BOSTON--(BUSINESS WIRE)--

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.

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State Street Corporation, One Lincoln St. Boston, MA 02111-2900

Expiration date- 05/31/2019

2143311.1.1.NA.

¹ eVestment Alternative Fund Administration Survey – published April 27, 2017

² State Street data. Assets as of year-end 2017.

³ Global Infrastructure Outlook, Oxford Economics © 2017 Global Infrastructure Hub

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