Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($)
shares in Millions, $ in Millions |
Total |
Accumulated other comprehensive income (loss) |
Consolidated Entity Excluding Consolidated Funds
Total stockholders’ equity (deficit)
|
Consolidated Entity Excluding Consolidated Funds
Common Stock
|
Consolidated Entity Excluding Consolidated Funds
Additional paid-in capital
|
Consolidated Entity Excluding Consolidated Funds
Retained earnings (deficit)
|
Consolidated Entity Excluding Consolidated Funds
Accumulated other comprehensive income (loss)
|
Consolidated Funds |
| Beginning balance (in shares) at Dec. 31, 2023 |
|
|
|
41.4
|
|
|
|
|
| Beginning balance at Dec. 31, 2023 |
|
$ (6.7)
|
$ 40.2
|
$ 0.0
|
$ 0.0
|
$ 46.9
|
$ (6.7)
|
|
| Increase (Decrease) in Stockholders' Equity |
|
|
|
|
|
|
|
|
| Issuance of common stock (in shares) |
|
|
|
0.3
|
|
|
|
|
| Issuance of common stock |
|
|
0.1
|
|
0.1
|
|
|
|
| Repurchases of common stock (in shares) |
|
|
|
(4.4)
|
|
|
|
|
| Repurchase of common stock |
|
|
(95.7)
|
|
(0.4)
|
(95.3)
|
|
|
| Equity-based compensation |
|
|
0.6
|
|
0.6
|
|
|
|
| Foreign currency translation adjustment, net of tax |
$ 0.8
|
|
0.8
|
|
|
|
0.8
|
|
| Amortization related to derivatives securities, net of tax |
|
|
2.0
|
|
|
|
2.0
|
|
| Withholding tax related to stock option exercise and restricted stock vesting |
(7.2)
|
|
(7.2)
|
|
(0.3)
|
(6.9)
|
|
|
| Dividends |
|
|
(1.2)
|
|
|
(1.2)
|
|
|
| Net income |
42.5
|
|
42.5
|
|
|
42.5
|
|
|
| Ending balance (in shares) at Sep. 30, 2024 |
|
|
|
37.3
|
|
|
|
|
| Ending balance at Sep. 30, 2024 |
|
(3.9)
|
(17.9)
|
$ 0.0
|
0.0
|
(14.0)
|
(3.9)
|
|
| Beginning balance at Dec. 31, 2023 |
|
|
|
|
|
|
|
$ 9.3
|
| Increase (Decrease) in redeemable non-controlling interest in consolidated Funds |
|
|
|
|
|
|
|
|
| Net income attributable to redeemable non-controlling interests in consolidated Funds |
3.7
|
|
|
|
|
|
|
3.7
|
| Capital contributions |
1.1
|
|
|
|
|
|
|
1.1
|
| Ending balance at Sep. 30, 2024 |
|
|
|
|
|
|
|
14.1
|
| Beginning balance at Dec. 31, 2023 |
49.5
|
|
|
|
|
|
|
|
| Increase (Decrease) in total equity and redeemable non-controlling interest in consolidated Funds |
|
|
|
|
|
|
|
|
| Issuance of common stock |
0.1
|
|
|
|
|
|
|
|
| Repurchase of common stock |
(95.7)
|
|
|
|
|
|
|
|
| Capital contributions |
1.1
|
|
|
|
|
|
|
1.1
|
| Equity-based compensation |
0.6
|
|
|
|
|
|
|
|
| Foreign currency translation adjustment, net of tax |
0.8
|
|
|
|
|
|
|
|
| Amortization related to derivative securities, net of tax |
2.0
|
|
|
|
|
|
|
|
| Withholding tax related to stock option exercise and restricted stock vesting |
(7.2)
|
|
(7.2)
|
|
(0.3)
|
(6.9)
|
|
|
| Dividends |
(1.2)
|
|
|
|
|
|
|
|
| Net income |
46.2
|
|
|
|
|
|
|
|
| Ending balance at Sep. 30, 2024 |
(3.8)
|
|
|
|
|
|
|
|
| Beginning balance (in shares) at Jun. 30, 2024 |
|
|
|
37.1
|
|
|
|
|
| Beginning balance at Jun. 30, 2024 |
|
(5.4)
|
(30.8)
|
$ 0.0
|
0.0
|
(25.4)
