StepStone Group Inc.

Overview

StepStone Group Inc. is a global private-markets investment firm that provides investment advisory, portfolio construction, data and related services. It helps clients build and manage exposure to private equity, infrastructure, private debt and real estate through primary fund investments, secondaries and co-investments.[1][2]

Its clients include institutional investors such as pension funds, sovereign wealth funds and insurers, as well as endowments, foundations, family offices and private-wealth clients. At March 31, 2026, StepStone reported approximately $885 billion in total capital, comprising $233 billion in assets under management and $652 billion in assets under advisement. It operated in 31 cities across 19 countries on five continents and had more than 1,310 employees, including approximately 420 investment professionals.[1][3]

For the fiscal year ended March 31, 2026, the company reported revenue of approximately $1.994 billion. StepStone describes its mission as being “the trusted partner of choice for private markets solutions globally.” It traces its operations to its 2007 inception and completed its IPO in 2020.[4]+3 [1]+5

Products & services

StepStone offers private-market investment mandates through separately managed accounts (SMAs), which combine primary fund commitments, secondaries and co-investments in client-specific portfolios, and focused commingled funds targeting a defined asset class and strategy. At March 31, 2026, SMAs represented $136 billion of AUM and focused commingled funds $81 billion.[7][8] Its advisory services include portfolio construction, due diligence and investment recommendations, pacing and asset-allocation advice, and ongoing monitoring and reporting; advisory relationships included $652 billion of AUA and $16 billion of AUM.[9][10]

Its SPI by StepStone technology suite includes SPI Research, a private-markets intelligence database; SPI Reporting, which tracks investment-level information such as cash flows, valuations and underlying-asset details and supports dashboards, benchmarking, exposure analysis, customized reports and return calculations; and SPI Pacing, for forecasting portfolio cash flows, allocations and liquidity.[11]+3 Other proprietary capabilities include a daily valuation engine for periodic-subscription and liquidity solutions, sustainability-reporting dashboards, and a secondary-pricing engine for assessing larger or complex transactions.[15]

Named private-wealth strategies include SPRIM (multi-asset private markets), SPRING (venture and growth), STRUCTURE (infrastructure), CRDEX (private credit) and STPEX (private equity); STPEX is an evergreen interval fund investing primarily through secondary purchases and co-investments.[16][17] For FY2026, management and advisory fee mix was 59% focused commingled funds, 32% SMAs, 8% advisory and data services, and 1% fund reimbursements; these figures are by commercial structure, not by asset class or named strategy.[18] [7]+11

Geographic presence

StepStone Group operates in 31 cities across 19 countries and five continents. Its headquarters are in New York; listed office locations include 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.[19]+2

The company serves U.S. and non-U.S. investors, with investor demand also described across Europe, the Middle East, Latin America, Australia, Japan, South Korea, Southeast Asia and China. Its business-development, marketing and client-relations teams include more than 230 professionals in offices across 16 countries. About 45% of its investment professionals were based outside the United States as of 31 March 2026.[21]+2 StepStone does not disclose revenue by country or region; it reports one operating and reportable segment.[24][25] [19]+8

Business segments

StepStone Group reports one operating and reportable segment: its integrated private-markets investment solutions business. It does not report separate financial segments or revenue contributions for its underlying asset classes.[27]+2

Its asset-class AUM mix, which is not a formal segment or revenue breakdown, was approximately 51% Private Equity ($120 billion), 9% Real Estate ($20 billion), 21% Infrastructure ($48 billion), and 20% Private Debt ($46 billion) as of March 31, 2026. These approximate shares are calculated from rounded figures totaling about $234 billion.[28] [27]+3

Company history

StepStone Group was founded in 2007 by Monte Brem, Thomas Keck, and Jose Fernandez, former Pacific Corporate Group executives. It initially operated as Leucadia Capital Partners before adopting the StepStone Group name in June 2007.[29] In 2010, StepStone took over management and advisory responsibilities for certain Citi private-equity investment businesses, adding approximately $4 billion in funds.[30]

StepStone expanded its capabilities through its 2016 acquisition of Swiss Capital, which added private-debt and hedge-fund expertise.[31] In 2019, it launched a Private Wealth Solutions Group and the Conversus platform for individual investors.[32] The company went public on Nasdaq under the ticker STEP in September 2020.[33] In 2021, it completed its acquisition of Greenspring Associates, expanding its venture-capital and growth-equity capabilities.[34] Scott Hart became sole CEO in 2022, while co-founder Monte Brem became Executive Chairman and Board Chair.[35] [29]+6

Sources

• StepStone Group Inc. — Full financial report (2026 Y)
  23 citations

  [1][2][3][4][6][7][8][9][10][11][12][13][14][15][18][19][20][21][22][23][24][25][28]
• www.stepstonegroup.com[5]
• www.stepstonegroup.com[16]
• www.stepstonegroup.com[17]
• www.sec.gov[26]
• StepStone Group Inc. — Full financial report (2027 Q 1)[27]
• www.pionline.com[29]
• www.businesswire.com[30]
• www.businesswire.com[31]
• www.stepstonegroup.com[32]
• www.stepstonegroup.com[33]
• www.stepstonegroup.com[34]
• www.stepstonegroup.com[35]