Medley Management (MDLM) 10-Q 14 May 15 2015 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2015	13-May-15
Document Information [Line Items]
Entity Registrant Name	MEDLEY MANAGEMENT INC.
Entity Central Index Key	1611110
Current Fiscal Year End Date	-19
Entity Filer Category	Non-accelerated Filer
Trading Symbol	mdly
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		6,000,000
Common Class B [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		100

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets
Cash and cash equivalents	$71,834	$87,206	$1,969	$5,395
Investments, at fair value	11,539	9,901
Investments, at fair value	735,623	734,870
Management fees receivable	15,024	15,173
Performance fees receivable	6,785	5,573
Other assets	9,084	9,230
Total assets	935,369	910,399
Liabilities and Equity
Loans payable	102,932	103,057
Accounts payable, accrued expenses and other liabilities	19,323	27,583
Secured borrowings	136,806	141,135
Performance fee compensation payable	11,377	11,807
Total liabilities	284,162	289,349
Equity
Capital deficit	-1,606	-2,384
Retained earnings	180	272
Total stockholder's deficit, Medley Management Inc.	-1,366	-2,052
Total equity	651,207	621,050
Total liabilities and equity	935,369	910,399
Consolidated Funds [Member]
Assets
Cash and cash equivalents	77,725	38,111
Investments, at fair value	735,623	734,870
Interest and dividends receivable	6,415	6,654
Other assets	1,340	3,681
Liabilities and Equity
Accounts payable, accrued expenses and other liabilities	13,724	5,767
Secured borrowings	136,806	141,135
Equity
Non-controlling interests	654,970	625,548
Consolidated Subsidiaries [Member]
Equity
Non-controlling interests	2,816	1,526
Medley LLC [Member]
Assets
Other assets	9,084	9,230
Equity
Non-controlling interests	-5,213	-3,972
Common Class A [Member]
Equity
Common Stock, Value, Issued	$60	$60

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Common Class A [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$0.01	$0.01
Common Stock, Shares Authorized	3,000,000,000	3,000,000,000
Common Stock, Shares, Issued	6,000,000	6,000,000
Common Stock, Shares, Outstanding	6,000,000	6,000,000
Common Class B [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$0.01	$0.01
Common Stock, Shares Authorized	1,000,000	1,000,000
Common Stock, Shares, Issued	100	100
Common Stock, Shares, Outstanding	100	100

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015
Revenues
Management fees	$16,194
Performance fees	1,212
Other revenues and fees	1,624
Total revenues	19,030
Expenses
Compensation and benefits	7,221
Performance fee compensation	112
Consolidated Funds expenses	793
General, administrative and other expenses	4,507
Total expenses	12,633
Other income (expense)
Dividend income	222
Interest expense	-2,085
Other expenses, net	-383
Interest and other income of Consolidated Funds	18,727
Net realized gain (loss) on investments of Consolidated Funds	952
Net change in unrealized depreciation on investments of Consolidated Funds	4,022
Total other income, net	17,235
Income before income taxes	23,632
Provision for income taxes	1,690
Net income	21,942
Net income attributable to Medley Management Inc.	1,274
Dividends declared per Class A common stock	$0.20
Net income per share attributable to stockholders of Class A common stock of Medley Management Inc:
Earnings Per Share, Basic (in dollars per share)	$0.19
Earnings Per Share, Diluted (in dollars per share)	$0.19
Weighted Average Number of Shares Outstanding, Basic and Diluted (in shares)	6,000,000
Consolidated Funds [Member]
Expenses
Consolidated Funds expenses	793
Other income (expense)
Interest and other income of Consolidated Funds	18,727
Interest expense of Consolidated Funds	3,804
Net realized gain (loss) on investments of Consolidated Funds	1,059
Net change in unrealized depreciation (appreciation) on secured borrowings of Consolidated Funds	-416
Net income (loss) attributable to noncontrolling interest	11,575
Consolidated Subsidiaries [Member]
Other income (expense)
Net income (loss) attributable to noncontrolling interest	1,290
Medley LLC [Member]
Other income (expense)
Net income (loss) attributable to noncontrolling interest	$7,803

Consolidated_Statements_of_Cha

Consolidated Statements of Changes in Equity (USD $)	Common Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Noncontrolling Interest [Member]	Noncontrolling Interest [Member]	Total
In Thousands, except Share data	Common Class A [Member]	Common Class B [Member]	USD ($)	USD ($)	Consolidated Funds [Member]	Consolidated Subsidiaries [Member]	Medley LLC [Member]	USD ($)
	USD ($)				USD ($)	USD ($)	USD ($)
Balance at Dec. 31, 2014	$60		($2,384)	$272	$625,548	$1,526	($3,972)	$621,050
Balance (in shares) at Dec. 31, 2014	6,000,000	100
Deconsolidation of MOF I LP					-15,321			-15,321
Net income				1,274	11,575	1,290	7,803	21,942
Stock-based compensation			778					778
Dividends declared on common stock				-1,366				-1,366
Contributions					33,168			33,168
Distributions							-9,044	-9,044
Balance at Mar. 31, 2015	$60		($1,606)	$180	$654,970	$2,816	($5,213)	$651,207
Balance (in shares) at Mar. 31, 2015	6,000,000	100

Consolidated_Statements_of_Cha1

Consolidated Statements of Changes in Equity (Parenthetical) (USD $)	Mar. 31, 2015
Statement of Stockholders' Equity [Abstract]
Dividends declared, amount per share	$0.20

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities
Net income	$21,942	$9,653
Adjustments to reconcile net income to net cash used in operating activities:
Net change in unrealized depreciation (appreciation) on investments	131	-22
Non-cash stock-based compensation	778
Depreciation and amortization	111	92
Amortization of deferred financing costs	132	44
Accretion of original issue discount	188	121
Net realized (gain) loss on investments	-952	-1,357
Changes in operating assets and liabilities:
Management fees receivable	149	-735
Performance fees receivable	-1,212	-755
Other assets	-67	-827
Accounts payable, accrued expenses and other liabilities	-8,475	-1,978
Performance fee compensation payable	-430	1,067
Net cash used in operating activities	-33,049	-96,546
Cash flows from investing activities
Purchases of property and equipment	-107	-84
Net cash used in investing activities	-107	-84
Cash flows from financing activities
Proceeds from issuance of debt obligations		17,500
Repayment of loans payable	-313
Distributions to members	-9,044	-25,588
Dividends paid	-1,423
Contribution from non-controlling interest in consolidated subsidiaries		928
Net cash provided by financing activities	17,784	93,204
Net increase (decrease) in cash and cash equivalents	-15,372	-3,426
Cash and cash equivalents, beginning of period	87,206	5,395
Cash and cash equivalents, end of period	71,834	1,969
Supplemental disclosure of non-cash financing activities
Non-cash debt		2,500
Dividends declared but not paid	1,366
Investment in MOF I attributed to deconsolidation	1,768
Standalone [Member]
Adjustments to reconcile net income to net cash used in operating activities:
Benefit from deferred taxes	349	90
Consolidated Funds [Member]
Adjustments to reconcile net income to net cash used in operating activities:
Net change in unrealized depreciation (appreciation) on investments	-3,916	7,813
Benefit from deferred taxes	-243	-252
Accretion of original issue discount	1,899	-328
Interest income paid-in-kind	-837	-1,949
Net realized (gain) loss on investments	-1,059	-1,357
Net change in unrealized (depreciation) appreciation on secured borrowings of Consolidated Funds	416	324
Changes in operating assets and liabilities:
Other assets	-793	-911
Accounts payable, accrued expenses and other liabilities	10,950	449
Cash and cash equivalents	-42,949	-5,699
Cost of investments purchased	-49,072	-105,039
Proceeds from sales and repayments of investments	38,959	3,653
Cash flows from financing activities
Contribution from non-controlling interest in consolidated subsidiaries	33,169	88,603
Proceeds from secured borrowings of Consolidated Funds	10,834	12,000
Repayments on secured borrowings of Consolidated Funds	-15,439	-239
Cash and cash equivalents, beginning of period	38,111
Cash and cash equivalents, end of period	$77,725

ORGANIZATION_AND_BASIS_OF_PRES

ORGANIZATION AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2015
Organization and Basis of Presentation [Abstract]
Organization and Basis of Presentation		1	ORGANIZATION AND BASIS OF PRESENTATION
	Medley Management Inc. (the “Corporation”) is an asset management firm offering yield solutions to retail and institutional investors. The Corporation’s national direct origination franchise provides capital to the middle market in the U.S. The Corporation, through its consolidated subsidiary Medley LLC, provides investment management services to permanent capital vehicles, long-dated private funds and separately managed accounts and serves as the general partner to the private funds, which are generally organized as pass-through entities. Medley LLC is headquartered in New York City and has an office in San Francisco.
	Initial Public Offering of Medley Management Inc.
	Medley Management Inc. was incorporated on June 13, 2014 and commenced operations on September 29, 2014 upon the completion of its initial public offering (“IPO”) of its Class A common stock. Medley Management Inc. raised $100.4 million, net of underwriting discount, through the issuance of 6,000,000 shares of Class A common stock at an offering price to the public of $18.00 per share. Medley Management Inc. used the offering proceeds to purchase 6,000,000 newly issued LLC Units (defined below) from Medley LLC. Prior to the IPO, Medley Management Inc. had not engaged in any business or other activities except in connection with its formation and IPO.
	In connection with the IPO, Medley Management Inc. issued 100 shares of Class B common stock to Medley Group LLC (“Medley Group”), an entity wholly owned by the pre-IPO members of Medley LLC. For as long as the pre-IPO members and then-current Medley personnel hold at least 10% of the aggregate number of shares of Class A common stock and LLC Units (defined below) (excluding those LLC Units held by Medley Management Inc.) then outstanding, the Class B common stock entitles Medley Group to a number of votes that is equal to 10 times the aggregate number of LLC Units held by all non-managing members of Medley LLC that do not themselves hold shares of Class B common stock and entitle each other holder of Class B common stock, without regard to the number of shares of Class B common stock held by such other holder, to a number of votes that is equal to 10 times the number of membership units held by such holder. The Class B shares do not participate in dividends and do not have any liquidation rights.
	Medley LLC Reorganization
	In connection with the IPO, Medley LLC amended and restated its limited liability agreement to modify its capital structure by reclassifying the 23,333,333 interests held by the pre-IPO members into a single new class of units (“LLC Units”). The pre-IPO members also entered into an exchange agreement under which they (or certain permitted transferees thereof) have the right, from and after the first twelve month anniversary of the date of the closing of the IPO, subject to the terms of an exchange agreement, to exchange their LLC Units for shares of Medley Management Inc.’s Class A common stock on a one-for-one basis, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications. In addition, pursuant to the amended and restated limited liability agreement, Medley Management Inc. became the sole managing member of Medley LLC.
	The pre-IPO owners, are, subject to limited exceptions, prohibited from transferring any LLC Units held by them or any shares of Class A common stock received upon exchange of such LLC Units, until the third anniversary of the date of the closing of the IPO without the Company’s consent. Thereafter and prior to the fourth and fifth anniversaries of the closing of the IPO, such holders may not transfer more than 33 1/3% and 66 2/3%, respectively, of the number of LLC Units held by them, together with the number of any shares of Class A common stock received by them upon exchange therefor, without the Company’s consent.
	Basis of Presentation
	The accompanying condensed consolidated financial statements have been prepared on the accrual basis of accounting in conformity with U.S. generally accepted accounting principles (“GAAP”) and include the accounts of Medley Management Inc., Medley LLC and its consolidated subsidiaries together with certain funds (individually “Consolidated Funds”, collectively, “Medley” or the “Company”). Additionally, the accompanying condensed consolidated financial statements of the Company and related financial information have been prepared pursuant to the requirements for reporting on Form 10-Q and Article 10 of Regulation S-X. Accordingly, certain disclosures accompanying annual financial statements prepared in accordance with GAAP may be omitted. In the opinion of management, the unaudited condensed consolidated financial results included herein contain all adjustments, consisting solely of normal recurring accruals, considered necessary for the fair presentation of financial statements for the interim period included herein. Therefore, this Form 10-Q should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2014 (the “Annual Report on Form 10-K”). The current period’s results of operations will not necessarily be indicative of results that ultimately may be achieved for the full year ending December 31, 2015.
	The Consolidated Funds have been consolidated in the accompanying financial statements for the periods presented in accordance with U.S. GAAP. Including the results of the Consolidated Funds significantly increases the reported amounts of the assets, liabilities, revenues, expenses and cash flows of the Company; however, the Consolidated Funds’ results included herein have no direct effect on the net income attributable to members or on total equity. The economic ownership interests of the investors in the Consolidated Funds are reflected as “Non-controlling interests in Consolidated Funds” and as “Net income attributable to non-controlling interests in Consolidated Funds” in the accompanying condensed consolidated financial statements.
	Prior to the Reorganization and IPO on September 29, 2014, all compensation for services rendered by senior Medley LLC professionals were reflected as distributions from members’ capital rather than as compensation expense. Subsequent to the Reorganization and IPO, all guaranteed payments made to these senior professionals are recognized as compensation expense.
		2

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies
	2.SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation
	In accordance with Accounting Standards Codification (“ASC”) 810, Consolidation, the Company consolidates those entities where it has a direct and indirect controlling financial interest based on either a variable interest model or voting interest model. As such, the Company consolidates entities that the Company concludes are variable interest entities (“VIEs”), for which the Company is deemed to be the primary beneficiary and entities in which it holds a majority voting interest or has majority ownership and control over the operational, financial and investing decisions of that entity.
	An entity in which the Company holds a variable interest is a VIE if any one of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support, (b) the holders of equity investment at risk (as a group) lack either the direct or indirect ability through voting rights or similar rights to make decisions about a legal entity’s activities that have a significant effect on the success of the legal entity or the obligation to absorb the expected losses or right to receive the expected residual returns or (c) the voting rights of some investors are disproportionate to their obligation to absorb the expected losses of the legal entity, their rights to receive the expected residual returns of the legal entity, or both, and substantially all of the legal entity’s activities either involve or are conducted on behalf of an investor with disproportionately few voting rights. Entities that do not qualify as VIEs are generally assessed for consolidation under the voting interest model.
	For those entities that qualify as a VIE, the Company performs an analysis to determine if it is the primary beneficiary. With respect to certain VIEs that qualify for accounting treatment under Accounting Standard Update (“ASU”) 2010-10, the Company determines that it is the primary beneficiary only if its involvement, through holding interests directly or indirectly in the VIE or contractually through other variable interests (e.g., carried interest and management fees), would be expected to absorb a majority of the VIE’s expected losses, receive a majority of the VIE’s expected residual returns, or both. In order to qualify for this accounting treatment, certain conditions have to be met, including if the entities have all the attributes of an investment company and are not securitization or asset-backed financing entities. For all other entities, the Company determines that it is the primary beneficiary if it holds a controlling financial interest defined as possessing both (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 or the right to receive benefits from the VIE that could potentially be significant to the VIE. The Company determines whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion continuously. In making its assessment the Company takes into consideration all fee and substantive arrangements, terms and transactions that may exist. The assessment of whether an entity is a VIE and the determination of whether the Company should consolidate such VIE requires judgments and is dependent on the particular facts and circumstances. Each entity is assessed for consolidation on a case-by-case basis.
	For those entities evaluated under the voting interest model, the Company consolidates those entities it controls through a majority voting interest or through other means whereby the Company is the general partner and is presumed to have control. The Company would not consolidate an entity in which the presumption of control by the general partner has been overcome through either the granting of substantive rights to the unaffiliated investors to either dissolve the entity or remove the general partner (“kick-out-rights”) or the granting of substantive participating rights.
	Consolidated Variable Interest Entities
	Medley Management Inc. is the sole managing member of Medley LLC and, as such, it operates and controls all of the business and affairs of Medley LLC and, through Medley LLC, conducts its business. Under ASC 810, Medley LLC meets the definition of a variable interest entity because the equity of Medley LLC is not sufficient to permit activities without additional subordinated financial support. Since Medley Management Inc. has the obligation to absorb expected losses that could be significant to Medley LLC and holds 100% of the voting power, Medley Management Inc. is considered to be the primary beneficiary of Medley LLC.
	As a result, Medley Management Inc. consolidates the financial results of Medley LLC and its subsidiaries and records a non-controlling interest for the economic interest in Medley LLC held by the non-managing members. Medley Management Inc.’s and the non-managing members’ economic interests in Medley LLC is 20.5% and 79.5%, respectively, as of March 31, 2015 and December 31, 2014. Net income attributable to the non-controlling interest in Medley LLC on the consolidated statements of operations represents the portion of earnings attributable to the economic interest in Medley LLC held by its non-managing members. Non-controlling interests in Medley LLC on the consolidated balance sheets represents the portion of net assets of Medley LLC attributable to the non-managing members based on total LLC Units of Medley LLC owned by such non-managing members.
	Medley LLC has one majority owned subsidiary, SIC Advisors LLC, that is a consolidated VIE. This entity was organized as a limited liability company and was legally formed to manage a designated fund and to isolate business risk. As of March 31, 2015 and December 31, 2014, total assets, after eliminating entries, of this VIE reflected in the consolidated balance sheets were $18.6 million and $18.0 million, respectively. Total liabilities, after eliminating entries, of this VIE were $18.7 million and $19.6 million as of March 31, 2015 and December 31, 2014, respectively. Except to the extent of the assets of this VIE that are consolidated, the holders of the consolidated VIE’s liabilities generally do not have recourse to the Company.
	Consolidated Funds
	With respect to the Consolidated Funds, which represent limited partnerships, Medley LLC earns a fixed management fee based on either (i) limited partners’ capital commitments to the funds, (ii) invested capital, (iii) net asset value (“NAV”), or (iv) lower of cost or market value of a fund’s portfolio investments. In addition, Medley earns a performance fee based upon the investment returns in excess of a stated hurdle rate. The Company considered the accounting treatment under ASU 2010-10 as all the respective conditions have been met and determined that the funds were not VIEs. However, as the general partner, and due to the lack of substantive kick out or participating rights of the limited partners, these funds have been consolidated under the voting interest model in accordance with ASC 810-20, Control of Partnerships and Similar Entities.
	In December 2014, the Company formed the Medley Opportunity Fund III LP (MOF III), which is structured as a limited partnership.  One of the Company’s wholly owned subsidiaries is the general partner and investment manager of MOF III. The Company considered the accounting treatment under ASU 2010-10 as all the respective conditions have been met and determined that MOF III was not a VIE. However, as the general partner, and due to the lack of substantive kick out or participating rights of the limited partners, this fund has been consolidated under the voting interest model in accordance with ASC 810-20.
	Deconsolidation of a Fund
	The Company had consolidated the Medley Opportunity Fund LP (MOF I LP) in its consolidated financial statements under the voting interest model in accordance with ASC 810-20, as the Company was the general partner and the limited partners lacked substantive kick out or participating rights. Effective January 1, 2015, the Company completed its role as investment manager of MOF I LP and transitioned the management of the residual assets of this fund to another asset manager. As a result of this transition, the Company deconsolidated the financial statements of this fund, on January 1, 2015. There was no gain or loss recognized upon deconsolidation.
	Basis of Accounting
	Management has determined that the Company’s Consolidated Funds are investment companies under U.S. GAAP for the purposes of financial reporting. U.S. GAAP requires that investments held by an investment company be recorded at fair value and any unrealized appreciation (depreciation) in an investment’s fair value be recognized on a current basis in the consolidated statements of operations. Additionally, the Consolidated Funds do not consolidate their majority-owned and controlled investments in portfolio companies. In the preparation of these consolidated financial statements, the Company has retained the specialized accounting guidance for the Consolidated Funds under U.S. GAAP. As such, all of the investments held by the Consolidated Funds are presented at their estimated fair values in the Company’s condensed consolidated balance sheets. Interest income of the Consolidated Funds is included in interest and other income of Consolidated Funds in the Company’s consolidated statements of operations.
	Concentrations of Credit and Market Risk
	In the normal course of business, the Company encounters significant credit and market risk. Credit risk is the risk of default on investments in debt securities, loans and derivatives that result from a borrower’s or derivative counterparty’s inability or unwillingness to make required or expected payments. Credit risk is increased in situations where the Company is investing in distressed assets or unsecured or subordinate loans or in securities that are a material part of its respective business. Market risk reflects changes in the value of investments due to changes in interest rates, credit spreads or other market factors.
	The Company may make investments outside of the United States. These non-U.S. investments are subject to the same risks associated with U.S. investments, as well as additional risks, such as fluctuations in foreign currency exchange rates, unexpected changes in regulatory requirements, heightened risk of political and economic instability, difficulties in managing the investments, potentially adverse tax consequences, and the burden of complying with a wide variety of foreign laws.
	Use of Estimates
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Management’s estimates are based on historical experience and other factors, including expectations of future events that management believes to be reasonable under the circumstances. These assumptions and estimates also require management to exercise judgment in the process of applying the Company’s accounting policies. Assumptions and estimates regarding the valuation of investments and their resulting impact on performance fees involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the consolidated financial statements. Actual results could differ from these estimates and such differences could be material.
	Indemnification
	In the normal course of business, the Company enters into contractual agreements that provide general indemnifications against losses, costs, claims and liabilities arising from the performance of individual obligations under such agreements. The Company has not experienced any prior claims or payments pursuant to such agreements. The Company’s individual maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet occurred. However, based on management’s experience, the Company expects the risk of loss to be remote.
	Non-Controlling Interests in Consolidated Entities
	Non-controlling interests in Consolidated Funds and consolidated subsidiaries represent the component of equity in such consolidated entities held by third party investors. These interests are adjusted for general partner allocations and, for funds, by subscriptions and redemptions that occur during the reporting period.
	Class A Earnings per Share
	The Company computes and presents earnings per share using the two-class method. Under the two-class method, the Company allocates earnings between common stock and participating securities. The two-class method includes an earnings allocation formula that determines earnings per share for each class of common stock according to dividends declared and undistributed earnings for the period. For purposes of calculating earnings per share, the Company reduces its reported net earnings by the amount allocated to participating securities to arrive at the earnings allocated to Class A common stockholders. Earnings is then divided by the weighted average number of Class A common stock outstanding to arrive at basic earnings per share. Diluted earnings per share reflects the potential dilution beyond shares for basic earnings per share that could occur if securities or other contracts to issue common stock were exercised, converted into common stock, or resulted in the issuance of common stock that would have shared in our earnings. Participating securities consist of the Company’s unvested restricted stock units that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in its basic and diluted calculations.
	Investments
	Investments include equity method investments that are not consolidated but in which the Company exerts significant influence, and investments held by the Consolidated Funds. Medley measures the fair value of the equity method investments that do not have a readily determinable fair value at net asset value or market value. Unrealized appreciation (depreciation) resulting from changes in fair value of the equity method investees is reflected as a component of other income (expense) in the condensed consolidated statements of operations.
	The Consolidated Funds reflect their investments at fair value with unrealized appreciation (depreciation) resulting from changes in fair value reflected as a component of net change in unrealized depreciation on investments of Consolidated Funds in the condensed consolidated statements of operations. Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date (i.e., the exit price).
	Fair Value Measurements
	The Consolidated Funds apply fair value accounting to all of their financial instruments in accordance with ASC 820, Fair Value Measurements and Disclosures. ASC 820 defines fair value, establishes a framework used to measure fair value and requires disclosures for fair value measurements. In accordance with ASC 820, the Consolidated Funds have categorized their financial instruments carried at fair value, based on the priority of the valuation technique, into a three-level fair value hierarchy as discussed in Note 4. Fair value is a market-based measure considered from the perspective of the market participant who holds the financial instrument rather than an entity specific measure. Therefore, when market assumptions are not readily available, the Consolidated Funds’ own assumptions are set to reflect those that management believes market participants would use in pricing the financial instrument at the measurement date.
	Investments for which market quotations are readily available are valued at such market quotations, which are generally obtained from an independent pricing service or multiple broker-dealers or market makers. The Company weights the use of third-party broker quotes, if any, in determining fair value based on the Company’s understanding of the level of actual transactions used by the broker to develop the quote and whether the quote was an indicative price or binding offer. However, debt investments with remaining maturities within 60 days that are not credit impaired are valued at cost plus accreted discount, or minus amortized premium, which approximates fair value. Investments for which market quotations are not readily available are valued at fair value as determined by the Company based upon inputs by third-party valuation firms. Because these investments are illiquid and because there may not be any directly comparable companies whose financial instruments have observable market values, these loans are valued using a fundamental valuation methodology, consistent with traditional asset pricing standards, that is objective and consistently applied across all loans and through time.
	The Consolidated Funds use third-party valuation firms to assist in the valuation of its portfolio investments. The valuation reports generated by the third-party valuation firms consider the evaluation of financing and sale transactions with third parties, expected cash flows and market-based information, including comparable transactions, performance multiples, and movement in yields of debt instruments, among other factors. Based on market data obtained from the third-party valuation firms, the Consolidated Funds use a market yield analysis under the income approach or an enterprise model of valuation under the market approach, or a combination thereof. In applying the market yield analysis, the value of the Consolidated Funds’ loans is determined based upon inputs such as the coupon rate, current market yield, interest rate spreads of similar securities, the stated value of the loan, and the length to maturity. In applying the enterprise model, the Consolidated Funds use a waterfall analysis that takes into account the specific capital structure of the borrower and the related seniority of the instruments within the borrower’s capital structure. To estimate the enterprise value of the portfolio company, some or all of the traditional market valuation methods and factors are weighed based on the individual circumstances of the portfolio company in order to estimate the enterprise value.
	The methodologies and information that the Company utilizes when applying the Market Approach for performing investments includes, among other things:
		·	valuations of comparable public companies (Guideline Comparable approach);
		·	recent sales of private and public comparable companies (Guideline Comparable approach);
		·	recent acquisition prices of the company, debt securities or equity securities (Acquisition Price Approach);
		·	external valuations of the portfolio company, offers from third parties to buy the company (Estimated Sales Proceeds approach);
		·	subsequent sales made by the company of its investments (Expected Sales Proceeds approach); and
		·	estimating the value to potential buyers.
	The methodologies and information that the Company utilizes when applying the Income Approach for performing investments includes:
		·	discounting the forecasted cash flows of the portfolio company or securities (Discounted Cash Flow “DCF” approach); and
		·	Black-Scholes model or simulation models or a combination thereof (Income Approach – Option Model) with respect to the valuation of warrants.
	For non-performing investments, the Company may estimate the liquidation or collateral value of the portfolio company’s assets and liabilities using an expected recovery model (Income Approach – Expected Recovery Analysis or Estimated Liquidation Proceeds).
	A multi-step valuation process is undertaken each quarter when valuing portfolio investments for which market quotations are not readily available, as described below:
		·	The quarterly valuation process begins with each portfolio investment being initially valued by the Company’s internal valuation team;
		·	An independent valuation firm engaged by the Consolidated Funds prepares an independent valuation report for approximately one-third of the portfolio investments each quarter on a rotating quarterly basis on non-fiscal year-end quarters, such that each of these investments will be valued by independent valuation firms at least twice per annum when combined with the fiscal year-end review of all the investments by independent valuation firms; and
		·	Preliminary valuation conclusions are then documented and discussed with senior management.
	Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Consolidated Funds’ investments may differ significantly from the values that would have been used had a readily available market value existed for such investments, and the differences could be material.
	Revenues
	Management Fees
	Medley provides investment management services to both public and private investment vehicles. Management fees include both base management fees, other management fees, and Part I incentive fees, as described below.
	Base management fees are calculated based on either (i) the average or ending gross assets balance for the relevant period, (ii) limited partners’ capital commitments to the funds, (iii) invested capital, (iv) the net asset value or (v) lower of cost or market value of a fund’s portfolio investments. For the private funds, Medley receives base management fees during a specified period of time, which is generally ten years from the initial closing date. However, such termination date may be earlier in certain limited circumstances or later if extended for successive one-year periods, typically up to a maximum of two years. Depending upon the contracted terms of the investment management agreement, management fees are paid either quarterly in advance or quarterly in arrears, and are recognized as earned over the period the services are provided.
	Certain management agreements provide for Medley to receive other management fee revenue derived from up front origination fees paid by the portfolio companies of the Consolidated Funds, as well as separately managed accounts. These fees are recognized when Medley becomes entitled to such fees.
	Certain management agreements also provide for Medley to receive Part I incentive fee revenue derived from net interest income (excluding gains and losses) above a hurdle rate. These fees are not subject to repayment, clawbacks or netting against realized losses. Part I incentive fees are paid quarterly and are recognized as earned over the period the services are provided.
	Performance Fees
	Performance fees consist principally of the allocation of profits from certain funds, including separately managed accounts, to which Medley provides management services. Medley is generally entitled to an allocation of income as a performance fee after returning the invested capital plus a specified preferred return as set forth in each respective agreement. Medley recognizes revenues attributable to performance fees based upon the amount that would be due pursuant to the respective agreement at each period end as if the funds were terminated at that date. Accordingly, the amount recognized reflects Medley’s share of the gains and losses of the associated funds’ underlying investments measured at their current fair values. Performance fee revenue may include reversals of previously recognized performance fees due to a decrease in the net income of a particular fund that results in a decrease of cumulative performance fees earned to date. Since fund return hurdles are cumulative, previously recognized performance fees also may be reversed in a period of appreciation that is lower than the particular fund’s hurdle rate. For the three months ended March 31, 2015, the Company reversed $0.1 million of previously recognized performance fees on a standalone and consolidated basis. The Company did not reverse any previously recognized performance fees for the period ended March 31, 2014. Cumulative performance fees recognized through March 31, 2015 were $26.7 million and $6.8 million on a standalone and consolidated basis, respectively.
	Performance fees received in prior periods may be required to be returned by Medley in future periods if the funds’ investment performance declines below certain levels. Each fund is considered separately in this regard and, for a given fund, performance fees can never be negative over the life of a fund. If upon a hypothetical liquidation of a fund’s investments at their then current fair values previously recognized and distributed performance fees would be required to be returned, a liability is established for the potential clawback obligation. As of March 31, 2015, the Company had not received any performance fee distributions, except for tax distributions related to the Company’s allocation of net income, which included an allocation of performance fees. Pursuant to the organizational documents of each respective fund, tax distributions are not subject to clawback. As such, no amounts have been accrued for clawback obligations in the accompanying condensed consolidated financial statements.
	Other Revenues and Fees
	Medley provides administrative services to certain affiliated funds and is reimbursed for direct and allocated expenses incurred in providing such administrative services, as set forth in the respective agreement. These fees are recognized as revenue in the period administrative services are rendered.
	Included in other revenues and fees are reimbursements received by Medley from SIC under its investment advisory agreement. Expenses incurred by Medley under this agreement are recorded within general, administrative, and other expenses in the consolidated statements of operations. For additional information on these reimbursements, refer to Note 10.
Performance Fee Compensation
Medley has issued profit interests in certain subsidiaries to selected employees. These profit-sharing arrangements are accounted for under ASC 710, Compensation — General, which requires compensation expense to be measured at fair value at the grant date and expensed over the vesting period, which is usually the period over which the service is provided. The fair value of the profit interests are re-measured at each balance sheet date and adjusted for changes in estimates of cash flows and vesting percentages. The impact of such changes is recorded in the consolidated statements of operations as an increase or decrease to performance fee compensation.
Stock-based Compensation
The Company accounts for stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation. Under the fair value recognition provision of this guidance, share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period.
Stock-based compensation expense recognized for the year ended December 31, 2014 is based on awards ultimately expected to vest and have been reduced for estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The effect of such change in estimated forfeitures is recognized through a cumulative catch-up adjustment that is included in the period of the change in estimate.
The value of the portion of the award that is ultimately expected to vest on a straight-line basis over the requisite service period is included within compensation and benefits on the Company’s condensed consolidated statements of operations.
Income Taxes
The Company accounts for income taxes using the asset and liability approach, which requires the recognition of tax benefits or expenses for temporary differences between the financial reporting and tax basis of assets and liabilities. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company also recognizes a tax benefit from uncertain tax positions only if it is “more likely than not” that the position is sustainable based on its technical merits. The Company’s policy is to recognize interest and penalties on uncertain tax positions and other tax matters as a component of income tax expense. For interim periods, the Company accounts for income taxes based on its estimate of the effective tax rate for the year. Discrete items and changes in its estimate of the annual effective tax rate are recorded in the period they occur.
Prior to the Company’s Reorganization and IPO, no provision was made for U.S. federal income taxes in the accompanying condensed consolidated financial statements since the Company was a group of pass-through entities for U.S. and state income tax purposes and its profits and losses were allocated to the partners who are individually responsible for reporting such amounts. A provision for income taxes was made for certain entities that were subject to New York City’s unincorporated business tax.
Following the IPO, Medley LLC and its subsidiaries continue to operate as pass-through entities for U.S. income tax purposes. Accordingly, these entities in some cases continue to be subject to New York City’s unincorporated business tax. Medley Management Inc. is subject to U.S. federal, state and local corporate income taxes, which are reflected in the Company’s consolidated financial statements.
Secured Borrowings of Consolidated Funds
The Consolidated Funds follow the guidance in ASC 860, Transfers and Servicing, when accounting for loan participations and other partial loan sales. Such guidance provides accounting and reporting standards for transfers and servicing of financial assets and requires a participation or other partial loan sale to meet the definition of a “participating interest,” as defined in the guidance. Under ASC 860, the Company applies a control-oriented approach to participating interests whereby control is considered to have been surrendered only if (i) the transferred financial assets have been isolated from the transferor, (ii) the transferee has the right to pledge or exchange the transferred financial assets it received, and (iii) the transferor, its consolidated affiliates in the financial statements being presented, or its agents do not maintain effective control over the transferred financial assets. Participations or other partial loan sales which do not meet all of these conditions remain on the Company’s condensed consolidated balance sheets and the proceeds are recorded as a secured borrowing until the definition is met. Secured borrowings are carried at fair value to correspond with the related investments, which are carried at fair value.
For these participations or partial loan sales accounted for as secured borrowings, the interest income earned on the entire loan balance is recorded within interest and other income of Consolidated Funds and the interest income earned by the buyer in the partial loan sale is recorded as interest expense of Consolidated Funds in the accompanying consolidated statements of operations. Changes in the fair value of secured borrowings of Consolidated Funds are included in net change in unrealized depreciation (appreciation) on secured borrowings in the consolidated statements of operations.
Revisions to Previously Issued Financial Statements
The Company accounts for certain loan participations as secured borrowings that in previously issued financial statements had been accounted for as true sales, as defined in ASC 860.  These loan participation agreements did not contain any prohibited constraints on exchange or transfer and the assets were legally isolated from the transferor. Upon further analysis, the Company determined that a provision in the asset management agreement between the transferee and a consolidated affiliate of the transferor had a standard provision that restricted transfer of the assets for a period of time. As a result of this constraint, the Company determined that, in accordance with ASC 860-10-40-5, the transactions should be reported as secured borrowings. The Company has determined that the impact on its previously issued financial statements was not material.  As a result, prior periods were revised as follows: (i) interest and other income of Consolidated Funds increased by $1.3 million for the three months ended March 31, 2014, with direct offsetting amounts to interest expense of Consolidated Funds, (ii) the recording of unrealized appreciation (depreciation) on investments of Consolidated Funds of $0.3 for the three months ended March 31, 2014, with direct offsetting amounts to unrealized depreciation (appreciation) on secured borrowings of Consolidated Funds, and (iii) a change in net cash used in operating activities of $11.8 million for the three months ended March 31, 2014, with offsetting changes in cash provided by financing activities. These changes had no impact on consolidated and standalone equity or net income.
Recent Accounting Pronouncements
In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This guidance outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The amendments are effective for interim and annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact, if any, that this ASU will have on its condensed consolidated financial statements.
In February 2015, the FASB issued ASU 2015-02, Consolidation – Principal versus Agent Analysis. This guidance requires an entity to evaluate whether it should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; (ii) eliminate the presumption that a general partner should consolidate a limited partnership; (iii) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; (iv) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. This guidance is effective for interim and annual periods beginning after December 15, 2015 and early application is permitted. The Company is currently evaluating the impact, if any, that this ASU will have on its consolidated financial statements.
In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with debt discounts. Under current accounting standards, such costs are reflected as an asset on the Company's condensed consolidated balance sheets. While the new guidance is effective for the Company beginning January 1, 2016, early application is permitted. The Company is currently evaluating the impact of adopting this standard on its consolidated balance sheets.
In May 2015, the FASB issued ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).  Under the amendments in this update, investments for which fair value is measured at net asset value per share (or its equivalent) using the practical expedient should not be categorized in the fair value hierarchy. Removing those investments from the fair value hierarchy not only eliminates the diversity in practice resulting from the way in which investments measured at net asset value per share (or its equivalent) with future redemption dates are classified, but also ensures that all investments categorized in the fair value hierarchy are classified using a consistent approach. Investments that calculate net asset value per share (or its equivalent), but for which the practical expedient is not applied will continue to be included in the fair value hierarchy. The amendments in this update are effective for the Company beginning January 1, 2016. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements.

