Stepstone Raises $1.2B for Maiden Infrastructure Co-Investment Fund
StepStone Group closed its oversubscribed debut infrastructure co-investment fund, StepStone Infrastructure Co-Investment Partners 2022 (SICP), with approximately $1.2 billion, and an additional $200 million in related separate accounts, marking the NY-based global private markets investor’s first commingled infrastructure fund.
SICP focuses on co-investing alongside global infrastructure sponsors, targeting core-plus and value-add opportunities in sectors driven by major trends including energy transition, digital connectivity, and AI.
StepStone, which has deployed an average of $13 billion annually over the past three years, leverages its team of over 80 infrastructure professionals to manage investments across primary fund investments, secondaries, and co-investments.
“There continues to be attractive investment opportunities in infrastructure, and we look forward to working closely with investors to find the optimal way for them to include this compelling asset class in their portfolios,” said James O’Leary, Partner and head of StepStone infrastructure & real assets.
As of September 30, 2024, the firm was responsible for approximately $682 billion of total capital, including $176 billion of assets under management.
Latham & Watkins LLP advised on the formation of the Fund.