the effective date of ASU 2014-09 to annual reporting periods beginning after December 15, 2017. Early adoption will be permitted as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within those annual periods. A full retrospective or modified retrospective approach is required. Carried interest is a capital allocation to the general partner based on investment performance, and where applicable, subject to a preferred return to a funds' limited partners. KKR has concluded that capital allocation-based carried interest represents income from equity method investments that is not in the scope of ASU 2014-09. Accordingly, in connection with the adoption of ASU 2014-09, KKR will account for such carried interest as a financial instrument under the equity method of accounting within the scope of ASC 323, Investments - Equity Method and Joint Ventures ("ASC 323"). In accordance with ASC 323, KKR will record equity method income (losses) based on the change in KKR's proportionate claim on the net assets of the investment fund, including performance-based capital allocations, assuming the investment fund was liquidated as of each reporting date pursuant to each investment fund's governing agreements. As carried interest and the related general partner investments are considered to be a single unit of account under KKR's accounting policy, the equity method income associated with the general partner interests will be combined with the associated carried interest and reported in a single line within the statement of operations. KKR expects to apply this change in accounting on a full retrospective basis. The pattern and amount of recognition under the policy is not expected to differ materially from KKR's existing recognition. As it pertains to incentive fees, KKR expects the recognition of incentive fees, which are a form of variable consideration, to be deferred until such fees are no longer subject to significant reversal, which is consistent with KKR's existing recognition treatment. Additionally, KKR is currently in the process of implementing the new revenue guidance and is continuing to evaluate the effect this guidance will have on other revenue streams. KKR will adopt the new revenue recognition guidance effective January 1, 2018. Financial Instruments In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments (Topic 825): Recognition and Measurement of Financial Assets and Liabilities ("ASU 2016-01"). The amended guidance (i) requires equity investments (except those accounted for under the equity method of accounting or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income; (ii) eliminates the requirement to disclose the method(s) and significant assumptions used to estimate the fair value that is currently required to be disclosed for financial instruments measured at fair value; (iii) requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments and (iv) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset (that is, securities or loans and receivables) on the balance sheet or the accompanying notes to the financial statements. ASU 2016-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The amended guidance should be applied by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The amended guidance related to equity securities without readily determinable fair values (including the disclosure requirements) should be applied prospectively to equity investments that exist as of the date of adoption. KKR is currently evaluating the impact of this guidance on the financial statements. KKR will adopt this guidance as of January 1, 2018. Leases In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). The guidance requires the recognition of lease assets and lease liabilities for those leases classified as operating leases under previous GAAP. The guidance retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases under previous GAAP. The recognition, measurement and presentation of expenses and cash flows arising from a lease by a lessee have not changed significantly from previous GAAP. For operating leases, a lessee is required to do the following: (a) recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments, in the statement of financial condition, (b) recognize a single lease cost, calculated so that the cost of the lease is allocated over the lease term on a generally straight-line basis, and (c) classify all cash payments within operating activities in the statement of cash flows. The guidance is effective for fiscal periods beginning after December 15, 2018. Early application is permitted. KKR is currently evaluating the impact of this guidance on the financial statements. Investments In March 2016, the FASB issued ASU No. 2016-07, Investments - Equity Method and Joint Ventures (Topic 323): Simplifying the Transition to the Equity Method of Accounting ("ASU 2016-07"), which simplifies the equity method of accounting by eliminating the requirement to retrospectively apply the equity method to an investment that subsequently qualifies for such accounting as a result of an increase in the level of ownership interest or degree of influence. ASU 2016-07 is effective for all entities for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Entities are required to apply the guidance prospectively to increases in the level of ownership interest or degree of influence occurring after the ASU's effective date. Additional transition disclosures are not required upon adoption. This guidance has been adopted as of January 1, 2017. Equity-Based Compensation In March 2016, the FASB issued ASU No. 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Shared-Based Payment Accounting ("ASU 2016-09"), which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. ASU 2016-09 is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. KKR adopted ASU 2016-09 on January 1, 2017 and will apply prospective application. In connection with this adoption, the most significant impacts to KKR relate to the following: (i) with respect to the tax impact of equity-based compensation charges, KKR has accounted for the difference between the deduction for tax purposes and the compensation cost recognized for financial reporting purposes as an income tax expense or benefit in the statement of operations, (ii) KKR has classified this difference with other income tax cash flows as an operating activity in the statement of cash flows and (iii) KKR has made an election to continue to estimate the number of equity compensation awards that are expected to vest, net of forfeitures, over the life of an equity award and not account for forfeitures as they occur. In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting ("ASU 2017-09"), which amends the scope of modification accounting for share-based payment arrangements. ASU 2017-09 provides guidance on the types of changes to the terms or conditions of share-based payment awards to which an entity would be required to apply modification accounting. Specifically, an entity would not apply modification accounting if the fair value, vesting conditions, and classification of the awards are the same immediately before and after the modification. ASU 2017-09 is effective for fiscal years and interim periods beginning after December 15, 2017. Early adoption is permitted. KKR is currently evaluating the impact of this guidance on the financial statements. KKR will adopt this guidance as of January 1, 2018. Cash Flow Classification In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, which amends the guidance on the classification of certain cash receipts and payments in the statement of cash flows. The amended guidance adds or clarifies guidance on eight cash flow matters: (i) debt prepayment or debt extinguishment costs, (ii) settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, (iii) contingent consideration payments made after a business combination, (iv) proceeds from the settlement of insurance claims, (v) proceeds from the settlement of corporate-owned life insurance policies, (vi) distributions received from equity method investees, (vii) beneficial interests in securitization transactions and (viii) separately identifiable cash flows and application of the predominance principle. The guidance in the ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The guidance must be applied retrospectively to all periods presented but may be applied prospectively from the earliest date practicable if retrospective application would be impracticable. KKR is currently evaluating the impact of this guidance on the financial statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash, which amends the guidance to add or clarify guidance on the classification and presentation of restricted cash in the statement of cash flows. The amended guidance requires the following: (i) restricted cash and restricted cash equivalents should be included in the cash and cash-equivalents balances in the statement of cash flows; (ii) changes in restricted cash and restricted cash equivalents that result from transfers between cash, cash equivalents, and restricted cash and restricted cash equivalents should not be presented as cash flow activities in the statement of cash flows; (iii) a reconciliation between the statement of financial position and the statement of cash flows must be disclosed when the statement of financial position includes more than one line item for cash, cash equivalents, restricted cash, and restricted cash equivalents; and (iv) the nature of the restrictions must be disclosed for material restricted cash and restricted cash equivalents amounts. The guidance in this ASU is effective for fiscal years beginning after December 15, 2017, including interim periods therein. Early adoption is permitted. The guidance must be applied retrospectively to all periods presented. KKR is currently evaluating the impact of this guidance on the financial statements. KKR will adopt this guidance as of January 1, 2018. Income Taxes In October 2016, the FASB issued ASU No. 2016-16, Income Taxes (Topic 740): Intra-entity Transfers of Assets Other Than Inventory ("ASU 2016-16"), which removed the prohibition in ASC 740 against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. ASU 2016-16 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual reporting periods. KKR is currently evaluating the impact of this guidance on the financial statements. KKR will adopt this guidance as of January 1, 2018. Clarifying the Definition of a Business In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business ("ASU 2017-01"). This guidance amends the definition of a business and provides a threshold which must be considered to determine whether a transaction is an asset acquisition or a business combination. ASU 2017-01 is effective for fiscal years and interim periods beginning after December 15, 2017. Early adoption is permitted for transactions (i.e. acquisitions or dispositions) that occurred before the issuance date or effective date of the standard if the transactions were not reported in financial statements that have been issued or made available for issuance. This guidance has been adopted as of the fourth quarter of 2017. Goodwill In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. This guidance simplifies the accounting for goodwill impairments by eliminating the second step from the goodwill impairment test. The ASU requires goodwill impairments to be measured on the basis of the fair value of a reporting unit relative to the reporting unit's carrying amount rather than on the basis of the implied amount of goodwill relative to the goodwill balance of the reporting unit. The ASU also (i) clarifies the requirements for excluding and allocating foreign currency translation adjustments to reporting units related to an entity's testing of reporting units for goodwill impairment; and (ii) clarifies that an entity should consider income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The guidance is effective for fiscal periods beginning after December 15, 2019. Early adoption is allowed for entities as of January 1, 2017, for annual and any interim impairment tests occurring after January 1, 2017. KKR is currently evaluating the impact of this guidance on the financial statements. Other Income In February 2017, the FASB issued ASU No. 2017-05, Other Income—Gains and Losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20): Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. The ASU conforms the derecognition guidance on nonfinancial assets with the model for transactions in the new revenue standard (ASC 606, as amended). The effective date of the new guidance is aligned with the requirements in the new revenue standard, which is effective for annual and interim reporting periods beginning after December 15, 2017. The ASU allows an entity to use a full or modified retrospective adoption approach. KKR is currently evaluating the impact of this guidance on the financial statements. Premium Amortization on Purchased Callable Debt Securities In March 2017, the FASB issued ASU No. 2017-08, Receivables - Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities ("ASU 2017-08"). This guidance amends the amortization period for certain purchased callable debt securities held at a premium. The guidance requires the premium to be amortized to the earliest call date. The guidance does not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. ASU 2017-08 is effective for fiscal years and interim periods beginning after December 15, 2018. Early adoption is permitted and the guidance when adopted should be applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. KKR is currently evaluating the impact of this guidance on the financial statements. Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income ("ASU 2018-02). Under ASC 740-10-45-15, the effects of changes in tax rates and laws on deferred tax balances are recorded as a component of tax expense related to continuing operations for the period in which the law was enacted, even if the assets and liabilities related to items of accumulated other comprehensive income ("OCI"). ASU 2018-02 allows entities to reclassify from accumulated OCI to retained earnings stranded tax effects related to the change in federal tax rate for all items accounted for in OCI. Entities can also elect to reclassify other stranded tax effects that relate to the 2017 Tax Act but do not directly relate to the change in the federal tax rate. Tax effects that are stranded in OCI for other reasons may not be reclassified. In the period of adoption, entities that elect to reclassify the income tax effects of the 2017 Tax Act from accumulated OCI to retained earnings must disclose that they made such an election. Entities must also disclose a description of other income tax effects related to the 2017 Tax Act that are reclassified from accumulated OCI to retained earnings, if any. The guidance is effective for fiscal periods beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption is permitted for periods for which financial statement have not yet been issued or made available upon issuance, including in the period the 2017 Tax Act was enacted. An entity that adopts ASU 2018-02 in an annual or interim periods after the period of enactment is able to choose whether to apply the amendments retrospectively to each period in which the effect of the 2017 Tax Act is recognized or to apply the amendments in the period of adoption. KKR is currently evaluating the impact of this guidance on the financial statements.

ORGANIZATION (Tables)

ORGANIZATION (Tables)	12 Months Ended
	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Effect of changes in ownership interest in the KKR group partnerships on KKR	The following table presents the effect of changes in the ownership interest in the KKR Group Partnerships on KKR: For the Years Ended December 31, 2017 2016 2015 Net income (loss) attributable to KKR & Co. L.P. $ 1,018,305 $ 309,307 $ 488,482 Transfers from noncontrolling interests: Exchange of KKR Group Partnership units held by KKR Holdings L.P. (1) 247,946 90,910 212,043 Change from net income (loss) attributable to KKR & Co. L.P. and transfers from noncontrolling interests held by KKR Holdings $ 1,266,251 $ 400,217 $ 700,525 (1) Increase in KKR's partners' capital for exchange of 17,786,064 , 7,589,190 and 15,850,161 for the years ended December 31, 2017, 2016, and 2015, respectively, KKR Group Partnerships units held by KKR Holdings L.P., inclusive of deferred taxes.

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2017
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: For the Years Ended December 31, 2017 2016 2015 Balance at the beginning of the period $ 4,293,337 $ 4,347,153 $ 4,661,679 Net income (loss) attributable to noncontrolling interests held by KKR Holdings (1) 791,021 212,878 433,693 Other comprehensive income (loss), net of tax (2) 21,904 (10,514 ) (14,030 ) Impact of the exchange of KKR Holdings units to KKR & Co. L.P. common units (3) (238,941 ) (89,182 ) (203,127 ) Equity based compensation 141,727 66,572 59,114 Capital contributions 3,028 241,748 25,573 Capital distributions (235,610 ) (475,318 ) (615,749 ) Transfer of interests under common control and Other (See Note 15 "Equity") 17,009 — — Balance at the end of the period $ 4,793,475 $ 4,293,337 $ 4,347,153 (1) Refer to the table below for calculation of net income (loss) attributable to noncontrolling interests held by KKR Holdings. (2) Calculated on a pro rata basis based on the weighted average KKR Group Partnership Units held by KKR Holdings during the reporting period. (3) 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: For the Years Ended December 31, 2017 2016 2015 Net income (loss) $ 2,560,042 $ 950,664 $ 5,275,032 Less: Net income (loss) attributable to Redeemable Noncontrolling Interests 73,972 (8,476 ) (4,512 ) Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities 676,744 436,955 4,357,369 Less: Net income (loss) attributable to Series A and Series B Preferred Unitholders 33,364 22,235 — Plus: Income tax / (benefit) attributable to KKR Management Holdings Corp. 150,812 (18,937 ) 21,241 Less: Gain from remeasurement of tax receivable agreement liability attributable to KKR Management Holdings Corp. (1) 67,221 — — Net income (loss) attributable to KKR & Co. L.P. Common Unitholders and KKR Holdings $ 1,859,553 $ 481,013 $ 943,416 Net income (loss) attributable to Noncontrolling Interests held by KKR Holdings $ 791,021 $ 212,878 $ 433,693 (1) Represents the impacts of the remeasurement of the tax receivable agreement which arises from changes in the associated deferred tax balance, including the impacts related to the Tax Cuts & Jobs Act enacted on December 22, 2017 (the "2017 Tax Act").
Schedule of fees	For the years ended December 31, 2017 , 2016 and 2015, respectively, fees and other consisted of the following: For the Years Ended December 31, 2017 2016 2015 Management Fees $ 700,245 $ 619,243 $ 201,006 Transaction Fees 783,952 350,091 354,895 Monitoring Fees 204,165 146,967 336,159 Fee Credits (257,401 ) (128,707 ) (17,351 ) Carried Interest 1,740,661 803,185 — Incentive Fees 4,601 8,709 16,415 Oil and Gas Revenue 63,460 65,754 112,328 Consulting Fees 42,582 42,851 40,316 Total Fees and Other $ 3,282,265 $ 1,908,093 $ 1,043,768

NET GAINS (LOSSES) FROM INVES31

NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES (Tables)	12 Months Ended
	Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Schedule of total net gains (losses) from investment activities	The following tables summarize total Net Gains (Losses) from Investment Activities for the years ended December 31, 2017 , 2016 and 2015, respectively: For the Year Ended December 31, 2017 Net Realized Net Unrealized Total Private Equity (1) $ 223,568 $ 338,720 $ 562,288 Credit, Equity Method and Other (1) (1,232,645 ) 860,102 (372,543 ) Investments of Consolidated CFEs (1) (97,129 ) 352 (96,777 ) Real Assets (1) (18,722 ) 218,728 200,006 Foreign Exchange Forward Contracts and Options (2) (31,772 ) (342,849 ) (374,621 ) Securities Sold Short (2) 1,116,325 97,811 1,214,136 Other Derivatives (2) (7,129 ) (23,687 ) (30,816 ) Debt Obligations and Other (3) 85,820 15,666 101,486 Net Gains (Losses) From Investment Activities $ 38,316 $ 1,164,843 $ 1,203,159 For the Year Ended December 31, 2016 Net Realized Net Unrealized Total Private Equity (1) $ 306,180 $ (196,892 ) $ 109,288 Credit, Equity Method and Other (1) (825,822 ) 4,280 (821,542 ) Investments of Consolidated CFEs (1) (258,430 ) 444,142 185,712 Real Assets (1) 87,512 141,886 229,398 Foreign Exchange Forward Contracts and Options (2) 108,404 (7,986 ) 100,418 Securities Sold Short (2) 594,743 (90,607 ) 504,136 Other Derivatives (2) (49,712 ) 70,534 20,822 Debt Obligations and Other (3) 384,222 (369,557 ) 14,665 Net Gains (Losses) From Investment Activities $ 347,097 $ (4,200 ) $ 342,897 For the Year Ended December 31, 2015 Net Realized Net Unrealized Total Private Equity (1) $ 4,452,593 $ 1,140,377 $ 5,592,970 Credit, Equity Method and Other (1) 138,915 (800,027 ) (661,112 ) Investments of Consolidated CFEs (1) (54,367 ) (220,577 ) (274,944 ) Real Assets (1) (2,035,727 ) 1,591,541 (444,186 ) Foreign Exchange Forward Contracts and Options (2) 415,370 87,482 502,852 Securities Sold Short (2) (6,860 ) 3,909 (2,951 ) Other Derivatives (2) 17,694 2,449 20,143 Debt Obligations and Other (3) 74,266 (134,411 ) (60,145 ) Net Gains (Losses) From Investment Activities $ 3,001,884 $ 1,670,743 $ 4,672,627 (1) See Note 4 "Investments." (2) See Note 8 "Other Assets and Accounts Payable, Accrued Expenses and Other Liabilities." (3) See Note 10 "Debt Obligations."

INVESTMENTS (Tables)

INVESTMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Investments [Abstract]
Summary of investments	Investments consist of the following: December 31, 2017 December 31, 2016 Private Equity $ 3,301,261 $ 2,915,667 Credit 7,621,320 4,847,936 Investments of Consolidated CFEs 15,573,203 13,950,897 Real Assets 2,302,061 1,807,128 Equity Method 4,552,515 2,728,995 Carried Interest 2,904,287 2,384,177 Other 2,759,287 2,774,965 Total Investments $ 39,013,934 $ 31,409,765
Schedule of carried interest	Carried interest allocated to the general partner in respect of performance of investment funds that are not consolidated were as follows: Balance at December 31, 2016 $ 2,384,177 Carried Interest Allocated as a result of Changes in Fund Fair Value 1,740,661 Cash Proceeds Received (1,220,551 ) Balance at December 31, 2017 $ 2,904,287
Summarized financial information of equity method investments	The following table shows summarized financial information relating to the statements of financial condition for KKR's equity method investments assuming 100% ownership as of December 31, 2017 and 2016: December 31, 2017 December 31, 2016 Total Assets $ 66,989,419 $ 46,607,136 Total Liabilities $ 10,510,223 $ 4,368,696 Total Equity $ 56,479,196 $ 42,238,440 The following table shows summarized financial information relating to the statements of operations for KKR's equity method investments assuming 100% ownership for the years ended December 31, 2017, 2016 and 2015: For the Years Ended December 31, 2017 2016 2015 Investment Related Revenues $ 1,167,038 $ 1,195,404 $ 240,877 Other Revenues 3,002,987 1,201,693 623,714 Investment Related Expenses 482,336 464,616 53,081 Other Expenses 2,392,965 801,342 675,293 Net Realized and Unrealized Gain/(Loss) from Investments 9,217,912 3,625,293 (307,301 ) Net Income (Loss) $ 10,512,636 $ 4,756,432 $ (171,084 )

