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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Cash flows from operating activities        
Net income before noncontrolling interests $ 73,775 $ 47,173 $ 145,576 $ 129,610
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     4,507 3,527
Deferred income taxes 11,096 5,544 23,243 14,390
Noncash lease expense (benefit)     (178) 566
Net investment (gain) loss on nonconsolidated investment securities     (11,791) 18,141
Net (gain) loss on the tax receivable agreements 0 0 0 (482)
(Gain) loss on disposal of property and equipment     2 2
Amortization of debt issuance costs     222 236
Share-based compensation     18,117 21,454
Purchase of investments by consolidated investment products     (244,265) (182,387)
Proceeds from sale of investments by consolidated investment products     146,051 87,023
Change in assets and liabilities resulting in an increase (decrease) in cash:        
Accounts receivable     3,077 (10,346)
Prepaid expenses and other assets     2,060 (4,023)
Accounts payable and accrued expenses     86,272 89,255
Net change in operating assets and liabilities of consolidated investment products including net investment income     38,614 40,478
Net cash provided by operating activities     183,105 218,113
Cash flows from investing activities        
Acquisition of property and equipment     (438) (1,702)
Leasehold improvements     (3,995) (7,882)
Proceeds from sale of investment securities     5,069 5,164
Purchase of investment securities     (35,640) (48,648)
Net cash used in investing activities     (35,004) (53,068)
Cash flows from financing activities        
Partnership distributions     (17,458) (31,695)
Dividends paid     (96,292) (169,239)
Payment under the tax receivable agreements     (27,176) (25,112)
Taxes paid related to employee net share settlement     (6,758) (7,420)
Capital contributions to consolidated investment products, net     53,984 31,569
Net cash used in financing activities     (93,700) (201,897)
Net increase (decrease) in cash, cash equivalents, and restricted cash     54,401 (36,852)
Cash, cash equivalents and restricted cash        
Beginning of period     143,248 200,771
End of period 197,649 163,919 197,649 163,919
Cash, cash equivalents and restricted cash as of the end of the period        
Restricted cash 0 629 0 629
Cash, cash equivalents and restricted cash 197,649 163,919 197,649 163,919
Noncash activity:        
Establishment of deferred tax assets     1,588 1,481
Establishment of amounts payable under tax receivable agreements     1,200 661
Increase in investment securities due to deconsolidation of CIPs     0 9,970
Operating lease assets obtained in exchange for operating lease liabilities     78 24,659
Settlement of franchise capital liability via transfer of investment securities     3,204 0
Consolidated Entity, Excluding VIE        
Adjustments to reconcile net income to net cash provided by operating activities:        
Net investment (gain) loss of consolidated investment products (4,224) 13,414 (13,481) 18,166
Cash, cash equivalents and restricted cash as of the end of the period        
Cash and cash equivalents 165,025 150,654 165,025 150,654
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 (13,462) 11,857 (28,402) 10,669
Cash, cash equivalents and restricted cash as of the end of the period        
Cash and cash equivalents $ 32,624 $ 12,636 $ 32,624 $ 12,636