Current senior at Target and saw a co-op posting for StepStone Infra TO.
Decided to do some due diligence and saw that their stock is down ~34% YTD. Can anyone tell me what happened? Is it even worth doing a co-op there?
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Look at the stock of any asset manager they are all down. Higher interest rates is never good for these companies
Not fully related but know the RE SA (~12) Advisory team had no returns. Might be from blaming younger talent for current market conditions
It’s the case with all the large public asset managers. They are all down ~20-40%. I would spend more time understanding the specific team.
Would highly recommend against Stepstone- only the dumbest and the most arrogant people work there, low pay, low deal rep
Pretty solid infra shop with a good brand name across the street, so worth giving them a shot. Lmk if you are in the process and I can try to give some advice
Have R2 sometime next week for Infra & Real Assets, any chance I could get some wisdom
Sure send a message
How does their infra team compare to their other investment teams and to comps (Ardian, BXSP, Pantheon, Harbourvest, etc...)?
The names you mentioned there are obviously much larger platforms in terms of AUM and reputation, so opportunities are fairly different.
Happy to discuss more if you send a pm!
Generally speaking - you won’t be learning from real investors there. Desk rep is bad and shallow. Usually your seniors are people pushed out/ fired from real investment jobs. Similar to partners group. Has role inflation in some groups. With directors performing at the levels at snipe associates at a real fund
Yah they’re fucked. By the same logic so are Blackstone, Apollo, KKR, Carlyle, Blue Owl, EQT…
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