Cohen & Steers (CNS) 10-Q6 Aug 212021 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Jun. 30, 2021	Aug. 02, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-32236
Entity Registrant Name	COHEN & STEERS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	14-1904657
Entity Address, Address Line One	280 Park Avenue,
Entity Address, State or Province	NY
Entity Address, City or Town	New York
Entity Address, Postal Zip Code	10017
City Area Code	212
Local Phone Number	832-3232
Title of 12(b) Security	Common Stock
Trading Symbol	CNS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		48,249,606
Entity Central Index Key	0001284812
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020
Assets
Cash and cash equivalents		$ 111,229	$ 41,232
Investments ($100,900 and $80,743)	[1]	138,171	154,978
Accounts receivable		78,752	69,680
Due from brokers ($2,611 and $223)	[1]	7,214	5,125
Property and equipment—net		9,040	10,341
Operating lease right-of-use assets—net		26,082	31,203
Goodwill and intangible assets—net		20,146	20,495
Other assets ($540 and $637)	[1]	12,535	15,399
Total assets		403,169	348,453
Liabilities:
Accrued compensation and benefits		42,940	56,384
Distribution and service fees payable		10,237	7,748
Operating lease liabilities		29,202	34,926
Income tax payable		15,542	12,672
Due to brokers ($3,105 and $128)	[1]	3,403	501
Other liabilities and accrued expenses ($184 and $326)	[1]	9,876	11,318
Total liabilities		111,200	123,549
Commitments and contingencies
Redeemable noncontrolling interests		66,081	50,665
Stockholders’ equity:
Common stock, $0.01 par value; 500,000,000 shares authorized; 54,230,611 and 53,462,621 shares issued at June 30, 2021 and December 31, 2020 respectively		542	535
Additional paid-in capital		692,719	670,142
Accumulated deficit		(240,744)	(291,542)
Accumulated other comprehensive loss, net of tax		(4,530)	(4,134)
Less: Treasury stock, at cost, 5,984,617 and 5,674,510 shares at June 30, 2021 and December 31, 2020, respectively		(222,099)	(200,762)
Total stockholders’ equity		225,888	174,239
Total liabilities and stockholders’ equity		$ 403,169	$ 348,453

[1]	Asset and liability amounts in parentheses represent the aggregated balances at June 30, 2021 and December 31, 2020 attributable to variable interest entities consolidated by the Company. Refer to Note 4 for further discussion.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Financial Condition - (Parenthetical) (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020
Investments ($100,900 and $80,743)	[1]	$ 138,171	$ 154,978
Other Assets	[1]	12,535	15,399
Due to brokers ($3,105 and $128)	[1]	3,403	501
Other liabilities and accrued expenses	[1]	$ 9,876	$ 11,318
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares authorized (in shares)		500,000,000	500,000,000
Common stock, shares issued (in shares)		54,230,611	53,462,621
Treasury stock, shares (in shares)		5,984,617	5,674,510
GLI SICAV, GRP-CIP, SICAV GRE and SICAV RAP
Investments ($100,900 and $80,743)		$ 100,900	$ 80,743
Due from broker		2,611	223
Other Assets		540	637
Due to brokers ($3,105 and $128)		3,105	128
Other liabilities and accrued expenses		$ 184	$ 326

[1]	Asset and liability amounts in parentheses represent the aggregated balances at June 30, 2021 and December 31, 2020 attributable to variable interest entities consolidated by the Company. Refer to Note 4 for further discussion.

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenue:
Total revenue	$ 144,269	$ 94,087	$ 270,016	$ 199,917
Expenses:
Employee compensation and benefits	53,241	34,320	99,003	72,937
Distribution and service fees	18,848	12,518	35,354	26,622
General and administrative	11,466	10,726	21,840	34,314
Depreciation, Depletion and Amortization	1,017	1,228	2,184	2,380
Total expenses	84,572	58,792	158,381	136,253
Operating income	59,697	35,295	111,635	63,664
Non-operating income:
Interest and dividend income—net	837	893	1,453	2,042
Gain (loss) from investments—net	7,778	7,317	12,337	(14,710)
Foreign currency gain (loss)—net	(79)	(257)	(301)	778
Total non-operating income (loss)	8,536	7,953	13,489	(11,890)
Income before provision for income taxes	68,233	43,248	125,124	51,774
Provision for income taxes	15,827	11,086	20,288	11,544
Net income	52,406	32,162	104,836	40,230
Less: Net (income) loss attributable to redeemable noncontrolling interests	(5,827)	(3,642)	(9,405)	8,862
Net income attributable to common stockholders	$ 46,579	$ 28,520	$ 95,431	$ 49,092
Earnings per share attributable to common stockholders:
Basic (in dollars per share)	$ 0.96	$ 0.60	$ 1.98	$ 1.03
Diluted (in dollars per share)	0.95	0.59	1.95	1.01
Dividends declared per share (in dollars per share)	$ 0.45	$ 0.39	$ 0.90	$ 0.78
Weighted average shares outstanding:
Basic (shares)	48,285	47,826	48,216	47,739
Diluted (shares)	48,951	48,572	48,831	48,549
Investment advisory and administration fees
Revenue:
Total revenue	$ 134,348	$ 86,648	$ 251,269	$ 183,937
Distribution and service fees
Revenue:
Total revenue	9,199	6,930	17,471	14,713
Other
Revenue:
Total revenue	$ 722	$ 509	$ 1,276	$ 1,267

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 52,406	$ 32,162	$ 104,836	$ 40,230
Less: Net (income) loss attributable to redeemable noncontrolling interests	(5,827)	(3,642)	(9,405)	8,862
Net income attributable to common stockholders	46,579	28,520	95,431	49,092
Foreign currency translation income (loss)	199	404	(396)	(1,096)
Total comprehensive income attributable to common stockholders	$ 46,778	$ 28,924	$ 95,035	$ 47,996

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Changes in Stockholders' Equity and Redeemable Noncontrolling Interest (Unaudited) - USD ($) $ in Thousands	Total	Common stocks	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss), Net of Tax	Treasury Stock	Redeemable Noncontrolling Interests
Beginning balance at Dec. 31, 2019	$ 213,703	$ 527	$ 636,788	$ (242,461)	$ (6,326)	$ (174,825)
Beginning balance (redeemable noncontrolling interest) at Dec. 31, 2019							$ 53,412
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(38,040)			(38,040)
Issuance of common stock	610	8	602
Repurchase of common stock	(25,915)					(25,915)
Issuance of restricted stock units	1,069		1,069
Amortization of restricted stock units	14,151		14,151
Forfeitures of restricted stock units	(31)		(31)
Net Income (Loss) Attributable to Parent	49,092			49,092
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest							(8,862)
Other comprehensive income (loss), net of tax	(1,096)				(1,096)
Net contributions (distributions) attributable to redeemable noncontrolling interests							(1,477)
Ending balance at Jun. 30, 2020	$ 213,543	535	652,579	(231,409)	(7,422)	(200,740)
Ending balance (redeemable noncontrolling interest) at Jun. 30, 2020							43,073
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared per share (in dollars per share)	$ 0.78
Beginning balance at Mar. 31, 2020	$ 195,504	535	644,397	(240,930)	(7,826)	(200,672)
Beginning balance (redeemable noncontrolling interest) at Mar. 31, 2020							41,601
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(18,999)			(18,999)
Issuance of common stock	305	0	305
Repurchase of common stock	(68)					(68)
Issuance of restricted stock units	516		516
Amortization of restricted stock units	7,376		7,376
Forfeitures of restricted stock units	(15)		(15)
Net Income (Loss) Attributable to Parent	28,520			28,520
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest							3,642
Other comprehensive income (loss), net of tax	404				404
Net contributions (distributions) attributable to redeemable noncontrolling interests							(2,170)
Ending balance at Jun. 30, 2020	$ 213,543	535	652,579	(231,409)	(7,422)	(200,740)
Ending balance (redeemable noncontrolling interest) at Jun. 30, 2020							43,073
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared per share (in dollars per share)	$ 0.39
Beginning balance at Dec. 31, 2020	$ 174,239	535	670,142	(291,542)	(4,134)	(200,762)
Beginning balance (redeemable noncontrolling interest) at Dec. 31, 2020							50,665
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(44,633)			(44,633)
Issuance of common stock	741	7	734
Repurchase of common stock	(21,337)					(21,337)
Issuance of restricted stock units	2,433		2,433
Amortization of restricted stock units	19,617		19,617
Forfeitures of restricted stock units	(207)		(207)
Net Income (Loss) Attributable to Parent	95,431			95,431
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest							9,405
Other comprehensive income (loss), net of tax	(396)				(396)
Net contributions (distributions) attributable to redeemable noncontrolling interests							6,011
Ending balance at Jun. 30, 2021	$ 225,888	542	692,719	(240,744)	(4,530)	(222,099)
Ending balance (redeemable noncontrolling interest) at Jun. 30, 2021							66,081
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared per share (in dollars per share)	$ 0.90
Beginning balance at Mar. 31, 2021	$ 189,227	542	680,466	(265,034)	(4,729)	(222,018)
Beginning balance (redeemable noncontrolling interest) at Mar. 31, 2021							62,365
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends	(22,289)			(22,289)
Issuance of common stock	311	0	311
Repurchase of common stock	(81)					(81)
Issuance of restricted stock units	1,640		1,640
Amortization of restricted stock units	10,432		10,432
Forfeitures of restricted stock units	(130)		(130)
Net Income (Loss) Attributable to Parent	46,579			46,579
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest							5,827
Other comprehensive income (loss), net of tax	199				199
Net contributions (distributions) attributable to redeemable noncontrolling interests							(2,111)
Ending balance at Jun. 30, 2021	$ 225,888	$ 542	$ 692,719	$ (240,744)	$ (4,530)	$ (222,099)
Ending balance (redeemable noncontrolling interest) at Jun. 30, 2021							$ 66,081
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends declared per share (in dollars per share)	$ 0.45

