Cohen & Steers (CNS) 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Mar. 31, 2017	May 02, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	COHEN & STEERS INC
Entity Central Index Key	1,284,812
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		46,293,601

Condensed Consolidated Statemen

Condensed Consolidated Statements of Financial Condition (Unaudited) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents		$ 156,685	$ 183,234
Trading investments ($637 and $487), ($7,634 and $6,987)	[1],[2]	15,162	12,689
Equity method investments		6,170	6,459
Available-for-sale investments		38,843	35,396
Accounts receivable		58,676	46,288
Due from brokers ($520 and $475)	[1]	2,159	1,579
Property and equipment—net		15,557	15,964
Goodwill and intangible assets—net		19,233	19,118
Deferred income tax asset—net		0	5,619
Other assets ($40 and $43)	[1]	7,055	7,382
Total assets		319,540	333,728
Liabilities:
Accrued compensation		9,536	35,333
Distribution and service fees payable		6,448	6,452
Income tax payable		15,906	9,375
Deferred rent		6,172	6,229
Deferred income tax liabilities		54	0
Other liabilities and accrued expenses ($75 and $75)	[1]	7,088	9,672
Total liabilities		45,204	67,061
Commitments and contingencies
Redeemable noncontrolling interest		975	853
Stockholders’ equity:
Common stock, $0.01 par value; 500,000,000 shares authorized; 51,078,878 and 50,415,152 shares issued at March 31, 2017 and December 31, 2016, respectively		511	504
Additional paid-in capital		550,249	543,829
Accumulated deficit		(118,663)	(127,957)
Accumulated other comprehensive loss, net of tax		(5,019)	(5,885)
Less: Treasury stock, at cost, 4,787,094 and 4,524,694 shares at March 31, 2017 and December 31, 2016, respectively		(153,717)	(144,677)
Total stockholders’ equity		273,361	265,814
Total liabilities and stockholders’ equity		$ 319,540	$ 333,728
[1]	Asset and liability amounts in parentheses represent the aggregated balances at March 31, 2017 and December 31, 2016 attributable to Cohen & Steers SICAV Global Listed Infrastructure Fund and Cohen & Steers Co-Investment Partnership, L.P., which were variable interest entities as of March 31, 2017 and December 31, 2016, respectively.
[2]	Pledged as collateral attributable to the consolidated balances of Cohen & Steers Active Commodities Strategy Fund, Inc. as of March 31, 2017 and December 31, 2016, respectively.

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Financial Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016
Common stock, par value		$ 0.01	$ 0.01
Common stock, shares authorized		500,000,000	500,000,000
Common stock, shares issued		50,352,262	50,415,152
Common Stock, Shares, Outstanding		45,843,645	45,890,458
Treasury stock, shares		4,508,617	4,524,694
Trading investments	[1],[2]	$ 15,162	$ 12,689
Due from broker	[1]	2,159	1,579
Other Assets	[1]	7,055	7,382
Other liabilities and accrued expenses	[1]	7,088	9,672
GLIC SICAV and CRP-CIP
Trading investments		7,634	6,987
Due from broker		520	475
Other Assets		40	43
Due to broker		0	0
Other liabilities and accrued expenses		$ 75	$ 75
[1]	Asset and liability amounts in parentheses represent the aggregated balances at March 31, 2017 and December 31, 2016 attributable to Cohen & Steers SICAV Global Listed Infrastructure Fund and Cohen & Steers Co-Investment Partnership, L.P., which were variable interest entities as of March 31, 2017 and December 31, 2016, respectively.
[2]	Pledged as collateral attributable to the consolidated balances of Cohen & Steers Active Commodities Strategy Fund, Inc. as of March 31, 2017 and December 31, 2016, respectively.

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Revenue:
Investment advisory and administration fees		$ 81,903	$ 73,088
Distribution and service fees		5,046	4,233
Portfolio consulting and other		2,737	2,360
Total revenue		89,686	79,681
Expenses:
Employee compensation and benefits		29,383	28,040
Distribution and service fees		9,780	8,702
General and administrative		12,930	12,735
Depreciation and amortization		2,065	1,897
Total expenses		54,158	51,374
Operating income		35,528	28,307
Non-operating income:
Interest and dividend income—net		499	542
Gain (loss) from trading investments—net	[1]	273	(207)
Equity in (losses) earnings of affiliates		(289)	427
Gain (loss) from available-for-sale investments—net		35	(30)
Other losses		(291)	(89)
Total non-operating income (loss)		227	643
Income before provision for income taxes		35,755	28,950
Provision for income taxes		12,811	11,083
Net income		22,944	17,867
Less: Net loss attributable to redeemable noncontrolling interest		41	216
Net income attributable to common stockholders		$ 22,985	$ 18,083
Earnings per share attributable to common stockholders:
Basic (in dollars per share)		$ 0.50	$ 0.39
Diluted (in dollars per share)		0.49	0.39
Dividends declared per share (in dollars per share)		$ 0.28	$ 0.26
Weighted average shares outstanding:
Basic (shares)		46,243	45,808
Diluted (shares)		46,603	46,195
[1]	Includes net income/(loss) attributable to redeemable noncontrolling interest for the periods presented.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 22,944	$ 17,867
Less: Net loss attributable to redeemable noncontrolling interest	41	216
Net income attributable to common stockholders	22,985	18,083
Foreign currency translation gain (loss) (net of tax of $0)	487	372
Net unrealized gain from available-for-sale investments (net of tax of $0)	414	787
Reclassification to statements of operations of (gain) loss from available-for-sale investments (net of tax of $0)	(35)	30
Other comprehensive income	866	1,189
Total comprehensive income attributable to common stockholders	$ 23,851	$ 19,272

Condensed Consolidated Stateme6

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	Total Stockholders' Equity	Redeemable Noncontrolling Interest
Beginning balance at Dec. 31, 2015		$ 497	$ 519,855	$ (148,096)	$ (3,843)	$ (136,637)	$ 231,776
Beginning balance (redeemable noncontrolling interest) at Dec. 31, 2015								$ 11,334
Beginning balance (shares of common stock, net) at Dec. 31, 2015		45,440,000
Dividends		$ 0	0	(12,253)	0	0	(12,253)
Issuance of common stock		$ 6	237	0	0	0	243	0
Issuance of common stock, shares		662,000
Repurchase of common stock		$ 0	0	0	0	(7,375)	(7,375)	0
Repurchase of common stock, shares		(258,000)
Tax deficiency associated with restricted stock units—net		$ 0	(1,517)	0	0	0	(1,517)	0
Issuance of restricted stock units		0	408	0	0	0	408	0
Amortization of restricted stock units—net		0	7,063	0	0	0	7,063	0
Net income (loss)	$ 17,867	0	0	18,083	0	0	18,083	(216)
Other comprehensive income (loss), net of tax	1,189	0	0	0	1,189	0	1,189	0
Contributions from redeemable noncontrolling interest	3,734	0	0	0	0	0	0	3,734
Ending balance at Mar. 31, 2016		$ 503	526,017	(142,266)	(2,654)	(144,012)	237,588
Ending balance (redeemable noncontrolling interest) at Mar. 31, 2016								689
Ending balance (shares of common stock, net) at Mar. 31, 2016		45,844,000
Beginning balance at Dec. 31, 2016	$ 265,814	$ 504	543,829	(127,957)	(5,885)	(144,677)	265,814
Beginning balance (redeemable noncontrolling interest) at Dec. 31, 2016								853
Beginning balance (shares of common stock, net) at Dec. 31, 2016	45,890,458	45,890,000
Dividends		$ 0	0	(13,406)	0	0	(13,406)
Issuance of common stock		$ 7	250	0	0	0	257	0
Issuance of common stock, shares		664,000
Repurchase of common stock		$ 0	0	0	0	(9,040)	(9,040)	0
Repurchase of common stock, shares		(262,000)
Issuance of restricted stock units		$ 0	596	0	0	0	596	0
Amortization of restricted stock units—net		0	5,578	(285)	0	0	5,293	0
Forfeitures of restricted stock units		0	(4)	0	0	0	(4)	0
Net income (loss)	$ 22,944	0	0	22,985	0	0	22,985	(41)
Other comprehensive income (loss), net of tax	866	0	0	0	866	0	866	0
Contributions from redeemable noncontrolling interest	174	0	0	0	0	0	0	174
Distributions to redeemable noncontrolling interest		0	0	0	0	0	0	(11)
Ending balance at Mar. 31, 2017	$ 273,361	$ 511	$ 550,249	$ (118,663)	$ (5,019)	$ (153,717)	$ 273,361
Ending balance (redeemable noncontrolling interest) at Mar. 31, 2017								$ 975
Ending balance (shares of common stock, net) at Mar. 31, 2017	45,843,645	46,292,000

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income		$ 22,944	$ 17,867
Adjustments to reconcile net income to net cash used in operating activities:
Stock compensation expense		5,328	7,072
Depreciation and amortization		2,065	1,897
Deferred rent		(57)	42
(Gain) loss from trading investments—net	[1]	(273)	207
Equity in losses (earnings) of affiliates		289	(427)
(Gain) loss from available-for-sale investments—net		(35)	30
Deferred income taxes		5,406	4,066
Foreign currency loss (gain)		1,452	(1,635)
Changes in operating assets and liabilities:
Accounts receivable		(13,840)	(8,294)
Due from broker		(580)	(646)
Deferred commissions		(443)	(954)
Trading investments		(2,200)	(4,470)
Other assets		(44)	(763)
Accrued compensation		(25,770)	(23,537)
Distribution and service fees payable		(4)	(399)
Due to broker		0	1,820
Income tax payable		6,531	5,578
Other liabilities and accrued expenses		(2,581)	15
Net cash used in operating activities		(1,812)	(2,531)
Cash flows from investing activities:
Proceeds from redemptions of equity method investments—net		0	51
Purchases of available-for-sale investments		(9,545)	(2,128)
Proceeds from sales of available-for-sale investments		6,746	1,942
Purchases of property and equipment		(649)	(1,448)
Net cash used in investing activities		(3,448)	(1,583)
Cash flows from financing activities:
Issuance of common stock		219	206
Repurchase of common stock		(9,040)	(7,375)
Dividends to stockholders		(12,979)	(11,970)
Distributions to redeemable noncontrolling interest		(11)	(127)
Contributions from redeemable noncontrolling interest		174	3,734
Net cash used in financing activities		(21,637)	(15,532)
Net decrease in cash and cash equivalents		(26,897)	(19,646)
Effect of foreign exchange rate changes on cash and cash equivalents		348	$ (168)
Cash and cash equivalents, beginning of the period		183,234
Cash and cash equivalents, end of the period		$ 156,685
[1]	Includes net income/(loss) attributable to redeemable noncontrolling interest for the periods presented.

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income taxes paid, net	$ (989)	$ (1,526)
Fully vested restricted stock units issued	168	125
Restricted stock unit dividend equivalents, net of forfeitures	$ 427	283
LPX
Transfer of redeemable noncontrolling interest in consolidated entity		14,036
Non-cash increase in equity method investments		$ 14,550

Organization and Description of

Organization and Description of Business	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	Organization and Description of Business Cohen & 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) and Cohen & Steers Japan, LLC (collectively, the Company). The Company is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. Founded in 1986, the Company is headquartered in New York City, with offices in London, Hong Kong, Tokyo and Seattle.

