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Segment Reporting (Details)
3 Months Ended 12 Months Ended
Dec. 31, 2017
USD ($)
Sep. 30, 2017
USD ($)
Jun. 30, 2017
USD ($)
Mar. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Sep. 30, 2016
USD ($)
Jun. 30, 2016
USD ($)
Mar. 31, 2016
USD ($)
Dec. 31, 2017
USD ($)
segment
customer
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Segment Reporting Information [Line Items]                      
Entity-Wide Revenue, Major Customer, Number | customer                 0    
Number of Operating Segments | segment                 2    
Revenues                      
Investment banking                 $ 223,614,000 $ 133,279,000 $ 222,781,000
Brokerage                 293,610,000 199,180,000 157,722,000
Management fees                 33,245,000 40,612,000 41,906,000
Incentive income                 5,383,000 8,334,000 1,466,000
Investment Income                 0 0 0
Interest and dividends                 49,440,000 14,732,000 13,796,000
Aircraft lease revenue                 3,751,000 4,161,000 0
Reimbursement from affiliates                 2,860,000 10,504,000 21,557,000
Reinsurance premiums                 30,996,000 32,459,000 0
Other revenue                 8,561,000 22,355,000 3,726,000
Total revenues $ 204,450,000 $ 178,830,000 $ 160,530,000 $ 114,971,000 $ 122,268,000 $ 131,027,000 $ 117,231,000 $ 101,039,000 658,781,000 471,565,000 464,567,000
Expenses                      
Non-interest expense                 684,123,000 508,746,000 475,844,000
Interest and dividends                 60,949,000 29,308,000 26,220,000
Total expenses                 757,598,000 547,118,000 504,374,000
Other income (loss)                      
Total other income (loss)                 105,779,000 44,066,000 51,286,000
Income tax expense (benefit) 40,646,000 2,281,000 (785,000) 1,911,000 (12,539,000) 8,759,000 (11,992,000) (3,320,000) 44,053,000 (19,092,000) (47,496,000)
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries and funds                 (23,791,000) (6,882,000) (15,246,000)
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc. $ (75,972,000) $ 4,666,000 $ 7,440,000 $ 2,984,000 $ (1,904,000) $ (3,219,000) $ (10,456,000) $ (3,698,000) (60,882,000) (19,277,000) 43,729,000
Consolidated Funds                      
Revenues                      
Total revenues                 7,321,000 5,949,000 1,613,000
Expenses                      
Total expenses                 12,526,000 9,064,000 2,310,000
Operating Segments                      
Revenues                      
Investment banking                 223,614,000 133,279,000 222,781,000
Brokerage                 312,780,000 207,040,000 160,436,000
Management fees                 55,387,000 67,248,000 70,015,000
Incentive income                 26,028,000 26,274,000 (1,544,000)
Investment Income                 45,142,000 4,023,000 62,596,000
Interest and dividends                 0 0 0
Aircraft lease revenue                 0 0  
Reimbursement from affiliates                 0 0 0
Reinsurance premiums                 0 0 15,382,000
Other revenue                 3,231,000 29,767,000  
Total revenues                 666,182,000 467,631,000 529,666,000
Expenses                      
Non-interest expense                 625,387,000 471,351,000 469,754,000
Interest and dividends                 18,888,000 17,190,000 16,584,000
Total expenses                 644,275,000 488,541,000 486,338,000
Other income (loss)                      
Total other income (loss)                 0 0 0
Income tax expense (benefit)                 0 0 0
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries and funds                 (6,072,000) (7,821,000) (8,796,000)
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc.                 15,835,000 (28,731,000) 34,532,000
Operating Segments | Consolidated Funds                      
Revenues                      
Other revenue                     0
Total revenues                 0 0  
Expenses                      
Total expenses                 0 0 0
Operating Segments | Investment Management                      
Revenues                      
Investment banking                 0 0 0
Brokerage                 38,000 0 0
Management fees                 52,239,000 64,086,000 68,989,000
Incentive income                 26,028,000 26,274,000 (1,544,000)
Investment Income                 31,447,000 3,015,000 49,244,000
Interest and dividends                 0 0 0
Aircraft lease revenue                 0 0  
Reimbursement from affiliates                 0 0 0
Reinsurance premiums                 0 0 14,492,000
Other revenue                 1,575,000 29,202,000  
Total revenues                 111,327,000 122,577,000 131,181,000
Expenses                      
Non-interest expense                 92,567,000 102,163,000 107,291,000
Interest and dividends                 14,268,000 12,827,000 11,839,000
Total expenses                 106,835,000 114,990,000 119,130,000
Other income (loss)                      
Total other income (loss)                 0 0 0
Income tax expense (benefit)                 0 0 0
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries and funds                 (6,072,000) (7,821,000) (8,796,000)
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc.                 (1,580,000) (234,000) 3,255,000
Operating Segments | Investment Management | Consolidated Funds                      
Revenues                      
Other revenue                     0
Total revenues                 0 0  
Expenses                      
Total expenses                 0 0 0
Operating Segments | Broker-Dealer                      
Revenues                      
Investment banking                 223,614,000 133,279,000 222,781,000
Brokerage                 312,742,000 207,040,000 160,436,000
Management fees                 3,148,000 3,162,000 1,026,000
Incentive income                 0 0 0
