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CONSOLIDATION (Tables)
9 Months Ended
Sep. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Schedule of interest in VIEs
The Company's interests and the Consolidated Funds' interests in consolidated and non-consolidated VIEs, as presented in the Condensed Consolidated Statements of Financial Condition, and their respective maximum exposure to loss relating to non-consolidated VIEs are as follows:
 
As of September 30,
 
As of December 31,
 
2017
 
2016
Maximum exposure to loss attributable to the Company's investment in non-consolidated VIEs
$
364,860

 
$
268,950

Maximum exposure to loss attributable to the Company's investment in consolidated VIEs
$
162,295

 
$
153,746

Assets of consolidated VIEs
$
5,760,754

 
$
3,822,010

Liabilities of consolidated VIEs
$
5,152,179

 
$
3,360,329

 
For the Three Months Ended 
 September 30,
 
For the Nine Months Ended 
 September 30,
 
2017
 
2016
 
2017
 
2016
Net income (loss) attributable to non-controlling interests related to consolidated VIEs
$
18,195

 
$
7,861

 
$
25,403

 
$
(3,064
)
Schedule of consolidating effects of the Consolidated Funds on the Company's financial condition
The following supplemental financial information illustrates the consolidating effects of the Consolidated Funds on the Company's financial condition as of September 30, 2017 and December 31, 2016 and results from operations for the three and nine months ended September 30, 2017 and 2016.  
 
As of September 30, 2017
 
Consolidated
Company 
Entities 
 
Consolidated
Funds 
 
Eliminations 
 
Consolidated 
Assets
 

 
 

 
 

 
 

Cash and cash equivalents
$
186,437

 
$

 
$

 
$
186,437

Investments (includes fair value investments of $581,614)
746,990

 

 
(162,295
)
 
584,695

Performance fees receivable
1,001,581

 

 
(4,003
)
 
997,578

Due from affiliates
166,214

 

 
(4,782
)
 
161,432

Deferred tax asset, net
36,661

 

 

 
36,661

Other assets
103,885

 

 

 
103,885

Intangible assets, net
44,115

 

 

 
44,115

Goodwill
143,880

 

 

 
143,880

Assets of Consolidated Funds
 

 
 

 
 

 


Cash and cash equivalents

 
799,609

 

 
799,609

Investments, at fair value

 
4,915,029

 

 
4,915,029

Due from affiliates

 
8,047

 

 
8,047

Dividends and interest receivable

 
10,061

 

 
10,061

Receivable for securities sold

 
25,926

 

 
25,926

Other assets

 
2,082

 

 
2,082

Total assets
$
2,429,763

 
$
5,760,754

 
$
(171,080
)
 
$
8,019,437

Liabilities
 

 
 

 
 

 
 

Accounts payable, accrued expenses and other liabilities
$
94,351

 
$

 
$

 
$
94,351

Accrued compensation
133,799

 

 

 
133,799

Due to affiliates
17,207

 

 

 
17,207

Performance fee compensation payable
780,201

 

 

 
780,201

Debt obligations
486,007

 

 

 
486,007

Liabilities of Consolidated Funds
 

 
 

 
 

 


Accounts payable, accrued expenses and other liabilities

 
50,992

 

 
50,992

Due to affiliates

 
8,786

 
(8,786
)
 

Payable for securities purchased

 
481,055

 

 
481,055

CLO loan obligations, at fair value

 
4,490,085

 
(13,442
)
 
4,476,643

Fund borrowings

 
121,261

 

 
121,261

Total liabilities
1,511,565

 
5,152,179

 
(22,228
)
 
6,641,516

Commitments and contingencies


 


 


 


Preferred equity (12,400,000 units issued and outstanding)
298,761

 

 

 
298,761

Non-controlling interest in Consolidated Funds

 
608,575

 
(148,852
)
 
459,723

Non-controlling interest in Ares Operating Group entities
348,513

 

 

 
348,513

Controlling interest in Ares Management, L.P.:
 

 
 

 
 

 


Partners' capital (82,211,302 units issued and outstanding)
275,410

 

 

 
275,410

Accumulated other comprehensive loss, net of tax
(4,486
)
 

 

