StepStone Real Estate Announces Program Size Increase of StepStone Real Estate Partners V to $5.3 Billion
StepStone Real Estate (NASDAQ: STEP) finalized its GP-led secondaries program StepStone Real Estate Partners V (SREP V) at $5.3 billion in total commitments as of Oct 16, 2025.
In April 2025 the program had closed $4.5 billion (including a $3.77 billion commingled fund); as of Sept 30, 2025 an additional $800 million in discretionary co-investment commitments was secured. SREP V has committed to 12 investments totaling $3.2 billion to date, with an average investment size of about $266 million, compared with prior vintage averages of $33M, $63M and $118M. The firm cited a €1.5 billion planned recapitalization of Vitalia in Spain as a recent example of larger transactions.
StepStone Real Estate (NASDAQ: STEP) ha finalizzato il suo programma secondario GP-led StepStone Real Estate Partners V (SREP V) per un totale di impegni di 5,3 miliardi di dollari al 16 ottobre 2025.
Ad aprile 2025 il programma aveva chiuso 4,5 miliardi di dollari (incluso un fondo commingled da 3,77 miliardi di dollari); al 30 settembre 2025 è stato assicurato un ulteriore impegno di co-investimento discrezionale di 800 milioni di dollari. SREP V si è impegnato in 12 investimenti per un totale di <: numeral>3,2 miliardi di dollari, con una dimensione media degli investimenti di circa 266 milioni di dollari, rispetto alle medie delle annate precedenti di 33M, 63M e 118M. L'azienda ha citato una ricapitalizzazione pianificata di 1,5 miliardi di euro di Vitalia in Spagna come esempio recente di operazioni di grandi dimensioni.
StepStone Real Estate (NASDAQ: STEP) finalizó su programa secundario dirigido por el GP StepStone Real Estate Partners V (SREP V) con 5,3 mil millones de dólares en compromisos totales al 16 de octubre de 2025.
En abril de 2025 el programa había cerrado 4,5 mil millones de dólares (incluido un fondo comingleado de 3,77 mil millones de dólares); al 30 de septiembre de 2025 se aseguraron, además, 800 millones de dólares en compromisos de co-inversión discrecional. SREP V se ha comprometido a 12 inversiones por un total de 3,2 mil millones de dólares a la fecha, con un tamaño medio de inversión de aproximadamente 266 millones de dólares, en comparación con promedios de actuaciones anteriores de 33M, 63M y 118M. La firma citó una recapitalización planificada de €1,5 mil millones de Vitalia en España como un ejemplo reciente de transacciones de mayor tamaño.
StepStone Real Estate (NASDAQ: STEP)가 GP 주도 2차 거래 프로그램 StepStone Real Estate Partners V (SREP V)를 2025년 10월 16일 기준 53억 달러의 총 약정으로 마감했습니다.
2025년 4월에는 45억 달러를 기록했고(세 가지 합동 펀드 37억 달러를 포함), 2025년 9월 30일 기준으로는 추가로 8천만 달러의 재량적 코인베스트먼트 약정이 확정되었습니다. SREP V는 현재까지 12건의 투자에 총 32억 달러를 약정했으며, 투자당 평균 규모는 약 2.66억 달러로, 이전 빈티지의 평균 3,300만, 6,300만, 1.18억 달러와 비교됩니다. 이 회사는 스페인 비탈리아의 미화 15억 유로 규모의 계획된 재자본화를 최근 사례로 언급했습니다.
StepStone Real Estate (NASDAQ: STEP) a finalisé son programme secondaire dirigé par le GP StepStone Real Estate Partners V (SREP V) pour un total d'engagements de 5,3 milliards de dollars au 16 octobre 2025.
En avril 2025, le programme avait clôturé 4,5 milliards de dollars (dont un fonds commingled de 3,77 milliards de dollars); au 30 septembre 2025, un supplémentaire de 800 millions de dollars d'engagements de co-investissement discrétionnaire a été sécurisé. SREP V s'est engagé dans 12 investissements pour un total de 3,2 milliards de dollars à ce jour, avec une taille moyenne d'investissement d'environ 266 millions de dollars, par rapport à des moyennes des années précédentes de 33M, 63M et 118M. La société a cité une recapitalisation planifiée de 1,5 milliard d'euros de Vitalia en Espagne comme exemple récent de transactions de grande envergure.
