$STEP

StepStone Group (STEP) reported Q2 revenues of $300.6M, up 26.6% YoY but missing estimates by 3.9%. Hamilton Lane (HLNE) outperformed with $275.3M revenues, up 56.5% YoY, beating estimates by 21%. Voya Financial (VOYA) reported flat revenues at $1.88B, missing EPS estimates. Federated Hermes (FHI) and WisdomTree (WT) also reported strong results, with revenues up 18.3% and 57.3% YoY, respectively. Custody bank stocks as a group saw 3.2% revenue growth and 5.6% share price increase since earnings

Victory Capital agreed to acquire First Eagle Investments for $7.0B, including $575M in notes. Steadfast signed a deal for A$7.7B with Amwins, Dragoneer, and KKR. StepStone raised $1.7B for infrastructure secondaries. Azalea and JANA also announced fund closings. Ethena and FalconX opened a $1B warehouse for USDe-backed loans. Spot bitcoin ETFs saw $242.3M inflows on August 27.

Q2 earnings for custody banks showed revenues 3.2% above estimates. BNY (NYSE:BNY) reported $5.7B revenue, up 13.3% YoY, beating expectations. Hamilton Lane (NASDAQ:HLNE) saw 56.5% revenue growth, outperforming estimates. StepStone Group (NASDAQ:STEP) missed expectations with a 3.9% shortfall. Federated Hermes (NYSE:FHI) and State Street (NYSE:STT) also reported strong results.

Franklin Resources (BEN) reported Q2 revenue of $2.36B, up 14.3% YoY, beating estimates. Hamilton Lane (HLNE) saw 56.5% revenue growth, outperforming expectations. StepStone Group (STEP) missed estimates with 26.6% revenue growth. Voya Financial (VOYA) reported flat revenue, missing EPS estimates. Federated Hermes (FHI) beat expectations with 18.3% revenue growth. Custody bank stocks averaged 5.9% share price increase post-earnings.

Oppenheimer maintained its Outperform rating for StepStone Group Inc (STEP) but lowered its price target from $90.00 to $88.00. The company's GF Value™ is $87.05, indicating it is 42.1% undervalued. StepStone operates in asset management with a market cap of $4.14 billion. Insider activity shows $5,022,000 in buys over the last three months. The GF Score™ is 51/100, reflecting moderate performance.

StepStone Group Inc. (STEP) closed a $1.7 billion fundraise for its StepStone Secondaries Infrastructure Fund. Latham & Watkins LLP advised on the fund formation, with contributions from multiple partners and associates across various legal and regulatory matters.

StepStone Group Inc. (STEP) closed its infrastructure secondaries fund, raising $1.7 billion. The fund, targeting infrastructure secondaries, surpassed its hard cap with $1.5 billion in commitments. StepStone, managing $245 billion in assets, focuses on private markets investments and advisory services.

Ridgepost Capital (NYSE:RPC) reported Q2 revenues of $81.28M, up 11.5% YoY, exceeding estimates by 3.6%. The stock is down 2.3% since reporting. Hamilton Lane (NASDAQ:HLNE) saw revenues of $275.3M, up 56.5% YoY, beating estimates by 21%, with the stock up 12.4%. StepStone Group (NASDAQ:STEP) reported $300.6M in revenues, up 26.6% YoY, missing estimates by 3.9%, with the stock down 1.1%. SEI Investments (NASDAQ:SEIC) reported $641.6M in revenues, up 14.7% YoY, beating estimates by 0.7%, with the

StepStone Group Inc. (STEP) reported Q1 fiscal 2027 results. GAAP net loss was $116 million ($1.41/share), while fee-related earnings were $106 million, up 30%. Core FRE was $105 million. Fee revenue rose 27% to $271 million, with $10 billion gross inflows and $2.8 billion Private Wealth subscriptions. The company declared a $0.33 dividend and discussed a Private Wealth profits interest buy-in.

Alternative asset managers reported Q2 results focused on wealth-channel fundraising and redemption trends. Blackstone said private wealth AUM rose 16% to $324B and Q2 sales were $8.6B, while BCRED saw $1.2B net outflows. Ares reported $3.9B inflows and $76B wealth AUM. KKR reported $3B inflows. Non-traded BDCs had $2B raised, down 82% YoY, with net outflows of $3.8B.