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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net income before noncontrolling interests $ 109,791 $ 139,309
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,967 2,502
Deferred income taxes 14,997 13,707
Asset Impairment 2,107 0
Noncash lease expense 1,170 318
Net (gain) loss on unconsolidated seed investment securities (2,723) (625)
Loss on disposal of property and equipment 128 7
Amortization of debt issuance costs 229 229
Share-based compensation 24,422 29,569
Net investment (gain) loss of consolidated investment products (4,389) (9,226)
Purchase of investments by consolidated investment products (71,089) (572,217)
Proceeds from sale of investments by consolidated investment products 42,364 563,516
Change in assets and liabilities resulting in an increase (decrease) in cash:    
Accounts receivable (19,518) (126)
Prepaid expenses and other assets (637) (1,868)
Accounts payable and accrued expenses 63,170 74,117
Net change in operating assets and liabilities of consolidated investment products 19,648 1,747
Net cash provided by operating activities 182,637 240,959
Cash flows from investing activities    
Acquisition of property and equipment (2,372) (602)
Leasehold improvements (11,894) (2,161)
Net cash used in investing activities (14,266) (2,763)
Cash flows from financing activities    
Partnership distributions (48,324) (55,744)
Dividends paid (117,397) (102,637)
Payment under the tax receivable agreements (19,009) (27,251)
Net proceeds from issuance of common stock 0 21,478
Payment of costs directly associated with the issuance of Class A common stock 0 (166)
Purchase of equity and subsidiary equity 0 (21,478)
Taxes paid related to employee net share settlement (1,824) (1,805)
Capital contributions to consolidated investment products, net 1,995 27,223
Net cash used in financing activities (184,559) (160,380)
Net increase (decrease) in cash and cash equivalents (16,188) 77,816
Cash, cash equivalents and restricted cash    
Beginning of period 175,535 159,796
End of period 159,347 237,612
Cash, cash equivalents and restricted cash as of the end of the period    
Cash and cash equivalents 152,622 190,358
Restricted cash 629 629
Cash and cash equivalents of consolidated investment products 6,096 46,625
Noncash activity:    
Establishment of deferred tax assets 11,054 23,511
Establishment of amounts payable under tax receivable agreements 8,894 19,342
Operating lease assets obtained in exchange for operating lease liabilities $ 3,606 $ 0