CONSOLIDATION (Tables)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of Impact of Adoption of ASU 2015-02

The deconsolidation of such entities had the following impact on the Consolidated Statement of Financial Condition as of January 1, 2015:



	As of January 1, 2015
	As originally reported		As adjusted			Effect of deconsolidation
CLOs:
Number of entities	31		4			(27		)
Total assets	$	12,682,054	$	2,109,780		$	(10,572,274	)
Total liabilities	$	12,719,980	$	2,122,355		$	(10,597,625	)
Cumulative- effect adjustment to equity appropriated for Consolidated Funds	$	—	$	25,352		$	25,352
Non-CLOs:
Number of entities	35		6			(29		)
Total assets	$	7,271,422	$	395,730		$	(6,875,692	)
Total liabilities	$	1,242,484	$	55,430		$	(1,187,054	)
Cumulative- effect adjustment to redeemable interests in Consolidated Funds and non-controlling interest in Consolidated Funds	$	—	$	(5,688,639	)	$	(5,688,639	)
Total impact of deconsolidation of entities:
Number of entities	66		10			(56		)
Total assets	$	19,953,476	$	2,505,510		$	(17,447,966	)
Total liabilities	$	13,962,463	$	2,177,785		$	(11,784,679	)
Cumulative- effect adjustment to redeemable interests in Consolidated Funds and non-controlling interest in Consolidated Funds	$	—	$	(5,663,287	)	$	(5,663,287	)

Schedule of interest in VIEs

The Company's interests in consolidated and non-consolidated VIEs, as presented in the Consolidated Statements of Financial Condition, and their respective maximum exposure to loss relating to non-consolidated VIEs (excluding fixed arrangements) are as follows:



	As of December 31,
	2016		2015
Maximum exposure to loss attributable to the Company's investment in non-consolidated VIEs	$	268,950	$	284,169
Maximum exposure to loss attributable to the Company's investment in consolidated VIEs	$	153,746	$	160,858
Assets of consolidated VIEs	$	3,822,010	$	2,759,981
Liabilities of consolidated VIEs	$	3,360,329	$	2,256,517



	For the Years Ended December 31,
	2016		2015			2014
Net income (loss) attributable to non-controlling interests related to consolidated VIEs	$	3,386	$	(5,686	)	$	417,793

Schedule of consolidating effects of the Consolidated Funds on the Company's financial condition

The following supplemental financial information illustrates the consolidating effects of the Consolidated Funds on the Company's financial condition as of December 31, 2016 and 2015 and results from operations for the years ended December 31, 2016, 2015 and 2014.



	As of December 31, 2016
	Consolidated Company Entities			Consolidated Funds		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	342,861		$	—	$	—		$	342,861
Investments (includes fair value investments of $448,336)	622,215			—		(153,744		)	468,471
Performance fees receivable	767,429			—		(8,330		)	759,099
Due from affiliates	169,252			—		(6,316		)	162,936
Intangible assets, net	58,315			—		—			58,315
Goodwill	143,724			—		—			143,724
Deferred tax asset, net	6,731			—		—			6,731
Other assets	65,565			—		—			65,565
Assets of Consolidated Funds
Cash and cash equivalents	—			455,280		—			455,280
Investments, at fair value	—			3,330,203		—			3,330,203
Due from affiliates	—			3,592		—			3,592
Dividends and interest receivable	—			8,479		—			8,479
Receivable for securities sold	—			21,955		—			21,955
Other assets	—			2,501		—			2,501
Total assets	$	2,176,092		$	3,822,010	$	(168,390	)	$	5,829,712
Liabilities
Accounts payable, accrued expenses and other liabilities	$	83,336		$	—	$	—		$	83,336
Accrued compensation	131,736			—		—			131,736
Due to affiliates	17,959			—		(395		)	17,564
Performance fee compensation payable	598,050			—		—			598,050
Debt obligations	305,784			—		—			305,784
Liabilities of Consolidated Funds
Accounts payable, accrued expenses and other liabilities	—			21,056		—			21,056
Due to affiliates	—			10,599		(10,599		)	—
Payable for securities purchased	—			208,742		—			208,742
CLO loan obligations	—			3,064,862		(33,750		)	3,031,112
Fund borrowings	—			55,070		—			55,070
Total liabilities	1,136,865			3,360,329		(44,744		)	4,452,450
Commitments and contingencies
Preferred equity (12,400,000 units issued and outstanding at December 31, 2016)	298,761			—		—			298,761
Non-controlling interest in Consolidated Funds	—			461,681		(123,646		)	338,035
Non-controlling interest in Ares Operating Group entities	447,615			—		—			447,615
Controlling interest in Ares Management, L.P.:
Partners' Capital (80,814,732 units issued and outstanding)	301,790			—		—			301,790
Accumulated other comprehensive loss, net of tax	(8,939		)	—		—			(8,939		)
Total controlling interest in Ares Management, L.P.	292,851			—		—			292,851
Total equity	1,039,227			461,681		(123,646		)	1,377,262
Total liabilities, redeemable interests, non-controlling interests and equity	$	2,176,092		$	3,822,010	$	(168,390	)	$	5,829,712



