Associate - Real Estate Fund Investing at StepStone Group
StepStone Group · London, United Kingdom · Hybrid
- Professional
- Office in London
We are global private markets specialists delivering tailored investment solutions, advisory services, and impactful, data driven insights to the world’s investors. Leveraging the power of our platform and our peerless intelligence across sectors, strategies, and geographies, we help identify the advantages and the answers our clients need to succeed.
Position Overview:
The Associate of StepStone Real Estate (SRE) will work in a team-oriented culture and play a critical role in the servicing of client relationships through the underwriting of new investment opportunities and general coverage the real estate private equity market. This role is part of the Manager Research team, which is responsible for covering primary fund investments, client service for discretionary accounts that are wholistic or primaries oriented, and the firm’s outstanding advisory practice.
The candidate will have a career progression oriented toward becoming a trusted advisor and client coverage manager, with respect to investment matters ranging from portfolio design to fund selection and other related matters. This position builds the foundation, with a focus on detailed fund underwriting to build investment evaluation and selection skills critical to building outperforming portfolios.
Essential Job Functions:
- Write and compile client-ready fund investment evaluations, including Fund Summaries and Investment Committee memos in a team setting, leveraging an array of resources and standard processes.
- Perform critical analysis, construct an argument around an opinion and efficiently communicate that argument both verbally and in written materials; be able to defend a position in a team environment, including Investment Committee meetings
- Assess marketing and supporting materials of prospective fund managers to identify key value drivers and important areas for further investigation, also using and relating to SRE House Views on market conditions
- Conduct interviews with senior executives to gather insights and information regarding the style and effectiveness of target fund managers
- Interpret financial analyses prepared by target fund managers, including investment track records; prepare valuation analyses on private real estate using a variety of metrics
- Frequent client contact including periodic portfolio reviews and strategic planning
- Preparation and coordination of market and portfolio updates for clients and other ad hoc materials as necessary
- Source co-investments, secondaries and other tactical investment opportunities
- Many of these activities will leverage SPI: StepStone Private Intelligence, which is proprietary software. The candidate is expected to become proficient with SPI and other firm technology as well as any other technology needed to perform the job, and the role includes ensuring fund materials, notes and other relevant materials are regularly input to SPI.
Education and/or Work Experience Requirements:
- BA/BS in Business, Finance, Economics or Accounting, or equivalent relevant experience;
- 3 to 5 years of experience in a manager and/or investment underwriting role in real estate
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At StepStone, we believe that our people are our most important asset and crucial to our success. We are an Equal Opportunity Employer that strives to create an environment that empowers our employees and allows them to be heard, regardless of title or tenure. Our organizational community features multiple Employment Resource Groups as well as mentorship programs to enhance the employee experience for all.
As an Equal Opportunity Employer, StepStone does not discriminate on the basis of race, creed, color, religion, sex, national origin, citizenship status, age, disability, marital status, sexual orientation, gender identity, gender expression, genetic information or any other characteristic protected by law.
