0001403528-23-000055 | 10-Q | XBRL Viewer | Oaktree Capital Group LLC

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS (Tables)

6 Months Ended

Jun. 30, 2023

Non-Controlling Redeemable Interests in Consolidated Funds [Abstract]

Summary 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.


	Six months ended June 30,
	2023		2022

Beginning balance	$	2,182,414	$	1,723,294
Deconsolidation of funds	—		(247,270)
Contributions	1,107,488		547,100
Distributions	(62,768)		(132,979)

Net income	88,305		66,850
Change in distributions payable	(317)		(15)
Foreign currency translation and other, net	816		(1,272)
Ending balance	$	3,315,938	$	1,955,708

DERIVATIVES AND HEDGING

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES AND HEDGING

The fair value of freestanding derivatives consisted of the following:


	Assets				Liabilities
	Notional		Fair Value		Notional		Fair Value
As of June 30, 2023
Foreign-currency forward contracts	$	214,714	$	1,898	$	(226,633)	$	(2,137)



As of December 31, 2022
Foreign-currency forward contracts	$	221,836	$	13,340	$	(200,319)	$	(11,840)

Realized and unrealized gains and losses arising from freestanding derivatives were recorded in the condensed consolidated statements of operations as follows:


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022

Investment income	$	(34)	$	64	$	(2,609)	$	1,448
General and administrative expense (1)	—		302		—		1,290
Total	$	(34)	$	366	$	(2,609)	$	2,738

(1) To the extent that the Company’s freestanding derivatives are utilized to hedge its foreign-currency exposure to investment income and management fees 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 June 30, 2023 and December 31, 2022.

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 June 30, 2023
Foreign-currency forward contracts	$	513,197	$	2,189	$	(71,676)	$	(19,486)
Total-return and interest-rate and credit default swaps	80,441		6,130		(42,665)		(328)
Options and futures	161,334		797		(4,491)		(1,428)

Total	$	754,972	$	9,116	$	(118,832)	$	(21,242)

As of December 31, 2022
Foreign-currency forward contracts	$	427,141	$	9,758	$	(52,531)	$	(16,356)
Total-return and interest-rate and credit default swaps	12,604		700		(3,182)		(7,666)
Options and futures	378,042		279		(125,283)		—

Total	$	817,787	$	10,737	$	(180,996)	$	(24,022)

The impact of derivatives held by the consolidated funds in the condensed consolidated statements of operations was as follows:


	Three months ended June 30,
	2023				2022
	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	$	93	$	(6,596)	$	14,133	$	9,494
Total-return and interest-rate and credit default swaps	122		468		4,266		32,939
Options and futures	640		1,134		4,108		(2,088)
Commodity swaps	2,638		(1,815)		(15,735)		(30,428)
Total	$	3,493	$	(6,809)	$	6,772	$	9,917


	Six months ended June 30,
	2023				2022
	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	$	(1,521)	$	(10,580)	$	15,089	$	12,422
Total-return and interest-rate and credit default swaps	117		456		282		106
Options and futures	1,072		736		10,081		(105)
Commodity swaps	5,246		13,355		(15,735)		(29,570)
Total	$	4,914	$	3,967	$	9,717	$	(17,147)

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 June 30, 2023			Derivative Assets (Liabilities)		Cash Collateral Received (Pledged)
Derivative Assets:
Foreign-currency forward contracts	$	1,898	$	115	$	—	$	1,783
Derivative assets of consolidated funds:



Foreign-currency forward contracts	2,189		—		—		2,189
Total-return and interest-rate and credit default swaps	6,130		—		—		6,130
Options and futures	797		—		—		797
Subtotal	9,116		—		—		9,116
Total	$	11,014	$	115	$	—	$	10,899

Derivative Liabilities:
Foreign-currency forward contracts	$	(2,137)	$	(115)	$	—	$	(2,022)
Derivative liabilities of consolidated funds:
Foreign-currency forward contracts	(19,486)		—		—		(19,486)
Total-return and interest-rate and credit default swaps	(328)		—		—		(328)
Options and futures	(1,428)		—		—		(1,428)

Subtotal	(21,242)		—		—		(21,242)
Total	$	(23,379)	$	(115)	$	—	$	(23,264)


	Gross Amounts of Assets (Liabilities) Presented		Gross Amounts Not Offset in Statements of Financial Condition				Net Amount
As of December 31, 2022			Derivative Assets (Liabilities)		Cash Collateral Received (Pledged)
Derivative Assets:
Foreign-currency forward contracts	$	13,340	$	1,279	$	—	$	12,061


Derivative assets of consolidated funds:
Foreign-currency forward contracts	9,758		—		—		9,758
Total-return and interest-rate and credit default swaps	700		—		—		700
Options and futures	279		—		—		279
Subtotal	10,737		—		—		10,737
Total	$	24,077	$	1,279	$	—	$	22,798

Derivative Liabilities:
Foreign-currency forward contracts	$	(11,840)	$	(1,279)	$	—	$	(10,561)
Derivative liabilities of consolidated funds:
Foreign-currency forward contracts	(16,356)		—		—		(16,356)
Total-return and interest-rate and credit default swaps	(7,666)		—		—		(7,666)
Options and futures	—		—				—
Subtotal	(24,022)		—		—		(24,022)
Total	$	(35,862)	$	(1,279)	$	—	$	(34,583)

RELATED-PARTY TRANSACTIONS - Amounts Due from and Due to Affiliates (Details) - Related Party - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Due from affiliates:
Due from affiliates	$ 35,086	$ 207,874
Due to affiliates:
Accounts payable, accrued expenses and other liabilities	77,411	36,164
Management fees and incentive income due from unconsolidated funds and affiliates
Due from affiliates:
Due from affiliates	120	203,178
Receivable from unconsolidated entities
Due from affiliates:
Due from affiliates	34,966	4,696
Amounts due to unconsolidated entities
Due to affiliates:
Accounts payable, accrued expenses and other liabilities	$ 77,411	$ 36,164

Condensed Consolidated Statements of Changes in Unitholders' Capital (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning of period	$ 2,106,895	$ 2,240,278	$ 1,906,638	$ 2,272,602
Capital contributions	419,500		569,500	112,500
Repurchase and cancellation of units	0
Equity reallocation between controlling and non-controlling interests	(600)	(682)	(1,086)	(1,971)
Capital increase related to equity-based compensation		1,952		3,450
Distributions declared	(122,113)	(33,485)	(136,792)	(192,605)
Net income	(13,461)	(27,678)	51,997	(12,998)
Foreign currency translation adjustment, net of tax	(1,498)	9,389	(1,534)	8,796
Unitholders' capital, end of period	2,388,723	2,189,774	2,388,723	2,189,774
Paid-in Capital
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning of period	1,055,871	1,139,037	908,142	1,011,333
Capital contributions	419,500		569,500	112,500
Repurchase and cancellation of units	0
Equity reallocation between controlling and non-controlling interests	37,353	33,309	35,082	47,584
Capital increase related to equity-based compensation		1,211		2,140
Unitholders' capital, end of period	1,512,724	1,173,557	1,512,724	1,173,557
Retained Earnings (Accumulated Deficit)
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning of period	283,706	166,053	246,353	251,791
Distributions declared	(77,154)	(16,543)	(78,730)	(113,134)
Net income	(6,335)	(21,356)	32,594	(10,503)
Unitholders' capital, end of period	200,217	128,154	200,217	128,154
Accumulated Other Comprehensive Income (Loss)
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning of period	(9,123)	(3,701)	(9,101)	(3,334)
Foreign currency translation adjustment, net of tax	(986)	5,827	(1,008)	5,460
Unitholders' capital, end of period	(10,109)	2,126	(10,109)	2,126
Non-controlling Interests in Consolidated Subsidiaries
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning of period	375,857	538,305	360,660	612,228
Capital contributions				0
Repurchase and cancellation of units	0
Equity reallocation between controlling and non-controlling interests	(37,953)	(33,991)	(36,168)	(49,555)
Capital increase related to equity-based compensation		741		1,310
Distributions declared	(38,130)	(10,113)	(44,404)	(65,813)
Net income	(13,955)	(13,151)	5,745	(16,153)
Foreign currency translation adjustment, net of tax	(512)	3,562	(526)	3,336
Unitholders' capital, end of period	$ 285,307	$ 485,353	$ 285,307	$ 485,353
Class A Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning of period (in shares)			103,080,160
Unitholders' capital, end of period (in shares)	109,198,991		109,198,991
Class A Units \| Common Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning of period (in shares)	103,081,000	99,137,000	103,081,000	99,137,000
Unit exchange (in shares)	6,118,000	3,943,000	6,118,000	3,943,000
Repurchase and cancellation of units (in shares)	0
Unitholders' capital, end of period (in shares)	109,199,000	103,080,000	109,199,000	103,080,000
Class B Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning of period (in shares)			56,922,688
Unitholders' capital, end of period (in shares)	50,916,930		50,916,930
Class B Units \| Common Units
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning of period (in shares)	57,035,000	60,779,000	56,922,000	60,783,000
Net issuance of units (in shares)			122,000	3,000
Unit exchange (in shares)	(6,118,000)	(3,943,000)	(6,118,000)	(3,943,000)
Cancellation of units associated with forfeitures (in shares)		(14,000)	(9,000)	(21,000)
Repurchase and cancellation of units (in shares)	0
Unitholders' capital, end of period (in shares)	50,917,000	56,822,000	50,917,000	56,822,000
Series A Preferred Units \| Equities – Preferred Stock
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning of period	$ 173,669	$ 173,669	$ 173,669	$ 173,669
Distributions declared	(2,981)	(2,981)	(5,962)	(5,962)
Net income	2,981	2,981	5,962	5,962
Unitholders' capital, end of period	173,669	173,669	173,669	173,669
Series B Preferred Units \| Equities – Preferred Stock
Increase (decrease) in Stockholders' Equity:
Unitholders' capital, beginning of period	226,915	226,915	226,915	226,915
Distributions declared	(3,848)	(3,848)	(7,696)	(7,696)
Net income	3,848	3,848	7,696	7,696
Unitholders' capital, end of period	$ 226,915	$ 226,915	$ 226,915	$ 226,915

DERIVATIVES AND HEDGING - Impact of Derivatives Held by Consolidated Funds on Income (Details) - Not Designated as Hedging Instrument - Consolidated Funds - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	$ 3,493	$ 6,772	$ 4,914	$ 9,717
Net Change in Unrealized Appreciation (Depreciation) on Investments	(6,809)	9,917	3,967	(17,147)
Foreign-currency forward contracts
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	93	14,133	(1,521)	15,089
Net Change in Unrealized Appreciation (Depreciation) on Investments	(6,596)	9,494	(10,580)	12,422
Total-return and interest-rate and credit default swaps
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	122	4,266	117	282
Net Change in Unrealized Appreciation (Depreciation) on Investments	468	32,939	456	106
Options and futures
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	640	4,108	1,072	10,081
Net Change in Unrealized Appreciation (Depreciation) on Investments	1,134	(2,088)	736	(105)
Commodity swaps
Derivatives, Fair Value [Line Items]
Net Realized Gain (Loss) on Investments	2,638	(15,735)	5,246	(15,735)
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ (1,815)	$ (30,428)	$ 13,355	$ (29,570)

- Definition

The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.

+ References + Details

INVESTMENTS - Investment Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Equity Method Investments [Line Items]
Equity-method investments:	$ 256,988	$ (359,425)	$ 1,371,440	$ 1,192,699
Total investment income (loss)	(41,841)	(30,674)	9,881	(18,933)
Corporate Segment
Schedule of Equity Method Investments [Line Items]
Other investments, at fair value	(30,611)	4,507	(5,008)	2,641
Total investment income (loss)	(41,841)	(30,674)	9,881	(18,933)
Funds \| Corporate Segment
Schedule of Equity Method Investments [Line Items]
Equity-method investments:	(11,230)	(34,591)	14,892	(20,338)
Companies \| Corporate Segment
Schedule of Equity Method Investments [Line Items]
Equity-method investments:	$ 0	$ (590)	$ (3)	$ (1,236)

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Contingencies And Commitments [Line Items]
Accrued incentives (fund level)	$ 1,725,372	$ 1,800,000
Compensation expense related to accrued incentives (fund level)	672,169	950,300
Capital commitments	415,600	$ 275,400
Oaktree Opportunities Fund XI, L.P.
Contingencies And Commitments [Line Items]
Capital commitments	112,500
Oaktree Opportunities Fund XII, L.P.
Contingencies And Commitments [Line Items]
Capital commitments	$ 750,000

DEBT OBLIGATIONS AND CREDIT FACILITIES - Debt Obligations (Details) - USD ($)	Jun. 30, 2023	Dec. 31, 2022
Senior secured notes
Debt Instrument [Line Items]
Total remaining principal	$ 217,770,000	$ 213,450,000
Oaktree Capital Group Excluding Consolidated Funds
Debt Instrument [Line Items]
Total remaining principal	1,050,000,000	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
Stated percentage	3.91%
Total remaining principal	$ 50,000,000	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
Stated percentage	4.01%
Total remaining principal	$ 100,000,000	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
Stated percentage	4.21%
Total remaining principal	$ 100,000,000	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
Stated percentage	3.69%
Total remaining principal	$ 100,000,000	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
Stated percentage	3.78%
Total remaining principal	$ 250,000,000	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
Stated percentage	3.64%
Total remaining principal	$ 200,000,000	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
Stated percentage	3.84%
Total remaining principal	$ 50,000,000	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
Stated percentage	3.06%
Total remaining principal	$ 200,000,000	$ 200,000,000

UNITHOLDERS' CAPITAL (Tables)

6 Months Ended

Jun. 30, 2023

Stockholders' Equity Note [Abstract]

Schedule of Net Income (Loss)

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 June 30,				Six months ended June 30,
	2023		2022		2023		2022
Weighted average Oaktree Capital I units outstanding (in thousands):
OCGH & other non-controlling interests	55,107		60,676		57,950		60,727
Class A unitholders	105,009		99,231		102,139		99,184
Total weighted average units outstanding	160,116		159,907		160,089		159,911

Oaktree Capital I net income (loss):
Net income attributable to preferred unitholders (1)	$	6,829	$	6,829	$	13,658	$	13,658
Net income (loss) attributable to OCGH and other non-controlling interests	(13,955)		(13,151)		5,745		(16,153)
Net income (loss) attributable to OCG Class A unitholders	(22,874)		(17,812)		8,515		(25,661)
Oaktree Capital I net income (loss)	$	(30,000)	$	(24,134)	$	27,918	$	(28,156)
Net income (loss) attributable to OCG Class A unitholders:
Oaktree Capital I net income (loss) attributable to OCG Class A unitholders	$	(22,874)	$	(17,812)	$	8,515	$	(25,661)
Non-Operating Group income (expense)	16,539		(3,544)		24,079		15,158

Net income (loss) attributable to OCG Class A unitholders	$	(6,335)	$	(21,356)	$	32,594	$	(10,503)

(1) Represents distributions declared, if any, on the preferred units.

Schedule of Changes in Company Ownership Interest

The change in the Company’s ownership interest in the Oaktree Capital I is set forth below:


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022

Net income (loss) attributable to OCG Class A unitholders	$	(6,335)	$	(21,356)	$	32,594	$	(10,503)
Equity reallocation between controlling and non-controlling interests	37,353		33,309		35,082		47,584
Change from net income (loss) attributable to OCG Class A unitholders and transfers from non-controlling interests	$	31,018	$	11,953	$	67,676	$	37,081

SEGMENT REPORTING (Details)	6 Months Ended
SEGMENT REPORTING (Details)	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of segments	1

REVENUES - Revenues Disaggregated by Fund Structure (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 2,072	$ 116,583	$ 61,473	$ 179,613
Management Fees
Disaggregation of Revenue [Line Items]
Revenues	0	63,079	0	123,510
Closed-end
Disaggregation of Revenue [Line Items]
Revenues	0	1,462	0	2,844
Open-end
Disaggregation of Revenue [Line Items]
Revenues	0	1,339	0	2,709
Sub-advisory fees
Disaggregation of Revenue [Line Items]
Revenues	0	60,278	0	117,957
Incentive income
Disaggregation of Revenue [Line Items]
Revenues	2,072	53,504	61,473	56,103
Closed-end
Disaggregation of Revenue [Line Items]
Revenues	1,864	53,345	60,963	55,600
Evergreen
Disaggregation of Revenue [Line Items]
Revenues	$ 208	$ 159	$ 510	$ 503

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

SUBSEQUENT EVENTS (Details) - $ / shares	Sep. 15, 2023	Aug. 10, 2023
Forecast \| Series A Preferred Units
Class of Stock [Line Items]
Distributions declared per preferred unit (in dollars per share)	$ 0.414063
Forecast \| Series B Preferred Units
Class of Stock [Line Items]
Distributions declared per preferred unit (in dollars per share)	$ 0.409375
Subsequent Event \| Class A Units
Class of Stock [Line Items]
Class A unit dividends declared (in dollars per share)		$ 0.09

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483014/272-10-45-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482987/272-10-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(28))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3

+ Details

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS

6 Months Ended

Jun. 30, 2023

Non-Controlling Redeemable Interests in Consolidated Funds [Abstract]

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDSThe 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.


	Six months ended June 30,
	2023		2022

Beginning balance	$	2,182,414	$	1,723,294
Deconsolidation of funds	—		(247,270)
Contributions	1,107,488		547,100
Distributions	(62,768)		(132,979)

Net income	88,305		66,850
Change in distributions payable	(317)		(15)
Foreign currency translation and other, net	816		(1,272)
Ending balance	$	3,315,938	$	1,955,708

DEBT OBLIGATIONS AND CREDIT FACILITIES - Additional Information (Details) € in Millions						6 Months Ended
	Dec. 15, 2022	Jun. 08, 2022 EUR (€)	Jan. 12, 2022 USD ($)	Jul. 22, 2020 USD ($)	May 19, 2020 USD ($)	Jun. 30, 2023 USD ($)	Apr. 07, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 04, 2021 USD ($)	Sep. 23, 2021 USD ($)	Sep. 14, 2021 USD ($)	May 20, 2020 USD ($)
Oaktree Capital Group Excluding Consolidated Funds
Debt Instrument [Line Items]
Total remaining principal						$ 1,050,000,000			$ 1,050,000,000
Consolidated Funds
Debt Instrument [Line Items]
Borrowings under credit facilities						310,454,000			1,000,859,000
Revolving credit facility
Debt Instrument [Line Items]
Borrowings under credit facilities						0
Senior variable rate notes
Debt Instrument [Line Items]
Proceeds from senior unsecured notes \| €		€ 200
Total remaining principal						$ 217,770,000			213,450,000
Senior variable rate notes \| Senior Unsecured Notes Due 2037
Debt Instrument [Line Items]
Face amount										$ 200,000,000
Senior Unsecured Notes
Debt Instrument [Line Items]
Stated percentage													3.68%
Proceeds from senior unsecured notes				$ 250,000,000
Credit facility							$ 650,000,000						$ 250,000,000
Senior unsecured notes purchase commitment					$ 250,000,000
Senior Unsecured Notes \| Senior Unsecured Notes Due 2037
Debt Instrument [Line Items]
Stated percentage										3.06%
Proceeds from senior unsecured notes			$ 200,000,000
Credit Agreement \| Consolidated Funds \| Maximum
Debt Instrument [Line Items]
Term (up to)						10 years
Credit Agreement \| Revolving credit facility \| Oaktree Capital Group Excluding Consolidated Funds \| SOFR
Debt Instrument [Line Items]
Spread on variable rate						1.10%
L/C Fee						0.10%
Credit Agreement \| Revolving credit facility \| Consolidated Funds
Debt Instrument [Line Items]
Credit facility						$ 1,162,742,000
L/C Fee						1.52%
Total remaining principal						$ 310,454,000			$ 1,000,859,000
Credit Agreement \| Term Loan \| Oaktree Capital Group Excluding Consolidated Funds
Debt Instrument [Line Items]
Assets under management, carrying amount											$ 65,000,000,000	$ 57,500,000,000
Leverage ratio, maximum												4.00
Additional years	2 years
Credit Agreement \| Term Loan \| Oaktree Capital Group Excluding Consolidated Funds \| SOFR
Debt Instrument [Line Items]
Borrowings under credit facilities								$ 0

SEGMENT REPORTING	6 Months Ended
SEGMENT REPORTING	Jun. 30, 2023
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTINGManagement uses a consolidated approach to assess performance and allocate resources. As such, the Company’s business is comprised of one segment, the investment management business.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

VARIABLE INTEREST ENTITIES

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

VARIABLE INTEREST ENTITIES

The Company consolidates VIEs for which it 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.

