Conversus StepStone Private Markets (CPRIM®)

Inviting You Inside the Private Markets


Aligning investor interests, building trust

Simplifying your investment process

Seeking enhanced portfolio outcomes

Much of the growth, value creation and opportunity has been taking place in the private vs. public markets.

Number of US IPOs Per Year1


Companies have been staying private 2-3x longer

U.S. Private Equity NAV & Public Equities Market Capitalization2


More growth has taken place in the private markets

Current Blend of US Private Vs. Public Companies3


10x more public than private companies

1Pitchbook, December 2020. Note: Includes only US-based issuers listing on US exchanges and excludes SPAC’s in 2020.

2Siblis Research, Preqin, December 2019. Notes: Net asset value (NAV) = AUM less dry powder. Total market capitalization of U.S. listed companies. There are significant differences between public and private equities, which include but are not limited to the following: public equities can provide liquidity and greater access to company information and private equities have a longer time horizon, are considered illiquid and private equity NAV is typically based on estimated valuations of portfolio holdings that may not reflect actual market value.

33. Gartner Consulting, Pitchbook, S&P LCD, L.P., JP Morgan Asset Management June 2020.

Historically, the private markets have been opaque and difficult to access. However, performing well goes far beyond simply having access.

Historically, it has been difficult for high net worth individual investors and smaller institutions to get diversified exposure to the private markets for the following reasons:


Watch: A short discussion on the private markets, the potential benefits of CPRIM, and why we believe it makes sense to incorporate the fund within a portfolio.


A Powerful Combination of Conversus and StepStone

StepStone is one of the largest private markets investment managers in the world with unparalleled access to deal flow and a proprietary suite of integrated data and technology solutions, allowing them to perform comprehensive due diligence and make better investment decisions.


StepStone’s proprietary private markets database, SPI, tracks the information of:5


70,000+
Private Companies

39,000+
Funds

15,000+
GPs

All dollars are USD.

1All dollars are USD. $548B indicates total assets which includes $121B in assets under management as of December 31, 2021.  Reflects final data for the prior period (September 30, 2021), adjusted for net new client account activity through December 31, 2021. Does not include post-period investment valuation or cash activity.

2StepStone committed over $75B+ in 2021. Represents StepStone-approved investment commitments on behalf of discretionary and non-discretionary advisory clients. Excludes clientele that receive research-only, non-advisory services. Ultimate client investment commitment figures may vary following completion of final GP acceptance/closing processes.

312 months ending December 31, 2021.

412 months ending December 31, 2021. Includes all of StepStone’s private markets asset classes: Private Equity, Private Debt and Real Assets.

5As of December 31, 2021

CPRIM - Comprehensive Private Markets Access

CPRIM is a core private markets holding, which may provide high net worth individuals and smaller institutions with fully diversified exposure to the private markets, available via a convenient, efficient and transparent product.


Globally diversified private market investments within a single fund

Unique access to deal flow, global scale, and information advantage

Intends to provide superior risk-adjusted returns

Seeking to reduce portfolio volatility

Securities in the private markets lack the daily price transparency of securities in the public markets.
There are no assurances these objectives will be met. CPRIM may be considered speculative, has substantial costs and is not suitable for all investors. The investment’s share price is evaluated less frequently which does not indicate stability in the value of the underlying assets. Investors will have limited liquidity. CPRIM is not obligated to redeem any shares, and approval is at the Board of Trustees’ discretion. The share redemption plan is subject to other limitations, and the Board may modify, suspend or terminate the plan.

Interested in more information about CPRIM? Let us know how we can help: