StepStone Group Inc. has recently released its 10-K report, providing a comprehensive insight into its financial condition and operations. The firm, founded in 2007 and based in New York, is a global private markets investment firm specializing in various investment strategies, including private equity, infrastructure, private debt, and real estate asset classes. StepStone caters to a diverse client base, including pension funds, sovereign wealth funds, insurance companies, endowments, foundations, family offices, and high-net-worth individuals, with approximately $709 billion of total capital under its responsibility as of March 31, 2025.
In the 10-K report, StepStone highlighted its revenue sources, which primarily come from management and advisory fees, as well as performance fees earned from the StepStone Funds and its clients. The firm also invests its own capital in the funds it manages to align its interests with those of its clients, earning a pro-rata share of the fund results and potential performance-based fees.
The report also discussed the various trends affecting StepStone's business, including the impact of global economic conditions, regulatory environment, and market factors. The firm emphasized its disciplined investment philosophy across diversified strategies, operating at scale across all four private markets asset classes, and serving clients across a broad range of geographies and sizes to mitigate against concentration risk.
Additionally, the report highlighted the corporate transactions undertaken by StepStone, such as the issuance of $175.0 million aggregate principal amount of senior notes and the purchase of asset class non-controlling interests. These transactions demonstrate the firm's strategic financial decisions and its commitment to expanding its investment capabilities.
Moreover, the report addressed the current events that have influenced financial markets, including the impact of easing inflation, interest rate changes by the Federal Reserve, and economic slowdowns. StepStone emphasized its vigilance in monitoring developments related to inflation, interest rates, trade, regulatory and governmental policies, and geopolitical tensions, assessing their potential impact on financial markets and the firm's business.
As a result of these announcements, the company's shares have moved 3.54% on the market, and are now trading at a price of $58.72. Check out the company's full 10-K submission here.
