13. Other Assets

The Company records certain corporate investments, which exclude seed and co-investments in the Company's sponsored investment products, within other assets on the condensed consolidated statements of financial condition.

At both June 30, 2026 and December 31, 2025, the Company had $1.6 billion of corporate equity method investments, recorded within other assets. At June 30, 2026 and December 31, 2025, the Company's ownership interest in its minority investment in iCapital Network Inc. ("iCapital") was approximately 21% and 22%, respectively. The carrying value of the Company's interest at both June 30, 2026 and December 31, 2025 was $0.7 billion. In accordance with GAAP, certain equity method investees, including iCapital, do not account for both their financial assets and liabilities under fair value measures; therefore, the Company’s investment in such equity method investees may not represent fair value.

At June 30, 2026 and December 31, 2025, the Company had $1.1 billion and $0.8 billion, respectively, of other non-equity method corporate minority investments recorded within other assets. These investments include equity securities, generally measured at fair value or under the measurement alternative to fair value for nonmarketable securities, and corporate minority private debt investments measured at fair value. Changes in the value of the equity securities are recorded in nonoperating income (expense), and changes in value of the debt securities are recorded in AOCI, net of tax. See Note 2, Significant Accounting Policies, in the notes to the consolidated financial statements contained in the 2025 Form 10-K for further information.