StepStone completes third exchange, boosting ownership in three asset entities to 65% each

Filed June 1, 2026 · Period ending May 29, 2026 · ~1 min read

Key Changes

• high

  StepStone acquired an additional ~5% stake in each of three Asset Class Entities (Real Estate, Real Assets, and Private Debt), bringing total ownership to 65% in each platform. This continues the multi-stage consolidation announced in February 2024.

  Item 3.02 verify on EDGAR →
• high

  Total consideration was ~$10M cash (after adjustments), 972,685 Class A shares, and 2.4M Class D Units (convertible 1-for-1 to Class A). The mixed structure balances cash outlay with equity dilution.

  Item 3.02 verify on EDGAR →
• low

  Securities issued were unregistered under Section 4(a)(2) exemption. Shares to SPD seller face transfer restrictions, limiting near-term selling pressure but marking them as restricted securities.

  Item 3.02 verify on EDGAR →