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FAIR VALUE - Schedule of Changes in Fair Value of Level III Measurements (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023
Consolidated Funds |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | $ 2,004,208 | $ 2,037,790 | $ 1,929,222 | $ 1,965,647
Transfer in (out) due to changes in consolidated |  | 380,688 |  | (380,688)
Transfer in | 213,045 | 57,540 | 149,292 | 195,575
Transfer out | (203,255) | (214,205) | (298,030) | (489,165)
Purchases | 547,398 | 299,557 | 981,105 | 669,102
Sales/settlements | (199,490) | (177,248) | (424,037) | (375,132)
Realized and unrealized appreciation (depreciation), net | 26,830 | 88,757 | 51,184 | 126,164
Balance, end of period | 2,388,736 | 1,711,503 | 2,388,736 | 1,711,503
Change in net unrealized appreciation/depreciation included in earnings related to financial assets still held at the reporting date | $ 28,222 | $ 58,355 | $ 52,538 | $ 88,757
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 | 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 | 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 | $ 1,366,464 | $ 932,635 | $ 1,190,400 | $ 730,880
Transfer in (out) due to changes in consolidated |  | 2,076 |  | (2,076)
Transfer in | 413 | 0 | 475 | 0
Transfer out | 0 | 0 | 0 | 0
Purchases | 191,639 | 48,645 | 346,112 | 229,016
Sales/settlements | 0 | (4) | 0 | (126)
Realized and unrealized appreciation (depreciation), net | 28,338 | 86,865 | 49,867 | 108,371
Balance, end of period | 1,586,854 | 1,066,065 | 1,586,854 | 1,066,065
Change in net unrealized appreciation/depreciation included in earnings related to financial assets still held at the reporting date | 30,259 | 86,879 | 51,952 | 108,324
Consolidated Funds | Fixed Income |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | 639,318 | 732,804 | 740,113 | 869,668
Transfer in (out) due to changes in consolidated |  | 4,563 |  | (4,563)
Transfer in | 212,632 | 57,540 | 148,817 | 195,575
Transfer out | (203,255) | (214,205) | (298,030) | (489,165)
Purchases | 355,692 | 250,912 | 634,880 | 391,086
Sales/settlements | (199,490) | (177,095) | (424,037) | (325,968)
Realized and unrealized appreciation (depreciation), net | (1,400) | 2,738 | 1,754 | 11,498
Balance, end of period | 803,497 | 648,131 | 803,497 | 648,131
Change in net unrealized appreciation/depreciation included in earnings related to financial assets still held at the reporting date | (1,868) | (27,469) | 1,028 | (20,381)
Consolidated Funds | Partnership Interests |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period |  | 374,049 |  | 368,655
Transfer in (out) due to changes in consolidated |  | 374,049 |  | (374,049)
Transfer in |  | 0 |  | 0
Transfer out |  | 0 |  | 0
Purchases |  | 0 |  | 49,000
Sales/settlements |  | 0 |  | (48,889)
Realized and unrealized appreciation (depreciation), net |  | 0 |  | 5,283
Balance, end of period |  | 0 |  | 0
Change in net unrealized appreciation/depreciation included in earnings related to financial assets still held at the reporting date |  | 0 |  | 0
Consolidated Funds | Derivatives, Net |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | (1,574) | (1,698) | (1,291) | (3,556)
Transfer in (out) due to changes in consolidated |  | 0 |  | 0
Transfer in | 0 | 0 | 0 | 0
Transfer out | 0 | 0 | 0 | 0
Purchases | 67 | 0 | 113 | 0
Sales/settlements | 0 | (149) | 0 | (149)
Realized and unrealized appreciation (depreciation), net | (108) | (846) | (437) | 1,012
Balance, end of period | (1,615) | (2,693) | (1,615) | (2,693)
Change in net unrealized appreciation/depreciation included in earnings related to financial assets still held at the reporting date | (169) | (1,055) | (442) | 814
Ares Management L.P |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | 438,462 | 200,242 | 538,785 | 198,719
Transfer in | 60,917 |  | 60,917 |
Transfer out | (37,587) |  | (37,587) |
Purchases | 265,057 | 38,979 | 267,353 | 40,226
Sales/settlements | (253,164) | (1,722) | (362,306) | (3,213)
Realized and unrealized appreciation (depreciation), net | (1,868) | 1,649 | 4,655 | 3,416
Balance, end of period | 471,817 | 239,148 | 471,817 | 239,148
Change in net unrealized appreciation/depreciation included in earnings related to financial assets still held at the reporting date | (2,910) | 1,649 | 3,613 | 3,416
Ares Management L.P | Equity securities |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | 416,874 | 125,073 | 412,491 | 121,785
Transfer in | 0 |  | 0 |
Transfer out | (37,587) |  | (37,587) |
Purchases | 1,650 | 38,208 | 1,680 | 38,260
Sales/settlements | (1,790) | (881) | (2,572) | (836)
Realized and unrealized appreciation (depreciation), net | 296 | 2,971 | 5,431 | 6,162
Balance, end of period | 379,443 | 165,371 | 379,443 | 165,371
Change in net unrealized appreciation/depreciation included in earnings related to financial assets still held at the reporting date | (1,354) | 2,971 | 3,780 | 5,949
Ares Management L.P | Fixed Income |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | 21,588 | 75,169 | 126,294 | 76,934
Transfer in | 60,917 |  | 60,917 |
Transfer out | 0 |  | 0 |
Purchases | 263,407 | 771 | 265,673 | 1,966
Sales/settlements | (251,374) | (841) | (359,734) | (2,377)
Realized and unrealized appreciation (depreciation), net | (2,164) | (1,322) | (776) | (2,746)
Balance, end of period | 92,374 | 73,777 | 92,374 | 73,777
Change in net unrealized appreciation/depreciation included in earnings related to financial assets still held at the reporting date | $ (1,556) | $ (1,322) | $ (167) | $ (2,533)

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