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Consolidated Company-Sponsored Investment Funds (Tables)
 9 Months Ended
Sep. 30, 2020
Consolidated Company-Sponsored Investment Funds [Abstract]  
Balances of Consolidated VIEs and VOEs included in Statement of Financial Condition
The balances of consolidated VIEs and VOEs included in our condensed consolidated statements of financial condition were as follows:
September 30, 2020December 31, 2019
(in thousands)
VIEsVOEsTotalVIEsVOEsTotal
Cash and cash equivalents$27,379 $1,828 $29,207 $9,623 $1,810 $11,433 
Investments137,727 90,449 228,176 404,624 176,380 581,004 
Other assets3,951 9,775 13,726 9,618 10,192 19,810 
Total assets$169,057 $102,052 $271,109 $423,865 $188,382 $612,247 
Liabilities$6,521 $23,370 $29,891 $12,147 $18,870 $31,017 
Redeemable non-controlling interest38,733 18,257 56,990 273,219 52,342 325,561 
Partners' capital attributable to AB Unitholders123,803 60,425 184,228 138,499 117,170 255,669 
Total liabilities, redeemable non-controlling interest and partners' capital$169,057 $102,052 $271,109 $423,865 $188,382 $612,247 
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
Valuation of our financial instruments by pricing observability levels as of September 30, 2020 and December 31, 2019 was as follows (in thousands):
 Level 1Level 2Level 3
NAV Expedient(1)
Other Total
September 30, 2020:
Money markets$131,614 $— $— $— $— $131,614 
Securities segregated (U.S. Treasury Bills)— 1,868,891 — — — 1,868,891 
Derivatives 317 26,353 — — — 26,670 
Investments:
  Equity securities 143,749 22,096 121 171 — 166,137 
Long exchange-traded options12,153 — — — — 12,153 
   Limited partnership hedge funds(2)
— — — — 41,459 41,459 
   Time deposits(3)
— — — — 19,900 19,900 
   Other investments6,257 — — — 7,786 14,043 
Total investments162,159 22,096 121 171 69,145 253,692 
Total assets measured at fair value$294,090 $1,917,340 $121 $171 $69,145 $2,280,867 
Securities sold not yet purchased:    
Short equities – corporate$2,892 $— $— $— $— $2,892 
Short exchange-traded options11,091 — — — — 11,091 
Derivatives223 28,007 — — — 28,230 
Contingent payment arrangements— — 29,723 — — 29,723 
Total liabilities measured at fair value$14,206 $28,007 $29,723 $— $— $71,936 
 Level 1Level 2Level 3
NAV Expedient(1)
Other Total
December 31, 2019:
Money markets$126,401 $— $— $— $— $126,401 
Securities segregated (U.S. Treasury Bills)— 1,094,866 — — — 1,094,866 
Derivatives 939 12,552 — — — 13,491 
Investments:
  Equity securities170,946 8,952 119 314 — 180,331 
  Long exchange-traded options6,931 — — — — 6,931 
    Limited partnership hedge funds(2)
— — — — 47,361 47,361 
    Time deposits(3)
— — — — 18,281 18,281 
    Other investments5,883 — — — 8,007 13,890 
Total investments183,760 8,952 119 314 73,649 266,794 
Total assets measured at fair value$311,100 $1,116,370 $119 $314 $73,649 $1,501,552 
Securities sold not yet purchased:    
Short equities – corporate$17,809 $— $— $— $— $17,809 
Short exchange-traded options12,348 — — — — 12,348 
Derivatives871 18,388 — — — 19,259 
Contingent payment arrangements— — 22,911 — — 22,911 
Total liabilities measured at fair value$31,028 $18,388 $22,911 $— $— $72,327 

