STEP on Nasdaq

StepStone Group Inc.

In its 2026 annual report the company says: “We are a global private markets investment firm focused on providing customized investment solutions and advisory and data services to our clients. We partner with our clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.”5 It is headquartered in New York, New York.1 Its shares trade on Nasdaq under the symbol STEP.1

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Last updated Oct 20, 2026.

Overview

$2.0BRevenue, fiscal 20262
-$535.8MNet income, fiscal 20262

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  • TickerSTEP on Nasdaq1
  • IndustryInvestment Advice1
  • HeadquartersNew York, New York1
  • Business address277 Park Avenue, 45Th Floor, New York, Ny 101723
  • Filer categoryLarge accelerated filer3

We are a global private markets investment firm focused on providing customized investment solutions and advisory and data services to our clients. Our clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. We partner with our clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes. These portfolios utilize several types of synergistic investment strategies with third-party fund managers, including commitments to funds (“primaries”), acquiring stakes in existing funds on the secondary market (“secondaries…5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

-26.9%Net margin2
69.7%Revenue growth, 20262
$63.9MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Carried Interest Allocation, Unrealized brought in 32% of the revenue StepStone Group Inc. broke down this way in fiscal 2026.

  1. Carried Interest Allocation, Unrealized$539.7M232%up 281% from 2025
  2. Management And Advisory Fees, Net, Separately Managed Accounts$293.6M217%up 16% from 2025
  3. Incentive Fees$220.1M213%up 582% from 2025
  4. Incentive Fees, Focused Commingled Funds$209.9M212%up 797% from 2025
  5. Carried Interest Allocation, Realized$168.6M210%up 6% from 2025
  6. Legacy Carried Interest Allocation$138.7M28%up 87% from 2025
  7. Management And Advisory Fees, Net, Advisory And Other Services$74.5M24%up 11% from 2025
  8. Income Based Incentive Fees$22.8M21%up 185% from 2025
  9. Management And Advisory Fees, Net, Fund Reimbursement Revenues$10.6M21%up 49% from 2025
  10. Incentive Fees, Separately Managed Accounts$10.3M21%up 16% from 2025
Products and services by year
Products and services202420252026
Carried Interest Allocation, Unrealized$126.9M$141.5M$539.7M
Management And Advisory Fees, Net, Separately Managed Accounts$224.0M$252.7M$293.6M
Incentive Fees$25.3M$32.3M$220.1M
Incentive Fees, Focused Commingled Funds$9.0M$23.4M$209.9M
Carried Interest Allocation, Realized$49.4M$159.7M$168.6M
Legacy Carried Interest Allocation-$75.2M$74.3M$138.7M
Management And Advisory Fees, Net, Advisory And Other Services$60.1M$67.1M$74.5M
Income Based Incentive Fees$1.4M$8.0M$22.8M
Management And Advisory Fees, Net, Fund Reimbursement Revenues$5.2M$7.1M$10.6M
Incentive Fees, Separately Managed Accounts$16.3M$8.9M$10.3M

Regions

United States brought in 54% of the revenue StepStone Group Inc. broke down this way in fiscal 2026.

  1. United States$1.1B254%up 106% from 2025
  2. Outside the United States$921.9M246%up 41% from 2025
Regions by year
Regions202420252026
United States$191.4M$521.2M$1.1B
Outside the United States$520.3M$653.6M$921.9M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Other costs93¢$1.8B
  • Income tax7¢$147.9M

Out of $2.0B in revenue.2 The company lost money this year.

Where each dollar of operating cash went, fiscal 2026

  • Capital spending2¢$2.6M
  • Dividends paid91¢$117.8M
  • Share buybacks7¢$8.7M

Out of $66.5M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2

Financial statements

Revenue6789102$2.0B in 2026+678% since 2019
-$1.0B0$1.0B$2.0B2019: $256.3M$256.3M20192020: $446.6M$446.6M2020+74%2021: $787.7M$787.7M2021+76%2022: $1.4B$1.4B2022+73%2023: -$67.6M-$67.6M20232024: $711.6M$711.6M20242025: $1.2B$1.2B2025+65%2026: $2.0B$2.0B2026+70%
Net income6789102-$535.8M in 2026
-$600.0M-$400.0M-$200.0M0$200.0M2019: $0$020192020: $0$020202021: $62.6M$62.6M20212022: $193.9M$193.9M2022+210%2023: -$18.4M-$18.4M20232024: $58.1M$58.1M20242025: -$179.6M-$179.6M20252026: -$535.8M-$535.8M2026+198%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2026-03-312025-03-312024-03-31
Total revenues$2.0B$1.2B$711.6M
Cash-based compensation$414.1M$331.8M$293.0M
Equity-based compensation$1.7B$669.1M$42.4M
Realized$192.6M$94.7M$37.7M
Unrealized$342.2M$94.3M$74.7M
Total performance fee-related compensation$534.8M$189.0M$112.4M
Legacy Greenspring performance fee-related compensation$138.7M$74.3M-$75.2M
Total compensation and benefits$2.8B$1.3B$372.5M
General, administrative and other$187.3M$177.4M$167.3M
Total expenses$3.0B$1.4B$539.9M
Investment income$40.8M$15.1M$7.5M
Legacy Greenspring investment loss$4.9M-$1.2M-$9.1M
Investment income of Consolidated Funds$92.4M$65.4M$28.5M
Interest income$11.8M$10.8M$3.7M
Interest expense-$18.5M-$12.7M-$9.3M
Other income (loss)$697.0K-$32.6M$2.5M
Total other income$132.2M$44.8M$23.6M
Income (loss) before income tax-$891.2M-$222.0M$195.4M
Income tax expense (benefit)-$147.9M-$49.2M$27.6M
Net income-$743.3M-$172.8M$167.8M
Less: Net income attributable to redeemable non-controlling interests$66.0M$53.7M$15.8M
Net income (loss) attributable to StepStone Group Inc.-$535.8M-$179.6M$58.1M
Basic (in dollars per share)-$6.78-$2.52$0.91
Diluted (in dollars per share)-$6.78-$2.52$0.91
Basic (in shares)79.0M shares71.1M shares63.5M shares
Diluted (in shares)79.0M shares71.1M shares66.5M shares
Dividends declared per share of Class A common stock (in dollars per share)$1.48$1.08$1.08

Compare StepStone Group Inc. with another company

Corporate structure

StepStone Group Inc. sits at the top of its group. 392 entities, 14 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of StepStone Group Inc.

