StepStone Announces Secondary Offering
March 16 2021 - 4:20PM
StepStone Group Inc. (“StepStone”) today announced that certain of
its stockholders (the “Selling Stockholders”), intend to offer for
sale in an underwritten secondary offering 8,000,000 shares of
StepStone’s Class A common stock (the “Offering”). The Selling
Stockholders also intend to grant the underwriters a 30-day option
to purchase up to an additional 1,200,000 shares of StepStone’s
Class A common stock. The Selling Stockholders will receive all of
the net proceeds from the Offering. StepStone is not offering any
shares of its Class A common stock in the Offering and will not
receive any proceeds from the Offering, including from any exercise
by the underwriters of their option to purchase additional shares.
J.P. Morgan, Goldman Sachs & Co. LLC and
Morgan Stanley are acting as joint book-running managers for the
proposed Offering.
A registration statement relating to these
securities has been filed with the U.S. Securities and Exchange
Commission but has not yet become effective. This press release
shall not constitute an offer to sell or the solicitation of an
offer to buy nor will there be any sale of any of these securities
in any state or jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration and qualification
under the securities laws of such state or jurisdiction.
The Offering may be made only by means of a
prospectus. Copies of the preliminary prospectus related to the
Offering may be obtained from:
J.P. Morgan Securities LLCc/o Broadridge Financial Solutions1155
Long Island AvenueEdgewood, New York 11717Attn: Prospectus
GroupTelephone: (866) 803-9204
Goldman Sachs & Co. LLC200 West StreetNew York, NY
10282Attn: Prospectus DepartmentTelephone: (866) 471-2526
Morgan Stanley & Co. LLC180 Varick Street, Second FloorNew
York, New York 10014Attn: Prospectus Department
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, 2020, StepStone oversaw approximately $333
billion of private markets allocations, including $80 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.
Forward-Looking Statements
Some of the statements in this release may
constitute “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact are forward-looking. Words such as “anticipate,”
“believe,” “continue,” “estimate,” “expect,” “future,” “intend,”
“may,” “plan” and “will” and similar expressions identify
forward-looking statements. Forward-looking statements, including
statements regarding the size, timing or results of the Offering
and the Selling Stockholders’ intent to offer shares of Class A
common stock, reflect management’s current plans, estimates and
expectations and are inherently uncertain. The inclusion of any
forward-looking information in this release should not be regarded
as a representation that the future plans, estimates or
expectations contemplated will be achieved. Forward-looking
statements are subject to various risks, uncertainties and
assumptions. Important factors that could cause actual results to
differ materially from those in forward-looking statements include,
but are not limited to, global and domestic market and business
conditions, successful execution of business and growth strategies
and regulatory factors relevant to our business, as well as
assumptions relating to our operations, financial results,
financial condition, business prospects, growth strategy and
liquidity and the risks and uncertainties described in greater
detail under “Risk Factors” included in our prospectus dated March
16, 2021, filed with the U.S. Securities and Exchange Commission on
March 16, 2021, as such factors may be updated from time to time.
We undertake no obligation to revise or update any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by law.
Contacts
Shareholder
Relations:shareholders@stepstonegroup.com
1-212-351-6106
Media:Brian Ruby / Chris Gillick,
ICRStepStonePR@icrinc.com 1-203-682-8268
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