XML 86 R47.htm IDEA: XBRL DOCUMENT v3.23.3
FAIR VALUE - Valuation Techniques (Details)
$ in Thousands
Sep. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Consolidated Funds     
Assets    
Equity securities $ 1,172,657 $ 731,599
Partnership interests 1,486,217 1,392,169
Collateralized loan obligations 11,460,963 10,701,720
Fixed income investments 11,565,910 11,080,865
Total assets, at fair value 14,230,283 13,207,533
Liabilities    
Derivative instruments (20,867) (15,824)
Total liabilities, at fair value (11,481,830) (10,717,544)
Consolidated Funds  | Level III     
Assets    
Equity securities 1,111,593 730,880
Partnership interests 0 368,655
Collateralized loan obligations 0 0
Fixed income investments 552,028 869,668
Total assets, at fair value 1,663,621 1,969,203
Liabilities    
Derivative instruments (2,145) (3,556)
Total liabilities, at fair value (2,145) (3,556)
Consolidated Funds  | Level III  | Market approach    
Assets    
Fixed income investments   125,612
Consolidated Funds  | Level III  | Market approach | Equity Securities One    
Assets    
Equity securities 502,644  
Consolidated Funds  | Level III  | Market approach | Equity Securities Two    
Assets    
Equity securities 928  
Consolidated Funds  | Level III  | Market approach | Fixed Income Investments One    
Assets    
Fixed income investments 108,666  
Consolidated Funds  | Level III  | Market approach | Fixed Income Investments Two    
Assets    
Fixed income investments $ 2,627  
Consolidated Funds  | Level III  | Market approach | Multiple of book value    
Assets    
Equity securities   $ 290,258
Consolidated Funds  | Level III  | Market approach | Multiple of book value | Minimum    
Significant Unobservable Input(s)    
Equity securities   1.0
Consolidated Funds  | Level III  | Market approach | Multiple of book value | Minimum | Equity Securities One    
Significant Unobservable Input(s)    
Equity securities 1.0  
Consolidated Funds  | Level III  | Market approach | Multiple of book value | Maximum    
Significant Unobservable Input(s)    
Equity securities   1.2
Consolidated Funds  | Level III  | Market approach | Multiple of book value | Maximum | Equity Securities One    
Significant Unobservable Input(s)    
Equity securities 1.7  
Consolidated Funds  | Level III  | Market approach | Multiple of book value | Weighted Average    
Significant Unobservable Input(s)    
Equity securities   1.2
Consolidated Funds  | Level III  | Market approach | Multiple of book value | Weighted Average | Equity Securities One    
Significant Unobservable Input(s)    
Equity securities 1.3  
Consolidated Funds  | Level III  | Market approach | Net income multiple    
Assets    
Equity securities   $ 36,681
Significant Unobservable Input(s)    
Equity securities   30.0
Consolidated Funds  | Level III  | Market approach | Net income multiple | Weighted Average    
Significant Unobservable Input(s)    
Equity securities   30.0
Consolidated Funds  | Level III  | Market approach | EBITDA multiple    
Assets    
Equity securities   $ 2,064
Fixed income investments   $ 4,479
Consolidated Funds  | Level III  | Market approach | EBITDA multiple | Minimum    
Significant Unobservable Input(s)    
Equity securities   6.3
Fixed income investments   8.0
Consolidated Funds  | Level III  | Market approach | EBITDA multiple | Minimum | Equity Securities Two    
Significant Unobservable Input(s)    
Equity securities 6.3  
Consolidated Funds  | Level III  | Market approach | EBITDA multiple | Minimum | Fixed Income Investments Two    
Significant Unobservable Input(s)    
Fixed income investments 5.4  
Consolidated Funds  | Level III  | Market approach | EBITDA multiple | Maximum    
Significant Unobservable Input(s)    
Equity securities   31.0
Fixed income investments   9.0
Consolidated Funds  | Level III  | Market approach | EBITDA multiple | Maximum | Equity Securities Two    
Significant Unobservable Input(s)    
Equity securities 30.0  
Consolidated Funds  | Level III  | Market approach | EBITDA multiple | Maximum | Fixed Income Investments Two    
Significant Unobservable Input(s)    
Fixed income investments 30.0  
Consolidated Funds  | Level III  | Market approach | EBITDA multiple | Weighted Average    
Significant Unobservable Input(s)    
Equity securities   13.6
Fixed income investments   8.5
Consolidated Funds  | Level III  | Market approach | EBITDA multiple | Weighted Average | Equity Securities Two    
Significant Unobservable Input(s)    
Equity securities 16.8  
