Fair Value Measurement - Schedule of Changes in Level III Financial Assets Measured at Fair Value (Details)
$ in Millions |
3 Months Ended |
9 Months Ended |
|
Sep. 30, 2026
USD ($)
fund
|
Sep. 30, 2025
USD ($)
fund
|
Sep. 30, 2026
USD ($)
fund
|
Sep. 30, 2025
USD ($)
fund
|
| Realized and unrealized gains (losses), net |
|
|
|
|
| Number of deconsolidated funds | fund |
|
1
|
5
|
2
|
| Number of consolidated funds | fund |
2
|
3
|
3
|
4
|
| Other investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Initial consolidation/deconsolidation of funds |
|
$ 0.0
|
|
$ 0.0
|
| Level III |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Balance, beginning of period |
$ 11,545.7
|
9,877.7
|
$ 11,479.4
|
7,932.5
|
| Initial consolidation/deconsolidation of funds |
545.5
|
(1,009.0)
|
(268.3)
|
(1,293.5)
|
| Transfer out related to the Exchange |
|
|
|
(50.4)
|
| Purchases |
2,206.2
|
3,960.9
|
7,856.2
|
8,153.8
|
| Sales and distributions |
(1,561.3)
|
(2,214.5)
|
(5,227.2)
|
(3,870.7)
|
| Settlements |
(378.6)
|
(529.3)
|
(1,154.3)
|
(1,239.0)
|
| Realized and unrealized gains (losses), net |
|
|
|
|
| Included in earnings |
(45.4)
|
(25.3)
|
(260.4)
|
(26.9)
|
| Included in other comprehensive income |
(31.7)
|
(5.5)
|
(145.0)
|
449.2
|
| Balance, end of period |
12,280.4
|
10,055.0
|
12,280.4
|
10,055.0
|
| Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date |
(6.1)
|
(35.6)
|
(194.4)
|
(24.4)
|
| Changes in unrealized gains (losses) included in other comprehensive income related to financial assets still held at the reporting date |
(44.4)
|
(3.2)
|
(136.4)
|
244.0
|
| Level III | Equity securities |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Balance, beginning of period |
981.8
|
910.1
|
1,094.8
|
572.0
|
| Initial consolidation/deconsolidation of funds |
(7.4)
|
0.0
|
(34.6)
|
0.0
|
| Transfer out related to the Exchange |
|
|
|
0.0
|
| Purchases |
374.8
|
78.6
|
716.7
|
406.4
|
| Sales and distributions |
(159.6)
|
(11.1)
|
(482.3)
|
(39.6)
|
| Settlements |
0.0
|
0.0
|
0.0
|
0.0
|
| Realized and unrealized gains (losses), net |
|
|
|
|
| Included in earnings |
(15.6)
|
(34.1)
|
(120.6)
|
4.7
|
| Included in other comprehensive income |
0.0
|
0.0
|
0.0
|
0.0
|
| Balance, end of period |
1,174.0
|
943.5
|
1,174.0
|
943.5
|
| Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date |
0.7
|
(39.2)
|
(110.2)
|
(1.9)
|
| Changes in unrealized gains (losses) included in other comprehensive income related to financial assets still held at the reporting date |
$ 0.0
|
$ 0.0
|
$ 0.0
|
$ 0.0
|
| Fair value, asset, recurring basis, unobservable input reconciliation, gain (loss), statement of income or comprehensive income |
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
| Fair value, asset, recurring basis, unobservable input reconciliation, asset, gain (loss), statement of other comprehensive income or comprehensive income |
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
| Fair value, asset, recurring basis, still held, unrealized gain (loss), statement of income or comprehensive income |
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
| Level III | Bonds |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Balance, beginning of period |
$ 720.7
|
$ 569.7
|
$ 691.2
|
$ 465.1
|
| Initial consolidation/deconsolidation of funds |
20.0
|
(87.7)
|
14.1
|
(140.3)
|
| Transfer out related to the Exchange |
|
|
|
0.0
|
| Purchases |
186.4
|
253.0
|
456.3
|
536.2
|
| Sales and distributions |
(159.8)
|
(102.8)
|
(369.6)
|
(287.1)
|
| Settlements |
0.0
|
0.0
|
0.0
|
(0.6)
|
| Realized and unrealized gains (losses), net |
|
|
|
|
| Included in earnings |
(3.0)
|
2.5
|
(11.5)
|
6.4
|
| Included in other comprehensive income |
(4.1)
|
(0.1)
|
(20.3)
|
54.9
|
| Balance, end of period |
760.2
|
634.6
|
760.2
|
634.6
|
| Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date |
(2.8)
|
1.0
|
(11.8)
|
2.8
|
| Changes in unrealized gains (losses) included in other comprehensive income related to financial assets still held at the reporting date |
$ (4.2)
|
$ 0.1
|
$ (12.6)
|
$ 26.3
|
| Fair value, asset, recurring basis, unobservable input reconciliation, gain (loss), statement of income or comprehensive income |
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
| Fair value, asset, recurring basis, unobservable input reconciliation, asset, gain (loss), statement of other comprehensive income or comprehensive income |
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
| Fair value, asset, recurring basis, still held, unrealized gain (loss), statement of income or comprehensive income |
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
| Level III | Loans |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Balance, beginning of period |
