v3.25.3
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2025
Dec. 31, 2024
Assets    
Investments $ 222.5 $ 221.9
Total assets 751.4 703.2
Liabilities and stockholders’ equity    
Operating lease liabilities 62.3  
Total liabilities 640.1 616.1
Commitments and contingencies (Note 8)
Equity:    
Total equity and redeemable non-controlling interests in consolidated Funds 111.3 87.1
Total liabilities and equity 751.4 703.2
Consolidated Entity Excluding Consolidated Funds    
Assets    
Cash and cash equivalents 117.3 94.8
Investment advisory fees receivable 139.0 164.7
Income taxes receivable 13.7 3.0
Fixed assets, net 31.4 35.7
Right of use assets 48.2 52.5
Investments 40.8 67.9
Goodwill 20.3 20.3
Other assets 28.3 26.7
Deferred tax assets 74.5 78.3
Liabilities and stockholders’ equity    
Accounts payable and accrued expenses 34.0 37.9
Accrued incentive compensation 96.2 119.6
Other compensation liabilities 115.5 92.5
Accrued income taxes 2.4 3.3
Operating lease liabilities 62.3 67.3
Revolving credit facility 0.0 0.0
Third party borrowings 274.6 274.3
Equity:    
Common stock (par value $0.001; 35,709,043 and 37,477,707 shares, respectively, issued) 0.0 0.0
Additional paid-in capital 0.0 0.0
Retained earnings 21.9 24.4
Accumulated other comprehensive loss (1.5) (4.4)
Consolidated Funds    
Assets    
Cash and cash equivalents 21.4  
Investments 181.7 154.0
Other assets 34.8 1.6
Cash and cash equivalents, restricted 21.4 3.7
Liabilities and stockholders’ equity    
Accounts payable and accrued expenses 22.8 0.5
Other liabilities 6.3 0.3
Securities sold short 26.0 20.4
Redeemable non-controlling interests in consolidated Funds $ 90.9 $ 67.1