|
(5.4)
|
|
| Increase (Decrease) in Stockholders' Equity |
|
|
|
|
|
|
|
|
| Issuance of common stock (in shares) |
|
|
|
0.2
|
|
|
|
|
| Issuance of common stock |
|
|
0.1
|
|
0.1
|
|
|
|
| Equity-based compensation |
|
|
0.2
|
|
0.2
|
|
|
|
| Foreign currency translation adjustment, net of tax |
0.8
|
|
0.8
|
|
|
|
0.8
|
|
| Amortization related to derivatives securities, net of tax |
|
|
0.7
|
|
|
|
0.7
|
|
| Withholding tax related to stock option exercise and restricted stock vesting |
(5.4)
|
|
(5.4)
|
|
(0.3)
|
(5.1)
|
|
|
| Dividends |
|
|
(0.4)
|
|
|
(0.4)
|
|
|
| Net income |
16.9
|
|
16.9
|
|
|
16.9
|
|
|
| Ending balance (in shares) at Sep. 30, 2024 |
|
|
|
37.3
|
|
|
|
|
| Ending balance at Sep. 30, 2024 |
|
(3.9)
|
(17.9)
|
$ 0.0
|
0.0
|
(14.0)
|
(3.9)
|
|
| Beginning balance at Jun. 30, 2024 |
|
|
|
|
|
|
|
12.0
|
| Increase (Decrease) in redeemable non-controlling interest in consolidated Funds |
|
|
|
|
|
|
|
|
| Net income attributable to redeemable non-controlling interests in consolidated Funds |
2.1
|
|
|
|
|
|
|
2.1
|
| Ending balance at Sep. 30, 2024 |
|
|
|
|
|
|
|
14.1
|
| Beginning balance at Jun. 30, 2024 |
(18.8)
|
|
|
|
|
|
|
|
| Increase (Decrease) in total equity and redeemable non-controlling interest in consolidated Funds |
|
|
|
|
|
|
|
|
| Issuance of common stock |
0.1
|
|
|
|
|
|
|
|
| Equity-based compensation |
0.2
|
|
|
|
|
|
|
|
| Foreign currency translation adjustment, net of tax |
0.8
|
|
|
|
|
|
|
|
| Amortization related to derivative securities, net of tax |
0.7
|
|
|
|
|
|
|
|
| Withholding tax related to stock option exercise and restricted stock vesting |
(5.4)
|
|
(5.4)
|
|
(0.3)
|
(5.1)
|
|
|
| Dividends |
(0.4)
|
|
|
|
|
|
|
|
| Net income |
19.0
|
|
|
|
|
|
|
|
| Ending balance at Sep. 30, 2024 |
(3.8)
|
|
|
|
|
|
|
|
| Beginning balance (in shares) at Dec. 31, 2024 |
|
|
|
37.5
|
|
|
|
|
| Beginning balance at Dec. 31, 2024 |
|
(4.4)
|
20.0
|
$ 0.0
|
0.0
|
24.4
|
(4.4)
|
|
| Increase (Decrease) in Stockholders' Equity |
|
|
|
|
|
|
|
|
| Repurchases of common stock (in shares) |
|
|
|
(1.8)
|
|
|
|
|
| Repurchase of common stock |
|
|
(48.4)
|
|
(1.7)
|
(46.7)
|
|
|
| Equity-based compensation |
|
|
1.9
|
|
1.9
|
|
|
|
| Foreign currency translation adjustment, net of tax |
0.7
|
|
0.7
|
|
|
|
0.7
|
|
| Amortization related to derivatives securities, net of tax |
|
|
2.2
|
|
|
|
2.2
|
|
| Withholding tax related to stock option exercise and restricted stock vesting |
(0.2)
|
|
(0.2)
|
|
(0.2)
|
|
|
|
| Dividends |
|
|
(1.1)
|
|
|
(1.1)
|
|
|
| Net income |
45.3
|
|
45.3
|
|
|
45.3
|
|
|
| Ending balance (in shares) at Sep. 30, 2025 |
|
|
|
35.7
|
|
|
|
|
| Ending balance at Sep. 30, 2025 |
|
(1.5)
|
20.4
|
$ 0.0
|
0.0
|
21.9
|
(1.5)
|
|
| Beginning balance at Dec. 31, 2024 |
|
|
|
|
|
|
|
67.1
|
| Increase (Decrease) in redeemable non-controlling interest in consolidated Funds |
|
|
|
|
|
|
|
|
| Net income attributable to redeemable non-controlling interests in consolidated Funds |
