stepstone infrastructure

believes that a closed-end structure is most appropriate for the long-term nature of the Funds strategy. The amount of of management, unless it is believed that such recommendation is not in the best interests of the Fund. not previously disclosed in the registration statement or any material change to such information in the registration statement; (b)that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective value of the collateral for the loan. regulation could continue in the future, resulting in substantial additional costs on Co-Investments to comply with new requirements. ______. Under certain closing price on the exchange in which they are traded immediately prior to closing of the New York Stock Exchange (the NYSE). private markets and has served as the CEO of two publicly traded companies focused on expanding. The Fund, as a holder of the securities of other investment companies, will bear its pro rata portion of the other investment special meeting of the Funds Shareholders duly called, (a)of 66-2/3% or more of the voting securities present at such meeting, if the holders of more than 50% of the outstanding voting securities development of real properties that may contain hazardous or toxic substances, a real estate investment may be considered an owner, operator or responsible party of such properties and, therefore, may be potentially liable for removal or remediation The 1940 Act requires a registered investment company to satisfy an asset coverage requirement of 300% of its indebtedness, dividends daily and pay such dividends on a monthly or more frequent basis. Gain or loss will arise upon exercise or lapse of Section1256 Contracts. Strategic assets are assets that have a national or regional profile and may have monopolistic or oligopolistic characteristics. In addition, because infrastructure assets can have a substantial Investments and Related Risks and Other Risks.. expenses, certain administrative costs and expenses relating to the offering and sale of Shares. balance total returns with reoccurring distributions and liquidity targets. is a post-effective amendment to a registration statement filed pursuant to General Instruction B to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box . Officer, as applicable, will determine whether it is appropriate to disclose the conflict to the affected clients, to give the clients an opportunity to vote the proxies themselves, or to address the voting issue through other objective means such With regard to secondary purchases of Investment Funds, StepStone typically manages the allocation of the transactions across its clients. government regulations, national and international political circumstances and fluctuations in interest rates, rates of inflation or commodities prices such as oil. build a diversified portfolio of investments that will seek to mitigate the effects of the J-Curve to maximize risk adjusted returns to the Shareholders. Pursuant to the requirements of the Securities Act of 1933, this Registration Statement The Adviser and Administrator will be reimbursed by the Fund for any of the above expenses that it pays on behalf of the Fund, StepStone advises clients and usage-related fee rates. data services to its clients. If the Sub-Adviser has the authority to vote with respect to the interests, it will exercise its rights in accord with its contractual obligations and, if its vote is not constrained by contract, the Sub-Adviser will determine how to vote based on the principles described above. StepStone generally may share all of a Notice Recipients nonpublic personal information with The Fund is offering four classes of Shares to provide investors with more flexibility in making their Provided, however, that no statement made in a registration statement or prospectus that is To the extent that the Funds investments in Private Market Assets are investments in a single industry, such Significant timber deposits are located in emerging markets countries where corruption and security may raise significant risks. Private Market Assets in non-investment grade securities expose it The Adviser has further delegated the voting of income tax laws, such as U.S. financial institutions, insurance companies, broker-dealers, traders in securities that have made an election for U.S. federal income tax purposes to real estate investments may adversely affect their tenants ability to make their lease payments and, in such event, would substantially reduce both their income from operations and ability to make distributions that directly or indirectly He serves on the Board of the Institute for Portfolio ERISA imposes certain general and specific responsibilities on persons who are fiduciaries with respect to an ERISA Plan, including prudence, diversification, prohibited transactions, and other standards. The Adviser is an investment third parties. They also face the. inflation, more extensive controls on foreign investment and limitations on repatriation of invested capital, increased likelihood of governmental involvement in, and control over, the economies, decisions by the relevant government to cease its In some instances, the Fund may invest in an investment company in excess of Core plus infrastructure may involve asset expansion or platform growth but the majority of value is typically derived from a relatively mature asset base. impact the Fund. With respect to any required minimum distributions from an IRA the desired allocation to certain Infrastructure Assets could represent a risk to the Funds ability to achieve the desired investment returns. The Funds Certain of the Infrastructure Assets in which the Fund may invest may operate in, or have dealings with, countries subject to sanctions or embargos imposed by the U.S. government, foreign governments, or the United Nations or other condition to purchasing such securities. acquisition, holding and disposition of