companies, as well as prominent endowments, foundations, family offices and private wealth clients. Please see StepStones website at www.stepstonegroup.com for the most up-to-date information. total annual operating expense ratio. StepStone Group Publishes 2022 ESG and TCFD Reports The Shareholder Notification will contain information Shareholders should weather conditions and changes in climate conditions could intensify the effects of any of these factors. By Funds investment will be revalued in a manner that the Advisers, in accordance with the Valuation Procedures, determine in good faith best approximates fair value. The Sub-Adviser will identify any conflicts that exist between the interests of the Sub-Adviser and the client by reviewing the relationship of the Sub-Adviser with the issuer of each security to determine if the Portfolio companies in which the Fund invests may also be subject to additional infrastructure Expenses borne by the Fund (and thus indirectly by Possible utilization of leverage, as limited by the requirements of the 1940 Act, may increase the Funds Management Fee of 1.50% on NAV in relation to an investment in the Fund, calculated monthly in arrears, at the rate of 0.1250% per month of the value of the Funds average daily net assets. of any distribution and at such other times as the Board shall determine (each, a Determination Date). gross income test) at least 90% of its gross income from (i)dividends, interest, payments with respect to certain securities loans, and gains from the sale or other disposition of stocks, securities or foreign currencies, or other As filed with the Securities and Exchange Commission on December23, 2022, REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940, (Exact name of Registrant as specified in Charter), Registrants Telephone Number, including Area Code: (704) 215-4300. The value of securities of companies in the real estate industry may go through cycles of relative under-performance and An Investment Managers information could also be inaccurate due to fraudulent activity, mis-valuation or inadvertent error. In certain circumstances, the provisions governing the tax treatment of straddles override or modify certain of the provisions discussed above. The Fund will be diversified by core, core plus and value-add infrastructure is a post-effective amendment to a registration statement filed pursuant to General Instruction B to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box . The 12-month period ending September30 of each year will be the taxable year of the Fund unless otherwise determined by the Fund. The dividend reinvestment plan is discussed later in the document. numerous inherent conflicts of interest, particularly where an investment opportunity has limited availability. Additionally, the Fund may make a special distribution annually. such measurements may not be as reliable as performance information for other investment products because, among other things: (i)there is often no market for underlying investments, (ii)Private Market Assets take years to achieve a Since its inception, StepStone has invested in Secondary Investments that were 70-75% deployed on average. There is no market exchange available for Shares of the Fund, thereby making them difficult to operations may often rely on governmental licenses, concessions, leases or contracts that are generally very complex and may result in disputes over interpretation or enforceability. For taxable years beginning in 2026 or later, miscellaneous itemized deductions generally are deductible by a U.S. Dilution. Related Risks in the Prospectus and does not, by itself, present a complete or accurate explanation of the matters disclosed. know the amount of such proceeds prior to making a decision to tender. The risks of hotel, motel and similar hospitality properties include, among A majority of the Section1256 Contracts remaining unexercised both at October31 of each calendar year as well as at the end of the Funds taxable year are treated as sold for their then fair market value, resulting in the recognition of gain or loss The Board also has an Independent Trustees In such cases, the Substantial requests for the Fund to repurchase Persons (as defined in the Code), Shareholders liable for the alternative minimum tax, persons holding Shares through partnerships or other pass-through entities, or persons that have a functional currency (as defined in Section985 of StepStone Private Infrastructure Fund Suburbs, medium-sized cities and even small towns are In addition, the act of taking a control position, or seeking to take such a proposals such as to change capitalization (e.g., increase the authorized number of common or preferred shares of stock (to the extent there are not disproportionate voting rights per preferred share)), the election of directors, setting the non-diversified investment company for purposes of the 1940 Act, which means that it is not subject to percentage limitations under the 1940 Act on the percentage of its assets that may be invested The Advisory Agreement is terminable by the Fund without penalty, on 60 days prior written notice: by the Board; by vote of a majority The Fund will not sell any Shares unless the Certain Shareholders specified in the Code and the Treasury regulations promulgated thereunder are exempt from backup withholding, but they may be will be provided by periodic repurchase offers for a portion of the Funds outstanding Shares. $75+ billion of Infrastructure Assets under advisement or assets under management. Related Risks Investment Related Risks Leverage Utilized by the Fund., Shares are sold to investors who represent that they are an accredited investor within the each investor attests that he or she meets the suitability standards as stated in the prospectus and/or investor application and agrees to be bound by all its terms.
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