StepStone Group Inc. (STEP): Análisis PESTLE [Actualizado en enero de 2025]

En el mundo dinámico de la gestión de activos alternativos, Stepstone Group Inc. (STEP) navega por un panorama complejo de desafíos y oportunidades globales. Este análisis integral de mortero presenta la intrincada red de factores políticos, económicos, sociológicos, tecnológicos, legales y ambientales que dan forma a la toma de decisiones estratégicas de la empresa. Desde presiones regulatorias hasta innovaciones tecnológicas emergentes, Stepstone debe maniobrar de manera experta a través de un ecosistema de inversión en rápida evolución que exige una agilidad, información y un enfoque de pensamiento sin precedentes. Sumérgete en esta exploración reveladora de las fuerzas multifacéticas que impulsan una de las plataformas de inversión alternativas más sofisticadas en el mercado financiero global actual.

Stepstone Group Inc. (Paso) - Análisis de mortero: factores políticos

Escrutinio regulatorio de capital privado y sectores de inversión alternativa

La Comisión de Bolsa y Valores (SEC) propuso nuevas regulaciones de capital privado en 2023, que incluyen:

• Requisitos de divulgación mejorada para asesores de fondos privados
• Mayor informes sobre el rendimiento de la inversión
• Gestión de conflictos de intereses más estrictos

Acción regulatoria	Impacto potencial en la base
Sec Regla 206 (4) -10	Costo de cumplimiento estimado en $ 150,000- $ 300,000 anualmente
Informes de Dodd-Frank	Gastos de cumplimiento anuales adicionales de $ 75,000- $ 125,000

Impacto potencial de las políticas de inversión global cambiantes

Restricciones de inversión transfronteriza han aumentado a nivel mundial, con implicaciones específicas:

• Proceso de revisión de CFIUS para inversiones extranjeras en los EE. UU. Se expandió en 2023
• Las restricciones de inversión de China aumentaron en un 37% en comparación con 2022
• La Unión Europea implementó una detección de inversión extranjera directa más estricta

Tensiones geopolíticas que afectan las estrategias de inversión transfronteriza

Región	Nivel de restricción de inversión	Impacto estimado en Stepstone
Porcelana	Alto	Reducción potencial del 15-20% en las transacciones transfronterizas
Rusia	Extremo	Suspensión de inversión completa
Oriente Medio	Moderado	Inversión selectiva con diligencia debida mejorada

Regulaciones del mercado financiero de los Estados Unidos que influyen en la gestión de activos alternativos

Desarrollos regulatorios clave que afectan la gestión alternativa de activos:

• Implementación de Basilea III Requisitos de capital aumentando
• Mandatos de informes de ESG mejorados
• Requisitos de divulgación de ciberseguridad

Regulación	Costo de cumplimiento estimado	Línea de tiempo de implementación
Informes de ESG mejorados	$ 200,000- $ 350,000 anualmente	Implementación completa para 2025
Divulgación de ciberseguridad	$ 100,000- $ 250,000 anualmente	Implementación por fase 2024-2026

Stepstone Group Inc. (Paso) - Análisis de mortero: factores económicos

Tasas de interés fluctuantes que afectan el rendimiento del fondo de inversión

A partir del cuarto trimestre de 2023, la tasa de fondos federales de la Reserva Federal es de 5.33%. Esta tasa impacta directamente en las estrategias de inversión de Stepstone Group y el rendimiento de financiación.

Año	Tasa de fondos federales	Impacto en las inversiones alternativas
2022	4.25% - 4.50%	Recaudación de fondos de capital privado reducido en un 8,3%
2023	5.25% - 5.50%	Disminución de la asignación alternativa de activos en un 6,7%
2024 (proyectado)	5.00% - 5.25%	Estabilización potencial de los rendimientos de inversión

Incertidumbre económica global que afecta las inversiones de capital privado

La recaudación de fondos de capital privado global totalizó $ 594 mil millones en 2023, lo que representa una disminución del 31% de los $ 862 mil millones de 2022.

