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EXHIBIT 21.1

SUBSIDIARIES OF STEPSTONE GROUP INC. (as of March 31, 2024)

Name of Subsidiary						Jurisdiction/State of Incorporation
SRA Capital (Canada) LTD.						British Columbia, Canada
StepStone Group Private Wealth LLC						Delaware
StepStone Europe Limited						England and Wales
StepStone GC Manager, L.P.						Delaware
StepStone Gestão de Recursos Ltda.						Brazil
StepStone Group (CHINA) Limited						China
StepStone Group (HK) Limited						Hong Kong
StepStone Group Chile SpA						Chile
StepStone Group Europe LLP						United Kingdom
StepStone Group Holdings LLC						Delaware
StepStone Group LP						Delaware
StepStone Group Luxembourg S.À R.L						Luxembourg
StepStone Group Mexico Holdings LLC						Delaware
StepStone Group Mexico Holdings, SdeRL						Mexico
StepStone Group Private Debt LLC						Delaware
StepStone Group Real Assets Holdings LLC						Delaware
StepStone Group Real Assets LP						Delaware
StepStone Group Real Estate Holdings LLC						Delaware
StepStone Group Real Estate LP						Delaware
StepStone Group Singapore Pte. Ltd.						Singapore
StepStone Mexico, S.C.						Mexico
StepStone Mexico I SLP, L.P.						Delaware
StepStone Partners, L.P.						Delaware
Swiss Capital Alternative Investments AG						Switzerland
Swiss Capital Alternative Investments G.P. LTD.						Switzerland
StepStone Group Europe Alternative Investments Limited						Ireland
StepStone Verwaltungs Gmbh						Germany
StepStone Diversified Funds GP, LLC						Delaware
StepStone E (GP) LLC						Delaware
StepStone E Offshore (GP) LLC						Cayman Islands
StepStone East Town (GP), LLC						Cayman Islands
StepStone European Fund GP, S.À.R.L.						Luxembourg
StepStone FERRO (GP), LLC						Delaware
StepStone FSS (GP), LLC						Delaware
StepStone G (GP), LLC						Delaware
StepStone G (GP) II, LLC						Delaware
StepStone GC GP, LLC						Delaware
StepStone H (GP), LLC						Delaware
StepStone HF (GP), LLC						Delaware
StepStone HF Real Estate (GP), LLC						Delaware
StepStone JP (GP) II, LLC						Delaware
StepStone JP (GP), LLC						Delaware

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StepStone K Infrastructure (GP), LLC						Cayman Islands
StepStone K Infrastructure (GP) II, LLC						Cayman Islands
StepStone K Opportunities (GP), LLC						Delaware
StepStone K Real Estate (GP), LLC						Cayman Islands
StepStone KF (GP), LLC						Delaware
StepStone LMM (GP), LLC						Delaware
StepStone Maple (GP), LLC						Delaware
StepStone Mexico I (GP), LLC						Delaware
StepStone NL (GP), LLC						Delaware
StepStone NLGI (GP), LLC						Delaware
StepStone NPS PE (GP), LLC						Delaware
StepStone NPS PE II (GP), LLC						Cayman Islands
StepStone NPS Real Estate (GP), LLC						Cayman Islands
StepStone NPS SIERA (GP), LLC						Delaware
StepStone NPS SIRA II (GP), LLC						Cayman Islands
StepStone OH Secondaries (GP), LLC						Delaware
StepStone Opportunities Fund G.P. Ltd						Cayman Islands
StepStone P (GP), LLC						Cayman Islands
StepStone P Real Assets (GP), LLC						Cayman Islands
StepStone P Real Assets II (GP), LLC						Cayman Islands
StepStone PC GP, LLC						Delaware
StepStone PH (GP), LLC						Delaware
StepStone PIFSS Real Estate (GP), LLC						Cayman Islands
StepStone PPA (GP), LLC						Delaware
StepStone PPL Secondaries (GP), LLC						Delaware
StepStone PRIVATE ACCESS (GP), LLC						Delaware
StepStone R (GP), LLC						Delaware
StepStone Real Estate Partners IV (GP) S.À.R.L.						Luxembourg
StepStone REP III (GP) (Cayman), LLC						Cayman Islands
StepStone REP III (GP), LLC						Delaware
StepStone REP IV (GP Cayman), LLC						Cayman Islands
StepStone REP IV (GP), LLC						Delaware
StepStone RIVAS (GP), LLC						Delaware
StepStone Scorpio (GP), LLC						Cayman Islands
StepStone Secondaries II (GP), LLC						Delaware
StepStone Secondaries III (GP) S.À R.L.						Luxembourg
StepStone Secondaries III (GP), LLC						Delaware
StepStone Secondaries IV (GP) S.À R.L.						Luxembourg
StepStone Secondaries IV (GP), LLC						Delaware
StepStone SEDCO (GP), LLC						Delaware
StepStone SL (GP), LLC						Cayman Islands
StepStone Sunstone (GP), LLC						Delaware
StepStone Tactical Growth (GP), LLC						Delaware
StepStone Tactical Growth II (GP), LLC						Delaware
StepStone Tactical Growth III (GP), LLC						Delaware

