Investment firm StepStone Group sets terms for $280 million IPO

StepStone Group, a global private markets investment firm, announced terms for its IPO on Wednesday.

The New York, NY-based company plans to raise $280 million by offering 17.5 million shares at a price range of $15 to $17. At the midpoint of the proposed range, StepStone Group would command a fully diluted market value of $1.6 billion.

StepStone Group was founded in 2007 and booked $286 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol STEP. J.P. Morgan, Goldman Sachs, Morgan Stanley, Barclays and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of September 14, 2020.

The article Investment firm StepStone Group sets terms for $280 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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