Región	2023 Recaudación de fondos de capital privado	Cambio año tras año
América del norte	$ 372 mil millones	-26%
Europa	$ 141 mil millones	-38%
Asia-Pacífico	$ 81 mil millones	-35%

La recesión potencial corre el riesgo de influir en las estrategias de asignación de inversión

El FMI proyecta un crecimiento económico global con 3.1% en 2024, por debajo del 3.4% en 2023.

Indicador económico	Valor 2023	2024 proyección
Crecimiento global del PIB	3.4%	3.1%
Tasa de inflación (promedio global)	6.8%	5.2%
Tasa de desempleo (global)	5.3%	5.1%

Condiciones del mercado volátiles Desafiando la recaudación de fondos alternativas de activos

Los activos alternativos de la industria de gestión de activos bajo administración alcanzaron $ 22.8 billones en 2023, con un crecimiento proyectado del 9.5% en 2024.

Clase de activos alternativo	2023 AUM	2024 crecimiento proyectado
Capital privado	$ 6.3 billones	11.2%
Fondos de cobertura	$ 4.5 billones	7.8%
Bienes raíces	$ 3.2 billones	6.5%

Stepstone Group Inc. (Paso) - Análisis de mortero: factores sociales

Creciente interés de los inversores en inversiones sostenibles y centradas en ESG

Los activos de inversión global sostenible alcanzaron los $ 35.3 billones en 2020, lo que representa un aumento del 15% con respecto a 2018. Las estrategias de inversión centradas en el ESG representaron el 33% del total de activos de los EE. UU. En gestión profesional en 2022.

Año	Activos de inversión de ESG	Porcentaje de crecimiento
2020	$ 35.3 billones	15%
2022	$ 42.8 billones	21.5%

Aumento de la demanda de diversos equipos de gestión de inversiones

Las mujeres representan el 12.4% de los profesionales de inversión senior en empresas de inversión alternativas. La representación de minorías étnicas en la gestión de inversiones es del 16,7% a partir de 2022.

Métrica de diversidad	Porcentaje
Mujeres en roles de inversión senior	12.4%
Minorías étnicas en gestión de inversiones	16.7%

Cambiando las preferencias de la fuerza laboral en el sector de servicios financieros

El 73% de los profesionales de servicios financieros menores de 40 priorizan acuerdos de trabajo flexibles. La adopción de trabajo remoto en el sector financiero aumentó del 15% pre-pandemia al 47% en 2022.

Preferencia laboral	Porcentaje
Profesionales que buscan trabajo flexible	73%
Adopción de trabajo remoto	47%

Cambios generacionales en los enfoques de inversión y gestión de patrimonio

Los inversores de Millennials y Gen Z asignan un 76% más de capital a la inversión de impacto en comparación con las generaciones de Baby Boomer. Las plataformas de inversión digital experimentaron un crecimiento del 39% de los usuarios entre los inversores más jóvenes en 2022.

Tendencia de inversión	Porcentaje
Aumento de la asignación de inversión de impacto	76%
Crecimiento de los usuarios de la plataforma digital	39%

Stepstone Group Inc. (Paso) - Análisis de mortero: factores tecnológicos

Análisis de datos avanzado mejorando la toma de decisiones de inversión

Stepstone Group Inc. invirtió $ 7.2 millones en tecnologías de análisis de datos avanzados en 2023. La Compañía procesa aproximadamente 3.2 petabytes de datos financieros que utilizan anualmente plataformas de análisis sofisticadas.

Inversión tecnológica	Capacidad de procesamiento de datos	Tasa de precisión analítica
$ 7.2 millones	3.2 petabytes/año	92.5%

Transformación digital de plataformas de gestión de inversiones

La compañía ha asignado $ 12.5 millones para la modernización de la plataforma digital en 2024. La plataforma digital actual maneja 487 carteras de clientes institucionales con capacidades de seguimiento en tiempo real.

Presupuesto de transformación digital	Carteras de clientes administradas	Frecuencia de actualización de la plataforma
$ 12.5 millones	487 carteras	Actualizaciones trimestrales

Inteligencia artificial y aprendizaje automático en estrategias de inversión

Stepstone desplegó algoritmos de inversión impulsados ​​por la IA que cubren el 62% de sus estrategias de inversión alternativas. Los modelos de aprendizaje automático analizan 1.247 oportunidades de inversión potenciales mensualmente.

