Oaktree Capital Group, LLC 6.625% PFD UT A (OAK-PA) 10-Q12 Nov 242024 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 11, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-35500
Entity Registrant Name	Brookfield Oaktree Holdings, LLC
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-0174894
Entity Address, Address Line One	333 South Grand Avenue
Entity Address, Address Line Two	28th Floor
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90071
City Area Code	213
Local Phone Number	830-6300
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001403528
Current Fiscal Year End Date	--12-31
Series A Preferred Units
Entity Information [Line Items]
Title of 12(b) Security	6.625% Series A preferred units
Trading Symbol	OAK-PA
Security Exchange Name	NYSE
Series B Preferred Units
Entity Information [Line Items]
Title of 12(b) Security	6.550% Series B preferred units
Trading Symbol	OAK-PB
Security Exchange Name	NYSE
Class A Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		116,373,234
Class B Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		43,822,210

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Derivative assets, at fair value	$ 30,095	$ 17,741
Total assets	6,966,464	7,555,933
Liabilities:
Derivative liabilities, at fair value	34,169	30,750
Total liabilities	1,608,534	1,634,479
Commitments and contingencies (Note 13)
Unitholders’ capital:
Paid-in capital	1,601,357	1,529,909
Retained earnings	302,894	334,314
Accumulated other comprehensive loss	0	(13,096)
Unitholders’ capital attributable to Brookfield Oaktree Holdings, LLC	2,304,835	2,251,711
Non-controlling interests in consolidated subsidiaries	8,208	333,195
Total unitholders’ capital	2,313,043	2,584,906
Total liabilities and unitholders’ capital	6,966,464	7,555,933
Series A Preferred Units
Unitholders’ capital:
Preferred units	173,669	173,669
Series B Preferred Units
Unitholders’ capital:
Preferred units	226,915	226,915
Class A Units
Unitholders’ capital:
Common units	0	0
Class B Units
Unitholders’ capital:
Common units	0	0
Related Party
Assets
Due from affiliates	227	232,485
Liabilities:
Accounts payable, accrued expenses and other liabilities	200	62,759
Oaktree Capital Group Excluding Consolidated Funds
Assets
Cash and cash-equivalents	20,841	28,507
Corporate investments	1,453,768	1,532,208
Due from affiliates	227	232,485
Other assets, net	14,621	66,650
Liabilities:
Accrued compensation expense	212	138,841
Debt obligations (Note 8)	0	219,682
Oaktree Capital Group Excluding Consolidated Funds \| Nonrelated Party
Liabilities:
Accounts payable, accrued expenses and other liabilities	873	3,837
Oaktree Capital Group Excluding Consolidated Funds \| Related Party
Liabilities:
Accounts payable, accrued expenses and other liabilities	200	62,759
Consolidated Funds
Assets
Cash and cash-equivalents	508,457	308,172
Corporate investments	4,842,875	5,143,677
Other assets, net	35,395	78,411
Dividends and interest receivable	33,209	37,839
Receivable for securities sold	26,976	118,851
Derivative assets, at fair value	30,095	9,133
Total assets	5,500,000
Liabilities:
Accounts payable, accrued expenses and other liabilities	39,744	14,701
Payables for securities purchased	72,271	124,789
Derivative liabilities, at fair value	34,169	22,230
Distributions payable	0	95,690
Debt obligations of the consolidated funds	1,461,065	951,950
Total liabilities	1,600,000
Non-controlling redeemable interests in consolidated funds	$ 3,044,887	$ 3,336,548

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Series A Preferred Units
Preferred units, issued (in shares)	7,200,000	7,200,000
Preferred units, outstanding (in shares)	7,200,000	7,200,000
Series B Preferred Units
Preferred units, issued (in shares)	9,400,000	9,400,000
Preferred units, outstanding (in shares)	9,400,000	9,400,000
Class A Units
Common units, par value (in dollars per share)	$ 0	$ 0
Common units, issued (in shares)	116,373,234	109,198,991
Common units, outstanding (in shares)	116,373,234	109,198,991
Class B Units
Common units, par value (in dollars per share)	$ 0	$ 0
Common units, issued (in shares)	43,771,190	50,915,764
Common units, outstanding (in shares)	43,771,190	50,915,764
Oaktree Capital Group Excluding Consolidated Funds
Investments, at fair value	$ 304,283	$ 402,620

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Interest and dividend income	$ 115,041	$ 86,947	$ 372,817	$ 246,842
Incentive income	0	5	117,529	61,478
Investment income (loss)	25,279	25,497	60,033	35,378
Total revenues	140,320	112,449	550,379	343,698
Expenses:
Compensation and benefits	(266)	(247)	(737)	(423)
Incentive income compensation	0	(293)	(22,168)	(57,337)
General and administrative	(398)	(1,531)	(2,712)	(3,634)
Consolidated fund expenses	(19,642)	(14,911)	(64,303)	(42,235)
Interest expense	(21,630)	(5,919)	(72,785)	(34,629)
Total expenses	(41,936)	(22,901)	(162,705)	(138,258)
Other income (loss):
Net realized gain on consolidated funds’ investments	32,533	14,051	35,614	76,432
Net change in unrealized appreciation (depreciation) on consolidated funds’ investments	52,467	(9,359)	147,646	(47,330)
Total other income (loss)	85,000	4,692	183,260	29,102
Net income (loss)	183,384	94,240	570,934	234,542
Less:
Net income attributable to Brookfield Oaktree Holdings, LLC	43,591	31,933	172,009	78,185
Net income attributable to preferred unitholders	(6,829)	(6,829)	(20,487)	(20,487)
Net income (loss) attributable to Brookfield Oaktree Holdings, LLC Class A unitholders	$ 36,762	$ 25,104	$ 151,522	$ 57,698
Distributions declared per Class A unit (in dollars per share)	$ 0.65	$ 0.09	$ 2.05	$ 0.92
Net income (loss) per Class A unit (basic and diluted):
Net income (loss) per Class A unit, basic (in dollars per share)	0.33	0.23	1.38	0.54
Net income (loss) per Class A unit, diluted (in dollars per share)	$ 0.33	$ 0.23	$ 1.38	$ 0.54
Weighted average number of Class A units outstanding, diluted (in shares)	160,144	160,106	160,132	160,095
Consolidated Funds
Less:
Net (income) loss attributable to non-controlling interests	$ (139,377)	$ (53,109)	$ (336,844)	$ (141,414)
Consolidated Subsidiaries
Less:
Net (income) loss attributable to non-controlling interests	(416)	(9,198)	(62,081)	(14,943)
Class A Units
Less:
Net income (loss) attributable to Brookfield Oaktree Holdings, LLC Class A unitholders	$ 36,762	$ 25,104	$ 151,522	$ 57,698
Net income (loss) per Class A unit (basic and diluted):
Net income (loss) per Class A unit, basic (in dollars per share)	$ 0.33	$ 0.23	$ 1.38	$ 0.54
Net income (loss) per Class A unit, diluted (in dollars per share)	$ 0.33	$ 0.23	$ 1.38	$ 0.54
Weighted average number of Class A units outstanding, basic (in shares)	112,694	109,199	110,091	107,047
Weighted average number of Class A units outstanding, diluted (in shares)	112,694	109,199	110,091	107,047

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income (loss)	$ 183,384	$ 94,240	$ 570,934	$ 234,542
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	0	(17,824)	(1,501)	(19,358)
Other comprehensive income (loss), net of tax	0	(17,824)	(1,501)	(19,358)
Total comprehensive income (loss)	183,384	76,416	569,433	215,184
Comprehensive income (loss) attributable to BOH	43,591	20,197	170,983	65,441
Comprehensive income attributable to preferred unitholders	(6,829)	(6,829)	(20,487)	(20,487)
Comprehensive income (loss) attributable to BOH Class A unitholders	36,762	13,368	150,496	44,954
Consolidated Funds
Other comprehensive income (loss), net of tax:
Less: Comprehensive (income) loss attributable to non-controlling interest	(139,377)	(53,109)	(336,844)	(141,414)
Consolidated Subsidiaries
Other comprehensive income (loss), net of tax:
Less: Comprehensive (income) loss attributable to non-controlling interest	$ (416)	$ (3,110)	$ (61,606)	$ (8,329)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 570,934	$ 234,542
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Investment income	(60,033)	(35,378)
Net realized and unrealized gain from consolidated funds’ investments	(183,260)	(29,102)
Accretion of original issue and market discount of consolidated funds’ investments, net	(52,021)	(28,756)
Distributions of investment income and settlements of derivative instruments	68,390	30,430
Other non-cash items	3,450	(104)
Cash flows due to changes in operating assets and liabilities:
Net cash used in operating activities	(508,604)	(288,723)
Cash flows from investing activities:
Purchases of U.S. Treasury and other securities	(250,000)	0
Proceeds from maturities and sales of U.S. Treasury and other securities	80,000	0
Corporate investments in funds and companies	(36,756)	(451,665)
Distributions and proceeds from corporate investments in funds and companies	162,490	96,908
Net cash used in investing activities	(44,266)	(354,757)
Cash flows from financing activities:
Net cash provided by financing activities	871,469	740,055
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Effect of exchange rate changes on cash	(8,830)	(3,913)
Net increase in cash and cash-equivalents	309,769	92,662
Supplemental Cash Flow Information [Abstract]
Deconsolidation due to restructuring	(8,805)	0
Deconsolidation of funds	(108,345)	0
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash and cash-equivalents, beginning balance	336,679	176,130
Cash and cash-equivalents, ending balance	529,298	268,792
Total cash and cash-equivalents	529,298	268,792
Oaktree Capital Group Excluding Consolidated Funds
Cash flows due to changes in operating assets and liabilities:
(Increase)/ Decrease in other assets	(5,820)	23,272
Decrease in net due from affiliates	209,317	202,238
Decrease in accrued compensation expense	(91,953)	(64,307)
Decrease in accounts payable, accrued expenses and other liabilities	(465)	7,615
Cash flows from financing activities:
Capital contributions	37,500	582,037
Capital distributions	(271)	0
Distributions to Class A unitholders	(211,591)	(88,558)
Distributions to OCGH unitholders	(82,212)	(48,986)
Distributions to preferred unitholders	(20,487)	(20,487)
Payment of debt issuance costs	0	(128)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash and cash-equivalents, ending balance	20,841	34,376
Total cash and cash-equivalents	20,841	34,376
Consolidated Funds
Cash flows due to changes in operating assets and liabilities:
Decrease in accounts payable, accrued expenses and other liabilities	(31,739)	(2,156)
Increase in dividends and interest receivable	(8,723)	(804)
Decrease (increase) in receivables for securities sold	30,707	(23,933)
Increase in other assets	42,660	15,098
Increase (decrease) in payables for securities purchased	118,789	(59,167)
Purchases of securities	(3,134,754)	(3,319,937)
Proceeds from maturities and sales of securities	2,015,917	2,761,726
Cash flows from financing activities:
Payment of debt issuance costs	(3,378)	0
Contributions from non-controlling interests	271,806	1,167,818
Distributions to non-controlling interests	(399,650)	(78,215)
Borrowings on credit facilities	2,187,422	245,153
Repayments on credit facilities	(907,670)	(1,018,579)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash and cash-equivalents, ending balance	508,457	234,416
Total cash and cash-equivalents	$ 508,457	$ 234,416

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Changes in Unitholders' Capital (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning balance	$ 2,566,835	$ 2,388,723	$ 2,584,906	$ 1,906,638
Deconsolidation of Oaktree Capital I	(269,563)		(269,563)
Capital contributions	37,500	13,902	37,500	583,402
Equity reallocation between controlling and non-controlling interests		(279)	(271)	(1,365)
Distributions declared	(65,736)	(21,239)	(272,118)	(158,031)
Net income	44,007	41,131	234,090	93,128
Foreign currency translation adjustment, net of tax	0	(17,824)	(1,501)	(19,358)
Unitholders' capital, ending balance	2,313,043	2,404,414	2,313,043	2,404,414
Paid-in Capital
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning balance	1,563,857	1,512,724	1,529,909	908,142
Capital contributions	37,500	13,902	37,500	583,402
Equity reallocation between controlling and non-controlling interests		1,402	33,948	36,484
Unitholders' capital, ending balance	1,601,357	1,528,028	1,601,357	1,528,028
Retained Earnings (Accumulated Deficit)
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning balance	325,039	200,217	334,314	246,353
Distributions declared	(58,907)	(9,828)	(182,942)	(88,558)
Net income	36,762	25,104	151,522	57,698
Unitholders' capital, ending balance	302,894	215,493	302,894	215,493
Accumulated Other Comprehensive Income (Loss)
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning balance	(14,122)	(10,109)	(13,096)	(9,101)
Deconsolidation of Oaktree Capital I	14,122		14,122
Foreign currency translation adjustment, net of tax		(11,736)	(1,026)	(12,744)
Unitholders' capital, ending balance	0	(21,845)	0	(21,845)
Non-controlling Interests in Consolidated Subsidiaries
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning balance	291,477	285,307	333,195	360,660
Deconsolidation of Oaktree Capital I	(283,685)		(283,685)
Equity reallocation between controlling and non-controlling interests		(1,681)	(34,219)	(37,849)
Distributions declared		(4,582)	(68,689)	(48,986)
Net income	416	9,198	62,081	14,943
Foreign currency translation adjustment, net of tax		(6,088)	(475)	(6,614)
Unitholders' capital, ending balance	$ 8,208	$ 282,154	$ 8,208	$ 282,154
Class A Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning balance (in shares)			109,198,991
Unitholders' capital, ending balance (in shares)	116,373,234		116,373,234
Class A Units \| Common Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning balance (in shares)	116,373,000	109,199,000	109,199,000	103,081,000
Unit exchange (in shares)			7,174,000	6,118,000
Unitholders' capital, ending balance (in shares)	116,373,000	109,199,000	116,373,000	109,199,000
Class B Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning balance (in shares)			50,915,764
Unitholders' capital, ending balance (in shares)	43,771,190		43,771,190
Class B Units \| Common Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning balance (in shares)	43,757,000	50,917,000	50,916,000	56,922,000
Net issuance of units (in shares)	15,000		30,000	122,000
Unit exchange (in shares)			(7,174,000)	(6,118,000)
Cancellation of units associated with forfeitures (in shares)		(16,000)		(25,000)
Unitholders' capital, ending balance (in shares)	43,772,000	50,901,000	43,772,000	50,901,000
Series A Preferred Units \| Equities – preferred stock
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning balance	$ 173,669	$ 173,669	$ 173,669	$ 173,669
Distributions declared	(2,981)	(2,981)	(8,943)	(8,943)
Net income	2,981	2,981	8,943	8,943
Unitholders' capital, ending balance	173,669	173,669	173,669	173,669
Series B Preferred Units \| Equities – preferred stock
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning balance	226,915	226,915	226,915	226,915
Distributions declared	(3,848)	(3,848)	(11,544)	(11,544)
Net income	3,848	3,848	11,544	11,544
Unitholders' capital, ending balance	$ 226,915	$ 226,915	$ 226,915	$ 226,915

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	9 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	ORGANIZATION AND BASIS OF PRESENTATION As used in these condensed consolidated financial statements: “Oaktree” refers to the Oaktree Operating Group members and, where applicable, their respective subsidiaries and affiliates; and the “Company” refers to Brookfield Oaktree Holdings, LLC and, where applicable, its subsidiaries and affiliates. The Company holds Credit, Real Estate and Private Equity investments managed by leading alternative asset management firms Oaktree Capital Management, L.P. and Brookfield Asset Management Ltd. The Company both directly invests in funds and has indirect exposure through its 72% economic interest in Oaktree Capital I, L.P. (“Oaktree Capital I”) , which acts as or controls the general partner of certain Oaktree funds and which holds a majority of Oaktree’s investments in its funds. The Company is a Delaware limited liability company that was formed on April 13, 2007 under the name of Oaktree Capital Group, LLC. The Company’s issued and outstanding member interests are divided into certain classes and series of units. The Company’s outstanding units are held by (i) an affiliate of Brookfield Corporation (formerly known as Brookfield Asset Management, Inc.) (“Brookfield”) as the sole holder of the Company’s Class A common units, (ii) preferred unitholders as the holders of Series A and Series B preferred units listed on the NYSE, which represent only the right to receive certain distributions from the Company and such other rights as are specified in the relevant preferred unit designations, and (iii) Oaktree Capital Group Holdings, L.P. (“OCGH”) as the sole holder of the Company’s Class B common units, which units do not represent an economic interest in the Company. OCGH is owned by Oaktree’s senior executives, current and former Oaktree employees, and their respective transferees (collectively, the “OCGH unitholders”). Subject to the operating agreement of the Company, to the extent the approval of any matter requires the vote of the Company’s unitholders, the Class A units are entitled to one vote per unit and the Class B units are entitled to ten votes per unit, voting together as a single class. The Company’s ownership and operational structure through September 30, 2024 were the result of (i) certain mergers with affiliates of Brookfield completed on September 30, 2019 (the “Mergers”) and the subsequent restructuring completed on October 1, 2019 in connection with the Mergers (the “2019 Restructuring”), (ii) the restructuring completed on November 30, 2022 in connection with an internal Oaktree reorganization to facilitate the separation of Brookfield’s capital business and asset management business (the “2022 Restructuring”) and (iii) the restructuring completed on July 1, 2024 in connection with an internal Oaktree reorganization which resulted in the change of the general partner of Oaktree Capital I, L.P. from Brookfield OCM Holdings II, LLC, a subsidiary of the Company, to Oaktree Capital I GP, LLC, a newly formed subsidiary of Oaktree Capital Holdings, LLC (“OCH”) (the “2024 Restructuring”). See Part I, Item I included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on March 2, 2020 for more information regarding the Mergers and the 2019 Restructuring. See Item 1.01 of the Company’s Current Report on Form 8-K filed with the SEC on December 6, 2022 for more information about the 2022 Restructuring. See Item 8.01 of the Company’s Current Report on Form 8-K filed with the SEC on July 1, 2024 for more information about the 2024 Restructuring. Following the above restructurings, the Company’s holdings and operations primarily represent (i) limited partner investments in certain of Oaktree’s flagship opportunistic funds, (ii) an approximately 72% economic interest in Oaktree Capital I, which acts as or controls the general partner of certain Oaktree funds and which holds a majority of Oaktree’s investments in its funds, and (iii) an indirect ownership in Brookfield Real Estate Income Trust Inc. (“Brookfield REIT”). Oaktree is a leader among global investment managers specializing in alternative investments. Oaktree emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. Funds managed by Oaktree (the “Oaktree funds”) include commingled funds, separate accounts, collateralized loan obligation vehicles (“CLOs”) and business development companies (“BDCs”). Following the 2022 Restructuring and prior to the 2024 Restructuring, the Company’s operations were conducted through an indirect economic interest in Oaktree Capital I, and the Company’s revenue included the incentive income generated by certain funds that OCM manages for which the Company, via Oaktree Capital I, acted as general partner and the investment income earned from the investments the Company makes in Oaktree funds, third-party funds and other companies. Investment income during such period generally reflected the investment return on a mark-to-market basis and the Company’s equity participation on the amounts that it invested in Oaktree and third-party funds . As a result of the 2024 Restructuring, the Company no longer consolidates the operations of Oaktree Capital I, but rather accounts for an approximately 72% interest in Oaktree Capital I under the equity method of accounting. The Company’s revenue is primarily the investment income earned from (i) limited partner investments in certain of Oaktree’s flagship opportunistic funds, (ii) an equity method investment in Oaktree Capital I, and (iii) an indirect ownership in Brookfield REIT. Payments to the preferred unitholders must be satisfied prior to declaration of any distributions to Class A or Class B unitholders, subject to the terms of the Series A and Series B preferred units and certain limitations and exceptions set forth therein. OCM, an affiliate of the Company, has since the 2019 Restructuring provided certain administrative and other services relating to the operations of the Company’s business. These services are provided pursuant to a Services Agreement between the Company and OCM (as amended from time to time, the “Services Agreement”). Basis of Presentation The accompanying unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. The condensed consolidated financial statements, including these notes, are unaudited and exclude some of the disclosures required in annual financial statements. Management believes it has made all necessary adjustments (consisting of only normal recurring items) such that the condensed consolidated financial statements are presented fairly and that estimates made in preparing its condensed consolidated financial statements are reasonable and prudent. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. The condensed consolidated financial statements include the accounts of the Company, its wholly-owned or majority-owned subsidiaries and entities in which the Company is deemed to have a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. Certain of the Oaktree funds consolidated by the Company are investment companies that follow a specialized basis of accounting established by GAAP. All intercompany transactions and balances have been eliminated in consolidation. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 31, 2023 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 21, 2024. Use of Estimates The preparation of the condensed consolidated financial statements in accordance with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the condensed consolidated financial statements, as well as the reported amounts of income and expenses during the period then ended. Actual results could differ from these estimates.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting Policies of the Company Consolidation The Company consolidates entities in which it has a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. A limited partnership or similar entity is a variable interest entity (“VIE”) if the unaffiliated limited partners do not have substantive kick-out or participating rights. Most of the Oaktree funds are VIEs because they have not granted unaffiliated limited partners substantive kick-out or participating rights. The Company consolidates those VIEs in which it is the primary beneficiary. An entity is deemed to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The consolidation guidance requires an analysis to determine (a) whether an entity in which the Company holds a variable interest is a VIE and (b) whether the Company’s involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance-based fees), would give it a controlling financial interest. A decision maker’s fee arrangement is not considered a variable interest if (a) it is compensation for services provided, commensurate with the level of effort required to provide those services, and part of a compensation arrangement that includes only terms, conditions or amounts that are customarily present in arrangements for similar services negotiated at arm’s length (“at-market”), and (b) the decision maker does not hold any other variable interests that absorb more than an insignificant amount of the potential VIE’s expected residual returns. The Company determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion at each reporting date. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly by the Company or indirectly through related parties. In situations where power over an entity’s most significant activities is shared among related parties, a qualitative analysis is required to determine which party within the related party group is most closely associated with the VIE. The party within the related party group that is most closely associated with the VIE is the primary beneficiary and is required to consolidate and disclose the impact of the VIE. The consolidation analysis can generally be performed qualitatively; however, if it is not readily apparent that the Company is not the primary beneficiary, a quantitative analysis may also be performed. Investments and redemptions (either by the Company, affiliates of the Company or third parties) or amendments to the governing documents of the respective Oaktree funds could affect an entity’s status as a VIE or the determination of the primary beneficiary. The Company does not consolidate most of the Oaktree funds because it is not the primary beneficiary of those funds due to the fact that its fee arrangements are considered at-market and thus not deemed to be variable interests, and it does not hold any other interests in those funds that are considered to be more than insignificant. Please see note 4 for more information regarding both consolidated and unconsolidated VIEs. For entities that are not VIEs, consolidation is evaluated through a majority voting interest model. “Consolidated funds” historically refers to Oaktree-managed funds and CLOs that the Company is required to consolidate. When funds or CLOs are consolidated, the Company reflects the assets, liabilities, revenues, expenses and cash flows of the funds or CLOs on a gross basis, and the majority of the economic interests in those funds or CLOs, which are held by third-party investors, are reflected as non-controlling interests in consolidated funds or debt obligations of CLOs in the condensed consolidated financial statements. All of the revenues earned by the Company as investment manager of the consolidated funds are eliminated in consolidation. However, because the eliminated amounts are earned from and funded by third-party investors, the consolidation of a fund does not impact net income or loss attributable to the Company. As a result of the 2024 Restructuring, effected to facilitate the change of the general partner of Oaktree Capital I, the Company no longer controls Oaktree Capital I. Therefore, Oaktree Capital I was deconsolidated as of July 1, 2024. As such, certain Oaktree funds and CLOs which were consolidated by Oaktree Capital I are no longer consolidated by the Company. The Company continues to consolidate the respective vehicles through which interests are held in Oaktree Opportunities Fund XI, L.P. and Oaktree Opportunities Fund XII, L.P. as the Company remains the primary beneficiary. The impact of deconsolidation on the balance sheet is summarized in note 4. Certain entities in which the Company is deemed to have significant influence, including Oaktree Capital I and unconsolidated Oaktree funds in which Oaktree Capital I holds a general partner interest, are accounted for under the equity method of accounting. Non-controlling Redeemable Interests in Consolidated Funds The Company records non-controlling interests to reflect the economic interests of the unaffiliated limited partners in Oaktree-managed funds and the class A ordinary shareholders in Oaktree sponsored SPACs. These interests are presented as non-controlling redeemable interests in consolidated funds within the condensed consolidated statements of financial condition, outside of the permanent capital section. Limited partners in open-end and evergreen funds generally have the right to withdraw their capital, subject to the terms of the respective limited partnership agreements, over periods ranging from one month to three years. While limited partners in consolidated closed-end funds generally have not been granted redemption rights, these limited partners do have withdrawal or redemption rights in certain limited circumstances that are beyond the control of the Company, such as instances in which retaining the limited partnership interest could cause the limited partner to violate a law, regulation or rule. For Oaktree sponsored SPACs, the class A ordinary shareholders have redemption rights that are considered to be outside of the Company’s control. These shares are presented as non-controlling redeemable interests on the Company’s condensed consolidated statements of financial condition. The allocation of net income or loss to non-controlling redeemable interests in consolidated funds and Oaktree sponsored SPACs is based on the relative ownership interests of the unaffiliated limited partners after the consideration of contractual arrangements that govern allocations of income or loss. At the consolidated level, potential incentives are allocated to non-controlling redeemable interests in consolidated funds until such incentives become allocable to the Company under the substantive contractual terms of the limited partnership agreements of the funds. As a result of the 2024 Restructuring, Oaktree Capital I was deconsolidated as of July 1, 2024. As such, the funds consolidated by Oaktree Capital I are no longer consolidated by the Company. Non-controlling Interests in Consolidated Subsidiaries Non-controlling interests in consolidated subsidiaries reflect the portion of unitholders’ capital attributable to OCGH unitholders (“OCGH non-controlling interest”) and third parties. All non-controlling interests in consolidated subsidiaries are attributed a share of income or loss in the respective consolidated subsidiary based on the relative economic interests of the OCGH unitholders or third parties after consideration of contractual arrangements that govern allocations of income or loss. As a result of the 2024 Restructuring, Oaktree Capital I was deconsolidated as of July 1, 2024. BOH no longer reports OCGH non-controlling interests in Oaktree Capital I. Fair Value of Financial Instruments GAAP establishes a hierarchical disclosure framework that prioritizes the inputs used in measuring financial instruments at fair value into three levels based on their market observability. Market price observability is affected by a number of factors, such as the type of instrument and the characteristics specific to the instrument. Financial instruments with readily available quoted prices from an active market or for which fair value can be measured based on actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment inherent in measuring fair value. Financial assets and liabilities measured and reported at fair value are classified as follows: • Level I – Quoted unadjusted prices for identical instruments in active markets to which the Company has access at the date of measurement. The types of investments in Level I include exchange-traded equities, debt and derivatives with quoted prices. • Level II – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are directly or indirectly observable. Level II inputs include interest rates, yield curves, volatilities, prepayment risks, loss severities, credit risks and default rates. The types of investments in Level II generally include corporate bonds and loans, government and agency securities, less liquid and restricted equity investments, over-the-counter traded derivatives, debt obligations of consolidated CLOs, and other investments where the fair value is based on observable inputs. • Level III – Valuations for which one or more significant inputs are unobservable. These inputs reflect the Company’s assessment of the assumptions that market participants use to value the investment based on the best available information. Level III inputs include prices of quoted securities in markets for which there are few transactions, less public information exists or prices vary among brokered market makers. The types of investments in Level III include non-publicly traded equity, debt, real estate and derivatives. In some instances, the inputs used to value an instrument may fall into multiple levels of the fair-value hierarchy. In such instances, the instrument’s level within the fair-value hierarchy is based on the lowest of the three levels (with Level III being the lowest) that is significant to the fair-value measurement. The Company’s assessment of the significance of an input require s judgment and considers factors specific to the instrument. Transfers of assets into or out of each fair value hierarchy level as a result of changes in the observability of the inputs used in measuring fair value are accounted for as of the beginning of the reporting period. Transfers resulting from a specific event, such as a reorganization or restructuring, ar e accounted for as of the date of the event that caused the transfer. In the absence of observable market prices, the Company values Level III investments inclusive of the Company’s investments in unconsolidated Oaktree funds using valuation methodologies applied on a consistent basis. The quarterly valuation process for Level III investments begins with each portfolio company, property or security being valued by the investment and/or valuation teams. With the exception of open-end funds, all unquoted Level III investment values are reviewed and approved by (i) the Company’s valuation officer, who is independent of the investment teams, (ii) a designated investment professional of each strategy and (iii) for a substantial majority of unquoted Level III holdings as measured by market value, a valuation committee of the respective strategy. For open-end funds, unquoted Level III investment values are reviewed and approved by the Company’s valuation officer. For certain investments, the valuation process also includes a review by independent valuation parties, at least annually, to determine whether the fair values determined by management are reasonable. Results of the valuation process are evaluated each quarter, including an assessment of whether the underlying calculations should be adjusted or recalibrated. In connection with this process, the Company periodically evaluates changes in fair-value measurements for reasonableness, considering items such as industry trends, general economic and market conditions, and factors specific to the investment. Certain assets are valued using prices obtained from pricing vendors or brokers. The Company seeks to obtain prices from at least two pricing vendors for the subject or similar securities. In cases where vendor pricing is not reflective of fair value, a secondary vendor is unavailable, or no vendor pricing is available, a comparison value made up of quotes for the subject or similar securities received from broker dealers may be used. These investments may be 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. The Company evaluates the prices obtained from brokers or pricing vendors based on available market information, including trading activity of the subject or similar securities, or by performing a comparable security analysis to ensure that fair values are reasonably estimated. The Company also performs back-testing of valuation information obtained from pricing vendors and brokers against actual prices received in transactions. In addition to ongoing monitoring and back-testing, the Company performs due diligence procedures surrounding pricing vendors to understand their methodology and controls to support their use in the valuation process. Fair Value Option The Company has elected the fair value option for the financial assets and financial liabilities of its consolidated CLOs. The assets and liabilities of CLOs are primarily reflected within the investments, at fair value and within the debt obligations of CLOs line items in the condensed consolidated statements of financial condition. The Company’s accounting for CLO assets is similar to its accounting for its funds with respect to both carrying investments held by CLOs at fair value and the valuation methods used to determine the fair value of those investments. The fair value of CLO liabilities are measured as the fair value of CLO assets less the sum of (a) the fair value of any beneficial interests held by the Company and (b) the carrying value of any beneficial interests that represent compensation for services. Realized gains or losses and changes in the fair value of CLO assets, respectively, are included in net realized gain on consolidated funds’ investments and net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the condensed consolidated statements of operations. Interest income of CLOs is included in interest and dividend income, and interest expense and other expenses, respectively, are included in interest expense and consolidated fund expenses in the condensed consolidated statements of operations. Changes in the fair value of a CLO’s financial liabilities in accordance with the CLO measurement guidance are included in net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the condensed consolidated statements of operations. Please see notes 6 and 8 for more information. Subsequent to the 2024 Restructuring, the Company no longer consolidates the CLOs due to the deconsolidation of Oaktree Capital I. Changes in the fair value of the CLOs’ financial liabilities will no longer be included in the condensed consolidated statements of operations for periods subsequent to July 1, 2024. Derivatives and Hedging A derivative is a financial instrument whose value is derived from an underlying financial instrument or index, such as interest rates, equity securities, currencies, commodities or credit spreads. Derivatives include futures, forwards, swaps or option contracts, and other financial instruments with similar characteristics. Derivative contracts often involve future commitments to exchange interest payment streams or currencies based on a notional or contractual amount (e.g., interest-rate swaps, foreign-currency forwards or cross-currency swaps). The Company enters into derivatives as part of its overall risk management strategy or to facilitate its investment management activities. The Company manages its exposure to interest rate and foreign exchange market risks, when deemed appropriate, through the use of derivatives, including foreign currency forward and option contracts, interest-rate and cross currency swaps with financial counterparties. Risks associated with fluctuations in interest rates and foreign-currency exchange rates in the normal course of business are addressed as part of the Company’s overall risk management strategy that may result in the use of derivatives to economically hedge or reduce these exposures. From time to time, the Company may enter into (a) foreign-currency option and forward contracts to reduce earnings and cash-flow volatility associated with changes in foreign-currency exchange rates, and (b) interest-rate swaps to manage all or a portion of the interest-rate risk associated with its variable-rate borrowings. As a result of the use of these or other derivative contracts, the Company is exposed to the risk that counterparties will fail to fulfill their contractual obligations. The Company attempts to mitigate this counterparty risk by entering into derivative contracts only with major financial institutions that have investment-grade credit ratings. Counterparty credit risk is evaluated in determining the fair value of derivatives. The Company recognizes all derivatives as assets or liabilities in its condensed consolidated statements of financial condition at fair value. In connection with its derivative activities, the Company generally enters into agreements subject to enforceable master netting arrangements that allow the Company to offset derivative assets and liabilities in the same currency by specific derivative type or, in the event of default by the counterparty, to offset derivative assets and liabilities with the same counterparty. While these derivatives are eligible to be offset in accordance with applicable accounting guidance, the Company has elected to present derivative assets and liabilities based on gross fair value in its condensed consolidated statements of financial condition. When the Company enters into a derivative contract, it may or may not elect to designate the derivative as a hedging instrument and apply hedge accounting as part of its overall risk management strategy. In other situations, when a derivative does not qualify for hedge accounting or when the derivative and the hedged item are both recorded in current-period earnings and thus deemed to be economic hedges, hedge accounting is not applied. Freestanding derivatives are financial instruments that we enter into as part of our overall risk management strategy but do not utilize hedge accounting. These financial instruments may include foreign-currency exchange contracts, interest-rate swaps and other derivative contracts. Subsequent to the 2024 Restructuring and deconsolidation of Oaktree Capital I, the Company no longer records activity related to derivative and hedging activity. Cash and Cash-equivalents Cash and cash-equivalents include demand deposit accounts, money market funds, and other short-term investments with maturities of three months or less at the date of acquisition. At September 30, 2024 and December 31, 2023, the Company had cash balances with financial institutions in excess of Federal Deposit Insurance Corporation insured limits. The Company monitors the credit standing of these financial institutions. U.S. Treasury and Other Securities U.S. Treasury and other securities include holdings of U.S. Treasury bills, time deposit securities, notes and bonds, commercial paper, and investment grade debt securities that are issued or guaranteed by U.S. government-sponsored entities, sovereign debt, domestic and international corporate fixed and floating rate debt, and structured credit with maturities greater than three months from the date of acquisition. These securities are classified as trading and are recorded at fair value with changes in fair value included in investment income. The interest income earned on the deposit is included in the interest and dividend income. Subsequent to the 2024 Restructuring, due to the deconsolidation of Oaktree Capital I, the Company no longer consolidates the U.S. Treasury and other securities held by Oaktree Capital I. Corporate Investments Corporate investments have historically consisted of investments in funds, companies in which the Company does not have a controlling financial interest, equities received as part of our sponsorship of SPACs, and non-investment grade debt securities. Prior to the 2024 Restructuring, these investments largely represented investments held by Oaktree Capital I. As a result of the 2024 Restructuring, the Company no longer consolidates Oaktree Capital I and instead, it accounts for it’s interest in Oaktree Capital I under the equity method of accounting. The carrying value of BOH’s investment in Oaktree Capital I is reflected in Corporate i nvestments. Additionally, Corporate investments also includes Brookfield’s indirect ownership in Brookfield REIT. Investments for which the Company is deemed to have significant influence are accounted for under the equity method of accounting and have historically reflected the Company’s ownership interest in each fund or company. In the case of investments for which the Company is not deemed to have significant influence or control, the fair value option of accounting has been elected. Oaktree Capital I’s underlying general partnership interests are substantially illiquid. While Oaktree Capital I’s investments in funds reflect each respective fund’s holdings at fair value, equity-method investments in companies are not adjusted to reflect the fair value of the underlying company. The fair value of the underlying investments in Oaktree funds is based on the Company’s assessment, which takes into account expected cash flows, earnings multiples and/or comparisons to similar market transactions, among other factors. Valuation adjustments reflecting consideration of credit quality, concentration risk, sales restrictions and other liquidity factors are integral to valuing these instruments. Non-investment grade debt securities include domestic and international corporate fixed and floating rate debt and structured credit investments. These securities are classified as trading and are recorded at fair value with changes in fair value included in investment income. Revenue Recognition Incentive Income Prior to the 2024 Restructuring, the Company earned incentive income from the investment advisory services provided to its customers by Oaktree Capital I. Revenue was recognized when control of the promised services was transferred to customers in an amount that reflects the consideration the Company expects to receive in exchange for those services. These services are generally capable of being distinct and each is accounted for as separate performance obligations comprised of distinct service periods because the services are performed over time. Incentive income generally represents 20% of each closed-end fund’s profits, subject to the return of contributed capital and a preferred return of typically 8% per annum, and up to 20% of certain evergreen fund’s annual profits, subject to high-water marks or hurdle rates. Incentive income is recognized when it is probable that a significant reversal will not occur. Revenue recognition is typically met (a) for closed-end funds, only after all contributed capital and the preferred return on that capital have been distributed to the fund’s investors, and (b) for certain evergreen funds, at the conclusion of each annual measurement period. Potential incentive income is highly susceptible to market volatility, the judgment and actions of third parties, and other factors outside of the Company’s control. The Company’s experience has demonstrated little predictive value in the amount of potential incentive income ultimately earned due to the highly uncertain nature of returns inherent in the markets and contingencies associated with many realization events. As a result, the amount of incentive income recognized in any given period is generally determined after giving consideration to a number of factors, including whether the fund is in its investment or liquidation period, and the nature and level of risk associated with changes in fair value of the remaining assets in the fund. In general, it would be unlikely that any amount of potential incentive income would be recognized until (a) the uncertainty is resolved or (b) the fund is near final liquidation, assets are under contract for sale or are at low risk of significant fluctuation in fair value, and the assets are significantly in excess of the threshold at which incentive income would be earned. Incentives received by Oaktree Capital I before the revenue recognition criteria have been met are deferred and recorded as a deferred incentive income liability within accounts payable, accrued expenses and other liabilities in the condensed consolidated statements of financial condition. Oaktree Capital I may have received tax distributions related to taxable income allocated by funds, which are treated as an advance of incentive income and subject to the same recognition criteria. Tax distributions are contractually not subject to clawback. Oaktree Capital I may have earned incentive income upon deconsolidation of a SPAC arising from the completion of a merger with an identified target. Upon deconsolidation, Oaktree Capital I derecognizes the net assets of the entity and records any gain or loss related to the remeasurement of its investments to fair value as incentive income in its condensed consolidated statements of operations. Subsequent fair value changes in Oaktree Capital I’s investments held in the entity were recorded in investment income in its condensed consolidated statements of operations. Subsequent to the 2024 Restructuring, the Company no longer earns incentive income as a result of the deconsolidation of Oaktree Capital I. Rather the economics resulting from Oaktree Capital I’s right to earn incentive income are reflected in the Company’s results through investment income earned from its equity method investment in Oaktree Capital I. Investment Income The Company records investment income (loss) from its equity method investments which represents the Company’s pro-rata share of income or loss from these investments, or the change in fair value of the investment, as applicable, and consists of both unrealized and realized gains and losses. Investment income (loss) is realized when the Company sells all or a portion of its investments or when the Company receives or is due cash income. Unrealized investment income (loss) results from the proportionate share of the investments’ unrealized earnings, including changes in the fair value of the underlying investments. The cash distributions from the Company’s equity investments are classified based the nature of the underlying transaction which resulted in the distribution. Cash distributions that are determined to be realized gains (losses) are included in Cash Flows from Operating Activities and distributions that are returns of capital are included in the Cash Flows from Investing Activities section of the Consolidated Statements of Cash Flows. Compensation and Benefits Compensation and benefits has historically reflected incentive income compensation expense, which primarily reflected compensation directly related to incentive income, which generally consists of percentage interests (sometimes referred to as “points” or an allocation of shares received upon the completion of a successful SPAC merger) that the Company grants to its investment professionals associated with the particular fund or SPAC that generated the incentive income, and secondarily, compensation directly related to investment income. The Company has an obligation to pay a fixed percentage of the incentive income earned from a particular fund or SPAC, including income from consolidated funds that is eliminated in consolidation, to specified investment professionals responsible for the management of the fund or SPAC. Amounts payable pursuant to these arrangements are recorded as compensation expense when they have become probable and reasonably estimable. The Company’s determination of the point at which it becomes probable and reasonably estimable that incentive income compensation expense should be recorded is based on its assessment of numerous factors, particularly those related to the profitability, realizations, distribution status, investment profile and commitments or contingencies of the individual funds that may give rise to incentive income or the completion of a merger by an Oaktree sponsored SPAC. Incentive income compensation is generally expensed in the period in which the underlying income is recognized. Payment of incentive income compensation generally occurs in the same period the related income is received or in the next period. Participation in incentive income generated by the funds or SPACs is subject to forfeiture upon departure and to vesting provisions (generally over a period of five years), in each case, under certain circumstances set forth in the applicable governing documents. These provisions are generally only applicable to incentive income compensation that has not yet been recognized as an expense by the Company or paid to the participant. Subsequent to the 2024 Restructuring, the Company no longer earns incentive income as a result of the deconsolidation of Oaktree Capital I, and therefore will no longer record incentive compensation expense. Compensation and benefits following the 2024 Restructuring primarily reflects compensation to the Company’s board of directors. Income Taxes The Company is a publicly traded partnership. Because it satisfies the qualifying income test, it is not required to be treated as a corporation for U.S. federal and state income tax purposes; rather it is taxed as a partnership. The Company analyzes its tax filing positions for all open tax years in all of the U.S. federal, state and local tax jurisdictions where it is required to file income tax returns. If the Company determines that uncertainties in tax positions exist, a reserve is established. The Company recognizes accrued interest and penalties related to uncertain tax positions within income tax expense in the condensed consolidated statements of operations. Tax laws are complex and subject to different interpretations by the taxpayer and respective governmental taxing authorities. Significant judgment is required in determining tax expense and in evaluating tax positions, including evaluating uncertainties. The Company reviews its tax positions quarterly and adjusts its tax balances as new information becomes available. The Oaktree funds are generally not subject to U.S. federal and state income taxes and, consequently, no income tax provision has been made in the accompanying condensed consolidated financial statements because individual partners are responsible for their proportionate share of the taxable income. Comprehensive Income (Loss) Comprehensive income (loss) consists of net income (loss) and other gains and losses affecting unitholders’ capital that are excluded from net income (loss). Other gains and losses result from foreign-currency translation adjustments, net of tax. Following the 2024 Restructuring and the deconsolidation of Oaktree Capital I, the Company is generally not subject to direct foreign-currency translation adjustments. Accounting Policies of Consolidated Funds Investment Transactions and Inco

