Sat, Jun 6, 2020
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

StepStone raises $2.1bn for secondary opportunities fund

Thursday, April 09, 2020

Laxman Pai, Opalesque Asia:

New York-based global private markets investment firm StepStone Group, LP, closed its secondary private equity fund that invests on the secondary markets, raising US$2.1 billion of commitments.

StepStone Secondary Opportunities Fund IV (SSOF IV) surpassed its original target of US$1.25 billion, said a press release from StepStone, which has more than US$280 billion of private markets allocations, including over US$62 billion of assets under management.

The Fund IV, along with separately managed accounts, brings StepStone's capital raised for its secondary private equity platform to more than $2.4 billion.

Limited partners in the fund consist of both existing and new investors from around the world, including sovereign wealth funds, public and corporate pension plans, insurance companies, endowments and foundations, family offices, and financial services and advisory firms. Investors in the fund include $24.7 billion Los Angeles Fire & Police Pensions.

SSOF IV's investment strategy focuses on the inefficient segments of the secondaries market, where StepStone believes it can acquire high-quality assets to drive attractive returns, said the press release.

The fund is managed by the co-heads of StepStone's secondaries practice, Messrs. Thomas A. Bradley and Mark T. Maruszewski, together with 25 members of StepStone's global secondaries team. "Since StepStone's inception, these professionals have committed US......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. New Launches: Apeira Capital seeks $200m for hedge fund-like bets, PIMCO filing reveals ESG fund launch could be ahead, BEA Systems co-founder launches venture fund, Salesforce Ventures launches $125m Europe Trailblazer Fund, The D. E. Shaw group closes first onshore China investment fund, Legg Mason and ClearBridge launch non-transparent ETF, Hong Kong-based asset manager MaiCapital launches actively managed bitcoin hedge fund[more]

    Apeira Capital seeks $200m for hedge fund-like bets From Bloomberg: Natalie Hwang, the former head of Simon Property Group Inc.'s venture capital arm, has launched a new firm and is seeking $200 million for a debut fund. Hwang has been discussing the vehicle with prospective investors, ac

  2. New Launches: Hedge fund Angelo Gordon raising $1.5bn for distressed energy debt, Amundi unveils eight new funds as part of ESG ETF range push, Mezzanine Management gears up for direct lending fund[more]

    Hedge fund Angelo Gordon raising $1.5bn for distressed energy debt From Reuters: Hedge fund Angelo Gordon & Co aims to raise as much as $1.5 billion to buy the debt of distressed oil and gas companies, according to a person familiar with the matter and an investor presentation viewed by R

  3. Tech: Robos fail their first big test, 'Video is fine': Venture capitalists find the benefits in digital due diligence[more]

    Robos fail their first big test From Advisor Perspectives: Robo-advisors faced their first big challenge with the bear market in the first quarter of 2020. They lost, and that is an ominous sign for the future of automated advice. All robos employ a degree of active management. They

  4. PE/VC: The 'inconvenient fact' behind private equity outperformance, Covid-19 hits private equity, How will private credit perform after the crisis?[more]

    The 'inconvenient fact' behind private equity outperformance From Institutional Investor: Investors have paid hundreds of billions in fees to private equity managers over decades, minting tens of billionaires in the process - but for more than a decade, private equity returns have matched

  5. Property: Germany's 'decade of real estate' is over. That might not spell disaster, Norway oil fund expects lower property returns[more]

    Germany's 'decade of real estate' is over. That might not spell disaster From FT: Across Germany's seven major cities and, to a lesser extent, the towns beyond, the sector has also grown rapidly. Researchers JLL have even dubbed the past ten years "the decade of real estate". Yet the