AUMdb

Stepstone Group Real Assets Lp

SEC-registered Private Fund Manager · Large ($10B–$100B) CRD 281695 · SEC file 801-106844 · La Jolla, CA · spi.stepstonegroup.com
☆ Save with Pro ADV data as of Jul 30, 2026
Regulatory AUM
$41.5B
Discretionary
$22.2B
Clients
71
Avg AUM / client
$584M
Accounts
64
Employees
94

AUM over time

$50.0M $41.5B
Oct 2015 Jul 2026

Annual snapshots from Form ADV filings · as of Jul 30, 2026

Who they serve

Client typeClientsAUM% of AUM
Investment companies 1
Pooled investment vehicles (non-investment companies) 59 $34.9B 84.2%
Pension and profit sharing plans 7 $4.3B 10.3%
State or municipal government entities 2 $2.3B 5.5%
Insurance companies 2

Private funds (35)

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Reported in Form ADV Section 7.B.(1), filing of Jul 2024 · $21.5B combined gross assets

FundTypeDomicileGross assetsOwners
Stepstone G Infrastructure Opportunities, Lp Hedge Fund Cayman Islands $5.4B 3
Toranomon Infrastructure 1, L.P. Private Equity Fund Cayman Islands $3.6B 2
Stepstone K Infrastructure Opportunities Fund Ii, L.P. Private Equity Fund Cayman Islands $1.6B 3
Stepstone K Infrastructure Opportunities Fund, L.P. Private Equity Fund Cayman Islands $1.1B 2
Stepstone C Strategic Core Infrastructure Partnership, L.P Private Equity Fund Delaware $995M 3
Stepstone B Infrastructure Opportunities Fund Iii, L.P. Private Equity Fund Cayman Islands $895M 10
Stepstone P Infrastructure Opportunities Fund, Lp Private Equity Fund Cayman Islands $660M 2
Stepstone B Infrastructure Opportunities Fund Ii R, L.P. Private Equity Fund Cayman Islands $616M 9
Stepstone Ats Infrastructure Master, L.P. Private Equity Fund Delaware $546M 2
Stepstone P Infrastructure Opportunities Fund Ii, L.P. Private Equity Fund Cayman Islands $530M 3
Stepstone Scorpio Infrastructure Opportunities Fund, L.P. Private Equity Fund Cayman Islands $480M 3
Stepstone Pts Infrastructure Secondary Opportunities Fund Holdings, L.P. master Private Equity Fund Delaware $472M 3
Stepstone B Infrastructure Opportunities Fund Ii G, L.P. Private Equity Fund Cayman Islands $471M 8
Stepstone Infrastructure Co Investment Partners 2022 Parallel, L.P. Private Equity Fund Delaware $428M 6
Stepstone Tmam Infrastructure Opportunities Limited Private Equity Fund Cayman Islands $419M 2

People (9)

NameRole / titleCredentialsWith firm sinceOwnership
Fernandez, Jose, Agustin Co Chief Operating Officer, Partner Mar 2007 (19y) Less than 5%
Ment, Jason, Paul President And Co Chief Operating Officer, Partner Jan 2014 (13y) Less than 5%
Kynaston, Stephen, (Nmn) Partner Jul 2016 (10y) 5% – 10%
O'leary, James, David Director Jul 2016 (10y) GP / trustee / elected manager of Choljo Investments Pty Limited (indirect)
Cadman, Duane, Joseph Director Aug 2016 (10y) GP / trustee / elected manager of 10 Barclay Investments Pty Ltd (indirect)
Hart, Scott, William Chief Executive Officer Aug 2019 (7y) Less than 5%
Ishiguro, Jennifer, Yayoi Chief Legal Officer, Partner Sep 2019 (7y) Less than 5%
Bouey, Bendukai, Edward Chief Compliance Officer Jun 2023 (3y) Less than 5%
Park, David, Yongil Chief Financial Officer Jan 2024 (3y) Less than 5%

Entity owners (Schedule A/B)

EntityTitle / statusSinceSch.Ownership
Stepstone Group Lp Partner Jan 2014 A 50% – 75%
10 Barclay Investments Pty Ltd Partner Aug 2016 A 10% – 25%
Choljo Investments Pty Limited Partner Jul 2016 A 10% – 25%
Stepstone Group Real Assets Holding Llc General Partner Jul 2014 A Less than 5%
Stepstone Group Inc. Sole Managing Member Sep 2020 B 75% or more of Stepstone Group Holdings Llc (indirect)
Stepstone Group Lp Member Jul 2014 B ≈ 0% – 3.75% via Stepstone Group Real Assets Holding Llc
Stepstone Group Holdings Llc General Partner Jan 2014 B GP / trustee / elected manager of Stepstone Group Lp (indirect)

Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.

