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Asset Management Fees
 6 Months Ended
Jun. 30, 2022
Revenue from Contract with Customer [Abstract]  
Asset Management Fees Asset Management Fees
    The following table presents the sources of asset management fees on a consolidated basis.

Asset Management Fees
Second QuarterSix Months
2022202120222021
 (in millions)
Management fees:
CLOs (1)
$8 $11 $17 $22 
Opportunity funds and liquid strategies8 4 12 8 
Wind-down funds— 1 1 4 
Total management fees16 16 30 34 
Performance fees1 — 15 1 
Reimbursable fund expenses4 5 10 10 
Total asset management fees$21 $21 $55 $45 
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(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 $8 million, $11 million, $17 million and $25 million for second quarter 2022, second quarter 2021, six months 2022 and six months 2021, respectively.
    The Company had management and performance fees receivable, which are included in other assets on the condensed consolidated balance sheets, of $11 million as of June 30, 2022 and $8 million as of December 31, 2021. Performance fees in six months 2022 were attributable to the healthcare and asset-based funds.