StepStone Group related stories
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Frazier-Led Group Buys AndersonBrecon in $308 Mln DealAmerisourceBergen Corp. said Monday that it has completed the sale of AndersonBrecon to an investor group led by Frazier Healthcare. The purchase price was $308 million. The investor group includes Greenspring Associates, QIC Global Private Equity, and Thomas McNerney & Partners. AndersonBrecon, which has facilities in Rockford, Ill. and the U.K., provides packaging services.
- StepStone Collects $450 Mln for Secondary PE fund
StepStone Group said Tuesday it closed its secondary private equity fund at $450 million. StepStone Secondary Opportunities Fund II LP exceeded its original target of $350 million and closed at the hard cap. Together with allocated capital from separately managed accounts, StepStone has raised approximately $650 million for a focused and differentiated strategy within the secondaries market.
- AmerisourceBergen Announces Sale of AndersonBrecon
AmerisourceBergen Corporation has agreed to sell its contract packaging business, AndersonBrecon to an entity formed by affiliates of an investor group led by Frazier Healthcare VI, L.P. for the purpose of acquiring AndersonBrecon. The group is paying $308 million in cash, which is subject to adjustments. AmerisourceBergen is a pharmaceutical services company that serves the United States, Canada and selected global markets.
- Franklin Park Launches New Funds of Funds
Franklin Park, a private equity adviser spun out from Hamilton Lane in 2003, is offering its latest series of funds of funds to the firm’s advisory clients, according to a pair of filings with the U.S. Securities and Exchange Commission and one of those clients, the Arkansas Teachers’ Retirement System.
- StepStone Group Names John Coelho, Scott Hart Partners
John Coelho and Scott Hart have been promoted to partner at StepStone Group. Both have been with the firm for six years, StepStone said in a written release. Coelho is a member of the research team and focuses on venture capital and growth equity investments. Hart is a member of the research team and focuses on European investments, energy investments and co-investments.
- Friday Letter: Involve your investors
The orderly sell-off of various Lehman Brothers private equity assets has included one overriding feature GPs across the industry should carefully note - the inclusion of limited partners in decision making.
- Secondaries Special: Crowding the market
New entrants to the private equity secondary market are attracting talent and capital that was previously the sole preserve of dedicated secondaries investors. Graham Winfrey reports
- Secondaries Special: Finding a cure for zombies
A recent fund restructuring on the secondary market illustrates how secondaries firms can help create options for LPs in funds well beyond their contractual lives. By Christopher Witkowsky
- Montana shifts focus to mid-market
Exit environment and value creation concerns have prompted the Montana Board of Investments to refocus its private equity programme toward the lower and mid-market.
- StepStone bulks up in Europe with Parish buyout
The Monte Brem-led firm has acquired Parish Capital Advisors, a small and niche market specialist in the US and Europe with $2bn in assets under management.