Conversus
Conversus distributes StepStone Group's Private Wealth Solutions — a family of five plus registered interval and tender offer funds giving individual investors and their advisors access to private equity, venture, credit, infrastructure, and real assets across US, Cayman, and Australian channels.
- Company typePrivate
- Founded-
- HeadquartersCharlotte, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Conversus does
Conversus operates as part of the StepStone Group Private Wealth Solutions distribution and service platform for the wealth channel, headquartered in Charlotte, United States. The business packages institutional-caliber private market exposure into a family of registered closed-end, tender offer, and interval funds designed for financial advisors, RIAs, retail wholesalers, wirehouses, and the individual investors they serve. The core product suite comprises five evergreen funds — SPRIM (diversified private equity, real assets, and private debt), SPRING (venture and growth), STRUCTURE (private infrastructure), CRDEX (private credit income), and STPEX (private equity strategies) — augmented by SCRED (private credit) for accredited investors. Each fund is offered across multiple share classes (Class I, D, S, R, U) and supported by jurisdiction-specific investor portals spanning the US, Cayman, and Australia.
Revenue is generated through recurring asset management fees on assets under management. StepStone Group reports $233B in firm AUM and $885B in total capital responsibility as of 3/31/2026, with the Private Wealth channel specifically holding $17.8B in AUM — more than double the level at 12/31/2024. The go-to-market combines direct enterprise sales to advisors and institutions with an external distributor (Distribution Services, LLC) and a content-and-education layer including the StepStone Academy, the RPM podcast series, and three co-branded benchmarking products with Kroll (private credit), FTSE Russell/LSEG (global private market indices), and PitchBook (deal benchmarks). A team of 110+ Private Wealth professionals, drawn from a 31-office global footprint, supports advisor onboarding and ongoing reporting.
Underlying technology is not disclosed in the source material; differentiation rests on data partnerships, deal-sourcing relationships with general partners, and the integrated fund/portal architecture rather than proprietary technology assets. Ownership details, founding date, cap-table composition, and management team are not provided in the input data.
Conversus firmographics
Firmographics- Name
- Conversus
- Legal name
- StepStone Group LP
- Website
- https://conversus.com
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Conversus distributes StepStone Group's Private Wealth Solutions — a family of five plus registered interval and tender offer funds giving individual investors and their advisors access to private equity, venture, credit, infrastructure, and real assets across US, Cayman, and Australian channels.
- Ownership category
- akta.pro rank
Conversus industry classification
Industry- Product category
- Alternative Investment Management
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Financial Planning–Led RIAs (FSAAACAB)
- akta.pro secondary industry
- Senior Secured Direct Lending (FSANADAA)
Keywords
Where Conversus is headquartered
LocationHeadquarters
- HQ city
- Charlotte
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Conversus business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Asset Management Fees: StepStone generates revenue through asset management fees charged on assets under management across its private wealth fund products including SPRIM, SPRING, STRUCTURE, CRDEX, and STPEX.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Multiple share classes available (Class I, Class D, Class S, Class R, Class U) |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels3 records
Conversus product offering
Product offeringCore offering
Conversus provides private wealth solutions consisting of closed-end interval and tender offer funds (SPRIM, SPRING, STRUCTURE, CRDEX, STPEX) that give individual investors and financial advisors access to private equity, venture capital, private debt, real estate, and infrastructure investments. The funds are distributed through financial advisors, RIAs, retail wholesalers, wirehouses, and institutional investors with multiple share classes and investor portal access across multiple jurisdictions.
Product overview
StepStone Group offers a suite of evergreen private wealth investment products designed for individual investors seeking access to private markets. The core portfolio consists of five distinct closed-end interval/tender offer funds: SPRIM (Private Markets Fund) providing diversified exposure across private equity, real assets and private debt; SPRING (Venture and Growth Fund) focused on innovation economy managers; STRUCTURE (Infrastructure Fund) targeting income and appreciation through infrastructure investments; CRDEX (Private Credit Income Fund) offering senior secured direct lending exposure; and STPEX (Private Equity Strategies Fund) providing access to top-tier private equity sponsors. These funds are distributed through registered investment advisors, financial advisors, and wealth management platforms with multiple share classes and investor portal access.
Differentiator
Problem solved
Functional benefit
Brands
- SPRIM (StepStone Private Markets Fund): Evergreen strategy spanning private equity, real assets and private debt for individual investors seeking long-term capital appreciation and regular current income
- SPRING (StepStone Private Venture and Growth Fund)
- STRUCTURE (StepStone Private Infrastructure Fund)
- CRDEX (StepStone Private Credit Income Fund)
- STPEX (StepStone Private Equity Strategies Fund)
- SCRED (StepStone Private Credit Fund)
Products and services
- StepStone Private Markets Fund (SPRIM) An evergreen fund spanning private equity, real assets and private debt, providing individual investors access to best-in-class investment managers worldwide with long-term capital appreciation, regular current income and diversification through a single investment.
- StepStone Private Venture and Growth Fund (SPRING) A broadly diversified venture and growth strategy leveraging an open architecture approach, emphasizing best-in-class managers across all sectors of the innovation economy.