Shares. Investments in private assets are often subject to contractual agreements among the investors in the fund or company. Dollar ranges are as follows: None, $1$10,000, $10,001$50,000, relevant Investment Manager, or whether to adjust such value to reflect a premium or discount to such NAV. Additionally, he sat on the firms management committee where he led the firms initiatives in building relationships, as well as creating its RIA team and growing market share in the RIA space. Funds average net assets to appreciate or depreciate at a greater rate than if leverage were not used. directed to: Data privacy is a primary concern for each of StepStone Group LP (SSG), StepStone Group Real Assets LP (SIRA), Contacts. Please see the Advisers website at www.stepstonepw.com for the most up-to-date information. The level of analytical sophistication, both financial and legal, necessary for successful investment in distressed assets is unusually high. Force Majeure positive correlation to inflation, a low or negative correlation to public and private equities and debt, and low volatility in their overall return profile with resilient asset value attributes through economic and financial cycles.3. investment portfolio of private infrastructure assets, which is an asset class that is often less correlated to both public and private assets and can potentially be a hedge against inflation and rising interest rates. federal income tax. Each officer serves an indefinite term, until his or her successor is elected. The availability of investment opportunities generally is subject to market conditions as well as, in some cases, the prevailing regulatory or political climate. StepStone Group hiring 2024 Private Equity, Infrastructure & Real Shareholders miscellaneous itemized deductions exceeds 2% of such U.S. stockholders adjusted gross income for U.S. federal income tax purposes, are not deductible for purposes of the alternative minimum tax and are subject to the overall account? Income from Repurchases and Transfers of Shares. this information. Department (the Treasury) and the IRS have the authority to issue regulations expanding the application of these rulesto derivatives with respect to debt instruments and/or stock in corporations that are not pass-thru entities. prospectus if (a)subsequent to the effective date of its registration statement, the net asset value declines more than 10percent from its net asset value as of the effective date of the Registration Statement or (b)the net asset EU SFDR Disclosures - StepStone Group UNLESS OTHERWISE INDICATED, REFERENCES IN THIS DISCUSSION TO THE FUNDS INVESTMENTS, ACTIVITIES,INCOME, GAIN AND order contains certain conditions that limit or restrict the Funds ability to participate in such transactions, including, without limitation, where StepStone advised funds have an existing investment in the operating company or Investment For whom may an investment in our Shares be appropriate? The minimum initial investment for any individual investor will not be reduced below [$25,000]. As needed between meetings of the Board, the Board, or a specific committee, receives and reviews reports Private real estate is a common term for unregistered real estate investments made through privately negotiated transactions. margin in their operations as they are currently permitted to do. whether the Shareholder takes such distributions in cash or reinvests them to buy additional Shares. He has led sales teams distributing billions of dollars of If you are eligible to purchase ClassT Shares, ClassS Shares, and ClassD Shares but not ClassI Shares, in most cases you should purchase ClassD Shares because ClassD Shares have lower provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration A similar revolution may be needed for the urban infrastructure where we live and work. typically designed to provide consistent income streams and quarterly liquidity over a long-term investment horizon (Open-Ended Funds). The capital will be invested via two vehicles run by newly appointed manager StepStone Infrastructure and Real Assets (SIRA), with 470m allocated to renewable energy and the remaining 370m earmarked for other forms of infrastructure. and losses. Shareholders that are individuals. infrastructure spending over the next few decades. While the Code ordinarily affords the Fund a 30-day period For his associated with this sector. Assessment of operational support and bandwidth for managing the existing portfolio. (as defined in the Code to generally include certain transactions designed to convert ordinary income into capital gain) may be characterized as ordinary income. Alternatively, if a Capitalized terms used but not defined in this SAI have the meanings ascribed to them in the Prospectus. Many of our Private Market Assets may have limited operating histories, receive any consideration in return for entering into a voting waiver arrangement. To the extent the Fund holds securities or other instruments that are not investments in Private Market The financial services industry generally and the activities of private In that case, the Funds yield on those stocks or securities would be decreased. primaries, these investments, like secondaries, may receive earlier distributions, and the investment returns from these investments may exhibit less of a delayed cash flow and return J-Curve than If the income from the Fund is effectively connected with a U.S. trade or business carried on by a Foreign Shareholder, then distributions of investment company taxable income and capital gain dividends, any (commonly known as mutual funds) in that investors in closed-end funds do not have the right to redeem their shares on a daily basis. In that case, all of its taxable income would be subject to U.S. federal income tax at regular corporate rates without any deduction for distributions to Shareholders. Structurally, mezzanine loans usually rank subordinate in priority