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StepStone receives $75m commitment from Border to Coast

The UK pension pool has backed the manager's fourth series secondaries vehicle.

Institution: Border to Coast Pensions Partnership
Headquarters: Leeds, UK
AUM: £46 billion

Border to Coast Pensions Partnership has confirmed a $75 million commitment to StepStone Secondaries Opportunities Fund IV made earlier this year, according to a recent press release on the pension pool’s website.

The vehicle held a final close in April 2020 on $2.1 billion, surpassing its fundraising target of $1.25 billion.

This is the first known fund commitment Border to Coast has made to a secondaries fund since the pension pool was founded in 2018.

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