StepStone Stock Falls After Hunterbrook Short Report Flags $2.3 Billion Liability

Stepstone Group Inc (NASDAQ: STEP ) shares are trading lower Thursday morning after Hunterbrook Media published a short report raising concerns about the asset manager’s balance sheet, private-market valuations and a looming buyout tied to its fast-growing retail arm. Hunterbrook Media disclosed that Hunterbrook Capital is short STEP and long a basket of comparable securities. StepStone did not immediately respond to request for comment. Here’s what investors need to know. StepStone Group stock is feeling bearish pressure. What’s pressuring STEP stock? Hunterbrook Flags StepStone Private Wealth Liability The short report targets StepStone Private Wealth (SPW), the firm’s retail private-markets platform. According to the full-length report published on Hunterbrook’s recently acquired sister publication, The Bear Cave, StepStone originally granted CH Equity Partners an...