<?xml version="1.0" encoding="UTF-8"?>

<!--XBRL Document Created with Wdesk from Workiva-->
<!--Copyright 2020 Workiva-->
<!--r:beb604ec-df2d-4c8d-a46a-74b8934611f2,g:f2b55437-1157-47a1-9032-0a0404c1ea52-->
<link:linkbase xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CoverPage" xlink:type="simple" xlink:href="step-20200930.xsd#CoverPage"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CoverPage" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CondensedConsolidatedBalanceSheetsUnaudited" xlink:type="simple" xlink:href="step-20200930.xsd#CondensedConsolidatedBalanceSheetsUnaudited"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CondensedConsolidatedBalanceSheetsUnaudited" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PartnersCapital_5dc49b37-be2e-42b6-bf4b-1ddc7bd35a66" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PartnersCapital"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_98058d31-998f-4c2a-817d-bf363644c22d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PartnersCapital_5dc49b37-be2e-42b6-bf4b-1ddc7bd35a66" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_98058d31-998f-4c2a-817d-bf363644c22d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LimitedPartnersCapitalAccount_e04b26ac-587f-44d6-8a5c-454bd6528e51" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LimitedPartnersCapitalAccount"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PartnersCapital_5dc49b37-be2e-42b6-bf4b-1ddc7bd35a66" xlink:to="loc_us-gaap_LimitedPartnersCapitalAccount_e04b26ac-587f-44d6-8a5c-454bd6528e51" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_04071400-0917-4998-848a-c73c3d2675dd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PartnersCapital_5dc49b37-be2e-42b6-bf4b-1ddc7bd35a66" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_04071400-0917-4998-848a-c73c3d2675dd" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_46dc258e-2ff0-4015-983d-08caa76ee447" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_90b7057e-12b6-4e4f-bc89-b6677ef6461b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_46dc258e-2ff0-4015-983d-08caa76ee447" xlink:to="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_90b7057e-12b6-4e4f-bc89-b6677ef6461b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_3804653d-c108-4649-a2c1-500f166303c7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Liabilities"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_46dc258e-2ff0-4015-983d-08caa76ee447" xlink:to="loc_us-gaap_Liabilities_3804653d-c108-4649-a2c1-500f166303c7" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies_15d11ac4-101a-48c8-b6d8-5804c890adef" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_46dc258e-2ff0-4015-983d-08caa76ee447" xlink:to="loc_us-gaap_CommitmentsAndContingencies_15d11ac4-101a-48c8-b6d8-5804c890adef" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Assets_5ac632e0-95ce-41f3-beff-a3d91a31c05a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Assets"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DueFromRelatedParties_2c84e282-a970-49b8-9ca5-24f0075a9572" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DueFromRelatedParties"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_5ac632e0-95ce-41f3-beff-a3d91a31c05a" xlink:to="loc_us-gaap_DueFromRelatedParties_2c84e282-a970-49b8-9ca5-24f0075a9572" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Goodwill_5c2e1c98-b99e-4d55-a0e7-7a3d91494605" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Goodwill"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_5ac632e0-95ce-41f3-beff-a3d91a31c05a" xlink:to="loc_us-gaap_Goodwill_5c2e1c98-b99e-4d55-a0e7-7a3d91494605" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherAssets_1382acd0-a918-447f-bd7b-66d8bae98d08" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherAssets"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_5ac632e0-95ce-41f3-beff-a3d91a31c05a" xlink:to="loc_us-gaap_OtherAssets_1382acd0-a918-447f-bd7b-66d8bae98d08" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_e8f9c76d-0f1e-4dce-bfd1-0fccca05990b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_5ac632e0-95ce-41f3-beff-a3d91a31c05a" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_e8f9c76d-0f1e-4dce-bfd1-0fccca05990b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_EquityMethodInvestmentsExcludingAccruedCarriedInterestAllocations_05149589-b972-40e5-9c56-8c913f9e961c" xlink:href="step-20200930.xsd#step_EquityMethodInvestmentsExcludingAccruedCarriedInterestAllocations"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_5ac632e0-95ce-41f3-beff-a3d91a31c05a" xlink:to="loc_step_EquityMethodInvestmentsExcludingAccruedCarriedInterestAllocations_05149589-b972-40e5-9c56-8c913f9e961c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsReceivableNet_f73e5e66-7951-40f3-9b6c-136dab291a3a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsReceivableNet"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_5ac632e0-95ce-41f3-beff-a3d91a31c05a" xlink:to="loc_us-gaap_AccountsReceivableNet_f73e5e66-7951-40f3-9b6c-136dab291a3a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_8673bc79-df1d-4f3d-b32d-42b69bde0726" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IntangibleAssetsNetExcludingGoodwill"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_5ac632e0-95ce-41f3-beff-a3d91a31c05a" xlink:to="loc_us-gaap_IntangibleAssetsNetExcludingGoodwill_8673bc79-df1d-4f3d-b32d-42b69bde0726" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_EquityMethodInvestmentsAccruedCarriedInterestAllocations_88c89ebc-8e2e-4944-a01d-3113b2d47843" xlink:href="step-20200930.xsd#step_EquityMethodInvestmentsAccruedCarriedInterestAllocations"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_5ac632e0-95ce-41f3-beff-a3d91a31c05a" xlink:to="loc_step_EquityMethodInvestmentsAccruedCarriedInterestAllocations_88c89ebc-8e2e-4944-a01d-3113b2d47843" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxAssetsNet_0f81c7ee-5d11-4972-abf5-cf00d7d69ab3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxAssetsNet"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_5ac632e0-95ce-41f3-beff-a3d91a31c05a" xlink:to="loc_us-gaap_DeferredIncomeTaxAssetsNet_0f81c7ee-5d11-4972-abf5-cf00d7d69ab3" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCash_060bae48-68d9-43e7-ac33-8820035494c6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCash"/>
