v3.26.1
Revenues
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Revenues Revenues
For the three and six months ended June 30, 2026 and 2025, management fees and incentive fees consisted of the following:
Three Months Ended June 30,Six Months Ended June 30,
Management fees2026202520262025
Management fees, net
$109,401 $97,934 $214,606 $202,567 
Fund expense reimbursement revenue
5,361 3,990 11,026 8,672 
Total management fees
$114,762 $101,924 $225,632 $211,239 
Three Months Ended June 30,Six Months Ended June 30,
Incentive fees2026202520262025
Performance fees$1,414 $1,433 $6,915 $5,251 
Carried interest16,178 14,825 22,670 26,075 
Total incentive fees
$17,592 $16,258 $29,585 $31,326 
The Company recognized revenues of less than $0.1 million during each of the three months ended June 30, 2026 and 2025, respectively, and $0.3 million and $0.9 million during the six months ended June 30, 2026 and 2025, respectively, that was previously received and deferred at the beginning of the respective periods. As of June 30, 2026, deferred revenue relating to constrained realized carried interest was approximately $5.9 million.