Bob Long, CEO of StepStone Private Wealth, participated as a panelist in Asset TV’s Masterclass on Private Equity. The virtual event brought together industry experts and thought leaders to discuss critical topics shaping the private equity landscape. 

The Masterclass delved into the following topics: 

  • Democratization of the private equity space: Understanding how private equity is becoming more accessible and its implications for both individual investors and fund managers.
  • Exploring the potential benefits of evergreen funds: Analyzing the rise of evergreen funds as a viable alternative to traditional private equity funds and their impact on long-term investment strategies.
  • Examining distinctive opportunities in private equity: Assessing emerging trends and attractive opportunities within the private equity market, highlighting potential areas for growth and diversification. 

 

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 StepStone Private Markets Fund (SPRIM) and StepStone Private Venture and Growth Fund (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. 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. Please see the Funds prospectuses 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.

Past performance does not guarantee future results. Diversification does not assure a profit nor protect against loss in a declining market. Opinions expressed are subject to change at any time, are not guaranteed, and should not be considered investment advice. Fund holdings and allocations are subject to change and are not recommendations to buy or sell any security. On a quarterly basis, at the discretion of the Board of Trustees, SPRIM offers a share repurchase program for up to 5% of the Fund’s outstanding Shares per quarter subject to limitations. SPRING offers a share repurchase program for up to 2.5% of the Fund’s outstanding Shares per quarter subject to limitations. The Funds are not obligated to redeem any shares, and the Board may modify, suspend or terminate the plans. If a repurchase offer is oversubscribed, a Shareholder’s redemption may not be fulfilled in total as the Fund may repurchase a pro rata portion by value of the Shares tendered by each Shareholder. Please see the Prospectuses for a full discussion regarding liquidity/share repurchase limitations.

SPRIM and SPRING are distributed by UMB Distribution Services, LLC which is not affiliated with StepStone Group Private Wealth LLC.