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Variable Interest Entities and Consolidated Investment Products (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Measurements, Recurring and Non-recurring [Abstract]

Variable Interest Entities and Consolidated Investment Products

Upon loss of control, the VIE was deconsolidated and the following assets, liabilities, and equity of the fund were derecognized from the Company’s Unaudited Condensed Consolidated Statements of Financial Condition:

						As of January 1, 2021
Assets of consolidated investment products
Cash and cash equivalents						$	34,823
Accounts receivable and other						1,769
Investment assets, at fair value						72,868
Less: Amounts reclassified to investment securities						(11,200)
Total assets						$	98,260
Liabilities of consolidated investment products
Accounts payable, accrued expenses, and other						$	76,960
Investment liabilities, at fair value						566
Total liabilities						$	77,526
Redeemable noncontrolling interests						$	20,734
Total liabilities and equity						$	98,260

The following tables present the fair value hierarchy levels of assets and liabilities held by CIPs measured at fair value as of March 31, 2021 and December 31, 2020:

			Assets and Liabilities at Fair Value
			Total						Level 1						Level 2						Level 3
March 31, 2021
Assets
Money market funds			$	4,270					$	4,270					$	—					$	—
Equity securities - long position			84,543						81,937						2,606						—
Fixed income instruments - long position			142,486						—						142,486						—
Liabilities
Fixed income instruments - short position			$	12,786					$	—					$	12,786					$	—
Derivative liabilities			155						—						155						—

			Assets and Liabilities at Fair Value
			Total						Level 1						Level 2						Level 3
December 31, 2020
Assets
Money market funds			$	7,822					$	7,822					$	—					$	—
Equity securities - long position			83,960						83,027						933						—
Fixed income instruments - long position			133,518						—						133,518						—
Derivative assets			12,902						12,902						—						—
Liabilities
Fixed income instruments - short position			$	14,978					$	—					$	14,978					$	—
Derivative liabilities			753						566						187						—

CIP balances included in the Company’s Unaudited Condensed Consolidated Statements of Financial Condition were as follows:

			As of March 31, 2021						As of December 31, 2020
Net CIP assets included in the table above			$	218,358					$	222,471
Net CIP assets/(liabilities) not included in the table above			(31,376)						(69,763)
Total Net CIP assets			186,982						152,708
Less: redeemable noncontrolling interests			124,915						93,753
Artisan’s direct equity investment in CIPs			$	62,067					$	58,955

X

- Definition

Fair Value Measurements, Recurring and Non-recurring [Abstract]

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Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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