StepStone Group Expands Global Presence
StepStone Group (Nasdaq: STEP), a well-regarded provider of private markets solutions, has recently announced the opening of a new office in Jeonju, South Korea. This significant development highlights StepStone's ongoing commitment to expanding its global footprint and enhancing its collaborative efforts with key partners, particularly the National Pension Service (NPS), which stands as one of the largest institutional investors worldwide.
Strengthening Partnerships in Asia
Located in North Jeolla Province, this new office serves as a critical extension of StepStone's service capabilities, fostering a closer relationship with NPS, which they have been collaborating with for many years. This strategic move follows the establishment of StepStone's Seoul office back in 2014 and is aimed at bolstering communication and collaboration, vital for providing tailored solutions that meet the unique investment needs of NPS.
Commitment to Exceptional Service
“Opening an office in Jeonju reflects our intention to deepen the relationship we have with NPS,” expressed JeeYoung Kim, a partner at StepStone based in Seoul. This new location will enable StepStone to offer better services, assisting NPS with its investment program designed to maximize portfolio outcomes through innovative strategies.
Celebration of New Beginnings
The formal opening ceremony held earlier this month was a testament to the strong bond between StepStone and NPS, attended by key figures including the chairman of the National Pension Service, Kim Tae-hyun, and StepStone's CEO, Scott Hart. “Our Jeonju office symbolizes the strength of our ongoing partnership with NPS,” said Hart, highlighting the synergy between the two organizations in pursuit of high-quality global investment opportunities.
Overview of StepStone Group
StepStone Group Inc., listed on Nasdaq under the ticker STEP, has carved a niche as a leading global investment firm specializing in private markets. The firm focuses on developing tailored investment solutions alongside advisory and data services to cater to a diverse clientele, including some of the most significant public and private pension funds, sovereign wealth funds, and insurance companies around the globe.
Key Financial Metrics
As of the end of March, StepStone was managing approximately $709 billion in total capital, which includes a substantial $189 billion in assets under management. This impressive portfolio reflects StepStone's capability in servicing prominent endowments, foundations, family offices, and a wide range of high-net-worth individuals, aiming to align their investments with specific strategic objectives across various asset classes such as private equity, infrastructure, real estate, and private debt.
Contact Information for Inquiries
Individuals seeking more information can reach out directly to the Shareholder Relations team. Seth Weiss can be contacted at 1-212-351-6106 or via email at shareholders@stepstonegroup.com. For media inquiries, Brian Ruby and his team at ICR can be contacted at 1-203-682-8268 or via StepStonePR@icrinc.com.
Frequently Asked Questions
What does StepStone Group do?
StepStone Group is a global investment firm specializing in private markets, offering tailored investment solutions and advisory services.
Where is the new StepStone office located?
The new office is located in Jeonju, South Korea, aimed at enhancing collaboration with the National Pension Service.
How many offices does StepStone have in South Korea?
This new office in Jeonju is the second in South Korea, following the establishment of the Seoul office in 2014.
Who is StepStone’s primary client?
StepStone’s clients include large public and private pension funds, sovereign wealth funds, insurance companies, and various high-net-worth individuals.
What is the significance of the new office?
The Jeonju office is designed to strengthen StepStone’s partnership with NPS, allowing for improved service delivery and investment strategies.
