secwatch.observer — SEC 8-K summary
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Issuer:     StepStone Group Inc. (STEP)
CIK:        0001796022
Form:       8-K
Filed at:   2021-09-20T23:59:59+00:00
Accession:  0001193125-21-277301
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 2.01, 2.03, 3.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

StepStone completes Greenspring acquisition; adds $9.5B fee-earning AUM, combined AUM $109B
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- Total consideration: ~$185M cash, 12.7M Class A shares, 3.07M Class C units (exchangeable for Class A).
- Earnout of up to $75M payable in 2025 based on 2024 management fee revenue targets.
- $225M multicurrency credit facility (5-yr maturity) used to fund cash portion of consideration.
- Greenspring adds $9.5B fee-earning AUM and $18.9B total AUM as of June 30, 2021.
- Combined firm: $109B AUM, $375B AUA, over 70 VC/growth professionals globally.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1796022/000119312521277301/0001193125-21-277301-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1796022/000119312521277301/d173286d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-21-277301

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer