StepStone Group is a rapidly growing Global Private Markets firm who provides customized investment and advisory solutions to some of the most sophisticated investors in the world. With $570 billion of total capital allocations, including $134 billion in AUM, we are highly diversified in the private markets across the globe and provide creative solutions to solve for the objectives of any investment program. With a culture built on entrepreneurialism, partnership and being a team within teams, our firm offers joiners the opportunity to think out loud, .
Real Estate Private Equity Analyst Role Overview
StepStone is currently seeking candidates with excellent quantitative, qualitative and interpersonal skills for an Analyst position on StepStone’s Real Estate Research Team. The Analyst’s primary role is to engage in sector-focused research on various areas of the real estate private equity industry such as opportunistic, value-add, core and credit. The Analyst will work in a team environment with other Research team members to target and perform due diligence on selected real estate private equity fund managers; analyze PPMs, financial statements and investment returns; and conduct reference calls and personal interviews. In addition, the Analyst will work with the co-investment and secondary teams to source, diligence and execute transactions. The Analyst will have the opportunity to present recommendations, with the investment team, to the Real Estate Investment Committee.
StepStone prides itself on the Firm’s collegial atmosphere, encouraging team-building initiatives and a collaborative approach to accomplishing projects. The Analyst will have exposure to all levels of the Firm, from Partners to fellow Analysts, on a daily basis. S/he will often have opportunities to interact with many of the top fund managers in the real estate private equity industry.
The ideal candidate will possess a bachelor’s degree and backgrounds in real estate, private equity, investment banking, consulting or other relevant industries. S/he will adhere to the highest ethical standards, as well as demonstrate maturity, reliability and attentiveness to detail.
Essential Job Functions:
- Perform market research using publicly available information and proprietary databases to identify, quantify and analyze macroeconomic trends across a variety of industry sectors
- Interpret financial analyses prepared by target fund managers, including investment track records, financial statement analysis and fund models
- Support Senior Research staff on sourcing and managing the inflow of investment opportunities
- Assess marketing and supporting materials of prospective fund managers to identify key value drivers and important areas for further investigation
- Conduct phone interviews with senior executives to gather insights and information regarding the style and effectiveness of target fund managers
- Form an independent opinion about the attractiveness of a sector or investment opportunity
- Construct an argument around an opinion and efficiently communicate that argument both verbally and in written materials; be able to defend position in a team environment, including Investment Committee meetings
- Use creativity to source and analyze data and to test hypotheses regarding attractiveness of specific sectors and investment opportunities
- Prepare for and participate in meetings with managers and conduct on-going due diligence
- Perform financial modeling and sensitivity analysis related to co-investment and secondary opportunities
- Draft investment memorandums and presentations related to fund, co-investment and secondary diligences
- BA/BS in Business, Finance, Economics, Accounting, Law, Real Estate or equivalent relevant experience
- Demonstrated track record of academic and professional success
- Ability to represent the Firm credibly in written and interpersonal communications
- Demonstrable analytical capabilities, including strong quantitative/modeling skills
- High proficiency in Word, PowerPoint and Excel
- Developing investment judgment and general understanding of risk/reward trade-offs
- Flexibility to work within StepStone’s dynamic and entrepreneurial organization
- Availability to travel, primarily domestically
Other Desired Skills/Attributes
- Prior internships or work experience in private equity real estate, investment banking, consulting, or other relevant experience
- Enrollment in CFA program a plus
- Promote and demonstrate a positive, team-oriented attitude
- Applied experience in valuation and investment analysis