StepStone Raises $7.4B for Fifth PE Secondaries Fund

StepStone Group said its fifth private equity secondaries fund was oversubscribed and exceeded its target fundraising goal, accruing $4.8B in capital commitments. When adding in related separate accounts, StepStone said total capital commitments for the fund came to $7.4B.

In a September 27 news release announcing the final close for StepStone Secondary Opportunities Fund V (SSOF V), the firm said the $4.8B of commitments is more than double that of its predecessor fund. SSOF V is over 50% committed to investments, and since inception StepStone said its secondaries strategy has invested over $14B in more than 210 private equity secondaries transactions. 

StepStone said SSOF V attracted a diverse set of institutional investors, including sovereign wealth funds, public and corporate pensions, endowments, foundations, family offices, and others.

View the press release here.

For more public pension insights and a comprehensive library of public plan minutes, book a demo of Dakota Marketplace!