After 18 months of service as a managing director at the Institutional Limited Partners Association, Michael Elio is stepping down to become partner at secondaries firm StepStone Group, PE Manager has exclusively learned.
At StepStone, Elio will focus on global investments, according to StepStone’s website. He departs from ILPA next Friday.
While at ILPA, Elio led a number of research initiatives with industry-wide effect. His projects include the ILPA Private Markets Benchmark unveiled last May in partnership with Cambridge Associates. He also led efforts to create a standardized due diligence questionnaire for LPs to use when vetting fund managers.
Prior to joining ILPA, he was a partner and managing director at LP Capital Advisors where he led the firm’s Boston office. He also served as the lead consultant to East Coast and European institutional investors.
StepStone is a global private markets specialist overseeing some $55 billion of private capital allocations, including approximately $10 billion of assets under management. The firm helps LPs create customized portfolios that integrate fund, secondary, mezzanine and co-investments. Worldwide StepStone has roughly 110 professionals, including a total of 17 partners.