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 104,836	$ 40,230
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Stock-based compensation expense—net	20,780	14,561
Depreciation and amortization	8,071	8,142
(Gain) loss from investments—net	(12,337)	14,710
Deferred income taxes	4,138	222
Foreign currency (gain) loss	2,095	(245)
Changes in operating assets and liabilities:
Accounts receivable	(11,167)	7,351
Due from brokers	(2,089)	1,246
Deferred commissions	(740)	(742)
Investments within consolidated Company-sponsored funds	(8,687)	568
Other assets	(116)	(6,549)
Accrued compensation and benefits	(13,444)	(27,576)
Distribution and service fees payable	2,489	159
Operating lease liabilities	(5,724)	(5,633)
Due to brokers	2,902	(304)
Income tax payable	2,863	11,435
Other liabilities and accrued expenses	(3,847)	(1,974)
Net cash provided by (used in) operating activities	90,023	55,601
Cash flows from investing activities:
Purchases of investments	(33,212)	(8,755)
Proceeds from sales and maturities of investments	72,244	6,735
Purchases of property and equipment	(884)	(1,564)
Proceeds from sales of property and equipment	0	73
Net cash provided by (used in) investing activities	38,148	(3,511)
Cash flows from financing activities:
Issuance of common stock—net	629	518
Repurchase of common stock	(21,337)	(25,915)
Dividends to stockholders	(43,458)	(37,310)
Distributions to redeemable noncontrolling interests	(5,381)	(5,322)
Contributions from redeemable noncontrolling interests	11,392	3,845
Net cash provided by (used in) financing activities	(58,155)	(64,184)
Net increase (decrease) in cash and cash equivalents	70,016	(12,094)
Effect of foreign exchange rate changes on cash and cash equivalents	(19)	(1,123)
Cash and cash equivalents, beginning of the period	41,232	101,352
Cash and cash equivalents, end of the period	111,229	88,135
Supplemental Cash Flow Information [Abstract]
Income taxes paid	13,300	2,500
Proceeds from Income tax refunds		2,700
Deferred income tax expense		9,300
Restricted stock unit dividend equivalents, net of forfeitures	$ 1,200	$ 700

Organization and Description of

Organization and Description of Business	6 Months Ended
Organization and Description of Business	Jun. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of BusinessCohen & Steers, Inc. (CNS) was organized as a Delaware corporation on March 17, 2004. CNS is the holding company for its direct and indirect subsidiaries, including Cohen & Steers Capital Management, Inc. (CSCM), Cohen & Steers Securities, LLC (CSS), Cohen & Steers Asia Limited (CSAL), Cohen & Steers UK Limited (CSUK), Cohen & Steers Japan Limited (CSJL) and Cohen & Steers Ireland Limited (CSIL) (collectively, the Company).The Company is a leading global investment manager specializing in real assets and alternative income, including real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the Company is headquartered in New York City, with offices in London, Dublin, Hong Kong and Tokyo.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	6 Months Ended
Basis of Presentation and Significant Accounting Policies	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies	Basis of Presentation and Significant Accounting Policies The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). The condensed consolidated financial statements set forth herein include the accounts of CNS and its direct and indirect subsidiaries. Intercompany balances and transactions have been eliminated in consolidation. The condensed consolidated financial statements of the Company included herein are unaudited and have been prepared in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the interim results have been made. The Company's condensed consolidated financial statements and the related notes should be read together with the consolidated financial statements and the related notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. Recently Adopted Accounting Pronouncements —In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2019-12, Income Taxes (Topic 740) : Simplifying the Accounting for Income Taxes . The standard is intended to simplify various aspects related to income taxes and removes certain exceptions to the general principles in Topic 740. This new guidance became effective on January 1, 2021. The Company's adoption of the new standard did not have a material effect on its condensed consolidated financial statements and related disclosures. Accounting Estimates —The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Management believes the estimates used in preparing the condensed consolidated financial statements are reasonable and prudent. Actual results could differ from those estimates. Reclassifications —The Company reclassified certain prior period amounts to conform with the current period presentation, primarily related to accrued employee benefits which were reclassified from other liabilities and accrued expenses to accrued compensation and benefits on the Company's condensed consolidated statements of financial condition. Consolidation of Company-sponsored Funds —Investments in Company-sponsored funds and management fees are evaluated at inception and thereafter, if there is a reconsideration event, in order to determine whether to apply the Variable Interest Entity (VIE) model or the Voting Interest Entity (VOE) model. In performing this analysis, all of the Company's management fees are presumed to be commensurate and at market and are therefore not considered variable interests. A VIE is an entity in which either (i) the equity investment at risk is not sufficient to permit the entity to finance its own activities without additional financial support or (ii) the group of holders of the equity investment at risk lack certain characteristics of a controlling financial interest. The primary beneficiary is the entity that has (i) the power to direct the activities of the VIE that most significantly affect its performance, and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. Subscriptions and redemptions or amendments to the governing documents of the respective entities could affect an entity's status as a VIE or the determination of the primary beneficiary. The Company assesses whether it is the primary beneficiary of any VIEs identified by evaluating its economic interests in the entity held either directly by the Company and its affiliates or indirectly through employees. VIEs for which the Company is deemed to be the primary beneficiary are consolidated. Investments in Company-sponsored funds that are determined to be VOEs are consolidated when the Company's ownership interest is greater than 50% of the outstanding voting interests of the fund or when the Company is the general partner of the fund and the limited partners do not have substantive kick-out or participating rights in the fund. The Company records noncontrolling interests in consolidated Company-sponsored funds for which the Company's ownership is less than 100%. Cash and Cash Equivalents —Cash and cash equivalents are on deposit with several highly rated financial institutions and include short-term, highly-liquid investments, which are readily convertible into cash and have original maturities of three months or less. Due from/to Brokers —The Company, including the consolidated Company-sponsored funds, may transact with brokers for certain investment activities. The clearing and custody operations for these investment activities are performed pursuant to contractual agreements. The due from/to brokers balance represents cash and/or cash collateral balances at brokers/custodians and/or receivables and payables for unsettled securities transactions with brokers. Investments —Management of the Company determines the appropriate classification of its investments at the time of purchase and re-evaluates such determination no less than on a quarterly basis. The Company's investments are categorized as follows: • Equity investments at fair value, which generally represent listed equity securities held within the consolidated Company-sponsored funds, listed equity securities held directly for the purpose of establishing performance track records and seed investments in Company-sponsored open-end funds where the Company has neither control nor the ability to exercise significant influence. • Trading investments, which generally represent debt securities held within the consolidated Company-sponsored funds and listed debt securities held directly for the purpose of establishing performance track records. • Held-to-maturity investments generally represent corporate investments in U.S. Treasury securities recorded at amortized cost. Under the current expected credit loss model, any expected credit losses are recognized as an allowance, which represents an adjustment to the amortized costs basis. The Company did not hold any held-to-maturity investments at June 30, 2021. • Equity method investments, which generally represent seed investments in Company-sponsored funds in which the Company owns between 20-50% of the outstanding voting interests or when it is determined that the Company is able to exercise significant influence but not control over the investments. When using the equity method, the Company recognizes its respective share of net income or loss for the period which is recorded in gain (loss) from investments—net in the Company's condensed consolidated statements of operations. Realized and unrealized gains and losses on equity investments at fair value, trading investments and equity method investments are recorded in gain (loss) from investments—net in the Company's condensed consolidated statements of operations. From time to time, the Company, including the consolidated Company-sponsored funds, may enter into derivative contracts, including options, futures and swaps contracts, to gain exposure to the underlying commodities markets or to economically hedge market risk of the underlying portfolios. Gains and losses on derivative contracts are recorded in gain (loss) from investments—net in the Company's condensed consolidated statements of operations. The fair values of these instruments are recorded in other assets or other liabilities and accrued expenses on the Company's condensed consolidated statements of financial condition. Additionally, from time to time, the Company, including the consolidated Company-sponsored funds, may enter into forward foreign exchange contracts to economically hedge currency exposure. These instruments are measured at fair value based on the prevailing forward exchange rate with gains and losses recorded in foreign currency gain (loss)—net in the Company’s condensed consolidated statements of operations. The fair values of these contracts are recorded in other assets or other liabilities and accrued expenses on the Company’s condensed consolidated statements of financial condition. Leases —The Company determines if an arrangement is a lease at inception. The Company has operating leases for corporate offices and certain information technology equipment and these leases are included in operating lease right-of-use (ROU) assets and operating lease liabilities on the Company’s condensed consolidated statements of financial condition. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent obligations to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the net present value of lease payments over the life of the lease. The majority of the Company’s lease agreements do not provide an implicit rate. As a result, the Company used an incremental borrowing rate based on the information available as of lease commencement dates in determining the present value of lease payments. The operating lease ROU assets reflect any upfront lease payments made as well as lease incentives received. The lease terms may include options to extend or terminate the lease and these are factored into the determination of the ROU asset and lease liability at lease inception when and if it is reasonably certain that the Company will exercise that option. Lease expense for fixed lease payments is recognized on a straight-line basis over the lease term. The Company has certain lease agreements with non-lease components such as maintenance and executory costs, which are accounted for separately and not included in ROU assets. ROU assets are tested for impairment whenever changes in facts or circumstances indicate that the carrying amount of an asset may not be recoverable. Modification of a lease term would result in re-measurement of the lease liability and a corresponding adjustment to the ROU asset. Redeemable Noncontrolling Interests —Redeemable noncontrolling interests represent third-party interests in the consolidated Company-sponsored funds. These interests are redeemable at the option of the investors and therefore are not treated as permanent equity. Redeemable noncontrolling interests are recorded at fair value which approximates the redemption value at each reporting period. Investment Advisory and Administration Fees —The Company earns revenue by providing asset management services to institutional accounts, Company-sponsored open-end and closed-end funds as well as model-based portfolios. Investment advisory fees are earned pursuant to the terms of investment management agreements and are generally based on a contractual fee rate applied to the average assets under management. The Company also earns administration fees from certain Company-sponsored open-end and closed-end funds pursuant to the terms of underlying administration contracts. Administration fees are based on the average daily assets under management of such funds. Investment advisory and administration fee revenue is recognized when earned and is recorded net of any fund reimbursements. The investment advisory and administration contracts each include a single performance obligation as the services provided are not separately identifiable and are accounted for as a series satisfied over time using a time-based method (days elapsed). Additionally, investment advisory and administration fees represent variable consideration, as fees are based on average assets under management which fluctuate daily. In certain instances, the Company may earn performance fees when specified performance hurdles are met during the performance period. Performance fees are forms of variable consideration and are not recognized until it becomes probable that there will not be a significant reversal of the cumulative revenue recognized . Distribution and Service Fee Revenue —Distribution and service fee revenue is based on the average daily net assets of certain share classes of the Company's sponsored open-end funds distributed by CSS. Distribution and service fee revenue is earned daily and is recorded gross of any third-party distribution and service fee expense for applicable share classes. Distribution fee agreements include a single performance obligation that is satisfied at a point in time when an investor purchases shares in a Company-sponsored open-end fund. Distribution fees represent variable consideration, as fees are based on average assets under management which fluctuate daily. For all periods presented, a portion of the distribution fee revenue recognized in the period may relate to performance obligations satisfied (or partially satisfied) in prior periods. Service fee agreements include a single performance obligation as the services provided are not separately identifiable and are accounted for as a series satisfied over time using a time-based method (days elapsed). Service fees represent variable consideration, as fees are based on average assets under management which fluctuate daily. Distribution and Service Fee Expense —Distribution and service fee expense includes distribution fees, shareholder servicing fees and intermediary assistance payments. Distribution fees represent payments made to qualified intermediaries for (i) assistance in connection with the distribution of the Company's sponsored open-end funds' shares and (ii) for other expenses such as advertising, printing and distribution of prospectuses to investors. Such amounts may also be used to pay financial intermediaries for services as specified in the terms of written agreements complying with Rule 12b-1 of the Investment Company Act of 1940. Distribution fees are based on the average daily net assets under management of certain share classes of certain of the funds. Shareholder servicing fees represent payments made to qualified intermediaries for shareholder account service and maintenance. These services are provided pursuant to written agreements with such qualified institutions. Shareholder servicing fees are generally based on the average daily assets under management. Intermediary assistance payments represent payments to qualified intermediaries for activities related to distribution, shareholder servicing as well as marketing and support of the Company's sponsored open-end funds and are incremental to those described above. Intermediary assistance payments are generally based on the average assets under management. Stock-based Compensation —The Company recognizes compensation expense for the grant-date fair value of restricted stock unit awards to certain employees. This expense is recognized over the period during which employees are required to provide service. Forfeitures are recorded as incurred. Income Taxes —The Company records the current and deferred tax consequences of all transactions that have been recognized in the condensed consolidated financial statements in accordance with the provisions of the enacted tax laws. Deferred tax assets are recognized for temporary differences that will result in deductible amounts in future years at tax rates that are expected to apply in those years. Deferred tax liabilities are recognized for temporary differences that will result in taxable income in future years at tax rates that are expected to apply in those years. The Company records a valuation allowance, when necessary, to reduce deferred tax assets to an amount that more likely than not will be realized. The effective tax rate for interim periods is based on the Company's best estimate of the effective tax rate expected to be applied to the full fiscal year adjusted for discrete tax items during the period. The calculation of tax liabilities involves uncertainties in the application of complex tax laws and regulations across the Company's global operations. A tax benefit from an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination, including resolution of any related appeals or litigation processes, on the basis of the technical merits. The Company records potential interest and penalties related to uncertain tax positions in the provision for income taxes in the condensed consolidated statements of operations. Currency Translation and Transactions —Assets and liabilities of subsidiaries having non-U.S. dollar functional currencies are translated at exchange rates at the applicable condensed consolidated statement of financial condition date. Revenue and expenses of such subsidiaries are translated at average exchange rates during the period. The gains or losses resulting from translating non-U.S. dollar functional currency into U.S. dollars are included in the Company's condensed consolidated statements of comprehensive income. The cumulative translation adjustment was $(4.5) million and $(4.1) million at June 30, 2021 and December 31, 2020, respectively. Gains or losses resulting from transactions denominated in currencies other than the U.S. dollar within certain foreign subsidiaries are included in foreign currency gain (loss)-net within non-operating income (loss) in the condensed consolidated statements of operations. Gains and losses arising on revaluation of U.S. dollar-denominated assets and liabilities held by certain foreign subsidiaries are also included in foreign currency gain (loss)-net within non-operating income (loss) in the Company’s condensed consolidated statements of operations. Comprehensive Income —The Company reports all changes in comprehensive income in the condensed consolidated statements of comprehensive income. Comprehensive income generally includes net income or loss attributable to common stockholders and amounts attributable to foreign currency translation gain (loss).

