Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
Assets
Investments	$ 222.5	$ 221.9
Total assets	751.4	703.2
Liabilities and stockholders’ equity
Operating lease liabilities	62.3
Total liabilities	640.1	616.1
Commitments and contingencies (Note 8)
Equity:
Total equity and redeemable non-controlling interests in consolidated Funds	111.3	87.1
Total liabilities and equity	751.4	703.2
Consolidated Entity Excluding Consolidated Funds
Assets
Cash and cash equivalents	117.3	94.8
Investment advisory fees receivable	139.0	164.7
Income taxes receivable	13.7	3.0
Fixed assets, net	31.4	35.7
Right of use assets	48.2	52.5
Investments	40.8	67.9
Goodwill	20.3	20.3
Other assets	28.3	26.7
Deferred tax assets	74.5	78.3
Liabilities and stockholders’ equity
Accounts payable and accrued expenses	34.0	37.9
Accrued incentive compensation	96.2	119.6
Other compensation liabilities	115.5	92.5
Accrued income taxes	2.4	3.3
Operating lease liabilities	62.3	67.3
Revolving credit facility	0.0	0.0
Third party borrowings	274.6	274.3
Equity:
Common stock (par value $0.001; 35,709,043 and 37,477,707 shares, respectively, issued)	0.0	0.0
Additional paid-in capital	0.0	0.0
Retained earnings	21.9	24.4
Accumulated other comprehensive loss	(1.5)	(4.4)
Consolidated Funds
Assets
Cash and cash equivalents	21.4
Investments	181.7	154.0
Other assets	34.8	1.6
Cash and cash equivalents, restricted	21.4	3.7
Liabilities and stockholders’ equity
Accounts payable and accrued expenses	22.8	0.5
Other liabilities	6.3	0.3
Securities sold short	26.0	20.4
Redeemable non-controlling interests in consolidated Funds	$ 90.9	$ 67.1