    <link:calculationArc order="10" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Assets_5ac632e0-95ce-41f3-beff-a3d91a31c05a" xlink:to="loc_us-gaap_RestrictedCash_060bae48-68d9-43e7-ac33-8820035494c6" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_04ae7d96-9068-4e98-9a54-87b2675a0be4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_c488908f-b97e-40d1-96d1-cb09db40a685" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_04ae7d96-9068-4e98-9a54-87b2675a0be4" xlink:to="loc_us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_c488908f-b97e-40d1-96d1-cb09db40a685" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommonStockValue_8d8676b2-18fc-4a2d-83e1-6a9b57f2ccc8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommonStockValue"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_04ae7d96-9068-4e98-9a54-87b2675a0be4" xlink:to="loc_us-gaap_CommonStockValue_8d8676b2-18fc-4a2d-83e1-6a9b57f2ccc8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AdditionalPaidInCapital_30a81d31-7287-4f2f-92b3-470377ee151d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AdditionalPaidInCapital"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_04ae7d96-9068-4e98-9a54-87b2675a0be4" xlink:to="loc_us-gaap_AdditionalPaidInCapital_30a81d31-7287-4f2f-92b3-470377ee151d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RetainedEarningsAccumulatedDeficit_b51ae5ab-c1ba-4948-afe1-36e67c12070e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquity_04ae7d96-9068-4e98-9a54-87b2675a0be4" xlink:to="loc_us-gaap_RetainedEarningsAccumulatedDeficit_b51ae5ab-c1ba-4948-afe1-36e67c12070e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_c5c66ba9-f7e5-4b35-a6e5-55c79671ad11" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Liabilities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LongTermDebt_e18d4649-c14f-4205-9a10-ee31f7485fd8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LongTermDebt"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_c5c66ba9-f7e5-4b35-a6e5-55c79671ad11" xlink:to="loc_us-gaap_LongTermDebt_e18d4649-c14f-4205-9a10-ee31f7485fd8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_46c48ec0-1d30-4296-861c-49b3ed9b4c5b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DueToRelatedPartiesCurrentAndNoncurrent"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_c5c66ba9-f7e5-4b35-a6e5-55c79671ad11" xlink:to="loc_us-gaap_DueToRelatedPartiesCurrentAndNoncurrent_46c48ec0-1d30-4296-861c-49b3ed9b4c5b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_EquityMethodInvestmentAccruedCarriedInterestRelatedCompensationPayable_d7e20ccf-e292-4102-bfe3-4cc1cd25398b" xlink:href="step-20200930.xsd#step_EquityMethodInvestmentAccruedCarriedInterestRelatedCompensationPayable"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_c5c66ba9-f7e5-4b35-a6e5-55c79671ad11" xlink:to="loc_step_EquityMethodInvestmentAccruedCarriedInterestRelatedCompensationPayable_d7e20ccf-e292-4102-bfe3-4cc1cd25398b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AccountsPayableAndOtherAccruedLiabilities_07c30464-35cd-4415-9543-427f6f2ca753" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AccountsPayableAndOtherAccruedLiabilities"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_c5c66ba9-f7e5-4b35-a6e5-55c79671ad11" xlink:to="loc_us-gaap_AccountsPayableAndOtherAccruedLiabilities_07c30464-35cd-4415-9543-427f6f2ca753" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_a352094a-fce7-4b78-8574-d2ef1b423956" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Liabilities_c5c66ba9-f7e5-4b35-a6e5-55c79671ad11" xlink:to="loc_us-gaap_EmployeeRelatedLiabilitiesCurrentAndNoncurrent_a352094a-fce7-4b78-8574-d2ef1b423956" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_ac4ef714-0b90-4a8c-a408-637d1720e4d0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MinorityInterest_1259f7b4-93ab-4cf8-b832-8e334ebc8b18" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MinorityInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_ac4ef714-0b90-4a8c-a408-637d1720e4d0" xlink:to="loc_us-gaap_MinorityInterest_1259f7b4-93ab-4cf8-b832-8e334ebc8b18" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_StockholdersEquity_08ee8b4b-2077-4922-a786-f94367295f27" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_StockholdersEquity"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_ac4ef714-0b90-4a8c-a408-637d1720e4d0" xlink:to="loc_us-gaap_StockholdersEquity_08ee8b4b-2077-4922-a786-f94367295f27" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_ba4119de-8498-429f-99ae-a440e63fcdc6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PartnersCapitalAttributableToNoncontrollingInterest_33d99899-17f8-4530-a657-b41db1efd796" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PartnersCapitalAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_ba4119de-8498-429f-99ae-a440e63fcdc6" xlink:to="loc_us-gaap_PartnersCapitalAttributableToNoncontrollingInterest_33d99899-17f8-4530-a657-b41db1efd796" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PartnersCapital_047fcdbe-421d-4a1d-a46f-0eacd710d6b3" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PartnersCapital"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_ba4119de-8498-429f-99ae-a440e63fcdc6" xlink:to="loc_us-gaap_PartnersCapital_047fcdbe-421d-4a1d-a46f-0eacd710d6b3" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CondensedConsolidatedBalanceSheetsUnaudited_1" xlink:type="simple" xlink:href="step-20200930.xsd#CondensedConsolidatedBalanceSheetsUnaudited_1"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CondensedConsolidatedBalanceSheetsUnaudited_1" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesAndStockholdersEquity_25f6f433-6ad6-4e1a-8869-c726f5188acf" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_362f1d5c-a06d-4486-b1f3-a5fdb186b86c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_25f6f433-6ad6-4e1a-8869-c726f5188acf" xlink:to="loc_us-gaap_PartnersCapitalIncludingPortionAttributableToNoncontrollingInterest_362f1d5c-a06d-4486-b1f3-a5fdb186b86c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Liabilities_ea0238d8-061b-42c8-8fa6-5b60b3bc6f99" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Liabilities"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_25f6f433-6ad6-4e1a-8869-c726f5188acf" xlink:to="loc_us-gaap_Liabilities_ea0238d8-061b-42c8-8fa6-5b60b3bc6f99" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CommitmentsAndContingencies_d38130e9-1c61-421e-b536-78b5a271c5c6" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CommitmentsAndContingencies"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesAndStockholdersEquity_25f6f433-6ad6-4e1a-8869-c726f5188acf" xlink:to="loc_us-gaap_CommitmentsAndContingencies_d38130e9-1c61-421e-b536-78b5a271c5c6" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CondensedConsolidatedBalanceSheetsUnauditedParenthetical" xlink:type="simple" xlink:href="step-20200930.xsd#CondensedConsolidatedBalanceSheetsUnauditedParenthetical"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CondensedConsolidatedBalanceSheetsUnauditedParenthetical" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CondensedConsolidatedStatementsofIncomeLossUnaudited" xlink:type="simple" xlink:href="step-20200930.xsd#CondensedConsolidatedStatementsofIncomeLossUnaudited"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CondensedConsolidatedStatementsofIncomeLossUnaudited" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_64a7de44-ff08-4b05-aade-11734d7630f8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses_479b633b-270e-4d31-a480-2a010c0