Basis of Presentation and Signi

Basis of Presentation and Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
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, 2016 . New Accounting Pronouncements Adopted —In March 2016, the Financial Accounting Standards Board (FASB) issued new guidance amending the current accounting for an investment that becomes qualified for the equity method of accounting. The guidance requires that the cost of acquiring an additional interest in the investment, if any, that resulted in it qualifying for the equity method be added to the carrying value of the investment. The equity method will then be applied from that point forward without any retroactive application or adjustment. This new guidance was effective for the Company's first quarter of 2017. The adoption of this new guidance did not have a material impact on its condensed consolidated financial statements and related disclosures. In March 2016, the FASB issued new guidance which simplifies several aspects of the accounting for share-based payment transactions, including the accounting for income taxes, excess tax benefits, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. The Company adopted this guidance on January 1, 2017. Prospectively beginning January 1, 2017, excess tax benefits or tax deficiencies are now reflected in the condensed consolidated statements of operations as a component of the provision for income taxes. For the three months ended March 31, 2017, the Company recognized $54,000 of excess tax benefits. Additionally, the condensed consolidated statement of cash flows now reflects excess tax benefits from share-based payments as an operating activity, rather than a financing activity. Finally, the Company elected to account for forfeitures as they occur, rather than estimate expected forfeitures. As a result, the Company reclassified $285,000 from additional paid-in capital to retained earnings. 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. Consolidation of Company-sponsored Funds —The Company consolidates entities, including sponsored funds, that are deemed to be voting interest entities (VOE) when it has financial control over the entity which is generally when the Company owns a majority of the outstanding voting interest. Investments in Company-sponsored funds and management fees are evaluated at inception and subsequently if there is a reconsideration event to determine if the fund is a Variable Interest Entities (VIEs) or VOE and which consolidation model to apply. All of the Company's management fees are presumed to be commensurate and at market and are therefore not considered variable interests. 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 subsidiaries for which the Company’s ownership is less than 100 percent. A VIE is an entity in which either (a) the equity investment at risk is not sufficient to permit the entity to finance its own activities without additional financial support or (b) 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 (a) the power to direct the activities of the VIE that most significantly affect its performance and (b) 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. Investments 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. See Note 4 for further discussion about the Company’s seed investments. Cash and Cash Equivalents —Cash equivalents consist of 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 conducts business, primarily with respect to its consolidated seed investments, with brokers for certain of its 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 cash equivalents balances at brokers/custodians and/or receivables and payables for unsettled securities transactions. Investments —Management of the Company determines the appropriate classification of its investments at the time of purchase and re-evaluates such determination at each statement of financial condition date. Investments classified as trading represent securities held within the affiliated funds that the Company consolidates and are measured at fair value based on quoted market prices, market prices obtained from independent pricing services engaged by management or as determined by management and approved by the Company’s valuation committee. Unrealized gains and losses are recorded as gain (loss) from trading investments—net in the Company’s condensed consolidated statements of operations. Investments classified as equity method investments represent seed investments in which the Company owns between 20-50% of the outstanding voting interests in the affiliated fund 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 the affiliated investee fund net income or loss for the period which is recorded as equity in earnings (losses) of affiliates in the Company’s condensed consolidated statements of operations. As of March 31, 2017 , the Company's equity method investments consisted of interests in affiliated funds which measure their underlying investments at fair value based on quoted market prices or NAV (or its equivalent) as a practical expedient and report a net asset value on a recurring basis. The carrying amounts of these investments approximate their fair value. Investments classified as available-for-sale are comprised of equity securities, fixed income securities, investment-grade preferred instruments and investments in Company-sponsored open-end funds where the Company has neither control nor the ability to exercise significant influence. These investments are carried at fair value based on quoted market prices or market prices obtained from independent pricing services engaged by management, with unrealized gains and losses, net of tax, reported in accumulated other comprehensive income. The Company periodically reviews each individual security position that has an unrealized loss, or impairment, to determine if that impairment is other than temporary. If the Company believes an impairment of a security position is other than temporary, based on available quantitative and qualitative information as of the report date, the loss will be recognized as gain (loss) from available-for-sale investments—net in the Company’s condensed consolidated statements of operations. From time to time, the affiliated funds consolidated by the Company enter into derivative contracts to gain exposure to the underlying commodities markets or to hedge market and credit risks of the underlying portfolios utilizing options, total return swaps, credit default swaps and futures contracts. These instruments are measured at fair value based on their settlement price at the close of trading on the associated commodities exchange or board of trade with gains and losses recorded as gain (loss) from trading 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 in the Company’s condensed consolidated statements of financial condition. As of March 31, 2017 , none of the outstanding derivative contracts were subject to a master netting agreement or other similar arrangement. Additionally, from time to time, the Company enters into foreign exchange contracts to hedge its currency exposure related to certain client receivables. These instruments are measured at fair value with gains and losses recorded in other non-operating income 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 in the Company's condensed consolidated statements of financial condition. Goodwill and Intangible Assets —Goodwill represents the excess of the cost of the Company’s investment in the net assets of an acquired company over the fair value of the underlying identifiable net assets at the date of acquisition. Goodwill and indefinite lived intangible assets are not amortized but are tested at least annually for impairment by comparing the fair value to their carrying amounts. Finite lived intangible assets are amortized over their useful lives and are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. See Note 3 for further discussion about the Company’s goodwill and intangible assets. Redeemable Noncontrolling Interest —Redeemable noncontrolling interest represents third-party interests in the Company’s consolidated entities. This interest is redeemable at the option of the investors and therefore is not treated as permanent equity. Redeemable noncontrolling interest is remeasured at redemption value which approximates the fair value at each reporting period. Investment Advisory and Administration Fees —The Company earns revenue by providing asset management services to institutional accounts and to Company-sponsored open-end and closed-end funds. Investment advisory fees are earned pursuant to the terms of investment management agreements, and are based on a contractual fee rate applied to the assets in the portfolio. 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 assets under management of such funds. Investment advisory and administration fee revenue is recognized as such fees are earned. Distribution and Service Fee Revenue —CSS acts as the principal distributor of the Company’s sponsored open-end funds which may offer the following classes: Class A (initial sales load), Class C (back-end sales load), Class R (load retirement) and Class Z (no load retirement). Distribution and service fee revenue is based on the average daily net assets of the funds as detailed below. 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. Pursuant to distribution plans with the Company’s sponsored open-end funds, CSS receives distribution fees of up to 25bps for Class A shares and 75bps for Class C shares. CSS also receives shareholder servicing fees of up to 10bps on Class A shares and 25bps on Class C shares, pursuant to shareholder servicing plans with the funds. CSS receives combined distribution and shareholder servicing fees of up to 50bps for Class R shares. Distribution and Service Fee Expense —Distribution and service fee expense includes distribution fees, service fees and intermediary assistance payments. Distribution and service fee expense is recorded as incurred. Distribution fee expense represents 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 costs and 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 (Rule 12b-1). CSS pays distribution fee expense based on the average daily net assets under management of up to 25bps on Class A shares and 75bps on Class C shares. Shareholder servicing fee expense represents payments made to qualified intermediaries for shareholder account service and maintenance. These services are provided pursuant to written agreements with such qualified institutions. CSS pays service fee expenses based on the average daily net assets under management of up to 10bps on Class A shares and 25bps on Class C shares. CSS pays combined distribution and service fee expenses based on the average daily net assets under management of up to 50bps on Class R shares. Intermediary assistance payments represent payments to qualified intermediaries for activities related to distribution, shareholder servicing and marketing and support of Company-sponsored open-end funds and are incremental to those described above. Intermediary assistance payments are generally based on the average assets under management or the number of accounts being serviced. Portfolio Consulting and Other —The Company earns portfolio consulting and other fees by: (i) providing portfolio consulting services in connection with model-based strategy accounts; (ii) earning a licensing fee for the use of the Company's proprietary indexes; and (iii) providing portfolio monitoring services related to a number of unit investment trusts. This revenue is earned pursuant to the terms of the underlying contract, and the fee schedules for these relationships vary based on the type of services the Company provides for each relationship. This revenue is recognized as such fees are earned. Stock-based Compensation —The Company recognizes compensation expense for the grant-date fair value of awards of equity instruments to employees. This expense is recognized over the period during which employees are required to provide service. 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 represents the Company’s best estimate of the effective tax rate expected to be applied to the full fiscal year. The calculation of the tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations in a multitude of jurisdictions across our global operations. A tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis of the technical merits. 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 $(6,358,000) and $(6,845,000) as of March 31, 2017 and December 31, 2016 , respectively. Gains or losses resulting from non-U.S. dollar currency transactions are included in other non-operating income in the 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 includes net income or loss attributable to common stockholders, foreign currency translation gain and loss (net of tax), unrealized gain and loss from available-for-sale investments (net of tax) and reclassification to statements of operations of realized gain and loss from available-for-sale investments (net of tax). Recently Issued Accounting Pronouncements —In January 2017, the FASB issued guidance to simplify the impairment test by removing the requirement to perform a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. This new guidance will be effective for the Company’s first quarter of 2020. The Company is currently evaluating the potential effect of this new guidance on its condensed consolidated financial statements and related disclosures. In August 2016, the FASB issued new guidance amending the current guidance on the classification of certain cash receipts and payments in the statement of cash flows. This guidance is intended to unify the currently diverse presentations and classifications, which address eight classification issues related to the statement of cash flows, including debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. This new guidance will be effective for the Company’s first quarter of 2018 and requires a retrospective approach to adoption. The Company is currently evaluating the potential effect of this new guidance on its condensed consolidated financial statements and the related disclosures. In February 2016, the FASB issued guidance introducing a new lease model which requires all operating leases to be recorded on the balance sheet as right of use assets and offsetting lease liability obligations. The guidance requires disclosures by lessees and lessors to enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. This new guidance will be effective for the Company’s first quarter of 2019. The Company is currently evaluating the potential effect of this new guidance on its condensed consolidated financial statements and related disclosures. In January 2016, the FASB issued new guidance amending the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. This new guidance will be effective for the Company’s first quarter of 2018. Upon adoption of this guidance, changes in the fair value of the Company’s available-for-sale investments will be reported through earnings rather than through other comprehensive income. In May 2014, the FASB issued new guidance which outlined a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In March 2016, the FASB issued revised guidance which clarifies the guidance related to (a) determining the appropriate unit of account under the revenue standard’s principal versus agent guidance and (b) applying the indicators of whether an entity is a principal or an agent in accordance with the revenue standard’s control principle. In April 2016, the FASB issued an amendment to provide more detailed guidance including additional implementation guidance and examples related to a) identifying performance obligations and b) licenses of intellectual property. In May 2016, the FASB amended the standard to clarify the guidance on assessing collectibility, presenting sales taxes, measuring noncash consideration, and certain transition matters. This new guidance will be effective for the Company's first quarter of 2018 and requires either a retrospective or a modified retrospective approach to adoption. The Company’s implementation analysis is ongoing, however, it does not expect the adoption of the guidance to have a significant effect on the timing of the recognition of revenue. The Company is currently evaluating performance obligations and the related transaction costs. The overall effect upon adoption may change based on further analysis and implementation efforts. The Company has not yet determined which transition method will be employed.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill Goodwill represents the excess of purchase price over the net tangible assets and identifiable intangible assets of an acquired business. At March 31, 2017 and December 31, 2016 , goodwill was approximately $17,821,000 and $17,684,000 , respectively. The Company’s goodwill increased by $137,000 for the three months ended March 31, 2017 as a result of foreign currency revaluation. Intangible Assets The following table details the gross carrying amounts and accumulated amortization for the intangible assets at March 31, 2017 and December 31, 2016 (in thousands): Remaining Amortization Period (in months) Gross Carrying Amount Accumulated Amortization Intangible Assets, Net March 31, 2017: Amortized intangible assets: Client relationships 21 $ 1,543 $ (1,381 ) $ 162 Non-amortized intangible assets: Fund management contracts — 1,250 — 1,250 Total $ 2,793 $ (1,381 ) $ 1,412 December 31, 2016: Amortized intangible assets: Client relationships 24 $ 1,543 $ (1,359 ) $ 184 Non-amortized intangible assets: Fund management contracts — 1,250 — 1,250 Total $ 2,793 $ (1,359 ) $ 1,434 Amortization expenses related to the intangible assets was approximately $22,000 for both the three months ended March 31, 2017 and 2016 . Estimated future amortization expense is as follows (in thousands): Periods Ending December 31, Estimated Amortization Expense 2017 $ 67 2018 95 Total $ 162

