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. (Nasdaq: STEP) is a global private markets investment firm in the portfolio management industry, and its news flow reflects its activities across private equity, infrastructure, private debt and real estate. This page aggregates news and press releases related to StepStone, giving readers a single place to review the company’s latest announcements and market updates.
According to its public communications, StepStone focuses on customized private markets investment solutions, advisory mandates and data services for institutional and private wealth clients. News items often highlight new partnerships, such as collaborations with Aviva to support UK pension strategies or with FTSE Russell to launch the FTSE StepStone Global Private Market Indices using StepStone’s proprietary fund-level data.
Readers can expect coverage of earnings announcements and financial results, including quarterly updates where StepStone reports management and advisory fees, performance fees, assets under management, assets under advisement and related non-GAAP metrics. Regulatory filings and governance developments, such as amendments to the company’s certificate of incorporation or outcomes of annual shareholder meetings, also appear in company news and associated SEC reports.
In addition, StepStone’s news includes business expansion and transaction activity. Examples include the opening of new offices in Madrid and Riyadh, the growth of StepStone Real Estate Partners V, and real estate transactions like the planned recapitalization of Vitalia in Spain. Updates on evergreen private markets funds available through distribution partners and developments in StepStone Private Wealth Solutions also feature in its communications.
Investors and observers who follow STEP news can use this page to monitor how StepStone is evolving its global footprint, product offerings and partnerships in private markets. Regularly reviewing the news feed can help contextualize the firm’s strategic direction and its role within the broader private markets and portfolio management landscape.
StepStone Group Inc. (Nasdaq: STEP) reported its second fiscal quarter results for the period ended September 30, 2020. The company completed an initial public offering on September 18, 2020, and managed $313 billion in private market allocations, including $72 billion in assets under management. Co-CEO Scott Hart expressed excitement over their strong performance and commitment to providing customized investment solutions, leveraging proprietary data and technology for a competitive edge. A webcast to discuss these results is scheduled for November 10, 2020.
StepStone Group Inc. (Nasdaq: STEP) announced the release of its second-quarter results for the fiscal year ending March 31, 2021, scheduled for November 10, 2020, after market close. A management webcast and conference call will follow at 5:00 pm ET the same day, accessible via their shareholders' website. As of June 30, 2020, StepStone managed $292 billion in private markets allocations, with $66 billion in assets under management, serving a diverse range of clients including pension funds and family offices.
Conversus has launched its inaugural fund, Conversus StepStone Private Markets (CPRIM), raising $35 million as of October 1, 2020. This fund targets accredited investors, offering diversified access to private equity, private debt, and real assets. CPRIM features an evergreen structure, enabling monthly capital raises and quarterly liquidity. Investors can engage with a minimum investment of $50,000, benefiting from transparent tax reporting and regular distributions. StepStone Group, overseeing $292 billion in private markets, acts as sub-adviser, aligning its investments with institutional clients.
StepStone Real Estate announced the final closing of StepStone Real Estate Partners IV (SREP IV), raising $1.4 billion, exceeding its $1 billion target. Notably, $870 million was committed post-COVID-19 onset. SREP IV is double the size of its predecessor, SREP III, which closed at $700 million in February 2017. The fund attracts a diverse global investor base including sovereign wealth funds and pension funds. The strategy focuses on special situations secondaries and recapitalizations, aiming to leverage opportunities arising from the pandemic, similar to approaches during the 2008 financial crisis.
StepStone Group has successfully closed its initial public offering (IPO), selling 20,125,000 shares of Class A common stock at $18.00 each, which includes the full exercise of underwriters' options for an additional 2,625,000 shares. Trading commenced on Nasdaq on September 16, 2020, under the ticker symbol 'STEP.' This IPO was managed by J.P. Morgan, Goldman Sachs, and Morgan Stanley, among others. The firm specializes in private markets investment solutions, catering to a diverse clientele including pension funds and wealthy individuals.
StepStone Group announced the pricing of its initial public offering (IPO) of 17,500,000 shares of Class A common stock at $18.00 per share. Trading is set to commence on the Nasdaq under the ticker symbol STEP on September 16, 2020. There is also a 30-day option for underwriters to purchase an additional 2,625,000 shares. The IPO is scheduled to close around September 18, 2020, pending customary closing conditions. J.P. Morgan, Goldman Sachs, and Morgan Stanley are joint book-running managers for the offering.