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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 2,221.7 $ 1,266.0
Cash and cash equivalents held at Consolidated Funds 1,037.3 830.4
Investments, including accrued performance allocations of $6,956.3 and $7,053.5 as of September 30, 2025 and December 31, 2024, respectively 10,515.4 10,936.7
Investments of Consolidated Funds 11,083.3 7,782.4
Due from affiliates and other receivables, net 741.2 805.6
Due from affiliates and other receivables of Consolidated Funds, net 259.4 237.1
Fixed assets, net 199.1 185.3
Lease right-of-use assets, net 340.6 341.4
Deposits and other 89.6 56.9
Intangible assets, net 540.0 634.1
Deferred tax assets 28.3 27.6
Total assets 27,055.9 23,103.5
Liabilities and equity    
Debt obligations 2,984.2 2,143.5
Loans payable of Consolidated Funds 9,199.5 6,864.2
Accounts payable, accrued expenses and other liabilities 433.8 389.8
Accrued compensation and benefits 5,288.4 5,446.6
Due to affiliates 214.8 241.9
Deferred revenue 373.0 138.7
Deferred tax liabilities 80.7 137.0
Other liabilities of Consolidated Funds 1,112.2 861.6
Lease liabilities 479.6 488.6
Accrued giveback obligations 44.6 44.0
Total liabilities 20,210.8 16,755.9
Commitments and contingencies
Common stock, $0.01 par value, 100,000,000,000 shares authorized (360,136,508 and 357,183,632 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively) 3.6 3.6
Additional paid-in-capital 4,194.7 3,892.3
Retained earnings 1,617.8 2,040.8
Accumulated other comprehensive loss (196.5) (329.8)
Non-controlling interests in consolidated entities 1,225.5 740.7
Total equity 6,845.1 6,347.6
Total liabilities and equity $ 27,055.9 $ 23,103.5