Revenue

Revenue	6 Months Ended
Revenue	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following tables summarize revenue recognized from contracts with customers by client domicile and by investment vehicle: Three Months Ended Six Months Ended (in thousands) 2021 2020 2021 2020 Client domicile: North America $ 124,126 $ 81,407 $ 234,442 $ 172,414 Japan 9,529 7,486 18,061 15,902 Europe, Middle East and Africa 7,295 2,658 11,276 5,993 Asia Pacific excluding Japan 3,319 2,536 6,237 5,608 Total $ 144,269 $ 94,087 $ 270,016 $ 199,917 Three Months Ended Six Months Ended (in thousands) 2021 2020 2021 2020 Investment vehicle: Open-end funds (1) $ 79,627 $ 52,075 $ 149,056 $ 110,424 Institutional accounts 37,381 24,500 68,368 52,359 Closed-end funds 27,261 17,512 52,592 37,134 Total $ 144,269 $ 94,087 $ 270,016 $ 199,917 ________________________

Investments

Investments	6 Months Ended
Investments	Jun. 30, 2021
Investments [Abstract]
Investments	Investments The following table summarizes the Company's investments - (in thousands) June 30, December 31, Equity investments at fair value $ 111,677 $ 94,089 Trading 26,480 18,700 Held-to-maturity carried at amortized cost (1) — 41,648 Equity method 14 541 Total investments $ 138,171 $ 154,978 _________________________ (1) At December 31, 2020, held-to-maturity investments comprised of U.S. Treasury securities had a fair value of approximately $41.7 million. These securities would have been classified as level 2 within the fair value hierarchy if carried at fair value. There were no new funds seeded for either the six months ended June 30, 2021 or 2020. The following table summarizes gain (loss) from investments—net, including derivative financial instruments, the majority of which are used to economically hedge certain exposures (see Note 6): Three Months Ended Six Months Ended (in thousands) 2021 2020 2021 2020 Net realized gains (losses) during the period $ 2,567 $ (4,191) $ 4,456 $ (5,421) Net unrealized gains (losses) during the period on investments still held at the end of the period 5,211 11,508 7,881 (9,289) Gain (loss) from investments—net (1) $ 7,778 $ 7,317 $ 12,337 $ (14,710) ________________________ (1) Included net income (loss) attributable to redeemable noncontrolling interests. At June 30, 2021 and December 31, 2020, the Company's consolidated VIEs included the Cohen & Steers SICAV Global Listed Infrastructure Fund (GLI SICAV), the Cohen & Steers SICAV Global Real Estate Fund (SICAV GRE), the Cohen & Steers SICAV Diversified Real Assets Fund (SICAV RAP) and the Cohen & Steers Co-Investment Partnership, L.P. (GRP-CIP). The following tables summarize the condensed consolidated statements of financial condition attributable to the Company's consolidated VIEs: June 30, 2021 (in thousands) GLI SICAV SICAV GRE SICAV RAP GRP-CIP Total Assets (1) Investments $ 7,669 $ 51,682 $ 41,285 $ 264 $ 100,900 Due from brokers 103 1,730 732 46 2,611 Other assets 38 169 333 — 540 Total assets $ 7,810 $ 53,581 $ 42,350 $ 310 $ 104,051 Liabilities (1) Due to brokers $ 38 $ 2,339 $ 728 $ — $ 3,105 Other liabilities and accrued expenses 25 82 72 5 184 Total liabilities $ 63 $ 2,421 $ 800 $ 5 $ 3,289 December 31, 2020 (in thousands) GLI SICAV SICAV GRE SICAV RAP GRP-CIP Total Assets (1) Investments $ 7,140 $ 39,672 $ 33,654 $ 277 $ 80,743 Due from brokers 69 45 52 57 223 Other assets 44 359 234 — 637 Total assets $ 7,253 $ 40,076 $ 33,940 $ 334 $ 81,603 Liabilities (1) Due to brokers $ 27 $ 40 $ 61 $ — $ 128 Other liabilities and accrued expenses 29 211 81 5 326 Total liabilities $ 56 $ 251 $ 142 $ 5 $ 454 _________________________ (1) The assets may only be used to settle obligations of each VIE and the liabilities are the sole obligation of each VIE, for which creditors do not have recourse to the general credit of the Company.

