StepStone Group, Inc. (NASDAQ: STEP), a global private markets investment firm, has closed its StepStone Tactical Growth Fund III which raised $690 million in commitments. The firm focuses on providing customized investment solutions and advisory data services.

Fund III includes limited partners from diverse backgrounds including public and corporate pension plans, insurance companies, endowments, foundations, family offices, high net worth individuals and financial services and advisory firms.

The funds strategy is designed to provide exposure to leading VC and growth equity-backed companies all while managing volatility, reducing fees and accelerating time to liquidity through its portfolio construction.

“The rapid pace of innovation in the technology sector continues to generate compelling opportunities for venture capital and growth equity investors,” said John Coelho, partner at StepStone. “We are excited to announce our third tactical growth fund, and fortunate to have the support of some of the most sophisticated limited partners in the world.”