Investments

Investments	3 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Investments	Investments The following is a summary of the Company’s investments as of March 31, 2017 and December 31, 2016 (in thousands): March 31, 2017 December 31, 2016 Trading investments $ 15,162 $ 12,689 Equity method investments 6,170 6,459 Available-for-sale investments 38,843 35,396 Gain (loss) from investments for the three months ended March 31, 2017 and 2016 are summarized below (in thousands): Three Months Ended 2017 2016 Gain (loss) from trading investments—net (1) $ 273 $ (207 ) Equity in (losses) earnings of affiliates (289 ) 427 Gain (loss) from available-for-sale investments—net 35 (30 ) Total gain from seed investments—net $ 19 $ 190 Number of new funds seeded 1 — _________________________ (1) Includes net income/(loss) attributable to redeemable noncontrolling interest for the periods presented. Voting Interest Entities The Cohen & Steers Funds ICAV (ICAV), an Irish alternative investment fund (AIF), and the Cohen & Steers Active Commodities Fund (Commodities Sub-Fund), a sub-fund within the ICAV, were launched by the Company in January 2017, and meet the definition of an investment company. The Company is the investment adviser of the Commodities Sub-Fund for which it receives a management fee. The ICAV and the Commodities Sub-Fund are each a VOE and the Company’s ownership interest in the ICAV is less than 20%; therefore, the Company records its investment in the Commodities Sub-Fund as an available-for-sale investment. The Cohen & Steers Low Duration Preferred and Income Fund, Inc. (LPX), launched by the Company in December 2015, is an open-end fund for which the Company is the investment adviser. LPX is a VOE and the Company owned the majority of the outstanding voting interests through February 29, 2016. Accordingly, the underlying assets and liabilities and results of operations of LPX had been included in the Company's consolidated financial statements with the third-party interests classified as redeemable noncontrolling interest. As a result of additional third-party subscriptions into the fund, effective March 1, 2016, the Company no longer owned the majority of the outstanding voting interest in LPX, however it was determined that the Company had significant influence over the financial decisions of LPX and therefore records its investment in LPX using the equity method of accounting. Effective October 1, 2016, the Company's ownership interest in LPX fell below 20% and the Company no longer had significant influence over LPX. Accordingly, the Company began recording its investment in LPX as an available-for-sale investment. The Cohen & Steers Active Commodities Strategy Fund, Inc. (CDF), launched by the Company in May 2014, is an open-end fund for which the Company is the investment adviser. CDF is a VOE and the Company owned the majority of the outstanding voting interests in the fund as of March 31, 2017 . Accordingly, the underlying assets and liabilities and results of operations of CDF have been included in the Company's condensed consolidated financial statements with the third-party interests classified as redeemable noncontrolling interest. The Cohen & Steers Active Commodities Fund, LP (ACOM), launched by the Company in April 2013, is structured as a partnership. The Company is the investment adviser of ACOM for which it is entitled to receive a management fee. The limited partners of ACOM, unaffiliated with the Company, have the ability to liquidate the fund with a majority vote. As a result, the Company does not have financial control and ACOM is a VOE. The Company's equity interest in ACOM represents a seed investment to launch the fund, adjusted for the Company's proportionate share of the fund's earnings. As of March 31, 2017 , the Company's ownership in ACOM was approximately 10% ; however, as the general partner, the Company has significant influence over the financial decisions of ACOM and therefore records its investment in ACOM using the equity method of accounting. The Cohen & Steers MLP & Energy Opportunity Fund, Inc. (MLO), launched by the Company in December 2013, is an open-end fund for which the Company is the investment adviser. MLO is a VOE. Effective November 1, 2014, as a result of its ownership interest, it was determined that the Company has significant influence over the financial decisions of MLO and therefore recorded its investment in MLO using the equity method of accounting. Effective June 1, 2016, the Company's ownership interest in MLO fell below 20% and the Company no longer had significant influence over MLO. Accordingly, the Company began recording its investment in MLO as an available-for-sale investment. Cohen & Steers Real Assets Fund, Inc. (RAP), launched by the Company in January 2012, is an open-end fund for which the Company is the investment adviser. RAP is a VOE. The Company recorded its investment in RAP as an available-for-sale investment until the fourth quarter of 2016 when the Company sold its remaining interest in RAP. Variable Interest Entities Cohen & Steers Global Realty Partners III-TE, L.P. (GRP-TE), which had its closing in October 2011, is structured as a partnership. The Company is the general partner and investment adviser of GRP-TE, for which it receives a management fee and is entitled to receive an incentive distribution, if earned. GRP-TE is a VIE and the Company is not the primary beneficiary. The Company's equity interest in GRP-TE represents a seed investment to launch the fund, adjusted for the Company’s proportionate share of the fund’s earnings. As of March 31, 2017 , the Company's ownership in GRP-TE was approximately 0.2% ; however, as the general partner, the Company has significant influence over the financial decisions of GRP-TE and therefore records its investment using the equity method of accounting. The Company's risk with respect to its investment in GRP-TE is limited to its equity ownership and any uncollected management fees. In conjunction with the launch of GRP-TE, the Company established Cohen & Steers Co-Investment Partnership, L.P. (GRP-CIP), which is used by the Company to fulfill its contractual commitment to co-invest with GRP-TE. See Note 11 for further discussion regarding the Company's co-investment commitment. GRP-CIP is a VIE and the Company is the primary beneficiary as it owns all of the voting interest in GRP-CIP. Accordingly, the underlying assets and liabilities and results of operations of GRP-CIP have been included in the Company's condensed consolidated financial statements. The Cohen & Steers SICAV Global Listed Infrastructure Fund (GLI SICAV), a Luxembourg-domiciled undertaking for collective investments in transferable securities (UCITS), was launched by the Company in September 2015, and meets the definition of an investment company. The Company is the investment adviser of GLI SICAV for which it receives a management fee. GLI SICAV is a VIE and the Company is the primary beneficiary. As of March 31, 2017 , the Company was the only investor in the fund and therefore, the Company would absorb all of the expected losses and residual returns of GLI SICAV. Accordingly, the underlying assets and liabilities and results of operations of GLI SICAV have been included in the Company’s condensed consolidated financial statements. The following represents the portion of the condensed consolidated statements of financial condition attributable to the consolidated VIEs as of March 31, 2017 and December 31, 2016 . 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 (in thousands): March 31, 2017 December 31, 2016 GRP-CIP GLI SICAV GRP-CIP GLI SICAV Assets: Trading investments $ 2,239 $ 5,395 $ 1,918 $ 5,069 Due from broker 263 257 294 181 Other assets — 40 — 43 Total assets $ 2,502 $ 5,692 $ 2,212 $ 5,293 Liabilities: Due to broker $ — $ — $ — $ — Other liabilities and accrued expenses 5 70 5 70 Total liabilities $ 5 $ 70 $ 5 $ 70 The following is a summary of the fair value of trading investments and equity method investments as of March 31, 2017 and December 31, 2016 (in thousands): March 31, 2017 December 31, 2016 Trading Investments Equity Method Investments Trading Investments Equity Method Investments Voting Interest Entities ACOM $ — $ 6,069 $ — $ 6,371 CDF 7,528 — 5,702 — Variable Interest Entities GLI SICAV 5,395 — 5,069 — GRP-CIP 2,239 — 1,918 — GRP-TE — 101 — 88 Total $ 15,162 $ 6,170 $ 12,689 $ 6,459 Gain (loss) from trading investments—net for the three months ended March 31, 2017 and 2016, which represent realized and unrealized gains and losses recorded by the funds the Company consolidates, are summarized below (in thousands): Three Months Ended 2017 2016 Voting Interest Entities CDF $ (425 ) $ 100 LPX — (769 ) Variable Interest Entities GLI SICAV 401 392 GRP-CIP 297 70 Total gain (loss) from trading investments—net $ 273 $ (207 ) Equity in earnings (losses) of affiliates for the three months ended March 31, 2017 and 2016 are summarized below (in thousands): Three Months Ended 2017 2016 Voting Interest Entities ACOM $ (302 ) $ 76 LPX — 246 MLO — 119 Variable Interest Entities GRP-TE 13 (14 ) Total equity in (losses) earnings of affiliates $ (289 ) $ 427 The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments as of March 31, 2017 and December 31, 2016 (in thousands): March 31, 2017 Cost Gross Unrealized Gains Gross Unrealized Losses (1) Fair Value Preferred securities $ 1,072 $ 34 $ (3 ) $ 1,103 Common stocks 8,424 337 (254 ) 8,507 Fixed income 3,759 10 (8 ) 3,761 Company-sponsored funds 23,366 2,010 (12 ) 25,364 Other 100 8 — 108 Total available-for-sale investments $ 36,721 $ 2,399 $ (277 ) $ 38,843 _________________________ (1) At March 31, 2017 , there were no securities with material unrealized losses continuously for a period of more than 12 months. December 31, 2016 Cost Gross Unrealized Gains Gross (1) Fair Value Preferred securities $ 1,020 $ 13 $ (22 ) $ 1,011 Common stocks 4,639 194 (325 ) 4,508 Company-sponsored funds 28,232 1,755 (110 ) 29,877 Total available-for-sale investments $ 33,891 $ 1,962 $ (457 ) $ 35,396 __ _______________________ (1) At December 31, 2016 , there were no securities with unrealized losses continuously for a period of more than 12 months. Available-for-sale investments with a fair value of approximately $6,622,000 and $18,521,000 at March 31, 2017 and December 31, 2016 , respectively, were in an unrealized loss position. Unrealized losses on available-for-sale investments as of March 31, 2017 were generally caused by market conditions. When evaluating whether an unrealized loss on an available-for-sale investment is other than temporary, the Company reviews such factors as the extent and duration of the loss, as well as qualitative and quantitative information about the financial condition and near term prospects of the funds. As of March 31, 2017 , the Company determined that it had the ability and intent to hold the remaining available-for-sale investments for which no other-than-temporary impairment has occurred until a recovery of fair value. Accordingly, impairment of these investments is considered temporary. Sales proceeds, gross realized gains and losses from available-for-sale investments for the three months ended March 31, 2017 and 2016 are summarized below (in thousands): Three Months Ended 2017 2016 Proceeds from sales $ 6,886 $ 1,955 Gross realized gains 98 150 Gross realized losses (63 ) (180 )