Fair Value

Fair Value	6 Months Ended
Fair Value	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value	Fair Value Accounting Standards Codification Topic 820, Fair Value Measurement (ASC 820) specifies a hierarchy of valuation classifications based on whether the inputs to the valuation techniques used in each valuation classification are observable or unobservable. These classifications are summarized in the three broad levels listed below: • Level 1—Unadjusted quoted prices for identical instruments in active markets. • Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable. • Level 3—Valuations derived from valuation techniques in which significant inputs or significant value drivers are unobservable. Inputs used to measure fair value might fall in different levels of the fair value hierarchy, in which case the Company defaults to the lowest level input that is significant to the fair value measurement in its entirety. These levels are not necessarily an indication of the risk or liquidity associated with the investments. The following tables present fair value measurements: June 30, 2021 (in thousands) Level 1 Level 2 Level 3 Investments Measured at NAV (1) Total Cash equivalents $ 91,186 $ — $ — $ — $ 91,186 Equity investments at fair value: Common stocks $ 108,547 $ 199 $ — $ — $ 108,746 Company-sponsored funds 93 — — — 93 Limited partnership interests 1,158 — — 264 1,422 Preferred securities 1,269 14 — — 1,283 Other — — — 133 133 Total $ 111,067 $ 213 $ — $ 397 $ 111,677 Trading investments: Fixed income $ — $ 26,480 $ — $ — $ 26,480 Equity method investments $ — $ — $ — $ 14 $ 14 Total investments $ 111,067 $ 26,693 $ — $ 411 $ 138,171 Derivatives - assets: Futures - commodities $ 839 $ — $ — $ — $ 839 Total return swaps - commodities (2) — 113 — — 113 Total return swaps - equities — 24 — — 24 Forward contracts - foreign exchange — 149 — — 149 Total $ 839 $ 286 $ — $ — $ 1,125 Derivatives - liabilities: Futures - commodities $ 259 $ — $ — $ — $ 259 Total return swaps - commodities — 363 — — 363 Total return swaps - equities — 487 — — 487 Forward contracts - foreign exchange — 17 — — 17 Total $ 259 $ 867 $ — $ — $ 1,126 ________________________ (1) Comprised of certain investments measured at fair value using net asset value (NAV) as a practical expedient. (2) Included total return swaps - commodities held by consolidated Company-sponsored funds. December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Investments Measured at NAV (1) Investments Total Cash equivalents $ 23,372 $ — $ — $ — $ — $ 23,372 Equity investments at fair value: Common stocks $ 91,614 $ — $ — $ — $ — $ 91,614 Company-sponsored funds 246 — — — — 246 Limited partnership interests 831 — — 277 — 1,108 Preferred securities 983 12 — — — 995 Other — — — 126 — 126 Total $ 93,674 $ 12 $ — $ 403 $ — $ 94,089 Trading investments: Fixed income $ — $ 18,700 $ — $ — $ — $ 18,700 Held-to-maturity investments $ — $ — $ — $ — $ 41,648 $ 41,648 Equity method investments $ — $ — $ — $ 541 $ — $ 541 Total investments $ 93,674 $ 18,712 $ — $ 944 $ 41,648 $ 154,978 Derivatives - assets: Futures - commodities $ 1,012 $ — $ — $ — $ — $ 1,012 Derivatives - liabilities: Futures - commodities $ 416 $ — $ — $ — $ — $ 416 Total return swaps - commodities — 136 — — — 136 Total return swaps - equities — 1,562 — — — 1,562 Forward contracts - foreign exchange — 345 — — — 345 Total $ 416 $ 2,043 $ — $ — $ — $ 2,459 ________________________ (1) Comprised of certain investments measured at fair value using net asset value (NAV) as a practical expedient. Cash equivalents were comprised of investments in actively traded U.S. Treasury money market funds measured at NAV. Equity investments at fair value classified as level 2 were comprised of common stocks and preferred securities with predominately equity-like characteristics for which quoted prices in active markets are not available. Fair values for the common stocks classified as level 2 were generally based on quoted prices for similar instruments in active markets. Fair values for the preferred securities classified as level 2 were generally determined using third-party pricing services. The pricing services may utilize pricing models, and inputs into those models may include reported trades, executable bid and ask prices, broker-dealer quotations, prices or yields of similar securities, benchmark curves and other market information. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Trading investments classified as level 2 were comprised of U.S. Treasury securities and corporate debt securities. The fair value amounts were generally determined using third-party pricing services. The pricing services may utilize evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information. Investments measured at NAV were comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. These investments were comprised of: • Equity investments at fair value - included limited partner interests in limited partnership vehicles that invest in non-registered real estate funds and the Company's co-investment in a Cayman trust invested in global listed infrastructure securities (which is included in "Other" in the leveling table), both of which are valued based on the NAVs of the underlying investments. At June 30, 2021 and December 31, 2020, the Company did not have the ability to redeem the interests in the limited partnership vehicles; there were no contractual restrictions on the Company's ability to redeem its interest in the Cayman trust. • Equity method investments - included the Company's partnership interest in the Cohen & Steers Global Realty Partners III-TE, L.P. (GRP-TE) at June 30, 2021 and December 31, 2020. GRP-TE invests in non-registered real estate funds. The Company's ownership interest was approximately 0.2% and the Company did not have the ability to redeem the investment at either June 30, 2021 or December 31, 2020. In addition, at December 31, 2020, the Cohen & Steers Global Realty Focus Fund (GRF), a series of Cohen & Steers Series LP was included. During the first quarter of 2021, GRF was redeemed. Held-to-maturity investments at December 31, 2020 were comprised of U.S. Treasury securities, which were directly issued by the U.S. government. These securities were purchased with the intent to hold to maturity and were recorded at amortized cost. Investments measured at NAV as a practical expedient and investments carried at amortized cost have not been classified in the fair value hierarchy. The amounts presented in the above tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented on the condensed consolidated statements of financial condition. Swap contracts classified as level 2 were valued based on the underlying futures contracts or equity indices. Foreign currency exchange contracts classified as level 2 were valued based on the prevailing forward exchange rate, which is an input that is observable in active markets. Valuation Techniques In certain instances, debt, equity and preferred securities are valued on the basis of prices from an orderly transaction between market participants provided by reputable broker-dealers or independent pricing services. In determining the value of a particular investment, independent pricing services may use information with respect to transactions in such investments, broker quotes, pricing matrices, market transactions in comparable investments and various relationships between investments. As part of its independent price verification process, the Company generally performs reviews of valuations provided by broker-dealers or independent pricing services. Investments in Company-sponsored funds are valued at their closing price or NAV (or its equivalent) as a practical expedient. In the absence of observable market prices, the Company values its investments using valuation methodologies applied on a consistent basis. For some investments, little market activity may exist; management's determination of fair value is then based on the best information available in the circumstances, and may incorporate management's own assumptions and involve a significant degree of judgment, taking into consideration a combination of internal and external factors. Such investments, which are generally immaterial, are valued on a quarterly basis, taking into consideration any changes in key inputs and changes in economic and other relevant conditions, and valuation models are updated accordingly. The valuation process also includes a review by the Company's valuation committee which is comprised of senior members from various departments within the Company, including investment management. The valuation committee provides independent oversight of the valuation policies and procedures.

Derivatives

Derivatives	6 Months Ended
Derivatives	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives The following tables summarize the notional amount and fair value of the outstanding derivative financial instruments none of which were designated in a formal hedging relationship: As of June 30, 2021 Notional Amount Fair Value (1) (in thousands) Long Short Assets Liabilities Corporate derivatives: Futures - commodities $ 15,181 $ 3,590 $ 839 $ 259 Total return swaps - commodities — 11,014 — 363 Total return swaps - equities — 21,281 24 487 Forward contracts - foreign exchange — 11,183 149 17 Total corporate derivatives $ 15,181 $ 47,068 $ 1,012 $ 1,126 Derivatives held by consolidated Company-sponsored funds: Total return swaps - commodities 9,341 — 113 — Total $ 24,522 $ 47,068 $ 1,125 $ 1,126 As of December 31, 2020 Notional Amount Fair Value (1) (in thousands) Long Short Assets Liabilities Corporate derivatives: Futures - commodities $ 13,624 $ 4,257 $ 1,012 $ 416 Total return swaps - commodities — 9,598 — 136 Total return swaps - equities — 17,688 — 1,562 Forward contracts - foreign exchange — 14,061 — 345 Total $ 13,624 $ 45,604 $ 1,012 $ 2,459 ________________________ (1) The fair value of derivative financial instruments is recorded in other assets and other liabilities and accrued expenses on the Company's condensed consolidated statements of financial condition. Our corporate derivatives include: • Future commodity contracts utilized to gain exposure in the commodities market for the purpose of establishing a performance track record; • Total return swap commodity contracts utilized as economic hedges to reduce the overall risk of the Company's market exposure to seed investments in commodity futures; • Total return swap equity contracts utilized to economically hedge a portion of the market risk of certain other seed investments; and • Forward foreign exchange contracts to economically hedge currency exposure arising from certain non-U.S. dollar investment advisory fees. Non-corporate derivatives are comprised of commodity swap contracts that are utilized by certain of the consolidated Company-sponsored funds to gain exposure in the commodities market as part of the funds' investment strategies. Cash included in due from brokers on the condensed consolidated statements of financial condition of $4.6 million and $4.9 million at June 30, 2021 and December 31, 2020, respectively, was held as collateral for corporate derivatives including futures, forward and swap contracts. U.S. Treasury securities included in investments on the condensed consolidated statements of financial condition of $1.2 million and $1.5 million at June 30, 2021 and December 31, 2020, respectively, were held as collateral for corporate derivatives including futures and swap contracts. There was no collateral required for the non-corporate derivatives at June 30, 2021. The following table summarizes net gains (losses) from derivative financial instruments: Three Months Ended Six Months Ended (in thousands) 2021 2020 2021 2020 Corporate derivatives: Futures - commodities $ 1,463 $ 412 $ 2,168 $ (1,689) Total return swaps - commodities (1,335) (381) (1,993) 1,760 Total return swaps - equities (1,440) — (2,508) — Forward contracts - foreign exchange (657) (164) 477 (67) Total corporate derivatives $ (1,969) $ (133) $ (1,856) $ 4 Derivatives held by consolidated Company-sponsored funds: Total return swaps - commodities 1,193 — 1,072 — Total (1) $ (776) $ (133) $ (784) $ 4 ________________________

Earnings Per Share

Earnings Per Share	6 Months Ended
Earnings Per Share	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share is calculated by dividing net income attributable to common stockholders by the weighted average shares outstanding. Diluted earnings per share is calculated by dividing net income attributable to common stockholders by the total weighted average shares of common stock outstanding and common stock equivalents determined using the treasury stock method. Common stock equivalents are comprised of dilutive potential shares from restricted stock unit awards and are excluded from the computation if their effect is anti-dilutive. The following table reconciles income and share data used in the basic and diluted earnings per share computations: Three Months Ended Six Months Ended (in thousands, except per share data) 2021 2020 2021 2020 Net income $ 52,406 $ 32,162 $ 104,836 $ 40,230 Net (income) loss attributable to redeemable noncontrolling interests (5,827) (3,642) (9,405) 8,862 Net income attributable to common stockholders $ 46,579 $ 28,520 $ 95,431 $ 49,092 Basic weighted average shares outstanding 48,285 47,826 48,216 47,739 Dilutive potential shares from restricted stock units 666 746 615 810 Diluted weighted average shares outstanding 48,951 48,572 48,831 48,549 Basic earnings per share attributable to common stockholders $ 0.96 $ 0.60 $ 1.98 $ 1.03 Diluted earnings per share attributable to common stockholders $ 0.95 $ 0.59 $ 1.95 $ 1.01 Anti-dilutive common stock equivalents excluded from the calculation — 63 — —

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes included U.S. federal, state, local and foreign taxes. The effective tax rate for the three months ended June 30, 2021 was approximately 25.4%, compared with approximately 28.0% for the three months ended June 30, 2020. The effective tax rate for the three months ended June 30, 2021 and 2020 differed from the U.S. federal statutory rate of 21.0% primarily due to state, local and foreign income taxes and limitations on the deductibility of executive compensation. In addition, the effective tax rate for the three months ended June 30, 2021 included the cumulative effect of a change in the Company’s estimated effective tax rate for the year. The effective tax rate for the six months ended June 30, 2021 was approximately 17.5%, compared with approximately 19.0% for the six months ended June 30, 2020. The effective tax rate for the six months ended June 30, 2021 differed from the U.S. federal statutory rate of 21.0% primarily due to state, local and foreign income taxes and limitations on the deductibility of executive compensation. These were more than offset by the reversal of certain liabilities associated with unrecognized tax benefits and the tax effect associated with the appreciated value of the restricted stock units delivered in January 2021. The effective tax rate for the six months ended June 30, 2020 differed from the U.S. federal statutory rate of 21.0% primarily due to state, local and foreign income taxes and limitations on the deductibility of executive compensation. These were more than offset by the tax effect associated with the appreciated value of the restricted stock units delivered in January 2020. Deferred income taxes represent the tax effects of the temporary differences between book and tax bases and are measured using enacted tax rates that will be in effect when such items are expected to reverse. The Company's net deferred tax asset was primarily comprised of future income tax deductions attributable to the delivery of unvested restricted stock units. The Company records a valuation allowance, when necessary, to reduce deferred tax assets to an amount that more likely than not will be realized.

