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StepStone Group Inc. STEP Carried Interest Allocations — Total carried interest allocations

Other product segments

Carried Interest Allocation, Focused Commingled Funds
$171.86M+191%
Carried Interest Allocation, Separately Managed Accounts
$67.77M+77.9%
Legacy gross carried interest allocation, focused comingled funds
$1.3M-79.4%
Legacy carried interest allocation, SMAs
$348K

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ARESCarried interest — Total revenues
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BAMCarried Interest Allocation Compensation
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KKRAsset Management and Strategic Holdings — Carried Interest
$816.03M-23.6%
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-$18.12M+46.7%
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KKRAsset Management — Realized Carried Interest
$719.9M+120%

Other financials

Income statement

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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

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Operating cash flow$27.2M-1.5%
CapEx$762.0K-71.4%
Free cash flow$26.7M-1.1%

Valuation

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Market cap$3.51B-3.5%

Profitability

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Net margin-26.9%+84.4pp
FCF margin11.8%

Returns & leverage

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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 us-gaap:RevenueNotFromContractWithCustomer.

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 carried interest allocations — total carried interest allocations?
StepStone Group Inc. (STEP) reported carried interest allocations — total carried interest allocations of $239.6M in Q1 2026.
How has StepStone Group Inc.'s carried interest allocations — total carried interest allocations changed year-over-year?
StepStone Group Inc.'s carried interest allocations — total carried interest allocations increased by 146.8% year-over-year, from $97.1M to $239.6M.
What is the long-term trend for StepStone Group Inc.'s carried interest allocations — total carried interest allocations?
Over 3 years (2022 to 2026), StepStone Group Inc.'s carried interest allocations — total carried interest allocations has grown at a -3.4% compound annual growth rate (CAGR), from $786.6M to $708.3M.
What does carried interest allocations — total carried interest allocations mean?
This metric tracks the total allocation of carried interest, representing the portion of investment profits distributed to the firm as compensation for its role as a general partner or investment manager. It measures the realized and unrealized performance incentives accrued from private market assets. Investors use this to assess the firm's alignment with limited partners and the underlying performance of the managed investment funds.