Pay vs Performance Disclosure - USD ($)

12 Months Ended

Dec. 31, 2025

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay Versus Performance

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation

S-K,

we are providing the following information about the relationship between executive “compensation actually paid” (as determined in accordance with the rules prescribed under Item 402(v)) to (i) each individual who has served as our principal executive officer (“PEO”) during any or all of 2021, 2022, 2023, 2024 and 2025 and (ii) our other

non-PEO

named executive officers (determined as an average, as set forth below) during each of 2021, 2022, 2023, 2024 and 2025, and our financial performance. For more information about our executive compensation program, please refer to the “Compensation Discussion and Analysis” section above.


		Summary Compensation Table Total for ($)										Compensation Actually Paid to ($)										Average Summary Compensation Table Total for Non-PEO Named Executive Officers ($) (1) (2)					Average Compensation Actually Paid to Non-PEO Named Executive Officers ($) (1) (2)					Value of Initial Fixed $100 Investment Based on:										Net Income (in millions) ($)					Fee Related Earnings (FRE) (in millions) ($) (4)
Year		Marc Rowan					Leon Black					Marc Rowan					Leon Black															Total Shareholder Return ($)					Peer Group Total Shareholder Return ($) (3)					Net Income (in millions) ($)					Fee Related Earnings (FRE) (in millions) ($) (4)

2025				913,367					—					913,367					—					37,351,212					37,173,875					331					196					3,395					2,528

2024				763,381					—					763,381					—					23,485,050					84,829,420					372					187					4,480					2,063

2023				320,760					—					320,760					—					19,897,799					49,502,529					207					135					5,001					1,768

2022				310,011					—					310,011					—					17,204,252					10,539,452					139					110					(1,961	)				1,410

2021				302,310					356,713					302,310					356,713					223,067,825					246,673,294					153					141					1,802					1,267

(1)

The

non-PEO

named executive officers in 2025 consist of Messrs. Belardi, Kelly and Zito and Ms. Chatterjee, in 2024 consist of Messrs. Belardi, Kelly and Kleinman and Ms. Chatterjee, in 2023 and 2022 consist of Messrs. Belardi, Kelly, Kleinman and John Suydam, and in 2021 consist of Messrs. Anthony Civale, Kelly, Kleinman and Zelter (as applicable, the

“Non-PEO

NEOs”).

(2)

“Compensation actually paid” has been calculated in accordance with the requirements of Item 402(v)(2)(iii) of Regulation

S-K

and does not reflect compensation actually earned, realized or received. To calculate the “compensation actually paid,” the following amounts were deducted from and added to the applicable “Summary Compensation Table Total” set forth above:


		Summary Compensation Table Total ($)					Deductions of Reported Equity Values from Summary Compensation Table Total (a) ($)					Equity Award Adjustments to Summary Compensation Table Total (b) ($)					“Compensation Actually Paid” ($)

Marc Rowan
2025				913,367					—					—					913,367
2024				763,381					—					—					763,381
2023				320,760					—					—					320,760
2022				310,011					—					—					310,011
2021				302,310					—					—					302,310

Leon Black
2021				356,713					—					—					356,713

Average of Non-PEO Named Executive Officers
2025				37,351,212					(12,930,166	)				12,752,828					37,173,875
2024				23,485,050					(5,992,848	)				67,337,219					84,829,420


		Summary Compensation Table Total ($)					Deductions of Reported Equity Values from Summary Compensation Table Total (a) ($)					Equity Award Adjustments to Summary Compensation Table Total (b) ($)					“Compensation Actually Paid” ($)
2023				19,897,799					(4,119,833	)				33,724,563					49,502,529
2022				17,204,252					(3,862,211	)				(2,802,589	)				10,539,452
2021				223,067,825					(206,199,646	)				229,805,115					246,673,294

(a)	Represents the grant date fair value of equity-based awards granted in each year, as reflected in the “Stock Awards” column of the Summary Compensation Table above.

(b)

Reflects adjustments to the value of Stock Awards, as calculated in accordance with the rules prescribed under Item 402(v) and in accordance with ASC Topic 718, which included the categories of adjustments for each year as set forth below. For additional information regarding the determination of fair value, see Note 7 to our consolidated financial statements in our Annual Report on Form

10-K

for the fiscal year ended December 31, 2025.

(3)	The Peer Group for these purposes is the Dow Jones U.S. Asset Manager Index.