StepStone Real Estate (NASDAQ: STEP) hat sein GP-geführtes Sekundärprogramm StepStone Real Estate Partners V (SREP V) mit insgesamt 5,3 Milliarden USD an Verpflichtungen zum 16. Okt. 2025 abgeschlossen.
Im April 2025 schloss das Programm 4,5 Milliarden USD ab (einschließlich eines gemischten Fonds von 3,77 Milliarden USD); zum 30. Sept. 2025 wurden zusätzlich 800 Millionen USD an diskretionären Co-Investments gesichert. SREP V hat sich bisher zu 12 Investitionen in Höhe von insgesamt 3,2 Milliarden USD verpflichtet, bei einer durchschnittlichen Investitionsgröße von ca. 266 Millionen USD, verglichen mit Durchschnittswerten früherer Jahrgänge von 33M, 63M und 118M. Das Unternehmen nannte eine geplante Rekapitalisierung von 1,5 Milliarden Euro für Vitalia in Spanien als aktuelles Beispiel größerer Transaktionen.
StepStone Real Estate (بورصة ناسداك: STEP) أنهى برنامجه الثانوي بقيادة GP StepStone Real Estate Partners V (SREP V) بإجمالي التزامات قدرها 5.3 مليار دولار حتى 16 أكتوبر 2025.
في أبريل 2025 كان البرنامج قد أغلق 4.5 مليار دولار (بما في ذلك صندوق مشترك بقيمة 3.77 مليار دولار)؛ وبحلول 30 سبتمبر 2025 تم securing التزام إضافي قدره 800 مليون دولار كاستثمار مشترك تقديري. التزمت SREP V حتى الآن بـ 12 استثمارًا بإجمالی 3.2 مليار دولار، بمعدل استثمار تقريبي قدره 266 مليون دولار، مقارنة بمتوسطات الأجيال السابقة البالغة 33M، 63M و118M. وأشارت الشركة إلى إعادة رسملة مخطط لها بقيمة 1.5 مليار يورو لـ Vitalia في إسبانيا كمثال حديث على صفقات أحجام كبيرة.
StepStone Real Estate (NASDAQ: STEP) 已完成其 GP 主导的次级市场计划 StepStone Real Estate Partners V (SREP V)，截至 2025 年 10 月 16 日的总承诺金额为 53 亿美元。
2025 年 4 月，该计划已关闭 45 亿美元（包括一个 37.7 亿美元 的混合基金）；截至 2025 年 9 月 30 日，另有 8,000 万美元的裁量性共同投资承诺被确认。SREP V 迄今已承诺 12 笔投资，总额为 32 亿美元，投资规模的平均值约为 2.66 亿美元，与前一 vintages 的平均值 3,3 千万美元、6,3 千万美元 和 11.8 千万美元 相比。公司还提到西班牙 Vitalia 的计划再资本化金额 1.5 亿欧元，作为较大交易的最近示例。
- Program size increased to $5.3 billion total commitments
- Incremental commitments of $800 million secured by Sept 30, 2025
- 12 investments committed totaling $3.2 billion to date
- Average deal size rose to ~$266 million versus prior vintages
- Large average investment size (~$266M) may raise concentration risk
- Single announced deal: €1.5 billion Vitalia recapitalization is a large single exposure
NEW YORK, Oct. 16, 2025 (GLOBE NEWSWIRE) -- StepStone Real Estate (“SRE”), the real estate arm of StepStone Group (NASDAQ: STEP), a global private markets investment firm, today announced that it has finalized the size of its StepStone Real Estate Partners V (“SREP V”) GP-led secondaries program, with total commitments of
In April 2025, SRE announced it had closed
To date, SREP V has committed to 12 investments totaling
“As the market for GP-led secondaries has become broadly accepted, we’ve experienced a meaningful increase in both transaction volume and size in our practice,” said Jeff Giller, Head of StepStone Real Estate. “SREP V’s most recently announced transaction, the
StepStone partners with managers and sponsors to offer creative, flexible secondary and recapitalization solutions across global real estate markets.
About StepStone Group
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of June 30, 2025, StepStone was responsible for approximately
For more information, visit StepStone Group.
Contacts
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1-212-351-6106
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1-203-682-8268
FAQ
What is the final size of StepStone Real Estate Partners V (STEP) announced Oct 16, 2025?
How much additional capital did StepStone secure for SREP V by Sept 30, 2025?
How many investments has SREP V committed to and what is the total committed amount?
How does SREP V’s average investment size compare to prior StepStone real estate vintages?
What notable transaction did StepStone cite as an example of larger GP-led deals in SREP V?
