StepStone Group’s debut infrastructure secondaries raise has closed on double its target, with the total programme bringing in $1.7 billion. The firm's total infrastructure secondaries programme has secured $1.7bn, adding to a growing pool of capital available to deploy into the asset class.

The alternatives manager joins a number of large secondaries firms raising dedicated capital for the asset class, including Ardian, Blackstone Strategic Partners and Pantheon.

The firm's successful raise reflects strong investor demand for infrastructure secondaries, a niche but expanding segment of the secondaries market. This influx of capital is expected to fuel further deal activity in the space.