NEW YORK, July 25, 2023 (GLOBE NEWSWIRE) -- StepStone Private Wealth (“SPW”) today announced that StepStone Private Markets (“SPRIM™”), SPW’s core private markets evergreen fund, began publishing a daily net asset value (“NAV”) allowing investors to invest on a daily basis effective July 17.

SPRIM, the firm’s $1.3 billion, broad-based private markets solution that spans private equity, private debt and real assets, is now available to accredited investors via numerous wealth management platforms on a daily basis. SPRIM will continue to offer quarterly redemptions.

“We seek to be the market leader in providing efficiency, transparency and convenience to individual investors and their financial advisors, and this transition should simplify the investment process,” said Neil Menard, Partner and President of Global Distribution at StepStone Private Wealth. “We are proud to be among the first platforms to introduce a daily NAV for a multi asset-class private markets fund. This milestone is an important innovation in our journey to continuously enhance the investor experience. Importantly, there will be no change to SPRIM’s investment strategy or target return.”

SPW now offers investors and their advisors the opportunity to buy shares in SPRIM through select mutual fund platforms via a ticker and will no longer require completing paper subscription documents. SPRIM is available on the National Securities Clearing Corporation (NSCC) platform while subscription agreements will continue to be accepted on a daily basis for platforms that prefer them.

SPRIM Ticker Symbols:

• Share Class I: XPMIX
• Share Class D: XPMDX
• Share Class S: XPMSX
• Share Class T: XPMTX

As a publicly registered fund, SPRIM’s monthly fact card, prospectus, portfolio holdings and other key information are available on the fund’s website, stepstonepw.com.

About StepStone

StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory, data and administrative services to its clients. As of March 31, 2023, StepStone was responsible for approximately $621 billion of total capital, including $138 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

Media:
Brian Ruby / Chris Gillick / Matt Lettiero, ICR
StepStonePR@icrinc.com
1-203-682-8268

Important Information

Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained from StepStone Private Wealth at 704.215.4300 or by visiting stepstonepw.com. An investor should read the prospectus carefully before investing.

An investment in the Fund involves risks. The Fund should be considered a speculative investment that entails substantial risks, and a prospective investor should invest in the Fund only if it can sustain a complete loss of its investment. Fund shares are illiquid and appropriate only as a long-term investment. Investments may consist of loans to small and/or less well-established privately held companies that have reduced access to the capital markets, resulting in diminished capital resources and the ability to withstand financial distress. Please see the prospectus for details of these and other risks.

The Fund is distributed by UMB Distribution Services, LLC which is not affiliated with StepStone Group.