Consolidated Funds  | Level III  | Market approach | EBITDA multiple | Weighted Average | Fixed Income Investments Two    
Significant Unobservable Input(s)    
Fixed income investments 8.7  
Consolidated Funds  | Level III  | Market approach | Yield | Minimum    
Significant Unobservable Input(s)    
Fixed income investments   0.066
Consolidated Funds  | Level III  | Market approach | Yield | Minimum | Fixed Income Investments One    
Significant Unobservable Input(s)    
Fixed income investments 0.084  
Consolidated Funds  | Level III  | Market approach | Yield | Maximum    
Significant Unobservable Input(s)    
Fixed income investments   0.217
Consolidated Funds  | Level III  | Market approach | Yield | Maximum | Fixed Income Investments One    
Significant Unobservable Input(s)    
Fixed income investments 0.219  
Consolidated Funds  | Level III  | Market approach | Yield | Weighted Average    
Significant Unobservable Input(s)    
Fixed income investments   0.128
Consolidated Funds  | Level III  | Market approach | Yield | Weighted Average | Fixed Income Investments One    
Significant Unobservable Input(s)    
Fixed income investments 0.125  
Consolidated Funds  | Level III  | Discounted cash flow    
Assets    
Equity securities $ 607,252 $ 401,229
Consolidated Funds  | Level III  | Discounted cash flow | Discount rate    
Assets    
Partnership interests   $ 368,655
Consolidated Funds  | Level III  | Discounted cash flow | Discount rate | Minimum    
Significant Unobservable Input(s)    
Equity securities 0.100 0.080
Partnership interest   0.103
Consolidated Funds  | Level III  | Discounted cash flow | Discount rate | Maximum    
Significant Unobservable Input(s)    
Equity securities 0.160 0.180
Partnership interest   0.220
Consolidated Funds  | Level III  | Discounted cash flow | Discount rate | Weighted Average    
Significant Unobservable Input(s)    
Equity securities 0.130 12
Partnership interest   0.189
Consolidated Funds  | Level III  | Transaction price    
Assets    
Fixed income investments $ 34,093 $ 6,155
Consolidated Funds  | Level III  | Other    
Assets    
Equity securities 769 648
Fixed income investments 4,039 1,714
Consolidated Funds  | Level III  | Broker quotes and/or 3rd party pricing services    
Assets    
Fixed income investments 402,603 731,708
Liabilities    
Derivative instruments (2,145) (3,556)
Ares Management L.P    
Assets    
Equity securities 241,104 198,807
Partnership interests 3,630 1,385
Total assets, at fair value 322,649 281,299
Liabilities    
Total liabilities, at fair value (801) (3,423)
Ares Management L.P | Level III     
Assets    
Equity securities 154,912 121,785
Partnership interests 0 0
Total assets, at fair value 230,127 198,719
Liabilities    
Total liabilities, at fair value 0 0
Ares Management L.P | Level III  | Market approach    
Assets    
Equity securities $ 114,225  
Ares Management L.P | Level III  | Market approach | Equity Securities One    
Assets    
Equity securities   $ 106,295
Ares Management L.P | Level III  | Market approach | Multiple of book value | Equity Securities One    
Significant Unobservable Input(s)    
Equity securities   1.3
Ares Management L.P | Level III  | Market approach | Multiple of book value | Minimum    
Significant Unobservable Input(s)    
Equity securities 1.3  
Ares Management L.P | Level III  | Market approach | Multiple of book value | Maximum    
Significant Unobservable Input(s)    
Equity securities 2.2  
Ares Management L.P | Level III  | Market approach | Multiple of book value | Weighted Average    
Significant Unobservable Input(s)    
Equity securities 1.8  
Ares Management L.P | Level III  | Market approach | Multiple of book value | Weighted Average | Equity Securities One    
Significant Unobservable Input(s)    
Equity securities   2.4
Ares Management L.P | Level III  | Discounted cash flow    
Assets    
Equity securities $ 507  
Ares Management L.P | Level III  | Discounted cash flow | Discount rate    
Significant Unobservable Input(s)    
Equity securities 20.5  
Ares Management L.P | Level III  | Discounted cash flow | Discount rate | Weighted Average    
Significant Unobservable Input(s)    
Equity securities 20.5  
Ares Management L.P | Level III  | Transaction price    
Assets    
Equity securities $ 37,403 $ 15,490
Fixed income investments 32,504 30,189
Ares Management L.P | Level III  | Other    
Assets    
Equity securities 2,777  
Fixed income investments 21,832 21,582
Ares Management L.P | Level III  | Broker quotes and/or 3rd party pricing services    
Assets    
Collateralized loan obligations $ 20,879 $ 25,163