XML 53 R34.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

Investments (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2024
Equity Method Investments and Joint Ventures [Abstract] |
Equity method investments | The Company’s equity method investments consist of the following:
| As of March 31,
| 2024 |  | 2023
Investments in funds(1) | 135,043 |  |  | 115,187 |
Accrued carried interest allocations | 1,354,051 |  |  | 1,227,173 |
Legacy Greenspring investments in funds and accrued carried interest allocations(2) | 631,197 |  |  | 770,652 |
Total equity method investments | 2,120,291 |  |  | 2,113,012 |
_______________________________ (1)The Company’s investments in funds were $204.8 million and $147.5 million as of March 31, 2024 and 2023, respectively. The consolidation of the Consolidated Funds results in the elimination of the Company’s investments in such funds. (2)Reflects investments in funds of $147.0 million and $152.7 million and carried interest allocations of $484.2 million and $618.0 million as of March 31, 2024 and 2023, respectively. The Company recognized equity method income (loss) of the following:
| Year Ended March 31,
| 2024 |  | 2023 |  | 2022
Carried interest allocations | $ | 176,309 |  |  | $ | (122,253) |  |  | $ | 786,569 |
Investment income (loss) | 7,452 |  |  | (2,509) |  |  | 26,160 |
Legacy Greenspring carried interest allocations | (75,157) |  |  | (452,163) |  |  | 187,106 |
Legacy Greenspring investment income (loss) | (9,087) |  |  | (44,075) |  |  | 32,586 |
Total equity method income (loss) | $ | 99,517 |  |  | $ | (621,000) |  |  | $ | 1,032,421 |
Summarized financial information for the Company’s equity method investments reflected below represents the financial position as of March 31, 2024 and 2023, and the results of operations for the years ended March 31, 2024, 2023 and 2022, which are reported on a three-month lag. Assets are primarily composed of the investments held by the StepStone Funds.
| As of March 31,
| 2024 |  | 2023
Assets | $ | 73,311,149 |  |  | $ | 65,536,494 |
Liabilities | 2,083,509 |  |  | 1,806,252 |
Equity | $ | 71,227,640 |  |  | $ | 63,730,242 |
| Year Ended March 31,
| 2024 |  | 2023 |  | 2022
Investment income | $ | 131,521 |  |  | $ | 115,092 |  |  | $ | 84,279 |
Expenses | (631,707) |  |  | (446,413) |  |  | (382,704) |
Net realized and unrealized gain (loss) on investments | 3,121,627 |  |  | (4,966,901) |  |  | 16,868,454 |
Income tax expense | (28,979) |  |  | (12,261) |  |  | (10,875) |
Net income (loss) | $ | 2,592,462 |  |  | $ | (5,310,483) |  |  | $ | 16,559,154 |
Schedule of Consolidated Funds | Investments held by the Consolidated Funds are summarized below:
| Fair Value as of March 31, |  | Percentage of Total Investments as of March 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
Investments of Consolidated Funds: |  |  |  |  |  |  |
Equity securities (cost of $15.6 million and $— million as of March 31, 2024 and 2023, respectively) | $ | 17,028 |  |  | $ | — |  |  | 13 | % |  | — | %
Partnership and LLC interests (cost of $76.0 million and $21.3 million as of March 31, 2024 and 2023, respectively) | 114,830 |  |  | 30,595 |  |  | 87 | % |  | 100 | %
Total investments of Consolidated Funds | $ | 131,858 |  |  | $ | 30,595 |  |  | 100 | % |  | 100 | %
The following table summarizes the net realized and unrealized gains (losses) from investment activities of the Consolidated Funds:
| Year Ended March 31,
| 2024 |  | 2023 |  | 2022
Investments of Consolidated Funds: |  |  |  |  |
Net realized gains on investments | $ | 2,325 |  |  | $ | 3 |  |  | $ | — |
Net unrealized gains on investments | 26,147 |  |  | 9,312 |  |  | — |

X
- Definition Consolidated Funds Investments + References No definition available. + Details
Name: | step_ConsolidatedFundsInvestmentsTableTextBlock
Namespace Prefix: | step_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityMethodInvestmentsAndJointVenturesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
Name: | us-gaap_EquityMethodInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration