StepStone launches new infra platform

The StepStone Group, an asset management and advisory firm, has launched an infrastructure and real assets unit after incorporating a team of more than 20 infrastructure professionals from KPMG.

“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 transition 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 freshly established team. Simon Beer, who until recently was a senior member of the value creation unit at the 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. Formerly a development director at Spanish construction company Ferrovial, Fuentes has significant experience in industrial projects. As senior advisor at SIRA, he will be responsible for supporting its activities in Europe, with a particular focus on working with major industrial partners in the region.

“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.