StepStone Nabs Parish Capital's Fund Management Unit

Law360, New York (November 30, 2011, 1:20 PM EST) -- California private equity firm StepStone Group LLC is set to buy the fund management business of North Carolina private equity investment manager Parish Capital Advisors LLP as it looks to boost its European presence, both parties announced Wednesday.

The transaction is expected to close in January. Financial terms of the deal were not disclosed.

Chapel Hill, N.C.-based Parish Capital operates its European advisory arm, Parish Capital Advisors Europe LLP, through an office in London. With more than $2 billion in assets under management, it invests in...
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