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Consolidated Company-Sponsored Investment Funds (Tables)
 6 Months Ended
Jun. 30, 2025
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:
June 30, 2025December 31, 2024
(in thousands)
VIEsVOEsTotalVIEsVOEsTotal
Cash and cash equivalents$15,518 $45 $15,563 $1,671 $318 $1,989 
Investments379,850 63,165 443,015 82,027 58,765 140,792 
Other assets25,958 934 26,892 1,317 13,484 14,801 
Total assets$421,326 $64,144 $485,470 $85,015 $72,567 $157,582 
Liabilities$35,285 $1,648 $36,933 $345 $1,371 $1,716 
Redeemable non-controlling interest241,556 20,235 261,791 31,670 16,819 48,489 
Partners' capital attributable to AB Unitholders144,485 42,261 186,746 53,000 54,377 107,377 
Total liabilities, redeemable non-controlling interest and partners' capital$421,326 $64,144 $485,470 $85,015 $72,567 $157,582 
Schedule of Redeemable Noncontrolling Interest
Changes in the redeemable non-controlling interest balance during the six-month period ended June 30, 2025 are as follows (in thousands):
Redeemable non-controlling interest as of December 31, 2024
$48,489 
Deconsolidated funds(873)
Changes in third-party seed investments in consolidated funds214,175 
Redeemable non-controlling interest as of June 30, 2025
$261,791 
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
Valuation of our financial instruments by pricing observability levels as of June 30, 2025 and December 31, 2024 was as follows (in thousands):
 Level 1Level 2Level 3
NAV Expedient(1)
Total
June 30, 2025:
Money markets$133,750 $— $— $— $133,750 
Securities segregated (U.S. Treasury Bills)— 481,760 — — 481,760 
Derivatives 322 26,728 — — 27,050 
Equity securities155,065 32,714 121 2,156 190,056 
Other investments9,040 — — — 9,040 
Total assets measured at fair value$298,177 $541,202 $121 $2,156 $841,656 
Securities sold not yet purchased:    
Short equities – corporate$707 $— $— $— $707 
Derivatives$2,582 $27,495 $— $— $30,077 
Contingent payment arrangements— — 8,520 — 8,520 
Total liabilities measured at fair value$3,289 $27,495 $8,520 $— $39,304 
December 31, 2024:
Money markets$146,781 $— $— $— $146,781 
Securities segregated (U.S. Treasury Bills)— 499,245 — — 499,245 
Derivatives 2,835 18,106 — — 20,941 
Equity securities193,766 5,921 121 2,016 201,824 
Other investments8,593 — — — 8,593 
Total assets measured at fair value$351,975 $523,272 $121 $2,016 $877,384 
Derivatives$33 $14,911 $— $— $14,944 
Contingent payment arrangements— — 9,385 — 9,385 
Total liabilities measured at fair value$33 $14,911 $9,385 $— $24,329 

(1) Investments measured at fair value using NAV (or its equivalent) as a practical expedient.
Valuation of consolidated company-sponsored investment funds' financial instruments by pricing observability levels as of June 30, 2025 and December 31, 2024 was as follows (in thousands):
 Level 1Level 2Total
June 30, 2025:
  Investments - VIEs$30,330 $349,520 $379,850 
  Investments - VOEs5,806 57,359 63,165 
  Derivatives - VIEs810 17,206 18,016 
  Derivatives - VOEs— 197 197 
Total assets measured at fair value$36,946 $424,282 $461,228 
Derivatives - VIEs$799 $17,240 $18,039 
  Derivatives - VOEs— 184 184 
Total liabilities measured at fair value$799 $17,424 $18,223 
December 31, 2024:
  Investments - VIEs$15,240 $66,787 $82,027 
  Investments - VOEs249 58,516 58,765 
  Derivatives - VIEs48 53 101 
  Derivatives - VOEs— 11,483 11,483 
Total assets measured at fair value$15,537 $136,839 $152,376 
Derivatives - VIEs$72 $13 $85 
Total liabilities measured at fair value$72 $13 $85 
Schedule of Offsetting of Derivative Assets
Offsetting of assets as of June 30, 2025 and December 31, 2024 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 Collateral		Cash Collateral
Received		Net
Amount
 (in thousands)
June 30, 2025:
Securities borrowed$14,693 $— $14,693 $(14,270)$— $423 
Derivatives$27,050 $— $27,050 $(3,667)$23,383 
December 31, 2024:      
Securities borrowed$1,144 $— $1,144 $(1,044)$— $100 
Derivatives$20,941 $— $20,941 $— $(10,357)$10,584 
Offsetting of derivative assets of consolidated company-sponsored investment funds as of June 30, 2025 and December 31, 2024 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 Collateral		Cash Collateral
Received		Net
Amount
 (in thousands)
June 30, 2025:
Derivatives - VIEs$18,016 $— $18,016 $— $(28)$17,988 
Derivatives - VOEs$197 $— $197 $— $— $197 
December 31, 2024:     
Derivatives - VIEs$101 $— $101 $— $(2)$99 
Derivatives - VOEs11,483 — 11,483 — — 11,483 
Schedule of Offsetting of Derivative Liabilities
Offsetting of liabilities as of June 30, 2025 and December 31, 2024 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 Collateral		Cash Collateral
Pledged		Net Amount
 (in thousands)
June 30, 2025:
Securities loaned$5 $— $5 $(5)$— $— 
Derivatives$30,077 $— $30,077 $— $(13,374)$16,703 
December 31, 2024:      
Derivatives$14,944 $— $14,944 $— $(5,188)$9,756 
Offsetting of derivative liabilities of consolidated company-sponsored investment funds as of June 30, 2025 and December 31, 2024 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 Collateral		Cash Collateral
Pledged		Net Amount
 (in thousands)
June 30, 2025:
Derivatives - VIEs$18,039 $— $18,039 $— $(722)$17,317 
Derivatives - VOEs$184 $— $184 $— $— $184 
December 31, 2024:     
Derivatives - VIEs$85 $— $85 $— $(85)$—