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Borrowings (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Instrument [Line Items]  
Schedule of Debt Obligations The Company’s debt obligations consist of the following:
 June 30, 2023December 31, 2022
 Borrowing
Outstanding		Carrying
Value		Borrowing
Outstanding		Carrying
Value
(Dollars in millions)
CLO Borrowings (See below)
$423.4 $419.9 $421.7 $418.1 
3.500% Senior Notes Due 9/19/2029
425.0 422.2 425.0 422.0 
5.625% Senior Notes Due 3/30/2043
600.0 600.6 600.0 600.6 
5.650% Senior Notes Due 9/15/2048
350.0 346.4 350.0 346.3 
4.625% Subordinated Notes Due 5/15/2061
500.0 484.9 500.0 484.7 
Total debt obligations$2,298.4 $2,274.0 $2,296.7 $2,271.7 
Schedule of Loans Payable of Consolidated Funds As of June 30, 2023 and December 31, 2022, the following borrowings were outstanding, which includes preferred shares classified as liabilities (Dollars in millions):
 As of June 30, 2023
 Borrowing
Outstanding		Fair ValueWeighted
Average
Interest Rate		 Weighted
Average
Remaining
Maturity in
Years
Senior secured notes$6,339.5 $6,153.4 5.74 %9.46
Subordinated notes(1)
235.2 230.5 N/A(3)9.65
Total$6,574.7 $6,383.9 
 
 As of December 31, 2022
 Borrowing
Outstanding		Fair ValueWeighted
Average
Interest Rate		 Weighted
Average
Remaining
Maturity in
Years
Senior secured notes(2)
$5,849.2 $5,303.3 3.97 %9.48
Subordinated notes(1)
234.0 188.3 N/A(3)9.69
Total$6,083.2 $5,491.6 
 
(1)Borrowing Outstanding as of June 30, 2023 and December 31, 2022 includes $115.7 million and $178.0 million, respectively, of revolving credit balances that are carried at amortized cost.
(2)Borrowing Outstanding as of December 31, 2022 includes $235.6 million of senior secured notes that are carried at par value. The fair value of these senior secured notes at December 31, 2022, approximated par value based on current market rates for similar debt instruments. These senior secured notes are classified as Level III within the fair value hierarchy.
(3)The subordinated notes do not have contractual interest rates, but instead receive distributions from the excess cash flows of the CLOs.
CLO Borrowings  
Debt Instrument [Line Items]  
Schedule of Debt Obligations The Company’s outstanding CLO borrowings consist of the following (Dollars in millions):
Formation DateBorrowing Outstanding June 30, 2023Borrowing Outstanding December 31, 2022Maturity Date (1)Interest Rate as of June 30, 2023
February 28, 2017$39.4 $38.7 November 17, 20315.55%(2)
June 29, 201752.3 54.8 July 20, 20306.48%(4)
December 6, 201743.2 43.8 January 15, 20316.63%(5)
March 15, 20191.8 1.8 March 15, 203211.63%(3)
August 20, 20193.9 3.9 August 15, 20328.06%(3)
September 15, 202019.4 19.1 April 15, 20334.76%(3)
January 8, 202120.3 19.9 January 15, 20345.67%(3)
March 9, 202118.1 19.1 August 15, 20304.71%(3)
March 30, 202118.3 18.0 March 15, 20325.23%(3)
April 21, 20213.5 3.4 April 15, 20339.03%(3)
May 21, 202115.3 15.0 November 17, 20314.69%(3)
June 4, 202120.4 20.0 January 16, 20345.46%(3)
June 10, 20211.3 1.3 November 17, 20316.17%(3)
July 15, 202115.3 15.0 July 15, 20345.47%(3)
July 20, 202120.4 20.0 July 20, 20315.48%(3)
August 4, 202116.5 16.2 August 15, 20325.07%(3)
October 27, 202123.7 23.3 October 15, 20355.58%(3)
November 5, 202114.1 13.8 January 14, 20345.26%(3)
January 6, 202220.5 20.1 February 15, 20355.70%(3)
February 22, 202220.5 20.1 November 10, 20355.73%(3)
July 13, 202217.3 16.9 January 13, 20356.43%(3)
October 25, 202217.9 17.5 October 25, 20357.03%(3)
$423.4 $421.7 

(1)    Maturity date is earlier of date indicated or the date that the CLO is dissolved.
(2)     Outstanding borrowing of €36.1 million; incurs interest at EURIBOR plus applicable margins as defined in the agreement.
(3)    Incurs interest at the average effective interest rate of each class of purchased securities plus 0.50% spread percentage.
(4)    Incurs interest at LIBOR plus 1.23%.
(5)    Incurs interest at LIBOR plus 1.37%.
Senior Notes  
Debt Instrument [Line Items]  
Schedule of Debt Obligations
Senior Notes
Certain indirect subsidiaries of the Company have issued long term borrowings in the form of senior notes, on which interest is payable semi-annually in arrears. The following table provides information regarding these senior notes (Dollars in millions):
Interest Expense
Fair Value (1)
As of
Three Months Ended
June 30,		Six Months Ended
June 30,
Aggregate Principal AmountJune 30, 2023December 31, 20222023202220232022
3.500% Senior Notes Due 9/19/2029 (2)
$425.0 $378.6 $364.1 $3.9 $3.8 $7.7 $7.6 
5.625% Senior Notes Due 3/30/2043 (3)
600.0 540.7 545.8 8.5 8.4 16.9 16.9 
5.650% Senior Notes Due 9/15/2048 (4)
350.0 318.9 322.2 5.0 5.0 10.0 9.9 
$17.4 $17.2 $34.6 $34.4 
(1) Including accrued interest. Fair value is based on indicative quotes and the notes are classified as Level II within the fair value hierarchy.
(2) Issued in September 2019 at 99.841% of par.
(3) Issued $400.0 million in aggregate principal at 99.583% of par in March 2013. An additional $200.0 million in aggregate principal was issued at 104.315% of par in March 2014, and is treated as a single class with the outstanding $400.0 million in senior notes previously issued.
(4) Issued in September 2018 at 99.914% of par.