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Asset Management Fees (Tables)

3 Months Ended

Mar. 31, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents the sources of asset management fees and performance fees on a consolidated basis.

Asset Management Fees

			First Quarter
			2022						2021
			(in millions)
Management fees:
CLOs (1)			$	9					$	11
Opportunity funds and liquid strategies			4						4
Wind-down funds			1						3
Total management fees			14						18
Performance fees			14						1
Reimbursable fund expenses			6						5
Total asset management fees			$	34					$	24

_____________________

(1)    To the extent that the Company’s wind-down and/or opportunity funds are invested in AssuredIM managed CLOs, AssuredIM may rebate any management fees and/or performance fees earned from the CLOs. Gross management fees from CLOs, before rebates, were $9 million and $14 million for First Quarter 2022 and First Quarter 2021, respectively.

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- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045

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- References

No definition available.

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