Private fund adviser · La Jolla, CA
Stepstone Group LP
SEC-registered investment adviser · CRD 143635 · SEC 801-68079
At a glance
Stepstone Group LP is an SEC-registered investment adviser based in La Jolla, California, with $107.8 billion in regulatory assets under management as of its Form ADV filed July 30, 2026. Its largest client group by assets is pooled investment vehicles, and it reports 14 individual clients. By Form ADV it is a private fund adviser, ranked 73rd of 4,686 private fund advisers and 245th of 17,210 SEC-registered advisers by assets.
Main office 858-558-9700stepstonegroup.comLinkedInAs filed on Form ADV
- Regulatory AUM
- $108B
- Rank among private fund advisers
- #73 of 4,686
- Rank among all SEC RIAs
- #245 of 17,210
- Rank in California
- #21 of 1,873
- Individual clients
- 14
- High-net-worth clients
- 14
- Accounts
- 412
- Discretionary
- 88% of AUM
- Employees
- 978
- Advisory staff
- 209
- Offices
- 10
Owners and executives on its Form ADV
- Jose A. FernandezCo-Chief Operating Officer, Partner
- Thomas P. KeckPartner, Head of Portfolio Management
- Jason P. MentPartner, President and Co-Chief Operating Officer
- Jennifer Y. IshiguroPartner, Chief Legal Officer
- Scott W. HartPartner, Chief Executive Officer
- Bendukai E. BoueyChief Compliance Officer
- David Y. ParkPartner, Chief Financial Officer
Custody and brokerage
Custodian
Stepstone Group LP’s Form ADV lists no custodian for separately managed accounts. Firms report one only when they manage $10 million or more in those accounts.
Who it serves
| Client type | Clients | Regulatory AUM | Share |
|---|---|---|---|
| Pooled investment vehicles | 413 | $108B | 100% |
| High-net-worth individuals | 14 | $0M | 0% |
| Banking or thrift institutions | 9 | $0M | 0% |
| Investment companies | 18 | $0M | 0% |
| Pension and profit sharing plans | 20 | $0M | 0% |
| Charitable organizations | 19 | $0M | 0% |
| State or municipal government entities | 20 | $0M | 0% |
| Other investment advisers | 28 | $0M | 0% |
| Insurance companies | 13 | $0M | 0% |
| Sovereign wealth funds and foreign official institutions | 4 | $0M | 0% |
| Corporations or other businesses | 3 | $0M | 0% |
Private funds
Stepstone Group LP reports 409 private funds with $123B in gross assets: hedge funds, private equity funds, venture capital funds, real estate funds (Form ADV Item 7.B).
Disciplinary disclosures
Stepstone Group LP reports no disciplinary disclosures in Item 11 of Form ADV. Read the details on the SEC’s adviser search ↗
Services
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses and institutions
- Pension consulting
- Selecting other advisers
How it’s paid
- A percentage of assets under management
- Fixed fees
- Performance-based fees
Form ADV and brochures on the SEC’s adviser search ↗stepstonegroup.com ↗
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The full record on Stepstone Group LP
Ten years of SEC filings, its owners and contacts, and how it stacks up against its peers. Atlas members see all of it.
- Assets, accounts, clients and staff, ten years of filings
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- Growth over one, three and five years
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- Rank against 205 peers of its type and size
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- Owners and executives, with titles and stakes
- 7 namedLocked
- Main office, fax and compliance officer
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- Filing changes this year, with alerts
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Background
Questions
How much does Stepstone Group LP manage?
Stepstone Group LP reports $107.8 billion in regulatory assets under management across 412 accounts, 88% of it on a discretionary basis, on its Form ADV filed July 30, 2026.
What kind of firm is Stepstone Group LP?
Stepstone Group LP is a private fund adviser by its Form ADV answers. Private funds are at least half of its business by assets. A public reporting company controls it.
Who are Stepstone Group LP’s clients?
By assets, its largest client types are pooled investment vehicles ($107.8 billion, 413 clients); high-net-worth individuals ($0, 14 clients); banking or thrift institutions ($0, 9 clients).
Does Stepstone Group LP manage private funds?
Yes. It reports 409 private funds with $123.3 billion in gross assets, including hedge funds, private equity funds, venture capital funds, real estate funds.
Does Stepstone Group LP have any disciplinary history?
Stepstone Group LP reports no disciplinary disclosures in Item 11 of its Form ADV. Check the SEC’s adviser search for the latest record.
Where these numbers come from
Every figure is Stepstone Group LP’s own answer on its latest Form ADV, from the SEC’s registered-adviser list as of October 1, 2026: regulatory assets and accounts (Item 5.F), clients by type (5.D), employees (5.A and 5.B), compensation (5.E) and services (5.G). Custodians come from Schedule D 5.K(3) of its latest filing (2026-07-30), which lists those holding 10% or more of separately managed account assets and the amount at each. “Hybrid” means some employees are also registered representatives of a broker-dealer (Item 5.B(2)); affiliated broker-dealers are the related persons it lists in Item 7.A and Schedule D. Firm type comes from its own answers: broker-dealer firms are registered broker-dealers themselves (Item 6.A); private fund advisers manage mostly private funds (Item 7.B, 5.D); wealth managers manage at least half their assets for individuals (5.D). Ranks compare it by regulatory assets with every SEC-registered adviser and with firms of its type. Figures are as of the firm’s last annual update, so they can lag recent deals and market moves. Regulatory AUM counts assets the firm continuously supervises and can differ from what a firm markets.
Not an endorsement or a recommendation. Before hiring any adviser, read its Form ADV Part 2A brochure and check its record on the SEC’s adviser search. How to check a financial advisor →