Deals
Fidelity Funds Are in Talks to Buy Minority StepStone Stake
- A deal would come before a StepStone initial public offering
- StepStone has more than $52 billion in assets under management
People walk past a Fidelity Investments news scroll board in Boston.
Photographer: Charles Krupa/APThis article is for subscribers only.
Funds managed by Fidelity Investments are in talks to buy a minority stake in investment advisory firm StepStone Group, according to people with knowledge of the matter.
A deal, which would precede a potential initial public offering of StepStone as soon as 2020, is not certain, said the people, who requested anonymity because the talks are private. Representatives for Fidelity and StepStone declined to comment.