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STEPSTONE GROUP REAL ASSETS LP
CRD 281695File 801-106844
APPROVED
Custody
Filing as of Jul 30, 2026
Feed vintage Oct 1, 2026
Regulatory AUM
$41.48B
Top 10% of cohort (national)
Discretionary AUM
$22.23B
Non-discretionary $19.25B
Clients
71
64 accounts
Employees
94
Top 10% of cohort in CA
Identity & registration
ADV Item 1- Organization form
- Limited Partnership
- Firm type
- Registered
- SEC region
- LARO
- Registration date
- Nov 10, 2015
- Principal office
- 4225 EXECUTIVE SQUARE, SUITE 1600, LA JOLLA, CA, 92037
- Phone
- 858-558-9700
- Website
- https://www.stepstonepw.com/
Assets & accounts
ADV Item 5F- Total regulatory AUM
- $41.48B
- Discretionary AUM
- $22.23B
- Non-discretionary AUM
- $19.25B
- Discretionary accounts
- 30
- Non-discretionary accounts
- 34
- Total accounts
- 64
- AUM per client
- $584.3M
Clients by type
ADV Item 5D| Client type | Clients | AUM |
|---|---|---|
| Insurance companies | Fewer than 5 | Not reported |
| Investment companies | 1 | Not reported |
| Pooled investment vehicles | 59 | $34.93B |
| Pension and profit sharing plans | 7 | $4.27B |
| State or municipal government entities | Fewer than 5 | $2.28B |
Compensation & activities
ADV Items 5E, 5GCompensation
- Fixed fees
- Performance-based fees
- A percentage of assets under your management
Advisory activities
- Selection of other advisers
- Portfolio management for other
- Portfolio management for businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
Custody
ADV Item 9- Firm Custody Cash
- Yes
- Firm Custody Assets
- Yes
- Firm Custody Clients
- Yes
- Firm Custody Securities
- Yes
- Related Person Custody Cash
- No
- Related Person Custody Assets
- No
- Related Person Custody Clients
- No
- Related Person Custody Securities
- Yes
Disclosure events
ADV Item 11This firm answered no to every Item 11 disclosure question in this filing.
Filed changes
| Date | Field | From | To | Change |
|---|---|---|---|---|
| Jul 1, 2026 | Employees | 97 | 94 | decreased by3 |
| Jul 1, 2026 | Clients | 64 | 71 | increased by7 |
| Jul 1, 2026 | AUM | $33,101,153,253 | $41,482,551,889 | increased by$8,381,398,636 |
| Jul 1, 2026 | Accounts | 53 | 64 | increased by11 |
| Dec 1, 2025 vs May 1, 2025 | Employees | 84 | 97 | increased by13 |
| Dec 1, 2025 vs May 1, 2025 | Clients | 54 | 64 | increased by10 |
| Dec 1, 2025 vs May 1, 2025 | AUM | $26,336,073,645 | $33,101,153,253 | increased by$6,765,079,608 |
| Dec 1, 2025 vs May 1, 2025 | Accounts | 41 | 53 | increased by12 |
| May 1, 2025 vs Oct 1, 2022 | Employees | 61 | 84 | increased by23 |
| May 1, 2025 vs Oct 1, 2022 | Clients | 37 | 54 | increased by17 |
| May 1, 2025 vs Oct 1, 2022 | AUM | $23,620,620,334 | $26,336,073,645 | increased by$2,715,453,311 |
| May 1, 2025 vs Oct 1, 2022 | Accounts | 28 | 41 | increased by13 |
| Jul 1, 2022 | Employees | 49 | 61 | increased by12 |
| Jul 1, 2022 | Clients | 34 | 37 | increased by3 |
| Jul 1, 2022 | AUM | $16,620,770,981 | $23,620,620,334 | increased by$6,999,849,353 |
On Form 5500, an adviser usually appears as a plan service provider (Schedule C), not the plan sponsor.
See plans that list “STEPSTONE GROUP” as a service provider on 5500mcp →Matched by name only — Form ADV and Form 5500 share no identifier, and names are searched loosely (“STEPSTONE GROUP” may also match similarly-named firms). Confirm identity against each filing.
Every value above is reproduced from this firm's Form ADV filing. Fields the firm left blank are shown as “Not reported” rather than filled in from other sources.