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Schedule of assets and liabilities at fair value	The following tables summarize the valuation of KKR's assets and liabilities by the fair value hierarchy. Carried interest and equity method investments for which the fair value option has not been elected have been excluded from the tables below. Assets, at fair value: December 31, 2017 Level I Level II Level III Total Private Equity $ 1,043,390 $ 85,581 $ 2,172,290 $ 3,301,261 Credit — 2,482,383 5,138,937 7,621,320 Investments of Consolidated CFEs — 10,220,113 5,353,090 15,573,203 Real Assets 50,794 — 2,251,267 2,302,061 Equity Method 60,282 247,748 1,076,709 1,384,739 Other 864,872 134,404 1,760,011 2,759,287 Total 2,019,338 13,170,229 17,752,304 32,941,871 Foreign Exchange Contracts and Options — 96,584 — 96,584 Other Derivatives — 33,125 51,949 (1) 85,074 Total Assets $ 2,019,338 $ 13,299,938 $ 17,804,253 $ 33,123,529 (1) Includes derivative assets that were valued using a third-party valuation firm. The approach used to estimate the fair value of these derivative assets was generally the discounted cash flow method, which includes consideration of the current portfolio, projected portfolio construction, projected portfolio realizations, portfolio volatility (based on the volatility, correlation, and size of each underlying asset class), and the discounting of future cash flows to the reporting date. December 31, 2016 Level I Level II Level III Total Private Equity $ 1,240,108 $ 116,000 $ 1,559,559 $ 2,915,667 Credit — 1,557,575 3,290,361 4,847,936 Investments of Consolidated CFEs — 8,544,677 5,406,220 13,950,897 Real Assets — — 1,807,128 1,807,128 Equity Method — 220,896 570,522 791,418 Other 994,677 12,715 1,767,573 2,774,965 Total 2,234,785 10,451,863 14,401,363 27,088,011 Foreign Exchange Contracts and Options — 240,627 — 240,627 Other Derivatives — 81,593 — 81,593 Total Assets $ 2,234,785 $ 10,774,083 $ 14,401,363 $ 27,410,231 Liabilities, at fair value: December 31, 2017 Level I Level II Level III Total Securities Sold Short $ 692,007 $ — $ — $ 692,007 Foreign Exchange Contracts and Options — 260,948 — 260,948 Unfunded Revolver Commitments — — 17,629 (1) 17,629 Other Derivatives — 27,581 41,800 (2) 69,381 Debt Obligations of Consolidated CFEs — 10,347,980 5,238,236 15,586,216 Total Liabilities $ 692,007 $ 10,636,509 $ 5,297,665 $ 16,626,181 December 31, 2016 Level I Level II Level III Total Securities Sold Short $ 644,196 $ 3,038 $ — $ 647,234 Foreign Exchange Contracts and Options — 75,218 — 75,218 Unfunded Revolver Commitments — 9,023 — 9,023 Other Derivatives — 44,015 56,000 (2) 100,015 Debt Obligations of Consolidated CFEs — 8,563,547 5,294,741 13,858,288 Total Liabilities $ 644,196 $ 8,694,841 $ 5,350,741 $ 14,689,778 (1) These unfunded revolver commitments are classified as Level III within the fair value hierarchy and valued using the same valuation methodologies as KKR's Level III credit investments. (2) Includes options issued in connection with the acquisition of the 24.9% equity interest in Marshall Wace in November 2015 and its affiliates to increase KKR's ownership interest to 39.9% in periodic increments from 2017 to 2019. The option is valued using a Monte-Carlo simulation valuation methodology. Key inputs used in this methodology that require estimates include Marshall Wace's dividend yield, assets under management volatility and equity volatility. See Note 4 "Investments."
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 investments and debt obligations reported at fair value for which Level III inputs have been used to determine fair value for the years ended December 31, 2017 and 2016, respectively: For the Year Ended December 31, 2017 Level III Investments Level III Debt Obligations Private Equity Credit Investments of Consolidated CFEs Real Assets Equity Method Other Total Debt Obligations of Consolidated CFEs Balance, Beg. of Period $ 1,559,559 $ 3,290,361 $ 5,406,220 $ 1,807,128 $ 570,522 $ 1,767,573 $ 14,401,363 $ 5,294,741 Transfers In/Out Due to Changes in Consolidation — (41,422 ) — 45,639 — — 4,217 — Transfers In — — — — — 3,511 3,511 — Transfers Out (14,532 ) (16,671 ) — — — (1,496 ) (32,699 ) — Asset Purchases / Debt Issuances 427,914 2,545,756 — 744,273 728,338 327,144 4,773,425 — Sales / Paydowns (175,676 ) (1,224,468 ) (45,562 ) (528,617 ) (291,326 ) (262,953 ) (2,528,602 ) — Settlements — 134,561 — — — — 134,561 (45,562 ) Net Realized Gains (Losses) 6,846 (97,409 ) — (18,722 ) 21,865 (40,098 ) (127,518 ) — Net Unrealized Gains (Losses) 368,179 518,049 (7,568 ) 201,566 47,310 (33,670 ) 1,093,866 (10,943 ) Change in Other Comprehensive Income — 30,180 — — — — 30,180 — Balance, End of Period $ 2,172,290 $ 5,138,937 $ 5,353,090 $ 2,251,267 $ 1,076,709 $ 1,760,011 $ 17,752,304 $ 5,238,236 Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date $ 370,136 $ 424,099 $ (7,568 ) $ 147,940 $ 61,855 $ (22,904 ) $ 973,558 $ (10,943 ) For the Year Ended December 31, 2016 Level III Investments Level III Private Equity Credit Investments of Consolidated CFEs Real Assets Equity Method Other Total Debt Obligations of Consolidated CFEs Balance, Beg. of Period $ 18,903,538 $ 5,012,355 $ — $ 4,048,281 $ 891,606 $ 2,581,188 $ 31,436,968 $ — Transfers Out Due to Deconsolidation of Funds (17,856,098 ) (2,354,181 ) — (2,628,999 ) — (984,813 ) (23,824,091 ) — Transfers In — 47,536 4,343,829 — — 180,508 4,571,873 4,272,081 Transfers Out (104,000 ) (7,482 ) — — (311,270 ) — (422,752 ) — Asset Purchases / Debt Issuances 591,459 1,589,920 1,026,801 535,210 101,524 364,180 4,209,094 990,450 Sales / Paydowns (111,018 ) (973,370 ) (32,286 ) (387,593 ) (78,088 ) (162,989 ) (1,745,344 ) — Settlements — 128,299 — — — — 128,299 (32,286 ) Net Realized Gains (Losses) (219,407 ) (9,786 ) — 87,512 3,830 (16,456 ) (154,307 ) — Net Unrealized Gains (Losses) 355,085 (138,496 ) 67,876 152,717 (37,080 ) (194,045 ) 206,057 64,496 Change in Other Comprehensive Income — (4,434 ) — — — — (4,434 ) — Balance, End of Period $ 1,559,559 $ 3,290,361 $ 5,406,220 $ 1,807,128 $ 570,522 $ 1,767,573 $ 14,401,363 $ 5,294,741 Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date $ 127,082 $ (138,335 ) $ 67,876 $ 180,543 $ (31,130 ) $ (217,771 ) $ (11,735 ) $ 64,496
Summary of fair value transfers between fair value levels	The following table summarizes the fair value transfers between fair value levels for the years ended December 31, 2017 and 2016: For the Years Ended December 31, 2017 2016 Assets, at fair value: Transfers from Level I to Level II (1) $ 53,416 $ 73,600 Transfers from Level II to Level I (4) $ 33,634 $ — Transfers from Level II to Level III (2) $ 3,511 $ 4,571,873 Transfers from Level III to Level II (3) $ 16,671 $ 318,752 Transfers from Level III to Level I (4) $ 16,028 $ 104,000 Liabilities, at fair value: Transfers from Level II to Level III (5) $ — $ 4,272,081 (1) Transfers out of Level I into Level II are principally attributable to certain investments that are no longer valued using a publicly traded market price. (2) Transfers out of Level II into Level III 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. (3) Transfers out of Level III into Level II are principally attributable to certain investments that experienced a higher level of market activity during the period and thus were valued using observable inputs. (4) Transfers out of Level III and Level II into Level I are attributable to portfolio companies that are valued using their publicly traded market price. (5) Transfers out of Level II into Level III are principally attributable to debt obligations of CMBS vehicles due to an insignificant level of market activity during the period and thus were valued in the absence of observable inputs.
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 and debt obligations that are measured at fair value and categorized within Level III as of December 31, 2017 : Fair Value December 31, 2017 Valuation Methodologies Unobservable Input(s) (1) Weighted Average (2) Range Impact to Valuation from an Increase in Input (3) Private Equity $ 2,172,290 Private Equity $ 576,410 Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 9.6% 5.0% - 15.0% Decrease Weight Ascribed to Market Comparables 48.4% 0.0% - 50.0% (4) Weight Ascribed to Discounted Cash Flow 51.6% 50.0% - 100.0% (5) Market comparables Enterprise Value/LTM EBITDA Multiple 14.4x 7.4x - 26.2x Increase Enterprise Value/Forward EBITDA Multiple 12.4x 5.7x - 19.0x Increase Discounted cash flow Weighted Average Cost of Capital 10.1% 7.7% - 14.6% Decrease Enterprise Value/LTM EBITDA Exit Multiple 10.5x 4.8x - 15.1x Increase Growth Equity $ 1,595,880 Inputs to market comparables, discounted cash flow and milestones Illiquidity Discount 13.3% 10.0% - 15.0% Decrease Weight Ascribed to Market Comparables 24.5% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 9.0% 0.0% - 75.0% (5) Weight Ascribed to Milestones 66.5% 0.0% - 100.0% (6) Scenario Weighting Base 51.9% 30.0% - 80.0% Increase Downside 21.4% 5.0% - 40.0% Decrease Upside 26.7% 10.0% - 45.0% Increase Credit $ 5,138,937 Yield Analysis Yield 10.3% 3.2% - 36.6% Decrease Net Leverage 4.7x 0.5x - 27.5x Decrease EBITDA Multiple 11.8x 0.1x - 22.4x Increase Investments of Consolidated CFEs $ 5,353,090 (9) Debt Obligations of Consolidated CFEs $ 5,238,236 Discounted cash flow Yield 5.6% 2.2% - 29.3% Decrease Real Assets $ 2,251,267 (10) Energy $ 1,152,627 Discounted cash flow Weighted Average Cost of Capital 10.4% 9.4% - 17.5% Decrease Average Price Per BOE (8) $40.34 $26.50 - $42.05 Increase Real Estate $ 887,403 Inputs to direct income capitalization and discounted cash flow Weight Ascribed to Direct Income Capitalization 37.2% 0.0% - 100.0% (7) Weight Ascribed to Discounted Cash Flow 62.8% 0.0% - 100.0% (5) Direct income capitalization Current Capitalization Rate 5.8% 1.9% - 8.7% Decrease Discounted cash flow Unlevered Discount Rate 9.0% 4.5% - 20.0% Decrease Other $ 1,760,011 (11) Inputs to market comparables, discounted cash flow and transaction price Illiquidity Discount 10.6% 5.0% - 15.0% Decrease Weight Ascribed to Market Comparables 22.8% 0.0% - 100.0% (4) Weight Ascribed to Discounted Cash Flow 45.3% 0.0% - 100.0% (5) Weight Ascribed to Transaction Price 31.9% 0.0% - 100.0% (6) Market comparables Enterprise Value/LTM EBITDA Multiple 10.9x 0.1x - 15.1x Increase Enterprise Value/Forward EBITDA Multiple 9.1x 4.0x - 13.5x Increase Discounted cash flow Weighted Average Cost of Capital 11.8% 8.5% - 21.2% Decrease Enterprise Value/LTM EBITDA Exit Multiple 6.7x 2.0x - 11.3x Increase (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 and debt obligations. 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 or milestones 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) 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. (8) 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 85% liquids and 15% natural gas. (9) KKR measures CMBS investments on the basis of the fair value of the financial liabilities of the CMBS vehicle. See Note 2 "Summary of Significant Accounting Policies." (10) Includes one Infrastructure investment for $211.2 million that was valued using a discounted cash flow analysis. The significant inputs used included the weighted average cost of capital 7.6% and the enterprise value/LTM EBITDA Exit Multiple 12.0 x. (11) Consists primarily of investments in common stock, preferred stock, warrants and options of companies that are not private equity, real assets, credit or investments of consolidated CFEs.

FAIR VALUE OPTION (Tables)

FAIR VALUE OPTION (Tables)	12 Months Ended
	Dec. 31, 2017
Fair Value Disclosures [Abstract]
Summary of disclosures of financial instruments for which the fair value option was elected	The following table summarizes the financial instruments for which the fair value option has been elected: December 31, 2017 December 31, 2016 Assets Private Equity $ 3,744 $ 96,721 Credit 4,381,519 1,392,525 Investments of Consolidated CFEs 15,573,203 13,950,897 Real Assets 343,820 247,376 Equity Method 1,384,739 791,418 Other 344,996 240,343 Total $ 22,032,021 $ 16,719,280 Liabilities Debt Obligations of Consolidated CFEs $ 15,586,216 $ 13,858,288 Total $ 15,586,216 $ 13,858,288 The following table presents the net realized and net change in unrealized gains (losses) on financial instruments on which the fair value option was elected for the years ended December 31, 2017 , 2016 and 2015, respectively: For the Years Ended December 31, 2017 2016 2015 Net Realized Gains (Losses) Net Unrealized Gains (Losses) Net Realized Net Unrealized Gains (Losses) Net Realized Net Unrealized Gains (Losses) Assets Private Equity $ (1,386 ) $ 38,791 $ (245,014 ) $ 238,600 $ 111,962 $ 86,419 Credit (464,512 ) 78,282 (144,854 ) 48,922 (22,847 ) (68,053 ) Investments of Consolidated CFEs (97,129 ) 352 (258,430 ) 444,142 (54,367 ) (220,577 ) Real Assets 13,112 44,136 8,835 4,159 (200,394 ) 213,171 Equity Method 18,883 (2,635 ) 3,830 (127,741 ) 7,703 (80,587 ) Other (32,217 ) 24,923 (10,361 ) (19,386 ) 9,984 (20,691 ) Total $ (563,249 ) $ 183,849 $ (645,994 ) $ 588,696 $ (147,959 ) $ (90,318 ) Liabilities Debt Obligations of Consolidated CFEs 83,146 11,768 325,548 (357,321 ) — (11,257 ) Total $ 83,146 $ 11,768 $ 325,548 $ (357,321 ) $ — $ (11,257 )

NET INCOME (LOSS) ATTRIBUTABL35

NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. L.P. PER COMMON UNIT (Tables)	12 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Schedule of basic and diluted Net Income (Loss) attributable to KKR & Co. earnings per common unit	For the years ended December 31, 2017 , 2016 and 2015, basic and diluted Net Income (Loss) attributable to KKR & Co. L.P. per common unit were calculated as follows: For the Years Ended December 31, 2017 2016 2015 Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders $ 984,941 $ 287,072 $ 488,482 Basic Net Income (Loss) Per Common Unit Weighted Average Common Units Outstanding - Basic 468,282,642 448,905,126 448,884,185 Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Basic $ 2.10 $ 0.64 $ 1.09 Diluted Net Income (Loss) Per Common Unit Weighted Average Common Units Outstanding - Basic 468,282,642 448,905,126 448,884,185 Weighted Average Unvested Common Units and Other Exchangeable Securities 38,006,329 34,525,922 33,815,009 Weighted Average Common Units Outstanding - Diluted 506,288,971 483,431,048 482,699,194 Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Diluted $ 1.95 $ 0.59 $ 1.01
Schedule of KKR Holdings units excluded from the calculation of diluted Net Income (Loss) attributable to KKR & Co. L.P. per common unit	For the Years Ended December 31, 2017 2016 2015 Weighted Average KKR Holdings Units Outstanding 344,422,095 357,873,788 368,399,872

OTHER ASSETS AND ACCOUNTS PAY36

OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2017
OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
Schedule of other assets	Other Assets consist of the following: December 31, 2017 December 31, 2016 Unsettled Investment Sales (1) $ 134,781 $ 144,600 Receivables 138,109 49,279 Due from Broker (2) 682,403 1,084,602 Oil & Gas Assets, net (3) 252,371 276,694 Deferred Tax Assets, net 131,944 286,948 Interest Receivable 189,785 158,511 Fixed Assets, net (4) 364,203 283,262 Foreign Exchange Contracts and Options (5) 96,584 240,627 Intangible Assets, net (6) 129,178 135,024 Goodwill (6) 83,500 89,000 Derivative Assets 85,074 81,593 Deferred Transaction Related Expenses 54,328 17,688 Prepaid Taxes 83,371 46,996 Prepaid Expenses 25,677 17,761 Deferred Financing Costs 7,534 10,507 Other 72,233 73,773 Total $ 2,531,075 $ 2,996,865 (1) Represents amounts due from third parties for investments sold for which cash settlement has not occurred. (2) Represents amounts held at clearing brokers resulting from securities transactions. (3) 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. Depreciation, depletion and amortization amounted to $24.7 million and $38.9 million for the years ended December 31, 2017 and 2016, respectively. Whenever events or changes in circumstances indicate that the carrying amounts of such oil and natural gas properties may not be recoverable, KKR evaluates its proved and unproved oil and natural gas properties and related equipment and facilities for impairment on a field-by-field basis. For the year ended December 31, 2017, there was no impairment charge. For the years ended December 31, 2016 and 2015, KKR recorded impairment charges totaling approximately $6.2 million and $54.0 million , respectively, to write down certain of its oil and natural gas properties. The impairment charge is recorded in General, Administrative and Other in the consolidated statements of operations. (4) Net of accumulated depreciation and amortization of $156,859 and $141,911 as of December 31, 2017 and December 31, 2016 , respectively. Depreciation and amortization expense of $15,329 , $16,045 and $15,418 for the years ended December 31, 2017 , 2016 and 2015, respectively, is included in General, Administrative and Other in the accompanying consolidated statements of operations. (5) Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign currency 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 consolidated statements of operations. See Note 3 "Net Gains (Losses) from Investment Activities" for the net changes in fair value associated with these instruments. (6) See Note 16 "Goodwill and Intangible Assets."
Schedule of accounts payable, accrued expenses and other liabilities	Accounts Payable, Accrued Expenses and Other Liabilities consist of the following: December 31, 2017 December 31, 2016 Amounts Payable to Carry Pool (1) $ 1,220,559 $ 987,994 Unsettled Investment Purchases (2) 885,945 722,076 Securities Sold Short (3) 692,007 647,234 Derivative Liabilities 69,381 100,015 Accrued Compensation and Benefits 35,953 20,764 Interest Payable 168,673 114,894 Foreign Exchange Contracts and Options (4) 260,948 75,218 Accounts Payable and Accrued Expenses 152,916 114,854 Deferred Rent 17,441 17,503 Taxes Payable 35,933 12,514 Uncertain Tax Positions Reserve 58,369 51,964 Redemptions Payable — 4,021 Due to Broker (5) — 83,206 Other Liabilities 56,125 29,003 Total $ 3,654,250 $ 2,981,260 (1) 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. (2) Represents amounts owed to third parties for investment purchases for which cash settlement has not occurred. (3) 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 consolidated statements of operations. See Note 3 "Net Gains (Losses) from Investment Activities" for the net changes in fair value associated with these instruments. (4) Represents derivative financial instruments used to manage foreign exchange risk arising from certain foreign currency 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 consolidated statements of operations. See Note 3 "Net Gains (Losses) from Investment Activities" for the net changes in fair value associated with these instruments. (5) Represents amounts owed for securities transactions initiated at clearing brokers.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	12 Months Ended
	Dec. 31, 2017
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 December 31, 2017 and 2016, the maximum exposure to loss, before allocations to the carry pool and noncontrolling interests, 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: December 31, 2017 December 31, 2016 Investments $ 4,417,003 $ 3,632,162 Due from (to) Affiliates, net 176,131 (60,604 ) Maximum Exposure to Loss $ 4,593,134 $ 3,571,558

DEBT OBLIGATIONS (Tables)

