On January 9, 2018, StepStone Group Real Estate LP announced it had entered into an agreement to acquire Courtland Partners, Ltd.
Steve Novick, the managing principal of Courtland Partners, Ltd. (“Courtland”), will become a partner of the StepStone Group Real Estate LP (“SRE”) and other Courtland team members will join SRE and continue to operate in Courtland’s Cleveland office. The transaction is expected to close by the end of March 2018, subject to customary closing conditions. The terms of the deal were not disclosed. Park Sutton Advisors acted as advisor to members of Courtland’s management team through the transaction.
SRE is a real estate investment firm that is part of StepStone Group LP, a private market firm that oversees approximately $130 billion in private capital allocations and has approximately $34 billion in assets under management.
Courtland is an institutional investment adviser providing advisory services in the real estate, infrastructure, energy, timber, and agriculture sectors. Courtland currently advises on approximately $95 billion in assets.
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