STPEX
What is STPEX full name and target return?
StepStone Private Equity Strategies Fund and ~14-16%
What are the fees?
1.15% management fee and a 10% performance fee
Which fund did Armando just present about on the Bi-Weekly Sales call? Explain 2 differences between StepStone's similar product
Ares Core Infra
Interval vs BDC, No Qualification vs AI, 5k vs 25k minimum,
401k's
Total capital responsibility? What is the breakdown of AUM and AUA?
$723M. $199M AUM, $524M AUA
What is the minimum initial investment and investor qualification required?
$5k and no qualification required
Investor qualification?
none
Which competitor at Morgan Stanley was promising large performance pops due to secondaries?
FLEX
Which asset class was just featured in the WSJ and described the market as "humming"?
What are the 5 P's?
Precise, Positive, Passionate, Principled, Purposeful
Liquidity terms are?
The Fund offers to repurchase between 5% and 25% of the Fund’s outstanding shares at NAV on a semi-annual basis
How many positions in CRDEX make up more than 1% of the fund?
0
4 ways ARK is different from SPRING?
Interval Fund
Minimum: $500
Total Net Expenses: 2.90% (4.71% gross)
Less Assets and AUM
Has Public
Which company just agreed to the largest LBO in history?
EA Sports
What is the StepStone Group ticker and ~last price?
STEP $65
Management fee and all in fee? (Class I)
1.6% management fee all in ~3.34%
How much leverage is used in CRDEX?
0.2x
What are 3 differences between BXPE and STPEX?
Which investment strategy is often scrutinized in articles and on the news? What are three advantages of this investment strategy?
Secondaries.
No blind pool, gets rid of j curve/more cash back sooner, way to access great funds/assets we want, our network and position in the market gives us an advantage, discounts, etc.
Name 7 countries StepStone has an office in.
United States, Netherlands, China, United Kingdom, Ireland, Germany, Luxembourg, Italy, Brazil, Chile, Canada, Japan, South Korea, Singapore, Australia, Mexico, Hong Kong
Describe the overlap between SPRIM and STPEX
Everything in SPRIM will be in STPEX but not everything in STPEX will go into SPRIM
No infra or credit in STPEX, there will be more high alpha PE plays instead
What type of loan was mentioned on the last SYNC that many competitors are using and we are staying away from?
PIK (Payment-In-Kind)
Which two funds would be considered direct competitors to SPRIM because they have exposure to multiple asset classes? (per our internal competitor cheat sheet)
Cascade Private Capital Fund (CPEFX), Partners Group PE (PGPE)
Which SPRING portfolio company was recently featured in the WSJ seeking the largest IPO IN Europe since 2022?
Verisure
Verisure Seeks Up to $16.3 Billion Valuation in Largest Europe IPO Since 2022 - WSJ
What is our mission statement?
To be the trusted partner of choice for private markets solutions globally.