StepStone and PitchBook launch deal-level benchmarking tool

StepStone Group (Nasdaq: STEP) and PitchBook, a subsidiary of Morningstar (Nasdaq: MORN), announced the general availability of SPI Deal Benchmarking, a deal-level benchmarking solution for private markets, on June 17, 2026.

The product, first announced in May 2026, is now accessible to fund managers and service providers through the PitchBook platform as a standalone offering, and to investors through SPI by StepStone.

The solution combines deal-level performance and operating metrics from SPI by StepStone with PitchBook's private capital data, research, and analytics tools. All outputs are aggregated and anonymized to protect fund manager and deal confidentiality.

The product covers private equity buyout, venture capital, growth equity, and infrastructure strategies. Users can filter data by strategy, industry, geography, size, and time period.

"When we announced this partnership, our goal was to give all market participants a fundamentally clearer view of granular trends within private markets and how performance is actually generated," said Tyler Johnson, Partner and Chief Technology Officer at StepStone Group.

Joanna McGinley, EVP of Strategic Partnerships and Initiatives at PitchBook, said the tool addresses demand from fund managers for benchmarking that goes beyond fund-level comparisons and integrates into existing workflows.

The solution supports deal underwriting, investor relations, and fundraising reporting by providing performance, valuation, and capital structure data at the deal level rather than the fund level.

As of March 31, 2026, StepStone was responsible for approximately $885 billion of total capital, including $233 billion of assets under management.

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