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OTHER INVESTMENTS (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Other Investments

At June 30, 2025, the breakdown of the Company’s other investments was as follows:

						Cost						Unrealized gains						Unrealized losses						Accrued interest						Fair value / carrying value
Private investments and unlisted equities						$	30,476					$	52,808					$	(8,912)					$	—					$	74,372
Debt and convertible debt securities						3,084						—						(1,499)						79						1,664
Total other investments						$	33,560					$	52,808					$	(10,411)					$	79					$	76,036

At December 31, 2024, the breakdown of the Company’s other investments was as follows:

						Cost						Unrealized gains						Unrealized losses						Accrued interest						Fair value / carrying value
Private investments and unlisted equities						$	28,111					$	51,076					$	(7,320)					$	—					$	71,867
Debt and convertible debt securities						2,713						—						(1,510)						90						1,293
Total other investments						$	30,824					$	51,076					$	(8,830)					$	90					$	73,160

Schedule of Carrying Values of Private Investments and Unlisted Equity Securities Carried under Measurement Alternative

The following table presents the carrying values of the private investments and unlisted equity securities carried under the measurement alternative at June 30, 2025 and 2024, and the related adjustments recorded during the periods then ended.

						Six months ended June 30
						2025						2024
Carrying value (1)						$	74,372					$	71,866
Upward carrying value changes (2)						$	1,747					$	501
Downward carrying value changes and impairment (3)						$	(1,597)					$	(114)

(1) The period-end carrying values reflect cumulative purchases and sales in addition to upward and downward carrying value changes.

(2) The cumulative upward carrying value changes from inception to June 30, 2025, totaled $55.2 million.

(3) The cumulative downward carrying value changes and impairments from inception to June 30, 2025, totaled $11.3 million.

Schedule of Gain (Loss) on Securities

Net investment income

The following table summarizes the change in unrealized gains (losses) and the realized gains (losses) for the Company’s other investments, which are included in “Net investment income” in the condensed consolidated statements of operations (see Note 13):

						Three months ended June 30												Six months ended June 30
						2025						2024						2025						2024
Gross realized gains						$	—					$	—					$	5					$	—
Gross realized losses						—						—						—						(1,332)
Net realized gains (losses)						$	—					$	—					$	5					$	(1,332)
Change in unrealized gains						33						89						139						1,008
Net realized and unrealized gains (losses) on other investments						$	33					$	89					$	144					$	(324)

X

- Definition

Tabular disclosure of financial instrument measured at fair value on recurring or nonrecurring basis. Includes, but is not limited to, instrument classified in shareholders' equity.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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