StepStone Group Inc
For the period ended Mar 31, 2025. Filed May 23, 2025.
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FY2025 · Filed May 23, 2025
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, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Cash and cash equivalents | $244,791 | $143,430 |
| Restricted cash | 502 | 718 |
| Fees and accounts receivable | 80,871 | 56,769 |
| Due from affiliates | 92,723 | 67,531 |
| Investments: | ||
| Investments in funds | 183,694 | 135,043 |
| Accrued carried interest allocations | 1,495,664 | 1,354,051 |
| Legacy Greenspring investments in funds and accrued carried interest allocations(1) | 629,228 | 631,197 |
| Deferred income tax assets | 382,886 | 184,512 |
| Lease right-of-use assets, net | 91,841 | 97,763 |
| Other assets and receivables | 62,869 | 60,611 |
| Intangibles, net | 263,872 | 304,873 |
| Goodwill | 580,542 | 580,542 |
| Assets of Consolidated Funds: | ||
| Cash and cash equivalents | 44,511 | 38,164 |
| Investments, at fair value | 415,011 | 131,858 |
| Other assets | 17,688 | 1,745 |
| Total assets | $4,586,693 | $3,788,807 |
| Liabilities and stockholders’ equity | ||
| Accounts payable, accrued expenses and other liabilities | $89,731 | $127,417 |
| Accrued compensation and benefits | 736,695 | 101,481 |
| Accrued carried interest-related compensation | 757,968 | 719,497 |
| Legacy Greenspring accrued carried interest-related compensation(1) | 495,739 | 484,154 |
| Due to affiliates | 331,821 | 212,918 |
| Lease liabilities | 113,519 | 119,739 |
| Debt obligations | 269,268 | 148,822 |
| Liabilities of Consolidated Funds: | ||
| Other liabilities | 17,580 | 1,645 |
| Total liabilities | 2,812,321 | 1,915,673 |
| Commitments and contingencies (Note 15) | ||
| Redeemable non-controlling interests in Consolidated Funds | 377,897 | 102,623 |
| Redeemable non-controlling interests in subsidiaries | 6,327 | 115,920 |
| Stockholders’ equity: | ||
| Class A common stock, $0.001 par value, 650,000,000 authorized; 76,761,399 and 65,614,902 issued and outstanding as of March 31, 2025 and 2024, respectively | 77 | 66 |
| Class B common stock, $0.001 par value, 125,000,000 authorized; 39,656,954 and 45,030,959 issued and outstanding as of March 31, 2025 and 2024, respectively | 40 | 45 |
| Additional paid-in capital | 421,057 | 310,293 |
| Retained earnings (accumulated deficit) | (242,546) | 13,768 |
| Accumulated other comprehensive income | 728 | 304 |
| Total StepStone Group Inc. stockholders’ equity | 179,356 | 324,476 |
| Non-controlling interests in subsidiaries | 1,056,510 | 974,559 |
| Non-controlling interests in legacy Greenspring entities(1) | 133,489 | 147,042 |
| Non-controlling interests in the Partnership | 20,793 | 208,514 |
| Total stockholders’ equity | 1,390,148 | 1,654,591 |
| Total liabilities and stockholders’ equity | $4,586,693 | $3,788,807 |
(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, | ||
|---|---|---|
| 2025 | 2024 | |
| Assets | ||
| Cash and cash equivalents | $75,769 | $46,859 |
| Restricted cash | 502 | 718 |
| Fees and accounts receivable | 66,692 | 52,566 |
| Due from affiliates | 43,830 | 23,986 |
| Investments in funds | 47,362 | 39,590 |
| Legacy Greenspring investments in funds and accrued carried interest allocations | 629,228 | 631,197 |
| Deferred income tax assets | 275 | 349 |
| Lease right-of-use assets, net | 18,307 | 16,665 |
| Other assets and receivables | 16,859 | 11,491 |
| Assets of Consolidated Funds: | ||
| Cash and cash equivalents | 44,511 | 38,164 |
| Investments, at fair value | 415,011 | 131,858 |
| Other assets | 17,688 | 1,745 |
| Total assets | $1,376,034 | $995,188 |
| Liabilities | ||
| Accounts payable, accrued expenses and other liabilities | $29,484 | $27,155 |
| Accrued compensation and benefits | 699,015 | 57,487 |
| Legacy Greenspring accrued carried interest-related compensation | 495,739 | 484,154 |
| Due to affiliates | 18,072 | 5,845 |
| Lease liabilities | 18,814 | 17,415 |
| Liabilities of Consolidated Funds: | ||
| Other liabilities | 17,580 | 1,645 |
| Total liabilities | $1,278,704 | $593,701 |
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