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Stepstone Group

SEC-registered adviser since 2007La Jolla, CACRD 143635

$107.8B
AUM
561
Clients
See fees
Fee
209
Advisory staff

From Form ADV filed 30 July 2026 · data retrieved 15 October 2026SEC record

Stepstone Group is an investment adviser headquartered in La Jolla, California, and registered with the SEC since 2007. Its clients include pooled investment vehicles, high-net-worth individuals and banking or thrift institutions.

Its services include portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting and selecting other managers. Fee arrangements include a percentage of assets under management, fixed fees and performance-based fees. Stepstone Group Inc. owns 50% to 75% of Stepstone Group, and Scott Hart is its CEO.

Clients

Stepstone Group serves 561 clients, 413 of them pooled investment vehicles. The average client has about $192 million with the firm, and high-net-worth clients hold 0% of its $107.8 billion in assets.

Regulatory assets by client type
  • Pooled investment vehicles413 clients100%
Show client breakdown
High-net-worth individuals
Clients
14
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0
Banking or thrift institutions
Clients
9
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0
Investment companies
Clients
18
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0
Pooled investment vehicles
Clients
413
Regulatory AUM
$107,824,428,426
Share
100.0%
Avg. per client
$261.1M
Pension and profit-sharing plans
Clients
20
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0
Charitable organizations
Clients
19
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0
State or municipal government entities
Clients
20
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0
Other investment advisers
Clients
28
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0
Insurance companies
Clients
13
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0
Sovereign wealth funds and foreign official institutions
Clients
4
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0
Corporations and other businesses
Clients
3
Regulatory AUM
$0
Share
0.0%
Avg. per client
$0

Total

Clients
561
Regulatory AUM
$107,824,428,426
Share
100%
Avg. per client
$192.2M

What it does

Stepstone Group provides portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting and selecting other managers. It is paid through a percentage of assets, fixed fees and performance-based fees.

Stepstone Group advises 409 private funds.

88.4% of assets ($95.35B across 365 accounts) are managed with discretion; $12.48B across 47 accounts are not. 37% of clients are outside the U.S., and 149 clients received advice without assets under management last fiscal year.

Custodians

Stepstone Group has custody of $80.42B for 412 clients.

Managed account assets by custodian
  • All other custodians$107.82B100%

Ownership and leadership

Stepstone Group Inc. owns 50% to 75% of Stepstone Group, and Scott Hart is its CEO.

Who owns the firm
Stepstone Group LP· the adviser

  • Stepstone Group Inc.

    Control person · since September 2020

    Owns 50% to 75% of Stepstone Group LP

Leadership

  • Scott Hart
    Partner, Chief Executive Officer
  • Jason Ment
    Partner, President and Co-Chief Operating Officer
  • David Park
    Partner, Chief Financial Officer
  • Jose Fernandez
    Co-Chief Operating Officer, Partner
  • Bendukai Bouey
    Chief Compliance Officer
  • Jennifer Ishiguro
    Partner, Chief Legal Officer
  • Thomas Keck
    Partner, Head of Portfolio Management

Staff

  • 978 employees
  • 209 in advisory functions

Reported holdings

Stepstone Group’s reported 13F holdings total $2.16B across 23 positions, and the ten largest make up 99.2% of it.

$2.16B
Reported 13F value
23
Positions
99.2%
In the 10 largest
+940.2%
Value vs. prior quarter
Ten largest positions, share of reported value
  1. Space Exploration Techn Corp. · Class A Com Stk86.6%
  2. Stubhub Hldgs Inc. · CL A4.5%
  3. Cerebras Systems Inc. · Com CL A3.5%
  4. Xanadu Quantum Technolo Ltd · Sub Vtg B1.9%
  5. Teamshares Inc.0.8%
  6. Onkure Therapeutics Inc. · Com CL A0.6%
  7. Karman Hldgs Inc.0.6%
  8. Kodiak AI Inc.0.3%
  9. Entrada Therapeutics Inc.0.3%
  10. Eikon Therapeutics Inc.0.2%

Together, the ten largest are 99.2% of reported value.

The 23 largest positions and quarterly changesQuarter ended 30 June 2026 · filed 13 August 2026

A 13F covers only exchange-traded long positions the firm holds with discretion, so this $2.16B is not its $107.82B in regulatory assets and does not represent any individual client's portfolio.

Fees

Stepstone Group is paid through a percentage of assets under management, fixed fees (other than subscription fees) and performance-based fees.

Stepstone Group’s fee rates are not included in this profile. Find its brochure on the SEC’s site.

Offices and registrations

Besides its headquarters, Stepstone Group has 9 offices, with 4 listed addresses across 3 states.

Listed office addresses by state

California · 2 listed addresses

  • 4225 Executive Square, Suite 1600, La JollaHQ
  • 228 Hamilton Avenue, 3rd Floor, Palo Alto

Registration details

Legal name
Stepstone Group LP
Headquarters
4225 Executive Square, Suite 1600, La Jolla, CA 92037
Phone
858-558-9700
Website
www.stepstonegroup.com
SEC file
801-68079
Structure
Delaware limited partnership
Fiscal year end
March

This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov

Common questions

How many clients does Stepstone Group have?

Stepstone Group has 561 clients and manages $107.8 billion for them, as of July 2026. They include 413 pooled investment vehicles, 28 other investment advisers and 20 pension and profit-sharing plans.

Source: Form ADV Part 1A, Items 5.D and 5.F, filed 30 July 2026

What services does Stepstone Group offer?

Stepstone Group provides portfolio management for investment companies, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting and selecting other managers.

Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file

How many financial advisors does Stepstone Group have?

Stepstone Group has 0 investment adviser representatives registered with state securities authorities, out of 978 employees, and 209 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.

Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file

Who owns Stepstone Group?

Stepstone Group’s direct owner is Stepstone Group Inc. (50% to 75%).

Source: Form ADV Part 1A, Schedules A and B, filed 30 July 2026

How does Stepstone Group get paid?

Stepstone Group is paid through a percentage of assets under management, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.

Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file

Sources

  1. Form ADV Part 1A, amendment filed 30 July 2026. Items 1, 5, 9, 11 and Schedules A, B and D.
  2. IAPD firm record, CRD 143635.
  3. Form 13F-HR, filed 13 August 2026 for the quarter ended 30 June 2026.

Retrieved 15 October 2026. All are published by the SEC and may have been amended since.

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This profile is compiled from public regulatory filings and is provided for informational purposes only. Niva Wealth is not affiliated with Stepstone Group LP and makes no representation about the quality of its services. Figures reflect the filing dates shown and may have changed. Ownership percentages are the bands reported to the SEC, not exact figures.