StepStone Group

StepStone Group is a prominent global private markets investment firm headquartered in New York, specializing in providing customized portfolio solutions to institutional investors. The firm's comprehensive approach integrates primary fund commitments, secondary market transactions, and direct co-investments across a diverse range of private market asset classes, including private equity, private debt, real estate, infrastructure, and increasingly, sustainable and impact investments. This multi-faceted strategy allows StepStone to offer tailored exposure to illiquid assets, catering to the specific needs and risk appetites of its sophisticated client base, which includes large pension funds, endowments, and sovereign wealth funds.

As of December 31, 2023, StepStone Group managed and advised on an impressive $143 billion in assets under management (AUM), reflecting its significant footprint in the private markets landscape. The firm's total capital allocations exceed $650 billion, underscoring its vast reach and influence in deploying capital across various private strategies globally. While StepStone is not a traditional early-stage venture capital firm, its co-investment activities represent its direct equity participation in companies, typically alongside the private equity and growth equity fund managers with whom they have established relationships. These co-investments are generally focused on later-stage growth or buyout opportunities rather than seed or Series A rounds.

StepStone's co-investment strategy has been particularly active, demonstrating its capacity for direct capital deployment. Since its inception, the firm has committed over $10 billion across more than 200 co-investments, indicating an average deal size of approximately $50 million per transaction. These direct investments allow StepStone to gain additional exposure to specific companies and sectors, often at more attractive terms than through fund commitments alone. The firm's deep expertise in due diligence and its extensive network within the private markets ecosystem enable it to identify and participate in compelling co-investment opportunities, providing its clients with diversified exposure and enhanced returns.