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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Cash flows from operating activities    
Net income before noncontrolling interests $ 200,043 $ 172,003
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 4,967 4,567
Deferred income taxes 23,698 (218)
Asset impairment 871 2,107
Noncash lease expense (1,275) 1,668
Net (gain) loss on the tax receivable agreements (238) 19,557
(Gain) loss on disposal of property and equipment (4) 131
Amortization of debt issuance costs 304 345
Share-based compensation 27,931 34,399
Net investment (gain) loss of consolidated investment products (7,751) (5,008)
Purchase of investments by consolidated investment products (130,486) (94,252)
Proceeds from sale of investments by consolidated investment products 108,887 53,186
Change in assets and liabilities resulting in an increase (decrease) in cash:    
Accounts receivable (16,555) (23,623)
Prepaid expenses and other assets (4,496) (5)
Accounts payable and accrued expenses 78,770 70,708
Net change in operating assets and liabilities of consolidated investment products 13,413 29,392
Net cash provided by operating activities 298,721 261,583
Cash flows from investing activities    
Acquisition of property and equipment (1,372) (2,958)
Leasehold improvements (370) (13,702)
Proceeds from sale of investment securities 20,118 0
Purchase of investment securities (2,149) (10)
Net cash provided by (used in) investing activities 16,227 (16,670)
Cash flows from financing activities    
Partnership distributions (60,245) (70,152)
Dividends paid (151,091) (151,310)
Payment of debt issuance costs 0 (308)
Proceeds from issuance of notes payable 0 50,000
Principal payments on notes payable 0 (50,000)
Payment under the tax receivable agreements (26,943) (24,998)
Net proceeds from issuance of common stock 63,027 0
Payment of costs directly associated with the issuance of Class A common stock (220) 0
Purchase of equity and subsidiary equity (63,027) 0
Taxes paid related to employee net share settlement (4,530) (2,078)
Capital contributions to consolidated investment products, net 14,768 2,324
Net cash used in financing activities (228,261) (246,522)
Net increase (decrease) in cash, cash equivalents, and restricted cash 86,687 (1,609)
Cash, cash equivalents and restricted cash    
Beginning of period 144,255 175,535
End of period 230,942 173,926
Cash, cash equivalents and restricted cash as of the end of the period    
Cash, cash equivalents and restricted cash 230,942 173,926
Noncash activity:    
Establishment of deferred tax assets 46,437 34,022
Establishment of amounts payable under tax receivable agreements 37,602 29,368
Increase in investment securities due to deconsolidation of CIPs 1,469 946
Operating lease assets obtained in exchange for operating lease liabilities 3,406 3,606
Consolidated Entity, Excluding VIE    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net investment (gain) loss on nonconsolidated seed investment securities 505 (4,347)
Variable Interest Entity, Primary Beneficiary    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net investment (gain) loss on nonconsolidated seed investment securities (7,751) (5,008)
Consolidated Entity Excluding Variable Interest Entities (VIE)    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net investment (gain) loss on nonconsolidated seed investment securities $ 642 $ (3,374)