Related Party Transactions

6 Months Ended

Sep. 30, 2021

The Company considers its 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 that are considered equity method investments. The Company earned net management and advisory fees from the StepStone Funds of $51.0 million and $47.8 million for the three months ended September 30, 2021 and 2020, respectively, and $96.9 million and $85.1 million for the six months ended September 30, 2021 and 2020, respectively. Carried interest allocation revenues earned from the StepStone Funds totaled $196.4 million and $166.1 million for the three months ended September 30, 2021 and 2020, respectively, and $422.7 million and $37.6 million for the six months ended September 30, 2021 and 2020, respectively. Legacy Greenspring carried interest allocation revenues earned from certain legacy Greenspring funds for which the Company has no economic interests totaled $0 million for the three and six months ended September 30, 2021, which reflects the net effect of gross realized carried interest allocations of $3.0 million and the reversal of such amounts in unrealized carried interest allocations for the period from September 20, 2021 to September 30, 2021.

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, and amounts due from employees, as set forth below.


	As of
	September 30, 2021		March 31, 2021
Amounts receivable from StepStone Funds	$	9,520	$	6,958
Amounts receivable from employees	716		516
Total due from affiliates	$	10,236	$	7,474

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 distributions payable to certain employee equity holders of consolidated subsidiaries, as set forth below.


	As of
	September 30, 2021		March 31, 2021
Amounts payable to non-controlling interest holders in connection with Tax Receivable Agreements	$	142,819	$	107,216
Amounts payable to StepStone Funds	1,751		2,740
Distributions payable to certain employee equity holders of consolidated subsidiaries	3,664		3,566
Total due to affiliates	$	148,234	$	113,522

The Company made no payments under the Tax Receivable Agreements for three months ended September 30, 2021 and payments of $0.6 million during the six months ended September 30, 2021.