 
(4,486
)
Total controlling interest in Ares Management, L.P.
270,924

 

 

 
270,924

Total equity
918,198


608,575


(148,852
)

1,377,921

Total liabilities and equity
$
2,429,763


$
5,760,754


$
(171,080
)

$
8,019,437

 
As of December 31, 2016
 
Consolidated
Company 
Entities 
 
Consolidated
Funds 
 
Eliminations
 
Consolidated 
Assets
 
 
 

 
 

 
 

Cash and cash equivalents
$
342,861

 
$

 
$

 
$
342,861

Investments (includes fair value investments of $448,336)
622,215

 

 
(153,744
)
 
468,471

Performance fees receivable
767,429

 

 
(8,330
)
 
759,099

Due from affiliates
169,252

 

 
(6,316
)
 
162,936

Deferred tax asset, net
6,731

 

 

 
6,731

Other assets
65,565

 

 

 
65,565

Intangible assets, net
58,315

 

 

 
58,315

Goodwill
143,724

 

 

 
143,724

Assets of Consolidated Funds
 
 
 

 
 

 


Cash and cash equivalents

 
455,280

 

 
455,280

Investments, at fair value

 
3,330,203

 

 
3,330,203

Due from affiliates

 
3,592

 

 
3,592

Dividends and interest receivable

 
8,479

 

 
8,479

Receivable for securities sold

 
21,955

 

 
21,955

Other assets

 
2,501

 

 
2,501

Total assets
$
2,176,092


$
3,822,010


$
(168,390
)

$
5,829,712

Liabilities
 
 
 

 
 

 
 

Accounts payable, accrued expenses and other liabilities
$
83,336

 
$

 
$

 
$
83,336

Accrued compensation
131,736

 

 

 
131,736

Due to affiliates
17,959

 

 
(395
)
 
17,564

Performance fee compensation payable
598,050

 

 

 
598,050

Debt obligations
305,784

 

 

 
305,784

Liabilities of Consolidated Funds
 
 
 

 
 

 


Accounts payable, accrued expenses and other liabilities

 
21,056

 

 
21,056

Due to affiliates

 
10,599

 
(10,599
)
 

Payable for securities purchased

 
208,742

 

 
208,742

CLO loan obligations, at fair value

 
3,064,862

 
(33,750
)
 
3,031,112

Fund borrowings

 
55,070

 

 
55,070

Total liabilities
1,136,865


3,360,329


(44,744
)

4,452,450

Commitments and contingencies


 


 


 


Preferred equity (12,400,000 units issued and outstanding)
298,761

 

 

 
298,761

Non-controlling interest in Consolidated Funds

 
461,681

 
(123,646
)
 
338,035

Non-controlling interest in Ares Operating Group entities
447,615

 

 

 
447,615

Controlling interest in Ares Management, L.P.:
 

 
 

 
 

 
 

Partners' capital (80,814,732 units issued and outstanding)
301,790

 

 

 
301,790

Accumulated other comprehensive loss, net of tax
(8,939
)
 

 

 
(8,939
)
Total controlling interest in Ares Management, L.P.
292,851

 

 

 
292,851

Total equity
1,039,227


461,681


(123,646
)

1,377,262

Total liabilities and equity
$
2,176,092


$
3,822,010


$
(168,390
)
 
$
5,829,712

Schedule of results from operations
 
For the Three Months Ended September 30, 2017
 
Consolidated
Company 
Entities 
 
Consolidated
Funds 
 
Eliminations 
 
Consolidated 
Revenues
 

 
 

 
 

 
 

Management fees (includes ARCC Part I Fees of $24,036)
$
188,628

 
$

 
$
(5,451
)
 
$
183,177

Performance fees
88,379

 

 
(1,371
)
 
87,008

Administrative and other fees
13,486

 

 

 
13,486

Total revenues
290,493




(6,822
)

283,671

Expenses
 

 
 

 
 

 
 
Compensation and benefits
129,347

 

 

 
129,347

Performance fee compensation
58,637

 

 

 
58,637

General, administrative and other expense
47,104

 

 

 
47,104

Expenses of the Consolidated Funds

 
25,862

 
(6,823
)
 
19,039

Total expenses
235,088


25,862


(6,823
)

