Join        Login             Stock Quote

StepStone Closes $450 million Secondary Private Equity Fund

Tuesday, April 16, 2013 10:39 AM

StepStone Group, LP (“StepStone”) today announced the final closing of its secondary private equity fund, StepStone Secondary Opportunities Fund II, LP, (the “Fund”) with total commitments of $450 million. The Fund exceeded its original target of $350 million, closing at its hard cap. Together with allocated capital from separately managed accounts, StepStone has raised approximately $650 million for a focused and differentiated strategy within the secondaries market.

Limited Partners in the Fund consist of leading U.S. and international investors, including public and corporate pension funds, insurance companies, endowments and foundations, family offices, and financial service and advisory firms.

The Fund’s investment strategy focuses on the smaller end of the secondaries market, where StepStone believes it can capture market inefficiencies to drive returns.

“We are fortunate to have a sophisticated, diversified group of global investors as Limited Partners, many of whom have invested with us in the past,” said Tom Bradley, one of the Fund’s co-managers. “In a difficult fundraising environment, we are appreciative of the support and confidence that our Limited Partners have shown in our differentiated secondaries strategy – one which seeks to generate alpha by building a more concentrated portfolio of high quality assets, purchased at attractive prices, leveraging the global StepStone platform. We have generated significant momentum as a result of our recent investment activity and will seek to continue to build upon the success of our secondaries strategy.”

About StepStone

StepStone is a leading private equity firm that oversees more than US$50 billion of private equity allocations, including approximately US$10 billion of assets under management, through its global offices in New York, London, Beijing, and San Diego. StepStone creates customized and targeted portfolios for the world's most sophisticated investors using a highly disciplined research-focused approach that integrates fund, secondary, mezzanine and co-investments. StepStone leverages its unique global platform to optimize exposure to top performing investment strategies, geographies and managers. For more information about StepStone, its philosophy and services, please visit www.stepstoneglobal.com.

(Source: Business Wire )
(Source: Quotemedia)


Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.