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MADRID - Investment firm StepStone Group (NASDAQ:STEP) announced Monday the opening of a new office in Madrid, expanding its European presence to nine locations. The company's stock currently trades at $63.09, having gained 11.2% year-to-date.
The Madrid office will serve clients in Spain, Portugal and Andorra, and will be managed by Guglielmo Russo Walti, who leads business development and client relations for the Iberian region.
"The establishment of our Madrid office is a clear indication of our long-term commitment to growth in Southern Europe," said David Jeffrey, Partner and Head of Europe at StepStone.
Giada De Mattia, Partner and Head of Business Development in Southern Europe, noted that the new location would enhance the firm's proximity to clients and investors in the Iberian market.
StepStone Group, which specializes in private markets investment, currently operates 31 offices worldwide. According to the company's press release, as of September 30, 2025, the firm was responsible for approximately $771 billion of total capital, including $209 billion of assets under management.
The company's clients include public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations, family offices and private wealth clients.
In other recent news, StepStone Group reported its Q2 FY2026 earnings, highlighting a mixed financial performance. The company posted an adjusted earnings per share (EPS) of $0.45, which fell slightly short of analyst expectations of $0.46, marking a negative surprise of 2.17%. However, StepStone Group's revenue surpassed projections, reaching $271.68 million compared to the forecasted $266.13 million, resulting in a positive surprise of 2.09%. These developments reflect the company's varied financial outcomes in the recent period. Analysts had anticipated these figures, and the results show a divergence between earnings and revenue performance. The company's financial results are crucial for investors, as they provide insights into its recent operational efficiency. This earnings report is a key indicator of StepStone Group's current business trajectory.
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