Intangible Assets and Goodwill (Tables)

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Finite-Lived Intangible Assets

The following table summarizes the carrying values of intangible assets as of March 31, 2025 and December 31, 2024 (in thousands):



	March 31, 2025						December 31, 2024
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Contractual performance fee allocations	$	313,000	$	(104,443)	$	208,557	$	313,000	$	(92,718)	$	220,282
Management contracts	302,000		(63,307)		238,693		302,000		(53,680)		248,320
Technology	46,000		(16,292)		29,708		46,000		(13,417)		32,583
Investor relationships	25,000		(7,813)		17,187		25,000		(7,292)		17,708
Trade name	15,500		(3,992)		11,508		15,500		(3,288)		12,212
Other intangible assets(a)	8,494		(7,066)		1,428		8,494		(5,892)		2,602
Total intangible assets, net	$	709,994	$	(202,913)	$	507,081	$	709,994	$	(176,287)	$	533,707

_______________

(a)Includes indefinite-lived intangible assets of $1.0 million as of March 31, 2025 and December 31, 2024.

Schedule of Indefinite-Lived Intangible Assets

The following table summarizes the carrying values of intangible assets as of March 31, 2025 and December 31, 2024 (in thousands):



	March 31, 2025						December 31, 2024
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Contractual performance fee allocations	$	313,000	$	(104,443)	$	208,557	$	313,000	$	(92,718)	$	220,282
Management contracts	302,000		(63,307)		238,693		302,000		(53,680)		248,320
Technology	46,000		(16,292)		29,708		46,000		(13,417)		32,583
Investor relationships	25,000		(7,813)		17,187		25,000		(7,292)		17,708
Trade name	15,500		(3,992)		11,508		15,500		(3,288)		12,212
Other intangible assets(a)	8,494		(7,066)		1,428		8,494		(5,892)		2,602
Total intangible assets, net	$	709,994	$	(202,913)	$	507,081	$	709,994	$	(176,287)	$	533,707

_______________

(a)Includes indefinite-lived intangible assets of $1.0 million as of March 31, 2025 and December 31, 2024.

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table presents estimated remaining amortization expense for finite-lived intangible assets that existed as of March 31, 2025 (in thousands):


Remainder of 2025	$	74,893
2026	98,089
2027	96,149
2028	75,304
2029	49,699
Thereafter	111,953
Total	$	506,087