Carried Interest Receivable

6 Months Ended

Jun. 30, 2013

Text Block [Abstract]

Carried Interest Receivable

5. CARRIED INTEREST RECEIVABLE

Carried interest receivable from private equity, credit and real estate funds consists of the following:

	June 30, 2013		December 31, 2012
Private equity	$	1,601,253	$	1,413,306
Credit		408,882		454,155
Real Estate		4,610		10,795
Total Carried Interest Receivable	$	2,014,745	$	1,878,256

The table below provides a roll-forward of the carried interest receivable balance for the six months ended June 30, 2013:

	Private Equity			Credit			Real Estate			Total
Carried interest receivable, January 1, 2013	$	1,413,306		$	454,155		$	10,795		$	1,878,256
Change in fair value of funds(1)		1,219,583			154,741			(5,329	)		1,368,995
Fund cash distributions to the Company		(1,031,636	)		(200,014	)		(856	)		(1,232,506	)
Carried Interest Receivable, June 30, 2013	$	1,601,253		$	408,882		$	4,610		$	2,014,745

(1) Included in change in fair value of funds for the six months ended June 30, 2013 was a reversal of $19.3 million of the entire general partner obligation to return previously distributed carried interest income with respect to SOMA. The general partner obligation is recognized based upon a hypothetical liquidation of the fund’s net assets as of the balance sheet date. The actual determination and any required payment of any such general partner obligation would not take place until the final disposition of a fund’s investments based on the contractual termination of the fund.