StepStone makes two secondaries-focused professionals partner

The appointment of Michael Cronin and Vincent Hsu were among 11 partner and MD-level promotions at the firm.

StepStone has promoted two of its investment professionals whose work includes secondaries to partner.

The firm promoted Michael Cronin in London and Vincent Hsu in Beijing, according to a statement. Both focus on primaries, secondaries and co-investments.

Cronin, who focuses on investments in the EMEA region, joined the firm in 2014 and has worked on more than 190 deals since then, according to a spokeswoman. He previously worked at Pomona Capital.

Hsu joined the firm in 2012 and previously worked in venture capital focusing on TMT investments in China.

The promotions were part of five partner-level appointments at the firm.

StepStone also made six managing director-level promotions including Adam Johnston, Bruna Riotto and Natalie Walker whose work includes secondaries.

StepStone is investing its 2017-vintage StepStone Secondary Opportunities Fund III which closed on $950 million, beating its $750 million target, according to Secondaries Investor data.

The firm is understood to be the lead buyer in the GP-led process on L Catterton‘s 2009-vintage Asian fund, as Secondaries Investor reported in December.