Consolidated Statements of Financial Condition (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Assets
Cash and cash equivalents	$ 83,538	$ 128,875
Cash collateral pledged	9,160	9,785
Securities owned, at fair value	624,127	744,914
Securities purchased under agreements to resell	0	166,260
Securities Borrowed	408,096	0
Other investments	84,930	59,943
Receivable from brokers	71,306	56,028
Fees receivable, net of allowance	34,707	28,315
Due from related parties	21,022	17,452
Fixed assets, net of accumulated depreciation and amortization of $30,003 and $23,852, respectively	32,202	37,042
Goodwill, Net	28,545	20,028
Intangible assets, net of accumulated amortization of $22,945 and $20,220, respectively	12,984	5,760
Other assets	16,278	25,722
Consolidated Funds
Cash and cash equivalents, Consolidated Funds	3,559	297
Securities owned, at fair value, Consolidated Funds	3,525	6,334
Other investments, at fair value, Consolidated Funds	204,205	228,820
Other assets, Consolidated Funds	292	263
Total Assets	1,638,476	1,535,838
Liabilities
Securities sold, not yet purchased, at fair value	177,937	334,251
Securities sold under agreement to repurchase	165,945	228,783
Securities Loaned	410,441	0
Payable to brokers	188,788	213,360
Compensation payable	45,752	71,223
Short-term borrowings and other debt	4,132	5,650
Fees payable	5,277	6,206
Due to related parties	662	1,914
Accounts payable, accrued expenses and other liabilities	55,425	60,759
Consolidated Funds
Capital withdrawals payable, Consolidated Funds	2,891	394
Accounts payable, accrued expenses and other liabilities, Consolidated Funds	414	246
Total Liabilities	1,057,664	922,786
Commitments and Contingencies (Note 19)
Redeemable non-controlling interests	85,703	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	713,211	688,427
(Accumulated deficit) retained earnings	(187,865)	(163,980)
Accumulated other comprehensive income (loss)	356	(215)
Total Stockholders' Equity	495,109	508,465
Total Liabilities and Stockholders' equity	1,638,476	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, 11,292,220 and 5,346,003 shares as of December 31, 2012 and December 31, 2011, respectively	(31,728)	(16,902)
Common Stock Class B
Stockholders' equity
Common stock	$ 0	$ 0