Crowd Street expands private markets offering with Nuveen, StepStone funds

Crowd Street is set to offer Nuveen and StepStone products on its platform.

The new distribution agreements will allow Crowd Street members to access investments in private credit, private equity, secondaries, venture capital, and real assets. Previously, the platform focussed predominantly on commercial real estate investments.

“The relationships with Nuveen and StepStone signal a major moment in our company by expanding access beyond the commercial real estate asset class and will accelerate our vision of self-directed private market investing into a reality,” commented John Imbriglia, chief executive of Crowd Street.

Both Nuveen and Stepstone will launch two funds on Crowd Street’s platform in early autumn, with additional funds to be anticipated later this year.

StepStone will offer a fund focused on private equity and another focused on venture capital, whereas one of Nuveen’s funds will focus on private credit investments in US middle market companies.

“Having facilitated funding of more than 800 commercial real estate deals worth over $4bn (£3bn) via its platform, Crowd Street has demonstrated the clear demand for self-directed private market investing,” said Jeff Carlin, head of global wealth at Nuveen.

“Crowd Street is an ideal distribution channel for us, and our collaboration represents a major step toward our shared vision of opening up access to the private markets to a broader set of accredited investors,” said Bob Long, chief executive of StepStone private wealth.