UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________________ to ___________________________ Commission file number 001-39510 STEPSTONE GROUP INC. (Exact name of Registrant as specified in its charter) (S ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________________ to ___________________________ Commission file number 001-39510 STEPSTONE GROUP INC. (Exact name of Registrant as specified in its charter) ( ...

Financial Data and Key Metrics Changes - The company reported a GAAP net loss of $67.1 million for Q2 2023, with a net loss attributable to StepStone Group of $29.2 million [7] - Fee-related earnings reached $39 million, marking a 48% increase year-over-year, while adjusted net income was $37.3 million, down from $0.40 per share in the prior year quarter to $0.33 [11][12] - The company finished the quarter with $135 billion in assets under management (AUM) and $80 billion in fee-earning assets, reflecting a 20% growth in fee-earning AUM over the past year [14] Business Line Data and Key Metrics Changes - The retail segment saw strong inflows, raising approximately $180 million for the quarter into the SeaPrime product, which now has over $850 million in AUM and an annualized return of 33% [17] - The company activated several funds post-quarter, including a PE secondaries fund and a multi-strategy global venture capital fund, which are expected to contribute approximately $2 billion to fee-earning assets in the next quarter [22] Market Data and Key Metrics Changes - The company experienced a $500 million drag on fee-earning assets due to currency movements, primarily from the strengthening of the U.S. dollar [23] - The company reported $19 billion in gross AUM inflows over the last 12 months, with over $7 billion from commingled funds and over $11 billion from separately managed accounts [21] Company Strategy and Development Direction - The company aims to make private markets accessible to individual investors, rebranding Conversus as StepStone Private Wealth and expanding its retail product offerings [17][26] - The management emphasized the importance of manager selection and asset allocation in the current market environment, positioning StepStone to help clients navigate these challenges [15] Management's Comments on Operating Environment and Future Outlook - Management noted that while clients are cautious, they are still looking for compelling opportunities in private markets, indicating a resilient demand despite market volatility [15] - The company expects to grow its quarterly dividend in line with fee-related earnings and plans to introduce a supplemental annual dividend funded by performance-related earnings [34][35] Other Important Information - The company reported a FRE margin of 33% for the quarter, up approximately 100 basis points year-over-year, indicating strong profitability [37] - The gross accrued carry finished the quarter at approximately $1.2 billion, reflecting a decrease due to reduced underlying valuations [42] Q&A Session Summary Question: Update on FRE margin expectations - Management indicated that the FRE margin is tracking ahead of expectations, maintaining a medium-term outlook in the mid-30s range [46] Question: Retail flows and investor hesitancy - Management noted that retail flows have increased due to expanded distribution and strong product reception, despite market volatility [48] Question: Fundraising and LP capacity - Management acknowledged that many LPs have spent their 2022 budgets early, but they expect commitments to increase in early 2023 as budgets free up [53][55] Question: Competitive environment for retail products - Management highlighted the differentiated nature of their retail products, emphasizing their multi-asset class approach and accredited eligibility [56][58] Question: Impact of Conversus transition on adjusted income - Management clarified that the distribution business has not been profitable yet, but they expect to provide updates on flows and AUM as they progress [69] Question: Liquidity solutions and secondary market activity - Management noted an increase in LP interest in the secondary market as a solution to over-allocations, with a growing pipeline of LP-led secondary transactions [95] Question: Re-up rates and new customer activity - Management reported strong re-up rates, particularly on separate accounts, and noted good progress with new clients despite some delays in closing [102][104]

StepStone Group Inc. (NASDAQ:STEP) Q1 2023 Earnings Conference Call August 4, 2022 5:00 PM ET Company Participants Seth Weiss - Head, Investor Relations Scott Hart - Chief Executive Officer Mike McCabe - Head, Strategy Johnny Randel - Chief Financial Officer Conference Call Participants Michael Cyprys - Morgan Stanley Ken Worthington - JPMorgan Alex Blostein - Goldman Sachs Adam Beatty - UBS Operator Welcome to the StepStone Fiscal First Quarter 2023 Earnings Call. At this time, all participants will be in ...

