Dechert Advises Ares as Primary Capital Holder in StepStone’s Historic US$3.1 Billion Structured Solutions Vehicle

Dechert advised Ares Management Alternative Credit funds as the primary capital provider to StepStone Group’s newly closed structured solutions vehicle. The vehicle attracted US$3.1 billion in debt and equity commitments predominately to be applied to private market secondaries. This transaction is the largest of its kind in the market globally to date.

Corporate and securities partner Anthony Lombardi led the Dechert team advising Ares. The team included finance and real estate partner John McGrath with counsel Eric Zeng and associate Lara Stockley; corporate and securities partner Giles Belsey with associate Ben Atkins; financial services partners Sam Kay and Abigail Bell with associate Hannah MacDonald; and global tax partner Jeff Kang with associate Cindy J. Moon.

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