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 INSURANCE FUND SERIES OF THE SALI MULTI-SERIES FUND, L.P.Real Estate Fund · Last reported Jul 30, 2026$285MGross asset value

Fund administrator GEN II FUND SERVICES, LLC 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 CHARLES SCHWAB WESTLAKE, Texas, United States Related to adviser: No

Custodian PRINCIPAL CUSTODY SOLUTIONS WACO, Texas, 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: 805-6240524688
Reported beneficial owners: 1
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.

ARTISTIC STEPS SMA LLCReal Estate Fund · Last reported Jul 30, 2026$242MGross 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

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: 805-3754276787
Reported beneficial owners: 1
Minimum commitment: $0

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 (CIV), LPReal Estate Fund · Last reported Jul 30, 2026$242MGross 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 NEW YORK, New York, 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: 805-2216884274
Reported beneficial owners: 11
Minimum commitment: $255K

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 T REAL ESTATE OPPORTUNITIES FUND, L.P.Real Estate Fund · Last reported Jul 30, 2026$209MGross asset value

Fund administrator GEN II FUND SERVICES, LLC NEW YORK, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLP LOS ANGELES, California, 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: 805-7814751363
Reported beneficial owners: 2
Minimum commitment: $153M

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 HB OPPORTUNITIES FUND II, L.P.Real Estate Fund · Last reported Jul 30, 2026$200MGross asset value

Form D fundraising filings

StepStone HB Opportunities Fund II, L.P.

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: 805-9253363042
Reported beneficial owners: 2
Minimum commitment: $140M
Form D file number: 021-416413

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.

ARTISTIC STEPS INVESTMENTS SMA II, LLCReal Estate Fund · Last reported Jul 30, 2026$195MGross 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

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: 805-8625075651
Reported beneficial owners: 1
Minimum commitment: $0

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.

SRE IV IGNITE INVESTCO (CIV), LPReal Estate Fund · Last reported Jul 30, 2026$194MGross 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: 805-4395208311
Reported beneficial owners: 6
Minimum commitment: $0
Form D file number: 021-450466

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.