Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
Sep. 30, 2018	Sep. 30, 2017
Cash flows from operating activities:
Net income	$ 135,802	$ 41,375
Adjustments to reconcile net income to net cash used in operating activities	268,526	(52,314)
Cash flows due to changes in operating assets and liabilities	90,096	(78,593)
Net cash used in operating activities	(1,723,258)	(1,192,250)
Cash flows from investing activities:
Purchase of furniture, equipment and leasehold improvements, net	(14,437)	(27,926)
Net cash used in investing activities	(14,437)	(27,926)
Allocable to non-controlling interests in Consolidated Funds:
Net cash provided by financing activities	1,733,046	1,051,647
Ares Management L.P
Cash flows from financing activities:
Proceeds from issuance of common shares	105,333	0
Proceeds from credit facility	410,000	245,000
Proceeds from term notes	44,050	70,009
Repayments of credit facility	(515,000)	(135,000)
Repayments of term loans	(206,089)	0
Distributions	(247,189)	(169,008)
Preferred equity distributions	(16,275)	(16,275)
Taxes paid in net settlement of vested common shares	(17,376)	(13,910)
Stock option exercise	950	1,036
Tax from share-based payment	44	81
Other financing activities	1,681	1,541
Allocable to non-controlling interests in Consolidated Funds:
Effect of exchange rate changes	7,912	12,105
Net change in cash and cash equivalents	3,263	(156,424)
Cash and cash equivalents, beginning of period	118,929	342,861
Cash and cash equivalents, end of period	122,192	186,437
Consolidated Funds
Cash flows from operating activities:
Adjustments to reconcile net income to net cash used in operating activities	(2,181,999)	(1,157,088)
Cash flows due to changes in operating assets and liabilities	(35,683)	54,370
Allocable to non-controlling interests in Consolidated Funds:
Contributions from non-controlling interests in Consolidated Funds	70,990	145,717
Distributions to non-controlling interests in Consolidated Funds	(46,795)	(49,084)
Borrowings under loan obligations by Consolidated Funds	3,135,421	2,438,491
Repayments under loan obligations by Consolidated Funds	(986,699)	$ (1,466,951)
Cash and cash equivalents, beginning of period	556,500
Cash and cash equivalents, end of period	$ 760,581

Amount of cash distribution paid to preferred unit-holder of limited partnership (LP).

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