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StepStone closes Swiss Capital acquisition

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StepStone Group has closed the acquisition of Swiss Capital Alternative Investments, a European private debt and hedge fund solutions provider.

The transaction was originally announced in May 2016, and has been in the process of receiving regulatory approvals since then.
 
As part of the transaction, StepStone has launched StepStone Private Debt and StepStone Hedge Funds, which combines the firm’s existing global private markets capabilities and institutional client network with Swiss Capital’s expertise in the private debt and hedge fund strategies. The enhanced platform aims to deliver superior risk-adjusted returns through highly customised portfolios.
 
Monte Brem (pictured), chief executive officer of StepStone, says: “Institutions increasingly need to look beyond traditional asset class allocations as they face overexposure to maturing bonds and low global yields. The continued expansion of our capabilities in private debt and hedge funds provides replacement and diversification options for our clients’ investment portfolios and an important tool to help them meet their risk, return and liquidity criteria.”
 
The combined platform will expand StepStone’s local European presence to approximately 90 professionals across three offices. Swiss Capital’s management team will continue to lead the private debt and hedge fund teams and is responsible for the management of these two businesses.
 
Marcel Schindler, chief executive officer of StepStone Private Debt and StepStone Hedge Funds, says: “Our combined organisation’s deep coverage of private equity, real estate, infrastructure and real assets, private debt and hedge funds enables us to provide strategic asset allocation guidance across all private markets.”

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