  • MILLENNIUM MANAGEMENT LLC Filed SCHEDULE 13G/A on StepStone Group Inc., latest Jul 31, 2026 (6 filings since Jun 20, 2024)
  • Invesco Filed SCHEDULE 13G/A on StepStone Group Inc., latest May 6, 2026 (2 filings since May 9, 2025)
  • VANGUARD CAPITAL MANAGEMENT LLC Filed SCHEDULE 13G on StepStone Group Inc., latest Apr 30, 2026
  • VANGUARD PORTFOLIO MANAGEMENT LLC Filed SCHEDULE 13G on StepStone Group Inc., latest Apr 29, 2026
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on StepStone Group Inc., latest Mar 27, 2026 (7 filings since Feb 10, 2022)
  • James Lim Filed SCHEDULE 13D/A on StepStone Group Inc., latest Jan 14, 2026 (6 filings since Jul 3, 2023)
  • ARG Private Equity, LLC Filed SCHEDULE 13D/A on StepStone Group Inc., latest Jan 8, 2026 (2 filings since Nov 19, 2021)
  • PRICE T ROWE ASSOCIATES INC /MD/ Filed SCHEDULE 13G/A on StepStone Group Inc., latest Nov 14, 2025 (6 filings since Oct 12, 2021)
  • Wellington Management Company Filed SCHEDULE 13G on StepStone Group Inc., latest Nov 12, 2025 (7 filings since Oct 8, 2021)
  • Jose A. Fernandez Filed SCHEDULE 13D on StepStone Group Inc., latest Sep 18, 2025
  • Monte M. Brem Filed SCHEDULE 13D/A on StepStone Group Inc., latest Sep 18, 2025 (19 filings since Oct 28, 2021)
  • Thomas Keck Filed SCHEDULE 13D on StepStone Group Inc., latest Sep 18, 2025
  • StepStone Group Inc. New York, New York
    • Blackbird GA 2020 GP, LLC Subsidiary · Delaware, United States
    • Blackbird GSC, L.P. Subsidiary · Delaware, United States
    • Edamame Administrative Member LLC Subsidiary · Delaware, United States
    • G1 SRE SMA GP, LLC Subsidiary · Delaware, United States
    • Greenspring Associates Newco, LLC Subsidiary · Delaware, United States
    • Greenspring Associates, L.P. Subsidiary · Delaware, United States
    • Real Estate Fund I Domestic GP, LLC Subsidiary · Delaware, United States
    • Real Estate Fund I International GP, LLC Subsidiary · Delaware, United States
    • Real Estate Fund II GP, LLC Subsidiary · Delaware, United States
    • SICP 2022 (GP), LLC Subsidiary · Delaware, United States
    • SICP II (GP) LLC Subsidiary · Delaware, United States
    • SICP II Europe (GP) S.a.r.l Subsidiary · Luxembourg
    • SIDF Active 1 (GP) LLC Subsidiary · Delaware, United States
    • SIDF Active 2 (GP) LLC Subsidiary · Delaware, United States
    • SilverStone 2025 Aggregator (GP), LLC Subsidiary · Delaware, United States
    • SilverStone 2026 Secondary Aggregator I (GP), LLC Subsidiary · Delaware, United States
    • SilverStone 2026 Secondary Aggregator II (GP), LLC Subsidiary · Delaware, United States
    • SilverStone 2026 Secondary Aggregator III (GP), LLC Subsidiary · Delaware, United States
    • SilverStone 2026 Secondary Aggregator IV (GP), LLC Subsidiary · Delaware, United States
    • SilverStone Blue Lion (GP), LLC Subsidiary · Delaware, United States
    • SilverStone Campari (GP), LLC Subsidiary · Delaware, United States
    • SilverStone Century (GP), LLC Subsidiary · Delaware, United States
    • SilverStone Discovery (GP), LLC Subsidiary · Delaware, United States
    • SilverStone Discovery Offshore Aggregator (GP), LLC Subsidiary · Delaware, United States
    • SilverStone Falke (GP), LLC Subsidiary · Delaware, United States
    • and 366 more

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What StepStone Group Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$44.7M2 Mar 31, 2026$43.3M2 Mar 31, 2025+3.3%
Accumulated depreciation$18.4M2 Mar 31, 2026$13.5M2 Mar 31, 2025+36.4%
Property and equipment, net$26.3M2 Mar 31, 2026$29.8M2 Mar 31, 2025−11.7%
Operating-lease assets (leased space)$81.6M2 Mar 31, 2026$91.8M2 Mar 31, 2025−11.2%

Investments

ItemLatestA year beforeChange
Stakes in other companies (equity method)$3.0B2 Mar 31, 2026$2.3B2 Mar 31, 2025+31.6%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$580.5M2 Mar 31, 2026$580.5M2 Mar 31, 20250%
Intangible assets, net (excluding goodwill)$223.0M2 Mar 31, 2026$263.9M2 Mar 31, 2025−15.5%
Accumulated amortization$225.6M2 Mar 31, 2026$184.8M2 Mar 31, 2025+22.1%
Finite-lived intangibles, net$223.0M2 Mar 31, 2026$263.9M2 Mar 31, 2025−15.5%

Properties, in its own words

We lease our corporate headquarters office space located at 277 Park Avenue, 45th Floor, New York, NY 10172. We also lease space for our offices located in Amsterdam, Baltimore, Beijing, Charlotte, Chicago, Cleveland, Dallas, Dublin, Frankfurt, Jeonju, La Jolla, London, Luxembourg, Madrid, Mexico City, Milan, Orlando, Palo Alto, Perth, Riyadh, Rome, San Francisco, Santiago, São Paulo, Seoul, Singapore, Sydney, Tokyo, Toronto and Zurich. We do not own any real property. We believe our existing facilities are adequate for our current needs and that suitable additional space will be available as and when needed.

Item 2 of the 10-K filed May 27, 2026.5

Leadership

Who has led StepStone Group Inc., and when. Pick a name to see everywhere that person has worked.

