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INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2023
Investments in and Advances to Affiliates [Abstract] |
Schedule of Investments Held | The following table summarizes the Company’s investments:
| As of |  | Percentage of total investments as of
| December 31, |  | December 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
Equity method investments: |  |  |  |  |  |  |
Equity method - carried interest | $ | 3,413,007 |  |  | $ | 3,106,577 |  |  | 73.8% |  | 78.2%
Equity method private investment partnership interests - principal | 535,292 |  |  | 543,592 |  |  | 11.6 |  | 13.7
Equity method private investment partnership interests and other (held at fair value) | 418,778 |  |  | 123,170 |  |  | 9.0 |  | 3.1
Equity method private investment partnership interests and other | 44,989 |  |  | 47,439 |  |  | 1.0 |  | 1.2
Total equity method investments | 4,412,066 |  |  | 3,820,778 |  |  | 95.4 |  | 96.2
Fixed income securities | 105,495 |  |  | 51,771 |  |  | 2.3 |  | 1.2
Collateralized loan obligations | 20,799 |  |  | 25,163 |  |  | 0.4 |  | 0.6
Collateralized loan obligations and fixed income securities, at fair value | 126,294 |  |  | 76,934 |  |  | 2.7 |  | 1.8
Common stock, at fair value | 86,572 |  |  | 77,022 |  |  | 1.9 |  | 2.0
Total investments | $ | 4,624,932 |  |  | $ | 3,974,734 |  |  |  |  |
The following table summarizes investments held in the Consolidated Funds:
| Fair Value as of |  | Percentage of total investments as of
| December 31, |  | December 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
Fixed income investments: |  |  |  |  |  |  |
Loans and securitization vehicles | $ | 10,616,458 |  |  | $ | 9,280,522 |  |  | 72.7% |  | 70.3%
Bonds | 578,949 |  |  | 786,961 |  |  | 4.0 |  | 6.0
Money market funds and U.S. treasury securities | 523,038 |  |  | 1,013,382 |  |  | 3.6 |  | 7.7
Total fixed income investments | 11,718,445 |  |  | 11,080,865 |  |  | 80.3 |  | 84.0
Partnership interests | 1,642,489 |  |  | 1,392,169 |  |  | 11.2 |  | 10.5
Equity securities | 1,240,653 |  |  | 731,599 |  |  | 8.5 |  | 5.5
Total investments, at fair value | $ | 14,601,587 |  |  | $ | 13,204,633 |  |  |  |  |
Schedule of Equity Method Investments | The following tables present summarized financial information for the Company’s equity method investments, which are primarily funds managed by the Company:
| As of and for the Year Ended December 31, 2023
| Credit Group |  | Private Equity Group |  | Real Assets Group |  | Secondaries Group |  | Other |  | Total
Statement of Financial Condition |  |  |  |  |  |  |  |  |  |  |
Investments | $ | 21,366,223 |  |  | $ | 6,971,840 |  |  | $ | 17,757,664 |  |  | $ | 13,497,266 |  |  | $ | 38,212 |  |  | $ | 59,631,205 |
Total assets | 23,015,503 |  |  | 7,110,511 |  |  | 18,792,446 |  |  | 13,808,556 |  |  | 38,284 |  |  | 62,765,300 |
Total liabilities | 5,152,522 |  |  | 130,727 |  |  | 6,528,302 |  |  | 3,632,879 |  |  | 418 |  |  | 15,444,848 |
Total equity | 17,862,981 |  |  | 6,979,784 |  |  | 12,264,144 |  |  | 10,175,677 |  |  | 37,866 |  |  | 47,320,452 |
Statement of Operations |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 2,123,547 |  |  | $ | 594,464 |  |  | $ | 1,036,710 |  |  | $ | 1,960 |  |  | $ | — |  |  | $ | 3,756,681 |
Expenses | (759,485) |  |  | (191,613) |  |  | (632,433) |  |  | (482,478) |  |  | (1,658) |  |  | (2,067,667) |
Net realized and unrealized gains (losses) from investments | 247,619 |  |  | 600,322 |  |  | (599,200) |  |  | 373,064 |  |  | (7,316) |  |  | 614,489 |
