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DEBT OBLIGATIONS AND CREDIT FACILITIES | 9 Months Ended
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Sep. 30, 2025
Debt Disclosure [Abstract] |
DEBT OBLIGATIONS AND CREDIT FACILITIES | DEBT OBLIGATIONS AND CREDIT FACILITIES Debt Obligations of the Consolidated Funds Certain consolidated funds may maintain revolving credit facilities that are secured by the assets of the fund or may issue senior variable rate notes to fund investments on a longer term basis, generally up to ten years. The obligations of the consolidated funds are nonrecourse to the Company. The consolidated funds had the following debt obligations outstanding:
| Outstanding Amount as of |  | Key terms as of September 30, 2025
Credit Agreement | September 30, 2025 |  | December 31, 2024 | Facility Capacity |  | Effective Interest Rate |  | Weighted Average Remaining Maturity (years) |  | Commitment Fee Rate |  | L/C Fee
Revolving credit facilities (1) | $ | 1,170,611 |  |  | $ | 1,472,795 |  |  | $ | 1,784,352 |  |  | 5.92% |  | 0.76 |  | 0.25% |  | 1.75%
Less: Debt issuance costs | (4,029) |  |  | (2,685) |  |  |  |  |  |  |  |  |  |  |
Total debt obligations, net (2) | $ | 1,166,582 |  |  | $ | 1,470,110 |  |  |  |  |  |  |  |  |  |  |
(1) The credit facility capacity is calculated on a pro rata basis using fund commitments as of September 30, 2025. (2) Debt issuance costs are included in other assets as of September 30, 2025 and December 31, 2024. The carrying value of the revolving credit facilities approximated fair value due to recent issuance. Financial instruments that are valued using quoted prices for the security or similar securities are generally classified as Level III because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities, or may require adjustment for investment-specific factors or restrictions. Following the 2024 Restructuring, with the deconsolidation of Oaktree Capital I, which acts as or controls the general partner of certain Oaktree funds and which holds a majority of Oaktree’s investments in its funds, the debt obligations of the funds consolidated by Oaktree Capital I are accounted for as part of the equity investment in Oaktree Capital I.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A Reference 2: http://www.xbrl.org/2003/role/disclosureRef 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