v3.26.1
VARIABLE INTEREST ENTITIES (Tables)
3 Months Ended
Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities
AS OF MARCH 31, AND DECEMBER 31,
(MILLIONS)
20262025
Cash and cash equivalents$ $— 
Cash of consolidated funds51 — 
Investments410 411 
Investments of consolidated funds2,387 505 
Other assets — 
Total Assets$2,848 $916 
Due to affiliates of consolidated funds$63 $— 
Borrowings of consolidated funds451 462 
Deferred income tax liabilities41 — 
Other liabilities — 
Total Liabilities$555 $462 
The assets and liabilities recognized in the Company's condensed consolidated balance sheets related to its maximum exposure to loss of those VIEs of which the Company is determined not to be the primary beneficiary, the non-consolidated VIEs, are as follows:
AS OF MARCH 31, AND DECEMBER 31,
(MILLIONS)
20262025
Investments$1,027 $1,130 
Due from affiliates3 
VIE related assets1,030 1,134 
Maximum exposure to loss$1,030 $1,134