| Summary of related party transactions |
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(in thousands)
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June 30, 2019
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December 31, 2018
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Related party assets
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Receivables (investment management fees)
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|
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$
|
20,178
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$
|
19,612
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Receivables (fund administration and distribution fees)
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|
|
|
3,148
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|
|
3,153
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Investments (available-for-sale securities, fair value)
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|
|
|
722
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|
601
|
|
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Investments (trading securities, fair value)
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15,503
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|
|
12,343
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Total
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|
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$
|
39,551
|
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$
|
35,709
|
|
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|
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|
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Related party liabilities
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|
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|
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Accounts payable and accrued expenses (fund reimbursements)
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|
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$
|
3,782
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$
|
2,300
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Other liabilities (promissory note)
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|
|
|
—
|
|
|
96
|
|
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Total
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|
|
$
|
3,782
|
|
$
|
2,396
|
|
|
|
|
|
|
|
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Three Months Ended June 30,
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Six Months Ended June 30,
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|
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(in thousands)
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|
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2019
|
|
2018
|
|
2019
|
|
2018
|
|
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Related party revenue
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|
|
|
|
|
|
|
|
|
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|
|
|
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Investment management fees (1)
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|
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$
|
55,716
|
|
$
|
66,476
|
|
$
|
109,508
|
|
$
|
132,342
|
|
|
Fund administration and distribution fees
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|
|
|
13,318
|
|
|
15,401
|
|
|
26,386
|
|
|
31,235
|
|
|
Total
|
|
|
$
|
69,034
|
|
$
|
81,877
|
|
$
|
135,894
|
|
$
|
163,577
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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Related party expense
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Distribution and other asset-based expenses (fund reimbursements) (1)
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|
|
$
|
—
|
|
$
|
3,347
|
|
$
|
—
|
|
$
|
6,280
|
|
|
General and administrative
|
|
|
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—
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|
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(6)
|
|
|
—
|
|
|
135
|
|
|
Total
|
|
|
$
|
—
|
|
$
|
3,341
|
|
$
|
—
|
|
$
|
6,415
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
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Related party other income (expense)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Interest income/(expense) and other income/(expense)
|
|
|
$
|
455
|
|
$
|
265
|
|
$
|
1,816
|
|
$
|
166
|
|
|
Interest income/(expense) and other financing costs (promissory note)
|
|
|
|
—
|
|
|
(5)
|
|
|
(1)
|
|
|
(11)
|
|
|
Total
|
|
|
$
|
455
|
|
$
|
260
|
|
$
|
1,815
|
|
$
|
155
|
|
Effective January 1, 2019 upon the adoption of ASU 2014-09, expense reimbursements have been reclassed to investment management fees.
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