During StepStone’s 2022 360 Investor Conference in New York City, StepStone Private Wealth’s Bob Long and Neil Menard discussed democratizing private markets by delivering institutional quality private market solutions to individual investors who have previously been underserved in the private market space.

Before investing you should carefully consider the Funds investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained from StepStone Private Wealth at 704-215-4300. An investor should read the SPRIM and SPRING prospectus carefully before investing. Investors should also review the material available on stepstonepw.com with respect to the funds.

An investment in the Funds involves risks. The Funds should be considered a speculative investment that entails substantial risks, and a prospective investor should invest in the Fund 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 market exchange available for shares of the Funds thereby making them difficult to liquidate. Use of leverage may increase the Funds volatility. The Funds are non-diversified, meaning they may concentrate their assets in fewer individual holdings than a diversified fund. 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. Please see the Funds prospectus for details of these and other risks.

SPRING will invest in venture capital, growth equity and other private market assets. SPRING’s investments held by Investment Funds and Primary Direct Investments involve the same types of risks associated with an investment in any operating company. However, securities of private equity funds, as well as the underlying companies these funds invest in, tend to be more illiquid, and highly speculative. 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 SPRING as a member of a purchasing syndicate, and it 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. SPRING 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.

Foreside Financial Services, LLC, Distributor.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ACTUAL PERFORMANCE MAY VARY.