State Street Launches Dedicated Real Assets Fund Services Capability to Better Serve Alternatives Clients
June 18 2018 - 9:32AM
Business Wire
Firm Also Announces Hire of Infrastructure Industry Expert to
Support the Growing Asset Class
State Street Corporation (NYSE: STT) today announced that it 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, ranked as the largest among competitors1,
which services approximately $165 billion in real estate assets
under administration.2
“Global infrastructure investments are projected to amount to
$70 trillion by 20303, making the sector the largest frontier
opportunity for institutional investors and private fund managers
for the next several decades,” said Scott Carpenter, global head of
Private Equity and Real Assets Fund Services (RAFS) for State
Street’s Alternative Investment Solutions (AIS) 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 that its AIS business has hired Kyle
Alexander, an industry expert on infrastructure. Alexander most
recently worked for Global Infrastructure Partners, a leading
infrastructure manager, where he served as senior controller for
its flagship infrastructure fund. Alexander is responsible for
product strategy, growth and execution and 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, in his new position.
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 State Street, he was the global head of
Real Estate Fund Control at Morgan Stanley. In his new role,
Johnson reports to Carpenter.
For more information on State Street’s private equity and real
assets offerings, click here.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors,
including investment servicing, investment management and
investment research and trading. With $33.30 trillion in assets
under custody and administration and $2.70 trillion* in assets
under management as of March 31, 2018, State Street operates in
more than 100 geographic markets worldwide, including the US,
Canada, Europe, the Middle East and Asia. For more information,
visit State Street’s website at www.statestreet.com.
* Assets under management include the assets (approximately $36
billion as of March 31, 2018), for which State Street Global
Advisors Funds Distributors, LLC (SSGA FD) serves as marketing
agent; SSGA FD and State Street Global Advisors are affiliated.
© 2018 State Street Corporation - All Rights Reserved
State Street Corporation, One Lincoln St. Boston, MA
02111-2900Expiration date- 05/31/2019
2143311.1.1.NA.
1 eVestment Alternative Fund Administration Survey – published
April 27, 20172 State Street data. Assets as of year-end 2017.3
Global Infrastructure Outlook, Oxford Economics © 2017 Global
Infrastructure Hub
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State Street CorporationBrendan Paul, +1
617-662-2903BPaul2@StateStreet.com@StateStreet
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