– StepStone Group Inc. announced it has raised $705 million for StepStone Tactical Growth Fund IV (STGF IV).
– STGF IV focuses on opportunities within the growth equity market.
Investors include sovereign wealth funds, public pensions, superannuation funds, funds-of-funds, family offices, and private wealth platforms.
– The Fund partners with leading growth equity sponsors in the technology and healthcare sectors.
– It targets founder-led businesses outside the traditional venture capital ecosystem with rapid topline growth, strong margins, capital efficiency, and minimal leverage.
– StepStone aims to provide complementary exposure to both buyout and venture investments, with liquidity not dependent on IPOs or large-scale M&A.
– STGF IV is managed by StepStone’s Venture Capital and Growth Equity Team, which deploys an average of $5.5 billion annually across direct investments, secondaries, and primary fund investments.
– The team includes more than 80 dedicated investment professionals.
Investment approaches include direct co-investments, single or multi-asset continuation vehicles, and secondary transactions.
– Brian Borton, CFA, Partner at StepStone, highlighted investor confidence in the growth equity market and StepStone’s trusted role with growth equity sponsors.
– Fried Frank, Harris, Shriver & Jacobson LLP advised on the formation of the Fund.
