Fundraising

The fund, which remains in market, has exceeded its target by more than $1bn and already marks a significant step up from its $5.8bn predecessor.

The platform’s close marks the second notable debut GP-led strategy to close this year after Leonard Green closed on more than $3.6bn last month.

StepStone’s live secondaries fundraising also includes vehicles dedicated to infra and VC, executives said on the firm’s recent earnings call.

Strong investor demand has already propelled the fund beyond its predecessor’s $5.2bn final close.

The GP-led-focused fund is more than a quarter invested and will target lower mid-market deals in North America.

Hamilton Lane’s Infrastructure Opportunities Fund II exceeded its $1.25bn target and tripled the size of its predecessor.

A majority of LPs are concerned about the ‘influence’ retail-oriented partnerships could have on the strategies of GPs, a Coller Capital survey found.

Traditional buyout firms are taking advantage of what is widely considered a deficit of capital available for the growing number of opportunities in the secondary market, as GPs and LPs seek ways to monetise assets in older funds.

Auldbrass acquires secondaries interests through LP-led and GP-led opportunities in mid-market buyout, global buyout and growth equity.

SISF V is the largest infrastructure vehicle that Stafford has raised to date and brings its total infra AUM to $2.7bn.