StepStone Real Estate Announces Senior Management Team Realignment

Rhea-AI Summary

StepStone Real Estate has appointed a new senior management team to enhance operational efficiency. Josh Cleveland, Kieran Farrelly, Brendan MacDonald, and John Waters will oversee specific functional areas, ensuring high standards for investors and clients. The firm’s special situations secondaries fund surpassed target commitments by 40% in September 2020, and advisor services are expanding with the addition of Margaret McKnight as Partner. StepStone Group manages $313 billion in private markets allocations, including $104 billion in real estate.

Positive

• Appointment of experienced leaders to enhance management efficiency.
• Special situations secondaries fund exceeded target commitments by 40%.

Negative

• None.

NEW YORK, Feb. 08, 2021 (GLOBE NEWSWIRE) -- StepStone Real Estate (SRE) announced today that it has realigned its senior management team by appointing the following titles and responsibilities: Josh Cleveland, Partner, was named Head of EMEA; Kieran Farrelly, Partner, was named Head of Market Research; Brendan MacDonald, Partner, was named Chief Operating Officer; and John Waters, Partner, was named Head of Investments. Jeff Giller remains Head of StepStone Real Estate.

Jeff Giller said, “Giving our high quality senior management team members direct responsibility for regional and functional areas such as operations, investments and market research will ensure that as we grow, we will continue to maintain the high standards that SRE’s investors and clients deserve.”

As previously announced, SRE’s special situations secondaries fund closed in September 2020 with commitments exceeding the fund’s target by 40%, and SRE continues to expand its advisory service practice. In November, Margaret McKnight, formerly Chief Investment Officer and Head of the Americas for Carlyle’s Metropolitan Real Estate Investment Management division, joined SRE as Partner.

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 September 30, 2020, StepStone oversaw $313 billion of private markets allocations (including $104 billion within StepStone Real Estate), and $72 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

What recent changes were made to StepStone's senior management team?

StepStone Real Estate appointed Josh Cleveland as Head of EMEA, Kieran Farrelly as Head of Market Research, Brendan MacDonald as COO, and John Waters as Head of Investments.

How much did StepStone's special situations secondaries fund exceed its target?

The fund closed in September 2020 with commitments exceeding its target by 40%.

What is the total amount managed by StepStone Group?

StepStone Group oversees $313 billion in private markets allocations, including $104 billion in real estate.

Who joined StepStone Real Estate as a Partner in November 2020?

Margaret McKnight joined as a Partner; she was previously Chief Investment Officer at Carlyle’s Metropolitan Real Estate Investment Management.