StepStone Group Reports Second Quarter Fiscal Year 2023 Results

Rhea-AI Summary

StepStone Group Inc. (Nasdaq: STEP) reported its second-quarter results for fiscal year 2023, ending September 30, 2022. The company oversees approximately $602 billion in private markets allocations, including $135 billion in assets under management. A quarterly cash dividend of $0.20 per share has been declared, payable on December 15, 2022, to shareholders as of November 30, 2022. StepStone continues to provide customized investment solutions and advisory services to a diverse clientele including pension funds and family offices.

Positive

• Declared a quarterly cash dividend of $0.20 per share.
• Manages approximately $602 billion in private markets allocations.
• Holds $135 billion in assets under management.

Negative

• None.

NEW YORK, Nov. 03, 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 September 30, 2022. This represents results for the second 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 December 15, 2022, to the holders of record as of the close of business on November 30, 2022.

StepStone issued a full detailed presentation of its second 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, November 3, 2022 at 5:00 pm ET to discuss the Company’s results for the second fiscal quarter ended September 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 1-888-999-5318 (United States) or 1-848-280-6460 (international).

A replay of the call will also be available on the Company's website approximately two hours after the live call through November 17, 2022. To access the replay, dial 1-844-512-2921 (United States) or 1-412-317-6671 (international). The replay PIN is 11152429. 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 September 30, 2022, StepStone oversaw approximately $602 billion of private markets allocations, including $135 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's earnings results for Q2 2023?

StepStone reported strong management of approximately $602 billion in private markets allocations, indicating robust performance.

When is the StepStone dividend payment date?

The dividend payment date for StepStone is December 15, 2022.

What is the significance of StepStone's assets under management?

StepStone's $135 billion in assets under management highlights its role as a key player in the private markets investment sector.

What is the ticker symbol for StepStone?

The ticker symbol for StepStone Group Inc. is STEP.