StepStone Group gears up for next Tactical Growth Fund

Harriet Matthews
26 July 2022

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Listed US-headquartered private markets investor StepStone Group has made a regulatory filing for StepStone Tactical Growth Fund IV (STGF IV).

The Luxembourg-domiciled vehicle was registered earlier this month.

STGF III held a final close in November 2021 on USD 690m. The Tactical Growth strategy makes primary fund investments, secondaries investments and co-investments, targeting portfolios with exposure to growth technology and healthcare.

Fried Frank Harris Shriver & Jacobson provided advice on the fundraise for STGF III.

LPs in the fund included public and private pension funds, sovereign wealth funds, insurance companies, endowments, foundations, family offices and high-net-worth individuals, according to Unquote Data.

StepStone declined to comment.

StepStone manages a range of private market strategies, including real estate, private debt, infrastructure, and its dedicated global and Europe-focused secondaries funds within its private equity strategy.

StepStone Secondary Opportunities Fund V held a final close in May 2022 on USD 2.1bn. The GP’s other recent activity includes its participation in a USD 220m Series D for London-based training and apprenticeship programme provider Multiverse in June 2022.

According to its website, the GP had made a total capital allocation of USD 570bn as of the end of March 2022, with USD 123bn AUM. It has 23 offices globally and employs more than 800 staff.