StepStone takes over Swiss Capital

As part of the acquisition, the acquirer will launch StepStone Private Debt and StepStone Hedge Funds.

Swiss Capital is an international alternative asset manager with around $5bn of assets under management. It offers its services across a variety of platforms to institutional investors, primarily in Switzerland, Germany and Austria.

Prior to the merger, StepStone already offered private market products including private equity, private debt, real estate and infrastructure. The addition of the Zurich and Dublin offices will expand StepStone's local European team to more than 70 professionals. Swiss Capital's management team will continue to lead the private debt and hedge fund teams and is responsible for the management of these two business lines.

Private markets firm StepStone oversees $81bn of private capital allocations, including approximately $14bn of assets under management. It has around 170 professionals across eleven offices in Beijing, Hong Kong, La Jolla, London, New York, Perth, San Francisco, Sao Paulo, Seoul, Sydney and Tokyo.

Alternative asset manager Swiss Capital was founded in 1998. It has 50 professionals across two offices in Zurich and Dublin.

The deal is expected to close before year end 2016.

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