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State Street Launches Dedicated Real Assets Fund Services Capability to Better Serve Alternatives Clients

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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