StepStone Group achieved unprecedented growth in 2025, raising its flagship real estate fund to $5.3 billion while allocating $15 billion across 60+ global funds and $3 billion in secondaries deals. Amid elevated interest rates and liquidity constraints, the firm executed a landmark European secondaries transaction and recapitalized Vitalia, Spain’s top senior-care operator, with Greykite. These moves highlight its expanding role in complex, cross-border restructurings.

The firm navigated one of the toughest fundraising environments in over a decade, growing its SREP-series fund size 2.7x despite denominator pressure and uncertain valuations. By leveraging its global platform’s sector expertise and secondaries capabilities, StepStone delivered liquidity solutions to managers through private equity-style transactions, cementing its reputation for adaptability in illiquid markets.

StepStone’s advisory leadership earned Investment Consultancy of the Year at the 2025 IPE Real Estate Global Awards, alongside recognition as a “Best Place to Work” by Money Management magazine. Its success stems from an integrated team approach, combining investment, legal, and operational expertise to tackle sector-specific challenges.

With liquidity constraints persisting, StepStone positions itself as a go-to partner for managers seeking flexible exits. Its ability to execute high-stakes transactions in strained markets underscores its strategic value in today’s fragmented real estate landscape.