Improving Access to Private Markets: Bob Long

StepStone Reflections on Private Markets

Over the next five years, private capital assets under management are projected to grow from $10 trillion to $17 trillion. One of the leading reasons: the individual investor. In this episode of RPM, Bob Long, CEO of StepStone Private Wealth joins Michael Venne to discuss this trend. Among other things they cover:

  • The historical barriers to entry (3:24);
  • The emergence of tender funds (8:12);
  • An overview of two of our retail products (12:48); and
  • Liquidity management (18:56).

Read the transcript here.

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This podcast will cover an investment philosophy that is high risk and is considered illiquid with limitations on redemptions. Information regarding the private markets is limited and incomplete. Past performance is not a reliable indicator of future returns. This podcast is only a summary of a complicate investment and is not an offer or recommendation of any securities. Only a personal investment advisor can make a recommendation with the offering document that addresses fees, risks, investment objectives and limitations on distribution and redemption plans.

Before investing you should carefully consider the Funds investment objectives, risks, charges and expenses. This and other information can be found in the Fund’s prospectus, a copy of which may be obtained from StepStone Private Wealth at 704-215-4300. An investor should read the SPRIM and SPRING prospectus carefully before investing. Investors should also review the material available on with respect to the funds.

  • StepStone’s allocation process is managed independently by StepStone’s Finance team and ratified by the StepStone’s Legal and Compliance department. Allocation decisions may arise when there is more demand from the Fund and other StepStone clients for a particular investment opportunity, such as the capacity in an Investment Fund or a Direct Investment, than supply. StepStone employs an allocation policy designed to ensure that all of its clients will be treated fairly and equitably over time. The Fund’s portfolio manager has discretion to lower the allocation as appropriate for portfolio construction purposes.
  • SPRIM and SPRING follow an open architecture approach, identifying investments from a range of relationships and sources including company management teams and Investment Managers.

Closed-end Funds; Liquidity Risks. The Funds are non-diversified closed-end management investment companies designed primarily for long-term investors and not intended to be trading vehicles. An investor should not invest in the Funds if the investor needs a liquid investment. Closed-end funds differ from open-end management investment companies (commonly known as mutual funds) in that investors in a closed-end fund do not have the right to redeem their shares on a daily basis at a price based on NAV.

Dollar-cost averaging (DCA) is an investment strategy in which the intention is to minimize the impact of volatility by investing in smaller amounts at regular intervals over time. DCA does not assure a profit or protect

StepStone Group
StepStone Group

StepStone Group (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to our clients. 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.

W. Casey Gildea
Managing Director
450 Lexington Avenue, 31st Floor
New York, NY 10017

View the contributor page

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