Form D · Private Equity Fund

StepStone Real Estate Partners V QFP Parallel, L.P.

La Jolla, CA · CIK 0001952753

Offering snapshot reported Mar 5, 2025 · SEC filing

Reported sold: $1.18B
Investors reported: 14
Minimum accepted: $0
First sale: Mar 10, 2023

Fundraising history

Reported sold

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

Reported sold$200,000,000 → $1,175,000,000
Reported investors3 → 14

Filing history

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Filed	Filing type	Reported sold	Change vs linked filing	Investors	Source
Mar 5, 2025	Amendment	$1,175,000,000	$975,000,000vs Mar 6, 2024	14	SEC filing
Mar 6, 2024	Amendment	$200,000,000	No comparison	3	SEC filing
Mar 7, 2023	Initial	Yet to sell	No comparison	0	SEC filing

Offering details

Securities: Pooled investment fund
Exemptions: 06b, 3C, 3C.7
Duration over one year: Yes
Business combination: No

Sales commissions: $2.25M (estimated)
Finders' fees: $0
Form D file number: 021-475126

Subject to future contingencies.

Sales compensation recipients

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Recipient	CRD	Associated broker-dealer
Threadmark Partners Limited	None

Source: Form D, filed Mar 5, 2025. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

STEPSTONE REAL ESTATE PARTNERS V QFP, LP

Investment adviser: STEPSTONE GROUP REAL ESTATE LP

Gross asset value: $1.86B
Beneficial owners: 16
ADV minimum commitment: $5M

Reported in Form ADV on Jul 30, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

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

Marketer AZIMUTH GLOBAL PARTNERS KUALA LAMPUR, Malaysia Related to adviser: No

Marketer HANWHA SECURITIES SEOUL, Korea, South Related to adviser: No

Marketer INPACT GENEVA, Switzerland Related to adviser: No

Marketer MORGAN STANLEY NEW YORK CITY, 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

Filing source

Form ADV 2122461 · Jul 30, 2026 · Schedule D 7.B.(1), fund 805-4297885070

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

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
Name	Reported role
Josh Cleveland	Executive
Jeff Giller	Executive
Adam Lesnick	Executive
Brendan Mac Donald	Executive
N/A Step Stone Group Real Estate Holdings Llc	Executive
N/A Step Stone Group Real Estate Lp	Executive
N/A Step Stone Rep V (Gp), Llc	Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:

4225 Executive Square Suite 1600
La Jolla, CA, 92037