Intangible Assets and Goodwill (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Schedule of Finite-Lived Intangible Assets |
The following table summarizes the carrying values of intangible assets as of June 30, 2025 and December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Gross Carrying Value | | Accumulated Amortization | | Net Carrying Value | | Gross Carrying Value | | Accumulated Amortization | | Net Carrying Value | | Contractual performance fee allocations | $ | 313,000 | | | $ | (116,168) | | | $ | 196,832 | | | $ | 313,000 | | | $ | (92,718) | | | $ | 220,282 | | | Management contracts | 287,000 | | | (57,935) | | | 229,065 | | | 302,000 | | | (53,680) | | | 248,320 | | | Technology | 46,000 | | | (19,167) | | | 26,833 | | | 46,000 | | | (13,417) | | | 32,583 | | | Investor relationships | 25,000 | | | (8,333) | | | 16,667 | | | 25,000 | | | (7,292) | | | 17,708 | | | Trade name | 15,500 | | | (4,697) | | | 10,803 | | | 15,500 | | | (3,288) | | | 12,212 | | Other intangible assets(a) | 1,494 | | | (462) | | | 1,032 | | | 8,494 | | | (5,892) | | | 2,602 | | Total intangible assets, net | $ | 687,994 | | | $ | (206,762) | | | $ | 481,232 | | | $ | 709,994 | | | $ | (176,287) | | | $ | 533,707 | |
_______________(a)Includes indefinite-lived intangible assets of $1.0 million as of June 30, 2025 and December 31, 2024.
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| Schedule of Indefinite-Lived Intangible Assets |
The following table summarizes the carrying values of intangible assets as of June 30, 2025 and December 31, 2024 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | Gross Carrying Value | | Accumulated Amortization | | Net Carrying Value | | Gross Carrying Value | | Accumulated Amortization | | Net Carrying Value | | Contractual performance fee allocations | $ | 313,000 | | | $ | (116,168) | | | $ | 196,832 | | | $ | 313,000 | | | $ | (92,718) | | | $ | 220,282 | | | Management contracts | 287,000 | | | (57,935) | | | 229,065 | | | 302,000 | | | (53,680) | | | 248,320 | | | Technology | 46,000 | | | (19,167) | | | 26,833 | | | 46,000 | | | (13,417) | | | 32,583 | | | Investor relationships | 25,000 | | | (8,333) | | | 16,667 | | | 25,000 | | | (7,292) | | | 17,708 | | | Trade name | 15,500 | | | (4,697) | | | 10,803 | | | 15,500 | | | (3,288) | | | 12,212 | | Other intangible assets(a) | 1,494 | | | (462) | | | 1,032 | | | 8,494 | | | (5,892) | | | 2,602 | | Total intangible assets, net | $ | 687,994 | | | $ | (206,762) | | | $ | 481,232 | | | $ | 709,994 | | | $ | (176,287) | | | $ | 533,707 | |
_______________(a)Includes indefinite-lived intangible assets of $1.0 million as of June 30, 2025 and December 31, 2024.
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| Schedule of Finite-Lived Intangible Assets, Future Amortization Expense |
The following table presents estimated remaining amortization expense for finite-lived intangible assets that existed as of June 30, 2025 (in thousands):
| | | | | | | | | | Remainder of 2025 | | $ | 49,044 | | | 2026 | | 98,089 | | | 2027 | | 96,149 | | | 2028 | | 75,304 | | | 2029 | | 49,699 | | | Thereafter | | 111,953 | | | Total | | $ | 480,238 | |
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