As a result of the 2022 Restructuring, which constitutes a reconsideration event, the Company re-assessed the primary beneficiary determination and concluded that it was no longer the primary beneficiary for CLOs as their direct ownership interests are held by operating group entities no longer controlled by the Company.

Consolidated VIEs

As of June 30, 2023, the Company consolidated 9 VIEs that are funds managed by Oaktree for which it was the primary beneficiary. As of December 31, 2022, the Company consolidated 9 VIEs.

As of June 30, 2023, the assets and liabilities of the 9 consolidated VIEs amounted to $4.9 billion and $0.4 billion, respectively. The assets of these consolidated VIEs primarily consisted of investments in debt and equity securities. 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 June 30, 2023, the Company’s investments in consolidated VIEs had a carrying value of $1.1 billion, which represented its maximum risk of loss as of that date.

Unconsolidated VIEs

The Company holds variable interests in certain VIEs in the form of direct equity interests that are not consolidated. It is not the primary beneficiary, because its 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
	June 30, 2023		December 31, 2022

Corporate investments	$	995,401	$	976,569
Due from affiliates	84		200,498
Maximum exposure to loss	$	995,485	$	1,177,067

FAIR VALUE - Consolidated Funds Valuation of Investments and Other Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	$ 11,014	$ 24,077
Derivative liabilities	(23,379)	(35,862)
Consolidated Funds
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	4,527,442	3,908,613
Total derivatives	9,116	10,737
Derivative liabilities	(21,242)	(24,022)
Consolidated Funds \| Options and futures
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	797	279
Derivative liabilities	(1,428)
Consolidated Funds \| Level III
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	2,956,992	2,390,273
Consolidated Funds \| Fair Value, Measurements, Recurring
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	4,527,442	3,908,613
Total derivatives	9,116	10,737
Total assets	4,536,558	3,919,350
Derivative liabilities	(21,242)	(24,022)
Total liabilities	(21,242)	(24,022)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Foreign-currency forward contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	2,189	9,758
Derivative liabilities	(19,486)	(16,356)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Swaps
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	6,130	700
Derivative liabilities	(328)	(7,666)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Options and futures
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	797	279
Derivative liabilities	(1,428)	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Corporate debt – bank debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	1,722,409	1,114,494
Consolidated Funds \| Fair Value, Measurements, Recurring \| Corporate debt – all other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	1,050,358	984,344
Consolidated Funds \| Fair Value, Measurements, Recurring \| Equities – common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	1,046,176	1,038,449
Consolidated Funds \| Fair Value, Measurements, Recurring \| Equities – preferred stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	619,824	696,855
Consolidated Funds \| Fair Value, Measurements, Recurring \| Real estate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	88,675	74,471
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	207,274	307,113
Total derivatives	6,340	279
Total assets	213,614	307,392
Derivative liabilities	(1,428)	(7,666)
Total liabilities	(1,428)	(7,666)
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
Derivative liabilities	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Swaps
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	5,543	0
Derivative liabilities	0	(7,666)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Options and futures
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	797	279
Derivative liabilities	(1,428)	0
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	206,134	226,862
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Equities – preferred stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	1,140	80,251
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	1,363,176	1,211,227
Total derivatives	2,776	10,458
Total assets	1,365,952	1,221,685
Derivative liabilities	(19,814)	(16,356)
Total liabilities	(19,814)	(16,356)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Foreign-currency forward contracts
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	2,189	9,758
Derivative liabilities	(19,486)	(16,356)
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Swaps
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	587	700
Derivative liabilities	(328)	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
Derivative liabilities	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	459,775	411,997
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Corporate debt – all other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	873,035	764,841
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Equities – common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	30,366	34,389
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	2,956,992	2,390,273
Total derivatives	0	0
Total assets	2,956,992	2,390,273
Derivative liabilities	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
Derivative liabilities	0	0
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Swaps
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total derivatives	0	0
Derivative liabilities	0	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
Derivative liabilities	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	1,262,634	702,497
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Corporate debt – all other
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	177,323	219,503
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Equities – common stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	809,676	777,198
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Equities – preferred stock
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	618,684	616,604
Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Real estate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Total investments	$ 88,675	$ 74,471

UNITHOLDERS' CAPITAL - Summary of Net Income (Loss) (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Weighted average Oaktree Capital I units outstanding (in thousands):
Total weighted average units outstanding, diluted (in shares)	160,116	159,907	160,089	159,911
Oaktree Capital I net income (loss):
Oaktree Capital I net income (loss)	$ 47,110	$ (59,771)	$ 140,302	$ 53,852
Net income (loss) attributable to OCG Class A unitholders:
Oaktree Capital I net income (loss) attributable to OCG Class A unitholders	(22,874)	(17,812)	8,515	(25,661)
Non-Operating Group income (expense)	16,539	(3,544)	24,079	15,158
Net income (loss) attributable to Oaktree Capital Group, LLC Class A unitholders	$ (6,335)	$ (21,356)	$ 32,594	$ (10,503)
Oaktree Operating Group
Weighted average Oaktree Capital I units outstanding (in thousands):
Total weighted average units outstanding, basic (in shares)	160,116	159,907	160,089	159,911
Oaktree Capital I net income (loss):
Oaktree Capital I net income (loss)	$ (30,000)	$ (24,134)	$ 27,918	$ (28,156)
OCGH Units \| Oaktree Operating Group
Weighted average Oaktree Capital I units outstanding (in thousands):
Total weighted average units outstanding, basic (in shares)	55,107	60,676	57,950	60,727
Total weighted average units outstanding, diluted (in shares)	55,107	60,676	57,950	60,727
Oaktree Capital I net income (loss):
Oaktree Capital I net income (loss)	$ (13,955)	$ (13,151)	$ 5,745	$ (16,153)
Class A Units
Weighted average Oaktree Capital I units outstanding (in thousands):
Total weighted average units outstanding, basic (in shares)	108,796	102,820	105,954	100,989
Total weighted average units outstanding, diluted (in shares)	108,796	102,820	105,954	100,989
Net income (loss) attributable to OCG Class A unitholders:
Net income (loss) attributable to Oaktree Capital Group, LLC Class A unitholders	$ (6,335)	$ (21,356)	$ 32,594	$ (10,503)
Class A Units \| Oaktree Operating Group
Weighted average Oaktree Capital I units outstanding (in thousands):
Total weighted average units outstanding, basic (in shares)	105,009	99,231	102,139	99,184
Total weighted average units outstanding, diluted (in shares)	105,009	99,231	102,139	99,184
Oaktree Capital I net income (loss):
Oaktree Capital I net income (loss)	$ (22,874)	$ (17,812)	$ 8,515	$ (25,661)
Series A Preferred Units \| Oaktree Operating Group
Oaktree Capital I net income (loss):
Oaktree Capital I net income (loss)	$ 6,829	$ 6,829	$ 13,658	$ 13,658

INVESTMENTS - Net Gains (Losses) from Investment Activities of Consolidated Funds (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	$ 30,701	$ 16,126	$ 62,381	$ (73,099)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(12,789)	(155,352)	(37,971)	(26,993)
Consolidated Funds \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	30,701	16,126	62,381	(73,099)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(12,789)	(155,352)	(37,971)	(26,993)
Consolidated Funds \| Investments and other financial instruments \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	27,208	21,673	57,467	(68,382)
Net Change in Unrealized Appreciation (Depreciation) on Investments	(5,980)	(124,313)	(41,938)	76,954
Consolidated Funds \| CLO liabilities \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	0	(12,319)	0	(14,434)
Net Change in Unrealized Appreciation (Depreciation) on Investments	0	(40,956)	0	(86,800)
Consolidated Funds \| Foreign-currency forward contracts \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	93	14,133	(1,521)	15,089
Net Change in Unrealized Appreciation (Depreciation) on Investments	(6,596)	9,494	(10,580)	12,422
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	122	4,266	117	282
Net Change in Unrealized Appreciation (Depreciation) on Investments	468	32,939	456	106
Consolidated Funds \| Options and futures \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	640	4,108	1,072	10,081
Net Change in Unrealized Appreciation (Depreciation) on Investments	1,134	(2,088)	736	(105)
Consolidated Funds \| Commodity swaps \| Not Designated as Hedging Instrument
Gain (Loss) on Securities [Line Items]
Net Realized Gain (Loss) on Investments	2,638	(15,735)	5,246	(15,735)
Net Change in Unrealized Appreciation (Depreciation) on Investments	$ (1,815)	$ (30,428)	$ 13,355	$ (29,570)

REVENUES

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

REVENUES

Prior to the 2022 Restructuring, the Company provided investment management services to funds and separate accounts. The Company earned revenues from the management fees generated by the funds that it managed and earns incentive income generated by the funds, for which it serves as general partner. Additionally, for acting as a sub-investment manager, or sub-advisor, to certain Oaktree funds, the Company earned sub-advisory fees. Under certain subsidiary services agreements the Company provided certain investment and marketing related services to Oaktree affiliated entities. Revenues are affected by economic factors related to the asset class composition of the holdings and the contractual terms such as the basis for calculating the management fees and investors’ ability to redeem. As a result of the 2022 Restructuring, management fees and sub-advisory fees are no longer earned by the Company due to the deconsolidation of OCM Cayman. Revenues by fund structure and sub-advisory fees are set forth below.


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Management Fees
Closed-end	$	—	$	1,462	$	—	$	2,844
Open-end	—		1,339		—		2,709

Sub-advisory fees	—		60,278		—		117,957
Total	$	—	$	63,079	$	—	$	123,510

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Incentive Income
Closed-end	$	1,864	$	53,345	$	60,963	$	55,600
Evergreen	208		159		510		503
Total	$	2,072	$	53,504	$	61,473	$	56,103

Contract Balances

Prior to the 2022 Restructuring the Company received management fees monthly or quarterly 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.

The table below sets forth contract balances for the periods indicated:


	As of
	June 30, 2023		December 31, 2022

Receivables	$	120	$	8,471
Contract assets (1)	—		194,707

(1) The changes in the balances primarily relate to accruals, net of payments received.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

DERIVATIVES AND HEDGING - Fair Value of Freestanding Derivatives (Details) - Not Designated as Hedging Instrument - Oaktree Capital Group Excluding Consolidated Funds - Foreign-currency forward contracts - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Notional	$ 214,714	$ 221,836
Fair Value	1,898	13,340
Liabilities
Notional	(226,633)	(200,319)
Fair Value	$ (2,137)	$ (11,840)

- Definition

Nominal or face amount used to calculate payments on the derivative asset.

+ References + Details

- Definition

Nominal or face amount used to calculate payments on the derivative liability.

+ References + Details

DERIVATIVES AND HEDGING (Tables)

6 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Foreign Exchange Contracts, Statement of Financial Position

The fair value of freestanding derivatives consisted of the following:


	Assets				Liabilities
	Notional		Fair Value		Notional		Fair Value
As of June 30, 2023
Foreign-currency forward contracts	$	214,714	$	1,898	$	(226,633)	$	(2,137)



As of December 31, 2022
Foreign-currency forward contracts	$	221,836	$	13,340	$	(200,319)	$	(11,840)

Schedule of Impact of Derivative Instruments on Condensed Consolidated Statement of Operations

Realized and unrealized gains and losses arising from freestanding derivatives were recorded in the condensed consolidated statements of operations as follows:


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022

Investment income	$	(34)	$	64	$	(2,609)	$	1,448
General and administrative expense (1)	—		302		—		1,290
Total	$	(34)	$	366	$	(2,609)	$	2,738

The impact of derivatives held by the consolidated funds in the condensed consolidated statements of operations was as follows:


	Three months ended June 30,
	2023				2022
	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	$	93	$	(6,596)	$	14,133	$	9,494
Total-return and interest-rate and credit default swaps	122		468		4,266		32,939
Options and futures	640		1,134		4,108		(2,088)
Commodity swaps	2,638		(1,815)		(15,735)		(30,428)
Total	$	3,493	$	(6,809)	$	6,772	$	9,917


	Six months ended June 30,
	2023				2022
	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	$	(1,521)	$	(10,580)	$	15,089	$	12,422
Total-return and interest-rate and credit default swaps	117		456		282		106
Options and futures	1,072		736		10,081		(105)
Commodity swaps	5,246		13,355		(15,735)		(29,570)
Total	$	4,914	$	3,967	$	9,717	$	(17,147)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivatives held by the consolidated funds consisted of the following:


	Assets				Liabilities
	Notional		Fair Value		Notional		Fair Value
As of June 30, 2023
Foreign-currency forward contracts	$	513,197	$	2,189	$	(71,676)	$	(19,486)
Total-return and interest-rate and credit default swaps	80,441		6,130		(42,665)		(328)
Options and futures	161,334		797		(4,491)		(1,428)

Total	$	754,972	$	9,116	$	(118,832)	$	(21,242)

As of December 31, 2022
Foreign-currency forward contracts	$	427,141	$	9,758	$	(52,531)	$	(16,356)
Total-return and interest-rate and credit default swaps	12,604		700		(3,182)		(7,666)
Options and futures	378,042		279		(125,283)		—

Total	$	817,787	$	10,737	$	(180,996)	$	(24,022)

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 June 30, 2023			Derivative Assets (Liabilities)		Cash Collateral Received (Pledged)
Derivative Assets:
Foreign-currency forward contracts	$	1,898	$	115	$	—	$	1,783
Derivative assets of consolidated funds:



Foreign-currency forward contracts	2,189		—		—		2,189
Total-return and interest-rate and credit default swaps	6,130		—		—		6,130
Options and futures	797		—		—		797
Subtotal	9,116		—		—		9,116
Total	$	11,014	$	115	$	—	$	10,899

Derivative Liabilities:
Foreign-currency forward contracts	$	(2,137)	$	(115)	$	—	$	(2,022)
Derivative liabilities of consolidated funds:
Foreign-currency forward contracts	(19,486)		—		—		(19,486)
Total-return and interest-rate and credit default swaps	(328)		—		—		(328)
Options and futures	(1,428)		—		—		(1,428)

Subtotal	(21,242)		—		—		(21,242)
Total	$	(23,379)	$	(115)	$	—	$	(23,264)


	Gross Amounts of Assets (Liabilities) Presented		Gross Amounts Not Offset in Statements of Financial Condition				Net Amount
As of December 31, 2022			Derivative Assets (Liabilities)		Cash Collateral Received (Pledged)
Derivative Assets:
Foreign-currency forward contracts	$	13,340	$	1,279	$	—	$	12,061


Derivative assets of consolidated funds:
Foreign-currency forward contracts	9,758		—		—		9,758
Total-return and interest-rate and credit default swaps	700		—		—		700
Options and futures	279		—		—		279
Subtotal	10,737		—		—		10,737
Total	$	24,077	$	1,279	$	—	$	22,798

Derivative Liabilities:
Foreign-currency forward contracts	$	(11,840)	$	(1,279)	$	—	$	(10,561)
Derivative liabilities of consolidated funds:
Foreign-currency forward contracts	(16,356)		—		—		(16,356)
Total-return and interest-rate and credit default swaps	(7,666)		—		—		(7,666)
Options and futures	—		—				—
Subtotal	(24,022)		—		—		(24,022)
Total	$	(35,862)	$	(1,279)	$	—	$	(34,583)

Schedule of Balance Sheet Offsetting Liabilities


	Gross Amounts of Assets (Liabilities) Presented		Gross Amounts Not Offset in Statements of Financial Condition				Net Amount
As of June 30, 2023			Derivative Assets (Liabilities)		Cash Collateral Received (Pledged)
Derivative Assets:
Foreign-currency forward contracts	$	1,898	$	115	$	—	$	1,783
Derivative assets of consolidated funds:



Foreign-currency forward contracts	2,189		—		—		2,189
Total-return and interest-rate and credit default swaps	6,130		—		—		6,130
Options and futures	797		—		—		797
Subtotal	9,116		—		—		9,116
Total	$	11,014	$	115	$	—	$	10,899

Derivative Liabilities:
Foreign-currency forward contracts	$	(2,137)	$	(115)	$	—	$	(2,022)
Derivative liabilities of consolidated funds:
Foreign-currency forward contracts	(19,486)		—		—		(19,486)
Total-return and interest-rate and credit default swaps	(328)		—		—		(328)
Options and futures	(1,428)		—		—		(1,428)

Subtotal	(21,242)		—		—		(21,242)
Total	$	(23,379)	$	(115)	$	—	$	(23,264)


	Gross Amounts of Assets (Liabilities) Presented		Gross Amounts Not Offset in Statements of Financial Condition				Net Amount
As of December 31, 2022			Derivative Assets (Liabilities)		Cash Collateral Received (Pledged)
Derivative Assets:
Foreign-currency forward contracts	$	13,340	$	1,279	$	—	$	12,061


Derivative assets of consolidated funds:
Foreign-currency forward contracts	9,758		—		—		9,758
Total-return and interest-rate and credit default swaps	700		—		—		700
Options and futures	279		—		—		279
Subtotal	10,737		—		—		10,737
Total	$	24,077	$	1,279	$	—	$	22,798

Derivative Liabilities:
Foreign-currency forward contracts	$	(11,840)	$	(1,279)	$	—	$	(10,561)
Derivative liabilities of consolidated funds:
Foreign-currency forward contracts	(16,356)		—		—		(16,356)
Total-return and interest-rate and credit default swaps	(7,666)		—		—		(7,666)
Options and futures	—		—				—
Subtotal	(24,022)		—		—		(24,022)
Total	$	(35,862)	$	(1,279)	$	—	$	(34,583)

DEBT OBLIGATIONS AND CREDIT FACILITIES - Credit Facilities of Consolidated Funds (Details) - Credit Agreement - Consolidated VIEs - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Less: Debt issuance costs	$ (260)	$ (1,972)
Revolving credit facility
Debt Instrument [Line Items]
Outstanding amount	310,454	1,000,859
Total debt obligations, net	310,194	$ 998,887
Facility Capacity	$ 1,162,742
Effective Interest Rate	6.86%
Weighted Average Remaining Maturity (years)	1 month 17 days
Commitment Fee Rate	0.20%
L/C Fee	1.52%

ORGANIZATION AND BASIS OF PRESENTATION	6 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION	Jun. 30, 2023
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 and, where applicable, their respective subsidiaries and affiliates; and the “Company” refers to Oaktree Capital Group, LLC and, where applicable, its subsidiaries and affiliates. 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”). Commingled funds include open-end and closed-end limited partnerships in which Oaktree makes an investment and for which it serves as the general partner. CLOs are structured finance vehicles in which Oaktree typically makes an investment and for which it serves as collateral manager. Oaktree Capital Group, LLC is a Delaware limited liability company that was formed on April 13, 2007. 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 employees, and certain other investors (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 current ownership and operational structure were the results of certain mergers with affiliates of Brookfield completed on September 30, 2019 (the “Mergers”) and subsequent restructurings completed on October 1, 2019 in connection with the Mergers (the “2019 Restructuring”) and on November 30, 2022 (“Effective Date”) in connection with an internal Oaktree reorganization to facilitate the separation of Brookfield’s capital business and asset management business (the “2022 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. The Oaktree business is conducted through a group of six operating entities collectively referred to as the “Oaktree Operating Group.” The Oaktree Operating Group consists of: (i) 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 (ii) Oaktree Capital II, L.P. (“Oaktree Capital II”), a series limited partnership which acts as or controls the general partner of certain Oaktree funds and which includes Oaktree’s investments in certain funds and other businesses, including Oaktree’s investment in DoubleLine Capital, L.P., (iii) OCM, (iv) Oaktree Capital Management (Cayman), L.P. (“OCM Cayman”), which represents Oaktree’s non-U.S. fee business. (v) Oaktree Investment Holdings, L.P. (“Oaktree Investment Holdings”), which holds certain corporate investments in other entities and (vi) Oaktree AIF Investments, L.P. (“Oaktree AIF”), which primarily holds interests in certain Oaktree fund investments for regulatory and structuring purposes. From the date of the 2019 Restructuring until the date of the 2022 Restructuring, the Company’s operations were conducted through indirect economic interests in only two of these six Oaktree Operating Group entities, specifically Oaktree Capital I and OCM Cayman. As a result of the 2022 Restructuring, however, the Company (i) distributed all of its interests in the economic shares of Oaktree Holdings, Ltd., the parent entity of OCM Cayman, to its sole Class A unitholder and (ii) transferred all of its interests in the voting shares of Oaktree Holdings, Ltd. to Atlas OCM Holdings, LLC which is a non-subsidiary affiliate of the Company. Accordingly, subsequent to the 2022 Restructuring, the Company’s operations are now conducted through an indirect economic interest in only one of the Oaktree Operating Group entities, specifically Oaktree Capital I, and because the Company no longer controls or has an economic interest in OCM Cayman, OCM Cayman was deconsolidated as of the Effective Date of the 2022 Restructuring. Additionally, the Company concluded that it is no longer the primary beneficiary for CLOs as their direct ownership interests are held by OCM Cayman. Subsequent to the 2022 Restructuring the Company operates its business with a services agreement that provides certain administrative and other services to the Company. Prior to the 2022 Restructuring, the Company’s employees directly provided investment management and administrative support for its non-U.S. fee-based operations, while providing investment management, marketing and administrative services to OCM. The Company received fees from OCM for providing these services and paid fees to OCM based on the cost of administrative services it provides to the Company, including portions of certain of the Company’s executive officers’ compensation. Subsequent to the 2022 Restructuring, the Company will no longer receive such fee-based income from OCM but will continue to pay fees to OCM for services it provides to the Company. Subsequent to the 2022 Restructuring, the Company’s revenue continues to include the incentive income generated by certain funds that OCM manages for which the Company acts 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 generally reflects the investment return on a mark-to-market basis and the Company’s equity participation on the amounts that it invests in Oaktree and third-party funds. OCM, an affiliate of the Company, provides certain administrative and other services relating to the operations of the Company’s business 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, 2022 included in the Company’s Annual Report on Form 10-K filed with the SEC on March 21, 2023. 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.

