StepStone Group – a global private markets investment firm focused on providing customized investment solutions, advisory, and data services – announced the final closing of StepStone Secondary Opportunities Fund V, L.P. (SSOF V) and related separate accounts with $7.4 billion of capital commitments. With $4.8 billion of aggregate capital commitments, SSOF V more than doubled in size relative to its predecessor fund.
The firm’s secondaries strategy leverages StepStone’s broader platform to utilize its sponsor relationships, differentiated data, and information access to create opportunities that may generate strong risk-adjusted returns. And since its founding, StepStone has deployed over $14 billion into over 210 private equity secondaries transactions, focusing on a balanced mix of LP-led and GP-led opportunities.
SSOF V is over 50% committed to investments and will continue focusing on the less efficient segments of the secondaries market where StepStone believes its relationships and information advantages present key differentiators in isolating high-quality assets managed by best-in-class private equity sponsors.
This fund is supported by a globally diversified set of institutional investors that include sovereign wealth funds, public and corporate pension funds, endowments, foundations, family offices and various others. And the fund is managed by Thomas Bradley and Mark Maruszewski, Co-Heads of Private Equity Secondaries, and Adam Johnston and John Kettnich. They are supported by a dedicated 37-person team, with a broader network of over 1,000 professionals based throughout StepStone’s 27 offices across 16 countries.
KEY QUOTES:
“We are extremely pleased to have received such strong investor support, which we attribute to the strength of our track record, the compelling secondaries market opportunity, and the value our platform brings to those seeking secondary liquidity. This newly raised capital will allow us to continue to take advantage of the best risk-adjusted opportunities while partnering with best-in-class managers among an increasing desire for liquidity from global private equity investors.”
- Thomas Bradley
“We are incredibly grateful for the trust and support from existing and new investors around the world. Our team and platform has never been stronger and we believe we are well-positioned to capitalize on the substantial and growing opportunities in the private equity secondaries market.”
- Adam Johnston
