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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Summary Compensation Table Total for:
Compensation Actually Paid to:
Average
Summary
Compensation
Table Total for
Non-PEO
Named
Executive
Officers(1),(2)
Average
Compensation
Actually Paid to
Non-PEO
Named
Executive
Officers(1),(2)
Value of Initial Fixed $100
Investment Based on:
Net Income
(in millions)
Fee Related
Earnings (FRE)
(in millions)(4)
Year
Harvey M.
Schwartz
William E.
Conway, Jr.
Kewsong
Lee
Glenn A.
Youngkin
Harvey M.
Schwartz(2)
William E.
Conway,
Jr.(2)
Kewsong
Lee(2)
Glenn A.
Youngkin(2)
Total
Shareholder
Return
Peer Group
Total
Shareholder
Return(3)
2023
$186,994,098
$500,000
$—
$—
$236,419,177
$500,000
$—
$—
$8,516,160
$8,242,865
$145
$156
$(496.7)
$859.4
2022
$—
$500,000
$40,775,405
$—
$—
$500,000
$(61,692,601)
$—
$14,108,893
$5,716,546
$102
$127
$1,284.7
$834.4
2021
$—
$—
$42,322,501
$—
$—
$—
$123,088,136
$—
$29,363,977
$41,878,582
$181
$162
$3,045.2
$598.1
2020
$—
$—
$16,384,203
$12,064,228
$—
$—
$20,465,591
$(31,426,807)
$6,925,930
$7,628,276
$102
$115
$382.8
$519.7
      
Company Selected Measure Name Fee Related Earnings      
Named Executive Officers, Footnote The non-PEO named executive officers in 2023 consist of Messrs. Redett, Finn, Ferguson, Larson, and Buser, in 2022 and 2021 consist of Messrs. Buser, Clare, Finn, and Larson, and in 2020 consists of Messrs. Buser, Clare,
Ferguson, and Finn (as applicable, the “Non-PEO NEOs”).
      
Peer Group Issuers, Footnote The Peer Group for these purposes is the Dow Jones U.S. Asset Manager Index.      
Adjustment To PEO Compensation, Footnote To calculate the “compensation actually paid,” the following amounts were deducted from and added to the applicable “Summary Compensation Table Total” set forth above:
Summary
Compensation Total
Deductions of
Reported Equity
Values from Summary
Compensation Total(a)
Equity Award
Adjustments to Summary
Compensation Total(b)
“Compensation
Actually Paid”
Harvey M. Schwartz
2023
$186,994,098
$(179,981,039)
$229,406,118
$236,419,177
William E. Conway, Jr.
2023
$500,000
$—
$—
$500,000
2022
$500,000
$—
$—
$500,000
Kewsong Lee
2022
$40,775,405
$(36,695,033)
$(65,772,973)
$(61,692,601)
2021
$42,322,501
$(36,110,256)
$116,875,891
$123,088,136
2020
$16,384,203
$(10,274,286)
$14,355,674
$20,465,591
Glenn Youngkin
2020
$12,064,228
$(10,682,574)
$(32,808,461)
$(31,426,807)
Average of Non-PEO Named Executive Officers
2023
$8,516,160
$(5,829,616)
$5,556,321
$8,242,865
2022
$14,108,893
$(2,331,523)
$(6,060,824)
$5,716,546
2021
$29,363,977
$(11,208,915)
$23,723,520
$41,878,582
2020
$6,925,930
$(2,407,846)
$3,110,192
$7,628,276
Reflects adjustments to the value of Stock Awards, as calculated in accordance with the rules prescribed under Item 402(v) and in accordance with ASC Topic 718, which included the categories of adjustments for each year
as set forth below. The values shown below for Mr. Schwartz include the fair value of accrued dividend equivalent units as of the applicable date. For additional information regarding the determination of fair value, see Note 2
and Note 15 to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
Year End Fair
Value of Awards
Granted During
Year that
Remained
Outstanding and
Unvested at
Year End
Year Over Year Change
in Fair Value of
Outstanding and
Unvested Equity
Awards Granted in a
Prior Year that
Remained Outstanding
and Unvested at
Year End
Fair Value as of
Vesting Date of
Equity Awards
Granted and Vested
in Same Year
Year Over Year
Change in Fair
Value of Equity
Awards Granted in
a Prior Year
that Vested in
the Year
Fair Value at the
End of the Prior
Year of Equity
Awards that
Failed to Meet
Vesting Conditions
During Year
Total Equity Award
Adjustments
Harvey M. Schwartz
2023
$207,208,994
$—
$22,197,124
$—
$—
$229,406,118
Kewsong Lee
2022
$4,536,963
$(23,277,375)
$274,175
$(4,205,426)
$(43,101,310)
$(65,772,973)
2021
$74,781,989
$39,770,125
$—
$2,323,777
$—
$116,875,891
2020
$10,586,204
$3,208,442
$—
$561,028
$—
$14,355,674
Glenn Youngkin
2020
$—
$—
$—
$594,447
$(33,402,908)
$(32,808,461)
Average of Non-PEO Named Executive Officers
2023
$4,700,504
$980,957
$—
$895,906
$(1,021,046)
$5,556,321
2022
$1,127,829
$(5,797,829)
$—
$(1,390,824)
$—
$(6,060,824)
2021
$20,872,266
$1,624,028
$—
$1,227,226
$—
$23,723,520
2020
$2,579,729
$458,910
$—
$71,554
$—
$3,110,192
      
