February 14, 2022
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. Among other things they cover:
- The historical barriers preventing individuals from investing in private markets (3:24);
- How markets have evolved to address these challenges (8:12);
- Two of our products that offer convenient, transparent and efficient access to private markets, SPRIM (10:31) and SPRING (12:48); and
- How managers of tender funds like SPRIM and SPRING deal with the tension between liquidity and realizations (18:56).
Read the transcript here.
RPM is available on Apple Podcasts, Spotify, Stitcher—anywhere you normally get your podcasts. Subscribe today!
This podcast will cover an investment philosophy that is high risk and is considered illiquid with limitations on redemptions. Information regarding the private markets is limited and incomplete. Past performance is not a reliable indicator of future returns. This podcast is only a summary of a complicate investment and is not an offer or recommendation of any securities. Only a personal investment advisor can make a recommendation with the offering document that addresses fees, risks, investment objectives and limitations on distribution and redemption plans.
Before investing you should carefully consider the Funds investment objectives, risks, charges and expenses. This and other information can be found in the Fund’s prospectus, a copy of which may be obtained from StepStone Private Wealth at 704-215-4300. An investor should read the SPRIM and SPRING prospectus carefully before investing. Investors should also review the material available on stepstonepw.com with respect to the funds.
- StepStone’s allocation process is managed independently by StepStone’s Finance team and ratified by the StepStone’s Legal and Compliance department. Allocation decisions may arise when there is more demand from the Fund and other StepStone clients for a particular investment opportunity, such as the capacity in an Investment Fund or a Direct Investment, than supply. StepStone employs an allocation policy designed to ensure that all of its clients will be treated fairly and equitably over time. The Fund’s portfolio manager has discretion to lower the allocation as appropriate for portfolio construction purposes.
- SPRIM and SPRING follow an open architecture approach, identifying investments from a range of relationships and sources including company management teams and Investment Managers.
Closed-end Funds; Liquidity Risks. The Funds are non-diversified closed-end management investment companies designed primarily for long-term investors and not intended to be trading vehicles. An investor should not invest in the Funds if the investor needs a liquid investment. Closed-end funds differ from open-end management investment companies (commonly known as mutual funds) in that investors in a closed-end fund do not have the right to redeem their shares on a daily basis at a price based on NAV.
Dollar-cost averaging (DCA) is an investment strategy in which the intention is to minimize the impact of volatility by investing in smaller amounts at regular intervals over time. DCA does not assure a profit or protect