State Street launches dedicated real assets fund services group
State Street Corp. has launched a real assets fund services group that will provide a variety of back office investment services to real estate and infrastructure funds. The group will leverage the firm’s existing real estate platform, which services approximately $165 billion in real estate assets under administration.
“Global infrastructure investments are projected to amount to $70 trillion by 2030, making the sector the largest frontier opportunity for institutional investors and private fund managers for the next several decades,” says Scott Carpenter, global head of private equity and real assets fund services for State Street’s Alternative Investment Solutions group. “It’s critical that we continue to purposefully invest in our real assets capabilities, including infrastructure, to meet our clients’ growing needs in this arena.”
State Street also announced its AIS business has hired Kyle Alexander, an industry expert on infrastructure. Alexander most recently worked for Global Infrastructure Partners, an infrastructure investment manager, where he served as senior controller for its flagship infrastructure fund. Alexander is responsible for product strategy, growth and execution, and he reports directly to Barry Johnson, who has been appointed head of real assets fund services for North America, and Cesar Estrada, head of product management for private equity and real assets fund services for North America.
Johnson has spent 20 years in the real assets industry, and was most recently managing director of real estate products, and served as head of the real estate fund administration operations in North America for AIS. Prior to joining State Street, he was the global head of real estate fund control at Morgan Stanley.
