v3.26.1
Variable Interest Entities (Tables)
6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Maximum Exposure to Loss Relating to Non-consolidated VIEs
The carrying amounts of consolidated VIE’s assets and liabilities, adjusting for intercompany eliminations, were as follows:
As of
June 30, 2026December 31, 2025
Assets
Cash and cash equivalents $1,042 $2,497 
Management fees receivable584 449 
Other assets264 302 
Total assets$1,890 $3,248 
Liabilities
Accrued expenses and other liabilities222 234 
Total liabilities$222 $234 
The following table sets forth certain information regarding the VIEs in which the Company holds a variable interest but does not consolidate. The assets recognized on the Company’s Condensed Consolidated Statements of Financial Condition relate to the Company’s interests in and management fees, incentive fees and third party costs receivables from these non-consolidated VIEs. The Company’s maximum exposure to loss relating to non-consolidated VIEs as of June 30, 2026 and December 31, 2025 were as follows:
As of
June 30, 2026December 31, 2025
Investments$132,639 $121,572 
Receivables14,753 12,387 
Maximum exposure to loss$147,392 $133,959