StepStone Conversus (Conversus), an investment platform designed to expand access to the private markets for individual investors, has launched StepStone Conversus (Luxembourg) SCA SICAV-RAIF, a Luxembourg umbrella fund, and its inaugural sub-fund, Conversus StepStone Private Markets (CPRIM Lux).
CPRIM Lux offers European investors global exposure to the major private market asset classes – Private Equity, Real Assets and Private Debt – in a single investment.
StepStone Group Inc is a global private markets investment firm that oversees $570 billion of private markets allocations, including $134 billion of assets under management. The firm’s more than 800 professionals work from 23 cities in 14 countries to execute fund investments, secondary purchases and direct co-investments across the private markets. StepStone launched the Conversus platform in 2019 to deliver its institutional capabilities to high net worth individuals and small institutions.
CPRIM Lux’s investment strategy, powered by StepStone’s scale, relationships, and expertise spanning the private markets, will invest alongside CPRIM US, the firm’s US-based flagship fund. Launched in October 2020, CPRIM US reached $500 million of assets under management in 18 months, and its NAV has increased every quarter since inception, achieving a 78% total return through 31 May 2022.
As an open architecture solution, the CPRIM Lux portfolio seeks to be well-diversified across underlying managers and by sector, strategy, geography and vintage year. StepStone will invest CPRIM Lux’s capital alongside its institutional clients and CPRIM US.
CPRIM Lux intends to hold its first closing in the fall of 2022 and will be available to Professional Investors (as defined under MiFID II) in several EU Member States and the UK, and also to Well Informed Investors in Luxembourg, with a minimum investment of $50,000.