DEBT OBLIGATIONS (Tables)	12 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of borrowings	KKR's borrowings consisted of the following: December 31, 2017 December 31, 2016 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 487,656 — — 500,000 — — KCM Short-Term Credit Agreement 750,000 — — — — — Notes Issued: KKR Issued 6.375% Notes Due 2020 (1) — 498,390 549,000 (10) — 497,804 562,960 (10) KKR Issued 5.500% Notes Due 2043 (2) — 491,496 580,000 (10) — 491,158 502,800 (10) KKR Issued 5.125% Notes Due 2044 (3) — 990,375 1,107,100 (10) — 990,009 955,240 (10) KFN Issued 5.500% Notes Due 2032 (4) — 493,129 505,235 — — — KFN Issued 7.500% Notes Due 2042 (5) — — — — 123,008 116,699 (11) KFN Issued Junior Subordinated Notes (6) — 236,038 201,828 — 250,154 210,084 Other Consolidated Debt Obligations: Fund Financing Facilities and Other (7) 2,056,096 2,898,215 2,898,215 (12) 2,039,532 2,333,654 2,333,654 (12) CLO Senior Secured Notes (8) — 10,055,686 10,055,686 — 8,279,812 8,279,812 CLO Subordinated Notes (8) — 292,294 292,294 — 283,735 283,735 CMBS Debt Obligations (9) — 5,238,236 5,238,236 — 5,294,741 5,294,741 $ 4,293,752 $ 21,193,859 $ 21,427,594 $ 3,539,532 $ 18,544,075 $ 18,539,725 (1) $500 million aggregate principal amount of 6.375% senior notes of KKR due 2020. Borrowing outstanding is presented net of i) unamortized note discount and ii) unamortized debt issuance costs of $1.0 million and $1.4 million as of December 31, 2017 and 2016, respectively. (2) $500 million aggregate principal amount of 5.500% senior notes of KKR due 2043. Borrowing outstanding is presented net of i) unamortized note discount and ii) unamortized debt issuance costs of $3.7 million and $3.9 million as of December 31, 2017 and 2016, respectively. (3) $1.0 billion aggregate principal amount of 5.125% senior notes of KKR due 2044. Borrowing outstanding is presented net of i) unamortized note discount (net of premium) and ii) unamortized debt issuance costs of $8.3 million and $8.6 million as of December 31, 2017 and 2016, respectively. (4) KKR consolidates KFN and thus reports KFN's outstanding $500.0 million aggregate principal amount of 5.500% senior notes due 2032. Borrowing outstanding is presented net of i) unamortized note discount and ii) unamortized debt issuance costs of $4.7 million as of December 31, 2017 . 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. (5) KKR consolidates KFN and thus reports KFN's outstanding $115.0 million aggregate principal amount of 7.500% senior notes due 2042. These senior notes were redeemed in April 2017. Borrowing outstanding is presented net of unamortized note premium as of December 31, 2016. (6) KKR consolidates KFN and thus reports KFN's outstanding $264.8 million aggregate principal amount of junior subordinated notes. The weighted average interest rate is 3.8% and the weighted average years to maturity is 19.0 years as of December 31, 2017 . 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. (7) Certain of KKR's consolidated 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 4.2% and 2.4% as of December 31, 2017 and 2016, respectively. In addition, the weighted average years to maturity is 3.6 years and 2.4 years as of December 31, 2017 and 2016, respectively. (8) CLO debt obligations are carried at fair value and are classified as Level II within the fair value hierarchy. See Note 5 "Fair Value Measurements." (9) CMBS debt obligations are carried at fair value and are classified as Level III within the fair value hierarchy. See Note 5 "Fair Value Measurements." (10) The notes are classified as Level II within the fair value hierarchy and fair value is determined by third party broker quotes. (11) 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. (12) Carrying value approximates fair value given the fund financing facilities' interest rates are variable.
Schedule of debt obligations of consolidated CLOs	As of December 31, 2017 , debt obligations of consolidated CFEs consisted of the following: Borrowing Outstanding Weighted Average Interest Rate Weighted Average Remaining Maturity in Years Senior Secured Notes of Consolidated CLOs $ 10,055,686 2.7 % 11.8 Subordinated Notes of Consolidated CLOs 292,294 (1) 12.2 Debt Obligations of Consolidated CMBS Vehicles 5,238,236 4.3 % 26.7 $ 15,586,216 (1) 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, if any.
Scheduled principal payments for debt obligations	Scheduled principal payments for debt obligations at December 31, 2017 are as follows: Revolving Credit Facilities Notes Issued Other Consolidated Debt Obligations Total 2018 $ — $ — $ 962,910 $ 962,910 2019 ‑ 2020 — 500,000 2,174,242 2,674,242 2021 ‑ 2022 — — 476,262 476,262 2023 and thereafter — 2,264,800 15,056,468 17,321,268 $ — $ 2,764,800 $ 18,669,882 $ 21,434,682

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Schedule of provision (benefit) for income taxes	The provision (benefit) for income taxes consists of the following: For the Years Ended December 31, 2017 2016 2015 Current Federal Income Tax $ (34,611 ) $ (3,440 ) $ 27,978 State and Local Income Tax 5,229 (443 ) 6,320 Foreign Income Tax 79,371 (1) 38,052 42,036 Subtotal 49,989 34,169 76,334 Deferred Federal Income Tax 178,449 (15,032 ) (19,133 ) State and Local Income Tax (424 ) 1,348 8,264 Foreign Income Tax (3,688 ) (1) 4,076 1,171 Subtotal 174,337 (9,608 ) (9,698 ) Total Income Taxes $ 224,326 $ 24,561 $ 66,636 (1) The foreign income tax provision was calculated on $171.6 million of pre-tax income generated in foreign jurisdictions.
Reconciliation of effective income tax rate to the U.S federal statutory tax rate	The following table reconciles the U.S. Federal Statutory Tax Rate to the Effective Income Tax Rate: For the Years Ended December 31, 2017 2016 2015 Statutory U.S. Federal Income Tax Rate 35.00 % 35.00 % 35.00 % Income not attributable to KKR Management Holdings Corp. (1) (38.64 )% (42.68 )% (36.04 )% Foreign Income Taxes 2.62 % 4.32 % 0.81 % State and Local Income Taxes 0.05 % 0.05 % 0.21 % Compensation Charges Borne by KKR Holdings 6.29 % 8.20 % 1.92 % Change in Valuation Allowance 0.00 % (1.03 )% 0.29 % Impact of 2017 Tax Act 3.52 % 0.00 % 0.00 % Other (0.78 )% (1.34 )% (0.94 )% Effective Income Tax Rate 8.06 % 2.52 % 1.25 % (1) Represents primarily income attributable to (i) redeemable noncontrolling interests, (ii) noncontrolling interests and appropriated capital and (iii) investment income of certain entities and net carried interest of certain general partners of KKR investment funds that are not directly or indirectly owned by KKR Management Holdings L.P.
Schedule of components of the deferred tax assets or liabilities	A summary of the tax effects of the temporary differences is as follows: December 31, 2017 (3) December 31, 2016 Deferred Tax Assets Fund Management Fees $ 51,662 $ 59,963 Equity Based Compensation 19,749 30,094 KKR Holdings Unit Exchanges (1) 93,229 156,624 Depreciation and Amortization 13,421 24,919 Federal Foreign Tax Credit 15,028 15,028 Interest Limitation Carryforward (2) — 13,494 Net Operating Loss Carryforwards 4,346 33,867 Other 5,875 12,599 Total Deferred Tax Assets before Valuation Allowance 203,310 346,588 Valuation Allowance (11,872 ) (9,768 ) Total Deferred Tax Assets 191,438 336,820 Deferred Tax Liabilities Investment Basis Differences / Net Unrealized Gains 59,494 49,872 Total Deferred Tax Liabilities 59,494 49,872 Total Deferred Taxes, Net $ 131,944 $ 286,948 (1) In connection with exchanges of KKR Holdings units into common units of KKR & Co. L.P., KKR records a deferred tax asset associated with an increase in KKR Management Holdings Corp.'s share of the tax basis of the tangible and intangible assets of KKR Management Holdings L.P. This amount is offset by an adjustment to record amounts due to KKR Holdings and principals under the tax receivable agreement, which is included within Due to Affiliates in the consolidated statements of financial condition. The net impact of these adjustments was recorded as an adjustment to equity at the time of the exchanges. (2) Represents interest expense limitations under IRC Section 163(j) (as existing prior to the 2017 Tax Act), which has an indefinite carryforward. (3) A provisional adjustment in the amount of $97.9 million was recorded to adjust our U.S. federal deferred income tax assets and liabilities as of December 31, 2017 in order to reflect the impact of the 2017 Tax Act. A majority of this charge was due to the reduction in the U.S. statutory corporate tax rate from 35% to 21% .
Schedule of unrecognized tax benefits, excluding related interest and penalties	At December 31, 2017, 2016 and 2015, KKR's unrecognized tax benefits, excluding related interest and penalties, were: For the Years Ended December 31, 2017 2016 2015 Unrecognized Tax Benefits, beginning of period $ 43,996 $ 22,792 $ 7,180 Gross increases in tax positions in prior periods — — — Gross decreases in tax positions in prior periods — (1,351 ) (116 ) Gross increases in tax positions in current period 4,406 22,810 15,959 Lapse of statute of limitations (232 ) (255 ) (231 ) Unrecognized Tax Benefits, end of period $ 48,170 $ 43,996 $ 22,792

EQUITY BASED COMPENSATION (Tabl

EQUITY BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2017
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 years ended December 31, 2017 , 2016 and 2015, respectively. For the Years Ended December 31, 2017 2016 2015 Equity Incentive Plan Units $ 204,308 $ 186,227 $ 186,346 KKR Holdings Principal Awards 143,204 44,837 6,726 Other Exchangeable Securities — 12,091 16,119 KKR Holdings Restricted Equity Units — — 132 Total (1) $ 347,512 $ 243,155 $ 209,323 (1) Includes $11,214 of equity based charges for the year ended December 31, 2017 related to employees of equity method investees. Such amounts are included in Net Gains (Losses) from Investment Activities in the consolidated statements of operations.
Summary of significant assumptions used to estimate grant date fair value of Market Condition Awards	Below is a summary of the significant assumptions used to estimate the grant date fair value of the Market Condition Awards. Closing KKR unit price as of valuation date $19.90 Risk Free Rate 2.02 % Volatility 25.00 % Dividend Yield 3.42 % Expected Cost of Equity 11.02 %
Schedule of unrecognized expense of equity incentive plan awards expected to be recognized	As of December 31, 2017 , there was approximately $538.1 million of total estimated unrecognized expense related to unvested awards, including Market Condition Awards. That cost is expected to be recognized as follows: Year Unrecognized Expense 2018 227.5 2019 163.9 2020 103.0 2021 33.6 2022 9.2 2023 0.9 Total $ 538.1
Schedule of awards granted under equity incentive plan	A summary of the status of unvested awards granted under the Equity Incentive Plan, excluding Market Condition Awards as described above, from January 1, 2017 through December 31, 2017 is presented below: Units Weighted Average Grant Date Fair Value Balance, January 1, 2017 37,498,333 $ 13.85 Granted 24,209,434 16.45 Vested (12,077,165 ) 14.79 Forfeitures and Other (3,207,869 ) 13.52 Balance, December 31, 2017 46,422,733 $ 14.98
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 April 1, 2018 10,477,750 October 1, 2018 5,810,795 April 1, 2019 9,523,248 October 1, 2019 4,385,817 April 1, 2020 6,588,617 October 1, 2020 3,297,528 April 1, 2021 3,309,863 October 1, 2021 1,830,239 April 1, 2022 116,532 October 1, 2022 991,172 October 1, 2023 91,172 46,422,733
Schedule of unrecognized expense of unvested market condition awards expected to be recognized	As of December 31, 2017 , there was approximately $358.4 million of estimated unrecognized expense related to unvested KKR Holdings awards. That cost is expected to be recognized as follows: Year Unrecognized Expense 2018 $ 101.5 2019 96.2 2020 88.1 2021 47.4 2022 25.2 Total $ 358.4
Schedule of holding awards granted	A summary of the status of unvested awards granted under the KKR Holdings Plan from January 1, 2017 through December 31, 2017 is presented below: Units Weighted Average Grant Date Fair Value Balance, January 1, 2017 28,245,886 $ 12.10 Granted 14,700,000 17.64 Vested (6,062,425 ) 13.87 Forfeitures and Other (6,034,878 ) 11.94 Balance, December 31, 2017 30,848,583 $ 14.42
Schedule of remaining vesting tranches of holding awards granted	A summary of the remaining vesting tranches of awards granted under the KKR Holdings Plan is presented below: Vesting Date Units April 1, 2018 574,590 May 1, 2018 3,805,000 October 1, 2018 1,970,000 April 1, 2019 229,514 May 1, 2019 3,805,000 October 1, 2019 2,455,000 April 1, 2020 124,479 May 1, 2020 3,805,000 October 1, 2020 2,940,000 May 1, 2021 3,805,000 October 1, 2021 3,425,000 October 1, 2022 3,910,000 30,848,583

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2017
Related Party Transactions [Abstract]
Schedule of due from and to affiliates	Due from Affiliates consists of: December 31, 2017 December 31, 2016 Amounts due from portfolio companies $ 129,594 $ 66,940 Amounts due from unconsolidated investment funds 415,907 170,219 Amounts due from related entities 8,848 13,293 Due from Affiliates $ 554,349 $ 250,452 Due to Affiliates consists of: December 31, 2017 December 31, 2016 Amounts due to KKR Holdings in connection with the tax receivable agreement $ 84,034 $ 128,091 Amounts due to unconsolidated investment funds 239,776 231,388 Due to Affiliates $ 323,810 $ 359,479

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	12 Months Ended
	Dec. 31, 2017
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 Year Ended December 31, 2017 Private Markets Public Markets Capital Markets Principal Activities Total Segment Revenues Management, Monitoring and Transaction Fees, Net Management Fees $ 575,451 $ 329,737 $ — $ — $ 905,188 Monitoring Fees 81,021 — — — 81,021 Transaction Fees 288,879 48,370 439,998 — 777,247 Fee Credits (220,710 ) (40,719 ) — — (261,429 ) Total Management, Monitoring and Transaction Fees, Net 724,641 337,388 439,998 — 1,502,027 Performance Income (Loss) Realized Incentive Fees — 73,395 — — 73,395 Realized Carried Interest 1,198,981 — — — 1,198,981 Unrealized Carried Interest 520,807 79,435 — — 600,242 Total Performance Income (Loss) 1,719,788 152,830 — — 1,872,618 Investment Income (Loss) Net Realized Gains (Losses) — — — 194,020 194,020 Net Unrealized Gains (Losses) — — — 395,358 395,358 Total Realized and Unrealized — — — 589,378 589,378 Interest Income and Dividends — — — 285,696 285,696 Interest Expense — — — (181,612 ) (181,612 ) Net Interest and Dividends — — — 104,084 104,084 Total Investment Income (Loss) — — — 693,462 693,462 Total Segment Revenues 2,444,429 490,218 439,998 693,462 4,068,107 Segment Expenses Compensation and Benefits Cash Compensation and Benefits 261,123 63,637 80,093 140,134 544,987 Realized Performance Income Compensation 504,092 29,358 — — 533,450 Unrealized Performance Income Compensation 213,785 33,816 — — 247,601 Total Compensation and Benefits 979,000 126,811 80,093 140,134 1,326,038 Occupancy and Related Charges 32,458 6,478 2,747 14,727 56,410 Other Operating Expenses 137,055 31,317 20,513 54,887 243,772 Total Segment Expenses 1,148,513 164,606 103,353 209,748 1,626,220 Income (Loss) attributable to noncontrolling interests — — 6,551 — 6,551 Economic Net Income (Loss) $ 1,295,916 $ 325,612 $ 330,094 $ 483,714 $ 2,435,336 Total Assets $ 2,313,801 $ 1,534,027 $ 484,792 $ 11,428,692 $ 15,761,312 As of and for the Year Ended December 31, 2016 Private Markets Public Markets Capital Markets Principal Activities Total Segment Revenues Management, Monitoring and Transaction Fees, Net Management Fees $ 466,422 $ 331,440 $ — $ — $ 797,862 Monitoring Fees 64,354 — — — 64,354 Transaction Fees 132,602 30,155 181,517 — 344,274 Fee Credits (103,579 ) (28,049 ) — — (131,628 ) Total Management, Monitoring and Transaction Fees, Net 559,799 333,546 181,517 — 1,074,862 Performance Income (Loss) Realized Incentive Fees — 33,346 — — 33,346 Realized Carried Interest 1,252,370 3,838 — — 1,256,208 Unrealized Carried Interest (416,060 ) (4,312 ) — — (420,372 ) Total Performance Income (Loss) 836,310 32,872 — — 869,182 Investment Income (Loss) Net Realized Gains (Losses) — — — 371,563 371,563 Net Unrealized Gains (Losses) — — — (584,423 ) (584,423 ) Total Realized and Unrealized — — — (212,860 ) (212,860 ) Interest Income and Dividends — — — 322,857 322,857 Interest Expense — — — (188,761 ) (188,761 ) Net Interest and Dividends — — — 134,096 134,096 Total Investment Income (Loss) — — — (78,764 ) (78,764 ) Total Segment Revenues 1,396,109 366,418 181,517 (78,764 ) 1,865,280 Segment Expenses Compensation and Benefits Cash Compensation and Benefits 194,240 77,017 29,552 94,207 395,016 Realized Performance Income Compensation 523,448 14,873 — — 538,321 Unrealized Performance Income Compensation (159,786 ) (1,724 ) — — (161,510 ) Total Compensation and Benefits 557,902 90,166 29,552 94,207 771,827 Occupancy and Related Charges 35,785 9,517 2,474 14,624 62,400 Other Operating Expenses 135,425 38,439 14,994 45,490 234,348 Total Segment Expenses 729,112 138,122 47,020 154,321 1,068,575 Income (Loss) attributable to noncontrolling interests — — 2,336 — 2,336 Economic Net Income (Loss) $ 666,997 $ 228,296 $ 132,161 $ (233,085 ) $ 794,369 Total Assets $ 1,645,364 $ 1,123,103 $ 354,187 $ 10,210,487 $ 13,333,141 As of and for the Year Ended December 31, 2015 Private Markets Public Markets Capital Markets Principal Activities Total Segment Revenues Management, Monitoring and Transaction Fees, Net Management Fees $ 465,575 $ 266,458 $ — $ — $ 732,033 Monitoring Fees 264,643 — — — 264,643 Transaction Fees 144,652 28,872 191,470 — 364,994 Fee Credits (195,025 ) (24,595 ) — — (219,620 ) Total Management, Monitoring and Transaction Fees, Net 679,845 270,735 191,470 — 1,142,050 Performance Income (Loss) Realized Incentive Fees — 19,647 — — 19,647 Realized Carried Interest 1,018,201 8,953 — — 1,027,154 Unrealized Carried Interest 182,628 (19,083 ) — — 163,545 Total Performance Income (Loss) 1,200,829 9,517 — — 1,210,346 Investment Income (Loss) Net Realized Gains (Losses) — — — 337,023 337,023 Net Unrealized Gains (Losses) — — — (391,962 ) (391,962 ) Total Realized and Unrealized — — — (54,939 ) (54,939 ) Interest Income and Dividends — — — 411,536 411,536 Interest Expense — — — (203,085 ) (203,085 ) Net Interest and Dividends — — — 208,451 208,451 Total Investment Income (Loss) — — — 153,512 153,512 Total Segment Revenues 1,880,674 280,252 191,470 153,512 2,505,908 Segment Expenses Compensation and Benefits Cash Compensation and Benefits 193,995 73,863 34,562 107,572 409,992 Realized Performance Income Compensation 407,280 11,438 — — 418,718 Unrealized Performance Income Compensation 74,560 (7,633 ) — — 66,927 Total Compensation and Benefits 675,835 77,668 34,562 107,572 895,637 Occupancy and Related Charges 33,640 9,808 2,641 16,568 62,657 Other Operating Expenses 127,836 40,591 14,618 50,573 233,618 Total Segment Expenses 837,311 128,067 51,821 174,713 1,191,912 Income (Loss) attributable to noncontrolling interests 1,645 1,259 13,103 — 16,007 Economic Net Income (Loss) $ 1,041,718 $ 150,926 $ 126,546 $ (21,201 ) $ 1,297,989 Total Assets $ 1,831,716 $ 1,232,404 $ 521,927 $ 9,843,251 $ 13,429,298
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 the most directly comparable financial measures calculated and presented in accordance with GAAP to KKR's total reportable segments: Fees and Other For the Years Ended December 31, 2017 2016 2015 Fees and Other $ 3,282,265 $ 1,908,093 $ 1,043,768 Plus: Management fees relating to consolidated funds and placement fees 204,943 178,619 531,027 Less: Fee credits relating to consolidated funds 4,028 2,921 202,269 Plus: Net realized and unrealized carried interest - consolidated funds 58,562 32,651 1,190,699 Plus: Total investment income (loss) 693,462 (78,764 ) 153,512 Less: Revenue earned by oil & gas producing entities 63,460 65,754 112,328 Less: Reimbursable expenses 123,144 81,549 66,144 Less: Other (19,507 ) 25,095 32,357 Total Segment Revenues $ 4,068,107 $ 1,865,280 $ 2,505,908 Expenses For the Years Ended December 31, 2017 2016 2015 Total Expenses $ 2,336,692 $ 1,695,474 $ 1,871,225 Less: Equity based compensation 334,821 264,890 261,579 Less: Reimbursable expenses and placement fees 181,839 148,483 103,307 Less: Operating expenses relating to consolidated funds, CFEs and other entities 82,888 104,339 65,012 Less: Expenses incurred by oil & gas producing entities 46,411 70,312 153,611 Less: Intangible amortization 17,821 6,647 49,766 Less: Other 46,692 32,228 46,038 Total Segment Expenses $ 1,626,220 $ 1,068,575 $ 1,191,912 Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders For the Years Ended December 31, 2017 2016 2015 Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders $ 984,941 $ 287,072 $ 488,482 Plus: Preferred Distributions 33,364 22,235 — Plus: Net income (loss) attributable to noncontrolling interests held by KKR Holdings L.P. 791,021 212,878 433,693 Plus: Non-cash equity-based charges 346,035 264,890 261,579 Plus: Amortization of intangibles, placement fees and other, net (1) 122,870 (17,267 ) 47,599 Less: Gain from remeasurement of tax receivable agreement liability (2) (67,221 ) — — Plus: Income tax (benefit) 224,326 24,561 66,636 Economic Net Income (Loss) $ 2,435,336 $ 794,369 $ 1,297,989 (1) Other primarily represents the statement of operations impact of the accounting convention differences for (i) direct interests in oil & natural gas properties outside of investment funds and (ii) certain interests in consolidated CLOs and other entities. On a segment basis, direct interests in oil & natural gas properties outside of investment funds are carried at fair value with changes in fair value recorded in Economic Net Income (Loss) and certain interests in consolidated CLOs and other entities are carried at cost. See Note 2 "Summary of Significant Accounting Policies" for the GAAP accounting for these direct interests in oil and natural gas producing properties outside investment funds and interests in consolidated CLOs and other entities. (2) Represents the impacts of the remeasurement of the tax receivable agreement which arises from changes in the associated deferred tax balance, including the impacts related to the 2017 Tax Act.
Reconciliation of assets from segment to consolidated	Assets December 31, 2017 December 31, 2016 Total Assets $ 45,834,719 $ 39,002,897 Less: Impact of consolidation of funds and other entities (1) 28,659,078 24,367,570 Less: Carry pool reclassification from liabilities 1,220,559 987,994 Less: Impact of KKR Management Holdings Corp. 193,770 314,192 Total Segment Assets $ 15,761,312 $ 13,333,141 (1) Includes accounting basis difference for oil & natural gas properties of $25,042 and $15,242 as of December 31, 2017 and 2016, respectively.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of intangible assets, net	Intangible Assets, Net consists of the following: December 31, 2017 December 31, 2016 Finite-Lived Intangible Assets $ 190,526 $ 251,768 Accumulated Amortization (61,348 ) (116,744 ) Intangible Assets, Net $ 129,178 $ 135,024
Schedule of changes in intangible assets, net	Changes in Intangible Assets, Net consists of the following: For the Years Ended December 31, 2017 2016 Balance, Beginning of Period $ 135,024 $ 176,987 Amortization Expense (17,811 ) (26,387 ) Foreign Exchange 2,173 (160 ) Additions (1) 115,425 — Write-Offs (2) — (15,416 ) Other (3) (105,633 ) — Balance, End of Period $ 129,178 $ 135,024 (1) Represents acquired investment management contractual rights. (2) Represents the write-off of certain investment management contractual rights. (3) Represents the removal of intangible assets in connection with the PAAMCO Prisma transaction.
Schedule of future amortization expense	Amortization expense including foreign exchange relating to intangible assets held at December 31, 2017 is expected to be as follows: 2018 $ 16,401 2019 13,328 2020 13,160 2021 12,590 2022 12,475 2023 and thereafter 61,224 $ 129,178

