StepStone 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 $640 billion of total capital allocations, including $143 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, collaboratively.
Real Estate Private Equity Associate Role Overview
StepStone is currently seeking candidates with excellent quantitative, qualitative, and interpersonal skills for an Associate position on StepStone’s Active Real Estate Team. The Associate’s primary role is to assist in the evaluation, due diligence, and execution of real estate investments. The Associate will work in a team environment with other team members to source and underwrite new investment opportunities, negotiate acquisition terms, manage existing assets, and conduct asset dispositions. The Associate 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 Associate will have exposure to all levels of the Firm, from Partners to fellow Associates, on a daily basis.
The ideal candidate will possess a bachelor’s degree and a background in real estate private equity/credit, investment banking, or other real estate- or finance-related industries. The Associate will adhere to the highest ethical standards, as well as demonstrate maturity, reliability, and attention to detail.
Essential Job Functions:
- Participate in the underwriting and due diligence process for potential acquisitions, including financial analysis, market research, site visits, and document review
- Perform financial modeling and sensitivity analysis related to investment opportunities
- Prepare for and participate in meetings with managers and conduct on-going due diligence
- 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
- Draft investment memorandums and presentations related to acquisition opportunities
- Assist with asset management duties, including financial analysis and investor reporting for existing investments
- Support the fundraising process, including creating fundraising presentation materials and coordinating historical fund- and asset-level performance analysis
Qualifications
- 3-5 years of experience in real estate private equity/credit, investment banking, or related real estate finance field
- BA/BS in Business, Finance, Economics, Accounting, Real Estate, or related field
- Demonstrated track record of academic and professional success
- Takes pride of ownership in work, and work ethic
- 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
- Based in Chicago, with availability to travel, primarily domestically
Other Desired Skills/Attributes
- ARGUS experience optional but preferred
- Promote and demonstrate a positive, team-oriented attitude
Salary Range - $100,000 -130,000
The salary range is an estimate of pay for this position. Actual pay may vary depending on job-related factors that can include location, education, skill, and experience. The salary range does not include any benefits or other forms of possible compensation that may be available to employees.
Application deadline is January 31, 2024
About us
Working out of 26 offices in 15 countries, StepStone has a truly global viewpoint. As people are our biggest asset, we offer resources to help our employees reach their full potential. Our principles are based on integrity, transparency, respect and creativity, which together define how we do business.
Join us
When you choose to work at StepStone, you’ll find a group of professionals who are passionate about anticipating changes, solving problems and working together to make it all happen. Our integrated global team shares insights into how managers think and operate, as well as how they might perform.
StepStone offers a competitive compensation package including salary and incentive compensation for all full time hires, as well as a comprehensive benefits package.
Benefits
We offer a range of benefits which include comprehensive healthcare, strong retirement plan, a mental health well-being program, paid time off, student loan repayment program for our US office locations, and several wellness initiatives.
Disclaimer / Policy Statements
At StepStone, diversity, equity and inclusion are an integral part of our culture. We are an Equal Opportunity Employer that strives to create an inclusive environment that empowers our employees and allows them to be heard, regardless of title or tenure. Our organizational community features multiple Employment Resource Groups representing our dedication to Diversity, Equity & Inclusion.
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.
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