StepStone Group Inc. (STEP) Earnings Call Transcripts
StepStone Group Inc.'s Latest Earnings Call - June 9, 2026
In the earnings call held on June 9, 2026, StepStone Group Inc. reported a record fiscal year 2016 with $38 billion in capital formation, driven by strong demand across managed accounts and co-mingled funds. The company highlighted a 90% re-up rate in managed accounts, indicating robust client retention and expansion potential. Management maintained a positive outlook for future growth, particularly in the private wealth segment, with guidance suggesting continued strength in organic inflows and a sustainable run rate of over $2 billion per quarter.
Reported metrics
| Metric | Value |
|---|---|
| Total Capital Formation | $38B (beat) |
| Managed Accounts Capital | $22B (inline) |
| Co-mingled Funds Capital | $17B (inline) |
| Private Wealth Inflows | $2.3B (beat) |
| Undeployed Fee-Earning Capital | $40B (positive) |
| Operating Margin | 38% (positive) |
Guidance from management
Management expressed confidence in sustaining strong inflows in private wealth, projecting a run rate of over $2 billion per quarter. They also indicated that margin expansion is expected to continue as the business grows.
What management said
Great. And we're just about up on time. So final question. If we look out over the next few years, what do you think becomes the next biggest incremental growth driver for StepStone where do you think the white space is great as today?
What analysts pressed on
Analysts raised concerns about the sustainability of private wealth inflows and the potential impact of market volatility on future growth. There was also discussion around the challenges of maintaining institutional-level underwriting discipline in a retail-oriented channel.
Main topics on the call
- Record Capital Formation — StepStone achieved a record $38 billion in capital formation for fiscal 2016, with $22 billion from managed accounts and $17 billion from co-mingled funds. CEO Scott Hart noted, 'We think on the managed account front... ...
- Strong Private Wealth Flows — The company reported $2.3 billion in organic inflows into private wealth vehicles, with management expressing confidence in sustaining this momentum. Hart stated, 'We're sitting about $1.8 billion with good visibility to...
- Undeployed Capital — StepStone has $40 billion of undeployed fee-earning capital, which provides visibility into future growth. McCabe emphasized, 'That provides us and you with a lot of insight and visibility into the growth algorithm going...
- Margin Expansion — The company has improved its operating margins from 24% at IPO to 38% today, signaling effective cost management and operational leverage. McCabe noted, 'We think there is more margin expansion to enjoy going forward.'
Read the full StepStone Group Inc. transcript (June 9, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About StepStone Group Inc.
StepStone Group Inc. (STEP) is a publicly listed company in the Capital Markets industry, within the Financials sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 59 calls on record spanning March 12, 2020 to June 9, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 59 StepStone Group Inc. earnings call transcripts on record, spanning March 12, 2020 to June 9, 2026. Based on this history, StepStone Group Inc. reports quarterly. The most recent call on file is dated June 9, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- STEP
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Financials
- Industry
- Capital Markets
- Calls on record
- 59
- First call
- March 12, 2020
- Most recent
- June 9, 2026
- Reporting cadence
- quarterly