StepStone Group Inc has held the final close of StepStone Secondary Opportunities Fund V (SSOF V) and related separate accounts with $7.4bn of capital commitments. With $4.8bn of aggregate capital commitments, SSOF V is more than double the size of its predecessor fund.
The firm’s secondaries strategy leverages StepStone’s broader platform to utilise its sponsor relationships, differentiated data, and information access to create opportunities that may generate strong risk-adjusted returns. Since inception, StepStone has deployed over $14bn 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 to focus 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.
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.
