Private Equity Co-Investments Associate / Senior Associate

StepStone Group LP - New York, NY (30+ days ago)

About StepStone:
StepStone is a global private markets specialist overseeing over US$230 billion of private capital allocations, including approximately US$35 billion of assets under management.

StepStone Private Equity provides its investors and clients with customized exposure to private equity through its global market relationships, deep research capabilities, granular due diligence, and structuring capabilities. StepStone builds this exposure through its commingled funds, customized funds, separately managed accounts, and investment advisory assignments.

Position Overview

StepStone is currently seeking candidates with excellent quantitative, qualitative and interpersonal skills for an Associate or Senior Associate position on StepStone's Private Equity Research Team. The position's primary role is to engage broadly in various areas of the private equity industry, but will focus on co-investments. It is favorable, but not required that the candidate have a background or interest in Venture Capital/Growth Equity.

He/she is expected to have a strong understanding of corporate finance and a demonstrable interest in the private markets. In addition, the individual will work in a team environment with other Research team members to target and perform due diligence on co-investments. In addition to responsibilities on the co-investment platform, he/she would also be expected to perform due diligence on selected private equity fund managers; analyze PPMs, financial statements and investment returns; and conduct reference calls and personal interviews. The position will have the opportunity to present recommendations to the investment team and 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 position will have exposure to all levels of the Firm, from Partners to fellow Associates, on a daily basis. He/she will often have opportunities to interact with many of the top fund managers in the private equity industry. The ideal candidate will possess a bachelor’s degree and 4 to 6 years of private equity, investment banking, consulting, or other relevant experience, including 2 to 3 years of direct or co-invest investing. Some background in Venture Capital/Growth Equity is desirable but not required. He/she will adhere to the highest ethical standards, as well as demonstrate maturity, reliability, and attentiveness to detail.

Essential Job Functions:
  • Perform market research using publicly available information and proprietary databases to identify, quantify and analyze macroeconomic trends across a variety of industry sectors
  • Interpret financial analyses prepared by target fund managers, including investment track records; prepare valuation analyses on private companies using a variety of metrics
  • Financial modeling, including basic leveraged buyout and cash flow analysis
  • Support Senior Research staff on sourcing and managing 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
  • Conduct phone interviews with senior executives to gather insights and information regarding the style and effectiveness of target fund managers
  • Construct an argument around an opinion and efficiently communicate that argument both verbally and in written materials; be able to defend position in a team environment, including Investment Committee meetings.
  • Use creativity to source and analyze data and to test hypotheses regarding attractiveness of specific sectors and investment opportunities
  • Monitor the performance of the Firm's existing investment portfolio,fund managers and underlying portfolio companies; prepare for and participate in meetings with assigned managers, and conduct on-going due diligence
Other Requirements

  • BA/BS in Business, Finance, Economics or Accounting, or equivalent relevant experience
  • Demonstrated track record of academic and professional success
  • Proven ability to represent firm in written and interpersonal communications
  • Strong, demonstrable analytical capabilities, including strong quantitative/modeling skills
  • Leadership experience
  • High proficiency in Word, Power Point and Excel
  • Developed investment judgment with demonstrable understanding of risk/reward tradeoffs
  • Flexibility—StepStone is a young and entrepreneurial organization; all professionals are expected to perform multiple functions as the firm continues to grow and develop
Other Desired Skills/Attributes

  • Promote and demonstrate a positive, team-oriented attitude
  • Applied experience in valuation and investment analysis, in both credit and equity
  • Enrollment in the CFA program a plus, but not required