StepStone Group Launching ELTIF in Europe
StepStone Group (Nasdaq: STEP), managing approximately $698 billion in total capital, announced approval to launch a Private Debt-based European Long-Term Investment Fund (ELTIF). The firm plans to initially market ELTIFs in Italy, Spain, Germany, France, and the Nordic and Benelux regions, focusing on private credit assets in the European Union.
Additionally, StepStone received approval to convert their current RAIF funds into UCI Part II vehicles, enhancing access for professional and semi-professional investors to private markets. The conversion affects multiple funds including SPRIM Lux, SPRING Lux, and STRUCTURE Lux, which are available on platforms like Allfunds and FundsPlace, offering digital subscription through Goji.
StepStone Group (Nasdaq: STEP), che gestisce circa 698 miliardi di dollari in capitale totale, ha annunciato l'approvazione per lanciare un fondo di investimento a lungo termine europeo (ELTIF) basato su debito privato. L'azienda prevede di commercializzare inizialmente gli ELTIF in Italia, Spagna, Germania, Francia e nelle regioni nordiche e Benelux, concentrandosi su asset di credito privato nell'Unione Europea.
Inoltre, StepStone ha ricevuto l'approvazione per convertire i propri fondi RAIF attuali in veicoli UCI Parte II, migliorando l'accesso per investitori professionali e semi-professionali ai mercati privati. La conversione riguarda più fondi, tra cui SPRIM Lux, SPRING Lux e STRUCTURE Lux, disponibili su piattaforme come Allfunds e FundsPlace, che offrono abbonamenti digitali tramite Goji.
StepStone Group (Nasdaq: STEP), que gestiona aproximadamente 698 mil millones de dólares en capital total, anunció la aprobación para lanzar un Fondo de Inversión a Largo Plazo Europeo (ELTIF) basado en deuda privada. La empresa planea comercializar inicialmente los ELTIF en Italia, España, Alemania, Francia y las regiones nórdicas y Benelux, enfocándose en activos de crédito privado en la Unión Europea.
Además, StepStone recibió la aprobación para convertir sus fondos RAIF actuales en vehículos UCI Parte II, mejorando el acceso para inversores profesionales y semi-profesionales a los mercados privados. La conversión afecta a múltiples fondos, incluidos SPRIM Lux, SPRING Lux y STRUCTURE Lux, que están disponibles en plataformas como Allfunds y FundsPlace, ofreciendo suscripciones digitales a través de Goji.
스텝스톤 그룹 (Nasdaq: STEP)은 약 6980억 달러의 총 자본을 관리하며, 사모채 기반의 유럽 장기 투자 기금(ELTIF) 출범 승인을 발표했습니다. 이 회사는 이탈리아, 스페인, 독일, 프랑스, 북유럽 및 벨기에-네덜란드 지역에서 ELTIF를 처음으로 마케팅할 계획이며, 유럽 연합 내 사적 신용 자산에 집중할 것입니다.
또한, 스텝스톤은 현재의 RAIF 기금을 UCI 2부 차량으로 전환할 승인도 받았으며, 전문 및 준전문 투자자들이 사적 시장에 접근할 수 있도록 개선했습니다. 이 전환은 SPRIM Lux, SPRING Lux 및 STRUCTURE Lux를 포함한 여러 기금에 영향을 미치며, Allfunds 및 FundsPlace와 같은 플랫폼에서 이용 가능하며, Goji를 통해 디지털 구독을 제공합니다.
StepStone Group (Nasdaq: STEP), qui gère environ 698 milliards de dollars en capital total, a annoncé l'approbation pour lancer un Fonds d'Investissement à Long Terme Européen (ELTIF) basé sur la dette privée. L'entreprise prévoit de commercialiser initialement les ELTIF en Italie, en Espagne, en Allemagne, en France, ainsi que dans les régions nordiques et du Benelux, en se concentrant sur des actifs de crédit privé au sein de l'Union Européenne.
De plus, StepStone a reçu l'approbation pour convertir ses fonds RAIF actuels en véhicules UCI Partie II, améliorant l'accès pour les investisseurs professionnels et semi-professionnels aux marchés privés. La conversion concerne plusieurs fonds, dont SPRIM Lux, SPRING Lux et STRUCTURE Lux, qui sont disponibles sur des plateformes comme Allfunds et FundsPlace, offrant des abonnements numériques via Goji.
