StepStone Group Reports First Quarter Fiscal Year 2023 Results

Rhea-AI Summary

StepStone Group Inc. (Nasdaq: STEP) reported its fiscal Q1 results for the period ending June 30, 2022. The firm, which manages approximately $588 billion across private markets, declared a quarterly cash dividend of $0.20 per share, payable on September 15, 2022. As of the reporting date, it held about $137 billion in assets under management. The company caters to major pension funds, sovereign wealth funds, and high-net-worth individuals, providing tailored investment solutions and advisory services.

Positive

• Declared a quarterly cash dividend of $0.20 per share.
• Managed approximately $588 billion in private markets allocations.

Negative

• None.

NEW YORK, Aug. 04, 2022 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm focused on providing customized investment solutions and advisory and data services, today reported results for the quarter ended June 30, 2022. This represents results for the first quarter for the fiscal year ending March 31, 2023. The Board of Directors of the Company has declared a quarterly cash dividend of $0.20 per share of Class A common stock, payable on September 15, 2022, to the holders of record as of the close of business on August 31, 2022.

StepStone issued a full detailed presentation of its first quarter fiscal 2023 results, which can be accessed by clicking here.

Webcast and Earnings Conference Call

Management will host a webcast and conference call on Thursday, August 4, 2022 at 5:00 pm ET to discuss the Company’s results for the first fiscal quarter ended June 30, 2022. The conference call will also be made available in the Shareholders section of the Company's website at https://shareholders.stepstonegroup.com/. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register.

The conference call can be accessed by dialing 1-877-375-7930 (United States) or 1-213-992-4628 (international).

A replay of the call will also be available on the Company's website approximately two hours after the live call through August 18, 2022. To access the replay, dial 1-844-512-2921 (United States) or 1-412-317-6671 (international). The replay pin number is 151137. The replay can also be accessed on the Shareholders section of the Company's website at https://shareholders.stepstonegroup.com.

About StepStone

StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory, data and administrative services to its clients. As of June 30, 2022, StepStone oversaw approximately $588 billion of private markets allocations, including approximately $137 billion of assets under management. StepStone's clients include some of the world's largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.

Forward-Looking Statements

Some of the statements in this release may constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking. Words such as “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “intend,” “may,” “plan” and “will” and similar expressions identify forward-looking statements. Forward-looking statements reflect management’s current plans, estimates and expectations and are inherently uncertain. The inclusion of any forward-looking information in this release should not be regarded as a representation that the future plans, estimates or expectations contemplated will be achieved. Forward-looking statements are subject to various risks, uncertainties and assumptions. Important factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, global and domestic market and business conditions, successful execution of business and growth strategies and regulatory factors relevant to our business, as well as assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity and the risks and uncertainties described in greater detail under the “Risk Factors” section of our Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on May 31, 2022, as such factors may be updated from time to time. We undertake no obligation to revise or update any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Contacts

Shareholder Relations:
Seth Weiss
shareholders@stepstonegroup.com
1-212-351-6106

Media:
Brian Ruby / Chris Gillick, ICR
StepStonePR@icrinc.com
1-203-682-8268

FAQ

What were StepStone Group's earnings for the first quarter of fiscal 2023?

StepStone Group reported its fiscal Q1 results on August 4, 2022, but specific earnings figures were not detailed in the press release.

When will the dividend for StepStone Group be paid?

The dividend of $0.20 per share will be paid on September 15, 2022.

What is the amount of assets under management by StepStone Group?

As of June 30, 2022, StepStone Group managed approximately $137 billion in assets.

Who are StepStone Group's main clients?

StepStone's clients include large pension funds, sovereign wealth funds, insurance companies, endowments, foundations, and high-net-worth individuals.

How can investors access the earnings conference call for StepStone Group?

Investors can access the earnings conference call on August 4, 2022, by dialing 1-877-375-7930 for the U.S. or 1-213-992-4628 for international calls.