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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Cash flows from operating activities    
Net income before noncontrolling interests $ 336,865 $ 200,043
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 5,081 4,967
Deferred income taxes 28,411 23,698
Asset impairment 0 871
Noncash lease expense (1,272) (1,275)
Net (gain) loss on the tax receivable agreements (358) (238)
(Gain) loss on disposal of property and equipment 1 (4)
Amortization of debt issuance costs 304 304
Share-based compensation 30,099 27,931
Purchase of investments by consolidated investment products (190,614) (130,486)
Proceeds from sale of investments by consolidated investment products 127,863 108,887
Change in assets and liabilities resulting in an increase (decrease) in cash:    
Accounts receivable (22,260) (16,555)
Prepaid expenses and other assets (4,214) (4,496)
Accounts payable and accrued expenses 113,355 78,770
Net change in operating assets and liabilities of consolidated investment products 1,205 13,413
Net cash provided by operating activities 404,168 298,721
Cash flows from investing activities    
Acquisition of property and equipment (1,791) (1,372)
Leasehold improvements (3,338) (370)
Proceeds from sale of investment securities 12,813 20,118
Purchase of investment securities (33,820) (2,149)
Net cash provided by (used in) investing activities (26,136) 16,227
Cash flows from financing activities    
Partnership distributions (67,889) (60,245)
Dividends paid (203,471) (151,091)
Payment under the tax receivable agreements (31,250) (26,943)
Net proceeds from issuance of common stock 46,928 63,027
Payment of costs directly associated with the issuance of Class A common stock (244) (220)
Purchase of equity and subsidiary equity (46,928) (63,027)
Taxes paid related to employee net share settlement (9,159) (4,530)
Capital contributions to consolidated investment products, net 59,818 14,768
Net cash used in financing activities (252,195) (228,261)
Net increase (decrease) in cash, cash equivalents, and restricted cash 125,837 86,687
Net cash impact of deconsolidation of CIPs 34,823 0
Cash, cash equivalents and restricted cash    
Beginning of period 199,450 144,255
End of period 290,464 230,942
Cash, cash equivalents and restricted cash as of the end of the period    
Restricted cash 629 629
Cash, cash equivalents and restricted cash 290,464 230,942
Noncash activity:    
Establishment of deferred tax assets 28,548 46,437
Establishment of amounts payable under tax receivable agreements 23,206 37,602
Increase in investment securities due to deconsolidation of CIPs 20,900 1,469
Operating lease assets obtained in exchange for operating lease liabilities 2,434 3,406
Consolidated Entity Excluding Variable Interest Entities (VIE)    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net investment (gain) loss on investment (2,230) 642
Consolidated Entity, Excluding VIE    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net investment (gain) loss on investment (2,022) 505
Cash, cash equivalents and restricted cash as of the end of the period    
Cash and cash equivalents 273,253 200,433
Variable Interest Entity, Primary Beneficiary    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net investment (gain) loss on investment (18,068) (7,751)
Cash, cash equivalents and restricted cash as of the end of the period    
Cash and cash equivalents $ 16,582 $ 29,880