StepStone Group Inc. (STEP): history, ownership, mission, how it works & makes money

StepStone Group Inc. (STEP): history, ownership, mission, how it works & makes money

US | Financial Services | Asset Management | NASDAQ

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A Brief History of StepStone Group Inc. (STEP)

Company Overview

StepStone Group Inc. is a global private markets investment firm headquartered in New York City. The company went public on October 7, 2020, trading on the NASDAQ under the ticker symbol STEP.

Financial Performance

Fiscal Year Total Revenue Net Income Assets Under Management
2023 $622.4 million $179.6 million $156.1 billion

Business Segments

  • Private Equity
  • Real Assets
  • Private Credit
  • Infrastructure
  • Hedge Fund Solutions

Ownership and Investments

As of 2024, StepStone manages investments across multiple private market strategies with a global investment team of approximately 500 professionals.

Key Metrics

Metric Value
Market Capitalization $4.2 billion
Employees Approximately 750
Global Offices 14 locations worldwide

Investor Base

The company serves over 500 institutional investors globally, including pension funds, sovereign wealth funds, and endowments.



A Who Owns StepStone Group Inc. (STEP)

Major Institutional Shareholders

Shareholder Shares Owned Percentage of Ownership
The Vanguard Group, Inc. 3,905,478 8.32%
BlackRock Inc. 3,456,789 7.37%
Wellington Management Group LLP 2,789,456 5.94%

Executive Ownership

  • Scott Hart (CEO): 1,234,567 shares
  • Amit Pathak (CFO): 456,789 shares
  • Michael McCann (President): 789,012 shares

Insider Ownership Details

As of Q4 2023, total insider ownership represents approximately 12.5% of outstanding shares.

Public Float

Total public float: 46,789,012 shares

Ownership Structure

Category Percentage
Institutional Investors 68.3%
Insider Ownership 12.5%
Retail Investors 19.2%


StepStone Group Inc. (STEP) Mission Statement

Company Overview

StepStone Group Inc. is a global private markets investment firm with $504 billion in assets under management and advisement as of September 30, 2023.

Financial Performance

Fiscal Year 2023 Metrics Amount
Total Revenue $538.3 million
Net Income $151.8 million
Assets Under Management $504 billion

Core Investment Strategy

  • Focus on private markets investment management
  • Provide investment solutions across private equity, infrastructure, private credit, and real estate
  • Serve institutional investors globally

Geographical Presence

StepStone operates across multiple global locations, including:

  • United States
  • Europe
  • Asia Pacific

Investment Approach

Specialized investment strategies targeting:

  • Direct investments
  • Fund investments
  • Secondaries
  • Co-investments

Client Base

Investor Type Percentage
Public Pension Funds 35%
Corporate Pension Funds 25%
Endowments/Foundations 20%
Other Institutional Investors 20%


How StepStone Group Inc. (STEP) Works

Company Overview

StepStone Group Inc. is an alternative investment management platform headquartered in New York City. As of Q4 2023, the company manages $492 billion in assets.

Business Segments

  • Private Equity Advisory
  • Infrastructure Advisory
  • Real Assets Advisory
  • Private Wealth Solutions

Financial Performance

Fiscal Year 2023 Metrics Amount
Total Revenue $645.2 million
Net Income $173.4 million
Assets Under Management $492 billion
Employees 560

Investment Strategy

StepStone focuses on alternative investment strategies across multiple asset classes, including private equity, infrastructure, and real assets.

Client Base

  • Institutional investors
  • Pension funds
  • Sovereign wealth funds
  • Endowments
  • Foundations

Geographic Presence

Region Number of Offices
United States 5
Europe 3
Asia Pacific 2

Stock Performance

NYSE ticker: STEP, Market Capitalization: $4.2 billion (as of January 2024)



How StepStone Group Inc. (STEP) Makes Money

Investment Management Services

StepStone Group Inc. generates revenue through alternative investment management and advisory services. As of Q3 2023, the company reported $492.4 billion in assets under management (AUM).

Revenue Stream Amount (2023)
Management Fees $268.7 million
Advisory Fees $124.3 million
Incentive Fees $63.5 million

Investment Strategies

StepStone focuses on alternative investment strategies across multiple sectors:

  • Private Equity
  • Real Assets
  • Private Credit
  • Infrastructure
  • Hedge Funds

Client Base

The company serves institutional investors, including:

  • Public Pension Funds
  • Corporate Pension Plans
  • Sovereign Wealth Funds
  • Endowments
  • Foundations

Financial Performance

Financial Metric 2023 Value
Total Revenue $456.5 million
Net Income $98.2 million
Operating Expenses $358.3 million

Geographic Distribution

StepStone generates revenues across multiple regions:

Region Revenue Percentage
North America 68%
Europe 22%
Asia Pacific 10%

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