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 L GLOBAL INFRASTRUCTURE SMA, L.P.Private Equity Fund · Last reported Jul 30, 2026$262MGross asset value

Form D fundraising filings

StepStone L Global Infrastructure SMA, L.P.

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

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: 805-6840187082
Reported beneficial owners: 3
Minimum commitment: $259M
Form D file number: 021-542283

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 TC INFRASTRUCTURE OPPORTUNITIES (HOLDINGS), L.P.Private Equity Fund · Last reported Jul 30, 2026$261MGross asset value

Feeder funds

STEPSTONE TC INFRASTRUCTURE OPPORTUNITIES FUND, L.P.

Fund administrator MUFG NOVA SCOTIA, Canada Investor statements: Yes (provided to all investors) Related to adviser: No

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

Custodian JP MORGAN LONDON, United Kingdom 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: 805-4821680812
Reported beneficial owners: 2
Minimum commitment: $240M

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 NZ INFRASTRUCTURE OPPORTUNITIES FUND, L.P.Private Equity Fund · Last reported Jul 30, 2026$260MGross asset value

Fund administrator STANDISH MANAGEMENT SAN FRANCISCO, California, 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: 805-8625052422
Reported beneficial owners: 3
Minimum commitment: $250M

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 R CO-INVESTMENT PARTNERSHIP, L.P.Private Equity Fund · Last reported Jul 30, 2026$256MGross 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 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: 805-8354037297
Reported beneficial owners: 3
Minimum commitment: $275M

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.

SSG LP INVEST INFRASTRUCTURE OPPORTUNITIES FUND, L.PPrivate Equity Fund · Last reported Jul 30, 2026$250MGross asset value

Fund administrator STANDISH MANAGEMENT SAN FRANCISCO, California, 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: 805-1650758535
Reported beneficial owners: 1
Minimum commitment: $250M

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.

LINDENSTONE INFRASTRUCTURE SCSPPrivate Equity Fund · Last reported Jul 30, 2026$243MGross asset value

Fund administrator STANDISH MANAGEMENT LUXEMBOURG, Luxembourg Investor statements: Yes (provided to all investors) Related to adviser: No

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

Provider details

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

Fund details & source

Fund ID: 805-2800740532
Reported beneficial owners: 3
Minimum commitment: $450M

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 PHOENIX INFRASTRUCTURE DEBT OPPORTUNITIES FUND, L.P.Private Equity Fund · Last reported Jul 30, 2026$238MGross 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 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: 805-3255859658
Reported beneficial owners: 4
Minimum commitment: $250M

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.