INVESTMENTS

INVESTMENTS	3 Months Ended
	Mar. 31, 2015
Investments [Abstract]
Investments
	3.INVESTMENTS
	The composition of investments is as follows:
		As of
		March 31,		As of
		2015		December 31,
		(unaudited)		2014
		(Amounts in thousands)
	Equity method investments, at fair value	$	11,539	$	9,901
	Investments of Consolidated Funds, at fair value		735,623		734,870
	Total Investments	$	747,162	$	744,771
	Equity Method Investments, at Fair Value
	Medley measures its equity method investments at net asset value or at market value. Total unrealized appreciation (depreciation) recorded for the Company’s equity method investments is included in other income (expense). Equity method investments, at fair value includes Medley’s investment in Sierra Income Corporation (“SIC”) which amounted to $10.0 million and $9.9 million as of March 31, 2015 and December 31, 2014, respectively.
	Investments in Consolidated Funds
	The following table presents a summary of the investments held by the Consolidated Funds and as a percentage of total investments of Consolidated Funds.
		Investments of Consolidated Funds
		Fair Value				Percentage
		March 31,				March 31,
		2015		December 31,		2015		December 31,
		(unaudited)		2014		(unaudited)		2014
		(Amounts in thousands)
	Geographic Region/Investment Type/Industry Description:
	North America:
	Senior secured loans and notes:
	Automotive	$	21,710	$	21,937	3.0	%	3.0	%
	Banking, Finance, Insurance and Real Estate		188,471		206,424	25.5	%	28.1	%
	Beverage, Food and Tobacco		14,859		14,934	2.0	%	2.0	%
	Capital Equipment		8,000		-	1.1	%	0.0	%
	Chemicals, Plastics and Rubber		21,144		21,196	2.9	%	2.9	%
	Construction and Building		52,985		53,547	7.2	%	7.3	%
	Consumer goods: Non-durable		34,948		34,687	4.8	%	4.7	%
	Containers, Packaging and Glass		26,411		26,823	3.5	%	3.7	%
	Energy: Oil and Gas		30,333		32,736	4.1	%	4.6	%
	Healthcare and Pharmaceuticals		97,120		81,921	13.2	%	11.1	%
	High Tech Industries		25,532		25,329	3.5	%	3.4	%
	Hotel, Gaming and Leisure		10,403		11,494	1.4	%	1.6	%
	Media: Advertising, Printing and Publishing		-		346	0.0	%	0.0	%
	Metals and Mining		25,525		26,042	3.5	%	3.5	%
	Retail and Commercial Kitchen Appliances		24,715		24,886	3.4	%	3.4	%
	Services: Business		38,928		34,808	5.3	%	4.7	%
	Services: Consumer		43,133		45,545	5.9	%	6.2	%
	Total Senior Secured Loans and Notes, North America (cost of $704,698 and $711,398, respectively)	$	664,217	$	662,655	90.3	%	90.2	%
	South America:
	Senior secured loans and notes:
	Banking, Finance, Insurance and Real Estate	$	-	$	1,029	0.0	%	0.1	%
	Energy: Oil and Gas		-		424	0.0	%	0.1	%
	Total Senior Secured Loans and Notes, South America (cost of $0 and $13,049, respectively)	$	-	$	1,453	0.0	%	0.2	%
	Asia:
	Banking, Finance, Insurance and Real Estate (cost of $0 and $1,373)	$	-	$	1,377	0.0	%	0.2	%
		Investments of Consolidated Funds
		Fair Value				Percentage
		March 31,				March 31,
		2015		December 31,		2015		December 31,
		(unaudited)		2014		(unaudited)		2014
		(Amounts in thousands)
	Geographic Region/Investment Type/Industry Description:
	North America:
	Equity interests in limited liability companies:
	Banking, Finance, Insurance and Real Estate	$	45,336	$	42,338	6.2	%	5.8	%
	Construction and Building		3540		3,297	0.5	%	0.4	%
	Containers, Packaging and Glass		331		320	0.0	%	0.0	%
	Energy: Oil and Gas		-		2,596	0.0	%	0.4	%
	Healthcare and Pharmaceuticals		447		63	0.1	%	0.0	%
	Telecommunications		-		170	0.0	%	0.0	%
Total Equity Interest in Limited Liability Companies (cost of $35,993 and $40,944, respectively)	$	49,654	$	48,784	6.8	%	6.6	%
Equity securities:
Common Stock (cost of $157 and $8,913 , respectively)	$	53	$	964	0.0	%	0.1	%
Preferred Stock (cost of $0 and $10,187, respectively)	$	-	$	545	0.0	%	0.1	%
Warrants:
Banking, Finance, Insurance and Real Estate	$	10,656	$	10,363	1.4	%	1.4	%
Construction and Building		154		113	0.0	%	0.0	%
Containers, Packaging and Glass		615		105	0.1	%	0.0	%
Energy: Oil and Gas		3,182		1,793	0.4	%	0.3	%
Healthcare and Pharmaceuticals		6,306		5,137	0.9	%	0.7	%
Retail		786		893	0.1	%	0.1	%
Total Warrants (cost of $3,427 and $3,428, respectively)		21,699		18,404	2.9	%	2.5	%
Total Equity Securities (cost of $3,584 and $22,528, respectively)	$	21,752	$	19,913	2.9	%	2.7	%
Collectibles (cost of $0 and $1,385)	$	-	$	688	0.0	%	0.1	%
Total Investments of Consolidated Funds (cost of $606,918 and $790,677, respectively)	$	735,623	$	734,870	100.0	%	100.0	%

FAIR_VALUE_MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements [Abstract]
Fair Value Measurements	4.FAIR VALUE MEASUREMENTS
	The Company follows ASC 820 for measuring the fair value of portfolio investments. Fair value is the price that would be received in the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters, or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models are applied. These valuation models involve some level of management estimation and judgment, the degree of which is dependent on the price transparency for the instruments or market and the instruments’ complexity. The Company’s fair value analysis includes an analysis of the value of any unfunded loan commitments. Financial investments recorded at fair value in the condensed consolidated financial statements are categorized for disclosure purposes based upon the level of judgment associated with the inputs used to measure their value. The valuation hierarchical levels are based upon the transparency of the inputs to the valuation of the investment as of the measurement date. The three levels are defined as follows:
		·		Level I - Valuations based on quoted prices in active markets for identical assets or liabilities at the measurement date.
		·		Level II - Valuations based on inputs other than quoted prices in active markets included in Level I, which are either directly or indirectly observable at the measurement date. This category includes quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in non-active markets including actionable bids from third parties for privately held assets or liabilities, and observable inputs other than quoted prices such as yield curves and forward currency rates that are entered directly into valuation models to determine the value of derivatives or other assets or liabilities.
		·		Level III - Valuations based on inputs that are unobservable and where there is little, if any, market activity at the measurement date. The inputs for the determination of fair value may require significant management judgment or estimation and is based upon management’s assessment of the assumptions that market participants would use in pricing the assets or liabilities. These investments include debt and equity investments in private companies or assets valued using the market or income approach and may involve pricing models whose inputs require significant judgment or estimation because of the absence of any meaningful current market data for identical or similar investments. The inputs in these valuations may include, but are not limited to, capitalization and discount rates, beta and EBITDA multiples. The information may also include pricing information or broker quotes that include a disclaimer that the broker would not be held to such a price in an actual transaction. The non-binding nature of consensus pricing and/or quotes accompanied by disclaimer would result in classification as Level III information, assuming no additional corroborating evidence.
	Fair Value Measurement on a Recurring Basis
	In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the determination of which category within the fair value hierarchy is appropriate for any given financial instrument is based on the lowest level of input that is significant to the fair value measurement. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the financial instrument.
	In addition to using the above inputs in investment valuations, the Company continues to employ a valuation policy that is consistent with ASC 820 (Note 2). Consistent with the Company’s valuation policy, management evaluates the source of inputs, including any markets in which the investments are trading, in determining fair value.
	Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Company’s investments may differ significantly from the values that would have been used had a readily available market value existed for such investments, and the differences could be material.
	The Company’s equity method investments are valued based on their proportionate share of the net assets of the underlying fund. The terms of the investments generally preclude the ability to redeem the investments. Distributions from these investments will be received as the underlying assets in the funds are liquidated, the timing of which cannot be readily determined.
	The following tables present the fair value measurements of investments, by major class according to the fair value hierarchy:
		As of March 31, 2015
		(unaudited)
		Level I			Level II			Level III			Total
		(Amounts in thousands)
	Assets
	Senior secured loans and notes	$	-		$	-		$	664,217		$	664,217
	Equity interests in LLCs		-			-			49,654			49,654
	Equity securities		-			668			21,084			21,752
	Equity method investments		-			-			11,539			11,539
	Total assets	$	-		$	668		$	746,494		$	747,162
	Secured borrowings of Consolidated Funds	$	-		$	13		$	136,793		$	136,806
		As of December 31, 2014
		Level I			Level II			Level III			Total
		(Amounts in thousands)
	Assets
	Senior secured loans and notes	$	-		$	-		$	664,108		$	664,108
	Equity interests in LLCs		-			-			48,784			48,784
	Equity securities		62			29			19,822			19,913
	Investments in tangible assets		-			-			2,065			2,065
	Equity method investment		-			-			9,901			9,901
	Total assets	$	62		$	29		$	744,680		$	744,771
	Secured borrowings of Consolidated Funds	$	16		$	-		$	141,119		$	141,135
	A review of fair value hierarchy classifications is conducted on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification for certain financial assets or liabilities. Reclassifications impacting all levels of the fair value hierarchy are reported as transfers in or out of Level I, II or III category as of the beginning of the quarter in which the reclassifications occur. During the three months ended March 31, 2015, one of our warrants with a fair value of $0.1 million transferred from Level III to Level II because of the increase in availability of the transaction data or the inputs to the valuation became observable. During the three months ended March 31, 2015, one of our warrants with a fair value of $0.1 million transferred from Level I to Level II based on changes in valuation methodology.
	The following tables provide a reconciliation of the beginning and ending balances for the Consolidated Funds’ Level III investments and the Company’s investments in its equity method investees:
		As of March 31, 2015
		(unaudited)
		Financial Assets																	Liabilities
		Investments of Consolidated Funds																	Secured
		Senior									Investment								borrowings
		Secured			Equity						in			Equity					of
		Loans and			Interests in			Equity			Tangible			Method					Consolidated
		Notes			LLCs			Securities			Assets			Investments			Total		Funds
		(Amounts in thousands)
	Balance, beginning of year	$	664,108		$	48,784		$	19,822		$	2,065		$	9,901		$	744,680	$	141,119
	Deconsolidation of MOF I		-8,252			-1,370			-1,417			-2,065			1,768			-11,336		-
	Transfer out of level III		-			-			-105			-			-			-105		-
	Amortization		-2,140			-			-			-			-			-2,140		-
	Paid in-kind interest income		921			18			-			-			-			939		-
	Purchases		51,065			3,032			-			-			-			54,097		-
	Sales and settlements		-43,983			-			-			-			-			-43,983		-
	Realized and unrealized appreciation (depreciation), net		2,498			-810			2,784			-			-130			4,342		-
	Unrealized appreciation (depreciation) on secured borrowings of Consolidated Funds, net		-			-			-			-			-			-		418
	Proceeds (repayments) from secured borrowings, net		-			-			-			-			-			-		-4,744
	Balance, end of period	$	664,217		$	49,654		$	21,084		$	-		$	11,539		$	746,494	$	136,793
	Changes in unrealized (gains) losses included in earnings related to financial assets still held at the reporting date	$	2,068		$	-810		$	2,784		$	-		$	-130		$	3,912	$	420
	Total realized and unrealized appreciation (depreciation) recorded for the Consolidated Funds’ Level III investments is included in net realized gain (loss) on investments of Consolidated Funds and net change in unrealized depreciation on investments of Consolidated Funds in the consolidated statements of operations, respectively.
	The following tables summarize the quantitative inputs and assumptions used for the Consolidated Funds’ Level III inputs and the Company’s investments in its equity method investees as of March 31, 2015 and December 31, 2014:
		31-Mar-15							Range						Weighted
	Assets	(unaudited)			Valuation Technique(s)		Unobservable input		Minimum			Maximum			Average
		(Amounts in thousands)
	Senior Secured Loans and Notes	$	573,254		Income Approach (DCF)		Market Yield			9.55%			15.05%			11.90%
			40,115		Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
			21,360		Income Approach (DCF)		Discount Rate			14.50%			18.00%			16.66%
		17,699		Market Approach (Guideline Comparable)		2015 EBITDA Multiple			5.50x			6.00x			5.75x
		10,411		Market Approach (Guideline Comparable)		LTM and 2015 EBITDA Multiple			4.50x			5.50x			5.25x
		1,378		Enterprise Valuation Analysis		EBITDA Multiple/Estimated Liquidation Proceeds			2.00x / $205.8M			2.00x / $205.8M			2.00x / $205.8M
Equity Interests in LLCs		6,029		Market Approach (Guideline Comparable)		Investment Portfolio Multiple			1.10x			1.10x			1.10x
		9,617		Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
		331		Market Approach (Guideline Comparable)		LTM and 2015 EBITDA Multiple			7.50x / 7.50x			8.50x / 8.50x			8.50x / 8.50x
		2,919		Market Approach (Guideline Comparable)		LTM and NTM EBITDA Multiple			6.00x / 5.50x			7.00x / 6.50x			6.50x / 6.00x
		-		Market Approach (Guideline Comparable)		LTM and NTM EBITDA Multiple/Volatility			3.50x / 4.00x / 40.40%			4.00x / 4.00x / 72.40%			3.75x / 3.75x / 70.00%
		622		Income Approach (DCF)		Market Yield			12.23%			12.23%			12.23%
		15,136		Income Approach (DCF)		Discount Rate			14.50%			18.00%			18.00%
		15,000		Income Approach (DCF)		Discount Rate			10.00%			10.00%			10.00%
		-		Market Approach (Guideline Comparable)		LTM and 2015 EBITDA Multiple			4.50x / 4.50x			5.50x / 5.50x			5.25x / 5.25x
Equity Securities		4,700		Market Approach (Guideline Comparable)		LTM EBITDA Multiple			4.50x			5.50x			4.50x
		-		Market Approach (Guideline Comparable)		2015 EBITDA Multiple			5.50x			6.00x			5.75x
		5,727		Market Approach (Guideline Comparable)		LTM and NTM EBITDA Multiple			4.00x / 3.50x			8.50x / 8.00x			5.66x / 5.23x
		-		Enterprise Valuation Analysis		EBITDA Multiple/Estimated Liquidation Proceeds			2.00x / $205.8M			2.00x / $205.8M			2.00x / $205.8M
		10,657		Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
Equity Method Investments		11,539		Net Asset Value of Underlying Fund		N/A			N/A			N/A			N/A
	$	746,494
	Fair Value as of
	31-Mar-15							Range						Weighted
Liability	(unaudited)			Valuation Technique(s)		Unobservable input		Minimum			Maximum			Average
	(Amounts in thousands)
Secured borrowings of Consolidated Funds	$	311		Market Approach (Guideline Comparable)		LTM and NTM EBITDA Multiple			7.50x / 7.00x			8.50x / 8.00x			8.50x / 8.00x
		5,000		Income Approach (DCF)		Discount Rate			10.00%			10.00%			10.00%
		6,637		Market Approach (Guideline Comparable)		2015 EBITDA Multiple			5.50x			6.00x			5.75x
		119,857		Income Approach (DCF)		Market Yield			9.63%			13.50%			11.31%
		4,988		Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
	$	136,793
	Fair Value as of							Range						Weighted
Assets	31-Dec-14			Valuation Technique(s)		Unobservable input		Minimum			Maximum			Average
	(Amounts in thousands)
Senior Secured Loans and Notes	$	193		Negotiated Sales Proceeds		Expected Sales Proceeds		$	-		$	4,000,000		$	1,932,000
		4,009		Sales Comparison Approach		Price per Acre		$	8,000		$	41,000		$	24,500
						Price per Room		$	43,200		$	71,429		$	57,315
						Price per Unit		$	155,734		$	228,009		$	191,872
		403		Market Approach (Guideline Comparable)		LTM Revenue Multiple			0.60x			0.60x			0.45x
		346		Market Approach (Guideline Comparable)		LTM EBITDA Multiple			3.10x			3.62x			3.60x
		1,167		Market Approach (Guideline Comparable)		LTM EBITDA Multiple			3.10x			5.50x			4.30x
						LTM Revenue Multiple			0.50x			0.65x			0.58x
		1,989		Income Approach (DCF)		Discount Rate			12.0%			35.0%			20.5%
		144		Liquidation Approach		Asset Coverage		$	144,531		$	144,531		$	144,531
		566,010		Income approach		Market Yield			10.00%			15.21%			12.45%
		37,600		Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
		21,005		Income approach		Discount Rate			14.00%			18.00%			16.45%
		15,859		Market Approach (Guideline Comparable)		EBITDA Multiple			5.50x			6.00x			5.75x
		5,095		Enterprise Valuation Analysis		EBITDA Multiple			6.00x			7.00x			7.00x
		8,910		Market Approach (Guideline Comparable)		Rev Multiple / EBITDA Multiple			0.43x / 4.09x			0.43x / 4.09x			0.43x / 4.09x
		1,378		Enterprise Valuation Analysis		EBITDA Multiple/Estimated Liquidation Proceeds			2.00x / $205.8M			2.00x / $205.8M			2.00x / $205.8M
Equity Interests in LLCs		1,370		Market Approach		Unsolicited Offer Price		$	12,000,000		$	12,000,000		$	12,000,000
		5,623		Market Approach (Guideline Comparable)		Investment Portfolio Multiple			1.10x			1.10x			1.10x
		3,099		Market Approach (Guideline Comparable)		EBITDA Multiple			6.25x			8.50x			6.70x
		2,595		Market Approach (Guideline Comparable)		EBITDA Multiple / Volatility			3.75x / 50%			3.75x / 50%			3.75x / 50%
		581		Income Approach (DCF)		Market Yield			13.14%			13.14%			13.14%
		14,516		Income Approach (DCF)		Discount Rate			14.00%			18.00%			18.00%
		15,000		Income Approach (DCF)		Capitalization Rate			8.70%			8.70%			8.70%
		6,000		Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
Equity Securities		7,936		Market Approach (Guideline Comparable)		EBITDA Multiple			4.00x			8.31x			5.20x
		10,364		Option Model		Tangible Book Value Multiple / Volatility			1.30x / 41.5%			1.30x / 41.5%			1.30x / 41.5%
		105		Option Model		Volatility			90.80%			90.80%			90.80%
		194		Market Approach (Guideline Comparable)		LTM EBITDARD Multiple			10.40x			11.10x			10.75x
						NTM EBITDARD Multiple			9.50x			10.80x			10.15x
		261		Market Approach (Guideline Comparable)		Revenue Multiple			0.30x			0.60x			0.45x
		417		Income Approach (DCF)		Discount Rate			13.0%			18.0%			16.4%
		545		Market Approach (Guideline Comparable)		LTM EBITDA Multiple			5.00x			5.50x			5.25x
						LTM Revenue Multiple			0.50x			0.65x			0.58x
Tangible Assets		688		Market Approach		Appraisal of assets		$	500,000		$	2,200,000		$	1,350,000
		1,377		Sales Comparison Approach		Price per SQM			1,146			1,274			1,210
Equity Method Investment		9,901		Net Asset Value of Underlying Fund		N/A			N/A			N/A			N/A
	$	744,680
	Fair Value as of							Range						Weighted
Liability	31-Dec-14			Valuation Technique(s)		Unobservable input		Minimum			Maximum			Average
	(Amounts in thousands)
Secured borrowings of Consolidated Funds	$	130,157		Income approach		Market Yield			10.00%			15.21%			12.45%
		5,947		Market Approach (Guideline Comparable)		EBITDA Multiple			5.50x			6.00x			5.75x
		5,000		Income Approach (DCF)		Capitalization Rate			8.70%			8.70%			8.70%
		15		Market Approach (Guideline Comparable)		EBITDA Multiple			4.00x			8.31x			5.20x
	$	141,119
The significant unobservable inputs used in the fair value measurement of the Consolidated Funds’ investments in senior secured loans include discount due to lack of marketability, discount rate, market yield, earnings before interest, tax, depreciation and amortization (“EBITDA”) and revenue multiples, expected proceeds, and asset coverage. Significant increases or decreases in discount rates, market yields, EBITDA multiples in isolation would result in a significantly higher or lower fair value measurement.
The significant unobservable inputs used in the fair value measurement of the Consolidated Funds’ investments in equity interests in LLCs include discount rates, long term growth rates, and portfolio multiples. Significant increases or decreases in discount rates, growth rates and portfolio multiples would result in lower or higher fair value measurements.
The significant unobservable inputs used in the fair value measurement of the Consolidated Funds’ investments in equity securities include revenue, EBITDA and revenue multiples, price per ton, expected proceeds, discount rates, and stock price valuation. Significant increases or decreases in these factors would result in a significantly higher or lower fair value measurement.
The significant unobservable inputs used in the fair value measurement of the Consolidated Funds’ investments in tangible assets include price per ton, price per acre, price per room, price per unit appraisals and price per square foot. Significant increases or decreases in these factors would result in a significantly higher or lower fair value measurement.

