StepStone Group Inc.

The Allocator That Became a Manager

StepStone Group started in 2007 as an adviser helping institutions build private markets portfolios and has grown into one of the largest allocators in the industry: at 31 March 2026 it was responsible for about $885 billion of capital, $233 billion of it under discretionary management and $652 billion under advisement, up 25% in a year. That vantage point — data on thousands of funds and general partners — powers its own vehicles, including the private wealth platform that approached $18 billion in fiscal 2026 and its flagship evergreen fund, StepStone Private Markets (SPRIM), which has compounded at 19% a year since 2020.