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Investments (Tables) | 3 Months Ended
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Mar. 31, 2025
Investments, Debt and Equity Securities [Abstract] |
Schedule of Equity Method Investments | Investments consist of the following (in thousands):
| March 31, 2025 |  | December 31, 2024
Equity method - performance allocations | $ | 6,195,873 |  |  | $ | 5,958,079 |
Equity method - capital interests (includes assets pledged of $657,356 and $647,448 as of March 31, 2025 and December 31, 2024, respectively) | 1,369,749 |  |  | 1,284,255 |
Loan held for sale | 65,591 |  |  | 47,880 |
Investments held to maturity, at amortized cost (includes assets pledged of $76,485 and $73,485 as of March 31, 2025 and December 31, 2024, respectively) | 82,390 |  |  | 78,941 |
Investments held for sale and other(a) | 179,263 |  |  | 121,995 |
Equity method - other | 13,083 |  |  | 12,003 |
Equity investments | 139 |  |  | 128 |
Total investments | $ | 7,906,088 |  |  | $ | 7,503,281 |
_______________ (a)As of March 31, 2025 and December 31, 2024, investments held for sale and other includes $81.3 million and $78.1 million, respectively, of investments held for sale for which the fair value option has been elected. The following table summarizes net gains (losses) from investment activities (in thousands):
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Net losses of investments held for sale and other | $ | (2,572) |  |  | $ | — |  |  |  |  |
Net losses of equity method investments, fair value option | — |  |  | (5,484) |  |  |  |  |
Net gains (losses) of equity method investments - other | 474 |  |  | (116) |  |  |  |  |
Net gains from equity investments | 11 |  |  | 402 |  |  |  |  |
Total net losses from investment activities | $ | (2,087) |  |  | $ | (5,198) |  |  |  |  |
Schedule of Equity Securities | Investments consist of the following (in thousands):
| March 31, 2025 |  | December 31, 2024
Equity method - performance allocations | $ | 6,195,873 |  |  | $ | 5,958,079 |
Equity method - capital interests (includes assets pledged of $657,356 and $647,448 as of March 31, 2025 and December 31, 2024, respectively) | 1,369,749 |  |  | 1,284,255 |
Loan held for sale | 65,591 |  |  | 47,880 |
Investments held to maturity, at amortized cost (includes assets pledged of $76,485 and $73,485 as of March 31, 2025 and December 31, 2024, respectively) | 82,390 |  |  | 78,941 |
Investments held for sale and other(a) | 179,263 |  |  | 121,995 |
Equity method - other | 13,083 |  |  | 12,003 |
Equity investments | 139 |  |  | 128 |
Total investments | $ | 7,906,088 |  |  | $ | 7,503,281 |
_______________ (a)As of March 31, 2025 and December 31, 2024, investments held for sale and other includes $81.3 million and $78.1 million, respectively, of investments held for sale for which the fair value option has been elected. The following table summarizes net gains (losses) from investment activities (in thousands):
| Three Months Ended March 31, |  |
| 2025 |  | 2024 |  |  |  |
Net losses of investments held for sale and other | $ | (2,572) |  |  | $ | — |  |  |  |  |
Net losses of equity method investments, fair value option | — |  |  | (5,484) |  |  |  |  |
Net gains (losses) of equity method investments - other | 474 |  |  | (116) |  |  |  |  |
Net gains from equity investments | 11 |  |  | 402 |  |  |  |  |
Total net losses from investment activities | $ | (2,087) |  |  | $ | (5,198) |  |  |  |  |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 + Details
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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in net income (trading) and investment in equity security measured at fair value with change in fair value recognized in net income (FV-NI). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B + Details
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