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Related Parties

12 Months Ended

Dec. 31, 2011

Related Parties [Abstract]

Related Parties

Note 6 – Related Parties

The Company remits payment for expenses on behalf of the private equity funds and is reimbursed accordingly. For the years ended December 31, 2011, 2010 and 2009, the Company disbursed $1,833, $1,301 and $1,313, respectively, on behalf of these entities.

Investment Management Revenue includes income from related parties earned from the Company's private equity funds for portfolio company fees, management fees, expense reimbursements and realized and unrealized gains and losses of private equity fund investments. Total Investment Management revenues from related parties amounted to $6,696, $8,346 and $5,031 for the years ended December 31, 2011, 2010 and 2009, respectively.

Receivable from Employees and Related Parties on the Consolidated Statements of Financial Condition consisted of the following at December 31, 2011 and 2010:


		December 31,
		2011				2010
Advances to Employees		$	4,830			$	1,994
Personal Expenses Paid on Behalf of Employees and Related Parties			49				240
Receivable from Affiliates			689				—
Reimbursable Expenses Due From Portfolio Companies of the Company's Private Equity Funds			636				485
Reimbursable Expenses Relating to the Private Equity Funds			1,589				746

Receivable from Employees and Related Parties		$	7,793			$	3,465

Payable to Employees and Related Parties on the Consolidated Statements of Financial Condition consisted of the following at December 31, 2011 and 2010:


		December 31,
		2011				2010
Board of Director Fees		$	235			$	205
Lexicon Deferred Consideration Payable			358				—
Amounts Due to Former Members of Lexicon			5,844				—
Amounts Due Pursuant to Tax Receivable Agreements(a)			6,210				3,976

Payable to Employees and Related Parties		$	12,647			$	4,181

(a)	Relates to the current portion of the Member exchange of LP Units for Class A Shares. The long-term portion of $137,448 and $97,427 is disclosed in Amounts Due Pursuant to Tax Receivable Agreements on the Consolidated Statements of Financial Condition at December 31, 2011 and 2010, respectively.

The entire disclosure for related party transactions, including the nature of the relationship(s), a description of the transactions, the amount of the transactions, the effects of any change in the method of establishing the terms of the transaction from the previous period, stated interest rate, expiration date, terms and manner of settlement per the agreement with the related party, and amounts due to or from related parties. If the entity and one or more other entities are under common ownership or management control and this control affects the operating results or financial position, disclosure includes the nature of the control relationship even if there are no transactions between the entities. Disclosure may also include the aggregate amount of current and deferred tax expense for each statement of earnings presented where the entity is a member of a group that files a consolidated tax return, the amount of any tax related balances due to or from affiliates as of the date of each statement of financial position presented, the principal provisions of the method by which the consolidated amount of current and deferred tax expense is allocated to the members of the group and the nature and effect of any changes in that method. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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