Board members and other officers (12)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Blackbird GA 2020 GP, LLC Delaware4
  • Blackbird GSC, L.P. Delaware4
  • Edamame Administrative Member LLC Delaware4
  • G1 SRE SMA GP, LLC Delaware4
  • Greenspring Associates Newco, LLC Delaware4
  • Greenspring Associates, L.P. Delaware4
  • Greenspring Associates, LLC Delaware4
  • Real Estate Fund I Domestic GP, LLC Delaware4
  • Real Estate Fund I International GP, LLC Delaware4
  • Real Estate Fund II GP, LLC Delaware4
  • SICP 2022 (GP), LLC Delaware4
  • SICP II (GP) LLC Delaware4
  • SICP II Europe (GP) S.a.r.l Luxembourg4
  • SIDF Active 1 (GP) LLC Delaware4
  • SIDF Active 2 (GP) LLC Delaware4
  • SIRA N-23, LLC Delaware4
  • SRA Capital (Canada) LTD. British Columbia, Canada4
  • SRE Alpha Bidco S.à r.l. Luxembourg4
  • SRE Alpha Holdings II S.à r.l. Luxembourg4
  • SRE Alpha Holdings S.à r.l. Luxembourg4
  • SRE Beckett CIV (GP), LLC Cayman Islands4
  • SRE IV Ignite II Investco (GP), LLC Cayman Islands4
  • SRE IV Ignite II Investco CIV (GP), LLC Cayman Islands4
  • SRE Ignite Upsize Investco (CIV GP) LLC Cayman Islands4
All 397 listed subsidiaries
  • SRE Jersey (GP), LLC Cayman Islands4
  • SRE Juniversitas (GP), LLC Cayman Islands4
  • SRE Juniversitas Blocker (GP), LLC Cayman Islands4
  • SRE Juniversitas Splitter (GP), LLC Cayman Islands4
  • SRE N-22, LLC Delaware4
  • SRE Noble S.à r.l. Luxembourg4
  • SRE Shelter (GP), LLC Cayman Islands4
  • SRE Solaris InvestCo (GP), LLC Cayman Islands4
  • SRE WWC JV GP, LLC Delaware4
  • SREP V Beckett (GP), LLC Cayman Islands4
  • SREP V Pegasus (CIV GP), LLC Cayman Islands4
  • SREP V Pegasus (GP), LLC Cayman Islands4
  • SREP V Quantum (GP), LLC Cayman Islands4
  • SREP V Quantum CIV (GP), LLC Delaware4
  • SREP V Salud (GP), LLC Cayman Islands4
  • SREP V Salud Aggregator (GP), LLC Cayman Islands4
  • SREP V Salud CIV (GP), LLC Cayman Islands4
  • SREP V Silver CIV (GP), LLC Delaware4
  • SSG AK Invest (GP) LLC Delaware4
  • SSG Da Vinci (GP), LLC Delaware4
  • SSG LP INVEST (GP) LLC Delaware4
  • SSG ME Infrastructure (GP), LLC Cayman Islands4
  • SSG ME Real Estate (GP), LLC Cayman Islands4
  • SSG OAM Private Debt GP Limited Cayman Islands4
  • SSG PD CV GP Ltd Cayman Islands4
  • SSG PKE Private Credit Maggia GP Ltd Cayman Islands4
  • SSG Peninsula (GP), LLC Cayman Islands4
  • SSG Private Credit (US) GP LLC Delaware4
  • SSG Private Credit Platform GP S.à r.l. Luxembourg4
  • SSG Private Debt GP III (Luxembourg) S.à r.l. Luxembourg4
  • SSG Private Debt GP IV (Luxembourg) S.à r.l. Luxembourg4
  • SSG Private Debt GP V S.à r.l. Luxembourg4
  • SSG Private Debt GP VI S.à r.l. Luxembourg4
  • SSG Private Debt Manager G.P. II (Cayman) Ltd. Cayman Islands4
  • SSG Z Global Property (GP), LLC Cayman Islands4
  • SSIF (GP) LLC Delaware4
  • SSIF Europe (GP) S.à r.I. Luxembourg4
  • SSIF Overage (GP) LLC Delaware4
  • STEPSTONE AMITIM (GP) LLC Delaware4
  • STEPSTONE ANDY (GP), LLC Delaware4
  • STEPSTONE KU CO-INVESTMENT PARTNERSHIP (GP), LLC Delaware4
  • STEPSTONE VC KENT RIDGE GP LLC Delaware4
  • SilverStone 2025 Aggregator (GP), LLC Delaware4
  • SilverStone 2026 Secondary Aggregator I (GP), LLC Delaware4
  • SilverStone 2026 Secondary Aggregator II (GP), LLC Delaware4
  • SilverStone 2026 Secondary Aggregator III (GP), LLC Delaware4
  • SilverStone 2026 Secondary Aggregator IV (GP), LLC Delaware4
  • SilverStone Blue Lion (GP), LLC Delaware4
  • SilverStone Campari (GP), LLC Delaware4
  • SilverStone Century (GP), LLC Delaware4
  • SilverStone Discovery (GP), LLC Delaware4
  • SilverStone Discovery Offshore Aggregator (GP), LLC Delaware4
  • SilverStone Falke (GP), LLC Delaware4
  • SilverStone FireBlazer (GP), LLC Delaware4
  • SilverStone Harpoon (GP), LLC Delaware4
  • SilverStone Medal (GP), LLC Delaware4
  • SilverStone Nolan (GP), LLC Delaware4
  • SilverStone Pebbles V (GP), LLC Delaware4
  • SilverStone Pebbles V-A (GP), LLC Delaware4
  • SilverStone Podium (GP), LLC Delaware4
  • SilverStone Rise Cayman (GP), LLC Delaware4
  • SilverStone Rise Delaware (GP), LLC Delaware4
  • SilverStone Rise Luxembourg (GP), LLC Delaware4
  • SilverStone Sequel GP, LLC Delaware4
  • SilverStone Takeoff (GP), LLC Delaware4
  • SilverStone Teton (GP), LLC Delaware4
  • SilverStone WH-A (GP), LLC Delaware4
  • StepStone (Luxembourg) GP S.À R.L. Luxembourg4
  • StepStone (Luxembourg) SCA SICAV - StepStone Private Infrastructure Fund Luxembourg4
  • StepStone A (GP), LLC Delaware4
  • StepStone A Co-Investment Partnership (GP), LLC Cayman Islands4
  • StepStone A Real Estate Co-Investment Partnership (GP), LLC Delaware4
  • StepStone AEGON (GP), LLC Delaware4
  • StepStone AMP (GP), LLC Delaware4
  • StepStone AP (GP), LLC Delaware4
  • StepStone ATLAS (GP), LLC Delaware4
  • StepStone ATS (GP), LLC Delaware4
  • StepStone AZ China and Asia (GP), LLC Delaware4
  • StepStone AZ Secondaries (GP), LLC Delaware4
  • StepStone Acorn (GP), LLC Delaware4
  • StepStone Alpha SBO Opportunities (GP), LLC Delaware4
  • StepStone Atlantic (GP), L.P. Delaware4
  • StepStone Atlantic Holdings (GP), LLC Delaware4
  • StepStone Atlas III (GP), LLC Delaware4
  • StepStone Atlas III (Offshore) (GP), LLC Cayman Islands4
  • StepStone B (GP), LLC Cayman Islands4
  • StepStone B II-G (GP), LLC Cayman Islands4
  • StepStone B II-R (GP), LLC Cayman Islands4
  • StepStone B III (GP), LLC Cayman Islands4
  • StepStone BVK (GP), S.À R.L. Luxembourg4
  • StepStone BVK RE (GP), S.À R.L Luxembourg4
  • StepStone Badger Secondary Opportunities Holdings (GP), LLC Cayman Islands4
  • StepStone Boulder (GP), LLC Delaware4
  • StepStone Boulder II, L.P. Cayman Islands4
  • StepStone C (GP), LLC Delaware4
  • StepStone CGC Opportunities (GP), Limited Cayman Islands4
  • StepStone Capital III (GP), LLC Delaware4
  • StepStone Capital IV (GP) S.À.R.L. Luxembourg4
  • StepStone Capital IV (GP), LLC Delaware4
  • StepStone Capital V (GP), LLC Cayman Islands4
  • StepStone Capital V (GP), S.À.R.L. Luxembourg4
  • StepStone Capital VI (GP) S.a.r.l Luxembourg4
  • StepStone Climate (GP) S.à r.l. Luxembourg4
  • StepStone Climate (GP), LLC Delaware4
  • StepStone Co-Investment Funds GP, LLC Delaware4
  • StepStone Consultoria Financeira Ltda. Brazil4
  • StepStone Credit Opportunities Fund I, L.P. Cayman Islands4
  • StepStone Diversified Funds GP, LLC Delaware4
  • StepStone E (GP) LLC Delaware4
  • StepStone E Offshore (GP) LLC Cayman Islands4
  • StepStone East Town (GP), LLC Delaware4
  • StepStone Europe Limited England and Wales4
  • StepStone European Fund GP, S.À.R.L. Luxembourg4
