StepStone Group, one of the world’s biggest investors in alternative assets, has hired several major investment banks as lead underwriters of its initial public offering (IPO) in New York, sources told Reuters earlier this month.
The company has enlisted the help of Goldman Sachs Group, Morgan Stanley, and JPMorgan Chase & Co. It has also registered its IPO confidentially with the U.S. Securities and Exchange Commission, an unnamed source revealed.
The IPO could take place as early as the first quarter of 2020, possibly in late February or March, depending on market conditions. The IPO could value StepStone in the neighborhood of $3.3 billion.
StepStone pursues opportunities in social and economic infrastructure around the world and has invested in all major subsectors, strategies and regions, according to the company’s website. StepStone has deployed $20 billion across funds and co-investments within those sectors.
