v3.26.1
Segments
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Segments Segments
For the three and six months ended June 30, 2026, there have been no changes in the basis of segmentation or in the basis of measurement of assessing segment performance for the Company’s single reportable segment.
The following table presents the Company’s segment operating revenue, significant segment expenses, other income, and segment net income (loss) for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Segment operating revenue$134,339 $119,657 $259,117 $245,503 
Less:
Cash-based employee compensation and benefits39,369 38,658 77,719 77,705 
Equity-based compensation10,650 6,776 33,604 27,077 
Partnership interest-based compensation7,626 16,323 13,004 28,548 
Carried interest compensation8,977 9,281 13,399 14,606 
Cash-based incentive fee related compensation4,505 3,832 8,723 8,990 
Other non-cash compensation51 (7)97 177 
General, administrative and other(1)
27,676 25,549 56,604 53,825 
Investment income(3,472)(5,782)(7,393)(6,546)
Interest expense4,431 5,908 9,294 11,571 
Other income(2)
(1,015)(1,182)(2,355)(2,028)
Change in fair value of warrants— (19,388)— (10,612)
Provision (benefit) for income taxes3,688 (202)6,824 3,389 
Segment net income$31,853 $39,891 $49,597 $38,801 
Reconciliation of profit or loss
Adjustments and reconciling items— — — — 
Consolidated net income$31,853 $39,891 $49,597 $38,801 
____________
(1)General, administrative and other consists primarily of professional fees, travel and related expenses, IT operations, communications and information services, occupancy, fund expenses, depreciation and amortization, and other costs associated with our operations.
(2)Other income consists primarily of other non-operating items, including write-off of unamortized debt issuance costs due to prepayments and refinancing of debt and interest income.