Vice Chairman Erik Hirsch said the firm has extended the deadline for the flagship secondary fund's close to March-end 2024.
The firm reported strong fundraising activity across both strategies during the quarter, supported by persistent institutional demand for private markets liquidity solutions.
The firm held the final close of its debut infrastructure secondaries fund during the quarter, reaching its $1.5 billion hard cap and marking StepStone's largest inaugural fundraise to date.
The firm has reportedly committed over $40 million to a strategy backing independent sponsors in primary and secondary deals, alongside GP seeding for management company stakes.
We outline the investment strategy, performance, and other key details of the Liberty Street Advisors-managed fund.
Mill Reef Capital Fund III will continue the Swiss firm's strategy of investing in smaller, often bespoke GP-led secondary transactions in Europe's small-buyout and lower-mid-market segments.
The firm's $3.1 billion in Q3 secondaries inflows were driven primarily by its tenth private equity and ninth real estate secondary funds.
The firm is looking to match the size of its predecessor, which closed in 2023 with $22 billion in capital commitments.
The India-focused vehicle has a target size of $75 million and will allocate capital across primaries, secondaries, and co-investments.
The firm's secondaries business topped the $100 billion AUM milestone during the first quarter.