Estimated effective ownership (look-through of filed bands):

  • Stepstone Group Lp: 50% – 75% of Stepstone Group Real Assets Holding Llc × 0% – 5% direct ≈ 0% – 3.75% of the firm

Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.

Private funds (35, $21.5B gross assets)

FundTypeGross assetsMin. investmentOwners
Stepstone G Infrastructure Opportunities, Lp Hedge Fund $5.4B $4.5B 3
Toranomon Infrastructure 1, L.P. Private Equity Fund $3.6B $3.3B 2
Stepstone K Infrastructure Opportunities Fund Ii, L.P. Private Equity Fund $1.6B $1.5B 3
Stepstone K Infrastructure Opportunities Fund, L.P. Private Equity Fund $1.1B $1.0B 2
Stepstone C Strategic Core Infrastructure Partnership, L.P Private Equity Fund $995M $799M 3
Stepstone B Infrastructure Opportunities Fund Iii, L.P. Private Equity Fund $895M $25.0M 10
Stepstone P Infrastructure Opportunities Fund, Lp Private Equity Fund $660M $500M 2
Stepstone B Infrastructure Opportunities Fund Ii R, L.P. Private Equity Fund $616M $25.3M 9
Stepstone Ats Infrastructure Master, L.P. Private Equity Fund $546M $10.0M 2
Stepstone P Infrastructure Opportunities Fund Ii, L.P. Private Equity Fund $530M $500M 3
Stepstone Scorpio Infrastructure Opportunities Fund, L.P. Private Equity Fund $480M $491M 3
Stepstone Pts Infrastructure Secondary Opportunities Fund Holdings, L.P. Private Equity Fund $472M $200M 3
Stepstone B Infrastructure Opportunities Fund Ii G, L.P. Private Equity Fund $471M $25.3M 8
Stepstone Infrastructure Co Investment Partners 2022 Parallel, L.P. Private Equity Fund $428M $22.0M 6
Stepstone Tmam Infrastructure Opportunities Limited Private Equity Fund $419M $437M 2
Stepstone Holyrood Infrastructure Opportunities Fund, L.P Private Equity Fund $407M $400M 3
Stepstone Phoenix Infrastructure Equity Opportunities Fund, L.P. Private Equity Fund $354M $300M 5
Stepstone Nps Infrastructure Fund Ii, Lp Private Equity Fund $329M $300M 3
Stepstone B Infrastrucutre Opportunities Fund, L.P. Private Equity Fund $320M $38.4M 8
Sunsira Infrastructure Fund, Llc Private Equity Fund $276M $300M 2
Stepstone Nz Infrastructure Opportunities Fund, L.P. Private Equity Fund $255M $250M 3
Stepstone R Co Investment Partnership, L.P. Private Equity Fund $253M $275M 3
Stepstone Ontario Natural Resources Opportunities Fund, L.P. Private Equity Fund $201M $200M 2
Stepstone Phoenix Infrastructure Debt Opportunities Fund, L.P. Private Equity Fund $178M $250M 4
Stepstone Ip Infrastructure Opportunities Fund, Lp Private Equity Fund $150M $150M 3

Top 25 of 35 funds by gross assets · all funds

From Form ADV Section 7.B private fund reporting.

Documents (1 archived)

FormPeriodSize
Form ADV (full filing) 06/29/2026 14.2 MB View · PDF · Source ↗

Archived copies of the firm's regulatory filings, versioned by content hash.

Disciplinary disclosures

No disciplinary events reported on the firm's latest Form ADV filing.

How they charge

  • Percentage of assets under management
  • Fixed fees
  • Performance-based fees

Services

  • Portfolio management for investment companies
  • Portfolio management for pooled investment vehicles
  • Portfolio management for businesses/institutional clients
  • Pension consulting services
  • Selection of other advisers

Custody

Firm reports having custody of client funds or securities (Item 9.A).

No custodian data reported or mined yet.

Source

All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jul 30, 2026.

View current Form ADV (SEC/IAPD) ↗