Stepstone REPE
Have an upcoming 1st round interview with Stepstone Group for the Real Estate Investment team in London.
Just wondering if anyone had any colour on the team (comp, wlb etc.) / interview (its with HR)? Thanks!
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Based on the WSO Dataset, StepStone Group's real estate team primarily focuses on fund investments and recaps. While specific details about compensation (comp), work-life balance (wlb), and HR interview processes for the London office aren't directly provided, we can infer some general expectations based on industry norms and the nature of the firm's work.
For a first-round interview with HR at StepStone Group in London, especially for the Real Estate Investment team, you can anticipate the following:
HR Interview Focus: Initial HR interviews typically assess cultural fit, communication skills, and motivation for the role. Expect questions about your background, why you're interested in real estate investment, and why StepStone Group appeals to you.
Understanding of StepStone's Strategy: Given StepStone's focus on fund investments and recaps, demonstrating an understanding of these areas and how they fit into the broader real estate investment landscape will be beneficial. Be prepared to discuss any relevant experience or knowledge you have in these areas.
Work-Life Balance (WLB): While specific WLB details at StepStone's London office aren't provided, real estate investment roles often involve significant commitment, especially in firms involved in fund investments and strategic recaps. However, firms also value sustainability in workload to retain talent, so it's reasonable to expect a rigorous yet manageable work environment.
Compensation: Compensation in real estate investment roles varies widely by firm, location, and individual performance. StepStone, being a reputable firm, likely offers competitive compensation packages aligned with industry standards in London. However, detailed comp discussions usually occur in later interview stages or with senior team members.
Preparation Tips: Review StepStone's recent deals, fund performance, and any public information about their real estate investment strategy. Also, prepare to discuss your analytical skills, deal experience (if any), and how you can contribute to the team.
Questions for HR: It's always good to have thoughtful questions prepared for the interviewer. Consider asking about the team's culture, the typical career path for the role you're interviewing for, and how the firm measures success in real estate investments.
Remember, the first round is as much about ensuring you're a good fit for the team as it is about your technical skills. Show enthusiasm, professionalism, and a genuine interest in the role and the firm's work.
Sources: Investment Banking Interview Questions - 15 Answers to Land the Job, StepStone Real Estate, Interview - Real Estate Investment Banking Analyst, PJT Park Hill Real Estate Group Interview (NY office), Blackstone Real Estate Debt Strategies: phone interview experiences?
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Isn't it just a fund of funds?
They should also be doing co-investment from what I have read online. I was just curious about the culture and comps - I see they've opened up several positions for the RE team (different seniority), so I assume something is moving.
Any advice would be appreciated.
From what I know:
- it’s mostly a fund-of-funds structure (aka they are not in the front seat for most of the true RE work)
- they do some co-invest / JV stuff, but again i think mostly as an LP (again not the driving seat)
- given this, it will probably be a more “typical” finance role, where you are largely focused on your portfolio / investments without being the value-creation driver of those assets yourself (like a stock portfolio)
- From my knowledge, this results in lower pay and bonus % but better WLB and more WLB
Mostly separately managed accounts but some commingled too. Upwards of 70% of dealflow is Secondaries with the remainder being a mix of Co invest and Primaries (More Co Invest) . Comp is about market for FOF, hours slightly above market. culture is great. Also for London I’ve heard one of the VPs in the RE office is a douche.
What to expect in interview? Never done a secondary/ FoF interview - know basics around LBO/DCF/Accounting thoroughly.
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