Key Takeaways
- • StepStone Real Estate appoints Jennifer Jones, a 20-year UBS veteran, as Partner to lead the launch of S-Core, a new global core and core-plus real estate investment platform.
- • Jones transitions from UBS, where she most recently served as senior portfolio manager for the firm's global core-plus vehicle and head of real estate partnerships and investments, bringing institutional-grade portfolio management experience to the new platform.
- • S-Core will operate through a series of separate accounts initially focused on secondaries, co-investments, and tactical operating company investments, with Jones based in San Francisco overseeing global mandate execution.
- • The appointment reflects StepStone Real Estate's strategic expansion into the core and core-plus real estate segment, a market segment characterized by lower volatility and steady cash flows attractive to institutional capital.
Summary
StepStone Real Estate has elevated its real estate investment platform capabilities with the appointment of Jennifer Jones as Partner to lead S-Core, a newly launched global core and core-plus investment platform. Jones joins from UBS, where she accumulated nearly two decades of experience, most recently managing the firm's global core-plus vehicle while simultaneously directing real estate partnerships and investments.
Jones's appointment underscores StepStone Real Estate's commitment to expanding its institutional real estate offerings beyond its existing market segments. Her background managing UBS's core-plus portfolio—a real estate strategy focused on stabilized, income-producing assets with selective value-add opportunities—positions her to architect and scale S-Core's investment approach. Operating from San Francisco, Jones will carry global responsibility for the platform's strategic direction and capital deployment.
S-Core's initial structure reflects a diversified investment thesis centered on three primary channels: secondary real estate purchases, co-investments alongside other institutional investors, and tactical operating company acquisitions. This multi-pronged approach allows StepStone Real Estate to serve institutional clients seeking core-plus exposure while maintaining flexibility to pursue opportunistic positions in the current market environment. The separate accounts structure provides customization for investor mandates and risk tolerance, a critical feature for large institutional allocators.
The move represents a significant institutional talent acquisition in the competitive real estate asset management sector, where experienced portfolio managers with substantial track records remain highly sought after. Jones's experience at UBS—a premier global wealth and asset management platform—signals StepStone Real Estate's intention to compete aggressively for institutional capital by deploying proven investment leaders with established institutional relationships and rigorous portfolio management methodologies.
Jones's appointment underscores StepStone Real Estate's commitment to expanding its institutional real estate offerings beyond its existing market segments. Her background managing UBS's core-plus portfolio—a real estate strategy focused on stabilized, income-producing assets with selective value-add opportunities—positions her to architect and scale S-Core's investment approach. Operating from San Francisco, Jones will carry global responsibility for the platform's strategic direction and capital deployment.
S-Core's initial structure reflects a diversified investment thesis centered on three primary channels: secondary real estate purchases, co-investments alongside other institutional investors, and tactical operating company acquisitions. This multi-pronged approach allows StepStone Real Estate to serve institutional clients seeking core-plus exposure while maintaining flexibility to pursue opportunistic positions in the current market environment. The separate accounts structure provides customization for investor mandates and risk tolerance, a critical feature for large institutional allocators.
The move represents a significant institutional talent acquisition in the competitive real estate asset management sector, where experienced portfolio managers with substantial track records remain highly sought after. Jones's experience at UBS—a premier global wealth and asset management platform—signals StepStone Real Estate's intention to compete aggressively for institutional capital by deploying proven investment leaders with established institutional relationships and rigorous portfolio management methodologies.
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