Partner Mike Elio discusses STPEX, the StepStone Private Equity Strategies Fund, and how it’s designed to give investors core private equity exposure.

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Important Information

Before investing you should carefully consider the Fund’s 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 prospectus carefully before investing. Investors should also review the material available on stepstonepw.com with respect to StepStone Private Equity Strategies.

References to “Evergreen Funds” generally describe non-traded registered closed-end funds or products that are continuously offered.

As a fundamental policy, STPEX will make semi-annual offers to repurchase between 5% and 25% of its outstanding Shares at NAV. In connection with any given semi-annual repurchase offer, the Fund currently intends to repurchase 5% of its outstanding Shares. It is also possible that a repurchase offer may be oversubscribed, with the result that Shareholders may only be able to have a portion of their Shares repurchased.

An investment in the Fund involves risks. The Fund 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 Fund thereby making them difficult to liquidate. Use of leverage may increase the Fund’s volatility. The Fund is non-diversified, meaning it may concentrate its 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 prospectus for details of these and other risks.

The Fund’s investments in private equity assets involve a high degree of business and financial risk that can result in substantial losses and are subject to additional risks related to illiquidity, indirect fees, valuation, limited operating histories, and limited information regarding underlying investments. Shareholders will bear substantial direct and indirect fees and expenses in connection with their investment. In connection with the Fund’s investments in private equity assets, the Fund may hold a significant portion of its assets in cash and cash equivalents in support of unfunded commitments which may have a negative effect on overall performance. 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.

Past performance does not guarantee future results. Institutional-style investing broadly refers to investment management that meets the standards of large institutional investors like pensions, endowments and foundations, including rigorous underwriting, disciplined portfolio oversight, and robust operational controls.

The Fund is distributed by Distribution Services, LLC which is not affiliated with StepStone Group Private Wealth.

STPEX is a newly formed investment company with no operating history.

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