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INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2025
Investments in and Advances to Affiliates [Abstract]  
Schedule of Investments Held
The following table summarizes the Company’s investments:
As ofPercentage of total investments as of
December 31,December 31,
2025202420252024
Equity method investments
Equity method - carried interest(1)
$3,972,748 $3,495,115 72.1%75.2%
Equity method private investment partnership interests - principal526,372 536,912 9.611.6
Equity method private investment partnership interests and other (held at fair value)675,777 411,417 12.38.9
Equity method private investment partnership interests and other61,306 55,461 1.11.2
Total equity method investments5,236,203 4,498,905 95.196.9
Collateralized loan obligations13,217 19,040 0.20.4
Fixed income securities11,252 22,793 0.20.5
Collateralized loan obligations and fixed income securities, at fair value24,469 41,833 0.40.9
Common stock and other equity securities, at fair value247,775 104,037 4.52.2
Total investments$5,508,447 $4,644,775 
(1)Includes carried interest held at fair value of $118.1 million as of December 31, 2025.
The following table summarizes investments held in the Consolidated Funds:
Fair Value as ofPercentage of total investments as of
December 31,December 31,
2025202420252024
Fixed income investments
Loans and securitization vehicles$5,507,199 $7,907,449 42.9%62.1%
U.S. treasury securities— 550,800 —4.3
Bonds280,911 418,069 2.23.3
Total fixed income investments5,788,110 8,876,318 45.169.7
Partnership interests3,791,056 2,000,380 29.615.7
Equity securities3,265,720 1,861,146 25.414.6
Total investments, at fair value$12,844,886 $12,737,844 
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, 2025
Credit GroupReal Assets GroupSecondaries GroupPrivate Equity Group
Other
Total
Statement of Financial Condition
Investments$29,976,380 $36,607,529 $8,018,942 $6,070,640 $95,963 $80,769,454 
Total assets34,026,287 38,857,374 8,216,784 6,170,635 98,950 87,370,030 
Total liabilities7,857,741 14,995,035 1,976,349 189,556 974 25,019,655 
Total equity26,168,546 23,862,339 6,240,435 5,981,079 97,976 62,350,375 
Statement of Operations
Interest and dividend income$2,619,911 $1,386,146 $1,385 $114,025 $— $4,121,467 
Expenses(879,571)(806,547)(195,787)(80,679)(3,354)(1,965,938)
Net realized and unrealized gains (losses) from investments327,980 787,161 533,124 680,687 (7,842)2,321,110 
Income tax expense(10,000)(26,417)— (752)— (37,169)
Net income (loss)$2,058,320 $1,340,343 $338,722 $713,281 $(11,196)$4,439,470 
As of and for the Year Ended December 31, 2024
Credit GroupReal Assets GroupSecondaries GroupPrivate Equity Group
Other
Total
Statement of Financial Condition
Investments$24,635,069 $19,966,560 $15,191,773 $5,906,807 $35,804 $65,736,013 
Total assets27,987,915 21,368,342 15,632,653 5,897,152 36,519 70,922,581 
Total liabilities6,403,988 7,535,764 4,304,893 151,502 100 18,396,247 
Total equity21,583,927 13,832,578 11,327,760 5,745,650 36,419 52,526,334 
Statement of Operations
Interest and dividend income$2,357,057 $1,018,717 $10,508 $196,756 $— $3,583,038 
Expenses(893,272)(564,678)(507,192)(67,667)(1,001)(2,033,810)
Net realized and unrealized gains (losses) from investments556,170 382,681 208,947 496,096 (417)1,643,477 
Income tax expense(5,884)(9,341)— (27,554)— (42,779)
Net income (loss)$2,014,071 $827,379 $(287,737)$597,631 $(1,418)$3,149,926 
As of and for the Year Ended December 31, 2023
Credit GroupReal Assets GroupSecondaries GroupPrivate Equity Group
Other
Total
Statement of Operations
Interest and dividend income$2,584,262 $1,036,710 $1,960 $133,749 $— $3,756,681 
Expenses(862,257)(632,433)(482,478)(88,841)(1,658)(2,067,667)
Net realized and unrealized gains (losses) from investments525,776 (599,200)373,064 322,165 (7,316)614,489 
Income tax benefit (expense)(28,334)(10,197)— 22,587 (19)(15,963)
Net income (loss)$2,219,447 $(205,120)$(107,454)$389,660 $(8,993)$2,287,540 
The following table presents the Company’s share of net investment income and net realized and unrealized gains (losses) from its equity method investments, which are 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,
202520242023
Total net investment income and net realized and unrealized gains (losses) related to equity method investments$319,286 $52,350 $86,729 
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,
202520242023
Equity method private investment partnership interests and other (held at fair value)$258,148 $(4,762)$50,772