secwatch.observer — SEC 8-K summary
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Issuer:     StepStone Group Inc. (STEP)
CIK:        0001796022
Form:       8-K
Filed at:   2021-07-07T23:59:59+00:00
Accession:  0001193125-21-209305
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

StepStone to acquire VC/growth equity specialist Greenspring for $185M cash, 12.6M shares, plus earnout
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- Greenspring has $17B AUM and $9B FEAUM as of March 31, 2021.
- Consideration: $185M cash, 12,643,556 Class A shares, 3,114,723 Class C units; plus up to $75M earnout in 2025.
- Closing expected by end of 2021; subject to HSR, 85% client consent (StepStone condition), and other conditions.
- Combined VC/growth equity team of 70+ professionals managing ~$22B; StepStone's private equity team to 130 pros with $60B AUM.
- Company secured $175M bridge commitment from JPMorgan Chase to finance a portion of cash consideration.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1796022/000119312521209305/0001193125-21-209305-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1796022/000119312521209305/d197424d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-209305

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