v3.26.1
Related Party Transactions
 3 Months Ended
Jun. 30, 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 $231.8 million and $151.6 million for the three months ended June 30, 2026 and 2025, respectively. The Company earned no incentive fees from the StepStone Funds for the three months ended June 30, 2026 and 2025, respectively. Carried interest allocation revenues earned from the StepStone Funds totaled $72.5 million and $113.3 million for the three months ended June 30, 2026 and 2025, respectively. Legacy Greenspring carried interest allocation revenues earned from certain legacy Greenspring funds for which the Company has no direct economic interests totaled $37.2 million and $39.6 million for the three months ended June 30, 2026 and 2025, respectively.
Due from affiliates in the condensed 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
June 30, 2026March 31, 2026
Amounts receivable from StepStone Funds$97,854 $58,257 
Amounts receivable from employees39,700 39,558 
Amounts receivable from loans15,465 15,335 
Total due from affiliates$153,019 $113,150 
Due to affiliates in the condensed 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
June 30, 2026March 31, 2026
Amounts payable to non-controlling interest holders in connection with Tax Receivable Agreements$341,137 $344,210 
Amounts payable to StepStone Funds25,661 18,623 
Total due to affiliates$366,798 $362,833 
The Company made payments of $16.2 million and $11.5 million during the three months ended June 30, 2026 and 2025, respectively, under the Tax Receivable Agreements.