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REDEEMABLE INTERESTS
 6 Months Ended
Jun. 30, 2016
REDEEMABLE INTERESTS.  
REDEEMABLE INTERESTS

8. REDEEMABLE INTERESTS

The following table sets forth a summary of changes in the redeemable interests in the Ares Operating Group entities as of June 30, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

    

Beginning balance at December 31, 2015

$
23,505

 

Change in ownership

 
(2)

 

Distributions 

 
(363)

 

Net income

 
349

 

Currency translation adjustment

 
(45)

 

Equity compensation

 
77

 

Ending Balance

$
23,521

 

 

 

 

 

 

 

 

 

Upon acquisition of Indicus Advisors, LLP (“Indicus”) in November 2011, certain former owners of Indicus (“Former Owners”) were provided a put option on their equity interest at a strike price of $40 million to be exercised during 2016 (“Fixed Price Put Option”), among other consideration. The Company has been notified of the Former Owners’ intention to exercise their Fixed Price Put Option. The Company is obligated to make payment of $40 million to settle this option in November 2016, subject to continuing negotiations.