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.
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.
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.