Segment Operating Results (Tables)

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Information Regarding Operations By Segment

The following information presents each segment's contribution.

	For the Years Ended December 31,
	2016		2015			2014
Investment Banking
Net Revenues (1)	$	1,363,859	$	1,130,915		$	819,637
Operating Expenses	1,020,327		869,301			632,927
Other Expenses (2)	92,172		108,739			25,109
Operating Income	251,360		152,875			161,601
Income from Equity Method Investments	1,370		978			495
Pre-Tax Income	$	252,730	$	153,853		$	162,096
Identifiable Segment Assets	$	1,302,351	$	1,097,373		$	934,648
Investment Management
Net Revenues (1)	$	76,193	$	92,358		$	96,221
Operating Expenses	57,379		77,231			86,547
Other Expenses (2)	9,000		39,332			328
Operating Income (Loss)	9,814		(24,205		)	9,346
Income from Equity Method Investments	5,271		5,072			4,685
Pre-Tax Income (Loss)	$	15,085	$	(19,133	)	$	14,031
Identifiable Segment Assets	$	359,995	$	381,798		$	511,908
Total
Net Revenues (1)	$	1,440,052	$	1,223,273		$	915,858
Operating Expenses	1,077,706		946,532			719,474
Other Expenses (2)	101,172		148,071			25,437
Operating Income	261,174		128,670			170,947
Income from Equity Method Investments	6,641		6,050			5,180
Pre-Tax Income	$	267,815	$	134,720		$	176,127
Identifiable Segment Assets	$	1,662,346	$	1,479,171		$	1,446,556

(1) Net revenues include Other Revenue, net, allocated to the segments as follows:

	For the Years Ended December 31,
	2016			2015			2014
Investment Banking (A)	$	(239	)	$	(2,945	)	$	(1,722	)
Investment Management (B)	386			(2,771		)	(2,530		)
Total Other Revenue, net	$	147		$	(5,716	)	$	(4,252	)

(A) Investment Banking Other Revenue, net, includes interest expense on the Notes Payable, subordinated borrowings and the line of credit of $9,578, $6,041 and $4,470for the years ended December 31, 2016, 2015 and 2014, respectively.

(B) Investment Management Other Revenue, net, includes interest expense on the Notes Payable and the line of credit of $670, $3,576 and $3,770for the years ended December 31, 2016, 2015 and 2014, respectively.

(2) Other Expenses are as follows:

	For the Years Ended December 31,
	2016			2015		2014
Investment Banking
Amortization of LP Units / Interests and Certain Other Awards	$	80,846		$	83,673	$	3,399
Other Acquisition Related Compensation Charges	—			1,537		7,939
Special Charges	—			2,151		4,893
Professional Fees	—			—		1,672
Acquisition and Transition Costs	(692		)	4,879		4,712
Fair Value of Contingent Consideration	1,107			2,704		—
Intangible Asset and Other Amortization	10,911			13,795		2,494
Total Investment Banking	92,172			108,739		25,109
Investment Management
Special Charges	8,100			38,993		—
Acquisition and Transition Costs	791			11		—
Intangible Asset and Other Amortization	109			328		328
Total Investment Management	9,000			39,332		328
Total Other Expenses	$	101,172		$	148,071	$	25,437

Revenues Derived from Clients and Private Equity Funds by Geographical Areas

The Company's revenues were derived from clients and private equity funds located and managed in the following geographical areas:

	For the Years Ended December 31,
	2016		2015		2014
Net Revenues: (1)
United States	$	1,056,796	$	900,672	$	608,631
Europe and Other	338,285		287,884		248,815
Latin America	44,824		40,433		62,664
Total	$	1,439,905	$	1,228,989	$	920,110

(1) Excludes Other Revenue and Interest Expense

Assets by Geographic Areas

The Company's total assets are located in the following geographical areas:

	December 31,
	2016		2015
Total Assets:
United States	$	1,376,101	$	1,135,570
Europe and Other	190,380		221,358
Latin America	95,865		122,243
Total	$	1,662,346	$	1,479,171