Stepstone Group Inc. Stock Price, News & Analysis

StepStone Group (Nasdaq: STEP) has been recognized as one of the Best Places to Work in Money Management by Pensions & Investments for the second consecutive year in 2024. The recognition comes through a comprehensive two-part evaluation process, where workplace policies and employee experience were assessed, with the latter accounting for 80% of the total evaluation.

Rich Kasnia, Partner and Chief Human Resources Officer, emphasized the company's commitment to maintaining an inclusive, supportive, and innovative workplace culture. The award, part of P&I's 13th annual survey program, highlights StepStone's success in creating an environment that promotes employee well-being, offers attractive incentive structures, and supports talent development.

The recognition reinforces StepStone's position as a global private markets investment firm dedicated to providing customized investment solutions while prioritizing its workplace culture.

Federato, an AI-native underwriting platform for insurance, has secured $80 million in funding, including a $40 million Series C round led by StepStone Group. The company's RiskOps platform helps insurers tackle challenges like climate change and cyber crime, delivering significant improvements including 90% faster quote times and 3x increase in good business bound. QBE North America and Velocity Risk have reported substantial operational improvements using Federato's platform. The funding will support global expansion into UK, Europe, LATAM, and APAC markets.

StepStone Group (Nasdaq: STEP), a global private markets investment firm, announced its second quarter fiscal 2025 results for the period ending September 30, 2024. The Board of Directors declared a quarterly cash dividend of $0.24 per share of Class A common stock, payable on December 13, 2024, to holders of record as of November 29, 2024.

StepStone will host a webcast and earnings conference call on November 7, 2024, at 5:00 pm ET to discuss the results. The webcast will be available on the Company's website, and a replay will be accessible approximately two hours post-event. Interested participants can register to join the live Q&A session.

StepStone Group (Nasdaq: STEP) has announced it will release its second quarter fiscal 2025 results on November 7, 2024, after market close. The results will cover the quarter ended September 30, 2024. Management will host a webcast and conference call at 5:00 pm ET on the same day to discuss the quarterly results. Interested parties can access the webcast through the company's shareholders website, and those wishing to participate in the Q&A session must register separately through the provided link.

StepStone Private Wealth (SPW) has announced two key hires to support its growth. Berta Aldrich joins as Managing Director and Global Head of Private Wealth Marketing, while David Robbins becomes Director of Enterprise RIA Relationship Management.

SPW, now managing over $5 billion for individual investors and small institutions, aims to expand its global brand recognition. Aldrich, named to the InvestmentNews Hot List in 2023, brings over 30 years of experience from leading financial services companies. Robbins, previously at Neuberger Berman, will lead education, onboarding, and servicing of the largest U.S. RIA firms.

Bob Long, Partner and CEO of SPW, expressed excitement about the new executives, while Neil Menard, Partner and President of Distribution, emphasized the company's reputation for delivering private solutions designed for end investors.

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.