# EDGAR Filing Document

**Accession Number:** 0001502287
**File Stem:** 0001193125-26-260317
**Filing Date:** 2026-6
**Character Count:** 15136
**Document Hash:** 3a79b67443dd5456dbcfff8bab04184b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-260317.hdr.sgml**: 20260605

**ACCESSION NUMBER**: 0001193125-26-260317

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260605

**DATE AS OF CHANGE**: 20260605

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** StepStone Private Infrastructure Fund
- **CENTRAL INDEX KEY:** 0001957892

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95744
- **FILM NUMBER:** 261070864

**BUSINESS ADDRESS:**
- **STREET 1:** 128 S. TRYON ST., SUITE 1600
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28202
- **BUSINESS PHONE:** 704-215-4300

**MAIL ADDRESS:**
- **STREET 1:** 128 S. TRYON ST., SUITE 1600
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28202
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** StepStone Group LP
- **CENTRAL INDEX KEY:** 0001502287

**ORGANIZATION NAME:**
- **EIN:** 331156466
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**BUSINESS ADDRESS:**
- **STREET 1:** 4225 EXECUTIVE SQUARE
- **STREET 2:** SUITE 1600
- **CITY:** LA JOLLA
- **STATE:** CA
- **ZIP:** 92037
- **BUSINESS PHONE:** 858-558-9700

**MAIL ADDRESS:**
- **STREET 1:** 4225 EXECUTIVE SQUARE
- **STREET 2:** SUITE 1600
- **CITY:** LA JOLLA
- **STATE:** CA
- **ZIP:** 92037

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** StepStone Group LLC
- **DATE OF NAME CHANGE:** 20100928

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**StepStone Private Infrastructure Fund**

*(Name of Issuer)*

**Class I, Class D, Class S, Class T and Class U Common Shares of Beneficial Interest**

*(Title of Class of Securities)*

**—**

*(CUSIP Number)*

**Jennifer Y. Ishiguro**<br>StepStone Group LP<br>4225 Executive Square, Suite 1600<br>La Jolla CA 90237<br>858-558-9700

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**08/17/2023**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **—** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**StepStone Group LP** | Name of reporting person<br>**StepStone Group LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**1007.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**1007.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**1007.00** | Aggregate amount beneficially owned by each reporting person<br>**1007.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**43.2%** | Percent of class represented by amount in Row (11)<br>**43.2%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** Cover pages are limited to one class of security. The cover page of this Schedule 13D filing relates to the Class D Shares outstanding as of the date of this filing. This Schedule 13D relates to the following classes of securities of StepStone Private Infrastructure Fund, a Delaware statutory trust registered under the Investment Company Act of 1940 (the "Issuer"): Class I Common Shares of Beneficial Interest (the "Class I Shares") with CUSIP 85914R403, Class D Common Shares of Beneficial Interest (the "Class D Shares") with CUSIP 85914R304, Class S Common Shares of Beneficial Interest (the "Class S Shares") with CUSIP 85914R205, Class T Common Shares of Beneficial Interest (the "Class T Shares") with CUSIP 85914R106, and Class U Common Shares of Beneficial Interest (the "Class U Shares") with CUSIP 85913Y102. As of August 17, 2023, StepStone Group LP directly owned 7,000 Class I Shares representing 100% of the Class I Shares outstanding as of such date; 1,000 Class D Shares representing 100% of the Class D Shares outstanding as of such date; 1,000 Class S Shares representing 100% of the Class S Shares outstanding as of such date; 1,000 Class T Shares representing 100% of the Class T Shares outstanding as of such date, and 0 Class U Shares, which were not effective and available for purchase until April 13, 2026. As of the date hereof, the Reporting Person directly holds 274,528.467 Class I Shares, representing 0.317% of the Class I Shares outstanding; 1,007.203 Class D Shares, representing 43.197% of the Class D Shares outstanding; and 2,014.252 Class U Shares, representing 100% of the outstanding Class U Shares outstanding. As of the date hereof, the Reporting Person no longer beneficially owns any Class S Shares or Class T Shares and is no longer the beneficial owner of more than 5% of the Class I Shares. This filing represents an exit filing for the Reporting Person with respect to the Class I Shares, Class S Shares and Class T Shares. This comment shall serve as full disclosure of the beneficial ownership of the securities of the Issuer. See item 5.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Class I, Class D, Class S, Class T and Class U Common Shares of Beneficial Interest

