DFX Intelligence
Stepstone Tactical Growth Fund II, L.P.
As of · the latest observation of this vehicle; each figure below carries its own filing date
HarvestFundraising status unknownADV: Private Equity Fund
As of · the latest observation of this vehicle; each figure below carries its own filing date
8 additional principals, 4 additional placement agents
Every relationship, signal and contact on this record, with the source on each.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
What matters now
- 1 LP reportpublic disclosures
1 public LP report name this vehicle; the latest, San Diego City Employees' Retirement System as of 31 Mar 2026, shows $40M committed and net IRR 30.4%, 3.46x (the LP's own figures).
A named LP and its own performance figures are the strongest outside read on a fund.
FactPublic pension and endowment private-markets disclosures (CalPERS, CalSTRS, WSIB, NYSCRF, Texas TRS, UTIMCO ...)For LPs, fund-of-fundsLimited partners →
Drawing the relationship network…
Amounts, each with its basis
- Vintage
- 2016basis: form d first sale
- Target
- unknownnot announced
- First close
- unknownnever inferred from a Form D
- Final close
- unknownonly from an announcement or an LP disclosure
- Announced size
- unknown
- Form D offering
- indefinitewhat may be sold, not what was raised; joined by exact issuer name, corroborated by the issuer filing from the adviser's state, not sworn by the adviser (confidence 0.70); file 021-278243
- Form D sold
- $65.6Mas of the filing of Jan 12, 2018, 69 investors
- First sale
- Dec 28, 2016
- Reported GAV
- $334Mon the Form ADV filed Jul 30, 2024; the fund's assets, never its size or dry powder
- Owners (ADV)
- 155
- Reported on ADV
- Mar 30, 2017 to Jul 30, 2024
Fundraising evidenceWhat counts as raisingA Form D offering is permission to sell, not a fund in market; an amount sold is never a close; an evergreen offering amended every year is not a raise.
Unknown
latest Form D 2018-01-12, older than 15 months (fr-1)
evidence dated Jan 12, 2018.
LifecycleHarvest
vintage over 7 years, still reported
age years: 10first sale: Dec 28, 2016vintage year: 2016adv gav as of: Jul 30, 2024vintage basis: Form d first saleform d sold: $65.6Mform d offering: n/aform d latest filed at: Jan 12, 2018
The fund's own reporting through time
22 Form ADV filings
| Filed | Type | Gross asset value | Owners | Min. investment | Adviser-owned | Audit | |
|---|---|---|---|---|---|---|---|
| Mar 30, 2017 | Private Equity Fund | $10.3M | 29 | $100,000 | 67% | yes | |
| Mar 31, 2017 | Private Equity Fund | $10.3M | 29 | $100,000 | 67% | yes | |
| Aug 8, 2017 | Private Equity Fund | $10.3M | 29 | $100,000 | 67% | yes | |
| Mar 29, 2018 | Private Equity Fund | $63.3M | 58 | $100,000 | 35% | yes | |
| Apr 17, 2018 | Private Equity Fund | $63.3M | 58 | $100,000 | 35% | yes | |
| Jun 25, 2019 | Private Equity Fund | $189M | 155 | $100,000 | 33% | yes | |
| Oct 14, 2019 | Private Equity Fund | $189M | 155 | $100,000 | 33% | yes | |
| Jun 25, 2020 | Private Equity Fund | $208M | 155 | $100,000 | 33% | yes | |
| Oct 12, 2020 | Private Equity Fund | $208M | 155 | $100,000 | 33% | yes | |
| Jun 30, 2021 | Private Equity Fund | $391M | 155 | $100,000 | 33% | yes | |
| Jun 30, 2021 | Private Equity Fund | $391M | 155 | $100,000 | 33% | yes | |
| Oct 20, 2021 | Private Equity Fund | $391M | 155 | $100,000 | 33% | yes | |
| Oct 20, 2021 | Private Equity Fund | $391M | 155 | $100,000 | 33% | yes | |
| Jun 28, 2022 | Private Equity Fund | $489M | 155 | $100,000 | 33% | yes | |
| May 4, 2023 | Private Equity Fund | $489M | 155 | $100,000 | 33% | yes | |
| May 4, 2023 | Private Equity Fund | $489M | 155 | $100,000 | 33% | yes | |
| Jun 29, 2023 | Private Equity Fund | $354M | 155 | $100,000 | 33% | yes | |
| Sep 11, 2023 | Private Equity Fund | $354M | 155 | $100,000 | 33% | yes | |
| Jan 18, 2024 | Private Equity Fund | $354M | 155 | $100,000 | 33% | yes | |
| Jan 25, 2024 | Private Equity Fund | $354M | 155 | $100,000 | 33% | yes | |
| Jun 28, 2024 | Private Equity Fund | $334M | 155 | $100,000 | 33% | yes | |
| Jul 30, 2024 | Private Equity Fund | $334M | 155 | $100,000 | 33% | yes |
Principals and agents
11 principals on Form D, 0 placement agents
- Darren I. Friedman Executive Officer
- Johnny I. Randel Executive Officer
- Thomas a. Bradley Executive Officer
Service providers
7 named on Form ADV Schedule D and Form D
- AuditorEY · NEW YORK, New York, United StatesForm ADV filed Jul 30, 2026 reports.adviserinfo.sec.gov
- AdministratorApex Group · NEW YORK, New York, United StatesForm ADV filed Jul 30, 2026 reports.adviserinfo.sec.gov
- CustodianSilicon Valley Bank · SANTA CLARA, California, United StatesForm ADV filed Jul 30, 2026 reports.adviserinfo.sec.gov
Limited partners and their reported performanceWhose numbers these areEach row is the LP’s own number: its cash flows and its valuation policy as of its reporting date, not the fund’s. Net IRR is printed only when the LP prints one. The vintage is the LP’s definition (CalPERS: year of its first cash flow; WSIB: year of its initial investment).
