Service fees

StepStone Group Inc.·Products & Services·12 segments·Rolls up to Total Revenue

Breakdown

Segment	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26	Q2 '26	Q3 '26	Q4 '26
Advisory and other services	$14.77M	$14.91M	$17.46M	$19.93M	$19.94M	$16.26M	$18.3M	$20M
Income Based Incentive Fees	—	—	—	—	$4.4M	$5.3M	$6M	$7.1M
SMAs	$800K	$2.88M	$66.25M	$5.2M	$70.38M	$4.85M	$75.23M	$5.42M
Fund reimbursement revenues	$1.44M	$1.19M	$2.25M	$2.25M	$2.19M	$2.2M	$3.11M	$3.08M
Focused commingled funds	$41K	$280K	$22.37M	$707K	$190K	$49K	$207.95M	$1.67M
Total	$186.4M	$271.68M	$339.02M	$377.73M	$364.29M	$454.23M	$586.51M	$588.58M

Advisory and other servicesView metric

Carried Interest AllocationsView metric

Focused commingled fundsView metric

Fund reimbursement revenuesView metric

Income Based Incentive FeesView metric

Legacy Greenspring Carried Interest AllocationsView metric

Management and advisory fees, netView metric

Performance FeesView metric

Total incentive feesView metric