v3.26.1
Related Party Transactions
 12 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
The Company considers its directors, greater than 5% beneficial owner of any class of the Company’s stock, senior executives, employees and equity method investments to be related parties. A substantial portion of the Company’s management and advisory fees and carried interest allocations is earned from various StepStone Funds. The Company earned net management and advisory fees from the StepStone Funds of $664.6 million, $570.9 million and $390.5 million for the years ended March 31, 2026, 2025 and 2024, respectively. The Company earned incentive fees from the StepStone Funds of $209.1 million, $22.6 million and $9.1 million for the years ended March 31, 2026, 2025 and 2024, respectively. Carried interest allocation revenues earned from the StepStone Funds totaled $708.3 million, $301.2 million and $176.3 million for the years ended March 31, 2026, 2025 and 2024, respectively. Legacy Greenspring carried interest allocation revenues earned from certain legacy Greenspring funds for which the Company has no direct economic interests totaled $138.7 million, $74.3 million, and $(75.2) million for the years ended March 31, 2026, 2025 and 2024, respectively.
Due from affiliates in the consolidated balance sheets consists primarily of fees and accounts receivable from the StepStone Funds, advances made on behalf of the StepStone Funds for the payment of certain organization and operating costs and expenses for which the Company is subsequently reimbursed, amounts due from employees and loans due from affiliated entities, as set forth below.
As of March 31,
20262025
Amounts receivable from StepStone Funds$58,257 $65,765 
Amounts receivable from employees39,558 12,919 
Amounts receivable from loans15,335 14,039 
Total due from affiliates$113,150 $92,723 
Due to affiliates in the consolidated balance sheets consists primarily of amounts payable to certain non-controlling interest holders in connection with the Tax Receivable Agreements, amounts payable to the StepStone Funds and amounts due to employee equity holders of consolidated subsidiaries, as set forth below.
As of March 31,
20262025
Amounts payable to non-controlling interest holders in connection with Tax Receivable Agreements$344,210 $313,749 
Amounts payable to StepStone Funds18,623 18,072 
Total due to affiliates$362,833 $331,821 
The Company made payments of $12.6 million, $9.8 million and $10.3 million during the years ended March 31, 2026, 2025 and 2024, respectively, under the Tax Receivable Agreements.