Meketa Investment Group, a Boston-based consulting firm focusing on real assets, has named Stephen McCourt and Peter Woolley to succeed founder and current chief executive (CEO) Jim Meketa.
Previously managing principals at the company, McCourt and Woolley will report to Meketa, who will assume the newly created position of chairman, as well as to the board of directors, a spokesperson for the firm told PDI sister title Infrastructure Investor.
Effective July 31, the changes are part of the firm’s succession plan. “Establishing the next generation of the firm’s management has always been part of a long-term plan, guided by Jim Meketa and the executive committee,” the spokesperson said in an e-mailed response. “After careful planning, we are proud to have achieved this seamless transition.”
McCourt and Woolley have been with the firm since 1994 and 1996, respectively, and have served on its executive committee for more than a decade. As co-CEOs they will lead the committee, which oversees the management team, while continuing to play significant roles in the firm’s research and consulting activities.
Asked why the role of chief executive was split into two, the spokesperson responded: “With [Meketa Investment Group]’s geographic breadth and with the leadership talents of Steve and Peter, the executive committee felt the firm would be best served by a co-CEO structure.” McCourt will be based in San Diego while Woolley will be based at the firm’s Boston headquarters.
McCourt and Woolley have worked together for 20 years and as members of the executive committee have played a role in growing and managing the firm. “Their management styles and client experience are complementary and their deep knowledge of the firm has well positioned Steve and Peter to co-lead,” the spokesperson said.
In his new role as chairman of the firm, Meketa will continue to play an active role serving as a resource for the firm’s management team and remain actively involved with research and client service.
The company is also expanding its board of directors to include managing principals and executive committee members Alan Spatrick, John Haggerty and Frank Benham.
Founded in 1978, Meketa Investment Group is a full service investment consulting and advisory firm. Since 1993, it has been advising clients on real estate, infrastructure, and natural resources.
Its clients include Taft-Hartley funds, public funds, corporates and non-profits. The firm consults on more than $335 billion in assets for over 100 clients whose total aggregate institutional assets exceed $800 billion.
In addition to Boston and San Diego, the company also has offices in Miami; Portland, Oregon; and London.