Record Private Wealth Subscriptions
StepStone generated $2.4 billion of new subscriptions in its Private Wealth platform, nearly double its previous highest quarter, driven by growth in existing products and the launch of the STPEX fund.
Strong Institutional Fundraising
StepStone raised $3.8 billion in managed account gross additions in the quarter and over $10 billion for the first half of the fiscal year, continuing momentum from a record-setting fundraising year.
Fee-Earning AUM Growth
Fee-earning AUM increased by more than $5.5 billion in the quarter to nearly $133 billion, translating to growing earnings power with $78 million of core fee-related earnings, representing a 34% year-over-year growth.
Strategic Partnerships and International Expansion
StepStone announced a partnership with Aviva and opened new offices in the Netherlands, Spain, South Korea, and Saudi Arabia, highlighting its international growth and commitment to client partnerships.