ZURICH, Switzerland, April 09, 2025 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP), a leading global private markets solutions provider, announced today that several of its private market evergreen funds are now accessible through Bergos AG, which manages CHF7.3 billion in assets on behalf of clients.
StepStone funds now available at Bergos AG are:
- StepStone Private Venture and Growth Fund ("SPRING Lux") is a broadly diversified venture and growth strategy fund leveraging an open architecture approach, selecting managers across the innovation economy. As of February 28, 2025, SPRING Lux has $341.7M in AUM and has delivered a 59.92% total net return since inception in November of 2022.
- StepStone Private Infrastructure Fund ("STRUCTURE Lux") seeks to provide current income and long-term capital appreciation by offering investors access to a global investment portfolio of private infrastructure assets. As of February 28, 2025, STRUCTURE Lux has $79.9M in AUM and has delivered a 24.91% total net return since inception in September of 2023.
- StepStone Private Credit Fund ("SCRED Lux") offers a permanent private debt co-investment solution deploying various credit-related strategies across market cycles to generate both current income and long-term capital appreciation. As of January 30, 2025, SCRED Lux has $43.6M in AUM, leveraging a 'multi-lender' approach since inception in June of 2024.
- StepStone Private Credit Europe ELTIF ("SCRED Europe") is structured to offer investors access to a broadly diversified, European-focused private credit strategy, with a primary focus on senior secured direct lending. The fund has successfully launched with over €250 million in seed capital, backed by a robust pipeline of opportunities.
"Investors have embraced our approach to accessing the private markets through StepStone's evergreen platform, and we are excited to deliver this access to Bergos' clients," said Neil Menard, Partner and President of Distribution at StepStone. "Bergos aligns with our mission of providing investors access to institutional-quality private market investments around the globe, and we are proud to partner with an institution whose values reflect our own."
Earlier this year, StepStone launched SCRED Europe, a private credit fund available to EU-domiciled professional and retail investors1. SPRING Lux and STRUCTURE Lux were also recently converted from reserved alternative investment funds (RAIFs) to UCI Part II compliant structures, allowing professional investors and semi-professional investors greater access to the private markets, including private equity, infrastructure, and real estate.
1 As defined under Directive 2014/65/EU. SCRED Europe is only available to professional and retail investors in those EEA Member States into which the manager of the fund has registered it for marketing. Further detail on the fund's registration status is available from the manager on request. This press release is not and should not be understood to be an offer of securities in any fund mentioned herein.
About StepStone
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of December 31, 2024, StepStone was responsible for approximately $698 billion of total capital, including $179 billion of assets under management. StepStone's clients include some of the world's largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.
About Bergos
Bergos AG is an independent Swiss Private Bank focusing on private wealth management. Bergos emerged in 2021 with a new shareholder base from its former mother company, the Berenberg Group founded in 1590, and has been serving international private clients and entrepreneurs in the Swiss financial center for over thirty years. Its headquarters are in Zurich with an office in Geneva. The Swiss Private Bank is dedicated to "Human Private Banking" and specializes in wealth management and advisory services. With more than 130 employees, the focus is on providing expert guidance in all known liquid asset classes, as well as in private markets and alternative investments. Following a "beyond money" approach, we also offer expertise in art collecting and philanthropy. For entrepreneurial clients, Bergos offers access to M&A and other corporate finance services. Bergos AG offers private clients, entrepreneurs and their families a holistic, cross-generational service that focuses on security, neutrality, internationality and openness to the world.
BERGOS' SERVICES ARE NOT MARKETED, SOLICITED OR OFFERED TO ANY PERSON RESIDENT OR ORGANISED INSIDE THE JURISDICTION OF UNITED STATES OF AMERICA AT ANY TIME. THEREFORE, BERGOS DOES NOT MARKET, SOLICIT OR OFFER STEPSTONE EVERGREEN FUNDS IN THE UNITED STATES OR TO US PERSONS.
