StepStone Expands into U.S. Defined Contribution with BlackRock Veteran

Event summary

  • StepStone Group Inc. hired Taylor Benson as Head of U.S. Defined Contribution on May 18, 2026.
  • Benson previously served as Managing Director and Head of the East Coast Institutional Defined Contribution Team at BlackRock.
  • StepStone is developing retirement-focused collective investment trust (CIT) structures across private equity, infrastructure, and private debt.
  • As of December 31, 2025, StepStone managed approximately $811 billion of total capital, including $220 billion of assets under management.

The big picture

StepStone's move into U.S. defined contribution reflects growing demand for private markets exposure in retirement portfolios. The hire of Taylor Benson, a BlackRock veteran, underscores the firm's commitment to integrating institutional private markets expertise into retirement programs. With $220 billion in assets under management, StepStone is positioning itself to capitalize on the shift towards diversified private markets solutions within a disciplined fiduciary framework.

What we're watching

Market Penetration
How StepStone will differentiate its retirement-focused CIT structures in a competitive U.S. defined contribution landscape.
Regulatory Alignment
Whether StepStone's fiduciary framework will align with evolving regulatory standards for private markets in retirement plans.
Execution Risk
The pace at which StepStone can scale its retirement business while maintaining governance standards and improving participant outcomes.