StepStone Group has introduced its newest private markets investment vehicle with the launch of the StepStone Private Equity Strategies Fund. This evergreen interval fund has already attracted more than $750 million since its debut in September.
The fund, known by its ticker STPEX, is one of the first pure private equity strategies of its kind available for purchase through major custodian platforms, designed to provide broad access to private equity through a simplified structure.
The new fund invests in private equity assets managed by leading sponsors identified by StepStone’s global private equity team. Its strategy focuses on long-term capital appreciation through a diversified portfolio constructed mainly through secondary transactions and co-investments. StepStone noted that STPEX is targeted toward individual investors, financial advisors and institutions seeking exposure to buyout and growth equity opportunities within an evergreen format.
STPEX is managed alongside the firm’s institutional programs by a global team of more than 190 private equity professionals responsible for $389 billion of capital as of September 30, 2025. As an evergreen structure, the fund accepts daily inflows while offering semi-annual liquidity through redemptions, which are expected to reach up to 5 percent of the net asset value.
The launch of STPEX expands the StepStone Private Wealth Solutions platform, joining existing funds that span private markets strategies, including private markets, venture and growth, infrastructure, and private credit. The firm emphasized that the new offering was developed to meet the growing demand for private equity access within structures designed for broader adoption.
StepStone Group continues to grow its presence in the private wealth and institutional markets. As of September 30, 2025, the firm oversaw approximately $771 billion in total capital, including $209 billion in assets under management, serving global pension plans, sovereign wealth funds, insurers, endowments, foundations, family offices, and private wealth clients. StepStone builds private markets portfolios across private equity, infrastructure, private debt, and real estate to help clients meet long-term objectives.
KEY QUOTES:
“We are grateful for the strong engagement and support from this initial cohort of STPEX investors and look forward to welcoming more. As we continue to scale the Fund and deploy more capital, we remain focused on making investments of the highest quality as we receive inflows from investors. Similar to our other evergreen products, STPEX has access to StepStone’s highly sophisticated deal sourcing engine while the investment team seeks to construct a portfolio that is diversified by industry, manager, and vintage.”
Scott Hart, CEO of StepStone Group
“Consistent with StepStone’s history and approach to private wealth, we launched STPEX after listening carefully to our partners’ feedback and creating a solution seeking to match their objectives. In this case, our partners in the wealth management channel sought to access a private equity focused strategy through an evergreen structure with low minimums and daily valuation. We believe that we have delivered that with STPEX, bolstering our track record of industry innovation and expanding access to a broader group of investors.”
Bob Long, CEO of StepStone Private Wealth Solutions
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