StepStone reaches $450m close on secondaries fund
StepStone has held a final close of $450 million on its global secondaries fund. The vehicle, StepStone Secondary Opportunities Fund II, exceeded the original target of $350 million with commitments coming from public and corporate pension funds, insurance companies, endowments and foundations, family offices, and financial service and advisory firms.
According to a regulatory filing, Taiwan-based Cathay Life Insurance invested $20 million in the fund. "In a difficult fundraising environment, we are appreciative of the support and confidence that...
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