REVENUES

REVENUES	9 Months Ended
REVENUES	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES Prior to the 2024 Restructuring, the Company earned incentive income generated by the funds , for which Oaktree Capital I served as general partner. These revenues were affected by economic factors related to the asset class composition of the holdings and the contractual terms such as the basis for calculating the incentive income and investors’ ability to redeem. As a result of the 2024 Restructuring, incentive income is no longer recognized by the Company due to the deconsolidation of Oaktree Capital I. The Company’s proportionate share of incentive income earned by Oaktree Capital I is included as a component of investment income. The economics resulting from Oaktree Capital I’s right to earn incentive income are reflected in the Company’s results through investment income earned from its equity method investment in Oaktree Capital I. Incentive income revenues by fund structure are set forth below. Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Incentive Income Closed-end $ — $ — $ 112,497 $ 60,963 Evergreen — 5 5,032 515 Total $ — $ 5 $ 117,529 $ 61,478 Additionally, the Company earns investment income from the investments the Company makes in its investment in Oaktree Capital I, Oaktree funds, third-party funds and other companies. Revenues by investment types are set forth below. Three months ended September 30, Nine months ended September 30, Investment Income (Loss) 2024 2023 2024 2023 Equity-method investments: Funds $ 3,847 $ 8,075 $ 27,398 $ 22,967 Companies 21,432 7 20,972 4 Other investments, at fair value — 17,415 11,663 12,407 Total investment income (loss) $ 25,279 $ 25,497 $ 60,033 $ 35,378 Contract Balances Prior to the 2024 Restructuring, the Company received incentive income in accordance with its contracts with customers. Incentive income is received generally after all contributed capital and the preferred return on that capital have been distributed to the fund’s investors. Contract assets relate to the Company’s conditional right to receive payment for its performance completed under the contract. Receivables are recorded when the right to consideration becomes unconditional (i.e., only requires the passage of time). Contract liabilities (i.e., deferred revenues) relate to payments received in advance of performance under the contract. Contract liabilities are recognized as revenues when the Company provides investment management services. Subsequent to the 2024 Restructuring, the Company no longer recognizes contract assets, as it no longer earns the corresponding incentive income due to the deconsolidation of Oaktree Capital I. The table below sets forth contract balances for the periods indicated: As of September 30, 2024 December 31, 2023 Receivables $ — $ 9,407 Contract assets (1) — 192,645 (1) The changes in the balances primarily relate to accruals, net of payments received.

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES	9 Months Ended
VARIABLE INTEREST ENTITIES	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
VARIABLE INTEREST ENTITIES	VARIABLE INTEREST ENTITIES The Company consolidates VIEs for which Oaktree is the primary beneficiary. VIEs include funds managed by Oaktree and CLOs for which Oaktree acts as collateral manager. The purpose of these VIEs is to provide investment opportunities for investors in exchange for management fees and, in certain cases, performance-based fees. While the investment strategies of the funds and CLOs differ by product, in general the fundamental risks of the funds and CLOs have similar characteristics, including loss of invested capital and reduction or absence of management and performance-based fees. As general partner or collateral manager, respectively, Oaktree generally considers itself the sponsor of the applicable fund or CLO. The Company does not provide performance guarantees and, other than capital commitments, has no financial obligation to provide funding to VIEs. Consolidated VIEs As of September 30, 2024, the Company consolidated 2 VIEs through which interests are held in Oaktree Opportunities Fund XI, LP and Oaktree Opportunities Fund XII, L.P. as the Company was the primary beneficiary. As of December 31, 2023, the Company consolidated 9 VIEs. As of September 30, 2024, the assets and liabilities of the 2 consolidated VIEs amounted to $5.5 billion and $1.6 billion, respectively. The assets of these consolidated VIEs primarily consisted of investments in debt and equity securities, while their liabilities primarily represented debt obligations issued by consolidated funds. The assets of these VIEs may be used only to settle obligations of the same VIE. In addition, there is no recourse to the Company for the VIEs’ liabilities. As of September 30, 2024, the Company’s investments in consolidated VIEs had a carrying value of $0.8 billion, which represented its maximum risk of loss as of that date. Unconsolidated VIEs The Company held variable interests in certain VIEs in the form of direct equity interests that are not consolidated because it is not the primary beneficiary, inasmuch as Oaktree’s fee arrangements are considered at-market and it does not hold interests in those entities that are considered more than insignificant. The carrying value of the Company’s investments in VIEs that were not consolidated are shown below. Carrying Value as of September 30, 2024 December 31, 2023 Corporate investments $ 1,149,485 $ 999,112 Due from affiliates 227 199,861 Maximum exposure to loss $ 1,149,712 $ 1,198,973 The Company continues to consolidate the respective vehicles through which interests are held in Oaktree Opportunities Fund XI, L.P. and Oaktree Opportunities Fund XII, L.P. as the Company remains the primary beneficiary. In connection with the 2024 Restructuring, the Company derecognized the assets and liabilities held by Oaktree Capital I at carrying value as the restructuring occurred between entities under common control of OCGH and no gain or loss was recorded. Impacts of the deconsolidation of Oaktree Capital I due to the 2024 Restructuring are set forth below: As of July 1, 2024 Assets: Cash and cash-equivalents $ (8,805) U.S. Treasury and government agency securities (170,000) Receivables and other assets (58,517) Due from affiliates (8,543) Corporate investments (1,163,351) Assets of consolidated funds (1,711,868) Total assets (3,121,084) Liabilities and Capital: Liabilities: Accounts payable and accrued expenses $ 49,176 Due to affiliates 50,014 Debt obligations 213,161 Liabilities of consolidated funds 1,021,629 Total liabilities 1,333,980 Non-controlling redeemable interests in consolidated funds 339,111 Unitholders’ Capital: Capital attributable to BOH preferred unitholders 400,584 Capital attributable to BOH Class A unitholders 763,724 Non-controlling interest in consolidated subsidiaries 283,685 Total unitholders’ capital 1,447,993 Total liabilities and capital $ 3,121,084

INVESTMENTS

INVESTMENTS	9 Months Ended
INVESTMENTS	Sep. 30, 2024
Investments [Abstract]
INVESTMENTS	INVESTMENTS Corporate Investments Corporate investments consisted of the following: As of Corporate Investments September 30, 2024 December 31, 2023 Equity-method investments: Funds $ 313,695 $ 1,434,988 Companies 1,140,073 11,901 Other investments, at fair value — 85,319 Total corporate investments $ 1,453,768 $ 1,532,208 Equity-method Investments The Company’s equity-method investments include its investments in funds and companies that are not consolidated, but for which the Company is deemed to have significant influence. The Company’s share of income or loss generated by these investments is recorded within investment income in the condensed consolidated statements of operations. The Company’s equity-method investments in Oaktree funds principally reflect the Company’s general partner interests in those funds, which typically do not exceed 2.5% in each fund. The Oaktree funds are investment companies that follow a specialized basis of accounting established by GAAP. In connection with the 2024 Restructuring, the Company determined that it is no longer the primary beneficiary of Oaktree Capital I and deconsolidated the entity, which is accounted for as an equity method investment beginning with the third quarter of 2024. On June 27, 2023, the Company entered into a contribution agreement with Brookfield Corporate Treasury Ltd. and acquired the equity ownership in certain entities which beneficially own shares in Brookfield Real Estate Income Trust. The Company accounted for the acquired interests as equity method investments with fair value election. The fair value option has been elected to simplify the accounting for the investment in OCG NTR Holdings, LLC, a wholly owned subsidiary of the Company (“NTR”). Changes in the fair value and cash dividends received from the investment in NTR are included in investment income. During the three and nine months ended September 30, 2024, the Company recognized an equity investment gain of $3.5 million and an equity investment loss of $13.1 million, respectively . Please refer to note 14 for the detailed description of the transaction. Each reporting period, the Company evaluates each of its equity-method investments to determine if any are considered significant, as defined by the SEC. As of September 30, 2024, or for the three months ended September 30, 2024, the Company determined Oaktree Capital I met the significance criteria. No other individual equity method investment met the significance criteria. Summarized financial information of Oaktree Capital I is set forth below. Three months ended September 30, Nine months ended September 30, Statements of Operations 2024 2024 Revenues / investment income $ 43,996 $ 43,996 Interest expense (9,527) (9,527) Other expenses (4,504) (4,504) Net realized and unrealized gain (loss) on investments 10,357 10,357 Net income $ 40,322 $ 40,322 Summarized financial information of the Company’s remaining equity-method investments is set forth below. Three months ended September 30, Nine months ended September 30, Statements of Operations 2024 2023 2024 2023 Revenues / investment income $ 45,346 $ 978,794 $ 2,294,361 $ 3,219,919 Interest expense (18,957) (124,648) (327,379) (408,648) Other expenses (66,862) (214,634) (649,763) (685,585) Net realized and unrealized gain (loss) on investments 34,475 158,029 1,902,040 43,295 Net income (loss) $ (5,998) $ 797,541 $ 3,219,259 $ 2,168,981 Other Investments, at Fair Value Other investments, at fair value has primarily consisted of (a) investments in certain Oaktree and non-Oaktree funds, (b) non-investment grade debt securities, (c) equities received as part of our sponsorship of SPACs and (d) derivatives utilized to hedge the Company’s exposure to investment income earned from its funds. The following table summarizes net gains (losses) attributable to the Company’s other investments at fair value: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Realized gain (loss) $ — $ 1,031 $ 9,504 $ 3,182 Net change in unrealized gain (loss) — 16,384 2,159 9,225 Total gain (loss) $ — $ 17,415 $ 11,663 $ 12,407 Investments of Consolidated Funds Investments, at Fair Value Investments held and securities sold short by the consolidated funds are summarized below: Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 United States: Debt securities: Communication services $ 166,139 $ 69,509 3.4 % 1.4 % Consumer discretionary 127,105 202,355 2.6 3.9 Consumer staples 27,581 28,149 0.6 0.5 Energy 37,205 110,990 0.8 2.2 Financials 159,842 223,794 3.3 4.4 Health care 259,596 226,554 5.4 4.4 Industrials 204,830 379,538 4.2 7.5 Information technology 42,078 87,355 0.9 1.7 Materials 56,200 333,459 1.2 6.5 Real estate 57,771 97,621 1.2 1.9 Utilities 13,601 19,954 0.3 0.4 Other 670,013 549,164 13.7 10.6 Total debt securities (cost: $1,750,731 and $2,341,421 as of September 30, 2024 and December 31, 2023, respectively) 1,821,961 2,328,442 37.6 45.4 Equity securities: Communication services 58,344 79,522 1.2 1.5 Consumer discretionary 37,656 68,056 0.8 1.3 Energy 474,510 427,034 9.8 8.3 Financials 263,244 171,924 5.4 3.3 Health care 61,886 32,418 1.3 0.6 Industrials 471,198 369,019 9.7 7.2 Information technology 54,258 44,350 1.1 0.9 Materials 11,808 — 0.2 0.0 Utilities 7,367 89,427 0.2 1.7 Total equity securities (cost: $1,220,798 and $1,095,721 as of September 30, 2024 and December 31, 2023, respectively) 1,440,271 1,281,750 29.7 24.8 Real estate: Real estate 13,739 13,780 0.3 0.3 Financials 41,402 — 0.9 0.0 Total real estate securities (cost: $65,930 and $22,716 as of September 30, 2024 and December 31, 2023, respectively) 55,141 13,780 1.2 0.3 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 Europe: Debt securities: Communication services $ (1,965) $ 111,898 — % 2.1 % Consumer discretionary — 18,560 — 0.4 Consumer staples — 3,107 — 0.1 Energy — 1,185 — 0.0 Financials — 18,381 — 0.4 Health care 82,601 12,136 1.7 0.2 Industrials 4,478 15,993 0.1 0.3 Information technology — 5,402 — 0.1 Materials — 13,487 — 0.3 Real estate 53,386 13,424 1.1 0.3 Utilities — 5,417 — 0.1 Other 43,203 34,686 0.9 0.6 Total debt securities (cost: $168,431 and $231,315 as of September 30, 2024 and December 31, 2023, respectively) 181,703 253,676 3.8 4.9 Equity securities: Communication Services 70,661 — 1.5 — Consumer discretionary 44,383 52,468 0.9 1.0 Materials 24,282 24,282 0.5 0.5 Financials 48,873 49,496 1.0 1.0 Health care — 19 — 0.0 Industrials 103,573 93,662 2.1 1.7 Real estate 43,699 44,637 0.9 0.9 Total equity securities (cost: $262,804 and $208,130 as of September 30, 2024 and December 31, 2023, respectively) 335,471 264,564 6.9 5.1 Real estate: Consumer Discretionary 71,536 61,357 1.5 1.2 Real estate 133,429 100,216 2.8 1.9 Total real estate securities (cost: $181,760 and $159,423 as of September 30, 2024 and December 31, 2023, respectively) 204,965 161,573 4.3 3.1 Asia and other: Debt securities: Communication services — 803 — 0.0 Consumer discretionary 45,296 17,195 0.9 0.3 Consumer staples 18,779 19,820 0.4 0.4 Energy — 1,307 — 0.0 Financials — 8,192 — 0.2 Health care — 402 — 0.0 Industrials — 4,181 — 0.1 Information technology — 5 — 0.0 Materials 243,440 249,492 5.0 4.9 Real estate 370,429 435,799 7.6 8.5 Utilities — 3,244 — 0.1 Total debt securities (cost: $689,075 and $761,394 as of September 30, 2024 and December 31, 2023, respectively) 677,944 740,440 13.9 14.5 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 Asia and other: Equity securities: Industrials $ 86,453 $ 63,161 1.8 % 1.2 % Real estate 32,916 32,916 0.7 0.6 Utilities 6,050 3,375 0.1 0.1 Total equity securities (cost: $106,079 and $90,638 as of September 30, 2024 and December 31, 2023, respectively) 125,419 99,452 2.6 1.9 Total debt securities 2,681,608 3,322,558 55.3 64.8 Total equity securities 1,901,161 1,645,766 39.3 31.8 Total real estate 260,106 175,353 5.4 3.4 Total investments, at fair value $ 4,842,875 $ 5,143,677 100.0 % 100.0 % As of September 30, 2024 and December 31, 2023, no single issuer or investment had a fair value that exceeded 5% of the Company’s total consolidated net assets. Net Gains (Losses) From Investment Activities of Consolidated Funds Net gains (losses) from investment activities in the condensed consolidated statements of operations consist primarily of realized and unrealized gains and losses on the consolidated funds’ investments (including foreign exchange gains and losses attributable to foreign-denominated investments and related activities) and other financial instruments. Unrealized gains or losses result from changes in the fair value of these investments and other financial instruments. Upon disposition of an investment, unrealized gains or losses are reversed and an offsetting realized gain or loss is recognized in the current period. The following table summarizes net gains (losses) from investment activities: Three months ended September 30, 2024 2023 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Investments and other financial instruments $ 30,142 $ 64,925 $ 9,364 $ (22,929) Foreign-currency forward contracts (2) 646 (20,101) 4 14,990 Total return, interest rate and credit default swaps (2) — 7,860 693 (480) Options and futures (2) 822 — 1,495 141 Commodity swaps (2) 923 (217) 2,495 (1,081) Total $ 32,533 $ 52,467 $ 14,051 $ (9,359) Nine months ended September 30, 2024 2023 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Investments and other financial instruments $ 26,283 $ 155,848 $ 66,831 $ (64,867) CLO liabilities (1) 185 1,597 — — Foreign-currency forward contracts (2) 411 (14,189) (1,517) 4,410 Total-return and interest-rate swaps (2) — 11,448 810 (24) Options and futures (2) 584 1,600 2,567 877 Commodity swaps (2) 8,151 (8,658) 7,741 12,274 Total $ 35,614 $ 147,646 $ 76,432 $ (47,330) (1) Represents the net change in the fair value of CLO liabilities based on the more observable fair value of CLO assets, as measured under the CLO measurement guidance. Please see note 2 for more information. (2)