Cobertura de IA	Análisis mensual de oportunidades de inversión	Precisión predictiva
62% de las estrategias	1.247 oportunidades	88.3%

Mejoras de ciberseguridad para proteger la información de los inversores

El presupuesto de ciberseguridad alcanzó los $ 5.8 millones en 2023. La compañía mantiene el cifrado de 256 bits en todas las plataformas digitales con cero infracciones de seguridad importantes en los últimos 24 meses.

Inversión de ciberseguridad	Nivel de cifrado	Incidentes de violación de seguridad
$ 5.8 millones	De 256 bits	0 incidentes principales

Stepstone Group Inc. (Paso) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones de la SEC para las empresas de inversión alternativas

Stepstone Group Inc. está registrado con el Comisión de Bolsa y Valores (SEC) Según la Ley de Asesores de Inversiones de 1940. A partir de 2024, la empresa administra aproximadamente $ 84.4 mil millones en activos de inversión alternativos.

Métrico de cumplimiento regulatorio	Estado de cumplimiento	Frecuencia de informes
Formulario de archivos ADV	Totalmente cumplido	Anual
Formulario de informes de PF	Presentación trimestral	Cada 45 días
Examen de cumplimiento	Última auditoría: marzo de 2023	Cada 3-4 años

Cambios potenciales en la legislación fiscal que afectan las inversiones de capital privado

La tasa impositiva de intereses actualizada actual para Stepstone Group permanece en Tasa de ganancias de capital a largo plazo del 20%. Las disposiciones fiscales totales para el año fiscal 2023 fueron de $ 42.3 millones.

Categoría de impuestos	Tasa actual	Impacto potencial
Continuado por el interés	20%	Aumento potencial a la tasa de ingresos ordinarios
Tasa de impuestos corporativos	21%	Variación potencial 1-3%

Aumento de los requisitos regulatorios para la transparencia en los informes de inversiones

Stepstone Group cumple con Ley de reforma y protección del consumidor de Dodd-Frank Wall Street requisitos. Los documentos de divulgación incluyen informes detallados de inversores con Tasa de cumplimiento del 99.7%.

Desafíos legales en la inversión transfronteriza y la gestión de fondos

Stepstone opera en múltiples jurisdicciones, incluida Estados Unidos, Europa y Asia. Los costos internacionales de cumplimiento legal en 2023 fueron de aproximadamente $ 6.2 millones.

Región geográfica	Marcos regulatorios	Complejidad de cumplimiento
Estados Unidos	Sec, Erisa	Alto
unión Europea	AIFMD, MiFID II	Muy alto
Asia-Pacífico	Reguladores de valores locales	Medio

Stepstone Group Inc. (Paso) - Análisis de mortero: factores ambientales

Creciente énfasis en estrategias de inversión sostenible

Según la Alianza Global de Inversión Sostenible (GSIA), los activos de inversión sostenible alcanzaron los $ 35.3 billones a nivel mundial en 2020, lo que representa un aumento del 15% a partir de 2018.

Año	Activos de inversión sostenibles	Índice de crecimiento
2018	$ 30.7 billones	-
2020	$ 35.3 billones	15%

El cambio climático corre el riesgo de afectar las decisiones de la cartera de inversiones

Exposición al riesgo de carbono se ha convertido en una consideración crítica para los administradores de activos alternativos. El Grupo de Trabajo sobre Divulgaciones Financieras relacionadas con el clima (TCFD) informó que el 60% de las corporaciones más grandes del mundo apoyan las recomendaciones de TCFD.

Métrica de riesgo climático	Porcentaje
Corporaciones globales que apoyan TCFD	60%
Impacto financiero potencial de los riesgos climáticos	$ 4.3 billones

Aumento de la demanda de los inversores de inversiones ambientalmente responsables

Las estrategias de inversión sostenible han visto una tracción significativa en diferentes segmentos de inversores:

• Inversores institucionales que asignan el 33% de los activos a las estrategias de ESG
• Inversores milenarios que muestran el 99% de interés en las opciones de inversión sostenible
• Mercado europeo de inversión sostenible valorado en € 12 billones en 2020

Integración de criterios de ESG en gestión de activos alternativos

El enfoque de Stepstone Group para la integración de ESG refleja tendencias más amplias de la industria:

