Stepstone
India’s Zepto raises $200m at $1.4bn valuation
Indian grocery delivery start-up Zepto has raised a USD 200m Series E round led by StepStone Group at a valuation of USD 1.4bn.
StepStone adds three partners in Asia
Randy Wang, a private equity specialist who works out of Beijing, is one of three Asia-based investment professionals that StepStone Group has promoted to partner.
Deal focus: TR leads $150m multi-asset secondary for India's Samara
TR Capital first worked with Samara Capital on a single-asset continuation fund for Sapphire Foods India – and saw the local Yum Brands franchisor go public about three months after the deal was announced. It has now reunited with Samara for what amounts...
ESG: The case for convergence
With ISSB pursuing pre-eminence in sustainability-related financial disclosures and TCFD emerging as a preferred climate framework, investors and investees will have to get more serious about reporting
Jungle closes fourth SE Asia, India VC fund on $600m
Jungle Ventures has reached a final close of USD 600m on its fourth flagship Southeast Asia and India-focused VC fund. The initial target was USD 350m.
Japan mobile banking player Kyash gets $41m Series C
Altos Ventures, Goodwater Capital, Greyhound Capital, and StepStone Group are part of an investor group that has committed JPY 4.9bn (USD 41m) in Series D funding to Tokyo-based mobile banking start-up Kyash.
ESG scoring: Measured approach
Investors are encouraged to keep experimenting in quantifying and qualifying the real-world outcomes of their sustainable investment programs. Every report is imperfect yet worthwhile
ESG reporting pressures pile on GPs, LPs – AVCJ Forum
Rising compliance standards and COVID-19 have heightened the need for detailed reporting on environmental, social and governance (ESG) issues, LPs told the AVCJ ESG Forum.
Subscription credit: Fine lines
Increased standardization on disclosure has improved the visibility LPs have into how private equity firms are using subscription credit lines, but they must be mindful of attempts to loosen terms.
StepStone promotes Australia-based Suzanne Tavill to partner
Suzanne Tavill, a Sydney-based managing director with StepStone Group, has been elevated to partner. It was one of four partner-level promotions made by the firm globally.
Australia's Blackbird completes Fund I strip sale
Australia’s Blackbird Ventures has completed a GP-led secondary transaction whereby StepStone Global and HESTA have acquired interests from its debut fund for approximately A$100 million ($69 million).
China tech valuations: Unnatural acts
China’s tech sector is gripped by uncertainty, but some GPs will do anything to avoid marking down their portfolios. LPs are entitled to ask whether unicorns are still worthy of a billion-dollar valuation
StepStone adds partner in Beijing
StepStone Group, a provider of private markets advisory and asset management services to institutional investors, has promoted Beijing-based Vincent Hsu to partner.
Taiwan LPs: Increased exposure
As much as $10 billion could be released for investment in private equity following a hike in alternatives allocations for Taiwanese insurers. However, the major players will still deploy their capital with caution
Taiwan PE remains a tough sell for LPs – AVCJ Forum
Appreciation of Asia’s private equity has grown among LPs as commitments to the asset class pay off in developed and emerging markets, but investing in Taiwan is difficult to justify due to the absence of a strong local identity.
StepStone wins GPIF infrastructure mandate
Japan’s Government Pension Investment Fund (GPIF) – the world’s largest pool of retirement savings – has awarded a global infrastructure fund-of-funds mandate to StepStone Group.
Taiwan PE: Local problem, local solution
Mutual fund managers are expected to be among the first beneficiaries of moves by the Taiwan government to cultivate a domestic PE ecosystem. Industry participants are optimistic, but they must be patient
LPs adapt to growing sophistication - AVCJ Forum
As the Asian private equity industry continues to grow, LPs told the AVCJ Forum that they are encouraged by its similarity to the development of other markets.
Arizona PSPRS commits $90m to StepStone Asia fund
Arizona Public Safety Personnel Retirement System (Arizona PSPRS) has agreed to commit up to $90 million to a StepStone AZ China and Asia Opportunity Fund.
StepStone enters real estate space, targets Asia expansion
StepStone has moved into the real estate sector with the addition of executives from Clairvue Capital Partners. The new team has built portfolios in the US and Europe and plans to add professionals in Asia over the next 12 months.
Stepstone completes Greenpark deal
StepStone Group has merged with secondaries specialist Greenpark Capital. The widely-anticipated transaction has been confirmed, but a spokesperson declined to give more information on how it was structured, citing confidentiality requirements.
Fund-of-funds: Bespoke solutions
Reports of the death of fund-of-funds in Asia are greatly exaggerated – but all industry participants are diversifying their product offerings to meet specific client demands. Is it still primarily a scale game?
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...
StepStone adds two managing directors to Asia team
StepStone has appointed Mu-shin Kim and Andy Tsai as managing directors to its Asia team. While Kim will cover investments and business development in Korea and Japan, Tsai will focus on Taiwan and broader Asia. Both will be based in the firm’s Beijing...