StepStone Q4 Fees Climb 8.3% to $259.9M, Declares $0.83 Dividend
STEP•StepStone reported Q4 and full fiscal 2026 net management and advisory fees rose 8.3% quarter-over-quarter to $259.9 million, while total capital under management reached $885 billion, including $233 billion of AUM as of March 31. The board declared a combined $0.83 per share dividend payable June 30 to record holders as of June 15.
1. Strong Fee Revenue Growth
StepStone recorded net management and advisory fees of $259.9 million for the quarter ended March 31, 2026, up 8.3% from $239.9 million in the prior quarter and up 21.7% from $213.4 million a year earlier. This surge in fee revenue underpinned solid fourth-quarter earnings, supported by higher performance fee realizations and expanded client commitments across private markets strategies.
2. Significant Cash Dividend Declared
The board approved a quarterly cash dividend of $0.28 per share plus a supplemental dividend of $0.55 per share, totaling $0.83 per Class A share, payable June 30 to holders of record on June 15. This payout will be funded from available cash reserves and may exert pressure on StepStone’s liquidity and cash flow metrics in the current quarter.
3. Record AUM and Diverse Client Base
As of March 31, 2026, StepStone was responsible for approximately $885 billion of total capital, including $233 billion of assets under management, reflecting growth across private equity, infrastructure, private debt and real estate. Its client roster spans major public and private pension funds, sovereign wealth funds, insurance companies, endowments and high-net-worth individuals globally.
