Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities
Net income (loss)	$ 88,903	$ 51,824
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Bad debt expense	431	450
Depreciation and amortization	1,679	1,542
(Income) loss from equity method investments	(1,774)	(2,335)
Equity-based compensation	49,729	38,706
Deferred tax provision	8,116	(774)
Gain on equity method investment	(17,450)
Other	3,027	80
Changes in assets and liabilities:
Accounts receivable	(5,067)	1,444
Other receivables	(2,498)	(92)
Prepaid expenses and other assets	(6,497)	(26)
Deferred compensation	(535)	(1,788)
Compensation payable	(47,168)	(75,900)
Accounts payable and accrued expenses	(9,677)	(4,014)
Deferred revenue	(86)	2,353
Dividends received	11,672	804
Other liabilities	(182)	2,252
Net cash provided by (used in) operating activities	72,623	14,526
Cash flows from investing activities
Purchase of investments	(98,319)	(70,928)
Proceeds from sales of investments	53,000	46,000
Return of capital from equity method investments		9
Note payments received from employees	403
Notes issued to employees	(400)	(352)
Purchase of equipment and leasehold improvements	(3,013)	(2,286)
Change in restricted cash	64	21
Net cash provided by (used in) investing activities	(48,265)	(27,536)
Cash flows from financing activities
Dividends and distributions	(155,304)	(117,910)
Payments under tax receivable agreement	(5,032)
Payments to settle employee tax obligations on share-based awards	(9,266)	(2,609)
Proceeds from exercise of stock options	4,650
Class A partnership units and other equity purchased	(101)
Net cash provided by (used in) financing activities	(165,053)	(120,519)
Effect of exchange rate fluctuations on cash and cash equivalents	1,653	(1,366)
Net increase (decrease) in cash and cash equivalents	(139,042)	(134,895)
Cash and cash equivalents, beginning of period	318,926	248,022
Cash and cash equivalents, end of period	179,884	113,127
Cash paid during the period for:
Income taxes	20,352	14,719
Dividends paid, declared in the prior year	68,066
Other non-cash activity
Dividend equivalents issued	17,176	7,774
Dividend declared not paid	55,900
Class A Partnership Units or other equity converted into Class A Common Stock	23,557	$ 783
Exercised stock option proceeds receivable	647
Cumulative Effect Adjustment upon Adoption of ASU 2016-09	658
Forfeiture of fully-vested Group LP units or other equity units	$ 36