Key Takeaways
- • StepStone Group launches S-Core, a new global Core/Core+ real estate investment platform designed to expand the firm's core real estate activities across North America, Europe, and Asia-Pacific regions.
- • Jennifer Jones, a veteran UBS executive with over $100 billion in real estate and private markets experience, has been appointed Partner to lead the S-Core platform launch.
- • S-Core targets core-plus returns of 9-11 percent with 30-50 percent leverage and current cash flow yields of 3-7 percent, positioning the platform within the stabilized, income-generating segment of the real estate market.
- • The platform leverages StepStone's existing synergies between its asset management and advisory practices, drawing on deep market research capabilities to inform investment decisions.
Summary
StepStone Group, the New York-based private markets investment firm, announced the launch of S-Core, a new global platform dedicated to Core and Core+ real estate investments. The initiative represents a significant expansion of the firm's real estate capabilities, building on existing operations across North America, Europe, and Asia-Pacific.
Jennifer Jones, a seasoned real estate executive with extensive experience at UBS, has been appointed as Partner to lead S-Core's global operations. Jones brings over $100 billion in combined real estate and private markets investment experience, positioning her to oversee the platform's strategy and execution. Her recruitment underscores StepStone's commitment to attracting senior talent to scale the initiative.
The S-Core platform targets the core and core-plus segment of the real estate market, which StepStone defines as having 9-11 percent target returns, 30-50 percent leverage, and current cash flow yields of 3-7 percent. This positioning focuses the platform on stabilized, income-generating properties rather than higher-risk development or value-add strategies. The platform capitalizes on synergies between StepStone's asset management and advisory businesses, leveraging the firm's proprietary market research and analytical capabilities to inform investment selection and portfolio management decisions.
The launch reflects broader industry trends toward consolidating real estate platforms within multi-asset managers and emphasizes StepStone's strategy to deepen its footprint in the core real estate market, a segment characterized by lower volatility and consistent income generation—attractive characteristics for institutional investors navigating current market conditions.
Jennifer Jones, a seasoned real estate executive with extensive experience at UBS, has been appointed as Partner to lead S-Core's global operations. Jones brings over $100 billion in combined real estate and private markets investment experience, positioning her to oversee the platform's strategy and execution. Her recruitment underscores StepStone's commitment to attracting senior talent to scale the initiative.
The S-Core platform targets the core and core-plus segment of the real estate market, which StepStone defines as having 9-11 percent target returns, 30-50 percent leverage, and current cash flow yields of 3-7 percent. This positioning focuses the platform on stabilized, income-generating properties rather than higher-risk development or value-add strategies. The platform capitalizes on synergies between StepStone's asset management and advisory businesses, leveraging the firm's proprietary market research and analytical capabilities to inform investment selection and portfolio management decisions.
The launch reflects broader industry trends toward consolidating real estate platforms within multi-asset managers and emphasizes StepStone's strategy to deepen its footprint in the core real estate market, a segment characterized by lower volatility and consistent income generation—attractive characteristics for institutional investors navigating current market conditions.
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