StepStone hires three to run real assets program

New York City–based private markets adviser StepStone Group has hired three members to join its global real assets program focused on infrastructure, timber and agriculture, oil and gas, and other resources strategies. The platform is being led by two new executives — David Altshuler and Brenden Woods, both partners and co-heads of real assets. In addition, Kate Budiselik has joined the firm as vice president with the real assets team. All three are based in San Diego.

StepStone has a large private markets business — overseeing more than $55 billion of private capital allocations, including approximately $10 billion of assets under management — and deep experience advising on related sectors, including energy.

The platform will build global real assets and infrastructure portfolios for institutional investors through a combination of fund investments, secondaries and co-investments. StepStone builds portfolios by creating and managing discretionary and nondiscretionary separate accounts for pension funds and other institutions in the United States and globally. 

Altshuler, formerly senior vice president and infrastructure practice leader with Meketa Investment Group, is responsible for advising and investment due diligence on primary funds, secondaries and co-investments across infrastructure and real assets sectors.

Woods joins StepStone from Macquarie Group, where he was head of real assets for Macquarie Investment Management’s private markets division and a member of the infrastructure investment committee and the senior partners committee.

Budiselik also joins StepStone from Macquarie Group, where she was a vice president focused on real assets in Macquarie Investment Management’s private markets division.