Due from/to brokers (Tables)

6 Months Ended

Jun. 30, 2017

Due to and from Broker-Dealers and Clearing Organizations [Abstract]

Schedule of Due to (from) Brokers

As of June 30, 2017 and December 31, 2016, the Company’s due from/to brokers were comprised of the following:

	June 30, 2017		December 31, 2016
	($ in thousands)
Due from brokers
Cash held at brokers	$	343,940	$	240,205
Receivable from unsettled trades (1)	80,223		44,386
	$	424,163	$	284,591
Due to brokers
Borrowing from prime brokers (2)	$	696,336	$	855,576
Payable from unsettled trades	80,843		44,025
	$	777,179	$	899,601

(1) Receivables relating to securities sold by the Company are recorded as receivable from unsettled trades in due from brokers in the Company’s condensed consolidated balance sheets. During the year ended December 31, 2015, the Company’s investment manager, Third Point LLC, exercised appraisal rights relating to an underlying investment, which was bought by a private equity firm. As of December 31, 2016, $37.6 million was included in receivable from unsettled trades in due from brokers while the Company awaited the court decision regarding the sale price. In the second quarter of 2017, the court decision resulted in the Company receiving the total value of $37.6 million as well as interest of $4.4 million for the trial period.

(2) As of June 30, 2017, the Company’s borrowing from prime brokers includes a total non-U.S. currency balance of $261.2 million (December 31, 2016 - $22.0 million).