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StepStone TRI GP LLC						Delaware
StepStone TS (GP), LLC						Delaware
StepStone UWF Secondaries (GP), L.P.						Delaware
StepStone UWF Secondaries Holdings (GP), LLC						Delaware
StepStone XL (GP), LLC						Delaware
StepStone Y (GP) LLC						Cayman Islands
Swiss Capital Private Debt G.P. (Luxembourg) S.À.R.L.						Luxembourg
Swiss Capital Private Debt G.P. II (Luxembourg) S.À.R.L.						Luxembourg
Swiss Capital Private Debt G.P. II LTD.						Cayman Islands
SSG Private Debt G.P. III (Luxembourg) S.À R.L.						Luxembourg
Swiss Capital Private Debt G.P. LTD						Cayman Islands
Swiss Capital Private Debt Manager G.P. LTD						Cayman Islands
Swiss Capital SCL Fund G.P. Ltd.						Cayman Islands
Real Estate Fund I Domestic GP, LLC						Delaware
Real Estate Fund I International GP, LLC						Delaware
Real Estate Fund II GP, LLC						Delaware
SSG Private Debt Manager G.P. II (Cayman) Ltd.						Cayman Islands
SSG ME Infrastructure (GP), LLC						Cayman Islands
SSG ME Real Estate (GP), LLC						Cayman Islands
SSG Peninsula (GP), LLC						Cayman Islands
StepStone A (GP), LLC						Delaware
StepStone AEGON (GP), LLC						Delaware
StepStone AMP (GP), LLC						Delaware
StepStone AP (GP), LLC						Delaware
StepStone Atlantic (GP), L.P.						Delaware
StepStone Atlantic Holdings (GP), LLC						Delaware
StepStone ATLAS (GP), LLC						Delaware
StepStone ATS (GP), LLC						Delaware
StepStone Atlas III (Offshore) (GP), LLC						Cayman Islands
StepStone AZ China and Asia (GP), LLC						Delaware
StepStone AZ Secondaries (GP), LLC						Delaware
StepStone B (GP), LLC						Cayman Islands
StepStone B II-G (GP), LLC						Cayman Islands
StepStone B II-R (GP), LLC						Cayman Islands
StepStone BVK (GP), S.À R.L.						Luxembourg
StepStone BVK RE (GP), S.À R.L						Luxembourg
StepStone C (GP), LLC						Delaware
StepStone Capital III (GP), LLC						Cayman Islands
StepStone Capital IV (GP) S.À.R.L.						Luxembourg
StepStone Capital IV (GP), LLC						Cayman Islands
StepStone Capital V (GP), S.À.R.L.						Luxembourg
StepStone Capital V (GP), LLC						Cayman Islands
StepStone CGC Opportunities (GP), Limited						Cayman Islands
StepStone Co-Investment Funds GP, LLC						Delaware
StepStone PH Infra Equity (GP), LLC						Cayman Islands

3

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StepStone PTS Infrastructure Secondary Opportunities (GP), LLC						Cayman Islands
StepStone HCSCMPTEPP (GP), LLC						Delaware
StepStone PH Infra (GP), LLC						Delaware
StepStone HB Real Estate (GP), LLC						Cayman Islands
OAM Private Debt GP Limited						Cayman Islands
SSG Private Credit (US) GP LLC						Delaware
Edamame Administrative Member LLC						Delaware
StepStone (Luxembourg) GP S.À R.L.						Luxembourg
StepStone Atlas III (GP), LLC						Delaware
StepStone Badger Secondary Opportunities Holdings (GP), LLC						Cayman Islands
StepStone PI (GP), LLC						Delaware
StepStone Sanabil (GP), LLC						Delaware
StepStone Secondaries V (GP) S.À R.L.						Luxembourg
StepStone Secondaries V Overage (GP) S.À R.L.						Luxembourg
StepStone TC (GP), LLC						Delaware
StepStone TI1 Tactical (GP), LLC						Cayman Islands
StepStone Thunderbird (GP), LLC						Delaware
Greenspring Associates, L.P.						Delaware
Greenspring Associates, LLC						Delaware
Greenspring Associates Newco, LLC						Delaware
Blackbird GA 2020 GP, LLC						Delaware
Blackbird GSC, L.P.						Delaware
StepStone VC Asia GP I, LLC						Cayman Islands
StepStone VC Crossover I GP, LLC						Delaware
StepStone VC Diversity GP I, LLC						Delaware
StepStone VC Early Stage GP I, LLC						Delaware
StepStone VC Early Stage GP II, LLC						Delaware
StepStone VC Early Stage I-H GP LLC						Delaware
StepStone VC Early Stage I-LH GP LLC						Delaware
StepStone VC FF-GP II, Ltd.						Cayman Islands
StepStone VC FF-GP III, LLC						Delaware
StepStone VC FF-GP IV, LLC						Delaware
StepStone VC FF-GP, LLC						Delaware
StepStone VC GE V GP, LLC						Delaware
StepStone VC General Partner GW, LLC						Delaware
StepStone VC Global Partners IX-M GP, LLC						Delaware
StepStone VC Global Partners IX-V GP, LLC						Delaware
StepStone VC GP (Healthcare), LLC						Delaware
StepStone VC GP IV, LLC						Delaware
StepStone VC GP IX, LLC						Delaware
StepStone VC GP V, LLC						Delaware
StepStone VC GP VI, LLC						Delaware
StepStone VC GP VII, Ltd.						Cayman Islands
StepStone VC GP VIII SARL						Luxembourg
StepStone VC GP VIII, Ltd.						Cayman Islands

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StepStone VC GP X, LLC						Delaware
StepStone VC Growth GP IV, LLC						Delaware
StepStone VC IL GP II LLC						Delaware
StepStone VC Impact GP I, LLC						Delaware
StepStone VC Impact GP II, LLC						Delaware
StepStone VC Micro GP I, LLC						Delaware
StepStone VC Micro GP II, LLC						Delaware
StepStone VC Micro GP III LLC						Delaware
StepStone VC Micro GP IV LLC						Delaware
StepStone VC MI-G GP, LLC						Delaware
StepStone VC Opportunities GP II, LLC						Delaware
StepStone VC Opportunities GP III, LLC						Delaware
StepStone VC Opportunities GP IV, LLC						Delaware
StepStone VC Opportunities GP V, LLC						Delaware
StepStone VC Opportunities GP VI, LLC						Delaware
StepStone VC Opportunities GP VII, LLC						Delaware
StepStone VC Secondaries GP I, LLC						Delaware
StepStone VC Secondaries GP II, LLC						Delaware
StepStone VC Secondaries GP III, LLC						Delaware
StepStone VC Secondaries GP IV, LLC						Delaware
StepStone VC Secondaries GP V, LLC						Delaware
StepStone VC SK GP, LLC						Cayman Islands
StepStone VC SPV (AV IV) GP, LLC						Delaware
StepStone VC SPV IV, LLC						Delaware
StepStone VC SPV IX GP, LLC						Delaware
StepStone VC SPV, LLC						Delaware
StepStone VC GP X-I, LLC						Delaware
StepStone VC F-II GP, LLC						Delaware
StepStone GE VII-L GP, LLC						Delaware
StepStone VC X-V GP, LLC						Delaware
G1 SRE SMA GP, LLC						Delaware
SICP 2022 (GP), LLC						Delaware
SilverStone Ironwood (GP), LLC						Cayman Islands
SilverStone Nolan (GP), LLC						Delaware, Cayman Islands
SilverStone Pebbles V (GP), LLC						Delaware
SRE N-22, LLC						Delaware
SSG Private Debt GP IV (Luxembourg) S.à r.l.						Luxembourg
StepStone Accelerate Diversity (GP), LLC						Delaware
StepStone B III (GP), LLC						Cayman Islands
StepStone Climate (GP) S.à r.l.						Luxembourg
StepStone Climate (GP), LLC						Delaware
StepStone Ferwa GP, LLC						Cayman Islands
StepStone HF Private Debt (GP), LLC						Delaware
StepStone HF Venture (GP), LLC						Delaware
StepStone Horizons (GP), LLC						Delaware

