StepStone Real Estate Closes Fund IV With $1.4 Billion in Capital Commitments

prnewswire | September 29, 2020

StepStone Real Estate ("SRE") announced today the final closing of StepStone Real Estate Partners IV ("SREP IV"), its fourth in a series of funds focused on special situations secondaries and recapitalizations of real estate vehicles. SREP IV's $1.4 billion final closing exceeded the $1 billion target for the fund and notably, approximately $870 million of the commitments closed after the advent of the COVID-19 pandemic. Latham & Watkins LLP served as legal advisors for the formation of the fund. SREP IV is double the size of its predecessor, SREP III, which had its final closing in February 2017 with $700 million in primary commitments and invested capital of approximately $1.2 billion, including capital from co-investors.

Spotlight

The first three months of 2016 saw a slowdown in global hotel transactions, off the back of a stellar 2015. However, the market is all about consolidation as we enter Q2, says Mark Wynne Smith, Global CEO of JLL's Hotels & Hospitality Group. He gives his perspective on the first quarter numbers and explores what investors and operators can expect in the months to come.

Spotlight

The first three months of 2016 saw a slowdown in global hotel transactions, off the back of a stellar 2015. However, the market is all about consolidation as we enter Q2, says Mark Wynne Smith, Global CEO of JLL's Hotels & Hospitality Group. He gives his perspective on the first quarter numbers and explores what investors and operators can expect in the months to come.

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