January 28, 2009, La Jolla, CA – StepStone Group LLC has been selected by AMP Capital Investors as its exclusive private equity adviser in the development of the Future Directions Private Equity Fund. StepStone Group provides customised private equity investment management and advisory services to institutional investors globally.
Future Directions Funds (FDF) is AMP Capital’s multi-manager investment platform, providing a single access point to a combination of specialist global investment managers and a diverse mix of asset classes.
AMP Capital Director of the Future Directions Funds, Sean Henaghan, said: “StepStone is recognised globally as a leading private equity adviser. As AMP’s exclusive partner in Australia and New Zealand, StepStone’s specialized expertise gives us preferred, global access to specialist investment partners, enabling us to accelerate delivery of private equity expertise for our investors.
“This enhanced capability in accessing prime private equity assets is especially important given the current volatile economic environment. Currently there are growing opportunities to access discounted illiquid assets, which over time have the potential to provide exceptional returns for our investors.”
According to AMP Capital Investors’ Senior Portfolio Manager Alternatives, Suzanne Tavill, FDF has adopted a significant alternatives allocation strategy, including private equity, to provide portfolio diversity given their potential for low correlation with more traditional asset classes while delivering competitive returns.
Monte Brem, Chief Executive Officer of StepStone Group, said: “We are very pleased to announce this partnership with AMP Capital Investors, and welcome the opportunity to work with one of the leading Australian specialist investment managers. Our research driven investment approach fits well with AMP Capital Investors’ investment strategy, and, working collaboratively, we believe we will be able to develop a top performing private equity portfolio for their investors.”
The Future Directions Funds was established in 2001 and is managed by a team supported by almost 200 in-house investment professionals at AMP Capital Investors.
Media Inquiries: Caroline Luz
Owen Blicksilver Public Relations
(203) 656-2829
caroline@blicksilverpr.com
About StepStone Group LLC
StepStone Group LLC is an independent, employee-owned specialist firm focused exclusively on providing private equity asset management, consulting and advisory services. The firm invests globally from its offices in La Jolla, California, Princeton, New Jersey and Beijing, China.
StepStone provides investment management 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.
About AMP Capital Investors
AMP Capital Investors is a specialist investment manager with over $101* billion in funds under management. As a wholly owned subsidiary of ASX-listed AMP Limited, AMP Capital operates independently with a pure investment focus, yet benefits from the resources of its parent company. AMP Capital employs almost 200 in-house investment professionals across its international network of offices in London, Beijing, Tokyo, Mumbai, Singapore, Auckland and Sydney.
*as at 30 June 2008
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