StepStone Group opens a new office in Jeonju, South Korea, enhancing collaboration with the National Pension Service.
Quiver AI Summary
StepStone Group has opened a new office in Jeonju, North Jeolla Province, South Korea, furthering its relationship with the National Pension Service (NPS) and expanding its presence in the region. This marks StepStone's second office in South Korea, following its Seoul office established in 2014. The Jeonju office aims to enhance communication and collaboration with NPS, offering tailored services for their investment program. The opening ceremony was attended by leaders from both organizations, emphasizing the strength of their partnership and the goal of expanding access to global investment opportunities. StepStone Group manages approximately $709 billion in total capital and provides customized private market investment solutions to a diverse clientele, including major pension funds and private wealth clients.
Potential Positives
- StepStone Group's new office in Jeonju is a strategic expansion that strengthens its relationship with the National Pension Service (NPS), one of the world's largest institutional investors.
- The establishment of the Jeonju office enhances communication and collaboration, positioning StepStone to provide improved services and solutions tailored for NPS's investment programs.
- The opening ceremony included senior leadership from both StepStone and NPS, highlighting the significance of the partnership and commitment to working together on investment opportunities.
Potential Negatives
- Opening a second office in South Korea may indicate dependence on a single client, the National Pension Service, which could pose risks if that relationship changes or if the client faces financial difficulties.
- The focus on a single geographical area (Jeonju) might be viewed as a lack of diversification in StepStone’s operational footprint.
- The press release does not provide specific information on how this expansion will affect StepStone's financial performance or client service, potentially raising questions about the strategic justification behind the new office.
FAQ
What is the significance of StepStone's new office in Jeonju?
The new office represents StepStone's ongoing partnership with the National Pension Service, enhancing collaboration and service delivery.
When was the Jeonju office officially opened?
The opening ceremony for the Jeonju office took place on April 22, 2025.
How does StepStone serve its clients?
StepStone provides customized investment solutions and advisory services for clients, focusing on private equity, infrastructure, private debt, and real estate.
Who attended the Jeonju office opening ceremony?
Senior leaders from both StepStone and the National Pension Service, including Scott Hart and Kim Tae-hyun, were present at the ceremony.
What is the total capital managed by StepStone Group?
As of March 31, 2025, StepStone manages approximately $709 billion in total capital, including $189 billion in assets under management.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$STEP Insider Trading Activity
$STEP insiders have traded $STEP stock on the open market 17 times in the past 6 months. Of those trades, 0 have been purchases and 17 have been sales.
Here’s a breakdown of recent trading of $STEP stock by insiders over the last 6 months:
- MICHAEL I MCCABE (Head of Strategy) has made 0 purchases and 3 sales selling 251,118 shares for an estimated $15,046,017.
- SCOTT W HART (Chief Executive Officer) has made 0 purchases and 8 sales selling 77,909 shares for an estimated $4,796,912.
- JASON P MENT (See remarks) has made 0 purchases and 5 sales selling 57,308 shares for an estimated $3,478,089.
- ANTHONY KEATHLEY (Chief Accounting Officer) sold 538 shares for an estimated $33,894
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$STEP Hedge Fund Activity
We have seen 138 institutional investors add shares of $STEP stock to their portfolio, and 128 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MILLENNIUM MANAGEMENT LLC added 2,161,548 shares (+269.8%) to their portfolio in Q1 2025, for an estimated $112,897,652
- CITADEL ADVISORS LLC added 950,546 shares (+235.1%) to their portfolio in Q1 2025, for an estimated $49,647,017
- CIBC PRIVATE WEALTH GROUP LLC removed 897,585 shares (-63.7%) from their portfolio in Q1 2025, for an estimated $46,880,864
- AMERIPRISE FINANCIAL INC removed 518,647 shares (-78.4%) from their portfolio in Q1 2025, for an estimated $27,088,932
- VANGUARD GROUP INC added 481,385 shares (+6.9%) to their portfolio in Q1 2025, for an estimated $25,142,738
- INVESCO LTD. added 468,745 shares (+13.2%) to their portfolio in Q1 2025, for an estimated $24,482,551
- PRICE T ROWE ASSOCIATES INC /MD/ added 438,790 shares (+7.8%) to their portfolio in Q1 2025, for an estimated $22,918,001
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$STEP Analyst Ratings
Wall Street analysts have issued reports on $STEP in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Oppenheimer issued a "Outperform" rating on 04/16/2025
To track analyst ratings and price targets for $STEP, check out Quiver Quantitative's $STEP forecast page.
$STEP Price Targets
Multiple analysts have issued price targets for $STEP recently. We have seen 2 analysts offer price targets for $STEP in the last 6 months, with a median target of $64.5.
Here are some recent targets:
- Benjamin Budish from Barclays set a target price of $62.0 on 05/27/2025
- Chris Kotowski from Oppenheimer set a target price of $67.0 on 04/16/2025
Full Release
JEONJU, South Korea, June 04, 2025 (GLOBE NEWSWIRE) -- StepStone Group (Nasdaq: STEP), a global private markets solutions provider, has opened an office in Jeonju, North Jeolla Province, South Korea. The new office marks a continued expansion of StepStone’s long-standing relationship with the National Pension Service (NPS), one of the world’s largest institutional investors. This is StepStone’s second office in South Korea, following the establishment of its Seoul office in 2014.
“As we look to deepen our relationship with NPS, opening an office in Jeonju was a logical next step,” said JeeYoung Kim, a StepStone partner based in Seoul. “It will enhance communication and collaboration as we look to provide NPS with best-in-class service and solutions for their investment program.” The Jeonju office underscores StepStone’s ongoing commitment to regional engagement and operational excellence in service to its global institutional clients.
The opening ceremony, held on April 22, was attended by senior leadership from both organizations, including Kim Tae-hyun, Chairman of the National Pension Service, Scott Hart, CEO of StepStone Group, Jeff Giller, Head of StepStone Real Estate, and Marcel Schindler, Head of StepStone Private Debt.
“The opening of our Jeonju office reflects the strength of our partnership with NPS and our shared focus on expanding access to high-quality global investment opportunities,” said Scott Hart. “We are honored to support the important work of NPS and look forward to deepening our collaboration.”
About StepStone Group
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of March 31, 2025, StepStone was responsible for approximately $709 billion of total capital, including $189 billion of assets under management. 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.
Contacts
Shareholder Relations:
Seth Weiss
[email protected]
1-212-351-6106
Media:
Brian Ruby / Chris Gillick / Matt Lettiero, ICR
[email protected]
1-203-682-8268
