The posting
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
This role will engage broadly across private equity, with a focus on co-investments and primary fund investments. The Associate/Senior Associate will take meaningful ownership across the investment process, including sourcing, screening, due diligence, underwriting, Investment Committee preparation, execution and ongoing portfolio monitoring. The individual will be expected to drive workstreams forward, develop independent investment perspectives, identify key areas of risk and opportunity, and translate analysis into clear recommendations for senior team members and Investment Committee discussions. The role is well suited for an investment professional with a go-getter mindset who can operate with increasing autonomy, manage multiple priorities and take accountability for high-quality execution in an entrepreneurial, collaborative and low-ego culture characterized by high volume and a fluid structure. The successful candidate should be able to evaluate individual opportunities while also thinking like a portfolio manager, considering how co-investments and fund commitments work together within a broader portfolio and how exposures across managers, industries, geographies and stages affect portfolio construction.
Essential Job Functions:
- Take ownership of key workstreams across the sourcing, screening, due diligence, underwriting and execution of private equity co-investments and primary fund investment opportunities, leveraging the firm’s global network
- Evaluate and analyze buyout co-investment transactions across industries and geographies, as well as primary fund opportunities across managers, strategies, sectors and regions
- Assess private equity managers and funds, including team capabilities, investment strategy, track record, portfolio construction, market positioning, alignment of interests and key terms
- Lead and coordinate elements of the due diligence process, working with fund managers, company management teams, investment bankers, advisors and internal teams to identify key investment considerations, identify new opportunities and move co-investments and primary fund commitments toward a decision
- Develop financial and investment analyses, including valuation, leveraged buyout and cash flow analysis, as appropriate, and evaluate underlying assumptions, sensitivities and risk/reward considerations
- Take ownership of the preparation and presentation of due diligence materials and Investment Committee memoranda for both co-investments and primary fund investments
- Develop an independent investment perspective, synthesize complex quantitative and qualitative information into clear conclusions and recommendations, and confidently communicate and defend that position in team discussions and Investment Committee meetings
- Coordinate transaction execution, closing and structuring for co-investments and fund commitments, proactively identifying and helping resolve issues throughout the execution process; monitor existing investments and fund relationships, evaluate performance and material developments, and maintain relationships with private equity sponsors, intermediaries, advisors and other investors
- Represent the firm professionally in external interactions and contribute to broader portfolio and market discussions by identifying themes, trends and potential investment opportunities across managers, strategies and sectors
- Support the development of junior team members by reviewing work, sharing investment perspectives and providing guidance as appropriate to level
Education and/or Work Experience Requirements:
- 2-4+ years of private equity experience, preferably including co-investments and/or primary fund investing, or other relevant investment experience
- Demonstrated experience evaluating private equity investments, with transaction execution experience and exposure to manager, fund and track-record analysis preferred
- Strong quantitative and financial modeling skills, with the ability to assess valuation, investment returns and sensitivities
- Strong sense of risk/reward trade-offs and an ability to display sound investment judgment
- Self-starter with the ability to independently structure analysis, identify the most important diligence questions, “work a deal” and think “outside the box” when evaluating and progressing opportunities
- Strong interpersonal skills, with the ability to synthesize detailed analysis into concise, decision-useful recommendations and communicate and present ideas effectively, both verbally and in writing
- Capable of managing multiple concurrent priorities, with strong attention to detail and a high degree of accountability for deliverables
- Promote and demonstrate a positive, team-oriented attitude, with a desire to develop, coach and lead deal teams as experience and responsibility increase
Other Attributes:
- Fluent written and spoken English
- CFA and/or MBA a plus, but not a requirement
- Demonstrated ownership mentality and willingness to take initiative beyond assigned tasks
- Strong judgment and comfort operating in a fast-paced environment with evolving priorities
- Collaborative, low-ego approach with the ability to work effectively across seniority levels and functions
Salary Range: $122,000 - $180,000
The salary range is an estimate of pay for this position. Actual pay may vary depending on job-related factors that can include location, education, skill, and experience. The salary range does not include any benefits or other forms of possible compensation that may be available to employees.
At 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.
Candidates must be at least 18 years old to apply.
Developing People at StepStone
