Revenue

6 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

3. Revenue

The following table presents revenues disaggregated by product offering, which aligns with the identified performance obligations and the basis for calculating each amount:

	Three Months Ended September 30,				Six Months Ended September 30,
Management and advisory fees	2023		2022		2023		2022
Specialized funds	$	62,386	$	47,150	$	120,102	$	90,799
Customized separate accounts	32,040		29,383		63,759		57,758
Advisory	6,014		6,211		12,307		12,460
Reporting and other	6,261		6,133		11,819		12,450
Distribution management	1,254		771		2,467		1,267
Fund reimbursement revenue	1,229		3,232		4,138		4,092
Total management and advisory fees	$	109,184	$	92,880	$	214,592	$	178,826

	Three Months Ended September 30,				Six Months Ended September 30,
Incentive fees	2023		2022		2023		2022
Specialized funds	$	14,276	$	51,929	$	32,662	$	94,137
Customized separate accounts	3,416		7,308		4,660		14,623
Consolidated variable interest entities related:
Specialized funds	—		1,265		—		1,305
Total incentive fees	$	17,692	$	60,502	$	37,322	$	110,065