Consolidated Statements of Financial Condition - USD ($)		Mar. 31, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents		$ 1,147,531,000	$ 645,169,000
Cash collateral pledged		110,303,000	110,743,000
Segregated cash		168,942,000	185,141,000
Securities owned, at fair value ($2,042,776 and $1,218,947 were pledged to various parties)		3,156,100,000	2,001,602,000
Securities Purchased under Agreements to Resell		0	191,000
Receivable on derivative contracts, at fair value		95,536,000	51,482,000
Securities borrowed		1,996,757,000	1,908,187,000
Other investments ($151,933 and $133,454 at fair value, respectively)		366,783,000	255,027,000
Deposits with clearing organizations, brokers and banks		82,078,000	104,952,000
Receivable from brokers, dealers and clearing organizations, net of allowance of $640 and $885, respectively		1,920,753,000	1,729,744,000
Receivable from customers, net of allowance of $758 and $530, respectively		199,668,000	103,963,000
Fees receivable, net of allowance of $2,982 and $3,348, respectively		208,898,000	160,349,000
Due from related parties		20,921,000	21,068,000
Fixed assets, net of accumulated depreciation and amortization of $42,681 and $40,670, respectively		31,424,000	33,023,000
Operating lease right-of-use assets		77,268,000	78,241,000
Goodwill		147,084,000	147,084,000
Intangible assets, net of accumulated amortization of $27,073 and $37,884, respectively		28,116,000	24,403,000
Deferred tax asset, net		1,757,000	9,030,000
Other assets		76,921,000	54,884,000
Consolidated Funds
Cash and cash equivalents, Consolidated Funds		935,000	417,000
Securities owned, at fair value		8,940,000	10,622,000
Other Investments, Consolidated Funds		100,035,000	192,670,000
Other assets, Consolidated Funds		46,000	207,000
Total Assets		9,946,796,000	7,828,199,000
Liabilities
Securities sold, not yet purchased, at fair value		931,082,000	728,115,000
Securities Sold under Agreements to Repurchase		2,546,000	5,036,000
Payable for derivative contracts, at fair value		52,125,000	76,160,000
Securities Loaned		3,083,945,000	2,476,414,000
Payables to brokers, dealers and clearing organizations		488,471,000	415,143,000
Payable to customers		2,657,600,000	1,680,326,000
Commission management payable		139,621,000	116,987,000
Compensation payable		361,793,000	373,339,000
Operating lease liabilities		81,400,000	82,735,000
Notes payable and other debt	[1]	542,519,000	383,067,000
Convertible debt	[2]	81,682,000	80,808,000
Fees payable		42,915,000	43,833,000
Due to related parties		99,000	51,000
Accounts payable, accrued expenses and other liabilities		240,790,000	196,479,000
Consolidated Funds
Due to related parties		9,000	7,000
Accounts payable, accrued expenses and other liabilities		219,000	578,000
Total Liabilities		8,706,816,000	6,659,078,000
Commitments and Contingencies
Redeemable non-controlling interests in consolidated subsidiaries and funds		0	0
Stockholders' equity
Additional paid-in capital		1,151,377,000	1,130,138,000
(Accumulated deficit) retained earnings		328,930,000	185,901,000
Accumulated other comprehensive income (loss)		(3,000)	(7,000)
Less: Class A common stock held in treasury, at cost, 23,375,473 and 22,619,863 shares as of March 31, 2021 and December 31, 2020, respectively.		(373,800,000)	(346,900,000)
Cowen Inc. Stockholders' Equity		1,106,865,000	969,497,000
Nonredeemable non-controlling interests		133,115,000	199,624,000
Permanent Equity		1,239,980,000	1,169,121,000
Total Liabilities and Stockholders' Equity		9,946,796,000	7,828,199,000
Portfolio Funds
Assets
Other investments ($151,933 and $133,454 at fair value, respectively)	[3]	151,933,000	133,454,000
Consolidated Funds
Other Investments, Consolidated Funds	[3]	100,035,000	192,670,000
Convertible Preferred Stock
Stockholders' equity
Preferred stock		1,000	1,000
Common Stock Class A
Stockholders' equity
Common stock		334,000	334,000
Less: Class A common stock held in treasury, at cost, 23,375,473 and 22,619,863 shares as of March 31, 2021 and December 31, 2020, respectively.		(373,774,000)	(346,870,000)
Common Stock Class B
Stockholders' equity
Common stock		$ 0	$ 0

[1] The carrying amount of the notes payable and other debt includes an unamortized discount and unamortized premium of $1.5 million and $0.3 million as of March 31, 2021, respectively and unamortized premium of $0.4 million as of December 31, 2020

[2] The carrying amount of the convertible debt includes an unamortized discount of $5.8 million and $6.7 million as of March 31, 2021 and December 31, 2020, respectively.

[3] In accordance with US GAAP, portfolio funds are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient are not classified in the fair value hierarchy. Carried interest and equity method investments presented in the table above are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the condensed consolidated statement of financial condition.