XML 79 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
Related Parties
12 Months Ended
Dec. 31, 2012
Related Party Transactions [Abstract]  
Related Parties
Related Parties
At December 31, 2012, the Company had no amounts payable to related parties. At December 31, 2011, the Company had payables of $3,129, due to the affiliated merchant banking funds which related to general operating expenses, and are included in accounts payable and accrued expenses on the consolidated statements of financial condition.
In conjunction with the sale of certain assets of the merchant banking business, the Company agreed to sublease office space to GCP Capital for a period of three to five years beginning in April 2011. The Company also subleases airplane and office space to a firm owned by the Chairman of the Company. The Company recognized rent reimbursements of $1.7 million, $1.5 million and $0.1 million for the years ended December 31, 2012, 2011 and 2010 respectively, as a reduction of occupancy and equipment rental on the consolidated statements of income. During 2012, 2011 and 2010, the Company paid $67,840, $24,745 and $10,312, respectively, for the use of an aircraft owned by an executive of the Company.