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities:
Net income	$ 140,302	$ 53,852
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Investment (income) loss	(9,881)	18,933
Depreciation and amortization	0	993
Equity-based compensation	0	3,450
Net realized and unrealized (gain) loss from consolidated funds’ investments	(24,410)	100,092
Accretion of original issue and market discount of consolidated funds’ investments, net	(17,870)	(15,584)
Distributions of investment income and settlements of derivative instruments	7,590	48,474
SPAC deconsolidation gain and other non-cash items	(74)	(52,559)
Cash flows due to changes in operating assets and liabilities:
Net cash used in operating activities	(369,850)	(957,252)
Cash flows from investing activities:
Purchases of U.S. Treasury and other securities	0	(8,824)
Proceeds from maturities and sales of U.S. Treasury and other securities	0	4,433
Corporate investments in funds and companies	(409,539)	(30,098)
Distributions and proceeds from corporate investments in funds and companies	79,492	23,343
Purchases of fixed assets	0	(138)
Net cash used in investing activities	(330,047)	(11,284)
Cash flows from financing activities:
Net cash provided by financing activities	785,497	1,249,885
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	2,254	(18,418)
Net increase in cash and cash-equivalents	87,854	262,931
Supplemental Cash Flow Information [Abstract]
Initial consolidation (deconsolidation) of funds	0	(296,621)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash and cash-equivalents, beginning balance	176,130	1,159,119
Cash and cash-equivalents, ending balance	263,984	1,125,429
Total cash and cash-equivalents	263,984	1,125,429
Oaktree Capital Group Excluding Consolidated Funds
Cash flows due to changes in operating assets and liabilities:
Decrease in deferred tax assets	0	505
Increase in other assets	17,217	(4,794)
(Increase) decrease in net due from affiliates	214,036	300,010
Increase (decrease) in accrued compensation expense	(65,134)	(110,831)
Increase (decrease) in accounts payable, accrued expenses and other liabilities	(11,023)	(2,530)
Cash flows from financing activities:
Capital contributions, net	568,414	110,529
Proceeds from issuance of debt obligations	0	214,094
Distributions to Class A unitholders	(78,730)	(121,957)
Distributions to Non-controlling Interests	(44,404)	(71,204)
Distributions to preferred unitholders	(13,658)	(13,658)
Payment of debt issuance costs	(128)	(1,150)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash and cash-equivalents, ending balance	17,980	348,040
Total cash and cash-equivalents	17,980	348,040
Consolidated Funds
Cash flows due to changes in operating assets and liabilities:
Increase (decrease) in accounts payable, accrued expenses and other liabilities	(3,778)	(11,923)
Increase in dividends and interest receivable	(835)	(7,607)
Increase in due from brokers	31,965	(57,390)
(Increase) decrease in receivables for securities sold	(14,237)	25,325
(Increase) decrease in other assets	(13,393)	3,621
Increase (decrease) in payables for securities purchased	(43,499)	24,203
Purchases of securities	(2,441,651)	(5,113,662)
Proceeds from maturities and sales of securities	1,864,825	3,840,170
Cash flows from financing activities:
Payment of debt issuance costs	0	(6,181)
Contributions from non-controlling interests	1,107,488	547,100
Distributions to non-controlling interests	(63,085)	(132,979)
Proceeds from debt obligations issued by CLOs	0	1,676,771
Repayment on debt obligations issued by CLOs	0	(807,542)
Borrowings on credit facilities	76,678	403,652
Repayments on credit facilities	(767,078)	(547,590)
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations [Abstract]
Cash and cash-equivalents, ending balance	246,004	777,389
Total cash and cash-equivalents	$ 246,004	$ 777,389

EARNINGS PER UNIT

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

EARNINGS PER UNIT

The computation of net income (loss) per Class A unit is set forth below:


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
	(in thousands, except per unit amounts)
Net income (loss) per Class A unit (basic and diluted):
Net income (loss) attributable to OCG Class A unitholders	$	(6,335)	$	(21,356)	$	32,594	$	(10,503)
Weighted average number of Class A units outstanding (basic and diluted)	108,796		102,820		105,954		100,989
Basic and diluted net income (loss) per Class A unit	$	(0.06)	$	(0.21)	$	0.31	$	(0.10)

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 six months ended June 30, 2023 and 2022.

DERIVATIVES AND HEDGING - Fair Value of Derivatives of Consolidated Funds (Details) - Not Designated as Hedging Instrument - Consolidated Funds - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Notional	$ 754,972	$ 817,787
Fair Value	9,116	10,737
Liabilities
Notional	(118,832)	(180,996)
Fair Value	(21,242)	(24,022)
Foreign-currency forward contracts
Assets
Notional	513,197	427,141
Fair Value	2,189	9,758
Liabilities
Notional	(71,676)	(52,531)
Fair Value	(19,486)	(16,356)
Total-return and interest-rate and credit default swaps
Assets
Notional	80,441	12,604
Fair Value	6,130	700
Liabilities
Notional	(42,665)	(3,182)
Fair Value	(328)	(7,666)
Options and futures
Assets
Notional	161,334	378,042
Fair Value	797	279
Liabilities
Notional	(4,491)	(125,283)
Fair Value	$ (1,428)	$ 0

DEBT OBLIGATIONS AND CREDIT FACILITIES - Oaktree Capital Debt Obligations (Details) - Senior variable rate notes $ in Thousands	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Mar. 30, 2022 EUR (€)
Debt Instrument [Line Items]
Outstanding amount	$ 217,770	$ 213,450
Less: Debt issuance costs	(1,309)	(1,255)
Total debt obligations, net	216,461	212,195
€50,000, 2.20%, issued in June 2022, payable on June 8, 2032
Debt Instrument [Line Items]
Face amount \| €			€ 50,000,000
Stated percentage			2.20%
Outstanding amount	54,442	53,362
€75,000, 2.40%, issued in June 2022, payable on June 8, 2034
Debt Instrument [Line Items]
Face amount \| €			€ 75,000,000
Stated percentage			2.40%
Outstanding amount	81,664	80,044
€75,000, 2.58%, issued in June 2022, payable on June 8, 2037
Debt Instrument [Line Items]
Face amount \| €			€ 75,000,000
Stated percentage			2.58%
Outstanding amount	$ 81,664	$ 80,044

VARIABLE INTEREST ENTITIES - VIEs Not Consolidated (Details) - Unconsolidated VIEs - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 995,485	$ 1,177,067
Corporate investments
Variable Interest Entity [Line Items]
Maximum exposure to loss	995,401	976,569
Due from affiliates
Variable Interest Entity [Line Items]
Maximum exposure to loss	$ 84	$ 200,498

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

SUBSEQUENT EVENTS	6 Months Ended
SUBSEQUENT EVENTS	Jun. 30, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Class A Unit Distributions A distribution of $0.09 per Class A unit was paid on August 10, 2023 to holders of record at the close of business on August 2, 2023. Preferred Unit Distributions A distribution of $0.414063 per Series A preferred unit will be paid on September 15, 2023 to Series A preferred unitholders of record at the close of business on September 1, 2023. A distribution of $0.409375 per Series B preferred unit will be paid on September 15, 2023 to Series B preferred unitholders of record at the close of business on September 1, 2023.

INVESTMENTS

6 Months Ended

Jun. 30, 2023

Investments [Abstract]

INVESTMENTS

Corporate Investments

Corporate investments consisted of the following:


	As of
Corporate Investments	June 30, 2023		December 31, 2022

Equity-method investments:
Funds	$	1,424,160	$	1,082,069
Companies	1,280		1,276
Other investments, at fair value	84,978		108,159
Total corporate investments	$	1,510,418	$	1,191,504

The components of investment income (loss) are set forth below:


	Three months ended June 30,				Six months ended June 30,
Investment Income (Loss)	2023		2022		2023		2022

Equity-method investments:
Funds	$	(11,230)	$	(34,591)	$	14,892	$	(20,338)
Companies	—		(590)		(3)		(1,236)
Other investments, at fair value	(30,611)		4,507		(5,008)		2,641
Total investment income (loss)	$	(41,841)	$	(30,674)	$	9,881	$	(18,933)

Equity-method Investments

The Company’s equity-method investments include its investments in Oaktree funds for which it serves as general partner, and other third-party funds and companies that are not consolidated, but for which the Company is deemed to exert 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 does not exceed 2.5% in each fund. The Oaktree funds are investment companies that follow a specialized basis of accounting established by GAAP.

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. Given the transaction was closed on June 30, 2023, the Company did not record any equity investment income for the six months ended June 30, 2023. 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. For the six months ended June 30, 2023, no individual equity-method investment met the significance criteria.

Summarized financial information of the Company’s equity-method investments is set forth below.


	Three months ended June 30,				Six months ended June 30,
Statements of Operations	2023		2022		2023		2022
Revenues / investment income	$	1,064,494	$	789,232	$	2,241,125	$	1,629,837
Interest expense	(136,034)		(70,880)		(284,000)		(125,170)
Other expenses	(231,153)		(181,318)		(470,951)		(402,309)
Net realized and unrealized gain (loss) on investments	(440,319)		(896,459)		(114,734)		90,341
Net income (loss)	$	256,988	$	(359,425)	$	1,371,440	$	1,192,699

Other Investments, at Fair Value

Other investments, at fair value primarily consist 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:


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022

Realized gain	$	1,082	$	835	$	2,151	$	744
Net change in unrealized gain (loss)	(31,693)		3,672		(7,159)		1,897
Total gain (loss)	$	(30,611)	$	4,507	$	(5,008)	$	2,641

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	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
United States:
Debt securities:
Communication services	$	108,658	$	100,995	2.4	%	2.6	%
Consumer discretionary	228,762		127,170		5.1		3.3
Consumer staples	20,122		23,542		0.4		0.6
Energy	180,288		79,573		4.0		2.0
Financials	339,478		217,878		7.5		5.6
Health care	125,019		111,005		2.8		2.8
Industrials	254,194		206,479		5.6		5.3
Information technology	118,845		136,714		2.6		3.5
Materials	131,962		118,578		2.9		3.0
Real estate	137,109		182,643		3.0		4.7
Utilities	16,405		11,850		0.4		0.3
Other	225,078		1,890		5.0		0.0
Total debt securities (cost: $1,975,206 and $1,437,262 as of June 30, 2023 and December 31, 2022, respectively)	1,885,920		1,318,317		41.7		33.6
Equity securities:
Communication services	69,661		64,621		1.5		1.7
Consumer discretionary	134,894		133,104		3.0		3.4
Energy	433,746		482,984		9.6		12.4
Financials	185,092		181,980		4.1		4.7
Health care	26,164		26,191		0.6		0.7
Industrials	346,900		308,514		7.7		7.9
Information technology	14,914		14,107		0.3		0.4
Materials	899		899		0.0		0.0
Utilities	88,013		98,335		1.9		2.5
Total equity securities (cost: $1,061,469 and $1,000,922 as of June 30, 2023 and December 31, 2022, respectively)	1,300,283		1,310,735		28.7		33.7
Real estate:
Real estate	3,475		1,796		0.1		0.0

Total real estate securities (cost: $3,017 and $1,797 as of June 30, 2023 and December 31, 2022, respectively)	3,475		1,796		0.1		0.0


	Fair Value as of				Fair Value as a Percentage of Investments of Consolidated Funds as of
Investments	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
Europe:
Debt securities:
Communication services	$	105,463	$	103,068	2.3	%	2.6	%
Consumer discretionary	15,929		13,997		0.4		0.4
Consumer staples	1,916		8,024		0.0		0.2
Energy	1,361		1,097		0.0		0.0
Financials	15,698		35,091		0.3		0.9
Health care	11,439		8,178		0.3		0.2
Industrials	14,385		12,384		0.3		0.3
Information technology	25,048		4,583		0.6		0.1
Materials	13,441		10,920		0.3		0.3
Real estate	16,494		12,888		0.4		0.3
Utilities	7,947		5,102		0.2		0.1
Other	2,551		2,484		0.1		0.1
Total debt securities (cost: $227,604 and $230,090 as of June 30, 2023 and December 31, 2022, respectively)	231,672		217,816		5.2		5.5
Equity securities:
Consumer discretionary	94,570		130,868		2.1		3.3
Materials	24,282		24,282		0.5		0.6
Financials	36,250		31,701		0.8		0.8
Health care	3		9		0.0		0.0
Industrials	58,661		53,790		1.3		1.4
Real estate	38,712		25,622		0.9		0.7
Total equity securities (cost: $233,883 and $241,129 as of June 30, 2023 and December 31, 2022, respectively)	252,478		266,272		5.6		6.8
Real estate:
Real estate	85,200		72,675		1.9		1.9
Total real estate securities (cost: $81,598 and $69,100 as of June 30, 2023 and December 31, 2022, respectively)	85,200		72,675		1.9		1.9
Asia and other:
Debt securities:
Communication services	853		5,419		0.0		0.1
Consumer discretionary	5,921		5,641		0.1		0.2
Consumer staples	19,615		19,125		0.4		0.5
Energy	8,432		9,163		0.2		0.2
Financials	7,742		8,344		0.2		0.2

Health care	2,649		2,837		0.1		0.1
Industrials	3,980		3,754		0.1		0.1
Information technology	953		695		0.0		0.0
Materials	161,356		113,784		3.6		2.9
Real estate	439,532		328,343		9.7		8.4
Utilities	4,142		5,602		0.1		0.1
Other	—		59,998		—		1.5
Total debt securities (cost: $680,512 and $581,467 as of June 30, 2023 and December 31, 2022, respectively)	655,175		562,705		14.4		14.4


	Fair Value as of				Fair Value as a Percentage of Investments of Consolidated Funds as of
Investments	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
Asia and other:
Equity securities:



Energy	$	6,029	$	7,581	0.1	%	0.2	%
Industrials	70,031		113,270		1.5		2.9
Real estate	32,916		32,916		0.7		0.8
Utilities	4,263		4,530		0.1		0.1
Total equity securities (cost: $99,042 and $722,128 as of June 30, 2023 and December 31, 2022, respectively)	113,239		158,297		2.4		4.0















Total debt securities	2,772,767		2,098,838		61.2		53.7
Total equity securities	1,666,000		1,735,304		36.8		44.4
Total real estate	88,675		74,471		2.0		1.9
Total investments, at fair value	$	4,527,442	$	3,908,613	100.0	%	100.0	%

As of June 30, 2023 and December 31, 2022, no single issuer or investment had a fair value that exceeded 5% of our 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 June 30,
	2023				2022
	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	$	27,208	$	(5,980)	$	21,673	$	(124,313)
CLO liabilities (1)	—		—		(12,319)		(40,956)
Foreign-currency forward contracts (2)	93		(6,596)		14,133		9,494
Total-return and interest-rate swaps (2)	122		468		4,266		32,939
Options and futures (2)	640		1,134		4,108		(2,088)
Commodity swaps (2)	2,638		(1,815)		(15,735)		(30,428)
Total	$	30,701	$	(12,789)	$	16,126	$	(155,352)


	Six months ended June 30,
	2023				2022
	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	$	57,467	$	(41,938)	$	(68,382)	$	76,954
CLO liabilities (1)	—		—		(14,434)		(86,800)
Foreign-currency forward contracts (2)	(1,521)		(10,580)		15,089		12,422
Total-return and interest-rate swaps (2)	117		456		282		106
Options and futures (2)	1,072		736		10,081		(105)
Commodity swaps (2)	5,246		13,355		(15,735)		(29,570)
Total	$	62,381	$	(37,971)	$	(73,099)	$	(26,993)

(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. Subsequent to the 2022 Restructuring, the assets and liabilities of the CLOs are no longer consolidated by the Company.

(2) Please see note 7 for additional information.

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Total revenues	$ 2,072	$ 116,583	$ 61,473	$ 179,613
Expenses:
Compensation and benefits	(85)	(37,830)	(176)	(81,919)
Equity-based compensation	0	(1,952)	0	(3,450)
Incentive income compensation	1,494	(12,937)	(57,044)	(17,894)
Total compensation and benefits expense	1,409	(52,719)	(57,220)	(103,263)
General and administrative	(179)	(6,259)	(2,103)	(11,297)
Depreciation and amortization	0	(411)	0	(993)
Consolidated fund expenses	(13,188)	(15,357)	(27,324)	(40,159)
Total expenses	(11,958)	(74,746)	(86,647)	(155,712)
Other income (loss):
Interest expense	(12,161)	(57,849)	(28,710)	(97,040)
Interest and dividend income	93,086	129,857	159,895	253,429
Net realized gain (loss) on consolidated funds’ investments	30,701	16,126	62,381	(73,099)
Net change in unrealized appreciation (depreciation) on consolidated funds’ investments	(12,789)	(155,352)	(37,971)	(26,993)
Investment income (loss)	(41,841)	(30,674)	9,881	(18,933)
Total other income (loss)	56,996	(97,892)	165,476	37,364
Income (loss) before income taxes	47,110	(56,055)	140,302	61,265
Income taxes	0	(3,716)	0	(7,413)
Net income (loss)	47,110	(59,771)	140,302	53,852
Less:
Net income (loss) attributable to Oaktree Capital Group, LLC	494	(14,527)	46,252	3,155
Net income attributable to preferred unitholders	(6,829)	(6,829)	(13,658)	(13,658)
Net income (loss) attributable to Oaktree Capital Group, LLC Class A unitholders	$ (6,335)	$ (21,356)	$ 32,594	$ (10,503)
Distributions declared per Class A unit (in dollars per share)	$ 0.72	$ 0.16	$ 0.83	$ 1.13
Net income (loss) per Class A unit (basic and diluted):
Net income (loss) per Class A unit, basic (in dollars per share)	(0.06)	(0.21)	0.31	(0.10)
Net income (loss) per Class A unit, diluted (in dollars per share)	$ (0.06)	$ (0.21)	$ 0.31	$ (0.10)
Weighted average number of Class A units outstanding, diluted (in shares)	160,116	159,907	160,089	159,911
Consolidated Funds
Less:
Net income (loss) attributable to non-controlling interests	$ (60,571)	$ 32,093	$ (88,305)	$ (66,850)
Consolidated Subsidiaries
Less:
Net income (loss) attributable to non-controlling interests	13,955	13,151	(5,745)	16,153
Class A Units
Less:
Net income (loss) attributable to Oaktree Capital Group, LLC Class A unitholders	$ (6,335)	$ (21,356)	$ 32,594	$ (10,503)
Net income (loss) per Class A unit (basic and diluted):
Net income (loss) per Class A unit, basic (in dollars per share)	$ (0.06)	$ (0.21)	$ 0.31	$ (0.10)
Net income (loss) per Class A unit, diluted (in dollars per share)	$ (0.06)	$ (0.21)	$ 0.31	$ (0.10)
Weighted average number of Class A units outstanding, basic (in shares)	108,796	102,820	105,954	100,989
Weighted average number of Class A units outstanding, diluted (in shares)	108,796	102,820	105,954	100,989
Management fees
Revenues:
Total revenues	$ 0	$ 63,079	$ 0	$ 123,510
Incentive income
Revenues:
Total revenues	$ 2,072	$ 53,504	$ 61,473	$ 56,103

