Related Party Transactions

9 Months Ended

Sep. 30, 2018

The Company is an investment adviser to, and has administrative agreements with, affiliated funds for which certain employees are officers and/or directors. The following table summarizes the amount of revenue the Company earned from these affiliated funds for the periods presented (in thousands):



	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Investment advisory and administration fees ⁽¹⁾	$	62,474	$	60,757	$	181,368	$	174,199
Distribution and service fees	7,451		7,808		22,108		22,867
Total	$	69,925	$	68,565	$	203,476	$	197,066

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(1)	Investment advisory and administration fees are reflected net of fund reimbursements of approximately $2.1 million and $2.0 million for the three months ended September 30, 2018 and 2017, respectively, and approximately $6.4 million and $6.2 million for the nine months ended September 30, 2018 and 2017, respectively.

The following table summarizes sales proceeds, gross realized gains, gross realized losses and dividend income from investments in Company-sponsored funds for the periods presented (in thousands):



	Three Months Ended September 30,					Nine Months Ended September 30,
	2018			2017		2018			2017
Proceeds from sales	$	3,053		$	—	$	10,782		$	15,105
Gross realized gains	28			—		28			80
Gross realized losses	(1		)	—		(4,448		)	—
Dividend income	102			141		369			529

Included in accounts receivable at September 30, 2018 and December 31, 2017 are receivables due from Company-sponsored funds of approximately $23,028,000 and $23,666,000, respectively.