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Equity Method Investments
 9 Months Ended
Sep. 30, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Equity Method Investments
LSV Asset Management
The Company has an investment in LSV Asset Management (LSV), a registered investment advisor that provides investment advisory services primarily to institutions, including pension plans and investment companies. LSV is currently an investment sub-advisor for a limited number of SEI-sponsored investment products. The Company's partnership interest in LSV as of September 30, 2025 was 38.5%. The Company’s interest in the net assets of LSV is included in Investments on the accompanying Consolidated Balance Sheets and its interest in the earnings of LSV is reflected in Equity in earnings of unconsolidated affiliate on the accompanying Consolidated Statements of Operations.
At September 30, 2025 and December 31, 2024, the Company’s total investment in LSV was $52,083 and $114,299, respectively. The Company's investment includes advances provided to LSV related to their working capital accounts. The Company receives partnership distributions from LSV on a quarterly basis. The Company received partnership distributions from LSV of $104,768 and $112,476 in the nine months ended September 30, 2025 and 2024, respectively. As such, the Company considers these distribution payments as returns on investment rather than returns of the Company's original investment in LSV and has therefore classified the associated cash inflows as an operating activity on the Consolidated Statements of Cash Flows.
The Company’s proportionate share in the earnings of LSV was $31,903 and $36,513 during the three months ended September 30, 2025 and 2024, respectively. During the nine months ended September 30, 2025 and 2024, the Company’s proportionate share in the earnings of LSV was $94,290 and $102,375, respectively.
These tables contain condensed financial information of LSV:
Condensed Statement of OperationsThree Months Ended September 30,Nine Months Ended September 30,
 2025202420252024
Revenues$111,750 $122,412 $325,894 $343,581 
Net income82,812 94,634 244,639 265,335 
Condensed Balance SheetsSeptember 30, 2025December 31, 2024
Current assets$160,209 $170,055 
Non-current assets4,376 5,313 
Total assets$164,585 $175,368 
Current liabilities$99,246 $82,356 
Non-current liabilities4,881 5,382 
Partners’ capital60,458 87,630 
Total liabilities and partners’ capital$164,585 $175,368 
On April 1, 2025, LSV provided an interest in the partnership to select key employees which reduced the ownership percentage of each existing partner on a pro-rata basis. As a result, the Company's total partnership interest in LSV was reduced slightly to approximately 38.5% from approximately 38.6%.
Other Equity Method Investments
The Company's other equity method investment consist of an investment in a non-affiliated limited partnership fund in which the Company holds a more than minor interest. At September 30, 2025 and December 31, 2024, the Company’s total investment in the limited partnership fund was $9,080 and $9,483, respectively, and is included in Investments on the accompanying Consolidated Balance Sheets (See Note 5).
The Company recognized unrealized gains of $71 during the three months ended September 30, 2025 from the change in fair value of the investment. The Company recognized unrealized gains of $294 during the nine months ended September 30, 2025 from the change in fair value of the investment. Unrealized gains and losses from the change in fair value of the investment are recognized in Net gain from investments on the accompanying Consolidated Statements of Operations.