Hunter Somerville sits down with David Weisburd to discuss StepStone's unique approach to venture capital, their transition to leading deals, and their full life cycle approach to investing. They delve into accessing companies in the secondary market, identifying potential in emerging managers, and StepStone's value-add to funds and companies.
(0:00) Introduction and career insights with Hunter Somerville
(0:19) Private equity landscape and competing with multistage funds
(1:53) StepStone's investment strategy and cross-asset class learning
(4:32) GP collaboration and direct investing evolution
(7:17) Upholding integrity and understanding strip sales at StepStone
(10:35) StepStone's competitive advantages and private equity trends
(15:10) Emerging manager evaluation and the importance of fund size
(17:48) Utilizing alpha through data tracking and collaborative investment
(19:20) Sponsor: Deal
(20:02) Nurturing GP relationships and tackling the challenges of second funds
(21:29) Strategies in partnering with first-time funds and the value of LP inclusion
(22:43) The dynamics of investing in spinouts and current market challenges
(25:02) Cyclical market insights and StepStone's forward-looking approach
(25:34) Closing and newsletter announcement
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