Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

  Names of Reporting Persons

  StepStone Group LP

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐        (b)  ☐

  SEC Use Only

  Citizenship or Place of Organization

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

  Sole Voting Power

  0

  Shared Voting Power

  13,709,598*

  Sole Dispositive Power

  0

  Shared Dispositive Power

  13,709,598*

  Aggregate Amount Beneficially Owned by Each Reporting Person

  13,709,598*

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

  ☐

  Percent of Class Represented by Amount in Row (9)

  13.8%*

  Type of Reporting Person (See Instructions)

  PN; IA

Beneficial ownership percentage is based upon 99,276,587 ordinary shares, nominal value 0.01 DKK (“Ordinary Shares”), of Forward Pharma A/S, a Delaware corporation (the “Company”), issued and outstanding as of May 5, 2022, based on information disclosed in the Company’s notice of general meeting, filed with the Securities and Exchange Commission on May 5, 2022. This statement relates to American Depositary Shares (the “ADS Shares”) beneficially owned by the reporting person, each representing fourteen (14) Ordinary Shares of the Company.

  Names of Reporting Persons

  StepStone International Investors II, L.P.

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐        (b)  ☐

  SEC Use Only

  Citizenship or Place of Organization

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

  Sole Voting Power

  0

  Shared Voting Power

  12,279,890*

  Sole Dispositive Power

  0

  Shared Dispositive Power

  12,279,890*

  Aggregate Amount Beneficially Owned by Each Reporting Person

  12,279,890*

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

  ☐

  Percent of Class Represented by Amount in Row (9)

  12.4%*

  Type of Reporting Person (See Instructions)

  PN

Beneficial ownership percentage is based upon 99,276,587 Ordinary Shares issued and outstanding as of May 5, 2022. This statement relates to ADS Shares beneficially owned by the reporting person.

  Names of Reporting Persons

  StepStone International Investors II-G, L.P.

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐        (b)  ☐

  SEC Use Only

  Citizenship or Place of Organization

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

  Sole Voting Power

  0

  Shared Voting Power

  1,429,718*

  Sole Dispositive Power

  0

  Shared Dispositive Power

  1,429,718*

  Aggregate Amount Beneficially Owned by Each Reporting Person

  1,429,718*

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

  ☐

  Percent of Class Represented by Amount in Row (9)

  1.4%*

  Type of Reporting Person (See Instructions)

  PN

Beneficial ownership percentage is based upon 99,276,587 Ordinary Shares issued and outstanding as of May 5, 2022. This statement relates to ADS Shares beneficially owned by the reporting person.

  Names of Reporting Persons

  StepStone GC GP, LLC

  Check the Appropriate Box if a Member of a Group (See Instructions)

  (a)  ☐        (b)  ☐

  SEC Use Only

  Citizenship or Place of Organization

  Delaware

Number of

Shares

 Beneficially 

Owned by

Each

Reporting

Person

With

  Sole Voting Power

  0

  Shared Voting Power

  13,709,598*

  Sole Dispositive Power

  0

  Shared Dispositive Power

  13,709,598*

  Aggregate Amount Beneficially Owned by Each Reporting Person

  13,709,598*

  Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)

  ☐

  Percent of Class Represented by Amount in Row (9)

  13.8%*

  Type of Reporting Person (See Instructions)

  PN

Beneficial ownership percentage is based upon 99,276,587 Ordinary Shares issued and outstanding as of May 5, 2022. This statement relates to ADS Shares beneficially owned by the reporting person.

Item 1.   

Name of Issuer:

Forward Pharma A/S (the “Company”)

Address of Issuer’s Principal Executive Offices:

Østergade 24A, 1st floor, 1100 Copenhagen K, Denmark

Item 2.   

Name of Persons Filing:

StepStone Group LP

StepStone International Investors II, L.P.

StepStone International Investors II-G, L.P.

StepStone GC GP, LLC (collectively, the “StepStone Entities”)

Address of Principal Business Office or, if none, Residence:

For each of the StepStone Entities:

        4225 Executive Square, Suite 1600

        La Jolla, CA 90237

Citizenship:

StepStone International Investors II, L.P. = Delaware

StepStone International Investors II-G, L.P. = Delaware

StepStone GC GP, LLC = Delaware

StepStone Group LP = Delaware

Title of Class of Securities:

Ordinary shares, nominal value 0.01 DKK

CUSIP Number:

34986J204

Item 3.   If this statement is filed pursuant to §§ 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing is a:

☒ Not applicable

Ownership.

Amount beneficially owned:

StepStone International Investors II, L.P. (“StepStone II Fund”) has the shared power to vote, direct the voting of, dispose of and direct the disposition of 877,135 ADS Shares, each representing fourteen (14) Ordinary Shares, nominal value 0.01 (“Ordinary Shares”) of the Company. Such ADS Shares represent 12,279,890 Ordinary Shares, which is approximately 12.4% Ordinary Shares outstanding.

StepStone International Investors II-G, L.P. (“StepStone II-G Fund”) has the shared power to vote, direct the voting of, dispose of and direct the disposition of 102,122 ADS Shares, representing 1,429,718 Ordinary Shares, which is approximately 1.4% of Ordinary Shares outstanding.

StepStone GC GP, LLC (“General Partner”) acts as general partner of each of StepStone II Fund and StepStone II-G Fund and, as a result, may be deemed to beneficially own the Ordinary Shares beneficially owned by each of StepStone II Fund and StepStone II-G Fund. As a result, General Partner may be deemed to beneficially own 13,709,598 Ordinary Shares, representing 13.8% of Ordinary Shares outstanding.

StepStone Group LP (“StepStone Group”) acts as the investment manager of each of StepStone II Fund and StepStone II-G Fund and it is the managing member of the General Partner and, as a result, may be deemed to beneficially own the Ordinary Shares beneficially owned by each of StepStone II Fund and StepStone II-G Fund. As a result, StepStone Group may be deemed to beneficially own 13,709,598 Ordinary Shares, representing 13.8% of Ordinary Shares outstanding.

On and after December 19, 2022, StepStone II Fund and StepStone II-G Fund received distributions of ADR Shares of the Issuer from a limited partnership not controlled by the StepStone Entities. This distribution constitutes the entirety of the ownership of the Reporting Persons.

Percent of class:

13.8% (based on 99,276,587 ordinary shares, as reported in the Company’s notice of general meeting filed on May 5, 2022.)

Number of shares as to which the person has:

Sole power to vote or to direct the vote

0

Shared power to vote or to direct the vote

13,709,598 (See Item 4(a))

Sole power to dispose or to direct the disposition of

0

Shared power to dispose or to direct the disposition of

13,709,598 (See Item 4(a))

Ownership of Five Percent or Less of a Class.

Ownership of More than Five Percent on Behalf of Another Person.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

Identification and Classification of Members of the Group.

Notice of Dissolution of Group.

Certifications.