Income tax expense | (5,192) |  |  | (555) |  |  | (10,197) |  |  | — |  |  | (19) |  |  | (15,963) |
Net income (loss) | $ | 1,606,489 |  |  | $ | 1,002,618 |  |  | $ | (205,120) |  |  | $ | (107,454) |  |  | $ | (8,993) |  |  | $ | 2,287,540 |
| As of and for the Year Ended December 31, 2022
| Credit Group |  | Private Equity Group |  | Real Assets Group |  | Secondaries Group |  | Other |  | Total
Statement of Financial Condition |  |  |  |  |  |  |  |  |  |  |
Investments | $ | 17,633,914 |  |  | $ | 9,376,032 |  |  | $ | 13,052,820 |  |  | $ | 12,719,333 |  |  | $ | 51,239 |  |  | $ | 52,833,338 |
Total assets | 20,883,559 |  |  | 9,947,821 |  |  | 14,440,914 |  |  | 12,931,082 |  |  | 51,825 |  |  | 58,255,201 |
Total liabilities | 5,770,070 |  |  | 937,326 |  |  | 5,007,250 |  |  | 3,716,111 |  |  | 6,615 |  |  | 15,437,372 |
Total equity | 15,113,489 |  |  | 9,010,495 |  |  | 9,433,664 |  |  | 9,214,971 |  |  | 45,210 |  |  | 42,817,829 |
Statement of Operations |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 1,341,368 |  |  | $ | 271,873 |  |  | $ | 618,796 |  |  | $ | 2,874 |  |  | $ | — |  |  | $ | 2,234,911 |
Expenses | (438,690) |  |  | (153,372) |  |  | (357,845) |  |  | (289,741) |  |  | (1,500) |  |  | (1,241,148) |
Net realized and unrealized gains (losses) from investments | 12,464 |  |  | (482,260) |  |  | 304,068 |  |  | (11,173) |  |  | 1,365 |  |  | (175,536) |
Income tax expense | (4,724) |  |  | 92 |  |  | (36,501) |  |  | — |  |  | (10) |  |  | (41,143) |
Net income (loss) | $ | 910,418 |  |  | $ | (363,667) |  |  | $ | 528,518 |  |  | $ | (298,040) |  |  | $ | (145) |  |  | $ | 777,084 |
| As of and for the Year Ended December 31, 2021
| Credit Group |  | Private Equity Group |  | Real Assets Group |  | Secondaries Group |  | Other |  | Total
Statement of Operations |  |  |  |  |  |  |  |  |  |  |
Revenues | $ | 1,342,427 |  |  | $ | 229,539 |  |  | $ | 326,507 |  |  | $ | 911 |  |  | $ | — |  |  | $ | 1,899,384 |
Expenses | (305,452) |  |  | (177,380) |  |  | (170,008) |  |  | (89,281) |  |  | (22,609) |  |  | (764,730) |
Net realized and unrealized gains (losses) from investments | 438,083 |  |  | 2,161,730 |  |  | 1,179,698 |  |  | 1,399,009 |  |  | (4,898) |  |  | 5,173,622 |
Income tax benefit (expense) | (4,511) |  |  | (19,125) |  |  | (1,167) |  |  | — |  |  | — |  |  | (24,803) |
Net income (loss) | $ | 1,470,547 |  |  | $ | 2,194,764 |  |  | $ | 1,335,030 |  |  | $ | 1,310,639 |  |  | $ | (27,507) |  |  | $ | 6,283,473 |
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 on investments, and interest and dividend income within the Consolidated Statements of Operations:
|  |  |  | Year ended December 31,
|  |  |  |  |  | 2023 |  | 2022 |  | 2021
Total other income, net related to equity method investments |  |  |  |  |  | $ | 86,729 |  |  | $ | 21,657 |  |  | $ | 114,856 |
The following table summarizes the changes in fair value of the Company’s equity method investments held at fair value, which are included within net realized and unrealized gains on investments within the Consolidated Statements of Operations:
|  |  | Year ended December 31,
|  |  |  |  | 2023 |  | 2022 |  | 2021
Equity method private investment partnership interests and other (held at fair value) |  |  |  |  | $ | 50,772 |  |  | $ | 5,626 |  |  | $ | 7,100 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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