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FAIR VALUE - Schedule of Changes in Fair Value of Level III Measurements (Details) - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2023 | Dec. 31, 2022
Consolidated Funds |  |
Level III Net Assets of Consolidated Funds |  |
Balance, beginning of period | $ 1,965,647 | $ 1,317,703
Transfer in (out) due to changes in consolidated | (380,688) |
Transfer in | 247,661 | 278,423
Transfer out | (540,718) | (202,333)
Purchases | 1,210,147 | 1,115,434
Sales/settlements | (752,582) | (620,885)
Realized and unrealized appreciation, net | 179,755 | 77,305
Balance, end of period | 1,929,222 | 1,965,647
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | $ 138,303 | $ 45,323
Level III Liabilities of the Company |  |
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Net realized and unrealized gains (losses) from investments | Net realized and unrealized gains (losses) from investments
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Asset, Gain (Loss), Statement of Other Comprehensive Income or Comprehensive Income [Extensible Enumeration] | Net realized and unrealized gains (losses) from investments | Net realized and unrealized gains (losses) from investments
Consolidated Funds | Equity securities |  |
Level III Net Assets of Consolidated Funds |  |
Balance, beginning of period | $ 730,880 | $ 339,183
Transfer in (out) due to changes in consolidated | (2,076) |
Transfer in | 0 | 0
Transfer out | (36,681) | 0
Purchases | 347,583 | 323,699
Sales/settlements | (2,595) | (31,932)
Realized and unrealized appreciation, net | 153,289 | 99,930
Balance, end of period | 1,190,400 | 730,880
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | 152,336 | 70,591
Consolidated Funds | Fixed Income |  |
Level III Net Assets of Consolidated Funds |  |
Balance, beginning of period | 869,668 | 742,952
Transfer in (out) due to changes in consolidated | (4,563) |
Transfer in | 247,661 | 184,037
Transfer out | (504,037) | (202,333)
Purchases | 813,564 | 732,477
Sales/settlements | (700,944) | (536,125)
Realized and unrealized appreciation, net | 18,764 | (51,340)
Balance, end of period | 740,113 | 869,668
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | (15,623) | (54,058)
Consolidated Funds | Partnership Interests |  |
Level III Net Assets of Consolidated Funds |  |
Balance, beginning of period | 368,655 | 238,673
Transfer in (out) due to changes in consolidated | (374,049) |
Transfer in | 0 | 94,386
Transfer out | 0 | 0
Purchases | 49,000 | 59,258
Sales/settlements | (48,889) | (52,828)
Realized and unrealized appreciation, net | 5,283 | 29,166
Balance, end of period | 0 | 368,655
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | 0 | 29,166
Consolidated Funds | Derivatives, Net |  |
Level III Net Assets of Consolidated Funds |  |
Balance, beginning of period | (3,556) | (3,105)
Transfer in (out) due to changes in consolidated | 0 |
Transfer in | 0 | 0
Transfer out | 0 | 0
Purchases | 0 | 0
Sales/settlements | (154) | 0
Realized and unrealized appreciation, net | 2,419 | (451)
Balance, end of period | (1,291) | (3,556)
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | 1,590 | (376)
Ares Management L.P |  |
Level III Net Assets of Consolidated Funds |  |
Balance, beginning of period | 198,719 | 106,486
Transfer in (out) due to changes in consolidated |  | 1,491
Purchases | 332,815 | 33,286
Change in fair value |  | (1,438)
Sales/settlements | (37,334) | 53,978
Realized and unrealized appreciation, net | 44,585 | 4,916
Balance, end of period | 538,785 | 198,719
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | 44,584 | 7,018
Ares Management L.P | Equity securities |  |
Level III Net Assets of Consolidated Funds |  |
Balance, beginning of period | 121,785 | 108,949
Transfer in (out) due to changes in consolidated |  | 1,491
Purchases | 244,335 | 894
Change in fair value |  | 0
Sales/settlements | (2) | 68
Realized and unrealized appreciation, net | 46,373 | 10,383
Balance, end of period | 412,491 | 121,785
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | 46,161 | 12,448
Ares Management L.P | Fixed Income |  |
Level III Net Assets of Consolidated Funds |  |
Balance, beginning of period | 76,934 | 52,397
Transfer in (out) due to changes in consolidated |  | 0
Purchases | 88,480 | 32,392
Change in fair value |  | 0
Sales/settlements | (37,332) | (2,425)
Realized and unrealized appreciation, net | (1,788) | (5,430)
Balance, end of period | 126,294 | 76,934
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | (1,577) | (5,430)
Ares Management L.P | Partnership Interests |  |
Level III Net Assets of Consolidated Funds |  |
Balance, beginning of period | 0 | 2,575
Transfer in (out) due to changes in consolidated |  | 0
Purchases |  | 0
Change in fair value |  | 0
Sales/settlements |  | (2,538)
Realized and unrealized appreciation, net |  | (37)
Balance, end of period |  | 0
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date |  | 0
Ares Management L.P | Contingent Consideration |  |
Level III Liabilities of the Company |  |
Balance, beginning of period | $ 0 | (57,435)
Transfer in due to changes in consolidation |  | 0
Purchases |  | 0
Sales/settlements |  | 58,873
Change in fair value |  | (1,438)
Realized and unrealized appreciation (depreciation), net |  | 0
Balance, ending of period |  | 0
Change in net unrealized appreciation included in earnings related to financial assets and liabilities still held at the reporting date |  | $ 0

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