StepStone Group (STEP) investor relations material

Business overview and client solutions

• Over $800 billion in total capital responsibility, with $220 billion in discretionary AUM and $75 billion allocated annually to private markets.

• Solutions evolved from highly customized portfolios for large asset owners to broader products for investor classes, including private wealth, insurance, and retirement solutions.

• Four main asset classes: private equity/venture capital, real estate, infrastructure, and private credit, with strategies spanning primary, secondary, and co-investments.

• Flexible client engagement through advisory, separately managed accounts, commingled funds, and evergreen funds.

• Emphasis on a listen-first approach to understand and address client challenges.

AI, technology, and data-driven insights

• AI has been a focus for several years, with increased client engagement as the pace of change accelerates.

• Portfolio construction and diversification are key tools for managing disruption and uncertainty.

• Proprietary technology platform enables data capture, organization, and analysis to assess portfolio health and identify opportunities.

• Venture team provides insights on emerging technologies and companies, informing broader investment decisions.

• Clients increasingly seek guidance on implementing AI, benefiting from StepStone’s experience and platform-wide insights.

Institutional vs. retail client engagement

• Institutional portfolios are highly customized, while commingled and evergreen vehicles involve broader communication and intermediaries.

• Consistent demand for education, training, and knowledge transfer across both client segments.

• Value-added partnership now requires more than returns, with knowledge sharing as a key differentiator.