StepStone Group is set to launch a private debt-based European Long-Term Investment Fund (ELTIF), after securing regulatory approval.
The ELTIF will focus on private credit assets in the European Union, with investments aiming to support European economic growth and job creation. It will be marketed initially across Italy, Spain, Germany, France, and the Nordic and Benelux regions.
Read more: StepStone launches private credit fund for US wealth market
“As part of our continued expansion into the European private wealth market, this milestone marks yet another chapter in our story of delivering private markets strategies to more investors with the mission of convenience, efficiency, and transparency,” said Neil Menard, partner and president of distribution at StepStone Private Wealth.
“With this approval in place, we will now be able to deliver institutional-grade investments better tailored to the dynamics of European wealth platforms.”
Read more: Candriam and Kartesia launch private debt ELTIF
“We believe that this offering provides unique advantages and is very differentiated to all other solutions in the market,” added Marcel Schindler, head of StepStone Private Debt.
“The firm’s sourcing network can provide significant selectivity and diversification to investors in a market that is otherwise highly fragmented.
“Both institutional and individual investors alike are seeking efficient solutions such as this one. StepStone is well positioned to meet these expectations.”
StepStone has also received approval to convert the company’s three Reserved Alternative Investment Funds (RAIFs) into UCI Part II vehicles, allowing professional investors and semi-professional investors greater access to the private markets.
Read more: AXA IM Alts launches first private credit fund under ELTIF 2.0