  • StepStone FERRO (GP), LLC Delaware4
  • StepStone FSS (GP), LLC Delaware4
  • StepStone Ferwa GP, LLC Cayman Islands4
  • StepStone Flintholm Infra (GP) LLC Delaware4
  • StepStone G (GP) II, LLC Delaware4
  • StepStone G (GP), LLC Delaware4
  • StepStone GC GP, LLC Delaware4
  • StepStone GC Manager, L.P. Delaware4
  • StepStone GE VII-L GP, LLC Delaware4
  • StepStone GP Solutions (GP) S.à r.l. Delaware4
  • StepStone GP Solutions (GP), LLC Delaware4
  • StepStone Gamma Real Estate Co-Investment Partnership (GP), LLC Delaware4
  • StepStone Group (CHINA) Limited China4
  • StepStone Group (HK) Limited Hong Kong4
  • StepStone Group Capital Company Saudi Arabia4
  • StepStone Group Chile SpA Chile4
  • StepStone Group Europe Alternative Investments Limited Ireland4
  • StepStone Group Europe LLP United Kingdom4
  • StepStone Group Holdings LLC Delaware4
  • StepStone Group LP Delaware4
  • StepStone Group Limited United Arab Emirates4
  • StepStone Group Luxembourg S.À R.L Luxembourg4
  • StepStone Group Mexico Holdings LLC Delaware4
  • StepStone Group Mexico Holdings, SdeRL Mexico4
  • StepStone Group Private Debt AG Switzerland4
  • StepStone Group Private Debt LLC Delaware4
  • StepStone Group Private Wealth LLC Delaware4
  • StepStone Group Real Assets Holdings LLC Delaware4
  • StepStone Group Real Assets LP Delaware4
  • StepStone Group Real Estate Holdings LLC Delaware4
  • StepStone Group Real Estate LP Delaware4
  • StepStone Group Singapore Pte. Ltd. Singapore4
  • StepStone Growth Equity II-A GP LLC Delaware4
  • StepStone H (GP), LLC Delaware4
  • StepStone HB Real Estate (GP), LLC Cayman Islands4
  • StepStone HCSCMPTEPP (GP), LLC Delaware4
  • StepStone HF (GP), LLC Delaware4
  • StepStone HF Private Debt (GP), LLC Delaware4
  • StepStone HF Real Estate (GP), LLC Delaware4
  • StepStone HF Venture (GP), LLC Delaware4
  • StepStone Holyrood Infrastructure (GP), LLC Delaware4
  • StepStone Holyrood Neptune (GP), LLC Delaware4
  • StepStone Holyrood Private Equity (GP), LLC Delaware4
  • StepStone Horizons (GP), LLC Delaware4
  • StepStone IP Infra (GP) LLC Delaware4
  • StepStone IP Infrastructure Opportunities (GP), LLC Delaware4
  • StepStone Infrastructure Co-Investment Partners 2022 Europe (GP) S.A.R.L. Luxembourg4
  • StepStone JP (GP) II, LLC Delaware4
  • StepStone JP (GP), LLC Delaware4
  • StepStone K Infra Strat (GP), LLC Cayman Islands4
  • StepStone K Infrastructure (GP) II, LLC Cayman Islands4
  • StepStone K Infrastructure (GP), LLC Cayman Islands4
  • StepStone K Infrastructure Opportunities (GP) III LLC Cayman Islands4
  • StepStone K Opportunities (GP), LLC Delaware4
  • StepStone K Real Estate (GP), LLC Cayman Islands4
  • StepStone K Real Estate II (GP), LLC Cayman Islands4
  • StepStone KF (GP), LLC Delaware4
  • StepStone L Global Infra (GP), LLC Delaware4
  • StepStone LMM (GP), LLC Delaware4
  • StepStone LS (GP) S.a.r.l Luxembourg4
  • StepStone Libra (GP), LLC Cayman Islands4
  • StepStone Maple (GP), LLC Delaware4
  • StepStone Mexico I (GP), LLC Delaware4
  • StepStone Mexico I SLP, L.P. Delaware4
  • StepStone Mexico, S.C. Mexico4
  • StepStone Micro Growth Equity V GP LLC Delaware4
  • StepStone Minderoo (GP), LLC Delaware4
  • StepStone NCA (GP), LLC Cayman Islands4
  • StepStone NG (GP), LLC Delaware4
  • StepStone NJ (GP), LLC Delaware4
  • StepStone NJ Real Estate (GP), LLC Delaware4
  • StepStone NL (GP), LLC Delaware4
  • StepStone NLGI (GP), LLC Delaware4
  • StepStone NPS PE (GP), LLC Delaware4
  • StepStone NPS PE II (GP), LLC Cayman Islands4
  • StepStone NPS Real Estate (GP), LLC Cayman Islands4
  • StepStone NPS Real Estate II (GP), LLC Cayman Islands4
  • StepStone NPS SIERA (GP), LLC Delaware4
  • StepStone NPS SIRA II (GP), LLC Cayman Islands4
  • StepStone NZ (GP), LLC Cayman Islands4
  • StepStone OH Secondaries (GP), LLC Delaware4
  • StepStone Ontario Natural Resources Opportunities (GP), LLC Cayman Islands4
  • StepStone Opportunities Fund G.P. Ltd Cayman Islands4
  • StepStone Oxford I (GP), LLC Delaware4
  • StepStone P (GP), LLC Cayman Islands4
  • StepStone P Real Assets (GP), LLC Cayman Islands4
  • StepStone P Real Assets II (GP), LLC Cayman Islands4
  • StepStone P Real Assets III (GP) LLC Cayman Islands4
  • StepStone PC GP, LLC Delaware4
  • StepStone PF Opportunities (L) (GP), LLC Delaware4
  • StepStone PH (GP), LLC Delaware4
  • StepStone PH Infra (GP), LLC Delaware4
  • StepStone PH Infra Equity (GP), LLC Cayman Islands4
  • StepStone PI (GP), LLC Delaware4
  • StepStone PIFSS Real Estate (GP), LLC Cayman Islands4
  • StepStone PIFSS Real Estate II (GP), LLC Cayman Islands4
  • StepStone PPA (GP), LLC Delaware4
  • StepStone PPL Secondaries (GP), LLC Delaware4
  • StepStone PRIVATE ACCESS (GP), LLC Delaware4
  • StepStone PTS Infrastructure Secondary Opportunities (GP), LLC Cayman Islands4
  • StepStone PV Investment Program (GP), LLC Cayman Islands4
  • StepStone Partners, L.P. Delaware4
  • StepStone Pegasus (GP), LLC Cayman Islands4
  • StepStone Polaris (GP), LLC Delaware4
  • StepStone Puma (GP), L.P. Delaware4
  • StepStone Puma (GP), LLC Delaware4
  • StepStone R (GP), LLC Delaware4
  • StepStone RE European Investments (V) S.à r.l. Luxembourg4
  • StepStone REP III (GP) (Cayman), LLC Cayman Islands4
  • StepStone REP III (GP), LLC Delaware4
  • StepStone REP IV (GP Cayman), LLC Cayman Islands4
  • StepStone REP IV (GP), LLC Delaware4
  • StepStone REP V (GP Cayman), LLC Cayman Islands4
  • StepStone REP V (GP), LLC Delaware4
  • StepStone RIVAS (GP), LLC Delaware4
  • StepStone Real Estate II AIV (GP) S.à r.l. Luxembourg4
  • StepStone Real Estate Partners IV (GP) S.À.R.L. Luxembourg4
  • StepStone Real Estate Partners V (GP) S.À.R.L. Luxembourg4
  • StepStone Real Estate Partners V Sidecar 892 Parallel (GP), LLC Delaware4
  • StepStone Rosa GP LLC Delaware4
  • StepStone SEDCO (GP), LLC Delaware4
  • StepStone SL (GP), LLC Cayman Islands4
  • StepStone SRA Co-Investment Partnership (GP), LLC Delaware4
  • StepStone Sanabil (GP), LLC Delaware4
  • StepStone Scorpio (GP), LLC Cayman Islands4
  • StepStone Secondaries II (GP), LLC Delaware4
  • StepStone Secondaries III (GP) S.À R.L. Luxembourg4
  • StepStone Secondaries III (GP), LLC Delaware4
  • StepStone Secondaries IV (GP) S.À R.L. Luxembourg4
  • StepStone Secondaries IV (GP), LLC Delaware4
  • StepStone Secondaries V (GP) S.À R.L. Luxembourg4
  • StepStone Secondaries V (GP), LLC Delaware4
  • StepStone Secondaries V Overage (GP) S.À R.L. Luxembourg4
  • StepStone Secondaries V Overage (GP), LLC Cayman Islands4
  • StepStone Secondaries VI (GP) S.à r.l. Luxembourg4
