Stepstone Group Real Estate Acquisitions
Anyone have insight into what this might be? Talking to them this week on this role, but I know that Stepstone is a FoF primarily. How would this role deal with acquisitions if they primarily invest in other funds?
Also, does anyone have any insight into their culture and what it's like working there?
They don’t primarily invest in other funds. That’s what their parent company does.
Part of Stepstone’s business is coinvestments. EG Carlyle has a really big deal where they don’t want to put in $200mm of equity. Stepstone will come in with one of their separate accounts and put in $100mm alongside Carlyle.
I believe they can also invest separate account money in regular deals (not coinvestments).
3rd part of their business is their discretionary fund. They do recaps / special situations out of that fund. Eg recapping a large portfolio, buying the GP interest in a REIT / Fund, making an entity level investment into a REIT, I believe they can buy distressed debt too?, etc It’s basically the same as any REPE role, the main difference being the discretionary fund doesnt do outright acquisitions, they’ll always be doing a JV recap.
Its a legit firm with a lot of AUM. Just a confusing investment mandate given their parent company is FoF. I interviewed with them a while back and everyone seemed nice
Just checking, is this for the London role or the US role?
Just to add questions to this thread. I am interviewing with them next week. Any idea on what type of case study & modelling exercise they give. It's for Real Estate Investments role.
Thanks.
do you know what the test entailed here?
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