Stephen’s capital markets career began in the hedge fund industry and evolved toward complex and alternative investment analysis for large financial institutions. His latest roles were Director of Due Diligence at two $200 billion+ independent broker/dealer networks involving all aspects of investment and operational due diligence. He has presented institutional quality investment and risk analysis on opportunities in commercial and residential real estate, private equity, private debt, and energy in over 100 investment committees in the past decade.
Stephen is an expert in the compliance requirements and characteristics of a wide range of investment vehicles including private placements, interval funds, and tax-advantaged structures such as Real Estate Investment Trusts and Business Development Companies. The investment managers he’s worked with include The Blackstone Group, L.P., Bain Capital, Warburg Pincus, Brookfield Asset Management, KKR & Co., Apollo Global Management, The Carlyle Group, L.P., and Neuberger Berman, among others. Stephen has authored publications on subjects ranging from SEC and FINRA regulation to investment strategy to advanced engineering applications. He obtained his BA in Economics and MS in Energy & Earth Resources with a concentration in Petroleum Engineering from the University of Texas at Austin.
Stephen is involved in all major projects under the Wide Moat umbrella. He frequently contributes REIT and real estate content to iREIT on Alpha and leads research efforts and tool/portfolio development for Business Development Companies and mortgage REITs. He provides regular updates on the major trends and nuances within each REIT sector and the broader market. As a CFA charterholder with over a decade of institutional operational and investment due diligence experience, he works alongside the Wide Moat team to ensure WMR’s research, portfolio construction, and valuation processes are consistent with the world’s most successful and established asset managers.