StepStone Group agrees to acquire Greenspring Associates

The transaction is expected to close by the end of the year and reflect StepStone's expansion of its private market capabilities.

The StepStone Group announced it has agreed to acquire Greenspring Associates in a deal that would expand StepStone’s private equity team to more than 130.

Greenspring Associates manages more than $17 billion across venture capital and growth equity and invests in direct and secondary deals as well as into fund managers as a fund of funds. Founded in 2000, Greenspring is based in Baltimore and operates offices in London, Palo Alto, Beijing and Miami.

The deal is expected to close by the end of the year and is part of StepStone’s expansion of its private market capabilities.

Source: Press release