Related Party Transactions

Related Party Transactions	6 Months Ended
Related Party Transactions	Jun. 30, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company is an investment adviser to, and has administration agreements with, Company-sponsored funds for which certain employees are officers and/or directors. The following table summarizes the amount of revenue the Company earned from these affiliated funds: Three Months Ended Six Months Ended (in thousands) 2021 2020 2021 2020 Investment advisory and administration fees (1) $ 95,542 $ 61,035 $ 180,190 $ 129,377 Distribution and service fees 9,199 6,930 17,471 14,713 Total $ 104,741 $ 67,965 $ 197,661 $ 144,090 _________________________ (1) Investment advisory and administration fees are reflected net of fund reimbursements of $3.7 million and $2.9 million for the three months ended June 30, 2021 and 2020, respectively, and $7.2 million and $6.1 million for the six months ended June 30, 2021 and 2020, respectively. Included in accounts receivable at June 30, 2021 and December 31, 2020 are receivables due from Company-sponsored funds of $36.6 million and $30.2 million, respectively. Included in accounts payable at June 30, 2021 and December 31, 2020 are payables due to Company-sponsored funds of $0.4 million and $0.6 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies From time to time, the Company is involved in legal matters relating to claims arising in the ordinary course of business. There are currently no such matters pending that the Company believes could have a material adverse effect on its condensed consolidated results of operations, cash flows or financial position. The Company periodically commits to fund a portion of the equity in certain of its sponsored investment products. The Company has committed to co-invest up to $5.1 million alongside GRP-TE, a portion of which is made through GRP-TE and the remainder of which is made through GRP-CIP for up to 12 years through the life of GRP-TE. As of June 30, 2021, the Company has funded approximately $3.8 million with respect to this commitment. The actual timing for funding the unfunded portion of this commitment is currently unknown, as the drawdown of the Company's unfunded commitment is contingent on the timing of drawdowns by the underlying funds in which GRP-TE and GRP-CIP invest. The unfunded commitment was not recorded on the Company's condensed consolidated statements of financial condition.

Concentration of Credit Risk

Concentration of Credit Risk	6 Months Ended
Concentration of Credit Risk	Jun. 30, 2021
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	Concentration of Credit Risk The Company's cash and cash equivalents are principally on deposit with major financial institutions. The Company is subject to credit risk should these financial institutions be unable to fulfill their obligations.

Subsequent Events

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the condensed consolidated financial statements were issued. Other than the items described below, the Company determined that there were no additional subsequent events that require disclosure and/or adjustment. On August 5, 2021, the Company declared a quarterly dividend on its common stock in the amount of $0.45 per share. The dividend will be payable on August 26, 2021 to stockholders of record at the close of business on August 16, 2021.

