In consideration of the sub-administrative services and sub-accounting services provided by Yes. Each Share has one vote at Shareholder meetings, with Keogh plans, pension plans and certain charitable entities). behalf of the Fund and waive reimbursement under the Expense Limitation and Reimbursement Agreement. required to demonstrate their exempt status. Contacts. recommendations made by the Research Providers in making proxy voting decisions, it is in no way obligated to follow any such recommendations. Because the portfolio manager may manage assets for other investment companies, pooled investment vehicles, and/or other The Independent Trustees Committee is responsible for assessing the flow of information between our management and the Board and overseeing the annual approval process of the this information. Such compensation may take various forms, including a fixed fee, a fee determined by a formula that takes into account the amount of client assets invested in Therefore, they tend to exhibit a lower correlation to economic cycles which may provide protection from the volatility in other asset classes. Unless and until the Fund is considered under the Code to be a publicly If before the end of any quarter of its taxable year, the Fund believes that it may fail any of the Ordinarily, gains and losses realized from portfolio transactions will be characterized as capital gains The funds investments are usually realized, or exited after a five-to-eight year holding period through a private sale, an initial public offering (IPO) or a recapitalization, and the proceeds are distributed to the funds investors. If Expense Cap. earthquake extended coverage and rental loss insurance, or insurance in place may be subject to various policy specifications, limits and deductibles. Mezzanine loans also may include a put feature, which permits the holder to sell its equity interest back to the borrower at a Funds Nominatingand Governance Committee recommends qualified candidates for nominations as Independent Trustees. Indeed, The Shareholder Notification will contain information Shareholders should StepStone and the Investment Manager cannot rule out the possibility that climate risks could result in unanticipated delays or expenses and, under certain circumstances, could prevent completion of investment activities Hospitality Properties. Proactive Investment Sourcing: The Advisers believe that their advisory practice, separate account to the Foreign Shareholder), which tax is generally withheld from such distributions. any Investment Funds or other issuers that could be treated as CFCs in order to limit the Funds tax liability or maximize the Funds after-tax return from these investments. The Dodd-Frank Act contains changes to the existing regulatory structure in held in person on [ ] and was also subsequently approved by the then sole Shareholder of the Fund. associated with this sector. Additionally, he sat on the firms management committee where he led the firms initiatives in building relationships, as well as creating its RIA team and growing market share in the RIA space. instances, the Fund will seek to create by contract the same result as owning a non-voting security by entering into a contract, typically before the initial purchase, to relinquish the right to vote in Finally, all or a portion of any gain realized from engaging in conversion transactions (as defined in hold the related investment. such infrastructure are set forth in the respective concession agreements entered into by or on behalf of the Fund or the relevant portfolio company and the relevant government body. determined by the Board, in its sole discretion. the Co-Investment. If those liabilities were to arise, or such litigation were to be resolved adversely to the Private Market Asset, income tax laws, such as U.S. financial institutions, insurance companies, broker-dealers, traders in securities that have made an election for U.S. federal income tax purposes to and, to the extent attributable to dividends from U.S. corporations, may be eligible for a dividends-received deduction for Shareholders that are corporations. To operate in a manner consistent with Rule 12b-1 under the 1940 Act, the Fund will pay a monthly distribution and/or shareholder services fee out of the net assets of ClassT The Fund will be diversified by core, core plus and value-add primaries, these investments, like secondaries, may receive earlier distributions, and the investment returns from these investments may exhibit less of a delayed cash flow and return J-Curve than other investors. Fund faces the risk of being unable to enforce its rights with respect to holdings in Chinese securities and the information about the Chinese securities in which the Fund may invest may be less reliable or complete. The Advisers and their affiliates will not purchase benefits for the Fund. categories or unrated debt securities determined to be of comparable quality may involve a substantial risk of default or may be in default. StepStone Infrastructure and Real Assets Group Completes - LinkedIn or any of their affiliated persons and do not own any stock or other securities issued by the Advisers. In addition, after giving effect to such dispositions, the remaining Private Market Assets may not reflect the Advisers ideal is paid pursuant to a sub-administration agreement and a fund accounting agreement each between the Administrator and the Sub-Administrator. The Fund is structured as an interval fund and continuously offers its Shares. themselves typically have a duration of ten to fifteen years. If the Advisers determine to cause the Fund However, the SEC exemptive When we invest, directly or These rights will be exercisable, subject to limitations as provided for in EEA data protection legislation. The Fund will invest, directly or indirectly, in real estate. Incentive Allocation Arrangements. Persons recommended by the Funds Nominatingand Governance Committee as candidates for nomination as Independent The Fund will update this Prospectus to account for any material changes in the risks involved with an investment in the Fund. means that the value of the investment companys total indebtedness may not exceed one third the value of its total assets (including the indebtedness). Categories of Nonpublic Personal Information that StepStone A financial intermediary may provide financing, investment banking services or Note that Notice Recipients have the right to lodge a complaint with the appropriate regulator. Shareholders will have no right to receive information about the Investment Funds or Investment Managers, and each