StepStone Group Inc.
For the period ended Mar 31, 2026. Filed May 27, 2026.
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FY2026 · Filed May 27, 2026
STEP$49.18+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets as of March 31, 202 and
Consolidated Balance Sheets
(in thousands, except share and per share amounts)
| As of March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Assets | ||
| Cash and cash equivalents | $213,065 | $244,791 |
| Restricted cash | 579 | 502 |
| Fees and accounts receivable | 133,287 | 80,871 |
| Due from affiliates | 113,150 | 92,723 |
| Investments: | ||
| Investments in funds | 249,447 | 183,694 |
| Accrued carried interest allocations | 2,036,892 | 1,495,664 |
| Legacy Greenspring investments in funds and accrued carried interest allocations(1) | 752,776 | 629,228 |
| Deferred income tax assets | 614,788 | 382,886 |
| Lease right-of-use assets, net | 81,565 | 91,841 |
| Other assets and receivables | 58,946 | 62,869 |
| Intangibles, net | 223,044 | 263,872 |
| Goodwill | 580,542 | 580,542 |
| Assets of Consolidated Funds: | ||
| Cash and cash equivalents | 905,357 | 44,511 |
| Investments, at fair value | 715,335 | 415,011 |
| Other assets | 83,929 | 17,688 |
| Total assets | $6,762,702 | $4,586,693 |
| Liabilities and stockholders’ equity | ||
| Accounts payable, accrued expenses and other liabilities | $102,685 | $89,731 |
| Accrued compensation and benefits | 2,360,770 | 736,695 |
| Accrued carried interest-related compensation | 1,100,604 | 757,968 |
| Legacy Greenspring accrued carried interest-related compensation(1) | 619,186 | 495,739 |
| Due to affiliates | 362,833 | 331,821 |
| Lease liabilities | 103,600 | 113,519 |
| Debt obligations | 270,572 | 269,268 |
| Liabilities of Consolidated Funds: | ||
| Other liabilities | 25,241 | 17,580 |
| Debt obligations | 931,185 | — |
| Total liabilities | 5,876,676 | 2,812,321 |
| Commitments and contingencies (Note 15) | ||
| Redeemable non-controlling interests in Consolidated Funds | 186,236 | 377,897 |
| Redeemable non-controlling interests in subsidiaries | 8,777 | 6,327 |
| Stockholders’ equity: | ||
| Class A common stock, $0.001 par value, 650,000,000 authorized; 80,703,553 and 76,761,399 issued and outstanding as of March 31, 2026 and 2025, respectively | 81 | 77 |
| Class B common stock, $0.001 par value, 125,000,000 authorized; 38,637,761 and 39,656,954 issued and outstanding as of March 31, 2026 and 2025, respectively | 39 | 40 |
| Additional paid-in capital | 482,057 | 421,057 |
| Accumulated deficit | (896,879) | (242,546) |
| Accumulated other comprehensive income | 1,143 | 728 |
| Total StepStone Group Inc. stockholders’ equity | (413,559) | 179,356 |
| Non-controlling interests in subsidiaries | 1,373,242 | 1,056,510 |
| Non-controlling interests in legacy Greenspring entities(1) | 133,590 | 133,489 |
| Non-controlling interests in the Partnership | (402,260) | 20,793 |
| Total stockholders’ equity | 691,013 | 1,390,148 |
| Total liabilities and stockholders’ equity | $6,762,702 | $4,586,693 |
(1)Reflects amounts attributable to consolidated VIEs for which the Company did not acquire any direct economic interests. See notes 2 and 5 for more information.
Consolidated Balance Sheets
The following presents the portion of the consolidated balances presented above attributable to consolidated variable interest entities.
| As of March 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Assets | ||
| Cash and cash equivalents | $90,403 | $75,769 |
| Restricted cash | 579 | 502 |
| Fees and accounts receivable | 107,352 | 66,692 |
| Due from affiliates | 53,123 | 43,830 |
| Investments in funds | 77,202 | 47,362 |
| Legacy Greenspring investments in funds and accrued carried interest allocations | 752,776 | 629,228 |
| Deferred income tax assets | 4,491 | 275 |
| Lease right-of-use assets, net | 15,850 | 18,307 |
| Other assets and receivables | 16,135 | 16,859 |
| Assets of Consolidated Funds: | ||
| Cash and cash equivalents | 905,357 | 44,511 |
| Investments, at fair value | 715,335 | 415,011 |
| Other assets | 83,929 | 17,688 |
| Total assets | $2,822,532 | $1,376,034 |
| Liabilities | ||
| Accounts payable, accrued expenses and other liabilities | $36,438 | $29,484 |
| Accrued compensation and benefits | 2,321,815 | 699,015 |
| Legacy Greenspring accrued carried interest-related compensation | 619,186 | 495,739 |
| Due to affiliates | 18,292 | 18,072 |
| Lease liabilities | 17,048 | 18,814 |
| Liabilities of Consolidated Funds: | ||
| Other liabilities | 25,241 | 17,580 |
| Debt obligations | 931,185 | — |
| Total liabilities | $3,969,205 | $1,278,704 |
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