$ 9,502.2
|
$ 7,964.7
|
$ 9,249.8
|
$ 6,431.4
|
| Initial consolidation/deconsolidation of funds |
533.9
|
(920.6)
|
(261.5)
|
(1,176.7)
|
| Transfer out related to the Exchange |
|
|
|
0.0
|
| Purchases |
1,631.9
|
3,601.0
|
6,634.8
|
7,119.7
|
| Sales and distributions |
(1,206.1)
|
(2,023.6)
|
(4,194.9)
|
(3,354.0)
|
| Settlements |
(378.6)
|
(529.3)
|
(1,154.3)
|
(1,238.4)
|
| Realized and unrealized gains (losses), net |
|
|
|
|
| Included in earnings |
(25.9)
|
(1.8)
|
(125.1)
|
(62.7)
|
| Included in other comprehensive income |
(23.5)
|
(0.9)
|
(114.9)
|
370.2
|
| Balance, end of period |
10,033.9
|
8,089.5
|
10,033.9
|
8,089.5
|
| Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date |
(3.6)
|
(1.0)
|
(70.1)
|
(49.1)
|
| Changes in unrealized gains (losses) included in other comprehensive income related to financial assets still held at the reporting date |
$ (36.2)
|
$ 0.6
|
$ (113.9)
|
$ 193.0
|
| Fair value, asset, recurring basis, unobservable input reconciliation, gain (loss), statement of income or comprehensive income |
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
| Fair value, asset, recurring basis, unobservable input reconciliation, asset, gain (loss), statement of other comprehensive income or comprehensive income |
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
| Fair value, asset, recurring basis, still held, unrealized gain (loss), statement of income or comprehensive income |
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
| Level III | Investments in CLOs |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Balance, beginning of period |
$ 321.0
|
$ 366.9
|
$ 349.0
|
$ 378.9
|
| Initial consolidation/deconsolidation of funds |
(1.0)
|
(0.7)
|
13.7
|
23.5
|
| Transfer out related to the Exchange |
|
|
|
0.0
|
| Purchases |
13.1
|
27.7
|
35.9
|
30.9
|
| Sales and distributions |
(35.8)
|
(18.8)
|
(93.5)
|
(100.6)
|
| Settlements |
0.0
|
0.0
|
0.0
|
0.0
|
| Realized and unrealized gains (losses), net |
|
|
|
|
| Included in earnings |
0.1
|
10.1
|
(2.0)
|
23.9
|
| Included in other comprehensive income |
(4.1)
|
(4.5)
|
(9.8)
|
24.1
|
| Balance, end of period |
293.3
|
380.7
|
293.3
|
380.7
|
| Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date |
0.6
|
8.3
|
(1.3)
|
22.8
|
| Changes in unrealized gains (losses) included in other comprehensive income related to financial assets still held at the reporting date |
$ (4.0)
|
$ (3.9)
|
$ (9.9)
|
$ 24.7
|
| Fair value, asset, recurring basis, unobservable input reconciliation, gain (loss), statement of income or comprehensive income |
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
| Fair value, asset, recurring basis, unobservable input reconciliation, asset, gain (loss), statement of other comprehensive income or comprehensive income |
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
| Fair value, asset, recurring basis, still held, unrealized gain (loss), statement of income or comprehensive income |
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
| Level III | Other investments |
|
|
|
|
| Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] |
|
|
|
|
| Balance, beginning of period |
$ 20.0
|
$ 66.3
|
$ 94.6
|
$ 85.1
|
| Initial consolidation/deconsolidation of funds |
0.0
|
|
0.0
|
|
| Transfer out related to the Exchange |
|
|
|
(50.4)
|
| Purchases |
0.0
|
0.6
|
12.5
|
60.6
|
| Sales and distributions |
0.0
|
(58.2)
|
(86.9)
|
(89.4)
|
| Settlements |
0.0
|
0.0
|
0.0
|
0.0
|
| Realized and unrealized gains (losses), net |
|
|
|
|
| Included in earnings |
(1.0)
|
(2.0)
|
(1.2)
|
0.8
|
| Included in other comprehensive income |
0.0
|
0.0
|
0.0
|
0.0
|
| Balance, end of period |
19.0
|
6.7
|
19.0
|
6.7
|
| Changes in unrealized gains (losses) included in earnings related to financial assets still held at the reporting date |
(1.0)
|
(4.7)
|
(1.0)
|
1.0
|
| Changes in unrealized gains (losses) included in other comprehensive income related to financial assets still held at the reporting date |
$ 0.0
|
$ 0.0
|
$ 0.0
|
$ 0.0
|
| Fair value, asset, recurring basis, unobservable input reconciliation, gain (loss), statement of income or comprehensive income |
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
| Fair value, asset, recurring basis, unobservable input reconciliation, asset, gain (loss), statement of other comprehensive income or comprehensive income |
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
Other Comprehensive Income (Loss), Net of Tax
|
| Fair value, asset, recurring basis, still held, unrealized gain (loss), statement of income or comprehensive income |
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|
Net investment income (loss) of Consolidated Funds
|