| Summary 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 at September 30, 2021 and December 31, 2020:
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Measured at |
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(in thousands) |
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Level 1 |
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Level 2 |
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Level 3 |
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NAV |
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Total |
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September 30, 2021 |
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Assets: |
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Exchange traded funds |
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$ |
1,327 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
1,327 |
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Mutual funds |
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7,781 |
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— |
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— |
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— |
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7,781 |
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Accrued performance allocations |
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— |
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— |
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— |
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301,910 |
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301,910 |
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Partnership interests |
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— |
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— |
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— |
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34,264 |
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34,264 |
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Other |
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— |
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— |
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4,221 |
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— |
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4,221 |
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Total assets |
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$ |
9,108 |
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$ |
— |
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$ |
4,221 |
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$ |
336,174 |
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$ |
349,503 |
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Liabilities: |
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General Partner Notes Payable |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
12,007 |
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$ |
12,007 |
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December 31, 2020 |
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Assets: |
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Exchange traded funds |
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$ |
736 |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
736 |
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Mutual funds |
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4,317 |
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— |
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— |
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— |
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4,317 |
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Accrued performance allocations |
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— |
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— |
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— |
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199,410 |
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199,410 |
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Partnership interests |
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— |
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— |
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— |
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15,672 |
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15,672 |
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Other |
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— |
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— |
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345 |
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— |
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345 |
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Total assets |
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$ |
5,053 |
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$ |
— |
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$ |
345 |
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$ |
215,082 |
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$ |
220,480 |
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Liabilities: |
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General Partner Notes Payable |
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$ |
— |
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$ |
— |
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$ |
— |
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$ |
16,458 |
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$ |
16,458 |
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| Summary of Investments Valued Using NAV Per Share |
The following table presents investments carried at fair value using NAV:
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Unfunded |
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(in thousands) |
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Fair Value |
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Commitments |
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September 30, 2021: |
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Accrued performance allocations |
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$ |
301,910 |
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$ |
— |
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Company-sponsored open-end fund |
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15,525 |
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— |
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Company-sponsored closed-end funds |
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12,346 |
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58 |
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Third-party closed-end funds |
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6,393 |
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3,352 |
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Total |
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$ |
336,174 |
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$ |
3,410 |
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#REF! |
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December 31, 2020: |
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Accrued performance allocations |
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$ |
199,410 |
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$ |
— |
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Company-sponsored open-end fund |
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12,643 |
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— |
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Company-sponsored closed-end funds |
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332 |
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58 |
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Third-party closed-end funds |
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2,697 |
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4,802 |
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Total |
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$ |
215,082 |
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$ |
4,860 |
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| Summary 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.
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Carrying |
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(in thousands) |
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Level 1 |
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Level 2 |
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Level 3 |
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Total |
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Value |
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September 30, 2021: |
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Notes Payable, Net (private notes) |
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$ |
— |
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$ |
— |
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$ |
146,211 |
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$ |
146,211 |
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$ |
150,000 |
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December 31, 2020: |
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Notes Payable, Net (private notes) |
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$ |
— |
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$ |
— |
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$ |
149,225 |
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$ |
149,225 |
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$ |
150,000 |
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