Stepstone Group Inc

StepStone Group Inc. has closed its StepStone Secondaries Infrastructure Fund and related separate accounts, raising $1.7 billion in total capital commitments. The fund, which is StepStone's first closed-ended commingled fund dedicated to infrastructure secondaries, closed with $1.5 billion in capital commitments, surpassing its target and reaching the hard cap. The fund focuses on acquiring limited partner interests in infrastructure funds and investing in GP-led secondary funds managed by experienced third-party infrastructure GPs. As of August 2026, the fund is about 50% deployed across 26 closed deals, many in the middle market. StepStone Infrastructure & Real Assets, which invests across primary funds, secondaries, and co-investments, has deployed an average of $13 billion annually over the past three years. Latham & Watkins LLP advised on the fund's formation.

StepStone Group Inc. reported results for the first quarter of fiscal year 2027 ended June 30, 2026, and its Board of Directors declared a quarterly cash dividend of $0.33 per share of Class A common stock, payable on September 15, 2026 to holders of record as of August 31, 2026. GAAP total revenues were $378.9 million, up 4% from the prior-year quarter, while the company posted a net loss of $170.4 million. Non-GAAP adjusted net income rose 24% to $60.3 million, or $0.48 per share, and fee-related earnings increased 30% to $105.6 million. Assets under management reached $245.4 billion, a 23% increase, and fee-earning AUM grew 21% to $153.6 billion.

StepStone Group and PitchBook have launched SPI Deal Benchmarking, a deal-level benchmarking solution now generally available on the PitchBook platform. The offering integrates StepStone's institutional-grade fund and deal performance data directly into PitchBook's private markets intelligence workflows for the first time. It provides aggregated and anonymized performance and operating metrics, enabling apples-to-apples comparisons across private equity buyout, venture capital and growth equity, and infrastructure deals. The solution is accessible to fund managers and service providers as a standalone offering and to investors through SPI by StepStone. StepStone was responsible for approximately $885 billion of total capital, including $233 billion of assets under management, as of March 31, 2026.