StepStone Real Estate Announces Program Size Increase of StepStone Real Estate Partners V to $5.3 Billion

Core Insights - StepStone Real Estate has finalized its StepStone Real Estate Partners V GP-led secondaries program with total commitments of $5.3 billion [1] - The program initially closed with $4.5 billion in commitments, including a commingled fund of $3.77 billion and additional discretionary co-investment vehicles [2] - SREP V has committed to 12 investments totaling $3.2 billion, with an average investment size of approximately $266 million, significantly higher than previous funds [3] Investment Details - The recent transaction includes a planned €1.5 billion recapitalization of Vitalia, Spain's second-largest care home owner-operator, highlighting the growth in GP-led secondaries [4] - The increase in transaction volume and size reflects the broader acceptance of GP-led secondaries in the market [4] Company Overview - StepStone Group is a global private markets investment firm managing approximately $723 billion in total capital, with $199 billion in assets under management as of June 30, 2025 [5] - The firm serves a diverse client base, including large pension funds, sovereign wealth funds, insurance companies, endowments, foundations, family offices, and high-net-worth individuals [5]