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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income before noncontrolling interests $ 71,801 $ 82,437
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,197 1,710
Deferred income taxes 12,147 8,846
Noncash lease expense (171) (150)
Net investment (gain) loss on nonconsolidated investment securities (8,728) 4,599
Net (gain) loss on the tax receivable agreements 0 (482)
(Gain) loss on disposal of property and equipment (2) 0
Amortization of debt issuance costs 111 118
Share-based compensation 10,314 11,339
Purchase of investments by consolidated investment products (69,281) (37,902)
Proceeds from sale of investments by consolidated investment products 53,283 34,765
Change in assets and liabilities resulting in an increase (decrease) in cash:    
Accounts receivable 671 (6,644)
Prepaid expenses and other assets 604 2,871
Accounts payable and accrued expenses 72,772 90,574
Net change in operating assets and liabilities of consolidated investment products (9,846) 604
Net cash provided by operating activities 120,936 191,497
Cash flows from investing activities    
Acquisition of property and equipment (346) (1,084)
Leasehold improvements (2,725) (2,893)
Proceeds from sale of investment securities 2,465 3,972
Purchase of investment securities (35,597) (56,398)
Net cash used in investing activities (36,203) (56,403)
Cash flows from financing activities    
Partnership distributions (3,327) (11,168)
Dividends paid (61,835) (117,596)
Taxes paid related to employee net share settlement (6,758) (7,420)
Capital contributions to consolidated investment products, net 17,071 3,989
Net cash used in financing activities (54,849) (132,195)
Net increase (decrease) in cash, cash equivalents, and restricted cash 29,884 2,899
Cash, cash equivalents and restricted cash    
Beginning of period 143,248 200,771
End of period 173,132 203,670
Cash, cash equivalents and restricted cash as of the end of the period    
Restricted cash 0 629
Cash, cash equivalents and restricted cash 173,132 203,670
Noncash activity:    
Establishment of deferred tax assets 1,358 1,195
Establishment of amounts payable under tax receivable agreements 1,018 440
Increase in investment securities due to deconsolidation of CIPs 0 9,970
Operating lease assets obtained in exchange for operating lease liabilities 78 15,874
Settlement of franchise capital liability via transfer of investment securities 1,411 0
Variable Interest Entity, Primary Beneficiary    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net investment (gain) loss of consolidated investment products (14,940) (1,188)
Cash, cash equivalents and restricted cash as of the end of the period    
Cash and cash equivalents 22,504 15,530
Consolidated Entity, Excluding VIE    
Adjustments to reconcile net income to net cash provided by operating activities:    
Net investment (gain) loss of consolidated investment products (9,257) 4,752
Cash, cash equivalents and restricted cash as of the end of the period    
Cash and cash equivalents $ 150,628 $ 187,511