fff0a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostsAndExpenses"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_64a7de44-ff08-4b05-aade-11734d7630f8" xlink:to="loc_us-gaap_CostsAndExpenses_479b633b-270e-4d31-a480-2a010c0fff0a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense_181768e1-befe-4fea-8a6a-c4808a4784fc" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NonoperatingIncomeExpense"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_64a7de44-ff08-4b05-aade-11734d7630f8" xlink:to="loc_us-gaap_NonoperatingIncomeExpense_181768e1-befe-4fea-8a6a-c4808a4784fc" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues_58e58648-8ae3-493b-acdb-1e9f6b8ed12c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_64a7de44-ff08-4b05-aade-11734d7630f8" xlink:to="loc_us-gaap_Revenues_58e58648-8ae3-493b-acdb-1e9f6b8ed12c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_Revenues_cd95ed96-0799-44c4-8ca5-48f032cde3cf" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_Revenues"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueNotFromContractWithCustomer_e7518d20-23c4-437c-a2c7-2c9181689c77" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueNotFromContractWithCustomer"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_cd95ed96-0799-44c4-8ca5-48f032cde3cf" xlink:to="loc_us-gaap_RevenueNotFromContractWithCustomer_e7518d20-23c4-437c-a2c7-2c9181689c77" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_2bf9cd5b-062e-42b3-99f9-8b736784088f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_Revenues_cd95ed96-0799-44c4-8ca5-48f032cde3cf" xlink:to="loc_us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax_2bf9cd5b-062e-42b3-99f9-8b736784088f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NonoperatingIncomeExpense_cfcd7558-1572-4903-a152-406a761f769a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NonoperatingIncomeExpense"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InterestExpense_edba2aa6-ad43-4ca6-9cca-ab6391bb43ff" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InterestExpense"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_cfcd7558-1572-4903-a152-406a761f769a" xlink:to="loc_us-gaap_InterestExpense_edba2aa6-ad43-4ca6-9cca-ab6391bb43ff" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromEquityMethodInvestments_51421ea3-ba94-49ae-bb81-1a79a797f498" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromEquityMethodInvestments"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_cfcd7558-1572-4903-a152-406a761f769a" xlink:to="loc_us-gaap_IncomeLossFromEquityMethodInvestments_51421ea3-ba94-49ae-bb81-1a79a797f498" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherNonoperatingIncomeExpense_a857ef2a-70dd-45a8-a8d7-c3075f5d25ee" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherNonoperatingIncomeExpense"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_cfcd7558-1572-4903-a152-406a761f769a" xlink:to="loc_us-gaap_OtherNonoperatingIncomeExpense_a857ef2a-70dd-45a8-a8d7-c3075f5d25ee" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_InvestmentIncomeInterest_4793ad19-941a-4bdd-8066-d82858b79c81" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_InvestmentIncomeInterest"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NonoperatingIncomeExpense_cfcd7558-1572-4903-a152-406a761f769a" xlink:to="loc_us-gaap_InvestmentIncomeInterest_4793ad19-941a-4bdd-8066-d82858b79c81" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_15c241dc-c48f-47e2-ad8d-3dd69d652040" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_5b98668f-b879-4b4d-966f-32a5997ac0dd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_15c241dc-c48f-47e2-ad8d-3dd69d652040" xlink:to="loc_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_5b98668f-b879-4b4d-966f-32a5997ac0dd" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncomeTaxExpenseBenefit_1a6d3f8f-1cd7-4b03-90af-3b03734d1392" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ProfitLoss_15c241dc-c48f-47e2-ad8d-3dd69d652040" xlink:to="loc_us-gaap_IncomeTaxExpenseBenefit_1a6d3f8f-1cd7-4b03-90af-3b03734d1392" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CostsAndExpenses_be46c8b0-1c35-483a-9320-22dc448b44e1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CostsAndExpenses"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_CompensationAndBenefitsExpense_7199655c-abcd-420c-9c62-772596a2185f" xlink:href="step-20200930.xsd#step_CompensationAndBenefitsExpense"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_be46c8b0-1c35-483a-9320-22dc448b44e1" xlink:to="loc_step_CompensationAndBenefitsExpense_7199655c-abcd-420c-9c62-772596a2185f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_GeneralAndAdministrativeExpense_7e42abc4-aa80-4643-8288-105fc7a37d1e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_GeneralAndAdministrativeExpense"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CostsAndExpenses_be46c8b0-1c35-483a-9320-22dc448b44e1" xlink:to="loc_us-gaap_GeneralAndAdministrativeExpense_7e42abc4-aa80-4643-8288-105fc7a37d1e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_CompensationAndBenefitsExpense_7a5ac776-a582-4bec-985c-7efb12e40440" xlink:href="step-20200930.xsd#step_CompensationAndBenefitsExpense"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_AllocatedShareBasedCompensationExpense_b84c7a07-1d92-4014-a71a-fd4f426a26e0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_step_CompensationAndBenefitsExpense_7a5ac776-a582-4bec-985c-7efb12e40440" xlink:to="loc_us-gaap_AllocatedShareBasedCompensationExpense_b84c7a07-1d92-4014-a71a-fd4f426a26e0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocation_92b579d2-00f6-4a4b-944f-776b59709c29" xlink:href="step-20200930.xsd#step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocation"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_step_CompensationAndBenefitsExpense_7a5ac776-a582-4bec-985c-7efb12e40440" xlink:to="loc_step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocation_92b579d2-00f6-4a4b-944f-776b59709c29" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_CompensationExpenseCashBasedCompensationAndBenefits_b7f995af-0466-4528-81c2-9a36e193b395" xlink:href="step-20200930.xsd#step_CompensationExpenseCashBasedCompensationAndBenefits"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_step_CompensationAndBenefitsExpense_7a5ac776-a582-4bec-985c-7efb12e40440" xlink:to="loc_step_CompensationExpenseCashBasedCompensationAndBenefits_b7f995af-0466-4528-81c2-9a36e193b395" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocation_3c30bb09-5d59-49cf-8ebc-f93522fd17b0" xlink:href="step-20200930.xsd#step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocation"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocationUnrealized_446036c0-8978-4bc6-b586-550255edc25e" xlink:href="step-20200930.xsd#step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocationUnrealized"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocation_3c30bb09-5d59-49cf-8ebc-f93522fd17