After just over a month as Leucadia Capital Partners, a newly formed Southern California private equity firm announced today that it has changed its name to StepStone Group so as to avoid a naming-rights dispute. The firm was originally named Leucadia as a tribute to the Encinitas, Calif., community in which the founders – Monte M. Brem, Thomas P. Keck, and Jose A. Fernandez – live and work.
Though the company performed an extensive review before selecting Leucadia Capital Partners as its name, according to a statement released today, another firm in “a different line of business” objected. To avoid a drawn-out dispute over naming rights, the company changed its name to “StepStone,” a reference to a beach in Leucadia.
“The name StepStone Group allows us to retain our connection to the Leucadia community and the values it represents,” Brem, StepStone’s chief executive officer, said in the statement.
Prior to founding StepStone, Brem was president of the asset management division of La Jolla gatekeeper Pacific Corporate Group.