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Schedule of minimum future lease payments	As of December 31, 2017 , the approximate aggregate minimum future lease payments, net of sublease income, required on the operating leases are as follows: 2018 $ 51,203 2019 49,233 2020 45,544 2021 13,618 2022 and thereafter 23,817 Total minimum payments required $ 183,415

QUARTERLY FINANCIAL DATA (Table

QUARTERLY FINANCIAL DATA (Tables)	12 Months Ended
	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Schedule of quarterly financial information	For the Three Months Ended, March 31, 2017 June 30, 2017 September 30, 2017 December 31, 2017 Statement of Operations Data: Fees and Other $ 715,952 $ 931,788 $ 692,877 $ 941,648 Less: Total Expenses 540,014 629,728 530,247 636,703 Total Investment Income (Loss) 662,498 585,002 234,728 356,567 Income (Loss) Before Taxes 838,436 887,062 397,358 661,512 Income Tax / (Benefit) 40,542 18,538 18,420 146,826 Net Income (Loss) 797,894 868,524 378,938 514,686 Less: Net Income (Loss) Attributable to Redeemable Noncontrolling Interests 20,933 22,387 20,876 9,776 Less: Net Income (Loss) Attributable to Noncontrolling Interests 509,277 432,150 196,158 330,180 Net Income (Loss) Attributable to KKR & Co. L.P. 267,684 413,987 161,904 174,730 Less: Net Income Attributable to Series A Preferred Unitholders 5,822 5,822 5,822 5,822 Less: Net Income Attributable to Series B Preferred Unitholders 2,519 2,519 2,519 2,519 Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders $ 259,343 $ 405,646 $ 153,563 $ 166,389 Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit Basic $ 0.57 $ 0.87 $ 0.33 $ 0.35 Diluted $ 0.52 $ 0.81 $ 0.30 $ 0.32 Weighted Average Common Units Outstanding Basic 453,695,846 466,170,025 471,758,886 481,165,742 Diluted 496,684,340 501,177,423 506,873,177 520,156,583 For the Three Months Ended, March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Statement of Operations Data: Fees and Other $ 162,805 $ 576,757 $ 687,056 $ 481,475 Less: Total Expenses 308,323 423,218 511,117 452,816 Total Investment Income (Loss) (612,928 ) 125,737 809,649 440,148 Income (Loss) Before Taxes (758,446 ) 279,276 985,588 468,807 Income Tax / (Benefit) 1,890 6,045 10,826 5,800 Net Income (Loss) (760,336 ) 273,231 974,762 463,007 Less: Net Income (Loss) Attributable to Redeemable Noncontrolling Interests (38 ) 1,533 3,121 (13,092 ) Less: Net Income (Loss) Attributable to Noncontrolling Interests (430,359 ) 172,115 611,288 296,789 Net Income (Loss) Attributable to KKR & Co. L.P. (329,939 ) 99,583 360,353 179,310 Less: Net Income Attributable to Series A Preferred Unitholders — 5,693 5,822 5,822 Less: Net Income Attributable to Series B Preferred Unitholders — — 2,379 2,519 Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders $ (329,939 ) $ 93,890 $ 352,152 $ 170,969 Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit Basic $ (0.73 ) $ 0.21 $ 0.79 $ 0.38 Diluted $ (0.73 ) $ 0.19 $ 0.73 $ 0.35 Weighted Average Common Units Outstanding Basic 450,262,143 448,221,538 445,989,300 451,154,845 Diluted 450,262,143 481,809,612 479,975,675 484,312,804

ORGANIZATION - Narrative (Detai

ORGANIZATION - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Jun. 01, 2017
Group Holdings
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage owned by KKR Holdings L.P.	99.00%
Management Holdings Corp
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage of economic interest held by parent entity	1.00%
KKR Group Partnerships
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Percentage owned by KKR Holdings L.P.	40.90%	43.90%
Percentage of economic interest held by parent entity	59.10%
PAAMCO Prisma
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Assets contributed to combined entity			$ 114.1
Ownership stake in combined entity to be retained			39.90%
Fair value of payments to be received			$ 131.6

ORGANIZATION - Changes in Owner

ORGANIZATION - Changes in Ownership Interests (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net income (loss) attributable to KKR & Co. L.P.	$ 174,730	$ 161,904	$ 413,987	$ 267,684	$ 179,310	$ 360,353	$ 99,583	$ (329,939)	$ 1,018,305	$ 309,307	$ 488,482
Exchange of KKR Group Partnership units held by KKR Holdings L.P.									247,946	90,910	212,043
Change from net income (loss) attributable to KKR & Co. L.P. and transfers from noncontrolling interests held by KKR Holdings									$ 1,266,251	$ 400,217	$ 700,525
Exchange of KKR Holdings L.P. Units and Other Securities to KKR & Co. L.P. Common Units (in units)									17,786,064	7,589,190	15,850,161

SUMMARY OF SIGNIFICANT ACCOUN48

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Redeemable Noncontrolling Interests (Details)	12 Months Ended
	Dec. 31, 2017
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 ACCOUN49

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Noncontrolling Interests in Consolidated Entities (Details)	Mar. 17, 2016	Dec. 31, 2017	Dec. 31, 2015
Accounting Policies [Abstract]
Percentage of carried interest received by general partners (up to)			1.00%
Percentage of other profits (losses) received by general partners			1.00%
Series A LLC Preferred Stock
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Preferred units dividend rate (as a percent)	6.75%
Series A LLC Preferred Stock | KFN
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Preferred units dividend rate (as a percent)		7.375%

SUMMARY OF SIGNIFICANT ACCOUN50

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Noncontrolling Interests Held by KKR Holdings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Calculation of Noncontrolling Interest [Abstract]
Capital contributions	$ 3,119,917	$ 2,525,635	$ 6,274,296
Capital distributions	(2,471,179)	(2,401,859)	(13,894,264)
Transfer of interests under common control and Other (See Note 15 Equity)	0
Noncontrolling Interests held by KKR Holdings
Calculation of Noncontrolling Interest [Abstract]
Balance at the beginning of the period	4,293,337	4,347,153	4,661,679
Net income (loss) attributable to noncontrolling interests held by KKR Holdings	791,021	212,878	433,693
Other comprehensive income (loss), net of tax	21,904	(10,514)	(14,030)
Impact of the exchange of KKR Holdings units to KKR & Co. L.P. common units	(238,941)	(89,182)	(203,127)
Equity based compensation	141,727	66,572	59,114
Capital contributions	3,028	241,748	25,573
Capital distributions	(235,610)	(475,318)	(615,749)
Transfer of interests under common control and Other (See Note 15 Equity)	17,009	0	0
Balance at the end of the period	$ 4,793,475	$ 4,293,337	$ 4,347,153

SUMMARY OF SIGNIFICANT ACCOUN51

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Net Income (Loss) Attributable To Noncontrolling Interests Held by KKR Holdings (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Net Income (Loss) Attributable to Noncontrolling Interest [Abstract]
Net Income (Loss)	$ 514,686	$ 378,938	$ 868,524	$ 797,894	$ 463,007	$ 974,762	$ 273,231	$ (760,336)	$ 2,560,042	$ 950,664	$ 5,275,032
Less: Net income (loss) attributable to Redeemable Noncontrolling Interests	$ 9,776	$ 20,876	$ 22,387	$ 20,933	$ (13,092)	$ 3,121	$ 1,533	$ (38)	73,972	(8,476)	(4,512)
Less: Net income (loss) attributable to Noncontrolling Interests in consolidated entities									676,744	436,955	4,357,369
Less: Net income (loss) attributable to Series A and Series B Preferred Unitholders									33,364	22,235	0
Plus: Income tax / (benefit) attributable to KKR Management Holdings Corp.									150,812	(18,937)	21,241
Less: Gain from remeasurement of tax receivable agreement liability attributable to KKR Management Holdings Corp.									67,221	0	0
Net income (loss) attributable to KKR & Co. L.P. Common Unitholders and KKR Holdings									1,859,553	481,013	943,416
Noncontrolling Interests held by KKR Holdings
Net Income (Loss) Attributable to Noncontrolling Interest [Abstract]
Net income (loss) attributable to noncontrolling interests held by KKR Holdings									$ 791,021	$ 212,878	$ 433,693

SUMMARY OF SIGNIFICANT ACCOUN52

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fair Value Measurement (Details)	12 Months Ended
	Dec. 31, 2017methodology
Accounting Policies [Abstract]
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 (up to 100%)	100.00%
Minimum
Fair Value Measurements
Illiquidity discount (as a percent)	5.00%
Private markets investments valuation | Level III | Maximum
Fair Value Measurements
Percentage of fair value of investments for which valuations reviewed quarterly (less than)	5.00%

SUMMARY OF SIGNIFICANT ACCOUN53

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fees and Other (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Management Fees									$ 700,245	$ 619,243	$ 201,006
Transaction Fees									783,952	350,091	354,895
Monitoring Fees									204,165	146,967	336,159
Fee Credits									(257,401)	(128,707)	(17,351)
Carried Interest									1,740,661	803,185	0
Incentive Fees									4,601	8,709	16,415
Oil and Gas Revenue									63,460	65,754	112,328
Consulting Fees									42,582	42,851	40,316
Total Fees and Other	$ 941,648	$ 692,877	$ 931,788	$ 715,952	$ 481,475	$ 687,056	$ 576,757	$ 162,805	$ 3,282,265	1,908,093	1,043,768
Fees and Commissions [Line Items]
Gross management fees as a percentage of committed capital, low end of range									1.00%
Gross management fees as a percentage of committed capital, high end of range									2.00%
Maximum length of investment period									6 years
Percentage of cash management fees that will be refunded (up to)									20.00%
Percentage used to derive management fees for separately managed accounts, low end of range	0.50%								0.50%
Percentage used to derive management fees for separately managed accounts, high end of range	2.00%								2.00%
Incentive fee, low end of range (as a percent)									5.00%
Incentive fee, high end of range (as a percent)									20.00%
Measurement period (in years)									1 year
Reportable segments
Accounting Policies [Abstract]
Fee Credits									$ (261,429)	(131,628)	(219,620)
Incentive Fees									1,198,981	1,256,208	1,027,154
Total Fees and Other									$ 1,502,027	$ 1,074,862	$ 1,142,050
Minimum
Fees and Commissions [Line Items]
Gross management fees as a percentage of capital									0.75%
Percentage of collateral to derive senior collateral management fees	0.15%								0.15%
Percentage of collateral to derive subordinate collateral management fees	0.20%								0.20%
Minimum | Reportable segments
Fees and Commissions [Line Items]
Fee Credits as a percentage of monitoring and transaction fees net of fund-related expenses									80.00%
Maximum
Fees and Commissions [Line Items]
Gross management fees as a percentage of capital									1.25%
Percentage of collateral to derive senior collateral management fees	0.20%								0.20%
Percentage of collateral to derive subordinate collateral management fees	0.35%								0.35%
Maximum | Reportable segments
Fees and Commissions [Line Items]
Fee Credits as a percentage of monitoring and transaction fees net of fund-related expenses									100.00%

SUMMARY OF SIGNIFICANT ACCOUN54

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Compensation and Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Expenses incurred with connection with profit sharing plan	$ 8.2	$ 8	$ 7.9
Minimum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Percentage of carried interest earned allocated to principals, other professionals and operating consultants	40.00%
Maximum
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Percentage of carried interest earned allocated to principals, other professionals and operating consultants	43.00%

SUMMARY OF SIGNIFICANT ACCOUN55

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Fixed Assets, Depreciation, and Amortization (Details)	12 Months Ended
	Dec. 31, 2017
Minimum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	3 years
Maximum
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life	7 years

NET GAINS (LOSSES) FROM INVES56

NET GAINS (LOSSES) FROM INVESTMENT ACTIVITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	$ 38,316	$ 347,097	$ 3,001,884
Net Unrealized Gains (Losses)	1,164,843	(4,200)	1,670,743
Total	1,203,159	342,897	4,672,627
Private Equity
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	223,568	306,180	4,452,593
Net Unrealized Gains (Losses)	338,720	(196,892)	1,140,377
Total	562,288	109,288	5,592,970
Credit, Equity Method and Other
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	(1,232,645)	(825,822)	138,915
Net Unrealized Gains (Losses)	860,102	4,280	(800,027)
Total	(372,543)	(821,542)	(661,112)
Investments of Consolidated CFEs
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	(97,129)	(258,430)	(54,367)
Net Unrealized Gains (Losses)	352	444,142	(220,577)
Total	(96,777)	185,712	(274,944)
Real Assets
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	(18,722)	87,512	(2,035,727)
Net Unrealized Gains (Losses)	218,728	141,886	1,591,541
Total	200,006	229,398	(444,186)
Foreign Exchange Forward Contracts and Options
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	(31,772)	108,404	415,370
Net Unrealized Gains (Losses)	(342,849)	(7,986)	87,482
Total	(374,621)	100,418	502,852
Securities Sold Short
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	1,116,325	594,743	(6,860)
Net Unrealized Gains (Losses)	97,811	(90,607)	3,909
Total	1,214,136	504,136	(2,951)
Other Derivatives
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	(7,129)	(49,712)	17,694
Net Unrealized Gains (Losses)	(23,687)	70,534	2,449
Total	(30,816)	20,822	20,143
Debt Obligations and Other
Gain (Loss) on Investments [Line Items]
Net Realized Gains (Losses)	85,820	384,222	74,266
Net Unrealized Gains (Losses)	15,666	(369,557)	(134,411)
Total	$ 101,486	$ 14,665	$ (60,145)

INVESTMENTS - Summary of Invest

INVESTMENTS - Summary of Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Investments
Investments owned, at fair value	$ 39,013,934	$ 31,409,765
Private Equity
Investments
Investments owned, at fair value	3,301,261	2,915,667
Credit
Investments
Investments owned, at fair value	7,621,320	4,847,936
Investments of Consolidated CFEs
Investments
Investments owned, at fair value	15,573,203	13,950,897
Real Assets
Investments
Investments owned, at fair value	2,302,061	1,807,128
Equity Method
Investments
Investments owned, at fair value	4,552,515	2,728,995
Carried Interest
Investments
Investments owned, at fair value	2,904,287	2,384,177
Other
Investments
Investments owned, at fair value	$ 2,759,287	$ 2,774,965

INVESTMENTS - Narrative (Detail

INVESTMENTS - Narrative (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Nov. 30, 2017	Nov. 02, 2015
Investments | Investment Concentration Risk
Investments
Threshold percentage of total investments (greater than)	5.00%	5.00%
Marshall Wace
Investments
Equity interests acquired (as a percent)	24.90%			24.90%
Incremental increase in interest in acquiree				5.00%
Entity interests acquired, option to increase, potential interest in acquiree (as a percent)	39.90%			39.90%
Marshall Wace
Investments
Equity method investment, additional interest acquired			5.00%

INVESTMENTS - Carried Interest

INVESTMENTS - Carried Interest (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Schedule of Nonconsolidated Carried Interest [Roll Forward]
Balance at December 31, 2016	$ 2,384,177
Carried Interest Allocated as a result of Changes in Fund Fair Value	1,740,661
Cash Proceeds Received	(1,220,551)
Balance at December 31, 2017	$ 2,904,287

INVESTMENTS - Summarized Financ

INVESTMENTS - Summarized Financial Information of Equity Method Investments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Equity Method Investment, Summarized Financial Information [Abstract]
Total Assets	$ 66,989,419	$ 46,607,136
Total Liabilities	10,510,223	4,368,696
Total Equity	56,479,196	42,238,440
Equity Method Investment, Summarized Financial Information, Income Statement [Abstract]
Investment Related Revenues	1,167,038	1,195,404	$ 240,877
Other Revenues	3,002,987	1,201,693	623,714
Investment Related Expenses	482,336	464,616	53,081
Other Expenses	2,392,965	801,342	675,293
Net Realized and Unrealized Gain/(Loss) from Investments	9,217,912	3,625,293	(307,301)
Net Income (Loss)	$ 10,512,636	$ 4,756,432	$ (171,084)

