StepStone Real Estate Adds Frank Forster as Managing Director in Europe

Rhea-AI Summary

StepStone Real Estate has appointed Frank Forster as a Managing Director to enhance its secondary, recapitalization, and co-investment activities in Europe. Forster, based in London, brings over 20 years of experience from firms like EQT Real Estate and Blackstone. His appointment is part of SRE's strategy to deploy its substantial capital with leading European real estate managers. The firm recently expanded its investment team to 45 professionals and plans to hire more junior and mid-level staff.

Positive

• Appointment of Frank Forster as Managing Director to enhance investment strategies in Europe.
• Expansion of investment team to 45 professionals, indicating growth and increased operational capacity.
• Focus on deploying significant capital alongside top European real estate managers.

Negative

• None.

NEW YORK, March 30, 2021 (GLOBE NEWSWIRE) -- StepStone Real Estate (“SRE”) has hired Frank Forster as a Managing Director to help lead the firm’s secondaries, recapitalization and co-investment activities in Europe. Mr. Forster will be based in London and report to SRE’s Head of EMEA, Josh Cleveland, and its Head of Investments, John Waters. Before joining SRE, Frank worked at notable real estate investment managers such as EQT Real Estate, Mount Kellett and Blackstone.

“Frank’s 20-plus years’ experience investing throughout Europe, in often complex structured transactions, have positioned him to help to lead our European investment activities,” said Josh Cleveland. “The addition of a senior professional like Frank is key to our focus on prudently investing the substantial amount of dry powder we have to deploy in partnership with Europe’s leading real estate managers,” he added.

SRE has recently added nine professionals, bringing the size of its investment team to 45. The group plans to hire several junior and mid-level professionals this year to responsibly execute its global investment activities.

Mr. Forster commented, “I am excited to join SRE’s talented and collegial team and look forward to applying my experience to help SRE continue to deliver the same level of service and performance our clients and general partners have come to expect.”

About StepStone and StepStone Real Estate

StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to its clients. As of December 31, 2020, StepStone oversaw $333 billion of private markets allocations (including $105 billion within StepStone Real Estate), including $80 billion of assets under management. 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 markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.

Contacts:
Shareholder Relations
shareholders@stepstonegroup.com
1-212-351-6106

Media
Brian Ruby / Chris Gillick, ICR
StepStonePR@icrinc.com
1-203-682-8268

FAQ

Who is Frank Forster and what is his role at StepStone Real Estate?

Frank Forster has been appointed as a Managing Director at StepStone Real Estate, where he will lead the firm's secondaries, recapitalization, and co-investment activities in Europe.

What recent changes have occurred at StepStone Real Estate regarding its team size?

StepStone Real Estate has grown its investment team to 45 professionals, with plans to hire additional junior and mid-level professionals.

What is the significance of Frank Forster's appointment for StepStone Real Estate?

Frank Forster's extensive experience in structured transactions is expected to enhance StepStone's investment activities in Europe, particularly in deploying their considerable capital.

What is the focus of StepStone Real Estate's investment strategy?

StepStone Real Estate aims to invest prudently in partnership with leading European real estate managers, leveraging their substantial capital.