Asset Management Fees (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents the sources of asset management fees on a consolidated basis.

Asset Management Fees

	First Quarter 2020
	(in millions)
Management fees:
CLOs (1)	$	4
Opportunity funds	2
Wind-down funds	9
Total management fees	15
Reimbursable fund expenses	8
Total asset management fees (2)	$	23

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(1)

To the extent that the Company's wind-down and/or opportunity funds are invested in BlueMountain managed CLOs, BlueMountain may rebate any management fees and/or performance compensation earned from the CLOs to the extent such fees are attributable to the wind-down and opportunity funds’ holdings of CLOs also managed by BlueMountain. Gross management fees from CLOs, before rebates, were $10 million.