OTHER_ASSETS

OTHER ASSETS	3 Months Ended
	Mar. 31, 2015
Other Asset [Abstract]
Other Assets	5. OTHER ASSETS
	The components of other assets are as follows:
		As of
		March 31,		As of
		2015		December 31,
		(unaudited)		2014
		(Amounts in thousands)
	Other Assets of Medley LLC:
	Property and equipment, net of accumulated depreciation of $1,343 and $1,232, respectively	$	1,363	$	1,367
	Security deposits		1,218		1,218
	Administrative fees receivable (Note 10)		1,652		1,500
	Deferred tax assets		953		874
	Deferred financing costs, net of accumulated amortization of $349 and $217, respectively		2,197		2,329
	Due from affiliates (Note 10)		256		382
	Prepaid expenses		468		627
	Other receivables		977		933
	Total other assets of Medley LLC		9,084		9,230
	Other Assets of Consolidated Funds
	Restricted cash		-		3,000
	Deferred tax assets		207		340
	Other receivables		1,133		341
	Total other assets of Consolidated Funds		1,340		3,681
	Total other assets	$	10,424	$	12,911

LOANS_PAYABLE

LOANS PAYABLE	3 Months Ended
	Mar. 31, 2015
Loans Payable [Abstract]
Loans Payable	6.LOANS PAYABLE
	The Company’s loans payable consist of the following:
		As of
		March 31,		As of
		2015		December 31,
		(unaudited)		2014
		(Amounts in thousands)
	Term loans under the Credit Suisse Term Loan Facility, net of unamortized discount of $948 and $1,006, respectively	$	94,052	$	93,994
	Non-recourse promissory notes, net of unamortized discount of $2,370 and $2,500, respectively		8,880		9,063
	Total loans payable	$	102,932	$	103,057
	Credit Suisse Term Loan Facility
	On August 14, 2014, the Company entered into a $110.0 million senior secured term loan credit facility (“Term Loan Facility”) with Credit Suisse AG, Cayman Islands Branch, as administrative agent and collateral agent thereunder, Credit Suisse Securities (USA) LLC, as bookrunner and lead arranger, and the lenders from time-to-time party thereto, which will mature on June 15, 2019. The proceeds from the term loans amounting to $108.9 million after a $1.1 million issuer discount, together with cash on hand, were used to: (i) pay off an existing loan with a different financial institution in the amount of $33.2 million, (ii) pay fees and expenses incurred in connection with this financing in the amount of $2.6 million, of which $2.4 million have been deferred, and (iii) pay a distribution to Medley LLC’s members in the amount of $74.5 million. In connection with this financing, the Company terminated its pre-existing credit agreement with City National Bank.
	Borrowings under the Term Loan Facility bear interest, at the borrower’s option, at a rate equal to either a Eurodollar margin over an adjusted LIBOR (with a “floor” of 1.0%) or a base rate margin over an adjusted base rate determined by reference to the highest of (i) the term loan administrative agent’s prime rate; (ii) the federal funds effective rate in effect on such day plus 0.5%; and (iii) an adjusted LIBOR plus 1.0%. The applicable margins for the Term Loan Facility are 5.5%, in the case of Eurodollar loans and 4.5%, in the case of adjusted base rate loans. Outstanding borrowings under the Term Loan Facility bore interest at a rate of 6.5% as of March 31, 2015 and December 31, 2014. In addition, the Term Loan Facility also provides the borrower with the option to raise incremental credit facilities (including an uncommitted incremental facility that provides the borrower the option to increase the amount available under the Term Loan Credit Facility by an aggregate of up to $15.0 million, subject to additional increases, provided that the net leverage ratio as of the last day of any four-fiscal quarter period, commencing with the four-fiscal quarter period ending December 31, 2014, shall not exceed 2.0 to 1.0). Borrowings are collateralized by substantially all of the equity interests in Medley LLC and its wholly owned subsidiaries.
	The Term Loan Facility requires principal repayments in quarterly installments equal to $1.4 million (which amount may be adjusted as a result of prepayment or incremental term loans drawn) commencing on March 31, 2015, with the remaining amount payable at maturity. The Company can also make voluntary repayments, without penalty, at any time prior to August 14, 2016, not to exceed $33.0 million in the aggregate. As of March 31, 2015 and December 31, 2014, outstanding borrowings under this facility was $94.1 million and $94.0 million, respectively, which is reflected net of unamortized discount of $0.9 million and $1.0 million, respectively. The discount under the term loans is being accreted, using the effective interest method, over the term of the notes. Total interest expense under this Term Loan Facility, including accretion of the note discount, was $1.6 million for the three months ended March 31, 2015. The fair value of the outstanding balance of Term Loan Facility approximated its par value as of March 31, 2015.
	In October 2014, the Company voluntarily prepaid $15.0 million of the outstanding term loans under this facility using a portion of the proceeds received from its initial public offering. The $15.0 million prepayment is being applied against the upcoming quarterly installments that would have been due commencing on March 31, 2015.
	The Term Loan Facility also contains a financial covenant that requires the Company to maintain a Maximum Net Leverage Ratio commencing with the quarter ending on December 31, 2014 of not greater than 3.5 to 1.0, with which the Company is compliant. This ratio is calculated on a trailing twelve months basis and is the ratio of Total Net Debt, as defined, to Core EBITDA, as defined, and is calculated using the Company’s standalone financial results and includes the adjustments made to calculate Core EBITDA (Note 14). Non-compliance with any of the financial or non-financial covenants without cure or waiver would constitute an event of default under the Term Loan Facility. The Term Loan Facility also contains other customary events of default, including defaults based on events of bankruptcy and insolvency, dissolution, nonpayment of principal, interest or fees when due, breach of specified covenants, change in control and material inaccuracy of representations and warranties. There were no events of default under the Term Loan Facility as of March 31, 2015.
	CNB Credit Agreement
	On August 14, 2014, the Company entered into a $15.0 million senior secured revolving credit facility with City National Bank (the “Revolving Credit Facility”). The Company intends to use any proceeds of borrowings under the Revolving Credit Facility for general corporate purposes, including funding of its working capital needs. Borrowings under the Revolving Credit Facility bear interest at the option of the Company, either (i) at an Alternate Base Rate, as defined, plus an applicable margin not to exceed 3.25% or (ii) at an Adjusted LIBOR plus an applicable margin not to exceed 4.0%. As of and during the period ended March 31, 2015, there were no amounts drawn under the Revolving Credit Facility.
	The Revolving Credit Facility also contains a financial covenant that requires the Company to maintain a Maximum Net Leverage Ratio commencing with the quarter ending on December 31, 2014 of not greater than 3.5 to 1.0, with which the Company is compliant. This ratio is calculated on a trailing twelve months basis and is the ratio of Total Net Debt, as defined, to Core EBITDA, as defined, and is calculated using the Company’s standalone financial results and includes the adjustments made to calculate Core EBITDA (Note 14). Non-compliance with any of the financial or non-financial covenants without cure or waiver would constitute an event of default under the Revolving Credit Facility. The Revolving Credit Facility also contains other customary events of default, including defaults based on events of bankruptcy and insolvency, dissolution, nonpayment of principal, interest or fees when due, breach of specified covenants, change in control and material inaccuracy of representations and warranties. There were no events of default under the Revolving Credit Facility as of March 31, 2015.
	Non-Recourse Promissory Notes
	In April 2012, the Company borrowed $10.0 million under two non-recourse promissory notes. Proceeds from the borrowings were used to purchase 1,108,033 shares of common stock of SIC, which were pledged as collateral for the obligations. Interest on the notes is paid quarterly and is equal to the dividends received by the Company related to the pledged shares. The Company may prepay the notes in whole or in part at any time without penalty and the lenders may call the notes if certain conditions are met. The notes are scheduled to mature in March 2019. The proceeds from the notes were recorded net of issuance costs of $3.8 million and are being accreted, using the effective interest method, over the term of the non-recourse promissory notes. Total interest expense under these non-recourse promissory notes, including accretion of the note discount, was $0.3 million and $0.4 million for the three months ended March 31, 2015 and 2014, respectively. The fair value of the outstanding balance of the notes was $10.3 million as of March 31, 2015 and December 31, 2014.
	In March 2014, the Company issued a promissory note in the amount of $2.5 million to a former Medley member in connection with the purchase of his membership interests. The promissory note carries no interest, has quarterly amortization payments of $312,500, and matures in March 2016. As of March 31, 2015 and December 31, 2014, the balance under this note was $1.3 million and $1.6 million, respectively.
	Contractual Maturities of Loans Payable
	As of March 31, 2015, future principal payments due under the loans payable are as follows (in thousands):
	Remaining 2015	$	937
	2016		312
	2017		2,875
	2018		5,500
	2019		96,626
		$	106,250

ACCOUNTS_PAYABLE_ACCRUED_EXPEN

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES	3 Months Ended
	Mar. 31, 2015
Accounts Payable, Accrued Expenses and Other Liabilities [Abstract]
Accounts Payable, Accrued Expenses and Other Liabilities	7.ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES
	The components of accounts payable, accrued expenses and other liabilities are as follows:
		As of
		March 31,		As of
		2015		December 31,
		(unaudited)		2014
		(Amounts in thousands)
	Accounts payable, accrued expenses and other liabilities of Medley LLC:
	Accrued compensation and benefits	$	2,841	$	8,575
	Due to affiliates (Note 10)		4,120		6,998
	Revenue share payable (Note 9)		6,744		6,669
	Dividends payable		1,366		1,423
	Income taxes payable		742		741
	Professional fees		499		545
	Deferred rent		427		474
	Deferred tax liabilities		517		245
	Accounts payable and accrued expenses		2,067		1,913
	Total accounts payable, accrued expenses and other liabilities of Medley LLC		19,323		27,583
	Accounts payable, accrued expenses and other liabilities of Consolidated Funds		13,724		5,767
	Total accounts payable, accrued expenses and other liabilities	$	33,047	$	33,350
	As of March 31, 2015 and December 31, 2014, dividends payable was comprised of $1.2 million due to the Company’s Class A common stockholders and $0.2 million payable to the Company’s restricted stock unit holders.  Dividends payable to Class A common holders represents a $0.20 per share of Class A common stock dividend that was declared on March 29, 2015 and November 10, 2014, respectively, to shareholders of record as of the close of business on April 23, 2015 and December 17, 2014, respectively, but not paid until May 6, 2015 and January 5, 2015, respectively.  As the restricted stock units are participating securities, the Company calculated the amount due to the holders of the restricted stock units based on the $0.20 per share of Class A common stock dividend declaration amount and the number of restricted stock units expected to vest.

SECURED_BORROWINGS

SECURED BORROWINGS	3 Months Ended
	Mar. 31, 2015
Secured Borrowings [Abstract]
Secured Borrowings	8.SECURED BORROWINGS OF CONSOLIDATED FUNDS
	The Consolidated Funds have loan participations which do not meet the definition of a “participating interest”, as defined in ASC 860, Transfers and Servicing. As such, these loan participations remain on the Company’s condensed consolidated balance sheets and are recorded at fair value, as secured borrowings of Consolidated Funds.
	As of March 31, 2015, secured borrowings of Consolidated Funds at cost and fair value totaled $137.4 million and $136.8 million, respectively. The fair value of the investments that are associated with these secured borrowings was $136.8 million. During the three months ended March 31, 2015, the Consolidated Funds received net repayments on secured borrowings of $4.6 million. During the three months ended March 31, 2014, the Consolidated Funds received net proceeds from secured borrowings of $11.8 million.
	As of December 31, 2014, secured borrowings of Consolidated Funds at cost and fair value totaled $143.0 million and $141.1 million, respectively. The fair value of the investments that are associated with these secured borrowings was $141.1 million.
	For the three months ended March 31, 2015 and 2014, the Company recorded interest expense related to the secured borrowings of the Consolidated Funds of $3.8 million and $1.3 million, respectively.
	Future minimum repayments under the secured borrowings of the Consolidated Funds are  $2.0 million, $4.0 million, $8.7 million, $36.9 million and $81.0 million for the years ended December 31, 2015, 2016, 2017, 2018 and 2019, respectively, and $5.7 million thereafter.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies
	9.COMMITMENTS AND CONTINGENCIES
	Operating Leases
	Medley leases office space in New York City and San Francisco under non-cancelable lease agreements that expire at various times through December 2020. Rent expense was $0.7 million and $0.6 million for the three months ended March 31, 2015 and 2014, respectively.
	Future minimum rental payments under non-cancelable leases are as follows (in thousands):
	Remaining 2015	$	1,831
	2016		784
	2017		452
	2018		457
	2019		463
	Thereafter		469
	Total future minimum lease payments	$	4,456
	Capital Commitments to Funds
	As of March 31, 2015 and December 31, 2014, the Company had aggregate unfunded commitments of $0.9 million and $1.1 million, respectively, to certain long-dated private funds.
	Other Commitments
	In April 2012, the Company entered into an obligation to pay a fixed percentage of management and incentive fees received by the Company from SIC. The agreement was entered into contemporaneously with the $10 million non-recourse promissory notes that were issued to the same parties (Note 6). The two transactions were deemed to be related freestanding contracts and the $10 million of loan proceeds were allocated to the contracts using their relative fair values. At inception, the Company recognized an obligation of $4.4 million representing the present value of the future cash flows expected to be paid under this agreement. As of March 31, 2015 and December 31, 2014, the obligation amounted to $6.7 million and is recorded as revenue share payable, a component of accounts payable, accrued expenses and other liabilities on the condensed consolidated balance sheets. The change in the estimated cash flows for this obligation is recorded in other income (expense) on the condensed consolidated statements of operations.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions
	10.RELATED PARTY TRANSACTIONS
	Substantially all of Medley’s revenue is earned through agreements with its consolidated and non-consolidated funds for which it collects management and performance fees for providing investment and management services.
	In April 2012, Medley entered into an investment advisory agreement (“IAA”) with SIC. Pursuant to the terms of the IAA, Medley agreed to bear all organization and offering expenses (“O&O Expenses”) related to SIC until the earlier of the end of the SIC offering period or such time that SIC has raised $300 million in gross proceeds in connection with the sale of shares of its common stock. Effective June 2, 2014, Medley was no longer liable for these expenses as SIC had reached the $300 million in gross proceeds threshold. The SIC IAA also requires SIC to reimburse Medley for O&O Expenses incurred by Medley in an amount equal to 1.25% of the aggregate gross proceeds in connection with the sale of shares of its common stock until the earlier of the end of the SIC offering period, which is currently scheduled to terminate in April 2016, or Medley has been repaid in full. As of March 31, 2015 and December 31, 2014, there were no reimbursements that were due to Medley.
	Medley did not incur O&O Expenses or receive reimbursements of O&O during the three months ended March 31, 2015. During the three months ended March 31, 2014, Medley incurred O&O Expenses of $0.7 million which were recorded within general, administrative, and other expenses in the condensed consolidated statements of operations. Reimbursements of O&O are recorded in other revenues and fees on the condensed consolidated statements of operations and were $0.9 million during the three months ended March 31, 2014.
	In June 2012, Medley entered into an Expense Support and Reimbursement Agreement (“ESA”) with SIC. Under the ESA, until June 30, 2015, unless extended, Medley will pay up to 100% of SIC’s operating expenses in order for SIC to achieve a reasonable level of expenses relative to its investment income. Pursuant to the ESA, SIC has a conditional obligation to reimburse Medley for any amounts they funded under the ESA if, within three years of the date on which Medley funded such amounts, SIC meets certain financial levels. For the three months ended March 31, 2015 and 2014, Medley recorded $2.2 million and $1.3 million, respectively, for ESA expenses under this agreement. The ESA expenses are recorded within general, administrative, and other expense in the condensed consolidated statements of operations. Medley recorded a liability of $4.1 million and $5.2 million as of March 31, 2015 and December 31, 2014, respectively, for ESA expenses related to this agreement. These amounts are included in accounts payable, accrued expenses and other liabilities as due to affiliates on the condensed consolidated balance sheets.
	In January 2011, Medley entered into an administration agreement with MCC (the “MCC Admin Agreement”), whereby Medley agreed to provide administrative services necessary for the operations of MCC. MCC agreed to pay Medley for the costs and expenses incurred in providing such administrative services, including an allocable portion of Medley’s overhead expenses and an allocable portion of the cost of MCC’s officers and their respective staffs. Medley records these administrative fees as revenue in the period when the services are provided and are included in other revenues and fees on the condensed consolidated statement of operations. During the three months ended March 31, 2015 and 2014, the Company recorded $1.1 million and $0.8 million, respectively, of revenue related to the MCC Admin Agreement. As of March 31, 2015 and December 31, 2014, the Company had $1.1 million of administrative fees receivable under the MCC Admin Agreement, which are included in other assets on the condensed consolidated balance sheets.
	In April 2012, Medley entered into an administration agreement with SIC (the “SIC Admin Agreement”), whereby Medley agreed to provide administrative services necessary for the operations of SIC. SIC agreed to pay Medley for the costs and expenses incurred in providing such administrative services including an allocable portion of Medley’s overhead expenses and an allocable portion of the cost of SIC’s officers and their respective staffs. Medley records these administrative fees as revenue in the period when the services are provided and are included in other revenues and fees on the condensed consolidated statement of operations. For the three months ended March 31, 2015 and 2014, the Company recorded $0.6 million and $0.2 million, respectively, of revenue related to the SIC Admin Agreement. As of March 31, 2015 and December 31, 2014, the Company had $0.6 million and $0.4 million, respectively, of administrative fees receivable under the SIC Admin Agreement, which are included in other assets on the condensed consolidated balance sheets.
	Promissory Note
	In March 2014, the Company issued a promissory note in the amount of $2.5 million to a former Medley member in connection with the purchase of his membership interests. The promissory note carries no interest, has quarterly amortization payments of $312,500, and matures in March 2016.

EARNINGS_PER_CLASS_A_SHARE

EARNINGS PER CLASS A SHARE	3 Months Ended
	Mar. 31, 2015
Earnings Per Class A Share [Abstract]
Earnings Per Class A Share	11.EARNINGS PER CLASS A SHARE
	The table below presents basic and diluted net income per Class A share using the two-class method for the three months ended March 31, 2015:
		For the Three Months Ended
		31-Mar-15
		(unaudited)
		(Amounts in thousands,
		except per share amounts)
	Basic and diluted net income per share:
	Numerator
	Net income attributable to Medley Management Inc.	$	1,274
	Less: Dividends declared on Class A common stock (1)		-1,200
	Less: Dividends payable to participating securities (2)		-166
	Less: Overdistributed net income available to participating securities (2)		15
	Undistributed net income available to class A common stockholders	$	-77
	Denominator
	Weighted average shares of Class A shares outstanding, including participating securities		7,142,604
	Less: weighted average of participating securities (2)		-1,142,604
	Weighted average Class A common stock outstanding: Basic		6,000,000
	Weighted average shares of Class A shares outstanding: Diluted		6,000,000
	Add: dilutive effects of conversion of LLC Units (3)		-
	Weighted average dilutive shares outstanding		6,000,000
	Net income per Class A share: Basic and Diluted
	Distributable earnings	$	0.20
	Undistributed income		-0.01
	Net income per Class A share	$	0.19
	(1)The Company declared a $0.20 per share dividend on Class A common stock on March 29, 2015.
	(2)Participating securities relate to the Company’s grant of restricted stock units in connection with its IPO, adjusted for actual forfeitures and additional grants during the period.
	(3)Excludes the assumed conversion of 23,333,333 LLC units to Class A shares as the impact would be antidilutive

INCOME_TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2015
Income Taxes [Abstract]
Income Taxes
	12.INCOME TAXES
	Deferred income taxes reflect the net effect of temporary differences between the tax basis of an asset or liability and its reported amount in the Company’s condensed consolidated balance sheets. These temporary differences result in taxable or deductible amounts in future years.  As of March 31, 2015 and December 31, 2014, the Company had total deferred tax assets of $1.2 million which consists primarily of temporary differences relating to certain accrued expenses and, as of March 31, 2015, stock compensation and a tax benefit relating to tax goodwill. Total deferred tax liabilities were $0.5 million and $0.2 million as of March 31, 2015 and December 31, 2014, respectively, which consists primarily of temporary differences relating to accrued fee income and accumulated net unrealized losses. The tax provision for deferred income taxes results from temporary differences arising principally from certain accrued expenses, deferred rent, fee income accruals, and depreciation.
	The Company’s effective tax rate was 7.2% and 5.0% for the three months ended March 31, 2015 and 2014, respectively.  The quarterly provision for income taxes is determined based on the Company’s estimated full year effective tax rate adjusted by the amount of tax attributable to infrequent or unusual items that are separately recognized on a discrete basis in the income tax provision in the quarter in which they occur.  The Company’s effective tax rate includes a rate benefit attributable to the fact that the Company’s subsidiaries operate as limited liability companies, which are not subject to federal or state income tax. Accordingly, a portion of the Company’s earnings attributable to the non-controlling interest are not subject to corporate level taxes. For the three months ended March 31, 2015, the Company was only subject to federal and state income taxes on its pre-tax income attributable to Medley Management Inc.  The Company was not subject to any federal and state income taxes during the three months ended March 31, 2014.
	Interest expense and penalties related to income tax matters are recognized as a component of the provision for income taxes. There were no such amounts incurred during the three months ended March 31, 2015 and 2014. As of March 31, 2015 and December 31, 2014 and during the three months ended March 31, 2015 and 2014, there were no uncertain tax positions taken that were not more likely than not to be sustained. Certain subsidiaries of the Company are no longer subject to tax examinations by taxing authorities for tax years prior to 2010 and, presently, have no open examinations for tax years before 2014.

COMPENSATION_EXPENSE

COMPENSATION EXPENSE	3 Months Ended
	Mar. 31, 2015
Compensation Expense [Abstract]
Compensation Expense	13.COMPENSATION EXPENSE
	Compensation generally includes salaries, bonuses, and profit sharing awards. Bonuses and profit sharing awards are accrued over the service period to which they relate. Prior to the Company’s Reorganization and IPO, all payments made to the Medley LLC’s members were accounted for as distributions on the equity held by such members rather than as employee compensation. Subsequent to the Company’s Reorganization and IPO, guaranteed payments paid to Medley LLC’s members who are senior professionals will be accounted for as employee compensation.
	Performance Fee Compensation
	In October 2010, the Company granted shares of vested profits interests in certain subsidiaries to selected employees. These awards are viewed as a profit-sharing arrangement and are accounted for under ASC 710, which requires compensation expense to be recognized over the vesting period, which is usually the period over which service is provided. The shares were vested at grant date, subject to a divestiture percentage based on percentage of service completed from the award grant date to the employee’s termination date. The Company adjusts the related liability quarterly based on changes in estimated cash flows for the profit interests.
	In January 2014, the Company granted additional shares of profit interests in certain subsidiaries to selected employees. The shares were fully vested at grant date and were not subject to a divestiture percentage.
	In February 2015, the Company granted incentive cash bonus awards to selected employees.  These awards entitle employees to receive cash compensation based on distributed performance fees received by the Company from certain institutional funds. Eligibility to receive payments pursuant to these incentive awards is based on continued employment and ceases automatically upon termination of employment.  Performance compensation expense is recorded based on the fair value of the incentive awards at the date of grant and is recognized on a straight-line basis over the expected requisite service period.  The performance compensation liability is subject to re-measurement at the end of each reporting period and any changes in the liability are recognized in the then current reporting period.
	For the three months ended March 31, 2015 and 2014, performance compensation was $0.1 million and $1.5 million, respectively. As of March 31, 2015 and December 31, 2014, the total performance fee compensation payable for these awards was $11.4 million and $11.8 million, respectively.
	Retirement Plan
	The Company sponsors a defined-contribution 401(k) retirement plan that covers all employees. Employees are eligible to participate in the plan immediately, and participants are 100% vested from the date of eligibility. The Company makes contributions to the Plan of 3% of an employee’s eligible wages, up to a maximum limit as determined by the Internal Revenue Service. The Company also pays all administrative fees related to the plan. For the three months ended March 31, 2015 and 2014, the Company’s accrued contributions to the plan were $0.1 million and $0.2 million, respectively.
	Stock-Based Compensation
	In connection with the IPO, the Company adopted the Medley Management Inc. 2014 Omnibus Incentive Plan (the “Plan”). The purpose of the Plan is to provide a means through which the Company may attract and retain key personnel and to provide a means whereby directors, officers, employees, consultants and advisors (and prospective directors, officers, employees, consultants and advisors) of the Company can acquire and maintain an equity interest in the Company, or be paid incentive compensation, including incentive compensation measured by reference to the value of Medley Management Inc.’s class A common stock or Medley LLC’s unit interests, thereby strengthening their commitment to the welfare of the Company and aligning their interests with those of the Company’s stockholders. The Plan provides for the issuance of incentive stock options (“ISOs”), nonqualified stock options, stock appreciation rights (“SARs”), restricted stock, restricted stock units (“RSUs”), stock bonuses, other stock-based awards and cash awards. The maximum aggregate number of awards available to be granted under the plan, as amended, is 4,500,000, of which all or any portion may be issued as shares of Medley Management Inc.’s Class A common stock or Medley LLC’s unit interests. Shares of Class A common stock issued by the Company in settlement of awards may be authorized and unissued shares, shares held in the treasury of the Company, shares purchased on the market or by private purchase or a combination of the foregoing. As of March 31, 2015 and December 31, 2014, there were 3.4 million and 3.3 million awards, respectively, available to be granted under the Plan.
	The fair value of the RSUs granted in 2014 was determined to be the fair value of the underlying shares on the date of grant and aggregated to $16.0 million. This total fair value, which was adjusted for anticipated forfeitures of up to 8% per annum, will be charged to compensation expense on a straight-line basis over the vesting period, which is generally up to five years. For the three months ended March 31, 2015, stock-based compensation was $0.8 million.
	The following summarizes RSU activity for the three months ended March 31, 2015:
				Weighted
				Average Grant
		Number of RSUs		Date Fair Value
	Balance at December 31, 2014		1,197,915	$	17.91
	Granted		82,000		12.68
	Forfeited		-168,000		18.00
	Vested		-		-
	Balance at March 31, 2015		1,111,915	$	17.51
	As of March 31, 2015 there were approximately 920,000 RSUs outstanding net of estimated forfeitures, which are expected to vest. Unamortized compensation cost related to unvested RSUs at March 31, 2015 was $14.5 million and is expected to be recognized over a weighted average period of 4.5 years.

MARKET_AND_OTHER_RISK_FACTORS

MARKET AND OTHER RISK FACTORS	3 Months Ended
	Mar. 31, 2015
Market and Other Risk Factors [Abstract]
Market and Other Risk Factors
	14.MARKET AND OTHER RISK FACTORS
	Due to the nature of the Consolidated Funds’ investment strategy, their portfolio of investments has significant market and credit risk. As a result, the Company is subject to market and other risk factors, including, but not limited to the following:
	Market Risk
	The market price of investments may significantly fluctuate during the period of investment. Investments may decline in value due to factors affecting securities markets generally or particular industries represented in the securities markets. The value of an investment may decline due to general market conditions that are not specifically related to such investment, such as real or perceived adverse economic conditions, changes in the general outlook for corporate earnings, changes in interest or currency rates or adverse investor sentiment generally. They may also decline due to factors that affect a particular industry or industries, such as labor shortages or increased production costs and competitive conditions within an industry.
	Credit Risk
	There are no restrictions on the credit quality of the investments the Company intends to make. Investments may be deemed by nationally recognized rating agencies to have substantial vulnerability to default in payment of interest and/or principal. Some investments may have low-quality ratings or be unrated. Lower rated and unrated investments have major risk exposure to adverse conditions and are considered to be predominantly speculative. Generally, such investments offer a higher return potential than higher rated investments, but involve greater volatility of price and greater risk of loss of income and principal.
	In general, the ratings of nationally recognized rating organizations represent the opinions of agencies as to the quality of the securities they rate. Such ratings, however, are relative and subjective; they are not absolute standards of quality and do not evaluate the market value risk of the relevant securities. It is also possible that a rating agency might not change its rating of a particular issue on a timely basis to reflect subsequent events. The Company may use these ratings as initial criteria for the selection of portfolio assets for the Company but is not required to utilize them.
	Limited Liquidity of Investments
	The Company intends to invest in investments that may not be readily marketable. Illiquid investments may trade at a discount from comparable, more liquid investments and, at times there may be no market at all for such investments. Subordinate investments may be less marketable, or in some instances illiquid, because of the absence of registration under federal securities laws, contractual restrictions on transfer, the small size of the market or the small size of the issue (relative to issues of comparable interests). As a result, the Company may encounter difficulty in selling its investments or may, if required to liquidate investments to satisfy redemption requests of its investors or debt service obligations, be compelled to sell such investments at less than fair value.
	Counterparty Risk
	Some of the markets in which the Company may affect its transactions are “over-the-counter” or “interdealer” markets. The participants in such markets are typically not subject to credit evaluation and regulatory oversight, unlike members of exchange-based markets. This exposes the Company to the risk that a counterparty will not settle a transaction in accordance with its terms and conditions because of a dispute over the terms of the applicable contract (whether or not such dispute is bona fide) or because of a credit or liquidity problem, causing the Company to suffer loss. Such “counterparty risk” is accentuated for contracts with longer maturities where events may intervene to prevent settlement, or where the Company has concentrated its transactions with a single or small group of counterparties.
	Currency Risk
	The Company may invest in financial instruments and enter into transactions denominated in currencies other than its functional currency. Although the Company may seek to hedge currency exposure through financial instruments, the Company may still be exposed to risks that the exchange rate of its currency relative to other foreign currencies may change in a manner that has an adverse effect on the value of that portion of the Company’s assets or liabilities denominated in currencies other than the functional currency.
	The Company may enter into derivative contracts to manage the risk associated with foreign currency exchange fluctuations on its non-U.S. dollar denominated holdings.

