The fund will be managed by Bradley alongside co-head Mark Maruszewski and supported by a 37-person team, including Adam Johnston and John Kettnich.
StepStone $7.4B Secondaries Fund : Growth Compared to Previous Fund
This fifth fund marks a significant increase in size compared to StepStone Secondary Opportunities Fund IV, which closed in 2020 with $2.1 billion in commitments, more than doubling its predecessor. The fourth fund had initially set a $1.25 billion target, eventually ranking as the ninth-largest fund closure in the second quarter of 2020.
StepStone’s Leading Role in Private Equity Secondaries
StepStone has established itself as a leader in secondary liquidity solutions, deploying more than $14 billion across 210 private equity secondaries transactions. As of June 30, the firm managed approximately $170 billion in assets, with $27 billion specifically dedicated to secondary solutions. Overall, StepStone oversees $701 billion in total capital.
Legal Advisors
The Fried Frank legal team advising on the fund was led by corporate partner Jeffrey Schatz, with contributions from corporate partner Kenneth Rosh, tax partner Rodney Hill, and executive compensation and ERISA partner Andrea Pollak.
