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Other Investments | 12 Months Ended
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Dec. 31, 2021
Investments, All Other Investments [Abstract] |
Other Investments | Other Investments Other investments consist of investments in funds advised by the Company’s Affiliates that are carried at NAV as a practical expedient and other investments without readily determinable fair values. Any gain or loss related to these investments is recorded in Investment and other income. Investments Measured at NAV as a Practical Expedient The Company’s Affiliates sponsor funds in which the Company and its consolidated Affiliates may make general partner and seed capital investments. These funds operate in partnership form and apply the specialized fair value accounting for investment companies. The Company accounts for its interests in these funds using the equity method of accounting and is required to retain the specialized accounting of the investment companies. Because the funds’ investments do not have readily determinable fair values, the Company uses the NAV of these investments as a practical expedient for their fair values. The following table summarizes the fair values of these investments and any related unfunded commitments:
|  | December 31, 2020 |  | December 31, 2021
Category of Investment |  | Fair Value |  | Unfunded Commitments |  | Fair Value |  | Unfunded Commitments
Private equity funds(1) |  | $ | 235.4 |  |  | $ | 122.2 |  |  | $ | 310.2 |  |  | $ | 156.3 |
Investments in other strategies(2) |  | 8.0 |  |  | — |  |  | 14.6 |  |  | — |
Total(3) |  | $ | 243.4 |  |  | $ | 122.2 |  |  | $ | 324.8 |  |  | $ | 156.3 |
__________________________ (1)The Company accounts for the majority of its interests in private equity funds one quarter in arrears (adjusted for current period calls and distributions). These funds primarily invest in a broad range of third-party funds and direct investments. Distributions will be received as the underlying assets are liquidated over the life of the funds, which is generally up to 15 years. (2)These are multi-disciplinary funds that invest across various asset classes and strategies, including equity, credit, and real estate. Investments are generally redeemable on a daily, monthly, or quarterly basis. (3)Fair value attributable to the controlling interest was $164.4 million and $224.4 million as of December 31, 2020 and 2021, respectively. Investments Without Readily Determinable Fair Values The Company made an investment in a private corporation where it does not exercise significant influence. Because this investment does not have a readily determinable fair value, the Company has elected to measure this investment at its cost minus impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for identical or similar investments in the private corporation. The following table summarizes the cost, cumulative unrealized gains, and carrying amount of investments without readily determinable fair values:
|  |  |  |  |  | December 31,
|  |  |  |  |  | 2020 |  | 2021
Cost |  |  |  |  |  | $ | 8.5 |  |  | $ | 8.5 |
Cumulative unrealized gains |  |  |  |  |  | 5.3 |  |  | 41.9 |
Carrying amount |  |  |  |  |  | $ | 13.8 |  |  | $ | 50.4 |
During the year ended December 31, 2021, the Company recorded unrealized gains of $36.6 million based on observable price changes in the underlying investment. The following table presents the changes in Other investments:
|  | For the Years Ended December 31,
|  | 2020 |  | 2021
|  | Measured at NAV as a Practical Expedient |  | Without Readily Determinable Fair Values |  | Total |  | Measured at NAV as a Practical Expedient |  | Without Readily Determinable Fair Values |  | Total
Balance, beginning of period |  | $ | 211.8 |  |  | $ | — |  |  | $ | 211.8 |  |  | $ | 243.4 |  |  | $ | 13.8 |  |  | $ | 257.2 |
Net realized and unrealized gains(1) |  | 18.0 |  |  | 5.3 |  |  | 23.3 |  |  | 79.5 |  |  | 36.6 |  |  | 116.1 |
Purchases and commitments |  | 36.3 |  |  | 8.5 |  |  | 44.8 |  |  | 60.3 |  |  | — |  |  | 60.3 |
Sales and distributions |  | (22.7) |  |  | — |  |  | (22.7) |  |  | (58.4) |  |  | — |  |  | (58.4) |
Balance, end of period |  | $ | 243.4 |  |  | $ | 13.8 |  |  | $ | 257.2 |  |  | $ | 324.8 |  |  | $ | 50.4 |  |  | $ | 375.2 |
__________________________ (1)Recognized in Investment and other income.

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 321 -URI http://asc.fasb.org/topic&trid=75115024 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 325 -URI http://asc.fasb.org/topic&trid=2197064 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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