	As of December 31, 2015
	Consolidated Company Entities			Consolidated Funds		Eliminations			Consolidated
Assets
Cash and cash equivalents	$	121,483		$	—	$	—		$	121,483
Investments (includes fair value investments of $446,779)	636,092			—		(167,805		)	468,287
Performance fees receivable	541,852			—		(7,191		)	534,661
Due from affiliates	149,771			—		(4,789		)	144,982
Other assets	62,975			—		—			62,975
Intangible assets, net	84,971			—		—			84,971
Goodwill	144,067			—		—			144,067
Assets of Consolidated Funds
Cash and cash equivalents	—			159,507		—			159,507
Investments, at fair value	—			2,559,783		—			2,559,783
Due from affiliates	—			13,360		(437		)	12,923
Dividends and interest receivable	—			13,005		—			13,005
Receivable for securities sold	—			13,416		—			13,416
Other assets	—			1,348		—			1,348
Total assets	$	1,741,211		$	2,760,419	$	(180,222	)	$	4,321,408
Liabilities
Accounts payable and accrued expenses	$	102,734		$	—	$	(108	)	$	102,626
Accrued compensation	125,032			—		—			125,032
Due to affiliates	13,016			—		(115		)	12,901
Performance fee compensation payable	401,715			—		—			401,715
Debt obligations	389,120			—		—			389,120
Equity compensation put option liability	20,000			—		—			20,000
Deferred tax liability, net	21,288			—		—			21,288
Liabilities of Consolidated Funds
Accounts payable, accrued expenses and other liabilities	—			18,956		(5		)	18,951
Due to affiliates	—			5,617		(5,617		)	—
Payable for securities purchased	—			51,778		—			51,778
CLO loan obligations	—			2,202,628		(28,276		)	2,174,352
Fund borrowings	—			11,734		—			11,734
Total liabilities	1,072,905			2,290,713		(34,121		)	3,329,497
Commitments and contingencies
Redeemable interest in Ares Operating Group entities	23,505			—		—			23,505
Non-controlling interest in Consolidated Funds:
Non-controlling interest in Consolidated Funds	—			466,339		(146,101		)	320,238
Equity appropriated for Consolidated Funds	—			3,367		—			3,367
Non-controlling interest in Consolidated Funds	—			469,706		(146,101		)	323,605
Non-controlling interest in Ares Operating Group entities	397,883			—		—			397,883
Controlling interest in Ares Management, L.P.:
Partners' Capital ( 80,679,600 units issued and outstanding)	251,537			—		—			251,537
Accumulated other comprehensive loss	(4,619		)	—		—			(4,619		)
Total controlling interest in Ares Management, L.P.	246,918			—		—			246,918
Total equity	644,801			469,706		(146,101		)	968,406
Total liabilities, redeemable interests, non-controlling interests and equity	$	1,741,211		$	2,760,419	$	(180,222	)	$	4,321,408

Schedule of results from operations



	For the Year Ended December 31, 2016
	Consolidated Company Entities		Consolidated Funds			Eliminations			Consolidated
Revenues
Management fees (includes ARCC Part I Fees of $121,181)	$	659,451	$	—		$	(17,383	)	$	642,068
Performance fees	518,991		—			(1,139		)	517,852
Administrative and other fees	39,285		—			—			39,285
Total revenues	1,217,727		—			(18,522		)	1,199,205
Expenses
Compensation and benefits	447,725		—			—			447,725
Performance fee compensation	387,846		—			—			387,846
General, administrative and other expense	159,776		—			—			159,776
Expenses of the Consolidated Funds	—		42,520			(21,447		)	21,073
Total expenses	995,347		42,520			(21,447		)	1,016,420
Other income (expense)
Net interest and investment income (includes interest expense of $17,981)	10,280		—			(4,480		)	5,800
Other income, net	35,650		—			—			35,650
Net realized and unrealized gain on investments	26,961		—			1,290			28,251
Net interest and investment income of Consolidated Funds (includes interest expense of $91,452)	—		40,387			7,104			47,491
Net realized and unrealized loss on investments of Consolidated Funds	—		(2,999		)	942			(2,057		)
Total other income	72,891		37,388			4,856			115,135
Income (loss) before taxes	295,271		(5,132		)	7,781			297,920
Income tax expense (benefit)	11,756		(737		)	—			11,019
Net income (loss)	283,515		(4,395		)	7,781			286,901
Less: Net income (loss) attributable to non-controlling interests in Consolidated Funds	—		(4,395		)	7,781			3,386
Less: Net income attributable to redeemable interests in Ares Operating Group entities	456		—			—			456
Less: Net income attributable to non-controlling interests in Ares Operating Group entities	171,251		—			—			171,251
Net income attributable to Ares Management, L.P.	111,808		—			—			111,808
Less: Preferred equity distributions paid	12,176		—			—			12,176
Net income attributable to Ares Management, L.P. common unitholders	$	99,632	$	—		$	—		$	99,632



