Stepstone Group Inc. - STEP STOCK NEWS

StepStone Group Inc. (NASDAQ: STEP) has successfully closed its StepStone Senior Corporate Lending II (SCL II) fund, securing $1.3 billion, exceeding the $1 billion target. The fund focuses on senior secured, first-lien corporate loans from a post-COVID-19 market, emphasizing diversified investments across geographies and managers. With strong investor support, the fund aims to leverage StepStone's private debt platform for efficient access to top-tier managers and opportunistic investments, potentially generating strong risk-adjusted returns in any interest rate environment.

Conversus, an investment platform, has surpassed $500 million in assets under management (AUM) in its inaugural fund, Conversus StepStone Private Markets (CPRIM), within 18 months of launching in October 2020. The fund achieved a net asset growth of 70.5% since inception, with strong portfolio performance across over 750 diversified companies. To support this growth, Conversus appointed Celine El Debs and Brett Schlemovitz as senior distribution leaders in the US and Europe. The firm continues to target significant opportunities in the private markets for accredited investors.

StepStone Group (Nasdaq: STEP) announced the successful structuring of a USD 102.5 million public offering of securitized loans on Mexico’s BIVA stock exchange on February 18, 2022. The securities, priced at USD 105 each, are rated triple-A and offer a coupon of Libor + 2.25% paid semiannually. This represents Mexico's first securitization of loans to North American companies, with plans for additional offerings over the next 18 months. Proceeds will support a diversified portfolio of 80 to 100 senior secured loans primarily to medium-sized U.S. companies.

Bridge Investment Group Holdings Inc. (NYSE: BRDG) has unveiled a $75 million program aimed at acquiring, developing, and managing needs-based senior housing assets in the United States. This initiative is in collaboration with StepStone Real Estate, which has also invested in a current portfolio managed by Bridge. The partnership seeks to expand Bridge's strategy in the seniors housing sector, leveraging StepStone's investment capabilities. As of September 30, 2021, Bridge manages approximately $31.8 billion in assets.

StepStone Group Inc. (Nasdaq: STEP) has appointed 5 new partners and 12 new managing directors, enhancing its leadership structure. CEO Scott Hart highlighted the contributions of the new leaders, emphasizing their expertise will support the firm's growth across all sectors. StepStone oversees approximately $548 billion in private markets allocations, with $127 billion in assets under management, serving major pension funds, sovereign wealth funds, and high-net-worth clients. The firm's focus remains on tailored investment solutions across private equity, infrastructure, private debt, and real estate.

StepStone Group Inc. (Nasdaq: STEP) has announced its financial results for the third quarter of the fiscal year ending March 31, 2022. The company reported overseeing approximately $548 billion in private markets allocations, including $127 billion in assets under management as of December 31, 2021. Additionally, the Board declared a quarterly cash dividend of $0.15 per share of Class A common stock, payable on March 15, 2022. A detailed presentation of these results is available through their official website.

StepStone Group Inc. (Nasdaq: STEP) will release its third-quarter results for the fiscal year ending March 31, 2022, on February 8, 2022, after market close. Following this, a conference call will be held that same day at 5:00 pm ET to discuss the results, which will also be available on the company’s website. As of September 30, 2021, the firm managed approximately $519 billion in private markets allocations, including $121 billion in assets under management, serving diverse clients like pension funds and high-net-worth individuals.

StepStone Group announced the pricing of a secondary offering of 4,500,000 shares of its Class A common stock at $52.35 per share. The offering is led by certain selling stockholders, who will receive all net proceeds, while StepStone will not gain from this sale. Underwriters have a 30-day option to purchase an additional 675,000 shares. The offering is anticipated to close on November 18, 2021. Morgan Stanley, Goldman Sachs, and J.P. Morgan are acting as joint book-running managers. This announcement follows StepStone's oversight of approximately $519 billion in private markets as of September 30, 2021.

StepStone Group announced that certain stockholders plan to sell 4,500,000 shares of Class A common stock in an underwritten secondary offering. The Selling Stockholders may also grant underwriters a 30-day option for an additional 675,000 shares. Notably, StepStone will not receive any proceeds from this offering. The offering is managed by Morgan Stanley, Goldman Sachs, and J.P. Morgan. StepStone oversees approximately $519 billion in private market allocations, with $121 billion in assets under management, serving major pension funds and institutions.