Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying amount of intangible assets

The following table summarizes the carrying amount of intangible assets as of December 31, 2015 and 2014:

	As of December 31,
	2015			2014
	(Dollars in millions)
Acquired contractual rights	$	830.4		$	843.0
Acquired trademarks	6.6			6.7
Accumulated amortization	(739.6		)	(455.1		)
Finite-lived intangible assets, net	97.4			394.6
Goodwill	38.3			47.5
Intangible assets, net	$	135.7		$	442.1

Summary of changes in the carrying amount of goodwill by segment

The following table summarizes the changes in the carrying amount of goodwill by segment as of December 31, 2015. There was no goodwill associated with the Partnership’s Corporate Private Equity and Real Assets segments.

	Global Market Strategies		Investment Solutions			Total
	(Dollars in millions)
Balance as of December 31, 2014	$	28.0	$	19.5		$	47.5
Impairment charge	—		(7.0		)	(7.0		)
Foreign currency translation	—		(2.2		)	(2.2		)
Balance as of December 31, 2015	$	28.0	$	10.3		$	38.3

Summary of estimated amortization expense, excluding impairment losses

The following table summarizes the expected amortization expense for 2016 through 2020 and thereafter (Dollars in millions):

2016	$	36.7
2017	31.6
2018	15.6
2019	5.4
2020	5.4
Thereafter	2.7
	$	97.4