INVESTMENTS - Corporate Investments (Details) - Oaktree Capital Group Excluding Consolidated Funds - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Other investments, at fair value	$ 84,978	$ 108,159
Total corporate investments	1,510,418	1,191,504
Funds
Schedule of Equity Method Investments [Line Items]
Equity-method investments:	1,424,160	1,082,069
Companies
Schedule of Equity Method Investments [Line Items]
Equity-method investments:	$ 1,280	$ 1,276

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Jun. 30, 2023
Accounting Policies [Abstract]
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	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. 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” 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 2022 Restructuring, the Company no longer controls OCM Cayman and therefore OCM Cayman was deconsolidated as of the Effective Date. Additionally, the Company concluded that it was no longer the primary beneficiary for CLOs as their direct ownership interests are held by OCM Cayman. Certain entities in which the Company has the ability to exert significant influence, including unconsolidated Oaktree funds for which the Company acts as general partner, 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.
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. Please see note 10 for more information.
Fair Value of Financial Instruments	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 requires 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, are 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.
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.
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-equivalentsCash 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	At June 30, 2023 and December 31, 2022, 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.
Corporate Investments	Corporate Investments Corporate investments may consist 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. Investments for which the Company is deemed to exert significant influence are accounted for under the equity method of accounting and reflect Oaktree’s ownership interest in each fund or company. In the case of investments for which the Company is not deemed to exert significant influence or control, the fair value option of accounting has been elected. Investment income represents the Company’s pro-rata share of income or loss from these funds or companies, or the change in fair value of the investment, as applicable. Oaktree’s general partnership interests are substantially illiquid. While 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 rating 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	Revenue Recognition - Incentive Income The Company earns incentive income from the investment advisory services it provides to its customers. Revenue is recognized when control of the promised services is 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 the Company 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. The Company may receive 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. The Company may earn incentive income upon deconsolidation of a SPAC arising from the completion of a merger with an identified target. Upon deconsolidation, the Company will derecognize the net assets of the entity and record 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 the Company’s investments held in the entity will be recorded in investment income in its condensed consolidated statements of operations.
Total Compensation and Benefits	Total Compensation and Benefits Incentive Income Compensation Incentive income compensation expense primarily reflects 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.
Other Income (Expense), Net	Other Income (Expense), Net Other income (expense), net represents non-operating income or expense items.
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.
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, debt restructuring, liquidation 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 negotiations 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.
Effects of 2022 Restructuring	Effects of 2022 Restructuring As a result of the 2022 Restructuring, including the deconsolidation of OCM Cayman and reconsideration of the primary beneficiary of the CLOs, certain accounts related to OCM Cayman and the CLOs are no longer included in the Company’s consolidated financial statements for the six months ended June 30, 2023. The effects of the 2022 Restructuring are summarized as follows: •The Company’s management fees consisted primarily of fees earned from funds managed by OCM Cayman and sub-advisory fees for services provided to OCM. Subsequent to the 2022 Restructuring, the Company no longer earns management or sub-advisory fees. •Since the Company’s employees were all employees of OCM Cayman, the Company no longer incurs compensation and benefits expense that is not directly related to incentive income (including salaries, bonuses, compensation based on management fees or a definition of profits, employee benefits, payroll taxes, phantom equity awards, and awards under the long-term incentive plan) or equity-based compensation expense. Compensation and benefits expense subsequent to the 2022 Restructuring represents compensation to our board of directors. •All of the Company’s lease contracts were obligations of OCM Cayman or its subsidiaries. Accordingly, the Company no longer incurs lease associated costs and no longer reflects right-of-use assets or operating lease liabilities in its statement of financial condition. •The Company’s furniture and equipment, capitalized software and office leasehold improvements were all associated with OCM Cayman and deconsolidated in conjunction with the 2022 Restructuring. Accordingly, the Company no longer recognizes depreciation or amortization expense. •While Oaktree Capital I is a non-corporate entity that is not subject to U.S. federal corporate income tax, OCM Cayman has certain subsidiaries that are taxable in non-U.S. jurisdictions. Subsequent to the 2022 Restructuring, the tax balances related to OCM Cayman were deconsolidated and the Company will no longer incur income tax expense. •Since OCM Cayman included the Company’s foreign subsidiaries with non-U.S. dollar functional currencies, the Company no longer has foreign operations. Prior to the 2022 Restructuring, translation adjustments were included in other comprehensive income (loss) within the condensed consolidated statements of operations. •The Company no longer consolidates the financial assets and liabilities of the CLOs as their direct ownership interests are held by OCM Cayman. Prior to the 2022 Restructuring, the Company had elected the fair value option for the financial assets and financial liabilities of the consolidated CLOs, which were primarily reflected within investments, at fair value and within debt obligations of CLOs line items in the condensed consolidated statements of financial condition. See Part II, Item 8, Note 2 and Note 11 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on March 21, 2023 for disclosure of the Company’s accounting policies with respect to (i) revenue recognition for management fees, (ii) compensation and benefits, including equity-based compensation; (iii) leases; (iv) depreciation and amortization; (v) income taxes; (vi) foreign currency translation; and (vii) election of the fair value option and related measurement of the financial assets and liabilities of the CLOs.
Recent Accounting Developments	Recent Accounting Developments In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in this update clarify the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual sale restrictions and introduce new disclosure requirements related to such equity securities. The amendments are effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its condensed consolidated financial statements. 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. The Company has not adopted any of the optional expedients or exceptions through June 30, 2023, but will continue to evaluate the possible adoption (including potential impact) of any such expedients or exceptions during the effective period as circumstances evolve.

FAIR VALUE - Financial Instruments by Fair-value Hierarchy Level (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	$ 11,014	$ 24,077
Derivative liabilities	(23,379)	(35,862)
Oaktree Capital Group Excluding Consolidated Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, at fair value	404,460	108,159
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	1,898	13,340
Derivative liabilities	(2,137)	(11,840)
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	28,200	0
Total assets	432,775	132,060
Total liabilities	(2,137)	(11,840)
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Foreign-currency forward contracts \| Corporate investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	1,898	1,279
Derivative liabilities	(115)	(11,840)
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Foreign-currency forward contracts \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	0	12,061
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Foreign-currency forward contracts \| Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(2,022)	0
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	402,677	118,720
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	27,159	0
Total assets	90,384	109,078
Total liabilities	0	0
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Foreign-currency forward contracts \| Corporate investments
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 \| Foreign-currency forward contracts \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	0	0
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level I \| Foreign-currency forward contracts \| Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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	63,225	109,078
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	321,633	14,512
Total liabilities	(2,137)	(11,840)
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Foreign-currency forward contracts \| Corporate investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	1,898	1,279
Derivative liabilities	(115)	(11,840)
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Foreign-currency forward contracts \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	0	12,061
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level II \| Foreign-currency forward contracts \| Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liabilities	(2,022)	0
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	319,735	1,172
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	1,041	0
Total assets	20,758	8,470
Total liabilities	0	0
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Foreign-currency forward contracts \| Corporate investments
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 \| Foreign-currency forward contracts \| Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets, at fair value	0	0
Oaktree Capital Group Excluding Consolidated Funds \| Fair Value, Measurements, Recurring \| Level III \| Foreign-currency forward contracts \| Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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	$ 19,717	$ 8,470

REVENUES - Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Revenue from Contract with Customer [Abstract]
Receivables	$ 120	$ 8,471
Contract assets	$ 0	$ 194,707

VARIABLE INTEREST ENTITIES - Additional Information (Details) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) entity	Dec. 31, 2022 USD ($) entity
Variable Interest Entity [Line Items]
Assets	$ 6,511,711	$ 5,654,889
Liabilities	$ 807,050	$ 1,565,837
Consolidated VIEs
Variable Interest Entity [Line Items]
Number of VIE's consolidated (in entity) \| entity	9	9
Assets	$ 4,900,000
Liabilities	400,000
Maximum exposure to loss	$ 1,100,000
Number of remaining variable interest entities \| Consolidated VIEs
Variable Interest Entity [Line Items]
Number of VIE's consolidated (in entity) \| entity	9

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-25

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(8))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 26: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1

+ Details

- Definition

Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 25
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481231/810-10-45-25

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 810
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (bb)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481203/810-10-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(14))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481404/852-10-50-7

Reference 21: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 22: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.19-26)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

DEBT OBLIGATIONS AND CREDIT FACILITIES (Tables)

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Debt Obligations

The offering closed on June 8, 2022 and Oaktree Capital I received proceeds of €200 million on the closing date.


	As of
	June 30, 2023		December 31, 2022
Senior unsecured notes
€50,000, 2.20%, issued in June 2022, payable on June 8, 2032	$	54,442	$	53,362
€75,000, 2.40%, issued in June 2022, payable on June 8, 2034	81,664		80,044
€75,000, 2.58%, issued in June 2022, payable on June 8, 2037	81,664		80,044
Total remaining principal	217,770		213,450
Less: Debt issuance costs	(1,309)		(1,255)
Total debt obligations, net	$	216,461	$	212,195

The Company’s maximum exposure to these debt obligations is set forth below:


	As of
	June 30, 2023		December 31, 2022
Senior unsecured notes

$50,000, 3.91%, issued in September 2014, payable on September 3, 2024	$	50,000	$	50,000
$100,000, 4.01%, issued in September 2014, payable on September 3, 2026	100,000		100,000
$100,000, 4.21%, issued in September 2014, payable on September 3, 2029	100,000		100,000
$100,000, 3.69%, issued in July 2016, payable on July 12, 2031	100,000		100,000
$250,000, 3.78%, issued in December 2017, payable on December 18, 2032	250,000		250,000
$200,000, 3.64%, issued in July 2020, payable on July 22, 2030	200,000		200,000
$50,000, 3.84%, issued in July 2020, payable on July 22, 2035	50,000		50,000
$200,000, 3.06%, issued in January 2022, payable on January 12, 2037	200,000		200,000

Total remaining principal	$	1,050,000	$	1,050,000

Schedule of Collateralized Loan Obligation

The consolidated funds had the following debt obligations outstanding:


	Outstanding Amount as of				Key terms as of June 30, 2023
Credit Agreement	June 30, 2023		December 31, 2022		Facility Capacity		Effective Interest Rate	Weighted Average Remaining Maturity (years)	Commitment Fee Rate	L/C Fee
Revolving credit facility (1)	$	310,454	$	1,000,859	$	1,162,742	6.86%	0.13	0.20%	1.52%


Less: Debt issuance costs	(260)		(1,972)
Total debt obligations, net (2)	$	310,194	$	998,887

(1) The credit facility capacity is calculated on a pro rata basis using fund commitments as of June 30, 2023.

(2) Debt issuance costs are included in other assets as of June 30, 2023 and December 31, 2022.

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481568/470-20-55-69E

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-2

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482925/835-30-45-1A

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482949/835-30-55-8

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480848/942-470-50-3

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-8

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-6

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-7

+ Details

UNITHOLDERS' CAPITAL - Additional Information (Details) - USD ($)			6 Months Ended
	Aug. 09, 2018	May 17, 2018	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Total unitholders’ capital			$ 2,388,723,000	$ 2,106,895,000	$ 1,906,638,000	$ 2,189,774,000	$ 2,240,278,000	$ 2,272,602,000
Non-controlling interests in consolidated subsidiaries			$ 285,307,000		$ 360,660,000
Preferred redemption price (in dollars per share)			$ 25.00
Preferred redemption notice period			30 days
Preferred redemption period, change in control event			60 days
Preferred redemption price, change in control event (in dollars per share)			$ 25.25
Redemption period after tax redemption event			60 days
Preferred redemption price, tax redemption event (in dollars per share)			$ 25.50
Series A Preferred Units
Class of Stock [Line Items]
Preferred dividend rate		6.625%
Preferred redemption price (in dollars per share)		$ 25.00
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	6.55%
Preferred redemption price (in dollars per share)	$ 25.00
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)			50,916,930		56,922,688
Non-controlling interests in consolidated subsidiaries			$ 285,307,000		$ 360,660,000
Total weighted average units outstanding
Class of Stock [Line Items]
Subsidiary units outstanding (in shares)					160,002,848
Total unitholders’ capital			$ 898,911,000		$ 1,017,192,000
Total weighted average units outstanding \| Converted OCGH Units and OCGH Units
Class of Stock [Line Items]
Subsidiary units outstanding (in shares)			160,115,921
Equity Held by Third Parties
Class of Stock [Line Items]
Non-controlling interests in consolidated subsidiaries			$ 0		$ 0

INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2023

Investments [Abstract]

Schedule of Corporate Investments

Corporate investments consisted of the following:


	As of
Corporate Investments	June 30, 2023		December 31, 2022

Equity-method investments:
Funds	$	1,424,160	$	1,082,069
Companies	1,280		1,276
Other investments, at fair value	84,978		108,159
Total corporate investments	$	1,510,418	$	1,191,504

Summarized financial information of the Company’s equity-method investments is set forth below.


	Three months ended June 30,				Six months ended June 30,
Statements of Operations	2023		2022		2023		2022
Revenues / investment income	$	1,064,494	$	789,232	$	2,241,125	$	1,629,837
Interest expense	(136,034)		(70,880)		(284,000)		(125,170)
Other expenses	(231,153)		(181,318)		(470,951)		(402,309)
Net realized and unrealized gain (loss) on investments	(440,319)		(896,459)		(114,734)		90,341
Net income (loss)	$	256,988	$	(359,425)	$	1,371,440	$	1,192,699

Schedule of Investment

The components of investment income (loss) are set forth below:


	Three months ended June 30,				Six months ended June 30,
Investment Income (Loss)	2023		2022		2023		2022

Equity-method investments:
Funds	$	(11,230)	$	(34,591)	$	14,892	$	(20,338)
Companies	—		(590)		(3)		(1,236)
Other investments, at fair value	(30,611)		4,507		(5,008)		2,641
Total investment income (loss)	$	(41,841)	$	(30,674)	$	9,881	$	(18,933)

Schedule of Investments, at Fair Value

The following table summarizes net gains (losses) attributable to the Company’s other investments:


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022

Realized gain	$	1,082	$	835	$	2,151	$	744
Net change in unrealized gain (loss)	(31,693)		3,672		(7,159)		1,897
Total gain (loss)	$	(30,611)	$	4,507	$	(5,008)	$	2,641

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	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
United States:
Debt securities:
Communication services	$	108,658	$	100,995	2.4	%	2.6	%
Consumer discretionary	228,762		127,170		5.1		3.3
Consumer staples	20,122		23,542		0.4		0.6
Energy	180,288		79,573		4.0		2.0
Financials	339,478		217,878		7.5		5.6
Health care	125,019		111,005		2.8		2.8
Industrials	254,194		206,479		5.6		5.3
Information technology	118,845		136,714		2.6		3.5
Materials	131,962		118,578		2.9		3.0
Real estate	137,109		182,643		3.0		4.7
Utilities	16,405		11,850		0.4		0.3
Other	225,078		1,890		5.0		0.0
Total debt securities (cost: $1,975,206 and $1,437,262 as of June 30, 2023 and December 31, 2022, respectively)	1,885,920		1,318,317		41.7		33.6
Equity securities:
Communication services	69,661		64,621		1.5		1.7
Consumer discretionary	134,894		133,104		3.0		3.4
Energy	433,746		482,984		9.6		12.4
Financials	185,092		181,980		4.1		4.7
Health care	26,164		26,191		0.6		0.7
Industrials	346,900		308,514		7.7		7.9
Information technology	14,914		14,107		0.3		0.4
Materials	899		899		0.0		0.0
Utilities	88,013		98,335		1.9		2.5
Total equity securities (cost: $1,061,469 and $1,000,922 as of June 30, 2023 and December 31, 2022, respectively)	1,300,283		1,310,735		28.7		33.7
Real estate:
Real estate	3,475		1,796		0.1		0.0

Total real estate securities (cost: $3,017 and $1,797 as of June 30, 2023 and December 31, 2022, respectively)	3,475		1,796		0.1		0.0


	Fair Value as of				Fair Value as a Percentage of Investments of Consolidated Funds as of
Investments	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
Europe:
Debt securities:
Communication services	$	105,463	$	103,068	2.3	%	2.6	%
Consumer discretionary	15,929		13,997		0.4		0.4
Consumer staples	1,916		8,024		0.0		0.2
Energy	1,361		1,097		0.0		0.0
Financials	15,698		35,091		0.3		0.9
Health care	11,439		8,178		0.3		0.2
Industrials	14,385		12,384		0.3		0.3
Information technology	25,048		4,583		0.6		0.1
Materials	13,441		10,920		0.3		0.3
Real estate	16,494		12,888		0.4		0.3
Utilities	7,947		5,102		0.2		0.1
Other	2,551		2,484		0.1		0.1
Total debt securities (cost: $227,604 and $230,090 as of June 30, 2023 and December 31, 2022, respectively)	231,672		217,816		5.2		5.5
Equity securities:
Consumer discretionary	94,570		130,868		2.1		3.3
Materials	24,282		24,282		0.5		0.6
Financials	36,250		31,701		0.8		0.8
Health care	3		9		0.0		0.0
Industrials	58,661		53,790		1.3		1.4
Real estate	38,712		25,622		0.9		0.7
Total equity securities (cost: $233,883 and $241,129 as of June 30, 2023 and December 31, 2022, respectively)	252,478		266,272		5.6		6.8
Real estate:
Real estate	85,200		72,675		1.9		1.9
Total real estate securities (cost: $81,598 and $69,100 as of June 30, 2023 and December 31, 2022, respectively)	85,200		72,675		1.9		1.9
Asia and other:
Debt securities:
Communication services	853		5,419		0.0		0.1
Consumer discretionary	5,921		5,641		0.1		0.2
Consumer staples	19,615		19,125		0.4		0.5
Energy	8,432		9,163		0.2		0.2
Financials	7,742		8,344		0.2		0.2

Health care	2,649		2,837		0.1		0.1
Industrials	3,980		3,754		0.1		0.1
Information technology	953		695		0.0		0.0
Materials	161,356		113,784		3.6		2.9
Real estate	439,532		328,343		9.7		8.4
Utilities	4,142		5,602		0.1		0.1
Other	—		59,998		—		1.5
Total debt securities (cost: $680,512 and $581,467 as of June 30, 2023 and December 31, 2022, respectively)	655,175		562,705		14.4		14.4


	Fair Value as of				Fair Value as a Percentage of Investments of Consolidated Funds as of
Investments	June 30, 2023		December 31, 2022		June 30, 2023		December 31, 2022
Asia and other:
Equity securities:



Energy	$	6,029	$	7,581	0.1	%	0.2	%
Industrials	70,031		113,270		1.5		2.9
Real estate	32,916		32,916		0.7		0.8
Utilities	4,263		4,530		0.1		0.1
Total equity securities (cost: $99,042 and $722,128 as of June 30, 2023 and December 31, 2022, respectively)	113,239		158,297		2.4		4.0















Total debt securities	2,772,767		2,098,838		61.2		53.7
Total equity securities	1,666,000		1,735,304		36.8		44.4
Total real estate	88,675		74,471		2.0		1.9
Total investments, at fair value	$	4,527,442	$	3,908,613	100.0	%	100.0	%

Schedule of Net Gains (Losses) from Investment Activities of Consolidated Funds

The following table summarizes net gains (losses) from investment activities:


	Three months ended June 30,
	2023				2022
	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	$	27,208	$	(5,980)	$	21,673	$	(124,313)
CLO liabilities (1)	—		—		(12,319)		(40,956)
Foreign-currency forward contracts (2)	93		(6,596)		14,133		9,494
Total-return and interest-rate swaps (2)	122		468		4,266		32,939
Options and futures (2)	640		1,134		4,108		(2,088)
Commodity swaps (2)	2,638		(1,815)		(15,735)		(30,428)
Total	$	30,701	$	(12,789)	$	16,126	$	(155,352)


	Six months ended June 30,
	2023				2022
	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	$	57,467	$	(41,938)	$	(68,382)	$	76,954
CLO liabilities (1)	—		—		(14,434)		(86,800)
Foreign-currency forward contracts (2)	(1,521)		(10,580)		15,089		12,422
Total-return and interest-rate swaps (2)	117		456		282		106
Options and futures (2)	1,072		736		10,081		(105)
Commodity swaps (2)	5,246		13,355		(15,735)		(29,570)
Total	$	62,381	$	(37,971)	$	(73,099)	$	(26,993)

(2) Please see note 7 for additional information.

