MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Tables)

9 Months Ended

Sep. 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 September 30, 2015		Nine months ended September 30, 2015		Three months ended September 30, 2014		Five months ended September 30, 2014		Four months ended April 30, 2014
Base management fees, net	$	2,633	$	8,096	$	4,986	$	10,927	$	5,253
CLO management fees	6,816		21,390		7,558		12,023		11,016
Incentive fees	—		—		—		—		12,882
Manager share-based compensation	—		—		—		—		690
Total related party management compensation	$	9,449	$	29,486	$	12,544	$	22,950	$	29,841

Schedule of estimate fair value of contributions and distributions

The table below summarizes the estimated fair value of contributions and distributions at the time of transfer, certain of which were different from the carrying value of assets transferred (amounts in thousands):

	Three months ended September 30, 2014
Cash	$	235,759
Securities	22,873
Loans	13,464
Interests in joint ventures and partnerships	19,433
Total contributions from Parent	$	291,529
Cash	$	14,370
Equity investments, at estimated fair value	101,042
Oil and gas properties, net	179,203
Total distributions to Parent	$	294,615

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 September 30, 2015			Nine months  ended September 30, 2015			Three months  ended September 30, 2014			Five months  ended September 30, 2014			Four months ended April 30, 2014
Base management fees, gross	$	7,702		$	24,029		$	9,846		$	16,534		$	13,364
CLO management fees credit(1)	(5,069		)	(15,933		)	(4,860		)	(5,607		)	(8,111		)
Other related party fees credit	—			—			—			—			—
Total base management fees, net	$	2,633		$	8,096		$	4,986		$	10,927		$	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 September 30, 2015		Nine months  ended September 30, 2015		Three months  ended September 30, 2014			Five months  ended September 30, 2014			Four months ended April 30, 2014
Charged and retained CLO management fees(1)	$	1,747	$	5,457	$	12,418		$	17,630		$	2,905
CLO management fees credit	5,069		15,933		(4,860		)	(5,607		)	8,111
Total CLO management fees	$	6,816	$	21,390	$	7,558		$	12,023		$	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.