Basis of Presentation and Sig_2

Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements —In December 2019, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2019-12, Income Taxes (Topic 740) : Simplifying the Accounting for Income Taxes . The standard is intended to simplify various aspects related to income taxes and removes certain exceptions to the general principles in Topic 740. This new guidance became effective on January 1, 2021. The Company's adoption of the new standard did not have a material effect on its condensed consolidated financial statements and related disclosures.
Accounting Estimates	Accounting Estimates —The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the dates of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Management believes the estimates used in preparing the condensed consolidated financial statements are reasonable and prudent. Actual results could differ from those estimates.
Reclassifications	Reclassifications —The Company reclassified certain prior period amounts to conform with the current period presentation, primarily related to accrued employee benefits which were reclassified from other liabilities and accrued expenses to accrued compensation and benefits on the Company's condensed consolidated statements of financial condition.
Consolidation of Company-sponsored Funds	Consolidation of Company-sponsored Funds —Investments in Company-sponsored funds and management fees are evaluated at inception and thereafter, if there is a reconsideration event, in order to determine whether to apply the Variable Interest Entity (VIE) model or the Voting Interest Entity (VOE) model. In performing this analysis, all of the Company's management fees are presumed to be commensurate and at market and are therefore not considered variable interests. A VIE is an entity in which either (i) the equity investment at risk is not sufficient to permit the entity to finance its own activities without additional financial support or (ii) the group of holders of the equity investment at risk lack certain characteristics of a controlling financial interest. The primary beneficiary is the entity that has (i) the power to direct the activities of the VIE that most significantly affect its performance, and (ii) the obligation to absorb losses of the entity or the right to receive benefits from the entity that could potentially be significant to the VIE. Subscriptions and redemptions or amendments to the governing documents of the respective entities could affect an entity's status as a VIE or the determination of the primary beneficiary. The Company assesses whether it is the primary beneficiary of any VIEs identified by evaluating its economic interests in the entity held either directly by the Company and its affiliates or indirectly through employees. VIEs for which the Company is deemed to be the primary beneficiary are consolidated.
Cash and Cash Equivalents	Cash and Cash Equivalents —Cash and cash equivalents are on deposit with several highly rated financial institutions and include short-term, highly-liquid investments, which are readily convertible into cash and have original maturities of three months or less.
Due from/to Brokers	Due from/to Brokers —The Company, including the consolidated Company-sponsored funds, may transact with brokers for certain investment activities. The clearing and custody operations for these investment activities are performed pursuant to contractual agreements. The due from/to brokers balance represents cash and/or cash collateral balances at brokers/custodians and/or receivables and payables for unsettled securities transactions with brokers.
Investments	Investments —Management of the Company determines the appropriate classification of its investments at the time of purchase and re-evaluates such determination no less than on a quarterly basis. The Company's investments are categorized as follows: • Equity investments at fair value, which generally represent listed equity securities held within the consolidated Company-sponsored funds, listed equity securities held directly for the purpose of establishing performance track records and seed investments in Company-sponsored open-end funds where the Company has neither control nor the ability to exercise significant influence. • Trading investments, which generally represent debt securities held within the consolidated Company-sponsored funds and listed debt securities held directly for the purpose of establishing performance track records. • Held-to-maturity investments generally represent corporate investments in U.S. Treasury securities recorded at amortized cost. Under the current expected credit loss model, any expected credit losses are recognized as an allowance, which represents an adjustment to the amortized costs basis. The Company did not hold any held-to-maturity investments at June 30, 2021. • Equity method investments, which generally represent seed investments in Company-sponsored funds in which the Company owns between 20-50% of the outstanding voting interests or when it is determined that the Company is able to exercise significant influence but not control over the investments. When using the equity method, the Company recognizes its respective share of net income or loss for the period which is recorded in gain (loss) from investments—net in the Company's condensed consolidated statements of operations. Realized and unrealized gains and losses on equity investments at fair value, trading investments and equity method investments are recorded in gain (loss) from investments—net in the Company's condensed consolidated statements of operations. From time to time, the Company, including the consolidated Company-sponsored funds, may enter into derivative contracts, including options, futures and swaps contracts, to gain exposure to the underlying commodities markets or to economically hedge market risk of the underlying portfolios. Gains and losses on derivative contracts are recorded in gain (loss) from investments—net in the Company's condensed consolidated statements of operations. The fair values of these instruments are recorded in other assets or other liabilities and accrued expenses on the Company's condensed consolidated statements of financial condition. Additionally, from time to time, the Company, including the consolidated Company-sponsored funds, may enter into forward foreign exchange contracts to economically hedge currency exposure. These instruments are measured at fair value based on the prevailing forward exchange rate with gains and losses recorded in foreign currency gain (loss)—net in the Company’s condensed consolidated statements of operations. The fair values of these contracts are recorded in other assets or other liabilities and accrued expenses on the Company’s condensed consolidated statements of financial condition.
Leases	Leases —The Company determines if an arrangement is a lease at inception. The Company has operating leases for corporate offices and certain information technology equipment and these leases are included in operating lease right-of-use (ROU) assets and operating lease liabilities on the Company’s condensed consolidated statements of financial condition. ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent obligations to make lease payments arising from the lease. Operating lease ROU assets and lease liabilities are recognized at commencement date based on the net present value of lease payments over the life of the lease. The majority of the Company’s lease agreements do not provide an implicit rate. As a result, the Company used an incremental borrowing rate based on the information available as of lease commencement dates in determining the present value of lease payments. The operating lease ROU assets reflect any upfront lease payments made as well as lease incentives received. The lease terms may include options to extend or terminate the lease and these are factored into the determination of the ROU asset and lease liability at lease inception when and if it is reasonably certain that the Company will exercise that option. Lease expense for fixed lease payments is recognized on a straight-line basis over the lease term. The Company has certain lease agreements with non-lease components such as maintenance and executory costs, which are accounted for separately and not included in ROU assets. ROU assets are tested for impairment whenever changes in facts or circumstances indicate that the carrying amount of an asset may not be recoverable. Modification of a lease term would result in re-measurement of the lease liability and a corresponding adjustment to the ROU asset.
Redeemable Noncontrolling Interests	Redeemable Noncontrolling Interests —Redeemable noncontrolling interests represent third-party interests in the consolidated Company-sponsored funds. These interests are redeemable at the option of the investors and therefore are not treated as permanent equity. Redeemable noncontrolling interests are recorded at fair value which approximates the redemption value at each reporting period.
Investment Advisory and Administration Fees	Investment Advisory and Administration Fees —The Company earns revenue by providing asset management services to institutional accounts, Company-sponsored open-end and closed-end funds as well as model-based portfolios. Investment advisory fees are earned pursuant to the terms of investment management agreements and are generally based on a contractual fee rate applied to the average assets under management. The Company also earns administration fees from certain Company-sponsored open-end and closed-end funds pursuant to the terms of underlying administration contracts. Administration fees are based on the average daily assets under management of such funds. Investment advisory and administration fee revenue is recognized when earned and is recorded net of any fund reimbursements. The investment advisory and administration contracts each include a single performance obligation as the services provided are not separately identifiable and are accounted for as a series satisfied over time using a time-based method (days elapsed). Additionally, investment advisory and administration fees represent variable consideration, as fees are based on average assets under management which fluctuate daily. In certain instances, the Company may earn performance fees when specified performance hurdles are met during the performance period. Performance fees are forms of variable consideration and are not recognized until it becomes probable that there will not be a significant reversal of the cumulative revenue recognized .
Distribution and Service Fee Revenue	Distribution and Service Fee Revenue —Distribution and service fee revenue is based on the average daily net assets of certain share classes of the Company's sponsored open-end funds distributed by CSS. Distribution and service fee revenue is earned daily and is recorded gross of any third-party distribution and service fee expense for applicable share classes. Distribution fee agreements include a single performance obligation that is satisfied at a point in time when an investor purchases shares in a Company-sponsored open-end fund. Distribution fees represent variable consideration, as fees are based on average assets under management which fluctuate daily. For all periods presented, a portion of the distribution fee revenue recognized in the period may relate to performance obligations satisfied (or partially satisfied) in prior periods. Service fee agreements include a single performance obligation as the services provided are not separately identifiable and are accounted for as a series satisfied over time using a time-based method (days elapsed). Service fees represent variable consideration, as fees are based on average assets under management which fluctuate daily.
Distribution and Service Fee Expense	Distribution and Service Fee Expense —Distribution and service fee expense includes distribution fees, shareholder servicing fees and intermediary assistance payments. Distribution fees represent payments made to qualified intermediaries for (i) assistance in connection with the distribution of the Company's sponsored open-end funds' shares and (ii) for other expenses such as advertising, printing and distribution of prospectuses to investors. Such amounts may also be used to pay financial intermediaries for services as specified in the terms of written agreements complying with Rule 12b-1 of the Investment Company Act of 1940. Distribution fees are based on the average daily net assets under management of certain share classes of certain of the funds. Shareholder servicing fees represent payments made to qualified intermediaries for shareholder account service and maintenance. These services are provided pursuant to written agreements with such qualified institutions. Shareholder servicing fees are generally based on the average daily assets under management. Intermediary assistance payments represent payments to qualified intermediaries for activities related to distribution, shareholder servicing as well as marketing and support of the Company's sponsored open-end funds and are incremental to those described above. Intermediary assistance payments are generally based on the average assets under management.
Stock-based Compensation	Stock-based Compensation —The Company recognizes compensation expense for the grant-date fair value of restricted stock unit awards to certain employees. This expense is recognized over the period during which employees are required to provide service. Forfeitures are recorded as incurred.
Income Taxes	Income Taxes —The Company records the current and deferred tax consequences of all transactions that have been recognized in the condensed consolidated financial statements in accordance with the provisions of the enacted tax laws. Deferred tax assets are recognized for temporary differences that will result in deductible amounts in future years at tax rates that are expected to apply in those years. Deferred tax liabilities are recognized for temporary differences that will result in taxable income in future years at tax rates that are expected to apply in those years. The Company records a valuation allowance, when necessary, to reduce deferred tax assets to an amount that more likely than not will be realized. The effective tax rate for interim periods is based on the Company's best estimate of the effective tax rate expected to be applied to the full fiscal year adjusted for discrete tax items during the period. The calculation of tax liabilities involves uncertainties in the application of complex tax laws and regulations across the Company's global operations. A tax benefit from an uncertain tax position is recognized when it is more likely than not that the position will be sustained upon examination, including resolution of any related appeals or litigation processes, on the basis of the technical merits. The Company records potential interest and penalties related to uncertain tax positions in the provision for income taxes in the condensed consolidated statements of operations.
Currency Translation and Transactions	Currency Translation and Transactions —Assets and liabilities of subsidiaries having non-U.S. dollar functional currencies are translated at exchange rates at the applicable condensed consolidated statement of financial condition date. Revenue and expenses of such subsidiaries are translated at average exchange rates during the period. The gains or losses resulting from translating non-U.S. dollar functional currency into U.S. dollars are included in the Company's condensed consolidated statements of comprehensive income. The cumulative translation adjustment was $(4.5) million and $(4.1) million at June 30, 2021 and December 31, 2020, respectively. Gains or losses resulting from transactions denominated in currencies other than the U.S. dollar within certain foreign subsidiaries are included in foreign currency gain (loss)-net within non-operating income (loss) in the condensed consolidated statements of operations. Gains and losses arising on revaluation of U.S. dollar-denominated assets and liabilities held by certain foreign subsidiaries are also included in foreign currency gain (loss)-net within non-operating income (loss) in the Company’s condensed consolidated statements of operations.
Comprehensive Income	Comprehensive Income —The Company reports all changes in comprehensive income in the condensed consolidated statements of comprehensive income. Comprehensive income generally includes net income or loss attributable to common stockholders and amounts attributable to foreign currency translation gain (loss).
Valuation Techniques	Valuation Techniques In certain instances, debt, equity and preferred securities are valued on the basis of prices from an orderly transaction between market participants provided by reputable broker-dealers or independent pricing services. In determining the value of a particular investment, independent pricing services may use information with respect to transactions in such investments, broker quotes, pricing matrices, market transactions in comparable investments and various relationships between investments. As part of its independent price verification process, the Company generally performs reviews of valuations provided by broker-dealers or independent pricing services. Investments in Company-sponsored funds are valued at their closing price or NAV (or its equivalent) as a practical expedient. In the absence of observable market prices, the Company values its investments using valuation methodologies applied on a consistent basis. For some investments, little market activity may exist; management's determination of fair value is then based on the best information available in the circumstances, and may incorporate management's own assumptions and involve a significant degree of judgment, taking into consideration a combination of internal and external factors. Such investments, which are generally immaterial, are valued on a quarterly basis, taking into consideration any changes in key inputs and changes in economic and other relevant conditions, and valuation models are updated accordingly. The valuation process also includes a review by the Company's valuation committee which is comprised of senior members from various departments within the Company, including investment management. The valuation committee provides independent oversight of the valuation policies and procedures.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
Revenue (Tables)	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables summarize revenue recognized from contracts with customers by client domicile and by investment vehicle: Three Months Ended Six Months Ended (in thousands) 2021 2020 2021 2020 Client domicile: North America $ 124,126 $ 81,407 $ 234,442 $ 172,414 Japan 9,529 7,486 18,061 15,902 Europe, Middle East and Africa 7,295 2,658 11,276 5,993 Asia Pacific excluding Japan 3,319 2,536 6,237 5,608 Total $ 144,269 $ 94,087 $ 270,016 $ 199,917 Three Months Ended Six Months Ended (in thousands) 2021 2020 2021 2020 Investment vehicle: Open-end funds (1) $ 79,627 $ 52,075 $ 149,056 $ 110,424 Institutional accounts 37,381 24,500 68,368 52,359 Closed-end funds 27,261 17,512 52,592 37,134 Total $ 144,269 $ 94,087 $ 270,016 $ 199,917 ________________________

Investments (Tables)

Investments (Tables)	6 Months Ended
Investments (Tables)	Jun. 30, 2021
Investments [Abstract]
Summary Investment Holdings	The following table summarizes the Company's investments - (in thousands) June 30, December 31, Equity investments at fair value $ 111,677 $ 94,089 Trading 26,480 18,700 Held-to-maturity carried at amortized cost (1) — 41,648 Equity method 14 541 Total investments $ 138,171 $ 154,978 _________________________ (1) At December 31, 2020, held-to-maturity investments comprised of U.S. Treasury securities had a fair value of approximately $41.7 million. These securities would have been classified as level 2 within the fair value hierarchy if carried at fair value.
Gain (Loss) on Investments	The following table summarizes gain (loss) from investments—net, including derivative financial instruments, the majority of which are used to economically hedge certain exposures (see Note 6): Three Months Ended Six Months Ended (in thousands) 2021 2020 2021 2020 Net realized gains (losses) during the period $ 2,567 $ (4,191) $ 4,456 $ (5,421) Net unrealized gains (losses) during the period on investments still held at the end of the period 5,211 11,508 7,881 (9,289) Gain (loss) from investments—net (1) $ 7,778 $ 7,317 $ 12,337 $ (14,710) ________________________ (1) Included net income (loss) attributable to redeemable noncontrolling interests.
Schedule of Variable Interest Entities	The following tables summarize the condensed consolidated statements of financial condition attributable to the Company's consolidated VIEs: June 30, 2021 (in thousands) GLI SICAV SICAV GRE SICAV RAP GRP-CIP Total Assets (1) Investments $ 7,669 $ 51,682 $ 41,285 $ 264 $ 100,900 Due from brokers 103 1,730 732 46 2,611 Other assets 38 169 333 — 540 Total assets $ 7,810 $ 53,581 $ 42,350 $ 310 $ 104,051 Liabilities (1) Due to brokers $ 38 $ 2,339 $ 728 $ — $ 3,105 Other liabilities and accrued expenses 25 82 72 5 184 Total liabilities $ 63 $ 2,421 $ 800 $ 5 $ 3,289 December 31, 2020 (in thousands) GLI SICAV SICAV GRE SICAV RAP GRP-CIP Total Assets (1) Investments $ 7,140 $ 39,672 $ 33,654 $ 277 $ 80,743 Due from brokers 69 45 52 57 223 Other assets 44 359 234 — 637 Total assets $ 7,253 $ 40,076 $ 33,940 $ 334 $ 81,603 Liabilities (1) Due to brokers $ 27 $ 40 $ 61 $ — $ 128 Other liabilities and accrued expenses 29 211 81 5 326 Total liabilities $ 56 $ 251 $ 142 $ 5 $ 454 _________________________ (1) The assets may only be used to settle obligations of each VIE and the liabilities are the sole obligation of each VIE, for which creditors do not have recourse to the general credit of the Company.

