StepStone Group Inc - Class A

StepStone Group Inc. delivered a standout fourth fiscal quarter, posting adjusted earnings per share of $0.57 against a consensus estimate of $0.50, a beat of 13.46%, while revenue of $588.58 million more than doubled analyst expectations of $292.11 million and climbed 55.8% year-over-year. The primary engine behind those figures was the firm's continued platform expansion, with total capital responsibility reaching approximately $885.00 billion as of March 31, 2026, up 25% year-over-year, and AUM growing 23% to $233.35 billion across private equity, infrastructure, and private debt. Fee-earning AUM rose 19% to $144.05 billion, while undeployed fee-earning capital surged 63% to $40.10 billion, signaling a robust pipeline for future management fee generation. On a GAAP basis, however, net income contracted sharply to $6.66 million from $13.15 million a year ago, weighed down by substantial equity-based compensation and performance fee-related charges. The board also declared a regular quarterly dividend of $0.28 per share alongside a supplemental dividend of $0.55 per share, both payable June 30, 2026.