SEGMENT_REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Segment Reporting
	15.SEGMENT REPORTING
	The Company’s business is currently comprised of only one reportable segment, the investment management segment, and substantially all Company operations are conducted through this segment. The investment management segment provides investment management services to permanent capital vehicles, long-dated private funds and separately managed accounts. The Company conducts its investment management business in the United States, where substantially all of its revenues are generated.
	In addition to analyzing the Company’s results on a GAAP basis, management also makes operating decisions and assesses business performance based on the financial and operating metrics and data that are presented without the consolidation of any funds. Core Net Income and Core EBITDA are income measures that are used by management to assess the performance of its business.
	Core Net Income. Core Net Income is an income measure that is used by management to assess the performance of the business through the removal of non-core items, as well as other non-recurring expenses. It is calculated by adjusting standalone net income attributable to members of Medley to exclude reimbursable expenses associated with the launch of funds, certain one-time severance costs and stock-based compensation associated with RSUs that were granted to employees in connection with the Company’s IPO.
	Core Earnings before interest, income taxes, depreciation and amortization (Core EBITDA). Core EBITDA is calculated as Core Net Income before interest expense, income taxes and depreciation.
	The following presents the standalone financial results of the Company’s operating results for the three months ended March 31, 2015 and 2014:
		For the Three Months Ended
		March 31,
		(unaudited)
		2015		2014
		(Amounts in thousands)
	Revenues
	Management fees	$	17,520	$	14,991
	Performance fees		6,336		76
	Other revenues and fees		1,624		2,013
	Total revenues		25,480		17,080
	Expenses
	Compensation and benefits		7,221		3,759
	Performance fee compensation		112		1,518
	General, administrative and other expenses		4,507		4,229
	Total expenses		11,840		9,506
	Other income (expense)
	Dividend income		222		222
	Interest expense		-2,085		-633
	Other expenses, net		-262		-1,192
	Total other expense, net		-2,125		-1,603
	Income before income taxes		11,515		5,971
	Provision for income taxes		1,148		230
	Net income		10,367		5,741
	Net income attributable to non-controlling interests in consolidated subsidiaries		1,290		-47
	Net income attributable to Medley Management Inc. and non-controlling interests in Medley LLC	$	9,077	$	5,788
	Reimbursable fund startup expenses (1)		1,923		1,275
	Severance expense (1)		121		6
	IPO date award stock-based compensation (1)		646		-
	Adjustment for pre-IPO guaranteed payments to members (1)(2)		-		-1,226
	Core Net Income	$	11,767	$	5,843
	Interest expense		2,085		633
	Income taxes		1,499		230
	Depreciation and amortization		111		92
	Core EBITDA	$	15,462	$	6,798
	(1)    Presented net of income taxes.
	(2)Represents a pro forma adjustment to reflect guaranteed payments to Medley LLC members as compensation expense. Prior to the Company’s Reorganization and IPO, these payments were recorded as distributions from member’s capital.
	The following tables reconcile the Company’s segment results to its consolidated results of operations:
		For the Three Months Ended March 31, 2015
		(unaudited)
				Consolidation
				Adjustments
				and
				Reconciling			Consolidated
		Standalone		Items			Results
		(Amounts in thousands)
	Revenues	$	25,480	$	-6,450	-1	$	19,030
	Expenses		11,840		793	-2		12,633
	Other income (expense), net		-2,125		19,360	-3		17,235
	Provision for income taxes		1,148		542	-4		1,690
	Net income attributable to non-controlling interests in consolidated subsidiaries		1,290		-			1,290
	Net income attributable to non-controlling interests in Consolidated Funds		-		11,575			11,575
	Net income attributable to non-controlling interests in Medley LLC		7,803		-			7,803
	Net income attributable to Medley Management Inc.		1,274		-			1,274
	Add: Net income attributable to non-controlling interests in Medley LLC		7,803		-			7,803
	Net income attributable to Medley Management Inc. and non-controlling interests in Medley LLC		9,077		-			9,077
	Reimbursable fund startup expenses		1,923		-			1,923
	Severance expenses		121		-			121
IPO date award stock-based compensation		646		-			646
Core Net Income	$	11,767	$	-		$	11,767
	For the Three Months Ended March 31, 2014
	(unaudited)
			Consolidation
			Adjustments
			and
			Reconciling			Consolidated
	Standalone		Items			Results
	(Amounts in thousands)
Revenues	$	17,080	$	-1,084	-1	$	15,996
Expenses		9,506		320	-2		9,826
Other income (expense)		-1,603		5,590	-3		3,987
Provision for income taxes		230		274	-4		504
Net income attributable to non-controlling interests in consolidated subsidiaries		-47					-47
Net income attributable to non-controlling interests in Consolidated Funds		-		3,912			3,912
Net income attributable to non-controlling interests in Medley LLC		5,788		-			5,788
Net income attributed to Medley Management Inc.		-		-			-
Add: Net income attributable to non-controlling interests in Medley LLC		5,788		-			5,788
Net income attributable to Medley Management Inc. and non-controlling interests in Medley LLC		5,788		-			5,788
Reimbursable fund startup expenses		1,275		-			1,275
Severance expenses		6		-			6
Adjustment for pre-IPO guaranteed payments to members		-1,226		-			-1,226
Core Net Income	$	5,843	$	-		$	5,843
(1)Adjustments and reconciling items to revenues represent management and performance fees earned from Consolidated Funds which were eliminated in consolidation. For the three months ended March 31, 2015 and 2014, such adjustments and reconciling items were as follows:
	2015		2014
	(Amounts in thousands)
Management fees from Consolidated Funds eliminated in consolidation	$	-1,326	$	-1,763
Performance fees eliminated in consolidation		-5,124		679
Total consolidated adjustments and reconciling items	$	-6,450	$	-1,084
(2)Adjustments and reconciling items to expenses represent expenses from Consolidated Funds which were eliminated in consolidation. For the three months ended March 31, 2015 and 2014, such adjustments and reconciling items were as follows:
	2015		2014
	(Amounts in thousands)
Consolidated Funds Expenses	$	793	$	320
Total consolidated adjustments and reconciling items	$	793	$	320
(3)Adjustments and reconciling items to other income primarily represent net interest income and net investment income from Consolidated Funds. For the three months ended March 31, 2015 and 2014, such adjustments and reconciling items were as follows:
	2015		2014
	(Amounts in thousands)
Interest and other income of Consolidated Funds	$	18,727	$	13,421
Interest expense on secured borrowings of Consolidated Funds		-3,804		-1,312
Net realized gain (loss) on investment of Consolidated Funds		952		1,357
Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		4,022		-7,813
Net change in unrealized depreciation (appreciation) on secured borrowings of Consolidated Funds		-416		-324
Elimination of equity income (loss) from Consolidated Funds		-121		261
Total consolidated adjustments and reconciling items	$	19,360	$	5,590
(4)Adjustments and reconciling items to the provision for income taxes represent income taxes from Consolidated Funds. For the three months ended March 31, 2015 and 2014, such adjustments and reconciling items were as follows:
	2015		2014
	(Amounts in thousands)
Consolidated Funds provision for income taxes	$	542	$	274
Total consolidated adjustments and reconciling items	$	542	$	274

CONSOLIDATING_SCHEDULES

CONSOLIDATING SCHEDULES	3 Months Ended
	Mar. 31, 2015
Organization and Basis of Presentation [Abstract]
Consolidating Schedules
	16.CONSOLIDATING SCHEDULES
	The following supplemental financial information illustrates the consolidating effects of the Consolidated Funds on the Company’s financial condition as of March 31, 2015 and December 31, 2014, and the Company’s results from operations for the three months ended March 31, 2015 and 2014. The financial condition and results of operations for Medley are presented in the tables below under the “Standalone” column.
		For the Three Months Ended March 31, 2015
		(unaudited)
				Consolidated
		Standalone		Funds		Eliminations		Consolidated
		(Amounts in thousands)
	Revenues:
	Management fees	$	17,520	$	-	$	-1,326	$	16,194
	Performance fees		6,336		-		-5,124		1,212
	Other revenues and fees		1,624		-		-		1,624
	Total revenues		25,480		-		-6,450		19,030
	Expenses:
	Compensation and benefits		7,221		-		-		7,221
	Performance fee compensation		112		-		-		112
	Consolidated Funds expenses		-		2,119		-1,326		793
	General, administrative and other expenses		4,507		-		-		4,507
	Total expenses		11,840		2,119		-1,326		12,633
	Other income (expense):
	Dividend income		222		-		-		222
	Interest expense		-2,085		-		-		-2,085
	Other income (expenses), net		-262		-		-121		-383
	Interest and other income of Consolidated Funds		-		18,727		-		18,727
	Interest expense of Consolidated Funds		-		-3,804		-		-3,804
	Net realized gain (loss) on investments of Consolidated Funds		-		952		-		952
	Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		-		4,022		-		4,022
	Net change in unrealized depreciation (appreciation) on secured borrowings of Consolidated Funds		-		-416		-		-416
	Total other income (expense), net		-2,125		19,481		-121		17,235
	Income before income taxes		11,515		17,362		-5,245		23,632
	Provision for income taxes		1,148		542		-		1,690
	Net income		10,367		16,820		-5,245		21,942
	Net income attributable to non-controlling interests in Consolidated Funds		-		-		11,575		11,575
	Net income attributable to non-controlling interests in consolidated subsidiaries		1,290		-		-		1,290
	Net income attributable to non-controlling interests in Medley LLC		7,803		-		-		7,803
	Net income attributable to Medley Management Inc.	$	1,274	$	16,820	$	-16,820	$	1,274
		As of March 31, 2015
		(unaudited)
				Consolidated
		Standalone		Funds		Eliminations		Consolidated
		(Amounts in thousands)
	Assets
	Cash and cash equivalents	$	71,834	$	-	$	-	$	71,834
	Investments, at fair value		27,588		-		-16,049		11,539
	Management fees receivable		15,024		-		-		15,024
	Performance fees receivable		6,785		-		-		6,785
	Other assets		9,338		-		-254		9,084
	Assets of Consolidated Funds:
	Cash and cash equivalents		-		77,725		-		77,725
	Investments, at fair value		-		735,623		-		735,623
	Interest and dividends receivable		-		6,415		-		6,415
	Other assets		-		2,040		-700		1,340
	Total assets	$	130,569	$	821,803	$	-17,003	$	935,369
	Liabilities and equity
	Loans payable	$	102,932	$	-	$	-	$	102,932
	Accounts payable, accrued expenses and other liabilities		20,023		-		-700		19,323
	Performance fee compensation payable		11,377		-		-		11,377
	Liabilities of Consolidated Funds:
	Accounts payable, accrued expenses and other liabilities		-		13,978		-254		13,724
	Secured borrowings		-		136,806		-		136,806
	Total liabilities		134,332		150,784		-954		284,162
	Equity
	Class A Common Stock		60		-		-		60
	Class B Common Stock		-		-		-		-
Capital deficit		-1,606		-		-		-1,606
Retained earnings		180		-		-		180
Total stockholders' deficit, Medley Management Inc.		-1,366		-		-		-1,366
Non-controlling interests in Consolidated Funds		-		-		654,970		654,970
Non-controlling interests in consolidated subsidiaries		2,816		-		-		2,816
Non-controlling interests in Medley LLC		-5,213		-		-		-5,213
Members' equity of consolidated funds		-		671,019		-671,019		-
Total (deficit) equity		-3,763		671,019		-16,049		651,207
Total liabilities and equity	$	130,569	$	821,803	$	-17,003	$	935,369
	For the Three Months Ended March 31, 2014
	(unaudited)
			Consolidated
	Standalone		Funds		Eliminations		Consolidated
	(Amounts in thousands)
Revenues:
Management fees	$	14,991	$	-	$	-1,763	$	13,228
Performance fees		76		-		679		755
Other revenues and fees		2,013		-		-		2,013
Total revenues		17,080		-		-1,084		15,996
Expenses:
Compensation and benefits		3,759		-		-		3,759
Performance fee compensation		1,518		-		-		1,518
Consolidated Funds expenses		-		2,083		-1,763		320
General, administrative and other expenses		4,229		-		-		4,229
Total expenses		9,506		2,083		-1,763		9,826
Other income (expense):
Dividend income		222		-		-		222
Interest expense		-633		-		-		-633
Other income (expenses), net		-1,192		-		261		-931
Interest and other income of Consolidated Funds		-		13,421		-		13,421
Interest expense of Consolidated Funds		-		-1,312		-		-1,312
Net realized gain (loss) on investments of Consolidated Funds		-		1,357		-		1,357
Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		-		-7,813		-		-7,813
Net change in unrealized depreciation (appreciation) on secured borrowings of Consolidated Funds		-		-324		-		-324
Total other income (expense), net		-1,603		5,329		261		3,987
Income before income taxes		5,971		3,246		940		10,157
Provision for income taxes		230		274		-		504
Net income		5,741		2,972		940		9,653
Net income attributable to non-controlling interests in Consolidated Funds		-		-		3,912		3,912
Net income attributable to non-controlling interests in consolidated subsidiaries		-47		-		-		-47
Net income attributable to Medley LLC	$	5,788	$	2,972	$	-2,972	$	5,788
	As of December 31, 2014
			Consolidated
	Standalone		Funds		Eliminations		Consolidated
	(Amounts in thousands)
Assets
Cash and cash equivalents	$	87,206	$	-	$	-	$	87,206
Investments, at fair value		22,143		-		-12,242		9,901
Management fees receivable		15,173		-		-		15,173
Performance fees receivable		5,573		-		-		5,573
Other assets		9,230		-		-		9,230
Assets of Consolidated Funds:
Cash and cash equivalents		-		38,111		-		38,111
Investments, at fair value		-		734,870		-		734,870
Interest and dividends receivable		-		6,654		-		6,654
Other assets		-		5,057		-1,376		3,681
Total assets	$	139,325	$	784,692	$	-13,618	$	910,399
Liabilities and equity
Loans payable	$	103,057	$	-	$	-	$	103,057
Accounts payable, accrued expenses and other liabilities		28,959		-		-1,376		27,583
Performance fee compensation payable		11,807		-		-		11,807
Liabilities of Consolidated Funds:
Accounts payable, accrued expenses and other liabilities		-		5,767		-		5,767
Secured borrowings		-		141,135		-		141,135
Total liabilities		143,823		146,902		-1,376		289,349
Equity
Class A Common Stock		60		-		-		60
Class B Common Stock		-		-		-		-
Capital deficit		-2,384		-		-		-2,384
Retained earnings		272		-		-		272
Total stockholders' deficit, Medley Management Inc.		-2,052		-		-		-2,052
Non-controlling interests in Consolidated Funds		-		-		625,548		625,548
Non-controlling interests in consolidated subsidiaries		1,526		-		-		1,526
Non-controlling interests in Medley LLC		-3,972		-		-		-3,972
Members' equity of consolidated funds		-		637,790		-637,790		-
Total (deficit) equity		-4,498		637,790		-12,242		621,050
Total liabilities and equity	$	139,325	$	784,692	$	-13,618	$	910,399

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation
	In accordance with Accounting Standards Codification (“ASC”) 810, Consolidation, the Company consolidates those entities where it has a direct and indirect controlling financial interest based on either a variable interest model or voting interest model. As such, the Company consolidates entities that the Company concludes are variable interest entities (“VIEs”), for which the Company is deemed to be the primary beneficiary and entities in which it holds a majority voting interest or has majority ownership and control over the operational, financial and investing decisions of that entity.
	An entity in which the Company holds a variable interest is a VIE if any one of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the legal entity to finance its activities without additional subordinated financial support, (b) the holders of equity investment at risk (as a group) lack either the direct or indirect ability through voting rights or similar rights to make decisions about a legal entity’s activities that have a significant effect on the success of the legal entity or the obligation to absorb the expected losses or right to receive the expected residual returns or (c) the voting rights of some investors are disproportionate to their obligation to absorb the expected losses of the legal entity, their rights to receive the expected residual returns of the legal entity, or both, and substantially all of the legal entity’s activities either involve or are conducted on behalf of an investor with disproportionately few voting rights. Entities that do not qualify as VIEs are generally assessed for consolidation under the voting interest model.
	For those entities that qualify as a VIE, the Company performs an analysis to determine if it is the primary beneficiary. With respect to certain VIEs that qualify for accounting treatment under Accounting Standard Update (“ASU”) 2010-10, the Company determines that it is the primary beneficiary only if its involvement, through holding interests directly or indirectly in the VIE or contractually through other variable interests (e.g., carried interest and management fees), would be expected to absorb a majority of the VIE’s expected losses, receive a majority of the VIE’s expected residual returns, or both. In order to qualify for this accounting treatment, certain conditions have to be met, including if the entities have all the attributes of an investment company and are not securitization or asset-backed financing entities. For all other entities, the Company determines that it is the primary beneficiary if it holds a controlling financial interest defined as possessing both (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 or the right to receive benefits from the VIE that could potentially be significant to the VIE. The Company determines whether it is the primary beneficiary of a VIE at the time it becomes initially involved with the VIE and reconsiders that conclusion continuously. In making its assessment the Company takes into consideration all fee and substantive arrangements, terms and transactions that may exist. The assessment of whether an entity is a VIE and the determination of whether the Company should consolidate such VIE requires judgments and is dependent on the particular facts and circumstances. Each entity is assessed for consolidation on a case-by-case basis.
	For those entities evaluated under the voting interest model, the Company consolidates those entities it controls through a majority voting interest or through other means whereby the Company is the general partner and is presumed to have control. The Company would not consolidate an entity in which the presumption of control by the general partner has been overcome through either the granting of substantive rights to the unaffiliated investors to either dissolve the entity or remove the general partner (“kick-out-rights”) or the granting of substantive participating rights.
Consolidated Variable Interest Entities	Consolidated Variable Interest Entities
	Medley Management Inc. is the sole managing member of Medley LLC and, as such, it operates and controls all of the business and affairs of Medley LLC and, through Medley LLC, conducts its business. Under ASC 810, Medley LLC meets the definition of a variable interest entity because the equity of Medley LLC is not sufficient to permit activities without additional subordinated financial support. Since Medley Management Inc. has the obligation to absorb expected losses that could be significant to Medley LLC and holds 100% of the voting power, Medley Management Inc. is considered to be the primary beneficiary of Medley LLC.
	As a result, Medley Management Inc. consolidates the financial results of Medley LLC and its subsidiaries and records a non-controlling interest for the economic interest in Medley LLC held by the non-managing members. Medley Management Inc.’s and the non-managing members’ economic interests in Medley LLC is 20.5% and 79.5%, respectively, as of March 31, 2015 and December 31, 2014. Net income attributable to the non-controlling interest in Medley LLC on the consolidated statements of operations represents the portion of earnings attributable to the economic interest in Medley LLC held by its non-managing members. Non-controlling interests in Medley LLC on the consolidated balance sheets represents the portion of net assets of Medley LLC attributable to the non-managing members based on total LLC Units of Medley LLC owned by such non-managing members.
	Medley LLC has one majority owned subsidiary, SIC Advisors LLC, that is a consolidated VIE. This entity was organized as a limited liability company and was legally formed to manage a designated fund and to isolate business risk. As of March 31, 2015 and December 31, 2014, total assets, after eliminating entries, of this VIE reflected in the consolidated balance sheets were $18.6 million and $18.0 million, respectively. Total liabilities, after eliminating entries, of this VIE were $18.7 million and $19.6 million as of March 31, 2015 and December 31, 2014, respectively. Except to the extent of the assets of this VIE that are consolidated, the holders of the consolidated VIE’s liabilities generally do not have recourse to the Company.
Consolidated Funds	Consolidated Funds
	With respect to the Consolidated Funds, which represent limited partnerships, Medley LLC earns a fixed management fee based on either (i) limited partners’ capital commitments to the funds, (ii) invested capital, (iii) net asset value (“NAV”), or (iv) lower of cost or market value of a fund’s portfolio investments. In addition, Medley earns a performance fee based upon the investment returns in excess of a stated hurdle rate. The Company considered the accounting treatment under ASU 2010-10 as all the respective conditions have been met and determined that the funds were not VIEs. However, as the general partner, and due to the lack of substantive kick out or participating rights of the limited partners, these funds have been consolidated under the voting interest model in accordance with ASC 810-20, Control of Partnerships and Similar Entities.
	In December 2014, the Company formed the Medley Opportunity Fund III LP (MOF III), which is structured as a limited partnership.  One of the Company’s wholly owned subsidiaries is the general partner and investment manager of MOF III. The Company considered the accounting treatment under ASU 2010-10 as all the respective conditions have been met and determined that MOF III was not a VIE. However, as the general partner, and due to the lack of substantive kick out or participating rights of the limited partners, this fund has been consolidated under the voting interest model in accordance with ASC 810-20.
Deconsolidation of a Fund	Deconsolidation of a Fund
	The Company had consolidated the Medley Opportunity Fund LP (MOF I LP) in its consolidated financial statements under the voting interest model in accordance with ASC 810-20, as the Company was the general partner and the limited partners lacked substantive kick out or participating rights. Effective January 1, 2015, the Company completed its role as investment manager of MOF I LP and transitioned the management of the residual assets of this fund to another asset manager. As a result of this transition, the Company deconsolidated the financial statements of this fund, on January 1, 2015. There was no gain or loss recognized upon deconsolidation.
Basis of Accounting	Basis of Accounting
	Management has determined that the Company’s Consolidated Funds are investment companies under U.S. GAAP for the purposes of financial reporting. U.S. GAAP requires that investments held by an investment company be recorded at fair value and any unrealized appreciation (depreciation) in an investment’s fair value be recognized on a current basis in the consolidated statements of operations. Additionally, the Consolidated Funds do not consolidate their majority-owned and controlled investments in portfolio companies. In the preparation of these consolidated financial statements, the Company has retained the specialized accounting guidance for the Consolidated Funds under U.S. GAAP. As such, all of the investments held by the Consolidated Funds are presented at their estimated fair values in the Company’s condensed consolidated balance sheets. Interest income of the Consolidated Funds is included in interest and other income of Consolidated Funds in the Company’s consolidated statements of operations.
Concentrations of Credit Risk	Concentrations of Credit and Market Risk
	In the normal course of business, the Company encounters significant credit and market risk. Credit risk is the risk of default on investments in debt securities, loans and derivatives that result from a borrower’s or derivative counterparty’s inability or unwillingness to make required or expected payments. Credit risk is increased in situations where the Company is investing in distressed assets or unsecured or subordinate loans or in securities that are a material part of its respective business. Market risk reflects changes in the value of investments due to changes in interest rates, credit spreads or other market factors.
	The Company may make investments outside of the United States. These non-U.S. investments are subject to the same risks associated with U.S. investments, as well as additional risks, such as fluctuations in foreign currency exchange rates, unexpected changes in regulatory requirements, heightened risk of political and economic instability, difficulties in managing the investments, potentially adverse tax consequences, and the burden of complying with a wide variety of foreign laws.
Use of Estimates
	Use of Estimates
	The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Management’s estimates are based on historical experience and other factors, including expectations of future events that management believes to be reasonable under the circumstances. These assumptions and estimates also require management to exercise judgment in the process of applying the Company’s accounting policies. Assumptions and estimates regarding the valuation of investments and their resulting impact on performance fees involve a higher degree of judgment and complexity and these assumptions and estimates may be significant to the consolidated financial statements. Actual results could differ from these estimates and such differences could be material.
Indemnification	Indemnification
	In the normal course of business, the Company enters into contractual agreements that provide general indemnifications against losses, costs, claims and liabilities arising from the performance of individual obligations under such agreements. The Company has not experienced any prior claims or payments pursuant to such agreements. The Company’s individual maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Company that have not yet occurred. However, based on management’s experience, the Company expects the risk of loss to be remote.
Non-Controlling Interests in Consolidated Subsidiaries
	Non-Controlling Interests in Consolidated Entities
	Non-controlling interests in Consolidated Funds and consolidated subsidiaries represent the component of equity in such consolidated entities held by third party investors. These interests are adjusted for general partner allocations and, for funds, by subscriptions and redemptions that occur during the reporting period.
Class A Earnings per Share	Class A Earnings per Share
	The Company computes and presents earnings per share using the two-class method. Under the two-class method, the Company allocates earnings between common stock and participating securities. The two-class method includes an earnings allocation formula that determines earnings per share for each class of common stock according to dividends declared and undistributed earnings for the period. For purposes of calculating earnings per share, the Company reduces its reported net earnings by the amount allocated to participating securities to arrive at the earnings allocated to Class A common stockholders. Earnings is then divided by the weighted average number of Class A common stock outstanding to arrive at basic earnings per share. Diluted earnings per share reflects the potential dilution beyond shares for basic earnings per share that could occur if securities or other contracts to issue common stock were exercised, converted into common stock, or resulted in the issuance of common stock that would have shared in our earnings. Participating securities consist of the Company’s unvested restricted stock units that contain non-forfeitable rights to dividends or dividend equivalents, whether paid or unpaid, in the number of shares outstanding in its basic and diluted calculations.
Investments
	Investments
	Investments include equity method investments that are not consolidated but in which the Company exerts significant influence, and investments held by the Consolidated Funds. Medley measures the fair value of the equity method investments that do not have a readily determinable fair value at net asset value or market value. Unrealized appreciation (depreciation) resulting from changes in fair value of the equity method investees is reflected as a component of other income (expense) in the condensed consolidated statements of operations.
	The Consolidated Funds reflect their investments at fair value with unrealized appreciation (depreciation) resulting from changes in fair value reflected as a component of net change in unrealized depreciation on investments of Consolidated Funds in the condensed consolidated statements of operations. Fair value is the amount that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date (i.e., the exit price).
Fair Value Measurements	Fair Value Measurements
	The Consolidated Funds apply fair value accounting to all of their financial instruments in accordance with ASC 820, Fair Value Measurements and Disclosures. ASC 820 defines fair value, establishes a framework used to measure fair value and requires disclosures for fair value measurements. In accordance with ASC 820, the Consolidated Funds have categorized their financial instruments carried at fair value, based on the priority of the valuation technique, into a three-level fair value hierarchy as discussed in Note 4. Fair value is a market-based measure considered from the perspective of the market participant who holds the financial instrument rather than an entity specific measure. Therefore, when market assumptions are not readily available, the Consolidated Funds’ own assumptions are set to reflect those that management believes market participants would use in pricing the financial instrument at the measurement date.
	Investments for which market quotations are readily available are valued at such market quotations, which are generally obtained from an independent pricing service or multiple broker-dealers or market makers. The Company weights the use of third-party broker quotes, if any, in determining fair value based on the Company’s understanding of the level of actual transactions used by the broker to develop the quote and whether the quote was an indicative price or binding offer. However, debt investments with remaining maturities within 60 days that are not credit impaired are valued at cost plus accreted discount, or minus amortized premium, which approximates fair value. Investments for which market quotations are not readily available are valued at fair value as determined by the Company based upon inputs by third-party valuation firms. Because these investments are illiquid and because there may not be any directly comparable companies whose financial instruments have observable market values, these loans are valued using a fundamental valuation methodology, consistent with traditional asset pricing standards, that is objective and consistently applied across all loans and through time.
	The Consolidated Funds use third-party valuation firms to assist in the valuation of its portfolio investments. The valuation reports generated by the third-party valuation firms consider the evaluation of financing and sale transactions with third parties, expected cash flows and market-based information, including comparable transactions, performance multiples, and movement in yields of debt instruments, among other factors. Based on market data obtained from the third-party valuation firms, the Consolidated Funds use a market yield analysis under the income approach or an enterprise model of valuation under the market approach, or a combination thereof. In applying the market yield analysis, the value of the Consolidated Funds’ loans is determined based upon inputs such as the coupon rate, current market yield, interest rate spreads of similar securities, the stated value of the loan, and the length to maturity. In applying the enterprise model, the Consolidated Funds use a waterfall analysis that takes into account the specific capital structure of the borrower and the related seniority of the instruments within the borrower’s capital structure. To estimate the enterprise value of the portfolio company, some or all of the traditional market valuation methods and factors are weighed based on the individual circumstances of the portfolio company in order to estimate the enterprise value.
	The methodologies and information that the Company utilizes when applying the Market Approach for performing investments includes, among other things:
		·	valuations of comparable public companies (Guideline Comparable approach);
		·	recent sales of private and public comparable companies (Guideline Comparable approach);
		·	recent acquisition prices of the company, debt securities or equity securities (Acquisition Price Approach);
		·	external valuations of the portfolio company, offers from third parties to buy the company (Estimated Sales Proceeds approach);
		·	subsequent sales made by the company of its investments (Expected Sales Proceeds approach); and
		·	estimating the value to potential buyers.
	The methodologies and information that the Company utilizes when applying the Income Approach for performing investments includes:
		·	discounting the forecasted cash flows of the portfolio company or securities (Discounted Cash Flow “DCF” approach); and
		·	Black-Scholes model or simulation models or a combination thereof (Income Approach – Option Model) with respect to the valuation of warrants.
	For non-performing investments, the Company may estimate the liquidation or collateral value of the portfolio company’s assets and liabilities using an expected recovery model (Income Approach – Expected Recovery Analysis or Estimated Liquidation Proceeds).
	A multi-step valuation process is undertaken each quarter when valuing portfolio investments for which market quotations are not readily available, as described below:
		·	The quarterly valuation process begins with each portfolio investment being initially valued by the Company’s internal valuation team;
		·	An independent valuation firm engaged by the Consolidated Funds prepares an independent valuation report for approximately one-third of the portfolio investments each quarter on a rotating quarterly basis on non-fiscal year-end quarters, such that each of these investments will be valued by independent valuation firms at least twice per annum when combined with the fiscal year-end review of all the investments by independent valuation firms; and
		·	Preliminary valuation conclusions are then documented and discussed with senior management.
	Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the fair value of the Consolidated Funds’ investments may differ significantly from the values that would have been used had a readily available market value existed for such investments, and the differences could be material.
Revenues
	Revenues
	Management Fees
	Medley provides investment management services to both public and private investment vehicles. Management fees include both base management fees, other management fees, and Part I incentive fees, as described below.
	Base management fees are calculated based on either (i) the average or ending gross assets balance for the relevant period, (ii) limited partners’ capital commitments to the funds, (iii) invested capital, (iv) the net asset value or (v) lower of cost or market value of a fund’s portfolio investments. For the private funds, Medley receives base management fees during a specified period of time, which is generally ten years from the initial closing date. However, such termination date may be earlier in certain limited circumstances or later if extended for successive one-year periods, typically up to a maximum of two years. Depending upon the contracted terms of the investment management agreement, management fees are paid either quarterly in advance or quarterly in arrears, and are recognized as earned over the period the services are provided.
	Certain management agreements provide for Medley to receive other management fee revenue derived from up front origination fees paid by the portfolio companies of the Consolidated Funds, as well as separately managed accounts. These fees are recognized when Medley becomes entitled to such fees.
	Certain management agreements also provide for Medley to receive Part I incentive fee revenue derived from net interest income (excluding gains and losses) above a hurdle rate. These fees are not subject to repayment, clawbacks or netting against realized losses. Part I incentive fees are paid quarterly and are recognized as earned over the period the services are provided.
	Performance Fees
	Performance fees consist principally of the allocation of profits from certain funds, including separately managed accounts, to which Medley provides management services. Medley is generally entitled to an allocation of income as a performance fee after returning the invested capital plus a specified preferred return as set forth in each respective agreement. Medley recognizes revenues attributable to performance fees based upon the amount that would be due pursuant to the respective agreement at each period end as if the funds were terminated at that date. Accordingly, the amount recognized reflects Medley’s share of the gains and losses of the associated funds’ underlying investments measured at their current fair values. Performance fee revenue may include reversals of previously recognized performance fees due to a decrease in the net income of a particular fund that results in a decrease of cumulative performance fees earned to date. Since fund return hurdles are cumulative, previously recognized performance fees also may be reversed in a period of appreciation that is lower than the particular fund’s hurdle rate. For the three months ended March 31, 2015, the Company reversed $0.1 million of previously recognized performance fees on a standalone and consolidated basis. The Company did not reverse any previously recognized performance fees for the period ended March 31, 2014. Cumulative performance fees recognized through March 31, 2015 were $26.7 million and $6.8 million on a standalone and consolidated basis, respectively.
	Performance fees received in prior periods may be required to be returned by Medley in future periods if the funds’ investment performance declines below certain levels. Each fund is considered separately in this regard and, for a given fund, performance fees can never be negative over the life of a fund. If upon a hypothetical liquidation of a fund’s investments at their then current fair values previously recognized and distributed performance fees would be required to be returned, a liability is established for the potential clawback obligation. As of March 31, 2015, the Company had not received any performance fee distributions, except for tax distributions related to the Company’s allocation of net income, which included an allocation of performance fees. Pursuant to the organizational documents of each respective fund, tax distributions are not subject to clawback. As such, no amounts have been accrued for clawback obligations in the accompanying condensed consolidated financial statements.
	Other Revenues and Fees
	Medley provides administrative services to certain affiliated funds and is reimbursed for direct and allocated expenses incurred in providing such administrative services, as set forth in the respective agreement. These fees are recognized as revenue in the period administrative services are rendered.
	Included in other revenues and fees are reimbursements received by Medley from SIC under its investment advisory agreement. Expenses incurred by Medley under this agreement are recorded within general, administrative, and other expenses in the consolidated statements of operations. For additional information on these reimbursements, refer to Note 10.
Performance Fee Compensation	Performance Fee Compensation
	Medley has issued profit interests in certain subsidiaries to selected employees. These profit-sharing arrangements are accounted for under ASC 710, Compensation — General, which requires compensation expense to be measured at fair value at the grant date and expensed over the vesting period, which is usually the period over which the service is provided. The fair value of the profit interests are re-measured at each balance sheet date and adjusted for changes in estimates of cash flows and vesting percentages. The impact of such changes is recorded in the consolidated statements of operations as an increase or decrease to performance fee compensation.
Stock-based Compensation
	Stock-based Compensation
	The Company accounts for stock-based compensation in accordance with ASC 718, Compensation – Stock Compensation. Under the fair value recognition provision of this guidance, share-based compensation cost is measured at the grant date based on the fair value of the award and is recognized as expense over the requisite service period.
	Stock-based compensation expense recognized for the year ended December 31, 2014 is based on awards ultimately expected to vest and have been reduced for estimated forfeitures. ASC 718 requires forfeitures to be estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The effect of such change in estimated forfeitures is recognized through a cumulative catch-up adjustment that is included in the period of the change in estimate.
	The value of the portion of the award that is ultimately expected to vest on a straight-line basis over the requisite service period is included within compensation and benefits on the Company’s condensed consolidated statements of operations.
Income Taxes	Income Taxes
	The Company accounts for income taxes using the asset and liability approach, which requires the recognition of tax benefits or expenses for temporary differences between the financial reporting and tax basis of assets and liabilities. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company also recognizes a tax benefit from uncertain tax positions only if it is “more likely than not” that the position is sustainable based on its technical merits. The Company’s policy is to recognize interest and penalties on uncertain tax positions and other tax matters as a component of income tax expense. For interim periods, the Company accounts for income taxes based on its estimate of the effective tax rate for the year. Discrete items and changes in its estimate of the annual effective tax rate are recorded in the period they occur.
	Prior to the Company’s Reorganization and IPO, no provision was made for U.S. federal income taxes in the accompanying condensed consolidated financial statements since the Company was a group of pass-through entities for U.S. and state income tax purposes and its profits and losses were allocated to the partners who are individually responsible for reporting such amounts. A provision for income taxes was made for certain entities that were subject to New York City’s unincorporated business tax.
	Following the IPO, Medley LLC and its subsidiaries continue to operate as pass-through entities for U.S. income tax purposes. Accordingly, these entities in some cases continue to be subject to New York City’s unincorporated business tax. Medley Management Inc. is subject to U.S. federal, state and local corporate income taxes, which are reflected in the Company’s consolidated financial statements.
Secured Borrowings of Consolidated Funds
	Secured Borrowings of Consolidated Funds
	The Consolidated Funds follow the guidance in ASC 860, Transfers and Servicing, when accounting for loan participations and other partial loan sales. Such guidance provides accounting and reporting standards for transfers and servicing of financial assets and requires a participation or other partial loan sale to meet the definition of a “participating interest,” as defined in the guidance. Under ASC 860, the Company applies a control-oriented approach to participating interests whereby control is considered to have been surrendered only if (i) the transferred financial assets have been isolated from the transferor, (ii) the transferee has the right to pledge or exchange the transferred financial assets it received, and (iii) the transferor, its consolidated affiliates in the financial statements being presented, or its agents do not maintain effective control over the transferred financial assets. Participations or other partial loan sales which do not meet all of these conditions remain on the Company’s condensed consolidated balance sheets and the proceeds are recorded as a secured borrowing until the definition is met. Secured borrowings are carried at fair value to correspond with the related investments, which are carried at fair value.
	For these participations or partial loan sales accounted for as secured borrowings, the interest income earned on the entire loan balance is recorded within interest and other income of Consolidated Funds and the interest income earned by the buyer in the partial loan sale is recorded as interest expense of Consolidated Funds in the accompanying consolidated statements of operations. Changes in the fair value of secured borrowings of Consolidated Funds are included in net change in unrealized depreciation (appreciation) on secured borrowings in the consolidated statements of operations.
Recent Accounting Pronouncements	Recent Accounting Pronouncements
	In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). This guidance outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The amendments are effective for interim and annual reporting periods beginning after December 15, 2016. The Company is currently evaluating the impact, if any, that this ASU will have on its condensed consolidated financial statements.
	In February 2015, the FASB issued ASU 2015-02, Consolidation – Principal versus Agent Analysis. This guidance requires an entity to evaluate whether it should consolidate certain legal entities. All legal entities are subject to reevaluation under the revised consolidation model. Specifically, the amendments: (i) modify the evaluation of whether limited partnerships and similar legal entities are variable interest entities (VIEs) or voting interest entities; (ii) eliminate the presumption that a general partner should consolidate a limited partnership; (iii) affect the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships; (iv) provide a scope exception from consolidation guidance for reporting entities with interests in legal entities that are required to comply with or operate in accordance with requirements that are similar to those in Rule 2a-7 of the Investment Company Act of 1940 for registered money market funds. This guidance is effective for interim and annual periods beginning after December 15, 2015 and early application is permitted. The Company is currently evaluating the impact, if any, that this ASU will have on its consolidated financial statements.
	In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which requires that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of the related debt liability, consistent with debt discounts. Under current accounting standards, such costs are reflected as an asset on the Company's condensed consolidated balance sheets. While the new guidance is effective for the Company beginning January 1, 2016, early application is permitted. The Company is currently evaluating the impact of adopting this standard on its consolidated balance sheets.
	In May 2015, the FASB issued ASU 2015-07, Fair Value Measurement (Topic 820): Disclosures for Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent).  Under the amendments in this update, investments for which fair value is measured at net asset value per share (or its equivalent) using the practical expedient should not be categorized in the fair value hierarchy. Removing those investments from the fair value hierarchy not only eliminates the diversity in practice resulting from the way in which investments measured at net asset value per share (or its equivalent) with future redemption dates are classified, but also ensures that all investments categorized in the fair value hierarchy are classified using a consistent approach. Investments that calculate net asset value per share (or its equivalent), but for which the practical expedient is not applied will continue to be included in the fair value hierarchy. The amendments in this update are effective for the Company beginning January 1, 2016. The Company is currently evaluating the impact of adopting this standard on its consolidated financial statements.