FAIR VALUE

FAIR VALUE	9 Months Ended
FAIR VALUE	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE	FAIR VALUE Fair Value of Financial Assets and Liabilities The short-term nature of cash and cash-equivalents, U.S. Treasury and other securities, receivables and accounts payable causes each of their carrying values to approximate fair value. The fair value of short-term investments included in cash and cash-equivalents and U.S. Treasury and other securities is a Level I valuation. The Company’s other financial assets and financial liabilities by fair-value hierarchy level are set forth below. Please see notes 8 and 14 for the fair value of the Company’s outstanding debt obligations and amounts due from/to affiliates, respectively. Following the 2024 Restructuring, with the deconsolidation of Oaktree Capital I, the Company no longer holds any debt obligations. As of September 30, 2024 As of December 31, 2023 Level I Level II Level III Total Level I Level II Level III Total Assets Corporate investments $ — $ 304,283 $ — $ 304,283 $ 72,085 $ 317,551 $ 20,994 $ 410,630 SPAC common stock and earn-out shares included in other assets — — — — 25,360 — 1,797 27,157 Foreign-currency forward contracts included in other assets — — — — — 8,098 — 8,098 Total assets $ — $ 304,283 $ — $ 304,283 $ 97,445 $ 325,649 $ 22,791 $ 445,885 Liabilities Foreign-currency forward contracts - included in corporate investments $ — $ — $ — $ — $ — $ (8,010) $ — $ (8,010) Total liabilities $ — $ — $ — $ — $ — $ (8,010) $ — $ (8,010) Fair Value of Financial Instruments Held By Consolidated Funds The short-term nature of cash and cash-equivalents held at the consolidated funds causes their carrying value to approximate fair value. The fair value of cash-equivalents is a Level I valuation. Derivatives may relate to a mix of Level I, II or III investments, and therefore their fair-value hierarchy level may not correspond to the fair-value hierarchy level of the economically hedged investment. The table below summarizes the investments and other financial instruments of the consolidated funds by fair-value hierarchy level: As of September 30, 2024 As of December 31, 2023 Level I Level II Level III Total Level I Level II Level III Total Assets Investments: Corporate debt – bank debt $ — $ 567,695 $ 1,712,311 $ 2,280,006 $ — $ 641,615 $ 1,721,888 $ 2,363,503 Corporate debt – all other — 300,972 100,630 401,602 — 698,763 260,292 959,055 Equities – common stock 187,997 37,057 1,103,607 1,328,661 165,649 31,779 846,773 1,044,201 Equities – preferred stock 2,333 — 570,167 572,500 1,929 — 599,636 601,565 Real estate — — 260,106 260,106 — — 175,353 175,353 Total investments 190,330 905,724 3,746,821 4,842,875 167,578 1,372,157 3,603,942 5,143,677 Derivatives: Foreign-currency forward contracts — 426 — 426 — 475 — 475 Swaps — 11,448 18,221 29,669 8,658 — — 8,658 Total derivatives (1) — 11,874 18,221 30,095 8,658 475 — 9,133 Total assets $ 190,330 $ 917,598 $ 3,765,042 $ 4,872,970 $ 176,236 $ 1,372,632 $ 3,603,942 $ 5,152,810 Liabilities Derivatives: Foreign-currency forward contracts $ — $ (33,743) $ — $ (33,743) $ — $ (21,659) $ — $ (21,659) Options and futures (426) — — (426) (571) — — (571) Total derivatives (2) (426) (33,743) — (34,169) (571) (21,659) — (22,230) Total liabilities $ (426) $ (33,743) $ — $ (34,169) $ (571) $ (21,659) $ — $ (22,230) (1) Amounts are included in derivative assets under “assets of consolidated funds” in the condensed consolidated statements of financial condition. (2) Amounts are included in derivative liabilities under “liabilities of consolidated funds” in the condensed consolidated statements of financial condition. The following tables set forth a summary of changes in the fair value of Level III investments: Corporate Debt – Bank Debt Corporate Debt – All Other Equities – Common Stock Equities – Preferred Stock Real Estate Swaps Total Three months ended September 30, 2024 Beginning balance $ 1,654,942 $ 198,028 $ 1,049,656 $ 667,154 $ 246,862 $ 18,254 $ 3,834,896 Deconsolidation of funds (70,255) (10) (575) (2,356) — (73,196) Transfers into Level III 136,725 11,231 84,494 153 17,603 — 250,206 Transfers out of Level III (105,000) (93,971) (57,113) (7,134) (28,618) — (291,836) Purchases 173,975 134 29,316 24,043 21,572 6 249,046 Sales (87,091) (8,496) (32,785) (121,764) (17,732) — (267,868) Realized gain (losses), net 1,502 (155) 3,217 30,760 — (39) 35,285 Unrealized appreciation (depreciation), net 7,513 (6,131) 27,397 (20,689) 20,419 — 28,509 Ending balance $ 1,712,311 $ 100,630 $ 1,103,607 $ 570,167 $ 260,106 $ 18,221 $ 3,765,042 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (125) $ (3,539) $ 33,705 $ (20,028) $ 20,419 $ — $ 30,432 Three months ended September 30, 2023 Beginning balance $ 1,262,634 $ 177,323 $ 809,676 $ 618,684 $ 88,675 $ — $ 2,956,992 Transfers into Level III 167,450 — — — — — 167,450 Transfers out of Level III (112,066) (1,485) — — — — (113,551) Purchases 54,335 944 7,055 14,182 4,870 — 81,386 Sales (26,266) (14,498) (4,167) (11,884) — — (56,815) Realized gain (losses), net 329 (244) (785) (4,073) (236) — (5,009) Unrealized appreciation (depreciation), net (11,871) (133) 15,328 (26,598) (722) — (23,996) Ending balance $ 1,334,545 $ 161,907 $ 827,107 $ 590,311 $ 92,587 $ — $ 3,006,457 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (12,374) $ (193) $ 15,254 $ (26,483) $ (722) $ — $ (24,518) Corporate Debt – Bank Debt Corporate Debt – All Other Equities – Common Stock Equities – Preferred Stock Real Estate Swaps Total Nine months ended September 30, 2024 Beginning balance $ 1,721,888 $ 260,292 $ 846,773 $ 599,636 $ 175,353 $ — $ 3,603,942 Deconsolidation of funds (70,255) (10) (575) (2,356) — — (73,196) Initial consolidation of funds 2,962 — — — — — 2,962 Transfers into Level III 358,757 26,590 139,172 153 23,738 — 548,410 Transfers out of Level III (388,815) (159,901) (72,773) (7,134) (28,618) — (657,241) Purchases 516,419 25,727 235,083 102,272 89,190 18,221 986,912 Sales (444,229) (46,636) (124,069) (154,744) (17,732) — (787,410) Realized gain, net 5,505 (407) 51,081 (57,207) — — (1,028) Unrealized appreciation (depreciation), net 10,079 (5,025) 28,915 89,547 18,175 — 141,691 Ending balance $ 1,712,311 $ 100,630 $ 1,103,607 $ 570,167 $ 260,106 $ 18,221 $ 3,765,042 Net change in unrealized appreciation attributable to assets still held at end of period $ 12,230 $ (5,174) $ 28,804 $ 89,330 $ 18,175 $ — $ 143,365 Nine months ended September 30, 2023 Beginning balance $ 702,497 $ 219,503 $ 777,198 $ 616,604 $ 74,471 $ — $ 2,390,273 Transfers into Level III 168,379 8,903 17,267 — — — 194,549 Transfers out of Level III (116,707) (2,463) — — — — (119,170) Purchases 676,120 2,667 58,013 54,601 18,591 — 809,992 Sales (69,887) (70,674) (47,335) (47,421) — — (235,317) Realized losses, net 477 (671) 20,465 4,937 (239) — 24,969 Unrealized appreciation (depreciation), net (26,334) 4,642 1,499 (38,410) (236) — (58,839) Ending balance $ 1,334,545 $ 161,907 $ 827,107 $ 590,311 $ 92,587 $ — $ 3,006,457 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (26,859) $ 4,560 $ 1,476 $ (38,410) $ (234) $ — $ (59,467) -`------------- Total realized and unrealized gains and losses recorded for Level III investments are included in net realized gain on consolidated funds’ investments or net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the condensed consolidated statements of operations. Transfers out of Level III are generally attributable to certain investments that experienced a more significant level of market trading activity or completed an initial public offering during the respective period and thus were valued using observable inputs. Transfers into Level III typically reflect either investments that experienced a less significant level of market trading activity during the period or portfolio companies that underto ok restructurings or bankruptcy proceedings and thus were valued in the absence of observable inputs. The following table sets forth a summary of the valuation techniques and quantitative information utilized in determining the fair value of the consolidated funds’ Level III investments as of September 30, 2024: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (1)(2) Range Weighted Average (3) Credit-oriented investments: Consumer discretionary: $ 64,850 Discounted cash flow (4) Discount rate 15% - 18% 16% 23,484 Recent transaction price (4) Quoted prices Not applicable Not applicable 13,231 Recent market information (5) Quoted prices Not applicable Not applicable 21,811 Market approach (comparable companies) (7) Multiple of underlying assets (9) 1x - 1x 1x Energy 2,254 Recent market information (5) Quoted prices Not applicable Not applicable 34,951 Discounted cash flow (4) Discount rate 14% - 14% 14% Financials 19,219 Market approach (comparable companies) (7) Multiple of underlying assets (9) 0.5x - 1x 0.9x 47,368 Discounted cash flow (6) Discount rate 5% - 13% 8% 38,096 Recent market information (5) Quoted prices Not applicable Not applicable 12,748 Recent transaction price (4) Quoted prices Not applicable Not applicable 11 Expected Recovery (11) Not applicable Not applicable Not applicable Industrials 79,015 Discounted cash flow (6) Discount rate 8% - 19% 15% (45) Recent market information (5) Quoted prices Not applicable Not applicable 4,478 Recent transaction price (4) Quoted prices Not applicable Not applicable 526 Market approach (comparable companies) (7) Earnings multiple (10) 7x - 7x 7x Materials 164,438 Discounted cash flow (6) Discount rate 13% - 14% 13% 1,896 Recent market information (5) Quoted prices Not applicable Not applicable 78,798 Recent transaction price (4) Quoted prices Not applicable Not applicable Real estate 25,819 Recent market information (7) Quoted prices Not applicable Not applicable 63,214 Recent transaction price (4) Quoted prices Not applicable Not applicable 193,245 Discounted cash flow (6) Discount rate 5% - 15% 14% 163,257 Market approach (comparable companies) (7) Multiple of underlying assets (9) 1x - 1x 1x Other 27,795 Recent market information (5) Quoted prices Not applicable Not applicable 691,221 Discounted cash flow (6) Discount rate 7% - 18% 16% 25,284 Recent transaction price (4) Quoted prices Not applicable Not applicable 23,488 Market approach (comparable companies) (7) Earnings multiple (10) 7x - 7.5x 7.1x 10,710 Market approach (comparable companies) (7) Revenue multiple (8) 2x - 2x 2x Equity investments: 296,264 Recent transaction price (4) Quoted prices Not applicable Not applicable 1,233 Recent market information (5) Quoted prices Not applicable Not applicable 131,552 Discounted cash flow (6) Discount rate 12% - 18% 15% 23,466 Discounted cash flow (6) / market approach (comparable companies) (7) Discount rate 13% - 13% 13% Earnings multiple (10) 10.0x - 12.0x 11.0x 385,243 Market approach (comparable companies) (7) Earnings multiple (10) 5.0x - 16.0x 9.0x 34,483 Market approach (comparable companies) (7) Revenue multiple (8) 2.0x - 2.0x 2.0x 790,020 Market approach (comparable companies) (7) Multiple of underlying assets (9) 1.0x - 2x 1.0x 10,059 Expected Recovery (11) Not applicable Not applicable Not applicable 1,454 Black Scholes (12) Not applicable Not applicable Not applicable Real estate-oriented investments: Consumer discretionary: 71,536 Discounted cash flow (6) Discount rate 20% - 20% 20% Financials 41,402 Recent transaction price (4) Quoted prices Not applicable Not applicable Real estate: 147,168 Discounted cash flow (6) Discount rate 5% - 26% 15% Total Level III $ 3,765,042 The following table sets forth a summary of the valuation techniques and quantitative information utilized in determining the fair value of the consolidated funds’ Level III investments as of December 31, 2023: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (1)(2) Range Weighted Average (3) Credit-oriented investments: Consumer discretionary $ 11,311 Recent transaction price (4) Quoted prices Not applicable Not applicable 351 Recent market information (5) Quoted prices Not applicable Not applicable 55,326 Discounted cash flow (6) Discount rate 13% – 17% 16% Energy 15,873 Discounted cash flow (6) Discount rate 14% – 14% 14% 69,871 Recent transaction price (4) Quoted prices Not applicable Not applicable 2,325 Recent market information (5) Quoted prices Not applicable Not applicable Financials 26,689 Discounted cash flow (6) Discount rate 12% – 15% 15% 26,102 Recent market information (5) Quoted prices Not applicable Not applicable 3,646 Recent transaction price (4) Quoted prices Not applicable Not applicable 20,520 Market approach (comparable companies) (7) Multiple of underlying assets (9) 0.5x - 1.0x 0.7x Industrials 79,824 Discounted cash flow (6) Discount rate 11% – 15% 13% 62,544 Market approach (comparable companies) (7) Earnings multiple (10) 9.8x - 9.8x 9.8x 452 Recent market information (5) Quoted prices Not applicable Not applicable 51,788 Recent transaction price (4) Quoted prices Not applicable Not applicable Materials 306,319 Discounted cash flow (6) Discount rate 10% – 15% 12% 193,614 Recent transaction price (4) Quoted prices Not applicable Not applicable — Recent market information (5) Quoted prices Not applicable Not applicable Real estate 35,084 Recent transaction price (4) Quoted prices Not applicable Not applicable 211,211 Discounted cash flow (6) Discount rate 13% – 15% 15% 193,771 Market approach (comparable companies) (7) Multiple of underlying assets (9) 1.0x -1.0x 1.0x 37,419 Recent market information (5) Quoted prices Not applicable Not applicable Other 4,316 Recent market information (5) Quoted prices Not applicable Not applicable 1,612 Recent transaction price (4) Quoted prices Not applicable Not applicable 19,820 Market approach (comparable companies) (7) Earnings multiple (10) 6.0x - 6.0x 6.0x 1,345 Market approach (comparable companies) (7) Revenue multiple (8) 0.3x - 0.3x 0.3x 551,047 Discounted cash flow (6) Discount rate 9% – 19% 18% Equity investments: 179,009 Recent transaction price (4) Quoted prices Not applicable Not applicable 670,215 Market approach (comparable companies) (7) Multiple of underlying assets (9) 0.9x - 1.0x 1.0x 396,688 Market approach (comparable companies) (7) Earnings multiple (10) 2.0x - 11.0x 8.5x 102,981 Discounted cash flow (6) Discount rate 12% – 20% 15% 60,841 Market approach (comparable companies) (7) Revenue multiple (8) 1.0x - 2.0x 1.5x 22,573 Discounted cash flow (6) / Market approach (comparable companies) (7) Discount rate 12% – 12% 12% Earnings multiple (10) 9.0x - 11.0x 10.0x 14,102 Recent market information (5) Quoted prices Not applicable Not applicable Real estate-oriented: Consumer discretionary 61,357 Discounted cash flow (6) Discount rate 20% – 20% 20% Real estate: 113,996 Discounted cash flow (6) Discount rate 4% – 27% 14% Total Level III $ 3,603,942 (1) The discount rate is the significant unobservable input used in the fair-value measurement of performing credit-oriented investments in which the consolidated funds do not have a controlling interest in the underlying issuer, as well as certain equity investments and real estate loan portfolios. An increase (decrease) in the discount rate would result in a lower (higher) fair-value measurement. (2) Multiple of either earnings or underlying assets is the significant unobservable input used in the market approach for the fair-value measurement of distressed credit-oriented investments, credit-oriented investments in which the consolidated funds have a controlling interest in the underlying issuer, equity investments and certain real estate-oriented investments. An increase (decrease) in the multiple would result in a higher (lower) fair-value measurement. (3) The weighted average is based on the fair value of the investments included in the range. (4) Certain investments are valued based on recent transactions, generally defined as investments 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. (5) Certain investments are valued using vendor prices or broker quotes for the subject or similar securities. Generally, investments valued in this manner are 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. (6) A discounted cash-flow method is generally used to value performing credit-oriented investments in which the consolidated funds do not have a controlling interest in the underlying issuer, as well as certain equity investments, real estate-oriented investments and real estate loan portfolios. (7) A market approach is generally used to value distressed investments and investments in which the consolidated funds have a controlling interest in the underlying. (8) Revenue multiples are based on comparable public companies and transactions with comparable companies. The Company typically applies the multiple to trailing twelve-months’ revenue. However, in certain cases other revenue measures, such as pro forma revenue, may be utilized if deemed to be more relevant. (9) A market approach using the value of underlying assets utilizes a multiple, based on comparable companies, of underlying assets or the net book value of the portfolio company. The Company typically obtains the value of underlying assets from the underlying portfolio company’s financial statements or from pricing vendors. The Company may value the underlying assets by using prices and other relevant information from market transactions involving comparable assets. (10) Earnings multiples are based on comparable public companies and transactions with comparable companies. The Company typically utilizes multiples of EBITDA; however, in certain cases the Company may use other earnings multiples believed to be most relevant to the investment. The Company typically applies the multiple to trailing twelve-months’ EBITDA. However, in certain cases other earnings measures, such as pro forma EBITDA, may be utilized if deemed to be more relevant. (11) Certain investments are valued based on expected recovery, generally representing the estimated value that can be recovered in the event of liquidation or winding down. (12) The fair value of options/warrants is estimated using the Black-Scholes-Merton valuation model. The company uses the following methods to determine the underlying assumptions: expected volatilities are based on the historical and implied volatilities of comparable companies or the subject company if the subject company is publicly traded; expected term is based on the shorter of the expected hold period for the option or the contractual term; and the risk-free rate is based on the yields on U.S. Treasury bills or bonds issued with similar terms to the expected term of the option. A significant amount of judgment may be required when using unobservable inputs, including assessing the accuracy of source data and the results of pricing models. The Company assesses the accuracy and reliability of the sources it uses to develop unobservable inputs. These sources may include third-party vendors that the Company believes are reliable and commonly utilized by other marketplace participants. As described in note 2, other factors beyond the unobservable inputs described above may have a significant impact on investment valuations. During the nine months ended September 30, 2024, the valuation techniques for four credit-oriented investments were changed from market approach (comparable companies) to discounted cash flow, three credit-oriented investments were changed from discounted cash flow to market approach (comparable companies) and one equity investment was changed from market approach (comparable companies) to recent market information. During the nine months ended September 30, 2023, the valuation technique for a credit-oriented investment was changed from discounted cash flow to market approach (value of underlying assets) and an equity investment was changed from market approach (comparable companies) to discounted cash flow. As a result of the 2024 Restructuring, the Company deconsolidated Oaktree Capital I and its consolidated subsidiaries, including its consolidated funds, effective July 1, 2024.

DERIVATIVES AND HEDGING

DERIVATIVES AND HEDGING	9 Months Ended
DERIVATIVES AND HEDGING	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING	DERIVATIVES AND HEDGING The fair value of freestanding derivatives consisted of the following: Assets Liabilities Notional Fair Value Notional Fair Value As of September 30, 2024 Foreign-currency forward contracts $ — $ — $ — $ — As of December 31, 2023 Foreign-currency forward contracts $ 221,910 $ 8,608 $ (234,353) $ (8,520) Realized and unrealized gains and losses arising from freestanding derivatives were recorded in the condensed consolidated statements of operations as follows: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Investment income $ — $ 7,544 $ 8,634 $ 4,935 General and administrative expense (1) — — (8,188) — Total gain (loss) $ — $ 7,544 $ 446 $ 4,935 (1) To the extent that the Company’s freestanding derivatives are utilized to hedge its foreign-currency exposure to investment income earned from consolidated funds, the related hedged items are eliminated in consolidation, with the derivative impact (a positive number reflects a reduction in expenses) reflected in consolidated general and administrative expense. There were no derivatives outstanding that were designated as hedging instruments for accounting purposes as of September 30, 2024 and December 31, 2023. Derivatives Held By Consolidated Funds Certain consolidated funds utilize derivatives in their ongoing investment operations. These derivatives primarily consist of foreign-currency forward contracts and options utilized to manage currency risk, interest-rate swaps to hedge interest-rate risk, options and futures used to hedge certain exposures for specific securities, and total-return swaps utilized mainly to obtain exposure to leveraged loans or to participate in foreign markets not readily accessible. The primary risk exposure for options and futures is price, while the primary risk exposure for total-return swaps is credit. None of the derivative instruments are accounted for as a hedging instrument utilizing hedge accounting. The fair value of derivatives held by the consolidated funds consisted of the following: Assets Liabilities Notional Fair Value Notional Fair Value As of September 30, 2024 Foreign-currency forward contracts $ 777,928 $ 426 $ (62,166) $ (33,743) Total-return and interest-rate and credit default swaps 214,884 29,669 — — Options and futures — — (9,049) (426) Total $ 992,812 $ 30,095 $ (71,215) $ (34,169) As of December 31, 2023 Foreign-currency forward contracts $ 508,174 $ 475 $ (118,263) $ (21,659) Total-return and interest-rate and credit default swaps 41,113 8,658 — — Options and futures 6,749 — (163,187) (571) Total $ 556,036 $ 9,133 $ (281,450) $ (22,230) The impact of derivatives held by the consolidated funds in the condensed consolidated statements of operations was as follows: Three months ended September 30, 2024 2023 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Foreign-currency forward contracts $ 646 $ (20,101) $ 4 $ 14,990 Total-return and interest-rate and credit default swaps — 7,860 693 (480) Options and futures 822 — 1,495 141 Commodity swaps 923 (217) 2,495 (1,081) Total $ 2,391 $ (12,458) $ 4,687 $ 13,570 Nine months ended September 30, 2024 2023 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Foreign-currency forward contracts $ 411 $ (14,189) $ (1,517) $ 4,410 Total-return and interest-rate and credit default swaps — 11,448 810 (24) Options and futures 584 1,600 2,567 877 Commodity swaps 8,151 (8,658) 7,741 12,274 Total $ 9,146 $ (9,799) $ 9,601 $ 17,537 Balance Sheet Offsetting The Company recognizes all derivatives as assets or liabilities at fair value in its condensed consolidated statements of financial condition. In connection with its derivative activities, the Company generally enters into agreements subject to enforceable master netting arrangements that allow the Company to offset derivative assets and liabilities in the same currency by specific derivative type or, in the event of default by the counterparty, to offset derivative assets and liabilities with the same counterparty. While these derivatives are eligible to be offset in accordance with applicable accounting guidance, the Company has elected to present derivative assets and liabilities based on gross fair value in its condensed consolidated statements of financial condition. The table below sets forth the setoff rights and related arrangements associated with derivatives held by the Company. The “gross amounts not offset in statements of financial condition” columns represent derivatives that management has elected not to offset in the condensed consolidated statements of financial condition even though they are eligible to be offset in accordance with applicable accounting guidance. Gross Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of September 30, 2024 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ — $ — $ — $ — Derivative assets of consolidated funds: Foreign-currency forward contracts 426 — — 426 Total-return and interest-rate and credit default swaps 29,669 — — 29,669 Options and futures — — — — Subtotal 30,095 — — 30,095 Total $ 30,095 $ — $ — $ 30,095 Derivative Liabilities: Foreign-currency forward contracts $ — $ — $ — $ — Derivative liabilities of consolidated funds: Foreign-currency forward contracts (33,743) — — (33,743) Total-return and interest-rate and credit default swaps — — — — Options and futures (426) — — (426) Subtotal (34,169) — — (34,169) Total $ (34,169) $ — $ — $ (34,169) Gross Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of December 31, 2023 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ 8,608 $ 510 $ — $ 8,098 Derivative assets of consolidated funds: Foreign-currency forward contracts 475 — — 475 Total-return and interest-rate and credit default swaps 8,658 — — 8,658 Options and futures — — — — Subtotal 9,133 — — 9,133 Total $ 17,741 $ 510 $ — $ 17,231 Derivative Liabilities: Foreign-currency forward contracts $ (8,520) $ (510) $ — $ (8,010) Derivative liabilities of consolidated funds: Foreign-currency forward contracts (21,659) — — (21,659) Total-return and interest-rate and credit default swaps — — — — Options and futures (571) — (571) Subtotal (22,230) — — (22,230) Total $ (30,750) $ (510) $ — $ (30,240) As a result of the deconsolidation of Oaktree Capital I and its consolidated subsidiaries due to the 2024 Restructuring effective July 1, 2024, derivative assets and derivative liabilities decreased by $0.8 million and $0.4 million, respectively, at July 1, 2024.

DEBT OBLIGATIONS AND CREDIT FAC

DEBT OBLIGATIONS AND CREDIT FACILITIES	9 Months Ended
DEBT OBLIGATIONS AND CREDIT FACILITIES	Sep. 30, 2024
Debt Disclosure [Abstract]
DEBT OBLIGATIONS AND CREDIT FACILITIES	DEBT OBLIGATIONS AND CREDIT FACILITIES Oaktree Capital I Debt Obligations On March 30, 2022, Oaktree Capital I entered into a note and guaranty agreement with certain accredited investors pursuant to which Oaktree Capital I agreed to issue and sell to such investors €50 million of its 2.20% Senior Notes, Series A, due 2032, €75 million of its 2.40% Senior Notes, Series B, due 2034, and €75 million of its 2.58% Senior Notes, Series C, due 2037. These notes are senior unsecured obligations of Oaktree Capital I, a consolidated subsidiary of the Company, and jointly and severally guaranteed by OCM, Oaktree Capital II and Oaktree AIF. The offering closed on June 8, 2022, and Oaktree Capital I received proceeds of €200 million on the closing date. Subsequent to the 2024 Restructuring, the Company’s financial statements no longer reflect debt obligations or related liabilities associated with Oaktree Capital I. As of September 30, 2024 December 31, 2023 Senior unsecured notes €50,000, 2.20%, issued in June 2022, payable on June 8, 2032 $ — $ 55,233 €75,000, 2.40%, issued in June 2022, payable on June 8, 2034 — 82,849 €75,000, 2.58%, issued in June 2022, payable on June 8, 2037 — 82,849 Total remaining principal — 220,931 Less: Debt issuance costs — (1,249) Total debt obligations, net $ — $ 219,682 Oaktree Capital I Guaranty Agreements As of September 30, 2024, OCM, Oaktree Capital I, Oaktree Capital II, Oaktree AIF and OCM Cayman are co-obligors and jointly and severally liable for all debt obligations listed below, while the debt obligations are reflected in the condensed consolidated financial statements based upon the entity that actually made the borrowing and received the related proceeds. Subsequent to the 2024 Restructuring, the Company’s financial statements no longer reflect debt obligations or related liabilities associated with Oaktree Capital I. On April 7, 2023, OCM, Oaktree Capital I, Oaktree Capital II, Oaktree AIF and OCM Cayman (collectively, the “Obligors”) entered into amendments to each of the note and guaranty agreements listed below for each series of outstanding senior notes issued by OCM and Oaktree Capital I. Pursuant to these amendments, OCM Cayman became a guarantor of each such series of senior notes. These amendments also amended certain provisions in these note and guaranty agreements, including financial definitions, in order to facilitate the joinder of OCM Cayman as an obligor. Additionally, the amendments for the note purchase agreements executed in 2014 and 2020 amended the assets under management covenants to clarify the treatment of entities that the Obligors account for using equity method accounting. On the same date that the note and guaranty agreement amendments took effect, OCM Cayman became a Borrower under the $650 million revolving credit facility with OCM, Oaktree Capital I, Oaktree Capital II and Oaktree AIF pursuant to a joinder agreement executed by OCM Cayman as part of the Seventh Amendment to the credit facility. On May 20, 2020, OCM entered into a note and guaranty agreement with certain accredited investors pursuant to which OCM agreed to issue and sell to such investors $250 million of senior unsecured notes that bear a blended 3.68% fixed rate of interest and a weighted average maturity of 2031. These notes are guaranteed by Oaktree Capital I, a consolidated subsidiary of the Company prior to the 2024 Restructuring, along with Oaktree Capital II, Oaktree AIF and OCM Cayman, as co-obligors. The offering closed on July 22, 2020 and OCM received proceeds of $250 million on the closing date. As OCM is the issuer of such senior notes, the outstanding principal and interest payments guaranteed by Oaktree Capital I were not included in the Company’s financial statements as no event of default has occurred. Oaktree Capital I, along with certain other Oaktree Operating Group members as co-borrowers, are parties to a credit agreement with a subsidiary of Brookfield that provides for a subordinated credit facility. The subordinated credit facility has a revolving loan commitment of $250 million and borrowings generally bear interest at a spread to either LIBOR or an alternative base rate. Borrowings on the subordinated credit facility are subordinate to the outstanding debt obligations and borrowings on the primary credit facility of Oaktree Capital I and its co-borrowers. Oaktree Capital I is jointly and severally liable, along with its co-obligors for outstanding borrowings on the subordinated credit facility. The Company’s financial statements generally would not reflect debt obligations, interest expense or related liabilities associated with the subordinated credit facility until such time as Oaktree Capital I (while it was still a consolidated subsidiary of the Company) directly borrows from it. In March 2022, this credit facility was amended to extend the revolving credit maturity date from May 19, 2023 to September 14, 2026. On October 6, 2023, an amendment was signed to further extend the maturity date to October 6, 2028 and change the interest rate to the SOFR plus 1.6% or an alternative base rate plus 0.5%. The amendment also provided that the maturity date will automatically extend annually in one-year increments until the lenders notify the borrowers of their intention to terminate the subordinated credit facility. On November 4, 2021, OCM entered into a note and guaranty agreement with certain accredited investors pursuant to which OCM agreed to issue and sell to such investors $200 million aggregate principal amount of its 3.06% Senior Notes due January 12, 2037. These notes are guaranteed by Oaktree Capital I, a consolidated subsidiary of the Company prior to the 2024 Restructuring, along with Oaktree Capital II and Oaktree AIF, as co-obligors. The offering closed on January 12, 2022 and OCM received proceeds of $200 million on the closing date. As OCM is the issuer of such notes, the outstanding principal and interest payments guaranteed by Oaktree Capital I were not included in the Company’s financial statements as no event of default has occurred. Oaktree’s bank credit facility was amended on September 14, 2021 to among other things, (i) extend the maturity date from December 13, 2024 to September 14, 2026, (ii) modify the assets under management covenant threshold from $65 billion of assets under management to $57.5 billion of management-fee generating assets under management and (iii) increase the maximum leverage ratio to 4.00 to 1.00. Oaktree’s credit facility was further amended on December 15, 2022 to among other things, extend the maturity date from September 14, 2026 to December 15, 2027 with the potential to extend the maturity for up to two The fair value of the Company’s debt obligations, which are carried at amortized cost, is a Level III valuation that is estimated based on a discounted cash-flow calculation using estimated rates that would be offered to Oaktree for debt of similar terms and maturities. The fair value of these debt obligations, gross of debt issuance costs, was $0.0 million and $175.9 million as of September 30, 2024 and December 31, 2023, respectively, utilizing average borrowing rates of 4.9% as of December 31, 2023. OCM and the Company were in compliance with all financial maintenance covenants associated with its senior notes and bank credit facility as of December 31, 2023. As of December 31, 2023, Oaktree Capital I is jointly and severally liable, along with its co-obligors, for the debt obligations listed below. As of September 30, 2024, Oaktree Capital I is no longer consolidated in the Company’s consolidated financial statements. The Company’s maximum exposure to Oaktree Capital I’s debt obligations is set forth below: As of September 30, 2024 December 31, 2023 Senior unsecured notes $50,000, 3.91%, issued in September 2014, payable on September 3, 2024 $ — $ 50,000 $100,000, 4.01%, issued in September 2014, payable on September 3, 2026 — 100,000 $100,000, 4.21%, issued in September 2014, payable on September 3, 2029 — 100,000 $100,000, 3.69%, issued in July 2016, payable on July 12, 2031 — 100,000 $250,000, 3.78%, issued in December 2017, payable on December 18, 2032 — 250,000 $200,000, 3.64%, issued in July 2020, payable on July 22, 2030 — 200,000 $50,000, 3.84%, issued in July 2020, payable on July 22, 2035 — 50,000 $200,000, 3.06%, issued in January 2022, payable on January 12, 2037 — 200,000 Total remaining principal $ — $ 1,050,000 Following the 2024 Restructuring, with the deconsolidation of Oaktree Capital I, BOH no longer reports debt obligations and related guarantees of Oaktree Capital I effective July 1, 2024. Debt Obligations of the Consolidated Funds Certain consolidated funds may maintain revolving credit facilities that are secured by the assets of the fund or may issue senior variable rate notes to fund investments on a longer term basis, generally up to ten years. The obligations of the consolidated funds are nonrecourse to the Company. The consolidated funds had the following debt obligations outstanding: Outstanding Amount as of Key terms as of September 30, 2024 Credit Agreement September 30, 2024 December 31, 2023 Facility Capacity Effective Interest Rate Weighted Average Remaining Maturity (years) Commitment Fee Rate L/C Fee Revolving credit facilities (1) $ 1,461,065 $ 951,950 $ 1,684,547 7.16% 0.74 0.25% 2.22% Less: Debt issuance costs (6,461) (6,155) Total debt obligations, net (2) $ 1,454,604 $ 945,795 (1) The credit facility capacity is calculated on a pro rata basis using fund commitments as of September 30, 2024. (2) Debt issuance costs are included in other assets as of September 30, 2024 and December 31, 2023. The carrying value of the revolving credit facilities approximated fair value due to recent issuance. Financial instruments that are valued using quoted prices for the security 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. Following the 2024 Restructuring, with the deconsolidation of Oaktree Capital I, which acts as or controls the general partner of certain Oaktree funds and which holds a majority of Oaktree’s investments in its funds, the debt obligations of the funds consolidated by Oaktree Capital I are accounted for as part of the equity investment in Oaktree Capital I.

NON-CONTROLLING REDEEMABLE INTE

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS	9 Months Ended
NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS	Sep. 30, 2024
Non-Controlling Redeemable Interests in Consolidated Funds [Abstract]
NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS	NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS The following table sets forth a summary of changes in the non-controlling redeemable interests in the consolidated funds. Dividends reinvested and in-kind contributions or distributions are non-cash in nature and have been presented on a gross basis in the table below. Nine months ended September 30, 2024 2023 Beginning balance $ 3,336,548 $ 2,182,414 Deconsolidation of funds (500,020) — Contributions 269,994 1,167,818 Distributions (397,474) (78,182) Net income 336,844 141,414 Change in distributions payable — (33) Foreign currency translation and other, net (1,005) (29) Ending balance $ 3,044,887 $ 3,413,402 As a result of the deconsolidation of Oaktree Capital I and its consolidated subsidiaries due to the 2024 Restructuring effective July 1, 2024, non-controlling redeemable interests in consolidated funds decreased by $334.1 million at July 1, 2024.

UNITHOLDERS' CAPITAL

UNITHOLDERS' CAPITAL	9 Months Ended
UNITHOLDERS' CAPITAL	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
UNITHOLDERS' CAPITAL	UNITHOLDERS’ CAPITAL Unitholders’ capital reflects the economic interests attributable to Class A unitholders, preferred unitholders, non-controlling interests in consolidated subsidiaries and non-controlling interests in consolidated funds. Non-controlling interests in consolidated subsidiaries represent the portion of unitholders’ capital attributable to the OCGH non-controlling interest and third parties. The OCGH non-controlling interest is determined at the Oaktree Operating Group level, after giving effect to distributions, if any, attributable to the preferred unitholders, based on the proportionate share of Oaktree Operating Group units held by the OCGH unitholders. Certain expenses, such as income taxes and related administrative expenses of Brookfield Oaktree Holdings, LLC and the holding companies through which the Company holds interests in Oaktree Capital I, are solely attributable to the Class A unitholders. As of September 30, 2024 and December 31, 2023, OCGH units represented 43,771,190 of the total 160,144,424 Oaktree Operating Group units and 50,915,764 of the total 160,114,755 Oaktree Operating Group units, respectively. Based on total allocable capital of $0 and $1,058,126 as of September 30, 2024 and December 31, 2023, respectively, the OCGH non-controlling interest was $0 and $333,195. As of September 30, 2024 and December 31, 2023, there were no non-controlling interests attributable to third parties. Following the 2024 Restructuring, any related equity interests and non-controlling interests in Oaktree Capital I will no longer be reflected as part of the Company’s unitholders’ capital. Preferred Unit Issuances On May 17, 2018, the Company issued 7,200,000 of its 6.625% Series A preferred units representing limited liability company interests with a liquidation preference of $25.00 per unit. The issuance resulted in $173.7 million in net proceeds to the Company. Distributions on the Series A preferred units, when and if declared by the board of directors of Oaktree, will be paid quarterly on March 15, June 15, September 15 and December 15 of each year. The first distribution was paid on September 17, 2018. Distributions on the Series A preferred units are non-cumulative. On August 9, 2018, the Company issued 9,400,000 of its 6.550% Series B preferred units representing limited liability company interests with a liquidation preference of $25.00 per unit. The issuance resulted in $226.9 million in net proceeds to the Company. Distributions on the Series B preferred units, when and if declared by the board of directors of Oaktree, will be paid quarterly on March 15, June 15, September 15 and December 15 of each year. The first distribution was paid on December 17, 2018. Distributions on the Series B preferred units are non-cumulative. Unless distributions have been declared and paid or declared and set apart for payment on the preferred units for a quarterly distribution period, during the remainder of that distribution period the Company may not repurchase any common units or any other units that are junior in rank, as to the payment of distributions, to the preferred units and the Company may not declare or pay or set apart payment for distributions on any common units or junior units for the remainder of that distribution period, other than certain Permitted Distributions (as defined in the unit designation related to the applicable preferred units (each, the “Preferred Unit Designation”)). The Company may redeem, at its option, out of funds legally available, at any time, in whole or in part, the Series A preferred units or the Series B preferred units, at a price of $25.00 per preferred unit plus declared and unpaid distributions to, but excluding, the redemption date, without payment of any undeclared distributions. Holders of the preferred units have no right to require the redemption of the preferred units. The preferred units are not convertible into Class A units or any other class or series of the Company’s interests or any other security. Holders of the preferred units do not have any of the voting rights given to holders of our Class A units, except that holders of the preferred units are entitled to certain voting rights under certain conditions. The following table sets forth a summary of net income attributable to the preferred unitholders, the OCGH and other non-controlling interests and the Class A common unitholders: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Weighted average Oaktree Operating Group units outstanding (in thousands): OCGH and other non-controlling interests 47,450 54,690 50,041 56,851 Class A unitholders 112,694 105,416 110,091 103,244 Total weighted average units outstanding 160,144 160,106 160,132 160,095 Oaktree Capital I net income: Net income attributable to preferred unitholders (1) $ 6,829 $ 6,829 $ 20,487 $ 20,487 Net income (loss) attributable to OCGH and other non-controlling interests 7,121 9,198 68,786 14,943 Net income (loss) attributable to BOH Class A unitholders 14,188 17,578 99,830 26,093 Oaktree Capital I net income (loss) $ 28,138 $ 33,605 $ 189,103 $ 61,523 Net income (loss) attributable to BOH Class A unitholders: Oaktree Capital I net income (loss) attributable to BOH Class A unitholders $ 14,188 $ 17,578 $ 99,830 $ 26,093 Non-Operating Group income (expense) 22,574 7,526 51,692 31,605 Net income (loss) attributable to BOH Class A unitholders $ 36,762 $ 25,104 $ 151,522 $ 57,698 (1) Represents distributions declared, if any, on the preferred units. The change in the Company’s ownership interest in the Oaktree Operating Group is set forth below: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Net income attributable to BOH Class A unitholders $ 36,762 $ 25,104 $ 151,522 $ 57,698 Equity reallocation between controlling and non-controlling interests — 1,402 33,948 36,484 Change from net income attributable to BOH Class A unitholders and transfers from non-controlling interests $ 36,762 $ 26,506 $ 185,470 $ 94,182 Please see notes 9, 10 and 11 for additional information regarding transactions that impacted unitholders’ capital.

