StepStone Group Inc.

Good afternoon, ladies and gentlemen, and welcome to StepStone's fourth quarter and fiscal year 2021 earnings conference call. As a reminder, this call will be recorded. I would now like to turn the conference over to Seth Weiss, StepStone's head of investor relations.

Thank you, and good afternoon, everyone.

Joining me on the call today are Scott Hart, co-chief executive officer, Jason Mentz, president and co-chief operating officer, Mike McCabe, Head of Strategy, and Johnny Randall, Chief Financial Officer. During our prepared remarks, we will be referring to a presentation which is available on our investor relations website at shareholders.stepstonegroup.com. Before we begin, I'd like to remind everyone that this conference call, as well as the presentation, contains certain forward-looking statements regarding the company's expected operating and financial performance for future periods. Forward-looking statements reflect the management's current plans, estimates, and expectations and are inherently uncertain and are subject to various risks, uncertainties, and assumptions. Actual results for future periods may differ materially from those expressed or implied by these forward-looking statements due to a number of risks or other factors that are described in the risk factor section of StepStone's prospectus filed with the U.S. Securities and Exchange Commission on March 19th, 2021. Turning to our financial results on slide three, we reported gap net income of $151.2 million and $314.6 million for the quarter and fiscal year ended March 31st, 2021. Gap net income attributable to StepStone Group was $37.8 million for the quarter and $62.6 million for the year-to-date period since the IPO. Fee-related earnings for the quarter was $21.0 million, an increase of 38% from a year ago, while full-year fee-related earnings were $89.5 million, up 45%. Adjusted net income for the quarter was $24.6 million, up 191%, while full-year ANI was 85.4 million, up 70% from the prior year. Finally, we reported adjusted net income per share up 25 cents for the quarter and 87 cents for the full year. The current quarter contained retroactive fees tied to additional closes of StepStone Tactical Growth Fund 3 that benefited revenue, fee-related earnings, and pre-tax adjusted net income by $0.8 million. This compares to retroactive fees in the fourth quarter of fiscal 2020 that contributed $3.8 million to revenue and $3.7 million to fee-related earnings and pre-tax adjusted net income. I'd now like to turn the call over to StepStone's Co-Chief Executive Officer, Scott Hart.