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Revenues (Tables)
 12 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following presents revenues disaggregated by product offering, which aligns with the Company’s performance obligations and the basis for calculating each amount:
Year Ended March 31,
Management and Advisory Fees, Net202220212020
Focused commingled funds$148,725 $97,223 $79,402 
SMAs174,318 135,784 107,286 
Advisory and other services55,523 52,217 47,848 
Fund reimbursement revenues1,691 238 669 
Total management and advisory fees, net$380,257 $285,462 $235,205 
Year Ended March 31,
Incentive Fees202220212020
SMAs$11,441 $5,446 $3,410 
Focused commingled funds152 28 — 
Total incentive fees$11,593 $5,474 $3,410 
Year Ended March 31,
Carried Interest Allocations202220212020
SMAs$555,449 $359,703 $150,848 
Focused commingled funds231,120 137,077 57,148 
Total carried interest allocations$786,569 $496,780 $207,996 
Year Ended March 31,
Legacy Greenspring Carried Interest Allocations202220212020
SMAs$— $— $— 
Focused commingled funds(1)
187,106 — — 
Total legacy Greenspring carried interest allocations$187,106 $— $— 
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(1)The year ended March 31, 2022 reflects the net effect of gross realized carried interest allocations of $92.2 million, and the reversal of such amounts in unrealized carried interest allocations for the period.
Revenue from External Customers by Geographic Areas
The Company derives revenues from clients located in both the United States and other countries. The table below presents the Company’s revenues by geographic location:
Year Ended March 31,
Revenues(1)
202220212020
United States$428,282 $166,719 $108,681 
Non-U.S. countries937,243 620,997 337,930 
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(1)Revenues are attributed to countries based on client location for SMAs and advisory and other services, or location of investment vehicle for focused commingled funds.