Stepstone Group Inc. Stock Price, News & Analysis

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.

StepStone Group (Nasdaq: STEP) has announced that its CEO Scott Hart and Head of Strategy Mike McCabe will be presenting at the Barclays Global Financial Services Conference on Tuesday, September 10, 2024 at 2:00 pm ET. This presentation marks an important opportunity for StepStone to showcase its strategies and insights to a global audience of financial industry professionals.

Investors and interested parties can access a live webcast of the presentation through StepStone's website at https://shareholders.stepstonegroup.com. For those unable to attend the live event, a replay will also be made available on the same platform, allowing for convenient viewing at a later time. This event underscores StepStone's commitment to transparent communication with its shareholders and the broader financial community.

StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm, has reported its financial results for the first quarter of fiscal year 2025, ended June 30, 2024. The company's Board of Directors has declared a quarterly cash dividend of $0.24 per share of Class A common stock, payable on September 13, 2024, to shareholders of record as of August 30, 2024.

StepStone has made a detailed presentation of its Q1 FY2025 results available on its website. The company will host a webcast and conference call on August 8, 2024, at 5:00 pm ET to discuss the results. Interested parties can access the webcast through the Shareholders section of StepStone's website, with a replay available after the event.

StepStone Group Inc. (Nasdaq: STEP) has announced that it will release its financial results for the first quarter of fiscal year 2025, which ended on June 30, 2024, after market close on Thursday, August 8, 2024. The company will host a webcast and conference call on the same day at 5:00 pm ET to discuss the quarterly results.

Interested parties can access the webcast through the Shareholders section of StepStone's website. To participate in the live Q&A portion of the call, individuals must register in advance. A replay of the event will be available on the company's website approximately two hours after the call concludes.