Fair Value Measurements (Tables)

9 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on Recurring and Non-recurring Basis

The assets and liabilities measured at fair value on a recurring and non-recurring basis are summarized in the tables below:

	Fair Value as of March 31, 2023
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Equity investments	$	17,282	$	-	$	-	$	17,282
Total assets within the fair value hierarchy	$	17,282	$	-	$	-	$	17,282
Investments valued at net asset value							$	17,822
Total assets							$	35,104
Liabilities:
Contingent consideration liability	$	-	$	-	$	1,300	$	1,300
Total liabilities	$	-	$	-	$	1,300	$	1,300

	Fair Value as of June 30, 2022
(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Equity investments	$	27,678	$	-	$	-	$	27,678
Equity investments of Consolidated Fund		1,797		-		-		1,797
Total assets within the fair value hierarchy	$	29,475	$	-	$	-	$	29,475
Investments valued at net asset value							$	20,364
Total assets							$	49,839
Liabilities:
Contingent consideration liability	$	-	$	-	$	1,120	$	1,120
Total liabilities	$	-	$	-	$	1,120	$	1,120

Reconciliation of Changes in Contingent Consideration, Level 3 Liability

The following is a reconciliation of changes in contingent consideration, a Level 3 liability:

(in thousands)	For the three months ended March 31, 2023		For the nine months ended March 31, 2023
Beginning balance	$	1,180	$	1,120
Change in fair value		120		180
Ending balance	$	1,300	$	1,300