<SEC-DOCUMENT>0001193125-25-207499.txt : 20250918
<SEC-HEADER>0001193125-25-207499.hdr.sgml : 20250918
<ACCEPTANCE-DATETIME>20250918163657
ACCESSION NUMBER:		0001193125-25-207499
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250918
DATE AS OF CHANGE:		20250918

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			StepStone Group Inc.
		CENTRAL INDEX KEY:			0001796022
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		EIN:				843868757
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-91686
		FILM NUMBER:		251323959

	BUSINESS ADDRESS:	
		STREET 1:		277 PARK AVENUE
		STREET 2:		45TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10172
		BUSINESS PHONE:		1-212-351-6100

	MAIL ADDRESS:	
		STREET 1:		277 PARK AVENUE
		STREET 2:		45TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10172

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Lim James
		CENTRAL INDEX KEY:			0001543577
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	MAIL ADDRESS:	
		STREET 1:		100 PAINTERS MILL ROAD, SUITE 700
		CITY:			OWINGS MILLS
		STATE:			MD
		ZIP:			21117
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001543577</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>5</amendmentNo>
      <securitiesClassTitle>Class A Common Stock, Par Value $0.001 Per Share</securitiesClassTitle>
      <dateOfEvent>09/18/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0001796022</issuerCIK>
        <issuerCUSIP>85914M107</issuerCUSIP>
        <issuerName>StepStone Group Inc.</issuerName>
        <address>
          <street1 xmlns="http://www.sec.gov/edgar/common">277 Park Avenue, 45th Floor</street1>
          <city xmlns="http://www.sec.gov/edgar/common">New York</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">NY</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">10172</zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Jennifer Y. Ishiguro</personName>
          <personPhoneNum>(212) 351-6100</personPhoneNum>
          <personAddress>
            <street1 xmlns="http://www.sec.gov/edgar/common">StepStone Group Inc.</street1>
            <street2 xmlns="http://www.sec.gov/edgar/common">277 Park Avenue, 45th Floor</street2>
            <city xmlns="http://www.sec.gov/edgar/common">New York</city>
            <stateOrCountry xmlns="http://www.sec.gov/edgar/common">NY</stateOrCountry>
            <zipCode xmlns="http://www.sec.gov/edgar/common">10172</zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0001543577</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>James Lim</reportingPersonName>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>4204451</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>4204451</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
        <aggregateAmountOwned>4204451</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>5.3</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Class A Common Stock, Par Value $0.001 Per Share</securityTitle>
        <issuerName>StepStone Group Inc.</issuerName>
        <issuerPrincipalAddress>
          <street1 xmlns="http://www.sec.gov/edgar/common">277 Park Avenue, 45th Floor</street1>
          <city xmlns="http://www.sec.gov/edgar/common">New York</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">NY</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">10172</zipCode>
        </issuerPrincipalAddress>
        <commentText>This statement on Schedule 13D (this "Statement") relates to the Reporting Person's (as defined in Item 2 below) beneficial ownership interest in the Class A common stock, par value $0.001 per share (the "Class A Common Stock"), of StepStone Group Inc., a Delaware corporation (the "Issuer"). The address of the principal executive offices of the Issuer is 277 Park Avenue, 45th Floor, New York, NY 10172.

This amendment (the "Amendment") amends the prior statement on Schedule 13D filed by the Reporting Persons with the Securities and Exchange Commission on September 20, 2021, as amended on July 3, 2023, February 21, 2024, August 14, 2024 and November 1, 2024 (the "Original Filing" and, as amended by this Amendment, the "Schedule 13D"). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to them in the Original Filing.</commentText>
      </item1>
      <item2>
        <filingPersonName>Item 2 of the Schedule 13D is hereby amended and supplemented as follows:

This Schedule 13D is being filed by James Lim (the "Reporting Person").

(a) As of the date of this statement, Mr. Lim beneficially owns 4,040,795 shares of Class A Common Stock and 163,656 Class C Units that are convertible into Class A Common Stock owned by Sanctuary Bay LLC. All of the Class C units owned by Sanctuary Bay LLC are exchangeable within 60 days of the date hereof.</filingPersonName>
      </item2>
      <item5>
        <percentageOfClassSecurities>(a) and (b) Items 5(a) and 5(b) of Schedule 13D are amended to reflect the following:
The following table sets forth the aggregate number and percentage of the Class A Common Stock beneficially owned by the Reporting Person. The aggregate number and percentage of the Class A Common Stock beneficially owned by the Reporting Person is calculated in accordance with Rule 13d-3.

                                                                                                                                       Percentage of
                                                                                        Number of                                   Class
                                                                                            Shares                               A Common
                                                                                        Beneficially                                Stock
Reporting Person                                                               Owned                               Outstanding(1)

 James Lim                                                                        4,204,451                                5.3%

(1) Based on 78,563,710 shares of Class A Common Stock issued and outstanding as of September 12, 2025, and assuming that the Reporting Person exchanges all the Class C Units that are beneficially owned by him and currently available to be exchanged for Class A Common Stock on a one-for-one basis.</percentageOfClassSecurities>
        <transactionDesc>The Reporting Person has not effected any transactions involving the beneficial ownership of Class A Common Stock during the sixty (60) days prior to the date of this statement.</transactionDesc>
      </item5>
      <item7>
        <filedExhibits>1.	Tenth Amended and Restated Limited Partnership Agreement of StepStone Group LP (incorporated by reference to Exhibit 10.1 to the Issuer's Form 8-K filed with the SEC on May 31, 2024).
2.	Class C Exchange Agreement (incorporated by reference to Exhibit 10.5 to the Issuer's Form 8-K filed with the SEC on September 20, 2021).
3.	Second Amended and Restated Registration Rights Agreement (incorporated by reference to Exhibit 10.2 to the Issuer's Form 8-K filed with the SEC on May 31, 2024)
           24.1     Power of Attorney for James Lim (incorporated by reference to Exhibit 24.1 to the Reporting Person's Schedule 13D filed on September 24, 2021).
</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>James Lim</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Jennifer Ishiguro, Attorney-in-Fact</signature>
          <title>James Lim</title>
          <date>09/18/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