INVESTMENTS_Tables

INVESTMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Investments [Abstract]
Composition of Investments	The composition of investments is as follows:
		As of
		March 31,		As of
		2015		December 31,
		(unaudited)		2014
		(Amounts in thousands)
	Equity method investments, at fair value	$	11,539	$	9,901
	Investments of Consolidated Funds, at fair value		735,623		734,870
	Total Investments	$	747,162	$	744,771
Investments in Consolidated Funds	The following table presents a summary of the investments held by the Consolidated Funds and as a percentage of total investments of Consolidated Funds.
		Investments of Consolidated Funds
		Fair Value				Percentage
		March 31,				March 31,
		2015		December 31,		2015		December 31,
		(unaudited)		2014		(unaudited)		2014
		(Amounts in thousands)
	Geographic Region/Investment Type/Industry Description:
	North America:
	Senior secured loans and notes:
	Automotive	$	21,710	$	21,937	3.0	%	3.0	%
	Banking, Finance, Insurance and Real Estate		188,471		206,424	25.5	%	28.1	%
	Beverage, Food and Tobacco		14,859		14,934	2.0	%	2.0	%
	Capital Equipment		8,000		-	1.1	%	0.0	%
	Chemicals, Plastics and Rubber		21,144		21,196	2.9	%	2.9	%
	Construction and Building		52,985		53,547	7.2	%	7.3	%
	Consumer goods: Non-durable		34,948		34,687	4.8	%	4.7	%
	Containers, Packaging and Glass		26,411		26,823	3.5	%	3.7	%
	Energy: Oil and Gas		30,333		32,736	4.1	%	4.6	%
	Healthcare and Pharmaceuticals		97,120		81,921	13.2	%	11.1	%
	High Tech Industries		25,532		25,329	3.5	%	3.4	%
	Hotel, Gaming and Leisure		10,403		11,494	1.4	%	1.6	%
	Media: Advertising, Printing and Publishing		-		346	0.0	%	0.0	%
	Metals and Mining		25,525		26,042	3.5	%	3.5	%
	Retail and Commercial Kitchen Appliances		24,715		24,886	3.4	%	3.4	%
	Services: Business		38,928		34,808	5.3	%	4.7	%
	Services: Consumer		43,133		45,545	5.9	%	6.2	%
	Total Senior Secured Loans and Notes, North America (cost of $704,698 and $711,398, respectively)	$	664,217	$	662,655	90.3	%	90.2	%
	South America:
	Senior secured loans and notes:
	Banking, Finance, Insurance and Real Estate	$	-	$	1,029	0.0	%	0.1	%
	Energy: Oil and Gas		-		424	0.0	%	0.1	%
	Total Senior Secured Loans and Notes, South America (cost of $0 and $13,049, respectively)	$	-	$	1,453	0.0	%	0.2	%
	Asia:
	Banking, Finance, Insurance and Real Estate (cost of $0 and $1,373)	$	-	$	1,377	0.0	%	0.2	%
		Investments of Consolidated Funds
		Fair Value				Percentage
		March 31,				March 31,
		2015		December 31,		2015		December 31,
		(unaudited)		2014		(unaudited)		2014
		(Amounts in thousands)
	Geographic Region/Investment Type/Industry Description:
	North America:
	Equity interests in limited liability companies:
	Banking, Finance, Insurance and Real Estate	$	45,336	$	42,338	6.2	%	5.8	%
	Construction and Building		3540		3,297	0.5	%	0.4	%
	Containers, Packaging and Glass		331		320	0.0	%	0.0	%
	Energy: Oil and Gas		-		2,596	0.0	%	0.4	%
	Healthcare and Pharmaceuticals		447		63	0.1	%	0.0	%
	Telecommunications		-		170	0.0	%	0.0	%
	Total Equity Interest in Limited Liability Companies (cost of $35,993 and $40,944, respectively)	$	49,654	$	48,784	6.8	%	6.6	%
	Equity securities:
	Common Stock (cost of $157 and $8,913 , respectively)	$	53	$	964	0.0	%	0.1	%
	Preferred Stock (cost of $0 and $10,187, respectively)	$	-	$	545	0.0	%	0.1	%
	Warrants:
	Banking, Finance, Insurance and Real Estate	$	10,656	$	10,363	1.4	%	1.4	%
	Construction and Building		154		113	0.0	%	0.0	%
	Containers, Packaging and Glass		615		105	0.1	%	0.0	%
	Energy: Oil and Gas		3,182		1,793	0.4	%	0.3	%
	Healthcare and Pharmaceuticals		6,306		5,137	0.9	%	0.7	%
	Retail		786		893	0.1	%	0.1	%
	Total Warrants (cost of $3,427 and $3,428, respectively)		21,699		18,404	2.9	%	2.5	%
	Total Equity Securities (cost of $3,584 and $22,528, respectively)	$	21,752	$	19,913	2.9	%	2.7	%
	Collectibles (cost of $0 and $1,385)	$	-	$	688	0.0	%	0.1	%
Total Investments of Consolidated Funds (cost of $606,918 and $790,677, respectively)	$	735,623	$	734,870	100.0	%	100.0	%

FAIR_VALUE_MEASUREMENTS_Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Measurements [Abstract]
Fair Value of Investments by Class	The following tables present the fair value measurements of investments, by major class according to the fair value hierarchy:
		As of March 31, 2015
		(unaudited)
		Level I		Level II			Level III			Total
		(Amounts in thousands)
	Assets
	Senior secured loans and notes	$	-	$	-		$	664,217		$	664,217
	Equity interests in LLCs		-		-			49,654			49,654
	Equity securities		-		668			21,084			21,752
	Equity method investments		-		-			11,539			11,539
	Total assets	$	-	$	668		$	746,494		$	747,162
	Secured borrowings of Consolidated Funds	$	-	$	13		$	136,793		$	136,806
		As of December 31, 2014
		Level I		Level II			Level III			Total
		(Amounts in thousands)
	Assets
	Senior secured loans and notes	$	-	$	-		$	664,108		$	664,108
	Equity interests in LLCs		-		-			48,784			48,784
	Equity securities		62		29			19,822			19,913
	Investments in tangible assets		-		-			2,065			2,065
	Equity method investment		-		-			9,901			9,901
	Total assets	$	62	$	29		$	744,680		$	744,771
	Secured borrowings of Consolidated Funds	$	16	$	-		$	141,119		$	141,135
Reconciliation of Level III Investments	The following tables provide a reconciliation of the beginning and ending balances for the Consolidated Funds’ Level III investments and the Company’s investments in its equity method investees:
		As of March 31, 2015
		(unaudited)
		Financial Assets																Liabilities
		Investments of Consolidated Funds																Secured
		Senior								Investment								borrowings
		Secured		Equity						in			Equity					of
		Loans and		Interests in			Equity			Tangible			Method					Consolidated
		Notes		LLCs			Securities			Assets			Investments			Total		Funds
		(Amounts in thousands)
	Balance, beginning of year	$	664,108	$	48,784		$	19,822		$	2,065		$	9,901		$	744,680	$	141,119
	Deconsolidation of MOF I		-8,252		-1,370			-1,417			-2,065			1,768			-11,336		-
	Transfer out of level III		-		-			-105			-			-			-105		-
	Amortization		-2,140		-			-			-			-			-2,140		-
	Paid in-kind interest income		921		18			-			-			-			939		-
	Purchases		51,065		3,032			-			-			-			54,097		-
	Sales and settlements		-43,983		-			-			-			-			-43,983		-
	Realized and unrealized appreciation (depreciation), net		2,498		-810			2,784			-			-130			4,342		-
	Unrealized appreciation (depreciation) on secured borrowings of Consolidated Funds, net		-		-			-			-			-			-		418
	Proceeds (repayments) from secured borrowings, net		-		-			-			-			-			-		-4,744
	Balance, end of period	$	664,217	$	49,654		$	21,084		$	-		$	11,539		$	746,494	$	136,793
	Changes in unrealized (gains) losses included in earnings related to financial assets still held at the reporting date	$	2,068	$	-810		$	2,784		$	-		$	-130		$	3,912	$	420
Summary of Quantitative Inputs and Assumptions
		31-Mar-15						Range						Weighted
	Assets	(unaudited)		Valuation Technique(s)		Unobservable input		Minimum			Maximum			Average
		(Amounts in thousands)
	Senior Secured Loans and Notes	$	573,254	Income Approach (DCF)		Market Yield			9.55%			15.05%			11.90%
			40,115	Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
			21,360	Income Approach (DCF)		Discount Rate			14.50%			18.00%			16.66%
			17,699	Market Approach (Guideline Comparable)		2015 EBITDA Multiple			5.50x			6.00x			5.75x
			10,411	Market Approach (Guideline Comparable)		LTM and 2015 EBITDA Multiple			4.50x			5.50x			5.25x
			1,378	Enterprise Valuation Analysis		EBITDA Multiple/Estimated Liquidation Proceeds			2.00x / $205.8M			2.00x / $205.8M			2.00x / $205.8M
	Equity Interests in LLCs		6,029	Market Approach (Guideline Comparable)		Investment Portfolio Multiple			1.10x			1.10x			1.10x
			9,617	Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
			331	Market Approach (Guideline Comparable)		LTM and 2015 EBITDA Multiple			7.50x / 7.50x			8.50x / 8.50x			8.50x / 8.50x
			2,919	Market Approach (Guideline Comparable)		LTM and NTM EBITDA Multiple			6.00x / 5.50x			7.00x / 6.50x			6.50x / 6.00x
			-	Market Approach (Guideline Comparable)		LTM and NTM EBITDA Multiple/Volatility			3.50x / 4.00x / 40.40%			4.00x / 4.00x / 72.40%			3.75x / 3.75x / 70.00%
			622	Income Approach (DCF)		Market Yield			12.23%			12.23%			12.23%
			15,136	Income Approach (DCF)		Discount Rate			14.50%			18.00%			18.00%
			15,000	Income Approach (DCF)		Discount Rate			10.00%			10.00%			10.00%
			-	Market Approach (Guideline Comparable)		LTM and 2015 EBITDA Multiple			4.50x / 4.50x			5.50x / 5.50x			5.25x / 5.25x
	Equity Securities		4,700	Market Approach (Guideline Comparable)		LTM EBITDA Multiple			4.50x			5.50x			4.50x
			-	Market Approach (Guideline Comparable)		2015 EBITDA Multiple			5.50x			6.00x			5.75x
			5,727	Market Approach (Guideline Comparable)		LTM and NTM EBITDA Multiple			4.00x / 3.50x			8.50x / 8.00x			5.66x / 5.23x
			-	Enterprise Valuation Analysis		EBITDA Multiple/Estimated Liquidation Proceeds			2.00x / $205.8M			2.00x / $205.8M			2.00x / $205.8M
			10,657	Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
	Equity Method Investments		11,539	Net Asset Value of Underlying Fund		N/A			N/A			N/A			N/A
		$	746,494
		Fair Value as of
		31-Mar-15						Range						Weighted
	Liability	(unaudited)		Valuation Technique(s)		Unobservable input		Minimum			Maximum			Average
		(Amounts in thousands)
	Secured borrowings of Consolidated Funds	$	311	Market Approach (Guideline Comparable)		LTM and NTM EBITDA Multiple			7.50x / 7.00x			8.50x / 8.00x			8.50x / 8.00x
			5,000	Income Approach (DCF)		Discount Rate			10.00%			10.00%			10.00%
			6,637	Market Approach (Guideline Comparable)		2015 EBITDA Multiple			5.50x			6.00x			5.75x
			119,857	Income Approach (DCF)		Market Yield			9.63%			13.50%			11.31%
			4,988	Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
		$	136,793
		Fair Value as of						Range						Weighted
	Assets	31-Dec-14		Valuation Technique(s)		Unobservable input		Minimum			Maximum			Average
		(Amounts in thousands)
	Senior Secured Loans and Notes	$	193	Negotiated Sales Proceeds		Expected Sales Proceeds		$	-		$	4,000,000		$	1,932,000
			4,009	Sales Comparison Approach		Price per Acre		$	8,000		$	41,000		$	24,500
						Price per Room		$	43,200		$	71,429		$	57,315
						Price per Unit		$	155,734		$	228,009		$	191,872
			403	Market Approach (Guideline Comparable)		LTM Revenue Multiple			0.60x			0.60x			0.45x
			346	Market Approach (Guideline Comparable)		LTM EBITDA Multiple			3.10x			3.62x			3.60x
			1,167	Market Approach (Guideline Comparable)		LTM EBITDA Multiple			3.10x			5.50x			4.30x
						LTM Revenue Multiple			0.50x			0.65x			0.58x
			1,989	Income Approach (DCF)		Discount Rate			12.0%			35.0%			20.5%
			144	Liquidation Approach		Asset Coverage		$	144,531		$	144,531		$	144,531
			566,010	Income approach		Market Yield			10.00%			15.21%			12.45%
			37,600	Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
			21,005	Income approach		Discount Rate			14.00%			18.00%			16.45%
			15,859	Market Approach (Guideline Comparable)		EBITDA Multiple			5.50x			6.00x			5.75x
			5,095	Enterprise Valuation Analysis		EBITDA Multiple			6.00x			7.00x			7.00x
			8,910	Market Approach (Guideline Comparable)		Rev Multiple / EBITDA Multiple			0.43x / 4.09x			0.43x / 4.09x			0.43x / 4.09x
			1,378	Enterprise Valuation Analysis		EBITDA Multiple/Estimated Liquidation Proceeds			2.00x / $205.8M			2.00x / $205.8M			2.00x / $205.8M
	Equity Interests in LLCs		1,370	Market Approach		Unsolicited Offer Price		$	12,000,000		$	12,000,000		$	12,000,000
			5,623	Market Approach (Guideline Comparable)		Investment Portfolio Multiple			1.10x			1.10x			1.10x
			3,099	Market Approach (Guideline Comparable)		EBITDA Multiple			6.25x			8.50x			6.70x
			2,595	Market Approach (Guideline Comparable)		EBITDA Multiple / Volatility			3.75x / 50%			3.75x / 50%			3.75x / 50%
			581	Income Approach (DCF)		Market Yield			13.14%			13.14%			13.14%
			14,516	Income Approach (DCF)		Discount Rate			14.00%			18.00%			18.00%
			15,000	Income Approach (DCF)		Capitalization Rate			8.70%			8.70%			8.70%
			6,000	Recent Arms-length transaction		Recent Arms-length transaction			N/A			N/A			N/A
Equity Securities		7,936	Market Approach (Guideline Comparable)		EBITDA Multiple			4.00x			8.31x			5.20x
		10,364	Option Model		Tangible Book Value Multiple / Volatility			1.30x / 41.5%			1.30x / 41.5%			1.30x / 41.5%
		105	Option Model		Volatility			90.80%			90.80%			90.80%
		194	Market Approach (Guideline Comparable)		LTM EBITDARD Multiple			10.40x			11.10x			10.75x
					NTM EBITDARD Multiple			9.50x			10.80x			10.15x
		261	Market Approach (Guideline Comparable)		Revenue Multiple			0.30x			0.60x			0.45x
		417	Income Approach (DCF)		Discount Rate			13.0%			18.0%			16.4%
		545	Market Approach (Guideline Comparable)		LTM EBITDA Multiple			5.00x			5.50x			5.25x
					LTM Revenue Multiple			0.50x			0.65x			0.58x
Tangible Assets		688	Market Approach		Appraisal of assets		$	500,000		$	2,200,000		$	1,350,000
		1,377	Sales Comparison Approach		Price per SQM			1,146			1,274			1,210
Equity Method Investment		9,901	Net Asset Value of Underlying Fund		N/A			N/A			N/A			N/A
	$	744,680
	Fair Value as of						Range						Weighted
Liability	31-Dec-14		Valuation Technique(s)		Unobservable input		Minimum			Maximum			Average
	(Amounts in thousands)
Secured borrowings of Consolidated Funds	$	130,157	Income approach		Market Yield			10.00%			15.21%			12.45%
		5,947	Market Approach (Guideline Comparable)		EBITDA Multiple			5.50x			6.00x			5.75x
		5,000	Income Approach (DCF)		Capitalization Rate			8.70%			8.70%			8.70%
		15	Market Approach (Guideline Comparable)		EBITDA Multiple			4.00x			8.31x			5.20x
	$	141,119

