The San Diego City Employees’ Retirement System (SDCERS) is mulling a $15 million investment in the StepStone Infrastructure Fund (SSIF) within the StepStone Infrastructure separately managed account (SMA) for SDCERS’ infrastructure portfolio.
An investment meeting agenda from July 9 notes Callan and SDCERS staff recommended the approval of the commitment to the SSIF, a closed-end, commingled fund focused on infrastructure secondary investments globally.
The fund’s investment strategy, which has a core-plus and value-add risk profile, focuses on acquiring fund investor interests and investing in GP-led secondary funds to build a diversified portfolio of secondary investments. The $15 million accounts for approximately 7.6 percent of the StepStone Infrastructure SMA. SSIF will seek to build a portfolio of secondary opportunities within the communications, renewables, energy and energy transition, transport, and social infrastructure sectors. Investments will mainl