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2017
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. In determining the appropriate levels, the Company performed a detailed analysis of the assets and liabilities that are subject to ASC 820. Transfers among levels, if any, are recorded as of the beginning of the reporting period. There were no transfers between level 1 and level 2 during the period ended March 31, 2017. The following table presents fair value measurements as of March 31, 2017 (in thousands): Level 1 Level 2 Level 3 Investments Measured at NAV (2) Total Cash equivalents (1) $ 121,598 $ — $ — $ — $ 121,598 Trading investments Common stocks $ 5,395 $ — $ — $ — $ 5,395 Fixed income securities — 7,528 — — 7,528 Limited partnership interests — — 1,476 763 2,239 Total trading investments $ 5,395 $ 7,528 $ 1,476 $ 763 $ 15,162 Equity method investments $ — $ — $ — $ 6,170 $ 6,170 Available-for-sale investments Preferred securities $ 981 $ 122 $ — $ — $ 1,103 Common stocks 8,507 — — — 8,507 Fixed income securities — 3,761 — — 3,761 Company-sponsored funds 25,364 — — — 25,364 Other — — — 108 108 Total available-for-sale investments $ 34,852 $ 3,883 $ — $ 108 $ 38,843 Derivatives - assets Foreign exchange contracts $ — $ 562 $ — $ — $ 562 Commodity contracts 108 — — — 108 Total derivatives - assets $ 108 $ 562 $ — $ — $ 670 Derivatives - liabilities Commodity contracts $ 385 $ — $ — $ — $ 385 Total derivatives - liabilities $ 385 $ — $ — $ — $ 385 _________________________ (1) Comprised of investments in actively traded U.S. Treasury money market funds measured at NAV. (2) Comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. These investments have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the condensed consolidated statement of financial position. Trading investments classified as level 2 in the above table were comprised of United States Treasury Bills carried at amortized cost, which approximates fair value. Trading investments classified as level 3 in the above table were comprised of limited partnership interests which represent the Company's co-investments through GRP-CIP in limited partnership vehicles that invest in private equity vehicles that invest directly in real estate which are generally valued using a discounted cash flow model. Trading investments classified as investments measured at NAV (or its equivalent) as a practical expedient in the above table were comprised of limited partnership interests which represent the Company's co-investments through GRP-CIP in limited partnership vehicles that invest in non-registered real estate funds, which are valued based on the NAVs of the underlying funds. As of March 31, 2017 , the Company did not have the ability to redeem these interests. Equity method investments classified as investments measured at NAV (or its equivalent) as a practical expedient in the above table were comprised of the Company's partnership interests in ACOM and GRP-TE, which approximate their fair value based on the funds' NAVs. ACOM invests in exchange-traded commodity futures contracts and other commodity related derivatives. The Company has the ability to redeem its investment in ACOM monthly at NAV with prior written notice of 5 days and there are no significant restrictions to redemption. GRP-TE invests in non-registered real estate funds and in private equity vehicles that invest directly in real estate. As of March 31, 2017 , the Company did not have the ability to redeem its investment in GRP-TE. Available-for-sale investments classified as level 2 in the above table were primarily comprised of corporate bonds with the fair value 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. Available-for-sale investments classified as investments measured at NAV (or its equivalent) as a practical expedient in the above table were comprised of the Company’s co-investment in a Cayman trust invested in global listed infrastructure securities. The following table presents fair value measurements as of December 31, 2016 (in thousands): Level 1 Level 2 Level 3 Investments Measured at NAV (2) Total Cash equivalents (1) $ 140,872 $ — $ — $ — $ 140,872 Trading investments Common stocks $ 5,069 $ — $ — $ — $ 5,069 Fixed income securities — 5,702 — — 5,702 Limited partnership interests — — 1,196 722 1,918 Total trading investments $ 5,069 $ 5,702 $ 1,196 $ 722 $ 12,689 Equity method investments $ — $ — $ — $ 6,459 $ 6,459 Available-for-sale investments Preferred securities $ 1,001 $ 10 $ — $ — $ 1,011 Common stocks 4,508 — — — 4,508 Company-sponsored funds 29,877 — — — 29,877 Total available-for-sale investments $ 35,386 $ 10 $ — $ — $ 35,396 Derivatives - assets Foreign exchange contracts $ — $ 1,417 $ — $ — $ 1,417 Commodity contracts 343 — — — 343 Total derivatives - assets $ 343 $ 1,417 $ — $ — $ 1,760 Derivatives - liabilities Commodity contracts $ 266 $ — $ — $ — $ 266 Total derivatives - liabilities $ 266 $ — $ — $ — $ 266 _________________________ (1) Comprised of investments in actively traded U.S. Treasury money market funds measured at NAV. (2) Comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. These investments have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the condensed consolidated statement of financial position. Trading investments classified as level 2 in the above table were comprised of United States Treasury Bills carried at amortized cost, which approximates fair value. Trading investments classified as level 3 in the above table were comprised of limited partnership interests which represent the Company's co-investments through GRP-CIP in limited partnership vehicles that invest in private equity vehicles that invest directly in real estate which are generally valued using a discounted cash flow model. Trading investments classified as investments measured at NAV (or its equivalent) as a practical expedient in the above table were comprised of limited partnership interests which represent the Company's co-investments through GRP-CIP in limited partnership vehicles that invest in non-registered real estate funds, which are valued based on the NAVs of the underlying funds. As of December 31, 2016 , the Company did not have the ability to redeem these interests. Equity method investments classified as investments measured at NAV (or its equivalent) as a practical expedient in the above table were comprised of the Company's partnership interests in ACOM and GRP-TE, which approximate their fair value based on the funds' NAVs. ACOM invests in exchange-traded commodity futures contracts and other commodity related derivatives. The Company has the ability to redeem its investment in ACOM monthly at NAV with prior written notice of 5 days and there are no significant restrictions to redemption. GRP-TE invests in non-registered real estate funds and in private equity vehicles that invest directly in real estate. As of December 31, 2016 , the Company did not have the ability to redeem its investment in GRP-TE. The following table summarizes the changes in level 3 investments measured at fair value on a recurring basis for the three months ended March 31, 2017 and 2016 (in thousands): Three Months Ended 2017 2016 Trading Investments Limited Partnership Interests Balance at beginning of period $ 1,196 $ 1,312 Purchases / contributions 24 — Sales / distributions — — Realized gains (losses) — — Unrealized gains (losses) (1) 256 26 Transfers into (out of) level 3 — — Balance at end of period $ 1,476 $ 1,338 _________________________ (1) Pertains to unrealized gains (losses) from securities held at March 31, 2017 and March 31, 2016 . Realized and unrealized gains (losses) from investments classified as trading investments in the above table were recorded as gain (loss) from trading investments in the Company's condensed consolidated statements of operations. Valuation Techniques In certain instances, debt and equity securities are valued on the basis of prices from an orderly transaction between market participants provided by reputable brokers/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. Foreign exchange contracts are valued by interpolating a value using the spot foreign exchange rate and forward points (based on the spot rate and currency rate differentials), which are all inputs that are observable in active markets (level 2). 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 involves a significant degree of judgment, taking into consideration a combination of internal and external factors. Such investments 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. The valuation techniques and significant unobservable inputs used in the fair value measurement of the following level 3 investments as of March 31, 2017 were: Fair Value Fair Value Significant Input / (in thousands) Methodology Unobservable Inputs Range Limited partnership interests - direct investments in real estate $ 1,476 Discounted cash flows Discount rates Exit capitalization rates Market rental rates 11% - 12.5% The valuation techniques and significant unobservable inputs used in the fair value measurement of the following level 3 investments as of December 31, 2016 were: Fair Value Fair Value Significant Input / (in thousands) Methodology Unobservable Inputs Range Limited partnership interests - direct investments in real estate $ 1,196 Discounted cash flows Discount rates Exit capitalization rates Market rental rates 11% - 12.5% 8% - 8.5% $14.00 - 17.00 psf Changes in the significant unobservable inputs in the tables above may result in a materially higher or lower fair value measurement.

Derivatives

Derivatives	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives The following is a summary of the notional and fair value of the derivative financial instruments. The notional amount represents the absolute value amount of all outstanding derivative contracts as of March 31, 2017 (in thousands): March 31, 2017 Assets Liabilities Notional Fair Value Notional Fair Value Total foreign exchange contracts $ 20,828 $ 562 $ — $ — Total commodity contracts 4,644 108 8,763 385 Total derivatives $ 25,472 $ 670 $ 8,763 $ 385 The following is a summary of the notional and fair value of the derivative financial instruments. The notional amount represents the absolute value amount of all outstanding derivative contracts as of December 31, 2016 (in thousands): December 31, 2016 Assets Liabilities Notional Fair Value Notional Fair Value Total foreign exchange contracts $ 13,839 $ 1,417 $ — $ — Total commodity contracts 6,538 343 4,825 266 Total derivatives $ 20,377 $ 1,760 $ 4,825 $ 266 Cash included in due from broker in the condensed consolidated statement of financial condition of approximately $278,000 as of March 31, 2017 was held as collateral for futures contracts. Securities included in trading investments in the condensed consolidated statement of financial condition of approximately $637,000 and $487,000 as of March 31, 2017 and December 31, 2016 , respectively, were held as collateral for futures contracts. Gains (losses) from derivative financial instruments for the three months ended March 31, 2017 and 2016 are summarized below (in thousands): Three Months Ended 2017 2016 Foreign exchange contracts $ (855 ) $ (1,256 ) Commodity contracts (447 ) 100 Total losses from derivatives $ (1,302 ) $ (1,156 )

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2017
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. Common stock equivalents are comprised of dilutive potential shares from restricted stock unit awards. Common stock equivalents are excluded from the computation if their effect is anti-dilutive. Diluted earnings per share is computed using the treasury stock method. Anti-dilutive common stock equivalents of approximately 17,000 and 56,000 shares were excluded from the computation for the three months ended March 31, 2017 and 2016, respectively. The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations for the three months ended March 31, 2017 and 2016 (in thousands, except per share data): Three Months Ended 2017 2016 Net income $ 22,944 $ 17,867 Less: Net loss attributable to redeemable noncontrolling interest 41 216 Net income attributable to common stockholders $ 22,985 $ 18,083 Basic weighted average shares outstanding 46,243 45,808 Dilutive potential shares from restricted stock units 360 387 Diluted weighted average shares outstanding 46,603 46,195 Basic earnings per share attributable to common stockholders $ 0.50 $ 0.39 Diluted earnings per share attributable to common stockholders $ 0.49 $ 0.39

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes includes U.S. federal, state, local and foreign taxes. The effective tax rate was approximately 35.8% for the three months ended March 31, 2017 , which differs from the U.S. federal statutory rate primarily due to discrete items recorded during the quarter. The effective rate for the three months ended March 31, 2016 was approximately 38.0% . 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 at December 31, 2016 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.

Regulatory Requirements

Regulatory Requirements	3 Months Ended
	Mar. 31, 2017
Regulatory Capital Requirements [Abstract]
Regulatory Requirements	Regulatory Requirements CSS, a registered broker-dealer in the U.S., is subject to the SEC’s Uniform Net Capital Rule 15c3-1 (the Rule), which requires that broker-dealers maintain a minimum level of net capital, as prescribed under the Rule. As of March 31, 2017 , CSS had net capital of approximately $4,025,000 , which exceeded its requirements by approximately $3,845,000 . The Rule also provides that equity capital may not be withdrawn or cash dividends paid if the resulting net capital of a broker-dealer is less than the amount required under the Rule and requires prior notice to the SEC for certain withdrawals of capital. CSS does not carry customer accounts and is exempt from SEC Rule 15c3-3 pursuant to provisions (k)(1) and (k)(2)(i) of such rule. CSAL and CSUK are regulated outside the U.S. by the Hong Kong Securities and Futures Commission and the United Kingdom Financial Conduct Authority, respectively. As of March 31, 2017 , CSAL and CSUK had aggregate regulatory capital of approximately $70,053,000 , which exceeded aggregate regulatory capital requirements by approximately $67,216,000 .

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company is an investment adviser to, and has administrative agreements with, affiliated funds for which certain employees are officers and/or directors. The following table sets forth the amount of revenue the Company earned from these affiliated funds for the three months ended March 31, 2017 and 2016 (in thousands): Three Months Ended 2017 2016 Investment advisory and administration fees $ 57,400 $ 51,911 Distribution and service fees 5,046 4,233 $ 62,446 $ 56,144 Sales proceeds, gross realized gains, gross realized losses and dividend income from available-for-sale investments in Company-sponsored funds for the three months ended March 31, 2017 and 2016 are summarized below (in thousands): Three Months Ended 2017 2016 Proceeds from sales $ 5,035 $ — Gross realized gains 20 — Gross realized losses — — Dividend income 255 — The Company has agreements with certain affiliated open-end and closed-end funds to reimburse certain fund expenses. For the three months ended March 31, 2017 and 2016 , expenses of approximately $2,373,000 and $ 2,034,000 , respectively, were incurred by the Company pursuant to these agreements and are included in general and administrative expenses. Included in accounts receivable at March 31, 2017 and December 31, 2016 are receivables due from Company-sponsored funds of approximately $20,792,000 and $20,221,000 , respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Rent expense charged to operations, including escalation charges for real estate and other expenses, totaled approximately $2,800,000 for both the three months ended March 31, 2017 and 2016. 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 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 March 31, 2017 , the Company has funded approximately $3.5 million of 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 and co-investments in which GRP-TE invests. The unfunded commitment was not recorded on the Company's condensed consolidated statements of financial condition as of March 31, 2017 .

