Industry Private Equity Headquarters New York City Number of employees 150 Total assets 12 billion USD | Products Leveraged Buyout Founded 2006 Type of business Private Ownership | |
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Subsidiaries StepStone Group Real Estate LP, Clairvue Capital Partners, StepStone Real Estate | ||
The StepStone Group LP (StepStone) is an American private equity firm specializing in leveraged buyouts of privately held or publicly traded companies, direct, fund of funds, secondary direct, and secondary indirect investments.
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History
StepStone was founded in 2006 and is based in La Jolla, California and New York, New York. The founders, Monte Brem and Thomas Keck had previously made private equity investments for Pacific Corporate Group, as President and Managing Director, respectively. From its first office in La Jolla, the firm has expanded to New York City, San Francisco, London, Beijing, Hong Kong, Seoul, Sao Paulo, and Perth. The firm oversees US$60 billion of private capital allocations, including over US$12 billion of assets under management.
In March 2015, it was published that StepStone would move its Manhattan headquarters to the former offices of Bernard L. Madoff Investment Securities, and the site of where company head Bernard Madoff operated his $65 billion Ponzi scheme.
Investments
StepStone typically invests between $15 million and $200 million in firms with enterprise value between $150 million and $2.5 billion.