(4)

Our company-selected measure is Fee Related Earnings (“FRE”). FRE is further described in our Annual Report on Form

10-K,

including a reconciliation of

non-GAAP

measures to the corresponding GAAP measure within “Management’s Discussion and Analysis of Financial Condition and Results of Operations-Managing Business

Performance-Key

Segment and

Non-U.S.

GAAP Performance

Measures-Fee

Related Earnings, Spread Related Earnings and Principal Investing Income.”


		Year End Fair Value of Awards Granted During Year that Remained Outstanding and Unvested at Year End ($)					Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in a Prior Year that Remained Outstanding and Unvested at Year End ($)					Fair Value as of Vesting Date of Equity Awards Granted and Vested in Same Year ($)					Year Over Year Change in Fair Value of Equity Awards Granted in a Prior Year that Vested in the Year ($)					Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions During Year ($)					Value of Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Fair Value or Total Compensation ($)					Total Equity Award Adjustments ($)
Marc Rowan
2025				—					—					—					—					—					—					—
2024				—					—					—					—					—					—					—
2023				—					—					—					—					—					—					—
2022				—					—					—					—					—					—					—
2021				—					—					—					—					—					—					—
Leon Black
2021				—					—					—					—					—					—					—
Average of Non-PEO Named Executive Officers
2025				9,121,344					347,891					1,973,508					(335,645	)				—					1,645,730					12,752,828
2024				6,436,156					54,099,951					1,264,578					3,146,111					—					2,390,423					67,337,219
2023				3,221,302					25,586,288					1,838,687					792,835					—					2,285,451					33,724,563
2022				2,418,692					(8,434,175	)				1,512,065					(480,597	)				—					2,181,426					(2,802,589	)
2021				118,424,882					13,410,784					95,087,132					1,483,123					—					1,399,194					229,805,115

Company Selected Measure Name

Fee Related Earnings

Named Executive Officers, Footnote

The

non-PEO

named executive officers in 2025 consist of Messrs. Belardi, Kelly and Zito and Ms. Chatterjee, in 2024 consist of Messrs. Belardi, Kelly and Kleinman and Ms. Chatterjee, in 2023 and 2022 consist of Messrs. Belardi, Kelly, Kleinman and John Suydam, and in 2021 consist of Messrs. Anthony Civale, Kelly, Kleinman and Zelter (as applicable, the

“Non-PEO

NEOs”).

Peer Group Issuers, Footnote

The Peer Group for these purposes is the Dow Jones U.S. Asset Manager Index.

Adjustment To PEO Compensation, Footnote


		Summary Compensation Table Total ($)					Deductions of Reported Equity Values from Summary Compensation Table Total (a) ($)					Equity Award Adjustments to Summary Compensation Table Total (b) ($)					“Compensation Actually Paid” ($)

Marc Rowan
2025				913,367					—					—					913,367
2024				763,381					—					—					763,381
2023				320,760					—					—					320,760
2022				310,011					—					—					310,011
2021				302,310					—					—					302,310

Leon Black
2021				356,713					—					—					356,713

Average of Non-PEO Named Executive Officers
2025				37,351,212					(12,930,166	)				12,752,828					37,173,875
2024				23,485,050					(5,992,848	)				67,337,219					84,829,420


		Summary Compensation Table Total ($)					Deductions of Reported Equity Values from Summary Compensation Table Total (a) ($)					Equity Award Adjustments to Summary Compensation Table Total (b) ($)					“Compensation Actually Paid” ($)
2023				19,897,799					(4,119,833	)				33,724,563					49,502,529
2022				17,204,252					(3,862,211	)				(2,802,589	)				10,539,452
2021				223,067,825					(206,199,646	)				229,805,115					246,673,294


		Year End Fair Value of Awards Granted During Year that Remained Outstanding and Unvested at Year End ($)					Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in a Prior Year that Remained Outstanding and Unvested at Year End ($)					Fair Value as of Vesting Date of Equity Awards Granted and Vested in Same Year ($)					Year Over Year Change in Fair Value of Equity Awards Granted in a Prior Year that Vested in the Year ($)					Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions During Year ($)					Value of Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Fair Value or Total Compensation ($)					Total Equity Award Adjustments ($)
Marc Rowan
2025				—					—					—					—					—					—					—
2024				—					—					—					—					—					—					—
2023				—					—					—					—					—					—					—
2022				—					—					—					—					—					—					—
2021				—					—					—					—					—					—					—
Leon Black
2021				—					—					—					—					—					—					—
Average of Non-PEO Named Executive Officers
2025				9,121,344					347,891					1,973,508					(335,645	)				—					1,645,730					12,752,828
2024				6,436,156					54,099,951					1,264,578					3,146,111					—					2,390,423					67,337,219
2023				3,221,302					25,586,288					1,838,687					792,835					—					2,285,451					33,724,563
2022				2,418,692					(8,434,175	)				1,512,065					(480,597	)				—					2,181,426					(2,802,589	)
2021				118,424,882					13,410,784					95,087,132					1,483,123					—					1,399,194					229,805,115