Non-PEO NEO Average Total Compensation Amount $ 8,516,160 $ 14,108,893 $ 29,363,977 $ 6,925,930
Non-PEO NEO Average Compensation Actually Paid Amount $ 8,242,865 5,716,546 41,878,582 7,628,276
Adjustment to Non-PEO NEO Compensation Footnote To calculate the “compensation actually paid,” the following amounts were deducted from and added to the applicable “Summary Compensation Table Total” set forth above:
Summary
Compensation Total
Deductions of
Reported Equity
Values from Summary
Compensation Total(a)
Equity Award
Adjustments to Summary
Compensation Total(b)
“Compensation
Actually Paid”
Harvey M. Schwartz
2023
$186,994,098
$(179,981,039)
$229,406,118
$236,419,177
William E. Conway, Jr.
2023
$500,000
$—
$—
$500,000
2022
$500,000
$—
$—
$500,000
Kewsong Lee
2022
$40,775,405
$(36,695,033)
$(65,772,973)
$(61,692,601)
2021
$42,322,501
$(36,110,256)
$116,875,891
$123,088,136
2020
$16,384,203
$(10,274,286)
$14,355,674
$20,465,591
Glenn Youngkin
2020
$12,064,228
$(10,682,574)
$(32,808,461)
$(31,426,807)
Average of Non-PEO Named Executive Officers
2023
$8,516,160
$(5,829,616)
$5,556,321
$8,242,865
2022
$14,108,893
$(2,331,523)
$(6,060,824)
$5,716,546
2021
$29,363,977
$(11,208,915)
$23,723,520
$41,878,582
2020
$6,925,930
$(2,407,846)
$3,110,192
$7,628,276
Reflects adjustments to the value of Stock Awards, as calculated in accordance with the rules prescribed under Item 402(v) and in accordance with ASC Topic 718, which included the categories of adjustments for each year
as set forth below. The values shown below for Mr. Schwartz include the fair value of accrued dividend equivalent units as of the applicable date. For additional information regarding the determination of fair value, see Note 2
and Note 15 to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023.
Year End Fair
Value of Awards
Granted During
Year that
Remained
Outstanding and
Unvested at
Year End
Year Over Year Change
in Fair Value of
Outstanding and
Unvested Equity
Awards Granted in a
Prior Year that
Remained Outstanding
and Unvested at
Year End
Fair Value as of
Vesting Date of
Equity Awards
Granted and Vested
in Same Year
Year Over Year
Change in Fair
Value of Equity
Awards Granted in
a Prior Year
that Vested in
the Year
Fair Value at the
End of the Prior
Year of Equity
Awards that
Failed to Meet
Vesting Conditions
During Year
Total Equity Award
Adjustments
Harvey M. Schwartz
2023
$207,208,994
$—
$22,197,124
$—
$—
$229,406,118
Kewsong Lee
2022
$4,536,963
$(23,277,375)
$274,175
$(4,205,426)
$(43,101,310)
$(65,772,973)
2021
$74,781,989
$39,770,125
$—
$2,323,777
$—
$116,875,891
2020
$10,586,204
$3,208,442
$—
$561,028
$—
$14,355,674
Glenn Youngkin
2020
$—
$—
$—
$594,447
$(33,402,908)
$(32,808,461)
Average of Non-PEO Named Executive Officers
2023
$4,700,504
$980,957
$—
$895,906
$(1,021,046)
$5,556,321
2022
$1,127,829
$(5,797,829)
$—
$(1,390,824)
$—
$(6,060,824)
2021
$20,872,266
$1,624,028
$—
$1,227,226
$—
$23,723,520
2020
$2,579,729
$458,910
$—
$71,554
$—
$3,110,192
      