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Nov. 02, 2015
Marshall Wace
Liabilities, at fair value:
Equity interests acquired (as a percent)	24.90%		24.90%
Entity interests acquired, option to increase, potential interest in acquiree (as a percent)	39.90%		39.90%
Level III | Private Equity
Assets, at fair value:
Total Assets	$ 2,172,290
Level III | Credit
Assets, at fair value:
Total Assets	5,138,937
Level III | Investments of Consolidated CFEs
Assets, at fair value:
Total Assets	5,353,090
Level III | Real Assets
Assets, at fair value:
Total Assets	2,251,267
Level III | Other
Assets, at fair value:
Total Assets	1,760,011
Fair value measured on recurring basis
Assets, at fair value:
Total Investments	32,941,871	$ 27,088,011
Total Assets	33,123,529	27,410,231
Liabilities, at fair value:
Securities Sold Short	692,007	647,234
Unfunded Revolver Commitments	17,629	9,023
Total Liabilities	16,626,181	14,689,778
Fair value measured on recurring basis | Debt Obligations of Consolidated CFEs
Liabilities, at fair value:
Total Liabilities	15,586,216	13,858,288
Fair value measured on recurring basis | Foreign Exchange Forward Contracts
Assets, at fair value:
Total Assets	96,584	240,627
Liabilities, at fair value:
Total Liabilities	260,948	75,218
Fair value measured on recurring basis | Other Derivatives
Assets, at fair value:
Total Assets	85,074	81,593
Liabilities, at fair value:
Total Liabilities	69,381	100,015
Fair value measured on recurring basis | Private Equity
Assets, at fair value:
Total Investments	3,301,261	2,915,667
Fair value measured on recurring basis | Credit
Assets, at fair value:
Total Investments	7,621,320	4,847,936
Fair value measured on recurring basis | Investments of Consolidated CFEs
Assets, at fair value:
Total Investments	15,573,203	13,950,897
Fair value measured on recurring basis | Real Assets
Assets, at fair value:
Total Investments	2,302,061	1,807,128
Fair value measured on recurring basis | Equity Method
Assets, at fair value:
Total Investments	1,384,739	791,418
Fair value measured on recurring basis | Other
Assets, at fair value:
Total Investments	2,759,287	2,774,965
Fair value measured on recurring basis | Level I
Assets, at fair value:
Total Investments	2,019,338	2,234,785
Total Assets	2,019,338	2,234,785
Liabilities, at fair value:
Securities Sold Short	692,007	644,196
Unfunded Revolver Commitments	0	0
Total Liabilities	692,007	644,196
Fair value measured on recurring basis | Level I | Debt Obligations of Consolidated CFEs
Liabilities, at fair value:
Total Liabilities	0	0
Fair value measured on recurring basis | Level I | Foreign Exchange Forward Contracts
Assets, at fair value:
Total Assets	0	0
Liabilities, at fair value:
Total Liabilities	0	0
Fair value measured on recurring basis | Level I | Other Derivatives
Assets, at fair value:
Total Assets	0	0
Liabilities, at fair value:
Total Liabilities	0	0
Fair value measured on recurring basis | Level I | Private Equity
Assets, at fair value:
Total Investments	1,043,390	1,240,108
Fair value measured on recurring basis | Level I | Credit
Assets, at fair value:
Total Investments	0	0
Fair value measured on recurring basis | Level I | Investments of Consolidated CFEs
Assets, at fair value:
Total Investments	0	0
Fair value measured on recurring basis | Level I | Real Assets
Assets, at fair value:
Total Investments	50,794	0
Fair value measured on recurring basis | Level I | Equity Method
Assets, at fair value:
Total Investments	60,282	0
Fair value measured on recurring basis | Level I | Other
Assets, at fair value:
Total Investments	864,872	994,677
Fair value measured on recurring basis | Level II
Assets, at fair value:
Total Investments	13,170,229	10,451,863
Total Assets	13,299,938	10,774,083
Liabilities, at fair value:
Securities Sold Short	0	3,038
Unfunded Revolver Commitments	0	9,023
Total Liabilities	10,636,509	8,694,841
Fair value measured on recurring basis | Level II | Debt Obligations of Consolidated CFEs
Liabilities, at fair value:
Total Liabilities	10,347,980	8,563,547
Fair value measured on recurring basis | Level II | Foreign Exchange Forward Contracts
Assets, at fair value:
Total Assets	96,584	240,627
Liabilities, at fair value:
Total Liabilities	260,948	75,218
Fair value measured on recurring basis | Level II | Other Derivatives
Assets, at fair value:
Total Assets	33,125	81,593
Liabilities, at fair value:
Total Liabilities	27,581	44,015
Fair value measured on recurring basis | Level II | Private Equity
Assets, at fair value:
Total Investments	85,581	116,000
Fair value measured on recurring basis | Level II | Credit
Assets, at fair value:
Total Investments	2,482,383	1,557,575
Fair value measured on recurring basis | Level II | Investments of Consolidated CFEs
Assets, at fair value:
Total Investments	10,220,113	8,544,677
Fair value measured on recurring basis | Level II | Real Assets
Assets, at fair value:
Total Investments	0	0
Fair value measured on recurring basis | Level II | Equity Method
Assets, at fair value:
Total Investments	247,748	220,896
Fair value measured on recurring basis | Level II | Other
Assets, at fair value:
Total Investments	134,404	12,715
Fair value measured on recurring basis | Level III
Assets, at fair value:
Total Investments	17,752,304	14,401,363
Total Assets	17,804,253	14,401,363
Liabilities, at fair value:
Securities Sold Short	0	0
Unfunded Revolver Commitments	17,629	0
Total Liabilities	5,297,665	5,350,741
Fair value measured on recurring basis | Level III | Debt Obligations of Consolidated CFEs
Liabilities, at fair value:
Total Liabilities	5,238,236	5,294,741
Fair value measured on recurring basis | Level III | Foreign Exchange Forward Contracts
Assets, at fair value:
Total Assets	0	0
Liabilities, at fair value:
Total Liabilities	0	0
Fair value measured on recurring basis | Level III | Other Derivatives
Assets, at fair value:
Total Assets	51,949	0
Liabilities, at fair value:
Total Liabilities	41,800	56,000
Fair value measured on recurring basis | Level III | Private Equity
Assets, at fair value:
Total Investments	2,172,290	1,559,559
Fair value measured on recurring basis | Level III | Credit
Assets, at fair value:
Total Investments	5,138,937	3,290,361
Fair value measured on recurring basis | Level III | Investments of Consolidated CFEs
Assets, at fair value:
Total Investments	5,353,090	5,406,220
Fair value measured on recurring basis | Level III | Real Assets
Assets, at fair value:
Total Investments	2,251,267	1,807,128
Fair value measured on recurring basis | Level III | Equity Method
Assets, at fair value:
Total Investments	1,076,709	570,522
Fair value measured on recurring basis | Level III | Other
Assets, at fair value:
Total Investments	$ 1,760,011	$ 1,767,573

FAIR VALUE MEASUREMENTS - Chang

FAIR VALUE MEASUREMENTS - Changes in Level III Investments (Details) - Level III - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Total Level III Investments
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	$ 14,401,363	$ 31,436,968
Transfers Out Due to Deconsolidation of Funds	4,217	(23,824,091)
Transfers In	3,511	4,571,873
Transfers Out	(32,699)	(422,752)
Asset Purchases / Debt Issuances	4,773,425	4,209,094
Sales / Paydowns	(2,528,602)	(1,745,344)
Settlements	134,561	128,299
Net Realized Gains (Losses)	(127,518)	(154,307)
Net Unrealized Gains (Losses)	1,093,866	206,057
Change in Other Comprehensive Income	30,180	(4,434)
Balance, End of Period	17,752,304	14,401,363
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date	973,558	(11,735)
Private Equity
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	1,559,559	18,903,538
Transfers Out Due to Deconsolidation of Funds	0	(17,856,098)
Transfers In	0	0
Transfers Out	(14,532)	(104,000)
Asset Purchases / Debt Issuances	427,914	591,459
Sales / Paydowns	(175,676)	(111,018)
Settlements	0	0
Net Realized Gains (Losses)	6,846	(219,407)
Net Unrealized Gains (Losses)	368,179	355,085
Change in Other Comprehensive Income	0	0
Balance, End of Period	2,172,290	1,559,559
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date	370,136	127,082
Credit
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	3,290,361	5,012,355
Transfers Out Due to Deconsolidation of Funds	(41,422)	(2,354,181)
Transfers In	0	47,536
Transfers Out	(16,671)	(7,482)
Asset Purchases / Debt Issuances	2,545,756	1,589,920
Sales / Paydowns	(1,224,468)	(973,370)
Settlements	134,561	128,299
Net Realized Gains (Losses)	(97,409)	(9,786)
Net Unrealized Gains (Losses)	518,049	(138,496)
Change in Other Comprehensive Income	30,180	(4,434)
Balance, End of Period	5,138,937	3,290,361
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date	424,099	(138,335)
Investments of Consolidated CFEs
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	5,406,220	0
Transfers Out Due to Deconsolidation of Funds	0	0
Transfers In	0	4,343,829
Transfers Out	0	0
Asset Purchases / Debt Issuances	0	1,026,801
Sales / Paydowns	(45,562)	(32,286)
Settlements	0	0
Net Realized Gains (Losses)	0	0
Net Unrealized Gains (Losses)	(7,568)	67,876
Change in Other Comprehensive Income	0	0
Balance, End of Period	5,353,090	5,406,220
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date	(7,568)	67,876
Real Assets
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	1,807,128	4,048,281
Transfers Out Due to Deconsolidation of Funds	45,639	(2,628,999)
Transfers In	0	0
Transfers Out	0	0
Asset Purchases / Debt Issuances	744,273	535,210
Sales / Paydowns	(528,617)	(387,593)
Settlements	0	0
Net Realized Gains (Losses)	(18,722)	87,512
Net Unrealized Gains (Losses)	201,566	152,717
Change in Other Comprehensive Income	0	0
Balance, End of Period	2,251,267	1,807,128
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date	147,940	180,543
Equity Method
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	570,522	891,606
Transfers Out Due to Deconsolidation of Funds	0	0
Transfers In	0	0
Transfers Out	0	(311,270)
Asset Purchases / Debt Issuances	728,338	101,524
Sales / Paydowns	(291,326)	(78,088)
Settlements	0	0
Net Realized Gains (Losses)	21,865	3,830
Net Unrealized Gains (Losses)	47,310	(37,080)
Change in Other Comprehensive Income	0	0
Balance, End of Period	1,076,709	570,522
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date	61,855	(31,130)
Other
Fair value, assets measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	1,767,573	2,581,188
Transfers Out Due to Deconsolidation of Funds	0	(984,813)
Transfers In	3,511	180,508
Transfers Out	(1,496)	0
Asset Purchases / Debt Issuances	327,144	364,180
Sales / Paydowns	(262,953)	(162,989)
Settlements	0	0
Net Realized Gains (Losses)	(40,098)	(16,456)
Net Unrealized Gains (Losses)	(33,670)	(194,045)
Change in Other Comprehensive Income	0	0
Balance, End of Period	1,760,011	1,767,573
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date	$ (22,904)	$ (217,771)

FAIR VALUE MEASUREMENTS - Cha63

FAIR VALUE MEASUREMENTS - Changes in Level III Debt Obligations (Details) - Level III - Debt Obligations of Consolidated CFEs - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Fair value, liabilities measured on recurring basis, level 3 fair-value category reconciliation
Balance, Beg. of Period	$ 5,294,741	$ 0
Transfers Out Due to Deconsolidation of Funds	0	0
Transfers In	0	4,272,081
Transfers Out	0	0
Asset Purchases / Debt Issuances	0	990,450
Sales	0	0
Settlements	(45,562)	(32,286)
Net Realized Gains (Losses)	0	0
Net Unrealized Gains (Losses)	(10,943)	64,496
Change in Other Comprehensive Income	0	0
Balance, End of Period	5,238,236	5,294,741
Changes in Net Unrealized Gains (Losses) Included in Net Gains (Losses) from Investment Activities related to Level III Assets and Liabilities still held as of the Reporting Date	$ (10,943)	$ 64,496

FAIR VALUE MEASUREMENTS - Trans

FAIR VALUE MEASUREMENTS - Transfers Between Fair Value Levels (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Assets, transfers from Level I to Level II	$ 53,416	$ 73,600
Assets, transfers from Level II to Level I	33,634	0
Assets, transfers from Level II to Level III	3,511	4,571,873
Assets, transfers from Level III to Level II	16,671	318,752
Assets, transfers from Level III to Level I	16,028	104,000
Liabilities, transfers from Level II to Level III	$ 0	$ 4,272,081

FAIR VALUE MEASUREMENTS - Valua

FAIR VALUE MEASUREMENTS - Valuation Methodologies and Significant Unobservable Inputs (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)$ / barrel	Dec. 31, 2016USD ($)
Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	$ 33,123,529	$ 27,410,231
Investments, fair value disclosure	$ 32,941,871	27,088,011
Minimum
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount	5.00%
Private Equity | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	$ 3,301,261	2,915,667
Credit | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	7,621,320	4,847,936
Investments of Consolidated CFEs | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	15,573,203	13,950,897
Real Assets | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	2,302,061	1,807,128
Other | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	2,759,287	2,774,965
Equity Method | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	1,384,739	791,418
Level III | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	17,804,253	14,401,363
Investments, fair value disclosure	17,752,304	14,401,363
Level III | Private Equity
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	2,172,290
Level III | Private Equity | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	2,172,290	1,559,559
Level III | Private Equity | Private Equity
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	576,410
Level III | Private Equity | Growth Equity
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	1,595,880
Level III | Credit
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	5,138,937
Level III | Credit | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	5,138,937	3,290,361
Level III | Investments of Consolidated CFEs
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	5,353,090
Level III | Investments of Consolidated CFEs | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	5,353,090	5,406,220
Level III | Investments of Consolidated CFEs | Debt Obligations of Consolidated CFEs
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	5,238,236
Level III | Real Assets
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	2,251,267
Level III | Real Assets | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	2,251,267	1,807,128
Level III | Real Assets | Energy
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	1,152,627
Level III | Real Assets | Real Estate
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	887,403
Level III | Real Assets | Infrastructure
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	211,200
Level III | Other
Level III investments and other financial instruments by valuation methodologies
Assets, fair value	1,760,011
Level III | Other | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	1,760,011	1,767,573
Level III | Equity Method | Fair value measured on recurring basis
Level III investments and other financial instruments by valuation methodologies
Investments, fair value disclosure	$ 1,076,709	$ 570,522
Level III | Inputs to market comparables, discounted cash flow and transaction price | Private Equity | Minimum | Private Equity
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount	5.00%
Weight Ascribed to Market Comparables	0.00%
Weight Ascribed to Discounted Cash Flow	50.00%
Level III | Inputs to market comparables, discounted cash flow and transaction price | Private Equity | Minimum | Growth Equity
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount	10.00%
Weight Ascribed to Market Comparables	0.00%
Weight Ascribed to Discounted Cash Flow	0.00%
Weight Ascribed to Milestones	0.00%
Level III | Inputs to market comparables, discounted cash flow and transaction price | Private Equity | Maximum | Private Equity
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount	15.00%
Weight Ascribed to Market Comparables	50.00%
Weight Ascribed to Discounted Cash Flow	100.00%
Level III | Inputs to market comparables, discounted cash flow and transaction price | Private Equity | Maximum | Growth Equity
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount	15.00%
Weight Ascribed to Market Comparables	100.00%
Weight Ascribed to Discounted Cash Flow	75.00%
Weight Ascribed to Milestones	100.00%
Level III | Inputs to market comparables, discounted cash flow and transaction price | Private Equity | Weighted Average | Private Equity
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount	9.60%
Weight Ascribed to Market Comparables	48.40%
Weight Ascribed to Discounted Cash Flow	51.60%
Level III | Inputs to market comparables, discounted cash flow and transaction price | Private Equity | Weighted Average | Growth Equity
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount	13.30%
Weight Ascribed to Market Comparables	24.50%
Weight Ascribed to Discounted Cash Flow	9.00%
Weight Ascribed to Milestones	66.50%
Level III | Inputs to market comparables, discounted cash flow and transaction price | Other | Minimum
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount	5.00%
Weight Ascribed to Market Comparables	0.00%
Weight Ascribed to Discounted Cash Flow	0.00%
Weight Ascribed to Transaction Price	0.00%
Level III | Inputs to market comparables, discounted cash flow and transaction price | Other | Maximum
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount	15.00%
Weight Ascribed to Market Comparables	100.00%
Weight Ascribed to Discounted Cash Flow	100.00%
Weight Ascribed to Transaction Price	100.00%
Level III | Inputs to market comparables, discounted cash flow and transaction price | Other | Weighted Average
Level III investments and other financial instruments by valuation methodologies
Illiquidity Discount	10.60%
Weight Ascribed to Market Comparables	22.80%
Weight Ascribed to Discounted Cash Flow	45.30%
Weight Ascribed to Transaction Price	31.90%
Level III | Market comparables | Private Equity | Minimum | Private Equity
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	7.4
Enterprise Value/Forward EBITDA Multiple	5.7
Level III | Market comparables | Private Equity | Maximum | Private Equity
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	26.2
Enterprise Value/Forward EBITDA Multiple	19
Level III | Market comparables | Private Equity | Weighted Average | Private Equity
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	14.4
Enterprise Value/Forward EBITDA Multiple	12.4
Level III | Market comparables | Other | Minimum
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	0.1
Enterprise Value/Forward EBITDA Multiple	4
Level III | Market comparables | Other | Maximum
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	15.1
Enterprise Value/Forward EBITDA Multiple	13.5
Level III | Market comparables | Other | Weighted Average
Level III investments and other financial instruments by valuation methodologies
Enterprise Value/LTM EBITDA Multiple	10.9
Enterprise Value/Forward EBITDA Multiple	9.1
Level III | Discounted cash flow | Private Equity | Minimum | Private Equity
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital	7.70%
Enterprise Value/LTM EBITDA Exit Multiple	4.8
Level III | Discounted cash flow | Private Equity | Maximum | Private Equity
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital	14.60%
Enterprise Value/LTM EBITDA Exit Multiple	15.1
Level III | Discounted cash flow | Private Equity | Weighted Average | Private Equity
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital	10.10%
Enterprise Value/LTM EBITDA Exit Multiple	10.5
Level III | Discounted cash flow | Investments of Consolidated CFEs | Minimum | Debt Obligations of Consolidated CFEs
Level III investments and other financial instruments by valuation methodologies
Yield	2.20%
Level III | Discounted cash flow | Investments of Consolidated CFEs | Maximum | Debt Obligations of Consolidated CFEs
Level III investments and other financial instruments by valuation methodologies
Yield	29.30%
Level III | Discounted cash flow | Investments of Consolidated CFEs | Weighted Average | Debt Obligations of Consolidated CFEs
Level III investments and other financial instruments by valuation methodologies
Yield	5.60%
Level III | Discounted cash flow | Real Assets | Energy
Level III investments and other financial instruments by valuation methodologies
Revenue ratio of liquids (percent)	85.00%
Revenue ratio of natural gas (percent)	15.00%
Level III | Discounted cash flow | Real Assets | Minimum | Energy
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital	9.40%
Average Price Per Barrel of Oil Equivalents (usd per barrel of oil equivalent) | $ / barrel	26.50
Level III | Discounted cash flow | Real Assets | Minimum | Real Estate
Level III investments and other financial instruments by valuation methodologies
Unlevered Discount Rate	4.50%
Level III | Discounted cash flow | Real Assets | Maximum | Energy
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital	17.50%
Average Price Per Barrel of Oil Equivalents (usd per barrel of oil equivalent) | $ / barrel	42.05
Level III | Discounted cash flow | Real Assets | Maximum | Real Estate
Level III investments and other financial instruments by valuation methodologies
Unlevered Discount Rate	20.00%
Level III | Discounted cash flow | Real Assets | Weighted Average | Energy
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital	10.40%
Average Price Per Barrel of Oil Equivalents (usd per barrel of oil equivalent) | $ / barrel	40.34
Level III | Discounted cash flow | Real Assets | Weighted Average | Real Estate
Level III investments and other financial instruments by valuation methodologies
Unlevered Discount Rate	9.00%
Level III | Discounted cash flow | Real Assets | Weighted Average | Infrastructure
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital	7.60%
Enterprise Value/LTM EBITDA Exit Multiple	12
Level III | Discounted cash flow | Other | Minimum
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital	8.50%
Enterprise Value/LTM EBITDA Exit Multiple	2
Level III | Discounted cash flow | Other | Maximum
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital	21.20%
Enterprise Value/LTM EBITDA Exit Multiple	11.3
Level III | Discounted cash flow | Other | Weighted Average
Level III investments and other financial instruments by valuation methodologies
Weighted Average Cost of Capital	11.80%
Enterprise Value/LTM EBITDA Exit Multiple	6.7
Level III | Scenario Weighting | Private Equity | Minimum | Growth Equity
Level III investments and other financial instruments by valuation methodologies
Base	30.00%
Downside	5.00%
Upside	10.00%
Level III | Scenario Weighting | Private Equity | Maximum | Growth Equity
Level III investments and other financial instruments by valuation methodologies
Base	80.00%
Downside	40.00%
Upside	45.00%
Level III | Scenario Weighting | Private Equity | Weighted Average | Growth Equity
Level III investments and other financial instruments by valuation methodologies
Base	51.90%
Downside	21.40%
Upside	26.70%
Level III | Yield Analysis | Credit | Minimum
Level III investments and other financial instruments by valuation methodologies
Yield	3.20%
Net Leverage	0.5
EBITDA Multiple	0.1
Level III | Yield Analysis | Credit | Maximum
Level III investments and other financial instruments by valuation methodologies
Yield	36.60%
Net Leverage	27.5
EBITDA Multiple	22.4
Level III | Yield Analysis | Credit | Weighted Average
Level III investments and other financial instruments by valuation methodologies
Yield	10.30%
Net Leverage	4.7
EBITDA Multiple	11.8
Level III | Inputs to 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	0.00%
Weight Ascribed to Direct Income Capitalization	0.00%
Level III | Inputs to 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	100.00%
Weight Ascribed to Direct Income Capitalization	100.00%
Level III | Inputs to direct income capitalization and discounted cash flow | Real Assets | Weighted Average | Real Estate
Level III investments and other financial instruments by valuation methodologies
Weight Ascribed to Discounted Cash Flow	62.80%
Weight Ascribed to Direct Income Capitalization	37.20%
Level III | Direct income capitalization | Real Assets | Minimum | Real Estate
Level III investments and other financial instruments by valuation methodologies
Current Capitalization Rate	1.90%
Level III | Direct income capitalization | Real Assets | Maximum | Real Estate
Level III investments and other financial instruments by valuation methodologies
Current Capitalization Rate	8.70%
Level III | Direct income capitalization | Real Assets | Weighted Average | Real Estate
Level III investments and other financial instruments by valuation methodologies
Current Capitalization Rate	5.80%

FAIR VALUE OPTION - Financial I

FAIR VALUE OPTION - Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	$ 22,032,021	$ 16,719,280
Liabilities	15,586,216	13,858,288
Private Equity
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	3,744	96,721
Credit
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	4,381,519	1,392,525
Investments of Consolidated CFEs
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	15,573,203	13,950,897
Real Assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	343,820	247,376
Equity Method
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	1,384,739	791,418
Other
Fair Value, Option, Quantitative Disclosures [Line Items]
Assets	344,996	240,343
Debt Obligations of Consolidated CFEs
Fair Value, Option, Quantitative Disclosures [Line Items]
Liabilities	$ 15,586,216	$ 13,858,288

