v3.26.1
VARIABLE INTEREST ENTITIES (Tables)
6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities
AS OF JUNE 30, AND DECEMBER 31,
(MILLIONS)
20262025
Cash and cash equivalents$ $— 
Accounts receivable and other, net6 — 
Investments418 411 
Investments of consolidated funds3,090 505 
Total Assets$3,514 $916 
Accounts payable and other, net4 — 
Due to affiliates of consolidated funds$36 $— 
Borrowings of consolidated funds589 462 
Deferred income tax liabilities43 — 
Total Liabilities$672 $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 JUNE 30, AND DECEMBER 31,
(MILLIONS)
20262025
Investments$1,186 $1,130 
Due from affiliates2 
VIE related assets1,188 1,134 
Maximum exposure to loss$1,188 $1,134