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Intangibles and Goodwill
 3 Months Ended
Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangibles and Goodwill Intangibles and Goodwill
Intangible assets consist of management contracts providing economic rights to management and advisory fees and client relationships related to future fundraising, as obtained through the Company’s acquisitions of other businesses.
Intangible assets, net consists of the following:
As of
June 30, 2024March 31, 2024
Management contracts$352,002 $352,002 
Client relationships96,650 96,650 
Less: Accumulated amortization(154,029)(143,779)
Intangible assets, net$294,623 $304,873 
Amortization expense related to intangible assets was $10.5 million and $10.7 million for the three months ended June 30, 2024 and 2023, respectively. These amounts are included in general, administrative and other expenses in the condensed consolidated statements of income.
At June 30, 2024, the expected future amortization of finite-lived intangible assets is as follows:
Remainder of FY2025$30,751 
FY202640,810 
FY202740,776 
FY202840,759 
FY202940,759 
Thereafter100,768 
Total$294,623 
The carrying value of goodwill was $580.5 million as of June 30, 2024 and March 31, 2024. The Company determined there was no indication of goodwill impairment as of June 30, 2024 and March 31, 2024.