OTHER_ASSETS_Tables

OTHER ASSETS (Tables)	3 Months Ended
	Mar. 31, 2015
Other Asset [Abstract]
Components of Other Assets	The components of other assets are as follows:
		As of
		March 31,		As of
		2015		December 31,
		(unaudited)		2014
		(Amounts in thousands)
	Other Assets of Medley LLC:
	Property and equipment, net of accumulated depreciation of $1,343 and $1,232, respectively	$	1,363	$	1,367
	Security deposits		1,218		1,218
	Administrative fees receivable (Note 10)		1,652		1,500
	Deferred tax assets		953		874
	Deferred financing costs, net of accumulated amortization of $349 and $217, respectively		2,197		2,329
	Due from affiliates (Note 10)		256		382
	Prepaid expenses		468		627
	Other receivables		977		933
	Total other assets of Medley LLC		9,084		9,230
	Other Assets of Consolidated Funds
	Restricted cash		-		3,000
	Deferred tax assets		207		340
	Other receivables		1,133		341
	Total other assets of Consolidated Funds		1,340		3,681
	Total other assets	$	10,424	$	12,911

LOANS_PAYABLE_Tables

LOANS PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2015
Loans Payable [Abstract]
Schedule of Debt	The Company’s loans payable consist of the following:
		As of
		March 31,		As of
		2015		December 31,
		(unaudited)		2014
		(Amounts in thousands)
	Term loans under the Credit Suisse Term Loan Facility, net of unamortized discount of $948 and $1,006, respectively	$	94,052	$	93,994
	Non-recourse promissory notes, net of unamortized discount of $2,370 and $2,500, respectively		8,880		9,063
	Total loans payable	$	102,932	$	103,057
Schedule of Maturities of Long-term Debt	As of March 31, 2015, future principal payments due under the loans payable are as follows (in thousands):
	Remaining 2015	$	937
	2016		312
	2017		2,875
	2018		5,500
	2019		96,626
		$	106,250

ACCOUNTS_PAYABLE_ACCRUED_EXPEN1

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2015
Accounts Payable, Accrued Expenses and Other Liabilities [Abstract]
Components of Accounts Payable, Accrued Expenses, and Other Liabilities	The components of accounts payable, accrued expenses and other liabilities are as follows:
		As of
		March 31,		As of
		2015		December 31,
		(unaudited)		2014
		(Amounts in thousands)
	Accounts payable, accrued expenses and other liabilities of Medley LLC:
	Accrued compensation and benefits	$	2,841	$	8,575
	Due to affiliates (Note 10)		4,120		6,998
	Revenue share payable (Note 9)		6,744		6,669
	Dividends payable		1,366		1,423
	Income taxes payable		742		741
	Professional fees		499		545
	Deferred rent		427		474
	Deferred tax liabilities		517		245
	Accounts payable and accrued expenses		2,067		1,913
	Total accounts payable, accrued expenses and other liabilities of Medley LLC		19,323		27,583
	Accounts payable, accrued expenses and other liabilities of Consolidated Funds		13,724		5,767
	Total accounts payable, accrued expenses and other liabilities	$	33,047	$	33,350

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies [Abstract]
Future Minimum Rental Payments
	Future minimum rental payments under non-cancelable leases are as follows (in thousands):
	Remaining 2015	$	1,831
	2016		784
	2017		452
	2018		457
	2019		463
	Thereafter		469
	Total future minimum lease payments	$	4,456

EARNINGS_PER_CLASS_A_SHARE_Tab

EARNINGS PER CLASS A SHARE (Tables)	3 Months Ended
	Mar. 31, 2015
Earnings Per Class A Share [Abstract]
Basic and Diluted Income per Class A Share	The table below presents basic and diluted net income per Class A share using the two-class method for the three months ended March 31, 2015:
		For the Three Months Ended
		31-Mar-15
		(unaudited)
		(Amounts in thousands,
		except per share amounts)
	Basic and diluted net income per share:
	Numerator
	Net income attributable to Medley Management Inc.	$	1,274
	Less: Dividends declared on Class A common stock (1)		-1,200
	Less: Dividends payable to participating securities (2)		-166
	Less: Overdistributed net income available to participating securities (2)		15
	Undistributed net income available to class A common stockholders	$	-77
	Denominator
	Weighted average shares of Class A shares outstanding, including participating securities		7,142,604
	Less: weighted average of participating securities (2)		-1,142,604
	Weighted average Class A common stock outstanding: Basic		6,000,000
	Weighted average shares of Class A shares outstanding: Diluted		6,000,000
	Add: dilutive effects of conversion of LLC Units (3)		-
	Weighted average dilutive shares outstanding		6,000,000
	Net income per Class A share: Basic and Diluted
	Distributable earnings	$	0.20
	Undistributed income		-0.01
	Net income per Class A share	$	0.19
	(1)The Company declared a $0.20 per share dividend on Class A common stock on March 29, 2015.
	(2)Participating securities relate to the Company’s grant of restricted stock units in connection with its IPO, adjusted for actual forfeitures and additional grants during the period.
	(3)Excludes the assumed conversion of 23,333,333 LLC units to Class A shares as the impact would be antidilutive

COMPENSATION_EXPENSE_Tables

COMPENSATION EXPENSE (Tables)	3 Months Ended
	Mar. 31, 2015
Compensation Expense [Abstract]
Schedule of Nonvested RSU Activity
				Weighted
				Average Grant
		Number of RSUs		Date Fair Value
	Balance at December 31, 2014		1,197,915	$	17.91
	Granted		82,000		12.68
	Forfeited		-168,000		18.00
	Vested		-		-
	Balance at March 31, 2015		1,111,915	$	17.51

SEGMENT_REPORTING_Tables

SEGMENT REPORTING (Tables)	3 Months Ended
	Mar. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following presents the standalone financial results of the Company’s operating results for the three months ended March 31, 2015 and 2014:
		For the Three Months Ended
		March 31,
		(unaudited)
		2015		2014
		(Amounts in thousands)
	Revenues
	Management fees	$	17,520	$	14,991
	Performance fees		6,336		76
	Other revenues and fees		1,624		2,013
	Total revenues		25,480		17,080
	Expenses
	Compensation and benefits		7,221		3,759
	Performance fee compensation		112		1,518
	General, administrative and other expenses		4,507		4,229
	Total expenses		11,840		9,506
	Other income (expense)
	Dividend income		222		222
	Interest expense		-2,085		-633
	Other expenses, net		-262		-1,192
	Total other expense, net		-2,125		-1,603
	Income before income taxes		11,515		5,971
	Provision for income taxes		1,148		230
	Net income		10,367		5,741
	Net income attributable to non-controlling interests in consolidated subsidiaries		1,290		-47
	Net income attributable to Medley Management Inc. and non-controlling interests in Medley LLC	$	9,077	$	5,788
	Reimbursable fund startup expenses (1)		1,923		1,275
	Severance expense (1)		121		6
	IPO date award stock-based compensation (1)		646		-
	Adjustment for pre-IPO guaranteed payments to members (1)(2)		-		-1,226
	Core Net Income	$	11,767	$	5,843
	Interest expense		2,085		633
	Income taxes		1,499		230
	Depreciation and amortization		111		92
	Core EBITDA	$	15,462	$	6,798
	(1)    Presented net of income taxes.
	(2)Represents a pro forma adjustment to reflect guaranteed payments to Medley LLC members as compensation expense. Prior to the Company’s Reorganization and IPO, these payments were recorded as distributions from member’s capital.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following tables reconcile the Company’s segment results to its consolidated results of operations:
		For the Three Months Ended March 31, 2015
		(unaudited)
				Consolidation
				Adjustments
				and
				Reconciling			Consolidated
		Standalone		Items			Results
		(Amounts in thousands)
	Revenues	$	25,480	$	-6,450	-1	$	19,030
	Expenses		11,840		793	-2		12,633
	Other income (expense), net		-2,125		19,360	-3		17,235
	Provision for income taxes		1,148		542	-4		1,690
	Net income attributable to non-controlling interests in consolidated subsidiaries		1,290		-			1,290
	Net income attributable to non-controlling interests in Consolidated Funds		-		11,575			11,575
	Net income attributable to non-controlling interests in Medley LLC		7,803		-			7,803
	Net income attributable to Medley Management Inc.		1,274		-			1,274
	Add: Net income attributable to non-controlling interests in Medley LLC		7,803		-			7,803
	Net income attributable to Medley Management Inc. and non-controlling interests in Medley LLC		9,077		-			9,077
	Reimbursable fund startup expenses		1,923		-			1,923
	Severance expenses		121		-			121
	IPO date award stock-based compensation		646		-			646
	Core Net Income	$	11,767	$	-		$	11,767
		For the Three Months Ended March 31, 2014
		(unaudited)
				Consolidation
				Adjustments
				and
				Reconciling			Consolidated
		Standalone		Items			Results
		(Amounts in thousands)
	Revenues	$	17,080	$	-1,084	-1	$	15,996
	Expenses		9,506		320	-2		9,826
	Other income (expense)		-1,603		5,590	-3		3,987
	Provision for income taxes		230		274	-4		504
	Net income attributable to non-controlling interests in consolidated subsidiaries		-47					-47
	Net income attributable to non-controlling interests in Consolidated Funds		-		3,912			3,912
	Net income attributable to non-controlling interests in Medley LLC		5,788		-			5,788
	Net income attributed to Medley Management Inc.		-		-			-
	Add: Net income attributable to non-controlling interests in Medley LLC		5,788		-			5,788
	Net income attributable to Medley Management Inc. and non-controlling interests in Medley LLC		5,788		-			5,788
	Reimbursable fund startup expenses		1,275		-			1,275
	Severance expenses		6		-			6
	Adjustment for pre-IPO guaranteed payments to members		-1,226		-			-1,226
	Core Net Income	$	5,843	$	-		$	5,843
	(1)Adjustments and reconciling items to revenues represent management and performance fees earned from Consolidated Funds which were eliminated in consolidation. For the three months ended March 31, 2015 and 2014, such adjustments and reconciling items were as follows:
		2015		2014
		(Amounts in thousands)
	Management fees from Consolidated Funds eliminated in consolidation	$	-1,326	$	-1,763
	Performance fees eliminated in consolidation		-5,124		679
	Total consolidated adjustments and reconciling items	$	-6,450	$	-1,084
	(2)Adjustments and reconciling items to expenses represent expenses from Consolidated Funds which were eliminated in consolidation. For the three months ended March 31, 2015 and 2014, such adjustments and reconciling items were as follows:
		2015		2014
		(Amounts in thousands)
	Consolidated Funds Expenses	$	793	$	320
	Total consolidated adjustments and reconciling items	$	793	$	320
	(3)Adjustments and reconciling items to other income primarily represent net interest income and net investment income from Consolidated Funds. For the three months ended March 31, 2015 and 2014, such adjustments and reconciling items were as follows:
		2015		2014
		(Amounts in thousands)
	Interest and other income of Consolidated Funds	$	18,727	$	13,421
	Interest expense on secured borrowings of Consolidated Funds		-3,804		-1,312
	Net realized gain (loss) on investment of Consolidated Funds		952		1,357
	Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		4,022		-7,813
	Net change in unrealized depreciation (appreciation) on secured borrowings of Consolidated Funds		-416		-324
Elimination of equity income (loss) from Consolidated Funds		-121		261
Total consolidated adjustments and reconciling items	$	19,360	$	5,590
(4)Adjustments and reconciling items to the provision for income taxes represent income taxes from Consolidated Funds. For the three months ended March 31, 2015 and 2014, such adjustments and reconciling items were as follows:
	2015		2014
	(Amounts in thousands)
Consolidated Funds provision for income taxes	$	542	$	274
Total consolidated adjustments and reconciling items	$	542	$	274

CONSOLIDATING_SCHEDULES_Tables

CONSOLIDATING SCHEDULES (Tables)	3 Months Ended
	Mar. 31, 2015
Organization and Basis of Presentation [Abstract]
Consolidated Income Statement		For the Three Months Ended March 31, 2015
		(unaudited)
				Consolidated
		Standalone		Funds		Eliminations		Consolidated
		(Amounts in thousands)
	Revenues:
	Management fees	$	17,520	$	-	$	-1,326	$	16,194
	Performance fees		6,336		-		-5,124		1,212
	Other revenues and fees		1,624		-		-		1,624
	Total revenues		25,480		-		-6,450		19,030
	Expenses:
	Compensation and benefits		7,221		-		-		7,221
	Performance fee compensation		112		-		-		112
	Consolidated Funds expenses		-		2,119		-1,326		793
	General, administrative and other expenses		4,507		-		-		4,507
	Total expenses		11,840		2,119		-1,326		12,633
	Other income (expense):
	Dividend income		222		-		-		222
	Interest expense		-2,085		-		-		-2,085
	Other income (expenses), net		-262		-		-121		-383
	Interest and other income of Consolidated Funds		-		18,727		-		18,727
	Interest expense of Consolidated Funds		-		-3,804		-		-3,804
	Net realized gain (loss) on investments of Consolidated Funds		-		952		-		952
	Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		-		4,022		-		4,022
	Net change in unrealized depreciation (appreciation) on secured borrowings of Consolidated Funds		-		-416		-		-416
	Total other income (expense), net		-2,125		19,481		-121		17,235
	Income before income taxes		11,515		17,362		-5,245		23,632
	Provision for income taxes		1,148		542		-		1,690
	Net income		10,367		16,820		-5,245		21,942
	Net income attributable to non-controlling interests in Consolidated Funds		-		-		11,575		11,575
	Net income attributable to non-controlling interests in consolidated subsidiaries		1,290		-		-		1,290
	Net income attributable to non-controlling interests in Medley LLC		7,803		-		-		7,803
	Net income attributable to Medley Management Inc.	$	1,274	$	16,820	$	-16,820	$	1,274
		For the Three Months Ended March 31, 2014
		(unaudited)
				Consolidated
		Standalone		Funds		Eliminations		Consolidated
		(Amounts in thousands)
	Revenues:
	Management fees	$	14,991	$	-	$	-1,763	$	13,228
	Performance fees		76		-		679		755
	Other revenues and fees		2,013		-		-		2,013
	Total revenues		17,080		-		-1,084		15,996
	Expenses:
	Compensation and benefits		3,759		-		-		3,759
	Performance fee compensation		1,518		-		-		1,518
	Consolidated Funds expenses		-		2,083		-1,763		320
	General, administrative and other expenses		4,229		-		-		4,229
	Total expenses		9,506		2,083		-1,763		9,826
	Other income (expense):
	Dividend income		222		-		-		222
	Interest expense		-633		-		-		-633
	Other income (expenses), net		-1,192		-		261		-931
	Interest and other income of Consolidated Funds		-		13,421		-		13,421
	Interest expense of Consolidated Funds		-		-1,312		-		-1,312
	Net realized gain (loss) on investments of Consolidated Funds		-		1,357		-		1,357
	Net change in unrealized appreciation (depreciation) on investments of Consolidated Funds		-		-7,813		-		-7,813
	Net change in unrealized depreciation (appreciation) on secured borrowings of Consolidated Funds		-		-324		-		-324
	Total other income (expense), net		-1,603		5,329		261		3,987
	Income before income taxes		5,971		3,246		940		10,157
	Provision for income taxes		230		274		-		504
	Net income		5,741		2,972		940		9,653
	Net income attributable to non-controlling interests in Consolidated Funds		-		-		3,912		3,912
	Net income attributable to non-controlling interests in consolidated subsidiaries		-47		-		-		-47
Net income attributable to Medley LLC	$	5,788	$	2,972	$	-2,972	$	5,788
Consolidated Balance Sheet		As of March 31, 2015
		(unaudited)
				Consolidated
		Standalone		Funds		Eliminations		Consolidated
		(Amounts in thousands)
	Assets
	Cash and cash equivalents	$	71,834	$	-	$	-	$	71,834
	Investments, at fair value		27,588		-		-16,049		11,539
	Management fees receivable		15,024		-		-		15,024
	Performance fees receivable		6,785		-		-		6,785
	Other assets		9,338		-		-254		9,084
	Assets of Consolidated Funds:
	Cash and cash equivalents		-		77,725		-		77,725
	Investments, at fair value		-		735,623		-		735,623
	Interest and dividends receivable		-		6,415		-		6,415
	Other assets		-		2,040		-700		1,340
	Total assets	$	130,569	$	821,803	$	-17,003	$	935,369
	Liabilities and equity
	Loans payable	$	102,932	$	-	$	-	$	102,932
	Accounts payable, accrued expenses and other liabilities		20,023		-		-700		19,323
	Performance fee compensation payable		11,377		-		-		11,377
	Liabilities of Consolidated Funds:
	Accounts payable, accrued expenses and other liabilities		-		13,978		-254		13,724
	Secured borrowings		-		136,806		-		136,806
	Total liabilities		134,332		150,784		-954		284,162
	Equity
	Class A Common Stock		60		-		-		60
	Class B Common Stock		-		-		-		-
	Capital deficit		-1,606		-		-		-1,606
	Retained earnings		180		-		-		180
	Total stockholders' deficit, Medley Management Inc.		-1,366		-		-		-1,366
	Non-controlling interests in Consolidated Funds		-		-		654,970		654,970
	Non-controlling interests in consolidated subsidiaries		2,816		-		-		2,816
	Non-controlling interests in Medley LLC		-5,213		-		-		-5,213
	Members' equity of consolidated funds		-		671,019		-671,019		-
	Total (deficit) equity		-3,763		671,019		-16,049		651,207
	Total liabilities and equity	$	130,569	$	821,803	$	-17,003	$	935,369
		As of December 31, 2014
				Consolidated
		Standalone		Funds		Eliminations		Consolidated
		(Amounts in thousands)
	Assets
	Cash and cash equivalents	$	87,206	$	-	$	-	$	87,206
	Investments, at fair value		22,143		-		-12,242		9,901
	Management fees receivable		15,173		-		-		15,173
	Performance fees receivable		5,573		-		-		5,573
	Other assets		9,230		-		-		9,230
	Assets of Consolidated Funds:
	Cash and cash equivalents		-		38,111		-		38,111
	Investments, at fair value		-		734,870		-		734,870
	Interest and dividends receivable		-		6,654		-		6,654
	Other assets		-		5,057		-1,376		3,681
	Total assets	$	139,325	$	784,692	$	-13,618	$	910,399
	Liabilities and equity
	Loans payable	$	103,057	$	-	$	-	$	103,057
	Accounts payable, accrued expenses and other liabilities		28,959		-		-1,376		27,583
	Performance fee compensation payable		11,807		-		-		11,807
	Liabilities of Consolidated Funds:
	Accounts payable, accrued expenses and other liabilities		-		5,767		-		5,767
	Secured borrowings		-		141,135		-		141,135
	Total liabilities		143,823		146,902		-1,376		289,349
	Equity
	Class A Common Stock		60		-		-		60
	Class B Common Stock		-		-		-		-
Capital deficit		-2,384		-		-		-2,384
Retained earnings		272		-		-		272
Total stockholders' deficit, Medley Management Inc.		-2,052		-		-		-2,052
Non-controlling interests in Consolidated Funds		-		-		625,548		625,548
Non-controlling interests in consolidated subsidiaries		1,526		-		-		1,526
Non-controlling interests in Medley LLC		-3,972		-		-		-3,972
Members' equity of consolidated funds		-		637,790		-637,790		-
Total (deficit) equity		-4,498		637,790		-12,242		621,050
Total liabilities and equity	$	139,325	$	784,692	$	-13,618	$	910,399

ORGANIZATION_AND_BASIS_OF_PRES1

ORGANIZATION AND BASIS OF PRESENTATION (Narrative) (Details) (USD $)	0 Months Ended	3 Months Ended	0 Months Ended
In Millions, except Share data, unless otherwise specified	Jun. 13, 2014	Mar. 31, 2015	Sep. 29, 2014
Organization And Basis Of Presentation [Line Items]
Date of incorporation	13-Jun-14
Commencement of operations date	29-Sep-14
Transfer of Units to Common Stock, Threshold before Fourth Anniversary		33.33%
Transfer of Units to Common Stock, Threshold before Fifth Anniversary		66.66%
Medley LLC [Member]
Organization And Basis Of Presentation [Line Items]
Conversion of pre-IPO interests to LLC Units, shares		23,333,333
Basis of exchange of LLC Units for Class A shares		exchange their LLC Units for shares of Medley Management Inc.'s Class A common stock on a one-for-one basis
Common Class A [Member]
Organization And Basis Of Presentation [Line Items]
Proceeds from Initial Public Offering, net of underwriting discount			$100.40
Issuance of shares in Initial Public Offering (in shares)			6,000,000
Percentage of common stock owned by LLC personnel for voting rights entitlement, minimum		10.00%
Issuance of Class A shares, offering price per share			$18
Common Class B [Member]
Organization And Basis Of Presentation [Line Items]
Issuance of shares in Initial Public Offering (in shares)			100
Voting rights multiplier upon LLC ownership threshold		10x

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Summary Of Significant Accounting Policies [Line Items]
Percent of voting power in Medley LLC		100.00%
Management fees	$16,194,000		$13,228,000
Fair value of investments	747,162,000	744,771,000
Reversal of performance fee			0
Cumulative performance fees	6,800,000
Remaining maturity period, max	60 days
Secured borrowings	136,806,000	141,135,000
Interest and other income of Consolidated Funds	18,727,000		13,421,000
Net change in unrealized depreciation on investments of Consolidated Funds	4,022,000		-7,813,000
Adjustments for Change in Accounting Principle [Member]
Summary Of Significant Accounting Policies [Line Items]
Interest and other income of Consolidated Funds			1,300,000
Net change in unrealized depreciation on investments of Consolidated Funds			300,000
Net proceeds from secured borrowings			11,800,000
Standalone [Member]
Summary Of Significant Accounting Policies [Line Items]
Management fees	17,520,000		14,991,000
Reversal of performance fee	100,000
Cumulative performance fees	26,700,000
Sierra Income Corporation [Member]
Summary Of Significant Accounting Policies [Line Items]
Total assets of consolidated variable interest entity	18,600,000	18,000,000
Total liabilities of consolidated variable interest entity	$18,700,000	$19,600,000
Medley LLC [Member]
Summary Of Significant Accounting Policies [Line Items]
Parent ownership percentage of LLC		20.50%
Medley LLC [Member] | Non Management [Member]
Summary Of Significant Accounting Policies [Line Items]
Noncontrolling interest ownership percentage of LLC		79.50%

INVESTMENTS_Narrative_Details

INVESTMENTS (Narrative) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Schedule of Investments [Line Items]
Equity method investment, at fair value	$11,539	$9,901
Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment owned, at cost	606,918	790,677
Sierra Income Corporation [Member]
Schedule of Investments [Line Items]
Equity method investment, at fair value	10,000	9,900
Equity Interests in LLCs [Member]
Schedule of Investments [Line Items]
Investment owned, at cost	35,993	40,944
Equity Securities [Member]
Schedule of Investments [Line Items]
Investment owned, at cost	3,584	22,528
Common Stock [Member]
Schedule of Investments [Line Items]
Investment owned, at cost	157	8,913
Preferred Stock [Member]
Schedule of Investments [Line Items]
Investment owned, at cost	0	10,187
Warrant [Member]
Schedule of Investments [Line Items]
Investment owned, at cost	3,427	3,428
Collectibles [Member]
Schedule of Investments [Line Items]
Investment owned, at cost	0
North America [Member] | Senior Secured Loans And Notes [Member]
Schedule of Investments [Line Items]
Investment owned, at cost	704,698	711,398
Asia [Member] | Senior Secured Loans And Notes [Member]
Schedule of Investments [Line Items]
Investment owned, at cost	0
South America [Member] | Senior Secured Loans And Notes [Member]
Schedule of Investments [Line Items]
Investment owned, at cost	$0	$13,049

INVESTMENTS_Composition_of_Inv

INVESTMENTS (Composition of Investments) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Investments [Abstract]
Equity method investment, at fair value	$11,539	$9,901
Investments of Consolidated Funds, at fair value	735,623	734,870
Total Investments	$747,162	$744,771

INVESTMENTS_Investments_in_Con

INVESTMENTS (Investments in Consolidated Funds) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	$735,623	$734,870
Investment Owned, Percent of Net Assets	100.00%	100.00%
Investment Owned, Costs	606,918	790,677
Collectibles [Member]
Schedule of Investments [Line Items]
Investment Owned, Costs	0
Collectibles [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value		688
Investment Owned, Percent of Net Assets	0.00%	0.10%
Equity Interests in LLCs [Member]
Schedule of Investments [Line Items]
Investment Owned, Costs	35,993	40,944
Equity Interests in LLCs [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	49,654	48,784
Investment Owned, Percent of Net Assets	6.80%	6.60%
Equity Interests in LLCs [Member] | Banking, Finance, Insurance and Real Estate [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	45,336	42,338
Investment Owned, Percent of Net Assets	6.20%	5.80%
Equity Interests in LLCs [Member] | Construction and Building [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	3,540	3,297
Investment Owned, Percent of Net Assets	0.50%	0.40%
Equity Interests in LLCs [Member] | Containers, Packaging and Glass [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	331	320
Investment Owned, Percent of Net Assets	0.00%	0.00%
Equity Interests in LLCs [Member] | Energy: Oil and Gas [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value		2,596
Investment Owned, Percent of Net Assets	0.00%	0.40%
Equity Interests in LLCs [Member] | Healthcare and Pharmaceuticals [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	447	63
Investment Owned, Percent of Net Assets	0.10%	0.00%
Equity Interests in LLCs [Member] | Telecommunications [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value		170
Investment Owned, Percent of Net Assets	0.00%	0.00%
Equity Securities [Member]
Schedule of Investments [Line Items]
Investment Owned, Costs	3,584	22,528
Equity Securities [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	21,752	19,913
Investment Owned, Percent of Net Assets	2.90%	2.70%
Common Stock [Member]
Schedule of Investments [Line Items]
Investment Owned, Costs	157	8,913
Common Stock [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	53	964
Investment Owned, Percent of Net Assets	0.00%	0.10%
Preferred Stock [Member]
Schedule of Investments [Line Items]
Investment Owned, Costs	0	10,187
Preferred Stock [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value		545
Investment Owned, Percent of Net Assets	0.00%	0.10%
Warrant [Member]
Schedule of Investments [Line Items]
Investment Owned, Costs	3,427	3,428
Warrant [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	21,699	18,404
Investment Owned, Percent of Net Assets	2.90%	2.50%
Warrant [Member] | Banking, Finance, Insurance and Real Estate [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	10,656	10,363
Investment Owned, Percent of Net Assets	1.40%	1.40%
Warrant [Member] | Construction and Building [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	154	113
Investment Owned, Percent of Net Assets	0.00%	0.00%
Warrant [Member] | Containers, Packaging and Glass [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	615	105
Investment Owned, Percent of Net Assets	0.10%	0.00%
Warrant [Member] | Energy: Oil and Gas [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	3,182	1,793
Investment Owned, Percent of Net Assets	0.40%	0.30%
Warrant [Member] | Healthcare and Pharmaceuticals [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	6,306	5,137
Investment Owned, Percent of Net Assets	0.90%	0.70%
Warrant [Member] | Retail [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	786	893
Investment Owned, Percent of Net Assets	0.10%	0.10%
North America [Member] | Senior Secured Loans And Notes [Member]
Schedule of Investments [Line Items]
Investment Owned, Costs	704,698	711,398
North America [Member] | Senior Secured Loans And Notes [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	664,217	662,655
Investment Owned, Percent of Net Assets	90.30%	90.20%
North America [Member] | Senior Secured Loans And Notes [Member] | Automotive [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	21,710	21,937
Investment Owned, Percent of Net Assets	3.00%	3.00%
North America [Member] | Senior Secured Loans And Notes [Member] | Banking, Finance, Insurance and Real Estate [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	188,471	206,424
Investment Owned, Percent of Net Assets	25.50%	28.10%
North America [Member] | Senior Secured Loans And Notes [Member] | Beverage, Food and Tobacco [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	14,859	14,934
Investment Owned, Percent of Net Assets	2.00%	2.00%
North America [Member] | Senior Secured Loans And Notes [Member] | Capital Equipment [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	8,000
Investment Owned, Percent of Net Assets	1.10%	0.00%
North America [Member] | Senior Secured Loans And Notes [Member] | Chemicals, Plastics and Rubber [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	21,144	21,196
Investment Owned, Percent of Net Assets	2.90%	2.90%
North America [Member] | Senior Secured Loans And Notes [Member] | Construction and Building [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	52,985	53,547
Investment Owned, Percent of Net Assets	7.20%	7.30%
North America [Member] | Senior Secured Loans And Notes [Member] | Consumer goods: Non-durable [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	34,948	34,687
Investment Owned, Percent of Net Assets	4.80%	4.70%
North America [Member] | Senior Secured Loans And Notes [Member] | Containers, Packaging and Glass [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	26,411	26,823
Investment Owned, Percent of Net Assets	3.50%	3.70%
North America [Member] | Senior Secured Loans And Notes [Member] | Energy: Oil and Gas [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	30,333	32,736
Investment Owned, Percent of Net Assets	4.10%	4.60%
North America [Member] | Senior Secured Loans And Notes [Member] | Healthcare and Pharmaceuticals [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	97,120	81,921
Investment Owned, Percent of Net Assets	13.20%	11.10%
North America [Member] | Senior Secured Loans And Notes [Member] | High Tech Industries [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	25,532	25,329
Investment Owned, Percent of Net Assets	3.50%	3.40%
North America [Member] | Senior Secured Loans And Notes [Member] | Hotel, Gaming and Leisure [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	10,403	11,494
Investment Owned, Percent of Net Assets	1.40%	1.60%
North America [Member] | Senior Secured Loans And Notes [Member] | Media: Advertising, Printing and Publishing [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value		346
Investment Owned, Percent of Net Assets	0.00%	0.00%
North America [Member] | Senior Secured Loans And Notes [Member] | Metals and Mining [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	25,525	26,042
Investment Owned, Percent of Net Assets	3.50%	3.50%
North America [Member] | Senior Secured Loans And Notes [Member] | Retail and Commercial Kitchen Appliances [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	24,715	24,886
Investment Owned, Percent of Net Assets	3.40%	3.40%
North America [Member] | Senior Secured Loans And Notes [Member] | Services: Business [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	38,928	34,808
Investment Owned, Percent of Net Assets	5.30%	4.70%
North America [Member] | Senior Secured Loans And Notes [Member] | Services: Consumer [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value	43,133	45,545
Investment Owned, Percent of Net Assets	5.90%	6.20%
South America [Member] | Senior Secured Loans And Notes [Member]
Schedule of Investments [Line Items]
Investment Owned, Costs	0	13,049
South America [Member] | Senior Secured Loans And Notes [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value		1,453
Investment Owned, Percent of Net Assets	0.00%	0.20%
South America [Member] | Senior Secured Loans And Notes [Member] | Banking, Finance, Insurance and Real Estate [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value		1,029
Investment Owned, Percent of Net Assets	0.00%	0.10%
South America [Member] | Senior Secured Loans And Notes [Member] | Energy: Oil and Gas [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value		424
Investment Owned, Percent of Net Assets	0.00%	0.10%
Asia [Member] | Senior Secured Loans And Notes [Member]
Schedule of Investments [Line Items]
Investment Owned, Costs	0
Asia [Member] | Senior Secured Loans And Notes [Member] | Banking, Finance, Insurance and Real Estate [Member] | Consolidated Funds [Member]
Schedule of Investments [Line Items]
Investment Owned, at Fair Value		$1,377
Investment Owned, Percent of Net Assets	0.00%	0.20%

