Exhibit (k)(1)(b)
StepStone Group Private Wealth LLC
128 S Tryon St., Suite 1600
Charlotte, NC 28202
Re: Amendment to Administration Agreement for StepStone Private Markets
Dear Sir or Madam:
As you know, we are party to an Administration Agreement dated as of April 27, 2023, with respect to StepStone Private Markets (the “Agreement”). Please be advised that, pursuant to the terms of the Agreement, we wish to amend the Agreement to revise the fee schedule effective as of April 1, 2025. The proposed amended Schedule A to the Agreement is attached hereto.
Regards,
| STEPSTONE GROUP PRIVATE WEALTH LLC | ||
| By: | /s/ Tim Smith | |
| Name: Tim Smith Title: CFO & COO | ||
Accepted and Agreed to:
| STEPSTONE PRIVATE MARKETS | ||
| By: | /s/ Dean Caruvana | |
| Name: Dean Caruvana Title: Secretary and CCO | ||
StepStone Private Markets
Schedule A
Fees
| Net Assets |
Annual Rate | |||
| First $100 million |
0.12 | % | ||
| Next $100 million |
0.115 | % | ||
| Next $100 million |
0.10 | % | ||
| Next $200 million |
0.08 | % | ||
| Next $500 million |
0.07 | % | ||
| Next $500 million |
0.065 | % | ||
| Assets over $1.5 billion |
0.06 | % | ||
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