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
Fair Value (Tables)	Jun. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The following tables present fair value measurements: June 30, 2021 (in thousands) Level 1 Level 2 Level 3 Investments Measured at NAV (1) Total Cash equivalents $ 91,186 $ — $ — $ — $ 91,186 Equity investments at fair value: Common stocks $ 108,547 $ 199 $ — $ — $ 108,746 Company-sponsored funds 93 — — — 93 Limited partnership interests 1,158 — — 264 1,422 Preferred securities 1,269 14 — — 1,283 Other — — — 133 133 Total $ 111,067 $ 213 $ — $ 397 $ 111,677 Trading investments: Fixed income $ — $ 26,480 $ — $ — $ 26,480 Equity method investments $ — $ — $ — $ 14 $ 14 Total investments $ 111,067 $ 26,693 $ — $ 411 $ 138,171 Derivatives - assets: Futures - commodities $ 839 $ — $ — $ — $ 839 Total return swaps - commodities (2) — 113 — — 113 Total return swaps - equities — 24 — — 24 Forward contracts - foreign exchange — 149 — — 149 Total $ 839 $ 286 $ — $ — $ 1,125 Derivatives - liabilities: Futures - commodities $ 259 $ — $ — $ — $ 259 Total return swaps - commodities — 363 — — 363 Total return swaps - equities — 487 — — 487 Forward contracts - foreign exchange — 17 — — 17 Total $ 259 $ 867 $ — $ — $ 1,126 ________________________ (1) Comprised of certain investments measured at fair value using net asset value (NAV) as a practical expedient. (2) Included total return swaps - commodities held by consolidated Company-sponsored funds. December 31, 2020 (in thousands) Level 1 Level 2 Level 3 Investments Measured at NAV (1) Investments Total Cash equivalents $ 23,372 $ — $ — $ — $ — $ 23,372 Equity investments at fair value: Common stocks $ 91,614 $ — $ — $ — $ — $ 91,614 Company-sponsored funds 246 — — — — 246 Limited partnership interests 831 — — 277 — 1,108 Preferred securities 983 12 — — — 995 Other — — — 126 — 126 Total $ 93,674 $ 12 $ — $ 403 $ — $ 94,089 Trading investments: Fixed income $ — $ 18,700 $ — $ — $ — $ 18,700 Held-to-maturity investments $ — $ — $ — $ — $ 41,648 $ 41,648 Equity method investments $ — $ — $ — $ 541 $ — $ 541 Total investments $ 93,674 $ 18,712 $ — $ 944 $ 41,648 $ 154,978 Derivatives - assets: Futures - commodities $ 1,012 $ — $ — $ — $ — $ 1,012 Derivatives - liabilities: Futures - commodities $ 416 $ — $ — $ — $ — $ 416 Total return swaps - commodities — 136 — — — 136 Total return swaps - equities — 1,562 — — — 1,562 Forward contracts - foreign exchange — 345 — — — 345 Total $ 416 $ 2,043 $ — $ — $ — $ 2,459 ________________________ (1) Comprised of certain investments measured at fair value using net asset value (NAV) as a practical expedient.

Derivatives (Tables)

Derivatives (Tables)	6 Months Ended
Derivatives (Tables)	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following tables summarize the notional amount and fair value of the outstanding derivative financial instruments none of which were designated in a formal hedging relationship: As of June 30, 2021 Notional Amount Fair Value (1) (in thousands) Long Short Assets Liabilities Corporate derivatives: Futures - commodities $ 15,181 $ 3,590 $ 839 $ 259 Total return swaps - commodities — 11,014 — 363 Total return swaps - equities — 21,281 24 487 Forward contracts - foreign exchange — 11,183 149 17 Total corporate derivatives $ 15,181 $ 47,068 $ 1,012 $ 1,126 Derivatives held by consolidated Company-sponsored funds: Total return swaps - commodities 9,341 — 113 — Total $ 24,522 $ 47,068 $ 1,125 $ 1,126 As of December 31, 2020 Notional Amount Fair Value (1) (in thousands) Long Short Assets Liabilities Corporate derivatives: Futures - commodities $ 13,624 $ 4,257 $ 1,012 $ 416 Total return swaps - commodities — 9,598 — 136 Total return swaps - equities — 17,688 — 1,562 Forward contracts - foreign exchange — 14,061 — 345 Total $ 13,624 $ 45,604 $ 1,012 $ 2,459 ________________________ (1) The fair value of derivative financial instruments is recorded in other assets and other liabilities and accrued expenses on the Company's condensed consolidated statements of financial condition.
Gains (losses) on Derivatives	The following table summarizes net gains (losses) from derivative financial instruments: Three Months Ended Six Months Ended (in thousands) 2021 2020 2021 2020 Corporate derivatives: Futures - commodities $ 1,463 $ 412 $ 2,168 $ (1,689) Total return swaps - commodities (1,335) (381) (1,993) 1,760 Total return swaps - equities (1,440) — (2,508) — Forward contracts - foreign exchange (657) (164) 477 (67) Total corporate derivatives $ (1,969) $ (133) $ (1,856) $ 4 Derivatives held by consolidated Company-sponsored funds: Total return swaps - commodities 1,193 — 1,072 — Total (1) $ (776) $ (133) $ (784) $ 4 ________________________

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
Earnings Per Share (Tables)	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table reconciles income and share data used in the basic and diluted earnings per share computations: Three Months Ended Six Months Ended (in thousands, except per share data) 2021 2020 2021 2020 Net income $ 52,406 $ 32,162 $ 104,836 $ 40,230 Net (income) loss attributable to redeemable noncontrolling interests (5,827) (3,642) (9,405) 8,862 Net income attributable to common stockholders $ 46,579 $ 28,520 $ 95,431 $ 49,092 Basic weighted average shares outstanding 48,285 47,826 48,216 47,739 Dilutive potential shares from restricted stock units 666 746 615 810 Diluted weighted average shares outstanding 48,951 48,572 48,831 48,549 Basic earnings per share attributable to common stockholders $ 0.96 $ 0.60 $ 1.98 $ 1.03 Diluted earnings per share attributable to common stockholders $ 0.95 $ 0.59 $ 1.95 $ 1.01 Anti-dilutive common stock equivalents excluded from the calculation — 63 — —

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
Related Party Transactions (Tables)	Jun. 30, 2021
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table summarizes the amount of revenue the Company earned from these affiliated funds: Three Months Ended Six Months Ended (in thousands) 2021 2020 2021 2020 Investment advisory and administration fees (1) $ 95,542 $ 61,035 $ 180,190 $ 129,377 Distribution and service fees 9,199 6,930 17,471 14,713 Total $ 104,741 $ 67,965 $ 197,661 $ 144,090 _________________________ (1) Investment advisory and administration fees are reflected net of fund reimbursements of $3.7 million and $2.9 million for the three months ended June 30, 2021 and 2020, respectively, and $7.2 million and $6.1 million for the six months ended June 30, 2021 and 2020, respectively.

Basis of Presentation and Sig_3

Basis of Presentation and Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (4,500)	$ (4,100)

Revenue (Details)

Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Revenue (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total revenue	$ 144,269	$ 94,087	$ 270,016	$ 199,917
Distribution and service fees
Disaggregation of Revenue [Line Items]
Total revenue	9,199	6,930	17,471	14,713
Open-end funds
Disaggregation of Revenue [Line Items]
Total revenue	79,627	52,075	149,056	110,424
Closed-end funds
Disaggregation of Revenue [Line Items]
Total revenue	27,261	17,512	52,592	37,134
Institutional accounts
Disaggregation of Revenue [Line Items]
Total revenue	37,381	24,500	68,368	52,359
North America
Disaggregation of Revenue [Line Items]
Total revenue	124,126	81,407	234,442	172,414
Japan
Disaggregation of Revenue [Line Items]
Total revenue	9,529	7,486	18,061	15,902
Asia, excluding Japan
Disaggregation of Revenue [Line Items]
Total revenue	3,319	2,536	6,237	5,608
Europe, Middle East and Africa
Disaggregation of Revenue [Line Items]
Total revenue	$ 7,295	$ 2,658	$ 11,276	$ 5,993

Investments Trading and Equity

Investments Trading and Equity Investments (Details) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)new_funds_seeded	Jun. 30, 2020USD ($)new_funds_seeded	Dec. 31, 2020USD ($)
Trading Securities and Other Trading Assets [Line Items]
Equity investments at fair value		$ 111,677	$ 111,677	$ 111,677	$ 111,677	$ 94,089
Trading		26,480	26,480	26,480	26,480	18,700
Held-to-maturity carried at amortized cost		0		0		41,648
Equity method		14	14	14	$ 14	541
Total investments	[1]	138,171		138,171		154,978
Debt Securities, Held-to-maturity, Fair Value		41,700		$ 41,700
Number of new funds seeded \| new_funds_seeded				0	0
Gain (Loss) on Investments [Abstract]
Net realized gains (losses) during the period		2,567	(4,191)	$ 4,456	$ (5,421)
Net unrealized gains (losses) during the period on investments still held at the end of the period		5,211	11,508	7,881	(9,289)
Gain (loss) from investments—net		$ 7,778	$ 7,317	$ 12,337	$ (14,710)
Fair Value, Measurements, Recurring
Trading Securities and Other Trading Assets [Line Items]
Equity investments at fair value						$ 94,089

[1]	Asset and liability amounts in parentheses represent the aggregated balances at June 30, 2021 and December 31, 2020 attributable to variable interest entities consolidated by the Company. Refer to Note 4 for further discussion.