FAIR VALUE OPTION - Change in F

FAIR VALUE OPTION - Change in Fair Value (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value, option, assets, net realized gains (losses)	$ (563,249)	$ (645,994)	$ (147,959)
Fair value, option, liabilities, net realized gains (losses)	83,146	325,548	0
Fair value, option, assets, net unrealized gains (losses)	183,849	588,696	(90,318)
Fair value, option, liabilities, net unrealized gains (losses)	11,768	(357,321)	(11,257)
Private Equity
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value, option, assets, net realized gains (losses)	(1,386)	(245,014)	111,962
Fair value, option, assets, net unrealized gains (losses)	38,791	238,600	86,419
Credit
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value, option, assets, net realized gains (losses)	(464,512)	(144,854)	(22,847)
Fair value, option, assets, net unrealized gains (losses)	78,282	48,922	(68,053)
Investments of Consolidated CFEs
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value, option, assets, net realized gains (losses)	(97,129)	(258,430)	(54,367)
Fair value, option, assets, net unrealized gains (losses)	352	444,142	(220,577)
Real Assets
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value, option, assets, net realized gains (losses)	13,112	8,835	(200,394)
Fair value, option, assets, net unrealized gains (losses)	44,136	4,159	213,171
Equity Method
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value, option, assets, net realized gains (losses)	18,883	3,830	7,703
Fair value, option, assets, net unrealized gains (losses)	(2,635)	(127,741)	(80,587)
Other
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value, option, assets, net realized gains (losses)	(32,217)	(10,361)	9,984
Fair value, option, assets, net unrealized gains (losses)	24,923	(19,386)	(20,691)
Debt Obligations of Consolidated CFEs
Fair Value, Option, Quantitative Disclosures [Line Items]
Fair value, option, liabilities, net realized gains (losses)	83,146	325,548	0
Fair value, option, liabilities, net unrealized gains (losses)	$ 11,768	$ (357,321)	$ (11,257)

NET INCOME (LOSS) ATTRIBUTABL68

NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. L.P. PER COMMON UNIT (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
NET INCOME (LOSS) ATTRIBUTABLE TO KKR & CO. L.P. PER COMMON UNIT
Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders	$ 166,389	$ 153,563	$ 405,646	$ 259,343	$ 170,969	$ 352,152	$ 93,890	$ (329,939)	$ 984,941	$ 287,072	$ 488,482
Basic Net Income (Loss) Per Common Unit
Weighted Average Common Units Outstanding - Basic (in units)	481,165,742	471,758,886	466,170,025	453,695,846	451,154,845	445,989,300	448,221,538	450,262,143	468,282,642	448,905,126	448,884,185
Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Basic (in dollars per unit)	$ 0.35	$ 0.33	$ 0.87	$ 0.57	$ 0.38	$ 0.79	$ 0.21	$ (0.73)	$ 2.10	$ 0.64	$ 1.09
Diluted Net Income (Loss) Per Common Unit
Weighted Average Common Units Outstanding - Basic (in units)	481,165,742	471,758,886	466,170,025	453,695,846	451,154,845	445,989,300	448,221,538	450,262,143	468,282,642	448,905,126	448,884,185
Weighted Average Unvested Common Units and Other Exchangeable Securities (in units)									38,006,329	34,525,922	33,815,009
Weighted Average Common Units Outstanding - Diluted (in units)	520,156,583	506,873,177	501,177,423	496,684,340	484,312,804	479,975,675	481,809,612	450,262,143	506,288,971	483,431,048	482,699,194
Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit - Diluted (in dollars per unit)	$ 0.32	$ 0.30	$ 0.81	$ 0.52	$ 0.35	$ 0.73	$ 0.19	$ (0.73)	$ 1.95	$ 0.59	$ 1.01
Weighted Average KKR Holdings Units Outstanding (in units)									344,422,095	357,873,788	368,399,872
Market Condition Awards
Diluted Net Income (Loss) Per Common Unit
Weighted Average KKR Holdings Units Outstanding (in units)									5,000,000

OTHER ASSETS AND ACCOUNTS PAY69

OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES - Other Assets (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
Unsettled Investment Sales	$ 134,781,000	$ 144,600,000
Receivables	138,109,000	49,279,000
Due from Broker	682,403,000	1,084,602,000
Oil & Gas Assets, net	252,371,000	276,694,000
Deferred Tax Assets, net	131,944,000	286,948,000
Interest Receivable	189,785,000	158,511,000
Fixed Assets, net	364,203,000	283,262,000
Foreign Exchange Contracts and Options	96,584,000	240,627,000
Intangible Assets, net	129,178,000	135,024,000
Goodwill	83,500,000	89,000,000
Derivative Assets	85,074,000	81,593,000
Deferred Transaction Related Expenses	54,328,000	17,688,000
Prepaid Taxes	83,371,000	46,996,000
Prepaid Expenses	25,677,000	17,761,000
Deferred Financing Costs	7,534,000	10,507,000
Other	72,233,000	73,773,000
Total	2,531,075,000	2,996,865,000
Depreciation, depletion, and amortization of oil and natural gas properties	24,700,000	38,900,000
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Impairments of Oil and Natural Gas Properties	0	6,191,000	$ 53,926,000
Accumulated depreciation and amortization	156,859,000	141,911,000
Depreciation and amortization expense	15,329,000	16,045,000	15,418,000
General Administrative and Other Expense [Member]
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Impairments of Oil and Natural Gas Properties	$ 0	$ 6,200,000	$ 54,000,000

OTHER ASSETS AND ACCOUNTS PAY70

OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES - Accounts Payable, Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
OTHER ASSETS AND ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
Amounts Payable to Carry Pool	$ 1,220,559	$ 987,994
Unsettled Investment Purchases	885,945	722,076
Securities Sold Short	692,007	647,234
Derivative Liabilities	69,381	100,015
Accrued Compensation and Benefits	35,953	20,764
Interest Payable	168,673	114,894
Foreign Exchange Contracts and Options	260,948	75,218
Accounts Payable and Accrued Expenses	152,916	114,854
Deferred Rent	17,441	17,503
Taxes Payable	35,933	12,514
Uncertain Tax Positions Reserve	58,369	51,964
Redemptions Payable	0	4,021
Due to Broker	0	83,206
Other Liabilities	56,125	29,003
Total	$ 3,654,250	$ 2,981,260

VARIABLE INTEREST ENTITIES - Na

VARIABLE INTEREST ENTITIES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Investments in Unconsolidated Investment Funds
Variable Interest Entity [Line Items]
Investments	$ 4,400,000
Commitment to unconsolidated investment funds	1,900,000
Investments in Unconsolidated CLO Vehicles
Variable Interest Entity [Line Items]
Investments	4,417,003	$ 3,632,162
Combined assets under management	700,000
Maximum exposure to loss as a result of investments in the residual interests	$ 27,500

VARIABLE INTEREST ENTITIES - Ma

VARIABLE INTEREST ENTITIES - Maximum Exposure to Loss (Details) - Investments in Unconsolidated CLO Vehicles - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Investments	$ 4,417,003	$ 3,632,162
Due from (to) Affiliates, net	176,131	(60,604)
Maximum Exposure to Loss	$ 4,593,134	$ 3,571,558

DEBT OBLIGATIONS - KKR's Borrow

DEBT OBLIGATIONS - KKR's Borrowings (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Nov. 17, 2017	Apr. 24, 2017	Mar. 30, 2017	Mar. 18, 2015	May 29, 2014	Feb. 01, 2013	Sep. 29, 2010
Debt Instrument [Line Items]
Financing Available	$ 4,293,752,000	$ 3,539,532,000
Borrowing Outstanding	21,193,859,000	18,544,075,000
Fair Value	21,427,594,000	18,539,725,000
Fund Financing Facilities and Other
Debt Instrument [Line Items]
Financing Available	2,056,096,000	2,039,532,000
Borrowing Outstanding	2,898,215,000	2,333,654,000
Fair Value	$ 2,898,215,000	$ 2,333,654,000
Weighted average interest rate (percentage)	4.20%	2.40%
Weighted average remaining maturity (in years)	3 years 7 months 6 days	2 years 4 months 24 days
Debt Obligations of Consolidated CFEs
Debt Instrument [Line Items]
Borrowing Outstanding	$ 15,586,216,000
Senior Notes | KKR Issued 6.375% Notes Due 2020
Debt Instrument [Line Items]
Borrowing Outstanding	498,390,000	$ 497,804,000
Fair Value	549,000,000	562,960,000
Aggregate principal amount	$ 500,000,000								$ 500,000,000
Interest rate, stated percentage	6.375%								6.375%
Unamortized debt issuance costs	$ 1,000,000	1,400,000
Senior Notes | KKR Issued 5.500% Notes Due 2043
Debt Instrument [Line Items]
Borrowing Outstanding	491,496,000	491,158,000
Fair Value	580,000,000	502,800,000
Aggregate principal amount	$ 500,000,000							$ 500,000,000
Interest rate, stated percentage	5.50%							5.50%
Unamortized debt issuance costs	$ 3,700,000	3,900,000
Senior Notes | KKR Issued 5.125% Notes Due 2044
Debt Instrument [Line Items]
Borrowing Outstanding	990,375,000	990,009,000
Fair Value	1,107,100,000	955,240,000
Aggregate principal amount	$ 1,000,000,000					$ 500,000,000	$ 500,000,000
Interest rate, stated percentage	5.125%						5.125%
Unamortized debt issuance costs	$ 8,300,000	8,600,000
Senior Notes | KFN Issued 5.500% Notes Due 2032 | KFN
Debt Instrument [Line Items]
Borrowing Outstanding	493,129,000	0
Fair Value	505,235,000	0
Aggregate principal amount	$ 500,000,000		$ 125,000,000		$ 375,000,000
Interest rate, stated percentage	5.50%				5.50%
Unamortized debt issuance costs	$ 4,700,000
Senior Notes | KFN Issued 7.500% Notes Due 2042 | KFN
Debt Instrument [Line Items]
Borrowing Outstanding	0	123,008,000
Fair Value	0	116,699,000
Aggregate principal amount	$ 115,000,000			$ 115,000,000
Interest rate, stated percentage	7.50%			7.50%
Senior Notes | KFN Issued Junior Subordinated Notes | KFN
Debt Instrument [Line Items]
Borrowing Outstanding	$ 236,038,000	250,154,000
Fair Value	201,828,000	210,084,000
Aggregate principal amount	$ 264,800,000
Weighted average interest rate (percentage)	3.80%
Weighted average remaining maturity (in years)	19 years 11 days
Senior Secured Notes | Debt Obligations of Consolidated CFEs
Debt Instrument [Line Items]
Borrowing Outstanding	$ 10,055,686,000	8,279,812,000
Fair Value	$ 10,055,686,000	8,279,812,000
Weighted average interest rate (percentage)	2.70%
Weighted average remaining maturity (in years)	11 years 9 months 18 days
Subordinated Notes | Debt Obligations of Consolidated CFEs
Debt Instrument [Line Items]
Borrowing Outstanding	$ 292,294,000	283,735,000
Fair Value	$ 292,294,000	283,735,000
Weighted average remaining maturity (in years)	12 years 2 months 12 days
Collateralized Mortgage Backed Securities
Debt Instrument [Line Items]
Borrowing Outstanding	$ 5,238,236,000	5,294,741,000
Fair Value	5,238,236,000	5,294,741,000
Collateralized Mortgage Backed Securities | Debt Obligations of Consolidated CFEs
Debt Instrument [Line Items]
Borrowing Outstanding	$ 5,238,236,000
Weighted average interest rate (percentage)	4.30%
Weighted average remaining maturity (in years)	26 years 8 months 12 days
Revolving Credit Facility | Corporate Credit Agreement
Debt Instrument [Line Items]
Financing Available	$ 1,000,000,000	1,000,000,000
Borrowing Outstanding	0	0
Fair Value	0	0
Revolving Credit Facility | KCM Credit Agreement
Debt Instrument [Line Items]
Financing Available	487,656,000	500,000,000
Borrowing Outstanding	0	0
Fair Value	0	0
Revolving Credit Facility | KCM Short-Term Credit Agreement
Debt Instrument [Line Items]
Financing Available	750,000,000	0
Borrowing Outstanding	0	0
Fair Value	$ 0	$ 0

DEBT OBLIGATIONS - Narrative (D

DEBT OBLIGATIONS - Narrative (Details)	Jun. 29, 2017USD ($)	Apr. 24, 2017USD ($)	Mar. 30, 2017USD ($)	Mar. 30, 2016	Oct. 22, 2014USD ($)	Dec. 31, 2017USD ($)trust	Dec. 31, 2016USD ($)	Nov. 17, 2017USD ($)	Mar. 18, 2015USD ($)	May 29, 2014USD ($)	Feb. 01, 2013USD ($)	Sep. 29, 2010USD ($)
Debt Instrument [Line Items]
Borrowing Outstanding						$ 21,193,859,000	$ 18,544,075,000
Corporate Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 1,000,000,000
Line of credit addition to maximum borrowing capacity					250,000,000
Line of credit facility, optional expansion, maximum borrowing capacity					$ 1,250,000,000
Debt instrument term					5 years
Borrowings outstanding						0	0
KCM Credit Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						500,000,000
Borrowings outstanding						847,000,000	848,000,000
Repayments of lines of credit						847,000,000	848,000,000
Letters of Credit Outstanding, Amount						12,300,000
KCM Credit Agreement | Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity						500,000,000
KKR Issued 6.375% Notes Due 2020 | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 500,000,000						$ 500,000,000
Interest rate, stated percentage						6.375%						6.375%
Debt Instrument Issuance as Percentage of Par Value												99.584%
Debt Instrument Event of Default Minimum Percentage of Aggregate Principal Amount Held to Declare Notes, Due and Payable						25.00%
Redemption price (as a percent of principal)						101.00%
Borrowing Outstanding						$ 498,390,000	497,804,000
KKR Issued 5.500% Notes Due 2043 | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 500,000,000					$ 500,000,000
Interest rate, stated percentage						5.50%					5.50%
Debt Instrument Issuance as Percentage of Par Value											98.856%
Debt Instrument Event of Default Minimum Percentage of Aggregate Principal Amount Held to Declare Notes, Due and Payable						25.00%
Redemption price (as a percent of principal)						101.00%
Borrowing Outstanding						$ 491,496,000	491,158,000
KKR Issued 5.125% Notes Due 2044 | Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 1,000,000,000			$ 500,000,000	$ 500,000,000
Interest rate, stated percentage						5.125%				5.125%
Debt Instrument Issuance as Percentage of Par Value									101.062%	98.612%
Debt Instrument Event of Default Minimum Percentage of Aggregate Principal Amount Held to Declare Notes, Due and Payable						25.00%
Redemption price (as a percent of principal)						101.00%
Borrowing Outstanding						$ 990,375,000	990,009,000
KFN Issued 5.500% Notes Due 2032 | Senior Notes | KFN
Debt Instrument [Line Items]
Aggregate principal amount			$ 375,000,000			$ 500,000,000		$ 125,000,000
Interest rate, stated percentage			5.50%			5.50%
Debt Instrument Event of Default Minimum Percentage of Aggregate Principal Amount Held to Declare Notes, Due and Payable						25.00%
Proceeds from issuance of debt			$ 368,600,000
Borrowing Outstanding						$ 493,129,000	0
KFN Issued 5.500% Notes Due 2032 | Senior Notes | KFN | On or After March 30, 2022
Debt Instrument [Line Items]
Redemption price (as a percent of principal)			100.00%			101.00%
KFN Issued 7.500% Notes Due 2042 | Senior Notes | KFN
Debt Instrument [Line Items]
Aggregate principal amount		$ 115,000,000				$ 115,000,000
Interest rate, stated percentage		7.50%				7.50%
Redemption price (as a percent of principal)		100.00%
Borrowing Outstanding						$ 0	123,008,000
KFN Junior Subordinated Notes | KFN Issued Junior Subordinated Notes | KFN
Debt Instrument [Line Items]
Redemption price (as a percent of principal)						100.00%
Number of trusts | trust						6
Term of trusts						30 years
Borrowing Outstanding						$ 264,800,000
Fund Financing Facilities and Other
Debt Instrument [Line Items]
Borrowings outstanding						6,900,000,000	3,400,000,000
Repayments of lines of credit						4,600,000,000	3,400,000,000
Borrowing Outstanding						2,898,215,000	2,333,654,000
Revolving Credit Facility | Corporate Credit Agreement
Debt Instrument [Line Items]
Borrowing Outstanding						0	0
Revolving Credit Facility | KCM Credit Agreement
Debt Instrument [Line Items]
Borrowing Outstanding						0	0
Revolving Credit Facility | KCM Short-Term Credit Agreement
Debt Instrument [Line Items]
Borrowing Outstanding						0	$ 0
Revolving Credit Facility | KCM Short-Term Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 750,000,000
Debt instrument term	364 days
Borrowings outstanding						635,000,000
Repayments of lines of credit						$ 635,000,000
Minimum | Corporate Credit Agreement | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					0.69%
Minimum | KCM Credit Agreement | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				1.25%
Minimum | KCM Credit Agreement | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				0.25%
Minimum | KFN Junior Subordinated Notes | KFN Issued Junior Subordinated Notes | LIBOR | KFN
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)						2.25%
Minimum | Revolving Credit Facility | KCM Short-Term Credit Agreement | Line of Credit | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)						1.25%
Minimum | Revolving Credit Facility | KCM Short-Term Credit Agreement | Line of Credit | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)						0.25%
Maximum | Corporate Credit Agreement | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)					1.20%
Maximum | KCM Credit Agreement | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				2.50%
Maximum | KCM Credit Agreement | Prime Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)				1.50%
Maximum | KFN Junior Subordinated Notes | KFN Issued Junior Subordinated Notes | LIBOR | KFN
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)						2.65%
Maximum | Revolving Credit Facility | KCM Short-Term Credit Agreement | Line of Credit | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)						2.50%
Maximum | Revolving Credit Facility | KCM Short-Term Credit Agreement | Line of Credit | Base Rate
Debt Instrument [Line Items]
Basis spread on variable rate (as a percent)						1.50%

DEBT OBLIGATIONS - Obligations

DEBT OBLIGATIONS - Obligations of Consolidated CLOs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Borrowing Outstanding	$ 21,193,859	$ 18,544,075
Total Assets	45,834,719	39,002,897
Consolidated VIEs
Debt Instrument [Line Items]
Borrowing Outstanding	16,356,566	15,471,087
Total Assets	27,070,814	25,326,042
Consolidated VIEs | Consolidated CFEs
Debt Instrument [Line Items]
Borrowing Outstanding	15,586,216	13,858,288
Total Assets	17,217,604	15,349,598
Debt Obligations of Consolidated CFEs
Debt Instrument [Line Items]
Borrowing Outstanding	15,586,216
Senior Secured Notes | Debt Obligations of Consolidated CFEs
Debt Instrument [Line Items]
Borrowing Outstanding	$ 10,055,686	8,279,812
Weighted Average Interest Rate	2.70%
Weighted Average Remaining Maturity in Years	11 years 9 months 18 days
Subordinated Notes | Debt Obligations of Consolidated CFEs
Debt Instrument [Line Items]
Borrowing Outstanding	$ 292,294	283,735
Weighted Average Remaining Maturity in Years	12 years 2 months 12 days
Collateralized Mortgage Backed Securities
Debt Instrument [Line Items]
Borrowing Outstanding	$ 5,238,236	$ 5,294,741
Collateralized Mortgage Backed Securities | Debt Obligations of Consolidated CFEs
Debt Instrument [Line Items]
Borrowing Outstanding	$ 5,238,236
Weighted Average Interest Rate	4.30%
Weighted Average Remaining Maturity in Years	26 years 8 months 12 days

DEBT OBLIGATIONS - Principal Pa

DEBT OBLIGATIONS - Principal Payments (Details) $ in Thousands	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
2,018	$ 962,910
2019 - 2020	2,674,242
2021 - 2022	476,262
2023 and thereafter	17,321,268
Long-term Debt	21,434,682
Revolving Credit Facilities
Debt Instrument [Line Items]
2,018	0
2019 - 2020	0
2021 - 2022	0
2023 and thereafter	0
Long-term Debt	0
Notes Issued
Debt Instrument [Line Items]
2,018	0
2019 - 2020	500,000
2021 - 2022	0
2023 and thereafter	2,264,800
Long-term Debt	2,764,800
Other Consolidated Debt Obligations
Debt Instrument [Line Items]
2,018	962,910
2019 - 2020	2,174,242
2021 - 2022	476,262
2023 and thereafter	15,056,468
Long-term Debt	$ 18,669,882

