StepStone Group related stories
All articles and analysis
NY Teachers' makes $90m bet on mid-marketThe pension, which reported assets of $95.8bn at the end of 2008, has committed money to Wynnchurch Capital Partners and Sterling Group Partners.
- LA Fire and Police search for PE consultant
The pension, which fired Aldus Equity in May, has a 10% target allocation to private equity.
- Shifting shape
A new document from the New York attorney general reveals PCG saw its share of economics in a controversial co-investment vehicle drop dramatically after an employee switched to another firm and took control of the fund’s management. Chris Witkowsky explores.
- PCG to pay $2m to settle with New York in pension scandal
An affiliate of the California-based gatekeeper was a minority partner in a co-investment fund accused of kicking back illegal fees for a $750m commitment from New York State Common Retirement Fund.
- StepStone president resigns amid kick-back scandal reports
Steve Moseley, who joined private equity advisor StepStone in 2008, said he is not a target of the ongoing pay-to-play investigation, but cited as a ‘distraction’ media reports about a co-investment platform created for New York’s state pension while Moseley was at a separate advisory firm.
- 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.
- StepStone wins AMP Capital mandate
The Southern California-based private equity advisor will manage AMP’s Future Directions Private Equity Fund and act as the firm’s ‘exclusive’ partner in Australia and New Zealand.
- Lehman buyout arm to spin out
Lehman Brothers Merchant Banking will partially spin out as an independent firm, while the failed bank will retain ownership of a portion of the funds. Limited partners in Lehman’s most recent buyout fund have been given the option to reduce unfunded commitments by 25%.
- StepStone pushes into secondaries
The Southern California-based private equity advisor has hired James Gamett to head up secondary investments, which the company believes has become an attractive investment area.
- LPs gear up for Lehman asset sell-off
LPs in Lehman's private equity funds have retained Kirkland & Ellis and private equity advisor StepStone to guide them through the auction of Lehman's venture and private equity funds. The bank hopes to close deals in the first quarter of 2009.