Asset Management Fees

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Asset Management Fees

Asset Management Fees

    The following table presents the sources of asset management fees on a consolidated basis.

Asset Management Fees

	Third Quarter				Nine Months
	2022		2021		2022		2021
	(in millions)
Management fees:
CLOs	$	8	$	9	$	25	$	31
Opportunity funds and liquid strategies	2		4		14		12
Wind-down funds	1		2		2		6
Total management fees	11		15		41		49
Performance fees	2		—		17		1
Reimbursable fund expenses	3		5		13		15
Total asset management fees	$	16	$	20	$	71	$	65

    The Company had management and performance fees receivable, which are included in other assets on the condensed consolidated balance sheets, of $10 million as of September 30, 2022 and $8 million as of December 31, 2021. Performance fees in nine months 2022 were attributable to the healthcare and asset-based funds.