On October 23, 2025, StepStone Group announced the opening of its first office in Riyadh, Saudi Arabia. The firm received a license from the Capital Market Authority (CMA) and will serve clients in the Kingdom’s growing private‑markets ecosystem.
The Riyadh office expands StepStone’s presence in the Middle East, complementing its existing 31 offices across 19 countries. The move is part of the firm’s commitment to support Saudi Vision 2030 and to deepen relationships with institutional investors in the region.
The new location will enable StepStone to provide private‑market solutions to Saudi investors, broaden access to high‑quality private‑market opportunities, and accelerate economic diversification. The firm highlighted that the office will strengthen client service and collaboration with local partners.
By establishing a physical presence in Riyadh, StepStone signals its focus on emerging markets and its strategy to capture new capital flows, which could enhance fee‑related earnings and reinforce its competitive position in the private‑markets space.
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