Poole College graduate Mary Fedewa receives 2024 Distinguished Alumni Award

Thinking back to her time as a student at NC State, Mary Fedewa ’91 tells the story of a finance professor who stopped her after class one day to talk about an opportunity with General Electric’s finance arm.

“She took the time to say something to me and that taught me a lot,” Fedewa recalls. “I’m grateful that she let me know about the opportunity, but it was also about the importance of taking time with people.

“It’s not always easy to do, it can be hard to pause and offer that help, but it’s important.”

That conversation started Fedewa down a path that led her to where she is today – co-founder, current president and chief executive officer of STORE Capital, a large $15 billion and fast-growing net-lease real estate investment trust.

It’s also at the heart of why Fedewa gives back to NC State and the Poole College of Management. Over the past several years, she’s created the Mary B. Fedewa Family Extraordinary Opportunity Scholarship Endowment, which will support students with financial need in Poole College. She also provided a generous gift, giving all NC State students access to the Headspace App, which fosters habits that support mental health.

In the same way that professor took time for her, Fedewa is finding ways to support the next generation. By building a solid foundation at Poole College, Fedewa knows students can grow from there.

“The sooner you can believe in yourself, the better,” she says.

Fedewa’s vision in this regard is part of why she was recognized with Poole College’s 2024 Distinguished Alumni Award during Red & White Week. The award is bestowed each year to an alumnus in recognition of his or her career success and support for the university.

Indeed, Fedewa is deserving in both respects. She traces her career success back to her experiences at Poole, to that conversation about General Electric, and then to the direction in which those early professional experiences took her.

A passion for finance

Fedewa grew up in a family full of accountants and CPAs. She had a passion for finance when she enrolled at NC State. Though accounting was in the family tree, she sought out a broader focus in finance with an interest in cash flows and how money is made.

At NC State, she found “great classes and great professors,” she says, graduating in 1991 Summa Cum Laude with a degree in Business Management with a concentration in Finance.

When she went to work for GE Capital, it built upon that foundation from NC State, teaching her about a broad range of topics across finance. Within GE, she moved around and was later part of the team that made new acquisitions, buying up other businesses.

It was one of the last acquisitions she made with GE that lit the spark in Fedewa to become one of five co-founders of STORE Capital.

The founder in that acquisition, now in his late 80s and still a friend of Fedewa’s, was raising money, buying land and buildings, and leasing to business operators.

“It allowed the business owner to operate their business and have a finance partner behind them,” she says. “I was fascinated by it – you’re the wind beneath their wings.”

Fast forward to today, and STORE Capital owns 3,300 properties across the United States.

Fedewa says her passion for the business is in creating something and adding value to the world. There could be an early childhood education center, a fitness center, a movie theater, or any number of other businesses housed within their properties.

“We’re buying real estate that enables working parents to have a place for their children during the day, or for people to engage in fitness for their health,” she says. “I am most proud of creating that value, giving back to our communities, and helping to create jobs.”

Deciding to give back

Fedewa often thinks about how her experiences at Poole helped get her to where she is today.

“I wanted to give back to Poole College and NC State from that perspective, and I wanted it to be in a meaningful way,” she says.

When she started talking with Lauren Welch, who was with NC State Advancement at the time, about her options, Fedewa said the two talked a lot about what’s been important along her professional journey.

“One of the most important things is emotional intelligence, staying grounded, and finding a strength that comes from empathy and compassion,” she says. “Life throws so much at you and we can choose to be annoyed or a victim, but I chose to be a creator.”

When she learned that NC State had needs in the mental health space, Fedewa found her fit and made the Headspace gift in the hopes of supporting students across NC State.

“Believing in yourself is so foundational,” she says. “Starting at the root cause is something I think a lot about, I’m not a band-aid person – build a solid foundation and from there, you can blossom.”

To now be honored with the Distinguished Alumni Award is humbling, Fedewa says.

“It’s an amazing honor, I’m so grateful for it,” she says. “It’s just a gift for me to give back to a place that really was a leg up for me in starting my career after college.”