Other Assets

3 Months Ended

Mar. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other assets consist of the following as of December 31, 2020 and March 31, 2021 (in thousands):


	December 31, 2020		March 31, 2021
Prepaid expenses, net of current portion	$	22,418	$	22,247
Equity method investments	15,795		17,879
Cloud computing arrangements	6,385		7,330
Other investments	2,527		2,527
Other	7,803		10,299
Other assets	$	54,928	$	60,282

Prepaid Expenses

Long-term prepaid expenses primarily relate to payments that have been made for future services to be provided after one year. In the fourth quarter of 2020, pursuant to the terms of the perpetual license agreement associated with the Jack Welch Management Institute ("JWMI"), the Company made a final one-time cash payment of approximately $25.3 million for the right to continue to use the Jack Welch name and likeness. As of March 31, 2021, $20.3 million of this payment is included in the prepaid expenses, net of current portion balance, as the payment is being amortized over an estimated useful life of 15 years.

Equity Method Investments

The Company holds investments in certain limited partnerships that invest in various innovative companies in the health care and education-related technology fields. The Company has commitments to invest up to an additional $1.7 million across these partnerships through 2027. The Company's investments range from 3%-5% of any partnership’s interest and are accounted for under the equity method.

The following table illustrates changes in the Company’s limited partnership investments for the three months ended March 31, 2020 and 2021 (in thousands):


	For the three months ended March 31,
	2020		2021
Limited partnership investments, beginning of period	$	15,795	$	15,795
Capital contributions	118		72
Pro-rata share in the net income of limited partnerships	232		2,714
Distributions	(340)		(702)
Limited partnership investments, end of period	$	15,805	$	17,879

Cloud Computing Arrangements

The Company defers implementation costs incurred in cloud computing arrangements and amortizes these costs over the term of the arrangement.

Other Investments

The Company's venture fund, SEI Ventures, makes investments in education tech start-ups focused on transformational technologies that improve student success. These investments are accounted for at cost less impairment as they do not have readily determinable fair value.