Other Investments (Tables)

6 Months Ended

Jun. 30, 2022

Investments, All Other Investments [Abstract]

Schedule of Other Investments and Unfunded Commitments

The following table summarizes the fair values of these investments and any related unfunded commitments:


	December 31, 2021				June 30, 2022
Category of Investment	Fair Value		Unfunded Commitments		Fair Value		Unfunded Commitments

Private equity funds(1)	$	310.2	$	156.3	$	315.0	$	146.1
Investments in other strategies(2)	14.6		—		19.3		—
Total(3)	$	324.8	$	156.3	$	334.3	$	146.1

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(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 $224.4 million and $234.0 million as of December 31, 2021 and June 30, 2022, respectively.

Schedule of Investments without Readily Determinable Fair Value

The following table summarizes the cost, cumulative unrealized gains, and carrying amount of investments without readily determinable fair values:


	December 31, 2021		June 30, 2022
Cost	$	8.5	$	8.5
Cumulative unrealized gains	41.9		41.9
Carrying amount	$	50.4	$	50.4

The following table presents the changes in Other investments:


	For the Three Months Ended June 30,
	2021						2022
	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	$	278.9	$	13.8	$	292.7	$	343.7	$	50.4	$	394.1
Net realized and unrealized gains (losses)(1)	20.4		—		20.4		(13.7)		—		(13.7)
Purchases and commitments	8.8		—		8.8		12.1		—		12.1
Sales and distributions	(9.8)		—		(9.8)		(7.8)		—		(7.8)
Balance, end of period	$	298.3	$	13.8	$	312.1	$	334.3	$	50.4	$	384.7


	For the Six Months Ended June 30,
	2021						2022
	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	$	243.4	$	13.8	$	257.2	$	324.8	$	50.4	$	375.2
Net realized and unrealized gains(1)	50.2		—		50.2		1.7		—		1.7
Purchases and commitments	26.9		—		26.9		27.1		—		27.1
Sales and distributions	(22.2)		—		(22.2)		(19.3)		—		(19.3)
Balance, end of period	$	298.3	$	13.8	$	312.1	$	334.3	$	50.4	$	384.7

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(1)Recognized in Investment and other income.