N-2 - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | | | | |
Sep. 30, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | Mar. 31, 2022 | Mar. 31, 2021 | [1] |
Cover [Abstract] | | | | | | |
Entity Central Index Key | | 0001789470 | | | | |
Amendment Flag | | false | | | | |
Document Type | | N-CSRS | | | | |
Entity Registrant Name | | StepStone Private Markets | | | | |
Financial Highlights [Abstract] | | | | | | |
Senior Securities, Note [Text Block] | | For the For the For the For the For the Per Share Operating Performance: Net Asset Value per share, beginning of period $ 51.73 $ 45.61 $ 43.07 $ 33.65 $ 25.00 Activity from investment operations: Net investment income (loss) 1 0.16 0.30 (0.07 ) (0.54 ) (0.89 ) Net realized and unrealized gain (loss) 3.27 5.98 3.57 10.44 9.54 Total from investment operations 3.43 6.28 3.50 9.90 8.65 Less distributions: From net investment income (0.16 ) — (0.40 ) (0.23 ) — From net realized gains (0.14 ) (0.16 ) (0.56 ) (0.25 ) — Total distributions (0.30 ) (0.16 ) (0.96 ) (0.48 ) — Net Asset Value per share, end of period 2 $ 54.86 $ 51.73 $ 45.61 $ 43.07 $ 33.65 Net Assets, end of period (in thousands) $ 2,570,616 $ 1,947,596 $ 963,316 $ 445,249 $ 81,122 Ratios to average net assets 3 Net investment income (loss) 4 0.61 % 0.63 % (0.16 )% (1.36 )% (5.85 )% Gross expenses 5 1.69 % 2.09 % 2.32 % 3.38 % 11.57 % Adviser expense recoupment (reimbursement) 5 — % — % 0.13 % 0.18 % (5.52 )% Net expenses 5 1.69 % 2.09 % 2.45 % 3.56 % 6.05 % Total return 2,6,7 6.64 % 13.79 % 8.23 % 29.43 % 34.60 % Portfolio turnover rate 8 0.36 % 0.01 % 4.35 % 25.31 % 5.95 % Senior Securities: Total borrowings (in thousands) $ — $ — $ — $ — $ 20,000 Asset coverage per $1,000 unit of senior indebtedness 9 N/A N/A N/A N/A 4.29 * The Class commenced operations on October 1, 2020. 1 Per share data has been calculated using the average shares method. 2 The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. 3 Ratios do not reflect the proportionate share of income and expenses originating from the Fund’s underlying Investments. 4 Net investment income (loss) ratios have been annualized for periods of less than twelve months. 5 Expense ratios have been annualized for periods of less than twelve months. 6 Total return based on net asset value per share reflects the change in the net asset value based on the effects of the performance of the Fund during the period and assumes distributions, if any, were reinvested in accordance with the Fund’s DRIP. Total return for periods less than 1 year have not been annualized. 7 Total return would have been lower had certain expenses not been waived and assumed by the Adviser during periods of reimbursement. 8 Excluding short-term investments, the portfolio turnover rate represents lesser of the Fund’s purchases or sales of investments for the period divided by the average monthly fair value of the Fund’s investments during the period. Result is not annualized. 9 Calculated by subtracting the Fund’s total liabilities (not including borrowings) from the Fund’s total assets and dividing this by the total number of senior indebtedness units, where one unit equals $1,000 of senior indebtedness. For the For the For the For the For the Per Share Operating Performance: Net Asset Value per share, beginning of period $ 51.51 $ 45.53 $ 43.03 $ 33.62 $ 25.00 Activity from investment operations: Net investment income (loss) 1 0.09 0.14 (0.15 ) (0.46 ) (1.17 ) Net realized and unrealized gain (loss) 3.26 6.00 3.57 10.31 9.79 Total from investment operations 3.35 6.14 3.42 9.85 8.62 Less distributions: From net investment income (0.12 ) — (0.36 ) (0.19 ) — From net realized gains (0.14 ) (0.16 ) (0.56 ) (0.25 ) — Total distributions (0.26 ) (0.16 ) (0.92 ) (0.44 ) — Net Asset Value per share, end of period 2 $ 54.60 $ 51.51 $ 45.53 $ 43.03 $ 33.62 Net Assets, end of period (in thousands) $ 59,776 $ 44,397 $ 31,668 $ 14,908 $ 4,623 Ratios to average net assets 3 Net investment income (loss) 4 0.36 % 0.29 % (0.34 )% (1.17 )% (7.47 )% Gross expenses 5 1.95 % 2.37 % 2.49 % 3.44 % 11.54 % Adviser expense recoupment (reimbursement) 5 — % — % 0.13 % 0.08 % (3.82 )% Net expenses 5 1.95 % 2.37 % 2.62 % 3.52 % 7.72 % Total return 2,6,7 6.53 % 13.51 % 8.04 % 29.32 % 34.48 % Portfolio turnover rate 8 0.36 % 0.01 % 4.35 % 25.31 % 5.59 % Senior Securities: Total borrowings (in thousands) $ — $ — $ — $ — $ 20,000 Asset coverage per $1,000 unit of senior indebtedness 9 N/A N/A N/A N/A 4.29 * The Class commenced operations on October 1, 2020. 1 Per share data has been calculated using the average shares method. 2 The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. 3 Ratios do not reflect the proportionate share of income and expenses originating from the Fund’s underlying Investments. 4 Net investment income (loss) ratios have been annualized for periods of less than twelve months. 5 Expense ratios have been annualized for periods of less than twelve months. 6 Total return based on net asset value per share reflects the change in the net asset value based on the effects of the performance of the Fund during the period and assumes distributions, if any, were reinvested in accordance with the Fund’s DRIP. Total return for periods less than 1 year have not been annualized. 7 Total return would have been lower had certain expenses not been waived and assumed by the Adviser during periods of reimbursement. 8 Excluding short-term investments, the portfolio turnover rate represents lesser of the Fund’s purchases or sales of investments for the period divided by the average monthly fair value of the Fund’s investments during the period. Result is not annualized. 9 Calculated by subtracting the Fund’s total liabilities (not including borrowings) from the Fund’s total assets and dividing this by the total number of senior indebtedness units, where one unit equals $1,000 of senior indebtedness. For the For the For the For the For the Per Share Operating Performance: Net Asset Value per share, beginning of period $ 50.97 $ 45.38 $ 43.07 $ 33.65 $ 25.00 Activity from investment operations: Net investment income (loss) 1 (0.07 ) 0.07 (0.30 ) (0.31 ) (0.79 ) Net realized and unrealized gain (loss) 3.23 5.68 3.48 10.21 9.44 Total from investment operations 3.16 5.75 3.18 9.90 8.65 Less distributions: From net investment income (0.04 ) — (0.31 ) (0.23 ) — From net realized gains (0.14 ) (0.16 ) (0.56 ) (0.25 ) — Total distributions (0.18 ) (0.16 ) (0.87 ) (0.48 ) — Net Asset Value per share, end of period 2 $ 53.95 $ 50.97 $ 45.38 $ 43.07 $ 33.65 Net Assets, end of period (in thousands) $ 636,731 $ 316,271 $ 51,019 $ 87 $ 67 Ratios to average net assets 3 Net investment income (loss) 4 (0.26 )% 0.14 % (0.67 )% (0.81 )% (5.27 )% 2 Gross expenses 5 2.55 % 2.79 % 3.40 % 3.45 % 11.67 % Adviser expense recoupment (reimbursement) 5 — % — % 0.01 % 0.02 % (6.23 )% Net expenses 5 2.55 % 2.79 % 3.41 % 3.43 % 5.44 % Total return 2,6,7 6.20 % 12.7 % 7.48 % 29.43 % 34.60 % Portfolio turnover rate 8 0.36 % 0.01 % 4.35 % 25.31 % 5.95 % Senior Securities: Total borrowings (in thousands) $ — $ — $ — $ — $ 20,000 Asset coverage per $1,000 unit of senior indebtedness 9 N/A N/A N/A N/A 4.29 * The Class commenced operations on October 1, 2020. 1 Per share data has been calculated using the average shares method. 2 The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. 