  • StepStone Secondaries VI (GP), LLC Delaware4
  • StepStone Sprout (GP), LLC Cayman Islands4
  • StepStone Sunstone (GP), LLC Delaware4
  • StepStone T Real Estate (GP), LLC Cayman Islands4
  • StepStone TC (GP), LLC Cayman Islands4
  • StepStone TC Infra (GP), LLC Cayman Islands4
  • StepStone TI1 (GP), Ltd Cayman Islands4
  • StepStone TI1 Sub (GP), LLC Cayman Islands4
  • StepStone TM IO, LLC Cayman Islands4
  • StepStone TRI GP LLC Delaware4
  • StepStone TS (GP), LLC Delaware4
  • StepStone Tactical Growth (GP), LLC Delaware4
  • StepStone Tactical Growth Fund IV (GP), LLC Cayman Islands4
  • StepStone Tactical Growth II (GP), LLC Delaware4
  • StepStone Tactical Growth III (GP), LLC Delaware4
  • StepStone Tactical Growth IV (GP) S.à r.l. Luxembourg4
  • StepStone Thunderbird (GP), LLC Delaware4
  • StepStone UWF Secondaries (GP), L.P. Delaware4
  • StepStone UWF Secondaries Holdings (GP), LLC Delaware4
  • StepStone V (GP), LLC Cayman Islands4
  • StepStone V (GP), s.a.r.l. Luxembourg4
  • StepStone VC 2022-CCT GP LLC Delaware4
  • StepStone VC 2023 – Beta HF Holding GP LLC Delaware4
  • StepStone VC 2025-RDS GP LLC Delaware4
  • StepStone VC Ascend GP LLC Delaware4
  • StepStone VC Asia GP I, LLC Cayman Islands4
  • StepStone VC Asia I-GB GP, LLC Delaware4
  • StepStone VC Aspen GP LLC Delaware4
  • StepStone VC BC GP, LLC Delaware4
  • StepStone VC Blockchain GP I, LLC Delaware4
  • StepStone VC Blockchain GP II, LLC Delaware4
  • StepStone VC Bravo GP LLC Delaware4
  • StepStone VC Brazos GP LLC Delaware4
  • StepStone VC CAPI Fund GP LLC Delaware4
  • StepStone VC Crossover I GP, LLC Delaware4
  • StepStone VC D-1 (GP), LLC Delaware4
  • StepStone VC Diversity GP I, LLC Delaware4
  • StepStone VC Diversity GP II, LLC Delaware4
  • StepStone VC Early Stage GP I, LLC Delaware4
  • StepStone VC Early Stage GP II, LLC Delaware4
  • StepStone VC Early Stage GP III, LLC Delaware4
  • StepStone VC Early Stage I-H GP LLC Delaware4
  • StepStone VC Early Stage I-LH GP LLC Delaware4
  • StepStone VC F-II GP, LLC Delaware4
  • StepStone VC FF-GP II, Ltd. Cayman Islands4
  • StepStone VC FF-GP III, LLC Delaware4
  • StepStone VC FF-GP IV, LLC Delaware4
  • StepStone VC FF-GP, LLC Delaware4
  • StepStone VC GE V GP, LLC Delaware4
  • StepStone VC GP (Healthcare), LLC Delaware4
  • StepStone VC GP IV, LLC Delaware4
  • StepStone VC GP IX, LLC Delaware4
  • StepStone VC GP V, LLC Delaware4
  • StepStone VC GP VI, LLC Delaware4
  • StepStone VC GP VII, Ltd. Cayman Islands4
  • StepStone VC GP VIII SARL Luxembourg4
  • StepStone VC GP VIII, Ltd. Cayman Islands4
  • StepStone VC GP X, LLC Delaware4
  • StepStone VC GP X-I, LLC Delaware4
  • StepStone VC General Partner GW, LLC Delaware4
  • StepStone VC Global Partners GP VII, L.P. Cayman Islands4
  • StepStone VC Global Partners GP VIII, L.P. Cayman Islands4
  • StepStone VC Global Partners IX-M GP, LLC Delaware4
  • StepStone VC Global Partners IX-V GP, LLC Delaware4
  • StepStone VC Global Partners XII (Lux) General Partner S.à r.l. Luxembourg4
  • StepStone VC Growth GP IV, LLC Delaware4
  • StepStone VC IL GP II LLC Delaware4
  • StepStone VC IX-R GP, LLC Delaware4
  • StepStone VC Impact GP I, LLC Delaware4
  • StepStone VC Impact GP II, LLC Delaware4
  • StepStone VC MI-G GP, LLC Delaware4
  • StepStone VC Master SPV GP LLC Delaware4
  • StepStone VC Mesa GP LLC Delaware4
  • StepStone VC Micro GP I, LLC Delaware4
  • StepStone VC Micro GP II, LLC Delaware4
  • StepStone VC Micro GP III LLC Delaware4
  • StepStone VC Micro GP IV LLC Delaware4
  • StepStone VC Micro GP V LLC Delaware4
  • StepStone VC Micro V SLP LLC Delaware4
  • StepStone VC Micro-K GP LLC Delaware4
  • StepStone VC NZ GP LLC Delaware4
  • StepStone VC Opportunities GP II, LLC Delaware4
  • StepStone VC Opportunities GP III, LLC Delaware4
  • StepStone VC Opportunities GP IV, LLC Delaware4
  • StepStone VC Opportunities GP V, LLC Delaware4
  • StepStone VC Opportunities GP VI, LLC Delaware4
  • StepStone VC Opportunities GP VII, LLC Delaware4
  • StepStone VC SK GP, LLC Delaware4
  • StepStone VC SPV (AV IV) GP, LLC Delaware4
  • StepStone VC SPV IV, LLC Delaware4
  • StepStone VC SPV IX GP, LLC Delaware4
  • StepStone VC SPV, LLC Delaware4
  • StepStone VC Secondaries GP I, LLC Delaware4
  • StepStone VC Secondaries GP II, LLC Delaware4
  • StepStone VC Secondaries GP III, LLC Delaware4
  • StepStone VC Secondaries GP IV, LLC Delaware4
  • StepStone VC Secondaries GP V, LLC Delaware4
  • StepStone VC Secondaries GP VI LLC Delaware4
  • StepStone VC Secondaries GP VII LLC Delaware4
  • StepStone VC Secondaries VI (Lux) General Partner Luxembourg4
  • StepStone VC Secondaries VI (Lux) General Partner S.à r.l. Luxembourg4
  • StepStone VC Tilad GP LLC Delaware4
  • StepStone VC Wabash GP LLC Delaware4
  • StepStone VC X-V GP, LLC Delaware4
  • StepStone VC XI GP, LLC Delaware4
  • StepStone VC XII GP LLC Delaware4
  • StepStone VC Zilker GP LLC Delaware4
  • StepStone Verwaltungs Gmbh Germany4
  • StepStone XL (GP), LLC Delaware4
  • StepStone Y (GP) LLC Cayman Islands4
  • StepStone iCapital GP VC, LLC Delaware4
  • Stepstone Capital VI (GP), LLC Delaware4
  • Stepstone Peregrine (GP), LLC Delaware4
  • Stepstone Sun (MM), LLC Delaware4
  • Swiss Capital Alternative Investments G.P. LTD. Switzerland4
  • Swiss Capital BG OL Private Debt Offshore SP Cayman Islands4
  • Swiss Capital BTC OL Private Debt Offshore SP Cayman Islands4
  • Swiss Capital Private Debt G.P. II LTD. Cayman Islands4
  • Swiss Capital Private Debt GP (Luxembourg) S.à r.l. Luxembourg4
  • Swiss Capital Private Debt GP II (Luxembourg) S.à r.l. Luxembourg4
  • Swiss Capital Private Debt GP Limited Cayman Islands4
  • Swiss Capital Private Debt Manager GP Limited Cayman Islands4
  • Swiss Capital SCL Fund G.P. Ltd. Cayman Islands4
  • VG Co-Investment EU PD Luxembourg4
  • VVF II Continuation Fund GP LLC Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Sep 8, 20268-K Shareholder vote27
  2. Aug 6, 20268-K Results of operations28
  3. Jun 1, 20268-K Unregistered sale of shares; Other events29
  4. May 20, 20268-K Results of operations30
  5. Feb 5, 20268-K Results of operations31
  6. Nov 6, 20258-K Results of operations32
  7. Sep 19, 20258-K Change to shareholders' rights; Bylaws or fiscal year changed33
  8. Sep 11, 20258-K Change to shareholders' rights; Bylaws or fiscal year changed; Shareholder vote34
  9. Aug 7, 20258-K Results of operations35
  10. May 30, 20258-K Unregistered sale of shares; Other events36
  11. May 22, 20258-K Results of operations37
  12. Feb 6, 20258-K Results of operations38

