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Related Party Transactions | 12 Months Ended
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Dec. 31, 2018
Related Party Transactions [Abstract] |
Related Party Transactions | Related Party Transactions A prior owner of one of the Company’s consolidated Affiliates retained an interest in certain of the Affiliate’s private equity investment partnerships. The prior owner’s interests are presented in Other liabilities and were $61.2 million and $49.7 million at December 31, 2017 and 2018, respectively. The Company and its Affiliates earn asset and performance based fees and incur distribution and other expenses for services provided to Affiliate sponsored investment products. In addition, Affiliate management owners and Company officers may serve as trustees or directors of certain investment vehicles from which an Affiliate earns fees. The Company had liabilities to related parties for contingent payment arrangements in connection with certain business combinations. The net present value of the total amounts payable were $9.4 million and $1.9 million as of December 31, 2017 and 2018, respectively, and were included in Other liabilities. For the years ended December 31, 2017 and 2018, the Company made $6.8 million and $8.8 million of payments associated with these liabilities, respectively. For the years ended December 31, 2017 and 2018, the Company adjusted its estimates of contingent payment arrangements and recorded expenses of $6.6 million and $0.6 million, respectively. These amounts are included in Other expenses (net). The Company has related party transactions in association with its Affiliate equity transactions, as more fully described in Notes 19 and 20.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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