Nature-Based Investing: Suzanne Tavill

Nature provides the building blocks for civilization, arable soil, air and water filtration, ore and minerals for extraction, and economic and recreational opportunities. In almost any other context, you would expect to pay for these services. But with nature, we are wont to expect these things for nothing.

NAV Lending for Institutional Portfolios: Lisa Larsson

In this episode of RPM, Lisa Larsson, managing director on our portfolio management team, joins co-host Michael Venne to discuss the recently trending net asset value (NAV) lending.

Improving Access to Private Markets: Bob Long

Over the next five years, private capital assets under management are projected to grow from $10 trillion to $17 trillion. One of the leading reasons: the individual investor. In this episode of RPM, Bob Long, CEO of StepStone Private Wealth joins Michael Venne to discuss this trend.

The 2023 Private Equity Market Outlook: Aditya Raina and Laura White

In this episode of RPM, Aditya Raina and Laura White, two members of our Private Equity team, join co-host Maribel Yoo to discuss StepStone’s 2023 outlook for private equity.

The 2023 Private Debt Market Outlook: Ariel Goldblatt and Mark Tsang

In this episode of RPM, Ariel Goldblatt and Mark Tsang, senior members of our private debt team join co-host Maribel Yoo to discuss StepStone’s 2023 outlook for private debt.

StepStone Whitepapers | Fight the Urge (To Cut Back on Small Buyouts)

When the economy shrinks, consumers respond by paying down debt, saving more, and spending less on nonessential goods. Institutional investors, on the other hand, adjust the “tilts” of their portfolios. They allocate more to defensive assets like private debt and real assets and seek reassurance from larger, more familiar private equity fund managers.

We Don’t Value Nature

In just four years, more than 1,000 financial institutions representing $200 trillion in assets have signed on with the Task Force on Climate-related Financial Disclosures. In our view, this is a strong indication that support for nature will rise rapidly.

VC Market Landscape ft. John Avirett

In this episode of RPM, we're talking about the venture capital ecosystem as we navigate this challenging economic environment. The bottom line: With the right market conditions, and venture capital’s ability to navigate volatile markets, perhaps now is the time to take a closer look at this strategy.

Growth Equity - Feeling the L-O-V-E

Growth equity is no longer underappreciated. Over the last decade, the strategy has matured and attracted significant amounts of capital. Although the private market investment space has become more competitive, we believe the outlook for growth equity remains bright. To borrow from Nat King Cole, “growth” is feeling the L-O-V-E from GPs and LPs alike.

Data Valuation Engine: Qi Liu

In this episode of RPM, Qi Liu from our data, science and engineering team discusses one of our newest tools – the daily valuation engine (DVE). Typically, private market investors must wait anywhere from two to four months after quarter end to see how the value of their portfolios has changed; DVE, as the name implies, allows them to make this estimate well before general partners report.

Growth Equity ft. John Coelho

In this episode of RPM, we’re talking about growth equity with partner John Coelho. However you define “growth,” its champions regard it as a proverbial Goldilocks that offers VC upside with buyout-type risk (1:01). After analyzing 25,000+ private equity deals in SPI, we found that growth delivered a higher multiple than VC and lower loss rates than buyouts (11:05). This was especially true of investments in the software sector, which for several years has been the fastest growing and best performing sector in private equity. Since growth equity companies tend to be profitable and less reliant upon leverage, we find them to be particularly attractive during periods of market uncertainty (13:21).

Christian Frei: Geopolitical Uncertainty

In this episode of RPM, we’re talking about the direct and indirect effects of the war in Ukraine. While private markets may have relatively little direct exposure to Russia, Ukraine, Poland and Belarus (2:00), measuring the indirect effects is more difficult. In some instances, the higher prices and price inflation that the war may effect could provide a tailwind to some asset classes (10:40). Because private market valuations lag behind those of public markets, investors often wonder what the latter portends for the former. In short, private equity valuations fall half as much as their public equity counterparts; in private debt, market value declines have been 5x or greater than subsequent credit losses (12:56). All that is to say that an allocation to private markets can add stability to a portfolio.

Ryan Ramsey: Agriculture

In this episode of RPM, we’re talking about one of the oldest industries in the world—Agriculture. From inflation concerns (4:15) and the boom in venture-capital-backed technologies (12:46) to the rise of natural capital (15:40) and the democratization of private markets (21:30), “Ag” is having a moment. Joining us to discuss these topics and more is Ryan Ramsey, a principal on our infrastructure & real assets team based in Sydney.

A Road Map to Private Markets for Insurance Companies

In the 17th episode of RPM—Reflections on Private Markets, senior members of our private debt team, Marc-Andre Mittermayer and Marc Lickes join co-host Michael Venne to discuss insurance companies—namely, the reasons they are looking for alternatives to fixed-income investments; how private markets can help them meet their myriad investment-related goals; the affect regulatory policy has on an insurer’s investment options; and some of the traits insurers should look for in an investment manager or advisor.

Investing in Private Markets - A Road Map for Insurance Companies

Making an Impact - A Guide for Private Market Investors

From the Inn to the Institutional - The Growth of the Real Estate Secondaries Opportunity

Agriculture - Ripe for Institutional Investment

The Largest Investment Opportunity of Our Era - Decarbonizing the Global Economy

Understanding the Effects of Covid-19 on Direct Lending

Venture Capital - Partying Like It's 1999

Responsible Investing - Internalizing the Externality

The Hunt for Yield

Cracking the Illiquidity Code - Long-term Partnerships, Short-term Cash Flows

Private Equity in Latin America - Strong Opportunities Amidst Soft Economies

Co-investments - Good For Your Portfolio's Health