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MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Tables)
6 Months Ended
Jun. 30, 2015
Management Agreement and Related Party Transactions  
Summary of components of related party management compensation
The following table summarizes the components of related party management compensation on the Company’s condensed consolidated statements of operations, which are described in further detail below (amounts in thousands):
 
 
Successor Company
 
 
Predecessor Company
 
Three months ended June 30, 2015
 
Six months ended June 30, 2015
 
Two months ended June 30, 2014
 
 
One month ended April 30, 2014
 
Four months ended April 30, 2014
Base management fees, net
$
1,410

 
$
5,463

 
$
5,941

 
 
$
1,631

 
$
5,253

CLO management fees
8,407

 
14,574

 
4,465

 
 
2,480

 
11,016

Incentive fees

 

 

 
 

 
12,882

Manager share-based compensation

 

 

 
 
113

 
690

Total related party management compensation
$
9,817

 
$
20,037

 
$
10,406

 
 
$
4,224

 
$
29,841

Base Management Fees  
Management Agreement and Related Party Transactions  
Summary of components of related party management compensation
The table below summarizes the aggregate base management fees (amounts in thousands):
 
 
Successor Company
 
 
Predecessor Company
 
 
Three months 
ended
 June 30, 2015
 
Six months
ended
June 30, 2015
 
Two months
ended
June 30, 2014
 
 
One month
ended
April 30, 2014
 
Four months ended
April 30, 2014
 
Base management fees, gross
$
7,836

 
$
16,327

 
$
6,688

 
 
$
3,372

 
$
13,364

 
CLO management fees credit(1)
(6,426
)
 
(10,864
)
 
(747
)
 
 
(1,741
)
 
(8,111
)
 
Other related party fees credit

 

 

 
 

 

 
Total base management fees, net
$
1,410

 
$
5,463

 
$
5,941

 
 
$
1,631

 
$
5,253

 
 
 
 
 
 
(1)
See “CLO Management Fees” for further discussion.
CLO Management Fees  
Management Agreement and Related Party Transactions  
Summary of components of related party management compensation
The table below summarizes the aggregate CLO management fees, including the Fee Credits (amounts in thousands):
 
 
Successor Company
 
 
Predecessor Company
 
 
Three months ended
June 30, 2015
 
Six months ended
June 30, 2015
 
Two months ended June 30, 2014
 
 
One month ended April 30, 2014
 
Four months ended
April 30, 2014
 
Charged and retained CLO management fees(1)
$
1,981

 
$
3,710

 
$
3,718

 
 
$
739

 
$
2,905

 
CLO management fees credit
6,426

 
10,864

 
747

 
 
1,741

 
8,111

 
Total CLO management fees
$
8,407

 
$
14,574

 
$
4,465

 
 
$
2,480

 
$
11,016

 
 
 
 
 
 
(1)
Represents management fees incurred by the senior and subordinated note holders of a CLO, excluding the Fee Credits received by the Company based on its ownership percentage in the CLO.