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Segment Operating Results (Tables)

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Information Regarding Operations By Segment

The following information presents each segment’s contribution.

	For the Three Months Ended June 30,								For the Six Months Ended June 30,
	2014				2013				2014				2013
Investment Banking
Net Revenues (1)	$	191,323			$	182,605			$	319,174			$	314,201
Operating Expenses	148,751				138,389				254,283				243,455
Other Expenses (2)	4,237				9,456				7,451				19,311
Operating Income	38,335				34,760				57,440				51,435
Income from Equity Method Investments	813				290				503				460
Pre-Tax Income from Continuing Operations	$	39,148			$	35,050			$	57,943			$	51,895
Identifiable Segment Assets	$	671,290			$	562,690			$	671,290			$	562,690
Investment Management
Net Revenues (1)	$	26,373			$	24,192			$	47,635			$	45,227
Operating Expenses	21,591				20,175				41,162				40,885
Other Expenses (2)	82				596				164				1,346
Operating Income	4,700				3,421				6,309				2,996
Income from Equity Method Investments	1,225				725				1,776				1,311
Pre-Tax Income from Continuing Operations	$	5,925			$	4,146			$	8,085			$	4,307
Identifiable Segment Assets	$	476,607			$	470,273			$	476,607			$	470,273
Total
Net Revenues (1)	$	217,696			$	206,797			$	366,809			$	359,428
Operating Expenses	170,342				158,564				295,445				284,340
Other Expenses (2)	4,319				10,052				7,615				20,657
Operating Income	43,035				38,181				63,749				54,431
Income from Equity Method Investments	2,038				1,015				2,279				1,771
Pre-Tax Income from Continuing Operations	$	45,073			$	39,196			$	66,028			$	56,202
Identifiable Segment Assets	$	1,147,897			$	1,032,963			$	1,147,897			$	1,032,963

(1) Net revenues include Other Revenue, net, allocated to the segments as follows:

	For the Three Months Ended June 30,								For the Six Months Ended June 30,
	2014				2013				2014				2013
Investment Banking (A)	$	(928	)		$	(849	)		$	(1,581	)		$	(636	)
Investment Management (B)	(428		)		(897		)		(1,081		)		(1,299		)
Total Other Revenue, net	$	(1,356	)		$	(1,746	)		$	(2,662	)		$	(1,935	)

(A) Investment Banking Other Revenue, net, includes interest expense on the Senior Notes of $1,105 and $2,210 for the three and six months ended June 30, 2014, respectively, and $1,095 and $2,183 for the three and six months ended June 30, 2013, respectively.

(B) Investment Management Other Revenue, net, includes interest expense on the Senior Notes of $932 and $1,864 for the three and six months ended June 30, 2014, respectively, and $924 and $1,843 for the three and six months ended June 30, 2013, respectively.

(2) Other Expenses are as follows:

	For the Three Months Ended June 30,								For the Six Months Ended June 30,
	2014				2013				2014				2013
Investment Banking
Amortization of LP Units and Certain Other Awards	$	—			$	4,300			$	—			$	9,209
Acquisition Related Compensation Charges	2,565				5,156				5,779				10,102
Professional Fees	1,672				—				1,672				—
Total Investment Banking	4,237				9,456				7,451				19,311
Investment Management
Amortization of LP Units and Certain Other Awards	—				514				—				1,182
Intangible Asset Amortization	82				82				164				164
Total Investment Management	82				596				164				1,346
Total Other Expenses	$	4,319			$	10,052			$	7,615			$	20,657

Revenues Derived from Clients and Private Equity Funds by Geographical Areas

The Company’s revenues were derived from clients and private equity funds located and managed in the following geographical areas:

	For the Three Months Ended June 30,								For the Six Months Ended June 30,
	2014				2013				2014				2013
Net Revenues: (1)
United States	$	142,502			$	157,595			$	250,429			$	248,451
Europe and Other	47,997				35,497				84,785				74,866
Latin America	28,553				15,451				34,257				38,046
Total	$	219,052			$	208,543			$	369,471			$	361,363

(1) Excludes Other Revenue and Interest Expense.

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