StepStone Private Wealth Solutions Launches StepStone Private Equity Strategies Fund

Rhea-AI Summary

StepStone Group (Nasdaq: STEP) launched the StepStone Private Equity Strategies Fund (STPEX), an evergreen interval fund focused on private equity via secondaries and co-investments, now available to buy via ticker. The Fund launched in September and has attracted more than $750 million at inception. STPEX accepts U.S. investors with a $5,000 minimum, no accreditation requirement, daily valuation, and semi-annual repurchases currently intended at 5% of NAV. STPEX will be managed alongside institutional mandates by StepStone’s global private equity team.

Positive

• $750M+ raised at launch
• Available to buy via ticker on major platforms
• $5,000 minimum and no accreditation required
• Semi-annual repurchases currently intended at 5% of NAV

Negative

• Newly formed fund with no operating history
• Fund shares are illiquid and speculative; total loss possible
• Repurchase offers may be oversubscribed, limiting redemptions
• May hold significant cash for unfunded commitments, which can reduce performance

• StepStone’s latest evergreen investment vehicle attracts more than $750 million at inception 
• One of the first-of-its-kind pure-play private equity vehicles available to purchase via ticker
• Newest offering complements SPWS’s suite of private markets products
  

NEW YORK, Nov. 13, 2025 (GLOBE NEWSWIRE) -- StepStone Group (Nasdaq: STEP), a leading global private markets investment firm, today announced the successful launch of StepStone Private Equity Strategies Fund (“STPEX” or the “Fund”), an evergreen interval fund that invests in private equity assets managed by historically top-tier sponsors identified by StepStone. The Fund launched in September, raising more than $750 million to date. It is now available on all major custodian platforms via purchase by a ticker.    

“We are grateful for the strong engagement and support from this initial cohort of STPEX investors and look forward to welcoming more,” said Scott Hart, CEO of StepStone Group and leader of the firm’s global private equity activities. “As we continue to scale the Fund and deploy more capital, we remain focused on making investments of the highest quality as we receive inflows from investors. Similar to our other evergreen products, STPEX has access to StepStone’s highly sophisticated deal sourcing engine while the investment team seeks to construct a portfolio that is diversified by industry, manager, and vintage.”

The Fund offers individual investors, financial advisors and institutions exposure to a portfolio of diversified private market investments across buyout and growth equity mainly through secondary purchases and co-investments. The objective of the Fund is to achieve long-term capital appreciation.

Bob Long, CEO of StepStone Private Wealth Solutions, emphasized: “Consistent with StepStone’s history and approach to private wealth, we launched STPEX after listening carefully to our partners’ feedback and creating a solution seeking to match their objectives. In this case, our partners in the wealth management channel sought to access a private equity-focused strategy through an evergreen structure – with low minimums and daily valuation. We believe that we have delivered that with STPEX, bolstering our track record of industry innovation and expanding access to a broader group of investors.”

STPEX’s capital is being invested alongside StepStone’s institutional clients by the firm’s global private equity team of more than 190 investment professionals, which was responsible for $389 billion of capital as of September 30, 2025.

As an evergreen fund, STPEX raises capital daily while providing a level of liquidity through semi-annual redemptions which are currently expected to be up to 5% of the Fund’s net asset value. There are no ongoing capital calls, and tax reporting will be provided via a Form 1099 rather than a Schedule K-1. STPEX is available to investors in the United States with a minimum investment of $5,000 through a range of share classes created for various wealth management platforms, and the Fund does not have any investor accreditation requirements. STPEX is available through mutual fund platforms via a ticker and otherwise purchased via subscription agreements for fiduciaries that prefer them.

This new solution complements the existing suite of offerings across StepStone Private Wealth Solutions platform, including StepStone Private Markets (“SPRIM”) — a core private markets fund; StepStone Private Venture and Growth Fund (“SPRING”) — focused on venture capital; StepStone Private Infrastructure Fund (“STRUCTURE”) — focused on infrastructure; and StepStone Private Credit Income Fund (“CRDEX”) — focused on credit.

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 September 30, 2025, StepStone was responsible for approximately $771 billion of total capital, including $209 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

Media:

Brian Ruby / Chris Gillick / Matt Lettiero, ICR

StepStonePR@icrinc.com

1-203-682-8268

Important Information

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained from StepStone Private Wealth at 704.215.4300. An investor should read the prospectus carefully before investing. Investors should also review the material available on stepstonepw.com with respect to StepStone Private Equity Strategies.

As a fundamental policy, STPEX will make semi-annual offers to repurchase between 5% and 25% of its outstanding Shares at NAV. In connection with any given semi-annual repurchase offer, the Fund currently intends to repurchase 5% of its outstanding Shares. It is also possible that a repurchase offer may be oversubscribed, with the result that Shareholders may only be able to have a portion of their Shares repurchased.

An investment in the Fund involves risks. The Fund should be considered a speculative investment that entails substantial risks, and a prospective investor should invest in the Fund only if it can sustain a complete loss of its investment. Fund fees and expenses may offset trading profits. Fund shares are illiquid and appropriate only as a long-term investment. There is no market exchange available for shares of the Fund thereby making them difficult to liquidate. Use of leverage may increase the Fund’s volatility. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Investments may consist of loans to small and/or less well-established privately held companies that have reduced access to the capital markets, resulting in diminished capital resources and the ability to withstand financial distress. Please see the prospectus for details of these and other risks.

The Fund's investments in private equity assets involve a high degree of business and financial risk that can result in substantial losses and are subject to additional risks related to illiquidity, indirect fees, valuation, limited operating histories, and limited information regarding underlying investments. Shareholders will bear substantial direct and indirect fees and expenses in connection with their investment. In connection with the Fund’s investments in private equity assets, the Fund may hold a significant portion of its assets in cash and cash equivalents in support of unfunded commitments which may have a negative effect on overall performance. The risks of investing in venture capital and growth equity companies are generally greater than the risks of investing in public companies that may be at a later stage of development.

Past performance does not guarantee future results. Diversification does not ensure a profit or protect against loss in a declining market.

The Fund is distributed by Distribution Services, LLC which is not affiliated with StepStone Group Private Wealth.

STPEX is a newly formed investment company with no operating history.

FAQ

What is StepStone Private Equity Strategies Fund (STPEX) and ticker for STEP investors?

STPEX is an evergreen interval private equity fund launched by StepStone Group and is available to purchase via a ticker on major custodian platforms.

How much capital did STPEX raise at inception and when did it launch?

STPEX launched in September 2025 and raised more than $750 million to date.

What liquidity options does STPEX offer for STEP shareholders?

The Fund provides semi-annual repurchase offers currently intended at up to 5% of NAV per offer; offers may be oversubscribed.

What is the minimum investment and investor eligibility for STPEX (STEP)?

U.S. investors can access STPEX with a minimum investment of $5,000 and the Fund has no investor accreditation requirements.

Will STPEX use StepStone’s institutional team and how large is that team?

STPEX’s capital is being invested alongside institutional clients by StepStone’s global private equity team of more than 190 investment professionals.

What are the key risks for investors considering STPEX (STEP)?

STPEX is newly formed and speculative; shares are illiquid, can incur substantial fees, may hold cash for unfunded commitments, and investors can lose their entire investment.