In the bottom of a large pot, such as a large stock pot or Dutch oven, heat to medium heat and add oil.
Add the cubed meat and then add a pinch of salt and pepper. Sear until the meat is golden brown, about 2 minutes per side. Remove the meat and set it aside until ready to use.
To the same pot, add butter, onions and garlic. Cook over low heat until the onion is translucent.
Stir in the cubed potatoes, tomato paste and sliced carrots and cook for another 5 to 10 minutes or until soft. Add the meat back into the pot.
Add the beer to the mixture and stir to release any more flavor from the bottom of the pot. Stir in the beef stock. Add bay leaf for flavor.
Bring to a boil then reduce to a simmer. Cover and cook for 30 minutes until the meat is tender and falling apart.