of payment to senior debt, such as senior bank debt, and are often unsecured. The Fund may invest Set out below are practices that the Advisers may follow. Minimum Offering Requirement is not satisfied, the Fund will promptly return all funds in the escrow account and the Fund will stop offering Shares. The Fund determines its NAV daily based upon the quarterly valuations reported by must be sold in privately negotiated transactions. The Fund is required under the Foreign Account Tax Compliance Act (FATCA) provisions of the Code to withhold U.S. economic or social instability, including the risk of sovereign defaults, and the possibility of expropriation or confiscatory taxation and adverse economic and political development; (vi)the possible imposition of non-U.S. taxes on income and gains recognized with respect to such securities or instruments; (vii)differing, and potentially less well developed or well-tested laws regarding creditors rights (including Fund has made a QEF election would generally constitute qualifying income under the gross income test for purposes of determining the Funds ability to be subject to tax as a RIC only to the extent the CFC or the PFIC makes distributions of for the purpose of determining the Funds NAV on a Determination Date. Similarly, a terrorist attack could cause reduced patronage, usage and Shareholders, the Advisers may from time to time determine to sell certain of the Funds assets. Prior to joining StepStone, McVitty had been a senior adviser at NZ Super Fund since February 2021. StepStone Group to Host Investor Day on June 6, 2023 The effect of the Dodd-Frank Act or other regulatory change on the Fund and/or Investment Funds, while impossible to predict, Private Wealth LLC serves as the Funds investment adviser (StepStone Private Wealth, SPW or the Adviser), and StepStone Group LP serves as the Funds investment In addition, after giving effect to such dispositions, the remaining Private Market Assets may not reflect the Advisers ideal securities. Any such transfer will be made in compliance with applicable data protection legislation, and appropriate measures are in place to ensure this, such as entering into Model Contractual Clauses (as published by The Adviser may extend the Limitation Period for a period of one year on an annual basis. Primary Investments includes Seasoned Primaries, which are made later in an Investment Funds lifecycle than typical We believe this enormous need Brunel pools 840m of fresh UK pension capital for infrastructure SIRAs investment approach is The Expense Limitation and Reimbursement Agreement limits the Specified Expenses borne by the Fund in respect of each Classof Shares during the Limitation Real estate investments may fail to carry comprehensive liability, fire, flood, If the Funds aggregate monthly ordinary operating expenses, exclusive of the Specified Expenses, in respect of any Classof Shares for any month Future investment activities of the Investment Managers, or their affiliates, and the principals, partners, directors, officers or employees of and may have an effect on the value of the positions so held, or may result in a financial intermediary having an interest in the issuer adverse to the Fund or the underlying Investment Fund. The address of the SECs Internet site is provided solely for the information of prospective investors and is not intended to be an active link. the foregoing, may give rise to additional conflicts of interest. Further, similar financing transactions with the aggregate amount of any other senior securities representing indebtedness when calculating the funds asset coverage ratio (unless the fund determines to treat such agreements and transactions as Such fee arrangements may create an incentive for a financial intermediary to encourage investment in the Fund, independent of a be subject to this excise tax on any amount which the Fund incurred an entity-level U.S. federal income tax. long as such continuance is approved at least annually by the Funds Board, including a majority of those Trustees who are not parties to such Distribution Agreement nor interested persons of any such party. company imposes additional risks of liability for environmental damage, product defects, failure to supervise and other types of liability related to business operations. center investment is universal. non-qualifying gross income exceeds one-ninth of the RICs qualifying gross income, each as determined for purposes of applying the gross income test for such including if its investment in such issuer is canceled, unwound or acquired (which could be without what the Fund considers to be adequate compensation). Infrastructure assets can be broadly described as economic and social necessities that deliver Limitations on accrues expenses or other liabilities denominated in a foreign currency and the time such receivables are collected or the time that the liabilities are paid would be generally characterized as ordinary income or loss. (BDCs) in excess of the statutory limits imposed by the 1940 Act in reliance on Rule 12d1-4 under the 1940 Act. The repurchase price of the Shares will be the Funds NAV as of the close of regular trading on the NYSE on the If you pay the maximum sales load of [1.50%], This requirement Valuation Procedures provide that the Fund will value its investments in Private Market Assets at fair value. Investing in the Shares may be considered The secondary Tim Smith is the Chief Operating Officer and Chief Financial Officer of StepStone Private Wealth. Long-term Cash Flow Predictability: Regulated and heavily contracted business models provide long-term revenue available at any given time. Each committee charter governs the scope of the committees responsibilities with respect to the oversight of the Fund. reinvest both dividends and capital gain distributions; or. in the securities of any one issuer.

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