StepStone Group (Nasdaq: STEP), das etwa 698 Milliarden Dollar an Gesamtkapital verwaltet, gab die Genehmigung zur Einführung eines auf privatem Schulden basierenden Europäischen Langfristigen Investmentfonds (ELTIF) bekannt. Das Unternehmen plant, die ELTIFs zunächst in Italien, Spanien, Deutschland, Frankreich sowie in den nordischen und Benelux-Regionen zu vermarkten, wobei der Fokus auf privaten Kreditanlagen in der Europäischen Union liegt.
Darüber hinaus erhielt StepStone die Genehmigung, ihre aktuellen RAIF-Fonds in UCI Teil II-Fahrzeuge umzuwandeln, um den Zugang für professionelle und semi-professionelle Investoren zu privaten Märkten zu verbessern. Die Umwandlung betrifft mehrere Fonds, darunter SPRIM Lux, SPRING Lux und STRUCTURE Lux, die auf Plattformen wie Allfunds und FundsPlace verfügbar sind und digitale Abonnements über Goji anbieten.
- Manages substantial capital of $698 billion, including $65 billion in private debt
- Expansion into European private wealth market through ELTIF approval
- Geographic diversification across major European markets
- Enhanced market access through UCI Part II conversion of existing funds
- None.
Insights
StepStone's strategic expansion in Europe through ELTIF launch and fund conversions represents a calculated move to capitalize on the $2.1 trillion European private debt market. The ELTIF structure provides important advantages in the European market:
- Enhanced distribution capabilities across key markets including Italy, Spain, Germany, France, and Nordic/Benelux regions
- Regulatory compliance that enables access to both institutional and semi-professional investors
- Operational efficiency through digital platforms like Allfunds and FundsPlace
The conversion of existing funds to UCI Part II compliance is particularly strategic, as it broadens the investor base while maintaining regulatory oversight. This dual-approach strategy - launching new ELTIF products while upgrading existing fund structures - positions StepStone to capture a larger share of the European private wealth market, estimated to be worth over
The digital subscription capability through Goji platform represents a modern distribution approach that could significantly reduce operational friction and acquisition costs. This tech-enabled strategy, combined with StepStone's substantial
The market timing is opportune, as European investors are increasingly seeking private market exposure amid volatile public markets. StepStone's established track record in private debt (
StepStone has also converted existing Lux funds to UCI Part II-compliant structures
NEW YORK, Feb. 13, 2025 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP), a leading global private markets investment firm responsible for approximately
“As part of our continued expansion into the European private wealth market, this milestone marks yet another chapter in our story of delivering private markets strategies to more investors with the mission of convenience, efficiency, and transparency,” said Neil Menard, Partner and President of Distribution, StepStone Private Wealth. “With these approvals in place, we will now be able to deliver institutional-grade investments better tailored to the dynamics of European wealth platforms.”
ELTIFs are designed to channel investments in Europe that support economic growth and job creation. StepStone plans to initially market ELTIFs in Italy, Spain, Germany, France, and the Nordic and Benelux regions, focusing on investing in private credit assets in the European Union.
“We believe that this offering provides unique advantages and is very differentiated to all other solutions in the market. The Firm’s sourcing network can provide significant selectivity and diversification to investors in a market that is otherwise highly fragmented,” said Marcel Schindler, Head of StepStone Private Debt. “Both institutional and individual investors alike are seeking efficient solutions such as this one. StepStone is well positioned to meet these expectations.”
StepStone also received approval to convert their current RAIF funds into UCI Part II vehicles, allowing professional investors and semi-professional investors greater access to the private markets, including private equity, infrastructure, and real estate. Funds set to be converted include StepStone Private Markets Fund Lux (SPRIM Lux), StepStone Private Venture and Growth Fund Lux (SPRING Lux) and StepStone Private Infrastructure Fund Lux (STRUCTURE Lux). These funds are currently available on a variety of platforms, including Allfunds, FundsPlace, and offer a digital subscription through Goji.
About StepStone
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 December 31, 2024, StepStone was responsible for approximately
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
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Which StepStone funds are being converted to UCI Part II vehicles?
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How much of StepStone's total capital is allocated to private debt?
