INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2017

Investments in and Advances to Affiliates, Schedule of Investments [Abstract]

Summary of investments held

Investments held in the Consolidated Funds are summarized below:

	Fair value at				Fair value as a percentage of total investments at
	March 31,		December 31,		March 31,		December 31,
	2017		2016		2017		2016
United States:
Fixed income securities:
Consumer discretionary	$	697,226	$	665,773	20.6	%	20.0	%
Consumer staples	60,918		64,840		1.8	%	1.9	%
Energy	56,638		45,409		1.7	%	1.4	%
Financials	152,241		139,285		4.5	%	4.2	%
Healthcare, education and childcare	230,378		246,403		6.8	%	7.4	%
Industrials	142,002		149,632		4.2	%	4.5	%
Information technology	161,950		194,394		4.8	%	5.8	%
Materials	137,548		139,994		4.0	%	4.2	%
Telecommunication services	255,755		261,771		7.5	%	7.9	%
Utilities	28,121		47,800		0.8	%	1.4	%
Total fixed income securities (cost: $1,919,405 and $1,945,977 at March 31, 2017 and December 31, 2016, respectively)	1,922,777		1,955,301		56.7	%	58.7	%
Equity securities:
Energy	444		421		0.0	%	0.0	%
Partnership and LLC interests	196,690		171,696		5.8	%	5.2	%
Total equity securities (cost: $172,872 and $149,872 at March 31, 2017 and December 31, 2016, respectively)	197,134		172,117		5.8	%	5.2	%

	Fair value at				Fair value as a percentage of total investments at
	March 31,		December 31,		March 31,		December 31,
	2017		2016		2017		2016
Europe:
Fixed income securities:
Consumer discretionary	$	314,705	$	274,678	9.2	%	8.2	%
Consumer staples	39,077		39,197		1.1	%	1.2	%
Financials	39,491		28,769		1.2	%	0.9	%
Healthcare, education and childcare	115,639		111,589		3.4	%	3.4	%
Industrials	124,818		118,466		3.7	%	3.6	%
Information technology	37,476		49,507		1.1	%	1.5	%
Materials	130,887		124,629		3.8	%	3.7	%
Telecommunication services	136,484		118,632		4.0	%	3.6	%
Utilities	11,512		4,007		0.3	%	0.1	%
Total fixed income securities (cost: $992,614 and $892,108 at March 31, 2017 and December 31, 2016, respectively)	950,089		869,474		27.8	%	26.2	%
Equity securities:
Consumer staples	1,538		1,517		0.0	%	0.0	%
Healthcare, education and childcare	41,524		41,329		1.2	%	1.2	%
Telecommunication services	24		24		0.0	%	0.0	%
Total equity securities (cost: $67,266 and $67,290 at March 31, 2017 and December 31, 2016, respectively)	43,086		42,870		1.2	%	1.2	%
Asia and other:
Fixed income securities:
Consumer discretionary	15,281		24,244		0.4	%	0.7	%
Financials	—		1,238		—	%	0.0	%
Healthcare, education and childcare	—		10,010		—	%	0.3	%
Telecommunication services	8,119		8,696		0.2	%	0.3	%
Total fixed income securities (cost: $23,175 and $46,545 at March 31, 2017 and December 31, 2016, respectively)	23,400		44,188		0.6	%	1.3	%
Equity securities:
Consumer discretionary	47,689		44,642		1.4	%	1.3	%
Consumer staples	50,078		50,101		1.5	%	1.5	%
Healthcare, education and childcare	44,637		32,598		1.3	%	1.0	%
Industrials	16,578		16,578		0.5	%	0.5	%
Total equity securities (cost: $122,418 and $122,418 at March 31, 2017 and December 31, 2016, respectively)	158,982		143,919		4.7	%	4.3	%

