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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2024
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)
2024
$29,590,176
$—
$—
$—
$122,266,110
$—
$—
$—
$19,634,839
$27,674,579
$186
$215
$1,091.1
$1,104.6
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
$41,878,583
$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 2024 consist of Messrs. Redett, Ferguson, and Finn and Ms. LoBue, 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
2024
$29,590,176
$(22,513,410)
$115,189,344
$122,266,110
Average of Non-PEO Named Executive Officers
2024
$19,634,839
$(17,455,600)
$25,495,340
$27,674,579
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 include the fair value of accrued dividend equivalent units as of the applicable date, to the extent applicable. For additional information regarding the determination of fair value, see
Note 2 and Note 14 to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
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
Change in Fair
Value from Prior Year
End to Vesting Date
for 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
2024
$28,832,275
$71,053,502
$—
$15,303,567
$—
$115,189,344
Average of Non-PEO Named Executive Officers
2024
$24,062,819
$1,046,995
$—
$385,526
$—
$25,495,340
        
Non-PEO NEO Average Total Compensation Amount $ 19,634,839 $ 8,516,160 $ 14,108,893 $ 29,363,977 $ 6,925,930
Non-PEO NEO Average Compensation Actually Paid Amount $ 27,674,579 8,242,865 5,716,546 41,878,583 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
2024
$29,590,176
$(22,513,410)
$115,189,344
$122,266,110
Average of Non-PEO Named Executive Officers
2024
$19,634,839
$(17,455,600)
$25,495,340
$27,674,579
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 include the fair value of accrued dividend equivalent units as of the applicable date, to the extent applicable. For additional information regarding the determination of fair value, see
Note 2 and Note 14 to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.
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
Change in Fair
Value from Prior Year
End to Vesting Date
for 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
2024
$28,832,275
$71,053,502
$—
$15,303,567
$—
$115,189,344
Average of Non-PEO Named Executive Officers
2024
$24,062,819
$1,046,995
$—
$385,526
$—
$25,495,340
        
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, 2023, and 2024 and our cumulative 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 TSR and Company TSR v. Peer Group TSR
897
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 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, 2023, and 2024 and our net income performance in 2020, 2021, 2022, 2023, and 2024. 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.
“Compensation Actually Paid” vs. Net Income
1636
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, 2023, and 2024 and the performance of our company-selected measure, fee related earnings, in 2020, 2021,
2022, 2023, and 2024.
“Compensation Actually Paid” vs. FRE
2186
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, 2023, and 2024 and our cumulative 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 TSR and Company TSR v. Peer Group TSR
897
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
Stock Price Performance
Inflows
Fee Related Earnings Margin
Relative TSR Performance
        
Total Shareholder Return Amount $ 186 145 102 181 102
Peer Group Total Shareholder Return Amount 215 156 127 162 115
Net Income (Loss) $ 1,091,100,000 $ (496,700,000) $ 1,284,700,000 $ 3,045,200,000 $ 382,800,000
Company Selected Measure Amount 1,104,600,000 859,400,000 834,400,000 598,100,000 519,700,000
PEO Name Harvey M. Schwartz        
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 Stock Price Performance        
Measure:: 3          
Pay vs Performance Disclosure          
Name Inflows        
Measure:: 4          
Pay vs Performance Disclosure          
Name Fee Related Earnings Margin        
Measure:: 5          
Pay vs Performance Disclosure          
Name Relative TSR Performance        
Harvey M. Schwartz [Member]          
Pay vs Performance Disclosure          
PEO Total Compensation Amount $ 29,590,176 $ 186,994,098      
PEO Actually Paid Compensation Amount 122,266,110 236,419,177      
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] | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (22,513,410)        
PEO | Harvey M. Schwartz [Member] | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 115,189,344        
PEO | Harvey M. Schwartz [Member] | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 28,832,275        
PEO | Harvey M. Schwartz [Member] | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 71,053,502        
PEO | Harvey M. Schwartz [Member] | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
PEO | Harvey M. Schwartz [Member] | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 15,303,567        
PEO | Harvey M. Schwartz [Member] | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (17,455,600)        
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 25,495,340        
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 24,062,819        
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,046,995        
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0        
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 385,526        
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0