StepStone Group Opens New Office in Ireland

Rhea-AI Summary

StepStone Group (STEP) has announced the opening of its new office in Dublin, Ireland, through its subsidiary StepStone Group Europe Alternative Investment Limited (SGEAIL). The 12,000 square foot facility at One Haddington Buildings represents an expansion of the company's presence in Ireland, where it has operated since 2005. SGEAIL, regulated by the Central Bank of Ireland, has seen significant growth with AUM increasing from €20.6 billion in December 2022 to €29.1 billion as of December 2024. The Dublin office now employs 110 people, representing 10% of StepStone's global workforce, having doubled its headcount since 2021. The expansion supports the firm's growing EU-based institutional and private wealth client base, with recent initiatives including the launch of its first ELTIF focused on private debt and the conversion of RAIF funds into UCI Part II vehicles.

Positive

• AUM growth from €20.6B to €29.1B between Dec 2022 and Dec 2024
• Employee headcount doubled since 2021 to 110 staff in Dublin
• Strategic expansion supporting growing EU client base and private wealth market

Negative

• None.

News Market Reaction

-3.75%

1 alert

-3.75% News Effect

On the day this news was published, STEP declined 3.75%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

NEW YORK, May 21, 2025 (GLOBE NEWSWIRE) -- StepStone Group (Nasdaq: STEP), a global private markets solutions provider, today announced the opening of the new Ireland office at One Haddington Buildings, Dublin 4, of its subsidiary StepStone Group Europe Alternative Investment Limited (“SGEAIL”), an alternative investment fund manager regulated by the Central Bank of Ireland.

Having operated in Dublin since 2005 through a predecessor firm, SGEAIL enables EU-based clients to access private market investment solutions in private debt, private equity, real estate, and infrastructure and real assets. SGEAIL oversees €29.1 billion in AUM as of December 31, 2024, a significant increase from €20.6 billion in December 2022.​

“Our growth in Ireland reflects the increasing demand for private market solutions globally, and especially among EU-based institutional and private wealth clients,” said David Allen, Partner and CEO of SGEAIL. “Our expanded space demonstrates our commitment to investing in the local economy and talent pool to meet this demand.”

Since 2021, the number of people working in StepStone’s Dublin office has doubled and now numbers 110 employees, approximately 10% of the firm’s global workforce. The new 12,000 square foot office allows the firm to continue to invest in talent to support the global client footprint, while providing the team with a modern workspace that was designed with teamwork, brand pride, wellness and sustainability in mind. 

“StepStone Group's expansion in Dublin is a welcome development for our financial services sector, and highlights Ireland's position as a leading destination for global investment firms seeking to access the European market. I would like to congratulate the team at StepStone Group and wish them luck in this exciting new phase of their journey,” said Peter Burke, Minister for Enterprise, Tourism and Employment.

Michael Lohan, CEO of IDA Ireland, the agency responsible for attracting and retaining foreign direct investment into Ireland, said “StepStone’s announcement further underscores Ireland’s position as a leading location for global firms in the financial services sector. The combination of deep industry expertise, a strong pipeline of talent, and a stable, pro-business environment continues to attract companies looking for a strategic entry point to the EU and access to wider global markets. I want to wish StepStone every success and to assure them of our continued support and partnership as they expand their footprint in Ireland.”

In addition to managing EU-domiciled commingled funds and separate accounts for institutional clients, SGEAIL has in recent years served as a hub for StepStone’s expansion into the European private wealth market. Earlier this year, StepStone launched its first ELTIF focused on the private debt market and converted its existing RAIF funds into UCI Part II vehicles.

Savills Dublin served as StepStone’s tenant representative for the new office, and Calibro Workspace completed the space’s interior design and fitout.

About StepStone

StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of December 31, 2024, StepStone was responsible for approximately $698 billion of total capital, including $179 billion of assets under management. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.

About IDA Ireland

IDA Ireland is the country's inward investment promotion agency, responsible for attracting and developing foreign investment in Ireland. With a proven track record of facilitating international companies, IDA Ireland offers a range of services to support businesses in establishing and expanding operations on the island. Our expert team works closely with companies across various industries, including technology, pharmaceuticals, financial services, and more, providing tailor-made solutions to meet their needs.

As a gateway to Europe, Ireland offers a competitive corporate tax rate, a young and highly skilled workforce, and a robust business environment, making it an ideal location for global companies looking to innovate and grow. Headquartered in Dublin, with a network of offices worldwide, IDA Ireland is committed to driving economic growth and job creation by fostering a vibrant and sustainable business ecosystem. For more information, visit www.idaireland.com or follow us on Twitter @IDAIRELAND.

StepStone Contacts:

Shareholder Relations:
Seth Weiss
shareholders@stepstonegroup.com
+1 (212) 351-6106

Media:
Brian Ruby / Chris Gillick / Matt Lettiero
ICR
StepStonePR@icrinc.com
+1 (203) 682-8268

IDA Ireland Contact:
Rachel Bermingham
Rachel.bermingham@ida.ie
+353 087 437 6158

Photos accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/ede6977b-e55f-436f-bd99-0846b67c4dc2

https://www.globenewswire.com/NewsRoom/AttachmentNg/a1446217-fe4f-4fd4-84f9-f55ff19333f2

FAQ

What is StepStone Group's (STEP) AUM in Ireland as of December 2024?

StepStone Group's subsidiary SGEAIL in Ireland manages €29.1 billion in AUM as of December 31, 2024.

How many employees does StepStone Group (STEP) have in its Dublin office?

StepStone Group has 110 employees in its Dublin office, representing approximately 10% of the firm's global workforce.

When did StepStone Group (STEP) begin operations in Ireland?

StepStone Group has been operating in Dublin since 2005 through a predecessor firm.

What is the size of StepStone Group's (STEP) new Dublin office?

StepStone Group's new office in Dublin is 12,000 square feet, located at One Haddington Buildings, Dublin 4.

What recent product developments has StepStone Group (STEP) launched in Europe?

StepStone Group recently launched its first ELTIF focused on the private debt market and converted its existing RAIF funds into UCI Part II vehicles.