Condensed Consolidated Statements of Financial Condition (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Assets
Cash and cash equivalents	$ 80,069	$ 128,875
Cash collateral pledged	9,257	9,785
Securities owned, at fair value	807,266	744,914
Securities purchased under agreements to resell	224,573	166,260
Other investments	68,336	59,943
Receivable from brokers	15,238	62,046
Fees receivable	18,789	22,297
Due from related parties	16,107	16,554
Fixed assets, net of accumulated depreciation and amortization of $27,127 and $23,852, respectively	34,807	37,042
Goodwill	26,211	20,028
Intangible assets, net of accumulated amortization of $21,419 and $20,220, respectively	12,399	5,760
Other assets	23,495	26,620
Consolidated Funds
Cash and cash equivalents, Consolidated Funds	307	297
Securities owned, at fair value, Consolidated Funds	2,234	6,334
Other investments, at fair value, Consolidated Funds	227,918	228,820
Other assets, Consolidated Funds	625	263
Total Assets	1,567,631	1,535,838
Liabilities
Securities sold, not yet purchased, at fair value	400,945	334,251
Securities sold under agreement to repurchase	234,958	228,783
Payable to brokers	226,794	213,360
Compensation payable	22,365	71,223
Short-term borrowings and other debt	4,856	5,650
Fees payable	6,049	5,503
Due to related parties	771	1,914
Accounts payable, accrued expenses and other liabilities	59,850	61,462
Consolidated Funds
Capital withdrawals payable, Consolidated Funds	69	394
Accounts payable, accrued expenses and other liabilities, Consolidated Funds	589	246
Total Liabilities	957,246	922,786
Commitments and Contingencies (Note 13)
Redeemable non-controlling interests	98,460	104,587
Stockholders' equity
Preferred stock, par value $0.01 per share; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in capital	701,953	688,427
(Accumulated deficit) retained earnings	(167,931)	(163,980)
Accumulated other comprehensive income (loss)	27	(215)
Total Stockholders' Equity	511,925	508,465
Liabilities and Stockholders' equity	1,567,631	1,535,838
Common Stock Class A
Stockholders' equity
Common stock	1,135	1,135
Less: Class A common stock held in treasury, at cost, 7,886,686 and 5,346,003 shares as of June 30, 2012 and December 31, 2011, respectively	(23,259)	(16,902)
Common Stock Class B
Stockholders' equity
Common stock	$ 0	$ 0