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Report: StepStone hires banks for planned IPO

StepStone Group LP engaged Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co. as lead underwriters for its potential IPO in New York, Reuters reported, citing people familiar with the matter.

La Jolla, Calif.-based StepStone, which invests in private equity, real estate and other alternative assets, has confidentially filed for an IPO with the SEC, one of the sources said.

The IPO could occur in late February or March, depending on market conditions, and could give the firm a valuation akin to peer Hamilton Lane Inc., the people said.

Neither StepStone nor the banks commented on the matter, according to Reuters.