INCOME TAXES - Provision (Benef

INCOME TAXES - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Current
Federal Income Tax									$ (34,611)	$ (3,440)	$ 27,978
State and Local Income Tax									5,229	(443)	6,320
Foreign Income Tax									79,371	38,052	42,036
Subtotal									49,989	34,169	76,334
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Federal Income Tax									178,449	(15,032)	(19,133)
State and Local Income Tax									(424)	1,348	8,264
Foreign Income Tax									(3,688)	4,076	1,171
Subtotal									174,337	(9,608)	(9,698)
Total Income Taxes	$ 146,826	$ 18,420	$ 18,538	$ 40,542	$ 5,800	$ 10,826	$ 6,045	$ 1,890	224,326	$ 24,561	$ 66,636
Pre-tax income generated in foreign jurisdictions									$ 171,600

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Operating Loss Carryforwards [Line Items]
Provisional tax expense	$ 97,900	$ 97,900
Provisional amount related to remeasurement of deferred tax assets and liabilities	96,400
One-time transition tax on mandatory deemed repatriation of foreign earnings	3,100
Undistributed earnings of foreign subsidiaries	20,100	20,100
Reversal of deferred tax liability for unremitted foreign earnings	1,600	$ 1,600
Remeasurement of certain deferred tax assets and liabilities net of reversal	1,500
Effective income tax rate		8.06%	2.52%	1.25%
Increase in effective income tax rate		5.54%
Impact of 2017 Tax Act on effective income tax rate		3.52%	0.00%	0.00%
Impact of increase in fee revenue on effective income tax rate		4.04%
Foreign tax credit carryforward	15,028	$ 15,028	$ 15,028
Valuation allowance	11,872	11,872	9,768
Significant change to tax positions within 12 months	0	0
Unrecognized tax benefits, penalties accrued		100	600
Unrecognized tax benefits, interest accrued		2,200	1,200
Unrecognized tax benefits, liability for penalties	2,300	2,300	2,300
Unrecognized tax benefits, liability for interest	7,900	7,900	$ 5,700
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	106,800	106,800
State and Local
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward	$ 14,300	$ 14,300

INCOME TAXES - Reconciliation o

INCOME TAXES - Reconciliation of Effective Income Tax Rate to the U.S. Federal Statutory Tax Rate (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Statutory U.S. Federal Income Tax Rate	35.00%	35.00%	35.00%
Income not attributable to KKR Management Holdings Corp.	(38.64%)	(42.68%)	(36.04%)
Foreign Income Taxes	2.62%	4.32%	0.81%
State and Local Income Taxes	0.05%	0.05%	0.21%
Compensation Charges Borne by KKR Holdings	6.29%	8.20%	1.92%
Change in Valuation Allowance	0.00%	(1.03%)	0.29%
Impact of 2017 Tax Act	3.52%	0.00%	0.00%
Other	(0.78%)	(1.34%)	(0.94%)
Effective Income Tax Rate	8.06%	2.52%	1.25%

INCOME TAXES - Components of De

INCOME TAXES - Components of Deferred Tax Assets or Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Deferred Tax Assets
Fund Management Fees	$ 51,662	$ 51,662	$ 59,963
Equity Based Compensation	19,749	19,749	30,094
KKR Holdings Unit Exchanges	93,229	93,229	156,624
Depreciation and Amortization	13,421	13,421	24,919
Federal Foreign Tax Credit	15,028	15,028	15,028
Interest Limitation Carryforward	0	0	13,494
Net Operating Loss Carryforwards	4,346	4,346	33,867
Other	5,875	5,875	12,599
Total Deferred Tax Assets before Valuation Allowance	203,310	203,310	346,588
Valuation Allowance	(11,872)	(11,872)	(9,768)
Total Deferred Tax Assets	191,438	191,438	336,820
Deferred Tax Liabilities
Investment Basis Differences / Net Unrealized Gains	59,494	59,494	49,872
Total Deferred Tax Liabilities	59,494	59,494	49,872
Total Deferred Taxes, Net	131,944	131,944	$ 286,948
Provisional tax expense	$ 97,900	$ 97,900

INCOME TAXES - Unrecognized Tax

INCOME TAXES - Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized Tax Benefits, beginning of period	$ 43,996	$ 22,792	$ 7,180
Gross increases in tax positions in prior periods	0	0	0
Gross decreases in tax positions in prior periods	0	(1,351)	(116)
Gross increases in tax positions in current period	4,406	22,810	15,959
Lapse of statute of limitations	(232)	(255)	(231)
Unrecognized Tax Benefits, end of period	$ 48,170	$ 43,996	$ 22,792

EQUITY BASED COMPENSATION - Exp

EQUITY BASED COMPENSATION - Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Compensation and Benefits
Expense associated with equity based compensation
Equity based expenses	$ 347,512	$ 243,155	$ 209,323
Compensation and Benefits | KKR Holdings Principal Awards
Expense associated with equity based compensation
Equity based expenses	143,204	44,837	6,726
Compensation and Benefits | Other Exchangeable Securities
Expense associated with equity based compensation
Equity based expenses	0	12,091	16,119
Compensation and Benefits | KKR Holdings Restricted Equity Units
Expense associated with equity based compensation
Equity based expenses	0	0	132
Compensation and Benefits | Equity Incentive Plan Units
Expense associated with equity based compensation
Equity based expenses	204,308	$ 186,227	$ 186,346
Equity method investments | Net Gains (Losses) From Investment Activities
Expense associated with equity based compensation
Equity based expenses	$ 11,214

EQUITY BASED COMPENSATION - Nar

EQUITY BASED COMPENSATION - Narrative (Details)

Nov. 02, 2017$ / sharesshares

Nov. 30, 2016USD ($)

Feb. 29, 2016shares

Dec. 31, 2017USD ($)$ / sharesshares

Sep. 30, 2017$ / shares

Jun. 30, 2017$ / shares

Mar. 31, 2017$ / shares

Dec. 31, 2016$ / sharesshares

Sep. 30, 2016$ / shares

Jun. 30, 2016$ / shares

Mar. 31, 2016$ / shares

Dec. 31, 2017USD ($)$ / sharesshares

Dec. 31, 2016$ / sharesshares

Common Units

Equity Based Payments

Unit distribution announced per quarter (in dollars per unit) | $ / shares

$ 0.17

$ 0.17

$ 0.17

$ 0.17

$ 0.16

$ 0.16

$ 0.16

$ 0.16

Common unit distribution announced, per annum (in dollars per unit) | $ / shares

$ 0.68

$ 0.64

KKR Group Partnerships

Equity Based Payments

Percentage owned by KKR Holdings L.P.

40.90%

43.90%

KKR Holdings Principal Awards

Equity Based Payments

Vesting period (in years)

5 years

Minimum transfer restriction period with respect to one-half awards vested (in years)

1 year

Portion of awards vested having one-year transfer restriction period (as a percent)

50.00%

Minimum transfer restriction period with respect to remaining one-half awards vested (in years)

2 years

Minimum retained ownership required to continuously hold common unit equivalents to as percentage of cumulatively vested interests

25.00%

Portion of awards vested having two-year transfer restriction period (as a percent)

50.00%

Forfeiture rate assumed (as a percent)

7.00%

Estimated unrecognized equity-based payment expense | $

$ 320,900,000

$ 358,400,000

$ 358,400,000

Weighted average remaining vesting period over which unvested units are expected to vest (in years) (less than 1 year for equity bases awards)

2 years 4 months 24 days

Common units conversion basis

1

Number of common units owned in KKR Group Partnership Units (in units) | shares

335,971,334

353,757,398

335,971,334

353,757,398

Number of common units owned in KKR Group Partnership Units, not disclosed (in units) | shares

199,929

199,929

Modified awards granted (in units) | shares

28,900,000

KKR Holdings Principal Awards | Minimum

Equity Based Payments

Vesting period (in years)

3 years

KKR Holdings Principal Awards | Maximum

Equity Based Payments

Vesting period (in years)

5 years

Other Exchangeable Securities

Equity Based Payments

Estimated unrecognized equity-based payment expense | $

$ 0

$ 0

Equity Incentive Plan Units

Equity Based Payments

Total awards issuable as a percentage of diluted common units outstanding

15.00%

Minimum retained ownership required to continuously hold common unit equivalents to as percentage of cumulatively vested interests

15.00%

Forfeiture rate assumed (as a percent)

7.00%

Estimated unrecognized equity-based payment expense | $

538,100,000

$ 538,100,000

Weighted average remaining vesting period over which unvested units are expected to vest (in years) (less than 1 year for equity bases awards)

1 year 7 months 2 days

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%

Equity Incentive Plan Units | Market Condition Awards

Equity Based Payments

Awards granted per individual (in units) | shares

2,500,000

Performance condition, closing market price (in dollars per unit) | $ / shares

$ 40

Required term of performance condition

10 days

Fair value of award at grant date (in dollars per unit) | $ / shares

$ 4.02

Compensation expense recognition period

3 years

Estimated unrecognized equity-based payment expense | $

$ 19,000,000

$ 19,000,000

Equity Incentive Plan Units | KKR Holdings

Equity Based Payments

Minimum transfer restriction period with respect to one-half awards vested (in years)

1 year

Portion of awards vested having one-year transfer restriction period (as a percent)

50.00%

Minimum transfer restriction period with respect to remaining one-half awards vested (in years)

2 years

Portion of awards vested having two-year transfer restriction period (as a percent)

50.00%

EQUITY BASED COMPENSATION - Mar

EQUITY BASED COMPENSATION - Market Condition Awards (Details) - Equity Incentive Plan Units - Market Condition Awards	12 Months Ended
	Dec. 31, 2017$ / shares
Equity Based Payments
Closing KKR unit price as of valuation date (in dollars per unit)	$ 19.90
Risk Free Rate	2.02%
Volatility	25.00%
Dividend Yield	3.42%
Expected Cost of Equity	11.02%

EQUITY BASED COMPENSATION - Est

EQUITY BASED COMPENSATION - Estimated Unrecognized Expense (Details) - USD ($) $ in Millions	Dec. 31, 2017	Nov. 30, 2016
Equity Incentive Plan Units
Equity Based Payments
Estimated unrecognized equity-based payment expense	$ 538.1
Equity Incentive Plan Units | 2018
Equity Based Payments
Estimated unrecognized equity-based payment expense	227.5
Equity Incentive Plan Units | 2019
Equity Based Payments
Estimated unrecognized equity-based payment expense	163.9
Equity Incentive Plan Units | 2020
Equity Based Payments
Estimated unrecognized equity-based payment expense	103
Equity Incentive Plan Units | 2021
Equity Based Payments
Estimated unrecognized equity-based payment expense	33.6
Equity Incentive Plan Units | 2022
Equity Based Payments
Estimated unrecognized equity-based payment expense	9.2
Equity Incentive Plan Units | 2023
Equity Based Payments
Estimated unrecognized equity-based payment expense	0.9
KKR Holdings Principal Awards
Equity Based Payments
Estimated unrecognized equity-based payment expense	358.4	$ 320.9
KKR Holdings Principal Awards | 2018
Equity Based Payments
Estimated unrecognized equity-based payment expense	101.5
KKR Holdings Principal Awards | 2019
Equity Based Payments
Estimated unrecognized equity-based payment expense	96.2
KKR Holdings Principal Awards | 2020
Equity Based Payments
Estimated unrecognized equity-based payment expense	88.1
KKR Holdings Principal Awards | 2021
Equity Based Payments
Estimated unrecognized equity-based payment expense	47.4
KKR Holdings Principal Awards | 2022
Equity Based Payments
Estimated unrecognized equity-based payment expense	$ 25.2

EQUITY BASED COMPENSATION - Awa

EQUITY BASED COMPENSATION - Awards Rollforward (Details)	12 Months Ended
	Dec. 31, 2017$ / sharesshares
KKR Holdings Principal Awards
Units
Balance at the beginning of the period (in units) | shares	28,245,886
Granted (in units) | shares	14,700,000
Vested (in units) | shares	(6,062,425)
Forfeitures and Other (in units) | shares	(6,034,878)
Balance at the end of the period (in units) | shares	30,848,583
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per unit) | $ / shares	$ 12.10
Granted (in dollars per unit) | $ / shares	17.64
Vested (in dollars per unit) | $ / shares	13.87
Forfeitures and Other (in dollars per unit) | $ / shares	11.94
Balance at the end of the period (in dollars per unit) | $ / shares	$ 14.42
Equity Incentive Plan Units
Units
Balance at the beginning of the period (in units) | shares	37,498,333
Granted (in units) | shares	24,209,434
Vested (in units) | shares	(12,077,165)
Forfeitures and Other (in units) | shares	(3,207,869)
Balance at the end of the period (in units) | shares	46,422,733
Weighted Average Grant Date Fair Value
Balance at the beginning of the period (in dollars per unit) | $ / shares	$ 13.85
Granted (in dollars per unit) | $ / shares	16.45
Vested (in dollars per unit) | $ / shares	14.79
Forfeitures and Other (in dollars per unit) | $ / shares	13.52
Balance at the end of the period (in dollars per unit) | $ / shares	$ 14.98

EQUITY BASED COMPENSATION - Rem

EQUITY BASED COMPENSATION - Remaining Vesting Tranches (Details) - shares	Dec. 31, 2017	Dec. 31, 2016
Equity Incentive Plan Units
Equity Based Payments
Principal units (in units)	46,422,733	37,498,333
Equity Incentive Plan Units | April 1, 2018
Equity Based Payments
Principal units (in units)	10,477,750
Equity Incentive Plan Units | October 1, 2018
Equity Based Payments
Principal units (in units)	5,810,795
Equity Incentive Plan Units | April 1, 2019
Equity Based Payments
Principal units (in units)	9,523,248
Equity Incentive Plan Units | October 1, 2019
Equity Based Payments
Principal units (in units)	4,385,817
Equity Incentive Plan Units | April 1, 2020
Equity Based Payments
Principal units (in units)	6,588,617
Equity Incentive Plan Units | October 1, 2020
Equity Based Payments
Principal units (in units)	3,297,528
Equity Incentive Plan Units | April 1, 2021
Equity Based Payments
Principal units (in units)	3,309,863
Equity Incentive Plan Units | October 1, 2021
Equity Based Payments
Principal units (in units)	1,830,239
Equity Incentive Plan Units | April 1, 2022
Equity Based Payments
Principal units (in units)	116,532
Equity Incentive Plan Units | October 1, 2022
Equity Based Payments
Principal units (in units)	991,172
Equity Incentive Plan Units | October 1, 2023
Equity Based Payments
Principal units (in units)	91,172
KKR Holdings Principal Awards
Equity Based Payments
Principal units (in units)	30,848,583	28,245,886
KKR Holdings Principal Awards | April 1, 2018
Equity Based Payments
Principal units (in units)	574,590
KKR Holdings Principal Awards | May 1, 2018
Equity Based Payments
Principal units (in units)	3,805,000
KKR Holdings Principal Awards | October 1, 2018
Equity Based Payments
Principal units (in units)	1,970,000
KKR Holdings Principal Awards | April 1, 2019
Equity Based Payments
Principal units (in units)	229,514
KKR Holdings Principal Awards | May 1, 2019
Equity Based Payments
Principal units (in units)	3,805,000
KKR Holdings Principal Awards | October 1, 2019
Equity Based Payments
Principal units (in units)	2,455,000
KKR Holdings Principal Awards | April 1, 2020
Equity Based Payments
Principal units (in units)	124,479
KKR Holdings Principal Awards | May 1, 2020
Equity Based Payments
Principal units (in units)	3,805,000
KKR Holdings Principal Awards | October 1, 2020
Equity Based Payments
Principal units (in units)	2,940,000
KKR Holdings Principal Awards | October 1, 2022
Equity Based Payments
Principal units (in units)	3,805,000
KKR Holdings Principal Awards | October 1, 2021
Equity Based Payments
Principal units (in units)	3,425,000
KKR Holdings Principal Awards | October 1, 2022
Equity Based Payments
Principal units (in units)	3,910,000

RELATED PARTY TRANSACTIONS - Su

RELATED PARTY TRANSACTIONS - Summary of Due From and Due To Affiliates (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Related Party Transaction [Line Items]
Due from Affiliates	$ 554,349	$ 250,452
Due to Affiliates	323,810	359,479
Portfolio Companies
Related Party Transaction [Line Items]
Due from Affiliates	129,594	66,940
Unconsolidated Investment Funds
Related Party Transaction [Line Items]
Due from Affiliates	415,907	170,219
Due to Affiliates	239,776	231,388
Related Entities
Related Party Transaction [Line Items]
Due from Affiliates	8,848	13,293
Due to KKR Holdings in connection with the tax receivable agreement
Related Party Transaction [Line Items]
Due to Affiliates	$ 84,034	$ 128,091

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Reduction in liability associated with tax receivable agreement	$ 67,221,000	$ 0	$ 0
KKR Holdings
Related Party Transaction [Line Items]
Amount required to be paid to transferees as percentage of cash savings in US federal, state and local income tax	85.00%
Amount required to be paid to transferees as percentage of savings	85.00%
Number of days within which payments required to be made under tax receivable agreement after filing of the tax return	90 days
Cash payments made under tax receivable agreement	$ 0	5,000,000	5,700,000
Expected benefit as percentage of cash savings in income tax	15.00%
Cumulative income tax savings realized	$ 4,200,000
Management
Related Party Transaction [Line Items]
Cash investments	505,100,000	328,300,000	434,900,000
General Partner
Related Party Transaction [Line Items]
Expenses from transactions with related party	3,900,000	5,100,000	4,400,000
Partnership
Related Party Transaction [Line Items]
Payments made to related party	$ 7,600,000	$ 7,400,000	$ 7,300,000

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Details)	12 Months Ended
	Dec. 31, 2017segment
Segment Reporting [Abstract]
Number of reportable segments	4