THIS DOCUMENT IS A MARKETING COMMUNICATION. PLEASE REFER TO THE OFFERING MEMORANDUM OF SPRING LUX, STRUCTURE LUX, SCRED LUX AND SCRED EUROPE (COLLECTIVELY, THE "FUNDS") BEFORE MAKING ANY FINAL INVESTMENT DECISIONS.
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. ACTUAL PERFORMANCE MAY VARY.
This document is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, or as an offer to provide advisory or other services by StepStone Group Private Wealth LLC ("SPW"), StepStone Group LP ("StepStone"), StepStone Group Europe Alternative Investments Limited ("SGEAIL") or their subsidiaries or affiliates (collectively, the "Managers") in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this document should not be construed as legal, financial or investment advice on any subject matter. The Managers expressly disclaim all liability in respect to actions taken based on any or all of the information in this document.
Before investing you should carefully consider the Funds' investment objectives, risks, charges and expenses. This and other information are explained in the relevant Offering Memorandum for each Fund, a copy of which may be obtained from SGEAIL upon request.
Information contained herein is subject to change and amendment. An indication of interest in response to this advertisement will involve no obligation or commitment of any kind.
Prospective investors should inform themselves and obtain appropriate advice as to any applicable legal or regulatory requirements and any applicable taxation and exchange control regulations in the countries of their citizenship, residence or domicile which might be relevant to the suitability, subscription, purchase, holding, exchange, redemption or disposal of any investments.
An investment involves a number of risks and there are conflicts of interest. Please refer to the risks outlined in detail in the relevant Offering Memorandum for each Fund.
Marketing in the European Union
The Funds are alternative investment funds ("AIFs") for the purpose of Alternative Investment Fund Managers Directive ("AIFMD"). SGEAIL is the alternative investment fund manager ("AIFM") of the Funds.
The Funds that do not qualify as ELTIFs can be marketed to Professional Investors in the EEA in accordance with the requirements set out in Article 32 of AIFMD.
Marketing of the Funds outside the EEA or in the EEA to investors other than Professional Investors (where relevant) must comply with applicable national private placement regimes. Those investors are required to inform themselves of any applicable local requirements or restrictions before investing in the Funds and to assess the impact of any risks they may be exposed to when investing in the Funds.
Notice to all European Economic Area (EEA) residents
In the EEA, this document is disseminated by SGEAIL.
The Funds may only be offered or placed in an EEA Member State: (1) to Professional Investors to the extent that they have been registered for marketing in the relevant EEA Member State in accordance with Article 32 AIFMD (as amended and as implemented into the local law/regulation of the relevant EEA Member State); (2) to non-professional investors who meet the requirements of any national law/regulation which permits them to invest in AIFs, as specifically identified below; or (3) as they may otherwise be lawfully offered or placed in that EEA Member State, including at the exclusive initiative of an investor where permitted in accordance with the AIFMD.
A list of the EEA Member States in which the Funds are registered for marketing under Article 32 AIFMD is available from the Managers upon request.
Notice to investors in Austria
Certain of the Funds have been notified to the Austrian Financial Market Authority (FMA) for marketing to professional investors (Professionelle Anleger) within the meaning of § 2 para 1 no 33 of the Austrian Alternative Investment Funds Act (Alternative Investmentfonds Manager-Gesetz; AIFMG) in accordance with Article 32 AIFMD and § 31 AIFMG. In the Republic of Austria, the relevant Funds may only be offered or placed and any offering or marketing materials related thereto may only be distributed to investors who are either (a) professional investors (Professionelle Anleger) as defined in § 2 para 1 no 33 AIFMG or where relevant (b) qualified retail investors (Qualifizierte Privatkunden) as defined in § 2 para 1 no 42 AIFMG. Distribution of the relevant Funds and any offering or marketing materials related thereto to retail investors (Privatkunden) as defined in § 2 para 1 no 36 AIFMG in the Republic of Austria is not permitted. Subscriptions by retail investors (Privatkunden) will therefore not be accepted. None of the Managers or the relevant Funds are subject to supervision by the FMA or any other Austrian authority. Neither the relevant Offering Memorandum, nor the relevant key information document (KID) have been reviewed by the FMA or any other Austrian authority.
