StepStone Group Reports Third Quarter Fiscal Year 2026 Results

Core Insights - StepStone Group Inc. reported its third quarter results for the fiscal year ending March 31, 2026, highlighting significant growth in revenues and performance fees [1][4]. Financial Performance - Total revenues for the quarter ended December 31, 2025, reached $586.5 million, a 73% increase compared to $339.0 million in the same quarter of the previous year [6][17]. - Management and advisory fees for the same period were $239.9 million, up 26% from $190.8 million year-over-year [6][17]. - Total performance fees surged to $346.6 million, a 134% increase from $148.2 million in the prior year [6][17]. - The company reported a net loss of $162.4 million for the quarter, compared to a net loss of $287.2 million in the same quarter of the previous year, indicating a 43% improvement [6][17]. Dividends - The Board of Directors declared a quarterly cash dividend of $0.28 per share of Class A common stock, payable on March 13, 2026, to shareholders of record as of February 27, 2026 [1]. Assets Under Management - As of December 31, 2025, StepStone managed approximately $811 billion in total capital, including $220 billion in assets under management (AUM) [4][6]. Key Business Metrics - Fee-related earnings (FRE) for the quarter were $78.6 million, with a FRE margin of 37% [6][8]. - Adjusted net income (ANI) was reported at $66.7 million, reflecting a 19% increase year-over-year [6][8]. - The company’s weighted-average shares of Class A common stock increased to 79.5 million, an 8% rise compared to the previous year [6][8].