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Borrowings and Debt (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long Term Debt
The Company’s borrowings and long-term debt were comprised of the following as of the dates indicated (in millions):
December 31, 2024December 31, 2023
(in millions)Carrying valueFair ValueFair Value LevelCarrying valueFair ValueFair Value Level
Revolving credit facility:
$140 million revolving credit facility expiring August 29, 2027(1)(2)
$— $— $— $— 
Total revolving credit facility$— $— $— $— 
Third-party borrowings:
$275 million 4.80% Senior Notes Due July 27, 2026(3)
274.3 271.7 2273.9 263.1 2
Total third-party borrowings
$274.3 $271.7 $273.9 $263.1 
(1)Fair value approximates carrying value because the credit facility has variable interest rates based on selected short term market rates.
(2)On August 29, 2024, Acadian LLC’s $125 million revolving credit facility was terminated and replaced with a new $140 million revolving credit facility.
(3)The difference between the principal amounts and the carrying values of the senior notes in the table above reflects the unamortized debt issuance costs and discounts.
Schedule of Aggregate Maturities of Debt Commitments
As of December 31, 2024, the aggregate maturities of debt commitments, based on their contractual terms, are as follows:
 Future minimum
debt commitments
2025$— 
2026275.0 
2027— 
2028— 
2029— 
Thereafter— 
Total$275.0