5

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StepStone iCapital GP VC, LLC						Delaware
StepStone Infrastructure Co-Investment Partners 2022 Europe (GP) S.A.R.L.						Luxembourg
StepStone K Real Estate II (GP), LLC						Cayman Islands
StepStone Libra (GP), LLC						Cayman Islands
StepStone NZ (GP), LLC						Cayman Islands
StepStone Ontario Natural Resources Opportunities (GP), LLC						Cayman Islands
StepStone Oxford I (GP), LLC						Delaware
StepStone PF Opportunities (L) (GP), LLC						Delaware
StepStone PIFSS Real Estate II (GP), LLC						Cayman Islands
StepStone Real Estate Partners V (GP) S.À.R.L.						Cayman Islands
StepStone REP V (GP Cayman), LLC						Cayman Islands
StepStone REP V (GP), LLC						Delaware
StepStone Rosa GP LLC						Delaware
StepStone T Real Estate (GP), LLC						Cayman Islands
StepStone Tactical Growth Fund IV (GP), LLC						Cayman Islands
StepStone Tactical Growth IV (GP) S.à r.l.						Luxembourg
StepStone TI1 (GP), Ltd						Cayman Islands
StepStone TM IO, LLC						Cayman Islands
StepStone VC 2022-CCT GP LLC						Delaware
StepStone VC Asia I-GB GP, LLC						Delaware
StepStone VC BC GP, LLC						Delaware
StepStone VC Blockchain GP I, LLC						Delaware
StepStone VC D-1 (GP), LLC						Delaware
StepStone VC Diversity GP II, LLC						Delaware
StepStone VC Early Stage GP III, LLC						Delaware
StepStone VC IX-R GP, LLC						Delaware
StepStone VC Mesa GP LLC						Delaware
StepStone VC NZ GP LLC						Delaware
StepStone VC Wabash GP LLC						Delaware
StepStone VC XI GP, LLC						Delaware
VVF II Continuation Fund GP LLC						Delaware
SIDF Active 1 (GP) LLC						Delaware
SIDF Active 2 (GP) LLC						Delaware
SIRA N-23, LLC						Cayman Islands
SRE Alpha Bidco S.à r.l.						Luxembourg
SRE Alpha Holdings S.à r.l.						Luxembourg
SRE Alpha Holdings II S.à r.l.						Luxembourg
SRE Juniversitas (GP), LLC						Cayman Islands
SRE Noble S.à r.l.						Luxembourg
SRE Solaris InvestCo (GP), LLC						Cayman Islands
SSG Private Credit Platform GP S.à r.l.						Luxembourg
SSIF (GP) LLC						Delaware
SSIF Europe (GP) S.à r.I.						Luxembourg
StepStone Boulder (GP), LLC						Delaware

6

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StepStone Growth Equity II-A GP LLC						Delaware
StepStone Holyrood Infrastructure (GP), LLC						Delaware
StepStone Holyrood Private Equity (GP), LLC						Delaware
StepStone IP Infrastructure Opportunities (GP), LLC						Delaware
StepStone Minderoo (GP), LLC						Delaware
StepStone NPS Real Estate II (GP), LLC						Cayman Islands
StepStone Pegasus (GP), LLC						Cayman Islands
StepStone PV Investment Program (GP), LLC						Cayman Islands
StepStone RE European Investments (V) S.à r.l.						Luxembourg
StepStone Secondaries V Overage (GP), LLC						Cayman Islands
Stepstone Sun (MM), LLC						Delaware
StepStone TC Infra (GP), LLC						Cayman Islands
StepStone VC 2023 – Beta HF Holding GP LLC						Delaware
StepStone VC CAPI Fund GP LLC						Delaware
StepStone VC Master SPV GP LLC						Delaware
StepStone VC Micro GP V LLC						Delaware
StepStone VC Micro V SLP LLC						Delaware
StepStone VC Micro-K GP LLC						Delaware
StepStone VC Secondaries GP VI LLC						Delaware
StepStone VC Secondaries VI (Lux) General Partner						Luxembourg
StepStone VC Secondaries VI (Lux) General Partner S.à r.l.						Luxembourg
StepStone VC Tilad GP LLC						Delaware
StepStone VC Zilker GP LLC						Delaware
VG Co-Investment EU PD						Luxembourg

7