2024 Private Debt Summer Analyst

StepStone Private Debt (“SPD”) is a global private debt investor with over $55bn in AUM/AUA including $10 billion approved in 2022. SPD covers the breadth of the private debt market and constructs bespoke portfolios on a primary, secondary and co-investment basis. SPD focuses on two areas of the market: performing and non-performing debt across the corporate, real estate, and infrastructure sectors. SPD is a subsidiary of the StepStone Group, a global private markets firm specializing in Private Equity, Infrastructure, Private Credit and Real Estate.

Private Debt Summer Analyst Role Overview:

StepStone is currently seeking rising seniors with excellent quantitative, qualitative and interpersonal skills for an intern position on StepStone’s Private Debt Team. StepStone offers Summer Analysts a unique opportunity to achieve a valuable learning experience working across the private debt industry. Through analysis of direct lending, opportunistic lending and specialty finance funds and investments, Summer Analysts gain exposure to a wide array of industries and capital structures, and become accustomed to a variety of private debt funds and investment strategies.

Summer Analysts will be based in New York and work in a team environment with other StepStone team members to review private debt opportunities and perform due diligence on selected GPs. The investment opportunities can encompass Primary Funds, Separately Managed Accounts, Secondaries or Co-Investments. The Summer Analyst will have the opportunity to articulate findings and present recommendations, with the investment team, to the Firm’s Investment Committee. StepStone prides itself on the Firm’s collegial atmosphere, encouraging team?building initiatives and a collaborative approach to accomplishing projects.

The Summer Analyst will have exposure to all levels of the Firm, from the Partners to fellow Analysts, on a daily basis. The Analyst will have opportunities to interact with many of the top fund managers in the private credit industry. The ideal candidate will adhere to the highest ethical standards, as well as demonstrate maturity, reliability and attentiveness to detail.

Exposure & Supporting Job Functions:

• Interpret financial analyses prepared by target fund managers, including investment track records and financial statement analysis
• Perform market research using publicly available information and proprietary databases to identify, quantify and analyze macroeconomic trends across a variety of credit strategies
• Support Senior Research staff on managing and tracking the inflow of investment opportunities
• Assess marketing and supporting materials of prospective fund managers to identify key value drivers and important areas for further investigation
• Help construct an argument regarding a decision to invest or not invest, and communicate that argument efficiently in written materials; be able to defend position in a team environment, including Investment Committee meetings
• Write Fund Summaries and Investment Memorandums in line with StepStone standards
• Use creativity to analyze data and to test hypotheses regarding attractiveness of specific sectors and investment opportunities
• Form an independent opinion about the attractiveness of a credit strategy or a fund as an investment opportunity; clearly articulate findings
• Analyze and monitor the performance of the firm’s existing fund managers and underlying investments; prepare for and participate in meetings with assigned managers, and conduct on?going due diligence

Qualifications:

• Must be able to work legally in the U.S. without requiring visa sponsorship now or in the future
• Graduate in December 2024 or Spring 2025
• A desire to join our Global Private Markets investments platform after graduation
• GPA of 3.5 or better
• High proficiency in MS Word, Power Point and Excel
• Demonstrated track record of academic success
• Strong written and verbal communication skills
• Strong, demonstrable analytical capabilities, including strong quantitative/modeling skills
• Team player and strong work ethic
• Demonstration of excellent extracurriculars

Click here to learn more about the intern experience.