StepStone Group (STEP) 2026 RBC Capital Markets Global Financial Institutions Conference summary

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.

• 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, and evergreen funds.

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

AI, technology, and data strategy

• 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, analysis, and insight sharing across the organization.

• Clients increasingly seek guidance on implementing AI, benefiting from shared learnings and platform insights.

Institutional vs. retail client engagement

• Institutional portfolios are highly customized, while commingled and evergreen vehicles serve broader investor bases.

• Education, training, and knowledge transfer are critical value-adds for both institutional and retail clients.