STEP posts record fundraising and 61% FRE growth
STEP reported quarterly fee revenue up 37% to $298M and FRE up 61% to $126M, with record 12-month fundraising above $43B, per TradingView.
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what happened
According to TradingView, STEP's quarterly fee revenue rose 37% year on year to $298 million. Fee-related earnings climbed 61% to $126 million. Fundraising over the last 12 months reached a record above $43 billion.
Guidance points to a cash compensation ratio of about 42% for FY27 and a meaningful margin improvement. Exits from private markets, however, remain challenged.
why it matters
For STEP shareholders, two factors matter: fast growth in fee income and strong capital inflows against a weak exit market. For the wider private-markets sector the signal is mixed: investor demand for funds holds up, but returning cash to investors is still difficult.
market impact
STEP shares: strong results and fundraising support the stock
- STEP shares pressure up — revenue and FRE growth plus record fundraising
tags
instruments
sources
- STEP: Record fundraising and 61% FRE growth lifted results as private-market exits stayed challenging — TradingView, 5 November 2026 at 23:51 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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