Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2025	Dec. 31, 2024
Assets
Investments	$ 225.7	$ 221.9
Total assets	672.3	703.2
Liabilities and stockholders’ equity
Operating lease liabilities	63.8
Total liabilities	585.4	616.1
Commitments and contingencies (Note 8)
Equity:
Total equity and redeemable non-controlling interests in consolidated Funds	86.9	87.1
Total liabilities and equity	672.3	703.2
Consolidated Entity Excluding Consolidated Funds
Assets
Cash and cash equivalents	90.2	94.8
Investment advisory fees receivable	124.2	164.7
Income taxes receivable	6.7	3.0
Fixed assets, net	32.8	35.7
Right of use assets	49.5	52.5
Investments	55.2	67.9
Goodwill	20.3	20.3
Other assets	29.9	26.7
Deferred tax assets	82.7	78.3
Liabilities and stockholders’ equity
Accounts payable and accrued expenses	31.8	37.9
Accrued incentive compensation	66.0	119.6
Other compensation liabilities	99.7	92.5
Accrued income taxes	2.5	3.3
Operating lease liabilities	63.8	67.3
Revolving credit facility	20.0	0.0
Third party borrowings	274.5	274.3
Equity:
Common stock (par value $0.001; 35,811,913 and 37,477,707 shares, respectively, issued)	0.0	0.0
Additional paid-in capital	0.0	0.0
Retained earnings	11.3	24.4
Accumulated other comprehensive loss	(2.1)	(4.4)
Consolidated Funds
Assets
Cash and cash equivalents	3.7
Investments	170.5	154.0
Other assets	6.6	1.6
Cash and cash equivalents, restricted	3.7	3.7
Liabilities and stockholders’ equity
Accounts payable and accrued expenses	1.1	0.5
Other liabilities	0.3	0.3
Securities sold short	25.7	20.4
Redeemable non-controlling interests in consolidated Funds	$ 77.7	$ 67.1