Valerie Brown Joins StepStone Board

"In addition, her expertise in wealth management and product distribution will be invaluable as StepStone continues to grow its brand and assets with high-net-worth and mass affluent investors," he said in a statement.

StepStone's "tremendous growth since inception is a testament to its exceptional people, client-centric focus, and collaborative, stakeholder-oriented culture," Brown said in the announcement. "I look forward to contributing to the firm's continued success and serving the needs of all shareholders."

As of Dec. 31, StepStone oversaw $333 billion of private markets allocations, including $80 billion of assets under management, it said. Its clients include some of the world's largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as endowments, foundations, family offices and private wealth clients, including high-net-worth and mass-affluent individuals.

StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes, it said.