RELATED-PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2023

Schedule Of Amounts Due from and Due 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 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
	June 30, 2023		December 31, 2022
Due from affiliates:


Management fees and incentive income due from unconsolidated funds and affiliates	$	120	$	203,178
Receivable from unconsolidated entities	34,966		4,696

Total due from affiliates	$	35,086	$	207,874
Due to affiliates:

Amounts due to unconsolidated entities	$	77,411	$	36,164

Total due to affiliates	$	77,411	$	36,164

Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Assets
Derivative assets, at fair value	$ 11,014	$ 24,077
Total assets	6,511,711	5,654,889
Liabilities:
Derivative liabilities, at fair value	23,379	35,862
Total liabilities	807,050	1,565,837
Commitments and contingencies (Note 15)
Unitholders’ capital:
Paid-in capital	1,512,724	908,142
Retained earnings	200,217	246,353
Accumulated other comprehensive loss	(10,109)	(9,101)
Unitholders’ capital attributable to Oaktree Capital Group, LLC	2,103,416	1,545,978
Non-controlling interests in consolidated subsidiaries	285,307	360,660
Total unitholders’ capital	2,388,723	1,906,638
Total liabilities and unitholders’ capital	6,511,711	5,654,889
Series A Preferred Units
Unitholders’ capital:
Preferred stock	173,669	173,669
Series B Preferred Units
Unitholders’ capital:
Preferred stock	226,915	226,915
Class A Units
Unitholders’ capital:
Common stock	0	0
Class B Units
Unitholders’ capital:
Common stock	0	0
Related Party
Assets
Due from affiliates	35,086	207,874
Liabilities:
Accounts payable, accrued expenses and other liabilities	77,411	36,164
Oaktree Capital Group Excluding Consolidated Funds
Assets
Cash and cash-equivalents	17,980	9,514
Investments	1,510,418	1,191,504
Due from affiliates	35,086	207,874
Other assets, net	60,059	51,008
Liabilities:
Accrued compensation expense	59,119	124,253
Debt obligations	216,461	212,195
Oaktree Capital Group Excluding Consolidated Funds \| Nonrelated Party
Liabilities:
Accounts payable, accrued expenses and other liabilities	5,942	4,483
Oaktree Capital Group Excluding Consolidated Funds \| Related Party
Liabilities:
Accounts payable, accrued expenses and other liabilities	77,411	36,164
Consolidated Funds
Assets
Cash and cash-equivalents	246,004	166,616
Investments	4,527,442	3,908,613
Other assets, net	55,705	42,232
Dividends and interest receivable	26,862	26,029
Due from brokers	5,410	37,375
Receivable for securities sold	17,629	3,387
Derivative assets, at fair value	9,116	10,737
Total assets	4,900,000
Liabilities:
Accounts payable, accrued expenses and other liabilities	4,851	8,985
Payables for securities purchased	109,816	153,439
Derivative liabilities, at fair value	21,242	24,022
Distributions payable	1,754	1,437
Borrowings under credit facilities	310,454	1,000,859
Total liabilities	400,000
Non-controlling redeemable interests in consolidated funds	$ 3,315,938	$ 2,182,414

FAIR VALUE

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE

Fair Value of Financial Assets and Liabilities

The short-term nature of cash and cash-equivalents, 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 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.


	As of June 30, 2023								As of December 31, 2022
	Level I		Level II		Level III		Total		Level I		Level II		Level III		Total
Assets

Corporate investments	$	63,225	$	319,735	$	19,717	$	402,677	$	109,078	$	1,172	$	8,470	$	118,720
SPAC common stock and earn-out shares included in other assets	27,159		—		1,041		28,200		—		—		—		—
Foreign-currency forward contracts - included in corporate investments	—		1,898		—		1,898		—		1,279		—		1,279
Foreign-currency forward contracts - included in other assets	—		—		—		—		—		12,061		—		12,061

Total assets	$	90,384	$	321,633	$	20,758	$	432,775	$	109,078	$	14,512	$	8,470	$	132,060

Liabilities

Foreign-currency forward contracts - included in corporate investments	$	—	$	(115)	$	—	$	(115)	$	—	$	(11,840)	$	—	$	(11,840)
Foreign-currency forward contracts - included in other liabilities	—		(2,022)		—		(2,022)		—		—		—		—


Total liabilities	$	—	$	(2,137)	$	—	$	(2,137)	$	—	$	(11,840)	$	—	$	(11,840)

The Company’s Level III financial instrument held as of June 30, 2023 consists of earn-out shares received in connection with the deconsolidation of a SPAC and a mezzanine loan purchased during the second quarter of 2023.

The table below sets forth a summary of the valuation techniques and quantitative information utilized in determining the fair value of the Company’s Level III financial instruments at June 30, 2023:

Fair Value as of

Significant Unobservable Input

Financial Instrument

June 30, 2023

Valuation Technique

Input Value

Mezzanine loan

18,155

Recent market information

Broker quotations

N/A

Earn-out shares

2,603

Black-Scholes option pricing model

Volatility

55%

Total Level III Financial Instruments

20,758

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 June 30, 2023								As of December 31, 2022
	Level I		Level II		Level III		Total		Level I		Level II		Level III		Total
Assets
Investments:
Corporate debt – bank debt	$	—	$	459,775	$	1,262,634	$	1,722,409	$	—	$	411,997	$	702,497	$	1,114,494
Corporate debt – all other	—		873,035		177,323		1,050,358		—		764,841		219,503		984,344
Equities – common stock	206,134		30,366		809,676		1,046,176		226,862		34,389		777,198		1,038,449
Equities – preferred stock	1,140		—		618,684		619,824		80,251		—		616,604		696,855
Real estate	—		—		88,675		88,675		—		—		74,471		74,471
Total investments	207,274		1,363,176		2,956,992		4,527,442		307,113		1,211,227		2,390,273		3,908,613
Derivatives:
Foreign-currency forward contracts	—		2,189		—		2,189		—		9,758		—		9,758
Swaps	5,543		587		—		6,130		—		700		—		700
Options and futures	797		—		—		797		279		—		—		279
Total derivatives (1)	6,340		2,776		—		9,116		279		10,458		—		10,737
Total assets	$	213,614	$	1,365,952	$	2,956,992	$	4,536,558	$	307,392	$	1,221,685	$	2,390,273	$	3,919,350

Liabilities






Derivatives:
Foreign-currency forward contracts	$	—	$	(19,486)	$	—	$	(19,486)	$	—	$	(16,356)	$	—	$	(16,356)
Swaps	—		(328)		—		(328)		(7,666)		—		—		(7,666)
Options and futures	(1,428)		—		—		(1,428)		—		—		—		—

Total derivatives (3)	(1,428)		(19,814)		—		(21,242)		(7,666)		(16,356)		—		(24,022)
Total liabilities	$	(1,428)	$	(19,814)	$	—	$	(21,242)	$	(7,666)	$	(16,356)	$	—	$	(24,022)

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		Total
Three months ended June 30, 2023
Beginning balance	$	962,316	$	227,164	$	809,809	$	582,600	$	85,305	$	2,667,194

Transfers into Level III	770		3,482		17,267		—		—		21,519
Transfers out of Level III	(168)		—		—		—		—		(168)
Purchases	342,977		1,066		5,966		36,228		6,435		392,672
Sales	(40,758)		(56,176)		(17,967)		(314)		—		(115,215)
Realized gain (losses), net	117		(199)		8,382		23		(1)		8,322
Unrealized appreciation (depreciation), net	(2,620)		1,986		(13,781)		147		(3,064)		(17,332)
Ending balance	$	1,262,634	$	177,323	$	809,676	$	618,684	$	88,675	$	2,956,992
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$	(2,498)	$	1,964	$	(13,729)	$	32	$	(3,064)	$	(17,295)
Three months ended June 30, 2022
Beginning balance	$	867,294	$	224,490	$	690,278	$	593,752	$	36,887	$	2,412,701
Deconsolidation of funds	(33,428)		—		(456)		—		—		(33,884)
Transfers into Level III	82,845		3,942		—		—		—		86,787
Transfers out of Level III	(20,766)		(1,475)		—		—		—		(22,241)
Purchases	62,126		6,207		9,179		79,781		20,194		177,487
Sales	(98,436)		(24,425)		(63,306)		(91,191)		—		(277,358)
Realized losses, net	(422)		3		6,396		4		(827)		5,154
Unrealized appreciation (depreciation), net	(8,534)		(7,118)		40,371		3,084		2,887		30,690
Ending balance	$	850,679	$	201,624	$	682,462	$	585,430	$	59,141	$	2,379,336
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$	(3,828)	$	(87)	$	(319)	$	(2)	$	—	$	(4,236)


	Corporate Debt – Bank Debt		Corporate Debt – All Other		Equities – Common Stock		Equities – Preferred Stock		Real Estate		Total
Six months ended June 30, 2023
Beginning balance	$	702,497	$	219,503	$	777,198	$	616,604	$	74,471	$	2,390,273

Transfers into Level III	929		8,903		17,267		—		—		27,099
Transfers out of Level III	(4,641)		(978)		—		—		—		(5,619)
Purchases	621,785		1,723		50,958		40,419		13,721		728,606
Sales	(43,621)		(56,176)		(43,168)		(35,537)		—		(178,502)
Realized gain, net	148		(427)		21,250		9,010		(3)		29,978
Unrealized appreciation (depreciation), net	(14,463)		4,775		(13,829)		(11,812)		486		(34,843)
Ending balance	$	1,262,634	$	177,323	$	809,676	$	618,684	$	88,675	$	2,956,992
Net change in unrealized appreciation attributable to assets still held at end of period	$	(14,485)	$	4,753	$	(13,778)	$	(11,927)	$	488	$	(34,949)
Six months ended June 30, 2022
Beginning balance	$	597,188	$	229,576	$	581,748	$	486,030	$	33,834	$	1,928,376
Deconsolidation of funds	(33,428)		—		(456)		—		—		(33,884)
Transfers into Level III	87,252		5,354		—		—		—		92,606
Transfers out of Level III	(41,449)		(3,950)		(6)		—		—		(45,405)
Purchases	413,281		8,169		109,641		171,159		24,141		726,391
Sales	(164,240)		(24,432)		(106,369)		(91,191)		—		(386,232)
Realized losses, net	2,466		(19)		(121,983)		4		(827)		(120,359)
Unrealized depreciation, net	(10,391)		(13,074)		219,887		19,428		1,993		217,843
Ending balance	$	850,679	$	201,624	$	682,462	$	585,430	$	59,141	$	2,379,336
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$	(4,314)	$	(154)	$	(282)	$	(9)	$	2	$	(4,757)

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 undertook 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 June 30, 2023:

Investment Type

Fair Value

Valuation Technique

Significant Unobservable

Inputs (1)(2)

Range

Weighted Average (3)

Credit-oriented investments:

Consumer discretionary:

93,250

Discounted cash flow (4)

Discount rate

13% - 16%

14%

319

Recent market information (5)

Quoted prices

Not applicable

40,371

Recent transaction price (4)

Quoted prices

Not applicable

Energy

104,180

Recent transaction price (4)

Quoted prices

Not applicable

2,429

Recent market information (5)

Quoted prices

Not applicable

31,133

Discounted cash flow (4)

Discount rate

14% - 19%

17%

Financials

56,207

Market approach

(comparable companies) (7)

Multiple of underlying assets (9)

0.5x - 1x

0.95x

26,663

Discounted cash flow (6)

Discount rate

12% - 15%

15%

13,609

Recent market information (5)

Quoted prices

Not applicable

Industrials

45,682

Discounted cash flow (6)

Discount rate

12% - 16%

13%

26,185

Recent transaction price (4)

Quoted prices

Not applicable

35,540

Market approach

(comparable companies) (7)

Multiple of underlying assets (9)

0.9x - 1.1x

1.0x

Information technology

53,328

Discounted cash flow (6)

Discount rate

12% - 15%

13%

(91)

Recent market information (5)

Quoted prices

Not applicable

41,252

Recent transaction price (4)

Quoted prices

Not applicable

Materials

250,276

Discounted cash flow (6)

Discount rate

10% - 15%

12%

Real estate

42,372

Recent market information (7)

Quoted prices

Not applicable

116,171

Recent transaction price (4)

Quoted prices

Not applicable

6,422

Discounted cash flow (6)

Discount rate

9% - 9%

323,389

Market approach

(comparable companies) (7)

Multiple of underlying assets (9)

0.4x - 1x

0.9x

Other

(1,379)

Recent market information (5)

Quoted prices

Not applicable

110,114

Discounted cash flow (6)

Discount rate

11% - 18%

13%

2,921

Recent transaction price (4)

Quoted prices

Not applicable

19,615

Market approach

(comparable companies) (7)

Earnings multiple (10)

5x - 5x

Equity investments:

93,182

Recent transaction price (4)

Quoted prices

Not applicable

31,169

Recent market information (5)

Quoted prices

Not applicable

229,470

Discounted cash flow (6)

Discount rate

12% - 21%

19%

29,483

Discounted cash flow (6) / market approach (comparable companies) (7)

Discount rate

13% - 13%

13%

Earnings multiple (10)

7.0x - 9.0x

8.0x

75,163

Market approach

(comparable companies) (7)

Revenue multiple (8)

2.0x - 5.0x

3.3x

391,958

Market approach

(comparable companies) (7)

Earnings multiple (10)

5.0x - 10.0x

7.7x

577,934

Market approach

(comparable companies) (7)

Multiple of underlying assets (9)

0.9x - 1.1x

1.0x

Real estate-oriented investments:

88,675

Discounted cash flow (6)

Discount rate

18% - 27%

21%

Total Level III
investments

2,956,992

Investment Type

Fair Value

Valuation Technique

Significant Unobservable

Inputs (1)(2)

Range

Weighted Average (3)

Credit-oriented investments:

Consumer discretionary

43,934

Recent transaction price (4)

Quoted prices

Not applicable

293

Recent market information (5)

Quoted prices

Not applicable

16,062

Discounted cash flow (6)

Discount rate

12% – 15%

14%

Communication services

67,500

Discounted cash flow (6)

Discount rate

12% – 13%

13%

Energy

32,765

Discounted cash flow (6)

Discount rate

13% – 21%

18%

2,676

Recent market information (5)

Quoted prices

Not applicable

Financials

66,204

Discounted cash flow (6)

Discount rate

12% – 19%

15%

12,880

Recent market information (5)

Quoted prices

Not applicable

6,143

Market approach (comparable companies) (7)

Multiple of underlying assets (9)

0.9x - 1.0x

1.0x

Industrials

9,875

Discounted cash flow (6)

Discount rate

12% – 15%

14%

35,124

Market approach (comparable companies) (7)

Multiple of underlying assets (9)

0.9x - 1.0x

1.0x

4,527

Recent transaction price (4)

Quoted prices

Not applicable

Materials

197,427

Discounted cash flow (6)

Discount rate

10% – 14%

12%

Real estate

32,173

Recent transaction price (4)

Quoted prices

Not applicable

3,643

Discounted cash flow (6)

Discount rate

9% – 9%

302,179

Market approach (comparable companies) (7)

Multiple of underlying assets (9)

0.8x -1.0x

0.95x

35,525

Recent market information (5)

Quoted prices

Not applicable

Other

(1,137)

Recent market information (5)

Quoted prices

Not applicable

22,732

Recent transaction price (4)

Quoted prices

Not applicable

31,474

Discounted cash flow (6)

Discount rate

10% – 18%

14%

Equity investments:

74,329

Recent transaction price (4)

Quoted prices

Not applicable

582,299

Market approach (comparable companies) (7)

Multiple of underlying assets (9)

0.9x - 1.1x

1.0x

336,831

Market approach (comparable companies) (7)

Earnings multiple (10)

5x - 20x

214,172

Discounted cash flow (6)

Discount rate

12% – 21%

19%

83,644

Market approach (comparable companies) (7)

Revenue multiple (8)

1x - 2x

27,347

Discounted cash flow (6) / Market approach (comparable companies) (7)

Discount rate

14% – 14%

14%

75,181

Recent market information (5)

Quoted prices

Not applicable

Real estate-oriented:

7,695

Recent transaction price (4)

Quoted prices

Not applicable

66,776

Discounted cash flow (6)

Discount rate

14% – 25%

18%

Total Level III
investments

2,390,273

(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 issuer.

(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.

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 six months ended June 30, 2023, the valuation technique for a credit-oriented investment was changed from discounted cash flow to market approach (value of underlying assets). During the six months ended June 30, 2022, there were no changes in the valuation techniques for Level III securities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

FAIR VALUE - Consolidated Funds Summary of Changes in Fair Value of Level III Investments (Details) - Consolidated Funds - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 2,667,194	$ 2,412,701	$ 2,390,273	$ 1,928,376
Deconsolidation of funds		(33,884)		(33,884)
Transfers into Level III	21,519	86,787	27,099	92,606
Transfers out of Level III	(168)	(22,241)	(5,619)	(45,405)
Purchases	392,672	177,487	728,606	726,391
Sales	(115,215)	(277,358)	(178,502)	(386,232)
Realized gain (losses), net	8,322	5,154	29,978	(120,359)
Unrealized appreciation (depreciation), net	(17,332)	30,690	(34,843)	217,843
Ending balance	2,956,992	2,379,336	2,956,992	2,379,336
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(17,295)	(4,236)	(34,949)	(4,757)
Corporate Debt – Bank Debt
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	962,316	867,294	702,497	597,188
Deconsolidation of funds		(33,428)		(33,428)
Transfers into Level III	770	82,845	929	87,252
Transfers out of Level III	(168)	(20,766)	(4,641)	(41,449)
Purchases	342,977	62,126	621,785	413,281
Sales	(40,758)	(98,436)	(43,621)	(164,240)
Realized gain (losses), net	117	(422)	148	2,466
Unrealized appreciation (depreciation), net	(2,620)	(8,534)	(14,463)	(10,391)
Ending balance	1,262,634	850,679	1,262,634	850,679
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(2,498)	(3,828)	(14,485)	(4,314)
Corporate Debt – All Other
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	227,164	224,490	219,503	229,576
Deconsolidation of funds		0		0
Transfers into Level III	3,482	3,942	8,903	5,354
Transfers out of Level III	0	(1,475)	(978)	(3,950)
Purchases	1,066	6,207	1,723	8,169
Sales	(56,176)	(24,425)	(56,176)	(24,432)
Realized gain (losses), net	(199)	3	(427)	(19)
Unrealized appreciation (depreciation), net	1,986	(7,118)	4,775	(13,074)
Ending balance	177,323	201,624	177,323	201,624
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	1,964	(87)	4,753	(154)
Equities – Common Stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	809,809	690,278	777,198	581,748
Deconsolidation of funds		(456)		(456)
Transfers into Level III	17,267	0	17,267	0
Transfers out of Level III	0	0	0	(6)
Purchases	5,966	9,179	50,958	109,641
Sales	(17,967)	(63,306)	(43,168)	(106,369)
Realized gain (losses), net	8,382	6,396	21,250	(121,983)
Unrealized appreciation (depreciation), net	(13,781)	40,371	(13,829)	219,887
Ending balance	809,676	682,462	809,676	682,462
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	(13,729)	(319)	(13,778)	(282)
Equities – Preferred Stock
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	582,600	593,752	616,604	486,030
Deconsolidation of funds		0		0
Transfers into Level III	0	0	0	0
Transfers out of Level III	0	0	0	0
Purchases	36,228	79,781	40,419	171,159
Sales	(314)	(91,191)	(35,537)	(91,191)
Realized gain (losses), net	23	4	9,010	4
Unrealized appreciation (depreciation), net	147	3,084	(11,812)	19,428
Ending balance	618,684	585,430	618,684	585,430
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	32	(2)	(11,927)	(9)
Real Estate
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	85,305	36,887	74,471	33,834
Deconsolidation of funds		0		0
Transfers into Level III	0	0	0	0
Transfers out of Level III	0	0	0	0
Purchases	6,435	20,194	13,721	24,141
Sales	0	0	0	0
Realized gain (losses), net	(1)	(827)	(3)	(827)
Unrealized appreciation (depreciation), net	(3,064)	2,887	486	1,993
Ending balance	88,675	59,141	88,675	59,141
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$ (3,064)	$ 0	$ 488	$ 2

