StepStone Group LP (StepStone) is a global

private markets A financial market is a market in which people trade financial securities and derivatives at low transaction costs. Some of the securities include stocks and bonds, raw materials and precious metals, which are known in the financial markets ...

firm providing customized investment, portfolio monitoring and advice to investors. StepStone covers primary fund investments,

secondary Secondary may refer to: Science and nature * Secondary emission, of particles ** Secondary electrons, electrons generated as ionization products * The secondary winding, or the electrical or electronic circuit connected to the secondary winding i ...

fund investments and

co-investments An equity co-investment (or co-investment) is a minority investment, made directly into an operating company, alongside a financial sponsor or other private equity investor, in a leveraged buyout, recapitalization or growth capital transaction. I ...

across

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a typ ...

, real estate, infrastructure and real assets, and private debt.

History

StepStone was founded in 2006 and is based in

La Jolla, California La Jolla ( , ) is a hilly, seaside neighborhood within the city of San Diego, California, United States, occupying of curving coastline along the Pacific Ocean. The population reported in the 2010 census was 46,781. La Jolla is surrounded on ...

and

New York, New York New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...

. The founders, Monte Brem and Thomas Keck had previously made

investments for

Pacific Corporate Group Pacific Corporate Group is a global alternative investment management and advisory company headquartered in La Jolla, California. PCG, together with affiliates and subsidiaries (together, the "affiliates") currently manage over $17 billion in a ...

, as President and Managing Director, respectively. From its first office in La Jolla, the firm has expanded to New York City, San Francisco, Cleveland, Toronto, Dublin, London, Luxembourg, Zurich, Beijing, Hong Kong, Seoul, Tokyo, Sao Paulo, Sydney, and Perth. The firm oversees over US$130 billion of private capital allocations, including over US$34 billion of assets under management. In March 2015, it was published that StepStone would move its

Manhattan Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five Boroughs of New York City, boroughs of New York City. The borough is also coextensive with New York County, one of the List of co ...

headquarters to the former offices of

Bernard L. Madoff Investment Securities Bernard Lawrence Madoff ( ; April 29, 1938April 14, 2021) was an American fraudster and financier who was the admitted mastermind of the largest Ponzi scheme in history, worth about $64.8 billion. He was at one time chairman of the NASDAQ s ...

, and the site of where company head

Bernard Madoff Bernard Lawrence Madoff ( ; April 29, 1938April 14, 2021) was an American fraudster and financier who was the admitted mastermind of the largest Ponzi scheme in history, worth about $64.8 billion. He was at one time chairman of the NASDAQ ...

operated his $65 billion Ponzi scheme. In 2012, StepStone appointed Mushin Kim as a partner in the Asian region and expanded its Korean office, and began to expand its investment in Asia in earnest. In 2018, StepStone acquired Universum, a global company specializing in employer branding.

Investments

StepStone typically invests between $15 million and $200 million in firms with enterprise value between $150 million and $2.5 billion.

References

{{Merchant banking private equity groups Financial services companies established in 2006 Private equity firms of the United States Investment banking private equity groups Companies based in New York City