Notice to professional and semi-professional investors in Germany
Certain of the Funds have been notified to the German Financial Services Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, or BAFIN) in accordance with Section 323 of the German investment code (Kapitalanlagegesetzbuch - KAGB).
The relevant Funds may only be marketed and offered to professional and, where relevant to semi-professional investors in the Federal Republic of Germany, as defined in Section 1 (19) nos. 32 and 33 of the KAGB. The relevant Funds have not been admitted for marketing to retail investors within the meaning of Section 1 (19) no. 31 of the KAGB in Germany. Accordingly, the relevant Funds may not be offered and marketed to retail investors in Germany. This disclosure, the relevant Offering Memorandum and any other document relating to the relevant Funds, as well as information or statements contained therein, may not be supplied to retail investors in Germany or any other means of public marketing. Any resale of the relevant Funds in Germany may only be made to professional and semi-professional investors in Germany and in accordance with the provisions of the KAGB and any other applicable laws in Germany governing the sale and offering of the relevant Funds.
Notice to investors in Italy
Certain of the Funds have been passported with the Commissione Nazionale per le Società e la Borsa (CONSOB) for the marketing in Italy vis-à-vis professional investors in accordance with Article 32 AIFMD, article 43 of the Italian Legislative Decree of 24th February 1998, no. 58 (testo unico della finanza, the "TUF") and relevant local implementing regulations in Italy. The relevant Funds may be distributed exclusively to the following categories of investors: (i) "professional investors" as defined in the AIFMD; or where relevant (ii) "non-professional investors" who: (1) invest at least EUR 500,000 in the relevant Fund; or (2) invest at least EUR 100,000 in the relevant Fund, and in the case of the latter, either: (a) the investment is made by a licensed portfolio manager on behalf of the non-professional investor; or (b) the investment is made by the non-professional investor in the context of the provision of investment advice, and is subject to the requirement that the entirety of any investments by that same non-professional investor in EU AIFs does not exceed ten percent (10%) of his or her financial portfolio as a result of a subscription or investment in the relevant Fund.
Notice to investors in Switzerland
The offer and the marketing of the Funds in Switzerland will be exclusively made to, and directed at, qualified investors (the "Qualified Investors"), as defined in Article 10(3) and (3ter) of the Swiss Collective Investment Schemes Act ("CISA") and its implementing ordinance, at the exclusion of qualified investors with an opting-out pursuant to Article 5(1) of the Swiss Federal Law on Financial Services ("FinSA") and without any portfolio management or advisory relationship with a financial intermediary pursuant to Article 10(3ter) CISA ("Excluded Qualified Investors"). Accordingly, the Funds have not been and will not be registered with the Swiss Financial Market Supervisory Authority ("FINMA") and no representative or paying agent have been or will be appointed in Switzerland. This document and/or any other offering or marketing materials relating to The Funds may be made available in Switzerland solely to Qualified Investors, at the exclusion of Excluded Qualified Investors. The legal documents of the Funds may be obtained free of charge from the Managers.
Notice to investors in the United Kingdom
The Funds are alternative investment funds for the purpose of the Alternative Investment Fund Managers Regulations, 2013, as amended by the Alternative Investment Managers (Amendment, etc.) (EU Exit) Regulations 2019 ("UK AIFM Regulations"). SGEAIL is the alternative investment fund manager ("AIFM") of the Funds.
The Funds have been registered for marketing under Regulation 59(1) of the UK AIFM Regulations. On that basis, the Funds may be marketed in the United Kingdom to UK persons who qualify as Professional Investors.
Contacts
Shareholder Relations:
Seth Weiss
shareholders@stepstonegroup.com
+1 (212) 351-6106
Media:
Brian Ruby / Chris Gillick / Matt Lettiero, ICR
StepStonePR@icrinc.com
+1 (203) 682-8268