DERIVATIVES AND HEDGING - Balance Sheet Offsetting (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Derivative Assets:
Gross Amounts of Assets Presented	$ 11,014	$ 24,077
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	115	1,279
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	10,899	22,798
Derivative Liabilities:
Gross Amounts of Liabilities Presented	(23,379)	(35,862)
Gross Amounts Not Offset in Statements of Financial Condition,, Derivative Liabilities	(115)	(1,279)
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Pledged	0	0
Net Amount	(23,264)	(34,583)
Oaktree Capital Group Excluding Consolidated Funds \| Foreign-currency forward contracts
Derivative Assets:
Gross Amounts of Assets Presented	1,898	13,340
Gross Amounts Not Offset in Statements of Financial Condition, Derivative Assets	115	1,279
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Received	0	0
Net Amount	1,783	12,061
Derivative Liabilities:
Gross Amounts of Liabilities Presented	(2,137)	(11,840)
Gross Amounts Not Offset in Statements of Financial Condition,, Derivative Liabilities	(115)	(1,279)
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Pledged	0	0
Net Amount	(2,022)	(10,561)
Consolidated Funds
Derivative Assets:
Gross Amounts of Assets Presented	9,116	10,737
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	9,116	10,737
Derivative Liabilities:
Gross Amounts of Liabilities Presented	(21,242)	(24,022)
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	(21,242)	(24,022)
Consolidated Funds \| Foreign-currency forward contracts
Derivative Assets:
Gross Amounts of Assets Presented	2,189	9,758
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	2,189	9,758
Derivative Liabilities:
Gross Amounts of Liabilities Presented	(19,486)	(16,356)
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	(19,486)	(16,356)
Consolidated Funds \| Total-return and interest-rate and credit default swaps
Derivative Assets:
Gross Amounts of Assets Presented	6,130	700
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	6,130	700
Derivative Liabilities:
Gross Amounts of Liabilities Presented	(328)	(7,666)
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	(328)	(7,666)
Consolidated Funds \| Options and futures
Derivative Assets:
Gross Amounts of Assets Presented	797	279
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	797	279
Derivative Liabilities:
Gross Amounts of Liabilities Presented	(1,428)
Gross Amounts Not Offset in Statements of Financial Condition,, Derivative Liabilities	0
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Pledged	0
Net Amount	$ (1,428)
Consolidated Funds \| Warrants
Derivative Liabilities:
Gross Amounts of Liabilities Presented		0
Gross Amounts Not Offset in Statements of Financial Condition,, Derivative Liabilities		0
Gross Amounts Not Offset in Statements of Financial Condition, Cash Collateral Pledged
Net Amount		$ 0

EARNINGS PER UNIT - Computations of Net Income (Loss) Per Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income (loss) per Class A unit (basic and diluted):
Net income (loss) attributable to OCG Class A unitholders, basic	$ (6,335)	$ (21,356)	$ 32,594	$ (10,503)
Weighted average number of Class A units outstanding, diluted (in shares)	160,116	159,907	160,089	159,911
Basic net income (loss) per Class A unit (in dollars per share)	$ (0.06)	$ (0.21)	$ 0.31	$ (0.10)
Diluted net income (loss) per Class A unit (in dollars per share)	$ (0.06)	$ (0.21)	$ 0.31	$ (0.10)
Class A Units
Net income (loss) per Class A unit (basic and diluted):
Net income (loss) attributable to OCG Class A unitholders, basic	$ (6,335)	$ (21,356)	$ 32,594	$ (10,503)
Net income (loss) attributable to OCG Class A unitholders, diluted	$ (6,335)	$ (21,356)	$ 32,594	$ (10,503)
Weighted average number of Class A units outstanding, basic (in shares)	108,796	102,820	105,954	100,989
Weighted average number of Class A units outstanding, diluted (in shares)	108,796	102,820	105,954	100,989
Basic net income (loss) per Class A unit (in dollars per share)	$ (0.06)	$ (0.21)	$ 0.31	$ (0.10)
Diluted net income (loss) per Class A unit (in dollars per share)	$ (0.06)	$ (0.21)	$ 0.31	$ (0.10)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(25))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(27))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(23))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/exampleRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 52
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482635/260-10-55-52

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-7

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

COMMITMENTS AND CONTINGENCIES	6 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2023
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. As of June 30, 2023 and December 31, 2022, respectively, the aggregate of such amounts recorded at the fund level in excess of incentive income recognized by the Company was $1,725,372 and $1,800,000, for which related direct incentive income compensation expense was estimated to be $672,169 and $950,300, respectively. Commitments to Funds As of June 30, 2023 and December 31, 2022, the Company, generally in its capacity as general partner, had undrawn capital commitments of $415.6 million and $275.4 million, respectively, including commitments to both unconsolidated and consolidated funds. Additionally, as of June 30, 2023 the Company had undrawn capital commitments of $112.5 million in its capacity as a limited partner in Opps XI and undrawn commitments of $750.0 million in its capacity as a limited partner in Opps XII (Opps XI and Opps XII as defined in note 14). 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 June 30, 2023 and December 31, 2022, the consolidated funds had no potential aggregate commitments. A consolidated fund may agree to guarantee the repayment obligations of certain investee companies. As of June 30, 2023 and December 31, 2022, 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 six months ended June 30, 2023 and 2022, the consolidated funds did not provide any financial support to portfolio companies.

NON-CONTROLLING REDEEMABLE INTERESTS IN CONSOLIDATED FUNDS (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Non-Controlling Redeemable Interests in Consolidated Funds [Roll Forward]
Beginning balance	$ 2,182,414	$ 1,723,294
Deconsolidation of funds	0	(247,270)
Contributions	1,107,488	547,100
Distributions	(62,768)	(132,979)
Net income	88,305	66,850
Change in distributions payable	(317)	(15)
Foreign currency translation and other, net	816	(1,272)
Ending balance	$ 3,315,938	$ 1,955,708

FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value, by Balance Sheet Grouping

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.


	As of June 30, 2023								As of December 31, 2022
	Level I		Level II		Level III		Total		Level I		Level II		Level III		Total
Assets

Corporate investments	$	63,225	$	319,735	$	19,717	$	402,677	$	109,078	$	1,172	$	8,470	$	118,720
SPAC common stock and earn-out shares included in other assets	27,159		—		1,041		28,200		—		—		—		—
Foreign-currency forward contracts - included in corporate investments	—		1,898		—		1,898		—		1,279		—		1,279
Foreign-currency forward contracts - included in other assets	—		—		—		—		—		12,061		—		12,061

Total assets	$	90,384	$	321,633	$	20,758	$	432,775	$	109,078	$	14,512	$	8,470	$	132,060

Liabilities

Foreign-currency forward contracts - included in corporate investments	$	—	$	(115)	$	—	$	(115)	$	—	$	(11,840)	$	—	$	(11,840)
Foreign-currency forward contracts - included in other liabilities	—		(2,022)		—		(2,022)		—		—		—		—


Total liabilities	$	—	$	(2,137)	$	—	$	(2,137)	$	—	$	(11,840)	$	—	$	(11,840)

Schedule of Valuation Techniques and Quantitative Information

Fair Value as of

Significant Unobservable Input

Financial Instrument

June 30, 2023

Valuation Technique

Input Value

Mezzanine loan

18,155

Recent market information

Broker quotations

N/A

Earn-out shares

2,603

Black-Scholes option pricing model

Volatility

55%

Total Level III Financial Instruments

20,758

Investment Type

Fair Value

Valuation Technique

Significant Unobservable

Inputs (1)(2)

Range

Weighted Average (3)

Credit-oriented investments:

Consumer discretionary:

93,250

Discounted cash flow (4)

Discount rate

13% - 16%

14%

319

Recent market information (5)

Quoted prices

Not applicable

40,371

Recent transaction price (4)

Quoted prices

Not applicable

Energy

104,180

Recent transaction price (4)

Quoted prices

Not applicable

2,429

Recent market information (5)

Quoted prices

Not applicable

31,133

Discounted cash flow (4)

Discount rate

14% - 19%

17%

Financials

56,207

Market approach

(comparable companies) (7)

Multiple of underlying assets (9)

0.5x - 1x

0.95x

26,663

Discounted cash flow (6)

Discount rate

12% - 15%

15%

13,609

Recent market information (5)

Quoted prices

Not applicable

Industrials

45,682

Discounted cash flow (6)

Discount rate

12% - 16%

13%

26,185

Recent transaction price (4)

Quoted prices

Not applicable

35,540

Market approach

(comparable companies) (7)

Multiple of underlying assets (9)

0.9x - 1.1x

1.0x

Information technology

53,328

Discounted cash flow (6)

Discount rate

12% - 15%

13%

(91)

Recent market information (5)

Quoted prices

Not applicable

41,252

Recent transaction price (4)

Quoted prices

Not applicable

Materials

250,276

Discounted cash flow (6)

Discount rate

10% - 15%

12%

Real estate

42,372

Recent market information (7)

Quoted prices

Not applicable

116,171

Recent transaction price (4)

Quoted prices

Not applicable

6,422

Discounted cash flow (6)

Discount rate

9% - 9%

323,389

Market approach

(comparable companies) (7)

Multiple of underlying assets (9)

0.4x - 1x

0.9x

Other

(1,379)

Recent market information (5)

Quoted prices

Not applicable

110,114

Discounted cash flow (6)

Discount rate

11% - 18%

13%

2,921

Recent transaction price (4)

Quoted prices

Not applicable

19,615

Market approach

(comparable companies) (7)

Earnings multiple (10)

5x - 5x

Equity investments:

93,182

Recent transaction price (4)

Quoted prices

Not applicable

31,169

Recent market information (5)

Quoted prices

Not applicable

229,470

Discounted cash flow (6)

Discount rate

12% - 21%

19%

29,483

Discounted cash flow (6) / market approach (comparable companies) (7)

Discount rate

13% - 13%

13%

Earnings multiple (10)

7.0x - 9.0x

8.0x

75,163

Market approach

(comparable companies) (7)

Revenue multiple (8)

2.0x - 5.0x

3.3x

391,958

Market approach

(comparable companies) (7)

Earnings multiple (10)

5.0x - 10.0x

7.7x

577,934

Market approach

(comparable companies) (7)

Multiple of underlying assets (9)

0.9x - 1.1x

1.0x

Real estate-oriented investments:

88,675

Discounted cash flow (6)

Discount rate

18% - 27%

21%

Total Level III
investments

2,956,992

Investment Type

Fair Value

Valuation Technique

Significant Unobservable

Inputs (1)(2)

Range

Weighted Average (3)

Credit-oriented investments:

Consumer discretionary

43,934

Recent transaction price (4)

Quoted prices

Not applicable

293

Recent market information (5)

Quoted prices

Not applicable

16,062

Discounted cash flow (6)

Discount rate

12% – 15%

14%

Communication services

67,500

Discounted cash flow (6)

Discount rate

12% – 13%

13%

Energy

32,765

Discounted cash flow (6)

Discount rate

13% – 21%

18%

2,676

Recent market information (5)

Quoted prices

Not applicable

Financials

66,204

Discounted cash flow (6)

Discount rate

12% – 19%

15%

12,880

Recent market information (5)

Quoted prices

Not applicable

6,143

Market approach (comparable companies) (7)

Multiple of underlying assets (9)

0.9x - 1.0x

1.0x

Industrials

9,875

Discounted cash flow (6)

Discount rate

12% – 15%

14%

35,124

Market approach (comparable companies) (7)

Multiple of underlying assets (9)

0.9x - 1.0x

1.0x

4,527

Recent transaction price (4)

Quoted prices

Not applicable

Materials

197,427

Discounted cash flow (6)

Discount rate

10% – 14%

12%

Real estate

32,173

Recent transaction price (4)

Quoted prices

Not applicable

3,643

Discounted cash flow (6)

Discount rate

9% – 9%

302,179

Market approach (comparable companies) (7)

Multiple of underlying assets (9)

0.8x -1.0x

0.95x

35,525

Recent market information (5)

Quoted prices

Not applicable

Other

(1,137)

Recent market information (5)

Quoted prices

Not applicable

22,732

Recent transaction price (4)

Quoted prices

Not applicable

31,474

Discounted cash flow (6)

Discount rate

10% – 18%

14%

Equity investments:

74,329

Recent transaction price (4)

Quoted prices

Not applicable

582,299

Market approach (comparable companies) (7)

Multiple of underlying assets (9)

0.9x - 1.1x

1.0x

336,831

Market approach (comparable companies) (7)

Earnings multiple (10)

5x - 20x

214,172

Discounted cash flow (6)

Discount rate

12% – 21%

19%

83,644

Market approach (comparable companies) (7)

Revenue multiple (8)

1x - 2x

27,347

Discounted cash flow (6) / Market approach (comparable companies) (7)

Discount rate

14% – 14%

14%

75,181

Recent market information (5)

Quoted prices

Not applicable

Real estate-oriented:

7,695

Recent transaction price (4)

Quoted prices

Not applicable

66,776

Discounted cash flow (6)

Discount rate

14% – 25%

18%

Total Level III
investments

2,390,273

(3) The weighted average is based on the fair value of the investments included in the range.

(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 issuer.

Schedule of Valuation of Investments and Other Financial Instruments

The table below summarizes the investments and other financial instruments of the consolidated funds by fair-value hierarchy level:


	As of June 30, 2023								As of December 31, 2022
	Level I		Level II		Level III		Total		Level I		Level II		Level III		Total
Assets
Investments:
Corporate debt – bank debt	$	—	$	459,775	$	1,262,634	$	1,722,409	$	—	$	411,997	$	702,497	$	1,114,494
Corporate debt – all other	—		873,035		177,323		1,050,358		—		764,841		219,503		984,344
Equities – common stock	206,134		30,366		809,676		1,046,176		226,862		34,389		777,198		1,038,449
Equities – preferred stock	1,140		—		618,684		619,824		80,251		—		616,604		696,855
Real estate	—		—		88,675		88,675		—		—		74,471		74,471
Total investments	207,274		1,363,176		2,956,992		4,527,442		307,113		1,211,227		2,390,273		3,908,613
Derivatives:
Foreign-currency forward contracts	—		2,189		—		2,189		—		9,758		—		9,758
Swaps	5,543		587		—		6,130		—		700		—		700
Options and futures	797		—		—		797		279		—		—		279
Total derivatives (1)	6,340		2,776		—		9,116		279		10,458		—		10,737
Total assets	$	213,614	$	1,365,952	$	2,956,992	$	4,536,558	$	307,392	$	1,221,685	$	2,390,273	$	3,919,350

Liabilities






Derivatives:
Foreign-currency forward contracts	$	—	$	(19,486)	$	—	$	(19,486)	$	—	$	(16,356)	$	—	$	(16,356)
Swaps	—		(328)		—		(328)		(7,666)		—		—		(7,666)
Options and futures	(1,428)		—		—		(1,428)		—		—		—		—

Total derivatives (3)	(1,428)		(19,814)		—		(21,242)		(7,666)		(16,356)		—		(24,022)
Total liabilities	$	(1,428)	$	(19,814)	$	—	$	(21,242)	$	(7,666)	$	(16,356)	$	—	$	(24,022)

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		Total
Three months ended June 30, 2023
Beginning balance	$	962,316	$	227,164	$	809,809	$	582,600	$	85,305	$	2,667,194

Transfers into Level III	770		3,482		17,267		—		—		21,519
Transfers out of Level III	(168)		—		—		—		—		(168)
Purchases	342,977		1,066		5,966		36,228		6,435		392,672
Sales	(40,758)		(56,176)		(17,967)		(314)		—		(115,215)
Realized gain (losses), net	117		(199)		8,382		23		(1)		8,322
Unrealized appreciation (depreciation), net	(2,620)		1,986		(13,781)		147		(3,064)		(17,332)
Ending balance	$	1,262,634	$	177,323	$	809,676	$	618,684	$	88,675	$	2,956,992
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$	(2,498)	$	1,964	$	(13,729)	$	32	$	(3,064)	$	(17,295)
Three months ended June 30, 2022
Beginning balance	$	867,294	$	224,490	$	690,278	$	593,752	$	36,887	$	2,412,701
Deconsolidation of funds	(33,428)		—		(456)		—		—		(33,884)
Transfers into Level III	82,845		3,942		—		—		—		86,787
Transfers out of Level III	(20,766)		(1,475)		—		—		—		(22,241)
Purchases	62,126		6,207		9,179		79,781		20,194		177,487
Sales	(98,436)		(24,425)		(63,306)		(91,191)		—		(277,358)
Realized losses, net	(422)		3		6,396		4		(827)		5,154
Unrealized appreciation (depreciation), net	(8,534)		(7,118)		40,371		3,084		2,887		30,690
Ending balance	$	850,679	$	201,624	$	682,462	$	585,430	$	59,141	$	2,379,336
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$	(3,828)	$	(87)	$	(319)	$	(2)	$	—	$	(4,236)


	Corporate Debt – Bank Debt		Corporate Debt – All Other		Equities – Common Stock		Equities – Preferred Stock		Real Estate		Total
Six months ended June 30, 2023
Beginning balance	$	702,497	$	219,503	$	777,198	$	616,604	$	74,471	$	2,390,273

Transfers into Level III	929		8,903		17,267		—		—		27,099
Transfers out of Level III	(4,641)		(978)		—		—		—		(5,619)
Purchases	621,785		1,723		50,958		40,419		13,721		728,606
Sales	(43,621)		(56,176)		(43,168)		(35,537)		—		(178,502)
Realized gain, net	148		(427)		21,250		9,010		(3)		29,978
Unrealized appreciation (depreciation), net	(14,463)		4,775		(13,829)		(11,812)		486		(34,843)
Ending balance	$	1,262,634	$	177,323	$	809,676	$	618,684	$	88,675	$	2,956,992
Net change in unrealized appreciation attributable to assets still held at end of period	$	(14,485)	$	4,753	$	(13,778)	$	(11,927)	$	488	$	(34,949)
Six months ended June 30, 2022
Beginning balance	$	597,188	$	229,576	$	581,748	$	486,030	$	33,834	$	1,928,376
Deconsolidation of funds	(33,428)		—		(456)		—		—		(33,884)
Transfers into Level III	87,252		5,354		—		—		—		92,606
Transfers out of Level III	(41,449)		(3,950)		(6)		—		—		(45,405)
Purchases	413,281		8,169		109,641		171,159		24,141		726,391
Sales	(164,240)		(24,432)		(106,369)		(91,191)		—		(386,232)
Realized losses, net	2,466		(19)		(121,983)		4		(827)		(120,359)
Unrealized depreciation, net	(10,391)		(13,074)		219,887		19,428		1,993		217,843
Ending balance	$	850,679	$	201,624	$	682,462	$	585,430	$	59,141	$	2,379,336
Net change in unrealized appreciation (depreciation) attributable to assets still held at end of period	$	(4,314)	$	(154)	$	(282)	$	(9)	$	2	$	(4,757)

INVESTMENTS - Equity-method Investments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statements of Operations
Interest expense	$ (12,161)	$ (57,849)	$ (28,710)	$ (97,040)
Net realized and unrealized gain (loss) on investments			24,410	(100,092)
Net income (loss)	256,988	(359,425)	1,371,440	1,192,699
Equity Method Investment, Nonconsolidated Investee or Group of Investees
Statements of Operations
Revenues / investment income	1,064,494	789,232	2,241,125	1,629,837
Interest expense	(136,034)	(70,880)	(284,000)	(125,170)
Other expenses	(231,153)	(181,318)	(470,951)	(402,309)
Net realized and unrealized gain (loss) on investments	$ (440,319)	$ (896,459)	$ (114,734)	$ 90,341
Maximum \| Oaktree Funds
Schedule of Equity Method Investments [Line Items]
Ownership percentage	2.50%		2.50%

DEBT OBLIGATIONS AND CREDIT FACILITIES

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

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.


	As of
	June 30, 2023		December 31, 2022
Senior unsecured notes
€50,000, 2.20%, issued in June 2022, payable on June 8, 2032	$	54,442	$	53,362
€75,000, 2.40%, issued in June 2022, payable on June 8, 2034	81,664		80,044
€75,000, 2.58%, issued in June 2022, payable on June 8, 2037	81,664		80,044
Total remaining principal	217,770		213,450
Less: Debt issuance costs	(1,309)		(1,255)
Total debt obligations, net	$	216,461	$	212,195

Oaktree Capital I Guaranty Agreements

As of June 30, 2023, 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. Prior to 2022, OCM had historically been the only direct borrower or issuer under credit agreements and private placement notes with third parties and made all payments of principal and interest. The Company’s financial statements after the 2019 Restructuring generally do not reflect debt obligations, interest expense or related liabilities associated with OCM, Oaktree Capital II and Oaktree AIF. Subsequent to the 2022 Restructuring, the Company’s financial statements no longer reflect debt obligations, interest expense or related liabilities associated with OCM, OCM Cayman, Oaktree Capital II and Oaktree AIF.

