StepStone Group, stepstone test, Securian - Wed, 11/19/2025 - 06:42

2026 Infrastructure Fundraising: The Rise

Infrastructure fundraising remained sluggish in 2024, with the average time in the market increasing from 22 months to 31 months.
Distribution ratios must rise for fundraising to return to historic trends – a shift that will likely occur as underlying assets mature and are realized.
We believe the rise of "Infrastructure 3.0," where we expect to see an increasing number of emerging managers, is underway and will broaden the infrastructure investment ecosystem.

Infrastructure fundraising remained sluggish in 2024, with the average time in the market increasing from 22 months to 31 months.
Distribution ratios must rise for fundraising to return to historic trends – a shift that will likely occur as underlying assets mature and are realized.
We believe the rise of "Infrastructure 3.0," where we expect to see an increasing number of emerging managers, is underway and will broaden the infrastructure investment ec
osystem.

We believe the rise of "Infrastructure 3.0," where we expect to see an increasing number of emerging managers, is underway and will broaden the infrastructure investment ec

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StepStone Group

StepStone Group (Nasdaq: STEP) is a global private markets investment firm focused on providing customized investment solutions and advisory and data services to our clients. StepStone’s clients include some of the world’s largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as prominent endowments, foundations, family offices and private wealth clients, which include high-net-worth and mass affluent individuals. StepStone partners with its clients to develop and build private markets portfolios designed to meet their specific objectives across the private equity, infrastructure, private debt and real estate asset classes.

W. Casey Gildea
Managing Director casey.gildea@stepstonegroup.com
+1.212.351.6114

277 Park Ave, 45th Floor
New York, NY 10172

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