Investments Variable Interest E

Investments Variable Interest Entity (Details) - USD ($) $ in Thousands		Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Investments	[1]	$ 138,171	$ 154,978
Other Assets	[1]	12,535	15,399
Assets		403,169	348,453
Due to brokers	[1]	3,403	501
Other liabilities and accrued expenses	[1]	9,876	11,318
Liabilities		111,200	123,549
GLI SICAV
Variable Interest Entity [Line Items]
Investments		7,669	7,140
Due from broker		103	69
Other Assets		38	44
Assets		7,810	7,253
Due to brokers		38	27
Other liabilities and accrued expenses		25	29
Liabilities		63	56
GRP-CIP
Variable Interest Entity [Line Items]
Investments		264	277
Due from broker		46	57
Other Assets		0	0
Assets		310	334
Due to brokers		0	0
Other liabilities and accrued expenses		5	5
Liabilities		5	5
SICAV GRE
Variable Interest Entity [Line Items]
Investments		51,682	39,672
Due from broker		1,730	45
Other Assets		169	359
Assets		53,581	40,076
Due to brokers		2,339	40
Other liabilities and accrued expenses		82	211
Liabilities		2,421	251
SICAV RAP
Variable Interest Entity [Line Items]
Investments		41,285	33,654
Due from broker		732	52
Other Assets		333	234
Assets		42,350	33,940
Due to brokers		728	61
Other liabilities and accrued expenses		72	81
Liabilities		800	142
GLI SICAV, GRP-CIP, SICAV GRE and SICAV RAP
Variable Interest Entity [Line Items]
Investments		100,900	80,743
Due from broker		2,611	223
Other Assets		540	637
Assets		104,051	81,603
Due to brokers		3,105	128
Other liabilities and accrued expenses		184	326
Liabilities		$ 3,289	$ 454

[1]	Asset and liability amounts in parentheses represent the aggregated balances at June 30, 2021 and December 31, 2020 attributable to variable interest entities consolidated by the Company. Refer to Note 4 for further discussion.

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	$ 26,480	$ 18,700	$ 26,480
Held-to-maturity	0	41,648
Equity investments at fair value	111,677	94,089	111,677
Equity method investments	14	541	$ 14
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	91,186	23,372
Equity investments at fair value		94,089
Total investments	138,171	154,978
Derivative - assets	1,125
Derivative - liabilities	1,126	2,459
Fair Value, Measurements, Recurring \| Futures - commodities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative - assets	839	1,012
Derivative - liabilities	259	416
Fair Value, Measurements, Recurring \| Total return swaps - commodities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative - assets	113
Derivative - liabilities	363	136
Fair Value, Measurements, Recurring \| Forward contracts - foreign exchange [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative - assets	149
Derivative - liabilities	17	345
Fair Value, Measurements, Recurring \| Equity Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative - assets	24
Derivative - liabilities	487	1,562
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	91,186	23,372
Equity investments at fair value	111,067	93,674
Total investments	111,067	93,674
Derivative - assets	839
Derivative - liabilities	259	416
Fair Value, Measurements, Recurring \| Level 1 \| Futures - commodities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative - assets	839	1,012
Derivative - liabilities	259	416
Fair Value, Measurements, Recurring \| Level 1 \| Forward contracts - foreign exchange [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative - assets	0
Derivative - liabilities	0
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	213	12
Total investments	26,693	18,712
Derivative - assets	286
Derivative - liabilities	867	2,043
Fair Value, Measurements, Recurring \| Level 2 \| Futures - commodities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative - liabilities	0
Fair Value, Measurements, Recurring \| Level 2 \| Total return swaps - commodities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative - assets	113
Derivative - liabilities	363	136
Fair Value, Measurements, Recurring \| Level 2 \| Forward contracts - foreign exchange [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative - assets	149
Derivative - liabilities	17	345
Fair Value, Measurements, Recurring \| Level 2 \| Equity Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative - assets	24
Derivative - liabilities	487	1,562
Fair Value, Measurements, Recurring \| Investments Measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	397	403
Total investments	411	944
Preferred Stock [Member] \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	1,283	995
Preferred Stock [Member] \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	1,269	983
Preferred Stock [Member] \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	14	12
Preferred Stock [Member] \| Fair Value, Measurements, Recurring \| Investments Measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	0
Limited partnership interests \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	1,422	1,108
Limited partnership interests \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	1,158	831
Limited partnership interests \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	0
Limited partnership interests \| Fair Value, Measurements, Recurring \| Investments Measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	264	277
Fixed income \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading		18,700
Total investments		41,648
Fixed income \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	0
Fixed income \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	26,480	18,700
Fixed income \| Fair Value, Measurements, Recurring \| Investments Measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Trading	0	0
Common stocks \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	108,746	91,614
Common stocks \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	108,547	91,614
Common stocks \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	199
Common stocks \| Fair Value, Measurements, Recurring \| Investments Measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	0
Other \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	133	126
Other \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	0
Other \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	0
Other \| Fair Value, Measurements, Recurring \| Investments Measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	133	126
Company-sponsored funds \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	93	246
Company-sponsored funds \| Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	93	246
Company-sponsored funds \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	0
Company-sponsored funds \| Fair Value, Measurements, Recurring \| Investments Measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investments at fair value	$ 0
Held-to-maturity investments \| Fixed income \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Held-to-maturity		41,648
Equity Method Investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity Method Investment, Ownership Percentage	0.20%
Equity Method Investments \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investments		541
Equity Method Investments \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investments	$ 0	0
Equity Method Investments \| Fair Value, Measurements, Recurring \| Investments Measured at NAV
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investments	$ 14	$ 541

Derivatives (Details)

Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Derivatives (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Derivative [Line Items]
Notional Amount, long	$ 24,522		$ 24,522		$ 13,624
Notional Amount, Short	47,068		47,068		45,604
Derivative Assets, Fair Value	1,125		1,125		1,012
Derivative Liabilities, Fair Value	1,126		1,126		2,459
Derivative, Gains (Losses) on derivative, net	(776)	$ (133)	(784)	$ 4
Corporate, Non-Segment
Derivative [Line Items]
Notional Amount, long	15,181		15,181
Notional Amount, Short	47,068		47,068
Derivative Assets, Fair Value	1,012		1,012
Derivative Liabilities, Fair Value	1,126		1,126
Derivative, Gains (Losses) on derivative, net	(1,969)	(133)	(1,856)	4
Forward contracts - foreign exchange
Derivative [Line Items]
Notional Amount, long	0		0		0
Notional Amount, Short	11,183		11,183		14,061
Derivative Assets, Fair Value	149		149		0
Derivative Liabilities, Fair Value	17		17		345
Derivative, Gains (Losses) on derivative, net	(657)	(164)	477	(67)
Futures - commodities
Derivative [Line Items]
Notional Amount, long	15,181		15,181		13,624
Notional Amount, Short	3,590		3,590		4,257
Derivative Assets, Fair Value	839		839		1,012
Derivative Liabilities, Fair Value	259		259		416
Derivative, Gains (Losses) on derivative, net	1,463	412	2,168	(1,689)
Total return swaps - commodities
Derivative [Line Items]
Notional Amount, long	0		0		0
Notional Amount, Short	11,014		11,014		9,598
Derivative Assets, Fair Value	0		0		0
Derivative Liabilities, Fair Value	363		363		136
Derivative, Gains (Losses) on derivative, net	(1,335)	(381)	(1,993)	1,760
Total return swaps - commodities \| Consolidation, Eliminations
Derivative [Line Items]
Notional Amount, long	9,341		9,341
Derivative Assets, Fair Value	113		113
Derivative, Gains (Losses) on derivative, net	1,193		1,072
Equity Swap
Derivative [Line Items]
Notional Amount, long	0		0
Notional Amount, Short	21,281		21,281		17,688
Derivative Assets, Fair Value	24		24
Derivative Liabilities, Fair Value	487		487		1,562
Derivative, Gains (Losses) on derivative, net	(1,440)	$ 0	(2,508)	$ 0
Cash
Derivative [Line Items]
Trading investments and pledged as collateral	4,600		4,600		4,900
Investments \| Interest Rate Swap
Derivative [Line Items]
Trading investments and pledged as collateral	$ 1,200		$ 1,200		$ 1,500

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income	$ 52,406	$ 32,162	$ 104,836	$ 40,230
Less: Net (income) loss attributable to redeemable noncontrolling interests	(5,827)	(3,642)	(9,405)	8,862
Net income attributable to common stockholders	$ 46,579	$ 28,520	$ 95,431	$ 49,092
Basic weighted average shares outstanding (shares)	48,285,000	47,826,000	48,216,000	47,739,000
Dilutive potential shares from restricted stock units (shares)	666,000	746,000	615,000	810,000
Diluted weighted average shares outstanding (shares)	48,951,000	48,572,000	48,831,000	48,549,000
Basic earnings per share attributable to common stockholders (in dollars per share)	$ 0.96	$ 0.60	$ 1.98	$ 1.03
Diluted earnings per share attributable to common stockholders (in dollars per share)	$ 0.95	$ 0.59	$ 1.95	$ 1.01
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%	21.00%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	63,000	0	0

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		6 Months Ended
Income Taxes (Details)	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Contingency [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%	21.00%
U.S. Federal, State, Local and Foreign Taxes
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation, percent	25.40%	28.00%	17.50%	19.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Related Party Transactions, Revenue [Abstract]
Total revenue	$ 144,269	$ 94,087	$ 270,016	$ 199,917
Distribution and service fees
Related Party Transactions, Revenue [Abstract]
Total revenue	9,199	6,930	17,471	14,713
Affiliated Funds
Related Party Transactions, Revenue [Abstract]
Investment advisory and administrative fees	95,542	61,035	180,190	129,377
Distribution and service fees	9,199	6,930	17,471	14,713
Total	104,741	67,965	197,661	144,090
Related Party Transaction, Expenses from Transactions with Related Party	3,700	$ 2,900	7,200	$ 6,100
Receivables due from company-sponsored mutual funds	36,600		36,600		$ 30,200
Payables due to company-sponsored mutual funds	$ 400		$ 400		$ 600

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	6 Months Ended
Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2021USD ($)
Commitments
Contingencies [Line Items]
Long-term purchase commitment, time period	12 years
Commitment to invest
Contingencies [Line Items]
Long-term purchase commitment	$ 5.1
Long-term committment, funded amount	$ 3.8

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	Aug. 05, 2021	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)		$ 0.45	$ 0.39	$ 0.90	$ 0.78
Dividend Declared \| Subsequent Event
Subsequent Event [Line Items]
Dividends declared per share (in dollars per share)	$ 0.45