Investments (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

Investments consist of:

	Years Ended December 31
	2022			2021
	(in thousands)
Equity securities:
Long-term incentive compensation-related		$	21,055		$	32,237
Seed capital		138,012			133,992
Other(1)		—			18,243
Exchange-traded options(1)		—			1,893
Investments in limited partnership hedge funds:
Long-term incentive compensation-related		26,815			31,602
Seed capital		15,711			19,318
Time deposits		7,750			21,024
Other		8,175			15,109
Total investments		$	217,518		$	273,418

(1)Amounts have been classified as held for sale on the consolidated statement of financial position as of December 31, 2022. For further discussion, see Note 24 Acquisitions and Divestitures.

Summary of the Cost and Fair Value of Available-For-Sale and Trading Investments

The portion of unrealized gains (losses) related to equity securities, as defined by ASC 321-10, held as of December 31, 2022 and 2021 were as follows:

	Years Ended December 31
	2022			2021
	(in thousands)
Net (losses) gains recognized during the period		$	(23,855)		$	19,240
Less: net gains recognized during the period on equity securities sold during the period		17,960			23,697
Unrealized losses recognized during the period on equity securities held		$	(41,815)		$	(4,457)