Annual report pursuant to Section 13 and 15(d)

Investments (Tables)

v3.22.0.1
Investments (Tables)
12 Months Ended
Dec. 31, 2021
Schedule of Investments [Line Items]  
Summary of Investments The Company’s investments are summarized below:

 

 

 

 

 

Carrying Value

 

(in thousands)

 

 

 

December 31,

 

 

December 31,

 

Investments

 

 

 

2021

 

 

2020

 

Accrued performance allocations

 

(1)

 

$

439,548

 

 

$

199,410

 

 

 

 

 

 

 

 

 

 

Other investments:

 

 

 

 

 

 

 

 

Partnership interests in Company-sponsored funds

 

(2)

 

 

31,984

 

 

 

12,975

 

Investments in third-party partnerships

 

(3)

 

 

7,701

 

 

 

2,697

 

Other

 

(4)

 

 

4,321

 

 

 

345

 

Total other investments

 

 

 

$

44,006

 

 

$

16,017

 

 

(1) Represents an investment in carried interest in the funds. There is a disproportionate allocation of returns to the Company as general partner or equivalent based on the extent to which cumulative performance of the fund exceeds minimum return hurdles. Investment is valued using NAV of the respective vehicle.

(2) Partnership interests in Company-sponsored funds are valued using NAV of the respective vehicle.

(3) Investments in limited partnership interests in third-party private proptech venture capital firms are valued using NAV of the respective vehicle.

(4) Other investments are accounted for using the measurement alternative to measure at cost adjusted for any impairment and observable price changes.