StepStone Real Estate Acquires Courtland Partners
The merged company now has approximately $100 billion in assets under administration.
NEW YORK CITY—Real estate investment firm StepStone Real Estate closed on its acquisition of Courtland Partners, Ltd. and the firms are fully integrated. SRE now manages approximately $100 billion of capital allocations from institutional investors, including over $3 billion of assets under management, and expects to deploy more than $10 billion over the next 12 months to real estate investments through primary fund investments, co-investments, secondaries and recapitalizations.
With nearly 50 employees, SRE has offices in the US, Europe and Asia. Founded in 1995, Courtland Partners was a leading real estate consultant and institutional investment manager for institutional investors including pension funds, endowments, foundations, insurance companies, fund of funds and banks located in the US, Europe and Asia.
“The SRE and Courtland teams have been working together since last year to ensure a smooth and seamless integration,” says Jeff Giller, partner and head of SRE. Steve Novick is chairman and a founding member of Courtland’s investment committee, an equity owner, principal and the COO. He will continue to manage Courtland relationships. Novick adds that Courtland’s clients have a high regard for StepStone and have been very supportive of the merger.
SRE is part of StepStone Group LP, a global private markets firm with over 350 employees that oversees more than $230 billion of private capital allocations, including more than $35 billion of assets under management.
Ocean Park was the exclusive financial advisor to Courtland on this transaction.