Investment adviser · CRD 281695

STEPSTONE GROUP REAL ASSETS LP

Investment adviser filing (IA)

LA JOLLA, CA, United States · Form ADV filed Jul 30, 2026

Regulatory AUM: $41.5B
Client accounts: 64
Employees: 94
Advisory professionals: 85

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
Pooled investment vehicles	59	$34,928,952,169	84.2%
Retirement plans	7	$4,273,803,944	10.3%
Government entities	Fewer than 5	$2,279,795,776	5.5%
Investment companies	1	Not reported	Not reported
Insurance companies	Fewer than 5	Not reported	Not reported

Filing source

Form ADV 2122465 · Jul 30, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

50+ Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

Browse the first 49 funds across 7 pages.

STEPSTONE G INFRASTRUCTURE OPPORTUNITIES, LPHedge Fund · Last reported Jul 30, 2026$5.7BGross asset value

Fund administrator APEX GROUP NEW YORK, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP NEW YORK, New York, United States

Custodian FIRST CITIZENS BANK AND TRUST CO. SANTA CLARA, California, United States Related to adviser: No

Custodian JP MORGAN NEW YORK, New York, United States Related to adviser: No

Custodian MIZUHO BANK JERSEY, New Jersey, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

ERNST & YOUNG LLP
PCAOB 42

FIRST CITIZENS BANK AND TRUST CO.
LEI L9VVX1KT5TFTKS0MLF66

Fund details & source

Fund ID: 805-8920784806
Reported beneficial owners: 3
Minimum commitment: $4.5B

Form ADV 2122465 · Jul 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

TORANOMON INFRASTRUCTURE 1, L.P.Private Equity Fund · Last reported Jul 30, 2026$3.71BGross asset value

Fund administrator APEX GROUP NEW YORK, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP NEW YORK, New York, United States

Custodian FIRST CITIZENS BANK AND TRUST CO. RALEIGH, North Carolina, United States Related to adviser: No

Custodian JP MORGAN NEW YORK, New York, United States Related to adviser: No

Custodian MIZUHO BANK, LTD. JERSEY CITY, New Jersey, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

ERNST & YOUNG LLP
PCAOB 42

FIRST CITIZENS BANK AND TRUST CO.
LEI L9VVX1KT5TFTKS0MLF66

Fund details & source

Fund ID: 805-2104883898
Reported beneficial owners: 2
Minimum commitment: $3.3B

Form ADV 2122465 · Jul 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

STEPSTONE V INFRASTRUCTURE TACTICAL OPPORTUNITIES FUND SCA SICAV-RAIFPrivate Equity Fund · Last reported Jul 30, 2026$2.31BGross asset value

Fund administrator APEX GROUP NEW YORK, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP NEW YORK, New York, United States

Custodian JP MORGAN NEW YORK, New York, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

ERNST & YOUNG LLP
PCAOB 42

Fund details & source

Fund ID: 805-2416836182
Reported beneficial owners: 2
Minimum commitment: $757M

Form ADV 2122465 · Jul 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

STEPSTONE K INFRASTRUCTURE OPPORTUNITIES FUND III, L.P.Private Equity Fund · Last reported Jul 30, 2026$2.31BGross asset value

Fund administrator SEI GLOBAL SERVICES, INC. OAKS STATE, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP NEW YORK, New York, United States

Custodian WELLS FARGO BANK, NA SAN FRANCISCO, California, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

ERNST & YOUNG LLP
PCAOB 42

Fund details & source

Fund ID: 805-4816991159
Reported beneficial owners: 2
Minimum commitment: $2B

Form ADV 2122465 · Jul 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

STEPSTONE K INFRASTRUCTURE OPPORTUNITIES FUND II, L.P.Private Equity Fund · Last reported Jul 30, 2026$1.98BGross asset value

Fund administrator SEI GLOBAL SERVICES, INC. OAKS, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP NEW YORK, New York, United States

Custodian FIRST CITIZENS BANK AND TRUST CO. RALEIGH, North Carolina, United States Related to adviser: No

Custodian WELLS FARGO BANK, NA SAN FRANCISCO, California, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

ERNST & YOUNG LLP
PCAOB 42

FIRST CITIZENS BANK AND TRUST CO.
LEI L9VVX1KT5TFTKS0MLF66

Fund details & source

Fund ID: 805-2142389626
Reported beneficial owners: 3
Minimum commitment: $1.5B

Form ADV 2122465 · Jul 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

STEPSTONE C STRATEGIC CORE INFRASTRUCTURE PARTNERSHIP, L.PPrivate Equity Fund · Last reported Jul 30, 2026$1.65BGross asset value

Fund administrator SEI GLOBAL SERVICES, INC. OAKS, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP NEW YORK, New York, United States

Custodian BANK OF AMERICA NEW YORK, New York, United States Related to adviser: No

Custodian FIRST CITIZENS BANK AND TRUST CO. RALEIGH, North Carolina, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

ERNST & YOUNG LLP
PCAOB 42

FIRST CITIZENS BANK AND TRUST CO.
LEI L9VVX1KT5TFTKS0MLF66

Fund details & source

Fund ID: 805-3544055610
Reported beneficial owners: 3
Minimum commitment: $1.3B

Form ADV 2122465 · Jul 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

CGC CLEAN ENERGY INVESTMENT MOBILIZATION, LLCPrivate Equity Fund · Last reported Jul 30, 2026$1.59BGross asset value

Fund administrator SEI GLOBAL SERVICES, INC. OAKS STATE, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor KPMG NEW YORK, New York, United States

Custodian BANK OF AMERICA NEW YORK, New York, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

KPMG
PCAOB 185

Fund details & source

Fund ID: 805-7382426352
Reported beneficial owners: 2
Minimum commitment: $1.45B

Form ADV 2122465 · Jul 30, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Jul 30, 2026. View historical filings

Reported services

Investment company portfolio management · Pooled investment vehicle management · Business portfolio management · Pension consulting · Selection of other advisers

Compensation

Percentage of assets · Fixed · Performance-based

Principal office

4225 EXECUTIVE SQUARE, SUITE 1600
LA JOLLA, CA, 92037, United States

CRD 281695

Filing source

Form ADV 2122465 · Jul 30, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.