Concentration of Credit Risk

Concentration of Credit Risk	3 Months Ended
	Mar. 31, 2017
Risks and Uncertainties [Abstract]
Concentration of Credit Risk	Concentration of Credit Risk The Company's cash and cash equivalents are principally on deposit with three major financial institutions. The Company is subject to credit risk should these financial institutions be unable to fulfill their obligations.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
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 May 4, 2017, CNS declared a quarterly dividend on its common stock in the amount of $0.28 per share. The dividend will be payable on June 22, 2017 to stockholders of record at the close of business on June 1, 2017.

Basis of Presentation and Sig22

Basis of Presentation and Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements Adopted	New Accounting Pronouncements Adopted —In March 2016, the Financial Accounting Standards Board (FASB) issued new guidance amending the current accounting for an investment that becomes qualified for the equity method of accounting. The guidance requires that the cost of acquiring an additional interest in the investment, if any, that resulted in it qualifying for the equity method be added to the carrying value of the investment. The equity method will then be applied from that point forward without any retroactive application or adjustment. This new guidance was effective for the Company's first quarter of 2017. The adoption of this new guidance did not have a material impact on its condensed consolidated financial statements and related disclosures. In March 2016, the FASB issued new guidance which simplifies several aspects of the accounting for share-based payment transactions, including the accounting for income taxes, excess tax benefits, forfeitures and statutory tax withholding requirements, as well as classification in the statement of cash flows. The Company adopted this guidance on January 1, 2017. Prospectively beginning January 1, 2017, excess tax benefits or tax deficiencies are now reflected in the condensed consolidated statements of operations as a component of the provision for income taxes. For the three months ended March 31, 2017, the Company recognized $54,000 of excess tax benefits. Additionally, the condensed consolidated statement of cash flows now reflects excess tax benefits from share-based payments as an operating activity, rather than a financing activity. Finally, the Company elected to account for forfeitures as they occur, rather than estimate expected forfeitures. As a result, the Company reclassified $285,000 from additional paid-in capital to retained earnings.
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.
Consolidation of Company-sponsored Funds	Consolidation of Company-sponsored Funds —The Company consolidates entities, including sponsored funds, that are deemed to be voting interest entities (VOE) when it has financial control over the entity which is generally when the Company owns a majority of the outstanding voting interest. Investments in Company-sponsored funds and management fees are evaluated at inception and subsequently if there is a reconsideration event to determine if the fund is a Variable Interest Entities (VIEs) or VOE and which consolidation model to apply. All of the Company's management fees are presumed to be commensurate and at market and are therefore not considered variable interests. 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 subsidiaries for which the Company’s ownership is less than 100 percent.
VIE	A VIE is an entity in which either (a) the equity investment at risk is not sufficient to permit the entity to finance its own activities without additional financial support or (b) 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 (a) the power to direct the activities of the VIE that most significantly affect its performance and (b) 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. Investments 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.
Cash and Cash Equivalents	Cash and Cash Equivalents —Cash equivalents consist of 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 conducts business, primarily with respect to its consolidated seed investments, with brokers for certain of its 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 cash equivalents balances at brokers/custodians and/or receivables and payables for unsettled securities transactions.
Investments	Investments —Management of the Company determines the appropriate classification of its investments at the time of purchase and re-evaluates such determination at each statement of financial condition date. Investments classified as trading represent securities held within the affiliated funds that the Company consolidates and are measured at fair value based on quoted market prices, market prices obtained from independent pricing services engaged by management or as determined by management and approved by the Company’s valuation committee. Unrealized gains and losses are recorded as gain (loss) from trading investments—net in the Company’s condensed consolidated statements of operations. Investments classified as equity method investments represent seed investments in which the Company owns between 20-50% of the outstanding voting interests in the affiliated fund 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 the affiliated investee fund net income or loss for the period which is recorded as equity in earnings (losses) of affiliates in the Company’s condensed consolidated statements of operations. As of March 31, 2017 , the Company's equity method investments consisted of interests in affiliated funds which measure their underlying investments at fair value based on quoted market prices or NAV (or its equivalent) as a practical expedient and report a net asset value on a recurring basis. The carrying amounts of these investments approximate their fair value. Investments classified as available-for-sale are comprised of equity securities, fixed income securities, investment-grade preferred instruments and investments in Company-sponsored open-end funds where the Company has neither control nor the ability to exercise significant influence. These investments are carried at fair value based on quoted market prices or market prices obtained from independent pricing services engaged by management, with unrealized gains and losses, net of tax, reported in accumulated other comprehensive income. The Company periodically reviews each individual security position that has an unrealized loss, or impairment, to determine if that impairment is other than temporary. If the Company believes an impairment of a security position is other than temporary, based on available quantitative and qualitative information as of the report date, the loss will be recognized as gain (loss) from available-for-sale investments—net in the Company’s condensed consolidated statements of operations. From time to time, the affiliated funds consolidated by the Company enter into derivative contracts to gain exposure to the underlying commodities markets or to hedge market and credit risks of the underlying portfolios utilizing options, total return swaps, credit default swaps and futures contracts. These instruments are measured at fair value based on their settlement price at the close of trading on the associated commodities exchange or board of trade with gains and losses recorded as gain (loss) from trading 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 in the Company’s condensed consolidated statements of financial condition. As of March 31, 2017 , none of the outstanding derivative contracts were subject to a master netting agreement or other similar arrangement. Additionally, from time to time, the Company enters into foreign exchange contracts to hedge its currency exposure related to certain client receivables. These instruments are measured at fair value with gains and losses recorded in other non-operating income 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 in the Company's condensed consolidated statements of financial condition.
Goodwill and Intangible Assets	Goodwill and Intangible Assets —Goodwill represents the excess of the cost of the Company’s investment in the net assets of an acquired company over the fair value of the underlying identifiable net assets at the date of acquisition. Goodwill and indefinite lived intangible assets are not amortized but are tested at least annually for impairment by comparing the fair value to their carrying amounts. Finite lived intangible assets are amortized over their useful lives and are tested for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. See Note 3 for further discussion about the Company’s goodwill and intangible assets.
Redeemable Noncontrolling Interest	Redeemable Noncontrolling Interest —Redeemable noncontrolling interest represents third-party interests in the Company’s consolidated entities. This interest is redeemable at the option of the investors and therefore is not treated as permanent equity. Redeemable noncontrolling interest is remeasured at redemption value which approximates the fair value at each reporting period.
Investment Advisory and Administrative Fees	Investment Advisory and Administration Fees —The Company earns revenue by providing asset management services to institutional accounts and to Company-sponsored open-end and closed-end funds. Investment advisory fees are earned pursuant to the terms of investment management agreements, and are based on a contractual fee rate applied to the assets in the portfolio. 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 assets under management of such funds. Investment advisory and administration fee revenue is recognized as such fees are earned.
Distribution and Service Fee Revenue	Distribution and Service Fee Revenue —CSS acts as the principal distributor of the Company’s sponsored open-end funds which may offer the following classes: Class A (initial sales load), Class C (back-end sales load), Class R (load retirement) and Class Z (no load retirement). Distribution and service fee revenue is based on the average daily net assets of the funds as detailed below. 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. Pursuant to distribution plans with the Company’s sponsored open-end funds, CSS receives distribution fees of up to 25bps for Class A shares and 75bps for Class C shares. CSS also receives shareholder servicing fees of up to 10bps on Class A shares and 25bps on Class C shares, pursuant to shareholder servicing plans with the funds. CSS receives combined distribution and shareholder servicing fees of up to 50bps for Class R shares.
Distribution and Service Fee Expense	Distribution and Service Fee Expense —Distribution and service fee expense includes distribution fees, service fees and intermediary assistance payments. Distribution and service fee expense is recorded as incurred. Distribution fee expense represents 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 costs and 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 (Rule 12b-1). CSS pays distribution fee expense based on the average daily net assets under management of up to 25bps on Class A shares and 75bps on Class C shares. Shareholder servicing fee expense represents payments made to qualified intermediaries for shareholder account service and maintenance. These services are provided pursuant to written agreements with such qualified institutions. CSS pays service fee expenses based on the average daily net assets under management of up to 10bps on Class A shares and 25bps on Class C shares. CSS pays combined distribution and service fee expenses based on the average daily net assets under management of up to 50bps on Class R shares. Intermediary assistance payments represent payments to qualified intermediaries for activities related to distribution, shareholder servicing and marketing and support of Company-sponsored open-end funds and are incremental to those described above. Intermediary assistance payments are generally based on the average assets under management or the number of accounts being serviced.
Portfolio Consulting and Other	Portfolio Consulting and Other —The Company earns portfolio consulting and other fees by: (i) providing portfolio consulting services in connection with model-based strategy accounts; (ii) earning a licensing fee for the use of the Company's proprietary indexes; and (iii) providing portfolio monitoring services related to a number of unit investment trusts. This revenue is earned pursuant to the terms of the underlying contract, and the fee schedules for these relationships vary based on the type of services the Company provides for each relationship. This revenue is recognized as such fees are earned.
Stock-based Compensation	Stock-based Compensation —The Company recognizes compensation expense for the grant-date fair value of awards of equity instruments to employees. This expense is recognized over the period during which employees are required to provide service.
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 represents the Company’s best estimate of the effective tax rate expected to be applied to the full fiscal year. The calculation of the tax liabilities involves dealing with uncertainties in the application of complex tax laws and regulations in a multitude of jurisdictions across our global operations. A tax benefit from an uncertain tax position may be recognized when it is more likely than not that the position will be sustained upon examination, including resolutions of any related appeals or litigation processes, on the basis of the technical merits.
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 $(6,358,000) and $(6,845,000) as of March 31, 2017 and December 31, 2016 , respectively. Gains or losses resulting from non-U.S. dollar currency transactions are included in other non-operating income in the 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 includes net income or loss attributable to common stockholders, foreign currency translation gain and loss (net of tax), unrealized gain and loss from available-for-sale investments (net of tax) and reclassification to statements of operations of realized gain and loss from available-for-sale investments (net of tax).
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements —In January 2017, the FASB issued guidance to simplify the impairment test by removing the requirement to perform a hypothetical purchase price allocation. A goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. This new guidance will be effective for the Company’s first quarter of 2020. The Company is currently evaluating the potential effect of this new guidance on its condensed consolidated financial statements and related disclosures. In August 2016, the FASB issued new guidance amending the current guidance on the classification of certain cash receipts and payments in the statement of cash flows. This guidance is intended to unify the currently diverse presentations and classifications, which address eight classification issues related to the statement of cash flows, including debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, distributions received from equity method investees, beneficial interests in securitization transactions, and separately identifiable cash flows and application of the predominance principle. This new guidance will be effective for the Company’s first quarter of 2018 and requires a retrospective approach to adoption. The Company is currently evaluating the potential effect of this new guidance on its condensed consolidated financial statements and the related disclosures. In February 2016, the FASB issued guidance introducing a new lease model which requires all operating leases to be recorded on the balance sheet as right of use assets and offsetting lease liability obligations. The guidance requires disclosures by lessees and lessors to enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. This new guidance will be effective for the Company’s first quarter of 2019. The Company is currently evaluating the potential effect of this new guidance on its condensed consolidated financial statements and related disclosures. In January 2016, the FASB issued new guidance amending the accounting for equity investments, financial liabilities under the fair value option, and the presentation and disclosure requirements for financial instruments. In addition, the FASB clarified guidance related to the valuation allowance assessment when recognizing deferred tax assets resulting from unrealized losses on available-for-sale debt securities. This new guidance will be effective for the Company’s first quarter of 2018. Upon adoption of this guidance, changes in the fair value of the Company’s available-for-sale investments will be reported through earnings rather than through other comprehensive income. In May 2014, the FASB issued new guidance which outlined a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The core principle of the revenue model is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In March 2016, the FASB issued revised guidance which clarifies the guidance related to (a) determining the appropriate unit of account under the revenue standard’s principal versus agent guidance and (b) applying the indicators of whether an entity is a principal or an agent in accordance with the revenue standard’s control principle. In April 2016, the FASB issued an amendment to provide more detailed guidance including additional implementation guidance and examples related to a) identifying performance obligations and b) licenses of intellectual property. In May 2016, the FASB amended the standard to clarify the guidance on assessing collectibility, presenting sales taxes, measuring noncash consideration, and certain transition matters. This new guidance will be effective for the Company's first quarter of 2018 and requires either a retrospective or a modified retrospective approach to adoption. The Company’s implementation analysis is ongoing, however, it does not expect the adoption of the guidance to have a significant effect on the timing of the recognition of revenue. The Company is currently evaluating performance obligations and the related transaction costs. The overall effect upon adoption may change based on further analysis and implementation efforts. The Company has not yet determined which transition method will be employed.
Valuation Techniques	Valuation Techniques In certain instances, debt and equity securities are valued on the basis of prices from an orderly transaction between market participants provided by reputable brokers/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. Foreign exchange contracts are valued by interpolating a value using the spot foreign exchange rate and forward points (based on the spot rate and currency rate differentials), which are all inputs that are observable in active markets (level 2). 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 involves a significant degree of judgment, taking into consideration a combination of internal and external factors. Such investments 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.

