Derivatives (Tables)

9 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The following tables summarize the notional amount and fair value of outstanding derivative financial instruments, none of which were designated in a formal hedging relationship:

	As of September 30, 2024
			Fair Value (1)
(in thousands)	Notional Amount		Assets		Liabilities
Corporate derivatives:
Total return swaps	$	46,837	$	87	$	1,613
Forward contracts - foreign exchange	15,849		18		746
Total corporate derivatives	$	62,686	$	105	$	2,359

	As of December 31, 2023
			Fair Value (1)
(in thousands)	Notional Amount		Assets		Liabilities
Corporate derivatives:
Total return swaps	$	40,217	$	28	$	2,488
Forward contracts - foreign exchange	9,641		—		405
Total corporate derivatives	$	49,858	$	28	$	2,893

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(1)    The fair value of derivative financial instruments is recorded in other assets and other liabilities and accrued expenses on the Company's condensed consolidated statements of financial condition.

Gains (losses) on Derivatives

The following table summarizes net gains (losses) from derivative financial instruments:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2024		2023		2024		2023
Corporate derivatives:
Total return swaps	$	(5,597)	$	2,222	$	(5,797)	$	1,545
Forward contracts - foreign exchange	(983)		673		(323)		1,873
Total (1)	$	(6,580)	$	2,895	$	(6,120)	$	3,418

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(1)Gains and losses on total return swaps are included in gain (loss) from investments—net in the Company's condensed consolidated statements of operations. Gains and losses on forward foreign exchange contracts are included in foreign currency gain (loss)—net in the Company's condensed consolidated statements of operations.