California-based private equity fund of funds manager StepStone Group has announced that James Gamett has joined the firm as managing director and head of secondary investments, a newly
California-based private equity fund of funds manager StepStone Group has announced that James Gamett has joined the firm as managing director and head of secondary investments, a newly-created position.
Gamett, 34, is a member of the StepStone research team and also sits on the firm’s investment committee.
StepStone Group provides customised private equity investment management and advisory services to institutional investors, building portfolios that include private equity fund investments, co-investments and secondary investments.
Monte Brem, chief executive officer of StepStone, says: "We welcome Jim to our firm. We are seeking to diversify and strengthen our clients’ investment portfolios through targeted purchases in the secondaries market. It is a particularly attractive time to purchase secondary interests due to the current market dislocation and historically attractive discounts. We are confident that Jim’s experience and track record in this area will be a valuable asset for our clients as we look to purchase stakes from LPs who choose to exit their investments for one reason or another."
Gamett adds: "I am thrilled to be on board at StepStone. I look forward to working with a wonderful team that has both an entrepreneurial spirit that encourages innovation and creativity and the solid direct investment experience that will ensure successful execution on secondary transactions.’
Prior to joining StepStone, Gamett was vice president of secondary investments at Portfolio Advisors.
He was primarily responsible for the identification, analysis, due diligence and selection of secondary investments, and he helped grow the secondary business from a nascent programme to USD800m of invested capital.
In addition, he worked with and advised Portfolio Advisors’ clients in committing billions of dollars to secondary fund managers and tailored secondary investments.
Before Portfolio Advisors, Gamett was at Deloitte & Touche Corporate Finance.
