Fungal infections are a significant cause of HIV-related morbidity and mortality, particularly in the developing world, but also in countries with access to highly active antiretroviral therapy. New agents are essential to improve present efficacy rates, particularly in cases of drug resistance. Caspofungin is a new antifungal from the echinocandin class and is licensed for the treatment of candidal infections and as a second-line therapy for invasive aspergillosis. In this paper, the pharmacology, interaction and susceptibility data for this agent are reviewed and studies supporting the use of this agent in HIV-infected individuals are examined. Finally, evidence for the use of caspofungin for the treatment of Pneumocystis jiroveci pneumonia, an unlicensed indication, including a case series from our own unit is explored.