StepStone Private Wealth Solutions reaches $10.2 billion AUM milestone

NEW YORK - StepStone Private Wealth Solutions (SPWS), the private wealth arm of StepStone Group (NASDAQ:STEP), has reached $10.2 billion in assets under management as of July 31, 2025, according to a company press release issued Thursday. The company, currently valued at approximately $7 billion, has demonstrated impressive growth with revenue increasing 88% over the last twelve months. According to InvestingPro analysis, the stock is currently trading below its Fair Value, suggesting potential upside opportunity.

The growth has been primarily driven by the U.S. market, with new partnerships established across global markets including Europe, Australia, Hong Kong, Singapore, and the UK. SPWS has attracted investments from private banks, wealth managers, family offices, and registered investment advisors. This expansion aligns with analysts’ positive outlook, as InvestingPro data shows multiple analysts have revised their earnings expectations upward for the upcoming period.

The company has implemented several changes to increase accessibility to private markets investments. These include lowering investment minimums and eliminating accredited investor status requirements for several U.S. evergreen funds. In February 2025, the firm launched European UCI Part II structures to provide European investors with similar access to private markets as their U.S. counterparts. For deeper insights into StepStone Group’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US equities with expert analysis and actionable intelligence.

SPWS has also partnered with Goji to create an onboarding experience for investors in several European private market evergreen funds, as announced in July 2025.

"We launched SPWS with a single mission: to enable a broader range of investors and their clients’ access to high-quality private markets opportunities," said StepStone Group CEO Scott Hart in the release.

The company is expanding its StepStone Academy curriculum to include continuing education credits for U.S. financial professionals, offering on-demand resources through videos and white papers.

StepStone Group, the parent company, was responsible for approximately $723 billion of total capital, including $199 billion of assets under management as of June 30, 2025. The firm operates through 29 offices globally.

In other recent news, StepStone Group has reported a notable increase in earnings per share (EPS) for the fourth fiscal quarter of 2025, reaching $0.68, which surpassed both Goldman Sachs’ and consensus estimates. This performance was bolstered by record fee-related earnings (FRE) of $94 million and a strong net performance fee contribution of $42 million. Additionally, StepStone’s first-quarter 2025 after-tax net income per share also stood at $0.68, exceeding Bloomberg consensus estimates of $0.44 and JPMorgan’s estimate of $0.46. The company reported management fees from commingled funds at $125 million, surpassing JPMorgan’s expectation of $110 million.

StepStone has also completed a significant transaction to expand its ownership stakes in three asset class entities. The firm’s ownership in real estate and real assets entities increased to approximately 60%, and in the private debt entity to 61%. This expansion involved a consideration of roughly $11 million in cash, 756,105 shares of StepStone’s Class A common stock, and 2,438,403 Class D Units of StepStone Group LP.

Analysts have adjusted their price targets for StepStone Group shares. Evercore ISI raised its price target to $62, citing the company’s 45% year-over-year growth in core fee-related earnings. Meanwhile, Goldman Sachs increased its target to $63, maintaining a Neutral rating, and JPMorgan raised its target to $68, maintaining an Overweight rating. These developments highlight StepStone’s strong financial performance and strategic expansions.

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