StepStone launches real assets platform

The global investment firm's infrastructure and real assets group will provide primary and secondaries fund advice.

StepStone, an asset management and advisory firm, has launched an infrastructure and real assets unit that will provide primary and secondaries fund advice after incorporating a team of more than 20 infrastructure professionals from KPMG.

The unit will also focus on co-investments, asset management and transaction advisory services.

“We are pleased at how quickly and seamlessly the SIRA team has become integrated into the firm and our existing infrastructure and real assets team, and we thank KPMG for their ongoing support of that transition,” StepStone chief executive Monte Brem said in a statement.

The KPMG team, led by James O’Leary, made the move to the New York-based firm in May. It now operates out of Sydney, Perth, Toronto, London, LaJolla and New York.

StepStone also announced two new additions to the team. Simon Beer, who until recently was a senior member of the value-creation unit at Ontario Teachers’ Pension Plan, has been named head of asset management. In his new role, Beer will be responsible for the oversight of asset value creation initiatives for the SIRA platform.

Enrique Fuentes, who has 25 years of experience in private infrastructure financing, development and strategy, has joined StepStone as a senior advisor.

“Building an exceptional infrastructure and real assets investment platform with global coverage has been a top priority for StepStone, and the addition of James and his team allows us to provide the full scope of solutions, tailored to the specific needs of each institution, as our clients seek to balance their portfolios by investing in quality infrastructure and real assets opportunities,” Brem said.

StepStone is in market with StepStone Secondary Opportunities Fund III and is seeking $750 million for the vehicle, as Secondaries Investor previously reported.