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StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm that specializes in creating customized investment solutions and providing advisory, data, and administrative services. With approximately $659 billion in total capital responsibility as of September 30, 2023, including $146 billion in assets under management, the firm partners with the world's most sophisticated investors. StepStone crafts portfolios tailored to meet specific investment objectives across private equity, infrastructure, private debt, and real estate asset classes.
Founded on a highly disciplined, research-focused approach, StepStone integrates primary investments, secondary market opportunities, and co-investments to construct its client portfolios. The firm's clientele includes public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations, family offices, and private wealth clients.
One of StepStone's significant offerings is SPI by StepStone, a leading technology solution that unifies the firm’s extensive research, data, and private markets tools into a single web-based platform. This platform provides critical insights across various asset classes and geographies, aiding investors in making well-informed decisions. The platform includes tools for manager research, performance reporting, portfolio exposures, commitment pacing, and benchmarking.
StepStone maintains a robust financial condition, supported by strong fee-related earnings and a disciplined approach to managing client assets. The company uses advanced data analytics and proprietary databases to enhance its decision-making processes. Recent achievements include expanding SPI by StepStone and celebrating the promotion of senior leaders dedicated to client success and operational excellence.
For more information, visit StepStone Group Inc. or access the SPI platform at SPI by StepStone.
StepStone Private Wealth (SPW) has surpassed $5 billion in global assets under management, becoming one of the fastest-growing private market asset managers for financial professionals and high net worth clients. Founded in 2019, SPW aims to expand access to private market assets for the private wealth market.
SPW launched its first registered closed-end evergreen fund, StepStone Private Markets Fund (SPRIM), in 2020, which now stands at $3.1 billion AUM with an annualized return of 23.08% since inception. The firm has expanded its offerings to include venture capital, growth equity, infrastructure, and private credit funds.
SPW's success is attributed to its focus on convenience, transparency, and efficiency in private markets investing. The company offers offshore options for each of its funds and has partnered with various distribution channels to reach tens of thousands of new investors seeking private markets solutions.
StepStone Group Inc. (Nasdaq: STEP) has announced the final close of StepStone Secondary Opportunities Fund V, L.P. (SSOF V) and related separate accounts, collectively referred to as Fund V, with $7.4 billion of capital commitments. SSOF V, with $4.8 billion in aggregate capital commitments, has more than doubled in size compared to its predecessor fund.
The fund is over 50% committed to investments and will focus on less efficient segments of the secondaries market. It is supported by a diverse set of global institutional investors and managed by a team led by Thomas Bradley and Mark Maruszewski, Co-Heads of Private Equity Secondaries, along with Adam Johnston and John Kettnich.
StepStone's secondaries strategy leverages the firm's broader platform, utilizing sponsor relationships and differentiated data to create opportunities for strong risk-adjusted returns. Since inception, StepStone has deployed over $14 billion into more than 210 private equity secondaries transactions.
StepStone Group Inc. (STEP) has priced its secondary offering of 4,099,997 shares of Class A common stock at $50.00 per share. The offering is expected to close on September 11, 2024. StepStone will use the net proceeds to purchase shares from certain holders and pay cash upon exchange of Class B and C units. The company will not retain any proceeds, and the offering is expected to result in no dilution to existing stockholders. Goldman Sachs & Co. is acting as the sole book-running manager for the offering. StepStone has filed a registration statement and prospectus supplement with the SEC for the offering.
StepStone Group Inc. (STEP) has announced a secondary offering of 4,099,997 shares of its Class A common stock. The company will not retain any net proceeds from the offering, as it intends to use all funds to purchase shares from certain holders and pay cash upon exchange of Class B and C units. Goldman Sachs & Co. is acting as the sole book-running manager for the proposed offering.
StepStone expects no dilution to existing stockholders as a result of this offering. The company has filed an effective registration statement with the SEC, and a preliminary prospectus supplement will be made available. Interested investors are advised to read the prospectus and related documents before investing.
StepStone Group (Nasdaq: STEP) has announced that its CEO Scott Hart and Head of Strategy Mike McCabe will be presenting at the Barclays Global Financial Services Conference on Tuesday, September 10, 2024 at 2:00 pm ET. This presentation marks an important opportunity for StepStone to showcase its strategies and insights to a global audience of financial industry professionals.
Investors and interested parties can access a live webcast of the presentation through StepStone's website at https://shareholders.stepstonegroup.com. For those unable to attend the live event, a replay will also be made available on the same platform, allowing for convenient viewing at a later time. This event underscores StepStone's commitment to transparent communication with its shareholders and the broader financial community.
StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm, has reported its financial results for the first quarter of fiscal year 2025, ended June 30, 2024. The company's Board of Directors has declared a quarterly cash dividend of $0.24 per share of Class A common stock, payable on September 13, 2024, to shareholders of record as of August 30, 2024.
StepStone has made a detailed presentation of its Q1 FY2025 results available on its website. The company will host a webcast and conference call on August 8, 2024, at 5:00 pm ET to discuss the results. Interested parties can access the webcast through the Shareholders section of StepStone's website, with a replay available after the event.
StepStone Group Inc. (Nasdaq: STEP) has announced that it will release its financial results for the first quarter of fiscal year 2025, which ended on June 30, 2024, after market close on Thursday, August 8, 2024. The company will host a webcast and conference call on the same day at 5:00 pm ET to discuss the quarterly results.
Interested parties can access the webcast through the Shareholders section of StepStone's website. To participate in the live Q&A portion of the call, individuals must register in advance. A replay of the event will be available on the company's website approximately two hours after the call concludes.
StepStone Real Estate (SRE), the real estate arm of StepStone Group (Nasdaq: STEP), has been named Investment Consultancy of the Year at the 2024 IPE Real Estate Global Awards. This marks the third consecutive year that SRE has received this honor. In April, SRE was also voted the Global Indirect Firm of the Year by Private Equity Real Estate (PERE) readers. The award acknowledges SRE’s innovative solutions for clients such as a prominent U.S. pension fund, a UK corporate pension fund, and a U.S. insurance dedicated fund. These solutions have helped clients optimize their portfolios and generate alpha. Jeff Giller, Partner and Head of SRE, emphasized the firm's commitment to delivering superior service and innovative solutions to clients.
StepStone Private Wealth (SPW) has launched the StepStone Private Credit Income Fund (CRDEX), an evergreen interval fund available for daily purchase via the ticker CRDEX. This fund aims to provide current income and long-term capital appreciation by investing in diverse private credit assets. Using a multi-lender approach, CRDEX will employ direct lending and specialty credit strategies, including direct loans and secondaries. CRDEX complements SPW's existing funds like StepStone Private Markets Fund (XPMIX) and StepStone Private Infrastructure Fund (STRUX). Managed by StepStone Private Debt, which oversees $50 billion in capital, CRDEX seeks to offer stability with high yields and inflation protection through floating rate, senior secured loans. The fund is available to U.S. investors with a minimum investment of $25,000 and offers quarterly liquidity.
StepStone Group (Nasdaq: STEP) has successfully closed its sixth venture capital secondaries fund, StepStone VC Secondaries Fund VI (VSF VI), raising $3.3 billion. This oversubscribed fund marks the largest ever exclusively focused on venture capital secondaries. Existing and new partners contributed to the fund, which aims to provide liquidity to founders and early investors in mature venture-backed companies. With venture capital AUM growing from $600 billion in 2014 to $3.3 trillion by 2023, StepStone leverages its vast data and integrated approach to capitalize on secondary market opportunities.
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