The milestone coincided with the first close of the firm's inaugural GP-led fund, securing $200 million in capital commitments.
The firm also expects to hold a first close for its tenth real estate secondaries strategy by year-end at more than 50% of its initial $2.5 billion target.
The strategy, anchored by a Korean institutional investor, has adopted an evergreen semi-liquid structure aimed at capturing emerging credit secondary opportunities throughout the cycle.
StepStone Secondary Opportunities Fund VI is reportedly targeting $6 billion in capital commitments.
TPG GP Solutions II, which held a first close last year, had raised over $1.7 billion in capital commitments as of June.
After closing on $1.5 billion in commitments for Hamilton Lane Infrastructure Opportunities Fund II earlier this year, the firm is expected to launch a successor in late 2026 or early 2027.
The strategy will focus on single-asset continuation vehicles alongside existing sponsor relationships.
The vehicle is targeting a first close before year-end and will focus on hard-to-access sponsor-led opportunities in small- and mid-market buyouts.
The firm's lower fees in its flagship secondary funds will be offset by growth in its private wealth assets, according to CFO David Park.
The alternatives manager also gave updates on the fundraising status of several other secondaries strategies spanning private equity, GP-leds, venture capital, and infrastructure.