Investment Income                 13,695,000 1,008,000 13,352,000
Interest and dividends                 0 0 0
Aircraft lease revenue                 0 0  
Reimbursement from affiliates                 0 0 0
Reinsurance premiums                 0 0 890,000
Other revenue                 1,656,000 565,000  
Total revenues                 554,855,000 345,054,000 398,485,000
Expenses                      
Non-interest expense                 532,820,000 369,188,000 362,463,000
Interest and dividends                 4,620,000 4,363,000 4,745,000
Total expenses                 537,440,000 373,551,000 367,208,000
Other income (loss)                      
Total other income (loss)                 0 0 0
Income tax expense (benefit)                 0 0 0
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries and funds                 0 0 0
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc.                 17,415,000 (28,497,000) 31,277,000
Operating Segments | Broker-Dealer | Consolidated Funds                      
Revenues                      
Other revenue                     0
Total revenues                 0 0  
Expenses                      
Total expenses                 0 0 0
Adjustments | Funds Consolidation                      
Revenues                      
Investment banking                 0 0 0
Brokerage                 0 0 0
Management fees                 (2,593,000) (1,665,000) (1,307,000)
Incentive income                 (1,739,000) (714,000) (736,000)
Investment Income                 0 0 0
Interest and dividends                 0 0 0
Aircraft lease revenue                 0 0  
Reimbursement from affiliates                 (297,000) (303,000) (190,000)
Reinsurance premiums                 0 0  
Other revenue                 0 0 0
Total revenues                 2,692,000 3,267,000 (620,000)
Expenses                      
Non-interest expense                 (199,000) (429,000) 0
Interest and dividends                 0 0 0
Total expenses                 12,327,000 8,635,000 2,310,000
Other income (loss)                      
Total other income (loss)                 31,073,000 8,532,000 8,781,000
Income tax expense (benefit)                 0 0 0
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries and funds                 (21,438,000) (3,164,000) (5,851,000)
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc.                 0 0 0
Adjustments | Funds Consolidation | Consolidated Funds                      
Revenues                      
Total revenues                 7,321,000 5,949,000 1,613,000
Expenses                      
Total expenses                 12,526,000 9,064,000 2,310,000
Adjustments | Other Adjustments                      
Revenues                      
Investment banking                 0 0 0
Brokerage                 (19,170,000) [1] (7,860,000) [1] (2,714,000)
Management fees [2]                 (19,549,000) (24,971,000) (26,802,000)
Incentive income [2]                 (18,906,000) (17,226,000) 3,746,000
Investment Income [4]                 (45,142,000) [3] (4,023,000) [3] (62,596,000)
Interest and dividends [4]                 49,440,000 14,732,000 13,796,000
Aircraft lease revenue [3]                 3,751,000 4,161,000  
Reimbursement from affiliates [5]                 3,157,000 10,807,000 21,747,000
Reinsurance premiums [6]                 30,996,000 32,459,000  
Other revenue                 5,330,000 [6] (7,412,000) [6] (11,656,000) [4]
Total revenues                 (10,093,000) 667,000 (64,479,000)
Expenses                      
Non-interest expense [7],[8]                 58,935,000 37,824,000 6,090,000 [4]
Interest and dividends [4]                 42,061,000 12,118,000 9,636,000
Total expenses                 100,996,000 49,942,000 15,726,000
Other income (loss)                      
Total other income (loss)                 74,706,000 [1],[9],[10] 35,534,000 [4] 42,505,000 [4]
Income tax expense (benefit) [7]                 44,053,000 (19,092,000) (47,496,000)
(Income) loss attributable to redeemable non-controlling interests in consolidated subsidiaries and funds                 3,719,000 4,103,000 (599,000)
Economic Income (Loss) / Net income (loss) attributable to Cowen Group, Inc.                 (76,717,000) 9,454,000 9,197,000
Adjustments | Other Adjustments | Consolidated Funds                      
Revenues                      
Total revenues                 0 0 0
Expenses                      
Total expenses                 $ 0 $ 0 $ 0
[1] Economic Income (Loss) brokerage revenues included net securities borrowed and securities loaned activities.
[2] Economic Income (Loss) recognizes revenues (i) net of distribution fees paid to agents and (ii) our proportionate share of management and incentive fees of certain real estate operating entities, the healthcare royalty business and the activist business.
[3] Aircraft lease revenue is shown net of expenses in investment income for Economic Income (Loss).
[4] Economic Income (Loss) recognizes Company income from proprietary trading (including interest and dividends).
[5] Reimbursement from affiliates is shown as a reduction of Economic Income expenses, but is included as a part of revenues under US GAAP.
[6] Economic Income (Loss) recognizes underwriting income from the Company's insurance related activities, net of expenses, within other revenue.
[7] Economic Income (Loss) excludes income taxes and acquisition related adjustments as management does not consider these items when evaluating the performance of the segment.
[8] Economic Income (Loss) recognizes the Company's proportionate share of expenses, for certain real estate operating entities and the activist business, for which the investments are recorded under the equity method of accounting for investments.
[9] Economic Income (Loss) excludes gain / (loss) on debt extinguishment.
[10] Economic Income (Loss) excludes the bargain purchase gain which resulted from the Convergex Group acquisition.