XML 91 R51.htm IDEA: XBRL DOCUMENT v3.25.3
FAIR VALUE - Schedule of Changes in Fair Value of Level III Measurements (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Consolidated Funds         
Level III Net Assets of Consolidated Funds        
Balance, beginning of period $ 2,504,672 $ 2,388,736 $ 2,421,898 $ 1,929,222
Transfer in 96,098 143,738 263,628 199,112
Transfer out (161,632) (228,049) (312,695) (305,922)
Purchases 587,257 386,867 1,122,758 1,193,728
Sales/settlements (194,499) (213,600) (748,409) (586,088)
Realized and unrealized appreciation (depreciation), net 48,377 9,924 133,093 57,564
Balance, end of period 2,880,273 2,487,616 2,880,273 2,487,616
Change in net unrealized appreciation/depreciation and fair value included in earnings related to financial assets and liabilities still held at the reporting date 50,497 8,653 126,781 57,410
Level III Liabilities of the Company        
Balance, beginning of period (720) (1,615) (1,846) (1,291)
Transfers in 0 0 0 0
Transfer out 0 0 0 0
Purchases 0 0 124 114
Sales/settlements 0 0 0 0
Realized and unrealized appreciation (depreciation), net 564 (288) 1,566 (726)
Balance, ending of period (156) (1,903) (156) (1,903)
Change in net unrealized appreciation/depreciation included in earnings related to financial assets still held at the reporting date $ 560 $ (222) $ 1,532 $ (664)
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
Equity securities | Consolidated Funds         
Level III Net Assets of Consolidated Funds        
Balance, beginning of period $ 2,004,343 $ 1,586,854 $ 1,829,927 $ 1,190,400
Transfer in 0 0 1 0
Transfer out (819) (508) (819) (35)
Purchases 180,028 136,313 270,355 482,424
Sales/settlements (383) (111) (502) (111)
Realized and unrealized appreciation (depreciation), net 43,854 9,015 128,061 58,885
Balance, end of period 2,227,023 1,731,563 2,227,023 1,731,563
Change in net unrealized appreciation/depreciation and fair value included in earnings related to financial assets and liabilities still held at the reporting date 44,727 9,300 128,230 60,995
Fixed Income | Consolidated Funds         
Level III Net Assets of Consolidated Funds        
Balance, beginning of period 501,049 803,497 593,817 740,113
Transfer in 96,098 143,738 263,627 199,112
Transfer out (160,813) (227,541) (311,876) (305,887)
Purchases 407,229 250,554 852,279 711,190
Sales/settlements (194,116) (213,489) (747,907) (585,977)
Realized and unrealized appreciation (depreciation), net 3,959 1,197 3,466 (595)
Balance, end of period 653,406 757,956 653,406 757,956
Change in net unrealized appreciation/depreciation and fair value included in earnings related to financial assets and liabilities still held at the reporting date 5,210 (425) (2,981) (2,921)
Ares Management L.P        
Level III Net Assets of Consolidated Funds        
Balance, beginning of period (38,641) 471,817 435,462 538,785
Transfer in 28,650   38,653 60,917
Transfer out (21,551)   (31,551) (37,587)
Purchases 1,977 19,099 49,693 286,452
Sales/settlements (1,383) (1,337) (39,820) (363,642)
Change in fair value (17,564)   (45,424)  
Realized and unrealized appreciation (depreciation), net 177,093 (2,499) 186,648 2,155
Balance, end of period 128,581 487,080 128,581 487,080
Change in net unrealized appreciation/depreciation and fair value included in earnings related to financial assets and liabilities still held at the reporting date 159,538 (2,823) 142,946 715
Level III Liabilities of the Company        
Established in connection with acquisition     (465,080)  
Ares Management L.P | Contingent Consideration        
Level III Liabilities of the Company        
Balance, beginning of period (510,490)   (17,550)  
Established in connection with acquisition     (465,080)  
Transfers in 0   0  
Transfer out 0   0  
Purchases 0   0  
Sales/settlements 0   0  
Change in fair value (17,564)   (45,424)  
Realized and unrealized appreciation (depreciation), net 0   0  
Balance, ending of period (528,054)   (528,054)  
Change in net unrealized appreciation/depreciation included in earnings related to financial assets still held at the reporting date (17,564)   (45,424)  
Ares Management L.P | Equity securities        
Level III Net Assets of Consolidated Funds        
Balance, beginning of period 421,438 379,443 411,179 412,491
Established in connection with acquisition     0  
Transfer in 27,162   27,162 0
Transfer out 0   (10,000) (37,587)
Purchases 100 859 10,646 2,539
Sales/settlements 0 1,093 0 (1,478)
Change in fair value 0   0  
Realized and unrealized appreciation (depreciation), net 176,011 (4,308) 185,724 1,122
Balance, end of period 624,711 377,087 624,711 377,087
Change in net unrealized appreciation/depreciation and fair value included in earnings related to financial assets and liabilities still held at the reporting date 176,011 (5,041) 185,724 (1,260)
Ares Management L.P | Fixed Income        
Level III Net Assets of Consolidated Funds        
Balance, beginning of period 50,411 92,374 41,833 126,294
Established in connection with acquisition     0  
Transfer in 1,488   11,491 60,917
Transfer out (21,551)   (21,551) 0
Purchases 1,877 18,240 39,047 283,913
Sales/settlements (1,383) (2,430) (39,820) (362,164)
Change in fair value 0   0  
Realized and unrealized appreciation (depreciation), net 1,082 1,809 924 1,033
Balance, end of period 31,924 109,993 31,924 109,993
Change in net unrealized appreciation/depreciation and fair value included in earnings related to financial assets and liabilities still held at the reporting date $ 1,091 $ 2,218 $ 2,646 $ 1,975