Revenue Recognition (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Summary of Revenues

Revenues for the three months ended March 31, 2026 and 2025 consisted of the following:

	Three Months Ended March 31,
	2026		2025
	(in thousands)
Subject to contracts with customers:
Investment advisory and services fees
Base fees	$	849,182	$	817,866
Performance-based fees	66,032		37,246
Distribution revenues
All-in-management fees	90,808		88,444
12b-1 fees	14,766		16,252
Other distribution fees	97,244		94,324
Other revenues
Shareholder servicing fees	24,188		16,642
JV related revenues	6,361		9,334
Other	4,065		3,763
	1,152,646		1,083,871
Not subject to contracts with customers:
Dividend and interest income, net of broker-dealer related interest expense	17,465		16,833
Investment gains (losses)	31,059		(20,538)
Other revenues	556		441
	49,080		(3,264)
Total net revenues	$	1,201,726	$	1,080,607