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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities      
Net income before noncontrolling interests $ 308,503 $ 241,457 $ 254,190
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 6,625 6,233 5,668
Deferred income taxes 27,990 7,356 24,863
Asset impairment 871 2,107 0
Noncash lease expense (1,499) 1,533 4,086
Net investment (gain) loss on nonconsolidated seed investment securities (160) (5,101) (688)
Net (gain) loss on the tax receivable agreements 4,674 19,557 (251)
(Gain) loss on disposal of property and equipment 5 275 18
Amortization of debt issuance costs 422 463 457
Share-based compensation 37,027 43,095 53,554
Net investment (gain) loss of consolidated investment products (26,147) (10,084) (5,721)
Purchase of investments by consolidated investment products (191,274) (123,366) (643,548)
Proceeds from sale of investments by consolidated investment products 137,561 75,468 611,117
Change in assets and liabilities resulting in an increase (decrease) in cash:      
Accounts receivable (18,020) (14,178) 9,002
Prepaid expenses and other assets (6,110) 1,031 (2,275)
Accounts payable and accrued expenses 1,622 6,881 10,027
Net change in operating assets and liabilities of consolidated investment products 36,587 40,066 12,823
Net cash provided by operating activities 318,677 292,793 333,322
Cash flows from investing activities      
Acquisition of property and equipment (2,049) (3,498) (2,834)
Payments For Leasehold Improvements 1,050 14,286 11,007
Proceeds from sale of investment securities 24,001 288 0
Purchase of investment securities (2,150) (10) (500)
Net cash provided by (used in) investing activities 18,752 (17,506) (14,341)
Cash flows from financing activities      
Partnership distributions 85,805 94,842 103,434
Dividends paid (203,006) (188,178) (167,780)
Payment of debt issuance costs 0 (366) 0
Proceeds from issuance of notes payable 0 50,000 0
Principal payments on notes payable 0 (50,000) 0
Tax Receivable Agreement Payments 26,943 24,998 36,111
Net proceeds from issuance of common stock 63,027 0 21,478
Payment of costs directly associated with the issuance of Class A common stock (227) 0 (166)
Payments for Repurchase of Other Equity (63,027) 0 (21,478)
Taxes paid related to employee net share settlement (4,530) (2,078) (2,564)
Capital contributions to consolidated investment products, net 38,277 3,895 46,572
Net cash used in financing activities (282,234) (306,567) (263,483)
Net increase (decrease) in cash, cash equivalents and restricted cash 55,195 (31,280) 55,498
Net cash impact of deconsolidation of CIPs 0 0 (39,759)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Beginning Balance 144,255 175,535 159,796
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance 199,450 144,255 175,535
Cash, cash equivalents and restricted cash      
Restricted cash 629 629 629
Noncash activity:      
Establishment of deferred tax assets 77,756 35,999 24,679
Establishment of amounts payable under tax receivable agreements 64,087 30,967 20,303
Increase in investment securities due to deconsolidation of consolidated investment products 1,469 946 11,381
Operating lease assets obtained in exchange for operating leases 3,425 4,162 0
Cash paid for:      
Interest on borrowings 10,255 10,649 10,694
Income tax 35,484 18,593 20,731
Consolidated Entity, Excluding VIE      
Cash, cash equivalents and restricted cash      
Cash and cash equivalents 154,987 134,621 160,463
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 (26,147) (10,084) (5,721)
Cash, cash equivalents and restricted cash      
Cash and cash equivalents 43,834 9,005  
Cash and cash equivalents of consolidated investment products $ 43,834 $ 9,005 $ 14,443