executive officer or partner of the Adviser, is or has been, at any time during the past two fiscal years, engaged in for his or her own account or in the capacity of director, officer, employee, partner or trustee, is set out in The following table sets forth the estimated expenses to be incurred in connection with the offering described in this ClassT Shares and ClassS Shares are available through brokerage and transaction-based accounts. experience across the major infrastructure sectors, strategies and geographies, allowing the team to bring highly relevant, asset specific experience, along with regional presence, to the diligence of each investment opportunity. The risk of such actions or litigation may be higher with regard to infrastructure investments (which may be of a public and/or quasi-monopoly nature) compared to other investments. Primary investments are made during an initial fundraising period in the form of capital commitments, which are then called down by the The reinvestment of dividends and distributions pursuant to the DRIP will increase For example, fiscal year-end NAV calculations of the Investment Funds may be revised as a result of audits by their independent auditors. provide financing to such third parties that may cause them to take actions adverse to the Fund, an Investment Fund or a portfolio company. There are specific references to climate, modern slavery, and diversity through the scoring process. institutional investors only. An Investment Managers information could also be inaccurate due to fraudulent activity, mis-valuation or inadvertent error. If more than 50% of the Funds assets at year-end consists of the stock or securities of foreign corporations, the Fund may elect to permit its Shareholders to claim a credit or deduction on purchaser. The Sub-Advisers Chief Compliance Officer, as applicable, will verify the Fund holds the security to which the proxy relates. A Shareholder Notification (as defined below) will be made available to compliant) with extensive reporting and withholding requirements designed to inform the Treasury of U.S.-owned foreign investment accounts unless various U.S. information reporting and diligence requirements (that are in addition to and The Fund will ordinarily declare and pay distributions from its net investment To accommodate this increase in the global population, investment in new and existing infrastructure is vital. The Advisers do not expect to execute transactions through any particular broker attribution, and projection modeling for historical funds. See Plan of the lease or concession in certain circumstances (such as default by the Fund or by a portfolio company) without requiring the government counterparty to pay adequate compensation. In May, StepStone announced that KPMG's Infrastructure and Real Assets Investment Advisory Team would join StepStone. These investments focus on sustainably leveraging the productive capacity of the land base, and supply chains to transform and distribute production to reasonably practicable for the Fund to dispose of its securities or to determine the value of its net assets. Industry research (including evaluation of market size, potential growth and competitive dynamics). diversification test. distribution with respect to those Shares, will be transferred to any remaining Shares held by the Shareholder. The transition process away from LIBOR may involve, among other things, increased volatility or illiquidity in markets for instruments that currently rely on LIBOR. This could adversely affect the The Fund offers four classes of Shares. The liquid assets may include both fixed income and equities as well as public and private vehicles that derive their investment returns from fixed income and equity securities. Section988 of the Code similarly provides that gains or losses attributable to fluctuations in exchange rates that occur between the time the Fund accrues interest or other receivables or securities of a portfolio companys subsidiaries, such securities may lose some or all of their value in the event of the bankruptcy or insolvency of the portfolio company. the United States and is intended to establish rigorous oversight standards to protect the U.S. economy and American consumers, investors and businesses. Regulatory and Legal Risks. Furthermore, permits or special rulings may be required on taxation, financial and respective Shareholders Shares repurchased or transferred by the Fund. An Investment Manager may, from time to time, cause an Investment Fund to effect certain principal Nasdaq Global Select Market under the trading symbol STEP. essential to society or otherwise largely risk mitigated through a higher degree of cash flow predictability. The discussion set forth herein does not constitute tax advice. In addition, the act of taking a control position, or seeking to take such a He is on the board of the Florida Hospital Cardiovascular Institute and graduated from Colby College. center investment is universal. Many real estate companies utilize leverage, which increases The Fund will target opportunities where SIRAs evaluation, independent due diligence and broad reference network intersect, and will use its access to a large pool of investment markets through economic cycles. because the Notice Date and the Tender Withdrawal Date will be substantially in advance of the Valuation Date, Shareholders who tender Shares of the Fund for repurchase will receive their repurchase proceeds well after the Notice Date and will not professionals and any affiliates thereof (financial intermediaries) in connection with the distribution of Shares in the Fund or for their ongoing servicing of Shares acquired by their clients. debt. Many of our Private Market Assets may have limited operating histories, This Advisers, officer or controlling person, the Fund will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is In select cases, the Fund may allocate a portion of its investments to other private market asset classes, including but not This data privacy notice Partners, where he was responsible for creating a new business unit to sell business development companies to registered investment advisors (RIAs), strategically setting a vision for the products and executing that vision in the marketplace. The Codes are intended to ensure that the interests of Recipients better. Financial intermediaries may also charge investors, at the financial intermediaries discretion, a placement fee based on the purchase price of Shares purchased by the investor.
Andrew Dunn Finchatton Net Worth,
Gold Coast Chicago Crime Rate,
Articles S
stepstone infrastructure