What's New In Investments, Funds? - Conversus

Editorial Staff

29 October 2020

Conversus
, the US investment platform that says it expands access to private markets for high net worth and accredited investors, said its inaugural fund, Conversus StepStone Private Markets, has held its first closing, raising $35 million of capital.

Conversus acts as advisor, and StepStone Group acts as sub-advisor, to CPRIM.

CPRIM offers accredited investors global exposure to areas such as private equity, private debt and real assets, including infrastructure and real estate - in a single investment.

The portfolio of CPRIM aims to spread holdings across managers and sectors, strategies, geographies and vintage years. StepStone will invest CPRIM’s capital alongside its institutional clients and has identified an initial group of investments expected to establish CPRIM’s diversified portfolio.

The structure is aimed at individual investors and small institutions. CPRIM will raise capital and hold closings every monthl while providing liquidity through quarterly tender offers. There are no ongoing capital calls. Investors will receive regular distributions, and tax reporting will be provided via a 1099 rather than a K-1. It is available to US accredited investors with a minimum investment of $50,000 through a range of share classes created for various wealth management platforms, as well as to non-US qualified investors at the same minimum investment level.