Debt Obligations and Credit Facilities (Tables)

6 Months Ended

Jun. 30, 2012

Debt Obligations and Credit Facilities [Abstract]

Debt Obligations

	June 30, 2012		December 31, 2011
$75,000, 5.03%, issued in June 2004, payable in seven equal annual installments starting June 14, 2008	$	21,429	$	32,143
$50,000, 6.09%, issued in June 2006, payable on June 6, 2016		50,000		50,000
$50,000, 5.82%, issued in November 2006, payable on November 8, 2016		50,000		50,000
$250,000, 6.75%, issued in November 2009, payable on December 2, 2019		250,000		250,000
$300,000, 3.19% rate as described below, term loan issued in January 2011, payable 2.5% per quarter through December 31, 2015, final $150,000 payment on January 6, 2016		255,000		270,000
Total remaining principal	$	626,429	$	652,143

Future principal payments of debt obligations

Future principal payments of debt obligations are as follows:

Remainder of 2012	$	15,000
2013		40,714
2014		40,715
2015		30,000
2016		250,000
Thereafter		250,000
Total	$	626,429

Revolving bank credit facilities and term loans outstanding of the consolidated funds

Credit agreement	Outstanding amount				Facility capacity		LIBOR margin  (1)			Maturity		Commitment fee rate		LOC fee  (2)
	June 30, 2012		December 31, 2011
Multi-currency term loan  (3)	$	48,801	$	50,117	$	275,000		3.00	%		12/23/13		N.A.		N.A.
Revolving credit facility		—		—	$	150,000		1.75	%		12/15/13		0.35%		N.A.
Revolving credit facility		54,550		—	$	125,000		1.75	%		5/20/14		0.35%		N.A.
Revolving credit facility		—		—	$	55,000		2.00	%		9/15/13		0.35%		2.00%
Euro-denominated revolving credit facility		—		—	€	55,000		1.50	%		12/11/12		0.30%		1.50%
Euro-denominated revolving credit facility		40,610		—	€	55,000		1.75	%		12/17/13		0.30%		1.75% 2.00%	or
Revolving credit facility		—		—	$	10,000		2.25	%		9/01/12		0.38%		0.38%
Revolving credit facility		75,000		—	$	75,000		1.75	%		9/06/13		0.35%		2.30%
	$	218,961	$	50,117

(1) The facilities bear interest at the borrower’s option of (a) an annual rate of LIBOR plus the applicable margin or (b) an alternate base rate, as defined in the respective credit agreement.

(2) Certain facilities allow for the issuance of letters of credit at an applicable annual fee. As of June 30, 2012 and December 31, 2011, outstanding standby letters of credit totaled $61,884 and $75,884, respectively.

(3) A four-year $275,000 aggregate principal amount term loan that consists of (a) a U.S. Dollar-denominated loan in an aggregate principal amount of $221,451, (b) a euro-denominated loan in an aggregate principal amount of €26,492 and (c) an Australian dollar-denominated loan in an aggregate principal amount of AU$17,660. The loan is guaranteed by the fund and, with certain limited exceptions, all of the subsidiaries of the fund, and is collateralized by both the unfunded capital commitments of the partners and, with certain exceptions, the portfolio investments of the fund and its subsidiaries. In connection with the term loan, $4,125 was paid to the administrative agent as a structuring fee and is being amortized over the 4-year life of the term loan.