2027 Private Equity Infrastructure & Real Assets Summer Analyst

Application deadline: Rolling basis

The team you’ll join

StepStone Infrastructure and Real Assets (SIRA), established in 2014, is part of StepStone Group, specializing in private market investments across infrastructure and real assets. As of December 31, 2025, SIRA had responsibility for approximately US$132 billion in capital, deploying an average of over US$13 billion annually across primaries, secondaries, and co-investments. The global team comprises more than 75 investment professionals, offering deep expertise across infrastructure and real assets sub-sectors, including energy, transport, natural capital, agriculture, and other essential assets, with a presence across North America, Europe, and Australia.

About the role

StepStone seeks motivated undergraduates graduating between December 2027 and June 2028 to join our SIRA team as Summer Analysts. This role offers a valuable opportunity to gain insights into the private equity industry. As a Summer Analyst, you will learn about various sectors such as transportation, telecommunications, utilities, power, energy, logistics, renewables, social projects, sustainability, and impact investing. Additionally, you will be exposed to diverse companies, assets, and capital structures, providing you with a comprehensive understanding of infrastructure investments.

What you’ll do

As a Summer Analyst, you’ll work collaboratively to conduct due diligence on opportunities within SIRA's investment verticals, including infrastructure fund investments, co-investments, and secondaries. You will also prepare and present recommendations with the investment team for SIRA's Investment Committee.

Key responsibilities

• Conduct thorough analysis and due diligence on co-investment opportunities, as well as primary and secondary transactions in private equity, specifically within the infrastructure, agriculture, and natural resources sectors
• Perform financial modeling and analytical tasks including creating or modifying financial models, analyzing financial statements and forecasts, preparing valuation bridges, running discounted cash flow analyses, comparing public companies, and conducting sensitivity/scenario analyses
• Develop and present a well-constructed argument regarding investment decisions, effectively communicating these arguments in written materials such as Microsoft Word documents and PowerPoint presentations
• Interpret financial analyses prepared by target fund managers, including assessment of investment track records and financial statements; conduct valuation analyses on private companies or privately-owned assets using various methods, including discounted cash flow and transaction comparables
• Perform market research utilizing publicly available information and proprietary databases to identify, quantify, and analyze trends across various sectors

What we’re looking for

• Must be able to work legally in the U.S. without requiring visa sponsorship now or in the future
• Undergraduate student graduating anywhere from December 2027 through June 2028
• GPA of 3.5 or higher
• Strong proficiency in Microsoft Word, PowerPoint and Excel
• Excellent written and verbal communication skills
• Demonstrable analytical capabilities, including strong quantitative/modeling skills
• Collaborative mindset with a proactive and team-oriented approach

Why join us?

At StepStone, we foster a supportive and inclusive team culture where collaboration and learning are the core of what we do. Our collegial atmosphere encourages teamwork, mentorship, and professional development. This summer internship is a great opportunity to gain practical experience and develop critical skills that will help you launch a successful career in private markets.

Click here to learn more about the intern experience.

Application deadline: Rolling basis

Salary: $95,000 annually

The salary is an estimate of pay for this position.  Actual pay may vary depending on job-related factors that can include location, education, skill, and experience.  The salary does not include any benefits or other forms of possible compensation that may be available to employees.

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