StepStone Group Inc-A 2024年度报告

10172§240.10D-1(b).‘ Table of ContentsPART IPART IIMarket for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases ofManagement’s Discussion and Analysis of Financial Condition and Results of OperationsQuantitative and Qualitative Disclosures About Market RiskFinancial Statements and Supplementary DataChanges in and Disagreements with Accountants on Accounting and Financial DisclosureDisclosure Regarding Foreign Jurisdictions that Prevent InspectionsPART IIIDirectors, Executive Officers and Corporate GovernanceSecurity Ownership of Certain Beneficial Owners and Management and Related Stockholder MattersCertain Relationships and Related Transactions, and Director IndependencePART IVExhibit and Financial Statement Schedules3 This annual report on Form 10-K (“Form 10-K”) includes certain information regarding the historicalinvestment performance of our focused commingled funds and separately managed accounts. An investment inshares of our Class A common stock is not an investment in any StepStone Fund (as defined below). The StepStoneFunds are separate, distinct legal entities that are not our subsidiaries. In the event of our bankruptcy or liquidation,you will have no claim against the StepStone Funds. In considering the performance information relating to theStepStone Funds contained herein, current and prospective Class A common stockholders should bear in mind thatthe performance of the StepStone Funds is not indicative of the possible performance of shares of our Class Acommon stock and also is not necessarily indicative of the future results of the StepStone Funds, even if fundinvestments were in fact liquidated on the dates indicated, and we cannot assure you that the StepStone Funds willcontinue to achieve, or that future StepStone Funds will achieve, comparable results.Unless otherwise indicated or the context otherwise requires:• “StepStone Group Inc.” or “SSG” refers solely to StepStone Group Inc., a Delaware corporation, and notto any of its subsidiaries;• the “Partnership” refers solely to StepStone Group LP, a Delaware limited partnership, and not to any ofits subsidiaries;• “General Partner” refers to StepStone Group Holdings LLC, a Delaware limited liability company, andthe sole general partner of the Partnership;• “we,” “us,” “our,” the “Company,” “our company,” “StepStone” and similar terms refer to SSG and itsconsolidated subsidiaries, including the Partnership;• “StepStone Funds” or “our funds” refer to our focused commingled funds and our separately managedaccounts for which we act as both investment adviser and general partner or managing member;• references to the “Greenspring acquisition” refer to the acquisition of Greenspring Associates, Inc. andcertain of its affiliates (“Greenspring”) that was completed on September 20, 2021;• references to “FY,” “fiscal” or “fiscal year” are to the fiscal year ended March 31 of the applicable year;• references to the “Reorganization” refer to the series of transactions immediately before the Company’sinitial public offering (“IPO”), which was completed on September 18, 2020;• references to “private markets allocations” or “total capital responsibility” refer to the aggregateamount of our assets under management(“AUM”)and our assets under advisement(“AUA”);• references to “high-net-worth” individuals refer to individuals with net worth of over $5 million,excluding primary residence;• references to “mass affluent” individuals refer to individuals with annual income over $200,000 or networth between $1 million and $5 million, excluding primary residence;• references to “Consolidated Funds” refer to the StepStone Funds that we are required to consolidate as ofthe applicable reporting period; and• references to “SRA” refer to StepStone Group Real Assets LP, references to “SRE” refer to StepStoneGroup Real Estate LP, references to “SPD” refer to StepStone Group Private Debt AG, and references to“SPW” refer to StepStone Group Private Wealth LLC.4 TRADEMARKS, SERVICE MARKS AND TRADE NAMESWe own or have rights to trademarks, service marks or trade names that we use in connection with theoperation of our business. In addition, our names, logos and website names and addresses are owned by us orlicensed by us. We also own or have the rights to copyrights that protect the content of our solutions. Solely forconvenience, the trademarks, service marks, trade names and copyrights referred to in this Form 10-K are listedwithout the ©, ® and ™ symbols, but we will assert, to the fullest extent under applicable law, our rights or therights of the applicable licensors to these trademarks, service marks, trade names and copyrights.FORWARD-LOOKING STATEMENTSThis Form 10-K contains forward-looking statements within the meaning of Section 27A of the SecuritiesAct of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, asamended (the “Exchange Act”). All statements other than statements of historical fa