StepStone Group Opens Office in Jeonju, South Korea

Rhea-AI Summary

StepStone Group (STEP), a global private markets solutions provider, has opened its second South Korean office in Jeonju, North Jeolla Province. This strategic expansion follows their 2014 Seoul office establishment and strengthens their partnership with the National Pension Service (NPS), one of the world's largest institutional investors. The office opening ceremony on April 22 was attended by key leaders including NPS Chairman Kim Tae-hyun and StepStone CEO Scott Hart. The new location aims to enhance communication and collaboration with NPS, focusing on providing superior investment services and solutions. This move demonstrates StepStone's commitment to regional engagement and operational excellence in serving global institutional clients.

Positive

• Strategic expansion strengthens partnership with one of world's largest institutional investors (NPS)
• Second office in South Korea shows growing market presence and commitment to the region
• Enhanced communication and collaboration capabilities with key institutional client

Negative

• None.

News Market Reaction

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-0.98% News Effect

On the day this news was published, STEP declined 0.98%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

New office deepens partnership with the National Pension Service and strengthens presence in Korea

JEONJU, South Korea, June 04, 2025 (GLOBE NEWSWIRE) -- StepStone Group (Nasdaq: STEP), a global private markets solutions provider, has opened an office in Jeonju, North Jeolla Province, South Korea. The new office marks a continued expansion of StepStone’s long-standing relationship with the National Pension Service (NPS), one of the world’s largest institutional investors. This is StepStone’s second office in South Korea, following the establishment of its Seoul office in 2014.

“As we look to deepen our relationship with NPS, opening an office in Jeonju was a logical next step,” said JeeYoung Kim, a StepStone partner based in Seoul. “It will enhance communication and collaboration as we look to provide NPS with best-in-class service and solutions for their investment program.” The Jeonju office underscores StepStone’s ongoing commitment to regional engagement and operational excellence in service to its global institutional clients.

The opening ceremony, held on April 22, was attended by senior leadership from both organizations, including Kim Tae-hyun, Chairman of the National Pension Service, Scott Hart, CEO of StepStone Group, Jeff Giller, Head of StepStone Real Estate, and Marcel Schindler, Head of StepStone Private Debt.

“The opening of our Jeonju office reflects the strength of our partnership with NPS and our shared focus on expanding access to high-quality global investment opportunities,” said Scott Hart. “We are honored to support the important work of NPS and look forward to deepening our collaboration.”

About StepStone Group

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 March 31, 2025, StepStone was responsible for approximately $709 billion of total capital, including $189 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.

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

FAQ

Why did StepStone Group (STEP) open an office in Jeonju, South Korea?

StepStone opened the Jeonju office to deepen its partnership with the National Pension Service (NPS), enhance communication, and provide better service and investment solutions to this key institutional client.

How many offices does StepStone Group have in South Korea?

StepStone Group has two offices in South Korea - one in Seoul (opened in 2014) and the new office in Jeonju.

Who attended the STEP Jeonju office opening ceremony?

The ceremony was attended by NPS Chairman Kim Tae-hyun, StepStone CEO Scott Hart, Head of StepStone Real Estate Jeff Giller, and Head of StepStone Private Debt Marcel Schindler.

What is the significance of StepStone's Jeonju location for STEP stock?

The Jeonju location strengthens StepStone's relationship with one of the world's largest institutional investors (NPS) and demonstrates their commitment to regional engagement and operational excellence.