254,127

Other income (expense)
 

 
 

 
 

 
 
Investment income and net interest expense (includes interest expense of $5,343)
(1,606
)
 

 
(225
)
 
(1,831
)
Other expense, net
(2,492
)
 

 

 
(2,492
)
Net realized and unrealized gain on investments
17,724

 

 
(10,515
)
 
7,209

Investment income and net interest income of the Consolidated Funds (includes interest expense of $28,127)

 
7,169

 
12,885

 
20,054

Net realized and unrealized gain on investments of the Consolidated Funds

 
48,058

 
(12,118
)
 
35,940

Total other income
13,626


55,227


(9,973
)

58,880

Income before taxes
69,031


29,365


(9,972
)

88,424

Income tax expense
3,354

 
1,198

 

 
4,552

Net income
65,677


28,167


(9,972
)

83,872

Less: Net income attributable to non-controlling interests in Consolidated Funds

 
28,167

 
(9,972
)
 
18,195

Less: Net income attributable to non-controlling interests in Ares Operating Group entities
37,839

 

 

 
37,839

Net income attributable to Ares Management, L.P.
27,838






27,838

Less: Preferred equity distributions paid
5,425

 

 

 
5,425

Net income attributable to Ares Management, L.P. common unitholders
$
22,413


$


$


$
22,413

 
For the Three Months Ended September 30, 2016
 
Consolidated
Company 
Entities 
 
Consolidated
Funds 
 
Eliminations 
 
Consolidated 
Revenues
 

 
 

 
 

 
 

Management fees (includes ARCC Part I Fees of $33,260)
$
168,796

 
$

 
$
(5,187
)
 
$
163,609

Performance fees
165,281

 

 
(799
)
 
164,482

Administrative and other fees
7,369

 

 

 
7,369

Total revenues
341,446




(5,986
)

335,460

Expenses
 

 
 

 
 

 
 
Compensation and benefits
111,916

 

 

 
111,916

Performance fee compensation
123,173

 

 

 
123,173

General, administrative and other expense
38,197

 

 

 
38,197

Expenses of the Consolidated Funds

 
16,068

 
(5,980
)
 
10,088

Total expenses
273,286


16,068


(5,980
)

283,374

Other income (expense)
 

 
 

 
 

 
 
Investment income and net interest expense (includes interest expense of $4,136)
(675
)
 

 
(1,006
)
 
(1,681
)
Other income, net
23,042

 

 

 
23,042

Net realized and unrealized gain on investments
26,340

 

 
(6,982
)
 
19,358

Investment income and net interest income of the Consolidated Funds (includes interest expense of $26,413)

 
6,525

 
2,212

 
8,737

Net realized and unrealized gain on investments of the Consolidated Funds

 
23,656

 
227

 
23,883

Total other income
48,707

 
30,181

 
(5,549
)
 
73,339

Income before taxes
116,867


14,113


(5,555
)

125,425

Income tax expense
6,944

 
697

 

 
7,641

Net income
109,923

 
13,416

 
(5,555
)
 
117,784

Less: Net income attributable to non-controlling interests in Consolidated Funds

 
13,416

 
(5,555
)
 
7,861

Less: Net income attributable to redeemable interests in Ares Operating Group entities
107

 

 

 
107

Less: Net income attributable to non-controlling interests in Ares Operating Group entities
66,511

 

 

 
66,511

Net income attributable to Ares Management, L.P.
43,305






43,305

Less: Preferred equity distributions paid
6,751

 

 

 
6,751

Net income attributable to Ares Management, L.P. common unitholders
$
36,554


$


$


$
36,554

 
 
For the Nine Months Ended September 30, 2017
 
Consolidated
Company 
Entities 
 
Consolidated
Funds 
 
Eliminations 
 
Consolidated 
Revenues
 

 
 

 
 

 
 

Management fees (includes ARCC Part I Fees of $76,436)
$
550,969

 
$

 
$
(14,979
)
 
$
535,990

Performance fees
483,963

 

 
(3,759
)
 
480,204

Administrative and other fees
43,024

 

 

 
43,024

Total revenues
1,077,956




(18,738
)

1,059,218

Expenses
 

 
 

