The assets and liabilities related to CIP are identified on the Consolidated Balance Sheets within Investments and other assets of CIP and Debt and other liabilities of CIP, respectively. The consolidation of CIP had no impact on Net income attributable to the company during the three and six months ended June 30, 2026.


(in millions)	June 30, 2026		December 31, 2025
ASSETS
Cash and cash equivalents of CIP	$	694.9	$	942.3
Accounts receivable and other assets of CIP	464.2		266.1
Investments of CIP	9,415.0		8,941.4
Investments and other assets of CIP	$	10,574.1	$	10,149.8
LIABILITIES
Debt of CIP	$	7,641.5	$	7,552.7
Other liabilities of CIP	1,366.2		1,414.9
Debt and other liabilities of CIP	9,007.7		8,967.6
EQUITY
Equity attributable to redeemable noncontrolling interests	363.3		75.4



Invesco's net investment in and net receivables due from CIP	568.1		408.3
Equity attributable to nonredeemable noncontrolling interests	635.0		698.5
Total liabilities and equity	$	10,574.1	$	10,149.8

The following tables present the fair value hierarchy levels of Investments of CIP which are measured at fair value as of June 30, 2026 and December 31, 2025:


	June 30, 2026
(in millions)	Fair Value Measurements		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Investments Measured at NAV as a Practical Expedient
Assets:

Bank loans	$	8,150.5	$	—	$	7,842.4	$	308.1	$	—
Bonds	652.7		5.6		647.1		—		—
Equity securities	198.5		75.7		2.8		120.0		—


Equity and fixed income mutual funds	19.5		6.6		12.9		—		—

Investments in other private equity funds	389.8		—		—		—		389.8

Real estate investments	4.0		—		—		—		4.0


Total assets at fair value	$	9,415.0	$	87.9	$	8,505.2	$	428.1	$	393.8


	December 31, 2025
(in millions)	Fair Value Measurements		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Investments Measured at NAV as a Practical Expedient
Assets:

Bank loans	$	7,635.2	$	—	$	7,309.7	$	325.5	$	—
Bonds	674.2		11.8		640.5		21.9		—
Equity securities	172.1		50.8		1.3		120.0		—


Equity and fixed income mutual funds	17.8		5.4		12.4		—		—

Investments in other private equity funds	438.0		—		—		—		438.0

Real estate investments	4.1		—		—		—		4.1


Total assets at fair value	$	8,941.4	$	68.0	$	7,963.9	$	467.4	$	442.1

The following table shows a reconciliation of the beginning and ending fair value measurements for level 3 assets using significant unobservable inputs as of June 30, 2026 and 2025:


	Three months ended June 30,
	2026		2025
(in millions)	Level 3 Assets		Level 3 Assets


Beginning balance as of April 1	$	494.6	$	487.8






CIP purchases	38.4		109.3



CIP sales	(56.6)		(63.5)

Gains and losses included in the Consolidated Statements of Income	(1.2)		(13.4)
Transfers from Level 3 into Levels 1 or 2	(73.5)		(105.9)
Transfers into Level 3 from Levels 1 or 2	26.4		79.7
Foreign exchange	—		1.2
Ending balance as of June 30	$	428.1	$	495.2


	Six months ended June 30,
	2026		2025
(in millions)	Level 3 Assets		Level 3 Assets


Beginning balance as of January 1	$	467.4	$	383.1






CIP purchases	157.9		243.3



CIP sales	(109.6)		(133.5)

Gains and losses included in the Consolidated Statements of Income	(9.7)		(17.7)
Transfers from Level 3 into Levels 1 or 2	(143.8)		(137.8)
Transfers into Level 3 from Levels 1 or 2	68.3		151.1
Foreign exchange	(2.4)		6.7
Ending balance as of June 30	$	428.1	$	495.2

At June 30, 2026, the company's carrying value and risk of loss with respect to VIEs in which the company is not the primary beneficiary included our investment carrying value of $174.4 million (December 31, 2025: $242.4 million) and unfunded capital commitments of $72.7 million (December 31, 2025: $86.8 million).