North America

In conjunction with the transaction, StepStone has increased its record-breaking SREP V secondaries fundraise to €5.3bn.

More capital was raised for the strategy between Q1 and Q3 than the $118bn gathered in 2023.

The investment bank is ramping up its push into private wealth, focusing on distributions and unique product offerings.

Secondaries Investor launches its inaugural Global Market Survey to map the market, its drivers and the changing nature of the asset class.

The pension fund’s sale of private fund stakes in private equity and real estate is understood to be substantial in size, Secondaries Investor has learned.

‘We tend to like single-asset continuation vehicles if the story is right if it’s with a sponsor that we think is the right owner for that asset going forward,’ according to deputy CIO Allen Waldrop.

Two secondaries-focused professionals have been included in PEI Group’s annual list of the most impressive women in private markets.

The programme is one of the largest infrastructure secondaries platforms raised and follows Blackstone Strategic Partners’ $5.5bn fund close in August.

While ’40 Act funds haven’t yet moved market pricing in GP-led deals, these evergreen funds are ‘certainly are participating and creating syndicate demand’, Baird’s GP solutions group co-head Jeremy Duksin tells Secondaries Investor.

The deal is one of the rarer energy assets to make use of secondaries as a way to extend holds and deliver liquidity to limited partners in an older fund.