EARNINGS PER UNIT

EARNINGS PER UNIT	9 Months Ended
EARNINGS PER UNIT	Sep. 30, 2024
Earnings Per Share [Abstract]
EARNINGS PER UNIT	EARNINGS PER UNIT The computation of net income (loss) per Class A unit is set forth below: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands, except per unit amounts) Net income per Class A unit (basic and diluted): Net income attributable to BOH Class A unitholders $ 36,762 $ 25,104 $ 151,522 $ 57,698 Weighted average number of Class A units outstanding (basic and diluted) 112,694 109,199 110,091 107,047 Basic and diluted net income (net of tax) per Class A unit $ 0.33 $ 0.23 $ 1.38 $ 0.54 OCGH units are not exchangeable into Class A units. As the restrictions set forth in the then-current exchange agreement were in place for each applicable reporting period, OCGH units were not included in the computation of diluted earnings per unit for the three and nine months ended September 30, 2024 and 2023. As a result of the 2024 Restructuring, earnings attributable to Oaktree Capital I are reflected in the Company's investment income for periods beginning in the third quarter of 2024.

INCOME TAXES AND RELATED PAYMEN

INCOME TAXES AND RELATED PAYMENTS	9 Months Ended
INCOME TAXES AND RELATED PAYMENTS	Sep. 30, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES AND RELATED PAYMENTS	INCOME TAXES AND RELATED PAYMENTS The Company is a publicly traded partnership and holds interest in Oaktree Capital I (a non-corporate entity that is not subject to U.S. federal corporate income tax). The Company files its tax returns as prescribed by the tax laws of the jurisdictions in which it operates. In the normal course of business, the Company is subject to examination by the relevant tax authorities. With limited exceptions, the Company is no longer subject to income tax audits by taxing authorities for periods before 2020. The Company believes that it has adequately provided for any reasonably foreseeable outcomes related to its tax examinations and that any settlements related thereto will not have a material adverse effect on the Company’s condensed consolidated financial statements; however, there can be no assurances as to the ultimate outcomes.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES In the normal course of business, Oaktree enters into contracts that contain certain representations, warranties and indemnifications. The Company’s exposure under these arrangements would involve future claims that have not yet been asserted. Inasmuch as no such claims currently exist or are expected to arise, the Company has not accrued any liability in connection with these indemnifications. Legal Actions Oaktree, its affiliates, investment professionals, and portfolio companies are routinely involved in litigation and other legal actions in the ordinary course of their business and investing activities. In addition, Oaktree is subject to the authority of a number of U.S. and non-U.S. regulators, including the SEC and the Financial Industry Regulatory Authority, and those authorities periodically conduct examinations of Oaktree and make other inquiries that may result in the commencement of regulatory proceedings against Oaktree and its personnel. Oaktree is currently not subject to any pending actions or regulatory proceedings that either individually or in the aggregate are expected to have a material impact on its condensed consolidated financial statements. Incentive Income In addition to the incentive income recognized by the Company, certain of its funds have amounts recorded as potentially allocable to the Company as its share of potential future incentive income, based on each fund’s net asset value. Inasmuch as this incentive income is contingent upon future investment activity and other factors, it is not recognized by the Company as revenue until it is probable that a significant reversal will not occur. Subsequent to the 2024 Restructuring, the Company no longer earns incentive income as a result of the deconsolidation of Oaktree Capital I. The Company’s proportionate share of incentive income earned by Oaktree Capital I is included as a component of investment income. As of December 31, 2023, the aggregate of such amounts recorded at the fund level in excess of incentive income recognized by the Company was $1.8 billion, for which related direct incentive income compensation expense was estimated to be $739.1 million. Commitments to Funds As of September 30, 2024, the Company had undrawn capital commitments of $112.5 million in its capacity as a limited partner in Opps XI and undrawn commitments of $712.5 million in its capacity as a limited partner in Opps XII (Opps XI and Opps XII as defined in note 14). As of December 31, 2023, the Company, generally in its capacity as general partner through Oaktree Capital I had undrawn capital commitments of $349.9 million including commitments to both unconsolidated and consolidated funds. Investment Commitments of the Consolidated Funds Certain of the consolidated funds are parties to credit arrangements that provide for the issuance of letters of credit and/or revolving loans, which may require the particular fund to extend loans to investee companies. The consolidated funds use the same investment criteria in making these commitments as they do for investments that are included in the condensed consolidated statements of financial condition. The unfunded liability associated with these credit arrangements is equal to the amount by which the contractual loan commitment exceeds the sum of funded debt and cash held in escrow, if any. As of September 30, 2024 and December 31, 2023, the consolidated funds had no potential aggregate commitments. A consolidated fund may agree to guarantee the repayment obligations of certain investee companies. As of September 30, 2024 and December 31, 2023, there were no guaranteed amounts under such arrangements. Certain consolidated funds are investment companies that are required to disclose financial support provided or contractually required to be provided to any of their portfolio companies. During the nine months ended September 30, 2024 and 2023, the consolidated funds did not provide any financial support to portfolio companies.

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS	9 Months Ended
RELATED-PARTY TRANSACTIONS	Sep. 30, 2024
Related Party Transactions [Abstract]
RELATED-PARTY TRANSACTIONS	RELATED-PARTY TRANSACTIONS The Company considers its executive officers, employees, if any, and unconsolidated Oaktree funds to be affiliates (as defined in the FASB ASC Master Glossary). Amounts due from and to affiliates are set forth below. The fair value of amounts due from and to affiliates is a Level III valuation and was valued based on a discounted cash-flow analysis. The carrying value of amounts due from and to affiliates approximated fair value due to their short-term nature or because their weighted average interest rate approximated the Company’s cost of debt. As of September 30, 2024 December 31, 2023 Due from affiliates: Loans to affiliates $ — $ 25,996 Incentive income due from unconsolidated funds and affiliates — 202,052 Payments made on behalf of unconsolidated entities 227 4,437 Total due from affiliates $ 227 $ 232,485 Due to affiliates: Loans from affiliates $ — $ 47,909 Amounts due to unconsolidated entities 200 14,850 Total due to affiliates $ 200 $ 62,759 Loans To/ From Affiliates Loans primarily consist of interest-bearing loans made to affiliates. On May 7, 2021, the Company, through its then-consolidated subsidiary Oaktree Capital I, entered into two revolving line of credit notes with OCM, one as a borrower and the other as a lender. Both revolving line of credit notes allowed for outstanding principal amounts not to exceed $250.0 million and matured on May 7, 2024. On February 17, 2023, the revolving line of credit notes were replaced with an intercompany loan agreement with a maturity of February 17, 2026. As of December 31, 2023, OCM had borrowed $26.0 million from the Company through Oaktree Capital I, which was included in due from affiliates, and generated $201.2 thousand of interest income for the three and nine months ended September 30, 2023. As of December 31, 2023, the Company through Oaktree Capital I has borrowed $48.0 million from OCM, which was included in due to affiliates, and incurred $136.7 thousand and $305.7 thousand of interest expense for the three and nine months ended September 30, 2023, respectively. Subsequent to the 2024 Restructuring, due to the deconsolidation of Oaktree Capital I, the balances on the intercompany loan and interest income will no longer be reflected as a related party transaction with the Company. Payments made on behalf of unconsolidated entities In the normal course of business, the Company advances certain expenses on behalf of Oaktree funds. Amounts advanced on behalf of consolidated funds are eliminated in consolidation. In addition, prior to the 2024 Restructuring, the Company recognized distributions and proceeds from corporate investments in Oaktree funds for which it serves as general partner, and other third-party managed funds and companies as receivables when certain criteria is met. Revenues Earned From Oaktree Funds Incentive income earned from unconsolidated funds totaled $0 and $117.5 million for the three and nine months ended September 30, 2024, respectively. Subsequent to the 2024 Restructuring, incentive income is no longer recognized by the Company due to the deconsolidation of Oaktree Capital I. The Company’s proportionate share of incentive income earned by Oaktree Capital I is included as a component of investment income. Incentive income earned from unconsolidated Oaktree funds totaled $2.1 million and $61.5 million for the three and nine months ended September 30, 2023, respectively. Special Allocations Certain executive officers of Oaktree receive special allocations based on a percentage of profits of the Oaktree Operating Group. These special allocations, which are recorded as compensation expense, are made on a current basis for so long as the executive officers remain senior executives of the Company, with limited exceptions. Administrative Services The Company is party to the Services Agreement with OCM. Pursuant to the Services Agreement, OCM provides administrative services to the Company necessary for the operations of the Company, which include providing office facilities, equipment, clerical, bookkeeping and record keeping services at such facilities and such other services as OCM, subject to review by the Company’s board of directors, shall from time to time deem to be necessary or useful to perform its obligations under the Services Agreement. OCM may, on behalf of the Company, conduct relations and negotiate agreements with custodians, trustees, depositories, attorneys, underwriters, brokers and dealers, corporate fiduciaries, insurers, banks and such other persons in any such other capacity deemed to be necessary or desirable. OCM is responsible for the financial and other records that the Company is required to maintain and prepares, prints and disseminates reports to the Company’s unitholders and all other materials filed with the SEC. In addition, OCM assists the Company in overseeing the preparation and filing of the Company’s tax returns, and generally overseeing the payment of the Company’s expenses and the performance of administrative and professional services rendered to the Company by others. On an annual basis the Company reimburses OCM $750,000 of the costs incurred for providing these administrative services. This reimbursement is payable quarterly, in equal installments, and relates to the Company’s allocable portion of overhead and other expenses (facilities and personnel) incurred by OCM in performing its obligations under the Services Agreement. This amount includes the Company’s allocable portion of (i) the rent of the Company’s principal executive offices (which are located in a building owned by a Brookfield affiliate) at market rates and (ii) the costs of compensation and related expenses of various personnel at Oaktree that perform duties for the Company. The Services Agreement may be terminated by either party without penalty upon 90 days’ written notice to the other. For the three and nine months ended September 30, 2024 and 2023, the Company incurred administrative services expense of $0.2 million and $0.6 million, respectively. Subordinated Credit Facility Oaktree Capital I, along with certain other Oaktree Operating Group members as co-borrowers, are parties to a credit agreement with a subsidiary of Brookfield that provides for a subordinated credit facility. The subordinated credit facility has a revolving loan commitment of $250 million and borrowings generally bear interest at a spread to either LIBOR or an alternative base rate. Borrowings on the subordinated credit facility are subordinate to the outstanding debt obligations and borrowings on the primary credit facility of Oaktree Capital I and its co-borrowers as detailed in note 8. Oaktree Capital I is jointly and severally liable, along with its co-obligors, for outstanding borrowings on the subordinated credit facility. As set forth in note 8, the Company’s financial statements have not reflected debt obligations, interest expense or related liabilities associated with Oaktree Capital I as Oaktree Capital I (while it was still a consolidated subsidiary of the Company) has not directly borrowed from the subordinated credit facility. In March 2022, this credit facility was amended to extend the revolving credit maturity date from May 19, 2023 to September 14, 2026. On October 6, 2023, an amendment was signed to further extend the maturity date to October 6, 2028, and change the interest rate to SOFR plus 1.6% or an alternative base rate plus 0.5%. The amendment also provided that the maturity date will automatically extend annually in one-year increments until the lenders notify the borrowers of their intention to terminate the subordinated credit facility. Subsequent to the 2024 Restructuring, due to the deconsolidation of Oaktree Capital I, the subordinated credit facility will no longer be reflected as a related party transaction with the Company. Investment in Oaktree Opportunities Fund XI The Company has subscribed for a limited partner interest in, and made a capital commitment of, $750.0 million to Oaktree Opportunities Fund XI, L.P., a parallel investment vehicle thereof or a feeder fund in respect of one of the foregoing (such limited partner interest, the “Opps XI Investment” and such fund entities collectively, “Opps XI”). In order to make the Opps XI Investment, the Company’s sole Class A unitholder, or one of its affiliates, will contribute cash as a capital contribution (the “Opps XI Investment Cash”) as and to the extent required to satisfy the Company’s obligations to Opps XI. The Company will use the Opps XI Investment Cash solely to fund the Opps XI Investment and satisfy its obligations in respect of Opps XI and distributions from the Opps XI Investment are intended solely for the benefit of the Class A unitholder, subject to applicable law. The Company’s preferred unitholders should not rely on distributions received by the Company in respect of the Company’s Opps XI Investment for payment of dividends or redemption of the preferred units. During the nine months ended September 30, 2024, the Company did not fund any of its capital commitment. As of September 30, 2024, the Company has funded in the aggregate $637.5 million of the $750.0 million capital commitment. Investment in Oaktree Opportunities Fund XII On May 22, 2023, the Company subscribed for a limited partner interest in, and made a capital commitment of, $750 million to Oaktree Opportunities Fund XII, L.P., a parallel investment vehicle thereof or a feeder fund in respect of one of the foregoing (such limited partner interest, the “Opps XII Investment” and such fund entities collectively, “Opps XII”). In order to make the Opps XII Investment, the Company’s sole Class A unitholder, or one of its affiliates, will contribute cash as a capital contribution (the “Opps XII Investment Cash”) as and to the extent required to satisfy the Company’s obligations to Opps XII. The Company will use the Opps XII Investment Cash solely to fund the Opps XII Investment and satisfy its obligations in respect of Opps XII and distributions from the Opps XII Investment are intended solely for the benefit of the Class A unitholder, subject to applicable law. The Company’s preferred unitholders should not rely on distributions received by the Company in respect of the Company’s Opps XII Investment for payment of distributions on or redemption of the preferred units. During the nine months ended September 30, 2024, the Company funded $37.5 million of its capital commitment. As of September 30, 2024, the Company has funded in the aggregate $37.5 million of the $750.0 million capital commitment. N on-Traded REIT On June 27, 2023, the Company entered into a contribution agreement (the “Treasury Contribution Agreement”) with Brookfield Corporate Treasury Ltd. (“Treasury”). Treasury holds all of the outstanding Class A units of the Company. Pursuant to the Treasury Contribution Agreement, Treasury agreed to contribute to the Company an amount (the “Contributed Amount”) equal to the value of BUSI II GP-C LLC, BUSI II-C L.P., BUSI II SLP-GP LLC and Brookfield REIT OP Special Limited Partner L.P. (collectively, and together with any additional entities that may become direct or indirect subsidiaries of NTR (as defined in Note 5) and that beneficially own shares of Brookfield REIT (as defined below), the “REIT Entities”), including their indirect ownership in Brookfield Real Estate Income Trust Inc., a Maryland corporation (“Brookfield REIT”), as of June 30, 2023, and the Company agreed to contribute the Contributed Amount to NTR, in connection with the Company’s indirect acquisition (the “Acquisition”) of 100% of the interests in the REIT Entities. An amount of $307.0 million in respect of the Contributed Amount was contributed to the Company on June 27, 2023 (the “Purchase Price”) and a true-up contribution of $13.9 million was made on July 31, 2023 (the “True-Up Payment”). Also on June 27, 2023, the Company entered into a contribution agreement (the “NTR Contribution Agreement”) with NTR whereby the Company contributed the Purchase Price to NTR and agreed to make a contribution in an amount equal to the True-Up Payment to NTR, and NTR agreed to use the Contributed Amount in connection with the Acquisition. On June 29, 2023, NTR entered into an agreement of purchase and sale (the “Agreement of Purchase and Sale”) to effect the Acquisition, whereby NTR acquired 100% of the interests in the REIT Entities from BUSI II NTR Sub LLC in exchange for cash. The Acquisition was completed on June 30, 2023. As of September 30, 2024, the carrying value of NTR included in corporate investments was $304.3 million. In connection with the Acquisition, on June 29, 2023, the Company entered into a letter agreement (the “Restructuring Letter Agreement”) with Treasury whereby, among other things, the Company agreed that, notwithstanding any provision of the operating agreement of the Company to the contrary, Treasury will have the right, in its sole and absolute discretion, to make up to $200.0 million of additional capital contributions to the Company to be utilized in connection with the Company’s indirect ownership of Brookfield REIT or any other matters with respect to the operations of NTR and the REIT Entities, and no vote, approval or other authorization will be required in connection with such additional capital contributions. Also on June 29, 2023, the Company entered into a letter agreement (the “Indemnification Letter Agreement”) with BP US REIT LLC (“BP US”) whereby, among other things, BP US agrees to defend, indemnify and hold harmless the Company, its members and the Company’s and such members’ respective officers, directors, employees, agents, successors, and assigns from any third-party claims brought against any of them related to the ownership, management or ongoing operating of the REIT Entities, and any subsidiaries thereof. SPV Credit Facility In March 2024, BOH transferred a portion of its indirect interest in Opps XI to newly formed special purpose subsidiary (“SPV I”) and pledged its ownership interest in SPV I as collateral for a non-recourse credit facility of an affiliate. In June 2024, BOH transferred an additional portion of its indirect interest in Opps XI to a newly formed special purpose subsidiary (“SPV II”) and pledged its ownership interest in SPV II as collateral for a second non-recourse credit facility of the affiliate. While the outstanding borrowings on the facilities are the obligations of the affiliate, the co-borrowers, including SPV I and SPV II, have joint and several liability under the credit facilities in the event of default and are required to comply with certain covenants. As of September 30, 2024, BOH’s potential exposure under these arrangements is limited to the carrying value of its pledged interests in SPV I and SPV II of $149.7 million and $256.3 million, respectively. Effect of the 2024 Restructuring As a result of the 2024 Restructuring, the Company no longer consolidates Oaktree Capital I. The Company will continue to disclose the Services Agreement between BOH and OCM, and Brookfield’s investments in Oaktree Opportunities Fund XI, L.P. and Oaktree Opportunities Fund XII, L.P. and investment in Brookfield REIT.

