INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2016

Ares Management L.P.

Investments

Summary of investments held

					Fair value as a
					percentage of total
	Fair value at				investments at
	June 30,		December 31,		June 30,		December 31,
	2016		2015		2016		2015
Private Investment Partnership Interests:
AREA Sponsor Holdings, LLC	$	32,435	$	37,275	7.2	%	8.7	%
ACE II Master Fund, L.P. (1)(2)		22,537		22,015	5.0	%	5.2	%
Ares Corporate Opportunities Fund III, L.P.		101,450		108,506	22.7	%	25.4	%
Ares Corporate Opportunities Fund IV, L.P. (2)		36,972		30,571	8.3	%	7.2	%
Resolution Life L.P.		39,646		40,703	8.9	%	9.5	%
Other private investment partnership interests (1)(3)		160,576		132,405	35.8	%	31.0	%
Total private investment partnership interests (cost: $309,434 and $297,026 at June 30, 2016 and December 31, 2015, respectively)		393,616		371,475	87.9	%	87.0	%
Collateralized Loan Obligations Interests:
Collateralized loan obligations(3)		54,155		55,752	12.1	%	13.0	%
Total collateralized loan obligations (cost: $57,827 and $53,669 at June 30, 2016 and December 31, 2015, respectively)		54,155		55,752	12.1	%	13.0	%
Common Stock:
Common stock(3)		87		81	0.0	%	0.0	%
Total common stock (cost: $120 and $116 at June 30, 2016 and December 31, 2015, respectively)		87		81	0.0	%	0.0	%
Total fair value investments (cost: $367,381 and $350,811 at June 30, 2016 and December 31, 2015, respectively)	$	447,858	$	427,308

(1) Investment or portion of the investment is denominated in foreign currency; fair value is translated into U.S. dollars at each reporting date

(2) Represents underlying security that is held through various legal entities

(3) No single issuer or investment had a fair value that exceeded 5% of the Company's total investments.

Schedule of equity method investments

	As of June 30, 2016		As of December 31, 2015
Equity-method investments	$	3,639	$	4,486
Equity-method investments at fair value		15,672		19,471
Total equity-method investments	$	19,311	$	23,957

The following table presents summarized financial information for an equity-method investment that the Company has determined to be significant based on the change in fair value:

		Three Months Ended				Six Months Ended
		Ended June 30,				Ended June 30,
		2016		2015		2016		2015
Revenue	$	755	$	(172)	$	1,511	$	941
Expenses		4,239		5,099		8,752		9,925
Net loss	$	(3,484)	$	(5,271)	$	(7,241)	$	(8,984)

Summary of cost and fair value of investments classified as HTM

	As of June 30, 2016		As of December 31, 2015
Amortized Cost	$	17,368	$	17,022
Unrealized loss, net		(562)		(334)
Fair value	$	16,806	$	16,688

Consolidated Funds

Investments

Summary of investments held

					Fair value as a
					percentage of total
	Fair value at				investments at
		June 30,	December 31,		June 30,		December 31,
	2016		2015		2016		2015
United States:
Fixed income securities:
Consumer discretionary	$	407,161	$	393,902	16.2	%	15.4	%
Consumer staples		45,017		40,030	1.8	%	1.6	%
Energy		46,341		38,617	1.8	%	1.5	%
Financials		75,041		78,806	3.0	%	3.1	%
Healthcare, education and childcare		171,475		162,191	6.8	%	6.3	%
Industrials		151,775		161,830	6.0	%	6.3	%
Information technology		172,128		138,186	6.8	%	5.4	%
Materials		97,395		95,767	3.9	%	3.7	%
Partnership interests		115,440		86,902	4.6	%	3.4	%
Telecommunication services		176,548		202,256	7.0	%	7.9	%
Utilities		29,820		12,733	1.2	%	0.5	%
Total fixed income securities (cost: $1,504,932 and $1,462,570 at June 30, 2016 and December 31, 2015, respectively)		1,488,141		1,411,220	59.1	%	55.1	%
Equity securities:
Healthcare, education and childcare		344		344	0.0	%	0.0	%
Telecommunication services		286		510	0.0	%	0.0	%
Total equity securities (cost: $5,620 and $8,304 at June 30, 2016 and December 31, 2015, respectively)	$	630	$	854	0.0	%	0.0	%

