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GOODWILL AND INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill and Intangible Assets
Goodwill and intangible assets consist of the following:

(in millions)As of December 31,
20232022
Goodwill$2,642.8 $2,642.8 
Indefinite-lived intangible assets - trade name117.1 117.1 
Indefinite-lived intangible assets - investment advisory agreements65.6 65.6 
Definite-lived intangible assets - investment advisory agreements324.6 447.1 
Total$3,150.1 $3,272.6 
Schedule of Goodwill
Goodwill activity during the years ended December 31, 2023 and 2022, was as follows:

(in millions)20232022
Balance, beginning of the year$2,642.8 $2,693.2 
Measurement period adjustments— (50.4)
Balance, end of the year$2,642.8 $2,642.8 
Schedule of Finite-Lived Intangible Assets
Intangible assets consisted of the following:

(in millions)Remaining weighted-average estimated useful lifeGross carrying amountAccumulated amortization & impairmentsNet carrying amount
December 31, 2023
Definite-lived intangible assets - Investment advisory agreements5.5613.9 (289.3)324.6 
December 31, 2022
Definite-lived intangible assets - Investment advisory agreements6.5613.9 (166.8)447.1 
Schedule of Indefinite-Lived Intangible Assets
Intangible assets consisted of the following:

(in millions)Remaining weighted-average estimated useful lifeGross carrying amountAccumulated amortization & impairmentsNet carrying amount
December 31, 2023
Definite-lived intangible assets - Investment advisory agreements5.5613.9 (289.3)324.6 
December 31, 2022
Definite-lived intangible assets - Investment advisory agreements6.5613.9 (166.8)447.1 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense Estimated amortization expense for the definite-lived investment advisory agreements intangible assets for the five succeeding years is a follows:
(in millions)2023
2024$87.2 
202585.8 
202668.7 
202746.7 
202814.3