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Fair Value Measurements (Tables)
 9 Months Ended
Aug. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The balances of the Company’s assets measured at fair value on a recurring basis as of August 31, 2020, are as follows (in thousands):
Level 1Level 2Level 3Total Fair Value
Assets:
Investment in limited partnership$— $— $152,450 $152,450 
$— $— $152,450 $152,450 

The balances of the Company’s assets measured at fair value on a recurring basis as of November 30, 2019, are as follows (in thousands):
Level 1Level 2Level 3Total Fair
Value
Assets:
Investment in limited partnership$— $— $137,849 $137,849 
Investment in life settlements — — 1,297 1,297 
$— $— $139,146 $139,146 
Schedule of Quantitative Information about Level 3 Fair Value Measurements
The below is a quantitative analysis of the Company's level 3 assets fair value measurements at August 31, 2020:
($ in thousands)Quantitative Information about Level 3 Fair Value Measurements
Fair Value
at 8/31/2020		Aggregate
death benefit
at 8/31/20		Valuation Technique Unobservable InputRange (Weighted Average)
Investment in limited partnership$152,450 $663,033 Discounted cash flowDiscount rate14.04%
Life expectancy evaluation, distributions, return on investment
Schedule of Market Interest Rate Sensitivity Analysis
Market interest rate sensitivity analysis of the investment in limited partnership

The extent to which the fair value of the investment in limited partnership could vary in the near term has been quantified by evaluating the effect of changes in the weighted average discount. If the weighted average discount rate were increased or decreased by 1/2 of 1% and the other assumptions used to estimate fair value remained the same, the change in estimated fair value of investment in limited partnership as of August 31, 2020 would be as follows (dollars in thousands):
Weighted Average Rate Rate AdjustmentValueChange in Value
13.54%(0.50)%$156,438 $3,988 
14.04%— $152,450 $— 
14.54%0.50 %$148,616 $(3,834)
Schedule of Changes in Fair Value for All Assets Using Material Level of Unobservable (Level 3) Inputs
The following tables provides a roll-forward in the changes in fair value for the nine months ended August 31, 2020, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):

Life Settlements - Consolidated:
Balance, December 1, 2019$1,297 
Sale of policies(2,040)
Gain on sale of life settlement743 
Change in fair value— 
Premiums paid— 
Balance, August 31, 2020$— 
Changes in fair value included in earnings for the period relating to assets held at August 31, 2020$— 

Investment in Limited Partnership
Balance, December 1, 2019$137,849 
Change in fair value 20,601 
Distributions
(6,000)
Balance, August 31, 2020$152,450 
Changes in fair value included in earnings for the period relating to assets held at August 31, 2020$14,601 
The following tables provides a roll-forward in the changes in fair value for the periods ended August 31, 2019, for all assets for which the Company determines fair value using a material level of unobservable (Level 3) inputs, which consists solely of life settlements (in thousands):
Life Settlements - Consolidated:
Balance, December 1, 2018$1,172 
Purchase of policies— 
Change in fair value(37)
Matured/lapsed/sold polices— 
Premiums paid118 
Balance, August 31, 2019$1,253 
Changes in fair value included in earnings for the period relating to assets held at August 31, 2019$(37)
Life Settlements - Deconsolidated:
Balance, December 1, 2018$505,235 
Purchase of policies— 
Change in fair value(16,841)
Receivable for maturity of life settlement write off 17,800 
Policies sold(344,845)
Policies matured(100,373)
Premiums paid69,827 
Transfer to investment in limited partnership
(130,803)
Balance at, August 31, 2019
$— 
Changes in fair value included in earnings for the period relating to deconsolidated assets held at August 31, 2019$— 
The following table provides a roll-forward in the changes in fair value for the period ended August 31, 2019, for the investment in deconsolidated subsidiaries for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
Investment in Deconsolidated Subsidiaries
Investment in Lamington at December 1, 2018
$128,795 
Change in fair value 37,941 
Transferred to consolidation

(166,736)
Investment in Lamington at August 31, 2019
$— 
Schedule of Changes in Fair Value for All Liabilities Using Material Level of Unobservable (Level 3) Inputs
The following tables provides a roll-forward in the changes in fair value for the periods ended August 31, 2019, for the White Eagle Revolving Credit Facility for which the Company determines fair value using a material level of unobservable (Level 3) inputs (in thousands):
White Eagle Revolving Credit Facility - Deconsolidated:
Balance, December 1, 2018
$346,670 
Draws under the White Eagle Revolving Credit Facility4,221 
Payments on White Eagle Revolving Credit Facility(367,985)
Unrealized change in fair value17,094 
Balance, August 31, 2019$— 
Changes in fair value included in earnings for the period relating to liabilities at August 31, 2019$—