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 amendments took effect, OCM Cayman became a co-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, 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 will not be included in the Company’s financial statements unless an event of default occurs.

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 will not reflect debt obligations, interest expense or related liabilities associated with the subordinated credit facility until such time as Oaktree Capital I 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. No amounts were outstanding on the subordinated credit facility as of June 30, 2023.

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, along with Oaktree Capital II, Oaktree AIF and OCM Cayman, 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 will not be included in the Company’s financial statements unless an event of default occurs.

Oaktree’s 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 additional years, and implemented language consistent with U.S. syndicated loan market practice to use an adjusted forward-looking term rate based on the secured overnight financing rate (“SOFR”), as a replacement for the London Interbank Offered Rate. Based on the current credit ratings of OCM, the interest rate on borrowings is the term SOFR reference rate plus 1.10% per annum and the commitment fee on the unused portions of the revolving credit facility is 0.10% per annum. The term SOFR reference rate is determined by the tenor of the borrowings and set by the CME Group Benchmark Administration Limited (CBA).

The credit agreement contains customary financial covenants and restrictions, including a maximum leverage ratio and a minimum required level of assets under management (as defined in the credit agreement, as amended above). As of June 30, 2023, no amounts were outstanding under the revolving credit facility.

OCM and the Company were in compliance with all financial maintenance covenants associated with its senior notes and bank credit facility as of June 30, 2023 and December 31, 2022, respectively. As of June 30, 2023, Oaktree Capital I is jointly and severally liable, along with its co-obligors, for the debt obligations listed below with an aggregate outstanding principal balance of $1.1 billion. The Company’s maximum exposure to these debt

obligations is set forth below:


	As of
	June 30, 2023		December 31, 2022
Senior unsecured notes

$50,000, 3.91%, issued in September 2014, payable on September 3, 2024	$	50,000	$	50,000
$100,000, 4.01%, issued in September 2014, payable on September 3, 2026	100,000		100,000
$100,000, 4.21%, issued in September 2014, payable on September 3, 2029	100,000		100,000
$100,000, 3.69%, issued in July 2016, payable on July 12, 2031	100,000		100,000
$250,000, 3.78%, issued in December 2017, payable on December 18, 2032	250,000		250,000
$200,000, 3.64%, issued in July 2020, payable on July 22, 2030	200,000		200,000
$50,000, 3.84%, issued in July 2020, payable on July 22, 2035	50,000		50,000
$200,000, 3.06%, issued in January 2022, payable on January 12, 2037	200,000		200,000

Total remaining principal	$	1,050,000	$	1,050,000

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 June 30, 2023
Credit Agreement	June 30, 2023		December 31, 2022		Facility Capacity		Effective Interest Rate	Weighted Average Remaining Maturity (years)	Commitment Fee Rate	L/C Fee
Revolving credit facility (1)	$	310,454	$	1,000,859	$	1,162,742	6.86%	0.13	0.20%	1.52%


Less: Debt issuance costs	(260)		(1,972)
Total debt obligations, net (2)	$	310,194	$	998,887

(1) The credit facility capacity is calculated on a pro rata basis using fund commitments as of June 30, 2023.

(2) Debt issuance costs are included in other assets as of June 30, 2023 and December 31, 2022.

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 restricti

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

INVESTMENTS - Other Investments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Schedule of Investments [Line Items]
Realized gain	$ 30,701	$ 16,126	$ 62,381	$ (73,099)
Net change in unrealized gain (loss)	(12,789)	(155,352)	(37,971)	(26,993)
Total gain (loss)			24,410	(100,092)
Other Investments at Fair Value
Schedule of Investments [Line Items]
Realized gain	1,082	835	2,151	744
Net change in unrealized gain (loss)	(31,693)	3,672	(7,159)	1,897
Total gain (loss)	$ (30,611)	$ 4,507	$ (5,008)	$ 2,641

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column A)(Footnote 2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A)(Footnote 4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column A)(Footnote 1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column A)(Footnote 2)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column A)(Footnote 2)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column A)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column B)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 8))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 8)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 8)(a)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 8)(a)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 8)(b)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 8)(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 8)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12(Column C)(Footnote 10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column D))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A)(Footnote 1)(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A)(Footnote 1)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A)(Footnote 3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 32: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A)(Footnote 4)(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A)(Footnote 6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 35: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column A)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column B)(Footnote 10))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 38: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 11))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 39: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 11)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 11)(a)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 41: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 11)(a)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 42: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 11)(b)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 43: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 11)(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 44: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 11)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 45: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 12))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 46: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-12B(Column C)(Footnote 13))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3

Reference 47: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 48: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 49: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 50: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 1)(a)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 51: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 1)(a)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 52: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 1)(a)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 53: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 54: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 55: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b)(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 56: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 57: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 1)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 58: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column A)(Footnote 3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 59: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 60: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 5)(a))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 61: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 62: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 8))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 63: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14(Column F)(Footnote 9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6

Reference 64: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 19
-Subparagraph (1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-19

Reference 65: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 19
-Subparagraph (3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-19

+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Jun. 30, 2023
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Incentive income compensation vesting period	5 years
Closed-end
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of fund profits	20.00%
Percentage of preferred return on funds	8.00%
Evergreen
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Percentage of fund profits	20.00%
Minimum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Withdrawal period	1 month
Maximum
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Withdrawal period	3 years

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2023
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. 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” 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 2022 Restructuring, the Company no longer controls OCM Cayman and therefore OCM Cayman was deconsolidated as of the Effective Date. Additionally, the Company concluded that it was no longer the primary beneficiary for CLOs as their direct ownership interests are held by OCM Cayman. Certain entities in which the Company has the ability to exert significant influence, including unconsolidated Oaktree funds for which the Company acts as general partner, 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. 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. Please see note 10 for more information. 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 requires 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, are 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. 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. 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 June 30, 2023 and December 31, 2022, 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. Corporate Investments Corporate investments may consist 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. Investments for which the Company is deemed to exert significant influence are accounted for under the equity method of accounting and reflect Oaktree’s ownership interest in each fund or company. In the case of investments for which the Company is not deemed to exert significant influence or control, the fair value option of accounting has been elected. Investment income represents the Company’s pro-rata share of income or loss from these funds or companies, or the change in fair value of the investment, as applicable. Oaktree’s general partnership interests are substantially illiquid. While 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 rating 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 The Company earns incentive income from the investment advisory services it provides to its customers. Revenue is recognized when control of the promised services is 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 the Company 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. The Company may receive 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. The Company may earn incentive income upon deconsolidation of a SPAC arising from the completion of a merger with an identified target. Upon deconsolidation, the Company will derecognize the net assets of the entity and record 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 the Company’s investments held in the entity will be recorded in investment income in its condensed consolidated statements of operations. Total Compensation and Benefits Incentive Income Compensation Incentive income compensation expense primarily reflects 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. Other Income (Expense), Net Other income (expense), net represents non-operating income or expense items. 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. Accounting Policies of Consolidated Funds 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. 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. 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. 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. 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 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 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 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 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 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 Certain consolidated funds invest primarily in the securities of entities that are undergoing, or are considered likely to undergo, reorganization, debt restructuring, liquidation 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 negotiations 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. Effects of 2022 Restructuring As a result of the 2022 Restructuring, including the deconsolidation of OCM Cayman and reconsideration of the primary beneficiary of the CLOs, certain accounts related to OCM Cayman and the CLOs are no longer included in the Company’s consolidated financial statements for the six months ended June 30, 2023. The effects of the 2022 Restructuring are summarized as follows: •The Company’s management fees consisted primarily of fees earned from funds managed by OCM Cayman and sub-advisory fees for services provided to OCM. Subsequent to the 2022 Restructuring, the Company no longer earns management or sub-advisory fees. •Since the Company’s employees were all employees of OCM Cayman, the Company no longer incurs compensation and benefits expense that is not directly related to incentive income (including salaries, bonuses, compensation based on management fees or a definition of profits, employee benefits, payroll taxes, phantom equity awards, and awards under the long-term incentive plan) or equity-based compensation expense. Compensation and benefits expense subsequent to the 2022 Restructuring represents compensation to our board of directors. •All of the Company’s lease contracts were obligations of OCM Cayman or its subsidiaries. Accordingly, the Company no longer incurs lease associated costs and no longer reflects right-of-use assets or operating lease liabilities in its statement of financial condition. •The Company’s furniture and equipment, capitalized software and office leasehold improvements were all associated with OCM Cayman and deconsolidated in conjunction with the 2022 Restructuring. Accordingly, the Company no longer recognizes depreciation or amortization expense. •While Oaktree Capital I is a non-corporate entity that is not subject to U.S. federal corporate income tax, OCM Cayman has certain subsidiaries that are taxable in non-U.S. jurisdictions. Subsequent to the 2022 Restructuring, the tax balances related to OCM Cayman were deconsolidated and the Company will no longer incur income tax expense. •Since OCM Cayman included the Company’s foreign subsidiaries with non-U.S. dollar functional currencies, the Company no longer has foreign operations. Prior to the 2022 Restructuring, translation adjustments were included in other comprehensive income (loss) within the condensed consolidated statements of operations. •The Company no longer consolidates the financial assets and liabilities of the CLOs as their direct ownership interests are held by OCM Cayman. Prior to the 2022 Restructuring, the Company had elected the fair value option for the financial assets and financial liabilities of the consolidated CLOs, which were primarily reflected within investments, at fair value and within debt obligations of CLOs line items in the condensed consolidated statements of financial condition. See Part II, Item 8, Note 2 and Note 11 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on March 21, 2023 for disclosure of the Company’s accounting policies with respect to (i) revenue recognition for management fees, (ii) compensation and benefits, including equity-based compensation; (iii) leases; (iv) depreciation and amortization; (v) income taxes; (vi) foreign currency translation; and (vii) election of the fair value option and related measurement of the financial assets and liabilities of the CLOs. Recent Accounting Developments In June 2022, the FASB issued ASU 2022-03, Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restrictions. The amendments in this update clarify the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual sale restrictions and introduce new disclosure requirements related to such equity securities. The amendments are effective for fiscal years beginning after December 15, 2023, with early adoption permitted. The Company is currently evaluating the impact of this guidance on its condensed consolidated financial statements. 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. The Company has not adopted any of the optional expedients or exceptions through June 30, 2023, but will continue to evaluate the possible adoption (including potential impact) of any such expedients or exceptions during the effective period as circumstances evolve.

RELATED-PARTY TRANSACTIONS

6 Months Ended

Jun. 30, 2023

RELATED-PARTY TRANSACTIONS

RELATED-PARTY TRANSACTIONS The Company considers its senior executives, 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 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
	June 30, 2023		December 31, 2022
Due from affiliates:


Management fees and incentive income due from unconsolidated funds and affiliates	$	120	$	203,178
Receivable from unconsolidated entities	34,966		4,696

Total due from affiliates	$	35,086	$	207,874
Due to affiliates:

Amounts due to unconsolidated entities	$	77,411	$	36,164

Total due to affiliates	$	77,411	$	36,164

Loans To Affiliates and Employees

Loans primarily consist of interest-bearing loans made to affiliates and interest-bearing loans made to certain Oaktree employees to meet tax obligations related to the purchase or vesting of equity awards.

On May 7, 2021 the Company, through its 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 allow for outstanding principal amounts not to exceed $250 million and mature 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. Loans outstanding on February 17, 2023 from Oaktree Capital I to OCM under the revolving line of credit notes were reclassified as loans under the intercompany loan agreement.

As of June 30, 2023, OCM had borrowed $31.0 million from the Company through Oaktree Capital I and generated $201 interest income for the three and six months ended June 30, 2023. As of June 30, 2023, the Company through Oaktree Capital I has borrowed $50.0 million from OCM and incurred $137 and $306 interest expense for the three and six months ended June 30, 2023, respectively.

There were no loans to affiliates as of December 31, 2022 and no interest income was generated for the three and six months ended June 30, 2022. As of December 31, 2022, the Company through Oaktree Capital I had borrowed $36.0 million from OCM and incurred $17 and $152 interest expense for the three and six months ended June 30, 2022, respectively.

Due From Oaktree Funds

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. Certain expenses paid by the Company, which typically are employee travel and other costs associated with particular portfolio company holdings, are reimbursed to the Company by the portfolio companies. In addition, the Company recognizes 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

In aggregate, management fees and incentive income earned from unconsolidated Oaktree funds totaled $2.1 million and $61.5 million for the three and six months ended June 30, 2023, respectively, and $116.6 million and $179.6 million for the three and six months ended June 30, 2022, respectively.

Subsequent to the 2022 Restructuring, the Company no longer earns management fees as a result of the deconsolidation of OCM Cayman.

Aircraft Services

OCM owns an aircraft for business purposes. Howard Marks, the Company’s Co-Chairman, may use this aircraft for personal travel and will reimburse OCM to the extent his use of the aircraft for personal travel exceeds a

certain threshold pursuant to an Oaktree policy. Oaktree also provides certain senior executives a personal travel allowance for private aircraft usage up to a certain threshold pursuant to the same Oaktree policy. Additionally, Oaktree occasionally makes use of an aircraft owned by one of its senior executives for business purposes at a price to Oaktree that is based on market rates.

Special Allocations

Certain senior executives 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 they 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 will reimburse 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.

The Company incurred administrative services expense of $0.2 million and $0.4 million for the three and six months ended June 30, 2023, respectively, and $0.2 million and $0.4 million for the three and six months ended June 30, 2022, 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 generally will not reflect debt obligations, interest expense or related liabilities associated with its operating subsidiaries until such time as Oaktree Capital I directly borrows 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. No amounts were outstanding on the subordinated credit facility as of June 30, 2023.

Investment in Oaktree Opportunities Fund XI

The Company has subscribed for a limited partner interest in, and made a capital commitment of, $750 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 six months ended June 30, 2023, the Company funded $262.5 million of its capital commitment. As of June 30, 2023, the Company has funded in the aggregate $637.5 million of the $750 million of its committed capital.

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 dividends or redemption of the preferred units.

Deposit Agreement with Brookfield

On May 1, 2023, Brookfield Asset Management ULC (“BAM ULC”) and OCM, Oaktree Capital I, Oaktree Capital II, OCM Cayman, Oaktree AIF and Oaktree Investment Holdings, L.P. (collectively, the “Oaktree Depositors”) entered into a deposit agreement under which each of the Oaktree Depositors has the ability to place up to $750 million in the aggregate (subject in the case of Oaktree Capital I to a sub-limit of $200 million) at any time on deposit with BAM ULC. This deposit arrangement is set up to facilitate a more efficient use of cash across the Brookfield family of companies and provides Oaktree with the option to deposit excess operational cash.

Oaktree can deposit cash from time to time, subject to the aggregate limits, and can withdraw deposited funds on two business days’ notice. Each deposit will earn interest on the outstanding principal amount at an agreed rate. There is no set maturity on any deposit balance.

As of June 30, 2023, OCM has $200 million on deposit with BAM ULC. There is no impact to the Company’s financial statement as of June 30, 2023.

Non-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 below) 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 OCG NTR Holdings, LLC, a wholly owned subsidiary of the Company (“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 on June 27, 2023 (the “Purchase Price”) and a true-up payment 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 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.

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.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483326/850-10-50-1

+ Details

ORGANIZATION AND BASIS OF PRESENTATION (Details)	6 Months Ended	38 Months Ended
ORGANIZATION AND BASIS OF PRESENTATION (Details)	Jun. 30, 2023 vote entity	Nov. 30, 2022 entity
Class of Stock [Line Items]
Number operating entities \| entity	6
Number of operating entities \| entity		2
Class A Units
Class of Stock [Line Items]
Number of votes per share \| vote	1
Class B Units
Class of Stock [Line Items]
Number of votes per share \| vote	10

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

UNITHOLDERS' CAPITAL - Changes in Company Ownership Interest (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Stockholders' Equity Note [Abstract]
Net income (loss) attributable to OCG Class A unitholders, basic	$ (6,335)	$ (21,356)	$ 32,594	$ (10,503)
Equity reallocation between controlling and non-controlling interests	37,353	33,309	35,082	47,584
Change from net income (loss) attributable to OCG Class A unitholders and transfers from non-controlling interests	$ 31,018	$ 11,953	$ 67,676	$ 37,081

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SAB Topic 6.B)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-5

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-10

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-11

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

+ Details

INCOME TAXES AND RELATED PAYMENTS	6 Months Ended
INCOME TAXES AND RELATED PAYMENTS	Jun. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES AND RELATED PAYMENTS	INCOME TAXES AND RELATED PAYMENTS The Company is a publicly traded partnership and as a result of the 2019 Restructuring, held interests in Oaktree Capital I (a non-corporate entity that is not subject to U.S. federal corporate income tax) and OCM Cayman (which holds subsidiaries that are taxable in non-U.S. jurisdictions). Subsequent to the 2022 Restructuring, however, the Company no longer consolidates OCM Cayman. All tax balances related to OCM Cayman were therefore deconsolidated as of the Effective Date of the 2022 Restructuring and the Company will no longer incur income expense. 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 2019. 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.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

VARIABLE INTEREST ENTITIES (Tables)

6 Months Ended

Jun. 30, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Variable Interest Entities

The carrying value of the Company’s investments in VIEs that were not consolidated are shown below.


	Carrying Value as of
	June 30, 2023		December 31, 2022

Corporate investments	$	995,401	$	976,569
Due from affiliates	84		200,498
Maximum exposure to loss	$	995,485	$	1,177,067

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income (loss)	$ 47,110	$ (59,771)	$ 140,302	$ 53,852
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(1,498)	9,389	(1,534)	8,796
Other comprehensive income (loss), net of tax	(1,498)	9,389	(1,534)	8,796
Total comprehensive income (loss)	45,612	(50,382)	138,768	62,648
Comprehensive income (loss) attributable to OCG	(492)	(8,700)	45,244	8,615
Comprehensive income attributable to preferred unitholders	(6,829)	(6,829)	(13,658)	(13,658)
Comprehensive income (loss) attributable to OCG Class A unitholders	(7,321)	(15,529)	31,586	(5,043)
Consolidated Funds
Other comprehensive income (loss), net of tax:
Less: Comprehensive (income) loss attributable to non-controlling interest	(60,571)	32,093	(88,305)	(66,850)
Consolidated Subsidiaries
Other comprehensive income (loss), net of tax:
Less: Comprehensive (income) loss attributable to non-controlling interest	$ 14,467	$ 9,589	$ (5,219)	$ 12,817

RELATED-PARTY TRANSACTIONS - Additional Information (Details)						3 Months Ended		6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 31, 2023 USD ($)	Jun. 29, 2023 USD ($)	Jun. 27, 2023 USD ($)	May 22, 2023 USD ($)	Oct. 01, 2019 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	May 01, 2023 USD ($)	Mar. 31, 2023 USD ($)	May 07, 2021 USD ($) vote
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revenues						$ 2,072,000	$ 116,583,000	$ 61,473,000	$ 179,613,000
Administrative expenses						179,000	6,259,000	2,103,000	11,297,000
Administrative Service
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Reimbursable expenses payable					$ 750,000
Termination period (in days)					90 days
Revolving credit facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Borrowings under credit facilities						0		0		$ 0
Related Party \| Brookfield Deposit Agreement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deposit agreement deposit, aggregate												$ 750,000,000
Deposit agreement deposit, sub-Limit												$ 200,000,000
Amount on deposit						200,000,000		200,000,000		200,000,000
Related Party \| Brookfield Corporate Treasury Ltd. (“Treasury”) \| Non-Traded REIT Acquisition
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Capital commitment		$ 200,000,000
Related Party \| Revolving credit facility \| Subordinated Credit Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Credit facility						250,000,000		250,000,000		250,000,000
Borrowings under credit facilities													$ 0
Related Party \| Oaktree Opportunities Fund XI, L.P. \| Investment In Oaktree Opportunities Fund XI
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Capital commitment								750,000,000
Funding made towards acquiring investment								262,500,000		$ 637,500,000
Related Party \| Oaktree Opportunities Fund XII, L.P. \| Revolving Line Of Credit Note With Oaktree Capital Management L.P.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Capital commitment				$ 750,000,000
Related Party \| OCG NTR Holdings \| Non-Traded REIT Acquisition
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Funding made towards acquiring investment			$ 307,000,000
Related Party \| OCG NTR Holdings \| Non-Traded REIT Acquisition \| Subsequent Event
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Funding made towards acquiring investment	$ 13,900,000
Related Party \| OCG NTR Holdings \| Non-Traded REIT Acquisition
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Business acquisition, percentage of voting interests acquired			100.00%
Affiliates \| Administrative Service
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Administrative expenses						200,000	200,000	400,000	400,000
Affiliates \| Revolving credit facility \| Oaktree Capital I L P \| Credit Agreement \| Oaktree Capital Management, L.P.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of debt instruments \| vote														2
Credit facility														$ 250,000,000
Affiliates \| Revolving credit facility \| Oaktree Capital I L P \| Credit Agreement \| Oaktree Capital Management, L.P. \| Revolving Line Of Credit Note With Oaktree Capital Management L.P.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest income						137,000	17,000	306,000	152,000
Affiliates \| Revolving credit facility \| Oaktree Capital Management, L.P. \| Credit Agreement \| Revolving Line Of Credit Note With Oaktree Capital Management L.P.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from related party debt								31,000,000			$ 36,000,000
Affiliates \| Revolving credit facility \| Oaktree Capital Management, L.P. \| Credit Agreement \| Oaktree Capital Management, L.P.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest income						201,000		201,000
Affiliates \| Revolving credit facility \| Oaktree Capital Management, L.P. \| Credit Agreement \| Oaktree Capital Management, L.P. \| Revolving Line Of Credit Note With Oaktree Capital Management L.P.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Proceeds from related party debt								50,000,000
Affiliates \| Oaktree Capital Group Excluding Consolidated Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revenues						$ 2,100,000	$ 116,600,000	$ 61,500,000	$ 179,600,000

REVENUES (Tables)

6 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Revenue Disaggregated by Fund Structure

Revenues by fund structure and sub-advisory fees are set forth below.