 
 

 
 
Compensation and benefits
384,905

 

 

 
384,905

Performance fee compensation
361,044

 

 

 
361,044

General, administrative and other expense
145,193

 

 

 
145,193

Transaction support expense
275,177

 

 

 
275,177

Expenses of the Consolidated Funds

 
45,196

 
(17,724
)
 
27,472

Total expenses
1,166,319


45,196


(17,724
)

1,193,791

Other income (expense)
 

 
 

 
 

 
 
Investment income and net interest expense (includes interest expense of $15,576)
(4,064
)
 

 
(2,154
)
 
(6,218
)
Other income, net
16,826

 

 

 
16,826

Net realized and unrealized gain on investments
61,052

 

 
(21,109
)
 
39,943

Investment income and net interest income of the Consolidated Funds (includes interest expense of $86,324)

 
11,072

 
30,603

 
41,675

Net realized and unrealized gain on investments of the Consolidated Funds

 
79,450

 
(24,187
)
 
55,263

Total other income
73,814


90,522


(16,847
)

147,489

Income (loss) before taxes
(14,549
)

45,326


(17,861
)

12,916

Income tax expense (benefit)
(30,521
)
 
2,062

 

 
(28,459
)
Net income
15,972


43,264


(17,861
)

41,375

Less: Net income attributable to non-controlling interests in Consolidated Funds

 
43,264

 
(17,861
)
 
25,403

Less: Net loss attributable to non-controlling interests in Ares Operating Group entities
(20,610
)
 

 

 
(20,610
)
Net income attributable to Ares Management, L.P.
36,582






36,582

Less: Preferred equity distributions paid
16,275

 

 

 
16,275

Net income attributable to Ares Management, L.P. common unitholders
$
20,307


$


$


$
20,307



 
For the Nine Months Ended September 30, 2016
 
Consolidated
Company 
Entities 
 
Consolidated
Funds 
 
Eliminations 
 
Consolidated 
Revenues
 

 
 

 
 

 
 

Management fees (includes ARCC Part I Fees of $90,884)
$
494,076

 
$

 
$
(13,513
)
 
$
480,563

Performance fees
337,612

 

 
74

 
337,686

Administrative and other fees
22,761

 

 

 
22,761

Total revenues
854,449

 

 
(13,439
)
 
841,010

Expenses
 

 
 

 
 

 
 
Compensation and benefits
335,249

 

 

 
335,249

Performance fee compensation
253,739

 

 

 
253,739

General, administrative and other expense
116,845

 

 

 
116,845

Expenses of the Consolidated Funds

 
27,334

 
(16,320
)
 
11,014

Total expenses
705,833

 
27,334

 
(16,320
)
 
716,847

Other income (expense)
 

 
 

 
 

 
 
Investment income and net interest income (expense) (includes interest expense of $13,819)
3,177

 

 
(3,224
)
 
(47
)
Other income, net
33,956

 

 

 
33,956

Net realized and unrealized gain on investments
17,491

 

 
3,858

 
21,349

Investment income and net interest income of the Consolidated Funds (includes interest expense of $67,469)

 
20,133

 
5,626

 
25,759

Net realized and unrealized loss on investments of the Consolidated Funds

 
(5,588
)
 
(135
)
 
(5,723
)
Total other income
54,624

 
14,545

 
6,125

 
75,294

Income (loss) before taxes
203,240

 
(12,789
)
 
9,006

 
199,457

Income tax expense (benefit)
8,587

 
(719
)
 

 
7,868

Net income (loss)
194,653

 
(12,070
)
 
9,006

 
191,589

Less: Net loss attributable to non-controlling interests in Consolidated Funds

 
(12,070
)
 
9,006

 
(3,064
)
Less: Net income attributable to redeemable interests in Ares Operating Group entities
456

 

 

 
456

Less: Net income attributable to non-controlling interests in Ares Operating Group entities
116,404

 

 

 
116,404

Net income attributable to Ares Management, L.P.
77,793

 

 

 
77,793

Less: Preferred equity distributions paid
6,751

 

 

 
6,751

Net income attributable to Ares Management, L.P. common unitholders
$
71,042


$


$


$
71,042