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StepStone Group Launching ELTIF in Europe

1. StepStone approved to launch a Private Debt-based European Long-Term Investment Fund. 2. Focus on European markets, including Italy and Spain, for private credit assets. 3. Conversion of existing funds improves access for professional investors. 4. StepStone manages about $698 billion, expanding strategic offerings in Europe.

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Why Bullish?

StepStone's expansion into Europe diversifies its investments, potentially increasing revenue. Past innovations, like new fund launches, have historically driven share price growth.

How important is it?

This article outlines significant expansions that could maximize STEP's revenue and market presence. The introduction of ELTIFs caters to demand for efficient investment solutions.

Why Long Term?

The establishment of new funds and market presence strengthens StepStone's future earnings potential. Historically, such moves have created sustained value over time.

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StepStone has also converted existing Lux funds to UCI Part II-compliant structures February 13, 2025 13:15 ET  | Source: StepStone Group Inc 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 Weissshareholders@stepstonegroup.com+1 (212) 351-6106 Media:Brian Ruby / Chris Gillick / Matt Lettiero, ICRStepStonePR@icrinc.com+1 (203) 682-8268

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