Recent developments highlight StepStone's ongoing business expansion, fundraisings, geographic growth, and recognition in the investment consultancy space.

• StepStone Group announced the date for Q1 Fiscal 2026 results release as August 7, 2025 [N1].
• The firm enhanced access to European private market funds through a partnership with Goji [N2].
• StepStone Real Estate received the 2025 IPE Real Estate Global Award for Investment Consultancy of the Year [N3].
• StepStone expanded its presence in South Korea by opening a new office in Jeonju [N4].
• The company opened a new office in Dublin, Ireland to enhance private market solutions for EU clients [N8].
• StepStone raised $705 million for its Tactical Growth Fund IV focused on growth equity opportunities [N2].
• The firm announced the final closing of its $3.77 billion SREP V Fund, the largest real estate secondaries fund to date [N3].
• StepStone promoted 10 new partners and 24 new managing directors, indicating ongoing talent development [N3].

StepStone's scale and integrated platform position it to capitalize on the growing demand for private markets exposure globally. Its proprietary data and technology platforms provide differentiated insights that can enhance investment selection and portfolio management. The firm's ability to offer customized solutions across multiple asset classes and commercial structures supports client retention and expansion. Recent capital raises and fund closings demonstrate continued investor interest and confidence. The firm's global expansion, including new offices in South Korea and Ireland, and strategic partnerships enhance its distribution capabilities and access to diverse markets.

StepStone faces risks inherent in private markets investing, including valuation uncertainties, illiquidity, and market volatility that can affect investment performance and fee generation. The firm's financial results include a net loss and negative EPS for fiscal 2026, reflecting potential challenges in profitability. Concentration risks exist despite diversification, as market downturns in specific asset classes or regions could materially impact returns. The firm is also exposed to operational risks related to integration of acquisitions, regulatory compliance, and reliance on third-party service providers. Changes in client mandates or termination of contracts could reduce assets under management and advisory, impacting revenues.

StepStone's competitive advantages stem from its global scale with local teams providing regional insights, multi-asset class expertise, and a proprietary data and technology platform that enhances investment decision-making and client servicing. The firm's extensive proprietary database and integrated software solutions (SPI by StepStone) offer a significant information advantage in the private markets, which are traditionally opaque and complex. Its large and experienced team, including many partners with over 20 years of industry experience, supports strong client relationships and operational execution. The firm's diversified client base and broad range of investment vehicles reduce dependency on any single client or product, contributing to business resilience.

• Investment Performance and Market Risks: StepStone's success depends on identifying suitable investment opportunities and market conditions. Illiquid and high-risk private market assets may experience valuation volatility and may not realize expected returns, potentially impacting the firm's financial results [S1][S18].
• Client Concentration and Mandate Termination: Although diversified, the loss or reduction of significant client mandates or termination of management agreements could materially reduce revenues and assets under management [S20][S22].
• Operational and Integration Risks: The firm faces risks related to integrating acquisitions, managing a global workforce, and maintaining proprietary technology platforms. Failure to manage these effectively could adversely affect operations [S14].
• Liquidity and Financial Risks: StepStone maintains cash and equivalents with financial institutions, which may exceed insured limits, exposing the firm to potential losses in case of institutional failures. The firm also carries debt and must comply with related covenants, which could constrain operations [S13][S17].

• StepStone Group Inc. is a global private markets investment firm providing customized investment solutions, advisory, and data services to a diverse client base including large pension funds, sovereign wealth funds, insurance companies, endowments, foundations, family offices, and private wealth clients [S1].
• As of March 31, 2026, StepStone was responsible for approximately $885 billion of total capital, including $233 billion of assets under management (AUM) and $652 billion of assets under advisement (AUA) [S1].
• The firm operates across private equity, infrastructure, private debt, and real estate asset classes, utilizing investment strategies including primaries, secondaries, and co-investments [S1].
• StepStone has a global presence with offices in 31 cities across 19 countries on five continents, with approximately 45% of investment professionals based outside the United States [S1].
• The company emphasizes a full-service, customized approach leveraging proprietary data and technology platforms collectively branded as SPI by StepStone, including SPI Research, SPI Reporting, and SPI Pacing, which support investment decision-making, portfolio monitoring, and liquidity forecasting [S1].
• As of March 31, 2026, StepStone had over 1,310 employees, including approximately 420 investment professionals and 890 operating and implementation staff [S1].
• StepStone's business model includes separately managed accounts (SMAs), focused commingled funds, advisory and data services, and portfolio analytics and reporting, with SMAs comprising $136 billion of AUM and focused commingled funds $81 billion of AUM as of March 31, 2026 [S1].
• Management and advisory fees grew from $285 million in fiscal 2021 to $926 million in fiscal 2026, reflecting a 27% compounded annual growth rate [S1].
• The firm had $40.1 billion of committed but undeployed fee-earning capital as of March 31, 2026 [S1].
• StepStone had 528 revenue-generating asset management and advisory programs as of March 31, 2026, with no single client contributing more than 5% of total management and advisory fees [S1].
• As of March 31, 2026, StepStone had over 250 investment programs with potential to earn performance fees, with accrued carried interest allocations balance of $2,037 million [S1].
• StepStone reported fiscal year 2026 revenue of approximately $1.9936 billion and a net loss of $535.8 million, with basic and diluted EPS of -6.78 as of March 31, 2026 [S1].
• Cash and cash equivalents were $143.6 million as of September 30, 2022, per the latest available SEC filing [S2].
• Recent news highlights include expansion of StepStone's presence in South Korea and Ireland, raising $705 million for a growth equity fund, final closing of a $3.77 billion real estate secondaries fund, and receipt of a 2025 IPE Real Estate Global Award for Investment Consultancy of the Year [N2][N3][N4][N8].
• StepStone announced Q1 fiscal 2026 results release date as August 7, 2025 [N1].
• The company promotes new partners and managing directors, indicating ongoing talent development [N3].
• StepStone enhances access to European private market funds through a partnership with Goji [N2].