Slice of Stock

Number 9 of 100 by regulatory assets

StepStone Group

StepStone Group reported $172.3bn of regulatory assets under management from La Jolla, CA, across 375 private funds. It files with the SEC through 4 registered advisers, and the figure above is the sum of what each one reported.

The book

Regulatory assets under management, as Item 5.F of Form ADV defines it. That figure is gross and includes leverage, so it is not the same thing as the assets under management a firm quotes in its own marketing. Latest filing 2026-07-30.

Regulatory AUM
$172.3bn
Private funds
375
SEC registrations
4
In pooled vehicles
94%

stepstonepw.com, as listed on its own Form ADV.

What kind of funds

Every private fund on the firm's Schedule D, grouped by the fund type the firm itself checked, and weighted by gross asset value. $118.2bn of fund assets in total. This is the classification as filed to 31 December 2024, the most recent the SEC publishes in bulk, so it is older than the size figure above.

The registrations behind the firm

A firm is not a registered adviser. StepStone Group files through 4 of them, each with its own SEC number and its own reported assets. Relying advisers under an umbrella registration do not file separately, so nothing below counts the same assets twice.

Where this comes from

Assets, address and registrations: Form ADV Part 1A as published in the SEC's daily investment adviser feed, this firm's latest filing dated 2026-07-30. Fund count and fund types: Form ADV Schedule D Section 7.B.(1), from the SEC bulk archive of filings to 2024-12-31. Each adviser name above links to its record on the SEC's own Investment Adviser Public Disclosure site, which is the authority for anything on this page.

Staff numbers are deliberately not totalled here: each registered adviser reports its own employee count and the same person is often reported by several, so a sum would overstate the firm.

Either side of it

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