$STEP

StepStone Group Inc.

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StepStone (STEP) Q1 2027 Earnings Call Transcript

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 See Growth in Wealth Channel

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.

Goldman Sachs raises alternative asset manager stock outlook on fee growth

Goldman Sachs said alternative asset manager stocks are still attractive for H2 despite YTD declines. In a note, it cited stabilized earnings, a 3% average rise in 2026-2027 fee-related revisions, and next-12-month P/D E multiples net of SBC averaging 19x (16% below five-year). It expects management fees to average about 15% growth, with TPG, STEP, CG, HLNE and KKR among the biggest upside candidates.

STEP sentiment & insider activity

Over the past 7 days, alphai's AI scored 4 news stories mentioning STEP (StepStone Group Inc.). Coverage has skewed bullish: 4 bullish, 0 neutral, and 0 bearish.

Recent STEP coverage spans earnings, financial news and sector analysis.

What's driving STEP

  • Earnings show strong fee growth and AUM inflows, while management flags near-term fee pressure and a managed-account expiration headwind.

    fool.com · Aug 14, 2026

  • Record subscription volume suggests strong advisor/distribution momentum in private markets wealth products.

    wealthmanagement.com · Aug 13, 2026

  • STEP is singled out for fee-growth acceleration and potential 12-month upside in Goldman’s sector view.

    investing.com · Aug 11, 2026

  • The article frames a near-term catalyst around completing the Private Wealth profits-interest buy-in, with longer-run support from tech investment and new product/channel expansion.

    yahoo.com · Aug 11, 2026

  • Analyst target updates and maintained ratings provide incremental sentiment support but no new fundamental disclosure.

    theglobeandmail.com · Aug 8, 2026

alphai scores every news story that mentions STEP with an AI model for sentiment and relevance, and aggregates insider trades from StepStone Group Inc.'s SEC EDGAR Form 4 filings. Figures refresh continuously.

News on $STEP

Score
$STEPMedAI 8/10

StepStone (STEP) Q1 2027 Earnings Call Transcript

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 See Growth in Wealth Channel

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.

$TPGLow

Goldman Sachs raises alternative asset manager stock outlook on fee growth

Goldman Sachs said alternative asset manager stocks are still attractive for H2 despite YTD declines. In a note, it cited stabilized earnings, a 3% average rise in 2026-2027 fee-related revisions, and next-12-month P/D E multiples net of SBC averaging 19x (16% below five-year). It expects management fees to average about 15% growth, with TPG, STEP, CG, HLNE and KKR among the biggest upside candidates.

$STEPLow

STEP Q2 Deep Dive: Private Wealth Momentum and Strategic M&A Shape Outlook

StepStone Group said its Q2 outlook depends on expanding Private Wealth, completing planned buy-ins of a Private Wealth profits interest to capture full economics, and investing in technology and new channels such as defined contribution retirement plans. Management cited continued fundraising momentum and new product launches, while monitoring margin pressure risks. Shares trade at $49.13.

Analysts Offer Insights on Financial Companies: StepStone Group (STEP), American International Group (AIG) and Sezzle Inc. (SEZL)

Analysts issued updates on financial stocks. StepStone Group (STEP): Evercore ISI reiterated Buy with a $56 target; consensus Strong Buy averages $69.29, and Barclays set $62. American International Group (AIG): Evercore ISI kept Hold with $85; consensus Moderate Buy averages $88.15, Barclays $81. Sezzle (SEZL): Oppenheimer kept Hold; consensus Moderate Buy $168, TD Cowen $165.

StepStone Group Inc. (STEP): Results of Operations and Financial Condition

StepStone Group Inc. (STEP) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 stepfy2027q1earningspressr.htm EX-99.1 Document STEPSTONE GROUP REPORTS FIRST QUARTER FISCAL YEAR 2027 RESULTS NEW YORK, August 6, 2026 – StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm focused on providing customized investment solutions a

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