Compensation Actually Paid vs. Total Shareholder Return The following graph shows the relationship between the “compensation actually paid” to each of Messrs. Schwartz, Conway,
Lee, and Youngkin and the average of the “compensation actually paid” to our Non-PEO NEOs (in each case, with
“compensation actually paid” calculated as set forth above in accordance with the rules prescribed under Item 402(v) of
Regulation S-K) in 2020, 2021, 2022, and 2023 and our cumulative total shareholder return (“TSR”) measured starting from
December 31, 2019 for each covered fiscal year. This graph also shows the relationship between our TSR performance and
the TSR performance of the Peer Group in the Pay Versus Performance Table (which is the Dow Jones U.S. Asset Manager
Index) over the same period.
“Compensation Actually Paid” vs. Company Total Shareholder Return (“TSR”) and Company TSR v. Peer Group TSR
2748779071795
n
Harvey M. Schwartz
n
Kewsong Lee
n
Glenn A. Youngkin
n
William E. Conway, Jr.
n
Non-PEO NEOs
icon_company TSR.jpg
Company TSR
icon_legend_icon_legend_peergroup.jpg
Peer Group TSR
      
Compensation Actually Paid vs. Net Income The following graph show the relationship between the “compensation actually paid” to each of Messrs. Schwartz, Conway,
Lee, and Youngkin and the average of the “compensation actually paid” to our non-PEO NEOs (in each case, with
“compensation actually paid” calculated as set forth above in accordance with the rules prescribed under Item 402(v)) in 2020,
2021, 2022, and 2023 and our net income performance in 2020, 2021, 2022, and 2023. The 2023 net income figure includes a
$1.1 billion charge to performance allocations and incentive fee related compensation expense as part of our updated
compensation program. See “Compensation Discussion and Analysis—Enhanced Stakeholder Alignment.”
“Compensation Actually Paid” vs. Net Income
2748779072237
n
Harvey M. Schwartz
n
Kewsong Lee
n
Glenn A. Youngkin
n
William E. Conway, Jr.
n
Non-PEO NEOs
icon_legend_icon_legend_peergroup.jpg
Net Income
      
Compensation Actually Paid vs. Company Selected Measure The following graph shows the relationship between the “compensation actually paid” to each of Messrs. Schwartz, Conway,
Lee, and Youngkin and the average of the “compensation actually paid” to our non-PEO NEOs (in each case, with
“compensation actually paid” calculated as set forth above in accordance with the rules prescribed under Item 402(v)) in 2020,
2021, 2022, and 2023 and the performance of our company-selected measure, fee related earnings, in 2020, 2021, 2022,
and 2023.
“Compensation Actually Paid” vs. Fee Related Earnings (“FRE”)
2748779072379
n
Harvey M. Schwartz
n
Kewsong Lee
n
Glenn A. Youngkin
n
William E. Conway, Jr.
n
Non-PEO NEOs
icon_legend_icon_legend_peergroup.jpg
FRE
      
Total Shareholder Return Vs Peer Group The following graph shows the relationship between the “compensation actually paid” to each of Messrs. Schwartz, Conway,
Lee, and Youngkin and the average of the “compensation actually paid” to our Non-PEO NEOs (in each case, with
“compensation actually paid” calculated as set forth above in accordance with the rules prescribed under Item 402(v) of
Regulation S-K) in 2020, 2021, 2022, and 2023 and our cumulative total shareholder return (“TSR”) measured starting from
December 31, 2019 for each covered fiscal year. This graph also shows the relationship between our TSR performance and
the TSR performance of the Peer Group in the Pay Versus Performance Table (which is the Dow Jones U.S. Asset Manager
Index) over the same period.
“Compensation Actually Paid” vs. Company Total Shareholder Return (“TSR”) and Company TSR v. Peer Group TSR
2748779071795
n
Harvey M. Schwartz
n
Kewsong Lee
n
Glenn A. Youngkin
n
William E. Conway, Jr.
n
Non-PEO NEOs
icon_company TSR.jpg
Company TSR
icon_legend_icon_legend_peergroup.jpg
Peer Group TSR
      
Tabular List, Table
Fee Related Earnings
Realized Net Performance Revenues
Fee-Earning Assets Under Management Raised (Fee-Earning Fundraising)
Stock Price Performance
Relative TSR Performance
      
Total Shareholder Return Amount $ 145 102 181 102
Peer Group Total Shareholder Return Amount 156 127 162 115
Net Income (Loss) $ (496,700,000) $ 1,284,700,000 $ 3,045,200,000 $ 382,800,000
Company Selected Measure Amount 859,400,000 834,400,000 598,100,000 519,700,000
Additional 402(v) Disclosure Represents the grant date fair value of equity-based awards granted in each year, as reflected in the “Stock Awards” column.      
Measure:: 1        
Pay vs Performance Disclosure        
Name Fee Related Earnings      
Non-GAAP Measure Description Our company-selected measure is Fee Related Earnings (“FRE”). FRE is described under “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Key Financial Measures—Non-GAAP
Financial Measures—Fee Related Earnings” in our Annual Report on Form 10-K. For a reconciliation of non-GAAP measures to the corresponding GAAP measures, please see Appendix A: Reconciliation of
Non-GAAP Measures.
      