FAIR_VALUE_MEASUREMENTS_Narrat

FAIR VALUE MEASUREMENTS (Narrative) (Details) (Consolidated Funds [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Jan. 31, 2015
Consolidated Funds [Member]
Fair Value, Assets, Level 1 to Level 2 Transfers, Amount		$100
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3	$105

FAIR_VALUE_MEASUREMENTS_Fair_V

FAIR VALUE MEASUREMENTS (Fair Value of Investments by Class) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	$747,162	$744,771
Secured borrowings of Consolidated Funds, at fair value	136,806	141,135
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments		62
Secured borrowings of Consolidated Funds, at fair value		16
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	668	29
Secured borrowings of Consolidated Funds, at fair value	13
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	746,494	744,680
Secured borrowings of Consolidated Funds, at fair value	136,793	141,119
Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	11,539	9,901
Equity Method Investments [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	11,539	9,901
Senior Secured Loans And Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	664,217	664,108
Senior Secured Loans And Notes [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	664,217	664,108
Equity Interest [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	49,654	48,784
Equity Interest [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	49,654	48,784
Equity Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	21,752	19,913
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments		62
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	668	29
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments	21,084	19,822
Investments In Tangible Assets [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments		2,065
Investments In Tangible Assets [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investments		$2,065

FAIR_VALUE_MEASUREMENTS_Reconc

FAIR VALUE MEASUREMENTS (Reconciliation of Level III Investments) (Details) (Consolidated Funds [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Balance, beginning of year	$744,680
Amortization	-2,140
Paid in-kind interest income	939
Purchases	54,097
Sales and settlements	-43,983
Realized and unrealized appreciation (depreciation), net	4,342
Deconsolidation of MOF I	-11,336
Transfer out of level 3	-105
Balance, end of period	746,494
Changes in unrealized (gains) losses included in earnings related to financial assets still held at the reporting date	3,912
Secured Borrowings of Consolidated Funds [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Balance, beginning of year, Liabilities	141,119
Unrealized depreciation on secured borrowings of Consolidated Funds, net	418
Proceeds from secured borrowings, net	-4,744
Balance, end of year, Liabilities	136,793
Changes in unrealized (gains) losses included in earnings related to financial assets still held at the reporting date	420
Equity Method Investments [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Balance, beginning of year	9,901
Realized and unrealized appreciation (depreciation), net	-130
Deconsolidation of MOF I	1,768
Balance, end of period	11,539
Changes in unrealized (gains) losses included in earnings related to financial assets still held at the reporting date	-130
Senior Secured Loans And Notes [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Balance, beginning of year	664,108
Amortization	-2,140
Paid in-kind interest income	921
Purchases	51,065
Sales and settlements	-43,983
Realized and unrealized appreciation (depreciation), net	2,498
Deconsolidation of MOF I	-8,252
Balance, end of period	664,217
Changes in unrealized (gains) losses included in earnings related to financial assets still held at the reporting date	2,068
Equity Interest [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Balance, beginning of year	48,784
Paid in-kind interest income	18
Purchases	3,032
Realized and unrealized appreciation (depreciation), net	-810
Deconsolidation of MOF I	-1,370
Balance, end of period	49,654
Changes in unrealized (gains) losses included in earnings related to financial assets still held at the reporting date	-810
Equity Securities [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Balance, beginning of year	19,822
Realized and unrealized appreciation (depreciation), net	2,784
Deconsolidation of MOF I	-1,417
Transfer out of level 3	-105
Balance, end of period	21,084
Changes in unrealized (gains) losses included in earnings related to financial assets still held at the reporting date	2,784
Investments In Tangible Assets [Member]
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Balance, beginning of year	2,065
Deconsolidation of MOF I	($2,065)

FAIR_VALUE_MEASUREMENTS_Summar

FAIR VALUE MEASUREMENTS (Summary of Quantitative Inputs and Assumptions) (Details) (USD $)	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	747,162,000	744,771,000
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount	136,806,000	141,135,000
Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount		141,119,000
Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount	136,806,000	141,135,000
LTM EBITDA And Revenue Multiples [Member] | Minimum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Revenue Multiple		0.5
LTM EBITDA And Revenue Multiples [Member] | Maximum [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Revenue Multiple		0.65
LTM EBITDA And Revenue Multiples [Member] | Weighted Average [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Revenue Multiple		0.58
Discount Rate [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount	5,000,000
Discount Rate [Member] | Minimum [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	10.00%
Discount Rate [Member] | Maximum [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	10.00%
Discount Rate [Member] | Weighted Average [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	10.00%
Market Yield [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount	119,857,000	130,157,000
Market Yield [Member] | Minimum [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Market yield Rate	9.63%	10.00%
Market Yield [Member] | Maximum [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Market yield Rate	13.50%	15.21%
Market Yield [Member] | Weighted Average [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Market yield Rate	11.31%	12.45%
Recent Arms-length Transaction Input [Member] | Recent Arms-length Transaction [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount	4,988,000
Capitalization Rate [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount		5,000,000
Capitalization Rate [Member] | Minimum [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Capitalization Rate		8.70%
Capitalization Rate [Member] | Maximum [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Capitalization Rate		8.70%
Capitalization Rate [Member] | Weighted Average [Member] | Income Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Capitalization Rate		8.70%
EBITDA Multiple [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount	6,637,000	5,947,000
EBITDA Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	5.5	5.5
EBITDA Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	6	6
EBITDA Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	5.75	5.75
EBITDA, other Multiple [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount		15,000
EBITDA, other Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		4
EBITDA, other Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		8.31
EBITDA, other Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		5.2
LTM and NTM EBITDA Multiple [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount	311,000
LTM and NTM EBITDA Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	7.5
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	7
LTM and NTM EBITDA Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	8.5
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	8
LTM and NTM EBITDA Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	8.5
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	8
Senior Secured Loans And Notes [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	664,217,000	664,108,000
Senior Secured Loans And Notes [Member] | Price per acre [Member] | Minimum [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Acre		8,000
Senior Secured Loans And Notes [Member] | Price per acre [Member] | Maximum [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Acre		41,000
Senior Secured Loans And Notes [Member] | Price per acre [Member] | Weighted Average [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Acre		24,500
Senior Secured Loans And Notes [Member] | Price per room [Member] | Minimum [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Room		43,200
Senior Secured Loans And Notes [Member] | Price per room [Member] | Maximum [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Room		71,429
Senior Secured Loans And Notes [Member] | Price per room [Member] | Weighted Average [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Room		57,315
Senior Secured Loans And Notes [Member] | Price per unit [Member] | Minimum [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Unit		155,734
Senior Secured Loans And Notes [Member] | Price per unit [Member] | Maximum [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Unit		228,009
Senior Secured Loans And Notes [Member] | Price per unit [Member] | Weighted Average [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Unit		191,872
Senior Secured Loans And Notes [Member] | Expected Sales Proceeds [Member] | Maximum [Member] | Negotiated Sales Proceeds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs Expected Proceeds		4,000,000
Senior Secured Loans And Notes [Member] | Expected Sales Proceeds [Member] | Weighted Average [Member] | Negotiated Sales Proceeds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs Expected Proceeds		1,932,000
Senior Secured Loans And Notes [Member] | LTM Revenue Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Revenue Multiple		0.6
Senior Secured Loans And Notes [Member] | LTM Revenue Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Revenue Multiple		0.6
Senior Secured Loans And Notes [Member] | LTM Revenue Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Revenue Multiple		0.45
Senior Secured Loans And Notes [Member] | LTM EBITDA multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple		3.1
Senior Secured Loans And Notes [Member] | LTM EBITDA multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple		3.62
Senior Secured Loans And Notes [Member] | LTM EBITDA multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple		3.6
Senior Secured Loans And Notes [Member] | LTM EBITDA And Revenue Multiples [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple		3.1
Senior Secured Loans And Notes [Member] | LTM EBITDA And Revenue Multiples [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple		5.5
Senior Secured Loans And Notes [Member] | LTM EBITDA And Revenue Multiples [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple		4.3
Senior Secured Loans And Notes [Member] | Discount Rate [Member] | Minimum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	14.50%	12.00%
Senior Secured Loans And Notes [Member] | Discount Rate [Member] | Maximum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	18.00%	35.00%
Senior Secured Loans And Notes [Member] | Discount Rate [Member] | Weighted Average [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	16.66%	20.50%
Senior Secured Loans And Notes [Member] | Discount Rate, Other [Member] | Minimum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate		14.00%
Senior Secured Loans And Notes [Member] | Discount Rate, Other [Member] | Maximum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate		18.00%
Senior Secured Loans And Notes [Member] | Discount Rate, Other [Member] | Weighted Average [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate		16.45%
Senior Secured Loans And Notes [Member] | Asset Coverage [Member] | Minimum [Member] | Liquidation Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Asset coverage		144,531
Senior Secured Loans And Notes [Member] | Asset Coverage [Member] | Maximum [Member] | Liquidation Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Asset coverage		144,531
Senior Secured Loans And Notes [Member] | Asset Coverage [Member] | Weighted Average [Member] | Liquidation Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Asset coverage		144,531
Senior Secured Loans And Notes [Member] | Market Yield [Member] | Minimum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Market yield Rate	9.55%	10.00%
Senior Secured Loans And Notes [Member] | Market Yield [Member] | Maximum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Market yield Rate	15.05%	15.21%
Senior Secured Loans And Notes [Member] | Market Yield [Member] | Weighted Average [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Market yield Rate	11.90%	12.45%
Senior Secured Loans And Notes [Member] | EBITDA Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		5.5
Senior Secured Loans And Notes [Member] | EBITDA Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		6
Senior Secured Loans And Notes [Member] | EBITDA Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		5.75
Senior Secured Loans And Notes [Member] | EBITDA, other Multiple [Member] | Minimum [Member] | Enterprise Valuation Analysis [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		6
Senior Secured Loans And Notes [Member] | EBITDA, other Multiple [Member] | Maximum [Member] | Enterprise Valuation Analysis [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		7
Senior Secured Loans And Notes [Member] | EBITDA, other Multiple [Member] | Weighted Average [Member] | Enterprise Valuation Analysis [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		7
Senior Secured Loans And Notes [Member] | EBITDA Multiple/Estimated Liquidation Proceeds [Member] | Enterprise Valuation Analysis [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	2	2
Fair Value Inputs, Liquidation Proceeds	205,800,000	205,800,000
Senior Secured Loans And Notes [Member] | LTM and 2015 EBITDA Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	4.5
Senior Secured Loans And Notes [Member] | LTM and 2015 EBITDA Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	5.5
Senior Secured Loans And Notes [Member] | LTM and 2015 EBITDA Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	5.25
Senior Secured Loans And Notes [Member] | Rev Multiple/ EBITDA Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		4.09
Fair Value Inputs, Revenue Multiple		0.43
Senior Secured Loans And Notes [Member] | 2015 EBITDA Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	5.5
Senior Secured Loans And Notes [Member] | 2015 EBITDA Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	6
Senior Secured Loans And Notes [Member] | 2015 EBITDA Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	5.75
Equity Interests in LLCs [Member] | Discount Rate [Member] | Minimum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	14.50%	14.00%
Equity Interests in LLCs [Member] | Discount Rate [Member] | Maximum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	18.00%	18.00%
Equity Interests in LLCs [Member] | Discount Rate [Member] | Weighted Average [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	18.00%	18.00%
Equity Interests in LLCs [Member] | Discount Rate, Other [Member] | Minimum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	10.00%
Equity Interests in LLCs [Member] | Discount Rate, Other [Member] | Maximum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	10.00%
Equity Interests in LLCs [Member] | Discount Rate, Other [Member] | Weighted Average [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate	10.00%
Equity Interests in LLCs [Member] | Market Yield [Member] | Minimum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Market yield Rate	12.23%	13.14%
Equity Interests in LLCs [Member] | Market Yield [Member] | Maximum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Market yield Rate	12.23%	13.14%
Equity Interests in LLCs [Member] | Market Yield [Member] | Weighted Average [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Market yield Rate	12.23%	13.14%
Equity Interests in LLCs [Member] | Capitalization Rate [Member] | Minimum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Capitalization Rate		8.70%
Equity Interests in LLCs [Member] | Capitalization Rate [Member] | Maximum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Capitalization Rate		8.70%
Equity Interests in LLCs [Member] | Capitalization Rate [Member] | Weighted Average [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Capitalization Rate		8.70%
Equity Interests in LLCs [Member] | EBITDA Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		6.25
Equity Interests in LLCs [Member] | EBITDA Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		8.5
Equity Interests in LLCs [Member] | EBITDA Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		6.7
Equity Interests in LLCs [Member] | EBITDA Multiple / Volatility [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		3.75
Fair Value Assumptions, Expected Volatility Rate		50.00%
Equity Interests in LLCs [Member] | Investment Portfolio Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Investment Portfolio Multiple	1.1	1.1
Equity Interests in LLCs [Member] | Investment Portfolio Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Investment Portfolio Multiple	1.1	1.1
Equity Interests in LLCs [Member] | Investment Portfolio Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Investment Portfolio Multiple	1.1	1.1
Equity Interests in LLCs [Member] | LTM and NTM EBITDA Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	6
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	5.5
Equity Interests in LLCs [Member] | LTM and NTM EBITDA Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	7
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	6.5
Equity Interests in LLCs [Member] | LTM and NTM EBITDA Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	6.5
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	6
Equity Interests in LLCs [Member] | LTM and 2015 EBITDA Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	7.5
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	7.5
Equity Interests in LLCs [Member] | LTM and 2015 EBITDA Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	8.5
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	8.5
Equity Interests in LLCs [Member] | LTM and 2015 EBITDA Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	8.5
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	8.5
Equity Interests in LLCs [Member] | LTM and 2015 EBITDA Multiple, Other [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	4.5
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	4.5
Equity Interests in LLCs [Member] | LTM and 2015 EBITDA Multiple, Other [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	5.5
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	5.5
Equity Interests in LLCs [Member] | LTM and 2015 EBITDA Multiple, Other [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	5.25
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	5.25
Equity Interests in LLCs [Member] | LTM, NTM EBITDA, and Volatility Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	3.5
Fair Value Assumptions, Expected Volatility Rate	40.40%
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	4
Equity Interests in LLCs [Member] | LTM, NTM EBITDA, and Volatility Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	4
Fair Value Assumptions, Expected Volatility Rate	72.40%
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	4
Equity Interests in LLCs [Member] | LTM, NTM EBITDA, and Volatility Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	3.75
Fair Value Assumptions, Expected Volatility Rate	70.00%
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	3.75
Equity Interests in LLCs [Member] | Unsolicited Offer Price [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Unsolicited Offer Price		12,000,000
Equity Interests in LLCs [Member] | Unsolicited Offer Price [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Unsolicited Offer Price		12,000,000
Equity Interests in LLCs [Member] | Unsolicited Offer Price [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Unsolicited Offer Price		12,000,000
Equity Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	21,752,000	19,913,000
Equity Securities [Member] | LTM Revenue Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Revenue Multiple		0.5
Equity Securities [Member] | LTM Revenue Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Revenue Multiple		0.65
Equity Securities [Member] | LTM Revenue Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Revenue Multiple		0.58
Equity Securities [Member] | LTM EBITDA multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	4.5	5
Equity Securities [Member] | LTM EBITDA multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	5.5	5.5
Equity Securities [Member] | LTM EBITDA multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	4.5	5.25
Equity Securities [Member] | Discount Rate [Member] | Minimum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate		13.00%
Equity Securities [Member] | Discount Rate [Member] | Maximum [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate		18.00%
Equity Securities [Member] | Discount Rate [Member] | Weighted Average [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Discount Rate		16.40%
Equity Securities [Member] | EBITDA Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		4
Equity Securities [Member] | EBITDA Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		8.31
Equity Securities [Member] | EBITDA Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple		5.2
Equity Securities [Member] | EBITDA Multiple/Estimated Liquidation Proceeds [Member] | Enterprise Valuation Analysis [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	2
Fair Value Inputs, Liquidation Proceeds	205.8
Equity Securities [Member] | LTM EBITDARD multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization, Rent And Donation Multiple		10.4
Equity Securities [Member] | LTM EBITDARD multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization, Rent And Donation Multiple		11.1
Equity Securities [Member] | LTM EBITDARD multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization, Rent And Donation Multiple		10.75
Equity Securities [Member] | NTM EBITDARD Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization, Rent And Donation Multiple		9.5
Equity Securities [Member] | NTM EBITDARD Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization, Rent And Donation Multiple		10.8
Equity Securities [Member] | NTM EBITDARD Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization, Rent And Donation Multiple		10.15
Equity Securities [Member] | LTM and NTM EBITDA Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	4
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	3.5
Equity Securities [Member] | LTM and NTM EBITDA Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	8.5
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	8
Equity Securities [Member] | LTM and NTM EBITDA Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Last Twelve Months Earnings before Interest, Taxes, Depreciation, and Amortization Multiple	5.66
Fair Value Inputs, Next Twelve Months Earnings before Interest, Taxes, Depreciation, Amortization Multiple	5.23
Equity Securities [Member] | Volatility [Member] | Minimum [Member] | Option Model [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Assumptions, Expected Volatility Rate		90.80%
Equity Securities [Member] | Volatility [Member] | Maximum [Member] | Option Model [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Assumptions, Expected Volatility Rate		90.80%
Equity Securities [Member] | Volatility [Member] | Weighted Average [Member] | Option Model [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Assumptions, Expected Volatility Rate		90.80%
Equity Securities [Member] | Tangible Book Value Multiple / Volatility [Member] | Option Model [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Tangible Book Value Multiple		1.3
Fair Value Assumptions, Expected Volatility Rate		41.50%
Equity Securities [Member] | Revenue Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Revenue Multiple		0.3
Equity Securities [Member] | Revenue Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Revenue Multiple		0.6
Equity Securities [Member] | Revenue Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Revenue Multiple		0.45
Equity Securities [Member] | 2015 EBITDA Multiple [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	5.5
Equity Securities [Member] | 2015 EBITDA Multiple [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	6
Equity Securities [Member] | 2015 EBITDA Multiple [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, EBITDA Multiple	5.75
Investments In Tangible Assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		2,065,000
Investments In Tangible Assets [Member] | Price per square meter [Member] | Minimum [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Square Meter		1,146
Investments In Tangible Assets [Member] | Price per square meter [Member] | Maximum [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Square Meter		1,274
Investments In Tangible Assets [Member] | Price per square meter [Member] | Weighted Average [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Price Per Square Meter		1,210
Investments In Tangible Assets [Member] | Appraisal of Assets [Member] | Minimum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Appraisal of assets		500,000
Investments In Tangible Assets [Member] | Appraisal of Assets [Member] | Maximum [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Appraisal of assets		2,200,000
Investments In Tangible Assets [Member] | Appraisal of Assets [Member] | Weighted Average [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value Inputs, Appraisal of assets		1,350,000
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	746,494,000	744,680,000
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount	136,793,000	141,119,000
Fair Value, Inputs, Level 3 [Member] | Secured Borrowings of Consolidated Funds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Transfers Accounted for as Secured Borrowings, Associated Liabilities, Carrying Amount	136,793,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	664,217,000	664,108,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | Price per acre [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		4,009,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | Expected Sales Proceeds [Member] | Negotiated Sales Proceeds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		193,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | LTM Revenue Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		403,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | LTM EBITDA multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		346,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | LTM EBITDA And Revenue Multiples [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		1,167,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | Discount Rate [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	21,360,000	1,989,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | Discount Rate, Other [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		21,005,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | Asset Coverage [Member] | Liquidation Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		144,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | Market Yield [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	573,254,000	566,010,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | Recent Arms-length Transaction Input [Member] | Recent Arms-length Transaction [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	40,115,000	37,600,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | EBITDA Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		15,859,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | EBITDA, other Multiple [Member] | Enterprise Valuation Analysis [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		5,095,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | EBITDA Multiple/Estimated Liquidation Proceeds [Member] | Enterprise Valuation Analysis [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	1,378,000	1,378,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | LTM and 2015 EBITDA Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	10,411,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | Rev Multiple/ EBITDA Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		8,910,000
Fair Value, Inputs, Level 3 [Member] | Senior Secured Loans And Notes [Member] | 2015 EBITDA Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	17,699,000
Fair Value, Inputs, Level 3 [Member] | Equity Interests in LLCs [Member] | Discount Rate [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	15,136,000	14,516,000
Fair Value, Inputs, Level 3 [Member] | Equity Interests in LLCs [Member] | Discount Rate, Other [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	15,000,000
Fair Value, Inputs, Level 3 [Member] | Equity Interests in LLCs [Member] | Market Yield [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	622,000	581,000
Fair Value, Inputs, Level 3 [Member] | Equity Interests in LLCs [Member] | Recent Arms-length Transaction Input [Member] | Recent Arms-length Transaction [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	9,617,000	6,000,000
Fair Value, Inputs, Level 3 [Member] | Equity Interests in LLCs [Member] | Capitalization Rate [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		15,000,000
Fair Value, Inputs, Level 3 [Member] | Equity Interests in LLCs [Member] | EBITDA Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		3,099,000
Fair Value, Inputs, Level 3 [Member] | Equity Interests in LLCs [Member] | EBITDA Multiple / Volatility [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		2,595,000
Fair Value, Inputs, Level 3 [Member] | Equity Interests in LLCs [Member] | Investment Portfolio Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	6,029,000	5,623,000
Fair Value, Inputs, Level 3 [Member] | Equity Interests in LLCs [Member] | LTM and NTM EBITDA Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	2,919,000
Fair Value, Inputs, Level 3 [Member] | Equity Interests in LLCs [Member] | LTM and 2015 EBITDA Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	331,000
Fair Value, Inputs, Level 3 [Member] | Equity Interests in LLCs [Member] | Unsolicited Offer Price [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		1,370,000
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	21,084,000	19,822,000
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | LTM EBITDA multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	4,700,000	545,000
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Discount Rate [Member] | Income Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		417,000
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Recent Arms-length Transaction Input [Member] | Recent Arms-length Transaction [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	10,657,000
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | EBITDA Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		7,936,000
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | LTM EBITDARD multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		194,000
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | LTM and NTM EBITDA Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	5,727,000
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Volatility [Member] | Option Model [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		105,000
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Tangible Book Value Multiple / Volatility [Member] | Option Model [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		10,364,000
Fair Value, Inputs, Level 3 [Member] | Equity Securities [Member] | Revenue Multiple [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		261,000
Fair Value, Inputs, Level 3 [Member] | Investments In Tangible Assets [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		2,065,000
Fair Value, Inputs, Level 3 [Member] | Investments In Tangible Assets [Member] | Price per square meter [Member] | Sales Comparison Approach [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		1,377,000
Fair Value, Inputs, Level 3 [Member] | Investments In Tangible Assets [Member] | Appraisal of Assets [Member] | Market Approach Valuation Technique [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure		688,000
Fair Value, Inputs, Level 3 [Member] | Equity Method Investments [Member] | Net Asset Value of Underlying Fund [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Investments, Fair Value Disclosure	11,539,000	9,901,000

OTHER_ASSETS_Narrative_Details

OTHER ASSETS (Narrative) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Other Asset [Abstract]
Property, plant, and equipment, accumulated depreciation	$1,343	$1,232
Deferred finance costs, accumulated amortization	$349	$217

OTHER_ASSETS_Components_of_Oth

OTHER ASSETS (Components of Other Assets) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Other Assets of Medley:
Deferred tax assets	$1,200	$1,200
Total other assets	9,084	9,230
Consolidated Funds [Member]
Other Assets of Medley:
Deferred tax assets	207	340
Restricted cash		3,000
Other receivables	1,133	341
Total other assets	1,340	3,681
Medley And Consolidated Funds [Member]
Other Assets of Medley:
Total other assets	10,424	12,911
Medley LLC [Member]
Other Assets of Medley:
Property and equipment, net of accumulated depreciation	1,363	1,367
Security deposits	1,218	1,218
Administrative fees receivable	1,652	1,500
Deferred tax assets	953	874
Deferred financing costs, net	2,197	2,329
Due from affiliates	256	382
Prepaid expenses	468	627
Other assets	977	933
Total other assets	$9,084	$9,230

LOANS_PAYABLE_Narrative_Detail

LOANS PAYABLE (Narrative) (Details) (USD $)	3 Months Ended		0 Months Ended	1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Aug. 14, 2014	Oct. 31, 2014	Apr. 30, 2012	Dec. 31, 2014
Debt Instrument [Line Items]
Proceeds from issuance of long-term debt		$17,500,000
Repayments of long-term debt	313,000
Partners capital account, distributions	9,044,000
Ratio of indebtedness to net capital	3.5
Long-term Debt	102,932,000					103,057,000
London Interbank Offered Rate L I B O R [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			15,000,000
Line of credit facility, initiation date	14-Aug-14
Debt Instrument, Interest Rate Terms	Borrowings under the Revolving Credit Facility bear interest at the option of the Company, either (i) at an Alternate Base Rate, as defined, plus an applicable margin not to exceed 3.25% or (ii) at an Adjusted LIBOR plus an applicable margin not to exceed 4.0%
CNB Credit Agreement [Member]
Debt Instrument [Line Items]
Repayments of long-term debt	33,200,000
Credit Suisse Term Loan Facility [Member]
Debt Instrument [Line Items]
Debt instrument, issuance date	14-Aug-14
Debt instrument, face amount	110,000,000
Debt instrument, maturity date	15-Jun-19
Proceeds from issuance of long-term debt			108,900,000
Debt instrument, unamortized discount (premium), net	948,000		1,100,000			1,006,000
Repayments of long-term debt				15,000,000
Debt instrument, fee amount	2,600,000
Deferred finance costs, net	2,400,000
Partners capital account, distributions	74,500,000
Debt instrument, interest rate during period	6.50%
Debt instrument, frequency of periodic payment	quarterly installments
Debt instrument, periodic payment, principal	1,400,000
Debt instrument benchmark, aggregate, maximum	33,000,000
Interest expense, debt	1,600,000
Debt Instrument, Interest Rate Terms	Borrowings under the Term Loan Facility bear interest, at the borrower's option, at a rate equal to either a Eurodollar margin over an adjusted LIBOR (with a "floor" of 1.0%) or a base rate margin over an adjusted base rate determined by reference to the highest of (i) the term loan administrative agent's prime rate; (ii) the federal funds effective rate in effect on such day plus 0.5%; and (iii) an adjusted LIBOR plus 1.0%. The applicable margins for the Term Loan Facility are 5.5%, in the case of Eurodollar loans and 4.5%, in the case of adjusted base rate loans
Debt Instrument, Covenant Description	The Term Loan Facility also contains a financial covenant that requires the Company to maintain a Maximum Net Leverage Ratio commencing with the quarter ending on December 31, 2014 of not greater than 3.5 to 1.0
Debt Instrument Additional Borrowing Covenant Description	subject to additional increases, provided that the net leverage ratio as of the last day of any four-fiscal quarter period, commencing with the four-fiscal quarter period ending December 31, 2014, shall not exceed 2.0 to 1.0
Long-term Debt	94,052,000					93,994,000
Credit Suisse Term Loan Facility [Member] | Federal Funds Effective Swap Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Credit Suisse Term Loan Facility [Member] | Eurodollar [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	5.50%
Credit Suisse Term Loan Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	4.50%
Credit Suisse Term Loan Facility [Member] | Term Loan Credit Facility [Member]
Debt Instrument [Line Items]
Ratio of indebtedness to net capital	2
Debt Instrument, Additional Borrowings Capacity	15,000,000
Non-recourse Promissory Notes [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	2,500,000				10,000,000
Debt instrument, unamortized discount (premium), net	2,370,000					2,500,000
Unamortized Debt Issuance Expense					3,800,000
Interest expense, debt	300,000	400,000
Sale of stock, number of shares issued in transaction					1,108,033
Notes payable, fair value disclosure	10,300,000
Debt Instrument, Collateral	Proceeds from the borrowings were used to purchase 1,108,033 shares of common stock of SIC, which were pledged as collateral for the obligations.
Non-recourse Promissory Notes [Member] | CNB Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt	8,880,000					9,063,000
Nonrecourse Promissory Note Zero Interest [Member]
Debt Instrument [Line Items]
Debt instrument, issuance date	31-Mar-14
Debt instrument, face amount	2,500,000
Debt instrument, maturity date	31-Mar-16
Debt instrument, interest rate, effective percentage	0.00%
Debt instrument, periodic payment, principal	312,500
Long-term Debt	$1,300,000					$1,600,000
Non Recourse Promissory Notes Due March 2019 [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	31-Mar-19
Maximum [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate L I B O R [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	4.00%
Maximum [Member] | Revolving Credit Facility [Member] | Alternate Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	3.25%
Maximum [Member] | Credit Suisse Term Loan Facility [Member]
Debt Instrument [Line Items]
Ratio of indebtedness to net capital	3.5
Minimum [Member] | Credit Suisse Term Loan Facility [Member] | London Interbank Offered Rate L I B O R [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%

