Scott Hart was named sole CEO of private markets firm StepStone Group, effective Jan. 1.
He is currently co-CEO alongside Monte Brem, the firm's co-founder, who will become executive chairman of the company and remain chairman of the board, a news release said Tuesday.
The move completes a leadership transition that began when Mr. Hart took on the co-CEO mantle in 2019, the news release said. Mr. Brem had previously been StepStone's sole CEO.
"Scott has been a key part of this journey," Mr. Brem said in the news release. "Over the years, he has helped build our private equity co-investment business, set up our European operations, cultivated long-lasting client relationships, and demonstrated true entrepreneurial leadership as co-CEO. I have full confidence in Scott to continue to grow and lead our exceptional franchise."
As of Sept. 30, StepStone had $121 billion in assets under management.
A spokesman could not be immediately reached for further information.