Dechert Advises StepStone Group on $7.4 Billion Fundraising for Fifth Private Equity Secondaries Program

Dechert represented StepStone Group, a global private markets investment firm focused on providing customized investment solutions, on the European parallel fund close of StepStone Secondary Opportunities Fund V, L.P. (SSOF V) and its separate related accounts (together, Fund V) with US$7.4 billion of capital commitments. With US$4.8 billion in total capital commitments, SSOF V more than doubled the size of its predecessor fund.

This fundraising leverages StepStone’s broader platform to utilize its sponsor relationships, differentiated data and information access to create opportunities that may generate strong risk-adjusted returns. The fund is backed by a globally diversified group of institutional investors, including sovereign wealth funds, public and corporate pension funds, endowments, foundations, family offices and various others.

The Luxembourg and Ireland-based teams advising StepStone included financial services partners Patrick Goebel, Laura Rossi and Carol Widger, with associates Christine Renner, Alix Braun, Paolina Bajda, Thomas Tomasic and Rui Cheng.

About Dechert

Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our nearly 1,000 lawyers across 20 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.