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Management Fees
Closed-end	$	—	$	1,462	$	—	$	2,844
Open-end	—		1,339		—		2,709

Sub-advisory fees	—		60,278		—		117,957
Total	$	—	$	63,079	$	—	$	123,510

	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Incentive Income
Closed-end	$	1,864	$	53,345	$	60,963	$	55,600
Evergreen	208		159		510		503
Total	$	2,072	$	53,504	$	61,473	$	56,103

Schedule of Contract Balances

The table below sets forth contract balances for the periods indicated:


	As of
	June 30, 2023		December 31, 2022

Receivables	$	120	$	8,471
Contract assets (1)	—		194,707

(1) The changes in the balances primarily relate to accruals, net of payments received.

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2023	Aug. 10, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-35500
Entity Registrant Name	Oaktree Capital Group, 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	2023
Document Fiscal Period Focus	Q2
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)		109,198,991
Class B Units
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		50,900,930

Condensed Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
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)	109,198,991	103,080,160
Common units, outstanding (in shares)	109,198,991	103,080,160
Class B Units
Common units, par value (in dollars per share)	$ 0	$ 0
Common units, issued (in shares)	50,916,930	56,922,688
Common units, outstanding (in shares)	50,916,930	56,922,688
Oaktree Capital Group Excluding Consolidated Funds
Investments, at fair value	$ 404,460	$ 108,159

EARNINGS PER UNIT (Tables)

6 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Computations of Net Income Per Unit

The computation of net income (loss) per Class A unit is set forth below:


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
	(in thousands, except per unit amounts)
Net income (loss) per Class A unit (basic and diluted):
Net income (loss) attributable to OCG Class A unitholders	$	(6,335)	$	(21,356)	$	32,594	$	(10,503)
Weighted average number of Class A units outstanding (basic and diluted)	108,796		102,820		105,954		100,989
Basic and diluted net income (loss) per Class A unit	$	(0.06)	$	(0.21)	$	0.31	$	(0.10)

FAIR VALUE - Valuation Techniques (Details) $ in Thousands	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial Instrument	$ 23,379	$ 35,862
Oaktree Capital Group Excluding Consolidated Funds \| Valuation Technique, Option Pricing Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial Instrument	20,758
Oaktree Capital Group Excluding Consolidated Funds \| Mezzanine loan \| Valuation Technique, Option Pricing Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial Instrument	18,155
Oaktree Capital Group Excluding Consolidated Funds \| Earn-out shares \| Valuation Technique, Option Pricing Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Financial Instrument	$ 2,603
Oaktree Capital Group Excluding Consolidated Funds \| Earn-out shares \| Volatility \| Valuation Technique, Option Pricing Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Valuation Technique	55

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480524/946-210-50-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(e))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H)(Footnote 7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5C

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(9)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column G)(Footnote 8))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5C
-Subparagraph (SX 210.12-13C(Column H))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13(Column G))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5A
-Subparagraph (SX 210.12-13A(Column E))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5A

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5B

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 320
-Name Accounting Standards Codification
-Section S99
-Paragraph 5B
-Subparagraph (SX 210.12-13B(Column E)(Footnote 4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480032/946-320-S99-5B

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483466/210-20-50-3

Reference 22: http://www.xbrl.org/2003/role/exampleRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483444/210-20-55-22

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483444/210-20-55-10

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-10

+ Details

DERIVATIVES AND HEDGING - Summary of Freestanding Derivative Instruments on Income (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Gains and losses from freestanding derivative instruments	$ (34)	$ 366	$ (2,609)	$ 2,738
Investment income
Derivative Instruments, Gain (Loss) [Line Items]
Gains and losses from freestanding derivative instruments	(34)	64	(2,609)	1,448
General and administrative expense
Derivative Instruments, Gain (Loss) [Line Items]
Gains and losses from freestanding derivative instruments	$ 0	$ 302	$ 0	$ 1,290

UNITHOLDERS' CAPITAL

6 Months Ended

Jun. 30, 2023

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 Oaktree Capital Group, 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 June 30, 2023 and December 31, 2022, OCGH units represented 50,916,930 of the total 160,115,921 Oaktree Operating Group units and 56,922,688 of the total 160,002,848 Oaktree Operating Group units, respectively. Based on total allocable capital of $898,911 and $1,017,192 as of June 30, 2023 and December 31, 2022, respectively, the OCGH non-controlling interest was $285,307 and $360,660. As of June 30, 2023 and December 31, 2022, there were no non-controlling interests attributable to third parties.

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 at any time on or after September 15, 2023 in whole or in part, 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.

If a Change of Control Event (as defined in the Series B Preferred Unit Designation) occurs prior to September 15, 2023 in respect of the Series B preferred units, the Company may, at its option, out of funds legally available, redeem the Series B preferred units, in whole but not in part, upon at least 30 days’ notice, within 60 days of the occurrence of such Change of Control Event, at a price of $25.25 per Series B preferred unit, plus declared and unpaid distributions to, but excluding, the redemption date, without payment of any undeclared distributions.

If a Tax Redemption Event or Rating Agency Event (each, as defined in the Series B Preferred Unit Designation) occurs prior to September 15, 2023 in respect of the Series B preferred units, the Company may, at its option, out of funds legally available, redeem the Series B preferred units, in whole but not in part, upon at least 30 days’ notice, within 60 days of the occurrence of such Tax Redemption Event or Rating Agency Event, at a price of $25.50 per preferred unit, plus declared and unpaid distributions to, but excluding, the redemption date, without payment of any undeclared distributions.

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 June 30,				Six months ended June 30,
	2023		2022		2023		2022
Weighted average Oaktree Capital I units outstanding (in thousands):
OCGH & other non-controlling interests	55,107		60,676		57,950		60,727
Class A unitholders	105,009		99,231		102,139		99,184
Total weighted average units outstanding	160,116		159,907		160,089		159,911

Oaktree Capital I net income (loss):
Net income attributable to preferred unitholders (1)	$	6,829	$	6,829	$	13,658	$	13,658
Net income (loss) attributable to OCGH and other non-controlling interests	(13,955)		(13,151)		5,745		(16,153)
Net income (loss) attributable to OCG Class A unitholders	(22,874)		(17,812)		8,515		(25,661)
Oaktree Capital I net income (loss)	$	(30,000)	$	(24,134)	$	27,918	$	(28,156)
Net income (loss) attributable to OCG Class A unitholders:
Oaktree Capital I net income (loss) attributable to OCG Class A unitholders	$	(22,874)	$	(17,812)	$	8,515	$	(25,661)
Non-Operating Group income (expense)	16,539		(3,544)		24,079		15,158

Net income (loss) attributable to OCG Class A unitholders	$	(6,335)	$	(21,356)	$	32,594	$	(10,503)

(1) Represents distributions declared, if any, on the preferred units.

The change in the Company’s ownership interest in the Oaktree Capital I is set forth below:


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022

Net income (loss) attributable to OCG Class A unitholders	$	(6,335)	$	(21,356)	$	32,594	$	(10,503)
Equity reallocation between controlling and non-controlling interests	37,353		33,309		35,082		47,584
Change from net income (loss) attributable to OCG Class A unitholders and transfers from non-controlling interests	$	31,018	$	11,953	$	67,676	$	37,081

Please see notes 9, 10 and 11 for additional information regarding transactions that impacted unitholders’ capital.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481062/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481004/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-14

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-16

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

INVESTMENTS - Fair Value (Details) $ in Thousands	Jun. 30, 2023 USD ($) investment	Dec. 31, 2022 USD ($) 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	5.00%	5.00%
Consolidated Funds
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 2,772,767	$ 2,098,838
Debt securities, fair value as a percentage of investments of consolidated funds	61.20%	53.70%
Equity securities, fair value	$ 1,666,000	$ 1,735,304
Equity securities, fair value as a percentage of investments of consolidated funds	36.80%	44.40%
Real estate investments, at fair value	$ 88,675	$ 74,471
Real estate, fair value as a percentage of investments of consolidated funds	2.00%	1.90%
Investments, at fair value	$ 4,527,442	$ 3,908,613
Total investments, fair value as a percentage of investments of consolidated funds	100.00%	100.00%
Consolidated Funds \| United States:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 1,885,920	$ 1,318,317
Debt securities, fair value as a percentage of investments of consolidated funds	41.70%	33.60%
Total debt securities, cost	$ 1,975,206	$ 1,437,262
Equity securities, fair value	$ 1,300,283	$ 1,310,735
Equity securities, fair value as a percentage of investments of consolidated funds	28.70%	33.70%
Total equity securities, cost	$ 1,061,469	$ 1,000,922
Real estate investments, at fair value	$ 3,475	$ 1,796
Real estate, fair value as a percentage of investments of consolidated funds	0.10%	0.00%
Real estate securities, cost	$ 3,017	$ 1,797
Consolidated Funds \| United States: \| Communication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 108,658	$ 100,995
Debt securities, fair value as a percentage of investments of consolidated funds	2.40%	2.60%
Equity securities, fair value	$ 69,661	$ 64,621
Equity securities, fair value as a percentage of investments of consolidated funds	1.50%	1.70%
Consolidated Funds \| United States: \| Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 228,762	$ 127,170
Debt securities, fair value as a percentage of investments of consolidated funds	5.10%	3.30%
Equity securities, fair value	$ 134,894	$ 133,104
Equity securities, fair value as a percentage of investments of consolidated funds	3.00%	3.40%
Consolidated Funds \| United States: \| Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 20,122	$ 23,542
Debt securities, fair value as a percentage of investments of consolidated funds	0.40%	0.60%
Consolidated Funds \| United States: \| Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 180,288	$ 79,573
Debt securities, fair value as a percentage of investments of consolidated funds	4.00%	2.00%
Equity securities, fair value	$ 433,746	$ 482,984
Equity securities, fair value as a percentage of investments of consolidated funds	9.60%	12.40%
Consolidated Funds \| United States: \| Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 339,478	$ 217,878
Debt securities, fair value as a percentage of investments of consolidated funds	7.50%	5.60%
Equity securities, fair value	$ 185,092	$ 181,980
Equity securities, fair value as a percentage of investments of consolidated funds	4.10%	4.70%
Consolidated Funds \| United States: \| Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 125,019	$ 111,005
Debt securities, fair value as a percentage of investments of consolidated funds	2.80%	2.80%
Equity securities, fair value	$ 26,164	$ 26,191
Equity securities, fair value as a percentage of investments of consolidated funds	0.60%	0.70%
Consolidated Funds \| United States: \| Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 254,194	$ 206,479
Debt securities, fair value as a percentage of investments of consolidated funds	5.60%	5.30%
Equity securities, fair value	$ 346,900	$ 308,514
Equity securities, fair value as a percentage of investments of consolidated funds	7.70%	7.90%
Consolidated Funds \| United States: \| Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 118,845	$ 136,714
Debt securities, fair value as a percentage of investments of consolidated funds	2.60%	3.50%
Equity securities, fair value	$ 14,914	$ 14,107
Equity securities, fair value as a percentage of investments of consolidated funds	0.30%	0.40%
Consolidated Funds \| United States: \| Materials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 131,962	$ 118,578
Debt securities, fair value as a percentage of investments of consolidated funds	2.90%	3.00%
Equity securities, fair value	$ 899	$ 899
Equity securities, fair value as a percentage of investments of consolidated funds	0.00%	0.00%
Consolidated Funds \| United States: \| Real estate
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 137,109	$ 182,643
Debt securities, fair value as a percentage of investments of consolidated funds	3.00%	4.70%
Real estate investments, at fair value	$ 3,475	$ 1,796
Real estate, fair value as a percentage of investments of consolidated funds	0.10%	0.00%
Consolidated Funds \| United States: \| Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 16,405	$ 11,850
Debt securities, fair value as a percentage of investments of consolidated funds	0.40%	0.30%
Equity securities, fair value	$ 88,013	$ 98,335
Equity securities, fair value as a percentage of investments of consolidated funds	1.90%	2.50%
Consolidated Funds \| United States: \| Other
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 225,078	$ 1,890
Debt securities, fair value as a percentage of investments of consolidated funds	5.00%	0.00%
Consolidated Funds \| Europe:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 231,672	$ 217,816
Debt securities, fair value as a percentage of investments of consolidated funds	5.20%	5.50%
Total debt securities, cost	$ 227,604	$ 230,090
Equity securities, fair value	$ 252,478	$ 266,272
Equity securities, fair value as a percentage of investments of consolidated funds	5.60%	6.80%
Total equity securities, cost	$ 233,883	$ 241,129
Real estate investments, at fair value	$ 85,200	$ 72,675
Real estate, fair value as a percentage of investments of consolidated funds	1.90%	1.90%
Real estate securities, cost	$ 81,598	$ 69,100
Consolidated Funds \| Europe: \| Communication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 105,463	$ 103,068
Debt securities, fair value as a percentage of investments of consolidated funds	2.30%	2.60%
Consolidated Funds \| Europe: \| Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 15,929	$ 13,997
Debt securities, fair value as a percentage of investments of consolidated funds	0.40%	0.40%
Equity securities, fair value	$ 94,570	$ 130,868
Equity securities, fair value as a percentage of investments of consolidated funds	2.10%	3.30%
Consolidated Funds \| Europe: \| Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 1,916	$ 8,024
Debt securities, fair value as a percentage of investments of consolidated funds	0.00%	0.20%
Consolidated Funds \| Europe: \| Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 1,361	$ 1,097
Debt securities, fair value as a percentage of investments of consolidated funds	0.00%	0.00%
Consolidated Funds \| Europe: \| Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 15,698	$ 35,091
Debt securities, fair value as a percentage of investments of consolidated funds	0.30%	0.90%
Equity securities, fair value	$ 36,250	$ 31,701
Equity securities, fair value as a percentage of investments of consolidated funds	0.80%	0.80%
Consolidated Funds \| Europe: \| Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 11,439	$ 8,178
Debt securities, fair value as a percentage of investments of consolidated funds	0.30%	0.20%
Equity securities, fair value	$ 3	$ 9
Equity securities, fair value as a percentage of investments of consolidated funds	0.00%	0.00%
Consolidated Funds \| Europe: \| Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 14,385	$ 12,384
Debt securities, fair value as a percentage of investments of consolidated funds	0.30%	0.30%
Equity securities, fair value	$ 58,661	$ 53,790
Equity securities, fair value as a percentage of investments of consolidated funds	1.30%	1.40%
Consolidated Funds \| Europe: \| Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 25,048	$ 4,583
Debt securities, fair value as a percentage of investments of consolidated funds	0.60%	0.10%
Consolidated Funds \| Europe: \| Materials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 13,441	$ 10,920
Debt securities, fair value as a percentage of investments of consolidated funds	0.30%	0.30%
Equity securities, fair value	$ 24,282	$ 24,282
Equity securities, fair value as a percentage of investments of consolidated funds	0.50%	0.60%
Consolidated Funds \| Europe: \| Real estate
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 16,494	$ 12,888
Debt securities, fair value as a percentage of investments of consolidated funds	0.40%	0.30%
Equity securities, fair value	$ 38,712	$ 25,622
Equity securities, fair value as a percentage of investments of consolidated funds	0.90%	0.70%
Real estate investments, at fair value	$ 85,200	$ 72,675
Real estate, fair value as a percentage of investments of consolidated funds	1.90%	1.90%
Consolidated Funds \| Europe: \| Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 7,947	$ 5,102
Debt securities, fair value as a percentage of investments of consolidated funds	0.20%	0.10%
Consolidated Funds \| Europe: \| Other
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 2,551	$ 2,484
Debt securities, fair value as a percentage of investments of consolidated funds	0.10%	0.10%
Consolidated Funds \| Asia and other:
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 655,175	$ 562,705
Debt securities, fair value as a percentage of investments of consolidated funds	14.40%	14.40%
Total debt securities, cost	$ 680,512	$ 581,467
Equity securities, fair value	$ 113,239	$ 158,297
Equity securities, fair value as a percentage of investments of consolidated funds	2.40%	4.00%
Total equity securities, cost	$ 99,042	$ 722,128
Consolidated Funds \| Asia and other: \| Communication services
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 853	$ 5,419
Debt securities, fair value as a percentage of investments of consolidated funds	0.00%	0.10%
Consolidated Funds \| Asia and other: \| Consumer discretionary
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 5,921	$ 5,641
Debt securities, fair value as a percentage of investments of consolidated funds	0.10%	0.20%
Consolidated Funds \| Asia and other: \| Consumer staples
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 19,615	$ 19,125
Debt securities, fair value as a percentage of investments of consolidated funds	0.40%	0.50%
Consolidated Funds \| Asia and other: \| Energy
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 8,432	$ 9,163
Debt securities, fair value as a percentage of investments of consolidated funds	0.20%	0.20%
Equity securities, fair value	$ 6,029	$ 7,581
Equity securities, fair value as a percentage of investments of consolidated funds	0.10%	0.20%
Consolidated Funds \| Asia and other: \| Financials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 7,742	$ 8,344
Debt securities, fair value as a percentage of investments of consolidated funds	0.20%	0.20%
Consolidated Funds \| Asia and other: \| Health care
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 2,649	$ 2,837
Debt securities, fair value as a percentage of investments of consolidated funds	0.10%	0.10%
Consolidated Funds \| Asia and other: \| Industrials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 3,980	$ 3,754
Debt securities, fair value as a percentage of investments of consolidated funds	0.10%	0.10%
Equity securities, fair value	$ 70,031	$ 113,270
Equity securities, fair value as a percentage of investments of consolidated funds	1.50%	2.90%
Consolidated Funds \| Asia and other: \| Information technology
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 953	$ 695
Debt securities, fair value as a percentage of investments of consolidated funds	0.00%	0.00%
Consolidated Funds \| Asia and other: \| Materials
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 161,356	$ 113,784
Debt securities, fair value as a percentage of investments of consolidated funds	3.60%	2.90%
Consolidated Funds \| Asia and other: \| Real estate
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 439,532	$ 328,343
Debt securities, fair value as a percentage of investments of consolidated funds	9.70%	8.40%
Equity securities, fair value	$ 32,916	$ 32,916
Equity securities, fair value as a percentage of investments of consolidated funds	0.70%	0.80%
Consolidated Funds \| Asia and other: \| Utilities
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 4,142	$ 5,602
Debt securities, fair value as a percentage of investments of consolidated funds	0.10%	0.10%
Equity securities, fair value	$ 4,263	$ 4,530
Equity securities, fair value as a percentage of investments of consolidated funds	0.10%	0.10%
Consolidated Funds \| Asia and other: \| Other
Schedule Of Investments In Marketable Securities [Line Items]
Debt securities, fair value	$ 0	$ 59,998
Debt securities, fair value as a percentage of investments of consolidated funds	0.00%	1.50%