StepStone Group Completes Fundraising for Fifth Private Equity Secondaries Program at $7.4 billion
StepStone Group Inc. (Nasdaq: STEP) has announced the final close of StepStone Secondary Opportunities Fund V, L.P. (SSOF V) and related separate accounts, collectively referred to as Fund V, with $7.4 billion of capital commitments. SSOF V, with $4.8 billion in aggregate capital commitments, has more than doubled in size compared to its predecessor fund.
The fund is over 50% committed to investments and will focus on less efficient segments of the secondaries market. It is supported by a diverse set of global institutional investors and managed by a team led by Thomas Bradley and Mark Maruszewski, Co-Heads of Private Equity Secondaries, along with Adam Johnston and John Kettnich.
StepStone's secondaries strategy leverages the firm's broader platform, utilizing sponsor relationships and differentiated data to create opportunities for strong risk-adjusted returns. Since inception, StepStone has deployed over $14 billion into more than 210 private equity secondaries transactions.
StepStone Group Inc. (Nasdaq: STEP) ha annunciato la chiusura finale del StepStone Secondary Opportunities Fund V, L.P. (SSOF V) e dei conti separati ad esso correlati, collettivamente noti come Fund V, con impegni di capitale pari a $7,4 miliardi. SSOF V, con $4,8 miliardi di impegni di capitale aggregati, ha più che raddoppiato le dimensioni rispetto al suo fondo predecessore.
Il fondo è impegnato per oltre il 50% in investimenti e si concentrerà su segmenti meno efficienti del mercato secondario. È sostenuto da un insieme diversificato di investitori istituzionali globali e gestito da un team guidato da Thomas Bradley e Mark Maruszewski, Co-Responsabili delle Secondarie di Private Equity, insieme ad Adam Johnston e John Kettnich.
La strategia delle secondarie di StepStone sfrutta la piattaforma più ampia della società, utilizzando relazioni con gli sponsor e dati differenziati per creare opportunità di forti rendimenti corretti per il rischio. Dalla sua creazione, StepStone ha impiegato oltre $14 miliardi in più di 210 transazioni di secondarie di private equity.
StepStone Group Inc. (Nasdaq: STEP) ha anunciado el cierre final del StepStone Secondary Opportunities Fund V, L.P. (SSOF V) y cuentas separadas relacionadas, que se denominan colectivamente como Fund V, con compromisos de capital por $7.4 mil millones. SSOF V, con $4.8 mil millones en compromisos de capital agregados, ha más que duplicado su tamaño en comparación con su fondo predecesor.
El fondo está comprometido en más del 50% a inversiones y se centrará en segmentos menos eficientes del mercado secundario. Está respaldado por un conjunto diverso de inversores institucionales globales y gestionado por un equipo liderado por Thomas Bradley y Mark Maruszewski, Cojefes de Segundas Oportunidades de Private Equity, junto con Adam Johnston y John Kettnich.
La estrategia de segundas oportunidades de StepStone aprovecha la plataforma más amplia de la firma, utilizando relaciones con patrocinadores y datos diferenciados para crear oportunidades de fuertes rendimientos ajustados al riesgo. Desde su inicio, StepStone ha desplegado más de $14 mil millones en más de 210 transacciones secundarias de private equity.
스텝스톤 그룹 주식회사(StepStone Group Inc.)(Nasdaq: STEP)는 스텝스톤 세컨더리 오퍼튜니티 펀드 V, L.P.(SSOF V)와 관련된 별도의 계좌의 최종 마감을 발표하였습니다. 이들은 집합적으로 펀드 V로 알려져 있으며, 자본 약정이 $74억에 달합니다. SSOF V는 $48억의 총 자본 약정을 가지고 있으며, 이전 펀드에 비해 규모가 두 배 이상 커졌습니다.
이 펀드는 투자에 50% 이상 약정되어 있으며, 세컨더리 시장의 비효율적인 세그먼트에 집중할 예정입니다. 다양한 글로벌 기관 투자자들에 의해 지원되며, 토마스 브래들리(Thomas Bradley)와 마크 마루제프스키(Mark Maruszewski) 공동 사장이 이끄는 팀이 관리합니다. 아담 존스턴(Adam Johnston)과 존 케튼니히(John Kettnich)도 함께합니다.
스텝스톤의 세컨더리 전략은 회사의 더 넓은 플랫폼을 활용하며, 스폰서 관계 및 차별화된 데이터를 통해 강력한 위험 조정 수익의 기회를 창출합니다. 설립 이후, 스텝스톤은 210건 이상의 프라이빗 에쿼티 세컨더리 거래에 $140억 이상을 투자하였습니다.
