Investment (Tables)

9 Months Ended

Sep. 30, 2020

Investments [Abstract]

Schedule of investment components

Investments are comprised of the following as of the dates indicated (in millions):

	September 30, 2020		December 31, 2019
Investments of consolidated Funds held at fair value	$	—	$	119.5
Other investments held at fair value	48.6		95.5
Investments related to long-term incentive compensation plans held at fair value	66.1		88.8
Total investments held at fair value	114.7		303.8
Equity-accounted investments in Affiliates and consolidated Funds(1)	103.7		73.1
Total investments per Condensed Consolidated Balance Sheets	218.4		376.9
Investments related to long-term incentive compensation plans of an Affiliate held for sale held at fair value (Note 3)	27.0		—
Investments of consolidated Funds held for sale held at fair value (Note 3)	112.9		—
Total investments held for sale	139.9		—
Total investments and investments held for sale per Condensed Consolidated Balance Sheets	$	358.3	$	376.9

(1)Equity-accounted investments in consolidated Funds is comprised of Investments in partnership interests where a portion of return includes carried interest. These investments are accounted for within the scope of ASC 323, Investments - Equity Method and Joint Ventures because the Company has determined it has significant influence.

Investment income

Investment income is comprised of the following for the three and nine months ended September 30 (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Realized and unrealized gains (losses) on other investments held at fair value	$	2.9	$	1.5	$	(5.4)	$	9.3
Earnings from equity-accounted investments in Affiliates	1.0		0.8		2.2		2.1
Total investment income (loss) per Condensed Consolidated Statements of Operations	$	3.9	$	2.3	$	(3.2)	$	11.4

Investment gains (losses) on net consolidated funds is comprised of the following for the three and nine months ended September 30 (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Realized and unrealized gains (losses) on consolidated Funds held at fair value	$	2.9	$	(0.4)	$	(7.6)	$	2.6
Earnings from equity-accounted investments	(0.8)		5.1		28.1		11.2
Total net consolidated Funds’ investment gains per Condensed Consolidated Statements of Operations	$	2.1	$	4.7	$	20.5	$	13.8