b0" xlink:to="loc_step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocationUnrealized_446036c0-8978-4bc6-b586-550255edc25e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocationRealized_8d08c776-7928-4f79-bd98-b2539c3f2299" xlink:href="step-20200930.xsd#step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocationRealized"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocation_3c30bb09-5d59-49cf-8ebc-f93522fd17b0" xlink:to="loc_step_PerformanceFeeRelatedCompensationRelatedToCarriedInterestAllocationRealized_8d08c776-7928-4f79-bd98-b2539c3f2299" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLoss_cc73bbb8-cfb0-463c-a951-e25d3fadabae" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLoss"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_47d5e1b0-853f-4132-829b-d3396b6c79c8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_cc73bbb8-cfb0-463c-a951-e25d3fadabae" xlink:to="loc_us-gaap_ProfitLoss_47d5e1b0-853f-4132-829b-d3396b6c79c8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_7d93db86-9db3-4160-b4fc-c9ea71553e44" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetIncomeLoss_cc73bbb8-cfb0-463c-a951-e25d3fadabae" xlink:to="loc_us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_7d93db86-9db3-4160-b4fc-c9ea71553e44" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CondensedConsolidatedStatementsofIncomeLossUnauditedParenthetical" xlink:type="simple" xlink:href="step-20200930.xsd#CondensedConsolidatedStatementsofIncomeLossUnauditedParenthetical"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CondensedConsolidatedStatementsofIncomeLossUnauditedParenthetical" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CondensedConsolidatedStatementsofComprehensiveIncomeLossUnaudited" xlink:type="simple" xlink:href="step-20200930.xsd#CondensedConsolidatedStatementsofComprehensiveIncomeLossUnaudited"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CondensedConsolidatedStatementsofComprehensiveIncomeLossUnaudited" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_bb4b3c2d-b0e4-4707-a733-ec94f65a6d5b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_dc769e6e-9442-4476-9b5a-5019622c668e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_bb4b3c2d-b0e4-4707-a733-ec94f65a6d5b" xlink:to="loc_us-gaap_ProfitLoss_dc769e6e-9442-4476-9b5a-5019622c668e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_0fb4e490-25b4-48ec-bc8d-d2a725764e18" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_bb4b3c2d-b0e4-4707-a733-ec94f65a6d5b" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_0fb4e490-25b4-48ec-bc8d-d2a725764e18" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTax_e1407f3b-3d09-487a-8e8d-38d94202d6c7" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_5ca21401-85d8-40f7-aaf5-dcef3327b74f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_e1407f3b-3d09-487a-8e8d-38d94202d6c7" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest_5ca21401-85d8-40f7-aaf5-dcef3327b74f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_3419025c-6c5d-4874-b068-4465148fe0ad" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_ComprehensiveIncomeNetOfTax_e1407f3b-3d09-487a-8e8d-38d94202d6c7" xlink:to="loc_us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest_3419025c-6c5d-4874-b068-4465148fe0ad" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_bbf8b382-790b-468e-a96b-681f0c2d97fd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTax"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_68e4d809-7027-45ad-bc75-5e7a13d1610f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OtherComprehensiveIncomeLossNetOfTax_bbf8b382-790b-468e-a96b-681f0c2d97fd" xlink:to="loc_us-gaap_OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax_68e4d809-7027-45ad-bc75-5e7a13d1610f" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CondensedConsolidatedStatementsofStockholdersEquityUnaudited" xlink:type="simple" xlink:href="step-20200930.xsd#CondensedConsolidatedStatementsofStockholdersEquityUnaudited"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CondensedConsolidatedStatementsofStockholdersEquityUnaudited" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CondensedConsolidatedStatementsofCashFlowsUnaudited" xlink:type="simple" xlink:href="step-20200930.xsd#CondensedConsolidatedStatementsofCashFlowsUnaudited"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CondensedConsolidatedStatementsofCashFlowsUnaudited" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_e622f18a-58de-4371-992e-2249986f2543" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments_6e4f8381-47b0-4589-9dbc-b276c5c24f1f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireEquityMethodInvestments"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_e622f18a-58de-4371-992e-2249986f2543" xlink:to="loc_us-gaap_PaymentsToAcquireEquityMethodInvestments_6e4f8381-47b0-4589-9dbc-b276c5c24f1f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquireMarketableSecurities_a0922783-6d43-4f73-b3e9-e9043176aba0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquireMarketableSecurities"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_e622f18a-58de-4371-992e-2249986f2543" xlink:to="loc_us-gaap_PaymentsToAcquireMarketableSecurities_a0922783-6d43-4f73-b3e9-e9043176aba0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities_ba5b580a-3c62-48a4-a2f0-cdc8bd1d22c1" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_e622f18a-58de-4371-992e-2249986f2543" xlink:to="loc_us-gaap_ProceedsFromSaleAndMaturityOfMarketableSecurities_ba5b580a-3c62-48a4-a2f0-cdc8bd1d22c1" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_79726043-f645-435a-acfa-d61fe98ada07" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_e622f18a-58de-4371-992e-2249986f2543" xlink:to="loc_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_79726043-f645-435a-acfa-d61fe98ada07" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_407ac35f-f5f3-402b-acc5-fbc7f306617e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_e622f18a-58de-4371-992e-2249986f2543" xlink:to="loc_us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital_407ac35f-f5f3-402b-acc5-fbc7f306617e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_950484c1-6920-42d5-b998-0d064e79af14" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_a3e7ef56-59a9-4e44-ad08-9ebbf2537f47" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_950484c1-6920-42d5-b998-0d064e79af14" xlink:to="loc_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_a3e7ef56-59a9-4e44-ad08-9ebbf2537f47" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_32ef1b7b-1d62-4337-bd97-1d69f475508e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_950484c1-6920-42d5-b998-0d064e79af14" xlink:to="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_32ef1b7b-1d62-4337-bd97-1d69f475508e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_5be6bd2a-9617-4b5d-8f2a-9425b7be15d0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_950484c1-6920-42d5-b998-0d