StepStone Group Reports Record Fee-Related Earnings and Strong Fundraising in Q2 2027
StepStone Group (STEP) delivered a robust second quarter, highlighted by fee-related earnings of $126 million, representing a 61% year-over-year increase. This growth was primarily driven by significant expansions in fee-earning assets under management (AUM) across both drawdown and evergreen fund structures. The company also achieved record fundraising levels, with $11 billion raised during the quarter and total gross AUM additions reaching $43 billion over the past 12 months. The firm's private wealth platform continues to scale, reaching over $23 billion in total assets with $1.7 billion in new subscriptions this quarter. While real estate fee-earning AUM saw a slight decline of 6%, other sectors like private equity and private debt showed strong double-digit growth. Despite a GAAP net loss due to fair value adjustments, management's focus remains on leveraging record undeployed capital to drive future earnings.
Tickers: $STEP
Topics: AUM growth Fee-Related Earnings Fundraising Net Income Private Wealth Management
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