We are global private markets specialists delivering tailored investment solutions, advisory services, and impactful, data driven insights to the world’s investors. Leveraging the power of our platform and our peerless intelligence across sectors, strategies, and geographies, we help identify the advantages and the answers our clients need to succeed.

The team you’ll join

StepStone Infrastructure and Real Assets (SIRA), established in 2014, is part of StepStone Group, specializing in private market investments. In 2024, SIRA managed US$103 billion in infrastructure and real assets, advising on or committing over US$11 billion across primaries, secondaries, and co-investments. The team includes 12 partners with over 20 years' of experience on average and over 75 professionals, providing expertise in infrastructure, agriculture, and natural resources across Australia, Europe, and North America.

About the role

StepStone seeks motivated undergraduates graduating between December 2026 and June 2027 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 to 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 2026 through June 2027
GPA of 3.5 or higher
Strong proficiency in Microsoft Word, PowerPoint and Excel
Excellent written and verbal communication skills

Click here to learn more about the intern experience.

Salary: $95,000

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.

#LI-Hybrid

At StepStone, we believe that our people are our most important asset and crucial to our success. We are an Equal Opportunity Employer that strives to create an environment that empowers our employees and allows them to be heard, regardless of title or tenure. Our organizational community features multiple Employment Resource Groups as well as mentorship programs to enhance the employee experience for all.

As an Equal Opportunity Employer, StepStone does not discriminate on the basis of race, creed, color, religion, sex, national origin, citizenship status, age, disability, marital status, sexual orientation, gender identity, gender expression, genetic information or any other characteristic protected by law.

Candidates must be at least 18 years old to apply.

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2026 Private Equity Infrastructure & Real Assets Summer Analyst