064e79af14" xlink:to="loc_us-gaap_NetCashProvidedByUsedInInvestingActivities_5be6bd2a-9617-4b5d-8f2a-9425b7be15d0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ebf91755-75cf-44a2-8c55-71e48eab47b2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect_950484c1-6920-42d5-b998-0d064e79af14" xlink:to="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_ebf91755-75cf-44a2-8c55-71e48eab47b2" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_78715927-43c3-40db-baa7-ffa5e1756043" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RestrictedCash_88e2df9f-faad-4f30-b8a7-22be44661ab4" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RestrictedCash"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_78715927-43c3-40db-baa7-ffa5e1756043" xlink:to="loc_us-gaap_RestrictedCash_88e2df9f-faad-4f30-b8a7-22be44661ab4" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_3baeac7f-8c40-41d6-ac2f-d9ba2baf032b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_78715927-43c3-40db-baa7-ffa5e1756043" xlink:to="loc_us-gaap_CashAndCashEquivalentsAtCarryingValue_3baeac7f-8c40-41d6-ac2f-d9ba2baf032b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProfitLoss_6649b269-3349-4e1f-b2d9-0b279e2721ff" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProfitLoss"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_ProfitLoss_6649b269-3349-4e1f-b2d9-0b279e2721ff" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInDueFromRelatedParties_8fcb538b-5d6f-456d-8774-74f96e3082b0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInDueFromRelatedParties"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_IncreaseDecreaseInDueFromRelatedParties_8fcb538b-5d6f-456d-8774-74f96e3082b0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_IncreaseDecreaseInAccruedCarriedInterestRelatedCompensationPayable_649117be-4fe4-44de-bf32-d30014ffd466" xlink:href="step-20200930.xsd#step_IncreaseDecreaseInAccruedCarriedInterestRelatedCompensationPayable"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_step_IncreaseDecreaseInAccruedCarriedInterestRelatedCompensationPayable_649117be-4fe4-44de-bf32-d30014ffd466" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInDueToRelatedParties_dd44ab4b-6117-44df-b15a-ee35f076ac2c" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInDueToRelatedParties"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_IncreaseDecreaseInDueToRelatedParties_dd44ab4b-6117-44df-b15a-ee35f076ac2c" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DepreciationDepletionAndAmortization_83fa060b-ce7f-425d-b8f3-12bf8e305618" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DepreciationDepletionAndAmortization"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_DepreciationDepletionAndAmortization_83fa060b-ce7f-425d-b8f3-12bf8e305618" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_7a027d93-be1e-443c-adde-728eae9f2985" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherOperatingAssets"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherOperatingAssets_7a027d93-be1e-443c-adde-728eae9f2985" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ShareBasedCompensation_25020a0f-97cc-4876-acbf-fbb84102f1f0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ShareBasedCompensation"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_ShareBasedCompensation_25020a0f-97cc-4876-acbf-fbb84102f1f0" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_6c1e6436-e456-49d2-8d1e-0190e7cb8216" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities"/>
    <link:calculationArc order="8" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_IncreaseDecreaseInEmployeeRelatedLiabilities_6c1e6436-e456-49d2-8d1e-0190e7cb8216" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_DeferredIncomeTaxesAndTaxCredits_4b0ff7b1-4f7a-4bda-bf98-95b2d389d480" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_DeferredIncomeTaxesAndTaxCredits"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_DeferredIncomeTaxesAndTaxCredits_4b0ff7b1-4f7a-4bda-bf98-95b2d389d480" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_CarriedInterestAllocationAndInvestmentIncomeUnrealizedGainLoss_86eaeb43-22cc-4628-a23f-9573ee7862f9" xlink:href="step-20200930.xsd#step_CarriedInterestAllocationAndInvestmentIncomeUnrealizedGainLoss"/>
    <link:calculationArc order="10" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_step_CarriedInterestAllocationAndInvestmentIncomeUnrealizedGainLoss_86eaeb43-22cc-4628-a23f-9573ee7862f9" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_MarketableSecuritiesUnrealizedGainLoss_828b33b7-5905-4212-ae7e-5e9ea26febea" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_MarketableSecuritiesUnrealizedGainLoss"/>
    <link:calculationArc order="11" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_MarketableSecuritiesUnrealizedGainLoss_828b33b7-5905-4212-ae7e-5e9ea26febea" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_8176b6b2-fe61-422c-a070-afda0c40c46e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable"/>
    <link:calculationArc order="12" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_IncreaseDecreaseInAccountsReceivable_8176b6b2-fe61-422c-a070-afda0c40c46e" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_WriteOffOfDeferredDebtIssuanceCost_72dbd5f5-1010-4818-9fa0-b74a17d2f754" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_WriteOffOfDeferredDebtIssuanceCost"/>
    <link:calculationArc order="13" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_WriteOffOfDeferredDebtIssuanceCost_72dbd5f5-1010-4818-9fa0-b74a17d2f754" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities_ce925644-666d-4bd5-91ed-cc2dcdf8d8ce" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities"/>
    <link:calculationArc order="14" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInOperatingActivities_7cdfb3b4-f693-407f-bcb7-9afebecbb89a" xlink:to="loc_us-gaap_IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities_ce925644-666d-4bd5-91ed-cc2dcdf8d8ce" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1c4b8149-727b-482b-b119-89450058e380" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfStockIssuanceCosts_69e4b44c-eba1-449b-9c0c-8dcb34e3a985" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfStockIssuanceCosts"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1c4b8149-727b-482b-b119-89450058e380" xlink:to="loc_us-gaap_PaymentsOfStockIssuanceCosts_69e4b44c-eba1-449b-9c0c-8dcb34e3a985" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsOfDividendsMinorityInterest_556c4202-fa05-4a93-8d9f-283046d63fea" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsOfDividendsMinorityInterest"/>
