Consolidated Statements of Financial Condition - USD ($) $ in Thousands		Dec. 31, 2019		Dec. 31, 2018
Assets
Cash and cash equivalents		$ 301,123		$ 259,148
Cash collateral pledged		6,563		6,318
Segregated cash		107,328		176,647
Securities owned, at fair value ($112,451 and $57,583 were pledged to various parties)		1,633,552		520,888
Receivable on derivative contracts, at fair value		62,977		25,125
Securities borrowed		754,441		407,795
Other investments ($125,240 and $123,241 at fair value, respectively)		185,722		181,407
Deposits with clearing organizations, brokers and banks		91,755		89,423
Receivable from brokers, dealers and clearing organizations, net of allowance of $721 and $472, respectively		681,695		786,113
Receivable from customers, net of allowance of $650 and $516, respectively		105,647		37,858
Fees receivable, net of allowance of $2,620 and $1,569, respectively		126,358		111,946
Due from related parties		26,749		33,870
Fixed assets, net of accumulated depreciation and amortization of $32,846 and $31,630, respectively		33,661		26,443
Operating right of use assets		92,852		0
Goodwill		137,728		60,678
Intangible assets, net of accumulated amortization of $26,395 and $38,093, respectively		35,200		24,943
Deferred tax asset, net		79,166		93,057
Other assets		84,158		79,014
Consolidated Funds
Cash and cash equivalents, Consolidated Funds		30,874		38,118
Securities owned, at fair value		375,278		187,633
Receivable on derivative contracts, at fair value		5,833		4,416
Other Investments, Consolidated Funds		175,769		186,395
Receivable from brokers, Consolidated Funds		25,964		8,328
Other assets, Consolidated Funds		1,632		740
Total Assets		5,162,025		3,346,303
Liabilities
Securities sold, not yet purchased, at fair value		451,836		195,307
Securities Sold under Agreements to Repurchase		23,244		0
Payable for derivative contracts, at fair value		60,761		16,082
Securities Loaned		1,601,866		414,852
Payables to brokers, dealers and clearing organizations		271,018		228,731
Payable to customers		430,224		525,153
Commission management payable		71,620		95,270
Compensation payable		223,139		226,971
Operating lease liabilities		97,581		0
Notes payable and other debt		345,451	[1]	262,965
Convertible debt	[2]	118,688		134,489
Fees payable		21,540		22,565
Due to related parties		1		571
Accounts payable, accrued expenses and other liabilities		141,556		110,423
Consolidated Funds
Due to related parties		581		0
Payable for derivative contracts, at fair value		4,769		1,663
Payable to brokers		864		23,521
Capital withdrawals payable		1,276		11,106
Accounts payable, accrued expenses and other liabilities		560		424
Total Liabilities		3,866,575		2,270,093
Commitments and Contingencies
Commitments and Contingencies (Note 22)		391,275		216,923
Stockholders' equity
Additional paid-in capital		1,110,635		1,062,877
(Accumulated deficit) retained earnings		(16,809)		(34,648)
Accumulated other comprehensive income (loss)		(5)		(5)
Less: Class A common stock held in treasury, at cost, 18,605,581 and 15,336,871 shares as of December 31, 2019 and December 31, 2018, respectively.		(284,300)		(234,100)
Cowen Inc. Stockholders' Equity		809,855		794,407
Nonredeemable non-controlling interests		94,320		64,880
Permanent Equity		904,175		859,287
Total Liabilities and Stockholders' Equity		5,162,025		3,346,303
Convertible Preferred Stock
Stockholders' equity
Preferred stock		1		1
Common Stock Class A
Stockholders' equity
Common stock		334		324
Less: Class A common stock held in treasury, at cost, 18,605,581 and 15,336,871 shares as of December 31, 2019 and December 31, 2018, respectively.		(284,301)		(234,142)
Permanent Equity		904,175		859,287
Common Stock Class B
Stockholders' equity
Common stock		$ 0		$ 0

[1] The carrying amount of the notes payable and other debt includes an unamortized premium of $0.5 million as of December 31, 2019.

[2] The carrying amount of the convertible debt includes an unamortized discount of $14.9 million and $19.5 million as of December 31, 2019 and 2018, respectively.