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
SEGMENT REPORTING	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTINGManagement uses a consolidated approach to assess performance and allocate resources. As such, the Company’s business operates as a single operating segment.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Class A Unit Distribution A distribution of $0.79 per Class A unit was paid on November 8, 2024 to holders of record at the close of business on November 1, 2024. Preferred Unit Distributions A distribution of $0.414063 per Series A preferred unit will be paid on December 16, 2024 to Series A preferred unitholders of record at the close of business on December 1, 2024. A distribution of $0.409375 per Series B preferred unit will be paid on December 16, 2024 to Series B preferred unitholders of record at the close of business on December 1, 2024.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information. The condensed consolidated financial statements, including these notes, are unaudited and exclude some of the disclosures required in annual financial statements. Management believes it has made all necessary adjustments (consisting of only normal recurring items) such that the condensed consolidated financial statements are presented fairly and that estimates made in preparing its condensed consolidated financial statements are reasonable and prudent. The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. The condensed consolidated financial statements include the accounts of the Company, its wholly-owned or majority-owned subsidiaries and entities in which the Company is deemed to have a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. Certain of the Oaktree funds consolidated by the Company are investment companies that follow a specialized basis of accounting established by GAAP. All intercompany transactions and balances have been eliminated in consolidation. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the year ended December 31, 2023 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 21, 2024.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in accordance with GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the condensed consolidated financial statements, as well as the reported amounts of income and expenses during the period then ended. Actual results could differ from these estimates.
Consolidation and Accounting Policies of Consolidated Funds	Consolidation The Company consolidates entities in which it has a direct or indirect controlling financial interest based on either a variable interest model or voting interest model. A limited partnership or similar entity is a variable interest entity (“VIE”) if the unaffiliated limited partners do not have substantive kick-out or participating rights. Most of the Oaktree funds are VIEs because they have not granted unaffiliated limited partners substantive kick-out or participating rights. The Company consolidates those VIEs in which it is the primary beneficiary. An entity is deemed to be the primary beneficiary if it holds a controlling financial interest. A controlling financial interest is defined as (a) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance and (b) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. The consolidation guidance requires an analysis to determine (a) whether an entity in which the Company holds a variable interest is a VIE and (b) whether the Company’s involvement, through holding interests directly or indirectly in the entity or contractually through other variable interests (e.g., management and performance-based fees), would give it a controlling financial interest. A decision maker’s fee arrangement is not considered a variable interest if (a) it is compensation for services provided, commensurate with the level of effort required to provide those services, and part of a compensation arrangement that includes only terms, conditions or amounts that are customarily present in arrangements for similar services negotiated at arm’s length (“at-market”), and (b) the decision maker does not hold any other variable interests that absorb more than an insignificant amount of the potential VIE’s expected residual returns. The Company determines whether it is the primary beneficiary of a VIE at the time it becomes involved with a VIE and reconsiders that conclusion at each reporting date. In evaluating whether the Company is the primary beneficiary, the Company evaluates its economic interests in the entity held either directly by the Company or indirectly through related parties. In situations where power over an entity’s most significant activities is shared among related parties, a qualitative analysis is required to determine which party within the related party group is most closely associated with the VIE. The party within the related party group that is most closely associated with the VIE is the primary beneficiary and is required to consolidate and disclose the impact of the VIE. The consolidation analysis can generally be performed qualitatively; however, if it is not readily apparent that the Company is not the primary beneficiary, a quantitative analysis may also be performed. Investments and redemptions (either by the Company, affiliates of the Company or third parties) or amendments to the governing documents of the respective Oaktree funds could affect an entity’s status as a VIE or the determination of the primary beneficiary. The Company does not consolidate most of the Oaktree funds because it is not the primary beneficiary of those funds due to the fact that its fee arrangements are considered at-market and thus not deemed to be variable interests, and it does not hold any other interests in those funds that are considered to be more than insignificant. Please see note 4 for more information regarding both consolidated and unconsolidated VIEs. For entities that are not VIEs, consolidation is evaluated through a majority voting interest model. “Consolidated funds” historically refers to Oaktree-managed funds and CLOs that the Company is required to consolidate. When funds or CLOs are consolidated, the Company reflects the assets, liabilities, revenues, expenses and cash flows of the funds or CLOs on a gross basis, and the majority of the economic interests in those funds or CLOs, which are held by third-party investors, are reflected as non-controlling interests in consolidated funds or debt obligations of CLOs in the condensed consolidated financial statements. All of the revenues earned by the Company as investment manager of the consolidated funds are eliminated in consolidation. However, because the eliminated amounts are earned from and funded by third-party investors, the consolidation of a fund does not impact net income or loss attributable to the Company. As a result of the 2024 Restructuring, effected to facilitate the change of the general partner of Oaktree Capital I, the Company no longer controls Oaktree Capital I. Therefore, Oaktree Capital I was deconsolidated as of July 1, 2024. As such, certain Oaktree funds and CLOs which were consolidated by Oaktree Capital I are no longer consolidated by the Company. The Company continues to consolidate the respective vehicles through which interests are held in Oaktree Opportunities Fund XI, L.P. and Oaktree Opportunities Fund XII, L.P. as the Company remains the primary beneficiary. The impact of deconsolidation on the balance sheet is summarized in note 4. Certain entities in which the Company is deemed to have significant influence, including Oaktree Capital I and unconsolidated Oaktree funds in which Oaktree Capital I holds a general partner interest, are accounted for under the equity method of accounting.
Non-controlling Redeemable Interests in Consolidated Funds	Non-controlling Redeemable Interests in Consolidated Funds The Company records non-controlling interests to reflect the economic interests of the unaffiliated limited partners in Oaktree-managed funds and the class A ordinary shareholders in Oaktree sponsored SPACs. These interests are presented as non-controlling redeemable interests in consolidated funds within the condensed consolidated statements of financial condition, outside of the permanent capital section. Limited partners in open-end and evergreen funds generally have the right to withdraw their capital, subject to the terms of the respective limited partnership agreements, over periods ranging from one month to three years. While limited partners in consolidated closed-end funds generally have not been granted redemption rights, these limited partners do have withdrawal or redemption rights in certain limited circumstances that are beyond the control of the Company, such as instances in which retaining the limited partnership interest could cause the limited partner to violate a law, regulation or rule. For Oaktree sponsored SPACs, the class A ordinary shareholders have redemption rights that are considered to be outside of the Company’s control. These shares are presented as non-controlling redeemable interests on the Company’s condensed consolidated statements of financial condition. The allocation of net income or loss to non-controlling redeemable interests in consolidated funds and Oaktree sponsored SPACs is based on the relative ownership interests of the unaffiliated limited partners after the consideration of contractual arrangements that govern allocations of income or loss. At the consolidated level, potential incentives are allocated to non-controlling redeemable interests in consolidated funds until such incentives become allocable to the Company under the substantive contractual terms of the limited partnership agreements of the funds. As a result of the 2024 Restructuring, Oaktree Capital I was deconsolidated as of July 1, 2024. As such, the funds consolidated by Oaktree Capital I are no longer consolidated by the Company.
Non-controlling Interests in Consolidated Subsidiaries	Non-controlling Interests in Consolidated Subsidiaries Non-controlling interests in consolidated subsidiaries reflect the portion of unitholders’ capital attributable to OCGH unitholders (“OCGH non-controlling interest”) and third parties. All non-controlling interests in consolidated subsidiaries are attributed a share of income or loss in the respective consolidated subsidiary based on the relative economic interests of the OCGH unitholders or third parties after consideration of contractual arrangements that govern allocations of income or loss. As a result of the 2024 Restructuring, Oaktree Capital I was deconsolidated as of July 1, 2024. BOH no longer reports OCGH non-controlling interests in Oaktree Capital I.
Fair Value of Financial Instruments and Fair Value Option	Fair Value of Financial Instruments GAAP establishes a hierarchical disclosure framework that prioritizes the inputs used in measuring financial instruments at fair value into three levels based on their market observability. Market price observability is affected by a number of factors, such as the type of instrument and the characteristics specific to the instrument. Financial instruments with readily available quoted prices from an active market or for which fair value can be measured based on actively quoted prices generally will have a higher degree of market price observability and a lesser degree of judgment inherent in measuring fair value. Financial assets and liabilities measured and reported at fair value are classified as follows: • Level I – Quoted unadjusted prices for identical instruments in active markets to which the Company has access at the date of measurement. The types of investments in Level I include exchange-traded equities, debt and derivatives with quoted prices. • Level II – Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs are directly or indirectly observable. Level II inputs include interest rates, yield curves, volatilities, prepayment risks, loss severities, credit risks and default rates. The types of investments in Level II generally include corporate bonds and loans, government and agency securities, less liquid and restricted equity investments, over-the-counter traded derivatives, debt obligations of consolidated CLOs, and other investments where the fair value is based on observable inputs. • Level III – Valuations for which one or more significant inputs are unobservable. These inputs reflect the Company’s assessment of the assumptions that market participants use to value the investment based on the best available information. Level III inputs include prices of quoted securities in markets for which there are few transactions, less public information exists or prices vary among brokered market makers. The types of investments in Level III include non-publicly traded equity, debt, real estate and derivatives. In some instances, the inputs used to value an instrument may fall into multiple levels of the fair-value hierarchy. In such instances, the instrument’s level within the fair-value hierarchy is based on the lowest of the three levels (with Level III being the lowest) that is significant to the fair-value measurement. The Company’s assessment of the significance of an input require s judgment and considers factors specific to the instrument. Transfers of assets into or out of each fair value hierarchy level as a result of changes in the observability of the inputs used in measuring fair value are accounted for as of the beginning of the reporting period. Transfers resulting from a specific event, such as a reorganization or restructuring, ar e accounted for as of the date of the event that caused the transfer. In the absence of observable market prices, the Company values Level III investments inclusive of the Company’s investments in unconsolidated Oaktree funds using valuation methodologies applied on a consistent basis. The quarterly valuation process for Level III investments begins with each portfolio company, property or security being valued by the investment and/or valuation teams. With the exception of open-end funds, all unquoted Level III investment values are reviewed and approved by (i) the Company’s valuation officer, who is independent of the investment teams, (ii) a designated investment professional of each strategy and (iii) for a substantial majority of unquoted Level III holdings as measured by market value, a valuation committee of the respective strategy. For open-end funds, unquoted Level III investment values are reviewed and approved by the Company’s valuation officer. For certain investments, the valuation process also includes a review by independent valuation parties, at least annually, to determine whether the fair values determined by management are reasonable. Results of the valuation process are evaluated each quarter, including an assessment of whether the underlying calculations should be adjusted or recalibrated. In connection with this process, the Company periodically evaluates changes in fair-value measurements for reasonableness, considering items such as industry trends, general economic and market conditions, and factors specific to the investment. Certain assets are valued using prices obtained from pricing vendors or brokers. The Company seeks to obtain prices from at least two pricing vendors for the subject or similar securities. In cases where vendor pricing is not reflective of fair value, a secondary vendor is unavailable, or no vendor pricing is available, a comparison value made up of quotes for the subject or similar securities received from broker dealers may be used. These investments may be 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. The Company evaluates the prices obtained from brokers or pricing vendors based on available market information, including trading activity of the subject or similar securities, or by performing a comparable security analysis to ensure that fair values are reasonably estimated. The Company also performs back-testing of valuation information obtained from pricing vendors and brokers against actual prices received in transactions. In addition to ongoing monitoring and back-testing, the Company performs due diligence procedures surrounding pricing vendors to understand their methodology and controls to support their use in the valuation process. Fair Value Option The Company has elected the fair value option for the financial assets and financial liabilities of its consolidated CLOs. The assets and liabilities of CLOs are primarily reflected within the investments, at fair value and within the debt obligations of CLOs line items in the condensed consolidated statements of financial condition. The Company’s accounting for CLO assets is similar to its accounting for its funds with respect to both carrying investments held by CLOs at fair value and the valuation methods used to determine the fair value of those investments. The fair value of CLO liabilities are measured as the fair value of CLO assets less the sum of (a) the fair value of any beneficial interests held by the Company and (b) the carrying value of any beneficial interests that represent compensation for services. Realized gains or losses and changes in the fair value of CLO assets, respectively, are included in net realized gain on consolidated funds’ investments and net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the condensed consolidated statements of operations. Interest income of CLOs is included in interest and dividend income, and interest expense and other expenses, respectively, are included in interest expense and consolidated fund expenses in the condensed consolidated statements of operations. Changes in the fair value of a CLO’s financial liabilities in accordance with the CLO measurement guidance are included in net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the condensed consolidated statements of operations. Please see notes 6 and 8 for more information. Subsequent to the 2024 Restructuring, the Company no longer consolidates the CLOs due to the deconsolidation of Oaktree Capital I. Changes in the fair value of the CLOs’ financial liabilities will no longer be included in the condensed consolidated statements of operations for periods subsequent to July 1, 2024.
Derivatives and Hedging	Derivatives and Hedging A derivative is a financial instrument whose value is derived from an underlying financial instrument or index, such as interest rates, equity securities, currencies, commodities or credit spreads. Derivatives include futures, forwards, swaps or option contracts, and other financial instruments with similar characteristics. Derivative contracts often involve future commitments to exchange interest payment streams or currencies based on a notional or contractual amount (e.g., interest-rate swaps, foreign-currency forwards or cross-currency swaps). The Company enters into derivatives as part of its overall risk management strategy or to facilitate its investment management activities. The Company manages its exposure to interest rate and foreign exchange market risks, when deemed appropriate, through the use of derivatives, including foreign currency forward and option contracts, interest-rate and cross currency swaps with financial counterparties. Risks associated with fluctuations in interest rates and foreign-currency exchange rates in the normal course of business are addressed as part of the Company’s overall risk management strategy that may result in the use of derivatives to economically hedge or reduce these exposures. From time to time, the Company may enter into (a) foreign-currency option and forward contracts to reduce earnings and cash-flow volatility associated with changes in foreign-currency exchange rates, and (b) interest-rate swaps to manage all or a portion of the interest-rate risk associated with its variable-rate borrowings. As a result of the use of these or other derivative contracts, the Company is exposed to the risk that counterparties will fail to fulfill their contractual obligations. The Company attempts to mitigate this counterparty risk by entering into derivative contracts only with major financial institutions that have investment-grade credit ratings. Counterparty credit risk is evaluated in determining the fair value of derivatives. The Company recognizes all derivatives as assets or liabilities in its condensed consolidated statements of financial condition at fair value. In connection with its derivative activities, the Company generally enters into agreements subject to enforceable master netting arrangements that allow the Company to offset derivative assets and liabilities in the same currency by specific derivative type or, in the event of default by the counterparty, to offset derivative assets and liabilities with the same counterparty. While these derivatives are eligible to be offset in accordance with applicable accounting guidance, the Company has elected to present derivative assets and liabilities based on gross fair value in its condensed consolidated statements of financial condition. When the Company enters into a derivative contract, it may or may not elect to designate the derivative as a hedging instrument and apply hedge accounting as part of its overall risk management strategy. In other situations, when a derivative does not qualify for hedge accounting or when the derivative and the hedged item are both recorded in current-period earnings and thus deemed to be economic hedges, hedge accounting is not applied. Freestanding derivatives are financial instruments that we enter into as part of our overall risk management strategy but do not utilize hedge accounting. These financial instruments may include foreign-currency exchange contracts, interest-rate swaps and other derivative contracts. Subsequent to the 2024 Restructuring and deconsolidation of Oaktree Capital I, the Company no longer records activity related to derivative and hedging activity.
Cash and Cash-equivalents	Cash and Cash-equivalents Cash and cash-equivalents include demand deposit accounts, money market funds, and other short-term investments with maturities of three months or less at the date of acquisition. Cash and Cash-equivalents Cash and cash-equivalents held at the consolidated funds represent cash that, although not legally restricted, is not available to support the general liquidity needs of the Company as the use of such amounts is generally limited to the investment activities of the consolidated funds. Cash-equivalents, a Level I valuation, include highly liquid investments such as money market funds, whose carrying value approximates fair value due to its short-term nature.
U.S. Treasury and Other Securities	U.S. Treasury and Other Securities U.S. Treasury and other securities include holdings of U.S. Treasury bills, time deposit securities, notes and bonds, commercial paper, and investment grade debt securities that are issued or guaranteed by U.S. government-sponsored entities, sovereign debt, domestic and international corporate fixed and floating rate debt, and structured credit with maturities greater than three months from the date of acquisition. These securities are classified as trading and are recorded at fair value with changes in fair value included in investment income. The interest income earned on the deposit is included in the interest and dividend income. Subsequent to the 2024 Restructuring, due to the deconsolidation of Oaktree Capital I, the Company no longer consolidates the U.S. Treasury and other securities held by Oaktree Capital I.
Corporate Investments	Corporate Investments Corporate investments have historically consisted of investments in funds, companies in which the Company does not have a controlling financial interest, equities received as part of our sponsorship of SPACs, and non-investment grade debt securities. Prior to the 2024 Restructuring, these investments largely represented investments held by Oaktree Capital I. As a result of the 2024 Restructuring, the Company no longer consolidates Oaktree Capital I and instead, it accounts for it’s interest in Oaktree Capital I under the equity method of accounting. The carrying value of BOH’s investment in Oaktree Capital I is reflected in Corporate i nvestments. Additionally, Corporate investments also includes Brookfield’s indirect ownership in Brookfield REIT. Investments for which the Company is deemed to have significant influence are accounted for under the equity method of accounting and have historically reflected the Company’s ownership interest in each fund or company. In the case of investments for which the Company is not deemed to have significant influence or control, the fair value option of accounting has been elected. Oaktree Capital I’s underlying general partnership interests are substantially illiquid. While Oaktree Capital I’s investments in funds reflect each respective fund’s holdings at fair value, equity-method investments in companies are not adjusted to reflect the fair value of the underlying company. The fair value of the underlying investments in Oaktree funds is based on the Company’s assessment, which takes into account expected cash flows, earnings multiples and/or comparisons to similar market transactions, among other factors. Valuation adjustments reflecting consideration of credit quality, concentration risk, sales restrictions and other liquidity factors are integral to valuing these instruments. Non-investment grade debt securities include domestic and international corporate fixed and floating rate debt and structured credit investments. These securities are classified as trading and are recorded at fair value with changes in fair value included in investment income.
Revenue Recognition and Incentive Income and Investment Income	Revenue Recognition Incentive Income Prior to the 2024 Restructuring, the Company earned incentive income from the investment advisory services provided to its customers by Oaktree Capital I. Revenue was recognized when control of the promised services was transferred to customers in an amount that reflects the consideration the Company expects to receive in exchange for those services. These services are generally capable of being distinct and each is accounted for as separate performance obligations comprised of distinct service periods because the services are performed over time. Incentive income generally represents 20% of each closed-end fund’s profits, subject to the return of contributed capital and a preferred return of typically 8% per annum, and up to 20% of certain evergreen fund’s annual profits, subject to high-water marks or hurdle rates. Incentive income is recognized when it is probable that a significant reversal will not occur. Revenue recognition is typically met (a) for closed-end funds, only after all contributed capital and the preferred return on that capital have been distributed to the fund’s investors, and (b) for certain evergreen funds, at the conclusion of each annual measurement period. Potential incentive income is highly susceptible to market volatility, the judgment and actions of third parties, and other factors outside of the Company’s control. The Company’s experience has demonstrated little predictive value in the amount of potential incentive income ultimately earned due to the highly uncertain nature of returns inherent in the markets and contingencies associated with many realization events. As a result, the amount of incentive income recognized in any given period is generally determined after giving consideration to a number of factors, including whether the fund is in its investment or liquidation period, and the nature and level of risk associated with changes in fair value of the remaining assets in the fund. In general, it would be unlikely that any amount of potential incentive income would be recognized until (a) the uncertainty is resolved or (b) the fund is near final liquidation, assets are under contract for sale or are at low risk of significant fluctuation in fair value, and the assets are significantly in excess of the threshold at which incentive income would be earned. Incentives received by Oaktree Capital I before the revenue recognition criteria have been met are deferred and recorded as a deferred incentive income liability within accounts payable, accrued expenses and other liabilities in the condensed consolidated statements of financial condition. Oaktree Capital I may have received tax distributions related to taxable income allocated by funds, which are treated as an advance of incentive income and subject to the same recognition criteria. Tax distributions are contractually not subject to clawback. Oaktree Capital I may have earned incentive income upon deconsolidation of a SPAC arising from the completion of a merger with an identified target. Upon deconsolidation, Oaktree Capital I derecognizes the net assets of the entity and records any gain or loss related to the remeasurement of its investments to fair value as incentive income in its condensed consolidated statements of operations. Subsequent fair value changes in Oaktree Capital I’s investments held in the entity were recorded in investment income in its condensed consolidated statements of operations. Subsequent to the 2024 Restructuring, the Company no longer earns incentive income as a result of the deconsolidation of Oaktree Capital I. Rather the economics resulting from Oaktree Capital I’s right to earn incentive income are reflected in the Company’s results through investment income earned from its equity method investment in Oaktree Capital I. Investment Income The Company records investment income (loss) from its equity method investments which represents the Company’s pro-rata share of income or loss from these investments, or the change in fair value of the investment, as applicable, and consists of both unrealized and realized gains and losses. Investment income (loss) is realized when the Company sells all or a portion of its investments or when the Company receives or is due cash income. Unrealized investment income (loss) results from the proportionate share of the investments’ unrealized earnings, including changes in the fair value of the underlying investments. The cash distributions from the Company’s equity investments are classified based the nature of the underlying transaction which resulted in the distribution. Cash distributions that are determined to be realized gains (losses) are included in Cash Flows from Operating Activities and distributions that are returns of capital are included in the Cash Flows from Investing Activities section of the Consolidated Statements of Cash Flows.
Compensation and Benefits	Compensation and Benefits Compensation and benefits has historically reflected incentive income compensation expense, which primarily reflected compensation directly related to incentive income, which generally consists of percentage interests (sometimes referred to as “points” or an allocation of shares received upon the completion of a successful SPAC merger) that the Company grants to its investment professionals associated with the particular fund or SPAC that generated the incentive income, and secondarily, compensation directly related to investment income. The Company has an obligation to pay a fixed percentage of the incentive income earned from a particular fund or SPAC, including income from consolidated funds that is eliminated in consolidation, to specified investment professionals responsible for the management of the fund or SPAC. Amounts payable pursuant to these arrangements are recorded as compensation expense when they have become probable and reasonably estimable. The Company’s determination of the point at which it becomes probable and reasonably estimable that incentive income compensation expense should be recorded is based on its assessment of numerous factors, particularly those related to the profitability, realizations, distribution status, investment profile and commitments or contingencies of the individual funds that may give rise to incentive income or the completion of a merger by an Oaktree sponsored SPAC. Incentive income compensation is generally expensed in the period in which the underlying income is recognized. Payment of incentive income compensation generally occurs in the same period the related income is received or in the next period. Participation in incentive income generated by the funds or SPACs is subject to forfeiture upon departure and to vesting provisions (generally over a period of five years), in each case, under certain circumstances set forth in the applicable governing documents. These provisions are generally only applicable to incentive income compensation that has not yet been recognized as an expense by the Company or paid to the participant. Subsequent to the 2024 Restructuring, the Company no longer earns incentive income as a result of the deconsolidation of Oaktree Capital I, and therefore will no longer record incentive compensation expense. Compensation and benefits following the 2024 Restructuring primarily reflects compensation to the Company’s board of directors.
Income Taxes	Income Taxes The Company is a publicly traded partnership. Because it satisfies the qualifying income test, it is not required to be treated as a corporation for U.S. federal and state income tax purposes; rather it is taxed as a partnership. The Company analyzes its tax filing positions for all open tax years in all of the U.S. federal, state and local tax jurisdictions where it is required to file income tax returns. If the Company determines that uncertainties in tax positions exist, a reserve is established. The Company recognizes accrued interest and penalties related to uncertain tax positions within income tax expense in the condensed consolidated statements of operations. Tax laws are complex and subject to different interpretations by the taxpayer and respective governmental taxing authorities. Significant judgment is required in determining tax expense and in evaluating tax positions, including evaluating uncertainties. The Company reviews its tax positions quarterly and adjusts its tax balances as new information becomes available. The Oaktree funds are generally not subject to U.S. federal and state income taxes and, consequently, no income tax provision has been made in the accompanying condensed consolidated financial statements because individual partners are responsible for their proportionate share of the taxable income. Income Taxes The consolidated funds may invest in operating entities that are treated as partnerships for U.S. federal income tax purposes which may give rise to unrelated business taxable income or income effectively connected with a U.S. trade or business. In such situations, the consolidated funds permit certain investors to elect to participate in these investments through a “blocker structure” using entities that are treated as corporations for U.S. federal income tax purposes and are generally subject to U.S. federal, state and local taxes. The consolidated funds withhold blocker expenses and tax payments from electing limited partners, which are treated as deemed distributions to such limited partners pursuant to the terms of the respective limited partnership agreement.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) consists of net income (loss) and other gains and losses affecting unitholders’ capital that are excluded from net income (loss). Other gains and losses result from foreign-currency translation adjustments, net of tax. Following the 2024 Restructuring and the deconsolidation of Oaktree Capital I, the Company is generally not subject to direct foreign-currency translation adjustments.
Investment Transactions and Income Recognition	Investment Transactions and Income Recognition The consolidated funds record investment transactions at cost on trade date for publicly-traded securities or when they have an enforceable right to acquire the security, which is generally on the closing date if not publicly traded. Realized gains and losses on investments are recorded on a specific-identification basis. The consolidated funds record dividend income on the ex-dividend date and interest income on an accrual basis, unless the related investment is in default or if collection of the income is otherwise considered doubtful. The consolidated funds may hold investments that provide for interest payable in-kind rather than in cash, in which case the related income is recorded at its estimated net realizable amount.
Foreign Currency	Foreign Currency Investments denominated in non-U.S. currencies are recorded in the condensed consolidated financial statements after translation into U.S. dollars utilizing rates of exchange on the last business day of the period. Interest and dividend income is recorded net of foreign withholding taxes and calculated using the exchange rate in effect when the income is recognized. The effect of changes in exchange rates on assets and liabilities, income, and realized gains or losses is included as part of net realized gain (loss) on consolidated funds’ investments and net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the condensed consolidated statements of operations.
Receivable for Investments Sold	Receivable for Investments Sold Receivables for investments sold by the consolidated funds are recorded at net realizable value. Changes in net realizable value are reflected within net change in unrealized appreciation (depreciation) on consolidated funds’ investments and realizations are reflected within net realized gain on consolidated funds’ investments in the condensed consolidated statements of operations.
Investments, at Fair Value	Investments, at Fair Value The consolidated funds include investment limited partnerships and CLOs that reflect their investments, including majority-owned and controlled investments, at fair value. The Company has retained the specialized investment company accounting guidance for investment limited partnerships with respect to consolidated investments and has elected the fair value option for the financial assets of CLOs. Thus, the consolidated investments are reflected in the condensed consolidated statements of financial condition at fair value, with unrealized gains and losses resulting from changes in fair value reflected as a component of net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the condensed consolidated statements of operations. Fair value is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). Non-publicly traded debt and equity securities and other securities or instruments for which reliable market quotations are not available are valued by management using valuation methodologies applied on a consistent basis. These securities may initially be valued at the acquisition price as the best indicator of fair value. The Company reviews the significant unobservable inputs, valuations of comparable investments and other similar transactions for investments valued at acquisition price to determine whether another valuation methodology should be utilized. Subsequent valuations will depend on the facts and circumstances known as of the valuation date and the application of valuation methodologies as further described below under “—Non-publicly Traded Equity and Real Estate Investments.” The fair value may also be based on a pending transaction expected to close after the valuation date. Exchange-traded Investments Securities listed on one or more national securities exchanges are valued at their last reported sales price on the date of valuation. If no sale occurred on the valuation date, the security is valued at the mean of the last “bid” and “ask” prices on the valuation date. Securities that are not readily marketable due to legal restrictions that may limit or restrict transferability are generally valued at a discount from quoted market prices. The discount would reflect the amount market participants would require due to the risk relating to the inability to access a public market for the security for the specified period and would vary depending on the nature and duration of the restriction and the perceived risk and volatility of the underlying securities. Securities with longer duration restrictions or higher volatility are generally valued at a higher discount. Such discounts are generally estimated based on put option models or an analysis of market studies. Instances where the Company has applied discounts to quoted prices of restricted listed securities have been infrequent. The impact of such discounts is not material to the Company’s condensed consolidated statements of financial condition and results of operations for all periods presented. Credit-oriented Investments (including Real Estate Loan Portfolios) Investments in corporate and government debt which are not listed or admitted to trading on any securities exchange are valued at the mean of the last bid and ask prices on the valuation date based on quotations supplied by recognized quotation services or by reputable broker-dealers. The market-yield approach is considered in the valuation of non-publicly traded debt securities, utilizing expected future cash flows and discounted using estimated current market rates. Discounted cash-flow calculations may be adjusted to reflect current market conditions and/or the perceived credit risk of the borrower. Consideration is also given to a borrower’s ability to meet principal and interest obligations; this may include an evaluation of collateral and/or the underlying value of the borrower utilizing techniques described below under “—Non-publicly Traded Equity and Real Estate Investments.” Non-publicly Traded Equity and Real Estate Investments The fair value of equity and real estate investments is determined using a cost, market or income approach. The cost approach is based on the current cost of reproducing a real estate investment less deterioration and functional and economic obsolescence. The market approach utilizes valuations of comparable public companies and transactions, and generally seeks to establish the enterprise value of the portfolio company or investment property using a market-multiple methodology. This approach takes into account the financial measure (such as EBITDA, adjusted EBITDA, free cash flow, net operating income, net income, book value or net asset value) believed to be most relevant for the given company or investment property. Consideration also may be given to factors such as acquisition price of the security or investment property, historical and projected operational and financial results for the portfolio company, the strengths and weaknesses of the portfolio company or investment property relative to its comparable companies or properties, industry trends, general economic and market conditions, and others deemed relevant. The income approach is typically a discounted cash-flow method that incorporates expected timing and level of cash flows. It incorporates assumptions in determining growth rates, income and expense projections, discount and capitalization rates, capital structure, terminal values, and other factors. The applicability and weight assigned to market and income approaches are determined based on the availability of reliable projections and comparable companies and transactions. The valuation of securities may be impacted by expectations of investors’ receptiveness to a public offering of the securities, the size of the holding of the securities and any associated control, information with respect to transactions or offers for the securities (including the transaction pursuant to which the investment was made and the elapsed time from the date of the investment to the valuation date), and applicable restrictions on the transferability of the securities. These valuation methodologies involve a significant degree of management judgment. Accordingly, valuations by the Company do not necessarily represent the amounts that eventually may be realized from sales or other dispositions of investments. Fair values may differ from the values that would have been used had a ready market for the investment existed, and the differences could be material to the condensed consolidated financial statements.
Securities Sold Short	Securities Sold Short Securities sold short represent obligations of the consolidated funds to make a future delivery of a specific security and, correspondingly, create an obligation to purchase the security at prevailing market prices (or deliver the security, if owned by the consolidated funds) as of the delivery date. As a result, these short sales create the risk that the funds’ obligations to satisfy the delivery requirement may exceed the amount recorded in the accompanying condensed consolidated statements of financial condition. Securities sold short are recorded at fair value, with the resulting change in value reflected as a component of net change in unrealized appreciation (depreciation) on consolidated funds’ investments in the condensed consolidated statements of operations. When the securities are delivered, any gain or loss is included in net realized gain on consolidated funds’ investments. The funds maintain cash deposits with prime brokers in order to cover their obligations on short sales. These amounts are included in due from brokers in the condensed consolidated statements of financial condition.
Options	Options The purchase price of a call option or a put option is recorded as an investment, which is carried at fair value. If a purchased option expires, a loss in the amount of the cost of the option is realized. When there is a closing sale transaction, a gain or loss is realized if the proceeds are greater or less than, respectively, the cost of the option. When a call option is exercised, the cost of the security purchased upon exercise is increased by the premium originally paid. When a consolidated fund writes an option, the premium received is recorded as a liability and is subsequently adjusted to the current fair value of the option written. If a written option expires, a gain is realized in the amount of the premium received. The difference between the premium and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also treated as a realized gain or loss. The writer of an option bears the market risk of an unfavorable change in the price of the security underlying the written option. Options written are included in accounts payable, accrued expenses and other liabilities in the condensed consolidated statements of financial condition.
Total-return Swaps	Total-return Swaps A total-return swap is an agreement to exchange cash flows based on an underlying asset. Pursuant to these agreements, a fund may deposit collateral with the counterparty and may pay a swap fee equal to a fixed percentage of the value of the underlying security (notional amount). A fund earns interest on cash collateral held on account with the counterparty and may be required to deposit additional collateral equal to the unrealized appreciation or depreciation on the underlying asset. Changes in the value of the swaps, which are recorded as unrealized gains or losses, are based on changes in the underlying value of the security. All amounts exchanged with the swap counterparty representing capital appreciation or depreciation, dividend income and expense, items of interest income on short proceeds, borrowing costs on short sales, and commissions are recorded as realized gains or losses. Dividend income and expense on the underlying assets are accrued as unrealized gains or losses on the ex-date.
Due From Brokers	Due From Brokers Due from brokers represents cash owned by the consolidated funds and cash collateral on deposit with brokers and counterparties that are used as collateral for the consolidated funds’ securities and swaps.
Risks and Uncertainties	Risks and Uncertainties Certain consolidated funds invest primarily in the securities of entities that are undergoing, or are considered likely to undergo, reorganization, de bt restructuring, l iquidation or other extraordinary transactions. Investments in such entities are considered speculative and involve substantial risk of principal loss. Certain of the consolidated funds’ investments may also consist of securities that are thinly traded, securities and other assets for which no market exists, and securities which are restricted as to their transferability. Additionally, investments are subject to concentration and industry risks, reflecting numerous factors, including political, regulatory or economic issues that could cause the investments and their markets to be relatively illiquid and their prices relatively volatile. Investments denominated in non-U.S. currencies or involving non-U.S. domiciled entities are subject to risks and special considerations not typically associated with U.S. investments. Such risks may include, but are not limited to, investment and repatriation restrictions; currency exchange-rate fluctuations; adverse political, social and economic developments; less liquidity; smaller capital markets; and certain local tax law considerations. Credit risk is the potential loss that may be incurred from the failure of a counterparty or an issuer to make payments according to the terms of a contract. Some consolidated funds are subject to additional credit risk due to strategies of investing in debt of financially distressed issuers or derivatives, as well as involvement in privately-negotiated structured notes and structured-credit transactions. Counterparties include custodian banks, major brokerage houses and their affiliates. The Company monitors the creditworthiness of the financial institutions with which it conducts business. Bank debt has exposure to certain types of risk, including interest rate, market, and the potential non-payment of principal and interest as a result of default or bankruptcy of the issuer. Loans are generally subject to prepayment risk, which will affect the maturity of such loans. The consolidated funds may enter into bank debt participation agreements through contractual relationships with a third-party intermediary, causing the consolidated funds to assume the credit risk of both the borrower and the intermediary. Certain consolidated funds may invest in real property and real estate-related investments, including commercial mortgage-backed securities (“CMBS”) and real estate loans, that entail substantial inherent risks. There can be no assurance that such investments will increase in value or that significant losses will not be incurred. CMBS are subject to a number of risks, including credit, interest rate, prepayment and market. These risks can be affected by a number of factors, including general economic conditions, particularly those in the area where the related mortgaged properties are located, the level of the borrowers’ equity in the mortgaged properties, and the relative timing and rate of delinquencies and prepayments of mortgage loans bearing a higher rate of interest. Real estate loans include residential or commercial loans that are non-performing at the time of their acquisition or that become non-performing following their acquisition. Non-performing real estate loans may require a substantial amount of workout negotiatio ns or restructuring, which may entail, among other things, a substantial reduction in the interest rate and/or write-down of the principal balance. Moreover, foreclosure on collateral securing one or more real estate loans held by the consolidated funds may be necessary, which may be lengthy and expensive. Residential loans are typically subject to risks associated with the value of the underlying properties, which may be affected by a number of factors including general economic conditions, mortgage qualification standards, local market conditions such as employment levels, the supply of homes, and the safety, convenience and attractiveness of the properties and neighborhoods. Commercial loans are typically subject to risks associated with the ability of the borrower to repay, which may be impacted by general economic conditions, as well as borrower-specific factors including the quality of management, the ability to generate sufficient income to make scheduled principal and interest payments, or the ability to obtain alternative financing to repay the loan. Certain consolidated funds hold over-the-counter derivatives that may allow counterparties to terminate derivative contracts prior to maturity under certain circumstances, thereby resulting in an accelerated payment of any net liability owed to the counterparty.
Reclassifications	Reclassifications Beginning in the third quarter of 2024, investment income (loss) and interest and dividend income have been recorded within revenues and interest expense has been recorded within expenses on the condensed consolidated statements of operations. The Company has reclassified prior period amounts to conform to the current year presentation.
Recent Accounting Developments	Recent Accounting Developments In March 2020, the Financial Accounting Standards Board (“FASB”) issued guidance which provides temporary optional expedients and exceptions to the U.S. GAAP guidance on contract modifications and hedge accounting to ease the financial reporting burdens of the expected market transition from LIBOR and other interbank offered rates to alternative reference rates. The guidance is effective upon issuance and generally may be elected over time through December 31, 2024. Based on the evaluation of the potential impacts of such expedients and exceptions, the Company does not expect the impact of this guidance to be material to its consolidated financial statements and has not adopted any of the optional expedients or exceptions through September 30, 2024. In November 2023, the FASB issued ASU 2023-07, Segment Reporting – Improvements to Reportable Segment Disclosures, which requires, among other things, disclosure of significant segment expense categories and other segment items on an interim and annual basis. Public entities with a single reportable segment are required to provide the new disclosures and all the disclosures required under ASC 280, Segment Reporting. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods in fiscal years beginning after December 15, 2024, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its consolidated financial statements.

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
REVENUES (Tables)	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Incentive Income Revenues by Fund Structure	Incentive income revenues by fund structure are set forth below. Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Incentive Income Closed-end $ — $ — $ 112,497 $ 60,963 Evergreen — 5 5,032 515 Total $ — $ 5 $ 117,529 $ 61,478
Schedule of Revenues by Investment Types	Additionally, the Company earns investment income from the investments the Company makes in its investment in Oaktree Capital I, Oaktree funds, third-party funds and other companies. Revenues by investment types are set forth below. Three months ended September 30, Nine months ended September 30, Investment Income (Loss) 2024 2023 2024 2023 Equity-method investments: Funds $ 3,847 $ 8,075 $ 27,398 $ 22,967 Companies 21,432 7 20,972 4 Other investments, at fair value — 17,415 11,663 12,407 Total investment income (loss) $ 25,279 $ 25,497 $ 60,033 $ 35,378
Schedule of Contract Balances	The table below sets forth contract balances for the periods indicated: As of September 30, 2024 December 31, 2023 Receivables $ — $ 9,407 Contract assets (1) — 192,645 (1) The changes in the balances primarily relate to accruals, net of payments received.

VARIABLE INTEREST ENTITIES (Tab

VARIABLE INTEREST ENTITIES (Tables)	9 Months Ended
VARIABLE INTEREST ENTITIES (Tables)	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Carrying Value of Company’s Investments in VIEs and Impacts of Deconsolidation of Oaktree Capital I	The carrying value of the Company’s investments in VIEs that were not consolidated are shown below. Carrying Value as of September 30, 2024 December 31, 2023 Corporate investments $ 1,149,485 $ 999,112 Due from affiliates 227 199,861 Maximum exposure to loss $ 1,149,712 $ 1,198,973 Impacts of the deconsolidation of Oaktree Capital I due to the 2024 Restructuring are set forth below: As of July 1, 2024 Assets: Cash and cash-equivalents $ (8,805) U.S. Treasury and government agency securities (170,000) Receivables and other assets (58,517) Due from affiliates (8,543) Corporate investments (1,163,351) Assets of consolidated funds (1,711,868) Total assets (3,121,084) Liabilities and Capital: Liabilities: Accounts payable and accrued expenses $ 49,176 Due to affiliates 50,014 Debt obligations 213,161 Liabilities of consolidated funds 1,021,629 Total liabilities 1,333,980 Non-controlling redeemable interests in consolidated funds 339,111 Unitholders’ Capital: Capital attributable to BOH preferred unitholders 400,584 Capital attributable to BOH Class A unitholders 763,724 Non-controlling interest in consolidated subsidiaries 283,685 Total unitholders’ capital 1,447,993 Total liabilities and capital $ 3,121,084

INVESTMENTS (Tables)

INVESTMENTS (Tables)	9 Months Ended
INVESTMENTS (Tables)	Sep. 30, 2024
Investments [Abstract]
Schedule of Corporate Investments	Corporate investments consisted of the following: As of Corporate Investments September 30, 2024 December 31, 2023 Equity-method investments: Funds $ 313,695 $ 1,434,988 Companies 1,140,073 11,901 Other investments, at fair value — 85,319 Total corporate investments $ 1,453,768 $ 1,532,208 Summarized financial information of Oaktree Capital I is set forth below. Three months ended September 30, Nine months ended September 30, Statements of Operations 2024 2024 Revenues / investment income $ 43,996 $ 43,996 Interest expense (9,527) (9,527) Other expenses (4,504) (4,504) Net realized and unrealized gain (loss) on investments 10,357 10,357 Net income $ 40,322 $ 40,322 Summarized financial information of the Company’s remaining equity-method investments is set forth below. Three months ended September 30, Nine months ended September 30, Statements of Operations 2024 2023 2024 2023 Revenues / investment income $ 45,346 $ 978,794 $ 2,294,361 $ 3,219,919 Interest expense (18,957) (124,648) (327,379) (408,648) Other expenses (66,862) (214,634) (649,763) (685,585) Net realized and unrealized gain (loss) on investments 34,475 158,029 1,902,040 43,295 Net income (loss) $ (5,998) $ 797,541 $ 3,219,259 $ 2,168,981
Schedule of Investments, at Fair Value	The following table summarizes net gains (losses) attributable to the Company’s other investments at fair value: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Realized gain (loss) $ — $ 1,031 $ 9,504 $ 3,182 Net change in unrealized gain (loss) — 16,384 2,159 9,225 Total gain (loss) $ — $ 17,415 $ 11,663 $ 12,407 Investments held and securities sold short by the consolidated funds are summarized below: Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 United States: Debt securities: Communication services $ 166,139 $ 69,509 3.4 % 1.4 % Consumer discretionary 127,105 202,355 2.6 3.9 Consumer staples 27,581 28,149 0.6 0.5 Energy 37,205 110,990 0.8 2.2 Financials 159,842 223,794 3.3 4.4 Health care 259,596 226,554 5.4 4.4 Industrials 204,830 379,538 4.2 7.5 Information technology 42,078 87,355 0.9 1.7 Materials 56,200 333,459 1.2 6.5 Real estate 57,771 97,621 1.2 1.9 Utilities 13,601 19,954 0.3 0.4 Other 670,013 549,164 13.7 10.6 Total debt securities (cost: $1,750,731 and $2,341,421 as of September 30, 2024 and December 31, 2023, respectively) 1,821,961 2,328,442 37.6 45.4 Equity securities: Communication services 58,344 79,522 1.2 1.5 Consumer discretionary 37,656 68,056 0.8 1.3 Energy 474,510 427,034 9.8 8.3 Financials 263,244 171,924 5.4 3.3 Health care 61,886 32,418 1.3 0.6 Industrials 471,198 369,019 9.7 7.2 Information technology 54,258 44,350 1.1 0.9 Materials 11,808 — 0.2 0.0 Utilities 7,367 89,427 0.2 1.7 Total equity securities (cost: $1,220,798 and $1,095,721 as of September 30, 2024 and December 31, 2023, respectively) 1,440,271 1,281,750 29.7 24.8 Real estate: Real estate 13,739 13,780 0.3 0.3 Financials 41,402 — 0.9 0.0 Total real estate securities (cost: $65,930 and $22,716 as of September 30, 2024 and December 31, 2023, respectively) 55,141 13,780 1.2 0.3 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 Europe: Debt securities: Communication services $ (1,965) $ 111,898 — % 2.1 % Consumer discretionary — 18,560 — 0.4 Consumer staples — 3,107 — 0.1 Energy — 1,185 — 0.0 Financials — 18,381 — 0.4 Health care 82,601 12,136 1.7 0.2 Industrials 4,478 15,993 0.1 0.3 Information technology — 5,402 — 0.1 Materials — 13,487 — 0.3 Real estate 53,386 13,424 1.1 0.3 Utilities — 5,417 — 0.1 Other 43,203 34,686 0.9 0.6 Total debt securities (cost: $168,431 and $231,315 as of September 30, 2024 and December 31, 2023, respectively) 181,703 253,676 3.8 4.9 Equity securities: Communication Services 70,661 — 1.5 — Consumer discretionary 44,383 52,468 0.9 1.0 Materials 24,282 24,282 0.5 0.5 Financials 48,873 49,496 1.0 1.0 Health care — 19 — 0.0 Industrials 103,573 93,662 2.1 1.7 Real estate 43,699 44,637 0.9 0.9 Total equity securities (cost: $262,804 and $208,130 as of September 30, 2024 and December 31, 2023, respectively) 335,471 264,564 6.9 5.1 Real estate: Consumer Discretionary 71,536 61,357 1.5 1.2 Real estate 133,429 100,216 2.8 1.9 Total real estate securities (cost: $181,760 and $159,423 as of September 30, 2024 and December 31, 2023, respectively) 204,965 161,573 4.3 3.1 Asia and other: Debt securities: Communication services — 803 — 0.0 Consumer discretionary 45,296 17,195 0.9 0.3 Consumer staples 18,779 19,820 0.4 0.4 Energy — 1,307 — 0.0 Financials — 8,192 — 0.2 Health care — 402 — 0.0 Industrials — 4,181 — 0.1 Information technology — 5 — 0.0 Materials 243,440 249,492 5.0 4.9 Real estate 370,429 435,799 7.6 8.5 Utilities — 3,244 — 0.1 Total debt securities (cost: $689,075 and $761,394 as of September 30, 2024 and December 31, 2023, respectively) 677,944 740,440 13.9 14.5 Fair Value as of Fair Value as a Percentage of Investments of Consolidated Funds as of Investments September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 Asia and other: Equity securities: Industrials $ 86,453 $ 63,161 1.8 % 1.2 % Real estate 32,916 32,916 0.7 0.6 Utilities 6,050 3,375 0.1 0.1 Total equity securities (cost: $106,079 and $90,638 as of September 30, 2024 and December 31, 2023, respectively) 125,419 99,452 2.6 1.9 Total debt securities 2,681,608 3,322,558 55.3 64.8 Total equity securities 1,901,161 1,645,766 39.3 31.8 Total real estate 260,106 175,353 5.4 3.4 Total investments, at fair value $ 4,842,875 $ 5,143,677 100.0 % 100.0 %
Schedule of Net Gains (Losses) from Investment Activities	The following table summarizes net gains (losses) from investment activities: Three months ended September 30, 2024 2023 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Investments and other financial instruments $ 30,142 $ 64,925 $ 9,364 $ (22,929) Foreign-currency forward contracts (2) 646 (20,101) 4 14,990 Total return, interest rate and credit default swaps (2) — 7,860 693 (480) Options and futures (2) 822 — 1,495 141 Commodity swaps (2) 923 (217) 2,495 (1,081) Total $ 32,533 $ 52,467 $ 14,051 $ (9,359) Nine months ended September 30, 2024 2023 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Investments and other financial instruments $ 26,283 $ 155,848 $ 66,831 $ (64,867) CLO liabilities (1) 185 1,597 — — Foreign-currency forward contracts (2) 411 (14,189) (1,517) 4,410 Total-return and interest-rate swaps (2) — 11,448 810 (24) Options and futures (2) 584 1,600 2,567 877 Commodity swaps (2) 8,151 (8,658) 7,741 12,274 Total $ 35,614 $ 147,646 $ 76,432 $ (47,330) (1) Represents the net change in the fair value of CLO liabilities based on the more observable fair value of CLO assets, as measured under the CLO measurement guidance. Please see note 2 for more information. (2)

