Latham & Watkins Advises StepStone Real Estate in US$1.4 Billion Fund Formation

StepStone Real Estate has announced the final closing of StepStone Real Estate Partners IV (SREP IV), its fourth in a series of funds focused on special situations secondaries and recapitalizations of real estate vehicles. SREP IV’s $1.4 billion final closing exceeded the $1 billion target for the fund and notably, approximately $870 million of the commitments closed after the onset of the COVID-19 pandemic.

Latham & Watkins LLP advised StepStone Real Estate on the fund formation with an international deal team across Latham’s US and European offices led by partners Nadia Sager in San Diego, Amy Rigdon in Washington, D.C., and Michael Haas in New York, with associates Clare Scott and Thea Crawshaw in London.