MANAGEMENT AGREEMENT AND RELATED PARTY TRANSACTIONS (Tables)

12 Months Ended

Dec. 31, 2016

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 consolidated statements of operations, which are described in further detail below (amounts in thousands):

	Successor Company						Predecessor Company
	Year ended December 31, 2016		Year ended December 31, 2015		Eight months ended December 31, 2014		Four months ended April 30, 2014
Base management fees, net	$	7,137	$	9,532	$	15,145	$	5,253
CLO management fees	23,367		28,554		18,619		11,016
Incentive fees	—		—		—		12,882
Manager share-based compensation	—		—		—		690
Total related party management compensation	$	30,504	$	38,086	$	33,764	$	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):

	Year ended December 31, 2016		Year ended December 31, 2015		Eight months ended December 31, 2014
Cash	$	267,038	$	—	$	235,759
Securities	—		—		116,526
Loans	—		—		16,049
Equity investments, at estimated fair value	—		—		38,346
Interests in joint ventures and partnerships	64,151		251,748		67,310
Other	—		—		854
Total contributions from Parent	$	331,189	$	251,748	$	474,844
Cash	$	64,151	$	251,748	$	192,037
Loans	77,921		—		—
Equity investments, at estimated fair value	58,439		—		101,042
Oil and gas properties, net	—		—		179,203
CLO subordinated notes	127,581		—		—
Interests in joint ventures and partnerships	4,066		$	—	—
Total distributions to Parent	$	332,158	$	251,748	$	472,282

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
	Year ended December 31, 2016			Year ended December 31, 2015			Eight months ended December 31, 2014			Four months ended April 30, 2014
Base management fees, gross	$	22,249		$	30,620		$	25,883		$	13,364
CLO management fees credit(1)	(15,112		)	(21,088		)	(9,968		)	(8,111		)
Other related party fees credit	—			—			(770		)	—
Total base management fees, net	$	7,137		$	9,532		$	15,145		$	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
	Year ended December 31, 2016		Year ended December 31, 2015		Eight months ended December 31, 2014		Four months ended April 30, 2014
Charged and retained CLO management fees(1)	$	8,255	$	7,466	$	8,651	$	2,905
CLO management fees credit	15,112		21,088		9,968		8,111
Total CLO management fees	$	23,367	$	28,554	$	18,619	$	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.