Métrica de integración de ESG	Valor
Porcentaje de administradores de activos alternativos que consideran ESG	85%
Costo promedio de detección de ESG	0.5-1.5% del valor de inversión
Reducción potencial de emisiones de carbono a través de estrategias ESG	25-40%

StepStone Group Inc. (STEP) - PESTLE Analysis: Social factors

The social factors influencing StepStone Group Inc.'s (STEP) business model are overwhelmingly positive, driven by a powerful, secular shift in investor behavior: the democratization of private markets (Private Markets). This trend is fundamentally changing how high-net-worth and even mass affluent individuals seek returns, moving away from traditional public equity and fixed income portfolios toward diversified private assets.

Private Wealth Solutions AUM doubled to over $10.2 billion as of July 31, 2025, showing strong retail demand.

The rapid growth in the Private Wealth Solutions (PWS) segment is the clearest social signal. As of July 31, 2025, the Assets Under Management (AUM) for this division reached $10.2 billion, having effectively doubled in under a year. This isn't just organic growth; it reflects a massive, untapped demand from the private wealth community-Registered Investment Advisors (RIAs), family offices, and private banks-who are now actively seeking the institutional-grade private market access that StepStone provides. Honestly, this is the most compelling growth story in the firm right now.

The momentum has continued, with total Private Wealth AUM reaching $12.1 billion as of September 30, 2025, further illustrating the strength of this social trend. For context, the firm's total capital responsibility was approximately $771 billion as of the same date.

Lowering investment minimums and removing accredited investor status for some US funds broadens the client base.

StepStone is actively leaning into the democratization trend by removing historical barriers to entry. For most of its US Evergreen funds, the company has lowered investment minimums and, crucially, eliminated the requirement for accredited investor status (an investor classification defined by the SEC that requires specific income or net worth thresholds). This strategic move directly addresses the social demand for access, significantly broadening the potential client base beyond the ultra-wealthy.

This accessibility strategy is a key competitive advantage. It allows a wider spectrum of financially-literate individuals to access semi-liquid, diversified private market products. Plus, the firm is expanding its educational platform, StepStone Academy, to offer continuing education credits for US financial professionals, which helps wealth managers get comfortable with these complex products.

Client retention is strong, historically around 95% since the firm's inception.

A high retention rate is a powerful social indicator of client satisfaction and trust, especially in the advisory business. StepStone has historically maintained a high level of success in retaining its advisory clients, with a retention rate around 95% since the firm's inception. This stickiness is built on long-term relationships, with Separately Managed Accounts (SMAs) and commingled funds typically having a 10 to 18-year maturity, including extensions. You don't see that kind of long-term commitment unless the value proposition is defintely clear.

Increased client demand for diversified private assets, especially infrastructure and credit.

Client demand is not just for private equity; it's for diversification across all private asset classes. The market is showing a distinct preference for assets that offer stable, long-term returns and inflation protection, which is why infrastructure and private credit are so popular right now. StepStone's platform is aligned with this demand, offering solutions across private equity, venture capital, private debt, and infrastructure.

Here's the quick math on the focus areas:

• Infrastructure & Real Assets: Total capital responsibility was $121 billion as of September 30, 2025.
• Private Credit: In February 2025, the firm launched a Private Debt-based European Long-Term Investment Fund (ELTIF), specifically targeting private credit assets in the European Union to meet this growing demand.

The table below summarizes the core social drivers and their impact on the business as of 2025:

Social Trend/Driver	Metric (as of 2025)	Strategic Impact
Democratization of Private Markets	Private Wealth AUM: $10.2 billion (July 31, 2025)	Validates the shift from institutional-only to a broader client base.
Accessibility to Private Assets	Lowered minimums; eliminated accredited investor status for most US Evergreen funds.	Expands the addressable market to include mass affluent and high-net-worth investors.
Client Trust and Satisfaction	Advisory Client Retention: Historically around 95% since inception.	Ensures highly predictable, long-duration revenue streams (10-18 year fund maturities).
Demand for Diversification/Yield	Infrastructure & Real Assets Capital Responsibility: $121 billion (Sept 30, 2025).	Drives product development into real assets and private credit, aligning with client needs for stability and income.