3 Ratios do not reflect the proportionate share of income and expenses originating from the Fund’s underlying Investments. 4 Net investment income (loss) ratios have been annualized for periods of less than twelve months. 5 Expense ratios have been annualized for periods of less than twelve months. 6 Total return based on net asset value per share reflects the change in the net asset value based on the effects of the performance of the Fund during the period and assumes distributions, if any, were reinvested in accordance with the Fund’s DRIP. Total return for periods less than 1 year have not been annualized. Total return shown excludes the effect of applicable sales charges. 7 Total return would have been lower had certain expenses not been waived and assumed by the Adviser during periods of reimbursement. 8 Excluding short-term investments, the portfolio turnover rate represents lesser of the Fund’s purchases or sales of investments for the period divided by the average monthly fair value of the Fund’s investments during the period. Result is not annualized. 9 Calculated by subtracting the Fund’s total liabilities (not including borrowings) from the Fund’s total assets and dividing this by the total number of senior indebtedness units, where one unit equals $1,000 of senior indebtedness. For the For the For the For the For the Per Share Operating Performance: Net Asset Value per share, beginning of period $ 50.93 $ 45.29 $ 43.05 $ 33.65 $ 25.00 Activity from investment operations: Net investment income (loss) 1 (0.06 ) (0.08 ) (0.31 ) (0.88 ) (0.79 ) Net realized and unrealized gain (loss) 3.21 5.88 3.44 10.76 9.44 Total from investment operations 3.15 5.80 3.13 9.88 8.65 Less distributions: From net investment income (0.04 ) — (0.33 ) (0.23 ) — From net realized gains (0.14 ) (0.16 ) (0.56 ) (0.25 ) — Total distributions (0.18 ) (0.16 ) (0.89 ) (0.48 ) — Net Asset Value per share, end of period 2 $ 53.90 $ 50.93 $ 45.29 $ 43.05 $ 33.65 Net Assets, end of period (in thousands) $ 19,575 $ 16,223 $ 6,382 $ 493 $ 67 Ratios to average net assets 3 Net investment income (loss) 4 (0.23 )% (0.17 )% (0.70 )% (2.18 )% (5.27 )% 2 Gross expenses 5 2.54 % 2.88 % 3.32 % 3.69 % 11.67 % Adviser expense recoupment (reimbursement) 5 — % — % 0.05 % 0.26 % (6.23 )% Net expenses 5 2.54 % 2.88 % 3.37 % 3.95 % 5.44 % Total return 2,6,7 6.19 % 12.83 % 7.37 % 29.37 % 34.60 % Portfolio turnover rate 8 0.36 % 0.01 % 4.35 % 25.31 % 5.95 % Senior Securities: Total borrowings (in thousands) $ — $ — $ — $ — $ 20,000 Asset coverage per $1,000 unit of senior indebtedness 9 N/A N/A N/A N/A 4.29 * The Class commenced operations on October 1, 2020. 1 Per share data has been calculated using the average shares method. 2 The net asset values and total returns have been calculated on net assets which include adjustments made in accordance with U.S. generally accepted accounting principles required at period end for financial reporting purposes. 3 Ratios do not reflect the proportionate share of income and expenses originating from the Fund’s underlying Investments. 4 Net investment income (loss) ratios have been annualized for periods of less than twelve months. 5 Expense ratios have been annualized for periods of less than twelve months. 6 Total return based on net asset value per share reflects the change in the net asset value based on the effects of the performance of the Fund during the period and assumes distributions, if any, were reinvested in accordance with the Fund’s DRIP. Total return for periods less than 1 year have not been annualized. Total return shown excludes the effect of applicable sales charges. 7 Total return would have been lower had certain expenses not been waived and assumed by the Adviser during periods of reimbursement. 8 Excluding short-term investments, the portfolio turnover rate represents lesser of the Fund’s purchases or sales of investments for the period divided by the average monthly fair value of the Fund’s investments during the period. Result is not annualized. 9 Calculated by subtracting the Fund’s total liabilities (not including borrowings) from the Fund’s total assets and dividing this by the total number of senior indebtedness units, where one unit equals $1,000 of senior indebtedness. | | | | |
