StepStone Real Estate to acquire Courtland Partners

StepStone Group Real Estate (SRE) has entered into an agreement to acquire Courtland Partners.

The transaction is expected to close by the end of March 2018, subject to customary closing conditions.

Following the integration of Courtland, SRE will be among the world’s largest and most active real estate solutions providers, managing approximately $100 billion of capital allocations from institutional investors, including more than $2 billion of assets under management and deploying more than $10 billion per year to real estate investments through primary fund investments, co-investments, secondaries and recapitalizations. The combined real estate group will have more than 50 professionals working from offices in the United States, Europe and Asia.

Steve Novick, Courtland’s managing principal, will become a partner of SRE and continue to oversee Courtland’s current client relationships. Courtland team members will join SRE and continue to operate out of Courtland’s Cleveland office.

Courtland was founded by Michael Humphrey in 1995 and advises institutional investors on their real estate solutions. When Humphrey passed away at the end of 2016, Courtland undertook a strategic review to determine how to best continue to provide its clients with the highest quality investment solutions and enhance its breadth of service offerings.

SRE is part of StepStone Group, a global private markets firm providing customized investment, portfolio monitoring and advisory solutions to some of the most sophisticated investors in the world.