StepStone racks up $2.36bn for fifth co-investment fund

• StepStone’s clients include public and private defined benefit and defined contribution pension funds, sovereign wealth funds, insurance companies, endowments, foundations, family offices and private wealth clients
• StepStone is focused on providing customized investment solutions and advisory, data and administrative services to its clients
• As of June 30, 2022, StepStone oversaw $588 billion of private markets allocations, including $137 billion of assets under management

StepStone Group Inc has closed its fifth dedicated co-investment fund at $2.36 billion, exceeding its target of $1.7 billion. StepStone Capital Partners V will invest across buyout, growth equity and recapitalization transactions.

“We are excited to announce the close of our latest co-investment vehicle, and grateful for the continued support of our limited partners,” said Lindsay Creedon, partner and co-head of co-investmentns at StepStone. “Based on current market conditions, rising interest rates, and valuations of private companies across industries, we believe this is an opportune time to invest in quality assets at attractive valuations.”

StepStone’s clients include public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals.

StepStone Group Inc is a global private markets investment firm focused on providing customized investment solutions and advisory, data and administrative services to its clients. As of June 30, 2022, StepStone oversaw $588 billion of private markets allocations, including $137 billion of assets under management.