Investments (Tables)

12 Months Ended

Dec. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Summary of Investments

Investments consist of:

	Years Ended December 31
	2023			2022
	(in thousands)
Equity securities:
Long-term incentive compensation-related		$	18,882		$	21,055
Seed capital		128,771			138,012
Investments in limited partnership hedge funds:
Long-term incentive compensation-related		21,151			26,815
Seed capital		57,624			15,711
Time deposits		6,517			7,750
Other		10,609			8,175
Total investments		$	243,554		$	217,518

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, 2023 and 2022 were as follows:

	Years Ended December 31
	2023			2022
	(in thousands)
Net gains (losses) recognized during the period		$	14,372		$	(23,855)
Less: net gains recognized during the period on equity securities sold during the period		6,132			17,960
Unrealized gains (losses) recognized during the period on equity securities held		$	8,240		$	(41,815)