StepStone Q1 2022 Earnings Report

Reported an increase in fee-earning AUM and adjusted net income.

Key Takeaways

StepStone Group reported strong Q1 2022 results, driven by a 27% increase in fee-earning AUM, which led to a 23% rise in fee revenue. Adjusted net income per share increased by 156% due to higher fee-related earnings and net realized performance fees.

Declared a dividend of $0.07 per share of Class A common stock

Raised approximately $11 billion of new SMA capital in the last twelve months

Achieved a NAV of approximately $150 million for Conversus StepStone Private Markets (“CPRIM”), posting a 45% net return since inception as of June 30, 2021

Entered into a transaction agreement to acquire 100% of Greenspring Associates, Inc.

Total Revenue

$309M

Previous year: -$61.4M

-602.5%

EPS

$0.41

Previous year: -$2.12

-119.3%

Assets under management

$89.8B

Undeployed fee-earning capital