Steve Lessar

Steve Lessar

Managing Director, Co-Head of Secondaries and Liquidity Solutions

Steve Lessar, Managing Director, is co-head of Secondaries and Liquidity Solutions in the Private Equity Partners (PEP) business of BlackRock Alternative Investors (BAI).


Prior to joining BlackRock in 2018, Steve was a Managing Director and global co-head of the private equity secondaries business (the Vintage Funds) in the Alternative Investments & Manager Selection (AIMS) Group at Goldman Sachs & Co. in New York. In this capacity he was responsible for all aspects of the business including capital raising, investment strategy, transaction execution and business development. During his tenure as co-head of the Vintage Funds, the secondaries team invested over $10 billion of capital globally across a wide array of secondary transaction types including traditional limited partnership portfolios, team spin-outs, single asset secondaries, fund restructurings and hedge fund side pockets. The underlying assets in these transactions spanned private equity buyouts, growth equity, venture capital, real assets, distressed and private credit. He served on the AIMS Private Equity Investment Committee which approves all secondaries, primaries and co-investments globally, and was also a member of the AIMS Real Estate Investment Committee. In total, Steve has over 14 years of investment experience across secondaries, primaries, co-investments and direct private equity.


Prior to re-joining the AIMS private equity business in 2009, Steve was a Vice President at Lehman Brothers Merchant Banking (now Trilantic Capital Partners) where he sourced and executed LBO and growth equity investments in the industrials and media and entertainment sectors. Prior to Lehman Brothers, he served as an Associate in both investment banking and AIMS at Goldman Sachs. Prior to his financial services career, Steve served as an officer in the United States Army.


Steve earned a BS in Engineering Management from The United States Military Academy at West Point and an MBA in Finance from The Wharton School of the University of Pennsylvania.