v3.26.1
REVENUES
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
REVENUES REVENUES
Prior to the 2024 Restructuring, the Company earned incentive income generated by the funds, for which Oaktree Capital I served as general partner. These revenues were affected by economic factors related to the asset class composition of the holdings and the contractual terms such as the basis for calculating the incentive income and investors’ ability to redeem. As a result of the 2024 Restructuring, incentive income is no longer recognized by the Company due to the deconsolidation of Oaktree Capital I. The Company’s proportionate share of incentive income earned by Oaktree Capital I is included as a component of investment income.
Incentive income revenues by fund structure are set forth below.
Year Ended December 31,
202520242023
Incentive Income
Closed-end$— $112,496 $257,296 
Evergreen— 5,033 10,029 
Total
$— $117,529 $267,325 
Additionally, the Company earns investment income from the investments the Company makes in its investment in Oaktree Capital I, Oaktree funds, third-party funds and other companies. Revenues by investment types are set forth below.
Year Ended December 31,
Investment Income202520242023
Equity-method investments:
Funds
$3,546 $30,956 $58,791 
Companies
192,975 127,413 5 
Other investments, at fair value— 11,663 13,868 
Total investment income$196,521 $170,032 $72,664