Benefits

Job Description

Position Overview

We are seeking a results-driven and team-oriented Vice President to join our Real Estate Advisory team. This Vice President will assist in delivering comprehensive real estate advisory services to our institutional investor clients and supporting discretionary mandates. They will have an important role in analysis of real estate managers and funds, from initial meeting through due diligence and preparation and delivery of investment committee materials. The ideal candidate will bring an understanding of real estate investments, funds, and manager due diligence, coupled with a client-first mindset. They 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, ad hoc matters.

Key Responsibilities:

Investment Sourcing & Evaluation

Source, evaluate, and track real estate fund offerings. This involves networking effectively in the GP community, and conducting regular meetings to learn and vet the offerings. It includes communicating with managers about fund availability and demand as well as sourcing potential secondaries and co-investments.
Work as a central part of the team performing detailed due diligence on investment managers and fund offerings. This includes review of investment strategy, track record, team, organizational structure, and alignment of interests. Analyze and write fund summaries and comprehensive investment committee memos. This includes scrutiny of PPMs, DDQs, track records and other related materials in detail and interviewing references.
Along with the relevant coverage team, present and support fund recommendations to the Real Estate Funds Investment Committee, Portfolio Risk Management Committee, and as needed, to clients.
Effectively manage, train and develop more junior team members to provide support for these activities.
Many of these activities will leverage SPI: StepStone Private Intelligence, which is proprietary software. The VP is expected to become proficient with SPI and other firm technology as well as any other technology needed to perform the job.
The Vice President will join the sector team covering US core/core+ funds, however coverage will not be limited to this category and core/core+ experience is not required.

Client Relationship Management

Take an active role in client deliverables and conversations. This may include preparing and discussing pipeline reviews and investment recommendations, annual plans, portfolio reviews, and responding to ad hoc client requests. The VP may be asked to contribute to similar functions related to new business development as needed.
Respond promptly to client inquiries, ensuring a high standard of service, responsiveness and communication.
Monitor economic and real estate market environment and trends to understand and discuss context for investment decisions. This may involve discussing SRE House Views with clients.

Education, Work Experience and other requirements:

BA/BS in Real Estate, Private Equity, Finance, Economics, Accounting, or equivalent relevant experience
6+ years of real estate private equity consulting, portfolio management (preferred) or capital markets roles
Experience in diligencing and underwriting commingled fund structures or SMAs
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
Leadership potential
High proficiency in Word, Power Point and Excel. Experience with PowerBI is desirable.
Developing investment judgment and general understanding of risk/reward trade-offs
Flexibility—StepStone is a dynamic and entrepreneurial organization; all professionals are expected to perform multiple functions as the firm continues to grow and develop
Ability and willingness to use, learn and adopt new technologies
Availability to travel, primarily within the eastern US
Promote and demonstrate a positive, respectful team-oriented attitude

Other Attributes:

Applied experience in valuation and investment analysis (particularly capital structures and cash flow waterfalls)
Experience in managing and training more junior team members
High level of confidentiality
Commitment to learning
CFA, CPA, or CAIA a plus

Advisory Services/Consulting

StepStone Group Real Estate LP

• 100-1500 employees

StepStone Group (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to our clients. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds, and insurance companies, as well as prominent endowments, foundations, family offices, and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private market portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt, and real estate asset classes.

Real Estate Overview: StepStone Real Estate provides investors and clients with customized exposure to private real estate through its extensive global market relationships, deep research capabilities, granular due diligence, and unusual structuring capabilities. We build this exposure through our commingled funds, customized funds, separately managed accounts, and investment advisory services. Our investment strategy is to provide liquidity solutions to private real estate funds, portfolios, and other types of real estate ownership vehicles and investors through recapitalizations and secondary investments. We execute this strategy by recapitalizing existing real estate funds and similar vehicles; acquiring equity from existing investors on a secondary basis; investing in newly formed funds; and co-investing in new acquisitions.

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