Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

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FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table presents assets that are measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023 (in thousands):
Level 1 Level 2 Level 3 Measured at
NAV		 Total
March 31, 2024
Assets:
Common shares in publicly traded company $ 113  $ —  $ —  $ —  $ 113 
Exchange traded funds 2,962  —  —  —  2,962 
Mutual funds 17,032  —  —  —  17,032 
Accrued performance allocations —  —  —  320,323  320,323 
Partnership interests —  —  —  175,412  175,412 
Other investments —  —  10,727  —  10,727 
Total assets at fair value $ 20,107  $ —  $ 10,727  $ 495,735  $ 526,569 
Liabilities:
General Partner Notes Payable $ —  $ —  $ —  $ 3,231  $ 3,231 
December 31, 2023
Assets:
Common shares in publicly traded company $ 135  $ —  $ —  $ —  $ 135 
Exchange traded funds 2,843  —  —  —  2,843 
Mutual funds 16,860  —  —  —  16,860 
Accrued performance allocations —  —  —  381,993  381,993 
Partnership interests —  —  —  191,635  191,635 
Other investments —  —  12,026  —  12,026 
Total assets at fair value $ 19,838  $ —  $ 12,026  $ 573,628  $ 605,492 
Liabilities:
General Partner Notes Payable $ —  $ —  $ —  $ 3,355  $ 3,355 
Schedule of Changes in Fair Value of Company's Level 3 Assets
The following table presents a rollforward of Level 3 assets at cost adjusted for any impairment and observable price changes (in thousands):
Other
Investments
Balance as of December 31, 2023 $ 12,026 
Purchases 28 
Sales (1,599)
Net unrealized gains (losses) 272 
Balance as of March 31, 2024 $ 10,727 
Schedule of Investments Valued Using NAV The following table presents investments carried at fair value using NAV (in thousands):
Fair Value Unfunded
Commitments
March 31, 2024:
Accrued performance allocations $ 320,323  N/A
Partnership interests:
Company-sponsored open-end fund $ 29,054  $ — 
Company-sponsored closed-end funds 131,696  7,275 
Third-party closed-end funds 14,662  7,283 
Total partnership interests $ 175,412  $ 14,558 
 
December 31, 2023:
Accrued performance allocations $ 381,993  N/A
Partnership interests:
Company-sponsored open-end fund $ 46,530  $ — 
Company-sponsored closed-end funds 131,188  7,662 
Third-party closed-end funds 13,917  7,955 
Total partnership interests $ 191,635  $ 15,617 
Schedule of Carrying Amounts and Estimated Fair Values of Financial Instruments at Amortized Cost
The following table presents the carrying amounts and estimated fair values of financial instruments reported at amortized cost (in thousands):
Level 1 Level 2 Level 3 Total Carrying
Value
As of March 31, 2024:
Notes payable (private notes) $ —  $ —  $ 418,992  $ 418,992  $ 450,000 
As of December 31, 2023:
Notes payable (private notes) $ —  $ —  $ 423,263  $ 423,263  $ 450,000