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Form of workJob Description
StepStone is a rapidly growing Global Private Markets firm who provides customized investment and advisory solutions to some of the most sophisticated investors in the world. With $640 billion of total capital allocations, including $143 billion in AUM, we are highly diversified in the private markets across the globe and provide creative solutions to solve for the objectives of any investment program. With a culture built on entrepreneurialism, partnership and being a team within teams, our firm offers joiners the opportunity to think out loud, collaboratively.
Team Overview
StepStone Private Debt ("SPD") is a global Private Debt investor with over $55bn in AUM/AUA including $10 billion approved in 2022. SPD covers the breadth of the Private Debt market and constructs bespoke portfolios on a primary, secondary and co-investment basis. SPD focuses on two areas of the market: performing and non-performing debt across the corporate, real estate, and infrastructure sectors. SPD is a subsidiary of the StepStone Group, a global private markets firm specializing in Private Equity, Infrastructure, Private Credit and Real Estate.
Private Debt Summer Senior Associate Role Overview:
StepStone is currently seeking rising second year MBA students with excellent quantitative, qualitative and interpersonal skills for an intern position on StepStone's Private Debt Team. StepStone offers Summer Senior Associates a unique opportunity to achieve a valuable learning experience working across the Private Debt industry. Through analysis of direct lending, opportunistic lending and specialty finance funds and investments, Summer Senior Associates gain exposure to a wide array of industries and capital structures, and become accustomed to a variety of Private Debt funds and investment strategies.
Summer Senior Associates will be based in New York and work in a team environment with other StepStone team members to review Private Debt opportunities and perform due diligence on selected GPs. The investment opportunities can encompass Primary Funds, Separately Managed Accounts, Secondaries or Co-Investments. The Senior Associates will have the opportunity to articulate findings and present recommendations, with the investment team, to the Firm's Investment Committee. StepStone prides itself on the Firm's collegial atmosphere, encouraging team‐building initiatives and a collaborative approach to accomplishing projects.
The Summer Senior Associate will have exposure to all levels of the Firm, from the Partners to fellow Analysts, on a daily basis. The Summer Senior Associate will have opportunities to interact with many of the top fund managers in the private credit industry. The ideal candidate will adhere to the highest ethical standards, as well as demonstrate maturity, reliability and attentiveness to detail.
Exposure & Supporting Job Functions:
- Interpret financial analyses prepared by target fund managers, including investment track records and financial statement analysis
- Perform market research using publicly available information and proprietary databases to identify, quantify and analyze macroeconomic trends across a variety of credit strategies
- Support Senior Research staff on managing and tracking the inflow of investment opportunities
- Assess marketing and supporting materials of prospective fund managers to identify key value drivers and important areas for further investigation
- Help construct an argument regarding a decision to invest or not invest, and communicate that argument efficiently in written materials; be able to defend position in a team environment, including Investment Committee meetings
- Write Fund Summaries and Investment Memorandums in line with StepStone standards
- Use creativity to analyze data and to test hypotheses regarding attractiveness of specific sectors and investment opportunities
- Form an independent opinion about the attractiveness of a credit strategy or a fund as an investment opportunity; clearly articulate findings
- Analyze and monitor the performance of the firm's existing fund managers and underlying investments; prepare for and participate in meetings with assigned managers, and conduct on‐going due diligence
Qualifications:
- Must be able to work legally in the U.S. without requiring visa sponsorship now or in the future
- Enrolled in a full-time MBA program
- Graduate in December 2024 or Spring 2025
- A desire to join our Global Private Markets investments platform after graduation
- High proficiency in MS Word, Power Point and Excel
- Demonstrated track record of academic success
- Strong written and verbal communication skills
- Strong, demonstrable analytical capabilities, including strong quantitative/modeling skills
- Team player and strong work ethic
- Demonstration of excellent extracurriculars
Click here to learn more about the intern experience.
Salary Range: $100,000 - $120,000
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.
About us
Working out of 26 offices in 15 countries, StepStone has a truly global viewpoint. As people are our biggest asset, we offer resources to help our employees reach their full potential. Our principles are based on integrity, transparency, respect and creativity, which together define how we do business.
Join us
When you choose to work at StepStone, you'll find a group of professionals who are passionate about anticipating changes, solving problems and working together to make it all happen. Our integrated global team shares insights into how managers think and operate, as well as how they might perform.
StepStone offers a competitive compensation package including salary and incentive compensation for all full time hires, as well as a comprehensive benefits package.
Benefits
We offer a range of benefits which include comprehensive healthcare, strong retirement plan, a mental health well-being program, paid time off, student loan repayment program for our US office locations, and several wellness initiatives.
Disclaimer / Policy Statements
At StepStone, diversity, equity and inclusion are an integral part of our culture. We are an Equal Opportunity Employer that strives to create an inclusive environment that empowers our employees and allows them to be heard, regardless of title or tenure. Our organizational community features multiple Employment Resource Groups representing our dedication to Diversity, Equity & Inclusion.
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.
Developing People at StepStone
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