General Description of Registrant [Abstract] | | | | | | |
Investment Objectives and Practices [Text Block] | | The Board provides broad oversight over the Fund’s investment program, management and operations and has the right to delegate management responsibilities. StepStone Group Private Wealth LLC serves as the Fund’s investment adviser (“Adviser”). The Adviser oversees the management of the Fund’s day -to-day -adviser -Adviser -to-day The Fund’s investment objective is to achieve long -term | | | | |
Risk Factors [Table Text Block] | | An investment in the Fund involves material risks, including performance risk, liquidity risk, business and financial risk, risks associated with the use of leverage, valuation risk, tax risk and other risks that should be carefully considered prior to investing and investing should only be considered by persons financially able to maintain their investment and who can afford a loss of a substantial part or all of such investment. | | | | |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | | | | | | |
Capital Stock [Table Text Block] | | The Fund offers four separate classes of shares of beneficial interest designated as Class I Shares, Class D Shares, Class S Shares and Class T Shares. Each class of Shares is subject to different fees and expenses. The minimum initial investment in Class I Shares by an investor in the Fund is $1.0 million. The minimum initial investment in Class D Shares, Class S Shares and Class T Shares by an investor is $50,000. The minimum initial investment may be reduced at the Adviser’s discretion. Investors purchasing Class S Shares and Class T Shares may be charged a sales load up to a maximum of 3.50%. Investors purchasing Class I Shares and Class D Shares are not charged a sales load. The Fund accepts initial and additional purchases of Shares daily at the Fund’s then -current Shareholders may exchange shares from one class to another for an equivalent NAV amount of that share class. The following table summarizes the Capital Share transactions for the six months ended September 30, 2024 and fiscal year ended March 31, 2024: For the Six Months Ended September 30 , 2024 For the Year Ended March 31 , 2024 Shares Dollar Shares Dollar Class I Proceeds from shares issued 10,257,134 $ 541,207,070 17,391,434 $ 844,571,284 Reinvestment of distributions 137,894 7,207,737 58,927 2,857,348 Repurchase of shares (1,332,097 ) (70,917,280 ) (1,225,105 ) (59,396,777 ) Exchange of shares 144,133 7,617,867 305,077 14,482,959 Net increase (decrease) 9,207,064 $ 485,115,394 16,530,333 $ 802,514,814 Class D Proceeds from shares issued 280,677 $ 14,740,174 480,050 $ 23,089,085 Reinvestment of distributions 3,765 195,985 1,928 93,212 Repurchase of shares (9,659 ) (513,485 ) (33,417 ) (1,625,016 ) Exchange of shares (41,795 ) (2,202,891 ) (282,211 ) (13,360,858 ) Net increase (decrease) 232,988 $ 12,219,783 166,350 $ 8,196,423 Class S Proceeds from shares issued 5,679,272 $ 294,550,099 5,122,775 $ 248,245,887 Reinvestment of distributions 27,271 1,405,015 10,908 522,728 Repurchase of shares (79,544 ) (4,133,168 ) (29,025 ) (1,438,055 ) Exchange of shares (30,036 ) (1,586,911 ) (23,752 ) (1,122,101 ) Net increase (decrease) 5,596,963 $ 290,235,035 5,080,906 $ 246,208,459 For the Six Months Ended September 30 , 2024 For the Year Ended March 31 , 2024 Shares Dollar Shares Dollar Class T Proceeds from shares issued 130,463 $ 6,755,396 183,755 $ 8,693,882 Reinvestment of distributions 946 48,666 607 29,077 Repurchase of shares (12,600 ) (655,674 ) (6,720 ) (329,635 ) Exchange of shares (74,173 ) (3,828,066 ) — — Net increase (decrease) 44,636 $ 2,320,322 177,642 $ 8,393,324 The Adviser intends to recommend to the Board, subject to the Board’s discretion, that the Fund offer a quarterly share repurchase program where the total aggregate amount of Share repurchases will be up to 5.00% of the Fund’s outstanding Shares each quarter. In the event that Shareholders, in the aggregate, submit for repurchase more than the number of Shares that the Fund will offer to repurchase, the Fund may repurchase the Shares on a pro rata basis, which may result in the Fund not honoring the full amount of a Share repurchase requested by a Shareholder. The Fund has no obligation to repurchase Shares at any time; any such repurchases will only be made at such times, in such amounts and on such terms as may be determined by the Board of Trustees, in its sole discretion. | | | | |
Security Dividends [Text Block] | | The minimum initial investment in Class I Shares by an investor in the Fund is $1.0 million. The minimum initial investment in Class D Shares, Class S Shares and Class T Shares by an investor is $50,000. The minimum initial investment may be reduced at the Adviser’s discretion. Investors purchasing Class S Shares and Class T Shares may be charged a sales load up to a maximum of 3.50%. | | | | |
Class I [Member] | | | | | | |
Financial Highlights [Abstract] | | | | | | |
Senior Securities Amount | | | | | | $ 20,000 |
Senior Securities Coverage per Unit | [2] | | | | | $ 4.29 |
General Description of Registrant [Abstract] | | | | | | |
NAV Per Share | | $ 54.86 | | | | |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | | | | | | |
Outstanding Security, Authorized [Shares] | | 46,858,698 | | | | |
Class D [Member] | | | | | | |
Financial Highlights [Abstract] | | | | | | |
Senior Securities Amount | | | | | | $ 20,000 |
Senior Securities Coverage per Unit | [2] | | | | | $ 4.29 |
General Description of Registrant [Abstract] | | | | | | |
NAV Per Share | | $ 54.6 | | | | |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | | | | | | |
Outstanding Security, Authorized [Shares] | | 1,094,860 | | | | |
Class S [Member] | | | | | | |
Financial Highlights [Abstract] | | | | | | |
Senior Securities Amount | | | | | | $ 20,000 |
Senior Securities Coverage per Unit | [2] | | | | | $ 4.29 |
General Description of Registrant [Abstract] | | | | | | |
NAV Per Share | | $ 53.95 | | | | |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | | | | | | |
Outstanding Security, Authorized [Shares] | | 11,802,236 | | | | |
Class T [Member] | | | | | | |
Financial Highlights [Abstract] | | | | | | |
Senior Securities Amount | | | | | | $ 20,000 |
Senior Securities Coverage per Unit | [2] | | | | | $ 4.29 |
General Description of Registrant [Abstract] | | | | | | |
NAV Per Share | | $ 53.9 | | | | |
Capital Stock, Long-Term Debt, and Other Securities [Abstract] | | | | | | |
Outstanding Security, Authorized [Shares] | | 363,187 | | | | |
| |
[1]The Class commenced operations on October 1, 2020.[2] Calculated by subtracting the Fund’s total liabilities (not including borrowings) from the Fund’s total assets and dividing this by the total number of senior indebtedness units, where one unit equals $1,000 of senior indebtedness. | |