StepStone Launches $750M Evergreen Private Equity Interval Fund 

StepStone Group has launched the StepStone Private Equity Strategies Fund (STPEX), a new evergreen interval fund designed to give individuals, advisors, and institutions access to private equity investments traditionally dominated by top-tier institutional allocators. The fund, which opened in September, has already raised more than $750 million. 

STPEX provides diversified exposure primarily through secondaries and co-investments alongside leading private equity sponsors identified through StepStone’s global sourcing platform. The strategy targets buyout and growth equity opportunities across managers, industries, and vintages. 

“As we scale the fund and deploy more capital, our focus remains on investing with the highest-quality partners,” said Scott Hart, CEO of StepStone Group. “STPEX leverages the same sourcing engine behind our institutional programs, allowing the team to build a balanced, diversified portfolio.” 

Structured as an evergreen interval fund, STPEX accepts daily subscriptions and offers semi-annual redemptions of up to 5% of net asset value. Unlike traditional private equity funds, investors are not subject to capital calls, and reporting is delivered via Form 1099 rather than Schedule K-1. 

STPEX is available to U.S. investors with a minimum investment of $5,000 and includes multiple share classes designed for wealth management platforms. The fund carries no accreditation requirement, broadening access to private markets for a wider set of investors. 

STPEX complements StepStone’s existing private wealth suite, which includes funds focused on private markets, venture and growth, infrastructure, and private credit. As of September 30, 2025, StepStone oversaw approximately $771 billion in total capital, including $209 billion in assets under management.