v3.26.1
Investments
6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Investments Investments
Investments consist of the following:
As of
June 30, 2026December 31, 2025
Equity method investments$265,786 $255,740 
Other investments25,858 19,573 
Total investments$291,644 $275,313 
As of June 30, 2026 and December 31, 2025, the Company held investments of $291.6 million and $275.3 million, respectively, of which $36.2 million and $40.5 million were owned by noncontrolling interest holders, respectively. Future net income (loss) and cash flow from investments held by noncontrolling interest holders will not be attributable to the Company.
On February 28, 2025, the Company closed a joint venture, Grove Lane Partners LLC (“Grove Lane”), a premier distribution platform to broaden individual investor access to alternative investments. Upon closing, the Company made a total capital commitment of $15.0 million in exchange for a 49% interest in Grove Lane, which is accounted for using the equity method of accounting. Under the terms of the joint venture agreement, the Company maintains the right, but not the obligation, to purchase the remaining 51% interest at a future date based on an agreed upon future value. As of June 30, 2026, the Company has funded $8.7 million of its capital commitment.
Other Investments
See Note 5 for fair value disclosures of certain investments held within other investments. The Company also holds $0.1 million of other investments not held at fair value within other investments as of June 30, 2026 and December 31, 2025, respectively.