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StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm that specializes in creating customized investment solutions and providing advisory, data, and administrative services. With approximately $659 billion in total capital responsibility as of September 30, 2023, including $146 billion in assets under management, the firm partners with the world's most sophisticated investors. StepStone crafts portfolios tailored to meet specific investment objectives across private equity, infrastructure, private debt, and real estate asset classes.
Founded on a highly disciplined, research-focused approach, StepStone integrates primary investments, secondary market opportunities, and co-investments to construct its client portfolios. The firm's clientele includes public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations, family offices, and private wealth clients.
One of StepStone's significant offerings is SPI by StepStone, a leading technology solution that unifies the firm’s extensive research, data, and private markets tools into a single web-based platform. This platform provides critical insights across various asset classes and geographies, aiding investors in making well-informed decisions. The platform includes tools for manager research, performance reporting, portfolio exposures, commitment pacing, and benchmarking.
StepStone maintains a robust financial condition, supported by strong fee-related earnings and a disciplined approach to managing client assets. The company uses advanced data analytics and proprietary databases to enhance its decision-making processes. Recent achievements include expanding SPI by StepStone and celebrating the promotion of senior leaders dedicated to client success and operational excellence.
For more information, visit StepStone Group Inc. or access the SPI platform at SPI by StepStone.
StepStone Group Inc. has launched the CPRIM Lux fund aimed at high-net-worth individuals and smaller institutions in Europe. This new investment solution enhances access to private markets with exposure to private equity, real assets, and private debt. The fund, part of a broader strategy, aims to achieve diversification and seeks to replicate the success of its US counterpart, which has seen a strong 78% total return since inception. CPRIM Lux will have its first closing in fall 2022 and mandates a minimum investment of USD 50,000.
Blue Vista Capital Management and StepStone Real Estate announced a $90 million co-investment partnership focused on purpose-built student housing. The initial project is Theory Interlock at Georgia Tech, featuring 671 beds and planned amenities such as a rooftop pool and fitness center. Construction is expected to finish in Summer 2023. This project highlights Blue Vista's strategy of developing modern housing near top-tier universities, reflecting a growing demand among students for quality accommodations.
Multiverse has successfully closed a $220 million Series D funding round, achieving a post-money valuation of $1.7 billion, doubling its value within eight months. Co-led by StepStone Group, the funding will support US expansion and broaden learning programs to help close workforce digital skills gaps. The company has seen a 260% growth in software engineering enrollment and currently trains apprentices with over 500 organizations globally. Additionally, Professor Youngme Moon has joined the Board of Directors, bringing extensive experience in business and EdTech.
StepStone Real Estate (SRE), a segment of StepStone Group (Nasdaq: STEP), has been awarded the 2022 IPE Real Estate Global Award for Investment Consultancy of the Year. The announcement was made at a ceremony on May 19, 2022, in Amsterdam. This accolade reflects SRE's commitment to advising institutional clients with innovative real estate investment solutions, showcasing case studies that highlight its expertise in structuring and ESG evaluations. With $160 billion in assets under management, SRE approved around $17 billion in primary fund commitments to over 70 real estate funds in 2021.
StepStone Group Inc. (Nasdaq: STEP) has announced that CEO Scott Hart and Head of Strategy Mike McCabe will present at the Morgan Stanley US Financials, Payments and CRE Conference on June 14, 2022, at 8:00 am ET. A live webcast will be available on the StepStone website. As of March 31, 2022, StepStone oversees $570 billion in private markets allocations, including $134 billion in assets under management, serving a diverse clientele including pension funds, sovereign wealth funds, and high-net-worth individuals.
StepStone Group announced its financial results for the fourth quarter and fiscal year ending March 31, 2022. The company reported overseeing $570 billion in private markets allocations, with $134 billion in assets under management. A quarterly cash dividend of $0.20 per share for Class A common stock was declared, payable on June 30, 2022. Additionally, the firm will host a conference call on May 26, 2022, at 5:00 PM ET to discuss these results. StepStone offers customized investment solutions and services to a diverse client base, including pension funds and insurance companies.
IPI Partners has announced the acquisition of a majority stake in Safe Host, a leading Swiss data center operator, from its founders and StepStone Real Estate. This strategic move aims to bolster IPI's STACK Infrastructure platform, enhancing its presence in Switzerland and Europe. Safe Host operates four data centers in Geneva and Zurich, with additional land holdings in prime European markets. The acquisition is expected to provide expanded scale and client service capabilities, particularly for hyperscale and enterprise clients. Financial terms remain undisclosed.
StepStone Real Estate has appointed Margaret McKnight as Head of Portfolio Solutions and Sara Rutledge as Managing Director and Head of Market Research. McKnight, who joined in 2020, will focus on portfolio design aiming to meet risk and return objectives for clients. Rutledge, bringing extensive market research experience, will assist in producing SRE's House Views, integrating insights from a large investment team. The changes come amid evolving real estate utilization post-pandemic, highlighting the importance of a dedicated portfolio solutions team.
StepStone Group (Nasdaq: STEP) successfully closed its inaugural StepStone Credit Opportunities Fund I (SCOF I), securing over $600 million in commitments. The Fund aims to invest in distressed and opportunistic credit across various asset classes. With a diverse investor base, StepStone anticipates significant deal flow due to its extensive market relationships. The Fund's strategy focuses on acquiring quality assets at attractive valuations, enhancing investors' portfolios through diversified private debt exposure.
StepStone Group Inc. (Nasdaq: STEP) will release its fourth quarter and fiscal year results for the period ending March 31, 2022, on May 26, 2022, post-market close. A conference call to discuss these results is scheduled for 5:00 PM ET on the same day, available via their website. As of December 31, 2021, StepStone managed approximately $548 billion in private market allocations, including $127 billion in assets under management, serving a diverse client base including pension funds and high-net-worth individuals.
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