Job description
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:
StepStone Group LP (StepStone) seeks an Associate for our Private Equity team at its NYC location.
ESSENTIAL JOB FUNCTIONS:
- Engage broadly in various areas of private equity, focusing on secondaries (as well as buyout, special sits, etc.), and contributing to all aspects of the secondary deal process.
- Utilize expertise as an investment professional to source, execute and complete successful private equity deals within our entrepreneurial, collaborative, culture, with a high deal volume. Consider how our private equity deals link together and will relatedly craft creative deal structuring.
- Perform private equity deal sourcing/screening and conduct due diligence on private equity secondary and direct investments, leveraging the firm’s global network.
- Lead evaluation and analysis of secondary transactions assets across stages (i.e., buyout, venture, growth equity, etc.), industries and geographies.
- Work with outside groups, including fund managers, company management teams and investment bankers, as well as internally across groups, to perform due diligence, find new deal opportunities and execute transactions.
- Conduct financial due diligence by utilizing advanced financial and mathematical models. Perform market research to identify, quantify and analyze macroeconomic trends across a variety of sectors.
- Perform investment monitoring analyses using maintained proprietary transaction and market intelligence.
- Prepare and present financial due diligence materials and Investment Committee memos to senior private equity leadership.
- Construct an expert opinion around various investment opportunities and efficiently communicate it both verbally and in written materials, with the ability to defend analysis in a team environment, including in Investment Committee meetings.
- Negotiate/coordinate the private equity deal closing/structuring process and perform post‐close monitoring of existing investments.
- Manage relationships with private equity sponsors, intermediaries, advisors (financial, legal, commercial) and other investors. Develop, coach and lead deal teams, mentoring junior associates and analysts, serving as a resource while they manage their workflows.
EDUCATION AND/OR WORK EXPERIENCE REQUIREMENTS:
- Must have a Bachelor’s Degree in Economics, Finance or a related field and 3 years of experience in the job offered or as an Investment Banking Analyst or a related role in the financial services industry.
REQUIRED KNOWLEDGE, SKILLS, AND ABILITIES
Two (2) years of required experience must include:
- Conducting market research for an investment bank on the healthcare services and healthcare IT sectors, creating pitch decks and Confidential Information Decks (CIDs) to support M&A efforts, and working with third-party advisors to facilitate buyer due diligence (DD) through to deal closing;
- Building bottom-up, three-statement financial models/forecasts, and conducting valuation analyses using methods including discounted cash flow (DCF), precedent transactions, market comparables and leveraged buyout (LBO) methodologies;
- and Utilizing platforms including Pitchbook and FactSet to conduct thorough market research and financial analysis, identifying potential investment opportunities and assessing industry trends.
One (1) year of required experience must include:
- Executing private equity buyout transactions focused on middle-market software companies in North America or Europe, with experience working on cross-border transactions;
- Utilizing understanding of Software business models to perform financial, operational and valuation analyses, including conducting expert calls, working with third-party advisors to support commercial, QofE and tax due diligence, and preparing investment committee memos that communicate key deal insights, risks and opportunities;
- Conducting ARR and retention analysis, stress-testing downside scenarios, building LBO models and performing market-sizing and competitive analysis;
- Performing portfolio monitoring with middle-market software companies, specifically working with senior executives on annual budgeting, financial performance monitoring, quarterly valuations, bolt-on acquisitions and SaaS metrics tracking
- Executing dividend recapitalizations, including leading liquidity analyses, assessing debt capacity and evaluating leverage constraints to ensure sustainable financing solutions.
\* May work remotely 1 day per week from the New York City metropolitan area.
Salary: $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.
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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.
Developing People at StepStone
