Stepstone Group Inc. Stock Price, News & Analysis

StepStone Group Inc. (Nasdaq: STEP) reported its fiscal Q1 results for the period ending June 30, 2022. The firm, which manages approximately $588 billion across private markets, declared a quarterly cash dividend of $0.20 per share, payable on September 15, 2022. As of the reporting date, it held about $137 billion in assets under management. The company caters to major pension funds, sovereign wealth funds, and high-net-worth individuals, providing tailored investment solutions and advisory services.

ACRE has secured a $300 million capital commitment from StepStone Group, marking a significant partnership. This commitment involves recapitalization of a 1500-unit portfolio and focuses on multifamily investments across the Sun Belt, Midwest, and Texas. ACRE's managing partner highlighted the importance of this achievement in attracting major institutional investors. With over $3.5 billion in assets under management, ACRE has invested in over 22,000 units across various markets since its founding in 2011.

StepStone Group announced that Mike McCabe, Head of Strategy, will present at the UBS Financial Services Conference on August 9, 2022, at 9:30 am ET. A live webcast of the presentation will be available on the StepStone website. As of March 31, 2022, StepStone manages $570 billion in private markets allocations, with $134 billion in assets under management. The firm offers tailored investment solutions across various asset classes, including private equity, infrastructure, private debt, and real estate, catering to a diverse clientele.

StepStone Group Inc. (Nasdaq: STEP) will announce its first-quarter results for the fiscal year ending March 31, 2023, on August 4, 2022, post-market. A conference call will follow at 5:00 pm ET to discuss these results. StepStone manages approximately $570 billion of private markets allocations, including $134 billion in assets under management. The firm provides tailored investment solutions and advisory services to a diverse client base, including pension funds and high-net-worth individuals.

RedBird Capital Partners and StepStone Group (NASDAQ: STEP) have entered into an agreement to acquire a majority stake in Talent Systems, a leading casting software and talent marketplace in the entertainment industry. Talent Systems, founded by Rafi Gordon and Alex Amin, managed over 50,000 projects and 2 million auditions in 2021. The acquisition aims to enhance Talent Systems' platform, supported by brands like Casting Networks and eTribez. Financial terms of the deal remain undisclosed. RedBird's expertise is expected to drive substantial growth in the current content creation landscape.

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.