StepStone Group Opens Office in Riyadh

Rhea-AI Summary

StepStone Group (NASDAQ: STEP) announced on October 23, 2025 that it has opened a new office in Riyadh, Saudi Arabia.

The firm said it received a license from the Capital Market Authority (CMA), marking StepStone’s first physical location in the Middle East and its 31st office across 19 countries. StepStone said the Riyadh office aims to deepen client relationships in the Kingdom, expand access to private market opportunities, and support Saudi Arabia’s Vision 2030.

Positive

• CMA license obtained to operate in Riyadh
• First Middle East office, expanding geographic footprint
• Now operates 31 offices across 19 countries

Negative

• None.

• Deepens Relationship with Longstanding Clients in the Kingdom
• Establishes Formal Presence in the Middle East

RIYADH, Saudi Arabia and NEW YORK, Oct. 23, 2025 (GLOBE NEWSWIRE) -- StepStone Group (NASDAQ: STEP), a global private markets investment firm, today announced that it has opened a new office in Riyadh. The office reaffirms StepStone’s continued commitment to clients in the Kingdom of Saudi Arabia.

Having received its license from the Capital Market Authority (CMA), StepStone's physical presence in Riyadh will deepen its relationships with investors, expand access to high-quality private market opportunities, and help accelerate economic diversification in the Kingdom. This decision also reflects StepStone’s support for the Kingdom of Saudi Arabia’s Vision 2030 and its role as a global investment destination and source of capital.

“The Kingdom of Saudi Arabia is experiencing an unprecedented economic renaissance. Having built trusted relationships within the Kingdom for more than a decade, our new office will foster a closer collaboration with our clients as well as the broader region,” said Mike McCabe, Partner & Head of Strategy at StepStone. “Importantly, our presence in Riyadh reinforces StepStone's commitment to engage with local market opportunities while delivering excellent client service.”

The Riyadh office, StepStone’s first physical location in the Middle East, builds on StepStone’s long-term partnerships across the region. Establishing a formal presence in the Kingdom reflects StepStone’s focus on enduring relationships with its institutional partners and commitment to being the trusted partner of choice for private markets solutions, globally.

StepStone now operates 31 offices across 19 countries.

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 June 30, 2025, StepStone was responsible for approximately $723 billion of total capital, including $199 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.

For more information, visit StepStone Group.

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

When did StepStone (STEP) open its Riyadh office and receive the CMA license?

StepStone opened the Riyadh office and said it received the Capital Market Authority license on October 23, 2025.

How many offices does StepStone (STEP) operate after opening the Riyadh location?

StepStone operates 31 offices across 19 countries following the Riyadh opening.

What does the Riyadh office mean for StepStone (STEP) investors?

The company says the office will deepen local client relationships and expand access to private market opportunities in the Kingdom.

Is StepStone's Riyadh office its first physical presence in the Middle East (STEP)?

Yes, StepStone described the Riyadh office as its first physical location in the Middle East.

Does the Riyadh office relate to Saudi Vision 2030 for StepStone (STEP)?

StepStone said the Riyadh presence reflects support for Saudi Arabia’s Vision 2030 and the Kingdom’s role as a global investment destination.