NEW YORK, November 10, 2021 (GLOBE NEWSWIRE) – StepStone Group, Inc. (Nasdaq: STEP), a global private market investment firm focused on providing personalized investment solutions and advisory and advisory services data, today announced the final closing of StepStone Tactical Growth Fund III (“STGF III”), raising more than $ 690 million in commitments. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisers for the formation of the fund.
The fund includes sponsors from around the world, including public and corporate pension plans, insurance companies, endowments and foundations, family offices, high net worth individuals, and financial services and advisory firms. . STGF III integrates funds, secondary investments and co-investments to create diversified exposure to high growth technologies and healthcare assets on a global scale. The opportunistic strategy is designed to provide exposure to leading equity-backed venture capital and growth companies while managing volatility, reducing fees and accelerating the time to liquidity through portfolio construction. innovative. StepStone partners Brian Borton, Andrew Callahan and John Coelho are the managers of the fund. Following the recent acquisition of Greenspring Associates by StepStone, the company now has more than 70 investment professionals dedicated to venture capital and growth capital investments.
Mr. Coelho commented: “The rapid pace of innovation in the technology sector continues to generate exciting opportunities for venture capital and growth equity investors. We are thrilled to announce our third Tactical Growth Fund, and fortunate to have the support of some of the most sophisticated sponsors in the world. They have shown immense enthusiasm for our strategy, which seeks to capture the benefits of technological innovation, while mitigating risks through our opportunistic approach. The arrival of our new colleagues from Greenspring will only enhance the opportunities and relationships available to us as we deploy our investor capital.
About the StepStone Group
StepStone Group Inc. (Nasdaq: STEP) is a global private market investment firm focused on providing personalized investment solutions and advisory and data services to its clients. As of September 30, 2021, StepStone oversaw approximately $ 519 billion in private market allocations, including $ 121 billion in assets under management. StepStone’s clients include some of the largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as endowments, foundations, family offices and private clients. top tier clients, which include high net worth and mass clients. wealthy individuals. StepStone partners with its clients to develop and build private market portfolios designed to meet their specific objectives in the asset classes of private equity, infrastructure, private debt and real estate.
Brian Ruby / Chris Gillick, IC