v3.26.1
Business Combination (Tables)
 6 Months Ended
Jun. 30, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Purchase Price Allocation The following table summarizes the final purchase price allocation determined as of the acquisition date:
(in millions)
Cash and Cash Equivalents $17.8 
Goodwill1
35.6 
Intangible Assets2
4.6 
Other Assets5.9 
Less: Liabilities Assumed(9.4)
Less: Fair Value of Redeemable Noncontrolling Interest in Subsidiary3
(21.8)
Total Purchase Price Consideration$32.7 
1    The goodwill recognized is attributable to enhanced revenue and growth opportunities from future projects and the assembled workforce of the Rivington business and is not deductible for tax purposes.
2    Intangible Assets are made up of customer contracts with an estimated useful life of 8.5 years and is recorded in Intangible Assets, net on the Consolidated Balance Sheets.
3    The fair value of the noncontrolling interest was determined utilizing the market approach and consideration of the overall business enterprise value.
The following table summarizes the preliminary purchase price allocation determined as of the acquisition date:
(in millions)
Cash and Cash Equivalents$3.0 
Goodwill1
231.7 
Intangible Assets2
102.8 
Other Assets17.4 
Less: Liabilities Assumed(13.9)
Less: Fair Value of Redeemable Noncontrolling Interest in Subsidiary3
(68.2)
Total Purchase Price Consideration$272.8 
1    The goodwill recognized is attributable to revenue and growth opportunities from real estate funds and the assembled workforce of the FCP business and is deductible for tax purposes.
2    Intangible Assets are made up of a trade name, customer contracts and institutional investor relationships and are recorded in Intangible Assets, net on the Consolidated Balance Sheets.
3    The fair value of the noncontrolling interest was determined utilizing the market approach and consideration of the overall business enterprise value.