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	The following table details the gross carrying amounts and accumulated amortization for the intangible assets at March 31, 2017 and December 31, 2016 (in thousands): Remaining Amortization Period (in months) Gross Carrying Amount Accumulated Amortization Intangible Assets, Net March 31, 2017: Amortized intangible assets: Client relationships 21 $ 1,543 $ (1,381 ) $ 162 Non-amortized intangible assets: Fund management contracts — 1,250 — 1,250 Total $ 2,793 $ (1,381 ) $ 1,412 December 31, 2016: Amortized intangible assets: Client relationships 24 $ 1,543 $ (1,359 ) $ 184 Non-amortized intangible assets: Fund management contracts — 1,250 — 1,250 Total $ 2,793 $ (1,359 ) $ 1,434
Schedule Future Amortization Expense	Estimated future amortization expense is as follows (in thousands): Periods Ending December 31, Estimated Amortization Expense 2017 $ 67 2018 95 Total $ 162

Investments (Tables)

Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Summary Investment Holdings	The following is a summary of the Company’s investments as of March 31, 2017 and December 31, 2016 (in thousands): March 31, 2017 December 31, 2016 Trading investments $ 15,162 $ 12,689 Equity method investments 6,170 6,459 Available-for-sale investments 38,843 35,396
Gain (Loss) on Investments	Gain (loss) from investments for the three months ended March 31, 2017 and 2016 are summarized below (in thousands): Three Months Ended 2017 2016 Gain (loss) from trading investments—net (1) $ 273 $ (207 ) Equity in (losses) earnings of affiliates (289 ) 427 Gain (loss) from available-for-sale investments—net 35 (30 ) Total gain from seed investments—net $ 19 $ 190 Number of new funds seeded 1 — _________________________ (1) Includes net income/(loss) attributable to redeemable noncontrolling interest for the periods presented.
Schedule of Variable Interest Entities	The following represents the portion of the condensed consolidated statements of financial condition attributable to the consolidated VIEs as of March 31, 2017 and December 31, 2016 . 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 (in thousands): March 31, 2017 December 31, 2016 GRP-CIP GLI SICAV GRP-CIP GLI SICAV Assets: Trading investments $ 2,239 $ 5,395 $ 1,918 $ 5,069 Due from broker 263 257 294 181 Other assets — 40 — 43 Total assets $ 2,502 $ 5,692 $ 2,212 $ 5,293 Liabilities: Due to broker $ — $ — $ — $ — Other liabilities and accrued expenses 5 70 5 70 Total liabilities $ 5 $ 70 $ 5 $ 70
Schedule of Fair Value of Trading Investments and Equity Method Method Investments	The following is a summary of the fair value of trading investments and equity method investments as of March 31, 2017 and December 31, 2016 (in thousands): March 31, 2017 December 31, 2016 Trading Investments Equity Method Investments Trading Investments Equity Method Investments Voting Interest Entities ACOM $ — $ 6,069 $ — $ 6,371 CDF 7,528 — 5,702 — Variable Interest Entities GLI SICAV 5,395 — 5,069 — GRP-CIP 2,239 — 1,918 — GRP-TE — 101 — 88 Total $ 15,162 $ 6,170 $ 12,689 $ 6,459
Trading Investments	Gain (loss) from trading investments—net for the three months ended March 31, 2017 and 2016, which represent realized and unrealized gains and losses recorded by the funds the Company consolidates, are summarized below (in thousands): Three Months Ended 2017 2016 Voting Interest Entities CDF $ (425 ) $ 100 LPX — (769 ) Variable Interest Entities GLI SICAV 401 392 GRP-CIP 297 70 Total gain (loss) from trading investments—net $ 273 $ (207 )
Schedule of Equity in Earnings (Losses) of Affiliates	Equity in earnings (losses) of affiliates for the three months ended March 31, 2017 and 2016 are summarized below (in thousands): Three Months Ended 2017 2016 Voting Interest Entities ACOM $ (302 ) $ 76 LPX — 246 MLO — 119 Variable Interest Entities GRP-TE 13 (14 ) Total equity in (losses) earnings of affiliates $ (289 ) $ 427
Schedule of Available-for-sale Investments Reconciliation	The following is a summary of the cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale investments as of March 31, 2017 and December 31, 2016 (in thousands): March 31, 2017 Cost Gross Unrealized Gains Gross Unrealized Losses (1) Fair Value Preferred securities $ 1,072 $ 34 $ (3 ) $ 1,103 Common stocks 8,424 337 (254 ) 8,507 Fixed income 3,759 10 (8 ) 3,761 Company-sponsored funds 23,366 2,010 (12 ) 25,364 Other 100 8 — 108 Total available-for-sale investments $ 36,721 $ 2,399 $ (277 ) $ 38,843 _________________________ (1) At March 31, 2017 , there were no securities with material unrealized losses continuously for a period of more than 12 months. December 31, 2016 Cost Gross Unrealized Gains Gross (1) Fair Value Preferred securities $ 1,020 $ 13 $ (22 ) $ 1,011 Common stocks 4,639 194 (325 ) 4,508 Company-sponsored funds 28,232 1,755 (110 ) 29,877 Total available-for-sale investments $ 33,891 $ 1,962 $ (457 ) $ 35,396 __ _______________________ (1) At December 31, 2016 , there were no securities with unrealized losses continuously for a period of more than 12 months.
Realized Gain (Loss) on Investments	Sales proceeds, gross realized gains and losses from available-for-sale investments for the three months ended March 31, 2017 and 2016 are summarized below (in thousands): Three Months Ended 2017 2016 Proceeds from sales $ 6,886 $ 1,955 Gross realized gains 98 150 Gross realized losses (63 ) (180 )

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	The following table presents fair value measurements as of March 31, 2017 (in thousands): Level 1 Level 2 Level 3 Investments Measured at NAV (2) Total Cash equivalents (1) $ 121,598 $ — $ — $ — $ 121,598 Trading investments Common stocks $ 5,395 $ — $ — $ — $ 5,395 Fixed income securities — 7,528 — — 7,528 Limited partnership interests — — 1,476 763 2,239 Total trading investments $ 5,395 $ 7,528 $ 1,476 $ 763 $ 15,162 Equity method investments $ — $ — $ — $ 6,170 $ 6,170 Available-for-sale investments Preferred securities $ 981 $ 122 $ — $ — $ 1,103 Common stocks 8,507 — — — 8,507 Fixed income securities — 3,761 — — 3,761 Company-sponsored funds 25,364 — — — 25,364 Other — — — 108 108 Total available-for-sale investments $ 34,852 $ 3,883 $ — $ 108 $ 38,843 Derivatives - assets Foreign exchange contracts $ — $ 562 $ — $ — $ 562 Commodity contracts 108 — — — 108 Total derivatives - assets $ 108 $ 562 $ — $ — $ 670 Derivatives - liabilities Commodity contracts $ 385 $ — $ — $ — $ 385 Total derivatives - liabilities $ 385 $ — $ — $ — $ 385 _________________________ (1) Comprised of investments in actively traded U.S. Treasury money market funds measured at NAV. (2) Comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. These investments have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the condensed consolidated statement of financial position. Trading investments classified as level 2 in the above table were comprised of United States Treasury Bills carried at amortized cost, which approximates fair value. The following table presents fair value measurements as of December 31, 2016 (in thousands): Level 1 Level 2 Level 3 Investments Measured at NAV (2) Total Cash equivalents (1) $ 140,872 $ — $ — $ — $ 140,872 Trading investments Common stocks $ 5,069 $ — $ — $ — $ 5,069 Fixed income securities — 5,702 — — 5,702 Limited partnership interests — — 1,196 722 1,918 Total trading investments $ 5,069 $ 5,702 $ 1,196 $ 722 $ 12,689 Equity method investments $ — $ — $ — $ 6,459 $ 6,459 Available-for-sale investments Preferred securities $ 1,001 $ 10 $ — $ — $ 1,011 Common stocks 4,508 — — — 4,508 Company-sponsored funds 29,877 — — — 29,877 Total available-for-sale investments $ 35,386 $ 10 $ — $ — $ 35,396 Derivatives - assets Foreign exchange contracts $ — $ 1,417 $ — $ — $ 1,417 Commodity contracts 343 — — — 343 Total derivatives - assets $ 343 $ 1,417 $ — $ — $ 1,760 Derivatives - liabilities Commodity contracts $ 266 $ — $ — $ — $ 266 Total derivatives - liabilities $ 266 $ — $ — $ — $ 266 _________________________ (1)
Fair Value, Valuation Technique, Unobservable Inputs	The following table summarizes the changes in level 3 investments measured at fair value on a recurring basis for the three months ended March 31, 2017 and 2016 (in thousands): Three Months Ended 2017 2016 Trading Investments Limited Partnership Interests Balance at beginning of period $ 1,196 $ 1,312 Purchases / contributions 24 — Sales / distributions — — Realized gains (losses) — — Unrealized gains (losses) (1) 256 26 Transfers into (out of) level 3 — — Balance at end of period $ 1,476 $ 1,338 _________________________ (1) Pertains to unrealized gains (losses) from securities held at March 31, 2017 and March 31, 2016 The valuation techniques and significant unobservable inputs used in the fair value measurement of the following level 3 investments as of March 31, 2017 were: Fair Value Fair Value Significant Input / (in thousands) Methodology Unobservable Inputs Range Limited partnership interests - direct investments in real estate $ 1,476 Discounted cash flows Discount rates Exit capitalization rates Market rental rates 11% - 12.5% The valuation techniques and significant unobservable inputs used in the fair value measurement of the following level 3 investments as of December 31, 2016 were: Fair Value Fair Value Significant Input / (in thousands) Methodology Unobservable Inputs Range Limited partnership interests - direct investments in real estate $ 1,196 Discounted cash flows Discount rates Exit capitalization rates Market rental rates 11% - 12.5% 8% - 8.5% $14.00 - 17.00 psf