Non-PEO NEO Average Total Compensation Amount

$ 37,351,212

$ 23,485,050

$ 19,897,799

$ 17,204,252

$ 223,067,825

Non-PEO NEO Average Compensation Actually Paid Amount

$ 37,173,875

84,829,420

49,502,529

10,539,452

246,673,294

Adjustment to Non-PEO NEO Compensation Footnote


		Summary Compensation Table Total ($)					Deductions of Reported Equity Values from Summary Compensation Table Total (a) ($)					Equity Award Adjustments to Summary Compensation Table Total (b) ($)					“Compensation Actually Paid” ($)

Marc Rowan
2025				913,367					—					—					913,367
2024				763,381					—					—					763,381
2023				320,760					—					—					320,760
2022				310,011					—					—					310,011
2021				302,310					—					—					302,310

Leon Black
2021				356,713					—					—					356,713

Average of Non-PEO Named Executive Officers
2025				37,351,212					(12,930,166	)				12,752,828					37,173,875
2024				23,485,050					(5,992,848	)				67,337,219					84,829,420


		Summary Compensation Table Total ($)					Deductions of Reported Equity Values from Summary Compensation Table Total (a) ($)					Equity Award Adjustments to Summary Compensation Table Total (b) ($)					“Compensation Actually Paid” ($)
2023				19,897,799					(4,119,833	)				33,724,563					49,502,529
2022				17,204,252					(3,862,211	)				(2,802,589	)				10,539,452
2021				223,067,825					(206,199,646	)				229,805,115					246,673,294


		Year End Fair Value of Awards Granted During Year that Remained Outstanding and Unvested at Year End ($)					Year Over Year Change in Fair Value of Outstanding and Unvested Equity Awards Granted in a Prior Year that Remained Outstanding and Unvested at Year End ($)					Fair Value as of Vesting Date of Equity Awards Granted and Vested in Same Year ($)					Year Over Year Change in Fair Value of Equity Awards Granted in a Prior Year that Vested in the Year ($)					Fair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions During Year ($)					Value of Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Fair Value or Total Compensation ($)					Total Equity Award Adjustments ($)
Marc Rowan
2025				—					—					—					—					—					—					—
2024				—					—					—					—					—					—					—
2023				—					—					—					—					—					—					—
2022				—					—					—					—					—					—					—
2021				—					—					—					—					—					—					—
Leon Black
2021				—					—					—					—					—					—					—
Average of Non-PEO Named Executive Officers
2025				9,121,344					347,891					1,973,508					(335,645	)				—					1,645,730					12,752,828
2024				6,436,156					54,099,951					1,264,578					3,146,111					—					2,390,423					67,337,219
2023				3,221,302					25,586,288					1,838,687					792,835					—					2,285,451					33,724,563
2022				2,418,692					(8,434,175	)				1,512,065					(480,597	)				—					2,181,426					(2,802,589	)
2021				118,424,882					13,410,784					95,087,132					1,483,123					—					1,399,194					229,805,115

Compensation Actually Paid vs. Total Shareholder Return

The following graph shows the relationship between the “compensation actually paid” to each of Messrs. Rowan and Black and the average of the “compensation actually paid” to our

Non-PEO

NEOs (in each case, with “compensation actually paid” calculated as set forth above in accordance with the rules prescribed under Item 402(v) of Regulation

S-K)

in 2021, 2022, 2023, 2024 and 2025 and our cumulative total shareholder return (“TSR”) measured starting from December 31, 2020 for each covered fiscal year. This graph also shows the relationship between our TSR performance and the TSR performance of the Peer Group in the Pay Versus Performance Table (which is the Dow Jones U.S. Asset Manager Index) over the same period.

Compensation Actually Paid vs. Net Income

The following graph shows the relationship between the “compensation actually paid” to each of Messrs. Rowan and Black and the average of the “compensation actually paid” to

our non-PEO NEOs

(in each case, with “compensation actually paid” calculated as set forth above in accordance with the rules prescribed under Item 402(v)) in 2021, 2022, 2023, 2024 and 2025 and our net income available for our common stockholders in 2021, 2022, 2023, 2024 and 2025.