	For the Year Ended December 31, 2015
	Consolidated Company Entities			Consolidated Funds			Eliminations			Consolidated
Revenues
Management fees (includes ARCC Part I Fees of $121,491)	$	650,918		$	—		$	(16,519	)	$	634,399
Performance fees	146,197			—			4,418			150,615
Administrative and other fees	30,606			—			(1,178		)	29,428
Total revenues	827,721			—			(13,279		)	814,442
Expenses
Compensation and benefits	414,454			—			—			414,454
Performance fee compensation	111,683			—			—			111,683
General, administrative and other expense	224,798			—			—			224,798
Expenses of the Consolidated Funds	—			36,417			(18,312		)	18,105
Total expenses	750,935			36,417			(18,312		)	769,040
Other income (expense)
Net interest and investment expense (includes interest expense of $18,949)	(1,407		)	—			(3,497		)	(4,904		)
Debt extinguishment expense	(11,641		)	—			—			(11,641		)
Other income, net	20,644			—			1,036			21,680
Net realized and unrealized gain on investments	2,784			—			14,225			17,009
Net interest and investment income of Consolidated Funds (includes interest expense of $78,819)	—			31,309			7,245			38,554
Net realized and unrealized loss on investments of Consolidated Funds	—			(17,614		)	(7,002		)	(24,616		)
Total other income (expense)	10,380			13,695			12,007			36,082
Income (loss) before taxes	87,166			(22,722		)	17,040			81,484
Income tax expense	19,060			4			—			19,064
Net income (loss)	68,106			(22,726		)	17,040			62,420
Less: Net loss attributable to non-controlling interests in Consolidated Funds	—			(22,726		)	17,040			(5,686		)
Less: Net income attributable to redeemable interests in Ares Operating Group entities	338			—			—			338
Less: Net income attributable to non-controlling interests in Ares Operating Group entities	48,390			—			—			48,390
Net income attributable to Ares Management, L.P.	$	19,378		$	—		$	—		$	19,378



	For the Year Ended December 31, 2014
	Consolidated Company Entities			Consolidated Funds			Eliminations			Consolidated
Revenues
Management fees (includes ARCC Part I Fees of $118,537)	$	598,046		$	—		$	(111,569	)	$	486,477
Performance fees	226,790			—			(135,378		)	91,412
Administrative and other fees	28,447			—			(2,447		)	26,000
Total revenues	853,283			—			(249,394		)	603,889
Expenses
Compensation and benefits	456,372			—			—			456,372
Performance fee compensation	170,028			—			—			170,028
General, administrative and other expense	166,839			—			—			166,839
Expenses of the Consolidated Funds	—			187,494			(120,694		)	66,800
Total expenses	793,239			187,494			(120,694		)	860,039
Other income (expense)
Net interest and investment income (expense) (includes interest expense of $8,617)	7,339			—			(8,712		)	(1,373		)
Other expense, net	(3,644		)	—			1,222			(2,422		)
Net realized and unrealized gain on investments	78,101			—			(45,973		)	32,128
Net interest and investment income of Consolidated Funds (includes interest expense of $666,373)	—			265,362			6,100			271,462
Net realized and unrealized gain on investments of Consolidated Funds	—			519,790			(6,520		)	513,270
Total other income (expense)	81,796			785,152			(53,883		)	813,065
Income before taxes	141,840			597,658			(182,583		)	556,915
Income tax expense (benefit)	16,536			(5,283		)	—			11,253
Net income	125,304			602,941			(182,583		)	545,662
Less: Net income attributable to redeemable interests in Consolidated Funds	—			3,071			(506		)	2,565
Less: Net income attributable to non-controlling interests in Consolidated Funds	—			599,870			(182,077		)	417,793
Less: Net income attributable to redeemable interests in Ares Operating Group entities	731			—			—			731
Less: Net income attributable to non-controlling interests in Ares Operating Group entities	89,585			—			—			89,585
Net income attributable to Ares Management, L.P.	$	34,988		$	—		$	—		$	34,988

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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