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 $698 billion in total capital, including $65 billion in private debt, announced it received approval to launch a Private Debt-based European Long-Term Investment Fund (“ELTIF”).

“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 $698 billion of total capital, including $179 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.

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

This item of content is a press release from a third party provider who make no warranties or representations in connection with this content and therefore PA can make no warranties in respect of its use.

Tags

More Like This

StepStone Group Opens New Office in Ireland

EQT broadens access to private markets for individual investors - introduces ELTIF evergreen fund

FTSE Russell and StepStone Group launch global fund-level daily private market indices

StepStone Group Partners with Aviva to Broaden Access to Private Markets for UK Pension Savers

Kroll and StepStone Group Launch Private Credit Benchmarks

StepStone Launches Evergreen Strategies on LSEG’s Digital Markets Infrastructure (DMI)

EQT makes infrastructure more accessible to individual investors across Europe - introduces new ELTIF evergreen fund

Ares Management Launches First ELTIF to Expand Access to European Direct Lending Strategy