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DEBT OBLIGATIONS AND CREDIT FACILITIES - Collateralized Loan Obligation Loans Payable (Details) (USD $)
6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended
Jun. 30, 2014
Dec. 31, 2013
Jun. 30, 2014
Consolidated Funds
Dec. 31, 2013
Consolidated Funds
Jun. 30, 2014
Consolidated Funds
EURIBOR
Jun. 30, 2014
Consolidated Funds
Senior variable rate notes 2
Minimum
Jun. 30, 2014
Consolidated Funds
Senior variable rate notes 2
Maximum
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Fair Value
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Senior variable rate notes 1
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Senior variable rate notes 1
Fair Value
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Senior variable rate notes 1
Fair Value
LIBOR
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Senior variable rate notes 2
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Senior variable rate notes 2
Fair Value
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Senior variable rate notes 3
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Senior variable rate notes 3
Fair Value
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Senior variable rate notes 3
Fair Value
EURIBOR
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Junior subordinated debt
Jun. 30, 2014
Collateralized Loan Obligations
Consolidated Funds
Junior subordinated debt
Fair Value
Debt Instrument [Line Items]                                      
Collateralized loan obligation loans payable                 $ 993,341,000 [1]   $ 460,163,000 [1],[2]     $ 52,508,000 [1],[3]   $ 453,795,000 [1],[4]     $ 26,875,000 [1],[5]
Weighted Average Interest Rate (as a percent)                   2.24% [2]   2.01% 2.56% [3]   2.58% [4]   2.21%    
Weighted Average Remaining Maturity (in years)                   10 years 9 months [2]     4 years 6 months 18 days [3]   13 years 2 months [4]     13 years 2 months [5]  
Debt obligations 600,000,000 579,464,000 996,802,000 0       996,802,000   456,195,000 [2]     52,508,000 [3]   461,224,000 [4]     26,875,000 [5]  
LIBOR or Euribor margin (as a percent)         2.00%                            
Unused commitment fee (as a percent)           0.00% 2.00%                        
Assets backing the obligation     $ 1,400,000,000                                
[1] The debt obligations of the CLOs are Level III valuations and were valued using prices obtained from pricing vendors or recent transactions. Financial instruments that are valued using quoted prices for the subject or similar securities are generally classified as Level III because the quoted prices may be indicative in nature for securities that are in an inactive market, may be for similar securities, or may require adjustment for investment-specific factors or restrictions. Financial instruments that are valued based on recent transactions are generally defined as securities purchased or sold within six months of the valuation date. The fair value may also be based on a pending transaction expected to close after the valuation date.
[2] The weighted average interest rate was LIBOR plus 2.01%.
[3] The interest rate was LIBOR plus a margin determined based on a formula as defined in the respective borrowing agreements, which incorporate different borrowing values based on the characteristics of collateral investments purchased. The weighted average unused commitment fee rate ranged from 0% to 2.0%.
[4] The weighted average interest rate was EURIBOR plus 2.21%
[5] The subordinated note does not have a contractual interest rate; instead, it receives distributions from the excess cash flows generated by the CLO. The carrying value approximates fair value due to the recent issuance date.