First Quarter Fiscal Year 2023 Earnings Presentation AUGUST 4, 2022 Today's Presenters Scott Hart CEO Jason Ment President & Co-COO Mike McCabe Head of Strategy Johnny Randel Chief Financial Officer STEPSTONE GROUP 2 GAAP Consolidated Income Statements GAAP net income (loss) was $(21.5) million for the quarter. GAAP net income (loss) attributable to StepStone Group Inc. was $(11.0) million (or $(0.18) per share) for the quarter. | --- | --- | --- | --- | --- | --- | |---------------------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________________ to ___________________________ Commission file number 001-39510 STEPSTONE GROUP INC. (Exact name of Registrant as specified in its charter) (State ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________________ to ___________________________ Commission file number 001-39510 STEPSTONE GROUP INC. (Exact name of Registrant as specified in its char ...

Financial Data and Key Metrics Changes - The company reported GAAP net income of $103.6 million, with net income attributable to StepStone Group Inc. at $41.8 million [6] - Fee-related earnings for the quarter were $35.9 million, adjusted net income was $43.7 million, and adjusted net income per share was $0.38, reflecting a 52% increase from the prior fiscal year's fourth quarter on a per share basis [29] - The company declared a dividend of $0.20 per share, a 33% increase over the prior dividend [29] Business Line Data and Key Metrics Changes - Fee-earning assets increased by over $23 billion for the year, ending with $75 billion of fee-earning AUM, with over 60% of organic growth coming from infrastructure, real estate, and private debt [11] - Private debt has been the fastest-growing asset class, with fee-earning assets growing at nearly 40% annualized pace [16] - The company completed the final close on its second Senior Corporate Lending Fund, raising a total of $1.3 billion, and its first credit opportunities fund raised over $600 million [17] Market Data and Key Metrics Changes - The company generated approximately $21 billion of gross AUM inflows in the last 12 months, with $5 billion from commingled funds and $16 billion from separately managed accounts [35] - Fee-earning assets grew organically by $4 billion in the quarter, with $3.7 billion added from separately managed accounts [35] - The company returned over $7 billion of capital to limited partners, marking the largest 12-month period of capital distributions on record [39] Company Strategy and Development Direction - The company aims to leverage its diversified platform to navigate market cycles and capitalize on investment opportunities [12][14] - There is a focus on expanding the product portfolio, including retail and institutional offerings, with plans for new funds targeting various asset classes [75][78] - The company is committed to maintaining a strong ESG framework, emphasizing carbon neutrality and diversity initiatives [30][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to grow fee-earning assets despite a challenging market backdrop characterized by inflation and rising interest rates [12] - The fundraising environment is expected to be more challenging, but there is still significant interest from investors looking to enter the venture capital market [65] - The company anticipates a bifurcated fundraising market, favoring disciplined managers with strong track records [27][86] Other Important Information - The integration of the Greenspring acquisition is progressing well, enhancing access to deal flow and due diligence insights [24] - The company reported a gross accrued carry of $1.5 billion, up 10% from the prior quarter [58] - Non-core expenses increased due to potential Greenspring acquisition earn-outs, which are expected to accrue periodically over the next three years [53] Q&A Session Summary Question: Interest in Venture Capital and Fundraising Environment - Management noted a shift in investor mentality towards sustainable growth and profitability, with continued momentum in fundraising despite a more challenging environment [63][64] Question: Performance Fee Compensation and Carry - Management explained that the low performance fee compensation payout ratio was due to timing and specific relationships, indicating it was an unusual quarter [67][68] Question: Retail Evergreen Product Distribution - The company reported strong progress in building out its distribution platform across various channels, with a focus on increasing allocations and team investment [72][73] Question: M&A Activity and Market Dynamics - Management indicated ongoing M&A activity in the industry, with a focus on strategic acquisitions to enhance the platform and navigate market transitions [102][103]

Fiscal Year 2022 Fourth Quarter and Full Year Earnings Presentation MAY 26, 2022 Today's Presenters Scott Hart CEO Jason Ment President & Co-COO Mike McCabe Head of Strategy Johnny Randel Chief Financial Officer STEPSTONE GROUP 2 GAAP Consolidated Income Statements GAAP net income was $103.6 million for the quarter and $484.3 million for the full year. GAAP net income attributable to StepStone Group Inc. was $41.8 million (or $0.69 per share) for the quarter and $193.9 million (or $3.84 per share) for the f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______________________ to ___________________________ Commission file number 001-39510 STEPSTONE GROUP INC. (Exact name of Registrant as specified in its charter) (S ...