    <link:calculationArc order="2" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1c4b8149-727b-482b-b119-89450058e380" xlink:to="loc_us-gaap_PaymentsOfDividendsMinorityInterest_556c4202-fa05-4a93-8d9f-283046d63fea" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_75f023fc-271f-42c3-89c7-c02a0c8f9ffb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromPaymentsForOtherFinancingActivities"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1c4b8149-727b-482b-b119-89450058e380" xlink:to="loc_us-gaap_ProceedsFromPaymentsForOtherFinancingActivities_75f023fc-271f-42c3-89c7-c02a0c8f9ffb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentForContingentConsiderationLiabilityFinancingActivities_c415e2b1-1002-464a-ba06-6be4c5041787" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentForContingentConsiderationLiabilityFinancingActivities"/>
    <link:calculationArc order="4" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1c4b8149-727b-482b-b119-89450058e380" xlink:to="loc_us-gaap_PaymentForContingentConsiderationLiabilityFinancingActivities_c415e2b1-1002-464a-ba06-6be4c5041787" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromIssuanceInitialPublicOffering_20c762c8-eaf2-4ccb-a04d-2dd9c48f6621" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromIssuanceInitialPublicOffering"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1c4b8149-727b-482b-b119-89450058e380" xlink:to="loc_us-gaap_ProceedsFromIssuanceInitialPublicOffering_20c762c8-eaf2-4ccb-a04d-2dd9c48f6621" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_PaymentsToMinorityShareholders_91c7b356-700a-427f-9dfe-e5d1bd79d3eb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_PaymentsToMinorityShareholders"/>
    <link:calculationArc order="6" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1c4b8149-727b-482b-b119-89450058e380" xlink:to="loc_us-gaap_PaymentsToMinorityShareholders_91c7b356-700a-427f-9dfe-e5d1bd79d3eb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromMinorityShareholders_55bcbf80-71ed-42bb-800c-00995c88c72d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromMinorityShareholders"/>
    <link:calculationArc order="7" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1c4b8149-727b-482b-b119-89450058e380" xlink:to="loc_us-gaap_ProceedsFromMinorityShareholders_55bcbf80-71ed-42bb-800c-00995c88c72d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_RepaymentsOfLongTermDebt_3253a61f-9607-4aae-9fec-417807da256a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_RepaymentsOfLongTermDebt"/>
    <link:calculationArc order="8" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1c4b8149-727b-482b-b119-89450058e380" xlink:to="loc_us-gaap_RepaymentsOfLongTermDebt_3253a61f-9607-4aae-9fec-417807da256a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_ProceedsFromPartnershipContribution_eec72c84-68b6-4d83-b393-fde0c6ccd8a0" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_ProceedsFromPartnershipContribution"/>
    <link:calculationArc order="9" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_NetCashProvidedByUsedInFinancingActivities_1c4b8149-727b-482b-b119-89450058e380" xlink:to="loc_us-gaap_ProceedsFromPartnershipContribution_eec72c84-68b6-4d83-b393-fde0c6ccd8a0" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/Organization" xlink:type="simple" xlink:href="step-20200930.xsd#Organization"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/Organization" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/OrganizationDetails" xlink:type="simple" xlink:href="step-20200930.xsd#OrganizationDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/OrganizationDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/SummaryofSignificantAccountingPolicies" xlink:type="simple" xlink:href="step-20200930.xsd#SummaryofSignificantAccountingPolicies"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/SummaryofSignificantAccountingPolicies" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/SummaryofSignificantAccountingPoliciesPolicies" xlink:type="simple" xlink:href="step-20200930.xsd#SummaryofSignificantAccountingPoliciesPolicies"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/SummaryofSignificantAccountingPoliciesPolicies" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/SummaryofSignificantAccountingPoliciesTables" xlink:type="simple" xlink:href="step-20200930.xsd#SummaryofSignificantAccountingPoliciesTables"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/SummaryofSignificantAccountingPoliciesTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/SummaryofSignificantAccountingPoliciesNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#SummaryofSignificantAccountingPoliciesNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/SummaryofSignificantAccountingPoliciesNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/SummaryofSignificantAccountingPoliciesAOCIDetails" xlink:type="simple" xlink:href="step-20200930.xsd#SummaryofSignificantAccountingPoliciesAOCIDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/SummaryofSignificantAccountingPoliciesAOCIDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/Revenues" xlink:type="simple" xlink:href="step-20200930.xsd#Revenues"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/Revenues" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/RevenuesTables" xlink:type="simple" xlink:href="step-20200930.xsd#RevenuesTables"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/RevenuesTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/RevenuesScheduleofDisaggregationofRevenuebyProductOfferingDetails" xlink:type="simple" xlink:href="step-20200930.xsd#RevenuesScheduleofDisaggregationofRevenuebyProductOfferingDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/RevenuesScheduleofDisaggregationofRevenuebyProductOfferingDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/RevenuesScheduleofDisaggregationofRevenuebyGeographicLocationDetails" xlink:type="simple" xlink:href="step-20200930.xsd#RevenuesScheduleofDisaggregationofRevenuebyGeographicLocationDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/RevenuesScheduleofDisaggregationofRevenuebyGeographicLocationDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/RevenuesNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#RevenuesNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/RevenuesNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/VariableInterestEntities" xlink:type="simple" xlink:href="step-20200930.xsd#VariableInterestEntities"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/VariableInterestEntities" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/VariableInterestEntitiesTables" xlink:type="simple" xlink:href="step-20200930.xsd#VariableInterestEntitiesTables"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/VariableInterestEntitiesTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/VariableInterestEntitiesNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#VariableInterestEntitiesNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/VariableInterestEntitiesNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/VariableInterestEntitiesDetails" xlink:type="simple" xlink:href="step-20200930.xsd#VariableInterestEntitiesDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/VariableInterestEntitiesDