Conversus StepStone Private Markets Exceeds $500 Million in Assets Under Management within 18 Months

• Generated NAV growth of 70.5% since inception in October 2020
• Conversus adds senior distribution leaders in the US and Europe—Celine El Debs and Brett Schlemovitz

CHARLOTTE, N.C., April 26, 2022 (GLOBE NEWSWIRE) -- Conversus, an investment platform designed to expand access to the private markets for high net worth and accredited investors, today announced that its inaugural fund, Conversus StepStone Private Markets (“CPRIM”), has surpassed $500 million of assets under management (“AUM”). CPRIM, which offers accredited investors diversified, global exposure to the major private market asset classes—private equity, real assets, including infrastructure and real estate, and private debt—in a single investment, was launched on October 1, 2020, achieving this AUM milestone within 18 months. Conversus acts as adviser to CPRIM and is a wholly owned business of StepStone Group LP (“StepStone”), which acts as sub-adviser.

CPRIM has generated net asset growth per share of over 70.5% through March 31, 2022, with NAV increases in 16 of its 18 months since inception. These gains were driven primarily by realizations and strong performance in the fund’s portfolio of over 750 companies that are broadly diversified on all key metrics. CPRIM continues to expand its portfolio each month with new private equity and real asset investments sourced by StepStone’s global platform of over 750 professionals with offices in 23 cities across 14 countries.

“CPRIM’s rapid growth shows that investors have embraced our focus on convenience, efficiency and transparency,” said Bob Long, CEO of Conversus. “Equally important, we are confident that StepStone can continue to deploy CPRIM’s expanding capital in investments that fit our return and cash flow parameters.”

Conversus also announced two key new hires within its global distribution team to support the growth—Brett Schlemovitz as Managing Director of Private Wealth Solutions and Celine El Debs as Managing Director of Europe, Middle East and Asia (EMEA).

Mr. Schlemovitz joins Conversus from CNL Financial Group where he oversaw the firm’s Private Equity platform and was Chief Operating Officer of Strategic Capital. He is based in New York.

Ms. El Debs joins Conversus from Quintet Private Bank where she led the offering and distribution of alternative investments, including private markets. She is based in Zurich, Switzerland.

“We are very pleased that Brett and Celine have joined our team and believe we are building the infrastructure to support the scale and growth we are experiencing,” said Neil Menard, President, Global Distribution.