Consolidated Statements of Financial Condition - USD ($) $ in Thousands		Mar. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents		$ 270,079	$ 301,123
Cash collateral pledged		7,538	6,563
Segregated cash		131,266	107,328
Securities owned, at fair value ($200,278 and $941,595 were pledged to various parties)		776,046	1,633,552
Receivable on derivative contracts, at fair value		83,867	62,977
Securities borrowed		971,430	754,441
Other investments ($113,627 and $114,504 at fair value, respectively)		163,274	185,722
Deposits with clearing organizations, brokers and banks		131,948	91,755
Receivable from brokers, dealers and clearing organizations, net of allowance of $792 and $721, respectively		773,317	681,695
Receivable from customers, net of allowance of $675 and $650, respectively		193,009	105,647
Fees receivable, net of allowance of $2,364 and $2,620, respectively		157,081	126,358
Due from related parties		24,802	26,749
Fixed assets, net of accumulated depreciation and amortization of $34,942 and $32,846, respectively		33,909	33,661
Operating right of use assets		88,306	92,852
Goodwill		137,728	137,728
Intangible assets, net of accumulated amortization of $29,528 and $26,395, respectively		31,989	35,200
Deferred tax asset, net		80,848	79,166
Other assets		91,026	84,158
Consolidated Funds
Cash and cash equivalents, Consolidated Funds		39,721	30,874
Securities owned, at fair value		355,496	375,278
Receivable on derivative contracts, at fair value		17,292	5,833
Other Investments, Consolidated Funds		149,689	175,769
Receivable from brokers, Consolidated Funds		20,668	25,964
Other assets, Consolidated Funds		1,722	1,632
Total Assets		4,732,051	5,162,025
Liabilities
Securities sold, not yet purchased, at fair value		527,471	451,836
Securities Sold under Agreements to Repurchase		57,420	23,244
Payable for derivative contracts, at fair value		72,385	60,761
Securities Loaned		997,794	1,601,866
Payables to brokers, dealers and clearing organizations		330,096	271,018
Payable to customers		488,814	430,224
Commission management payable		112,688	71,620
Compensation payable		69,631	223,139
Operating lease liabilities		91,835	97,581
Notes payable and other debt	[1]	407,531	345,451
Convertible debt	[2]	119,929	118,688
Fees payable		21,162	21,540
Accounts payable, accrued expenses and other liabilities		164,540	141,557
Consolidated Funds
Due to related parties		0	581
Payable for derivative contracts, at fair value		18,066	4,769
Payable to brokers		1,263	864
Capital withdrawals payable		9,290	1,276
Accounts payable, accrued expenses and other liabilities		1,091	560
Total Liabilities		3,491,006	3,866,575
Commitments and Contingencies
Commitments and Contingencies (Note 16)		318,001	391,275
Stockholders' equity
Additional paid-in capital		1,119,534	1,110,635
(Accumulated deficit) retained earnings		(29,869)	(16,809)
Accumulated other comprehensive income (loss)		(5)	(5)
Less: Class A common stock held in treasury, at cost, 20,220,846 and 18,605,581 shares as of March 31, 2020 and December 31, 2019, respectively.		(305,200)	(284,300)
Cowen Inc. Stockholders' Equity		784,803	809,855
Nonredeemable non-controlling interests		138,241	94,320
Permanent Equity		923,044	904,175
Total Liabilities and Stockholders' Equity		4,732,051	5,162,025
Convertible Preferred Stock
Stockholders' equity
Preferred stock		1	1
Common Stock Class A
Stockholders' equity
Common stock		334	334
Less: Class A common stock held in treasury, at cost, 20,220,846 and 18,605,581 shares as of March 31, 2020 and December 31, 2019, respectively.		(305,192)	(284,301)
Permanent Equity		923,044	904,175
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 $0.4 million and $0.5 million as of March 31, 2020 and December 31, 2019, respectively.

[2] The carrying amount of the convertible debt includes an unamortized discount of $13.7 million and $14.9 million as of March 31, 2020 and December 31, 2019, respectively.