People

StepStone promotes European secondaries exec to partner

The listed asset manager is in market with StepStone Secondary Opportunities Fund V and had raised at least $1.2bn as of June.

-

StepStone, the fourth-largest secondaries firm by fundraising, according to the SI 50, has promoted a raft of professionals to its partnership, including a senior European secondaries executive.

Philippe Ferneini was appointed as partner alongside nine other professionals, according to a statement.

London-based Ferneini joined the firm from Glendower Capital in 2019, where he had been for five years. Secondaries Investor reported that he was joining as European secondaries head. He was recognised in Secondaries Investor‘s Next Gen Leaders Class of 2018 list.

The firm also promoted 19 professionals to managing director.

StepStone is in market with its latest private equity secondaries fund, StepStone Secondary Opportunities Fund V, and had raised at least $1.2 billion as of June 2022. The vehicle launched in May, according to Secondaries Investor data.

The New York-listed asset manager raised $19.4 billion for secondaries in the five years to June last year, according to data compiled for the SI 50 ranking.