Total revenues

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
Focused commingled funds	$104.44M	$107.27M	$104.89M	$123.53M	$118.67M	$125.34M	$143.3M	$160.45M
SMAs	$57.38M	$61.39M	$66.25M	$67.7M	$70.38M	$71.69M	$75.23M	$76.34M
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
Fund reimbursement revenues	$1.44M	$1.19M	$2.25M	$2.25M	$2.19M	$2.2M	$3.11M	$3.08M
Total	$186.4M	$271.68M	$339.02M	$377.73M	$364.29M	$454.23M	$586.51M	$588.58M

Management and advisory fees, netView metric

Total incentive feesView metric

Carried Interest AllocationsView metric

Legacy Greenspring Carried Interest AllocationsView metric

Performance FeesView metric

Focused commingled fundsView metric

Advisory and other servicesView metric

Fund reimbursement revenuesView metric

Income Based Incentive FeesView metric