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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net loss $ (1,090) $ (18,907)
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization expense 1,010 633
Equity-based compensation, equity-classified awards 22,301 14,027
Deferred income tax expense (benefit) 901 (686)
Other non-cash compensation 184 171
Partnership interest-based compensation 12,225 30,002
Amortization of debt issuance costs 192 273
Amortization of terminated swap (1,870) (1,890)
Change in fair value of warrant liabilities 8,776 2,144
Change in payable to related parties pursuant to tax receivable agreement 8 0
Proceeds received from investments 3,335 1,908
Non-cash investment income (764) (5,677)
Non-cash lease expense 952 677
Other (136) 276
Change in assets and liabilities:    
Management fees receivable (262) 6,809
Incentive fees receivable 35,391 13,220
Due from related parties 1,425 (3,296)
Other assets (1,756) 2,762
Accrued compensation and employee related obligations (49,328) (22,488)
Lease liabilities (1,197) 132
Accrued expenses and other liabilities 2,967 4,114
Net cash provided by operating activities 33,264 24,204
Cash flows from investing activities    
Purchases of premises and equipment (1,170) (4,195)
Contributions/subscriptions to investments (5,887) (6,048)
Distributions from investments 5,917 1,586
Net cash used in investing activities (1,140) (8,657)
Cash flows from financing activities    
Capital contributions received from noncontrolling interests 260 396
Capital distributions paid to partners and member (19,064) (7,896)
Capital distributions paid to noncontrolling interests (5,188) (3,867)
Principal payments on senior loan (1,095) (1,000)
Proceeds from exercise of warrants 2,762 0
Settlement of equity-based compensation in satisfaction of withholding tax requirements (312) (149)
Dividends paid (5,066) (4,733)
Net cash used in financing activities (27,703) (17,249)
Effect of exchange rate changes on cash 624 (789)
Net increase (decrease) in cash and cash equivalents 5,045 (2,491)
Beginning of period 89,454 44,354
End of period 94,499 41,863
Supplemental disclosure of cash flow information    
Cash paid during the period for interest 7,171 7,821
Cash paid during the period for income taxes, net 1,324 1,380
Supplemental disclosure of cash flow information from operating activities    
Non-cash right-of-use assets obtained in exchange for new and modified operating leases 206 3,155
Non-cash adjustment to operating lease right-of-use assets from lease modification (76) (60)
Supplemental disclosure of cash flow information from investing activities    
Non-cash premises and equipment additions in accrued expenses and other liabilities 0 1,911
Supplemental disclosure of non-cash information from financing activities    
Deemed contributions from GCMH Equityholders 12,225 30,002
Establishment of deferred tax assets, net related to non-cash activities $ (19) $ (306)