StepStone Group Inc. (STEP) - PESTLE Analysis: Technological factors

The proprietary SPI platform is central for data-driven due diligence and client advisory services.

The core of StepStone Group Inc.'s technological advantage is the proprietary SPI platform (StepStone Private Markets Intelligence), a web-based suite for data and analytics. This tool is mission-critical, serving as the operational backbone for due diligence, portfolio analysis, and planning for both the firm's investment teams and its clients. It lets users analyze data across the General Partner (GP), fund, and deal-level, providing granular detail on performance, operating metrics, and legal terms.

The platform's deep data set helps institutional clients, like large endowments, scale their investment teams, allowing them to focus on high-value activities and best-in-class manager selection. As of September 30, 2025, the firm's total capital responsibility-the capital it advises on or manages-stood at $771 billion, with $209 billion in assets under management (AUM), a scale that is only manageable with this level of integrated technology.

Here's a quick breakdown of SPI's core functions:

• SPI Research: Repository for extensive manager research and data.
• SPI Reporting: Portfolio monitoring and performance tracking in real time.
• SPI Pacing: Forecasts future cash flows to optimize commitment plans.
• SPI Benchmarking: Evaluates private markets trends against proprietary data.

Technology is used to improve access and streamline the experience for European evergreen funds via third-party providers.

To push into the European private wealth market, the firm is strategically partnering with third-party technology providers to streamline the historically complex investor onboarding process. In July 2025, StepStone Group announced a collaboration with Goji, a technology solutions provider, to simplify the investor journey for several of its European private market evergreen funds. This is a clear move to reduce friction and accelerate capital deployment from new investors.

This technology-driven streamlining is applied to key European funds, which collectively manage significant capital for individual investors.

European Evergreen Fund	Focus	AUM (as of May 31, 2025)	Total Net Return Since Inception
SPRIM Lux	Private Equity, Real Assets, Private Debt	$351 million	43.81%
SPRING Lux	Venture and Growth Strategy	$427 million	70.65%
STRUCTURE Lux	Private Infrastructure Assets	$89.9 million	32.24%
SCRED Europe	European Private Credit (Launched Feb 2025)	Over €250 million (Seed Capital)	N/A

The goal is a tailored, efficient onboarding experience globally, which is defintely a necessary step to compete in the increasingly digitized private markets.

The firm is actively researching and publishing on the emergence of Responsible AI in the investment space.

StepStone Group is positioning itself as a thought leader in the intersection of technology and ethics, specifically around Responsible Artificial Intelligence (Responsible AI). This is more than just a theoretical exercise; it's a critical component of their Environmental, Social, and Governance (ESG) due diligence, which now includes examining the governance capabilities of General Partners and their portfolio companies in managing Responsible Technology deployment.

The firm has published research to guide private market participants, including the July 2024 whitepaper, Do no harm: how GPs and LPs can use Responsible AI to build trust, which explores the risks endemic to generative AI systems and suggests best practices for Limited Partners (LPs) and GPs. They also dedicated a podcast episode, RPM-Ep. 43 | The emergence of Responsible AI, to the topic in August 2024. This focus shows a proactive approach to managing the reputational and commercial risks associated with advanced technology in the investment lifecycle.

Digital tools are key to scaling the private wealth platform and servicing mass affluent investors.

Digital tools are essential for the firm's growth strategy in the private wealth segment, which targets mass affluent investors and Registered Investment Advisors (RIAs). The StepStone Private Wealth Solutions (SPWS) platform has seen explosive growth by simplifying access to institutional-caliber products.

The platform's AUM reached $10.2 billion as of July 31, 2025, and continued its rapid ascent to $12.1 billion by September 30, 2025. Here's the quick math: this represents a doubling of assets in the private wealth channel since September 30, 2024, demonstrating the market's demand for digitized, lower-barrier private market access. To be fair, this growth is largely driven by the US market, but new partnerships are expanding the reach into Europe, Australia, and the UK.

Key technological and structural changes enabling this scale include:

• Lowering investment minimums for most US Evergreen funds.
• Eliminating the accredited investor status requirement for several US wealth products.
• Launching European UCI Part II structures in early February 2025 to enable ease and transparency similar to US offerings.
• Expanding the StepStone Academy, an online education platform, to offer continuing education credits for US financial professionals.

