StepStone closes 2025 Exchange, acquires ~5% each in SRE/SRA/SPD for $11M cash and 756K shares

StepStone Group Inc.

Completed second exchange under Feb 2024 transaction agreements for equity in three asset class entities.
Consideration: $11M cash, 756,105 Class A shares, and 2,438,403 Class D Units; all unregistered.
Ownership increased to ~60% of SRE and SRA, and ~61% of SPD after the exchange.
Class A shares issued to SPD seller subject to transfer restrictions; Class D Units exchangeable for Class A.

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