| Summary of Aggregate Notional Amount and Fair Value of Derivative Financial Instruments |
The table below
summarizes the aggregate notional amount and fair value of the
derivative financial instruments. The notional amount represents
the absolute value amount of all outstanding derivative
contracts.
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September 30,
2013 |
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December 31,
2012 |
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Assets |
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Liabilities |
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Assets |
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Liabilities |
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Notional |
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Fair
Value |
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Notional |
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Fair
Value |
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Notional |
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Fair
Value |
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Notional |
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Fair
Value |
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Freestanding
Derivatives
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Blackstone—Other
Interest Rate Contracts
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$ |
1,914,476 |
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$ |
44,545 |
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$ |
1,035,600 |
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$ |
4,673 |
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$ |
689,300 |
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$ |
55,270 |
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$ |
636,555 |
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$ |
4,116 |
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Foreign Currency
Contracts
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68,896 |
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1,490 |
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66,115 |
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1,398 |
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16,771 |
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74 |
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7,025 |
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81 |
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Credit Default
Swaps
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— |
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— |
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41,000 |
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4,534 |
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— |
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— |
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— |
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— |
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Investments of Consolidated
CLO Vehicles
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Foreign Currency
Contracts
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362,841 |
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30,954 |
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236,887 |
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8,775 |
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435,229 |
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37,898 |
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301,551 |
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17,101 |
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Interest Rate
Contracts
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81,505 |
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3,653 |
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— |
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— |
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165,517 |
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6,132 |
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90,500 |
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772 |
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Total
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$ |
2,427,718 |
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$ |
80,642 |
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$ |
1,379,602 |
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$ |
19,380 |
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$ |
1,306,817 |
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$ |
99,374 |
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$ |
1,035,631 |
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$ |
22,070 |
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| Summary of Impact of Derivative Financial Instruments to Condensed Consolidated Statements of Operations |
The table below
summarizes the impact to the Condensed Consolidated Statements of
Operations from derivative financial instruments:
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2013 |
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2012 |
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2013 |
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2012 |
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Fair Value Hedges
— Interest Rate Swaps
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Hedge
Ineffectiveness
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
548 |
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Excluded from Assessment of
Effectiveness
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
(938 |
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Realized Gain
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
22,941 |
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Freestanding
Derivatives
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Realized Gains
(Losses)
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Interest Rate
Contracts
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$ |
359 |
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$ |
(189 |
) |
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$ |
(596 |
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$ |
(2,740 |
) |
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Foreign Currency
Contracts
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11,847 |
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(1,438 |
) |
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8,084 |
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1,357 |
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Other
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92 |
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8 |
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(81 |
) |
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15 |
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Total
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$ |
12,298 |
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$ |
(1,619 |
) |
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$ |
7,407 |
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$ |
(1,368 |
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Net Change in Unrealized
Gains (Losses)
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Interest Rate
Contracts
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$ |
(2,512 |
) |
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$ |
1,946 |
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$ |
(12,005 |
) |
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$ |
9,565 |
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Foreign Currency
Contracts
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(11,553 |
) |
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(11,027 |
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1,083 |
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(11,692 |
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Credit Default
Swaps
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211 |
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(5 |
) |
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(89 |
) |
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(46 |
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Total
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$ |
(13,854 |
) |
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$ |
(9,086 |
) |
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$ |
(11,011 |
) |
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$ |
(2,173 |
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