Vice President - Real Estate Fund Investing

StepStone Group

  • London
  • Permanent
  • Full-time
  • 8 days ago
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 OverviewWe 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 value-add/opportunistic funds, however coverage will not be limited to this category and value-add/opportunistic 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
  • 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
#LI-HybridAt 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.

StepStone Group