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 June of 2026, SIRA managed US$132 billion in infrastructure and real assets, advising on or committing over US$13 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 candidates with strong quantitative, qualitative, and interpersonal skills for a co-op opportunity with its Infrastructure and Real Assets Team. This role offers you valuable experience in private equity infrastructure. As a Co-op Analyst, you will gain exposure to diverse companies, assets, capital structures, and become acquainted with various infrastructure funds, managers, and transactions. What you’ll do As a Co-op Analyst, you will work in a team to conduct due diligence on SIRA’s investment opportunities in infrastructure funds, co-investments, and secondary transactions. You will analyze sectors like transportation, telecommunications, utilities, power, energy, logistics, renewables, social impact, and sustainability. You'll also prepare and present recommendations to SIRA’s Investment Committee. Key responsibilities - For co-investments transactions: - Conduct market research to identify and analyze trends across various sectors using public information and databases - Form independent opinions on sector or investment attractiveness by analyzing data creatively; articulate findings clearly - Prepare valuation analyses of private companies or assets using methods like discounted cash flow and transaction comparables - Assist in creating and adjusting Excel-based financial models for investments - Construct and efficiently communicate investment recommendations in MS Word and PowerPoint - For fund investments and secondary transactions: - Review financial analyses from target fund managers, including investment track records and financial statement analysis - Support the development and adjustment of Excel-based financial models related to funds - Evaluate marketing and supporting materials of prospective fund managers to identify key value drivers and areas for further investigation - General research and asset management: - Assist senior researchers in managing and tracking investment opportunities - Evaluate and monitor current fund managers and portfolio company performance; attend meetings with target fund managers' executives - Internship project What we’re looking for - Must be able to work legally in Canada without requiring visa sponsorship now or in the future - Must be able to work full-time hours, in-person in our Toronto office starting as early as January 2027 or May 2027 for 6-8 months - Undergraduate, Masters or MBA student graduating anywhere from September 2027 through June 2028 - 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 internship is a great opportunity to gain practical experience and develop critical skills that will help you launch a successful career in private markets. 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. Developing People at StepStone

2027 Private Equity Infrastructure & Real Assets Co-op Analyst

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