FAIR VALUE (Tables)

FAIR VALUE (Tables)	9 Months Ended
FAIR VALUE (Tables)	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities by Fair-Value Hierarchy Level	The Company’s other financial assets and financial liabilities by fair-value hierarchy level are set forth below. Please see notes 8 and 14 for the fair value of the Company’s outstanding debt obligations and amounts due from/to affiliates, respectively. Following the 2024 Restructuring, with the deconsolidation of Oaktree Capital I, the Company no longer holds any debt obligations. As of September 30, 2024 As of December 31, 2023 Level I Level II Level III Total Level I Level II Level III Total Assets Corporate investments $ — $ 304,283 $ — $ 304,283 $ 72,085 $ 317,551 $ 20,994 $ 410,630 SPAC common stock and earn-out shares included in other assets — — — — 25,360 — 1,797 27,157 Foreign-currency forward contracts included in other assets — — — — — 8,098 — 8,098 Total assets $ — $ 304,283 $ — $ 304,283 $ 97,445 $ 325,649 $ 22,791 $ 445,885 Liabilities Foreign-currency forward contracts - included in corporate investments $ — $ — $ — $ — $ — $ (8,010) $ — $ (8,010) Total liabilities $ — $ — $ — $ — $ — $ (8,010) $ — $ (8,010)
Schedule of Investments and Other Financial Instruments of Consolidated Funds by Fair-Value Hierarchy Level	The table below summarizes the investments and other financial instruments of the consolidated funds by fair-value hierarchy level: As of September 30, 2024 As of December 31, 2023 Level I Level II Level III Total Level I Level II Level III Total Assets Investments: Corporate debt – bank debt $ — $ 567,695 $ 1,712,311 $ 2,280,006 $ — $ 641,615 $ 1,721,888 $ 2,363,503 Corporate debt – all other — 300,972 100,630 401,602 — 698,763 260,292 959,055 Equities – common stock 187,997 37,057 1,103,607 1,328,661 165,649 31,779 846,773 1,044,201 Equities – preferred stock 2,333 — 570,167 572,500 1,929 — 599,636 601,565 Real estate — — 260,106 260,106 — — 175,353 175,353 Total investments 190,330 905,724 3,746,821 4,842,875 167,578 1,372,157 3,603,942 5,143,677 Derivatives: Foreign-currency forward contracts — 426 — 426 — 475 — 475 Swaps — 11,448 18,221 29,669 8,658 — — 8,658 Total derivatives (1) — 11,874 18,221 30,095 8,658 475 — 9,133 Total assets $ 190,330 $ 917,598 $ 3,765,042 $ 4,872,970 $ 176,236 $ 1,372,632 $ 3,603,942 $ 5,152,810 Liabilities Derivatives: Foreign-currency forward contracts $ — $ (33,743) $ — $ (33,743) $ — $ (21,659) $ — $ (21,659) Options and futures (426) — — (426) (571) — — (571) Total derivatives (2) (426) (33,743) — (34,169) (571) (21,659) — (22,230) Total liabilities $ (426) $ (33,743) $ — $ (34,169) $ (571) $ (21,659) $ — $ (22,230) (1) Amounts are included in derivative assets under “assets of consolidated funds” in the condensed consolidated statements of financial condition. (2) Amounts are included in derivative liabilities under “liabilities of consolidated funds” in the condensed consolidated statements of financial condition.
Schedule of Changes in Fair Value of Level III Investments	The following tables set forth a summary of changes in the fair value of Level III investments: Corporate Debt – Bank Debt Corporate Debt – All Other Equities – Common Stock Equities – Preferred Stock Real Estate Swaps Total Three months ended September 30, 2024 Beginning balance $ 1,654,942 $ 198,028 $ 1,049,656 $ 667,154 $ 246,862 $ 18,254 $ 3,834,896 Deconsolidation of funds (70,255) (10) (575) (2,356) — (73,196) Transfers into Level III 136,725 11,231 84,494 153 17,603 — 250,206 Transfers out of Level III (105,000) (93,971) (57,113) (7,134) (28,618) — (291,836) Purchases 173,975 134 29,316 24,043 21,572 6 249,046 Sales (87,091) (8,496) (32,785) (121,764) (17,732) — (267,868) Realized gain (losses), net 1,502 (155) 3,217 30,760 — (39) 35,285 Unrealized appreciation (depreciation), net 7,513 (6,131) 27,397 (20,689) 20,419 — 28,509 Ending balance $ 1,712,311 $ 100,630 $ 1,103,607 $ 570,167 $ 260,106 $ 18,221 $ 3,765,042 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (125) $ (3,539) $ 33,705 $ (20,028) $ 20,419 $ — $ 30,432 Three months ended September 30, 2023 Beginning balance $ 1,262,634 $ 177,323 $ 809,676 $ 618,684 $ 88,675 $ — $ 2,956,992 Transfers into Level III 167,450 — — — — — 167,450 Transfers out of Level III (112,066) (1,485) — — — — (113,551) Purchases 54,335 944 7,055 14,182 4,870 — 81,386 Sales (26,266) (14,498) (4,167) (11,884) — — (56,815) Realized gain (losses), net 329 (244) (785) (4,073) (236) — (5,009) Unrealized appreciation (depreciation), net (11,871) (133) 15,328 (26,598) (722) — (23,996) Ending balance $ 1,334,545 $ 161,907 $ 827,107 $ 590,311 $ 92,587 $ — $ 3,006,457 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (12,374) $ (193) $ 15,254 $ (26,483) $ (722) $ — $ (24,518) Corporate Debt – Bank Debt Corporate Debt – All Other Equities – Common Stock Equities – Preferred Stock Real Estate Swaps Total Nine months ended September 30, 2024 Beginning balance $ 1,721,888 $ 260,292 $ 846,773 $ 599,636 $ 175,353 $ — $ 3,603,942 Deconsolidation of funds (70,255) (10) (575) (2,356) — — (73,196) Initial consolidation of funds 2,962 — — — — — 2,962 Transfers into Level III 358,757 26,590 139,172 153 23,738 — 548,410 Transfers out of Level III (388,815) (159,901) (72,773) (7,134) (28,618) — (657,241) Purchases 516,419 25,727 235,083 102,272 89,190 18,221 986,912 Sales (444,229) (46,636) (124,069) (154,744) (17,732) — (787,410) Realized gain, net 5,505 (407) 51,081 (57,207) — — (1,028) Unrealized appreciation (depreciation), net 10,079 (5,025) 28,915 89,547 18,175 — 141,691 Ending balance $ 1,712,311 $ 100,630 $ 1,103,607 $ 570,167 $ 260,106 $ 18,221 $ 3,765,042 Net change in unrealized appreciation attributable to assets still held at end of period $ 12,230 $ (5,174) $ 28,804 $ 89,330 $ 18,175 $ — $ 143,365 Nine months ended September 30, 2023 Beginning balance $ 702,497 $ 219,503 $ 777,198 $ 616,604 $ 74,471 $ — $ 2,390,273 Transfers into Level III 168,379 8,903 17,267 — — — 194,549 Transfers out of Level III (116,707) (2,463) — — — — (119,170) Purchases 676,120 2,667 58,013 54,601 18,591 — 809,992 Sales (69,887) (70,674) (47,335) (47,421) — — (235,317) Realized losses, net 477 (671) 20,465 4,937 (239) — 24,969 Unrealized appreciation (depreciation), net (26,334) 4,642 1,499 (38,410) (236) — (58,839) Ending balance $ 1,334,545 $ 161,907 $ 827,107 $ 590,311 $ 92,587 $ — $ 3,006,457 Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period $ (26,859) $ 4,560 $ 1,476 $ (38,410) $ (234) $ — $ (59,467) -`-------------
Schedule of Valuation Techniques and Quantitative Information	The following table sets forth a summary of the valuation techniques and quantitative information utilized in determining the fair value of the consolidated funds’ Level III investments as of September 30, 2024: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (1)(2) Range Weighted Average (3) Credit-oriented investments: Consumer discretionary: $ 64,850 Discounted cash flow (4) Discount rate 15% - 18% 16% 23,484 Recent transaction price (4) Quoted prices Not applicable Not applicable 13,231 Recent market information (5) Quoted prices Not applicable Not applicable 21,811 Market approach (comparable companies) (7) Multiple of underlying assets (9) 1x - 1x 1x Energy 2,254 Recent market information (5) Quoted prices Not applicable Not applicable 34,951 Discounted cash flow (4) Discount rate 14% - 14% 14% Financials 19,219 Market approach (comparable companies) (7) Multiple of underlying assets (9) 0.5x - 1x 0.9x 47,368 Discounted cash flow (6) Discount rate 5% - 13% 8% 38,096 Recent market information (5) Quoted prices Not applicable Not applicable 12,748 Recent transaction price (4) Quoted prices Not applicable Not applicable 11 Expected Recovery (11) Not applicable Not applicable Not applicable Industrials 79,015 Discounted cash flow (6) Discount rate 8% - 19% 15% (45) Recent market information (5) Quoted prices Not applicable Not applicable 4,478 Recent transaction price (4) Quoted prices Not applicable Not applicable 526 Market approach (comparable companies) (7) Earnings multiple (10) 7x - 7x 7x Materials 164,438 Discounted cash flow (6) Discount rate 13% - 14% 13% 1,896 Recent market information (5) Quoted prices Not applicable Not applicable 78,798 Recent transaction price (4) Quoted prices Not applicable Not applicable Real estate 25,819 Recent market information (7) Quoted prices Not applicable Not applicable 63,214 Recent transaction price (4) Quoted prices Not applicable Not applicable 193,245 Discounted cash flow (6) Discount rate 5% - 15% 14% 163,257 Market approach (comparable companies) (7) Multiple of underlying assets (9) 1x - 1x 1x Other 27,795 Recent market information (5) Quoted prices Not applicable Not applicable 691,221 Discounted cash flow (6) Discount rate 7% - 18% 16% 25,284 Recent transaction price (4) Quoted prices Not applicable Not applicable 23,488 Market approach (comparable companies) (7) Earnings multiple (10) 7x - 7.5x 7.1x 10,710 Market approach (comparable companies) (7) Revenue multiple (8) 2x - 2x 2x Equity investments: 296,264 Recent transaction price (4) Quoted prices Not applicable Not applicable 1,233 Recent market information (5) Quoted prices Not applicable Not applicable 131,552 Discounted cash flow (6) Discount rate 12% - 18% 15% 23,466 Discounted cash flow (6) / market approach (comparable companies) (7) Discount rate 13% - 13% 13% Earnings multiple (10) 10.0x - 12.0x 11.0x 385,243 Market approach (comparable companies) (7) Earnings multiple (10) 5.0x - 16.0x 9.0x 34,483 Market approach (comparable companies) (7) Revenue multiple (8) 2.0x - 2.0x 2.0x 790,020 Market approach (comparable companies) (7) Multiple of underlying assets (9) 1.0x - 2x 1.0x 10,059 Expected Recovery (11) Not applicable Not applicable Not applicable 1,454 Black Scholes (12) Not applicable Not applicable Not applicable Real estate-oriented investments: Consumer discretionary: 71,536 Discounted cash flow (6) Discount rate 20% - 20% 20% Financials 41,402 Recent transaction price (4) Quoted prices Not applicable Not applicable Real estate: 147,168 Discounted cash flow (6) Discount rate 5% - 26% 15% Total Level III $ 3,765,042 The following table sets forth a summary of the valuation techniques and quantitative information utilized in determining the fair value of the consolidated funds’ Level III investments as of December 31, 2023: Investment Type Fair Value Valuation Technique Significant Unobservable Inputs (1)(2) Range Weighted Average (3) Credit-oriented investments: Consumer discretionary $ 11,311 Recent transaction price (4) Quoted prices Not applicable Not applicable 351 Recent market information (5) Quoted prices Not applicable Not applicable 55,326 Discounted cash flow (6) Discount rate 13% – 17% 16% Energy 15,873 Discounted cash flow (6) Discount rate 14% – 14% 14% 69,871 Recent transaction price (4) Quoted prices Not applicable Not applicable 2,325 Recent market information (5) Quoted prices Not applicable Not applicable Financials 26,689 Discounted cash flow (6) Discount rate 12% – 15% 15% 26,102 Recent market information (5) Quoted prices Not applicable Not applicable 3,646 Recent transaction price (4) Quoted prices Not applicable Not applicable 20,520 Market approach (comparable companies) (7) Multiple of underlying assets (9) 0.5x - 1.0x 0.7x Industrials 79,824 Discounted cash flow (6) Discount rate 11% – 15% 13% 62,544 Market approach (comparable companies) (7) Earnings multiple (10) 9.8x - 9.8x 9.8x 452 Recent market information (5) Quoted prices Not applicable Not applicable 51,788 Recent transaction price (4) Quoted prices Not applicable Not applicable Materials 306,319 Discounted cash flow (6) Discount rate 10% – 15% 12% 193,614 Recent transaction price (4) Quoted prices Not applicable Not applicable — Recent market information (5) Quoted prices Not applicable Not applicable Real estate 35,084 Recent transaction price (4) Quoted prices Not applicable Not applicable 211,211 Discounted cash flow (6) Discount rate 13% – 15% 15% 193,771 Market approach (comparable companies) (7) Multiple of underlying assets (9) 1.0x -1.0x 1.0x 37,419 Recent market information (5) Quoted prices Not applicable Not applicable Other 4,316 Recent market information (5) Quoted prices Not applicable Not applicable 1,612 Recent transaction price (4) Quoted prices Not applicable Not applicable 19,820 Market approach (comparable companies) (7) Earnings multiple (10) 6.0x - 6.0x 6.0x 1,345 Market approach (comparable companies) (7) Revenue multiple (8) 0.3x - 0.3x 0.3x 551,047 Discounted cash flow (6) Discount rate 9% – 19% 18% Equity investments: 179,009 Recent transaction price (4) Quoted prices Not applicable Not applicable 670,215 Market approach (comparable companies) (7) Multiple of underlying assets (9) 0.9x - 1.0x 1.0x 396,688 Market approach (comparable companies) (7) Earnings multiple (10) 2.0x - 11.0x 8.5x 102,981 Discounted cash flow (6) Discount rate 12% – 20% 15% 60,841 Market approach (comparable companies) (7) Revenue multiple (8) 1.0x - 2.0x 1.5x 22,573 Discounted cash flow (6) / Market approach (comparable companies) (7) Discount rate 12% – 12% 12% Earnings multiple (10) 9.0x - 11.0x 10.0x 14,102 Recent market information (5) Quoted prices Not applicable Not applicable Real estate-oriented: Consumer discretionary 61,357 Discounted cash flow (6) Discount rate 20% – 20% 20% Real estate: 113,996 Discounted cash flow (6) Discount rate 4% – 27% 14% Total Level III $ 3,603,942 (1) The discount rate is the significant unobservable input used in the fair-value measurement of performing credit-oriented investments in which the consolidated funds do not have a controlling interest in the underlying issuer, as well as certain equity investments and real estate loan portfolios. An increase (decrease) in the discount rate would result in a lower (higher) fair-value measurement. (2) Multiple of either earnings or underlying assets is the significant unobservable input used in the market approach for the fair-value measurement of distressed credit-oriented investments, credit-oriented investments in which the consolidated funds have a controlling interest in the underlying issuer, equity investments and certain real estate-oriented investments. An increase (decrease) in the multiple would result in a higher (lower) fair-value measurement. (3) The weighted average is based on the fair value of the investments included in the range. (4) Certain investments are valued based on recent transactions, generally defined as investments 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. (5) Certain investments are valued using vendor prices or broker quotes for the subject or similar securities. Generally, investments valued in this manner are 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. (6) A discounted cash-flow method is generally used to value performing credit-oriented investments in which the consolidated funds do not have a controlling interest in the underlying issuer, as well as certain equity investments, real estate-oriented investments and real estate loan portfolios. (7) A market approach is generally used to value distressed investments and investments in which the consolidated funds have a controlling interest in the underlying. (8) Revenue multiples are based on comparable public companies and transactions with comparable companies. The Company typically applies the multiple to trailing twelve-months’ revenue. However, in certain cases other revenue measures, such as pro forma revenue, may be utilized if deemed to be more relevant. (9) A market approach using the value of underlying assets utilizes a multiple, based on comparable companies, of underlying assets or the net book value of the portfolio company. The Company typically obtains the value of underlying assets from the underlying portfolio company’s financial statements or from pricing vendors. The Company may value the underlying assets by using prices and other relevant information from market transactions involving comparable assets. (10) Earnings multiples are based on comparable public companies and transactions with comparable companies. The Company typically utilizes multiples of EBITDA; however, in certain cases the Company may use other earnings multiples believed to be most relevant to the investment. The Company typically applies the multiple to trailing twelve-months’ EBITDA. However, in certain cases other earnings measures, such as pro forma EBITDA, may be utilized if deemed to be more relevant. (11) Certain investments are valued based on expected recovery, generally representing the estimated value that can be recovered in the event of liquidation or winding down. (12) The fair value of options/warrants is estimated using the Black-Scholes-Merton valuation model. The company uses the following methods to determine the underlying assumptions: expected volatilities are based on the historical and implied volatilities of comparable companies or the subject company if the subject company is publicly traded; expected term is based on the shorter of the expected hold period for the option or the contractual term; and the risk-free rate is based on the yields on U.S. Treasury bills or bonds issued with similar terms to the expected term of the option.

DERIVATIVES AND HEDGING (Tables

DERIVATIVES AND HEDGING (Tables)	9 Months Ended
DERIVATIVES AND HEDGING (Tables)	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Freestanding Derivatives	The fair value of freestanding derivatives consisted of the following: Assets Liabilities Notional Fair Value Notional Fair Value As of September 30, 2024 Foreign-currency forward contracts $ — $ — $ — $ — As of December 31, 2023 Foreign-currency forward contracts $ 221,910 $ 8,608 $ (234,353) $ (8,520)
Schedule of Realized and Unrealized Gains and Losses Arising from Freestanding Derivatives and Impact of Derivatives Held	Realized and unrealized gains and losses arising from freestanding derivatives were recorded in the condensed consolidated statements of operations as follows: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Investment income $ — $ 7,544 $ 8,634 $ 4,935 General and administrative expense (1) — — (8,188) — Total gain (loss) $ — $ 7,544 $ 446 $ 4,935 (1) To the extent that the Company’s freestanding derivatives are utilized to hedge its foreign-currency exposure to investment income earned from consolidated funds, the related hedged items are eliminated in consolidation, with the derivative impact (a positive number reflects a reduction in expenses) reflected in consolidated general and administrative expense. The impact of derivatives held by the consolidated funds in the condensed consolidated statements of operations was as follows: Three months ended September 30, 2024 2023 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Foreign-currency forward contracts $ 646 $ (20,101) $ 4 $ 14,990 Total-return and interest-rate and credit default swaps — 7,860 693 (480) Options and futures 822 — 1,495 141 Commodity swaps 923 (217) 2,495 (1,081) Total $ 2,391 $ (12,458) $ 4,687 $ 13,570 Nine months ended September 30, 2024 2023 Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Net Realized Gain (Loss) on Investments Net Change in Unrealized Appreciation (Depreciation) on Investments Foreign-currency forward contracts $ 411 $ (14,189) $ (1,517) $ 4,410 Total-return and interest-rate and credit default swaps — 11,448 810 (24) Options and futures 584 1,600 2,567 877 Commodity swaps 8,151 (8,658) 7,741 12,274 Total $ 9,146 $ (9,799) $ 9,601 $ 17,537
Schedule of Fair Value of Derivatives Held by Consolidated Funds	The fair value of derivatives held by the consolidated funds consisted of the following: Assets Liabilities Notional Fair Value Notional Fair Value As of September 30, 2024 Foreign-currency forward contracts $ 777,928 $ 426 $ (62,166) $ (33,743) Total-return and interest-rate and credit default swaps 214,884 29,669 — — Options and futures — — (9,049) (426) Total $ 992,812 $ 30,095 $ (71,215) $ (34,169) As of December 31, 2023 Foreign-currency forward contracts $ 508,174 $ 475 $ (118,263) $ (21,659) Total-return and interest-rate and credit default swaps 41,113 8,658 — — Options and futures 6,749 — (163,187) (571) Total $ 556,036 $ 9,133 $ (281,450) $ (22,230)
Schedule of Balance Sheet Offsetting Assets	The “gross amounts not offset in statements of financial condition” columns represent derivatives that management has elected not to offset in the condensed consolidated statements of financial condition even though they are eligible to be offset in accordance with applicable accounting guidance. Gross Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of September 30, 2024 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ — $ — $ — $ — Derivative assets of consolidated funds: Foreign-currency forward contracts 426 — — 426 Total-return and interest-rate and credit default swaps 29,669 — — 29,669 Options and futures — — — — Subtotal 30,095 — — 30,095 Total $ 30,095 $ — $ — $ 30,095 Derivative Liabilities: Foreign-currency forward contracts $ — $ — $ — $ — Derivative liabilities of consolidated funds: Foreign-currency forward contracts (33,743) — — (33,743) Total-return and interest-rate and credit default swaps — — — — Options and futures (426) — — (426) Subtotal (34,169) — — (34,169) Total $ (34,169) $ — $ — $ (34,169) Gross Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of December 31, 2023 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ 8,608 $ 510 $ — $ 8,098 Derivative assets of consolidated funds: Foreign-currency forward contracts 475 — — 475 Total-return and interest-rate and credit default swaps 8,658 — — 8,658 Options and futures — — — — Subtotal 9,133 — — 9,133 Total $ 17,741 $ 510 $ — $ 17,231 Derivative Liabilities: Foreign-currency forward contracts $ (8,520) $ (510) $ — $ (8,010) Derivative liabilities of consolidated funds: Foreign-currency forward contracts (21,659) — — (21,659) Total-return and interest-rate and credit default swaps — — — — Options and futures (571) — (571) Subtotal (22,230) — — (22,230) Total $ (30,750) $ (510) $ — $ (30,240)
Schedule of Balance Sheet Offsetting Liabilities	The “gross amounts not offset in statements of financial condition” columns represent derivatives that management has elected not to offset in the condensed consolidated statements of financial condition even though they are eligible to be offset in accordance with applicable accounting guidance. Gross Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of September 30, 2024 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ — $ — $ — $ — Derivative assets of consolidated funds: Foreign-currency forward contracts 426 — — 426 Total-return and interest-rate and credit default swaps 29,669 — — 29,669 Options and futures — — — — Subtotal 30,095 — — 30,095 Total $ 30,095 $ — $ — $ 30,095 Derivative Liabilities: Foreign-currency forward contracts $ — $ — $ — $ — Derivative liabilities of consolidated funds: Foreign-currency forward contracts (33,743) — — (33,743) Total-return and interest-rate and credit default swaps — — — — Options and futures (426) — — (426) Subtotal (34,169) — — (34,169) Total $ (34,169) $ — $ — $ (34,169) Gross Amounts of Assets (Liabilities) Presented Gross Amounts Not Offset in Statements of Financial Condition Net Amount As of December 31, 2023 Derivative Assets (Liabilities) Cash Collateral Received (Pledged) Derivative Assets: Foreign-currency forward contracts $ 8,608 $ 510 $ — $ 8,098 Derivative assets of consolidated funds: Foreign-currency forward contracts 475 — — 475 Total-return and interest-rate and credit default swaps 8,658 — — 8,658 Options and futures — — — — Subtotal 9,133 — — 9,133 Total $ 17,741 $ 510 $ — $ 17,231 Derivative Liabilities: Foreign-currency forward contracts $ (8,520) $ (510) $ — $ (8,010) Derivative liabilities of consolidated funds: Foreign-currency forward contracts (21,659) — — (21,659) Total-return and interest-rate and credit default swaps — — — — Options and futures (571) — (571) Subtotal (22,230) — — (22,230) Total $ (30,750) $ (510) $ — $ (30,240)

DEBT OBLIGATIONS AND CREDIT F_2

DEBT OBLIGATIONS AND CREDIT FACILITIES (Tables)	9 Months Ended
DEBT OBLIGATIONS AND CREDIT FACILITIES (Tables)	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt Obligations and Maximum Exposure to Debt Obligations	The offering closed on June 8, 2022, and Oaktree Capital I received proceeds of €200 million on the closing date. Subsequent to the 2024 Restructuring, the Company’s financial statements no longer reflect debt obligations or related liabilities associated with Oaktree Capital I. As of September 30, 2024 December 31, 2023 Senior unsecured notes €50,000, 2.20%, issued in June 2022, payable on June 8, 2032 $ — $ 55,233 €75,000, 2.40%, issued in June 2022, payable on June 8, 2034 — 82,849 €75,000, 2.58%, issued in June 2022, payable on June 8, 2037 — 82,849 Total remaining principal — 220,931 Less: Debt issuance costs — (1,249) Total debt obligations, net $ — $ 219,682 As of September 30, 2024 December 31, 2023 Senior unsecured notes $50,000, 3.91%, issued in September 2014, payable on September 3, 2024 $ — $ 50,000 $100,000, 4.01%, issued in September 2014, payable on September 3, 2026 — 100,000 $100,000, 4.21%, issued in September 2014, payable on September 3, 2029 — 100,000 $100,000, 3.69%, issued in July 2016, payable on July 12, 2031 — 100,000 $250,000, 3.78%, issued in December 2017, payable on December 18, 2032 — 250,000 $200,000, 3.64%, issued in July 2020, payable on July 22, 2030 — 200,000 $50,000, 3.84%, issued in July 2020, payable on July 22, 2035 — 50,000 $200,000, 3.06%, issued in January 2022, payable on January 12, 2037 — 200,000 Total remaining principal $ — $ 1,050,000
Schedule of Consolidated Funds of Debt Obligations Outstanding	The consolidated funds had the following debt obligations outstanding: Outstanding Amount as of Key terms as of September 30, 2024 Credit Agreement September 30, 2024 December 31, 2023 Facility Capacity Effective Interest Rate Weighted Average Remaining Maturity (years) Commitment Fee Rate L/C Fee Revolving credit facilities (1) $ 1,461,065 $ 951,950 $ 1,684,547 7.16% 0.74 0.25% 2.22% Less: Debt issuance costs (6,461) (6,155) Total debt obligations, net (2) $ 1,454,604 $ 945,795 (1) The credit facility capacity is calculated on a pro rata basis using fund commitments as of September 30, 2024. (2) Debt issuance costs are included in other assets as of September 30, 2024 and December 31, 2023.

NON-CONTROLLING REDEEMABLE IN_2

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS (Tables)	9 Months Ended
	Sep. 30, 2024
Non-Controlling Redeemable Interests in Consolidated Funds [Abstract]
Schedule of Changes in Non-controlling Redeemable Interests in Consolidated Funds	The following table sets forth a summary of changes in the non-controlling redeemable interests in the consolidated funds. Dividends reinvested and in-kind contributions or distributions are non-cash in nature and have been presented on a gross basis in the table below. Nine months ended September 30, 2024 2023 Beginning balance $ 3,336,548 $ 2,182,414 Deconsolidation of funds (500,020) — Contributions 269,994 1,167,818 Distributions (397,474) (78,182) Net income 336,844 141,414 Change in distributions payable — (33) Foreign currency translation and other, net (1,005) (29) Ending balance $ 3,044,887 $ 3,413,402

UNITHOLDERS' CAPITAL (Tables)

UNITHOLDERS' CAPITAL (Tables)	9 Months Ended
UNITHOLDERS' CAPITAL (Tables)	Sep. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Net Income Attributable to Preferred Unitholders, the OCGH and Other Non-Controlling Interests and Class A Common Unitholder	The following table sets forth a summary of net income attributable to the preferred unitholders, the OCGH and other non-controlling interests and the Class A common unitholders: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Weighted average Oaktree Operating Group units outstanding (in thousands): OCGH and other non-controlling interests 47,450 54,690 50,041 56,851 Class A unitholders 112,694 105,416 110,091 103,244 Total weighted average units outstanding 160,144 160,106 160,132 160,095 Oaktree Capital I net income: Net income attributable to preferred unitholders (1) $ 6,829 $ 6,829 $ 20,487 $ 20,487 Net income (loss) attributable to OCGH and other non-controlling interests 7,121 9,198 68,786 14,943 Net income (loss) attributable to BOH Class A unitholders 14,188 17,578 99,830 26,093 Oaktree Capital I net income (loss) $ 28,138 $ 33,605 $ 189,103 $ 61,523 Net income (loss) attributable to BOH Class A unitholders: Oaktree Capital I net income (loss) attributable to BOH Class A unitholders $ 14,188 $ 17,578 $ 99,830 $ 26,093 Non-Operating Group income (expense) 22,574 7,526 51,692 31,605 Net income (loss) attributable to BOH Class A unitholders $ 36,762 $ 25,104 $ 151,522 $ 57,698 (1) Represents distributions declared, if any, on the preferred units.
Schedule of Changes in Company's Ownership Interest	The change in the Company’s ownership interest in the Oaktree Operating Group is set forth below: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 Net income attributable to BOH Class A unitholders $ 36,762 $ 25,104 $ 151,522 $ 57,698 Equity reallocation between controlling and non-controlling interests — 1,402 33,948 36,484 Change from net income attributable to BOH Class A unitholders and transfers from non-controlling interests $ 36,762 $ 26,506 $ 185,470 $ 94,182

EARNINGS PER UNIT (Tables)

EARNINGS PER UNIT (Tables)	9 Months Ended
EARNINGS PER UNIT (Tables)	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computations of Net Income (Loss) Per Class A Unit	The computation of net income (loss) per Class A unit is set forth below: Three months ended September 30, Nine months ended September 30, 2024 2023 2024 2023 (in thousands, except per unit amounts) Net income per Class A unit (basic and diluted): Net income attributable to BOH Class A unitholders $ 36,762 $ 25,104 $ 151,522 $ 57,698 Weighted average number of Class A units outstanding (basic and diluted) 112,694 109,199 110,091 107,047 Basic and diluted net income (net of tax) per Class A unit $ 0.33 $ 0.23 $ 1.38 $ 0.54

RELATED-PARTY TRANSACTIONS (Tab

RELATED-PARTY TRANSACTIONS (Tables)	9 Months Ended
RELATED-PARTY TRANSACTIONS (Tables)	Sep. 30, 2024
Related Party Transactions [Abstract]
Schedule Of Amounts Due from and to Affiliates	Amounts due from and to affiliates are set forth below. The fair value of amounts due from and to affiliates is a Level III valuation and was valued based on a discounted cash-flow analysis. The carrying value of amounts due from and to affiliates approximated fair value due to their short-term nature or because their weighted average interest rate approximated the Company’s cost of debt. As of September 30, 2024 December 31, 2023 Due from affiliates: Loans to affiliates $ — $ 25,996 Incentive income due from unconsolidated funds and affiliates — 202,052 Payments made on behalf of unconsolidated entities 227 4,437 Total due from affiliates $ 227 $ 232,485 Due to affiliates: Loans from affiliates $ — $ 47,909 Amounts due to unconsolidated entities 200 14,850 Total due to affiliates $ 200 $ 62,759

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION (Details)	Sep. 30, 2024 vote
Oaktree Capital I
Class of Stock [Line Items]
Ownership interest (percent)	72%
Class A Units
Class of Stock [Line Items]
Number of votes per share	1
Class B Units
Class of Stock [Line Items]
Number of votes per share	10

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Sep. 30, 2024
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Incentive income compensation vesting period (in years)	5 years
Closed-end
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of fund profits	20%
Percentage of preferred return on funds	8%
Evergreen
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of fund profits	20%
Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Withdrawal period (in years)	1 month
Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Withdrawal period (in years)	3 years

REVENUES - Schedule of Incentiv

REVENUES - Schedule of Incentive Income Revenues by Fund Structure (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 140,320	$ 112,449	$ 550,379	$ 343,698
Incentive income
Disaggregation of Revenue [Line Items]
Revenues	0	5	117,529	61,478
Closed-end
Disaggregation of Revenue [Line Items]
Revenues	0	0	112,497	60,963
Evergreen
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ 5	$ 5,032	$ 515

