StepStone completes first annual exchange to acquire ~5% stakes in three asset class entities, now owns 54-56% of each

StepStone Group Inc.

Now owns 56% of SRE, 54% of SIRA, and 55% of SPD after acquiring ~5% stakes from sellers.
Aggregate consideration paid: ~$13M cash, 513,394 shares of Class A Common Stock, and 2,239,185 Class D Units.
Tenth A&R LPA creates Class D Units; rights substantially similar to existing Class C Units.
Class D Units exchangeable for Class A Common Stock on one-for-one basis after max 1-2 year restriction.
Second A&R Registration Rights Agreement grants sellers demand, shelf, and piggyback registration rights.

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