StepStone raises more than $2bn for secondary fund

The StepStone Group announced the closing of its fourth secondary strategy – StepStone Secondary Opportunities Fund IV.

Officials said they surpassed their original $1.25 billion target and raised $2.1 billion of commitments. Together with capital from separately managed accounts, the firm has raised over $2.4 billion for its differentiated secondary private equity strategy.

The fund is managed by the co-heads of StepStone’s secondaries practice, Thomas Bradley and Mark Maruszewski, together with 25 members of StepStone’s global secondaries team. The strategy is focused on inefficient segments of the secondaries market, where . . .

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