24.6
|
|
|
|
|
|
|
24.6
|
| Capital contributions |
142.1
|
|
|
|
|
|
|
142.1
|
| Net deconsolidation of Funds |
|
|
|
|
|
|
|
(142.9)
|
| Ending balance at Sep. 30, 2025 |
|
|
|
|
|
|
|
90.9
|
| Beginning balance at Dec. 31, 2024 |
87.1
|
|
|
|
|
|
|
|
| Increase (Decrease) in total equity and redeemable non-controlling interest in consolidated Funds |
|
|
|
|
|
|
|
|
| Repurchase of common stock |
(48.4)
|
|
|
|
|
|
|
|
| Capital contributions |
142.1
|
|
|
|
|
|
|
142.1
|
| Equity-based compensation |
1.9
|
|
|
|
|
|
|
|
| Foreign currency translation adjustment, net of tax |
0.7
|
|
|
|
|
|
|
|
| Amortization related to derivative securities, net of tax |
2.2
|
|
|
|
|
|
|
|
| Withholding tax related to stock option exercise and restricted stock vesting |
(0.2)
|
|
(0.2)
|
|
(0.2)
|
|
|
|
| Net deconsolidation of Funds |
(142.9)
|
|
|
|
|
|
|
|
| Dividends |
(1.1)
|
|
|
|
|
|
|
|
| Net income |
69.9
|
|
|
|
|
|
|
|
| Ending balance at Sep. 30, 2025 |
111.3
|
|
|
|
|
|
|
|
| Beginning balance (in shares) at Jun. 30, 2025 |
|
|
|
35.8
|
|
|
|
|
| Beginning balance at Jun. 30, 2025 |
|
(2.1)
|
9.2
|
$ 0.0
|
0.0
|
11.3
|
(2.1)
|
|
| Increase (Decrease) in Stockholders' Equity |
|
|
|
|
|
|
|
|
| Repurchases of common stock (in shares) |
|
|
|
(0.1)
|
|
|
|
|
| Repurchase of common stock |
|
|
(5.0)
|
|
(0.8)
|
(4.2)
|
|
|
| Equity-based compensation |
|
|
0.8
|
|
0.8
|
|
|
|
| Foreign currency translation adjustment, net of tax |
(0.2)
|
|
(0.2)
|
|
|
|
(0.2)
|
|
| Amortization related to derivatives securities, net of tax |
|
|
0.8
|
|
|
|
0.8
|
|
| Dividends |
|
|
(0.3)
|
|
|
(0.3)
|
|
|
| Net income |
15.1
|
|
15.1
|
|
|
15.1
|
|
|
| Ending balance (in shares) at Sep. 30, 2025 |
|
|
|
35.7
|
|
|
|
|
| Ending balance at Sep. 30, 2025 |
|
$ (1.5)
|
$ 20.4
|
$ 0.0
|
$ 0.0
|
$ 21.9
|
$ (1.5)
|
|
| Beginning balance at Jun. 30, 2025 |
|
|
|
|
|
|
|
77.7
|
| Increase (Decrease) in redeemable non-controlling interest in consolidated Funds |
|
|
|
|
|
|
|
|
| Net income attributable to redeemable non-controlling interests in consolidated Funds |
11.9
|
|
|
|
|
|
|
11.9
|
| Capital contributions |
144.2
|
|
|
|
|
|
|
144.2
|
| Net deconsolidation of Funds |
|
|
|
|
|
|
|
(142.9)
|
| Ending balance at Sep. 30, 2025 |
|
|
|
|
|
|
|
90.9
|
| Beginning balance at Jun. 30, 2025 |
86.9
|
|
|
|
|
|
|
|
| Increase (Decrease) in total equity and redeemable non-controlling interest in consolidated Funds |
|
|
|
|
|
|
|
|
| Repurchase of common stock |
(5.0)
|
|
|
|
|
|
|
|
| Capital contributions |
144.2
|
|
|
|
|
|
|
$ 144.2
|
| Equity-based compensation |
0.8
|
|
|
|
|
|
|
|
| Foreign currency translation adjustment, net of tax |
(0.2)
|
|
|
|
|
|
|
|
| Amortization related to derivative securities, net of tax |
0.8
|
|
|
|
|
|
|
|
| Net deconsolidation of Funds |
(142.9)
|
|
|
|
|
|
|
|
| Dividends |
(0.3)
|
|
|
|
|
|
|
|
| Net income |
27.0
|
|
|
|
|
|
|
|
| Ending balance at Sep. 30, 2025 |
$ 111.3
|
|
|
|
|
|
|
|