v3.26.1
ACQUISITIONS AND INTANGIBLE ASSETS, NET
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS AND INTANGIBLE ASSETS, NET
3. ACQUISITIONS AND INTANGIBLE ASSETS, NET
Acquisitions and Earnout Related Payments
For additional information on the Company’s acquisitions, see Note 1 and Note 3 to the financial statements in the Company’s Annual Report.
During the second quarter of 2026, the Company made a payment of $59.9 million related to the 2025 KAM Earnout Period (as defined in Note 3 to the financial statements in the Company’s Annual Report).
Intangible Assets, Net
The following table summarizes the Company’s intangible assets, net:
(dollars in thousands)June 30,
2026		December 31,
2025		Remaining Weighted-Average Amortization Period as of June 30, 2026
Intangible assets, gross:
Investment management agreements$3,505,420 $3,505,420 10.6 years
Investor relationships575,300 575,300 7.2 years
Total intangible assets, gross4,080,720 4,080,720 
Accumulated amortization:
Investment management agreements(1,134,180)(990,915)
Investor relationships(227,756)(201,005)
Total accumulated amortization(1,361,936)(1,191,920)
Total Intangible Assets, Net$2,718,784 $2,888,800 
The following table presents expected future amortization of finite-lived intangible assets as of June 30, 2026:
(dollars in thousands)
PeriodAmortization
July 1, 2026 to December 31, 2026$172,446 
2027323,069 
2028316,679 
2029310,984 
2030276,126 
Thereafter1,319,480 
Total$2,718,784