REVENUES - Schedule of Revenues

REVENUES - Schedule of Revenues by Investment Types (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Equity Method Investments [Line Items]
Other investments, at fair value	$ 0	$ 17,415	$ 11,663	$ 12,407
Total investment income (loss)	25,279	25,497	60,033	35,378
Funds
Schedule of Equity Method Investments [Line Items]
Equity-method investments:	3,847	8,075	27,398	22,967
Companies
Schedule of Equity Method Investments [Line Items]
Equity-method investments:	$ 21,432	$ 7	$ 20,972	$ 4

REVENUES - Schedule of Contract

REVENUES - Schedule of Contract Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Receivables	$ 0	$ 9,407
Contract assets	$ 0	$ 192,645

VARIABLE INTEREST ENTITIES - Ad

VARIABLE INTEREST ENTITIES - Additional Information (Details) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024 USD ($) entity	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) entity	Jul. 01, 2024 USD ($)
Variable Interest Entity [Line Items]
Assets	$ 6,966,464		$ 7,555,933	$ 3,121,084
Liabilities	1,608,534		$ 1,634,479	$ 1,333,980
Gain (loss) recognized on restructuring of assets and liabilities	(3,450)	$ 104
Oaktree Capital I
Variable Interest Entity [Line Items]
Gain (loss) recognized on restructuring of assets and liabilities	$ 0
Consolidated VIEs
Variable Interest Entity [Line Items]
Number of VIE's consolidated \| entity	2		9
Assets	$ 5,500,000
Liabilities	1,600,000
Carrying value of investments	$ 800,000

VARIABLE INTEREST ENTITIES - Sc

VARIABLE INTEREST ENTITIES - Schedule of Carrying Value of Company’s Investments in VIEs (Details) - Equity Method Investment, Nonconsolidated Investee or Group of Investees - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 1,149,712	$ 1,198,973
Corporate investments
Variable Interest Entity [Line Items]
Maximum exposure to loss	1,149,485	999,112
Due from affiliates
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 227	$ 199,861

VARIABLE INTEREST ENTITIES - _2

VARIABLE INTEREST ENTITIES - Schedule of Impacts of Deconsolidation of Oaktree Capital I (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jul. 01, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Total assets	$ (6,966,464)	$ (3,121,084)		$ (7,555,933)
Total liabilities	1,608,534	1,333,980		1,634,479
Non-controlling redeemable interests in consolidated funds	3,044,887			3,336,548	$ 3,413,402		$ 2,182,414
Capital attributable to BOH unitholders	2,304,835			2,251,711
Non-controlling interest in consolidated subsidiaries	8,208			333,195
Total unitholders’ capital	2,313,043		$ 2,566,835	2,584,906	$ 2,404,414	$ 2,388,723	$ 1,906,638
Total liabilities and unitholders’ capital	6,966,464			7,555,933
Related Party
Variable Interest Entity [Line Items]
Due from affiliates	(227)			(232,485)
Accounts payable, accrued expenses and due to affiliates	$ 200			$ 62,759
Oaktree Capital I
Variable Interest Entity [Line Items]
Cash and cash-equivalents		(8,805)
U.S. Treasury and government agency securities		(170,000)
Receivables and other assets		(58,517)
Due from affiliates		(8,543)
Corporate investments		(1,163,351)
Assets of consolidated funds		(1,711,868)
Debt obligations		213,161
Liabilities of consolidated funds		1,021,629
Non-controlling redeemable interests in consolidated funds		339,111
Non-controlling interest in consolidated subsidiaries		283,685
Total unitholders’ capital		1,447,993
Total liabilities and unitholders’ capital		3,121,084
Oaktree Capital I \| Preferred Units
Variable Interest Entity [Line Items]
Capital attributable to BOH unitholders		400,584
Oaktree Capital I \| Class A Units
Variable Interest Entity [Line Items]
Capital attributable to BOH unitholders		763,724
Oaktree Capital I \| Nonrelated Party
Variable Interest Entity [Line Items]
Accounts payable, accrued expenses and due to affiliates		49,176
Oaktree Capital I \| Related Party
Variable Interest Entity [Line Items]
Accounts payable, accrued expenses and due to affiliates		$ 50,014

INVESTMENTS - Schedule of Corpo

INVESTMENTS - Schedule of Corporate Investments (Details) - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Other investments, at fair value	$ 0	$ 85,319
Total corporate investments	1,453,768	1,532,208
Funds
Schedule of Equity Method Investments [Line Items]
Equity-method investments:	313,695	1,434,988
Companies
Schedule of Equity Method Investments [Line Items]
Equity-method investments:	$ 1,140,073	$ 11,901

INVESTMENTS - Equity-Method Inv

INVESTMENTS - Equity-Method Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statements of Operations
Interest expense	$ (21,630)	$ (5,919)	$ (72,785)	$ (34,629)
Net realized and unrealized gain (loss) on investments			$ 183,260	29,102
Oaktree Funds
Schedule of Equity Method Investments [Line Items]
Ownership interest (percent)	2.50%		2.50%
Brookfield Corporate Treasury Ltd. (“Treasury”)
Schedule of Equity Method Investments [Line Items]
Equity investment gain (loss)	$ 3,500		$ (13,100)
Statements of Operations
Net income (loss)	$ 3,500		$ (13,100)
Oaktree Capital I
Schedule of Equity Method Investments [Line Items]
Ownership interest (percent)	72%		72%
Equity investment gain (loss)	$ 40,322		$ 40,322
Statements of Operations
Revenues / investment income	43,996		43,996
Interest expense	(9,527)		(9,527)
Other expenses	(4,504)		(4,504)
Net realized and unrealized gain (loss) on investments	10,357		10,357
Net income (loss)	40,322		40,322
Remaining Investments
Schedule of Equity Method Investments [Line Items]
Equity investment gain (loss)	(5,998)	797,541	3,219,259	2,168,981
Statements of Operations
Revenues / investment income	45,346	978,794	2,294,361	3,219,919
Interest expense	(18,957)	(124,648)	(327,379)	(408,648)
Other expenses	(66,862)	(214,634)	(649,763)	(685,585)
Net realized and unrealized gain (loss) on investments	34,475	158,029	1,902,040	43,295
Net income (loss)	$ (5,998)	$ 797,541	$ 3,219,259	$ 2,168,981

INVESTMENTS - Schedule of Net G

INVESTMENTS - Schedule of Net Gains (Losses) Attributable to Company’s Other Investments at Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Schedule of Investments [Line Items]
Realized gain (loss)	$ 32,533	$ 14,051	$ 35,614	$ 76,432
Net change in unrealized gain (loss)	52,467	(9,359)	147,646	(47,330)
Total gain (loss)			183,260	29,102
Other Investments at Fair Value
Schedule of Investments [Line Items]
Realized gain (loss)	0	1,031	9,504	3,182
Net change in unrealized gain (loss)	0	16,384	2,159	9,225
Total gain (loss)	$ 0	$ 17,415	$ 11,663	$ 12,407

INVESTMENTS - Schedule of Inves

INVESTMENTS - Schedule of Investments Held and Securities Sold Short by Consolidated Funds (Details) $ in Thousands	Sep. 30, 2024 USD ($) investment	Dec. 31, 2023 USD ($) investment
Schedule Of Investments In Marketable Securities [Line Items]
Investments, fair value that exceeds threshold \| investment	0	0
Investments, percentage of net assets, threshold percentage	5%	5%
Consolidated Funds
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 2,681,608	$ 3,322,558
Debt securities, fair value as a percentage of investments of consolidated funds	55.30%	64.80%
Equity securities, fair value	$ 1,901,161	$ 1,645,766
Equity securities, fair value as a percentage of investments of consolidated funds	39.30%	31.80%
Real estate investments, at fair value	$ 260,106	$ 175,353
Real estate, fair value as a percentage of investments of consolidated funds	5.40%	3.40%
Investments, at fair value	$ 4,842,875	$ 5,143,677
Total investments, fair value as a percentage of investments of consolidated funds	100%	100%
Consolidated Funds \| United States:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 1,821,961	$ 2,328,442
Debt securities, fair value as a percentage of investments of consolidated funds	37.60%	45.40%
Total debt securities, cost	$ 1,750,731	$ 2,341,421
Equity securities, fair value	$ 1,440,271	$ 1,281,750
Equity securities, fair value as a percentage of investments of consolidated funds	29.70%	24.80%
Total equity securities, cost	$ 1,220,798	$ 1,095,721
Real estate investments, at fair value	$ 55,141	$ 13,780
Real estate, fair value as a percentage of investments of consolidated funds	1.20%	0.30%
Real estate securities, cost	$ 65,930	$ 22,716
Consolidated Funds \| United States: \| Communication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 166,139	$ 69,509
Debt securities, fair value as a percentage of investments of consolidated funds	3.40%	1.40%
Equity securities, fair value	$ 58,344	$ 79,522
Equity securities, fair value as a percentage of investments of consolidated funds	1.20%	1.50%
Consolidated Funds \| United States: \| Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 127,105	$ 202,355
Debt securities, fair value as a percentage of investments of consolidated funds	2.60%	3.90%
Equity securities, fair value	$ 37,656	$ 68,056
Equity securities, fair value as a percentage of investments of consolidated funds	0.80%	1.30%
Consolidated Funds \| United States: \| Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 27,581	$ 28,149
Debt securities, fair value as a percentage of investments of consolidated funds	0.60%	0.50%
Consolidated Funds \| United States: \| Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 37,205	$ 110,990
Debt securities, fair value as a percentage of investments of consolidated funds	0.80%	2.20%
Equity securities, fair value	$ 474,510	$ 427,034
Equity securities, fair value as a percentage of investments of consolidated funds	9.80%	8.30%
Consolidated Funds \| United States: \| Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 159,842	$ 223,794
Debt securities, fair value as a percentage of investments of consolidated funds	3.30%	4.40%
Equity securities, fair value	$ 263,244	$ 171,924
Equity securities, fair value as a percentage of investments of consolidated funds	5.40%	3.30%
Real estate investments, at fair value	$ 41,402	$ 0
Real estate, fair value as a percentage of investments of consolidated funds	0.90%	0%
Consolidated Funds \| United States: \| Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 259,596	$ 226,554
Debt securities, fair value as a percentage of investments of consolidated funds	5.40%	4.40%
Equity securities, fair value	$ 61,886	$ 32,418
Equity securities, fair value as a percentage of investments of consolidated funds	1.30%	0.60%
Consolidated Funds \| United States: \| Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 204,830	$ 379,538
Debt securities, fair value as a percentage of investments of consolidated funds	4.20%	7.50%
Equity securities, fair value	$ 471,198	$ 369,019
Equity securities, fair value as a percentage of investments of consolidated funds	9.70%	7.20%
Consolidated Funds \| United States: \| Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 42,078	$ 87,355
Debt securities, fair value as a percentage of investments of consolidated funds	0.90%	1.70%
Equity securities, fair value	$ 54,258	$ 44,350
Equity securities, fair value as a percentage of investments of consolidated funds	1.10%	0.90%
Consolidated Funds \| United States: \| Materials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 56,200	$ 333,459
Debt securities, fair value as a percentage of investments of consolidated funds	1.20%	6.50%
Equity securities, fair value	$ 11,808	$ 0
Equity securities, fair value as a percentage of investments of consolidated funds	0.20%	0%
Consolidated Funds \| United States: \| Real estate
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 57,771	$ 97,621
Debt securities, fair value as a percentage of investments of consolidated funds	1.20%	1.90%
Real estate investments, at fair value	$ 13,739	$ 13,780
Real estate, fair value as a percentage of investments of consolidated funds	0.30%	0.30%
Consolidated Funds \| United States: \| Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 13,601	$ 19,954
Debt securities, fair value as a percentage of investments of consolidated funds	0.30%	0.40%
Equity securities, fair value	$ 7,367	$ 89,427
Equity securities, fair value as a percentage of investments of consolidated funds	0.20%	1.70%
Consolidated Funds \| United States: \| Other
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 670,013	$ 549,164
Debt securities, fair value as a percentage of investments of consolidated funds	13.70%	10.60%
Consolidated Funds \| Europe:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 181,703	$ 253,676
Debt securities, fair value as a percentage of investments of consolidated funds	3.80%	4.90%
Total debt securities, cost	$ 168,431	$ 231,315
Equity securities, fair value	$ 335,471	$ 264,564
Equity securities, fair value as a percentage of investments of consolidated funds	6.90%	5.10%
Total equity securities, cost	$ 262,804	$ 208,130
Real estate investments, at fair value	$ 204,965	$ 161,573
Real estate, fair value as a percentage of investments of consolidated funds	4.30%	3.10%
Real estate securities, cost	$ 181,760	$ 159,423
Consolidated Funds \| Europe: \| Communication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ (1,965)	$ 111,898
Debt securities, fair value as a percentage of investments of consolidated funds	0%	2.10%
Equity securities, fair value	$ 70,661	$ 0
Equity securities, fair value as a percentage of investments of consolidated funds	1.50%	0%
Consolidated Funds \| Europe: \| Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 18,560
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0.40%
Equity securities, fair value	$ 44,383	$ 52,468
Equity securities, fair value as a percentage of investments of consolidated funds	0.90%	1%
Real estate investments, at fair value	$ 71,536	$ 61,357
Real estate, fair value as a percentage of investments of consolidated funds	1.50%	1.20%
Consolidated Funds \| Europe: \| Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 3,107
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0.10%
Consolidated Funds \| Europe: \| Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 1,185
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0%
Consolidated Funds \| Europe: \| Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 18,381
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0.40%
Equity securities, fair value	$ 48,873	$ 49,496
Equity securities, fair value as a percentage of investments of consolidated funds	1%	1%
Consolidated Funds \| Europe: \| Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 82,601	$ 12,136
Debt securities, fair value as a percentage of investments of consolidated funds	1.70%	0.20%
Equity securities, fair value	$ 0	$ 19
Equity securities, fair value as a percentage of investments of consolidated funds	0%	0%
Consolidated Funds \| Europe: \| Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 4,478	$ 15,993
Debt securities, fair value as a percentage of investments of consolidated funds	0.10%	0.30%
Equity securities, fair value	$ 103,573	$ 93,662
Equity securities, fair value as a percentage of investments of consolidated funds	2.10%	1.70%
Consolidated Funds \| Europe: \| Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 5,402
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0.10%
Consolidated Funds \| Europe: \| Materials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 13,487
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0.30%
Equity securities, fair value	$ 24,282	$ 24,282
Equity securities, fair value as a percentage of investments of consolidated funds	0.50%	0.50%
Consolidated Funds \| Europe: \| Real estate
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 53,386	$ 13,424
Debt securities, fair value as a percentage of investments of consolidated funds	1.10%	0.30%
Equity securities, fair value	$ 43,699	$ 44,637
Equity securities, fair value as a percentage of investments of consolidated funds	0.90%	0.90%
Real estate investments, at fair value	$ 133,429	$ 100,216
Real estate, fair value as a percentage of investments of consolidated funds	2.80%	1.90%
Consolidated Funds \| Europe: \| Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 5,417
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0.10%
Consolidated Funds \| Europe: \| Other
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 43,203	$ 34,686
Debt securities, fair value as a percentage of investments of consolidated funds	0.90%	0.60%
Consolidated Funds \| Asia and other:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 677,944	$ 740,440
Debt securities, fair value as a percentage of investments of consolidated funds	13.90%	14.50%
Total debt securities, cost	$ 689,075	$ 761,394
Equity securities, fair value	$ 125,419	$ 99,452
Equity securities, fair value as a percentage of investments of consolidated funds	2.60%	1.90%
Total equity securities, cost	$ 106,079	$ 90,638
Consolidated Funds \| Asia and other: \| Communication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 803
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0%
Consolidated Funds \| Asia and other: \| Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 45,296	$ 17,195
Debt securities, fair value as a percentage of investments of consolidated funds	0.90%	0.30%
Consolidated Funds \| Asia and other: \| Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 18,779	$ 19,820
Debt securities, fair value as a percentage of investments of consolidated funds	0.40%	0.40%
Consolidated Funds \| Asia and other: \| Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 1,307
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0%
Consolidated Funds \| Asia and other: \| Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 8,192
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0.20%
Consolidated Funds \| Asia and other: \| Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 402
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0%
Consolidated Funds \| Asia and other: \| Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 4,181
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0.10%
Equity securities, fair value	$ 86,453	$ 63,161
Equity securities, fair value as a percentage of investments of consolidated funds	1.80%	1.20%
Consolidated Funds \| Asia and other: \| Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 5
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0%
Consolidated Funds \| Asia and other: \| Materials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 243,440	$ 249,492
Debt securities, fair value as a percentage of investments of consolidated funds	5%	4.90%
Consolidated Funds \| Asia and other: \| Real estate
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 370,429	$ 435,799
Debt securities, fair value as a percentage of investments of consolidated funds	7.60%	8.50%
Equity securities, fair value	$ 32,916	$ 32,916
Equity securities, fair value as a percentage of investments of consolidated funds	0.70%	0.60%
Consolidated Funds \| Asia and other: \| Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 3,244
Debt securities, fair value as a percentage of investments of consolidated funds	0%	0.10%
Equity securities, fair value	$ 6,050	$ 3,375
Equity securities, fair value as a percentage of investments of consolidated funds	0.10%	0.10%

INVESTMENTS - Schedule of Net_2

INVESTMENTS - Schedule of Net Gains (Losses) from Investment Activities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	$ 32,533	$ 14,051	$ 35,614	$ 76,432
Net Change in Unrealized Appreciation (Depreciation) on Investments	52,467	(9,359)	147,646	(47,330)
Consolidated Funds \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	32,533	14,051	35,614	76,432
Net Change in Unrealized Appreciation (Depreciation) on Investments	52,467	(9,359)	147,646	(47,330)
Consolidated Funds \| Investments and other financial instruments \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	30,142	9,364	26,283	66,831
Net Change in Unrealized Appreciation (Depreciation) on Investments	64,925	(22,929)	155,848	(64,867)
Consolidated Funds \| CLO liabilities \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments			185	0
Net Change in Unrealized Appreciation (Depreciation) on Investments			1,597	0
Consolidated Funds \| Foreign-currency forward contracts \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	646	4	411	(1,517)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(20,101)	14,990	(14,189)	4,410
Consolidated Funds \| Total-return and interest-rate and credit default swaps \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	0	693
Net Change in Unrealized Appreciation (Depreciation) on Investments	7,860	(480)
Consolidated Funds \| Total-return and interest-rate swaps \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments			0	810
Net Change in Unrealized Appreciation (Depreciation) on Investments			11,448	(24)
Consolidated Funds \| Options and futures \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	822	1,495	584	2,567
Net Change in Unrealized Appreciation (Depreciation) on Investments	0	141	1,600	877
Consolidated Funds \| Commodity swaps \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	923	2,495	8,151	7,741
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ (217)	$ (1,081)	$ (8,658)	$ 12,274

FAIR VALUE - Schedule of Financ

FAIR VALUE - Schedule of Financial Assets and Liabilities by Fair-Value Hierarchy Level (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	$ 30,095	$ 17,741
Derivative liabilities	(34,169)	(30,750)
Oaktree Capital Group Excluding Consolidated Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	304,283	402,620
Oaktree Capital Group Excluding Consolidated Funds \| Foreign-currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	0	8,608
Derivative liabilities	0	(8,520)
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
SPAC common stock and earn-out shares included in other assets	0	27,157
Total assets	304,283	445,885
Total liabilities	0	(8,010)
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Foreign-currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	0	8,098
Derivative liabilities	0	(8,010)
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Corporate investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	304,283	410,630
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
SPAC common stock and earn-out shares included in other assets	0	25,360
Total assets	0	97,445
Total liabilities	0	0
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Foreign-currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	0	0
Derivative liabilities	0	0
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Corporate investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	0	72,085
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
SPAC common stock and earn-out shares included in other assets	0	0
Total assets	304,283	325,649
Total liabilities	0	(8,010)
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Foreign-currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	0	8,098
Derivative liabilities	0	(8,010)
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Corporate investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	304,283	317,551
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
SPAC common stock and earn-out shares included in other assets	0	1,797
Total assets	0	22,791
Total liabilities	0	0
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Foreign-currency forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	0	0
Derivative liabilities	0	0
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Corporate investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	$ 0	$ 20,994

FAIR VALUE - Schedule of Invest

FAIR VALUE - Schedule of Investments and Other Financial Instruments of Consolidated Funds by Fair-Value Hierarchy Level (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	$ 30,095	$ 17,741
Total derivatives	(34,169)	(30,750)
Consolidated Funds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	4,842,875	5,143,677
Total derivatives	30,095	9,133
Total derivatives	(34,169)	(22,230)
Consolidated Funds \| Options and futures
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	0	0
Total derivatives	(426)	(571)
Consolidated Funds \| Level III
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	3,765,042	3,603,942
Consolidated Funds \| Fair Value, Measurements, Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	4,842,875	5,143,677
Total derivatives	30,095	9,133
Total assets	4,872,970	5,152,810
Total derivatives	(34,169)	(22,230)
Total liabilities	(34,169)	(22,230)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Foreign-currency forward contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	426	475
Total derivatives	(33,743)	(21,659)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Swaps
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	29,669	8,658
Consolidated Funds \| Fair Value, Measurements, Recurring \| Options and futures
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	(426)	(571)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Corporate debt – bank debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	2,280,006	2,363,503
Consolidated Funds \| Fair Value, Measurements, Recurring \| Corporate debt – all other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	401,602	959,055
Consolidated Funds \| Fair Value, Measurements, Recurring \| Equities – common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	1,328,661	1,044,201
Consolidated Funds \| Fair Value, Measurements, Recurring \| Equities – preferred stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	572,500	601,565
Consolidated Funds \| Fair Value, Measurements, Recurring \| Real estate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	260,106	175,353
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	190,330	167,578
Total derivatives	0	8,658
Total assets	190,330	176,236
Total derivatives	(426)	(571)
Total liabilities	(426)	(571)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Foreign-currency forward contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	0	0
Total derivatives	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Swaps
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	0	8,658
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Options and futures
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	(426)	(571)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Corporate debt – bank debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Corporate debt – all other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Equities – common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	187,997	165,649
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Equities – preferred stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	2,333	1,929
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Real estate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	905,724	1,372,157
Total derivatives	11,874	475
Total assets	917,598	1,372,632
Total derivatives	(33,743)	(21,659)
Total liabilities	(33,743)	(21,659)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Foreign-currency forward contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	426	475
Total derivatives	(33,743)	(21,659)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Swaps
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	11,448	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Options and futures
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Corporate debt – bank debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	567,695	641,615
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Corporate debt – all other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	300,972	698,763
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Equities – common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	37,057	31,779
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Equities – preferred stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Real estate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	3,746,821	3,603,942
Total derivatives	18,221	0
Total assets	3,765,042	3,603,942
Total derivatives	0	0
Total liabilities	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Foreign-currency forward contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	0	0
Total derivatives	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Swaps
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	18,221	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Options and futures
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Corporate debt – bank debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	1,712,311	1,721,888
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Corporate debt – all other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	100,630	260,292
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Equities – common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	1,103,607	846,773
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Equities – preferred stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	570,167	599,636
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Real estate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	$ 260,106	$ 175,353

FAIR VALUE - Schedule of Change

FAIR VALUE - Schedule of Changes in Fair Value of Level III Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Net change in unrealized appreciation (depreciation) on consolidated funds’ investments	Net change in unrealized appreciation (depreciation) on consolidated funds’ investments	Net change in unrealized appreciation (depreciation) on consolidated funds’ investments	Net change in unrealized appreciation (depreciation) on consolidated funds’ investments
Consolidated Funds
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 3,834,896	$ 2,956,992	$ 3,603,942	$ 2,390,273
Deconsolidation of funds	(73,196)		(73,196)
Initial consolidation of funds			2,962
Transfers into Level III	250,206	167,450	548,410	194,549
Transfers out of Level III	(291,836)	(113,551)	(657,241)	(119,170)
Purchases	249,046	81,386	986,912	809,992
Sales	(267,868)	(56,815)	(787,410)	(235,317)
Realized gain (losses), net	35,285	(5,009)	(1,028)	24,969
Unrealized appreciation (depreciation), net	28,509	(23,996)	141,691	(58,839)
Ending balance	3,765,042	3,006,457	3,765,042	3,006,457
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	30,432	(24,518)	143,365	(59,467)
Consolidated Funds \| Corporate Debt – Bank Debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,654,942	1,262,634	1,721,888	702,497
Deconsolidation of funds	(70,255)		(70,255)
Initial consolidation of funds			2,962
Transfers into Level III	136,725	167,450	358,757	168,379
Transfers out of Level III	(105,000)	(112,066)	(388,815)	(116,707)
Purchases	173,975	54,335	516,419	676,120
Sales	(87,091)	(26,266)	(444,229)	(69,887)
Realized gain (losses), net	1,502	329	5,505	477
Unrealized appreciation (depreciation), net	7,513	(11,871)	10,079	(26,334)
Ending balance	1,712,311	1,334,545	1,712,311	1,334,545
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(125)	(12,374)	12,230	(26,859)
Consolidated Funds \| Corporate Debt – All Other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	198,028	177,323	260,292	219,503
Deconsolidation of funds	(10)		(10)
Initial consolidation of funds			0
Transfers into Level III	11,231	0	26,590	8,903
Transfers out of Level III	(93,971)	(1,485)	(159,901)	(2,463)
Purchases	134	944	25,727	2,667
Sales	(8,496)	(14,498)	(46,636)	(70,674)
Realized gain (losses), net	(155)	(244)	(407)	(671)
Unrealized appreciation (depreciation), net	(6,131)	(133)	(5,025)	4,642
Ending balance	100,630	161,907	100,630	161,907
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(3,539)	(193)	(5,174)	4,560
Consolidated Funds \| Equities – Common Stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	1,049,656	809,676	846,773	777,198
Deconsolidation of funds	(575)		(575)
Initial consolidation of funds			0
Transfers into Level III	84,494	0	139,172	17,267
Transfers out of Level III	(57,113)	0	(72,773)	0
Purchases	29,316	7,055	235,083	58,013
Sales	(32,785)	(4,167)	(124,069)	(47,335)
Realized gain (losses), net	3,217	(785)	51,081	20,465
Unrealized appreciation (depreciation), net	27,397	15,328	28,915	1,499
Ending balance	1,103,607	827,107	1,103,607	827,107
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	33,705	15,254	28,804	1,476
Consolidated Funds \| Equities – preferred stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	667,154	618,684	599,636	616,604
Deconsolidation of funds	(2,356)		(2,356)
Initial consolidation of funds			0
Transfers into Level III	153	0	153	0
Transfers out of Level III	(7,134)	0	(7,134)	0
Purchases	24,043	14,182	102,272	54,601
Sales	(121,764)	(11,884)	(154,744)	(47,421)
Realized gain (losses), net	30,760	(4,073)	(57,207)	4,937
Unrealized appreciation (depreciation), net	(20,689)	(26,598)	89,547	(38,410)
Ending balance	570,167	590,311	570,167	590,311
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(20,028)	(26,483)	89,330	(38,410)
Consolidated Funds \| Real Estate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	246,862	88,675	175,353	74,471
Deconsolidation of funds	0		0
Initial consolidation of funds			0
Transfers into Level III	17,603	0	23,738	0
Transfers out of Level III	(28,618)	0	(28,618)	0
Purchases	21,572	4,870	89,190	18,591
Sales	(17,732)	0	(17,732)	0
Realized gain (losses), net	0	(236)	0	(239)
Unrealized appreciation (depreciation), net	20,419	(722)	18,175	(236)
Ending balance	260,106	92,587	260,106	92,587
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	20,419	(722)	18,175	(234)
Consolidated Funds \| Swaps
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	18,254	0	0	0
Deconsolidation of funds			0
Initial consolidation of funds			0
Transfers into Level III	0	0	0	0
Transfers out of Level III	0	0	0	0
Purchases	6	0	18,221	0
Sales	0	0	0	0
Realized gain (losses), net	(39)	0	0	0
Unrealized appreciation (depreciation), net	0	0	0	0
Ending balance	18,221	0	18,221	0
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$ 0	$ 0	$ 0	$ 0

FAIR VALUE - Schedule of Valuat

FAIR VALUE - Schedule of Valuation Techniques and Quantitative Information (Details) - Consolidated Funds $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate investments, at fair value	$ 260,106	$ 175,353
Investments, at fair value	4,842,875	5,143,677
Level III
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Investments, at fair value	3,765,042	3,603,942
Level III \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate investments, at fair value		$ 113,996
Level III \| Discounted Cash Flow \| Minimum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate securities, measurement inputs		4%
Level III \| Discounted Cash Flow \| Maximum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate securities, measurement inputs		27%
Level III \| Discounted Cash Flow \| Weighted Average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate securities, measurement inputs		14%
Level III \| Consumer discretionary \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	64,850	$ 55,326
Real estate-oriented, at fair value	$ 71,536	$ 61,357
Level III \| Consumer discretionary \| Discounted Cash Flow \| Minimum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.15	0.13
Real estate-oriented securities, measurement inputs	20%	20%
Level III \| Consumer discretionary \| Discounted Cash Flow \| Maximum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.18	0.17
Real estate-oriented securities, measurement inputs	20%	20%
Level III \| Consumer discretionary \| Discounted Cash Flow \| Weighted Average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.16	0.16
Real estate-oriented securities, measurement inputs	20%	20%
Level III \| Consumer discretionary \| Recent Market Information
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 13,231	$ 351
Level III \| Consumer discretionary \| Recent Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	23,484	11,311
Level III \| Consumer discretionary \| Market Approach (Comparable Companies)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 21,811
Level III \| Consumer discretionary \| Market Approach (Comparable Companies) \| Minimum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	1
Level III \| Consumer discretionary \| Market Approach (Comparable Companies) \| Maximum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	1
Level III \| Consumer discretionary \| Market Approach (Comparable Companies) \| Weighted Average \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	1
Level III \| Energy \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 34,951	$ 15,873
Level III \| Energy \| Discounted Cash Flow \| Minimum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.14	0.14
Level III \| Energy \| Discounted Cash Flow \| Maximum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.14	0.14
Level III \| Energy \| Discounted Cash Flow \| Weighted Average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.14	0.14
Level III \| Energy \| Recent Market Information
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 2,254	$ 2,325
Level III \| Energy \| Recent Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value		69,871
Level III \| Financials \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 47,368	$ 26,689
Level III \| Financials \| Discounted Cash Flow \| Minimum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.05	0.12
Level III \| Financials \| Discounted Cash Flow \| Maximum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.13	0.15
Level III \| Financials \| Discounted Cash Flow \| Weighted Average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.08	0.15
Level III \| Financials \| Recent Market Information
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 38,096	$ 26,102
Level III \| Financials \| Recent Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	12,748	3,646
Level III \| Financials \| Market Approach (Comparable Companies)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 19,219	$ 20,520
Level III \| Financials \| Market Approach (Comparable Companies) \| Minimum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.5	0.5
Level III \| Financials \| Market Approach (Comparable Companies) \| Maximum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	1	1
Level III \| Financials \| Market Approach (Comparable Companies) \| Weighted Average \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.9	0.7
Level III \| Financials \| Expected Recovery
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 11
Level III \| Industrials \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 79,015	$ 79,824
Level III \| Industrials \| Discounted Cash Flow \| Minimum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.08	0.11
Level III \| Industrials \| Discounted Cash Flow \| Maximum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.19	0.15
Level III \| Industrials \| Discounted Cash Flow \| Weighted Average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.15	0.13
Level III \| Industrials \| Recent Market Information
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ (45)	$ 452
Level III \| Industrials \| Recent Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	4,478	51,788
Level III \| Industrials \| Market Approach (Comparable Companies)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value		$ 62,544
Level III \| Industrials \| Market Approach (Comparable Companies) \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 526
Level III \| Industrials \| Market Approach (Comparable Companies) \| Minimum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	7
Level III \| Industrials \| Market Approach (Comparable Companies) \| Minimum \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs		9.8
Level III \| Industrials \| Market Approach (Comparable Companies) \| Maximum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	7
Level III \| Industrials \| Market Approach (Comparable Companies) \| Maximum \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs		9.8
Level III \| Industrials \| Market Approach (Comparable Companies) \| Weighted Average \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	7
Level III \| Industrials \| Market Approach (Comparable Companies) \| Weighted Average \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs		9.8
Level III \| Materials \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 164,438	$ 306,319
Level III \| Materials \| Discounted Cash Flow \| Minimum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.13	0.10
Level III \| Materials \| Discounted Cash Flow \| Maximum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.14	0.15
Level III \| Materials \| Discounted Cash Flow \| Weighted Average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.13	0.12
Level III \| Materials \| Recent Market Information
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 1,896	$ 0
Level III \| Materials \| Recent Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	78,798	193,614
Level III \| Real estate \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	193,245	$ 211,211
Real estate-oriented, at fair value	$ 147,168
Level III \| Real estate \| Discounted Cash Flow \| Minimum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.05	0.13
Real estate-oriented securities, measurement inputs	5%
Level III \| Real estate \| Discounted Cash Flow \| Maximum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.15	0.15
Real estate-oriented securities, measurement inputs	26%
Level III \| Real estate \| Discounted Cash Flow \| Weighted Average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.14	0.15
Real estate-oriented securities, measurement inputs	15%
Level III \| Real estate \| Recent Market Information
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 25,819	$ 37,419
Level III \| Real estate \| Recent Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	63,214	35,084
Level III \| Real estate \| Market Approach (Comparable Companies)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 163,257	$ 193,771
Level III \| Real estate \| Market Approach (Comparable Companies) \| Minimum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	1	1
Level III \| Real estate \| Market Approach (Comparable Companies) \| Maximum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	1	1
Level III \| Real estate \| Market Approach (Comparable Companies) \| Weighted Average \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	1	1
Level III \| Other \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 691,221	$ 551,047
Level III \| Other \| Discounted Cash Flow \| Minimum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.07	0.09
Level III \| Other \| Discounted Cash Flow \| Maximum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.18	0.19
Level III \| Other \| Discounted Cash Flow \| Weighted Average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	0.16	0.18
Level III \| Other \| Recent Market Information
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 27,795	$ 4,316
Level III \| Other \| Recent Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	25,284	1,612
Level III \| Other \| Market Approach (Comparable Companies) \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	23,488	19,820
Level III \| Other \| Market Approach (Comparable Companies) \| Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, at fair value	$ 10,710	$ 1,345
Level III \| Other \| Market Approach (Comparable Companies) \| Minimum \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	7	6
Level III \| Other \| Market Approach (Comparable Companies) \| Minimum \| Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	2	0.3
Level III \| Other \| Market Approach (Comparable Companies) \| Maximum \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	7.5	6
Level III \| Other \| Market Approach (Comparable Companies) \| Maximum \| Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	2	0.3
Level III \| Other \| Market Approach (Comparable Companies) \| Weighted Average \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	7.1	6
Level III \| Other \| Market Approach (Comparable Companies) \| Weighted Average \| Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Credit-oriented investments, measurement inputs	2	0.3
Level III \| Equity investments: \| Discounted Cash Flow
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, at fair value	$ 131,552	$ 102,981
Level III \| Equity investments: \| Discounted Cash Flow \| Minimum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	0.12	0.12
Level III \| Equity investments: \| Discounted Cash Flow \| Maximum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	0.18	0.20
Level III \| Equity investments: \| Discounted Cash Flow \| Weighted Average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	0.15	0.15
Level III \| Equity investments: \| Recent Market Information
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, at fair value	$ 1,233	$ 14,102
Level III \| Equity investments: \| Recent Market Information \| Minimum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	1
Level III \| Equity investments: \| Recent Market Information \| Maximum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	2
Level III \| Equity investments: \| Recent Market Information \| Weighted Average \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	1
Level III \| Equity investments: \| Recent Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, at fair value	$ 296,264	179,009
Level III \| Equity investments: \| Discounted Cash Flow / Market Approach (Comparable Companies)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, at fair value	$ 23,466	$ 22,573
Level III \| Equity investments: \| Discounted Cash Flow / Market Approach (Comparable Companies) \| Minimum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	0.13	0.12
Level III \| Equity investments: \| Discounted Cash Flow / Market Approach (Comparable Companies) \| Minimum \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	10	9
Level III \| Equity investments: \| Discounted Cash Flow / Market Approach (Comparable Companies) \| Maximum \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	0.13	0.12
Level III \| Equity investments: \| Discounted Cash Flow / Market Approach (Comparable Companies) \| Maximum \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	12	11
Level III \| Equity investments: \| Discounted Cash Flow / Market Approach (Comparable Companies) \| Weighted Average \| Discount rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	0.13	0.12
Level III \| Equity investments: \| Discounted Cash Flow / Market Approach (Comparable Companies) \| Weighted Average \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	11	10
Level III \| Equity investments: \| Market Approach (Comparable Companies)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, at fair value	$ 790,020
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, at fair value		$ 670,215
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, at fair value	34,483	396,688
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, at fair value	$ 385,243	$ 60,841
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Minimum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs		0.9
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Minimum \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	5	2
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Minimum \| Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	2	1
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Maximum \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs		1
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Maximum \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	16	11
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Maximum \| Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	2	2
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Weighted Average \| Multiple of Underlying Assets
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs		1
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Weighted Average \| Earning Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	9	8.5
Level III \| Equity investments: \| Market Approach (Comparable Companies) \| Weighted Average \| Revenue Multiple
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, measurement inputs	2	1.5
Level III \| Equity investments: \| Expected Recovery
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, at fair value	$ 10,059
Level III \| Equity investments: \| Black Scholes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments, at fair value	1,454
Level III \| Financials \| Recent Transaction Price
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Real estate-oriented, at fair value	$ 41,402

