Condensed Consolidated Statements of Financial Condition (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Assets
Cash and cash equivalents	$ 55,776	$ 128,875
Cash collateral pledged	9,269	9,785
Securities owned, at fair value	648,772	744,914
Securities purchased under agreements to resell	0	166,260
Other investments	70,151	59,943
Receivable from brokers	103,825	62,046
Fees receivable	22,113	22,297
Due from related parties	16,366	16,554
Fixed assets, net of accumulated depreciation and amortization of $28,720 and $23,852, respectively	33,722	37,042
Goodwill	26,211	20,028
Intangible assets, net of accumulated amortization of $22,116 and $20,220, respectively	11,668	5,760
Other assets	23,192	26,620
Consolidated Funds
Cash and cash equivalents, Consolidated Funds	1,892	297
Securities owned, at fair value, Consolidated Funds	3,095	6,334
Other investments, at fair value, Consolidated Funds	205,095	228,820
Other assets, Consolidated Funds	372	263
Total Assets	1,231,519	1,535,838
Liabilities
Securities sold, not yet purchased, at fair value	210,705	334,251
Securities sold under agreement to repurchase	123,839	228,783
Payable to brokers	203,250	213,360
Compensation payable	27,313	71,223
Short-term borrowings and other debt	4,516	5,650
Fees payable	4,972	5,503
Due to related parties	646	1,914
Accounts payable, accrued expenses and other liabilities	60,405	61,462
Consolidated Funds
Capital withdrawals payable, Consolidated Funds	2,841	394
Accounts payable, accrued expenses and other liabilities, Consolidated Funds	1,042	246
Total Liabilities	639,529	922,786
Commitments and Contingencies (Note X)
Redeemable non-controlling interests	88,011	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	709,005	688,427
(Accumulated deficit) retained earnings	(178,516)	(163,980)
Accumulated other comprehensive income (loss)	161	(215)
Total Stockholders' Equity	503,979	508,465
Liabilities and Stockholders' equity	1,231,519	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, 9,620,151 and 5,346,003 shares as of September 30, 2012 and December 31, 2011, respectively	(27,806)	(16,902)
Common Stock Class B
Stockholders' equity
Common stock	$ 0	$ 0