Maples Group Advises StepStone on Cayman Islands Aspects of US$1.7 Billion Infrastructure Secondaries Fundraise

Maples and Calder, the Maples Group’s law firm, is pleased to have advised StepStone Group on the establishment and launch of the Cayman Islands vehicles within the Secondaries Infrastructure Fund structure and related separate accounts (“SSIF”), which secured US$1.7 billion in commitments.

SSIF represents StepStone’s first closed-ended commingled fund dedicated to infrastructure secondaries and underscores the continued growth and evolution of the infrastructure secondaries market. The fundraise provides investors with access to a diversified portfolio of infrastructure assets through a dedicated secondaries investment strategy managed by one of the world’s leading private markets investment firms.

Lawyers from the firm’s Funds & Investment Management team acted as Cayman Islands counsel to StepStone in connection with the Cayman Islands legal aspects of the transaction. The team included Partners Jeremy Bomford and Caroline Heal and Associate Ronan Murphy.

The team worked alongside Latham & Watkins LLP who acted as lead counsel to StepStone.

Reflecting on the successful closing, Jeremy said: “We are delighted to have supported StepStone on this significant fundraise. Its dedicated infrastructure secondaries fund highlights the continued demand for innovative investment solutions within the private markets space and further strengthens StepStone’s position as a leading global investment manager.”