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Intangible Assets and Goodwill (Tables) | 6 Months Ended
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Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract] |
Intangible Asset, Finite-Lived | The following table summarizes the carrying values of intangible assets as of June 30, 2026 and December 31, 2025 (in thousands):
| June 30, 2026 |  | December 31, 2025
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Contractual performance fee allocations(a) | $ | 378,200 |  |  | $ | (173,936) |  |  | $ | 204,264 |  |  | $ | 378,200 |  |  | $ | (145,052) |  |  | $ | 233,148 |
Management contracts(a) | 468,700 |  |  | (126,496) |  |  | 342,204 |  |  | 468,700 |  |  | (92,216) |  |  | 376,484 |
Technology | 46,000 |  |  | (30,667) |  |  | 15,333 |  |  | 46,000 |  |  | (24,917) |  |  | 21,083 |
Investor relationships | 25,000 |  |  | (10,417) |  |  | 14,583 |  |  | 25,000 |  |  | (9,375) |  |  | 15,625 |
Trade name(a) | 17,500 |  |  | (7,960) |  |  | 9,540 |  |  | 17,500 |  |  | (6,328) |  |  | 11,172 |
Other intangible assets(a), (b) | 2,994 |  |  | (1,333) |  |  | 1,661 |  |  | 2,994 |  |  | (667) |  |  | 2,327 |
Total intangible assets, net | $ | 938,394 |  |  | $ | (350,809) |  |  | $ | 587,585 |  |  | $ | 938,394 |  |  | $ | (278,555) |  |  | $ | 659,839 |
_________________ (a)Includes intangible assets with a net carrying value of $204.5 million as of June 30, 2026 related to the acquisition of Peppertree described in Note 3 to the Condensed Consolidated Financial Statements. (b)Includes indefinite-lived intangible assets of $1.0 million as of June 30, 2026 and December 31, 2025.
Intangible Asset, Indefinite-Lived | The following table summarizes the carrying values of intangible assets as of June 30, 2026 and December 31, 2025 (in thousands):
| June 30, 2026 |  | December 31, 2025
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Contractual performance fee allocations(a) | $ | 378,200 |  |  | $ | (173,936) |  |  | $ | 204,264 |  |  | $ | 378,200 |  |  | $ | (145,052) |  |  | $ | 233,148 |
Management contracts(a) | 468,700 |  |  | (126,496) |  |  | 342,204 |  |  | 468,700 |  |  | (92,216) |  |  | 376,484 |
Technology | 46,000 |  |  | (30,667) |  |  | 15,333 |  |  | 46,000 |  |  | (24,917) |  |  | 21,083 |
Investor relationships | 25,000 |  |  | (10,417) |  |  | 14,583 |  |  | 25,000 |  |  | (9,375) |  |  | 15,625 |
Trade name(a) | 17,500 |  |  | (7,960) |  |  | 9,540 |  |  | 17,500 |  |  | (6,328) |  |  | 11,172 |
Other intangible assets(a), (b) | 2,994 |  |  | (1,333) |  |  | 1,661 |  |  | 2,994 |  |  | (667) |  |  | 2,327 |
Total intangible assets, net | $ | 938,394 |  |  | $ | (350,809) |  |  | $ | 587,585 |  |  | $ | 938,394 |  |  | $ | (278,555) |  |  | $ | 659,839 |
_________________ (a)Includes intangible assets with a net carrying value of $204.5 million as of June 30, 2026 related to the acquisition of Peppertree described in Note 3 to the Condensed Consolidated Financial Statements. (b)Includes indefinite-lived intangible assets of $1.0 million as of June 30, 2026 and December 31, 2025.
Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense | The following table presents estimated remaining amortization expense for finite-lived intangible assets that existed as of June 30, 2026 (in thousands):
Remainder of 2026 |  | $ | 72,254 |
2027 |  | 141,258 |
2028 |  | 120,415 |
2029 |  | 94,810 |
2030 |  | 46,616 |
Thereafter |  | 111,238 |
Total |  | $ | 586,591 |

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