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FAIR VALUE - Schedule of Changes in Fair Value of Level III Measurements (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023
Consolidated Funds |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | $ 2,388,736 | $ 1,711,503 | $ 1,929,222 | $ 1,965,647
Transfer in (out) due to changes in consolidated |  |  |  | 380,688
Transfer in | 143,738 | 64,227 | 199,112 | 192,359
Transfer out | (228,049) | (185,688) | (305,922) | (590,319)
Purchases | 386,867 | 215,616 | 1,193,728 | 828,604
Sales/settlements | (213,600) | (167,541) | (586,088) | (502,927)
Realized and unrealized appreciation (depreciation), net | 9,924 | 23,359 | 57,564 | 148,800
Balance, end of period | 2,487,616 | 1,661,476 | 2,487,616 | 1,661,476
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | $ 8,653 | $ (4,781) | $ 57,410 | $ 112,580
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 | $ 1,586,854 | $ 1,066,065 | $ 1,190,400 | $ 730,880
Transfer in (out) due to changes in consolidated |  |  |  | 2,076
Transfer in | 0 | 848 | 0 | 0
Transfer out | (508) | (36,064) | (35) | (36,681)
Purchases | 136,313 | 65,220 | 482,424 | 295,030
Sales/settlements | (111) | (2,364) | (111) | (2,490)
Realized and unrealized appreciation (depreciation), net | 9,015 | 17,888 | 58,885 | 126,930
Balance, end of period | 1,731,563 | 1,111,593 | 1,731,563 | 1,111,593
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | 9,300 | 17,950 | 60,995 | 127,001
Consolidated Funds | Fixed Income |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | 803,497 | 648,131 | 740,113 | 869,668
Transfer in (out) due to changes in consolidated |  |  |  | 4,563
Transfer in | 143,738 | 63,379 | 199,112 | 192,359
Transfer out | (227,541) | (149,624) | (305,887) | (553,638)
Purchases | 250,554 | 150,370 | 711,190 | 484,574
Sales/settlements | (213,489) | (165,177) | (585,977) | (451,426)
Realized and unrealized appreciation (depreciation), net | 1,197 | 4,949 | (595) | 15,054
Balance, end of period | 757,956 | 552,028 | 757,956 | 552,028
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | (425) | (23,157) | (2,921) | (15,704)
Consolidated Funds | Derivatives, Net |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | (1,615) | (2,693) | (1,291) | (3,556)
Transfer in (out) due to changes in consolidated |  |  |  | 0
Transfer in | 0 | 0 | 0 | 0
Transfer out | 0 | 0 | 0 | 0
Purchases | 0 | 26 | 114 | 0
Sales/settlements | 0 | 0 | 0 | (122)
Realized and unrealized appreciation (depreciation), net | (288) | 522 | (726) | 1,533
Balance, end of period | (1,903) | (2,145) | (1,903) | (2,145)
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | (222) | 426 | (664) | 1,283
Consolidated Funds | Partnership Interests |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period |  |  |  | 368,655
Transfer in (out) due to changes in consolidated |  |  |  | 374,049
Transfer in |  |  |  | 0
Transfer out |  |  |  | 0
Purchases |  |  |  | 49,000
Sales/settlements |  |  |  | (48,889)
Realized and unrealized appreciation (depreciation), net |  |  |  | 5,283
Balance, end of period |  | 0 |  | 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 |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | 471,817 | 239,148 | 538,785 | 198,719
Transfer in |  |  | 60,917 |
Transfer out |  |  | (37,587) |
Purchases | 19,099 | 1,506 | 286,452 | 41,732
Sales/settlements | (1,337) | (1,397) | (363,642) | (4,610)
Realized and unrealized appreciation (depreciation), net | (2,499) | (9,130) | 2,155 | (5,714)
Balance, end of period | 487,080 | 230,127 | 487,080 | 230,127
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | (2,823) | (9,130) | 715 | (5,714)
Ares Management L.P | Equity securities |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | 379,443 | 165,371 | 412,491 | 121,785
Transfer in |  |  | 0 |
Transfer out |  |  | (37,587) |
Purchases | 859 | 7 | 2,539 | 38,267
Sales/settlements | 1,093 | (350) | (1,478) | (1,186)
Realized and unrealized appreciation (depreciation), net | (4,308) | (10,116) | 1,122 | (3,954)
Balance, end of period | 377,087 | 154,912 | 377,087 | 154,912
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | (5,041) | (10,116) | (1,260) | (4,167)
Ares Management L.P | Fixed Income |  |  |  |
Level III Net Assets of Consolidated Funds |  |  |  |
Balance, beginning of period | 92,374 | 73,777 | 126,294 | 76,934
Transfer in |  |  | 60,917 |
Transfer out |  |  | 0 |
Purchases | 18,240 | 1,499 | 283,913 | 3,465
Sales/settlements | (2,430) | (1,047) | (362,164) | (3,424)
Realized and unrealized appreciation (depreciation), net | 1,809 | 986 | 1,033 | (1,760)
Balance, end of period | 109,993 | 75,215 | 109,993 | 75,215
Change in net unrealized appreciation/depreciation included in earnings related to financial assets and liabilities still held at the reporting date | $ 2,218 | $ 986 | $ 1,975 | $ (1,547)

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