And G&A, probably in the mid 140s, down from the mid-high 40 guide that we gave last quarter. And that does include an assumption of continued higher T&E and slightly higher placement fees.

May 1, 2023 / CFO / receipt, needs a key / Matt Nichols, CFO | earnings call 2023-05-01 | transcript 908dccd1-d044-46b1-8da2-365437fc85c3 | chars 15077-15266 | segment 15

Reflecting challenging market conditions during the fiscal year, we strengthened the foundation of our business through prudent and disciplined expense management. Amongst other measures, we outsourced our global transfer agency function, simplifying our business while reducing future capital expenditures. This initiative follows the previously announced outsourcing of our fund administration and certain other technology functions.

Nov 1, 2022 / CFO / receipt, needs a key / Matt Nichols, CFO | earnings call 2022-11-01 | transcript 539ce682-0651-48a6-b9c6-d0497a330f6d | chars 13036-13471 | segment 12

GNA, we expect this to be elevated for the first quarter to approximately $160 million. This includes a one-time TA international outsourcing fee and higher placement fees. Following this quarter, though, for the future quarters, We would expect G&A to go back to approximately where we are at in the fourth quarter 22 in the mid to high 140s, but this is inclusive of Alcentra and likely continued occurrence of higher placement fees. It's also worth noting that G&A guidance also includes higher T&E as activity returns to more normalized levels. So to put that into context, Just in the second quarter of 22, our T&E was around $7 million. It's now $15 million, or it was $15 million in the fourth quarter. We expect that to probably rise to around $20 million going forward.

Nov 1, 2022 / CFO / receipt, needs a key / Matt Nichols, CFO | earnings call 2022-11-01 | transcript 539ce682-0651-48a6-b9c6-d0497a330f6d | chars 19462-20240 | segment 18