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.54 a share, on Nov 6, 2025.39

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results28
  2. May 20, 2026Reported quarterly or annual results30
  3. Feb 5, 2026Reported quarterly or annual results31
  4. Nov 6, 2025Reported quarterly or annual results32
  5. Aug 7, 2025Reported quarterly or annual results35
  6. May 22, 2025Reported quarterly or annual results37
  7. Feb 6, 2025Reported quarterly or annual results38
  8. Nov 7, 2024Reported quarterly or annual results40

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

375 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 39 major events, 150 insider forms, 90 large holders, 76 other. The latest 20:

  1. Oct 1, 20264 EDGAR
  2. Sep 10, 20264 EDGAR
  3. Sep 10, 20264 EDGAR
  4. Sep 10, 20264 EDGAR
  5. Sep 10, 20264 EDGAR
  6. Sep 8, 20268-K EDGAR
  7. Aug 7, 202610-Q EDGAR
  8. Aug 6, 20268-K EDGAR
  9. Jul 31, 2026SCHEDULE 13G/A EDGAR
  10. Jul 21, 2026ARS EDGAR
  11. Jul 21, 2026DEFA14A EDGAR
  12. Jul 21, 2026DEF 14A EDGAR
  13. Jun 11, 20264 EDGAR
  14. Jun 3, 20264 EDGAR
  15. Jun 1, 2026144 EDGAR
  16. Jun 1, 20268-K EDGAR
  17. May 27, 202610-K EDGAR
  18. May 20, 20268-K EDGAR
  19. May 6, 2026SCHEDULE 13G/A EDGAR
  20. Apr 30, 2026SCHEDULE 13G EDGAR

The 375 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

129 open-market trades by officers, directors and large owners since October 2021: 8 buys and 121 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 11, 2026McCabe Michael IHead of StrategyBuy120,000$41.85$5.0MForm 4
Jun 3, 2026Fernandez Jose ACo-Chief Operating OfficerSale2,290$42.64$97.6KForm 4
Jun 2, 2026Fernandez Jose ACo-Chief Operating OfficerSale100,000$46.55$4.7MForm 4
Jun 1, 2026Fernandez Jose ACo-Chief Operating OfficerSale100,000$48.60$4.9MForm 4
Feb 23, 2026Mitchell Steven RDirectorBuy12,793$44.23$565.8KForm 4
Jan 26, 2026Hart Scott WChief Executive OfficerSale10,000$72.52$725.2KForm 4
Dec 26, 2025Hart Scott WChief Executive OfficerSale10,000$66.17$661.7KForm 4
Dec 10, 2025McCabe Michael IHead of StrategySale192,052$66.18$12.7MForm 4
Nov 25, 2025Hart Scott WChief Executive OfficerSale10,000$61.70$617.0KForm 4
Nov 13, 2025Fernandez Jose ACo-Chief Operating OfficerSale70,402$62.30$4.4MForm 4
Nov 12, 2025Fernandez Jose ACo-Chief Operating OfficerSale70,404$62.65$4.4MForm 4
Nov 11, 2025Fernandez Jose ACo-Chief Operating OfficerSale70,404$61.41$4.3MForm 4
Oct 27, 2025Hart Scott WChief Executive OfficerSale10,000$64.34$643.4KForm 4
Sep 25, 2025Hart Scott WChief Executive OfficerSale10,000$64.70$647.0KForm 4
Sep 11, 2025Park David YChief Financial OfficerSale1,000$63.26$63.3KForm 4
Aug 25, 2025Hart Scott WChief Executive OfficerSale10,000$61.44$614.4KForm 4
Jul 25, 2025Hart Scott WChief Executive OfficerSale10,000$61.28$612.8KForm 4
Jul 10, 2025Hart Scott WChief Executive OfficerSale10,000$60.29$602.9KForm 4
Jun 12, 2025McCabe Michael IHead of StrategySale67,718$56.54$3.8MForm 4
May 28, 2025McCabe Michael IHead of StrategySale251,118$59.92$15.0MForm 4