Compensation Actually Paid vs. Company Selected Measure

The following graph shows the relationship between the “compensation actually paid” to each of Messrs. Rowan and Black and the average of the “compensation actually paid” to our

non-PEO

NEOs (in each case, with “compensation actually paid” calculated as set forth above in accordance with the rules prescribed under Item 402(v)) in 2021, 2022, 2023, 2024 and 2025 and the performance of our company-selected measure, Fee Related Earnings, in 2021, 2022, 2023, 2024 and 2025.

Total Shareholder Return Vs Peer Group

The following graph shows the relationship between the “compensation actually paid” to each of Messrs. Rowan and Black and the average of the “compensation actually paid” to our

Non-PEO

NEOs (in each case, with “compensation actually paid” calculated as set forth above in accordance with the rules prescribed under Item 402(v) of Regulation

S-K)

in 2021, 2022, 2023, 2024 and 2025 and our cumulative total shareholder return (“TSR”) measured starting from December 31, 2020 for each covered fiscal year. This graph also shows the relationship between our TSR performance and the TSR performance of the Peer Group in the Pay Versus Performance Table (which is the Dow Jones U.S. Asset Manager Index) over the same period.

Tabular List, Table

Tabular List of Most Important Performance Measures

The following provides a list of the performance measures that we believe are the most important performance measures used to link compensation actually paid to company performance for 2025. We are providing this list in accordance with Item 402(v) of

Regulation S-K to

provide information on performance measures used by the Compensation Committee to determine NEO compensation. For more information, see the Compensation Discussion and Analysis above.


		Fee Related Earnings
		Adjusted Net Income
		Realized Performance Fees
		Spread Related Earnings

Total Shareholder Return Amount

$ 331

372

207

139

153

Peer Group Total Shareholder Return Amount

196

187

135

110

141

Net Income (Loss)

$ 3,395,000,000

$ 4,480,000,000

$ 5,001,000,000

$ (1,961,000,000)

$ 1,802,000,000

Company Selected Measure Amount

2,528,000,000

2,063,000,000

1,768,000,000

1,410,000,000

1,267,000,000

Pay vs Performance Disclosure

Fee Related Earnings

Non-GAAP Measure Description

Our company-selected measure is Fee Related Earnings (“FRE”). FRE is further described in our Annual Report on Form

10-K,

including a reconciliation of

non-GAAP

measures to the corresponding GAAP measure within “Management’s Discussion and Analysis of Financial Condition and Results of Operations-Managing Business

Performance-Key

Segment and

Non-U.S.

GAAP Performance

Measures-Fee

Related Earnings, Spread Related Earnings and Principal Investing Income.”

Pay vs Performance Disclosure

Adjusted Net Income

Pay vs Performance Disclosure

Realized Performance Fees

Pay vs Performance Disclosure

Spread Related Earnings

Marc Rowan [Member]

Pay vs Performance Disclosure

PEO Total Compensation Amount

$ 913,367

$ 763,381

$ 320,760

$ 310,011

$ 302,310

PEO Actually Paid Compensation Amount

$ 913,367

$ 763,381

$ 320,760

$ 310,011

$ 302,310

Marc Rowan

Marc Rowan

Marc Rowan

Marc Rowan

Marc Rowan

Leon Black [Member]

Pay vs Performance Disclosure

PEO Total Compensation Amount

$ 356,713

PEO Actually Paid Compensation Amount

$ 356,713

Leon Black

Non-PEO NEO | Equity Awards Adjustments

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ 12,752,828

$ 67,337,219

$ 33,724,563

$ (2,802,589)

$ 229,805,115

Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

9,121,344

6,436,156

3,221,302

2,418,692

118,424,882

Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

347,891

54,099,951

25,586,288

(8,434,175)

13,410,784

Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

1,973,508

1,264,578

1,838,687

1,512,065

95,087,132

Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

(335,645)

3,146,111

792,835

(480,597)

1,483,123

Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

1,645,730

2,390,423

2,285,451

2,181,426

1,399,194

Non-PEO NEO | Deductions of Reported Equity Values from Summary Compensation [Member]

Pay vs Performance Disclosure

Adjustment to Compensation, Amount

$ (12,930,166)

$ (5,992,848)

$ (4,119,833)

$ (3,862,211)

$ (206,199,646)