Stepstone Group Inc. Stock Price, News & Analysis

StepStone Group has successfully closed a secondary offering of 9,200,000 shares of its Class A common stock, including 1,200,000 additional shares purchased by underwriters, at a price of $29.50 per share. With this closure, 38,437,500 shares of StepStone’s Class A common stock are now outstanding. The offering was managed by J.P. Morgan, Goldman Sachs, and Morgan Stanley. This announcement follows the effective registration statement by the U.S. Securities and Exchange Commission for these securities.

StepStone Group announced a secondary offering of 8,000,000 shares of its Class A common stock at a price of $29.50 per share, with an additional 1,200,000 shares available through an underwriters' option. The Selling Stockholders will receive all proceeds from the Offering, while StepStone will not partake or gain any earnings. The Offering is set to close on March 23, 2021. J.P. Morgan, Goldman Sachs, and Morgan Stanley are the joint book-running managers. As of December 31, 2020, StepStone managed approximately $333 billion in private markets allocations.

StepStone Group announced a secondary offering of 8,000,000 shares of its Class A common stock by certain stockholders. An additional 1,200,000 shares may be purchased by underwriters within 30 days. Importantly, StepStone will not benefit financially from this offering as the Selling Stockholders will receive all net proceeds. J.P. Morgan, Goldman Sachs & Co., and Morgan Stanley are managing the offering. A registration statement has been filed but is not yet effective, and the offering is subject to specific regulatory laws.

StepStone Group Inc. (Nasdaq: STEP) reported its financial results for the third fiscal quarter ending December 31, 2020. As of this date, the firm managed approximately $333 billion in private markets allocations, including $80 billion in assets under management. Following its IPO on September 18, 2020, StepStone emphasizes its commitment to providing tailored investment solutions and advisory services. A detailed presentation of Q3 results and a follow-up conference call are scheduled for February 9, 2021.

StepStone Real Estate has appointed a new senior management team to enhance operational efficiency. Josh Cleveland, Kieran Farrelly, Brendan MacDonald, and John Waters will oversee specific functional areas, ensuring high standards for investors and clients. The firm’s special situations secondaries fund surpassed target commitments by 40% in September 2020, and advisor services are expanding with the addition of Margaret McKnight as Partner. StepStone Group manages $313 billion in private markets allocations, including $104 billion in real estate.

StepStone Group (Nasdaq: STEP) announces the appointment of 10 new partners and 10 managing directors as of February 3, 2021. The new partners have significantly contributed to the firm's growth, with Scott Hart highlighting their pivotal roles in innovation and success. StepStone oversees $313 billion in private markets allocations, with $72 billion in assets under management, serving a diverse clientele, including pension funds and family offices. The firm focuses on tailored investment solutions across various asset classes, including private equity and real estate.

StepStone Group Inc. (Nasdaq: STEP) is set to release its third-quarter results for the fiscal year ending March 31, 2021, after market close on February 9, 2021. A webcast and conference call will take place that same day at 5:00 PM ET to discuss the results. The call will be accessible via the company's website and through dial-in options for both U.S. and international participants. StepStone oversees $313 billion in private markets allocations, with $72 billion in assets under management, serving a diverse client base including major pension funds and family offices.

L Catterton and CCMP Capital announced a definitive agreement to acquire a controlling interest in Truck Hero, a leader in aftermarket accessories for pickup trucks and Jeep vehicles. The consortium includes Abu Dhabi Investment Authority, Mubadala Investment Company, and StepStone Group (Nasdaq: STEP). Truck Hero, founded in 2007, is recognized for its innovative product offerings and strong customer relationships, with a thriving online marketplace at RealTruck.com. The deal is anticipated to close in Q1 2021, pending customary conditions.

StepStone Real Estate has appointed Margaret McKnight as a Partner, focusing on advisory, secondaries, and co-investment practices, based in San Francisco. McKnight previously served as Co-Chief Investment Officer at Carlyle, and was instrumental at both Cambridge Associates and JP Morgan. Jeff Giller, Head of StepStone Real Estate, highlighted her experience as a critical addition to their leadership team, emphasizing the firm’s commitment to exceptional client service. StepStone oversees $313 billion in private markets allocations, including $104 billion in real estate, and aims to tailor investment solutions for clients.