					Fair value as a
					percentage of total
	Fair value at				investments at
	June 30,			December 31,	June 30,		December 31,
	2016		2015		2016		2015
Europe:
Fixed income securities:
Consumer discretionary	$	170,248	$	221,707	6.7	%	8.7	%
Consumer staples		48,278		50,625	1.9	%	2.0	%
Financials		27,256		29,922	1.1	%	1.2	%
Healthcare, education and childcare		104,814		104,704	4.1	%	4.1	%
Industrials		104,005		109,778	4.1	%	4.3	%
Information technology		32,944		31,562	1.3	%	1.2	%
Materials		103,071		98,450	4.1	%	3.8	%
Telecommunication services		128,271		149,105	5.1	%	5.8	%
Utilities		788		768	0.0	%	0.0	%
Total fixed income securities (cost: $765,916  and $836,217 at June 30, 2016 and December 31, 2015, respectively)		719,675		796,621	28.4	%	31.1	%
Equity securities:
Consumer discretionary		3,872		4,306	0.2	%	0.2	%
Consumer staples		1,415		1,286	0.1	%	0.1	%
Healthcare, education and childcare		54,064		37,294	2.1	%	1.5	%
Telecommunication services		23		159	0.0	%	0.0	%
Total equity securities (cost: $89,778 and $ 80,827 at June 30, 2016 and December 31, 2015, respectively)		59,374		43,045	2.4	%	1.8	%
Asia and other:
Fixed income securities:
Consumer discretionary		25,541		34,810	1.0	%	1.4	%
Financials		1,236		—	0.0	%	—	%
Healthcare, education and childcare		10,440		23,999	0.4	%	0.9	%
Telecommunication services		8,706		9,909	0.3	%	0.4	%
Total fixed income securities (cost: $47,987 and $57,868 at June 30, 2016 and December 31, 2015, respectively)		45,923		68,718	1.7	%	2.7	%
Equity securities:
Consumer discretionary		31,600		55,532	1.2	%	2.2	%
Consumer staples		48,447		55,442	1.9	%	2.2	%
Healthcare, education and childcare		32,598		32,865	1.3	%	1.3	%
Industrials		12,891		12,891	0.5	%	0.5	%
Total equity securities (cost: $118,730 at June 30, 2016 and December 31, 2015, respectively)	$	125,536	$	156,730	4.9	%	6.2	%

					Fair value as a
					percentage of total
	Fair value at				investments at
		June 30,		December 31,	June 30,		December 31,
	2016		2015		2016		2015
Canada:
Fixed income securities:
Consumer discretionary	$	1,414	$	827	0.1	%	0.0	%
Consumer staples		3,987		1,369	0.2	%	0.1	%
Energy		7,199		8,724	0.3	%	0.3	%
Healthcare, education and childcare		12,969		14,819	0.5	%	0.6	%
Industrials		631		513	0.0	%	0.0	%
Telecommunication services		13,487		6,627	0.5	%	0.3	%
Total fixed income securities (cost: $40,534  and $34,397 at June 30, 2016 and December 31, 2015, respectively)		39,687		32,879	1.6	%	1.3	%
Equity securities:
Consumer discretionary		413		—	—		—
Total equity securities (cost: $408 and $0 at June 30, 2016 and December 31, 2015, respectively)		413		—	—		—
Australia:
Fixed income securities:
Energy		8,827		8,888	0.3	%	0.3	%
Industrials		4,635		3,657	0.2	%	0.1	%
Utilities		15,955		16,041	0.6	%	0.6	%
Total fixed income securities (cost: $36,827 and $39,574 at June 30, 2016 and December 31, 2015, respectively)		29,417		28,586	1.1	%	1.0	%
Equity securities:
Telecommunication services		2,242		5,370	0.1	%	0.2	%
Utilities		18,135		15,760	0.7	%	0.6	%
Total equity securities (cost: $23,693 and $25,524 at June 30, 2016 and December 31, 2015, respectively)		20,377		21,130	0.8	%	0.8	%
Total fixed income securities		2,322,843		2,338,024	91.9	%	91.2	%
Total equity securities		206,330		221,759	8.1	%	8.8	%
Total investments, at fair value	$	2,529,173	$	2,559,783