(1) Investments measured at fair value using NAV (or its equivalent) as a practical expedient.
(2) Investments in equity method investees that are not measured at fair value in accordance with GAAP.
(3) Investments carried at amortized cost that are not measured at fair value in accordance with GAAP.
Valuation of consolidated company-sponsored investment funds' financial instruments by pricing observability levels as of September 30, 2020 and December 31, 2019 was as follows (in thousands):
 Level 1Level 2Level 3Total
September 30, 2020:
  Investments - VIEs$17,386 $119,822 $519 $137,727 
  Investments - VOEs1,791 88,580 78 90,449 
  Derivatives - VIEs199 1,100 — 1,299 
  Derivatives - VOEs11 3,563 — 3,574 
Total assets measured at fair value$19,387 $213,065 $597 $233,049 
Derivatives - VIEs284 4,107 — 4,391 
  Derivatives - VOEs16 1,139 — 1,155 
Total liabilities measured at fair value$300 $5,246 $— $5,546 
December 31, 2019:
  Investments - VIEs$28,270 $375,559 $795 $404,624 
  Investments - VOEs104,069 72,252 59 176,380 
  Derivatives - VIEs139 4,694 — 4,833 
  Derivatives - VOEs76 4,263 — 4,339 
Total assets measured at fair value$132,554 $456,768 $854 $590,176 
Derivatives - VIEs$835 $3,724 $— $4,559 
  Derivatives - VOEs101 4,982 — 5,083 
Total liabilities measured at fair value$936 $8,706 $— $9,642 
Schedule of Change in Carrying Value Level 3 Financial Instruments
The change in carrying value associated with Level 3 financial instruments carried at fair value, classified as private equity and equity securities, is as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
 (in thousands)
Balance as of beginning of period$114 $117 $119 $142 
Purchases— — — — 
Sales— — — — 
Realized gains (losses), net— — — — 
Unrealized gains (losses), net7 1 2 (24)
Balance as of end of period$121 $118 $121 $118 
The change in carrying value associated with Level 3 financial instruments carried at fair value within consolidated company-sponsored investment funds was as follows:
 Three Months Ended September 30,Nine Months Ended September 30,
 2020201920202019
 (in thousands)
Balance as of beginning of period$517 $11,834 $854 $8,373 
Deconsolidated funds— — (135)— 
Transfers (out) in(6)(3,602)565 (3,788)
Purchases61 1,187 107 8,978 
Sales(7)(2,996)(451)(7,345)
Realized gains (losses), net(7)12 (21)35 
Unrealized gains (losses), net39 (40)(323)129 
Accrued discounts— 6 1 19 
Balance as of end of period$597 $6,401 $597 $6,401 
Schedule of Offsetting of Derivative Assets
Offsetting of assets as of September 30, 2020 and December 31, 2019 was as follows:
 
 Gross Amounts of Recognized AssetsGross Amounts Offset in the Statement of Financial ConditionNet Amounts of Assets Presented in the Statement of Financial ConditionFinancial
Instruments		Cash Collateral
Received		Net
Amount
 (in thousands)
September 30, 2020:
Securities borrowed$13,303 $— $13,303 $(11,567)$— $1,736 
Derivatives$26,670 $— $26,670 $— $(980)$25,690 
Long exchange-traded options$12,153 $— $12,153 $— $— $12,153 
December 31, 2019:      
Securities borrowed$38,993 $— $38,993 $(38,993)$— $— 
Derivatives$13,491 $— $13,491 $— $(251)$13,240 
Long exchange-traded options$6,931 $— $6,931 $— $— $6,931 
Offsetting of derivative assets of consolidated company-sponsored investment funds as of September 30, 2020 and December 31, 2019 was as follows:
 
 Gross Amounts of Recognized AssetsGross Amounts Offset in the Statement of Financial ConditionNet Amounts of Assets Presented in the Statement of Financial ConditionFinancial
Instruments		Cash Collateral
Received		Net
Amount
 (in thousands)
September 30, 2020:
Derivatives - VIEs$1,299 $— $1,299 $— $(301)$998 
Derivatives - VOEs$3,574 $— $3,574 $— $(985)$2,589 
December 31, 2019:     
Derivatives - VIEs$4,833 $— $4,833 $— $(1,631)$3,202 
Derivatives - VOEs$4,339 $— $4,339 $— $(534)$3,805 
Schedule of Offsetting of Derivative Liabilities
Offsetting of liabilities as of September 30, 2020 and December 31, 2019 was as follows:
 Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Statement of Financial ConditionNet Amounts of Liabilities Presented in the Statement of Financial ConditionFinancial
Instruments		Cash Collateral
Pledged		Net Amount
 (in thousands)
September 30, 2020:
Securities loaned$15,150 $— $15,150 $— $(14,254)$896 
Derivatives$28,230 $— $28,230 $— $(3,553)$24,677 
Short exchange-traded options$11,091 $— $11,091 $— $— $11,091 
December 31, 2019:      
Derivatives$19,259 $— $19,259 $— $(4,276)$14,983 
Short exchange-traded options$12,348 $— $12,348 $— $— $12,348 
Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of September 30, 2020 and December 31, 2019 was as follows:
 Gross Amounts of Recognized LiabilitiesGross Amounts Offset in the Statement of Financial ConditionNet Amounts of Liabilities Presented in the Statement of Financial ConditionFinancial
Instruments		Cash Collateral
Pledged		Net Amount
 (in thousands)
September 30, 2020:
Derivatives - VIEs$4,391 $— $4,391 $— $(3,697)$694 
Derivatives - VOEs$1,155 $— $1,155 $— $(1,155)$— 
December 31, 2019:     
Derivatives - VIEs$4,559 $— $4,559 $— $(3,155)$1,404 
Derivatives - VOEs$5,083 $— $5,083 $— $(1,201)$3,882