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Related-Party Transactions | 12 Months Ended
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Mar. 31, 2020
Related Party Transactions [Abstract] |
Related-Party Transactions | Related-Party Transactions The Company considers its employees, directors, and equity method investments to be related parties. The Company has investment management agreements with various specialized funds and customized separate accounts that it manages. The Company earned management and advisory fees from Partnerships of $161,323, $134,343, and $113,507 for the years ended March 31, 2020, 2019 and 2018, respectively. The Company earned incentive fees from Partnerships of $24,077, $31,876, and $43,522 for the years ended March 31, 2020, 2019 and 2018, respectively. Fees receivable from the Partnerships were $16,970 and $8,927 as of March 31, 2020 and 2019, respectively, and are included in fees receivable in the Consolidated Balance Sheets. The Company entered into a service agreement on June 1, 2017 with a joint venture pursuant to which it incurred expenses of $5,289, $5,058 and $3,638 for the years ended March 31, 2020, 2019, and 2018 respectively, which amounts are included in general, administrative and other expenses in the Consolidated Statements of Income. The Company also has a payable to the joint venture of $428 and $450 as of March 31, 2020 and 2019, respectively, which is included in other liabilities in the Consolidated Balance Sheets. On January 31, 2020, the convertible promissory note (the “Note”) held by the Company issued by one of its equity method investments was settled by converting the outstanding principal and accrued interest into shares of the investee per the terms of the Note. The Company received 2,278,524 shares of the investee which were recorded at the carrying value of the Note of $902 at the date of conversion. These shares are included with similar shares of that investee as investments held under the measurement alternative. On January 31, 2020, the Company entered into an asset purchase agreement with one of its equity method investments for the code and an exclusive license to distribute the Cobalt LP software. The cost of the asset acquisition was $6,373, which consisted of an upfront cash payment of $4,000, contribution of equity shares of the investee valued at $2,201 and $172 in direct transaction fees. Additionally, a deferred cash payment of $1,000 will be made upon completion of agreed upon activities in order to finalize the purchase. The deferred cash payment will be included in the cost of the asset acquisition when paid. The assets purchased were recorded as intangible assets in other assets in the Consolidated Balance Sheets and will be amortized over 7 years.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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