Derivatives (Tables)

Derivatives (Tables)	3 Months Ended
	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following is a summary of the notional and fair value of the derivative financial instruments. The notional amount represents the absolute value amount of all outstanding derivative contracts as of March 31, 2017 (in thousands): March 31, 2017 Assets Liabilities Notional Fair Value Notional Fair Value Total foreign exchange contracts $ 20,828 $ 562 $ — $ — Total commodity contracts 4,644 108 8,763 385 Total derivatives $ 25,472 $ 670 $ 8,763 $ 385 The following is a summary of the notional and fair value of the derivative financial instruments. The notional amount represents the absolute value amount of all outstanding derivative contracts as of December 31, 2016 (in thousands): December 31, 2016 Assets Liabilities Notional Fair Value Notional Fair Value Total foreign exchange contracts $ 13,839 $ 1,417 $ — $ — Total commodity contracts 6,538 343 4,825 266 Total derivatives $ 20,377 $ 1,760 $ 4,825 $ 266
Gains (losses) on Derivatives	Gains (losses) from derivative financial instruments for the three months ended March 31, 2017 and 2016 are summarized below (in thousands): Three Months Ended 2017 2016 Foreign exchange contracts $ (855 ) $ (1,256 ) Commodity contracts (447 ) 100 Total losses from derivatives $ (1,302 ) $ (1,156 )

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following is a reconciliation of the income and share data used in the basic and diluted earnings per share computations for the three months ended March 31, 2017 and 2016 (in thousands, except per share data): Three Months Ended 2017 2016 Net income $ 22,944 $ 17,867 Less: Net loss attributable to redeemable noncontrolling interest 41 216 Net income attributable to common stockholders $ 22,985 $ 18,083 Basic weighted average shares outstanding 46,243 45,808 Dilutive potential shares from restricted stock units 360 387 Diluted weighted average shares outstanding 46,603 46,195 Basic earnings per share attributable to common stockholders $ 0.50 $ 0.39 Diluted earnings per share attributable to common stockholders $ 0.49 $ 0.39

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2017
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following table sets forth the amount of revenue the Company earned from these affiliated funds for the three months ended March 31, 2017 and 2016 (in thousands): Three Months Ended 2017 2016 Investment advisory and administration fees $ 57,400 $ 51,911 Distribution and service fees 5,046 4,233 $ 62,446 $ 56,144 Sales proceeds, gross realized gains, gross realized losses and dividend income from available-for-sale investments in Company-sponsored funds for the three months ended March 31, 2017 and 2016 are summarized below (in thousands): Three Months Ended 2017 2016 Proceeds from sales $ 5,035 $ — Gross realized gains 20 — Gross realized losses — — Dividend income 255 —

Basis of Presentation and Sig29

Basis of Presentation and Significant Accounting Policies (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Maximum
Schedule of Equity Method Investments [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	100.00%
Accumulated Translation Adjustment
Cumulative Translation Adjustments balance [Line Items]
Cumulative Foreign Currency Translation Adjustment, Net of Tax	$ (6,358)	$ (6,845)

Basis of Presentation and Sig30

Basis of Presentation and Significant Accounting Policies Cash Equivalents Original Maturities (Details)	Mar. 31, 2016
Maximum
Restricted Cash and Cash Equivalents Items [Line Items]
Contractual Maturities of Time Deposits, $100,000 or More, Description	3 months

Basis of Presentation and Sig31

Basis of Presentation and Significant Accounting Policies Schedule of less than wholly owned subsidiaries (Details)	3 Months Ended
	Mar. 31, 2017
Minimum
VIE ownership percentage	50.00%
Maximum
Noncontrolling Interest, Ownership Percentage by Parent	100.00%

Basis of Presentation and Sig32

Basis of Presentation and Significant Accounting Policies New Accounting Pronouncements (Details) - Accounting Standards Update 2016-09	3 Months Ended
	Mar. 31, 2017USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Effective Income Tax Rate Reconciliation, Share-based Compensation, Excess Tax Benefit	$ 54,000
Additional Paid-In Capital
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle	$ 285,000

Basis of Presentation and Sig33

Basis of Presentation and Significant Accounting Policies Distribution Rates - Phantom (Details)	3 Months Ended
	Mar. 31, 2017
Common Class A | Maximum
Investment [Line Items]
Distribution fee revenue, Percent	0.25%
Shareholder servicing fee revenue, Percent	0.10%
Distribution fee expense, Percent	0.25%
Shareholder service fee expenses, Percent	0.10%
Common Class C
Investment [Line Items]
Distribution fee revenue, Percent	0.75%
Shareholder servicing fee revenue, Percent	0.25%
Distribution fee expense, Percent	0.75%
Shareholder service fee expenses, Percent	0.25%
Common Class R
Investment [Line Items]
Distribution fee revenue, Percent	0.50%
Distribution fee expense, Percent	0.50%

Goodwill and Intangible Asset34

Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Goodwill	$ 17,821		$ 17,684
Goodwill, Translation Adjustments	137
Finite-Lived Intangible Assets, Accumulated Amortization	(1,381)		(1,359)
Intangible Assets, Net	162
Intangible Assets, Gross	2,793		2,793
Intangible Assets, Net	1,412		$ 1,434
Amortization of Intangible Assets	$ 22	$ 22
Remaining Amortization Period	21		24
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,017	$ 67
2,018	95
Total	162
Client Relationships
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	1,543		$ 1,543
Finite-Lived Intangible Assets, Accumulated Amortization	(1,381)		(1,359)
Intangible Assets, Net	162		184
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Total	162		184
Fund Management Contracts
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets [Line Items]
Indefinite-lived Intangible Assets	$ 1,250		$ 1,250

Investments Trading and Equity

Investments Trading and Equity Investments (Details) $ in Thousands		3 Months Ended
		Mar. 31, 2017USD ($)new_funds_seeded	Mar. 31, 2016USD ($)new_funds_seeded	Dec. 31, 2016USD ($)
Trading Securities and Other Trading Assets [Line Items]
Trading investments	[1],[2]	$ 15,162		$ 12,689
Equity method investments		6,170		6,459
Available-for-sale investments		38,843		35,396
Gain (loss) from trading investments—net	[3]	273	$ (207)
Equity in (losses) earnings of affiliates		(289)	427
Gain (loss) from available-for-sale investments—net		35	(30)
Total gain from seed investments		$ 19	$ 190
Number of new funds seeded | new_funds_seeded		1,000	0
ACOM
Trading Securities and Other Trading Assets [Line Items]
Trading investments		$ 0		0
Equity method investments		6,069		6,371
Equity in (losses) earnings of affiliates		$ (302)	$ 76
Ownership percentage range		10.00%
CDF
Trading Securities and Other Trading Assets [Line Items]
Trading investments		$ 7,528		5,702
Equity method investments		0		0
Gain (loss) from trading investments—net		(425)	100
GLI SICAV
Trading Securities and Other Trading Assets [Line Items]
Trading investments		5,395		5,069
Equity method investments		0		0
Gain (loss) from trading investments—net		401	392
GRP-CIP
Trading Securities and Other Trading Assets [Line Items]
Trading investments		2,239		1,918
Equity method investments		0		0
Gain (loss) from trading investments—net		297	70
GRP-TE
Trading Securities and Other Trading Assets [Line Items]
Trading investments		0		0
Equity method investments		101		$ 88
Equity in (losses) earnings of affiliates		$ 13	(14)
Ownership percentage range		0.20%
LPX
Trading Securities and Other Trading Assets [Line Items]
Gain (loss) from trading investments—net		$ 0	(769)
Equity in (losses) earnings of affiliates		0	246
MLO
Trading Securities and Other Trading Assets [Line Items]
Equity in (losses) earnings of affiliates		$ 0	$ 119
[1]	Asset and liability amounts in parentheses represent the aggregated balances at March 31, 2017 and December 31, 2016 attributable to Cohen & Steers SICAV Global Listed Infrastructure Fund and Cohen & Steers Co-Investment Partnership, L.P., which were variable interest entities as of March 31, 2017 and December 31, 2016, respectively.
[2]	Pledged as collateral attributable to the consolidated balances of Cohen & Steers Active Commodities Strategy Fund, Inc. as of March 31, 2017 and December 31, 2016, respectively.
[3]	Includes net income/(loss) attributable to redeemable noncontrolling interest for the periods presented.

Investments Variable Interest E

Investments Variable Interest Entity (Details) - USD ($) $ in Thousands		Mar. 31, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Trading investments	[1],[2]	$ 15,162	$ 12,689
Due from broker	[1]	2,159	1,579
Other Assets	[1]	7,055	7,382
Assets		319,540	333,728
Other liabilities and accrued expenses	[1]	7,088	9,672
Liabilities		45,204	67,061
GLI SICAV
Variable Interest Entity [Line Items]
Trading investments		5,395	5,069
Due from broker		257	181
Other Assets		40	43
Assets		5,692	5,293
Due to broker		0	0
Other liabilities and accrued expenses		70	70
Liabilities		70	70
GRP-CIP
Variable Interest Entity [Line Items]
Trading investments		2,239	1,918
Due from broker		263	294
Other Assets		0	0
Assets		2,502	2,212
Due to broker		0	0
Other liabilities and accrued expenses		5	5
Liabilities		$ 5	$ 5
[1]	Asset and liability amounts in parentheses represent the aggregated balances at March 31, 2017 and December 31, 2016 attributable to Cohen & Steers SICAV Global Listed Infrastructure Fund and Cohen & Steers Co-Investment Partnership, L.P., which were variable interest entities as of March 31, 2017 and December 31, 2016, respectively.
[2]	Pledged as collateral attributable to the consolidated balances of Cohen & Steers Active Commodities Strategy Fund, Inc. as of March 31, 2017 and December 31, 2016, respectively.

Investments Available-for-Sale

Investments Available-for-Sale Invsetments (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017		Mar. 31, 2016	Dec. 31, 2016
Available-for-sale Investments [Abstract]
Cost		$ 36,721			$ 33,891
Gross Unrealized Gains		2,399			1,962
Gross Unrealized Losses		(277)	[1]		(457)	[2]
Fair Value		38,843			35,396
Available-for-sale investments in an unrealized loss position		6,622			18,521
Proceeds from Investing Activities [Abstract]
Proceeds from sales		6,886		$ 1,955
Gross realized gains		98		150
Gross realized losses		(63)		$ (180)
Preferred securities
Available-for-sale Investments [Abstract]
Cost		1,072			1,020
Gross Unrealized Gains		34			13
Gross Unrealized Losses		(3)	[1]		(22)	[2]
Fair Value		1,103			1,011
Common stocks
Available-for-sale Investments [Abstract]
Cost		8,424			4,639
Gross Unrealized Gains		337			194
Gross Unrealized Losses		(254)	[1]		(325)	[2]
Fair Value		8,507			4,508
Fixed income securities
Available-for-sale Investments [Abstract]
Cost		3,759
Gross Unrealized Gains		10
Gross Unrealized Losses	[1]	(8)
Fair Value		3,761
Company-sponsored funds
Available-for-sale Investments [Abstract]
Cost		23,366			28,232
Gross Unrealized Gains		2,010			1,755
Gross Unrealized Losses		(12)	[1]		(110)	[2]
Fair Value		25,364			$ 29,877
Other
Available-for-sale Investments [Abstract]
Cost		100
Gross Unrealized Gains		8
Gross Unrealized Losses	[1]	0
Fair Value		$ 108
[1]	At March 31, 2017, there were no securities with material unrealized losses continuously for a period of more than 12 months.
[2]	At December 31, 2016, there were no securities with unrealized losses continuously for a period of more than 12 months.

