StepStone Group, a La Jolla, Calif.-based PE asset management and consulting firm, has hired James Gamett for a new secondary investment division. Prior to joining StepStone, Mr. Gamett was Vice President of Secondary Investments at Portfolio Advisors.
StepStone Group LLC today announced that James Gamett has joined the firm as Managing Director and Head of Secondary Investments, a newly-created position. Mr. Gamett, 34, is a member of the StepStone Research Team and also sits on the firm’s investment committee. StepStone Group provides customized private equity investment management and advisory services to institutional investors, building portfolios that include private equity fund investments, co-investments and secondary investments.
“We welcome Jim to our firm,” said Monte Brem, Chief Executive Officer of StepStone. “We are seeking to diversify and strengthen our clients’ investment portfolios through targeted purchases in the secondaries market. It is a particularly attractive time to purchase secondary interests due to the current market dislocation and historically attractive discounts. We are confident that Jim’s experience and track record in this area will be a valuable asset for our clients as we look to purchase stakes from LPs who choose to exit their investments for one reason or another.”
“I am thrilled to be on board at StepStone. I look forward to working with a wonderful team that has both an entrepreneurial spirit that encourages innovation and creativity and the solid direct investment experience that will ensure successful execution on secondary transactions,” said Mr. Gamett.
Prior to joining StepStone, Mr. Gamett was Vice President of Secondary Investments at Portfolio Advisors. He was primarily responsible for the identification, analysis, due diligence and selection of secondary investments, and he helped grow the secondary business from a nascent program to $800 million of invested capital. In addition, he worked with and advised Portfolio Advisors’ clients in committing billions of dollars to secondary fund managers and tailored secondary investments. Before Portfolio Advisors, Mr. Gamett was at Deloitte & Touche Corporate Finance.
Mr. Gamett received an MBA from the Anderson School at UCLA and a BS in Accounting from Brigham Young University with University Honors. He is a Certified Public Accountant and a CFA charterholder. Mr. Gamett is a member of the Chartered Financial Analyst Institute and New York Society of Security Analysts.
About StepStone Group
StepStone Group LLC is an independent, employee-owned specialist firm focused exclusively on providing private equity asset management, consulting and advisory services. The firm has 22 professionals and offices in La Jolla, California, Princeton, New Jersey and Beijing, China.
StepStone provides investment services to institutional investors focused on achieving superior risk-adjusted private equity returns. StepStone has a proprietary research focused approach to optimizing exposure to top performing investment strategies, geographies and managers. This exposure is achieved through a unique approach combining fund investments, direct co-investments and secondary investments. StepStone’s large senior team of investment professionals allows the firm to work collaboratively with its clients to produce a customized portfolio based on each client’s specific needs.
For more information about the firm, its philosophy and services please visit www.StepStoneLLC.com.