2024 Private Equity – Infrastructure & Real Assets Co-Op

The Team

StepStone Infrastructure and Real Assets ("SIRA") was formed in 2014 and is the infrastructure and real assets business group of StepStone Group, which focuses on private markets investments. SIRA oversees US$75 billion of infrastructure and real assets allocations and in 2022 advised on or committed more than US$14 billion of capital across primaries, secondaries and co-investments. Led by 11 partners with an average of 20 years of infrastructure and real assets experience and a team of over 60 dedicated professionals, SIRA provides clients with an “on-the-ground” presence in Australia, Europe, the United Kingdom and North America with deep experience in infrastructure, energy, agriculture and natural resources. 

Role Overview

StepStone is currently seeking candidates with excellent quantitative, qualitative and interpersonal skills for a summer analyst position on StepStone’s Infrastructure and Real Assets Team. StepStone offers Summer Analysts a unique opportunity to obtain valuable work experience within the private equity industry. Through analysis of infrastructure and real asset underlying sectors and sub-sectors such as transportation, telecommunications, utilities, power, energy, logistics, renewables, social, sustainability and impact investing, Summer Analysts gain exposure to a wide array of companies, assets and capital structures, and become familiar with a wide variety of infrastructure investments.

The Summer Analysts will work in a team environment to target and perform due diligence on opportunities across SIRA’s investment verticals including: infrastructure fund investments, co-investment transactions and secondaries transactions. The intern will have the opportunity to prepare and present recommendations, with the investment team, to SIRA’s Investment Committee.

StepStone prides itself on the Firm’s collegial atmosphere, encouraging team-building initiatives and a collaborative approach to accomplishing projects. The ideal candidate will possess strong academic achievement, a strong work ethic, high quality writing skills, a solid grasp of basic quantitative methods, and a demonstrated interest and/or background in the investment industry.

The role is expected to start in January 2024 for a period of 6 months.

Essential Internship Functions                                                                                                                      

• Analyze and conduct diligence on co-investment opportunities, primary and secondary transactions in private equity, specifically in infrastructure energy, agriculture, and natural resources sectors
• Perform financial modelling and analytical tasks – create and/or modify financial models, analyze financial statements and financial forecasts, prepare valuation bridges, run discounted cash flow analysis, comparable public companies, and create sensitivity / scenario analysis
• Support senior investment professionals on managing and tracking the inflow of investment opportunities
• Help construct an argument regarding a decision to invest or not invest, and communicate that argument efficiently in written materials (in MS Word and Powerpoint form)
• Form an independent opinion about the attractiveness of a sector or investment opportunity by using creativity to analyze data; clearly articulate findings
• Assess marketing and supporting materials of prospective fund managers to identify key value drivers and important areas for further investigation
• Interpret financial analyses prepared by target fund managers, including investment track records and financial statement analysis; prepare valuation analyses on private companies or privately-owned assets using a variety of methods including discounted cash flow and transaction comparables
• Analyze and monitor the performance of the firm’s existing fund managers and underlying portfolio companies; participate in meetings with senior executives of target fund managers
• Perform market research using publicly available information and proprietary databases to identify, quantify and analyze trends across a variety of sectors
• Interact with, and support, team members in delivering on client mandates and materials as required

Qualifications

• Graduate in December 2024 or Spring 2025
• GPA of 3.5 or above
• High proficiency in MS Word, Power Point and Excel
• Excellent written and verbal communication skills
• Strong, demonstrable analytical capabilities, including strong quantitative/modeling skills
• Team player and strong work ethic

Other Attributes:

• High level of integrity
• Demonstrate a commitment to StepStone’s firm values around prioritization of clients, confidentiality and respect for others
• Commitment to learning
• Promote and demonstrate a positive, team-oriented attitude
• Flexibility – StepStone is a dynamic and entrepreneurial organization; all professionals are expected to perform multiple functions

Click here to learn more about the intern experience.

Salary Range: $75,000 - 95,000.

The salary range is an estimate of pay for this position.  Actual pay may vary depending on job-related factors that can include location, education, skill, and experience.  The salary range does not include any benefits or other forms of possible compensation that may be available to employees.