DERIVATIVES AND HEDGING - Sched

DERIVATIVES AND HEDGING - Schedule of Fair Value of Freestanding Derivatives (Details) - Oaktree Capital Group Excluding Consolidated Funds - Foreign-currency forward contracts - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Notional	$ 0	$ 221,910
Fair Value	0	8,608
Liabilities
Notional	0	(234,353)
Fair Value	$ 0	$ (8,520)

DERIVATIVES AND HEDGING - Sch_2

DERIVATIVES AND HEDGING - Schedule of Realized and Unrealized Gains and Losses Arising from Freestanding Derivatives (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	$ 0	$ 7,544	$ 446	$ 4,935
Investment income
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	0	7,544	8,634	4,935
General and administrative expense
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss)	$ 0	$ 0	$ (8,188)	$ 0

DERIVATIVES AND HEDGING - Sch_3

DERIVATIVES AND HEDGING - Schedule of Fair Value of Derivatives Held by Consolidated Funds (Details) - Consolidated Funds - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Notional	$ 992,812	$ 556,036
Fair Value	30,095	9,133
Liabilities
Notional	(71,215)	(281,450)
Fair Value	(34,169)	(22,230)
Foreign-currency forward contracts
Assets
Notional	777,928	508,174
Fair Value	426	475
Liabilities
Notional	(62,166)	(118,263)
Fair Value	(33,743)	(21,659)
Total-return and interest-rate and credit default swaps
Assets
Notional	214,884	41,113
Fair Value	29,669	8,658
Liabilities
Notional	0	0
Fair Value	0	0
Options and futures
Assets
Notional	0	6,749
Fair Value	0	0
Liabilities
Notional	(9,049)	(163,187)
Fair Value	$ (426)	$ (571)

DERIVATIVES AND HEDGING - Sch_4

DERIVATIVES AND HEDGING - Schedule of Impact of Derivatives Held by Consolidated Funds (Details) - Not Designated as Hedging Instrument - Consolidated Funds - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	$ 2,391	$ 4,687	$ 9,146	$ 9,601
Net Change in Unrealized Appreciation (Depreciation) on Investments	(12,458)	13,570	(9,799)	17,537
Foreign-currency forward contracts
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	646	4	411	(1,517)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(20,101)	14,990	(14,189)	4,410
Total-return and interest-rate and credit default swaps
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	0	693	0	810
Net Change in Unrealized Appreciation (Depreciation) on Investments	7,860	(480)	11,448	(24)
Options and futures
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	822	1,495	584	2,567
Net Change in Unrealized Appreciation (Depreciation) on Investments	0	141	1,600	877
Commodity swaps
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	923	2,495	8,151	7,741
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ (217)	$ (1,081)	$ (8,658)	$ 12,274

DERIVATIVES AND HEDGING - Sch_5

DERIVATIVES AND HEDGING - Schedule of Balance Sheet Offsetting (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivative Assets:
Gross Amounts of Assets Presented	$ 30,095	$ 17,741
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	0	510
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	30,095	17,231
Derivative Liabilities:
Gross Amounts of Liabilities Presented	(34,169)	(30,750)
Gross Amounts Not Offset in Statements of Financial Condition,, Derivative Liabilities	0	(510)
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Pledged	0	0
Net Amount	(34,169)	(30,240)
Oaktree Capital Group Excluding Consolidated Funds \| Foreign-currency forward contracts
Derivative Assets:
Gross Amounts of Assets Presented	0	8,608
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	0	510
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	0	8,098
Derivative Liabilities:
Gross Amounts of Liabilities Presented	0	(8,520)
Gross Amounts Not Offset in Statements of Financial Condition,, Derivative Liabilities	0	(510)
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Pledged	0	0
Net Amount	0	(8,010)
Consolidated Funds
Derivative Assets:
Gross Amounts of Assets Presented	30,095	9,133
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	0	0
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	30,095	9,133
Derivative Liabilities:
Gross Amounts of Liabilities Presented	(34,169)	(22,230)
Gross Amounts Not Offset in Statements of Financial Condition,, Derivative Liabilities	0	0
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Pledged	0	0
Net Amount	(34,169)	(22,230)
Consolidated Funds \| Foreign-currency forward contracts
Derivative Assets:
Gross Amounts of Assets Presented	426	475
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	0	0
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	426	475
Derivative Liabilities:
Gross Amounts of Liabilities Presented	(33,743)	(21,659)
Gross Amounts Not Offset in Statements of Financial Condition,, Derivative Liabilities	0	0
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Pledged	0	0
Net Amount	(33,743)	(21,659)
Consolidated Funds \| Total-return and interest-rate and credit default swaps
Derivative Assets:
Gross Amounts of Assets Presented	29,669	8,658
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	0	0
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	29,669	8,658
Derivative Liabilities:
Gross Amounts of Liabilities Presented	0	0
Gross Amounts Not Offset in Statements of Financial Condition,, Derivative Liabilities	0	0
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Pledged	0	0
Net Amount	0	0
Consolidated Funds \| Options and futures
Derivative Assets:
Gross Amounts of Assets Presented	0	0
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	0	0
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	0	0
Derivative Liabilities:
Gross Amounts of Liabilities Presented	(426)	(571)
Gross Amounts Not Offset in Statements of Financial Condition,, Derivative Liabilities	0	0
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Pledged	0
Net Amount	$ (426)	$ (571)

DERIVATIVES AND HEDGING - Addit

DERIVATIVES AND HEDGING - Additional Information (Details) - Consolidated VIEs $ in Millions	Jul. 01, 2024 USD ($)
Derivative [Line Items]
Decrease in derivative assets	$ 0.8
Decrease in derivative liabilities	$ 0.4

DEBT OBLIGATIONS AND CREDIT F_3

DEBT OBLIGATIONS AND CREDIT FACILITIES - Additional Information (Details)

9 Months Ended

Oct. 06, 2023

Dec. 15, 2022

Jun. 08, 2022 EUR (€)

Jan. 12, 2022 USD ($)

Jul. 22, 2020 USD ($)

May 19, 2020 USD ($)

Sep. 30, 2024 USD ($)

Dec. 31, 2023 EUR (€)

Dec. 31, 2023 USD ($)

Apr. 07, 2023 USD ($)

Mar. 30, 2022 EUR (€)

Nov. 04, 2021 USD ($)

Sep. 14, 2021 USD ($)

Sep. 13, 2021 USD ($)

May 20, 2020 USD ($)

Senior Variable Rate Notes

Debt Instrument [Line Items]

Proceeds from senior unsecured notes | €

€ 200,000,000

Senior Unsecured Notes

Debt Instrument [Line Items]

Stated interest rate (percent)

3.68%

Credit facility

$ 650,000,000

$ 250,000,000

Proceeds from senior unsecured notes

$ 250,000,000

Credit Agreement | Consolidated Funds | Maximum

Debt Instrument [Line Items]

Term (up to) (in years)

10 years

Credit Agreement | Revolving Credit Facility | Oaktree Capital Group Excluding Consolidated Funds

Debt Instrument [Line Items]

Spread on variable rate (percent)

1.10%

Line of credit facility, unused capacity, commitment fee (percent)

0.10%

Credit Agreement | Revolving Credit Facility | Consolidated Funds

Debt Instrument [Line Items]

Credit facility

$ 1,684,547,000

Line of credit facility, unused capacity, commitment fee (percent)

2.22%

Credit Agreement | Term Loan | Oaktree Capital Group Excluding Consolidated Funds

Debt Instrument [Line Items]

Assets under management, carrying amount

$ 57,500,000,000

$ 65,000,000,000

Leverage ratio, maximum

Additional years

2 years

Fair value of debt obligations

$ 0

$ 175,900,000

Average borrowing rate (percent)

4.90%

€50,000, 2.20%, issued in June 2022, payable on June 8, 2032 | Senior Variable Rate Notes

Debt Instrument [Line Items]

Face amount | €

€ 50,000,000

Stated interest rate (percent)

2.20%

€75,000, 2.40%, issued in June 2022, payable on June 8, 2034 | Senior Variable Rate Notes

Debt Instrument [Line Items]

Face amount | €

€ 75,000,000

Stated interest rate (percent)

2.40%

€75,000, 2.58%, issued in June 2022, payable on June 8, 2037 | Senior Variable Rate Notes

Debt Instrument [Line Items]

Face amount | €

€ 75,000,000

Stated interest rate (percent)

2.58%

Subordinated Credit Facility | Credit Agreement | Revolving Credit Facility | Related Party

Debt Instrument [Line Items]

Credit facility

$ 250,000,000

Senior unsecured notes purchase commitment

$ 250,000,000

Maturity extension, term (in years)

1 year

Subordinated Credit Facility | Credit Agreement | Revolving Credit Facility | Related Party | Secured Overnight Financing Rate (SOFR)

Debt Instrument [Line Items]

Spread on variable rate (percent)

1.60%

Subordinated Credit Facility | Credit Agreement | Revolving Credit Facility | Related Party | Base Rate

Debt Instrument [Line Items]

Spread on variable rate (percent)

0.50%

Senior Unsecured Notes Due 2037 | Senior Variable Rate Notes

Debt Instrument [Line Items]

Face amount

$ 200,000,000

Senior Unsecured Notes Due 2037 | Senior Unsecured Notes

Debt Instrument [Line Items]

Stated interest rate (percent)

3.06%

Proceeds from senior unsecured notes

$ 200,000,000

DEBT OBLIGATIONS AND CREDIT F_4

DEBT OBLIGATIONS AND CREDIT FACILITIES - Schedule of Debt Obligations (Details) - Senior Variable Rate Notes $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Jun. 08, 2022 EUR (€)	Mar. 30, 2022 EUR (€)
Debt Instrument [Line Items]
Outstanding amount	$ 0	$ 220,931
Less: Debt issuance costs	0	1,249
Total debt obligations, net	0	$ 219,682
€50,000, 2.20%, issued in June 2022, payable on June 8, 2032
Debt Instrument [Line Items]
Face amount \| €			€ 50,000,000	€ 50,000,000	€ 50,000,000
Stated interest rate (percent)		2.20%	2.20%	2.20%	2.20%
Outstanding amount	0	$ 55,233
€75,000, 2.40%, issued in June 2022, payable on June 8, 2034
Debt Instrument [Line Items]
Face amount \| €			€ 75,000,000	€ 75,000,000	€ 75,000,000
Stated interest rate (percent)		2.40%	2.40%	2.40%	2.40%
Outstanding amount	0	$ 82,849
€75,000, 2.58%, issued in June 2022, payable on June 8, 2037
Debt Instrument [Line Items]
Face amount \| €			€ 75,000,000	€ 75,000,000	€ 75,000,000
Stated interest rate (percent)		2.58%	2.58%	2.58%	2.58%
Outstanding amount	$ 0	$ 82,849

DEBT OBLIGATIONS AND CREDIT F_5

DEBT OBLIGATIONS AND CREDIT FACILITIES - Schedule of Maximum Exposure to Debt Obligations (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Senior secured notes
Debt Instrument [Line Items]
Total remaining principal	$ 0	$ 220,931,000
Oaktree Capital Group Excluding Consolidated Funds
Debt Instrument [Line Items]
Total remaining principal	0	1,050,000,000
Oaktree Capital Group Excluding Consolidated Funds \| Senior secured notes \| $50,000, 3.91%, issued in September 2014, payable on September 3, 2024
Debt Instrument [Line Items]
Face amount	$ 50,000,000
Stated interest rate (percent)	3.91%
Total remaining principal	$ 0	50,000,000
Oaktree Capital Group Excluding Consolidated Funds \| Senior secured notes \| $100,000, 4.01%, issued in September 2014, payable on September 3, 2026
Debt Instrument [Line Items]
Face amount	$ 100,000,000
Stated interest rate (percent)	4.01%
Total remaining principal	$ 0	100,000,000
Oaktree Capital Group Excluding Consolidated Funds \| Senior secured notes \| $100,000, 4.21%, issued in September 2014, payable on September 3, 2029
Debt Instrument [Line Items]
Face amount	$ 100,000,000
Stated interest rate (percent)	4.21%
Total remaining principal	$ 0	100,000,000
Oaktree Capital Group Excluding Consolidated Funds \| Senior secured notes \| $100,000, 3.69%, issued in July 2016, payable on July 12, 2031
Debt Instrument [Line Items]
Face amount	$ 100,000,000
Stated interest rate (percent)	3.69%
Total remaining principal	$ 0	100,000,000
Oaktree Capital Group Excluding Consolidated Funds \| Senior secured notes \| $250,000, 3.78%, issued in December 2017, payable on December 18, 2032
Debt Instrument [Line Items]
Face amount	$ 250,000,000
Stated interest rate (percent)	3.78%
Total remaining principal	$ 0	250,000,000
Oaktree Capital Group Excluding Consolidated Funds \| Senior secured notes \| $200,000, 3.64%, issued in July 2020, payable on July 22, 2030
Debt Instrument [Line Items]
Face amount	$ 200,000,000
Stated interest rate (percent)	3.64%
Total remaining principal	$ 0	200,000,000
Oaktree Capital Group Excluding Consolidated Funds \| Senior secured notes \| $50,000, 3.84%, issued in July 2020, payable on July 22, 2035
Debt Instrument [Line Items]
Face amount	$ 50,000,000
Stated interest rate (percent)	3.84%
Total remaining principal	$ 0	50,000,000
Oaktree Capital Group Excluding Consolidated Funds \| Senior secured notes \| $200,000, 3.06%, issued in January 2022, payable on January 12, 2037
Debt Instrument [Line Items]
Face amount	$ 200,000,000
Stated interest rate (percent)	3.06%
Total remaining principal	$ 0	$ 200,000,000

DEBT OBLIGATIONS AND CREDIT F_6

DEBT OBLIGATIONS AND CREDIT FACILITIES - Schedule of Consolidated Funds of Debt Obligations Outstanding (Details) - Credit Agreement - Consolidated VIEs - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Less: Debt issuance costs	$ (6,461)	$ (6,155)
Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding amount	1,461,065	951,950
Total debt obligations, net	1,454,604	$ 945,795
Facility Capacity	$ 1,684,547
Effective Interest Rate (percent)	7.16%
Weighted Average Remaining Maturity (years)	8 months 26 days
Commitment Fee Rate (percent)	0.25%
L/C Fee (percent)	2.22%

NON-CONTROLLING REDEEMABLE IN_3

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS - Schedule of Changes in Non-controlling Redeemable Interests in Consolidated Funds (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Non-Controlling Redeemable Interests in Consolidated Funds [Roll Forward]
Beginning balance	$ 3,336,548	$ 2,182,414
Deconsolidation of funds	(500,020)	0
Contributions	269,994	1,167,818
Distributions	(397,474)	(78,182)
Net income	336,844	141,414
Change in distributions payable	0	(33)
Foreign currency translation and other, net	(1,005)	(29)
Ending balance	$ 3,044,887	$ 3,413,402

NON-CONTROLLING REDEEMABLE IN_4

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Jul. 01, 2024	Sep. 30, 2024	Sep. 30, 2024
Redeemable Noncontrolling Interest [Line Items]
Decrease in non-controlling redeemable interests in consolidated funds		$ 269,563	$ 269,563
Oaktree Capital I
Redeemable Noncontrolling Interest [Line Items]
Decrease in non-controlling redeemable interests in consolidated funds	$ 334,100

UNITHOLDERS' CAPITAL - Addition

UNITHOLDERS' CAPITAL - Additional Information (Details) - USD ($)	Aug. 09, 2018	May 17, 2018	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Total unitholders’ capital			$ 2,313,043,000	$ 2,566,835,000	$ 2,584,906,000	$ 2,404,414,000	$ 2,388,723,000	$ 1,906,638,000
Non-controlling interests in consolidated subsidiaries			$ 8,208,000		$ 333,195,000
Preferred redemption price (in dollars per share)			$ 25
Series A Preferred Units
Class of Stock [Line Items]
Preferred dividend rate (percent)		6.625%
Preferred redemption price (in dollars per share)		$ 25
Sale of stock, consideration received		$ 173,700,000
Series A Preferred Units \| Preferred Stock Issuance
Class of Stock [Line Items]
Number of shares issued during mergers (in shares)		7,200,000
Series B Preferred Units
Class of Stock [Line Items]
Preferred dividend rate (percent)	6.55%
Preferred redemption price (in dollars per share)	$ 25
Sale of stock, consideration received	$ 226,900,000
Series B Preferred Units \| Preferred Stock Issuance
Class of Stock [Line Items]
Number of shares issued during mergers (in shares)	9,400,000
OCGH
Class of Stock [Line Items]
Unitholders' capital (in shares)			43,771,190		50,915,764
Non-controlling interests in consolidated subsidiaries			$ 0		$ 333,195,000
Total Weighted Average Units Outstanding
Class of Stock [Line Items]
Subsidiary units outstanding (in shares)					160,114,755
Total unitholders’ capital			$ 0		$ 1,058,126,000
Total Weighted Average Units Outstanding \| Converted OCGH Units and OCGH Units
Class of Stock [Line Items]
Subsidiary units outstanding (in shares)			160,144,424
Equity Held by Third Parties
Class of Stock [Line Items]
Non-controlling interests in consolidated subsidiaries			$ 0		$ 0

UNITHOLDERS' CAPITAL - Schedule

UNITHOLDERS' CAPITAL - Schedule of Net Income Attributable to Preferred Unitholders, the OCGH and Other Non-Controlling Interests and Class A Common Unitholder (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Weighted average Oaktree Operating Group units outstanding (in thousands):
Total weighted average units outstanding, diluted (in shares)	160,144	160,106	160,132	160,095
Oaktree Capital I net income:
Oaktree Capital I net income (loss)	$ 183,384	$ 94,240	$ 570,934	$ 234,542
Net income (loss) attributable to BOH Class A unitholders:
Oaktree Capital I net income (loss) attributable to BOH Class A unitholders	14,188	17,578	99,830	26,093
Non-Operating Group income (expense)	22,574	7,526	51,692	31,605
Net income (loss) attributable to Brookfield Oaktree Holdings, LLC Class A unitholders	$ 36,762	$ 25,104	$ 151,522	$ 57,698
Oaktree Operating Group
Weighted average Oaktree Operating Group units outstanding (in thousands):
Total weighted average units outstanding, basic (in shares)	160,144	160,106	160,132	160,095
Oaktree Capital I
Oaktree Capital I net income:
Oaktree Capital I net income (loss)	$ 28,138	$ 33,605	$ 189,103	$ 61,523
OCGH Units \| Oaktree Operating Group
Weighted average Oaktree Operating Group units outstanding (in thousands):
Total weighted average units outstanding, basic (in shares)	47,450	54,690	50,041	56,851
Total weighted average units outstanding, diluted (in shares)	47,450	54,690	50,041	56,851
OCGH Units \| Oaktree Capital I
Oaktree Capital I net income:
Oaktree Capital I net income (loss)	$ 7,121	$ 9,198	$ 68,786	$ 14,943
Class A Units
Weighted average Oaktree Operating Group units outstanding (in thousands):
Total weighted average units outstanding, basic (in shares)	112,694	109,199	110,091	107,047
Total weighted average units outstanding, diluted (in shares)	112,694	109,199	110,091	107,047
Net income (loss) attributable to BOH Class A unitholders:
Net income (loss) attributable to Brookfield Oaktree Holdings, LLC Class A unitholders	$ 36,762	$ 25,104	$ 151,522	$ 57,698
Class A Units \| Oaktree Operating Group
Weighted average Oaktree Operating Group units outstanding (in thousands):
Total weighted average units outstanding, basic (in shares)	112,694	105,416	110,091	103,244
Total weighted average units outstanding, diluted (in shares)	112,694	105,416	110,091	103,244
Class A Units \| Oaktree Capital I
Oaktree Capital I net income:
Oaktree Capital I net income (loss)	$ 14,188	$ 17,578	$ 99,830	$ 26,093
Series A Preferred Units \| Oaktree Capital I
Oaktree Capital I net income:
Oaktree Capital I net income (loss)	$ 6,829	$ 6,829	$ 20,487	$ 20,487

UNITHOLDERS' CAPITAL - Schedu_2

UNITHOLDERS' CAPITAL - Schedule of Changes in Company's Ownership Interest (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Net income attributable to BOH Class A unitholders, basic	$ 36,762	$ 25,104	$ 151,522	$ 57,698
Equity reallocation between controlling and non-controlling interests	0	1,402	33,948	36,484
Change from net income attributable to BOH Class A unitholders and transfers from non-controlling interests	$ 36,762	$ 26,506	$ 185,470	$ 94,182

EARNINGS PER UNIT (Details)

EARNINGS PER UNIT (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income per Class A unit (basic and diluted):
Net income attributable to BOH Class A unitholders, basic	$ 36,762	$ 25,104	$ 151,522	$ 57,698
Weighted average number of Class A units outstanding, diluted (in shares)	160,144	160,106	160,132	160,095
Basic net income (net of tax) per Class A unit (in dollars per share)	$ 0.33	$ 0.23	$ 1.38	$ 0.54
Diluted net income (net of tax) per Class A unit (in dollars per share)	$ 0.33	$ 0.23	$ 1.38	$ 0.54
Class A Units
Net income per Class A unit (basic and diluted):
Net income attributable to BOH Class A unitholders, basic	$ 36,762	$ 25,104	$ 151,522	$ 57,698
Net income attributable to BOH Class A unitholders, diluted	$ 36,762	$ 25,104	$ 151,522	$ 57,698
Weighted average number of Class A units outstanding, basic (in shares)	112,694	109,199	110,091	107,047
Weighted average number of Class A units outstanding, diluted (in shares)	112,694	109,199	110,091	107,047
Basic net income (net of tax) per Class A unit (in dollars per share)	$ 0.33	$ 0.23	$ 1.38	$ 0.54
Diluted net income (net of tax) per Class A unit (in dollars per share)	$ 0.33	$ 0.23	$ 1.38	$ 0.54

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Contingencies And Commitments [Line Items]
Accrued incentives (fund level)		$ 1,800,000,000
Compensation expense related to accrued incentives (fund level)		739,100,000
Consolidated Funds
Contingencies And Commitments [Line Items]
Potential aggregate commitments	$ 0	0
Oaktree Opportunities Fund XI, L.P.
Contingencies And Commitments [Line Items]
Capital commitments	112,500,000
Oaktree Opportunities Fund XII, L.P.
Contingencies And Commitments [Line Items]
Capital commitments	$ 712,500,000
Oaktree Capital I, LP
Contingencies And Commitments [Line Items]
Capital commitments		$ 349,900,000

RELATED-PARTY TRANSACTIONS - Sc

RELATED-PARTY TRANSACTIONS - Schedule Of Amounts Due from and to Affiliates (Details) - Related Party - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Due from affiliates:
Due from affiliates	$ 227	$ 232,485
Due to affiliates:
Accounts payable, accrued expenses and due to affiliates	200	62,759
Loans to affiliates
Due from affiliates:
Due from affiliates	0	25,996
Incentive income due from unconsolidated funds and affiliates
Due from affiliates:
Due from affiliates	0	202,052
Payments made on behalf of unconsolidated entities
Due from affiliates:
Due from affiliates	227	4,437
Loans from affiliates
Due to affiliates:
Accounts payable, accrued expenses and due to affiliates	0	47,909
Amounts due to unconsolidated entities
Due to affiliates:
Accounts payable, accrued expenses and due to affiliates	$ 200	$ 14,850

RELATED-PARTY TRANSACTIONS - Lo

RELATED-PARTY TRANSACTIONS - Loans To/ From Affiliates (Details)		3 Months Ended		9 Months Ended		12 Months Ended
	Oct. 01, 2019 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	May 07, 2021 USD ($) vote
Related Party Transaction [Line Items]
Incentive income earned from unconsolidated funds		$ 140,320,000	$ 112,449,000	$ 550,379,000	$ 343,698,000
Oaktree Capital Group Excluding Consolidated Funds
Related Party Transaction [Line Items]
Due from affiliates		227,000		227,000		$ 232,485,000
Affiliates \| Equity Method Investment, Nonconsolidated Investee or Group of Investees
Related Party Transaction [Line Items]
Incentive income earned from unconsolidated funds		0	2,100,000	117,500,000	61,500,000
Administrative Service
Related Party Transaction [Line Items]
Reimbursable expenses payable	$ 750,000
Termination period (in days)	90 days
Administrative Service \| Affiliates
Related Party Transaction [Line Items]
Administrative expenses		$ 200,000	200,000	$ 600,000	600,000
Revolving Credit Facility \| Credit Agreement \| Revolving Line Of Credit Note With Oaktree Capital Management L.P. \| Affiliates \| Oaktree Capital Management, L.P.
Related Party Transaction [Line Items]
Due from affiliates						26,000,000
Oaktree Capital Management, L.P. \| Revolving Credit Facility \| Credit Agreement \| Revolving Line Of Credit Note With Oaktree Capital Management L.P. \| Affiliates \| Oaktree Capital I
Related Party Transaction [Line Items]
Number of debt instruments \| vote							2
Credit facility							$ 250,000,000
Proceeds from related party debt						$ 48,000,000
Interest expense			136,700		305,700
Oaktree Capital Management, L.P. \| Revolving Credit Facility \| Credit Agreement \| Revolving Line Of Credit Note With Oaktree Capital Management L.P. \| Affiliates \| Oaktree Capital Management, L.P.
Related Party Transaction [Line Items]
Interest income			$ 201,200		$ 201,200

RELATED-PARTY TRANSACTIONS - Su

RELATED-PARTY TRANSACTIONS - Subordinated Credit Facility (Details) - Revolving Credit Facility - Subordinated Credit Facility - Credit Agreement - Related Party - USD ($) $ in Millions	Oct. 06, 2023	Sep. 30, 2024
Related Party Transaction [Line Items]
Credit facility		$ 250
Maturity extension, term (in years)	1 year
Secured Overnight Financing Rate (SOFR)
Related Party Transaction [Line Items]
Spread on variable rate (percent)	1.60%
Base Rate
Related Party Transaction [Line Items]
Spread on variable rate (percent)	0.50%

RELATED-PARTY TRANSACTIONS - In

RELATED-PARTY TRANSACTIONS - Investments in Oaktree (Details) - Related Party - USD ($)					9 Months Ended
	Jul. 31, 2023	Jun. 29, 2023	Jun. 27, 2023	May 22, 2023	Sep. 30, 2024
Non-Traded REIT Acquisition \| OCG Non-Traded REIT Holdings, LLC
Related Party Transaction [Line Items]
Business acquisition, voting interests acquired (in percent)			100%
Non-Traded REIT Acquisition \| Brookfield Corporate Treasury Ltd. (“Treasury”)
Related Party Transaction [Line Items]
Capital commitment		$ 200,000,000
Oaktree Opportunities Fund XI, L.P. \| Investment In Oaktree Opportunities Fund XI
Related Party Transaction [Line Items]
Capital commitment					$ 750,000,000
Funding made towards acquiring investment					0
Capital commitment funded					637,500,000
Oaktree Opportunities Fund XII, L.P. \| Investment in Oaktreet Opportunities Fund XII
Related Party Transaction [Line Items]
Capital commitment				$ 750,000,000	750,000,000
Funding made towards acquiring investment					37,500,000
Capital commitment funded					37,500,000
OCG Non-Traded REIT Holdings, LLC \| Non-Traded REIT Acquisition
Related Party Transaction [Line Items]
Funding made towards acquiring investment	$ 13,900,000		$ 307,000,000
Corporate investments					304,300,000
Opps XI \| SPV Credit Facility I \| BOH
Related Party Transaction [Line Items]
Corporate investments					149,700,000
Opps XI \| SPV Credit Facility II \| BOH
Related Party Transaction [Line Items]
Corporate investments					$ 256,300,000

SEGMENT REPORTING (Details)

SEGMENT REPORTING (Details)	9 Months Ended
SEGMENT REPORTING (Details)	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	1

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event - $ / shares	Nov. 08, 2024	Nov. 11, 2024
Class A Units
Class of Stock [Line Items]
Class A unit dividends declared (in dollars per share)	$ 0.79
Series A Preferred Units
Class of Stock [Line Items]
Distributions declared per preferred unit (in dollars per share)		$ 0.414063
Series B Preferred Units
Class of Stock [Line Items]
Distributions declared per preferred unit (in dollars per share)		$ 0.409375