Strategic Partners hires ex-GCM Grosvenor exec as finance head

The appointment comes one month after the Blackstone secondaries unit amassed $11.1bn for its Fund VIII.

Strategic Partners has hired GCM Grosvenor‘s former private equity fund finance head to lead finance operations.

Stephen Ramsthaler is listed as a managing director based in the Blackstone secondaries unit’s New York office, according to its website. It is understood he joined in August after retiring from GCM Grosvenor.

A spokeswoman for Blackstone confirmed his appointment.

Prior to joining Chicago-based GCM Grosvenor, Ramsthaler was a managing director in Credit Suisse’s asset management division, where he was responsible for overseeing various operations including Strategic Partners, prior to its purchase by Blackstone.

Grosvenor’s latest fund is its $700 million GCM Grosvenor Secondary Opportunities Fund II, which it closed in February last year. Its debut 2015-vintage secondaries fund collected $58.2 million, according to Secondaries Investor data.

Strategic Partners is investing its $11.1 billion Fund VIII, on which it held a final close in July.