StepStone Group related stories
All articles and analysis
NetApp to acquire VC-backed SolidFire for $870 mlnNetApp Inc has agreed to buy Boulder, Colorado-based SolidFire, provider of all-flash storage systems, for $870 million in cash. Solidfire's backers included Greenspring Associates, New Enterprise Associates, Novak Biddle, Samsung Ventures and Valhalla Partners.
Global fundraising recapFundraising recaps from the past month regarding Formation 8, 500 Startups, Partech and other firms from around the world
- UserZoom raises $34 mln
UserZoom Technologies has completed a $34 million financing led by TC Growth Partners. Trident Capital and StepStone Group also invested. San Jose, California-based UserZoom provides a research & testing SaaS platform.
PA SERS copes with sudden death of PE officialVeteran limited partner Michael Beblo, 62, director of alternative investments at the Pennsylvania State Employees’ Retirement System, died after heart surgery on August 2, a spokeswoman for the pension system confirmed.
- LAFPP: reporting could cover carried interest
The LA pension fund may commit up to $90 million to four new PE funds in the remainder of 2015.
- Everything But The House snags $30 mln Series B
Online real estate marketplace Everything But The House has raised $30 million in Series B funding. Greenspring Associates led the round with participation from return backers Greycroft Partners and Spark Capital. Also, EBTH has named Mandana Dayani as chief brand officer. Previously, Dayani served as vice president of Rachel Zoe Inc.
- Connecticut Retirement selects StepStone as PE adviser
The pension fund is committing $85 million to ArcLight.
Connecticut considers $75 mln commitment to Clearlake CapitalConnecticut Treasurer Denise Nappier is considering committing up to $75 million to Clearlake Capital Group’s fourth flagship fund, according to Treasury spokesman David Barrett.
- VC-backed Teladoc debuts IPO
Telehealth platform Teladoc has raised $156.75 million for its IPO after pricing its 8.25 million shares (originally planned at 7 million) at $19 per share. The stock began trading Wednesday on the New York Stock Exchange under the ticker symbol “TDOC.” J.P. Morgan Securities LLC and Deutsche Bank Securities Inc are the lead underwriters. Teladoc’s backers include Icon Ventures, FLAG Capital Management, Greenspring Associates, QuestMark Partners, Cardinal Partners, HLM Venture Partners, Kleiner Perkins Caufield & Byers, New Capital Partners and Trident Capital.
Co-investing conundrum: Good idea or too risky?Limited partner interest in co-investments and direct investments fell off a cliff in the second half of 2014, according to Preqin survey data. The percentage of investors who categorized themselves as active co-investors fell to 18 percent, roughly half of what it was six months earlier.