Investments (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Investments

Investments consist of:

	September 30, 2024		December 31, 2023
	(in thousands)
Equity securities:
Long-term incentive compensation-related	$	26,956	$	18,882
Seed capital	171,850		128,771
Equities	73		—
Investments in limited partnership hedge funds:
Long-term incentive compensation-related	10,328		21,151
Seed capital	18,736		57,624
Investment in joint ventures	287,829		—
Time deposits	6,320		6,517
Other	11,492		10,609
Total investments	$	533,584	$	243,554

Schedule of 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 September 30, 2024 and 2023 were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(in thousands)
Net gains (losses) recognized during the period	$	8,321	$	(4,991)	$	20,365	$	3,456
Less: net gains recognized during the period on equity securities sold during the period	318		754		6,345		6,603
Unrealized gains (losses) recognized during the period on equity securities held	$	8,003	$	(5,745)	$	14,020	$	(3,147)