The firm's debut Vintage Infrastructure Partners fund closed in 2023 with $1 billion in capital commitments.
The firm held the final close of its debut infrastructure secondaries fund during the quarter, reaching its $1.5 billion hard cap and marking StepStone's largest inaugural fundraise to date.
The firm also expects to hold a first close for its tenth real estate secondaries strategy by year-end at more than 50% of its initial $2.5 billion target.
Its next private equity flagship is slated for early 2027, while parent company EQT is laying the groundwork for an infrastructure secondaries platform.
The London-based manager is reportedly expanding its secondaries platform following a record $6.4 billion flagship close in July.
After closing on $1.5 billion in commitments for Hamilton Lane Infrastructure Opportunities Fund II earlier this year, the firm is expected to launch a successor in late 2026 or early 2027.
The second vintage of the secondary strategy has reached half of its €500 million target, and the programme has completed five investments across GP- and LP-led transactions.
StepStone Secondaries Infrastructure Fund is approximately 50% deployed across LP-interest and GP-led transactions.
In July, the firm closed its debut program targeting the strategy with more than $5.5 billion in capital commitments.
The alternatives manager also gave updates on the fundraising status of several other secondaries strategies spanning private equity, GP-leds, venture capital, and infrastructure.
