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            <filer>
                <filerCredentials>
                    <cik>0001821978</cik>
                    <ccc>XXXXXXXX</ccc>
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            <liveTestFlag>LIVE</liveTestFlag>



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    <formData>
        <issuerInfo>
            <issuerCik>0001796022</issuerCik>
            <issuerName>STEPSTONE GROUP INC.</issuerName>
            <secFileNumber>001-39510</secFileNumber>
            <issuerAddress>
                <ns2:street1>277 Park Avenue</ns2:street1>
                <ns2:street2>45th Floor</ns2:street2>
                <ns2:city>NEW YORK</ns2:city>
                <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                <ns2:zipCode>10172</ns2:zipCode>
            </issuerAddress>
            <issuerContactPhone>1-212-351-6100</issuerContactPhone>
            <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>THOMAS &amp; ANTOINETTE KECK TRUST</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
            <relationshipsToIssuer>
                <relationshipToIssuer>Officer</relationshipToIssuer>
            </relationshipsToIssuer>
        </issuerInfo>
        <securitiesInformation>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <brokerOrMarketmakerDetails>
                <name>Morgan Stanley Smith Barney LLC Executive Financial Services</name>
                <address>
                    <ns2:street1>1 New York Plaza</ns2:street1>
                    <ns2:street2>38th Floor</ns2:street2>
                    <ns2:city>New York</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10004</ns2:zipCode>
                </address>
            </brokerOrMarketmakerDetails>
            <noOfUnitsSold>48662</noOfUnitsSold>
            <aggregateMarketValue>1736391.55</aggregateMarketValue>
            <noOfUnitsOutstanding>64077566</noOfUnitsOutstanding>
            <approxSaleDate>02/22/2024</approxSaleDate>
            <securitiesExchangeName>NASDAQ</securitiesExchangeName>
        </securitiesInformation>
        <securitiesToBeSold>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <acquiredDate>12/15/2021</acquiredDate>
            <natureOfAcquisitionTransaction>Founder Stock</natureOfAcquisitionTransaction>
            <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
            <isGiftTransaction>N</isGiftTransaction>
            <amountOfSecuritiesAcquired>48662</amountOfSecuritiesAcquired>
            <paymentDate>12/15/2021</paymentDate>
            <natureOfPayment>Services Rendered</natureOfPayment>
        </securitiesToBeSold>
        <nothingToReportFlagOnSecuritiesSoldInPast3Months>N</nothingToReportFlagOnSecuritiesSoldInPast3Months>
        <securitiesSoldInPast3Months>
            <sellerDetails>
                <name>T KECK &amp; A KECK CO-TTEE THOMAS &amp; ANTOINETTE KECK TR.</name>
                <address>
                    <ns2:street1>277 Park Avenue</ns2:street1>
                    <ns2:street2>45th Floor</ns2:street2>
                    <ns2:city>NEW YORK</ns2:city>
                    <ns2:stateOrCountry>NY</ns2:stateOrCountry>
                    <ns2:zipCode>10172</ns2:zipCode>
                </address>
            </sellerDetails>
            <securitiesClassTitle>Common</securitiesClassTitle>
            <saleDate>02/21/2024</saleDate>
            <amountOfSecuritiesSold>24241</amountOfSecuritiesSold>
            <grossProceeds>850813.04</grossProceeds>
        </securitiesSoldInPast3Months>
        <noticeSignature>
            <noticeDate>02/22/2024</noticeDate>
            <planAdoptionDates/>
            <signature>/s/ Thomas Keck, Trustee</signature>
        </noticeSignature>
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144
0001821978
XXXXXXXX
LIVE
0001796022
STEPSTONE GROUP INC.
001-39510
277 Park Avenue
45th Floor
NEW YORK
NY
10172
1-212-351-6100
THOMAS & ANTOINETTE KECK TRUST
Officer
Common
Morgan Stanley Smith Barney LLC Executive Financial Services
1 New York Plaza
38th Floor
New York
NY
10004
48662
1736391.55
64077566
02/22/2024
NASDAQ
Common
12/15/2021
Founder Stock
Issuer
N
48662
12/15/2021
Services Rendered
N
T KECK & A KECK CO-TTEE THOMAS & ANTOINETTE KECK TR.
277 Park Avenue
45th Floor
NEW YORK
NY
10172
Common
02/21/2024
24241
850813.04
02/22/2024
/s/ Thomas Keck, Trustee