StepStone Group related stories
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- Lithium Technologies Inks $53.4M
Emeryville, Calif.-based e-commerce and marketing company Lithium Technologies has raised a whopping $53.4 million in new capital. New investor New Enterprise Associates led the round, with participation from new backer SAP Ventures as well as “all existing Lithium investors,” the company said. Lithium previously raised capital from investors including DAG Ventures, Tenaya Capital, Benchmark Capital, Emergence Capital and Shasta Ventures. The Series D round will go towards growth, including bolstering sales and marketing efforts.
- StepStone Group Buys Parish Capital Biz
StepStone Group is acquiring the funds management business of Parish Capital Advisors, a private equity investment manager with $2 billion under management, the firms announced Wednesday. Terms of the acquisition, which is expected to close in January, were not released.
- Wisconsin to Commit $6B+ to PE Through 2016
Following the best performance in 25 years for Wisconsin’s main pension fund, the State of Wisconsin Investment Board http://www.swib.state.wi.us/Default.aspx outlined long range plans to commit more than $6 billion to private equity through 2016, including $1 billion in both 2011 and 2012, rising to $1.4 billion per year in 2015 and 2016, according to a report by StepStone Group http://www.stepstonellc.com/ , Wisconsin’s private equity advisor. Overall, the IRR for Wisconsin’s private equity portfolio was 12.9 percent for the year through March, beating the portfolio’s 12.1 percent benchmark, according to StepStone. Private equity returns for Wisconsin represented a gain of $949 million for the year.