2026 Private Equity Infrastructure & Real Assets Co-op Analyst
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 Co-op Analysts. This role offers a valuable opportunity to gain insights into the private equity industry. As a Co-op 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.
Note: this position requires you to be able to work full-time in our NYC office for six months from January 2026 through the end of June 2026, with the option to extend the internship to August 2026.
What you’ll do
As a Co-op 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
- Undergraduate student graduating anywhere from December 2026 through June 2027
- Must be able to work in-person for six months in our NYC office from January 2026 through the end of June 2026, with the option to extend the internship to August 2026
- 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.