All 129 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2026Scott W. Hart45$500.0K$6.1M63
2026Michael I. McCabe57$500.0K$5.6M63
2026Jason P. Ment48$500.0K$4.4M63
2026Jose A. Fernandez54$500.0K$4.1M63
2026David Y. Park53$500.0K$2.5M63
2025Head of Strategy and Director$500.0K$5.4M63
2025Chief Executive Officer and Director$500.0K$4.7M63
2025Co-ChiefOperating Officer and$500.0K$3.9M63
2025President andCo-Chief Operating$500.0K$3.7M63
2025Chief Financial Officer$500.0K$1.3M63
2024Chief Executive Officer and Director$450.0K$2.7M63
2024Officer$450.0K$2.4M63
2024Head of Strategy and Director$450.0K$2.4M63
2024Director$450.0K$2.1M63
2024Chief Financial Officer$450.0K$1.3M63

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.11,972,263$495.2M0.0%+145,075
Millennium Management LLC5,619,498$232.4M0.2%−1,553,926
Wellington Management Group Llp5,189,963$214.7M0.0%−50,110
Vanguard Portfolio Management LLC4,674,073$193.3M0.0%+189,138
Vanguard Capital Management LLC3,550,308$146.8M0.0%+24,352
State Street Corp3,117,991$129.0M0.0%+248,229
Capital World Investors2,524,018$104.4M0.0%−747,507
Geode Capital Management, LLC2,016,372$83.4M0.0%+65,013
William Blair Investment Management, LLC1,930,015$79.8M0.2%+15,538
Westfield Capital Management Co LP1,729,424$71.5M0.2%+551,453
Jpmorgan Chase & Co1,520,835$61.4M0.0%+40,951
Goldman Sachs Group Inc1,428,505$59.1M0.0%+844,894
Adage Capital Partners Gp, L.l.c.1,391,217$57.5M0.1%+67,974
Samlyn Capital, LLC1,269,100$52.5M0.9%+373,655
Capital Research Global Investors1,231,923$51.0M0.0%+437,040
Balyasny Asset Management L.P.1,113,093$46.0M0.1%−312,806
Morgan Stanley1,084,346$44.8M0.0%+337,299
Junto Capital Management LP1,078,672$44.6M0.8%+222,950
Point72 Asset Management, L.P.1,004,669$41.6M0.1%+817,601
Wasatch Advisors LP905,245$37.4M0.2%−16,475
Bamco Inc /ny/828,911$34.3M0.1%−1,663
Northern Trust Corp802,242$33.2M0.0%+75,206
Raymond James Financial Inc735,937$30.4M0.0%+1,933
Charles Schwab Investment Management Inc689,492$28.5M0.0%+38,864
Advent International, L.P.683,432$28.3M0.2%+563,297

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How StepStone Group Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARStepStone Group Inc.1
  • CIK0001796022
  • Employer ID (EIN)84-38687575
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsMarch 311
  • Industry code (SIC)6282 Investment Advice1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address277 Park Avenue, 45Th Floor, New York, NY 101721
  • Phone1-212-351-61001
  • Shares outstanding80,706,668 Common Class A shares; 38,637,761 Common Class B shares as of May 20, 20265
  • Public float$5.1B as of Sep 30, 20255
  • AuditorErnst & Young LLP, New York, NY PCAOB ID 42; it also attests to the company’s internal control over financial reporting5
  • On EDGAR sinceDec 18, 20191
  • Filings496 in all: 4 (179), 144 (50), 8-K (47), SC 13G/A (37), SC 13D/A (30), 3 (19), 10-Q (18), SC 13G (16)1
    All 36 form types

    SCHEDULE 13G/A (12), DEF 14A (7), DEFA14A (7), SC 13D (7), 10-K (6), SCHEDULE 13D/A (6), CORRESP (5), DRSLTR (5), SCHEDULE 13G (5), ARS (4), UPLOAD (4), DRS/A (3), PRE 14A (3), 424B4 (2), 424B5 (2), 424B7 (2), 8-K/A (2), DRS (2), EFFECT (2), S-1 (2), S-1/A (2), S-3ASR (2), S-8 (2), SCHEDULE 13D (2), 4/A (1), 5 (1), 8-A12B (1), CERT (1)

  • Latest filingsAnnual report (10-K) May 27, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Jul 21, 2026
    Latest 8-K (8-K) Sep 8, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, $0.001 par value per shareSTEPThe Nasdaq Stock Market LLC

From the cover page of the 10-K filed May 27, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks StepStone Group Inc. names in Item 1A of its 10-K filed May 27, 2026: 66 risks under these headings, as written.5

