CONSOLIDATED INVESTMENT PRODUCTS (Tables)

6 Months Ended

Jun. 30, 2023

Consolidated Investment Products [Abstract]

Fair Value Hierarchy Levels of Investments Held and Notes Issued by Consolidated Investment Products

The following tables present the fair value hierarchy levels of certain CIP balances which are measured at fair value as of June 30, 2023 and December 31, 2022:

	As of June 30, 2023
$ in millions	Fair Value Measurements	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)	Investments Measured at NAV as a practical expedient
Assets:
Bank loans	6,571.1	—	6,187.2	383.9	—
Bonds	727.3	14.0	713.3	—	—
Equity securities	226.4	88.3	38.8	99.3	—
Equity and fixed income mutual funds	171.4	25.8	145.6	—	—
Investments in other private equity funds	412.5	—	—	7.6	404.9
Real estate investments	502.6	—	—	—	502.6
Total assets at fair value	8,611.3	128.1	7,084.9	490.8	907.5

	As of December 31, 2022
$ in millions	Fair Value Measurements	Quoted Prices in Active Markets for Identical Assets (Level 1)	Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level 3)	Investments Measured at NAV as a practical expedient
Assets:
Bank loans	6,315.1	—	6,069.8	245.3	—
Bonds	697.5	8.8	688.2	0.5	—
Equity securities	274.9	129.9	29.8	115.2	—
Equity and fixed income mutual funds	230.7	38.8	191.9	—	—
Investments in other private equity funds	461.2	—	—	7.6	453.6
Real estate investments	552.0	—	—	—	552.0
Total assets at fair value	8,531.4	177.5	6,979.7	368.6	1,005.6

Beginning And Ending Fair Value Measurements For Level Three Assets And Liabilities Table Text Block

The following table shows a reconciliation of the beginning and ending fair value measurements for level 3 assets using significant unobservable inputs:

	For the three months ended June 30,
	2023	2022
$ in millions	Level 3 Assets	Level 3 Assets
Beginning Balance as of April 1	351.3	255.3
Purchases	210.4	0.1
Sales	(28.7)	(2.0)
Deconsolidation of CIP	—	—
Gains and losses included in the Consolidated Statements of Income	6.4	(1.5)
Transfers from Level 3 into Levels 1 or 2	(112.3)	(61.6)
Transfers into Level 3 from Levels 1 or 2	63.7	138.3
Foreign exchange	—	(0.3)
Ending Balance as of June 30	490.8	328.3

	For the six months ended June 30,
	2023	2022
$ in millions	Level 3 Assets	Level 3 Assets
Beginning Balance as of January 1	368.6	239.5
Purchases	210.5	0.1
Sales	(42.1)	(8.5)
Deconsolidation of CIP	(0.6)	—
Gains and losses included in the Consolidated Statements of Income	(1.3)	(2.2)
Transfers from Level 3 into Levels 1 or 2	(242.5)	(93.4)
Transfers into Level 3 from Levels 1 or 2	195.9	193.4
Foreign exchange	2.3	(0.6)
Ending Balance as of June 30	490.8	328.3