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Segments (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Schedule of Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table presents the Company’s segment operating revenue, significant segment expenses, other income, and segment net income (loss) for the years ended December 31, 2024, 2023 and 2022:

			Year Ended December 31,
			2024						2023						2022
Segment operating revenue			$	514,012					$	444,999					$	446,530
Less:
Cash-based employee compensation and benefits			148,547						156,153						160,522
Equity-based compensation			48,158						50,667						30,721
Partnership interest-based compensation			72,068						103,934						31,811
Carried interest compensation			30,450						28,505						41,920
Cash-based incentive fee related compensation			36,455						15,628						11,001
Other non-cash compensation			558						1,157						1,336
General, administrative and other(1)			104,296						100,801						88,907
Investment income			(15,589)						(11,640)						(10,108)
Interest expense			24,160						23,745						23,314
Other income(2)			(1,334)						(1,008)						(1,436)
Change in fair value of warrants			16,079						(1,429)						(20,551)
Provision for income taxes			13,560						7,692						9,611
Segment net income (loss)			$	36,604					$	(29,206)					$	79,482
Reconciliation of profit or loss
Adjustments and reconciling items			—						—						—
Consolidated net income (loss)			$	36,604					$	(29,206)					$	79,482

____________

(1)General, administrative and other consists primarily of professional fees, travel and related expenses, IT operations, communications and information services, occupancy, fund expenses, depreciation and amortization, and other costs associated with our operations.

(2)Other income consists primarily of other non-operating items, including write-off of unamortized debt issuance costs due to prepayments and refinancing of debt and interest income.

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- Definition

Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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X

- References

No definition available.

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