Investment adviser · CRD 281698

STEPSTONE GROUP REAL ESTATE LP

Investment adviser filing (IA)

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

Regulatory AUM: $17.2B
Client accounts: 67
Employees: 117
Advisory professionals: 95

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	61	$15,879,181,441	92.3%
Retirement plans	7	$1,317,717,112	7.7%
Government entities	11	$15,668,077	0.1%
Banks & thrifts	Fewer than 5	Not reported	Not reported
Other investment advisers	Fewer than 5	Not reported	Not reported
Insurance companies	Fewer than 5	Not reported	Not reported
Sovereign wealth & foreign institutions	Fewer than 5	Not reported	Not reported

Filing source

Form ADV 2122461 · 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 REAL ESTATE EUROPE CO-INVESTMENTS HOLDINGS, LPReal Estate Fund · Last reported Jul 30, 2026$393MGross asset value

Feeder funds

STEPSTONE REAL ESTATE EUROPE CO-INVESTMENTS, LP

Fund administrator SEI 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 JPMORGAN CHASE BANK, NA, LONDON BRANCH LONDON, United Kingdom Related to adviser: No

Custodian SILICON VALLEY BANK SANTA CLARA, 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: 805-5177847400
Reported beneficial owners: 1
Minimum commitment: $441M

Form ADV 2122461 · 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 PIFSS REAL ESTATE CO-INVESTMENT FUND, LPReal Estate Fund · Last reported Jul 30, 2026$381MGross asset value

Fund administrator SEI 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 JP MORGAN NEW YORK, New York, United States Related to adviser: No

Custodian SILICON VALLEY BANK SANTA CLARA, 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: 805-8675086187
Reported beneficial owners: 2
Minimum commitment: $500M

Form ADV 2122461 · 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.

SREP V ALPHA INVESTCO BLOCKED (CIV), LPReal Estate Fund · Last reported Jul 30, 2026$352MGross 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 JPMORGAN CHASE BANK, NA, LONDON BRANCH 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: 805-5984330375
Reported beneficial owners: 7
Minimum commitment: $1.16M

Form ADV 2122461 · 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 REAL ESTATE PARTNERS IV EUROPE SCSReal Estate Fund · Last reported Jul 30, 2026$350MGross asset value

Fund administrator SANNE GROUP (LUXEMBOURG ) S.A. LUXEMBOURG, Luxembourg Investor statements: Yes (provided to all investors) Related to adviser: No

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

Custodian GOLDMAN SACHS NEW YORK, New York, United States Related to adviser: No

Custodian SILICON VALLEY BANK SANTA CLARA, California, United States Related to adviser: No

Marketer THREADMARK PARTNERS LIMITED 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: Yes

ERNST & YOUNG LLP
PCAOB 42

Fund details & source

Fund ID: 805-5419542515
Reported beneficial owners: 29
Minimum commitment: $250K

Form ADV 2122461 · 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 BVK REAL ESTATE OPPORTUNITIES FUND SCSPReal Estate Fund · Last reported Jul 30, 2026$312MGross asset value

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

Auditor ERNST & YOUNG LLP LUXEMBOURG, Luxembourg

Custodian BANK OF AMERICA LUXEMBOURG, Luxembourg Related to adviser: No

Custodian ING LUXEMBOURG LUXEMBOURG, Luxembourg Related to adviser: No

Custodian SILICON VALLEY BANK SANTA CLARA, 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 1367

Fund details & source

Fund ID: 805-5720155501
Reported beneficial owners: 3
Minimum commitment: $325M

Form ADV 2122461 · 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 GAMMA REAL ESTATE CO-INVESTMENT PARTNERSHIP LPReal Estate Fund · Last reported Jul 30, 2026$293MGross 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 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: 805-8006568078
Reported beneficial owners: 2
Minimum commitment: $250M

Form ADV 2122461 · 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 REAL ESTATE PARTNERS III I OPPORTUNITIES FUND, LPReal Estate Fund · Last reported Jul 30, 2026$292MGross 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 CHARLOTTE, North Carolina, United States Related to adviser: No

Custodian SILICON VALLEY BANK SANTA CLARA, 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: 805-1677832839
Reported beneficial owners: 3
Minimum commitment: $250M

Form ADV 2122461 · 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

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 281698

Filing source

Form ADV 2122461 · 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.