1 public LP report
| LP | Vintage (LP’s) | Committed | Paid in | Distributed | Remaining value | Net IRR | Multiple | As of |
|---|---|---|---|---|---|---|---|---|
| San Diego City Employees' Retirement System content.sdcers.gov | 2017 | $40.0M | $49.3M | $79.3M | $91.3M | 30.4% | 3.5x | Mar 31, 2026 |
Known LPs and allocatorsWhat these amounts and dates areA commitment date prints only when the source printed one; otherwise the row carries the date of the report that listed it. A foundation’s 990-PF line is a holding at fair value on its return, never a commitment.
1 relationship, public pensions and the allocator graph, each counted once
| Allocator | Type | Amount | Date | Source |
|---|---|---|---|---|
| San Diego City Employees' Retirement System | MUNICIPAL RETIREMENT SYSTEM | $40.0M committed | reported as of Mar 31, 2026 | Fact Pension disclosure |
Investments attributed to this vehicle
0
No investment attributed to this vehicle. The firm’s investments sit on the firm; a fund gets one only when a source names the vehicle.
Timeline
5 events
- Mar 31, 2026SDCERS reports StepStone Tactical Growth Fund II, L.P.: $40,000,000 committed, vintage 2017, net IRR 30.4%, 3.46xLP commitment disclosed Fact Pension disclosure
- Mar 29, 2018Administrator changed: Sanne replaced FLSV FUND ADMINISTRATOR SERVICES, LLC, first reported on the Form ADV filed March 29, 2018 (previous filing August 8, 2017)Administrator changed Fact Form ADV
- Jan 12, 2018StepStone Tactical Growth Fund II, L.P. filed Form D/A: $65,600,000 sold (indefinite offering), Other Investment FundForm D filed Fact Form D
- Mar 30, 2017Stepstone Tactical Growth Fund II, L.P. first reported on Form ADV by Stepstone Group LP (Private Equity Fund), GAV $10,253,035Fund first reported on Form ADV Fact Form ADV
- Jan 12, 2017StepStone Tactical Growth Fund II, L.P. filed Form D: $9,703,500 sold (indefinite offering), Other Investment FundForm D filed Fact Form D
Evidence
30 observations
Every observation on this vehicle
- Entity type: Limited Partnership Jan 12, 2018 Fact Form D
- Entity type: Limited Partnership Jan 12, 2017 Fact Form D
- Form D fund type: Other Investment Fund Jan 12, 2018 Fact Form D
- Form D fund type: Other Investment Fund Jan 12, 2017 Fact Form D
- Form D industry group: Pooled Investment Fund Jan 12, 2018 Fact Form D
- Form D industry group: Pooled Investment Fund Jan 12, 2017 Fact Form D
- Amendment: true Jan 12, 2018 Fact Form D
- Amendment: false Jan 12, 2017 Fact Form D
- Incorporated: withinFiveYears Jan 12, 2018 Fact Form D
- Incorporated: withinFiveYears Jan 12, 2017 Fact Form D
- Jurisdiction: Delaware Jan 12, 2018 Fact Form D
- Jurisdiction: Delaware Jan 12, 2017 Fact Form D
- Amount sold (Form D): $65.6M Jan 12, 2018 Fact Form D
- Amount sold (Form D): $9.7M Jan 12, 2017 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jan 12, 2018 Fact Form D
- Exemptions: 06b, 3C, 3C.7 Jan 12, 2017 Fact Form D
- First sale: 2016-12-28 Jan 12, 2018 Fact Form D
- First sale: 2016-12-28 Jan 12, 2017 Fact Form D
- Indefinite offering: true Jan 12, 2018 Fact Form D
- Indefinite offering: true Jan 12, 2017 Fact Form D
- Investors (Form D): 69 Jan 12, 2018 Fact Form D
- Investors (Form D): 25 Jan 12, 2017 Fact Form D
- Minimum investment (Form D): 0 Jan 12, 2018 Fact Form D
- Minimum investment (Form D): 0 Jan 12, 2017 Fact Form D
- Securities offered: pooled Jan 12, 2018 Fact Form D
- Securities offered: pooled Jan 12, 2017 Fact Form D
- Office address: Jan 12, 2018 Fact Form D
- Office address: Jan 12, 2017 Fact Form D
- Year of incorporation: 2016 Jan 12, 2018 Fact Form D
- Year of incorporation: 2016 Jan 12, 2017 Fact Form D
Relationships across DFX
on 3 other DFX graphs · 4 capital paths
Across the graphs
Stepstone Tactical Growth Fund II, L.P. is the same institution as 3 records in Allocators, Private Equity and RIA and Wealth.
Allocators1Private Equity1RIA and Wealth1
DFX found 3 relationships across 3 datasets
Which record it is in each graph, what it is called there, and how the two were matched.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
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Capital chain
Stepstone Tactical Growth Fund II, L.P. sits on 4 traced paths of capital across the graphs.
Allocator to VC fund to manager to company
DFX traced 4 paths of capital through this record
Every record on each path, what it committed or lent, and as of when.
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.
Checking your plan…
Record history
1 identity change, 4 dated events on the change ledger, latest event first
- Event retracted2026-10-01
- LP commitment disclosed2026-03-31source on record
- Form D filed2018-01-12source on record
+2 more changes on this record's ledger
Includes 3 days of DFX Intelligence. Then $199/month unless canceled.
The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.