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Related Party Transactions
 3 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
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 $123.7 million and $92.8 million for the three months ended June 30, 2024 and 2023. Carried interest allocation revenues earned from the StepStone Funds totaled $16.6 million and $63.8 million for the three months ended June 30, 2024 and 2023, respectively. Legacy Greenspring carried interest allocation revenues earned from certain legacy Greenspring funds for which the Company has no direct economic interests totaled $(9.1) million and $(23.9) million for the three months ended June 30, 2024 and 2023, 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, 2024March 31, 2024
Amounts receivable from StepStone Funds$71,921 $40,588 
Amounts receivable from employees14,749 13,450 
Amounts receivable from loans13,607 13,493 
Total due from affiliates$100,277 $67,531 
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
June 30, 2024March 31, 2024
Amounts payable to non-controlling interest holders in connection with Tax Receivable Agreements$215,349 $206,841 
Amounts payable to StepStone Funds8,122 5,844 
Distributions payable to certain employee equity holders of consolidated subsidiaries— 233 
Total due to affiliates$223,471 $212,918 
The Company made payments of $9.8 million and $7.7 million during the three months ended June 30, 2024 and 2023, respectively, under the Tax Receivable Agreements.