INVESTMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Investments in and Advances to Affiliates [Abstract]

Schedule of Investments Held

The following table summarizes the Company’s investments:

	As of				Percentage of total investments as of
	December 31,				December 31,
	2024		2023		2024	2023
Equity method investments:
Equity method - carried interest	$	3,495,115	$	3,413,007	75.2%	73.8%
Equity method private investment partnership interests - principal	536,912		535,292		11.6	11.6
Equity method private investment partnership interests and other (held at fair value)	411,417		418,778		8.9	9.0
Equity method private investment partnership interests and other	55,461		44,989		1.2	1.0
Total equity method investments	4,498,905		4,412,066		96.9	95.4
Collateralized loan obligations	19,040		20,799		0.4	0.4
Fixed income securities	22,793		105,495		0.5	2.3
Collateralized loan obligations and fixed income securities, at fair value	41,833		126,294		0.9	2.7
Common stock, at fair value	104,037		86,572		2.2	1.9
Total investments	$	4,644,775	$	4,624,932

The following table summarizes investments held in the Consolidated Funds:

	Fair Value as of				Percentage of total investments as of
	December 31,		December 31,		December 31,	December 31,
	2024		2023		2024	2023
Fixed income investments:
Loans and securitization vehicles	$	7,907,449	$	10,616,458	62.1%	72.7%
Money market funds and U.S. treasury securities	550,800		523,038		4.3	3.6
Bonds	418,069		578,949		3.3	4.0
Total fixed income investments	8,876,318		11,718,445		69.7	80.3
Partnership interests	2,000,380		1,642,489		15.7	11.2
Equity securities	1,861,146		1,240,653		14.6	8.5
Total investments, at fair value	$	12,737,844	$	14,601,587

Schedule of Equity Method Investments

The following tables present summarized financial information for the Company’s equity method investments, which are primarily funds managed by the Company:

	As of and for the Year Ended December 31, 2024
	Credit Group		Real Assets Group		Private Equity Group		Secondaries Group		Other		Total
Statement of Financial Condition
Investments	$	24,635,069	$	19,966,560	$	5,906,807	$	15,191,773	$	35,804	$	65,736,013
Total assets	27,987,915		21,368,342		5,897,152		15,632,653		36,519		70,922,581
Total liabilities	6,403,988		7,535,764		151,502		4,304,893		100		18,396,247
Total equity	21,583,927		13,832,578		5,745,650		11,327,760		36,419		52,526,334
Statement of Operations
Revenues	$	2,357,057	$	1,018,717	$	196,756	$	10,508	$	—	$	3,583,038
Expenses	(893,272)		(564,678)		(67,667)		(507,192)		(1,001)		(2,033,810)
Net realized and unrealized gains (losses) from investments	556,170		382,681		496,096		208,947		(417)		1,643,477
Income tax expense	(5,884)		(9,341)		(27,554)		—		—		(42,779)
Net income (loss)	$	2,014,071	$	827,379	$	597,631	$	(287,737)	$	(1,418)	$	3,149,926

	As of and for the Year Ended December 31, 2023
	Credit Group		Real Assets Group		Private Equity Group		Secondaries Group		Other		Total
Statement of Financial Condition
Investments	$	23,032,497	$	17,757,664	$	5,305,566	$	13,497,266	$	38,212	$	59,631,205
Total assets	24,694,682		18,792,446		5,431,332		13,808,556		38,284		62,765,300
Total liabilities	5,163,355		6,528,302		119,894		3,632,879		418		15,444,848
Total equity	19,531,327		12,264,144		5,311,438		10,175,677		37,866		47,320,452
Statement of Operations
Revenues	$	2,584,262	$	1,036,710	$	133,749	$	1,960	$	—	$	3,756,681
Expenses	(862,257)		(632,433)		(88,841)		(482,478)		(1,658)		(2,067,667)
Net realized and unrealized gains (losses) from investments	525,776		(599,200)		322,165		373,064		(7,316)		614,489
Income tax benefit (expense)	(28,334)		(10,197)		22,587		—		(19)		(15,963)
Net income (loss)	$	2,219,447	$	(205,120)	$	389,660	$	(107,454)	$	(8,993)	$	2,287,540

	As of and for the Year Ended December 31, 2022
	Credit Group		Real Assets Group		Private Equity Group		Secondaries Group		Other		Total
Statement of Operations
Revenues	$	1,552,306	$	618,796	$	60,935	$	2,874	$	—	$	2,234,911
Expenses	(515,535)		(357,845)		(76,527)		(289,741)		(1,500)		(1,241,148)
Net realized and unrealized gains (losses) from investments	(230,076)		304,068		(239,720)		(11,173)		1,365		(175,536)
Income tax benefit (expense)	(5,870)		(36,501)		1,238		—		(10)		(41,143)
Net income (loss)	$	800,825	$	528,518	$	(254,074)	$	(298,040)	$	(145)	$	777,084

The following table presents the Company’s other income, net from its equity method investments, which were included within principal investment income, net realized and unrealized gains on investments, and interest and dividend income within the Consolidated Statements of Operations:

	Year ended December 31,
	2024		2023		2022
Total other income, net related to equity method investments	$	52,350	$	86,729	$	21,657

The following table summarizes the changes in fair value of the Company’s equity method investments held at fair value, which are included within net realized and unrealized gains on investments within the Consolidated Statements of Operations:

	Year ended December 31,
	2024		2023		2022
Equity method private investment partnership interests and other (held at fair value)	$	(4,762)	$	50,772	$	5,626