Steve Cheng has left the infrastructure debt unit at GIP, ending a tenure that spanned 14 years. As a co-founder of the credit arm, Cheng played a central role in building the firm's debt capabilities. His exit marks a significant change in leadership for the specialized unit.

Cheng's departure is not an isolated event. He is among a group of senior leaders who have recently left the firm's credit division. This wave of exits suggests a period of transition within the team, as multiple high-level executives move on from their roles at the same time.

Losses of founding members often create gaps in institutional knowledge and relationship management. For GIP, the departure of a co-founder from the debt side disrupts the existing leadership structure. The firm now faces the challenge of stabilizing its senior ranks amid these recent departures.