Principal - Real Estate Advisory

StepStone Group • New York City, NY

2d • $170,000 - $180,000 • Hybrid

About The Position

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 Overview The Principal of StepStone Real Estate (SRE) will play a critical role in building and servicing discretionary and advisory client relationships in a highly collaborative, team-oriented, technology-forward environment. The role sits within our Manager Research team, which is responsible for covering primary fund investments, client service for discretionary accounts that are wholistic or primaries oriented, and the firm’s outstanding advisory practice The candidate must have training and experience in top-down construction of real estate portfolios, including consideration of client goals and constraints as well as tactical market opportunities and the ability to effectively discuss strategies. The role is principally oriented towards commingled fund investments and will involve manager coverage and oversight of investment evaluations including Fund Summaries, Investment Committee memos and other ad hoc materials as needed. The candidate will also hold a senior role on client accounts that will involve making portfolio construction and investment recommendations to clients and SRE’s internal committees.

Requirements

• BA/BS in Business, Finance, Economics or Accounting, or equivalent relevant experience
• 15+ years of experience in a manager and/or investment underwriting role in real estate
• Top-down portfolio construction experience
• Developed investment judgment with demonstrable understanding of risk/reward
• Strong client communication and relationship-building skills and experience
• Exceptional business writing
• Detail-oriented
• Financial modeling skills (pacing models, track record analysis, portfolio construction, etc)
• Commitment to learning
• Ability to thrive in a deadline-oriented environment, emphasizing timely and accurate client deliverables
• Willingness to work a flexible schedule
• Willingness to travel
• High level of confidentiality
• Commitment to learning
• Minimum Required 3 days a week in office presence

Nice To Haves

• Possess an accreditation like a CFA, MBA, CPA, or CAIA

Responsibilities

• Client coverage manager, where success includes earning the role of trusted advisor and executing well.
• New business development – The primary role is to work with the client prospect to build the relationship, develop confidence in SRE and convert opportunities.
• Team building Key role in building and maintaining a collaborative, connected and vibrant culture in the NY research team, with good connectivity across shared functions within the global Manager Research team
• Training, managing and motivating junior team members across multiple levels
• Building and maintaining positive relationships across support groups outside of the research team, including the secondaries and co-investments (‘Active’) team, SRE BD (marketing, rfp support), firm level BD, systems and reporting teams, etc
• Many of these activities will leverage SPI: StepStone Private Intelligence, which is proprietary software.
• Contribute to House Views, including reporting trends observed from client and GP interaction.
• Source co-investments, secondaries and other tactical investment opportunities

What This Job Offers

• Job Type: Full-time
• Career Level: Principal
• Number of Employees: 1,001-5,000 employees