StepStone Group (STEP) has released an update to notify the public and investors about an entry into a material definitive agreement.
StepStone Group Inc. has initiated a strategic move to acquire the remaining equity interests in its partially-owned subsidiaries, namely StepStone Group Real Estate LP, StepStone Group Real Assets LP, and Swiss Capital Alternative Investments AG, through a series of Transaction Agreements. These agreements outline a systematic process for exchanges of equity interests for a mix of cash and company stock over a period of time. The completion of each annual exchange is contingent upon specific terms, including regulatory approvals and the fulfillment of certain conditions, with the overall deal designed to consolidate ownership and streamline the company’s asset management structure.
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For a comprehensive understanding of the announcement, you can read the full document here.
