Global private markets investment firm StepStone has raised over $1.4bn (€1.37bn) for its infrastructure co-investment and related separate accounts strategies.
The fund manager said the amount raised at close included a $1.2bn fundraise for the inaugural StepStone Infrastructure Co-Investment Partners 2022 (SICP) fund, which “significantly surpassing its target, thanks to strong support from a diverse group of limited partners from around the world”.
SICP targets core-plus and value-add opportunities, focusing on major secular trends such as the energy transition, digital connectivity growth and AI, StepStone said.
James O’Leary, partner and head of StepStone infrastructure and real assets, said: “The close of SICP marks a significant milestone as we expand the solutions we offer our clients. We would like to thank our investors for their trust and support.
“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.”
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