Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities
Consolidated net income (loss)	$ (6,399)	$ (5,336)	[1]
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	63	62	[1]
Net (gain) loss on investments	18	(43)	[1]
Non-cash equity-based compensation	343	332	[1]
Interest expense on notes payable	2	0	[1]
Operating cash flows due to changes in:
Income and fees receivable	927	8,153	[1]
Due from related parties	(198)	22	[1]
Prepaid expenses	(134)	(976)	[1]
Other assets	(715)	(37)	[1]
Deferred tax asset	0	(568)	[1]
Compensation payable	(994)	(4,892)	[1]
Due to related parties	(15)	91	[1]
Fees payable	(375)	16	[1]
Other liabilities	162	280	[1]
Consolidated Funds related items:
Net Cash Provided by (Used in) Operating Activities	(18,827)	(2,897)	[1]
Cash Flows from Investing Activities
Purchases of fixed assets, net	0	(67)	[1]
Distributions from investments in affiliates	57	17
Purchases of investments	(11)	0	[1]
Proceeds from sales of investments	8,174	0	[1]
Net Cash Provided by (Used in) Investing Activities	8,220	(50)	[1]
Cash Flows from Financing Activities
Net proceeds from Business Combination	0	73,516	[1]
Ending cash at HF2 Financial Management, Inc.	0	2	[1]
Proceeds from issuance of notes payable	0	1,250	[1]
Contributions from non-controlling interests in Consolidated Funds	4,907	0	[1]
Distributions to non-controlling interests in ZGP	(142)	0	[1]
Net Cash Provided by (Used in) Financing Activities	4,765	74,768	[1]
Net increase (decrease) in cash and cash equivalents denominated in foreign currency	(49)	195	[1]
Net increase (decrease) in cash and cash equivalents	(5,891)	72,016	[1]
Cash and cash equivalents, beginning of period	44,351	7,664	[1]
Cash and cash equivalents, end of period	38,460	79,680	[1]
Consolidated Entities [Member]
Adjustments to reconcile consolidated net income (loss) to net cash provided by (used in) operating activities:
Net (gain) loss on investments	(1,517)	0	[1]
Consolidated Funds related items:
Purchases of investments in affiliated securities	(10,000)	0	[1]
Net change in unrealized (gain) loss on investments	(1,517)	0	[1]
Change in cash and cash equivalents	33	0	[1]
Change in other liabilities	(28)	$ 0	[1]
Cash Flows from Financing Activities
Cash and cash equivalents, beginning of period	33
Cash and cash equivalents, end of period	$ 0

[1] Subsequent to the filing of the 10-Q for the three months ended March 31, 2015, the Company elected to early adopt ASU 2015-02 with an effective date of January 1, 2015. As a result of this adoption, all of the ZAIS Managed Entities which were consolidated in the 10-Q for the three months ended March 31, 2015 were deconsolidated. The March 31, 2015 figures above reflect the consolidated results of the Company for the three months ended March 31, 2015, subsequent to the adoption of ASU 2015-02.