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/Investments" xlink:type="simple" xlink:href="step-20200930.xsd#Investments"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/Investments" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/InvestmentsTables" xlink:type="simple" xlink:href="step-20200930.xsd#InvestmentsTables"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/InvestmentsTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/InvestmentsEquityMethodInvestmentsDetails" xlink:type="simple" xlink:href="step-20200930.xsd#InvestmentsEquityMethodInvestmentsDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/InvestmentsEquityMethodInvestmentsDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_EquityMethodInvestments_5de6832e-e7c2-4c0d-a685-d6088492eeb2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_EquityMethodInvestments"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_EquityMethodInvestmentsAccruedCarriedInterestAllocations_a8a9bbcd-f639-47eb-8025-87e5d70bda3b" xlink:href="step-20200930.xsd#step_EquityMethodInvestmentsAccruedCarriedInterestAllocations"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestments_5de6832e-e7c2-4c0d-a685-d6088492eeb2" xlink:to="loc_step_EquityMethodInvestmentsAccruedCarriedInterestAllocations_a8a9bbcd-f639-47eb-8025-87e5d70bda3b" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_EquityMethodInvestmentsExcludingAccruedCarriedInterestAllocations_7f088c88-9e85-440a-8b75-30e66235f0dc" xlink:href="step-20200930.xsd#step_EquityMethodInvestmentsExcludingAccruedCarriedInterestAllocations"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_EquityMethodInvestments_5de6832e-e7c2-4c0d-a685-d6088492eeb2" xlink:to="loc_step_EquityMethodInvestmentsExcludingAccruedCarriedInterestAllocations_7f088c88-9e85-440a-8b75-30e66235f0dc" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/InvestmentsNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#InvestmentsNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/InvestmentsNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/FairValueMeasurements" xlink:type="simple" xlink:href="step-20200930.xsd#FairValueMeasurements"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/FairValueMeasurements" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/FairValueMeasurementsTables" xlink:type="simple" xlink:href="step-20200930.xsd#FairValueMeasurementsTables"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/FairValueMeasurementsTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/FairValueMeasurementsScheduleofFairValueofLiabilitiesDetails" xlink:type="simple" xlink:href="step-20200930.xsd#FairValueMeasurementsScheduleofFairValueofLiabilitiesDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/FairValueMeasurementsScheduleofFairValueofLiabilitiesDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_LiabilitiesFairValueDisclosure_461bc6da-7f02-451d-bdf3-1a8ac20fe40e" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosure"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_BusinessCombinationContingentConsiderationLiability_ef4628ea-d306-48c4-9d85-11ce4fda107b" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_BusinessCombinationContingentConsiderationLiability"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_LiabilitiesFairValueDisclosure_461bc6da-7f02-451d-bdf3-1a8ac20fe40e" xlink:to="loc_us-gaap_BusinessCombinationContingentConsiderationLiability_ef4628ea-d306-48c4-9d85-11ce4fda107b" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/FairValueMeasurementsScheduleofChangesintheFairValueofLevelIIIFinancialInstrumentsDetails" xlink:type="simple" xlink:href="step-20200930.xsd#FairValueMeasurementsScheduleofChangesintheFairValueofLevelIIIFinancialInstrumentsDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/FairValueMeasurementsScheduleofChangesintheFairValueofLevelIIIFinancialInstrumentsDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/FairValueMeasurementsNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#FairValueMeasurementsNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/FairValueMeasurementsNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/IntangiblesandGoodwill" xlink:type="simple" xlink:href="step-20200930.xsd#IntangiblesandGoodwill"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/IntangiblesandGoodwill" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/IntangiblesandGoodwillTables" xlink:type="simple" xlink:href="step-20200930.xsd#IntangiblesandGoodwillTables"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/IntangiblesandGoodwillTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/IntangiblesandGoodwillScheduleofIntangiblesandGoodwillDetails" xlink:type="simple" xlink:href="step-20200930.xsd#IntangiblesandGoodwillScheduleofIntangiblesandGoodwillDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/IntangiblesandGoodwillScheduleofIntangiblesandGoodwillDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_265eb51b-bc4b-4871-b955-581033a98450" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_17e38e7d-61bb-4121-abdf-e54f0576bb67" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <link:calculationArc order="1" weight="-1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_265eb51b-bc4b-4871-b955-581033a98450" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_17e38e7d-61bb-4121-abdf-e54f0576bb67" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsGross_9398e02d-ea66-44c0-9669-0704d94d62b2" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsGross"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_265eb51b-bc4b-4871-b955-581033a98450" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsGross_9398e02d-ea66-44c0-9669-0704d94d62b2" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/IntangiblesandGoodwillNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#IntangiblesandGoodwillNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/IntangiblesandGoodwillNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/IntangiblesandGoodwillScheduleofIntangibleAssetsFutureAmortizationExpenseDetails" xlink:type="simple" xlink:href="step-20200930.xsd#IntangiblesandGoodwillScheduleofIntangibleAssetsFutureAmortizationExpenseDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/IntangiblesandGoodwillScheduleofIntangibleAssetsFutureAmortizationExpenseDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsNet_eea827d1-3f19-49b9-9d02-4298f8987982" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsNet"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_cceb10f8-6201-4b61-9656-868a84e6ad9d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_eea827d1-3f19-49b9-9d02-4298f8987982" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_cceb10f8-6201-4b61-9656-868a84e6ad9d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_c69e4f6c-eeca-4a30-80ca-7f49e933752d" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_eea827d1-3f19-49b9-9d02-4298f8987982" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