GlobeNewswire All Public CompaniesQwen · 实盘不做把握 3/10不做原因:标的无直接敞口
北京时间·🕒 发布 08-26 20:05:00·⟳ 抓取 08-26 20:06:59·⚡ 决策 08-27 02:33:45 +6h26m·61.7 天前
StepStone Group完成首只基础设施二级市场基金SSIF募集，总承诺规模17亿美元
基金募集完成对StepStone的增量收入极为有限（约1700-2500万美元/年管理费，占公司收入比例极低），且基金已50%部署，不构成短线可交易的催化。股价当日仅涨1.19%且成交量低于均值（vol_spike_x=0.34），市场未将其视为重大事件。
📄 原文GlobeNewswire All Public Companies↗ 原文
StepStone Group Inc. (Nasdaq: STEP) completed fundraising for StepStone Secondaries Infrastructure Fund (“SSIF” or the…
不做 StepStone Group（STEP.US）
Materiality不足：17亿美元新基金仅占公司2450亿AUM的0.69%，管理费增量约1700-2500万美元/年，相对41亿美元市值和整体业务微不足道。基金已50%部署，非新增资本流入。股价反应平淡（+1.19%，量比0.34），市场未将其视为重大催化。无可交易的edge。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
StepStone管理9130亿美元总资本/2450亿AUM，本次17亿美元基础设施二级市场基金仅占AUM的0.69%。按1-1.5%管理费率估算，年增量收入约1700-2500万美元，相对公司整体业务微不足道。基金已部署50%，非新增资本流入。股价反应平淡（+1.19%，量比0.34），市场未给予定价。无二阶受益标的。
🔎 新鲜度:最早出现 2026-08-26 · 扩散 low · price-in 风险 low ↗
先例如何影响了这次决策
对本次决策的影响:无先例可用，但materiality分析已足以判定AVOID，先例不影响结论
方向:无可用先例
涨幅量级:无
形态:无
工具调用 · 历史记录,结果未知(4 种)
- fetch_decision_experience · 结果未知
- search_processed_events · 结果未知
- search_case_library · 结果未知
- stock_quote · 结果未知
原文全文
展开原文 · 4,134 字
StepStone Group Inc. (Nasdaq: STEP) completed fundraising for StepStone Secondaries Infrastructure Fund (“SSIF” or the “Fund”) and related separate accounts, reaching $1.7 billion in total capital commitments.
SSIF is StepStone’s first closed-ended commingled fund dedicated to infrastructure secondaries, acquiring limited partner interests (“LP interests”) in infrastructure funds and investing in GP-led secondary funds managed by experienced third-party infrastructure GPs.
StepStone Infrastructure & Real Assets invests across primary funds, secondaries, and co-investments, and the relationships and deal flow generated across all three inform how the team underwrites secondary opportunities.
NEW YORK, Aug. 26, 2026 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm, today announced that it has closed on $1.7 billion of commitments for StepStone Secondaries Infrastructure Fund (“SSIF” or the “Fund”) and related separate accounts.
Following the successful fundraise of StepStone’s inaugural infrastructure co-investment fund in 2024, SSIF closed with $1.5 billion of capital commitments, surpassing its target and reaching the hard cap. The Fund focuses on acquiring fund LP interests and investing in GP-led secondary funds, targeting what StepStone believes are high-quality infrastructure funds and assets managed by experienced third-party infrastructure GPs.
“We are grateful to the investors who backed this fund, many of whom have partnered with us across our infrastructure platform for years,” said James O’Leary, Partner and Head of StepStone Infrastructure & Real Assets. “Secondaries are a relationship business. LPs come to us seeking liquidity or a way to reshape a portfolio, and GPs come to us seeking a partner who can support their funds and their assets over time. Those relationships are the foundation of everything we do in this market, and SSIF gives us greater capacity to act on them.”
Those relationships are also what the platform is built on. StepStone Infrastructure & Real Assets is among the largest allocators to private infrastructure across primary funds, secondaries, and co-investments, deploying an average of $13 billion each year over the past three years. Investing across all three strategies generates deal flow the team sees early and often, and that flow, captured in SPI by StepStone, produces insight into funds and assets well before they reach the secondary market. Like StepStone’s private equity secondary fund series, SSIF concentrates on the less efficient segments of the market, including the middle market, where StepStone believes its relationships and information advantages are key differentiators in isolating high-quality assets managed by best-in-class sponsors.
That approach is already visible in the portfolio. As of August 2026, the Fund is around 50% deployed across 26 closed LP-interest and GP-led deals, many of which have been executed in the middle –market.
Latham & Watkins LLP advised on the formation of the Fund.
About StepStone Group
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 June 30, 2026, StepStone was responsible for approximately $913 billion of total capital, including $245 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.
For more information, visit www.stepstonegroup.com.
Contacts
Shareholder Relations
Seth Weiss
shareholders@stepstonegroup.com
+1 (212) 351-6106
Media
Sam Adams, Edelman
stepstone@edifi-dje.com
SSIF is StepStone’s first closed-ended commingled fund dedicated to infrastructure secondaries, acquiring limited partner interests (“LP interests”) in infrastructure funds and investing in GP-led secondary funds managed by experienced third-party infrastructure GPs.
StepStone Infrastructure & Real Assets invests across primary funds, secondaries, and co-investments, and the relationships and deal flow generated across all three inform how the team underwrites secondary opportunities.
NEW YORK, Aug. 26, 2026 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm, today announced that it has closed on $1.7 billion of commitments for StepStone Secondaries Infrastructure Fund (“SSIF” or the “Fund”) and related separate accounts.
Following the successful fundraise of StepStone’s inaugural infrastructure co-investment fund in 2024, SSIF closed with $1.5 billion of capital commitments, surpassing its target and reaching the hard cap. The Fund focuses on acquiring fund LP interests and investing in GP-led secondary funds, targeting what StepStone believes are high-quality infrastructure funds and assets managed by experienced third-party infrastructure GPs.
“We are grateful to the investors who backed this fund, many of whom have partnered with us across our infrastructure platform for years,” said James O’Leary, Partner and Head of StepStone Infrastructure & Real Assets. “Secondaries are a relationship business. LPs come to us seeking liquidity or a way to reshape a portfolio, and GPs come to us seeking a partner who can support their funds and their assets over time. Those relationships are the foundation of everything we do in this market, and SSIF gives us greater capacity to act on them.”
Those relationships are also what the platform is built on. StepStone Infrastructure & Real Assets is among the largest allocators to private infrastructure across primary funds, secondaries, and co-investments, deploying an average of $13 billion each year over the past three years. Investing across all three strategies generates deal flow the team sees early and often, and that flow, captured in SPI by StepStone, produces insight into funds and assets well before they reach the secondary market. Like StepStone’s private equity secondary fund series, SSIF concentrates on the less efficient segments of the market, including the middle market, where StepStone believes its relationships and information advantages are key differentiators in isolating high-quality assets managed by best-in-class sponsors.
That approach is already visible in the portfolio. As of August 2026, the Fund is around 50% deployed across 26 closed LP-interest and GP-led deals, many of which have been executed in the middle –market.
Latham & Watkins LLP advised on the formation of the Fund.
About StepStone Group
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 June 30, 2026, StepStone was responsible for approximately $913 billion of total capital, including $245 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.
For more information, visit www.stepstonegroup.com.
Contacts
Shareholder Relations
Seth Weiss
shareholders@stepstonegroup.com
+1 (212) 351-6106
Media
Sam Adams, Edelman
stepstone@edifi-dje.com
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