Measure:: 2        
Pay vs Performance Disclosure        
Name Realized Net Performance Revenues      
Measure:: 3        
Pay vs Performance Disclosure        
Name Fee-Earning Assets Under Management Raised (Fee-Earning Fundraising)      
Measure:: 4        
Pay vs Performance Disclosure        
Name Stock Price Performance      
Measure:: 5        
Pay vs Performance Disclosure        
Name Relative TSR Performance      
Harvey M. Schwartz [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 186,994,098      
PEO Actually Paid Compensation Amount 236,419,177      
William E Conway, Jr. [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount 500,000 $ 500,000    
PEO Actually Paid Compensation Amount 500,000 500,000    
Kewsong Lee [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount   40,775,405 $ 42,322,501 $ 16,384,203
PEO Actually Paid Compensation Amount   (61,692,601) 123,088,136 20,465,591
Glenn A. Youngkin [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount       12,064,228
PEO Actually Paid Compensation Amount       (31,426,807)
PEO | Harvey M. Schwartz [Member] | Deductions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (179,981,039)      
PEO | Harvey M. Schwartz [Member] | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 229,406,118      
PEO | Harvey M. Schwartz [Member] | Equity Awards Granted During The Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards 207,208,994      
PEO | Harvey M. Schwartz [Member] | Equity Awards Granted In Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards 0      
PEO | Harvey M. Schwartz [Member] | Equity Awards Granted During The Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards 22,197,124      
PEO | Harvey M. Schwartz [Member] | Equity Awards Granted In Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards 0      
PEO | Harvey M. Schwartz [Member] | Equity Awards That Failed To Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards 0      
PEO | William E Conway, Jr. [Member] | Deductions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0    
PEO | William E Conway, Jr. [Member] | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 0 0    
PEO | Kewsong Lee [Member] | Deductions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (36,695,033) (36,110,256) (10,274,286)
PEO | Kewsong Lee [Member] | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (65,772,973) 116,875,891 14,355,674
PEO | Kewsong Lee [Member] | Equity Awards Granted During The Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards   4,536,963 74,781,989 10,586,204
PEO | Kewsong Lee [Member] | Equity Awards Granted In Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards   (23,277,375) 39,770,125 3,208,442
PEO | Kewsong Lee [Member] | Equity Awards Granted During The Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards   274,175 0 0
PEO | Kewsong Lee [Member] | Equity Awards Granted In Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards   (4,205,426) 2,323,777 561,028
PEO | Kewsong Lee [Member] | Equity Awards That Failed To Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards   (43,101,310) 0 0
PEO | Glenn A. Youngkin [Member] | Deductions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount       (10,682,574)
PEO | Glenn A. Youngkin [Member] | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount       (32,808,461)
PEO | Glenn A. Youngkin [Member] | Equity Awards Granted During The Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards       0
PEO | Glenn A. Youngkin [Member] | Equity Awards Granted In Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards       0
PEO | Glenn A. Youngkin [Member] | Equity Awards Granted During The Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards       0
PEO | Glenn A. Youngkin [Member] | Equity Awards Granted In Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards       594,447
PEO | Glenn A. Youngkin [Member] | Equity Awards That Failed To Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards       (33,402,908)
Non-PEO NEO | Deductions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (5,829,616) (2,331,523) (11,208,915) (2,407,846)
Non-PEO NEO | Equity Award Adjustments [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 5,556,321 (6,060,824) 23,723,520 3,110,192
Non-PEO NEO | Equity Awards Granted During The Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards 4,700,504 1,127,829 20,872,266 2,579,729
Non-PEO NEO | Equity Awards Granted In Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards 980,957 (5,797,829) 1,624,028 458,910
Non-PEO NEO | Equity Awards Granted During The Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards 0 0 0 0
Non-PEO NEO | Equity Awards Granted In Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards 895,906 (1,390,824) 1,227,226 71,554
Non-PEO NEO | Equity Awards That Failed To Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment To Compensation Amount, Equity Awards $ (1,021,046) $ 0 $ 0 $ 0