StepStone Group Inc. Reports Fourth Quarter and Fiscal Year 2025 Results

StepStone Group Inc., a global private markets investment firm, has released its financial results for the fourth quarter and fiscal year ending March 31, 2025. The company, which specializes in providing customized investment solutions and advisory services, reported significant financial and operational metrics in its latest SEC 8-K filing.

Financial Highlights

For the quarter ended March 31, 2025, StepStone Group reported:

• Management and advisory fees, net, increased to $213.4 million, up from $153.4 million in the same period last year.
• Total revenues rose to $377.7 million, compared to $356.8 million in the previous year.
• Net income for the quarter was $13.2 million, a significant drop from $82.5 million in the same quarter last year.
• Basic and diluted net income per share of Class A common stock was $(0.24), down from $0.48 in the previous year.

Business and Operational Highlights

StepStone Group's assets under management (AUM) grew to $189.4 billion, a 21% increase from the previous year. The company also reported assets under advisement (AUA) of $519.7 billion, remaining relatively stable compared to the previous year. Fee-earning AUM (FEAUM) increased by 29% to $121.4 billion.

Strategic Initiatives and Corporate Developments

The Board of Directors declared a quarterly cash dividend of $0.24 per share of Class A common stock and a supplemental cash dividend of $0.40 per share, both payable on June 30, 2025. The company also highlighted its continued focus on expanding its private markets portfolios across various asset classes, including private equity, infrastructure, private debt, and real estate.

Management's Perspective

Management expressed confidence in the company's strategic direction and highlighted the robust growth in AUM and FEAUM. They acknowledged the challenges faced during the fiscal year but emphasized the company's resilience and ability to adapt to market conditions.

Future Outlook

Looking ahead, StepStone Group provided guidance for continued growth in AUM and FEAUM, driven by strong client demand and strategic investments. The company remains focused on delivering value to its clients and shareholders through its diversified investment solutions and advisory services.

SEC Filing: StepStone Group Inc. [ STEP ] - 8-K - May. 22, 2025