– StepStone Group announced the close of $1.7 billion in commitments for its StepStone Secondaries Infrastructure Fund (SSIF) and related separate accounts.
– The SSIF fund itself raised $1.5 billion, surpassing its target and reaching its hard cap.
– The fund focuses on infrastructure secondary investments, including acquiring fund LP interests and investing in GP-led secondary transactions.
– SSIF targets high-quality infrastructure funds and assets managed by experienced third-party infrastructure GPs.
– James O’Leary, Partner and Head of StepStone Infrastructure & Real Assets, emphasized the importance of long-term relationships with LPs seeking liquidity and GPs seeking partners for their funds and assets.
– StepStone Infrastructure & Real Assets has deployed an average of $13 billion annually over the past three yearsacross primary funds, secondaries and co-investments.
– Its multi-strategy approach gives StepStone early access to deal flow and information on infrastructure funds and assets before they reach the secondary market.
– SSIF focuses on less efficient segments of the market, particularly the middle market, where StepStone sees relationship and information advantages.
