2025 Real Estate Research Summer Analyst

StepStone is a rapidly growing Global Private Markets firm who provides customized investment and advisory solutions to some of the most sophisticated investors in the world. With $675 billion of total capital allocations, including more than $150 billion in AUM, we are highly diversified in the private markets across the globe and provide creative solutions to solve for the objectives of any investment program.  With a culture built on entrepreneurialism, partnership and being a team within teams, our firm offers joiners the opportunity to think out loud, collaboratively.

Real Estate Research Summer Analyst Role Overview:

StepStone offers Summer Analysts an opportunity to achieve valuable learning experiences working across the real estate private equity industry. Through analysis of opportunistic, value-add, core and credit funds, Summer Analysts gain exposure to a wide array of property types, markets and capital structures and become accustomed to a variety of real estate private equity funds and investment strategies. The Summer Analyst will have the opportunity to prepare and present recommendations, with the investment team, to the Real Estate Investment Committee and to the Real Estate team’s client base of institutional investors.

StepStone prides itself on the Firm’s collegial atmosphere, encouraging team-building initiatives and a collaborative approach to accomplishing projects. The ideal candidate will possess strong academic achievement, high quality writing skills and a solid financial background.

Essential Internship Functions:

• The underwriting and assessment of prospective fund manager marketing and supporting materials to identify key value drivers and important areas for further investigation
• Perform market research using publicly available information and proprietary databases to identify, quantify and analyze macroeconomic trends across a variety of property types
• Interpret financial analyses prepared by operating fund managers, including investment track records, financial statement analysis and fund models
• Prepare for and participate in meetings with potential partners, fund managers and assist in all aspects of active investment and advisory on-going due diligence
• Efficiently communicate a position verbally and in written materials, including defending a position in a team environment such as Investment Committee meetings
• Support full-time staff on coverage responsibilities including asset and portfolio management of existing real estate portfolio and sourcing and managing the inflow of investment opportunities

Qualifications:

• Must be able to work legally in the U.S. without requiring visa sponsorship now or in the future
• Undergraduate student graduating anywhere from December 2025 through June 2026
• Pursuing a BA/BS in Finance, Economics, Accounting or Law, or equivalent relevant experience
• GPA of 3.2 or above
• Enthusiastic interest in real estate investing
• Team player with strong work ethic and written and verbal communication skills
• High proficiency in Microsoft Word, PowerPoint, and Excel
• Must be willing to reside in Cleveland, Ohio