- StepStone Private Infrastructure Fund (STRUCTURE) An interval fund seeking to provide current income and long-term capital appreciation through access to a global portfolio of private infrastructure investments across industry sectors and geographies.
- StepStone Private Credit Income Fund (CRDEX) A non-diversified closed-end management investment company offering access to a broadly diversified private credit strategy focused on senior secured direct lending using a multi-lender approach.
- StepStone Private Equity Strategies Fund (STPEX) A non-diversified closed-end management investment company operated as an interval fund designed to provide exposure to a diversified portfolio of private equity investments managed by historically top-tier sponsors.
Quantifiable outcome
- Over double the private wealth AUM since 12/31/2024, reaching $17.8B
Companies that use Conversus
Customer profileSegments2 records
Ideal customer profiles2 records
Conversus technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Conversus partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered supporting.
- KrollsupportingKroll StepStone Private Credit Benchmarks - provides benchmarking tools for private credit investors, enabling performance comparison and evaluation of investments
- FTSE RussellsupportingFTSE StepStone Global Private Market Indices - collaboration with LSEG to provide global private market index benchmarks for investors
- PitchBooksupportingPitchBook StepStone Deal Benchmarks - provides deal-level benchmarking data for private market investors
- Distribution Services, LLCsupportingDistribution Services, LLC distributes SPRIM, SPRING, STRUCTURE, CRDEX and STPEX funds. Note: Distribution Services, LLC is not affiliated with StepStone Group.
Scale indicators5 records
Recent moves4 records
Expansion highlights5 records
Conversus competitors and assessment
Company assessmentEmerging players
- Moonfare: Moonfare is a digital private equity platform offering individual investors and their advisors access to top-tier PE funds, competing with SPRIM and STPEX in the individual investor segment.
- Yieldstreet: Yieldstreet provides individual investors access to private credit, real estate, and other alternatives via a digital platform, partially overlapping with Conversus's CRDEX and STRUCTURE offerings.
Direct peers
- Hamilton Lane: Hamilton Lane is a direct competitor offering private markets solutions (including evergreen/interval funds and advisor-focused private wealth vehicles) to individual investors and wealth managers, mirroring StepStone's private wealth suite.
- iCapital Network: iCapital is a leading technology platform that provides financial advisors and RIAs with access to private equity, private credit, and other alternative investments, competing head-on with Conversus for the wealth channel.
- CAIS: CAIS is an alternative investment platform connecting independent advisors and RIAs to private equity, private credit, and hedge funds, directly overlapping with Conversus's advisor distribution model.
Broad incumbents
- Apollo Global Management (Private Wealth): Apollo's private wealth solutions, including Apollo Diversified Credit and structured credit products, target the same advisor and HNW channels served by Conversus, particularly in private credit.
- Carlyle (Global Private Wealth): Carlyle's private wealth offerings provide individual investors private equity and credit exposure through interval/evergreen structures, overlapping with SPRIM and STPEX.
- Blackstone (Private Wealth): Blackstone operates one of the largest private wealth alternatives platforms (e.g., BCRED, BREIT, BIP) targeting individual investors through advisors, overlapping with Conversus's product categories at far larger scale.
- KKR (Private Wealth): KKR's Private Wealth group offers interval funds and SMA-style solutions to advisors, competing with Conversus across private credit and private equity strategies.
Others
- BNY Mellon | Alcentra: BNY Mellon's Alcentra is a private credit manager in the broader ecosystem that competes for senior secured direct lending allocations overlapping with CRDEX, though operating more institutionally.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat6 records
Key risks5 records
Key highlights6 records
Customer concentration
Conversus financial estimates
Financial estimateRevenue estimate
Valuation estimate
Conversus leadership team
Management profileNumber of profiles
Conversus funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Conversus M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Conversus
What does Conversus do?
Conversus provides private wealth solutions consisting of closed-end interval and tender offer funds (SPRIM, SPRING, STRUCTURE, CRDEX, STPEX) that give individual investors and financial advisors access to private equity, venture capital, private debt, real estate, and infrastructure investments. The funds are distributed through financial advisors, RIAs, retail wholesalers, wirehouses, and institutional investors with multiple share classes and investor portal access across multiple jurisdictions.
Is Conversus a public or private company?
Conversus is a private company. It is classified as unknown and is currently operating.
When was Conversus founded?
Conversus was founded in -1. It employs 11 to 50 people.
Where is Conversus based?
Conversus is headquartered in Charlotte, United States, in the North America region.
How does Conversus make money?
One revenue line is on record: asset Management Fees.
Who are Conversus's main competitors?
Emerging players on record are Moonfare and Yieldstreet. Direct peers are Hamilton Lane, iCapital Network and CAIS. Broad incumbents are Apollo Global Management (Private Wealth), Carlyle (Global Private Wealth), Blackstone (Private Wealth) and KKR (Private Wealth). BNY Mellon | Alcentra is listed as an others.
Does Conversus have an API?
No public API is recorded for Conversus.
What industry is Conversus in?
Conversus's product category is Alternative Investment Management. Its primary akta.pro industry code is FSAAACAB, Financial Planning–Led RIAs, with a secondary code of FSANADAA, Senior Secured Direct Lending. Its NAICS code is 523940 and its SIC code is 6282.