XML 40 R10.htm IDEA: XBRL DOCUMENT v3.3.1.900
Business Changes and Developments
12 Months Ended
Dec. 31, 2015
Business Changes and Developments [Abstract]  
Business Changes and Developments
Business changes and developments
Private Equity sale
As part of the Firm’s business simplification agenda, the sale of a portion of the Private Equity Business (“Private Equity sale”) was completed on January 9, 2015. Concurrent with the sale, a new independent management company was formed by the former One Equity Partners investment professionals. The new management company provides investment management services to the acquirer of the investments sold in the Private Equity sale and to the Firm for the portion of the private equity investments that were retained by the Firm. The sale of the investments did not have a material impact on the Firm’s Consolidated balance sheets or its results of operations.