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+147% | $148.69M+26.4% | $206.69M+196% | $113.29M+581% | $97.11M-42.8% | |
| Legacy Greenspring Carried Interest Allocations | $81.99M+33.7% | -$10.06M-223% | $27.14M+95.0% | $39.64M+536% | $61.31M— | |
| Management and advisory fees, net | $259.87M+21.8% | $239.93M+25.7% | $215.49M+16.6% | $211.17M+18.6% | $213.4M+39.1% | |
| Performance Fees | $328.71M+100% | $346.58M+134% | $238.74M+175% | $153.11M+1,726% | $164.33M-19.2% | |
| Realized | $38.6M-49.2% | $46.7M+92.3% | $58.88M+234% | $24.4M-41.6% | $75.94M+321% | |
| Total incentive fees | $7.09M+19.9% | $208M+830% | $4.9M+55.4% | $190K-77.4% | $5.91M+137% | |
| Unrealized | $201.03M+849% | $101.99M+9.3% | $147.81M+183% | $88.88M+453% | $21.18M-86.0% | |
| Service fees by Product | ||||||
| Advisory and other services | $20M+0.4% | $18.3M+4.8% | $16.26M+9.1% | $19.94M+35.0% | $19.93M+23.4% | |
| Focused commingled funds | $160.45M+29.9% | $143.3M+36.6% | $125.34M+16.8% | $118.67M+13.6% | $123.53M+54.1% | |
| Fund reimbursement revenues | $3.08M+37.1% | $3.11M+38.6% | $2.2M+85.6% | $2.19M+52.4% | $2.25M+95.6% | |
| Income Based Incentive Fees | $7.1M+109% | $6M+186% | $5.3M+308% | $4.4M+300% | $3.4M+325% | |
| SMAs | $76.34M+12.8% | $75.23M+13.6% | $71.69M+16.8% | $70.38M+22.7% | $67.7M+21.0% | |
| Revenue from contracts with customer by Product | ||||||
| Focused commingled funds | $1.67M+136% | $207.95M+830% | $49K-82.5% | $190K+363% | $707K— | |
| SMAs | $5.42M+4.1% | $75.23M+13.6% | $4.85M+68.8% | $70.38M+8,697% | $5.2M+74.5% | |
| Total carried interest allocations by Product | ||||||
| Carried Interest Allocation, Focused Commingled Funds | $171.86M+191% | $85.13M+97.1% | $81.88M+956% | $17.92M-7.8% | $59.02M+201% | |
| Carried Interest Allocation, Separately Managed Accounts | $67.77M+77.9% | $63.56M-14.6% | $124.81M+101% | $95.36M+3,495% | $38.1M-74.6% | |
| Legacy carried interest allocation, SMAs | $348K— | $213K+7.6% | $330K+365% | $98K-50.8% | —— | |
| Legacy gross carried interest allocation, focused comingled funds | $1.3M-79.4% | $300K-99.2% | $13.3M+11.8% | $4.9M-25.8% | $6.3M-81.3% | |
| Total revenues by Geography | ||||||
| Non-U.S. countries | $220.64M+30.8% | $215.77M+9.7% | $257.17M+48.1% | $228.28M+99.1% | $168.67M-32.3% | |
| United States | $367.94M+76.0% | $370.74M+160% | $197.05M+101% | $136.01M+89.5% | $209.06M+94.3% |
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.