During StepStone’s 2023 360 Investor Conference, Bob Long and Neil Menard discussed the unique advantages of evergreen funds, showcasing the StepStone Private Wealth platform and it’s potential to compound returns and offer individual investors a transparent investment experience.
The session emphasized StepStone’s commitment to democratizing the advantages of private markets, traditionally enjoyed by large institutions and transforming these opportunities into accessible options for high-net-worth and small institutional investors.
Important Information
Past performance does not guarantee future results. There is no guarantee that a particular investment strategy will be successful.
Registered funds, private funds, and separately managed accounts have different investment strategies and risk profiles, which should be considered when investing. Differences may include objectives, costs and expenses, liquidity, safety, guarantees or insurance, fluctuation of principal or return, and tax features. All investments contain risk and may lose value.
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the SPRIM , SPRING and STRUCTURE 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 Funds involve risks. The Funds should be considered speculative investments that entail substantial risks, and a prospective investor should invest in the Funds only if it can sustain a complete loss of its investment. Fund fees and expenses may offset trading profits. Fund shares are illiquid and appropriate only as a long-term investment. There is no secondary market for the Funds’ Shares and the Funds expect that no secondary market will develop in the foreseeable future. The risks of investing in venture capital and growth equity companies are generally greater than the risks of investing in public companies that may be at a later stage of development. Secondary investments may be acquired by the Funds as a member of a purchasing syndicate, and they may be exposed to additional risks such as (i) counterparty risk, (ii) reputation risk, (iii) breach of confidentiality by a syndicate member, and (iv) execution risk. Infrastructure companies may be subject to a variety of factors that may adversely affect their business, including economic slowdown, supply and demand volatility, increased competition, fluctuations in usage, expenses, and revenue, lack of fuel availability, energy conservation policies, technological obsolescence and changes in interest rates, regulations, or fiscal and monetary policy. Property values may fall due to in-creasing vacancies or declining rents resulting from unanticipated economic, legal, cultural or technological developments. There is no regular market for interest in infrastructure assets, which typically must be sold in privately negotiated transactions that can occur at a discount to the stated NAV.
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. The Funds are non-diversified, meaning they may concentrate their assets in fewer individual holdings than a diversified fund. While the Fund provides transparent disclosure of structure, strategy, holdings, and financial condition, the valuation of the Fund’s investments in Private Markets Investment Funds is ordinarily determined based upon valuations provided by the Investment Managers on a quarterly basis. A large percentage of these securities do not have a readily ascertainable market price and are fair valued by the Investment Manager subject to future adjustment or revision. No assurances can be given regarding accuracy of the valuation methodology or the sufficiency of systems utilized by any Investment Manager, and an Investment Manager’s valuation of the securities may fail to match the amount ultimately realized with respect to the disposition of such securities. Though valuations of Fund investments are ordinarily made quarterly, the Funds will provide valuations, and will issue shares, on a more frequent basis. The Funds may maintain a sizeable cash position in anticipation of funding capital calls. Holding a portion of the investment portfolio in cash or cash equivalents may have a negative effect on overall performance. The Fund’s “over-commitment” strategy could result in an insufficient cash supply to fund unfunded commitments to investment funds resulting in negative impacts to the Fund. Please see the prospectuses for details of these and other risks.
The StepStone Private Wealth Funds are distributed by UMB Distribution Services, LLC which is not affiliated with StepStone Group.
Improving access to private markets
Check out our podcast episode featuring Bob Long, Partner & CEO of StepStone Private Wealth
