StepStone Group Inc - Class A

StepStone Group delivered a strong fiscal third-quarter 2026 result, with adjusted earnings per share of $0.65 beating the $0.62 consensus estimate by 4.70%, while revenue of $586.51 million topped expectations of $394.92 million by 48.51% and surged 73.0% year over year. The primary engine behind the beat was a dramatic acceleration in performance fees, which reached $346.58 million for the quarter compared to $148.18 million a year earlier, as gross realized performance fees alone jumped to $253.37 million from just $52.07 million in the prior-year period. Management and advisory fees also contributed meaningfully, growing 26% year over year to $239.93 million, underpinned by fee-earning AUM that expanded 21% to $138.6 billion. Total AUM reached approximately $219.8 billion, up 23% year over year, reflecting continued fundraising momentum including growing traction in private wealth channels, where the firm has been actively expanding its international distribution reach. On a GAAP basis, the company reported a net loss attributable to StepStone of $123.45 million, narrower than the $287.16 million loss posted a year ago. The board declared a quarterly dividend of $0.28 per Class A share.