Cleveland-based Courtland Partners Ltd. is being acquired by StepStone Group Real Estate LP, creating one of the world’s largest and most active real estate solutions providers. The combined company will manage about $100 billion of capital allocations from institutional investors and more than $2 billion of assets under management. It will also deploy more than $10 billion per year to real estate investments through primary fund investments, co-investments, secondaries and recapitalizations. Courtland Managing Principal Steve Novick will become a partner at SRE and continue to oversee Courtland’s current client relationships. Courtland team members will join SRE and continue to operate out of Courtland’s Cleveland office. “SRE and StepStone’s greater global footprint will enhance Courtland’s ability to provide its clients advice on international real estate opportunities,” Novick said in a statement.