StepStone acquires Swiss Capital

StepStone, the international private markets manager, has acquired Swiss Capital for an undisclosed sum.

Swiss Capital is an alternative asset manager offering customized products across hedge funds and debt to institutional investors, primarily in Switzerland, Germany and Austria.

Following the deal StepStone will launch StepStone Private Debt and StepStone Hedge Funds, expanding its geographical reach and the range of options it can offer clients.

“Private debt has become a crucial strategy as institutions facing overexposure to maturing bonds and low yields seek to diversify and replace current investments with debt instruments that can meet their return criteria,” StepStone’s chief executive Monte Brem said in a statement. “Swiss Capital’s deep expertise in constructing customized private debt solutions perfectly complements StepStone’s approach to serving clients in other private markets.”

In a separate deal StepStone has also acquired the infrastructure and real assets team from KPMG. The team is led by James O’Leary.