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Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Cash flows from operating activities        
Net income before noncontrolling interests $ 104,185 $ 73,428 $ 262,137 $ 219,004
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization     7,501 6,896
Deferred income taxes 11,529 9,043 33,992 32,286
Asset impairment     979 0
Noncash lease expense (benefit)     (795) (158)
Net investment (gain) loss on nonconsolidated investment securities     (24,679) (7,551)
Net (gain) loss on the tax receivable agreements 504 (505) 504 (505)
(Gain) loss on disposal of property and equipment     29 2
Amortization of debt issuance costs     279 333
Share-based compensation     24,749 26,012
Net investment (gain) loss of consolidated investment products     (45,636) (38,189)
Purchase of investments by consolidated investment products     (264,618) (325,922)
Proceeds from sale of investments by consolidated investment products     207,022 224,288
Change in assets and liabilities resulting in an increase (decrease) in cash:        
Accounts receivable     (6,807) 2,232
Prepaid expenses and other assets     1,258 431
Accounts payable and accrued expenses     122,975 100,060
Net change in operating assets and liabilities of consolidated investment products including net investment income     16,776 23,583
Net cash provided by operating activities     335,666 262,802
Cash flows from investing activities        
Acquisition of property and equipment     (1,106) (585)
Leasehold improvements     (3,192) (5,690)
Proceeds from sale of investment securities     11,689 5,226
Purchase of investment securities     (31,810) (35,483)
Net cash used in investing activities     (24,419) (36,532)
Cash flows from financing activities        
Partnership distributions     (33,445) (30,341)
Dividends paid     (164,026) (138,451)
Payments under the tax receivable agreements     (36,659) (35,757)
Taxes paid related to employee net share settlement     (6,831) (6,758)
Capital contributions to consolidated investment products, net     35,043 76,997
Net cash used in financing activities     (205,918) (134,310)
Net increase in cash, cash equivalents, and restricted cash     105,329 91,960
Net cash impact of deconsolidation of CIPs (3,996) (4,679) (3,996) (4,679)
Cash, cash equivalents and restricted cash        
Beginning of period     178,467 143,248
End of period 279,800 230,529 279,800 230,529
Cash, cash equivalents and restricted cash as of the end of the period        
Cash, cash equivalents and restricted cash 279,800 230,529 279,800 230,529
Noncash activity:        
Establishment of deferred tax assets     18,465 3,214
Establishment of amounts payable under tax receivable agreements     14,011 828
Increase in investment securities due to deconsolidation of CIPs     23,831 19,612
Operating lease assets obtained in exchange for operating lease liabilities     3,197 78
Settlement of franchise capital liability via transfer of investment securities     7,212 3,204
Consolidated Entity, Excluding VIE        
Cash, cash equivalents and restricted cash as of the end of the period        
Cash and cash equivalents 253,949 198,308 253,949 198,308
Cash and cash equivalents 253,949 198,308 253,949 198,308
Variable Interest Entity, Primary Beneficiary        
Cash, cash equivalents and restricted cash as of the end of the period        
Cash and cash equivalents 25,851 32,221 25,851 32,221
Cash and cash equivalents $ 25,851 $ 32,221 $ 25,851 $ 32,221