	Fair value at				Fair value as a percentage of total investments at
	March 31,		December 31,		March 31,		December 31,
	2017		2016		2017		2016
Canada:
Fixed income securities:
Consumer discretionary	$	1,374	$	—	0.0	%	—	%
Consumer staples	5,205		5,256		0.2	%	0.2	%
Energy	13,083		12,830		0.4	%	0.4	%
Healthcare, education and childcare	15,233		15,509		0.4	%	0.5	%
Industrials	1,395		1,401		0.0	%	0.0	%
Telecommunication services	12,296		13,852		0.4	%	0.4	%
Total fixed income securities (cost: $47,982 and $48,274 at March 31, 2017 and December 31, 2016, respectively)	48,586		48,848		1.4	%	1.5	%
Equity securities:
Consumer discretionary	6,160		164		0.2	%	0.0	%
Total equity securities (cost: $17,202 and $408 at March 31, 2017 and December 31, 2016, respectively)	6,160		164		0.2	%	0.0	%
Australia:
Fixed income securities:
Consumer discretionary	5,461		5,627		0.2	%	0.2	%
Energy	2,681		6,046		0.1	%	0.2	%
Industrials	1,450		2,926		0.0	%	0.1	%
Utilities	21,110		21,154		0.6	%	0.6	%
Total fixed income securities (cost: $31,607 and $37,975 at March 31, 2017 and December 31, 2016, respectively)	30,702		35,753		0.9	%	1.1	%
Equity securities:
Utilities	24,975		17,569		0.7	%	0.5	%
Total equity securities (cost: $18,442 and $18,442 at March 31, 2017 and December 31, 2016, respectively)	24,975		17,569		0.7	%	0.5	%
Total fixed income securities	2,975,554		2,953,564		87.4	%	88.8	%
Total equity securities	430,337		376,639		12.6	%	11.2	%
Total investments, at fair value	$	3,405,891	$	3,330,203

	Fair value at				Fair value as a percentage of total investments at
	March 31,		December 31,		March 31,		December 31,
	2017		2016		2017		2016
Private Investment Partnership Interests:
AREA Sponsor Holdings, LLC	$	26,743	$	28,898	6.0	%	6.8	%
ACE II Master Fund, L.P. (1)(2)	20,409		22,042		4.6	%	5.2	%
Ares Corporate Opportunities Fund III, L.P.	94,358		97,549		21.1	%	22.9	%
Ares Corporate Opportunities Fund IV, L.P. (2)	40,776		37,308		9.1	%	8.7	%
Resolution Life L.P.	33,410		33,410		7.5	%	7.8	%
Other private investment partnership interests (1)(3)	121,112		118,075		27.1	%	27.7	%
Total private investment partnership interests (cost: $257,925 and $256,638 at March 31, 2017 and December 31, 2016, respectively)	336,808		337,282		75.4	%	79.1	%
Collateralized Loan Obligations Interests:
Collateralized loan obligations(3)	108,253		89,111		24.3	%	20.9	%
Total collateralized loan obligations (cost: $108,436 and $89,743 at March 31, 2017 and December 31, 2016, respectively)	108,253		89,111		24.3	%	20.9	%
Common Stock:
Common stock(3)	1,317		100		0.3	%	0.0	%
Total common stock (cost: $1,126 and $124 at March 31, 2017 and December 31, 2016, respectively)	1,317		100		0.3	%	0.0	%
Total fair value investments (cost: $367,487 and $346,505 at March 31, 2017 and December 31, 2016, respectively)	$	446,378	$	426,493

(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 assets.

Schedule of equity method investments

The Company's equity method investments, including those where the fair value option was elected, are summarized below:

	As of March 31,		As of December 31,
	2017		2016
Equity method investment	$	3,802	$	3,616
Equity method investments at fair value	21,540		21,843
Total equity method investments	$	25,342	$	25,459

Summary of cost and fair value of investments classified as HTM

A summary of the cost and fair value of CLO notes classified as held-to maturity investments is as follows:

	As of March 31,		As of December 31,
	2017		2016
Amortized cost	$	16,760	$	16,519
Unrealized gain (loss), net	43		(116		)
Fair value	$	16,803	$	16,403