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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.

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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.