What does initial consolidation of consolidated funds mean?

The increase in noncontrolling interest equity resulting from the initial consolidation of investment funds or entities into the company's financial statements. This captures the portion of net assets in consolidated vehicles that is attributable to third-party investors rather than the parent company.

StepStone Group Inc. STEP Initial consolidation of Consolidated Funds

Initial consolidation of Consolidated Funds at other companies

The Carlyle GroupCG

-$8.9M-116%

BlackrockBLK

-$248M+52.5%

The Carlyle GroupCG

$14.33B+53.6%

BKBK

$47M-7.8%

BlackrockBLK

$5M+400%

Independence Realty TrustIRT

$0—

Other financials

Income statement

See full

Revenue$588.6M+55.8%

Net income-$7.8M+57.9%

EPS (diluted)-$0.06+70.0%

Balance sheet

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Cash & equivalents$378.0M+35.2%

Total debt$103.6M-72.9%

Total equity-$413.6M-331%

Total assets$6.8B+47.4%

Cash flow

See full

Operating cash flow$27.2M-1.5%

CapEx$762.0K-71.4%

Free cash flow$26.7M-1.1%

Valuation

See full

Market cap$3.51B-3.5%

Profitability

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Net margin-26.9%+84.4pp

FCF margin11.8%—

Returns & leverage

See full

Return on equity-88.8%-97.7pp

Debt / equity2.5×+1.7×

Where this comes from

Reported directly by StepStone Group Inc. in its filing.

Tagged under the XBRL concept step:NoncontrollingInterestIncreaseFromInitialConsolidationOfConsolidatedFunds.

The official record: StepStone Group Inc.’s 10-K, filed May 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is StepStone Group Inc.'s initial consolidation of consolidated funds?: StepStone Group Inc. (STEP) reported initial consolidation of consolidated funds of $98.52M in Q1 2026.
What does initial consolidation of consolidated funds mean?: The increase in noncontrolling interest equity resulting from the initial consolidation of investment funds or entities into the company's financial statements. This captures the portion of net assets in consolidated vehicles that is attributable to third-party investors rather than the parent company.