SEGMENT REPORTING - Financial D

SEGMENT REPORTING - Financial Data for KKR's Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Management, Monitoring and Transaction Fees, Net
Fee Credits									$ (257,401)	$ (128,707)	$ (17,351)
Total Fees and Other	$ 941,648	$ 692,877	$ 931,788	$ 715,952	$ 481,475	$ 687,056	$ 576,757	$ 162,805	3,282,265	1,908,093	1,043,768
Performance Income (Loss)
Realized Carried Interest									4,601	8,709	16,415
Investment Income (Loss)
Total Investment Income (Loss)	356,567	234,728	585,002	662,498	440,148	809,649	125,737	(612,928)	1,838,795	762,606	6,169,125
Segment Expenses
Total Compensation and Benefits									1,695,490	1,063,813	1,180,591
Occupancy and Related Charges									58,722	64,622	65,683
Total Expenses	636,703	$ 530,247	$ 629,728	$ 540,014	452,816	$ 511,117	$ 423,218	$ 308,323	2,336,692	1,695,474	1,871,225
Income (Loss) attributable to noncontrolling interests									676,744	436,955	4,357,369
Total Assets	45,834,719				39,002,897				45,834,719	39,002,897
Reportable segments
Management, Monitoring and Transaction Fees, Net
Management Fees									905,188	797,862	732,033
Monitoring Fees									81,021	64,354	264,643
Transaction Fees									777,247	344,274	364,994
Fee Credits									(261,429)	(131,628)	(219,620)
Total Fees and Other									1,502,027	1,074,862	1,142,050
Performance Income (Loss)
Realized Incentive Fees									73,395	33,346	19,647
Realized Carried Interest									1,198,981	1,256,208	1,027,154
Unrealized Carried Interest									600,242	(420,372)	163,545
Total Performance Income (Loss)									1,872,618	869,182	1,210,346
Investment Income (Loss)
Net Realized Gains (Losses)									194,020	371,563	337,023
Net Unrealized Gains (Losses)									395,358	(584,423)	(391,962)
Total Realized and Unrealized									589,378	(212,860)	(54,939)
Interest Income and Dividends									285,696	322,857	411,536
Interest Expense									(181,612)	(188,761)	(203,085)
Net Interest and Dividends									104,084	134,096	208,451
Total Investment Income (Loss)									693,462	(78,764)	153,512
Total Segment Revenues									4,068,107	1,865,280	2,505,908
Segment Expenses
Cash Compensation and Benefits									544,987	395,016	409,992
Realized Performance Income Compensation									533,450	538,321	418,718
Unrealized Performance Income Compensation									247,601	(161,510)	66,927
Total Compensation and Benefits									1,326,038	771,827	895,637
Occupancy and Related Charges									56,410	62,400	62,657
Other Operating Expenses									243,772	234,348	233,618
Total Expenses									1,626,220	1,068,575	1,191,912
Income (Loss) attributable to noncontrolling interests									6,551	2,336	16,007
Economic Net Income (Loss)									2,435,336	794,369	1,297,989
Total Assets	15,761,312				13,333,141				15,761,312	13,333,141	13,429,298
Reportable segments | Private Markets
Management, Monitoring and Transaction Fees, Net
Management Fees									575,451	466,422	465,575
Monitoring Fees									81,021	64,354	264,643
Transaction Fees									288,879	132,602	144,652
Fee Credits									(220,710)	(103,579)	(195,025)
Total Fees and Other									724,641	559,799	679,845
Performance Income (Loss)
Realized Incentive Fees									0	0	0
Realized Carried Interest									1,198,981	1,252,370	1,018,201
Unrealized Carried Interest									520,807	(416,060)	182,628
Total Performance Income (Loss)									1,719,788	836,310	1,200,829
Investment Income (Loss)
Net Realized Gains (Losses)									0	0	0
Net Unrealized Gains (Losses)									0	0	0
Total Realized and Unrealized									0	0	0
Interest Income and Dividends									0	0	0
Interest Expense									0	0	0
Net Interest and Dividends									0	0	0
Total Investment Income (Loss)									0	0	0
Total Segment Revenues									2,444,429	1,396,109	1,880,674
Segment Expenses
Cash Compensation and Benefits									261,123	194,240	193,995
Realized Performance Income Compensation									504,092	523,448	407,280
Unrealized Performance Income Compensation									213,785	(159,786)	74,560
Total Compensation and Benefits									979,000	557,902	675,835
Occupancy and Related Charges									32,458	35,785	33,640
Other Operating Expenses									137,055	135,425	127,836
Total Expenses									1,148,513	729,112	837,311
Income (Loss) attributable to noncontrolling interests									0	0	1,645
Economic Net Income (Loss)									1,295,916	666,997	1,041,718
Total Assets	2,313,801				1,645,364				2,313,801	1,645,364	1,831,716
Reportable segments | Public Markets
Management, Monitoring and Transaction Fees, Net
Management Fees									329,737	331,440	266,458
Monitoring Fees									0	0	0
Transaction Fees									48,370	30,155	28,872
Fee Credits									(40,719)	(28,049)	(24,595)
Total Fees and Other									337,388	333,546	270,735
Performance Income (Loss)
Realized Incentive Fees									73,395	33,346	19,647
Realized Carried Interest									0	3,838	8,953
Unrealized Carried Interest									79,435	(4,312)	(19,083)
Total Performance Income (Loss)									152,830	32,872	9,517
Investment Income (Loss)
Net Realized Gains (Losses)									0	0	0
Net Unrealized Gains (Losses)									0	0	0
Total Realized and Unrealized									0	0	0
Interest Income and Dividends									0	0	0
Interest Expense									0	0	0
Net Interest and Dividends									0	0	0
Total Investment Income (Loss)									0	0	0
Total Segment Revenues									490,218	366,418	280,252
Segment Expenses
Cash Compensation and Benefits									63,637	77,017	73,863
Realized Performance Income Compensation									29,358	14,873	11,438
Unrealized Performance Income Compensation									33,816	(1,724)	(7,633)
Total Compensation and Benefits									126,811	90,166	77,668
Occupancy and Related Charges									6,478	9,517	9,808
Other Operating Expenses									31,317	38,439	40,591
Total Expenses									164,606	138,122	128,067
Income (Loss) attributable to noncontrolling interests									0	0	1,259
Economic Net Income (Loss)									325,612	228,296	150,926
Total Assets	1,534,027				1,123,103				1,534,027	1,123,103	1,232,404
Reportable segments | Capital Markets
Management, Monitoring and Transaction Fees, Net
Management Fees									0	0	0
Monitoring Fees									0	0	0
Transaction Fees									439,998	181,517	191,470
Fee Credits									0	0	0
Total Fees and Other									439,998	181,517	191,470
Performance Income (Loss)
Realized Incentive Fees									0	0	0
Realized Carried Interest									0	0	0
Unrealized Carried Interest									0	0	0
Total Performance Income (Loss)									0	0	0
Investment Income (Loss)
Net Realized Gains (Losses)									0	0	0
Net Unrealized Gains (Losses)									0	0	0
Total Realized and Unrealized									0	0	0
Interest Income and Dividends									0	0	0
Interest Expense									0	0	0
Net Interest and Dividends									0	0	0
Total Investment Income (Loss)									0	0	0
Total Segment Revenues									439,998	181,517	191,470
Segment Expenses
Cash Compensation and Benefits									80,093	29,552	34,562
Realized Performance Income Compensation									0	0	0
Unrealized Performance Income Compensation									0	0	0
Total Compensation and Benefits									80,093	29,552	34,562
Occupancy and Related Charges									2,747	2,474	2,641
Other Operating Expenses									20,513	14,994	14,618
Total Expenses									103,353	47,020	51,821
Income (Loss) attributable to noncontrolling interests									6,551	2,336	13,103
Economic Net Income (Loss)									330,094	132,161	126,546
Total Assets	484,792				354,187				484,792	354,187	521,927
Reportable segments | Principal Activities
Management, Monitoring and Transaction Fees, Net
Management Fees									0	0	0
Monitoring Fees									0	0	0
Transaction Fees									0	0	0
Fee Credits									0	0	0
Total Fees and Other									0	0	0
Performance Income (Loss)
Realized Incentive Fees									0	0	0
Realized Carried Interest									0	0	0
Unrealized Carried Interest									0	0	0
Total Performance Income (Loss)									0	0	0
Investment Income (Loss)
Net Realized Gains (Losses)									194,020	371,563	337,023
Net Unrealized Gains (Losses)									395,358	(584,423)	(391,962)
Total Realized and Unrealized									589,378	(212,860)	(54,939)
Interest Income and Dividends									285,696	322,857	411,536
Interest Expense									(181,612)	(188,761)	(203,085)
Net Interest and Dividends									104,084	134,096	208,451
Total Investment Income (Loss)									693,462	(78,764)	153,512
Total Segment Revenues									693,462	(78,764)	153,512
Segment Expenses
Cash Compensation and Benefits									140,134	94,207	107,572
Realized Performance Income Compensation									0	0	0
Unrealized Performance Income Compensation									0	0	0
Total Compensation and Benefits									140,134	94,207	107,572
Occupancy and Related Charges									14,727	14,624	16,568
Other Operating Expenses									54,887	45,490	50,573
Total Expenses									209,748	154,321	174,713
Income (Loss) attributable to noncontrolling interests									0	0	0
Economic Net Income (Loss)									483,714	(233,085)	(21,201)
Total Assets	$ 11,428,692				$ 10,210,487				$ 11,428,692	$ 10,210,487	$ 9,843,251

SEGMENT REPORTING - Fees (Detai

SEGMENT REPORTING - Fees (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Fees and Other	$ 941,648	$ 692,877	$ 931,788	$ 715,952	$ 481,475	$ 687,056	$ 576,757	$ 162,805	$ 3,282,265	$ 1,908,093	$ 1,043,768
Plus: Total investment income (loss)	$ 356,567	$ 234,728	$ 585,002	$ 662,498	$ 440,148	$ 809,649	$ 125,737	$ (612,928)	1,838,795	762,606	6,169,125
Less: Revenue earned by oil & gas producing entities									63,460	65,754	112,328
Segment Reconciling Items
Segment Reporting Information [Line Items]
Plus: Management fees relating to consolidated funds and placement fees									204,943	178,619	531,027
Less: Fee credits relating to consolidated funds									4,028	2,921	202,269
Plus: Net realized and unrealized carried interest - consolidated funds									58,562	32,651	1,190,699
Plus: Total investment income (loss)									693,462	(78,764)	153,512
Less: Revenue earned by oil & gas producing entities									63,460	65,754	112,328
Less: Reimbursable expenses									123,144	81,549	66,144
Less: Other									(19,507)	25,095	32,357
Reportable segments
Segment Reporting Information [Line Items]
Fees and Other									1,502,027	1,074,862	1,142,050
Plus: Net realized and unrealized carried interest - consolidated funds									(1,872,618)	(869,182)	(1,210,346)
Plus: Total investment income (loss)									693,462	(78,764)	153,512
Revenues									$ 4,068,107	$ 1,865,280	$ 2,505,908

SEGMENT REPORTING - Expenses (D

SEGMENT REPORTING - Expenses (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total Segment Expenses	$ 636,703	$ 530,247	$ 629,728	$ 540,014	$ 452,816	$ 511,117	$ 423,218	$ 308,323	$ 2,336,692	$ 1,695,474	$ 1,871,225
Segment Reconciling Items
Segment Reporting Information [Line Items]
Less: Equity based compensation									334,821	264,890	261,579
Less: Reimbursable expenses and placement fees									181,839	148,483	103,307
Less: Operating expenses relating to consolidated funds, CFEs and other entities									82,888	104,339	65,012
Less: Expenses incurred by oil & gas producing entities									46,411	70,312	153,611
Less: Intangible amortization									17,821	6,647	49,766
Less: Other									46,692	32,228	46,038
Reportable segments
Segment Reporting Information [Line Items]
Total Segment Expenses									$ 1,626,220	$ 1,068,575	$ 1,191,912

SEGMENT REPORTING - Income (Los

SEGMENT REPORTING - Income (Loss) Before Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting Information [Line Items]
Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders	$ 166,389	$ 153,563	$ 405,646	$ 259,343	$ 170,969	$ 352,152	$ 93,890	$ (329,939)	$ 984,941	$ 287,072	$ 488,482
Plus: Preferred Distributions									33,364	22,235	0
Plus: Non-cash equity-based charges									334,820	264,890	261,579
Less: Gain from remeasurement of tax receivable agreement liability									(67,221)	0	0
Plus: Income tax (benefit)	$ 146,826	$ 18,420	$ 18,538	$ 40,542	$ 5,800	$ 10,826	$ 6,045	$ 1,890	224,326	24,561	66,636
Segment Reconciling Items
Segment Reporting Information [Line Items]
Plus: Preferred Distributions									33,364	22,235	0
Plus: Net income (loss) attributable to noncontrolling interests held by KKR Holdings L.P.									791,021	212,878	433,693
Plus: Non-cash equity-based charges									346,035	264,890	261,579
Plus: Amortization of intangibles, placement fees and other, net									122,870	(17,267)	47,599
Less: Gain from remeasurement of tax receivable agreement liability									(67,221)	0	0
Plus: Income tax (benefit)									224,326	24,561	66,636
Reportable segments
Segment Reporting Information [Line Items]
Economic Net Income (Loss)									$ 2,435,336	$ 794,369	$ 1,297,989

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation of Assets from Segment to Consolidated (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 45,834,719	$ 39,002,897
Less: Carry pool reclassification from liabilities	1,220,559	987,994
Less: Impact of KKR Management Holdings Corp.	2,531,075	2,996,865
Segment Reconciling Items
Segment Reporting, Asset Reconciling Item [Line Items]
Less: Impact of consolidation of funds and other entities	28,659,078	24,367,570
Less: Carry pool reclassification from liabilities	1,220,559	987,994
Less: Impact of KKR Management Holdings Corp.	193,770	314,192
Accounting basis difference for oil & natural gas properties	25,042	15,242
Reportable segments
Segment Reporting, Asset Reconciling Item [Line Items]
Total Assets	$ 15,761,312	$ 13,333,141	$ 13,429,298

EQUITY (Details)

EQUITY (Details) - USD ($)

Feb. 21, 2018

Feb. 08, 2018

Jan. 16, 2018

Jun. 20, 2016

Mar. 17, 2016

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Dec. 31, 2017

Class of Stock [Line Items]

Liquidation preference per share (in dollars per unit)

$ 25

$ 25

Change of control event, increase in dividend rate (as a percent)

5.00%

Common Units

Class of Stock [Line Items]

Unit distribution announced per quarter (in dollars per unit)

$ 0.17

$ 0.17

$ 0.17

$ 0.17

$ 0.16

$ 0.16

$ 0.16

$ 0.16

Capital - Series A Preferred Units

Class of Stock [Line Items]

Units issued (in units)

13,800,000

Preferred units dividend rate (as a percent)

6.75%

Redemption price per unit (in dollars per unit)

$ 25

Change of control event, redemption price per share (in dollars per unit)

$ 25.25

Capital - Series B Preferred Units

Class of Stock [Line Items]

Units issued (in units)

6,200,000

Preferred units dividend rate (as a percent)

6.50%

Redemption price per unit (in dollars per unit)

$ 25

Change of control event, redemption price per share (in dollars per unit)

$ 25.25

2015 Unit Repurchase Program

Class of Stock [Line Items]

Unit repurchase program, authorized amount

$ 750,000,000

$ 750,000,000

Units repurchased (in units)

0

Subsequent Event | Common Units

Class of Stock [Line Items]

Unit distribution announced per quarter (in dollars per unit)

$ 0.17

Subsequent Event | Capital - Series A Preferred Units

Class of Stock [Line Items]

Preferred units dividend rate (as a percent)

7.375%

Subsequent Event | 2015 Unit Repurchase Program

Class of Stock [Line Items]

Payments to repurchase common units

$ 459,000,000

Units repurchased (in units)

31,700,000

GOODWILL AND INTANGIBLE ASSET97

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Jun. 01, 2017	Dec. 31, 2016
Goodwill [Line Items]
Carrying value of goodwill	$ 83,500		$ 89,000
Public Markets
Goodwill [Line Items]
Carrying value of goodwill	53,500		59,000
Principal Activities
Goodwill [Line Items]
Carrying value of goodwill	$ 30,000		$ 30,000
PAAMCO Prisma
Goodwill [Line Items]
Carrying value of goodwill		$ 5,500

GOODWILL AND INTANGIBLE ASSET98

GOODWILL AND INTANGIBLE ASSETS - Intangible Assets, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Intangible Assets, Net consists of the following:
Finite-Lived Intangible Assets	$ 190,526	$ 251,768
Accumulated Amortization	(61,348)	(116,744)
Intangible Assets, Net	$ 129,178	$ 135,024	$ 176,987

GOODWILL AND INTANGIBLE ASSET99

GOODWILL AND INTANGIBLE ASSETS - Change in Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Finite-lived Intangible Assets [Roll Forward]
Balance, Beginning of Period	$ 135,024	$ 176,987
Amortization Expense	(17,811)	(26,387)
Foreign Exchange	2,173	(160)
Additions	115,425	0
Write-Offs	0	(15,416)
Other	(105,633)	0
Balance, End of Period	$ 129,178	$ 135,024

GOODWILL AND INTANGIBLE ASSE100

GOODWILL AND INTANGIBLE ASSETS - Future Amortization Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
2,018	$ 16,401
2,019	13,328
2,020	13,160
2,021	12,590
2,022	12,475
2023 and thereafter	61,224
Intangible Assets, Net	$ 129,178	$ 135,024	$ 176,987
Weighted-average period over which intangible assets are expected to be amortized	9 years 7 months 10 days

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - Contingent Repayment Guarantees (Details)	Dec. 31, 2017USD ($)
Contingent Repayment Guarantees
Private equity fund carried interest amount subject to clawback provision assuming liquidation at fair value	$ 19,200,000
Liquidation value for clawback obligation	0
Clawback obligation amount if private equity vehicles liquidated at fair value	1,920,900,000
Clawback receivable maximum potential amount (up to)	223,600,000
Private Equity
Investment Commitments
Unfunded commitments	5,697,000,000
Principal Activities
Investment Commitments
Unfunded commitments	750,700,000
Capital Markets
Investment Commitments
Unfunded commitments	$ 731,800,000

COMMITMENTS AND CONTINGENCIE102

COMMITMENTS AND CONTINGENCIES - Minimum Future Lease Payments (Details) $ in Thousands	Dec. 31, 2017USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,018	$ 51,203
2,019	49,233
2,020	45,544
2,021	13,618
2022 and thereafter	23,817
Total minimum payments required	$ 183,415

REGULATORY CAPITAL REQUIREME103

REGULATORY CAPITAL REQUIREMENTS (Details) $ in Millions	12 Months Ended
	Dec. 31, 2017USD ($)entity
REGULATORY CAPITAL REQUIREMENTS
Number of entities based in Mumbai subject to capital requirements of the RBI and SEBI | entity	2
Cash restricted for payment of cash dividend and advances | $	$ 185.8

QUARTERLY FINANCIAL DATA (UN104

QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Selected Quarterly Financial Information [Abstract]
Fees and Other	$ 941,648	$ 692,877	$ 931,788	$ 715,952	$ 481,475	$ 687,056	$ 576,757	$ 162,805	$ 3,282,265	$ 1,908,093	$ 1,043,768
Less: Total Expenses	636,703	530,247	629,728	540,014	452,816	511,117	423,218	308,323	2,336,692	1,695,474	1,871,225
Total Investment Income (Loss)	356,567	234,728	585,002	662,498	440,148	809,649	125,737	(612,928)	1,838,795	762,606	6,169,125
Income (Loss) Before Taxes	661,512	397,358	887,062	838,436	468,807	985,588	279,276	(758,446)	2,784,368	975,225	5,341,668
Income Taxes	146,826	18,420	18,538	40,542	5,800	10,826	6,045	1,890	224,326	24,561	66,636
Net Income (Loss)	514,686	378,938	868,524	797,894	463,007	974,762	273,231	(760,336)	2,560,042	950,664	5,275,032
Less: Net income (loss) attributable to Redeemable Noncontrolling Interests	9,776	20,876	22,387	20,933	(13,092)	3,121	1,533	(38)	73,972	(8,476)	(4,512)
Less: Net Income (Loss) Attributable to Noncontrolling Interests	330,180	196,158	432,150	509,277	296,789	611,288	172,115	(430,359)	1,467,765	649,833	4,791,062
Net Income (Loss) Attributable to KKR & Co. L.P.	174,730	161,904	413,987	267,684	179,310	360,353	99,583	(329,939)	1,018,305	309,307	488,482
Less: Net income (loss) attributable to Series A and Series B Preferred Unitholders									33,364	22,235	0
Net Income (Loss) Attributable to KKR & Co. L.P. Common Unitholders	$ 166,389	$ 153,563	$ 405,646	$ 259,343	$ 170,969	$ 352,152	$ 93,890	$ (329,939)	$ 984,941	$ 287,072	$ 488,482
Net Income (Loss) Attributable to KKR & Co. L.P. Per Common Unit
Basic (in dollars per unit)	$ 0.35	$ 0.33	$ 0.87	$ 0.57	$ 0.38	$ 0.79	$ 0.21	$ (0.73)	$ 2.10	$ 0.64	$ 1.09
Diluted (in dollars per unit)	$ 0.32	$ 0.30	$ 0.81	$ 0.52	$ 0.35	$ 0.73	$ 0.19	$ (0.73)	$ 1.95	$ 0.59	$ 1.01
Weighted Average Common Units Outstanding
Basic (in units)	481,165,742	471,758,886	466,170,025	453,695,846	451,154,845	445,989,300	448,221,538	450,262,143	468,282,642	448,905,126	448,884,185
Diluted (in units)	520,156,583	506,873,177	501,177,423	496,684,340	484,312,804	479,975,675	481,809,612	450,262,143	506,288,971	483,431,048	482,699,194
Capital - Series A Preferred Units
Selected Quarterly Financial Information [Abstract]
Less: Net income (loss) attributable to Series A and Series B Preferred Unitholders	$ 5,822	$ 5,822	$ 5,822	$ 5,822	$ 5,822	$ 5,822	$ 5,693	$ 0	$ 23,288	$ 17,337	$ 0
Capital - Series B Preferred Units
Selected Quarterly Financial Information [Abstract]
Less: Net income (loss) attributable to Series A and Series B Preferred Unitholders	$ 2,519	$ 2,519	$ 2,519	$ 2,519	$ 2,519	$ 2,379	$ 0	$ 0	$ 10,076	$ 4,898	$ 0

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)

Feb. 08, 2018

Jan. 16, 2018

Jun. 20, 2016

Mar. 17, 2016

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2017

Dec. 31, 2016

Sep. 30, 2016

Jun. 30, 2016

Mar. 31, 2016

Feb. 12, 2018

Common Units

Subsequent Events

Unit distribution announced per quarter (in dollars per unit)

$ 0.17

$ 0.17

$ 0.17

$ 0.17

$ 0.16

$ 0.16

$ 0.16

$ 0.16

Capital - Series A Preferred Units

Subsequent Events

Preferred units dividend rate (as a percent)

6.75%

Capital - Series B Preferred Units

Subsequent Events

Preferred units dividend rate (as a percent)

6.50%

Subsequent Event | Common Units

Subsequent Events

Unit distribution announced per quarter (in dollars per unit)

$ 0.17

Subsequent Event | Capital - Series A Preferred Units

Subsequent Events

Unit distribution to be paid (in dollars per unit)

0.421875

Preferred units dividend rate (as a percent)

7.375%

Subsequent Event | Capital - Series B Preferred Units

Subsequent Events

Unit distribution to be paid (in dollars per unit)

$ 0.406250

Senior Notes | Senior Notes 5.200% Due 2033 | Subsequent Event

Subsequent Events

Aggregate principal amount

$ 120,000,000

Interest rate, stated percentage

5.20%