Stepstone Group Real Assets LP

Registered investment adviser · La Jolla, CA · CRD #281695

Form ADV data as of 2026-09-01

Regulatory assets

$41.48 billion

Total accounts

Employees

Disclosure events

Firm details

Website: https://www.stepstonepw.com/
Telephone: 858-558-9700
SEC file number: 801-106844
Most recent Form ADV filing: 2026-07-30
SEC record: View this firm on the SEC's IAPD site

Disciplinary disclosures

This firm answered No to every Item 11 disciplinary question on its most recent Form ADV filing.

Assets and accounts

Provides continuous and regular supervisory or management services	Yes
Discretionary regulatory assets under management	$22.23 billion
Non-discretionary regulatory assets under management	$19.25 billion
Total regulatory assets under management	$41.48 billion
Discretionary accounts	30
Non-discretionary accounts	34
Total accounts	64
Regulatory assets under management attributable to non-U.S. persons	$32.63 billion

People

Total employees (excluding clerical)	94
Employees performing investment advisory functions (including research)	85
Employees who are registered representatives of a broker-dealer	0
Employees registered as investment adviser representatives with a state	0
Employees registered as IARs for another investment adviser	0
Employees who are licensed insurance agents	0
Firms or persons who solicit advisory clients on the firm's behalf	0

Custody

Has custody of client cash or bank accounts	Yes
Has custody of client securities	Yes
Client funds and securities held in the firm's custody	$35.03 billion
Clients for whom the firm has custody	60
A related person has custody of client cash or bank accounts	Yes
A related person has custody of client securities	Yes
Client funds and securities held in a related person's custody	$35.03 billion
Clients for whom a related person has custody	60
The firm acts as a qualified custodian	No
A related person acts as a qualified custodian	No
Number of persons acting as qualified custodians for the firm's clients	9

How the firm is compensated

A percentage of assets under managementFixed fees (other than subscription fees)Performance-based fees

Advisory services offered

Portfolio management for investment companiesPortfolio management for pooled investment vehiclesPortfolio management for businesses or institutional clientsPension consulting servicesSelection of other advisers (including private fund managers)

Other business activities

Commodity pool operator or commodity trading advisor

Affiliated related persons

Other investment adviser (including financial planners)Commodity pool operator or commodity trading advisorSponsor or syndicator of limited partnershipsSponsor, general partner, or managing member of pooled investment vehicles

Reported conflicts of interest

Form ADV Items 8 asks advisers to disclose arrangements that may create a conflict with client interests. This firm answered Yes to:

Recommends securities in which it has another proprietary interest

Client types

Type of client	Clients	Assets
Investment companies	1	Not reported
Pooled investment vehicles (other than investment companies and BDCs)	59	$34.93 billion
Pension and profit sharing plans (not the participants or government plans)	7	$4.27 billion
State or municipal government entities (including government pension plans)	2	$2.28 billion
Insurance companies	2	Not reported