StepStone Private Markets Concludes Share Buyback Initiative with Positive Results

StepStone Private Markets has finalized its recent initiative to repurchase shares of beneficial interest, marking a significant moment for the fund and its stakeholders. This buyback offer, aimed at acquiring up to 5% of the fund's outstanding shares, demonstrates StepStone's commitment to maintaining shareholder value while reinforcing its overall financial standing.

Tender Offer Overview

Initially launched on August 12, 2024, the buyback was a strategic move to enhance shareholder returns. The fund set a deadline for shareholders to submit their tender offers by 4:00 PM Eastern Time on September 16, 2024. This timeline allowed investors sufficient time to evaluate their positions and decide on participating in the tender offer.

Valuation and Acceptance

As of the tender's closing date, the valuation of the shares was calculated, revealing significant interest from shareholders. The net asset value (NAV) for the shares tendered was reported as follows:

• Class I Shares:$44,785,157.31


• Class D Shares:$392,042.13


• Class S Shares:$1,283,345.44


• Class T Shares:$265,095.86

These figures highlight the robust participation from various shareholder classes, emphasizing the fund's attractiveness and the confidence investors have in its performance.

Shareholder Compensation

Upon accepting the tenders, StepStone Private Markets ensured that shareholders received full compensation based on their unaudited net asset value. Payments were executed on September 17, 2024, with funds directed to shareholders' accounts as specified in their respective Letters of Transmittal. This prompt payment process underscores StepStone's operational efficiency and dedication to its shareholders.

Final Observations

The completion of this share repurchase initiative is indicative of StepStone Private Markets' ongoing strategy to bolster its financial position while actively engaging with its investors. By successfully executing this tender offer, the fund not only reinforces its commitment to shareholder value but also showcases its confidence in continued growth and stability in the private markets sector.

The outcome of this buyback could set a precedent for future initiatives, as StepStone aims to navigate the complexities of the investment landscape while prioritizing the interests of its shareholders. This successful endeavor may attract further interest from potential investors, contributing to the fund's long-term success.