**(b) Name of Issuer:**
StepStone Private Infrastructure Fund

**(c) Address of Issuer's Principal Executive Offices:**
128 S. TRYON ST., SUITE 1600, Charlotte, NC, 28202

This Statement on Schedule 13D relates to shares of beneficial interest of StepStone Private Infrastructure Fund, a Delaware statutory trust registered under the Investment Company Act of 1940, as amended (the "Issuer"), designated as the Class I Common Shares of Beneficial Interest (the "Class I Shares"), Class D Common Shares of Beneficial Interest (the "Class D Shares"), Class S Common Shares of Beneficial Interest (the "Class S Shares") and Class T Common Shares of Beneficial Interest (the "Class T Shares") and Class U Common Shares of Beneficial Interest (the "Class U Shares" and collectively, the "Common Shares") of the Issuer.

**Item 4. Purpose of Transaction**

The information set forth in Items 3, 5 and 6 of this Schedule 13D is incorporated herein by reference.

All of the Common Shares were acquired for investment purposes. Depending on market conditions and other factors (including evaluation of the Issuer's businesses and prospects, availability of funds, alternative uses of funds and general economic conditions), the Reporting Person may from time to time acquire additional securities of the Issuer or dispose of all or a portion of its investment in the Issuer.

When permitted by applicable law, the Reporting Person may dispose of some or all of its Common Shares, from time to time, by tendering such Common Shares for repurchase by the Issuer, depending on price, market liquidity, developments affecting the Issuer, the Issuer's business and prospects, other investment and business opportunities available to the Reporting Person, general stock market and economic conditions, tax considerations and other factors deemed relevant. The Reporting Person intends to review its investment in the Issuer on an ongoing basis and, in the course of its review, may take actions (including through its affiliates) with respect to its investment or the Issuer, including communicating with the board of trustees of the Issuer (the "Board"), members of management or other security-holders of the Issuer, or other third parties from time to time, taking steps to implement a course of action, including, without limitation, engaging advisors, including legal, financial, regulatory, technical and/or industry advisors, to assist in any review, and evaluating strategic alternatives as they may become available.

StepStone Group Private Wealth LLC ("Adviser"), an investment adviser registered under the Investment Advisers Act of 1940, as amended, and a wholly-owned business of the Reporting Person, serves as the Issuer's investment adviser and is responsible for, among other things, making investment decisions for the Issuer's portfolio, subject to oversight by the Issuer's board of trustees (the "Board"). StepStone Group Real Assets LP ("Sub-Adviser"), serves as the Issuer's investment sub-adviser and is responsible for the day-to-day management of the Issuer's assets and activities including structuring, governance, distribution, reporting and oversight. All of the Issuer's officers and trustees, other than the Issuer's independent trustees, are employees of the Adviser or its affiliates. In such capacities, these individuals, together with the Adviser and Sub-Adviser may have influence over the corporate activities of the Issuer, including activities which may relate to items described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.

On May 24, 2023, the Adviser entered into a Sub-Advisory Agreement (the "Sub-Advisory Agreement") with the Sub-Adviser and the Issuer, pursuant to which the Sub-Adviser agreed to provide investment sub-advisory services to the Issuer. Under the Sub-Advisory Agreement, the Adviser employs the Sub-Adviser to assist the Adviser in identifying investment opportunities.