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Thousands		3 Months Ended					12 Months Ended
		Mar. 31, 2017		Dec. 31, 2016		Mar. 31, 2016	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment redemption notice period		5 days		5 days
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments	[1],[2]	$ 15,162		$ 12,689			$ 12,689
Equity method investments		6,170		6,459			6,459
Available-for-sale investments		38,843		35,396			35,396
Cash Equivalents
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		0	[3],[4]	0	[5],[6]		0	[5],[6]
Trading Investments
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		763	[3]	722	[5]		722	[5]
Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		0	[3]	0	[5]		0	[5]
Limited partnership interests
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		763	[3]	722	[5]		722	[5]
Equity Method Investments
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		6,170	[3]	6,459	[5]		6,459	[5]
Available-for-sale Investments
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		108	[3]	0	[5]		0	[5]
Company-sponsored funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		0	[3]	0	[5]		0	[5]
Other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV	[3]	108
Preferred securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		0	[3]	0	[5]		0	[5]
Common Stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		0	[3]	0	[5]		0	[5]
Derivatives - Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		0	[3]	0	[5]		0	[5]
Derivatives - Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		0	[3]	0	[5]		0	[5]
Foreign exchange contracts | Derivatives - Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV	[5]			0			0
Commodity contracts | Derivatives - Assets
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		0	[3]	0	[5]		0	[5]
Commodity contracts | Derivatives - Liabilities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Investments Measured at NAV		0	[3]	0	[5]		0	[5]
Other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		108
Preferred securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		1,103		1,011			1,011
Common Stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		8,507		4,508			4,508
Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		3,761
Company-sponsored funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		$ 25,364		29,877			$ 29,877
Level 3 | Minimum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Inputs, Discount Rates		11.00%					11.00%
Fair Value Inputs, Exit Capitalization Rates		7.00%					8.00%
Fair Value Inputs, Market Rental Rates		14.50					14
Level 3 | Maximum
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair Value Inputs, Discount Rates		12.50%					12.50%
Fair Value Inputs, Exit Capitalization Rates		8.00%					8.50%
Fair Value Inputs, Market Rental Rates		16.80					17
Level 3 | Limited partnership interests
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Level 3 Fair Value		$ 1,476		1,196			$ 1,196
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Cash equivalents	[6]	121,598		140,872			140,872
Trading investments		15,162		12,689			12,689
Equity method investments		6,170		6,459			6,459
Available-for-sale investments		38,843		35,396			35,396
Derivative - assets		670		1,760			1,760
Derivative - liabilities		385		266			266
Fair Value, Measurements, Recurring | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative - assets		562		1,417			1,417
Fair Value, Measurements, Recurring | Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative - assets		108		343			343
Derivative - liabilities		385		266			266
Fair Value, Measurements, Recurring | Other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		108
Fair Value, Measurements, Recurring | Preferred securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		1,103		1,011			1,011
Fair Value, Measurements, Recurring | Common Stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		5,395		5,069			5,069
Available-for-sale investments		8,507		4,508			4,508
Fair Value, Measurements, Recurring | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		7,528		5,702			5,702
Available-for-sale investments		3,761
Fair Value, Measurements, Recurring | Limited partnership interests
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		2,239		1,918			1,918
Fair Value, Measurements, Recurring | Company-sponsored funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		25,364		29,877			29,877
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Cash equivalents		121,598	[6]	140,872	[4]		140,872	[4]
Trading investments		5,395		5,069			5,069
Equity method investments		0		0			0
Available-for-sale investments		34,852		35,386			35,386
Derivative - assets		108		343			343
Derivative - liabilities		385		266			266
Fair Value, Measurements, Recurring | Level 1 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative - assets		0		0			0
Fair Value, Measurements, Recurring | Level 1 | Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative - assets		108		343			343
Derivative - liabilities		385		266			266
Fair Value, Measurements, Recurring | Level 1 | Other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		0
Fair Value, Measurements, Recurring | Level 1 | Preferred securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		981		1,001			1,001
Fair Value, Measurements, Recurring | Level 1 | Common Stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		5,395		5,069			5,069
Available-for-sale investments		8,507		4,508			4,508
Fair Value, Measurements, Recurring | Level 1 | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		0		0			0
Available-for-sale investments		0
Fair Value, Measurements, Recurring | Level 1 | Limited partnership interests
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		0		0			0
Fair Value, Measurements, Recurring | Level 1 | Company-sponsored funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		25,364		29,877			29,877
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Cash equivalents		0	[6]	0	[4]		0	[4]
Trading investments		7,528		5,702			5,702
Equity method investments		0		0			0
Available-for-sale investments		3,883		10			10
Derivative - assets		562		1,417			1,417
Derivative - liabilities		0		0			0
Fair Value, Measurements, Recurring | Level 2 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative - assets		562		1,417			1,417
Fair Value, Measurements, Recurring | Level 2 | Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative - assets		0		0			0
Derivative - liabilities		0		0			0
Fair Value, Measurements, Recurring | Level 2 | Other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		0
Fair Value, Measurements, Recurring | Level 2 | Preferred securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		122		10			10
Fair Value, Measurements, Recurring | Level 2 | Common Stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		0		0			0
Available-for-sale investments		0		0			0
Fair Value, Measurements, Recurring | Level 2 | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		7,528		5,702			5,702
Available-for-sale investments		3,761
Fair Value, Measurements, Recurring | Level 2 | Limited partnership interests
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		0		0			0
Fair Value, Measurements, Recurring | Level 2 | Company-sponsored funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		0		0			0
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Cash equivalents		0	[6]	0	[4]		0	[4]
Trading investments		1,476		1,196			1,196
Equity method investments		0		0			0
Available-for-sale investments		0		0			0
Derivative - assets		0		0			0
Derivative - liabilities		0		0			0
Fair Value, Measurements, Recurring | Level 3 | Foreign exchange contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative - assets		0		0			0
Fair Value, Measurements, Recurring | Level 3 | Commodity contracts
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Derivative - assets		0		0			0
Derivative - liabilities		0		0			0
Fair Value, Measurements, Recurring | Level 3 | Other
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		0
Fair Value, Measurements, Recurring | Level 3 | Preferred securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		0		0			0
Fair Value, Measurements, Recurring | Level 3 | Common Stocks
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		0		0			0
Available-for-sale investments		0		0			0
Fair Value, Measurements, Recurring | Level 3 | Fixed income securities
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		0		0			0
Available-for-sale investments		0
Fair Value, Measurements, Recurring | Level 3 | Limited partnership interests
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Trading investments		1,476		1,196			1,196
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period		1,196				$ 1,312	1,312
Purchases / contributions		24				0
Sales / distributions		0				0
Realized gains (losses)		0				0
Unrealized gains (losses)	[7]	256				26
Transfers into (out of) level 3		0				0
Balance at end of period		1,476		1,196		$ 1,338	1,196
Fair Value, Measurements, Recurring | Level 3 | Company-sponsored funds
Fair Value, Assets and Liabilities Measured on Recurring Basis [Abstract]
Available-for-sale investments		$ 0		$ 0			$ 0
[1]	Asset and liability amounts in parentheses represent the aggregated balances at March 31, 2017 and December 31, 2016 attributable to Cohen & Steers SICAV Global Listed Infrastructure Fund and Cohen & Steers Co-Investment Partnership, L.P., which were variable interest entities as of March 31, 2017 and December 31, 2016, respectively.
[2]	Pledged as collateral attributable to the consolidated balances of Cohen & Steers Active Commodities Strategy Fund, Inc. as of March 31, 2017 and December 31, 2016, respectively.
[3]	Comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. These investments have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the condensed consolidated statement of financial position.
[4]	Comprised of investments in actively traded U.S. Treasury money market funds measured at NAV.
[5]	Comprised of certain investments measured at fair value using NAV (or its equivalent) as a practical expedient. These investments have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the condensed consolidated statement of financial position.
[6]	Comprised of investments in actively traded U.S. Treasury money market funds measured at NAV.
[7]	Pertains to unrealized gains (losses) from securities held at March 31, 2017 and March 31, 2016

Derivatives (Details)

Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Derivative [Line Items]
Derivative Assets, Notional	$ 25,472		$ 20,377
Derivative Assets, Fair Value	670		1,760
Derivative Liabilities, Notional	8,763		4,825
Derivative Liabilities, Fair Value	385		266
Derivative, Gains (Losses) on derivative, net	(1,302)	$ (1,156)
Foreign exchange contracts
Derivative [Line Items]
Derivative Assets, Notional	20,828		13,839
Derivative Assets, Fair Value	562		1,417
Derivative Liabilities, Notional	0		0
Derivative Liabilities, Fair Value	0		0
Derivative, Gains (Losses) on derivative, net	(855)	(1,256)
Commodity contracts
Derivative [Line Items]
Derivative Assets, Notional	4,644		6,538
Derivative Assets, Fair Value	108		343
Derivative Liabilities, Notional	8,763		4,825
Derivative Liabilities, Fair Value	385		266
Derivative, Gains (Losses) on derivative, net	(447)	$ 100
ERROR in label resolution.
Derivative [Line Items]
Cash included in due from broker pledged as collateral	278
ERROR in label resolution.
Derivative [Line Items]
Trading investments and pledged as collateral	$ 637		$ 487

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Anti-dilutive common stock equivalents excluded from computation (in shares)	17,000	56,000
Net income	$ 22,944	$ 17,867
Less: Net loss attributable to redeemable noncontrolling interest	41	216
Net income attributable to common stockholders	$ 22,985	$ 18,083
Basic weighted average shares outstanding (shares)	46,243,000	45,808,000
Dilutive potential shares from restricted stock units (shares)	360,000	387,000
Diluted weighted average shares outstanding (shares)	46,603,000	46,195,000
Basic earnings per share attributable to common stockholders (in dollars per share)	$ 0.50	$ 0.39
Diluted earnings per share attributable to common stockholders (in dollars per share)	$ 0.49	$ 0.39

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
U.S. Federal, State, Local and Foreign Taxes
Income Tax Contingency [Line Items]
Effective income tax rate reconciliation, percent	35.80%	38.00%

Regulatory Requirements (Detail

Regulatory Requirements (Details) $ in Thousands	Mar. 31, 2017USD ($)
Securities Registered Domestically
Financial Instruments Owned and Pledged as Collateral [Line Items]
Net Capital	$ 4,025
Excess Capital	3,845
Securities Regulated By Foreign Entities
Financial Instruments Owned and Pledged as Collateral [Line Items]
Net Capital	70,053
Excess Capital	$ 67,216

Related Party Transactions (Det

Related Party Transactions (Details) - Affiliated Funds - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Proceeds from sale, Maturity and Collection of Investment	$ 5,035	$ 0
Gross realized gains	20	0
Gross realized losses	0	0
Dividend income	255	0
Related Party Transactions, Revenue [Abstract]
Investment advisory and administrative fees	57,400	51,911
Distribution and service fees	5,046	4,233
Total	62,446	56,144
Fund expenses, included in general and administrative expenses	2,373	$ 2,034
Receivables due from company-sponsored mutual funds	$ 20,792		$ 20,221

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)
Contingencies [Line Items]
Operating Leases, Rent Expense	$ 2,800
Commitments
Contingencies [Line Items]
Long-term purchase commitment, time period	12 years
Commitment to invest
Contingencies [Line Items]
Long-term purchase commitment	$ 5,100
Long-term committment, funded amount	$ 3,500

Concentration of Credit Risk (D

Concentration of Credit Risk (Details)	Mar. 31, 2017financial_institution
Risks and Uncertainties [Abstract]
Number of financial institutions	3

Subsequent Events (Details)

Subsequent Events (Details) - $ / shares	May 04, 2017	Mar. 31, 2017	Mar. 31, 2016
Subsequent Event [Line Items]
Dividends, Common Stock, Cash		$ 0.28	$ 0.26
Dividend Declared | Subsequent Event
Subsequent Event [Line Items]
Dividends, Common Stock, Cash	$ 0.28