StepStone Group has named Weichou Su a managing director in the firm’s new Beijing office. Su will focus on the firm’s investments in China and throughout Asia.
StepStone has had investment professionals working in Asia for roughly two years, but only officially opened its Beijing office on Tuesday. The firm currently has a number of co-investments in the region and is looking to purchase secondary interests.
Prior to joining StepStone, Su was a managing director of the Hina Group, an investment bank and private equity firm focusing on greater China, where he headed the technology team and led the firm’s M&A advisory practice.
“The market in Asia and China in particular has grown very fast,” Monte Brem told PEO. “[Su]has worked very deeply in the private equity investment business for many years here, so [he] gives us a lot of local perspective on what’s happening in the market and who the investors are that we want to back and invest with.”
In July, StepStone announced it would manage about $4 billion of Citi Private Equity’s investments in funds that are near the end of their investment periods as part of a larger secondaries deal also including Lexington Partners.
StepStone oversees more than $20 billion of private equity investments through its offices in San Diego, New York and Beijing.