Global private markets advisory firm StepStone Group LP, today announced it will acquire Swiss Capital Alternative Investments and launch new private debt and hedge fund strategies.
StepStone have taken over one of Europe's leading hedge fund solutions, Swiss Capital, with completion of the consolidation expected to close before the end of the year. Off the back of this, StepStone is set to launch StepStone Private Debt and StepStone Hedge Funds to help deepen the firm's reach across the Swiss network.
Swiss Capital has more than US$5 billion of assets under its alternative asset management and offers solutions to institutional investors across customised platforms throughout Europe, with focus primarily on markets in Switzerland, Germany and Austria.
The latest additions to StepStone's offerings join several other private market solutions under the firm, including real estate, infrastructure, private equity and real assets. The acquisition of Swiss Capital is now set to secure StepStone's place in the area of private debt solution.
"Private debt has become a crucial strategy as institutions facing overexposure to maturing bonds and low yields seek to diversify and replace current investments with debt instruments that can meet their return criteria," StepStone chief executive, Monte Brem, said.
"Swiss Capital has a proven track record of global…bringing an important local presence in continental Europe, where their fluency with languages, cultures and regulatory processes are key differentiators in adding value to our clients' investment decisions."
Swiss Capital chief executive, Marcel Schindler, was equally confident in the benefits of the partnership, adding that integrated knowledge of large-scale portfolios places the investment company in a prime position for a partnership with StepStone.
"Together, we will deliver expertise in assessing, investing, managing and advising on the entire range of alternative investments. This new partnership will benefit clients greatly by providing increased insight and access into all areas of the global private markets," Swiss Capital chairman, Hans-Jörg Baumann, said.