LOANS_PAYABLE_Schedule_of_Debt

LOANS PAYABLE (Schedule of Debt) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Aug. 14, 2014
In Thousands, unless otherwise specified
Debt Instrument [Line Items]
Long-term Debt	$102,932	$103,057
Credit Suisse Term Loan Facility [Member]
Debt Instrument [Line Items]
Long-term Debt	94,052	93,994
Debt instrument, unamortized discount (premium), net	948	1,006	1,100
Non-recourse Promissory Notes [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount (premium), net	2,370	2,500
Non-recourse Promissory Notes [Member] | CNB Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term Debt	$8,880	$9,063

LOANS_PAYABLE_Schedule_of_Matu

LOANS PAYABLE (Schedule of Maturities of Long-term Debt) (Details) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Loans Payable [Abstract]
Remaining in 2015	$937
2016	312
2017	2,875
2018	5,500
2019	96,626
Long-term debt, gross	$106,250

ACCOUNTS_PAYABLE_ACCRUED_EXPEN2

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Narrative) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, except Per Share data, unless otherwise specified
Accounts payable, accrued expenses and other liabilities of Medley:
Dividends payable	$1,366	$1,423
Dividends payable, amount per share	$0.20
Common Class A [Member]
Accounts payable, accrued expenses and other liabilities of Medley:
Dividends payable	1,200	1,200
Dividends payable, amount per share	$0.20
Restricted Stock Units (RSUs) [Member]
Accounts payable, accrued expenses and other liabilities of Medley:
Dividends payable	$200	$200

ACCOUNTS_PAYABLE_ACCRUED_EXPEN3

ACCOUNTS PAYABLE, ACCRUED EXPENSES AND OTHER LIABILITIES (Components of Accounts Payable, Accrued Expenses, and Other Liabilities) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Accounts payable, accrued expenses and other liabilities of Medley:
Accrued compensation and benefits	$2,841	$8,575
Due to affiliates (Note 9)	4,120	6,998
Revenue share payable (Note 8)	6,744	6,669
Dividends payable	1,366	1,423
Income taxes payable	742	741
Professional fees	499	545
Deferred rent	427	474
Deferred tax liabilities	517	245
Secured borrowings of Consolidated Funds, at fair value	136,806	141,135
Accounts payable and accrued expenses	2,067	1,913
Total accounts payable and accrued expenses	19,323	27,583
Total accounts payable, accrued expenses and other liabilities	284,162	289,349
Medley And Consolidated Funds [Member]
Accounts payable, accrued expenses and other liabilities of Medley:
Total accounts payable and accrued expenses	33,047	33,350
Consolidated Funds [Member]
Accounts payable, accrued expenses and other liabilities of Medley:
Secured borrowings of Consolidated Funds, at fair value	136,806	141,135
Total accounts payable and accrued expenses	$13,724	$5,767

SECURED_BORROWINGS_Narratiave_

SECURED BORROWINGS (Narratiave) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured borrowings at fair value	$136,806,000		$141,135,000
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year	937,000
2016	312,000
2017	2,875,000
2018	5,500,000
2019	96,626,000
Secured Debt [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Long-term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year	2,000,000
2016	4,000,000
2017	8,700,000
2018	36,900,000
2019	81,000,000
Thereafter	5,700,000
Consolidated Funds [Member]
Assets and Associated Liabilities of Transfers Accounted for as Secured Borrowings [Line Items]
Secured borrowings at cost	137,400,000		143,000,000
Secured borrowings at fair value	136,806,000		141,135,000
Investment associated with secured borrowings	136,800,000		141,100,000
Net proceeds from secured borrowings	-4,600,000	11,800,000
Interest expense from secured borrowings	$3,804,000	$1,312,000

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Narrative) (Details) (USD $)	3 Months Ended		1 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Apr. 30, 2012	Dec. 31, 2014
Commitments And Contingencies [Line Items]
Lease expiration period	various times through December 2020
Rent expense	$700,000	$600,000
Consolidated Funds [Member]
Commitments And Contingencies [Line Items]
Unfunded capital commitments	900,000			1,100,000
Non-recourse Promissory Notes [Member]
Commitments And Contingencies [Line Items]
Debt instrument, face amount	2,500,000		10,000,000
Proceeds from issuance of debt			10,000,000
Present value of future cash flows expected to be paid			4,400,000
Contractual obligation	$6,700,000			$6,700,000

COMMITMENTS_AND_CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Future Minimum Rental Payments) (Details) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Commitments and Contingencies [Abstract]
Remaining 2015	$1,831
2016	784
2017	452
2018	457
2019	463
Thereafter	469
Total future minimum lease payments	$4,456

RELATED_PARTY_TRANSACTIONS_Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Apr. 30, 2012	Dec. 31, 2014
Non-recourse Promissory Notes [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount	$2,500,000		$10,000,000
Nonrecourse Promissory Note Zero Interest [Member]
Related Party Transaction [Line Items]
Debt instrument, face amount	2,500,000
Debt instrument, interest rate, effective percentage	0.00%
Debt instrument, periodic payment, principal	312,500
Debt instrument, maturity date	31-Mar-16
Debt instrument, issuance date	31-Mar-14
MCC Admin Agreement [Member]
Related Party Transaction [Line Items]
Administrative services revenue	1,100,000	800,000
Accrued fees and other revenue receivable	1,100,000			1,100,000
SIC Admin Agreement [Member]
Related Party Transaction [Line Items]
Administrative services revenue	600,000	200,000
Accrued fees and other revenue receivable	600,000			400,000
SIC [Member] | Investment Advisory Agreement [Member]
Related Party Transaction [Line Items]
Gross proceeds benchmark	300,000,000
Fee percentage for orgainization and offereing costs	1.25%
Organization and Offering Expenses		700,000
Reimbursement revenue		900,000
SIC [Member] | Expense Support and Reimbursement Agreement [Member]
Related Party Transaction [Line Items]
Operating expenses percentage	100.00%
Expense support and reimbursement agreement expenses	2,200,000	1,300,000
ESA Liability	$4,100,000			$5,200,000

EARNINGS_PER_CLASS_A_SHARE_Nar

EARNINGS PER CLASS A SHARE (Narrative) (Details) (USD $)	3 Months Ended	0 Months Ended
	Mar. 31, 2015	Nov. 10, 2014
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividends declared per Class A common stock	$0.20
Antidilutive securities excluded from computation of earnings per share (shares)	23,333,333
Common Class A [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividends declared per Class A common stock		$0.20

EARNINGS_PER_CLASS_A_SHARE_Bas

EARNINGS PER CLASS A SHARE (Basic and Diluted Income per Class A Share) (Details) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015
Numerator
Net income attributable to Medley Management Inc.	$1,274
Denominator
Weighted average shares of Class A shares outstanding	6,000,000
Common Class A [Member]
Numerator
Net income attributable to Medley Management Inc.	1,274
Less: Dividends	-1,200	[1]
Less: Undistributed net income available to participating securities	15	[2]
Undistributed net income available to class A common stockholders	-77
Denominator
Weighted average shares of Class A shares outstanding	7,142,604
Less: weighted average of participating securities	-1,142,604	[2]
Weighted Average Number of Shares Outstanding, Basic, Total	6,000,000
Add: dilutive effects of conversion of LLC Units		[3]
Weighted Average Number of Shares Outstanding, Diluted, Total	6,000,000
Basic and diluted, Distributable earnings	$0.20
Basic and diluted, Undistributed income	($0.01)
Net income per Class A share	$0.19
Participating Securities [Member]
Numerator
Less: Dividends	($166)	[2]
[1]	The Company declared a $0.20 per share dividend on Class A common stock on March 29, 2015.
[2]	Participating securities relate to the Companybs grant of restricted stock units in connection with its IPO, adjusted for actual forfeitures and additional grants during the period.
[3]	Excludes the assumed conversion of 23,333,333 LLC units to Class A shares as the impact would be antidilutive.

INCOME_TAXES_Narrative_Details

INCOME TAXES (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Income Taxes [Abstract]
Deferred Tax Assets, Net of Valuation Allowance	$1,200,000		$1,200,000
Deferred Tax Liabilities, Gross	517,000		245,000
Effective Income Tax Rate Reconciliation, Percent	7.20%	5.00%
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	0	0
Unrecognized Tax Benefits	$0		$0
Income Tax Examination, Description	Certain subsidiaries of the Company are no longer subject to tax examinations by taxing authorities for tax years prior to 2010 and, presently, have no open examinations for tax years before 201

COMPENSATION_EXPENSE_Narrative

COMPENSATION EXPENSE (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance fee compensation	$112,000	$1,518,000
Performance fee compensation payable	11,377,000		11,807,000
Defined contribution plan, employer matching contribution, percent of employees' gross pay	3.00%
Percentage vested from participants eligibility date	100.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	100,000	200,000
Incentive Plan shares available for grant	3,400,000		3,300,000
Stock-based compensation	778,000
Shares authorized for grant	4,500,000
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of units issued during period	16,000,000
Anticipated forfeiture rate	8.00%
Stock-based compensation	800,000
RSUs forfeited	168,000
Units outstanding, net of forfeitures	920,000
Unvested RSU compensation cost not yet recognized	$14,500,000
Recognition period for unvested RSU compensation cost	4 years 6 months
RSU vesting period	5 years
RSUs granted, units	82,000

COMPENSATION_EXPENSE_Schedule_

COMPENSATION EXPENSE (Schedule of RSU Activity) (Details) (Restricted Stock Units (RSUs) [Member], USD $)	3 Months Ended
	Mar. 31, 2015
Restricted Stock Units (RSUs) [Member]
Number of RSUs
Beginning Balance	1,197,915
Granted	82,000
Forfeited	-168,000
Vested
Ending Balance	1,111,915
Weighted Average Grant Date Fair Value
Beginning Balance	$17.91
Granted	$12.68
Forfeited	$18
Vested
Ending Balance	$17.51

SEGMENT_REPORTING_Schedule_of_

SEGMENT REPORTING (Schedule of Segment Reporting Information, by Segment) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Revenues
Management fees	$16,194		$13,228
Performance Fees	1,212		755
Other revenues and fees	1,624		2,013
Total revenues	19,030		15,996
Expenses
Compensation and benefits	7,221		3,759
Performance fee compensation	112		1,518
General, administrative and other expenses	4,507		4,229
Expenses	12,633		9,826
Other income (expense)
Dividend income	222		222
Interest Expense	-2,085		-633
Other expenses, net	-383		-931
Total other expense, net	17,235		3,987
Income before income taxes	23,632		10,157
Provision for income taxes	1,690		504
Net income	21,942		9,653
Net income	1,274
Reimbursable fund startup expenses	1,923		1,275
Severance expense	121		6
Share-based Compensation	778
Adjustment For Pre-IPO Guaranteed Payments			-1,226
Core Net Income	11,767		5,843
Interest expense	2,085		633
Depreciation and amortization	111		92
Standalone [Member]
Revenues
Management fees	17,520		14,991
Performance Fees	6,336		76
Other revenues and fees	1,624		2,013
Total revenues	25,480		17,080
Expenses
Compensation and benefits	7,221		3,759
Performance fee compensation	112		1,518
General, administrative and other expenses	4,507		4,229
Expenses	11,840		9,506
Other income (expense)
Dividend income	222		222
Interest Expense	-2,085		-633
Other expenses, net	-262		-1,192
Total other expense, net	-2,125		-1,603
Income before income taxes	11,515		5,971
Provision for income taxes	1,148		230
Net income	10,367		5,741
Net income attributable to non-controlling interests in consolidated subsidiaries	1,290		-47
Net income	1,274
Reimbursable fund startup expenses	1,923	[1]	1,275	[1]
Severance expense	121	[1]	6	[1]
Adjustment For Pre-IPO Guaranteed Payments			-1,226	[1],[2]
Core Net Income	11,767		5,843
Interest expense	2,085		633
Income taxes	1,499		230
Depreciation and amortization	111		92
Core EBITDA	15,462		6,798
Consolidated Subsidiaries [Member]
Other income (expense)
Net income attributable to non-controlling interests in consolidated subsidiaries	1,290		-47
Consolidated Subsidiaries [Member] | Standalone [Member]
Other income (expense)
Net income attributable to non-controlling interests in consolidated subsidiaries	1,290		-47
Medley Management Inc. And Non Controlling Interests In Medley LLC [Member]
Other income (expense)
Net income	9,077		5,788
Medley Management Inc. And Non Controlling Interests In Medley LLC [Member] | Standalone [Member]
Other income (expense)
Net income	9,077		5,788
Medley LLC [Member]
Other income (expense)
Net income attributable to non-controlling interests in consolidated subsidiaries	7,803		5,788
Medley LLC [Member] | Standalone [Member]
Other income (expense)
Net income attributable to non-controlling interests in consolidated subsidiaries	$7,803		$5,788
[1]	Presented net of income taxes.
[2]	Represents a pro forma adjustment to reflect guaranteed payments to Medley LLC members as compensation expense. Prior to the Companybs Reorganization and IPO, these payments were recorded as distributions from memberbs capital.

SEGMENT_REPORTING_Reconciliati

SEGMENT REPORTING (Reconciliation of Operating Profit (Loss) from Segments to Consolidated) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Mar. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$19,030		$15,996
Expenses	12,633		9,826
Other income (expense), net	17,235		3,987
Income taxes	1,690		504
Net income attributable to Medley Management Inc.	1,274
Net income attributable to Medley Management Inc. and non-controlling interests in Medley LLC	21,942		9,653
Reimbursable fund startup expenses	1,923		1,275
Severance expenses	121		6
IPO date award stock-based compensation	646
Adjustment for pre-IPO guaranteed payments to members			-1,226
Core Net Income	11,767		5,843
Standalone [Member]
Segment Reporting Information [Line Items]
Revenues	25,480		17,080
Expenses	11,840		9,506
Other income (expense), net	-2,125		-1,603
Income taxes	1,148		230
Net income attributable to non-controlling interests	1,290		-47
Net income attributable to Medley Management Inc.	1,274
Net income attributable to Medley Management Inc. and non-controlling interests in Medley LLC	10,367		5,741
Reimbursable fund startup expenses	1,923	[1]	1,275	[1]
Severance expenses	121	[1]	6	[1]
IPO date award stock-based compensation	646	[1]		[1]
Adjustment for pre-IPO guaranteed payments to members			-1,226	[1],[2]
Core Net Income	11,767		5,843
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Revenues	-6,450		-1,084
Expenses	793		320
Other income (expense), net	19,360		5,590
Income taxes	542		274
Consolidated Subsidiaries [Member]
Segment Reporting Information [Line Items]
Net income attributable to non-controlling interests	1,290		-47
Consolidated Subsidiaries [Member] | Standalone [Member]
Segment Reporting Information [Line Items]
Net income attributable to non-controlling interests	1,290		-47
Consolidated Funds [Member]
Segment Reporting Information [Line Items]
Net income attributable to non-controlling interests	11,575		3,912
Consolidated Funds [Member] | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Expenses	793		320
Income taxes	542		274
Net income attributable to non-controlling interests	11,575		3,912
Medley LLC [Member]
Segment Reporting Information [Line Items]
Net income attributable to non-controlling interests	7,803		5,788
Medley LLC [Member] | Standalone [Member]
Segment Reporting Information [Line Items]
Net income attributable to non-controlling interests	7,803		5,788
Medley Management Inc. And Non Controlling Interests In Medley LLC [Member]
Segment Reporting Information [Line Items]
Net income attributable to Medley Management Inc.	9,077		5,788
Medley Management Inc. And Non Controlling Interests In Medley LLC [Member] | Standalone [Member]
Segment Reporting Information [Line Items]
Net income attributable to Medley Management Inc.	$9,077		$5,788
[1]	Presented net of income taxes.
[2]	Represents a pro forma adjustment to reflect guaranteed payments to Medley LLC members as compensation expense. Prior to the Companybs Reorganization and IPO, these payments were recorded as distributions from memberbs capital.

SEGMENT_REPORTING_Adjustments_

SEGMENT REPORTING (Adjustments and Reconciliations to Revenues) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Management fees from Consolidated Funds eliminated in consolidation	$16,194	$13,228
MOF II Performance fees eliminated in consolidation	1,212	755
Total revenues	19,030	15,996
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Management fees from Consolidated Funds eliminated in consolidation	-1,326	-1,763
MOF II Performance fees eliminated in consolidation	-5,124	679
Total revenues	($6,450)	($1,084)

SEGMENT_REPORTING_Adjustments_1

SEGMENT REPORTING (Adjustments and Reconciliations to Expenses) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Consolidated Funds Expenses	$793	$320
Total segment expenses	12,633	9,826
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Total segment expenses	793	320
Consolidated Funds [Member]
Segment Reporting Information [Line Items]
Consolidated Funds Expenses	793	320
Consolidated Funds [Member] | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Total segment expenses	$793	$320

SEGMENT_REPORTING_Adjustment_t

SEGMENT REPORTING (Adjustment to Interest and Investment Income) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Interest and other income of Consolidated Funds	$18,727	$13,421
Net realized gain (loss) on investments of Consolidated Funds	952	1,357
Net change in unrealized (depreciation) appreciation on investments of Consolidated Funds	4,022	-7,813
Total segment other income (expense), net	17,235	3,987
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Interest and other income of Consolidated Funds	18,727	13,421
Interest expense of Consolidated Funds	-3,804	-1,312
Net realized gain (loss) on investments of Consolidated Funds	952	1,357
Net change in unrealized (depreciation) appreciation on investments of Consolidated Funds	4,022	-7,813
Net change in unrealized depreciation (appreciation) on secured borrowings	-416	-324
Elimination of equity income from Consolidated Funds	-121	261
Total segment other income (expense), net	19,360	5,590
Consolidated Funds [Member]
Segment Reporting Information [Line Items]
Interest and other income of Consolidated Funds	18,727	13,421
Interest expense of Consolidated Funds	3,804	1,312
Net realized gain (loss) on investments of Consolidated Funds	1,059	1,357
Net change in unrealized depreciation (appreciation) on secured borrowings	($416)	($324)

SEGMENT_REPORTING_Provision_Fo

SEGMENT REPORTING (Provision For Income Taxes Adjustment) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Total segment provision for taxes	$1,690	$504
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Total segment provision for taxes	542	274
Consolidated Funds [Member] | Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Total segment provision for taxes	$542	$274

CONSOLIDATING_SCHEDULES_Consol

CONSOLIDATING SCHEDULES (Consolidated Income Statement) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Management fees	$16,194	$13,228
Performance fees	1,212	755
Other revenues and fees	1,624	2,013
Total revenues	19,030	15,996
Expenses:
Compensation and benefits	7,221	3,759
Performance fee compensation	112	1,518
Consolidated Funds expenses	793	320
General, administrative and other expenses	4,507	4,229
Total operating expenses	12,633	9,826
Other income (expense):
Dividend income	222	222
Interest Expense	-2,085	-633
Other expense, net	-383	-931
Interest and other income of Consolidated Funds	18,727	13,421
Net realized loss on investments of Consolidated Funds	952	1,357
Net change in unrealized depreciation on investments of Consolidated Funds	4,022	-7,813
Total other expense, net	17,235	3,987
Income before income taxes	23,632	10,157
Provision for income taxes	1,690	504
Net income	21,942	9,653
Net income attributable to Medley Management Inc.	1,274
Consolidated Funds [Member]
Expenses:
Consolidated Funds expenses	793	320
Other income (expense):
Interest expense of Consolidated Funds	3,804	1,312
Interest and other income of Consolidated Funds	18,727	13,421
Net realized loss on investments of Consolidated Funds	1,059	1,357
Net change in unrealized depreciation (appreciation) on secured borrowings of Consolidated Funds	-416	-324
Net income attributable to non-controlling interests	11,575	3,912
Consolidated Subsidiaries [Member]
Other income (expense):
Net income attributable to non-controlling interests	1,290	-47
Medley LLC [Member]
Other income (expense):
Net income attributable to non-controlling interests	7,803	5,788
Standalone [Member]
Revenues:
Management fees	17,520	14,991
Performance fees	6,336	76
Other revenues and fees	1,624	2,013
Total revenues	25,480	17,080
Expenses:
Compensation and benefits	7,221	3,759
Performance fee compensation	112	1,518
General, administrative and other expenses	4,507	4,229
Total operating expenses	11,840	9,506
Other income (expense):
Dividend income	222	222
Interest Expense	-2,085	-633
Other expense, net	-262	-1,192
Total other expense, net	-2,125	-1,603
Income before income taxes	11,515	5,971
Provision for income taxes	1,148	230
Net income	10,367	5,741
Net income attributable to non-controlling interests	1,290	-47
Net income attributable to Medley Management Inc.	1,274
Standalone [Member] | Consolidated Subsidiaries [Member]
Other income (expense):
Net income attributable to non-controlling interests	1,290	-47
Standalone [Member] | Medley LLC [Member]
Other income (expense):
Net income attributable to non-controlling interests	7,803	5,788
Consolidated Funds [Member]
Expenses:
Consolidated Funds expenses	2,119	2,083
Total operating expenses	2,119	2,083
Other income (expense):
Interest and other income of Consolidated Funds	18,727	13,421
Net realized loss on investments of Consolidated Funds	952	1,357
Net change in unrealized depreciation on investments of Consolidated Funds	4,022	-7,813
Total other expense, net	19,481	5,329
Income before income taxes	17,362	3,246
Provision for income taxes	542	274
Net income	16,820	2,972
Net income attributable to Medley Management Inc.	16,820
Consolidated Funds [Member] | Consolidated Funds [Member]
Other income (expense):
Interest expense of Consolidated Funds	3,804	1,312
Net change in unrealized depreciation (appreciation) on secured borrowings of Consolidated Funds	-416	-324
Consolidated Funds [Member] | Medley LLC [Member]
Other income (expense):
Net income attributable to non-controlling interests		2,972
Consolidation, Eliminations [Member]
Revenues:
Management fees	-1,326	-1,763
Performance fees	-5,124	679
Total revenues	-6,450	-1,084
Expenses:
Consolidated Funds expenses	-1,326	-1,763
Total operating expenses	-1,326	-1,763
Other income (expense):
Other expense, net	-121	261
Total other expense, net	-121	261
Income before income taxes	-5,245	940
Net income	-5,245	940
Net income attributable to Medley Management Inc.	-16,820
Consolidation, Eliminations [Member] | Consolidated Funds [Member]
Other income (expense):
Net income attributable to non-controlling interests	11,575	3,912
Consolidation, Eliminations [Member] | Medley LLC [Member]
Other income (expense):
Net income attributable to non-controlling interests		($2,972)

CONSOLIDATING_SCHEDULES_Consol1

CONSOLIDATING SCHEDULES (Consolidated Balance Sheet) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets
Cash and cash equivalents	$71,834	$87,206	$1,969	$5,395
Investments, at fair value	735,623	734,870
Investments, at fair value	11,539	9,901
Management fees receivable	15,024	15,173
Performance fees receivable	6,785	5,573
Other assets	9,084	9,230
Total assets	935,369	910,399
Liabilities and equity
Loans payable	102,932	103,057
Accounts payable, accrued expenses and other liabilities	19,323	27,583
Secured borrowings	136,806	141,135
Performance fee compensation payable	11,377	11,807
Total liabilities	284,162	289,349
Stockholders' Equity
Additional paid-in-capital	-1,606	-2,384
Retained earnings	180	272
Total stockholders' equity, Medley Management Inc.	-1,366	-2,052
Total (deficit) equity	651,207	621,050
Total liabilities and equity	935,369	910,399
Common Class A [Member]
Stockholders' Equity
Common stock value	60	60
Consolidated Funds [Member]
Assets
Cash and cash equivalents	77,725	38,111
Investments, at fair value	735,623	734,870
Other assets	1,340	3,681
Interest and dividends receivable	6,415	6,654
Liabilities and equity
Accounts payable, accrued expenses and other liabilities	13,724	5,767
Secured borrowings	136,806	141,135
Stockholders' Equity
Non-controlling interests	654,970	625,548
Consolidated Subsidiaries [Member]
Stockholders' Equity
Non-controlling interests	2,816	1,526
Medley LLC [Member]
Assets
Other assets	9,084	9,230
Stockholders' Equity
Non-controlling interests	-5,213	-3,972
Standalone [Member]
Assets
Cash and cash equivalents	71,834	87,206
Investments, at fair value	27,588	22,143
Management fees receivable	15,024	15,173
Performance fees receivable	6,785	5,573
Other assets	9,338	9,230
Total assets	130,569	139,325
Liabilities and equity
Loans payable	102,932	103,057
Accounts payable, accrued expenses and other liabilities	20,023	28,959
Performance fee compensation payable	11,377	11,807
Total liabilities	134,332	143,823
Stockholders' Equity
Additional paid-in-capital	-1,606	-2,384
Retained earnings	180	272
Total stockholders' equity, Medley Management Inc.	-1,366	-2,052
Total (deficit) equity	-3,763	-4,498
Total liabilities and equity	130,569	139,325
Standalone [Member] | Common Class A [Member]
Stockholders' Equity
Common stock value	60	60
Standalone [Member] | Consolidated Subsidiaries [Member]
Stockholders' Equity
Non-controlling interests	2,816	1,526
Standalone [Member] | Medley LLC [Member]
Stockholders' Equity
Non-controlling interests	-5,213	-3,972
Consolidated Funds [Member]
Assets
Total assets	821,803	784,692
Liabilities and equity
Secured borrowings	136,806	141,135
Total liabilities	150,784	146,902
Stockholders' Equity
Members' equity of consolidated funds	671,019	637,790
Total (deficit) equity	671,019	637,790
Total liabilities and equity	821,803	784,692
Consolidated Funds [Member] | Consolidated Funds [Member]
Assets
Cash and cash equivalents	77,725	38,111
Investments, at fair value	735,623	734,870
Other assets	2,040	5,057
Interest and dividends receivable	6,415	6,654
Liabilities and equity
Accounts payable, accrued expenses and other liabilities	13,978	5,767
Consolidation, Eliminations [Member]
Assets
Investments, at fair value	-16,049	-12,242
Other assets	-254
Total assets	-17,003	-13,618
Liabilities and equity
Accounts payable, accrued expenses and other liabilities	-700	-1,376
Total liabilities	-954	-1,376
Stockholders' Equity
Members' equity of consolidated funds	-671,019	-637,790
Total (deficit) equity	-16,049	-12,242
Total liabilities and equity	-17,003	-13,618
Consolidation, Eliminations [Member] | Consolidated Funds [Member]
Assets
Other assets	-700	-1,376
Liabilities and equity
Accounts payable, accrued expenses and other liabilities	-254
Stockholders' Equity
Non-controlling interests	$654,970	$625,548