Stepstone Group Real Assets LP

StepStone Group Real Assets LP provides private markets investment management and supervisory services primarily through pooled funds and institutional mandates, focusing on primary fund investments, secondaries, and co‑investments as well as bespoke, feeder and fund-of-funds vehicles. The firm works with institutional investors and sponsors—including pension and profit‑sharing plans, insurance companies, state and municipal government investors, endowments, foundations, sovereign wealth funds and other institutional allocators—and also serves as a sub‑adviser to a registered closed‑end investment company.

The firm’s investment process emphasizes extensive due diligence and fundamental analysis of managers and transactions, and constructs portfolios by over‑allocating or under‑allocating to specific strategies and geographies within a diversified framework intended for the next fund cycle. StepStone provides both discretionary and non‑discretionary advisory and monitoring/reporting services and can sponsor bespoke funds tailored to a client’s objectives and governing documents.

Compared with many peers, StepStone operates from multiple offices and explicitly supports institutional client types that are less common among managers in this category (for example, pension consulting‑type services, insurance company and state/municipal investors), and it routinely selects and evaluates other advisers and underlying managers on behalf of clients. The firm also maintains a large proprietary private markets database (SPI™) — used internally, made available commercially, and sometimes incorporated into client monitoring and research — which the brochure discloses as a material element of its sourcing and analysis capabilities.