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Meketa expands staff ownership as part of succession plan

The real assets consulting firm has added two shareholders, bringing its total to 28, two years after its founder reduced his position to a minority share.

Meketa Investment Group, a Boston-based consulting firm focused on real assets, has added two new shareholders to its employee ownership.

Gerald Chew and Aneish Arora will be joining the firm’s ownership, bringing the number of employee shareholders to 28. The move is “in keeping with our long-term succession plan and will ensure Meketa continues to serve as a thought leader”, Meketa’s managing principal and co-chief executive Stephen McCourt said.

Chew, who has been with the firm since 2007, works in Meketa’s private markets group and is focused primarily on investments in natural resources and other real assets. Arora serves as a consultant, working on investment policy design and asset allocation modelling.

The firm’s founder, Jim Meketa, served as CEO and majority shareholder until 2015, when he moved to the position of chairman while McCourt and Peter Woolley took over as co-chief executives. The firm is entirely employee-owned, with no outside ownership interest.

“That’s the philosophy behind expanding the ownership base, to build a solid base of motivated owners who are also employees in the firm,” McCourt told Infrastructure Investor. “Our plan is to continue to expand the ownership base as the company grows.”

Founded in 1978, Meketa has offices in San Diego, Miami, Portland, Oregon and London in addition to its Boston headquarters. It has been advising clients – including Taft-Hartley funds, public funds, corporates and non-profits – on real estate, infrastructure and natural resources since 1993. Meketa consults on more than $400 billion for clients with aggregate assets totalling more than $890 billion.