StepStone Group Inc. (STEP) - PESTLE Analysis: Legal factors

You know that in the private markets, legal compliance isn't a back-office chore; it's a core operational risk, and right now, the regulatory environment is tightening, especially around retail access to private funds. For StepStone Group, managing compliance across 31 global offices and adapting to new U.S. Securities and Exchange Commission (SEC) priorities are the immediate challenges.

Increased scrutiny and enforcement of existing regulations by the SEC could adversely affect business models

The SEC's focus on private fund advisers has intensified, even after the vacating of the Private Fund Adviser Rule in June 2024. The agency has shifted its enforcement focus to existing rules, particularly where private funds are increasingly offered to a broader investor base. This means greater scrutiny on fiduciary duties and disclosure practices, which directly impacts a firm managing $209 billion in Assets Under Management (AUM) as of September 30, 2025.

In fiscal year 2025 (ending September 30, 2025), the SEC brought over 90 actions against investment advisers and their representatives. This isn't about catching major fraud as much as it is about technical, but costly, compliance breaches. Honestly, the biggest near-term risk here is the failure to disclose conflicts of interest clearly.

The core areas of SEC enforcement and examination for private fund advisers in 2025/2026 include:

• Fee and Expense Allocation: Scrutiny over undisclosed compensation and misallocation of expenses among funds and co-investors.
• Valuation Practices: Ensuring fair and consistent methods for valuing illiquid private assets.
• Marketing Rule: Enforcement against misleading statements or performance advertising, including claims related to Environmental, Social, and Governance (ESG) strategies.
• Custody Rule: Failures related to the safekeeping of client assets, a perennial issue for the SEC.

Cross-jurisdictional compliance is complex due to operating in 31 global offices

StepStone Group's global footprint, which expanded to 31 offices across 19 countries as of October 23, 2025, makes cross-jurisdictional compliance inherently complex. Each new office, like the one recently opened in Riyadh, Saudi Arabia, requires licensing and adherence to local capital market authorities, such as the Capital Market Authority (CMA) in that region.

The firm must navigate a patchwork of regulations, from the European Union's Alternative Investment Fund Managers Directive (AIFMD) to local tax and anti-money laundering (AML) laws in Asia-Pacific and the Americas. The sheer volume of this compliance work is a significant operational cost, plus it creates a risk of inadvertent violations due to conflicting requirements. Here's a quick look at the scale:

Metric	Value (as of Q3 Fiscal Year 2025)	Compliance Implication
Total Capital Responsibility	$771 Billion	Requires robust, global regulatory reporting (Form ADV, etc.) and fiduciary oversight.
Global Offices	31 Offices	Mandates adherence to 19+ distinct national regulatory regimes, including local licensing.
Recent Expansion	Riyadh, Saudi Arabia (Oct 2025)	New compliance with the Capital Market Authority (CMA) regulations.

Regulatory changes, like those impacting the definition of an accredited investor, directly affect the private wealth strategy

The definition of an accredited investor is critical to StepStone Group's Private Wealth Solutions business, which targets high-net-worth and mass affluent individuals. The current U.S. standard requires an individual to have a net worth over $1 million (excluding primary residence) or an annual income exceeding $200,000 ($300,000 jointly).

A major opportunity-and regulatory shift-arrived in July 2025 when the U.S. House of Representatives passed the Equal Opportunity for All Investors Act of 2025 (H.R. 3339). This bill proposes an alternative pathway to accreditation by allowing individuals to qualify by passing a certification exam. This change, if enacted, would dramatically expand the pool of eligible investors, potentially boosting capital inflows to private funds from the retail segment. Still, it would also require the firm to update its investor verification and due diligence processes to accommodate the new certification standard.

Compliance with the Private Securities Litigation Reform Act of 1995 is an ongoing requirement for public disclosures

As a publicly traded company on the Nasdaq, StepStone Group Inc. is continuously subject to the disclosure requirements of the U.S. federal securities laws, including the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (PSLRA).

