XML 50 R11.htm IDEA: XBRL DOCUMENT v3.23.3
INVESTMENTS
 9 Months Ended
Sep. 30, 2023
Investments in and Advances to Affiliates [Abstract]  
INVESTMENTS
4. INVESTMENTS

The following table summarizes the Company’s investments:
As ofPercentage of total investments as of
September 30,December 31,September 30,December 31,
2023202220232022
Equity method investments:
Equity method - carried interest
$3,490,841 $3,106,577 78.7%78.2%
Equity method private investment partnership interests - principal580,140 543,592 13.113.7
Equity method private investment partnership interests and other (held at fair value)158,542 123,170 3.63.1
Equity method private investment partnership interests and other45,816 47,439 1.01.2
Total equity method investments4,275,339 3,820,778 96.496.2
Collateralized loan obligations20,879 25,163 0.50.6
Other fixed income54,336 51,771 1.21.2
Collateralized loan obligations and other fixed income, at fair value75,215 76,934 1.71.8
Common stock, at fair value86,192 77,022 1.92.0
Total investments$4,436,746 $3,974,734 

Equity Method Investments

The Company’s equity method investments include investments that are not consolidated but over which the Company exerts significant influence. The Company evaluates each of its equity method investments to determine if any were significant as defined by guidance from the SEC. As of and for the three and nine months ended September 30, 2023 and 2022, no individual equity method investment held by the Company met the significance criteria.
The following table presents the Company’s other income, net from to its equity method investments, which were included within principal investment income, net realized and unrealized gains (losses) on investments, and interest and dividend income within the Condensed Consolidated Statements of Operations:
Three months ended September 30,Nine months ended September 30,
2023202220232022
Total other income, net related to equity method investments
$1,845 $16,228 $34,900 $25,065 

With respect to the Company’s equity method investments, the material assets are expected to generate either long term capital appreciation and/or interest income, the material liabilities are debt instruments collateralized by, or related to, the financing of the assets and net income is materially comprised of the changes in fair value of these net assets.
Investments of the Consolidated Funds

The following table summarizes investments held in the Consolidated Funds:
Fair Value as ofPercentage of total investments as of
September 30,December 31,September 30,December 31,
2023202220232022
Fixed income investments:
Loans$10,001,553 $9,280,522 70.3%70.3%
Investments held in trust account1,002,787 1,013,382 7.07.7
Bonds561,570 786,961 4.06.0
Total fixed income investments11,565,910 11,080,865 81.384.0
Partnership interests1,486,217 1,392,169 10.510.5
Equity securities1,172,657 731,599 8.25.5
Total investments, at fair value$14,224,784 $13,204,633 
As of September 30, 2023 and December 31, 2022, no single issuer or investment, including derivative instruments and underlying portfolio investments of the Consolidated Funds, had a fair value that exceeded 5.0% of the Company’s total assets.