Welcome to our dedicated page for Stepstone Group news (Ticker: STEP), a resource for investors and traders seeking the latest updates and insights on Stepstone Group stock.
StepStone Group Inc. reports developments tied to its role as a global private markets investment firm providing customized investment solutions, advisory services, and data services. Its updates cover private equity, infrastructure, private debt, and real estate strategies, including fund closings, secondaries vehicles, credit opportunities, co-investments, and investment activity across private markets portfolios.
Company news also includes earnings announcements, capital allocation actions, leadership promotions, and data partnerships connected to StepStone’s proprietary SPI platform. Recurring disclosures describe how the firm serves institutional, private wealth, pension, sovereign wealth, insurance, endowment, foundation, and family office clients through private markets portfolio construction and analytics.
StepStone Group announced the pricing of a secondary offering of 4,500,000 shares of its Class A common stock at $52.35 per share. The offering is led by certain selling stockholders, who will receive all net proceeds, while StepStone will not gain from this sale. Underwriters have a 30-day option to purchase an additional 675,000 shares. The offering is anticipated to close on November 18, 2021. Morgan Stanley, Goldman Sachs, and J.P. Morgan are acting as joint book-running managers. This announcement follows StepStone's oversight of approximately $519 billion in private markets as of September 30, 2021.
StepStone Group announced that certain stockholders plan to sell 4,500,000 shares of Class A common stock in an underwritten secondary offering. The Selling Stockholders may also grant underwriters a 30-day option for an additional 675,000 shares. Notably, StepStone will not receive any proceeds from this offering. The offering is managed by Morgan Stanley, Goldman Sachs, and J.P. Morgan. StepStone oversees approximately $519 billion in private market allocations, with $121 billion in assets under management, serving major pension funds and institutions.
StepStone Group, Inc. (Nasdaq: STEP) announced the successful closing of its Tactical Growth Fund III (STGF III), securing over $690 million in commitments. The fund attracts a diverse group of investors, including pension plans, insurance companies, and family offices, focusing on high-growth technology and healthcare assets. With over $519 billion in private markets allocations and a dedicated team of over 70 investment professionals, StepStone aims to capture market opportunities while managing risks. The fund's managers are optimistic about the potential generated by technological innovation.
StepStone Group Inc. has announced a leadership transition, effective January 1, 2022, with Scott Hart becoming the sole CEO, while co-founder Monte Brem transitions to Executive Chairman. This change follows Hart's role as co-CEO since 2019. The firm, overseeing approximately $519 billion in private markets allocations, aims to continue its strategic growth after recent advancements, including its IPO in September 2020 and the acquisition of Greenspring Associates in September 2021. Brem expresses confidence in Hart's leadership as they pursue ongoing development.
StepStone Group Inc. (Nasdaq: STEP) reported its fiscal Q2 results for the quarter ending September 30, 2021. The company oversees approximately $519 billion in private markets allocations, with $121 billion in assets under management. A quarterly cash dividend of $0.15 per share was declared, payable on December 15, 2021, to shareholders of record as of November 30, 2021. The management will discuss these results in a conference call on November 9, 2021, at 5:00 pm ET.
StepStone Real Estate and BVK have formed a €300 million investment partnership aimed at providing secondary liquidity to private real estate vehicles. This partnership will target secondaries in opportunistic, value-added, and core-plus funds, primarily in the U.S. and Asia-Pacific. Together with existing funds, StepStone Real Estate manages over $1.5 billion in unfunded commitments for real estate secondary opportunities. This collaboration enhances StepStone's position as a leading liquidity provider in the market.
StepStone Group Inc. (Nasdaq: STEP) will announce its financial results for the quarter ending September 30, 2021, post-market on November 9, 2021. This report covers the second quarter of the fiscal year ending March 31, 2022. A conference call will be held on the same day at 5:00 pm ET to discuss these results, accessible through their website. As of June 30, 2021, StepStone managed $484 billion in private markets allocations and $109 billion in assets, serving a diverse client base of pension funds, sovereign wealth funds, and high-net-worth individuals.
StepStone Group Inc. (Nasdaq: STEP) has successfully completed its acquisition of Greenspring Associates, adding approximately $9.5 billion in fee-earning assets and nearly $19 billion in total assets under management. This acquisition, finalised ahead of schedule, enhances StepStone's presence in private markets, bringing its total assets under management to over $109 billion as of June 30, 2021. The combined expertise will provide clients greater access to the global innovation economy and solidify StepStone's leadership in venture capital and growth equity.
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StepStone Group Inc. (Nasdaq: STEP) announced that Co-CEO Scott Hart and Head of Strategy Mike McCabe will present at the Barclays Global Financial Services Conference on September 14, 2021, at 2:45 PM ET. The presentation will be accessible via a live webcast on the StepStone website. As of June 30, 2021, StepStone manages $465 billion in private market allocations, including $90 billion in assets under management, providing tailored investment solutions to a diverse clientele, including major pension funds, sovereign wealth funds, and high-net-worth individuals.