The Sub-Advisory Agreement provides that the Adviser will pay the Sub-Adviser 50% of the management fee received by the Adviser under the Investment Advisory Agreement between the Adviser and the Issuer each month. The management fee payable to the Adviser under the Investment Advisory Agreement with the Issuer is calculated and payable monthly in arrears at the annual rate of 1.60% of the Issuer's average daily net assets.

The Sub-Advisory Agreement may be terminated at any time, without the payment of any penalty, upon 120 days' written notice by the Sub-Adviser to the Issuer or, upon 60 days' notice if either the Board or the holders of a majority of the Issuer's outstanding voting securities determine that the Sub-Advisory Agreement with the Reporting Person should be terminated. The Sub-Advisory Agreement will automatically and immediately terminate in the event of its "assignment," as such term is defined under the 1940 Act.

Except as described herein, the Reporting Person has no present plans, proposals or intentions which would result in or relate to any of the matters described in Items 4(a)-(j) of the Instructions to Schedule 13D. However, as part of the ongoing evaluation of investment and investment alternatives, the Reporting Person may consider such matters and, subject to applicable law, may formulate a plan with respect to such matters, and, from time to time, may hold discussions with or make formal proposals to management or the Board or other third parties regarding such matters.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The information set forth in Items 3 and 6 hereof is hereby incorporated by reference into this Item 5.

As of August 17, 2023, StepStone Group LP directly owned 7,000 Class I Shares representing 100% of the Class I Shares outstanding as of such date; 1,000 Class D Shares representing 100% of the Class D Shares outstanding as of such date; 1,000 Class S Shares representing 100% of the Class S Shares outstanding as of such date; 1,000 Class T Shares representing 100% of the Class T Shares outstanding as of such date, and 0 Class U Shares.

As of the date hereof, the Reporting Person directly holds 274,528.467 Class I Shares, representing 0.317% of the Class I Shares outstanding; 1,007.203 Class D Shares, representing 43.197% of the Class D Shares outstanding; and 2,014.252 Class U Shares, representing 100% of the outstanding Class U Shares outstanding. As of the date hereof, the Reporting Person no longer beneficially owns any Class S Shares or Class T Shares and is no longer the beneficial owner of more than 5% of the Class I Shares. This filing represents an exit filing for the Reporting Person with respect to the Class I Shares, Class S Shares and Class T Shares.

**(b)**
See 5(a) above.

**(c)**
Information set forth under Item 3 of this Schedule 13D is incorporated by reference herein. Except as set forth in this Schedule 13D, the Reporting Person has not effected any transaction in the Common Shares in the past 60 days.

Reporting Person participates in the distribution reinvestment plan (the "DRIP") of the Issuer, through which holders of Class I, D, S and T Shares may choose to have cash dividends or cash distributions automatically reinvested in the Common Shares. On December 30, 2024, the Reporting Person acquired 824.392 Class I Shares at a price per share of $12.63, 3.024 Class D Shares at a price per share of $12.63, 3.024 Class S Shares at a price per share of $12.63 and 3.024 Class T Shares at a price per share of $12.63 pursuant to the Issuer's DRIP. On December 30, 2025, the Reporting Person acquired 1,136.784 Class I Shares at a price per share of $14.55, 8.404 Class S Shares at a price per share of $14.44, and 4.179 Class D Shares at a price per share of $14.52 pursuant to the Issuer's DRIP.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

The information set forth in Items 3, 4 and 5 hereof is hereby incorporated by reference into this Item 6.

Except for the matters described herein, the Reporting Person has no contract, arrangement, understanding or relationship (legal or otherwise) between the Reporting Person and any other person with respect to the securities of the Issuer.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** StepStone Group LP

**Signature:** /s/ Jennifer Y. Ishiguro

**Name/Title:** Jennifer Y. Ishiguro, Partner, Chief Legal Officer, and Secretary of the General Partner, StepStone Group Holdings LLC

**Date:** 06/05/2026