NEW YORK--(EON: Enhanced Online News)--StepStone Group LP (“StepStone”) today announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG (“Swiss Capital”), one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory approvals since then.
“Our combined organization’s deep coverage of private equity, real estate, infrastructure and real assets, private debt and hedge funds enables us to provide strategic asset allocation guidance across all private markets.”
As part of this transaction, StepStone has launched StepStone Private Debt and StepStone Hedge Funds, which combines the Firm’s existing global private markets capabilities and significant institutional client network with Swiss Capital’s deep expertise in the private debt and hedge fund strategies. This enhanced platform aims to deliver superior risk-adjusted returns through highly customized portfolios.
Monte Brem, Chief Executive Officer of StepStone, said, “Institutions increasingly need to look beyond traditional asset class allocations as they face overexposure to maturing bonds and low global yields. The continued expansion of our capabilities in private debt and hedge funds provides replacement and diversification options for our clients’ investment portfolios and an important tool to help them meet their risk, return and liquidity criteria.”
The combined platform will expand StepStone’s local European presence to approximately 90 professionals across three offices. Swiss Capital’s management team will continue to lead the private debt and hedge fund teams and is responsible for the management of these two businesses.
Marcel Schindler, Chief Executive Officer of StepStone Private Debt and StepStone Hedge Funds, commented, “Our combined organization’s deep coverage of private equity, real estate, infrastructure and real assets, private debt and hedge funds enables us to provide strategic asset allocation guidance across all private markets.”
About Swiss Capital
Swiss Capital, founded in 1998, is an international alternative asset manager with more than US$6.5 billion of assets, offering customized solutions across a variety of platforms to institutional investors, primarily in Switzerland, Germany and Austria.
The combined organization is a global private markets firm overseeing over US$100 billion of private capital allocations, including approximately US$28 billion of assets under management. It has over 250 professionals across fourteen offices in Beijing, Dublin, Hong Kong, La Jolla, London, New York, Perth, San Francisco, Sao Paulo, Seoul, Sydney, Tokyo, Toronto and Zurich.
This document is meant only to provide a broad overview for discussion purposes. All information provided here is subject to change. Notations of capital allocations are denoted in USD and, unless otherwise specified, reflect the total combined assets of both firms as of December 7, 2016. The global offices and personnel count reflect the combined count for both firms as of December 7, 2016. This document is based on the completion of the StepStone Group LP (“StepStone”) and Swiss Capital Alternative Investments AG (“Swiss Capital” or “SCAI”) transaction, which received customary regulatory approvals on December 2, 2016. This document is for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation for any security, or as an offer to provide advisory or other services by SCAI or StepStone Group LP, StepStone Group Real Assets LP, StepStone Group Real Estate LP, or their subsidiaries or affiliates (collectively, “StepStone”) in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful under the securities laws of such jurisdiction. The information contained in this document should not be construed as financial or investment advice on any subject matter. StepStone expressly disclaims all liability in respect to actions taken based on any or all of the information in this document. Each of StepStone Group LP, StepStone Group Real Assets LP and StepStone Group Real Estate LP is an investment adviser registered with the Securities and Exchange Commission. StepStone Group Europe LLP is authorized and regulated by the Financial Conduct Authority, firm reference number 551580. SCAI is regulated by the Swiss Financial Authority (“FINMA”) as a Securities Dealer and its subsidiary, Swiss Capital Invest Holding (Dublin) Ltd., is an Alternative Investment Funds Manager (“AIFM”) licensed by the Central Bank of Ireland. Swiss Capital Invest Holding (Dublin) Ltd (“SCHIDL”) is an SEC registered investment advisor and Swiss Capital Alternative Investments AG (“SCAI”) (together SwissCap) is registered as a relying advisor with the SEC, such registrations does not imply a certain level of skill or training and no inference to the contrary should be made.