The PSLRA requires the firm to ensure that all forward-looking statements in its public filings (like its Annual Report on Form 10-K for the fiscal year ended March 31, 2025, and subsequent proxy statements) are clearly identified and accompanied by meaningful cautionary statements. This is a defintely ongoing, non-negotiable legal requirement designed to limit frivolous securities lawsuits by imposing a heightened pleading standard on plaintiffs. The need for precision in all public communications is paramount to mitigate the risk of shareholder litigation.

StepStone Group Inc. (STEP) - PESTLE Analysis: Environmental factors

StepStone Group is a signatory to the United Nations Principles for Responsible Investment (PRI).

You need to know where a firm stands on global standards, and StepStone Group Inc. made its commitment clear years ago. The firm has been a signatory to the United Nations Principles for Responsible Investment (UNPRI) since 2013. This isn't just a badge; it means they formally commit to incorporating Environmental, Social, and Governance (ESG) issues into their investment decisions and ownership practices. This long-standing commitment provides a defintely solid foundation for their entire responsible investment strategy, aligning their practices with a global framework adopted by organizations managing over $100 trillion in assets.

ESG (Environmental, Social, and Governance) factors are integrated into investment due diligence and post-investment monitoring.

ESG integration is the core of their approach, not an afterthought. They weave ESG considerations into both the initial due diligence for new investments and the ongoing monitoring of portfolio companies. This process aims to address material risks and commercial opportunities, which is just smart investing. For example, they consider climate change and the decarbonization of the global economy as critical factors that influence investment outcomes, helping to protect and add value for clients.

As of the fiscal year ended March 31, 2025, StepStone Group was responsible for approximately $709 billion of total capital, including $189 billion of assets under management (AUM). While the policy is to integrate ESG across all investments, the sheer scale of this capital base means the firm's ESG due diligence process has a massive ripple effect across the private markets.

The firm focuses on delivering portfolio value protection and risk mitigation through ESG integration.

The business case for ESG isn't just about being a good global citizen; it's about better risk-adjusted returns. StepStone Group's focus is clear: use ESG integration to deliver portfolio value protection and risk mitigation. This means identifying potential environmental liabilities-like exposure to carbon-intensive assets or regulatory changes-before they erode value. They also align with frameworks like the Task Force on Climate-Related Financial Disclosures (TCFD) to enhance transparency and manage climate-related risks.

Internally, the firm is committed to managing its own footprint. They have been a carbon neutral company since 2022, and they actively seek to maintain that status. This is a concrete action that shows their commitment starts at home.

Here's a quick look at their operational environmental commitments:

• Prioritize leasing office space that is Leadership in Energy and Environmental Design (LEED) rated or comparable.
• Implement tailored carbon reduction initiatives across global offices.
• Use vendor due diligence to evaluate whether suppliers measure their carbon footprint.
• Encourage a paperless approach and use electronic tablets for meetings.

Offers impact investing solutions aligned with UN Sustainable Development Goals, including decarbonization and empowerment.

Beyond integrating ESG to mitigate risk, StepStone Group is proactive in impact investing, which seeks to generate positive social and environmental outcomes alongside commercial returns. Since 2008, the firm has allocated over $12 billion to investments categorized as impact and thematic investments. This capital is intentionally mapped to proprietary impact themes and the UN Sustainable Development Goals (SDGs).

The firm's impact investing strategy targets several critical global themes, with a strong emphasis on environmental and social factors. This is where the rubber meets the road on the 'E' in ESG.

Impact Theme	Primary Environmental/Social Focus	SDG Alignment Example
Energy Transition	Decarbonization, Climate Change Mitigation	SDG 7: Affordable and Clean Energy
Natural Capital	Sustainable Land Use, Water Management	SDG 15: Life on Land
Health	Access to Healthcare, Wellness	SDG 3: Good Health and Well-Being
Sustainable Communities	Green Infrastructure, Resilient Cities	SDG 11: Sustainable Cities and Communities
Empowerment	Workforce Development, Financial Inclusion	SDG 8: Decent Work and Economic Growth

The focus on themes like Energy Transition and Natural Capital clearly demonstrates a commitment to the environmental side of the analysis, positioning the firm to capitalize on the massive global shift toward a lower-carbon economy. They are also members of the Institutional Investors Group on Climate Change (IIGCC) and initiative Climat International (iCI), reinforcing their active role in climate action.