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StepStone Group Inc. (STEP-3.29%) has submitted its 10-Q filing for the quarterly period ended December 31, 2024.
StepStone reported total revenues of $339.0 million for the quarter, an increase from a negative revenue of $14.6 million in the same quarter the previous year. The increase was driven by higher carried interest allocations and management and advisory fees.
Management and advisory fees, net increased to $190.8 million from $151.5 million, reflecting new client activity and growth in fee-earning assets under management.
Performance fees, including incentive fees and carried interest allocations, totaled $148.2 million, compared to a negative $166.1 million in the prior year, due to increased realization activity and positive fund performance.
Total expenses rose to $698.1 million from $19.2 million, primarily due to higher equity-based compensation and performance fee-related compensation.
Net income attributable to StepStone Group Inc. was a loss of $192.0 million, compared to a loss of $20.2 million in the previous year.
StepStone's assets under management were reported at $179 billion, up from $157 billion at the end of March 2024.
The company announced a quarterly dividend of $0.24 per share of Class A common stock, payable on March 14, 2025, to holders of record as of February 28, 2025.
StepStone issued $175.0 million in senior notes during the quarter and repaid all outstanding amounts under its revolving credit facility.
The company continues to monitor economic conditions, including inflation and geopolitical tensions, which may impact its financial performance and market opportunities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the StepStone Group Inc. quarterly 10-Q report dated February 6, 2025. To report an error, please email earnings@qz.com.