StepStone Group Inc. (Nasdaq: STEP) a annoncé la clôture finale du StepStone Secondary Opportunities Fund V, L.P. (SSOF V) et des comptes séparés associés, collectivement appelés Fund V, avec des engagements de capital s'élevant à 7,4 milliards de dollars. SSOF V, avec 4,8 milliards de dollars d'engagements de capital au total, a plus que doublé de taille par rapport à son fonds précédent.
Le fonds est engagé à plus de 50% dans des investissements et se concentrera sur des segments moins efficaces du marché secondaire. Il est soutenu par un ensemble diversifié d'investisseurs institutionnels mondiaux et géré par une équipe dirigée par Thomas Bradley et Mark Maruszewski, Co-chefs des Secondaires en Private Equity, avec Adam Johnston et John Kettnich.
La stratégie des secondes opportunités de StepStone exploite la plateforme plus large de la société, en utilisant des relations avec les sponsors et des données différenciées pour créer des opportunités de rendements ajustés au risque solides. Depuis sa création, StepStone a déployé plus de 14 milliards de dollars dans plus de 210 transactions de seconds marchés de private equity.
Die StepStone Group Inc. (Nasdaq: STEP) hat den endgültigen Abschluss des StepStone Secondary Opportunities Fund V, L.P. (SSOF V) und verwandter separater Konten bekannt gegeben, die gemeinsam als Fund V bezeichnet werden, mit Kapitalzusagen in Höhe von 7,4 Milliarden US-Dollar. SSOF V, mit 4,8 Milliarden US-Dollar an aggregierten Kapitalzusagen, hat sich im Vergleich zu seinem Vorgängerfonds mehr als verdoppelt.
Der Fonds ist über 50% in Investitionen gebunden und wird sich auf weniger effiziente Segmente des Sekundärmarktes konzentrieren. Er wird von einer Vielzahl globaler institutioneller Investoren unterstützt und von einem Team geleitet von Thomas Bradley und Mark Maruszewski, Co-Leitern der Private Equity Secondaries, zusammen mit Adam Johnston und John Kettnich.
Die Sekundärstrategie von StepStone nutzt die breitere Plattform des Unternehmens und verwendet Sponsor-Beziehungen sowie differenzierte Daten, um Möglichkeiten für starke risikoadjustierte Renditen zu schaffen. Seit seiner Gründung hat StepStone über 14 Milliarden US-Dollar in mehr als 210 Transaktionen im Bereich Private Equity Secondaries investiert.
- SSOF V raised $4.8 billion, more than doubling the size of its predecessor fund
- Total capital commitments for Fund V reached $7.4 billion
- The fund is already over 50% committed to investments
- StepStone has deployed over $14 billion into more than 210 private equity secondaries transactions since inception
- None.
Insights
The successful fundraising of
This capital raise strengthens StepStone's position in the growing secondaries market, which has become increasingly important for providing liquidity in private markets. With over
The fund's
For StepStone (STEP), this successful fundraise should translate to increased management fees and potential for future performance fees, potentially boosting the company's revenue and profitability in the coming years.
The
StepStone's balanced approach to LP-led and GP-led opportunities is particularly noteworthy. GP-led secondaries have gained significant traction recently, offering GPs more options to manage fund lifecycles and create liquidity for LPs. This strategy positions StepStone well to capitalize on evolving market dynamics.
The firm's global reach, with 27 offices across 16 countries, provides a competitive edge in sourcing and executing deals. This extensive network, combined with StepStone's data-driven approach, should enable the team to identify attractive opportunities in a market that's becoming increasingly competitive.
As the secondaries market continues to grow and evolve, StepStone's scaled platform and specialized focus could lead to sustained outperformance and further AUM growth.
SSOF V oversubscribed and significantly surpassed target
NEW YORK, Sept. 27, 2024 (GLOBE NEWSWIRE) -- StepStone Group Inc. (Nasdaq: STEP), a global private markets investment firm focused on providing customized investment solutions, advisory, and data services, today announced the final close of StepStone Secondary Opportunities Fund V, L.P. (“SSOF V”) and related separate accounts (together, "Fund V") with
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. Since inception, StepStone has deployed over
SSOF V is over
The 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.
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.
Mr. Bradley commented, “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.”
Regarding SSOF V, Mr. Johnston said, "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.”
About StepStone Group
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions. StepStone has one of the largest secondary liquidity solutions platforms globally, providing an important source of capital to sophisticated investors and general partners across private equity, venture capital & growth equity, real estate, infrastructure, and private debt. As of June 30, 2024, StepStone was responsible for approximately
Contacts
Shareholder Relations:
Seth Weiss
shareholders@stepstonegroup.com
+1 (212) 351-6106
Media:
Brian Ruby / Chris Gillick / Matt Lettiero, ICR
StepStonePR@icrinc.com
+1 (203) 682-8268
FAQ
How much capital did StepStone Group (STEP) raise for its Fifth Private Equity Secondaries Program?
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Who manages StepStone's Secondary Opportunities Fund V (SSOF V)?
