StepStone Group Inc. STEP Business Segments
| Q4 '26 | Q3 '26 | Q2 '26 | Q1 '26 | Q4 '25 | ||
|---|---|---|---|---|---|---|
| Total revenues by Product | ||||||
| Carried Interest Allocations | $239.63M+61.2% | $148.69M-28.1% | $206.69M+82.4% | $113.29M+16.7% | $97.11M-17.4% | |
| Legacy Greenspring Carried Interest Allocations | $81.99M+915% | -$10.06M-137% | $27.14M-31.5% | $39.64M-35.3% | $61.31M+647% | |
| Management and advisory fees, net | $259.87M+8.3% | $239.93M+11.3% | $215.49M+2.0% | $211.17M-1.0% | $213.4M+11.8% | |
| Performance Fees | $328.71M-5.2% | $346.58M+45.2% | $238.74M+55.9% | $153.11M-6.8% | $164.33M+10.9% | |
| Realized | $38.6M-17.4% | $46.7M-20.7% | $58.88M+141% | $24.4M-67.9% | $75.94M+213% | |
| Total incentive fees | $7.09M-96.6% | $208M+4,143% | $4.9M+2,480% | $190K-96.8% | $5.91M-73.6% | |
| Unrealized | $201.03M+97.1% | $101.99M-31.0% | $147.81M+66.3% | $88.88M+320% | $21.18M-77.3% | |
| Service fees by Product | ||||||
| Advisory and other services | $20M+9.3% | $18.3M+12.5% | $16.26M-18.5% | $19.94M+0.1% | $19.93M+14.1% | |
| Focused commingled funds | $160.45M+12.0% | $143.3M+14.3% | $125.34M+5.6% | $118.67M-3.9% | $123.53M+17.8% | |
| Fund reimbursement revenues | $3.08M-1.1% | $3.11M+41.4% | $2.2M+0.6% | $2.19M-2.6% | $2.25M0.0% | |
| Income Based Incentive Fees | $7.1M+18.3% | $6M+13.2% | $5.3M+20.5% | $4.4M+29.4% | $3.4M+61.9% | |
| SMAs | $76.34M+1.5% | $75.23M+4.9% | $71.69M+1.9% | $70.38M+4.0% | $67.7M+2.2% | |
| Revenue from contracts with customer by Product | ||||||
| Focused commingled funds | $1.67M-99.2% | $207.95M+424,296% | $49K-74.2% | $190K-73.1% | $707K-96.8% | |
| SMAs | $5.42M-92.8% | $75.23M+1,450% | $4.85M-93.1% | $70.38M+1,253% | $5.2M-92.1% | |
| Total carried interest allocations by Product | ||||||
| Carried Interest Allocation, Focused Commingled Funds | $171.86M+102% | $85.13M+4.0% | $81.88M+357% | $17.92M-69.6% | $59.02M+36.6% | |
| Carried Interest Allocation, Separately Managed Accounts | $67.77M+6.6% | $63.56M-49.1% | $124.81M+30.9% | $95.36M+150% | $38.1M-48.8% | |
| Legacy carried interest allocation, SMAs | $348K+63.4% | $213K-35.5% | $330K+237% | $98K— | —— | |
| Legacy gross carried interest allocation, focused comingled funds | $1.3M+333% | $300K-97.7% | $13.3M+171% | $4.9M-22.2% | $6.3M-83.6% | |
| Total revenues by Geography | ||||||
| Non-U.S. countries | $220.64M+2.3% | $215.77M-16.1% | $257.17M+12.7% | $228.28M+35.3% | $168.67M-14.2% | |
| United States | $367.94M-0.8% | $370.74M+88.1% | $197.05M+44.9% | $136.01M-34.9% | $209.06M+46.8% |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does StepStone Group Inc. break its business down?
- StepStone Group Inc. (STEP) reports total revenues by product across 7 parts — Carried Interest Allocations, Legacy Greenspring Carried Interest Allocations, Management and advisory fees, net, Performance Fees and Realized. Each is extracted from the segment footnotes and tracked over time.
- Where does StepStone Group Inc.'s segment data come from?
- Segment breakdowns are pulled from the segment footnotes in StepStone Group Inc.'s SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.