StepStone Private Wealth Launches Infrastructure Fund
StepStone Private Infrastructure Fund (“STRUCTURE”) is an investor-friendly, evergreen private infrastructure fund for accredited investors and smaller institutions
NEW YORK, Aug. 08, 2023 (GLOBE NEWSWIRE) -- StepStone Private Wealth today announced the launch of the StepStone Private Infrastructure Fund, an evergreen interval fund that can be purchased on a daily basis. STRUCTURE has begun accepting subscriptions and expects to hold its initial closing in the third quarter of 2023.
STRUCTURE offers individual accredited investors and smaller institutions diversified exposure to an open-architecture portfolio of private infrastructure assets in a single investment. STRUCTURE seeks to make investments in assets that provide essential services to society such as transportation assets (toll roads, airports and mass transit), power (energy storage, transmission and distribution, and renewables) and data (data centers, cell towers, and fiber optics). STRUCTURE will invest via secondary purchases of individual operating companies and fund interests, direct co-investments, and modest commitments to new funds.
STRUCTURE will leverage StepStone’s infrastructure platform, scale, and relationships to gain access to historically top-tier managers and operating companies. StepStone will invest STRUCTURE’s capital alongside its institutional clients.
“In recent years, institutional investors have dramatically increased allocations to private infrastructure due to its defensive characteristics, inherent inflation protection opportunities, historically stable yield, and potential for reduced volatility. We believe that STRUCTURE is well-positioned to capitalize on major secular trends in digitization, decarbonization and demographics for the benefit of individual investors,” said Bob Long, CEO of StepStone Private Wealth. “StepStone has a global team of experienced infrastructure investment professionals and a strong market position, with over
An evergreen fund, STRUCTURE will raise capital daily while providing liquidity through quarterly redemptions of
About StepStone
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory, data and administrative services to its clients. As of June 30, 2023, StepStone was responsible for approximately
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1-203-682-8268
Important Information
Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained from StepStone Private Wealth at 1-704-215-4300 or by visiting stepstonepw.com. An investor should read the prospectus carefully before investing.
The Fund will not sell any Shares unless the Fund raises net offering proceeds of at least
An investment in the Fund involves risks. The Fund should be considered a speculative investment that entails substantial risks, and a prospective investor should invest in the Fund only if it can sustain a complete loss of its investment. Fund shares are illiquid and appropriate only as a long-term investment. There is no secondary market for the Fund’s Shares and the Fund expects that no secondary market will develop in the foreseeable future. Infrastructure companies may be subject to a variety of factors that may adversely affect their business, including economic slowdown, supply and demand volatility, increased competition, fluctuations in usage, expenses, and revenue, lack of fuel availability, energy conservation policies, technological obsolescence and changes in interest rates, regulations, or fiscal and monetary policy. There is no regular market for interest in infrastructure assets, which typically must be sold in privately negotiated transactions that can occur at a discount to the stated NAV. Investments may consist of loans to small and/or less well-established privately held companies that have reduced access to the capital markets, resulting in diminished capital resources and the ability to withstand financial distress. Please see the prospectus for details of these and other risks.
The Fund is distributed by UMB Distribution Services, LLC which is not affiliated with StepStone Group.