Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income (loss)	$ (19,897)	$ 24,048
Adjustments to reconcile net income (loss) to net cash provided by / (used in) operating activities:
Depreciation and amortization	9,654	6,584
Net gain on sale of divested business	(15,638)	0
Amortization of Debt Issue Costs	894	0
Amortization of debt discount	5,107	4,674
Tax benefits from share based payment arrangements	(764)	3,714
Share-based compensation	19,271	16,211
Deferred tax benefit	(6,913)	(2,050)
Deferred rent obligations	(634)	(2,113)
Net loss on disposal of fixed assets	0	54
Contingent liability adjustment	2,139	0
Purchases of securities owned, at fair value	(3,050,670)	(4,650,626)
Proceeds from sales of securities owned, at fair value	3,173,147	4,556,647
Proceeds from sales of securities sold, not yet purchased, at fair value	2,343,063	2,003,879
Payments to cover securities sold, not yet purchased, at fair value	(2,442,968)	(1,940,343)
Net (gains) losses on securities, derivatives and other investments	(23,706)	(32,719)
Consolidated Funds
Purchases of securities owned, at fair value	(60,187)	(12,000)
Proceeds from sales of securities owned, at fair value	27,010	0
Proceeds from sales of securities sold, not yet purchased, at fair value	2,226	0
Payments to cover securities sold, not yet purchased, at fair value	(1,098)	0
Purchases of other investments	(221,897)	(78,491)
Proceeds from sales of other investments	14,086	18,722
Net realized and unrealized (gains) losses on investments and other transactions	(4,505)	(6,749)
(Increase) decrease in operating assets:
Cash collateral pledged	(3,698)	(823)
Securities owned, at fair value, held at broker dealer	(26,048)	20,696
Receivable on derivative contracts, at fair value	12,191	8,290
Securities borrowed	0	676,100
Receivable from brokers	40,126	(26,744)
Fees receivable, net of allowance	(12,536)	(6,952)
Due from related parties	6,914	106
Other assets	(23,446)	(919)
Consolidated Funds
Cash and cash equivalents	3,564	(16,124)
Receivable on derivative contracts	(429)	0
Receivable from Brokers	(5,333)	0
Other assets	(336)	780
Increase (decrease) in operating liabilities:
Securities sold, not yet purchased, at fair value, held at broker dealer	21,954	(7,134)
Payable for derivative contracts, at fair value	(4,162)	(15,252)
Securities loaned	0	(682,493)
Payable to brokers	(4,573)	(7,010)
Compensation payable	(99,217)	(41,628)
Fees payable	999	12,965
Due to related parties	(72)	(154)
Accounts payable, accrued expenses and other liabilities	3,863	(7,746)
Consolidated Funds
Contributions received in advance	(850)	5,000
Payable to brokers	3,131	0
Payable for derivative contracts, at fair value	276	0
Due to related parties	264	1,000
Accounts payable, accrued expenses and other liabilities	286	67
Net cash provided by / (used in) operating activities	(339,412)	(178,533)
Cash flows from investing activities:
Purchases of other investments	(25,689)	(10,259)
Purchase of business Net of Cash Acquired	(6,258)	(14,936)
Proceeds from sales of other investments	29,814	37,368
Proceeds from loans held for investments	41,600	0
Proceeds from Divestiture of Businesses, Net of Cash Divested	17,303	0
Purchase of fixed assets	(14,913)	(5,191)
Net cash provided by / (used in) investing activities	41,857	6,982
Cash flows from financing activities:
Proceeds from Issuance of Preferred Stock, net of issuance costs	0	117,194
Capped call option transaction	0	15,879
Borrowings on notes and other debt	30,638	2,140
Repayments on notes and other debt	(28,345)	(2,655)
Income tax effect from share-based payment arrangements	(764)	3,714
Proceeds from Stock Options Exercised	0	395
Purchase of treasury stock	(6,014)	(41,697)
Cash paid to acquire net assets (contingent liability payment)	(2,358)	(1,725)
Capital contributions by redeemable non-controlling interests in operating entities	0	5,644
Capital withdrawals to redeemable non-controlling interests in operating entities	(6,995)	(8,203)
Consolidated Funds
Capital contributions by redeemable non-controlling interests in Consolidated Funds	236,720	83,097
Capital withdrawals to redeemable non-controlling interests in Consolidated Funds	(6,887)	(7,129)
Net cash provided by / (used in) financing activities	215,995	134,896
Change in cash and cash equivalents	(81,560)	(36,655)
Cash and cash equivalents at beginning of period	158,485	129,509
Cash and cash equivalents at end of period	76,925	92,854
Supplemental information
Purchase of treasury stock, at cost, through net settlement (see Note 14)	8,793	8,556
Notes payable increase through asset acquisition	7,164	0
Preferred stock dividends declared (See Note 14)	5,094	2,358
Net assets (liabilities) acquired upon acquisition (net of cash) (See Note 2)	0	(11,688)
Common stock issuance upon close of acquisition (see Note 2)	$ 0	$ 3,008