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Investments in Affiliates and Affiliate Sponsored Investment Products
 12 Months Ended
Dec. 31, 2025
Variable Interest Entity [Abstract]  
Investments in Affiliates and Affiliate Sponsored Investment Products Investments in Affiliates and Affiliate Sponsored Investment Products
Investments in Affiliates
The Company’s Affiliates are consolidated or accounted for under the equity method, depending upon the underlying
structure of and relationship with each Affiliate.  Substantially all of the Company’s consolidated Affiliates are VIEs.  The
Company’s Affiliates accounted for under the equity method considered VIEs generally require minimal levels of working
capital on each Affiliate’s balance sheet.  Certain of the Company’s Affiliates accounted for under the equity method hold
general partner and seed investments, which may be significant.  As of December 31, 2024 and 2025, the Company’s carrying
value and maximum exposure to loss attributable to its Affiliates accounted for under the equity method considered VIEs was
$2,135.2 million and $2,763.6 million, respectively.
As of December 31, 2024 and 2025, the carrying value and maximum exposure to loss for all of the Company’s Affiliates
accounted for under the equity method was $2,246.6 million and $2,870.4 million, respectively, including Affiliates accounted
for under the equity method considered VREs of $111.4 million and $106.8 million, respectively.
Affiliate Sponsored Investment Products
The Company’s carrying value and maximum exposure to loss from unconsolidated Affiliate sponsored investment
products, is its or its consolidated Affiliates’ interests in the unconsolidated net assets of the respective products.  These
products vary in size from early-stage products with few initial investors to mature products with a large population of
investors.  As of December 31, 2024 and 2025, the Company’s carrying value and maximum exposure to loss attributable to
Affiliate sponsored investment products, which are unconsolidated VIEs, was $28.0 million and $88.9 million, respectively.