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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Cash flows from operating activities        
Net income before noncontrolling interests $ 73,428 $ 52,480 $ 219,004 $ 182,090
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     6,896 5,618
Deferred income taxes 9,043 7,307 32,286 21,697
Noncash lease expense (benefit)     (158) 1,271
Net investment (gain) loss on nonconsolidated investment securities     (7,551) 23,777
Net (gain) loss on the tax receivable agreements (505) (431) (505) (913)
(Gain) loss on disposal of property and equipment     2 38
Amortization of debt issuance costs     333 329
Share-based compensation     26,012 31,613
Purchase of investments by consolidated investment products     (325,922) (319,093)
Proceeds from sale of investments by consolidated investment products     224,288 151,198
Change in assets and liabilities resulting in an increase (decrease) in cash:        
Accounts receivable     2,232 12,416
Prepaid expenses and other assets     431 2,527
Accounts payable and accrued expenses     100,060 94,611
Net change in operating assets and liabilities of consolidated investment products including net investment income     23,583 84,838
Net cash provided by operating activities     262,802 306,622
Cash flows from investing activities        
Acquisition of property and equipment     (585) (5,284)
Leasehold improvements     (5,690) (11,007)
Proceeds from sale of investment securities     5,226 5,164
Purchase of investment securities     (35,483) (49,337)
Net cash used in investing activities     (36,532) (60,464)
Cash flows from financing activities        
Partnership distributions     (30,341) (43,721)
Dividends paid     (138,451) (210,306)
Payment of debt issuance costs     0 543
Proceeds from issuance of notes payable     0 90,000
Principal payments on notes payable     0 90,000
Payments under the tax receivable agreements     (35,757) (33,109)
Taxes paid related to employee net share settlement     (6,758) (7,754)
Capital contributions to consolidated investment products, net     76,997 36,126
Net cash used in financing activities     (134,310) (259,307)
Net increase (decrease) in cash, cash equivalents, and restricted cash     91,960 (13,149)
Net cash impact of deconsolidation of CIPs (4,679) 0 (4,679) 0
Cash, cash equivalents and restricted cash        
Beginning of period     143,248 200,771
End of period 230,529 187,622 230,529 187,622
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 230,529 187,622 230,529 187,622
Noncash activity:        
Establishment of deferred tax assets     3,214 8,327
Establishment of amounts payable under tax receivable agreements     828 5,929
Increase in investment securities due to deconsolidation of CIPs     19,612 9,970
Operating lease assets obtained in exchange for operating lease liabilities     78 32,070
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 2,152 5,563 (11,329) 23,729
Cash, cash equivalents and restricted cash as of the end of the period        
Cash and cash equivalents 198,308 168,123 198,308 168,123
Cash and cash equivalents 198,308 168,123 198,308 168,123
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 (9,787) 3,936 (38,189) 14,605
Cash, cash equivalents and restricted cash as of the end of the period        
Cash and cash equivalents 32,221 18,870 32,221 18,870
Cash and cash equivalents $ 32,221 $ 18,870 $ 32,221 $ 18,870