Variable Interest Entities and Consolidated Investment Products (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Measurements, Recurring and Non-recurring [Abstract]

Variable Interest Entities and Consolidated Investment Products

The following tables present the fair value hierarchy levels of assets and liabilities held by CIPs measured at fair value as of September 30, 2025 and December 31, 2024:


	Assets and Liabilities at Fair Value
	Total		Level 1		Level 2		Level 3
September 30, 2025
Assets
Money market funds	$	31,187	$	31,187	$	—	$	—
Equity securities - long position	150,368		150,368		—		—
Fixed income instruments - long position	176,864		—		167,335		9,529
Derivative assets	2,064		34		2,030		—




Liabilities


Derivative liabilities	$	898	$	88	$	806	$	4


	Assets and Liabilities at Fair Value
	Total		Level 1		Level 2		Level 3
December 31, 2024
Assets
Money market funds	$	58,239	$	58,239	$	—	$	—
Equity securities - long position	72,547		70,642		1,905		—
Fixed income instruments - long position	381,556		—		359,597		21,959
Derivative assets	934		237		697		—

Private equity	7,103		—		—		7,103

Liabilities
Fixed income instruments - short position	$	7,013	$	—	$	7,013	$	—
Derivative liabilities	516		—		516		—
Reverse repurchase agreements	251		—		251		—

CIP balances included in the Company’s unaudited condensed consolidated statements of financial condition were as follows:


	As of September 30, 2025		As of December 31, 2024
Net CIP assets included in the table above	$	359,585	$	512,599
Net CIP assets/(liabilities) not included in the table above	3,803		(88,191)
Total Net CIP assets	363,388		424,408
Less: redeemable noncontrolling interests	256,194		327,917
Artisan’s direct equity investment in CIPs	$	107,194	$	96,491