  • Risks Related to Our Business
  • The success of our business depends on the identification and availability of suitable investment opportunities for our clients.
  • If the investments we make on behalf of the StepStone Funds or recommend to clients perform poorly, we may suffer a decline in our revenues and earnings, and our ability to raise capital for future StepStone Funds may be materially and adversely affected.
  • Continued positive performance of investments we make on behalf of clients or we recommend to our clients is not assured and may not result in positive performance of an investment in our Class A common stock.
  • Competition for access to investment funds and other investments we make for our clients is intense.
  • Third-party clients in many StepStone Funds have the right to remove us as the general partner of the relevant fund and to terminate the investment period under certain circumstances, leading to a decrease in our revenues, which could be substantial. In addition, the investment management agreements related to our SMAs and advisory accounts may permit the client to terminate our management of such accounts on short notice.
  • Our ability to retain our senior leadership team and attract additional qualified professionals is critical to our success.
  • Our failure to appropriately manage conflicts of interest could damage our reputation and adversely affect our business.
  • We have obligations to clients and other third parties that may conflict with stockholders’ interests.
  • Recent and continuing higher interest rates or prospective decreases in the availability of credit may adversely affect the ability of the StepStone Funds to achieve attractive rates of return, particularly because certain funds and portfolio companies depend on leverage for a return on investment.
  • Clients in the StepStone Funds with commitment-based structures may not satisfy their contractual obligation to fund capital calls when requested, which could adversely affect a fund’s operations and performance.
  • Our failure to comply with investment guidelines set by our clients could result in damage awards against us or a reduction in AUM, either of which would cause our earnings to decline and adversely affect our business.
The other 55 risks
  • Valuation methodologies for certain assets in the StepStone Funds are subjective, and the values of assets established pursuant to such methodologies may never be realized, which could result in significant losses for the StepStone Funds.
  • We may not be able to maintain our desired fee structure as a result of industry pressure from private markets clients to reduce fees, which could have a material adverse effect on our profit margins and results of operations.
  • We may need to pay “clawback” or “contingent repayment” obligations if and when they are triggered under the governing agreements of our funds.
  • Our investment management activities may involve investments in high-risk, illiquid assets, and we may lose, or our clients may lose, some or all of the amounts invested in these activities or fail to realize any profits from these activities for a considerable period of time.
  • The StepStone Funds may face risks relating to undiversified investments.
  • Banking system volatility may adversely affect the results and financial condition of the StepStone Funds or StepStone generally.
  • The StepStone Funds make investments in funds and companies that we do not control.
  • Our risk management strategies and procedures may leave us exposed to unidentified or unanticipated risks.
  • The due diligence process that we undertake in connection with investments may not reveal all facts that may be relevant in connection with an investment.
  • Restrictions on our ability to collect and analyze data regarding our clients’ investments could adversely affect our business.
  • We and our clients depend on the reliability of our proprietary data and technology platforms and other data processing systems. Failures or interruptions of these services may disrupt our business, damage our reputation, limit our growth and adversely affect our business and results of operations.
  • A compromise or corruption of our systems or that of our vendors containing confidential information could damage our business relationships and adversely affect our business, financial condition and results of operations.
  • Cybersecurity risks and cybersecurity incidents could adversely affect our business by causing a disruption to our operations, which could adversely affect our financial condition and results of operations.
  • Risk related to emerging and changing technology and corresponding regulations, including AI, could impact our results of operations or financial condition.
  • Employee misconduct could harm us by impairing our ability to attract and retain clients and subjecting us to significant legal liability and reputational harm.
  • We may face damage to our professional reputation if our services are not regarded as satisfactory or for other reasons and may face legal liability to our clients and third parties under securities or other laws and regulations.
  • Our non-U.S. operations are subject to certain risks, which may adversely affect our business, financial condition and results of operations.
  • Investments of the StepStone Funds in certain jurisdictions may be subject to heightened risks, which may adversely affect our business, financial condition and results of operations.
  • Revenues from our real estate asset class are subject to the risks inherent in the ownership and operation of real estate and the construction and development of real estate.
  • Our real estate asset class is exposed to commercial real estate values and commercial real estate loans, both of which are expected to be adversely affected by decreased occupancy rates, higher prevailing interest rates and decreased credit availability.
  • The investments we make on behalf of clients or we recommend to our clients in infrastructure assets may expose us to increased risks and liabilities.
  • The substantial growth of our business in recent years may be difficult to sustain, as it may place significant demands on our resources and employees and may increase our expenses.
  • We may enter into new lines of business, which may result in additional risks and uncertainties in our business.
  • We have entered into long-term agreements that provide for us to acquire all the equity interests of our asset class entities that we do not currently own.
  • Under our option agreement with respect to SPW, we may purchase certain profits interests of SPW and the purchase price for such purchases may be substantial.
  • We may acquire additional businesses or assets or form joint ventures.
  • Current or future indebtedness may expose us to substantial risks.
  • We are subject to risks in using custodians, counterparties, administrators and other agents.
  • Risks Related to Our Industry
  • The investment management and investment advisory business is intensely competitive.
  • Difficult or volatile market and political conditions can adversely affect our business by reducing the market value of the assets we manage, causing our clients to reduce their investments in private markets, reducing the number of high-quality investment managers with whom we may invest, and reducing the ability of our funds to raise or deploy capital.
  • A major public health crisis could severely disrupt the global financial markets and business climate and adversely affect our business, financial condition and results of operations.
  • We operate in an industry subject to numerous regulations and any failure to comply with government regulations to which we are subject could adversely affect us.
  • Evolving laws and government regulations could adversely affect us.
  • Future changes to tax laws or our effective tax rate could materially adversely affect our company and reduce net returns to our stockholders.
  • We may be required to pay additional taxes under the Centralized Partnership Audit Regime.
  • Federal, state and foreign anti-corruption and sanctions laws create the potential for significant liabilities and penalties and reputational harm.
  • Regulation of investment advisers outside the United States could adversely affect our ability to operate our business.
  • We are subject to divergent views of investors and differing approaches by governmental authorities in respect of the incorporation of sustainability-related factors in our investment and portfolio management process as well as human capital management, which may affect certain investors’ decision to commit or recommit capital to, or constrain investment opportunities for, our funds or subject us to increased regulatory scrutiny and compliance costs.
  • Risks Related to Our Organizational Structure
  • SSG depends on distributions from the Partnership to pay any dividends, if declared, taxes and other expenses, including payments under the Tax Receivable Agreements.
  • The IRS might challenge the tax basis step-ups and other tax benefits we receive in connection with our IPO and the related transactions and in connection with additional acquisitions of Partnership units.
  • In certain circumstances, payments under each Tax Receivable Agreement may be accelerated and/or significantly exceed the actual tax benefits, if any, that SSG actually realizes.
  • In certain circumstances, the Partnership will be required to make distributions to us and the existing partners of the Partnership, and the distributions that the Partnership will be required to make may be substantial.
  • We may be required to fund withholding tax upon certain exchanges of Class B or Class D units into shares of Class A common stock by non-U.S. holders.
  • We may have tax and other liabilities attributable to our pre-IPO investors as a result of certain reorganization transactions.
  • Pursuant to the regulations issued under Section 162(m) of the Code, SSG may not be permitted to deduct its distributive share of compensation expense to the extent that the compensation was paid by the Partnership to certain of SSG’s covered employees, potentially resulting in additional U.S. federal income tax liability for SSG and reducing cash available for distribution to SSG’s stockholders and/or for the payment of other expenses and obligations of SSG.
  • If StepStone Group Inc. were deemed an “investment company” under the Investment Company Act of 1940 as a result of its ownership of the Partnership or the General Partner, applicable restrictions could make it impractical for us to continue our business as contemplated and could have a material adverse effect on our business.
  • A change of control of our company could result in an assignment of our investment advisory agreements.
  • Because members of our senior leadership team hold their economic interest through other entities, conflicts of interest may arise between them and the holders of our Class A common stock or with us.
  • We rely on our equity ownership, governance rights and other contractual arrangements to control certain of our consolidated subsidiaries that are not wholly-owned, which may provide us less effective operational control than wholly owning such subsidiaries.
  • Distributions made by the Partnership to us may be substantial, and our ability to use the cash we receive in such distributions may be limited.
  • The dual class structure of our common stock may adversely affect the trading market for our Class A common stock.
  • We currently pay dividends to our stockholders, but our ability to do so is subject to the discretion of our board of directors and may be limited by our holding company structure and applicable provisions of Delaware law. In addition, any repurchases of our Class A common stock are discretionary and may be limited by applicable legal requirements and other considerations.
  • General Risk Factors
  • The market price of our Class A common stock has been, and may continue to be volatile, which could cause the value of stockholders’ investments to decline.
  • Anti-takeover provisions in our charter documents and under Delaware law could make an acquisition of us more difficult, limit attempts by our stockholders to replace or remove our current management and may adversely affect the market price of our Class A common stock.
  • Our restated certificate of incorporation designates the Court of Chancery of the State of Delaware as the sole and exclusive forum for certain types of actions and proceedings that may be initiated by our stockholders, and the federal district courts as the exclusive forum for Securities Act claims, which could limit our stockholders’ ability to obtain what such stockholders believe to be a favorable judicial forum for disputes with us or our directors, officers or other employees.

Legal proceedings

In the normal course of business, we may be subject to various legal, judicial and administrative proceedings. See note 15 to our consolidated financial statements included in Part II, Item 8 of this annual report on Form 10-K.

The opening of Item 3, Legal Proceedings.5

Sources

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