StepStone announces leadership transition

Brem will remain chairman of the board, completing a planned leadership transition that began when Hart was named co-CEO in 2019. Hart will remain head of private equity.

In a statement, Brem said that Hart had been a "key part" of the firm's journey since inception in 2007, as he helped build the private equity co-investment business, set up the European operations and "cultivated long-lasting client relationships".

As co-CEOs, Brem and Hart worked together on initiatives including the firm's initial public offering in September 2020 and the acquisition of Greenspring Associates a year later.

New York-headquartered StepStone is a global private markets investment firm specialising in fund investments, secondaries and co-investments across the private equity, infrastructure, private debt and real estate asset classes. The firm has around USD 237bn in private equity assets under either management or administration, according to its website.

StepStone recently filed registration documents for the fifth vintage in its secondaries private equity fund strategy. The firm held a final close for its fourth secondaries private equity fund, StepStone Secondary Opportunities Fund IV (SSOF IV), on USD 2.1bn in early 2020. SSOF IV surpassed its original target of USD 1.25bn. It is larger than its predecessor, SSOF III, which closed on USD 950m in June 2017, exceeding its USD 750m target.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• People
• LPs
• people moves
• Secondaries