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Commitment and Contingencies | 6 Months Ended
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Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | Commitments and Contingencies From time to time, the Company and its Affiliates may be subject to claims, legal proceedings, and other contingencies in the ordinary course of their business activities. Any such matters are subject to various uncertainties, and it is possible that some of these matters may be resolved in a manner unfavorable to the Company or its Affiliates. The Company and its Affiliates establish accruals, as necessary, for matters for which the outcome is probable and the amount of the liability can be reasonably estimated. The Company has committed to co-invest in certain Affiliate sponsored investment products. As of June 30, 2023, these unfunded commitments were $154.3 million and may be called in future periods. As of June 30, 2023, the Company was obligated to make deferred payments and was contingently liable to make payments in connection with certain of its consolidated Affiliates as follows:
|  |  |  |  |  |  |  | Earliest Payable
|  | Controlling Interest |  | Co-Investor |  | Total |  | 2023 |  | 2024 |  | 2025 |  |
Deferred payment obligations |  | $ | 65.0 |  |  | $ | — |  |  | $ | 65.0 |  |  | $ | 21.7 |  |  | $ | 43.3 |  |  | $ | — |  |  |
Contingent payment obligations(1) |  | 18.0 |  |  | 5.4 |  |  | 23.4 |  |  | — |  |  | 21.8 |  |  | 1.6 |  |  |
__________________________ (1)Fair value as of June 30, 2023. The Company is contingently liable to make maximum contingent payments of up to $110.0 million ($24.9 million attributable to the co-investor), of which $100.0 million and $10.0 million may become payable in 2024 and 2025, respectively. As of June 30, 2023, the Company was contingently liable to make payments of $153.5 million related to the achievement of specified financial targets by certain of its Affiliates accounted for under the equity method, all of which may become payable from 2024 through 2029. As of June 30, 2023, the Company expected to make payments of approximately $13 million. In the event certain financial targets are not met at one of the Company’s Affiliates accounted for under the equity method, the Company may receive payments of up to $12.5 million and also has the option to reduce its ownership interest and receive an incremental payment of $25.0 million. Affiliate equity interests provide holders at consolidated Affiliates with a conditional right to put their interests to the Company over time. See Note 14. The Company and certain of its consolidated Affiliates operate under regulatory authorities that require the maintenance of minimum financial or capital requirements. The Company’s management is not aware of any significant violations of such requirements.

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