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Borrowings (Tables)
 9 Months Ended
Sep. 30, 2020
Debt Instrument [Line Items]  
Schedule of debt obligations
The Company borrows and enters into credit agreements for its general operating and investment purposes. The Company’s debt obligations consist of the following:
 September 30, 2020December 31, 2019
 Borrowing
Outstanding		Carrying
Value		Borrowing
Outstanding		Carrying
Value
(Dollars in millions)
Global Credit Revolving Credit Facility $22.3 $22.3 $35.8 $35.8 
CLO Borrowings (See below)
350.0 347.8 324.9 324.0 
3.875% Senior Notes Due 2/01/2023
250.0 249.4 250.0 249.3 
5.625% Senior Notes Due 3/30/2043
600.0 600.6 600.0 600.7 
5.650% Senior Notes Due 9/15/2048
350.0 346.0 350.0 345.8 
3.500% Senior Notes Due 9/19/2029
425.0 421.0 425.0 420.7 
Total debt obligations$1,997.3 $1,987.1 $1,985.7 $1,976.3 
Summary of loans payable of consolidated funds
As of September 30, 2020 and December 31, 2019, the following borrowings were outstanding, which includes preferred shares classified as liabilities (Dollars in millions):
 As of September 30, 2020
 Borrowing
Outstanding		Fair ValueWeighted
Average
Interest Rate		 Weighted
Average
Remaining
Maturity in
Years
Senior secured notes$5,233.8 $5,002.8 1.75 %10.63
Subordinated notes, preferred shares and other140.9 178.9 N/A(1)10.36
Total$5,374.7 $5,181.7 
 
 As of December 31, 2019
 Borrowing
Outstanding		Fair ValueWeighted
Average
Interest Rate		 Weighted
Average
Remaining
Maturity in
Years
Senior secured notes$4,534.3 $4,446.4 1.87 %10.78
Subordinated notes, preferred shares and other214.9 238.8 N/A(1)10.90
Total$4,749.2 $4,685.2 
 
(1)The subordinated notes and preferred shares do not have contractual interest rates, but instead receive distributions from the excess cash flows of the CLOs.
CLO Borrowings  
Debt Instrument [Line Items]  
Schedule of debt obligations The Company’s outstanding CLO borrowings consist of the following (Dollars in millions):
Formation DateBorrowing Outstanding September 30, 2020Borrowing Outstanding December 31, 2019Maturity Date (1)Interest Rate as of September 30, 2020
February 28, 2017$77.5 $75.3 November 17, 20312.33%(2)
April 19, 201722.7 22.9 April 22, 20312.20%(3) (14)
June 28, 201722.9 22.9 July 22, 20312.19%(4) (14)
August 2, 201722.7 22.8 July 23, 20292.08%(5) (14)
August 2, 201720.4 19.5 August 3, 20221.75%(6)
August 14, 201722.4 22.6 August 15, 20302.11%(7) (14)
November 30, 201722.7 22.7 January 16, 20302.01%(8)(14)(16)
December 6, 201719.0 19.1 October 16, 20301.92%(9)(14)(16)
December 7, 201720.8 20.8 January 19, 20291.64%(10)(14)(16)
January 30, 201819.2 19.2 January 22, 20301.90%(11)(14)(16)
March 1, 201815.2 15.3 January 15, 20311.83%(12)(14)(16)
March 15, 201921.7 20.8 March 15, 20322.63%(13)
August 20, 201921.9 21.0 August 15, 20322.52%(15)
September 15, 202020.9 — April 15, 20331.59%(15)
$350.0 $324.9 

(1)    Maturity date is earlier of date indicated or the date that the CLO is dissolved.
(2)     Outstanding borrowing of €66.1 million; incurs interest at EURIBOR plus applicable margins as defined in the agreement.
(3)    Incurs interest at LIBOR plus 1.932%.
(4)     Incurs interest at LIBOR plus 1.923%.
(5)    Incurs interest at LIBOR plus 1.808%.
(6)    Original borrowing of €17.4 million; incurs interest at EURIBOR plus 1.75% and has full recourse to the Company.
(7)    Incurs interest at LIBOR plus 1.848%.
(8)    Incurs interest at LIBOR plus 1.731%.
(9)    Incurs interest at LIBOR plus 1.647%.
(10)    Incurs interest at LIBOR plus 1.365%.
(11)    Incurs interest at LIBOR plus 1.624%.
(12)    Incurs interest at LIBOR plus 1.552%.
(13) Incurs interest at the average effective interest rate of each class of purchased securities plus 0.50% spread percentage and 0.08% class A-1 periodic adjustment rate up to €54,120.
(14)    Term loan issued under master credit agreement.
(15) Incurs interest at the average effective interest rate of each class of purchased securities plus 0.50% spread percentage.
(16) CLO Indentures for the respective CLO borrowings entered on November 30, 2017 and after provide for an alternative rate framework determined at the Company’s discretion upon a trigger event of LIBOR.
Senior Notes  
Debt Instrument [Line Items]  
Schedule of debt obligations
Senior Notes
Certain indirect subsidiaries of the the Company have issued long term borrowings in the form of senior notes, on which interest is payable semi-annually in arrears. The following table provides information regarding these senior notes (Dollars in millions):
Interest Expense
Fair Value (1)
As of
Three Months Ended
September 30,		Nine Months Ended
September 30,
Aggregate Principal AmountSeptember 30, 2020December 31, 20192020201920202019
3.875% Senior Notes Due 2/1/2023 (2)(6)
$250.0 $268.9 $262.8 $2.5 $2.5 $7.5 $7.3 
5.625% Senior Notes Due 3/30/2043 (3)
600.0 750.3 713.4 8.4 8.3 25.3 25.1 
5.650% Senior Notes Due 9/15/2048 (4)
350.0 454.2 424.0 5.0 4.9 14.9 14.8 
3.500% Senior Notes Due 9/19/2029 (5)
425.0 463.3 430.2 3.8 0.5 11.5 0.5 
$19.7 $16.2 $59.2 $47.7 
(1) Including accrued interest. Fair value is based on indicative quotes and the notes are classified as Level II within the fair value hierarchy.
(2) Issued in January 2013 at 99.966% of par.
(3) Issued $400.0 million in aggregate principal at 99.583% of par in March 2013. An additional $200.0 million in aggregate principal was issued at 104.315% of par in March 2014, and is treated as a single class with the outstanding $400.0 million in senior notes previously issued.
(4) Issued in September 2018 at 99.914% of par.
(5) Issued in September 2019 at 99.841% of par.
(6) In September 2018, the Company completed a tender offer to re-purchase $250.0 million in aggregate principal amount of the 3.875% senior notes.