_c69e4f6c-eeca-4a30-80ca-7f49e933752d" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_2cec8ebf-a6e8-4c6c-bfd3-bc265ed6ab6f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_eea827d1-3f19-49b9-9d02-4298f8987982" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_2cec8ebf-a6e8-4c6c-bfd3-bc265ed6ab6f" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_9edaeeac-decb-4e9a-989a-fed445704cf8" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_eea827d1-3f19-49b9-9d02-4298f8987982" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_9edaeeac-decb-4e9a-989a-fed445704cf8" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_5b71ad84-0680-4430-95fa-57e766b8e2fd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_eea827d1-3f19-49b9-9d02-4298f8987982" xlink:to="loc_us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_5b71ad84-0680-4430-95fa-57e766b8e2fd" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_step_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_6cef0aba-eed8-4f22-8347-f6f7892a8904" xlink:href="step-20200930.xsd#step_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_FiniteLivedIntangibleAssetsNet_eea827d1-3f19-49b9-9d02-4298f8987982" xlink:to="loc_step_FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour_6cef0aba-eed8-4f22-8347-f6f7892a8904" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/DebtObligations" xlink:type="simple" xlink:href="step-20200930.xsd#DebtObligations"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/DebtObligations" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/DebtObligationsNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#DebtObligationsNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/DebtObligationsNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/EquitybasedCompensation" xlink:type="simple" xlink:href="step-20200930.xsd#EquitybasedCompensation"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/EquitybasedCompensation" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/EquitybasedCompensationTables" xlink:type="simple" xlink:href="step-20200930.xsd#EquitybasedCompensationTables"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/EquitybasedCompensationTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/EquitybasedCompensationNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#EquitybasedCompensationNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/EquitybasedCompensationNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/EquitybasedCompensationUnvestedRSUsDetails" xlink:type="simple" xlink:href="step-20200930.xsd#EquitybasedCompensationUnvestedRSUsDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/EquitybasedCompensationUnvestedRSUsDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/IncomeTaxes" xlink:type="simple" xlink:href="step-20200930.xsd#IncomeTaxes"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/IncomeTaxes" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/IncomeTaxesDetails" xlink:type="simple" xlink:href="step-20200930.xsd#IncomeTaxesDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/IncomeTaxesDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/EarningsPerShare" xlink:type="simple" xlink:href="step-20200930.xsd#EarningsPerShare"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/EarningsPerShare" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/EarningsPerShareTables" xlink:type="simple" xlink:href="step-20200930.xsd#EarningsPerShareTables"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/EarningsPerShareTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/EarningsPerShareDetails" xlink:type="simple" xlink:href="step-20200930.xsd#EarningsPerShareDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/EarningsPerShareDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/EarningsPerShareNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#EarningsPerShareNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/EarningsPerShareNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/RelatedPartyTransactions" xlink:type="simple" xlink:href="step-20200930.xsd#RelatedPartyTransactions"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/RelatedPartyTransactions" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/RelatedPartyDisclosuresTables" xlink:type="simple" xlink:href="step-20200930.xsd#RelatedPartyDisclosuresTables"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/RelatedPartyDisclosuresTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/RelatedPartyDisclosuresNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#RelatedPartyDisclosuresNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/RelatedPartyDisclosuresNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/RelatedPartyTransactionsScheduleofRelatedPartyTransactionsDetails" xlink:type="simple" xlink:href="step-20200930.xsd#RelatedPartyTransactionsScheduleofRelatedPartyTransactionsDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/RelatedPartyTransactionsScheduleofRelatedPartyTransactionsDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/StockholdersEquity" xlink:type="simple" xlink:href="step-20200930.xsd#StockholdersEquity"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/StockholdersEquity" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/StockholdersEquityTables" xlink:type="simple" xlink:href="step-20200930.xsd#StockholdersEquityTables"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/StockholdersEquityTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/StockholdersEquityNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#StockholdersEquityNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/StockholdersEquityNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/StockholdersEquitySharesofStockOutstandingDetails" xlink:type="simple" xlink:href="step-20200930.xsd#StockholdersEquitySharesofStockOutstandingDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/StockholdersEquitySharesofStockOutstandingDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CommitmentandContingencies" xlink:type="simple" xlink:href="step-20200930.xsd#CommitmentandContingencies"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CommitmentandContingencies" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CommitmentandContingenciesTables" xlink:type="simple" xlink:href="step-20200930.xsd#CommitmentandContingenciesTables"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CommitmentandContingenciesTables" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CommitmentandContingenciesNarrativeDetails" xlink:type="simple" xlink:href="step-20200930.xsd#CommitmentandContingenciesNarrativeDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CommitmentandContingenciesNarrativeDetails" xlink:type="extended"/>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/CommitmentandContingenciesOperatingLeaseMaturityDetails" xlink:type="simple" xlink:href="step-20200930.xsd#CommitmentandContingenciesOperatingLeaseMaturityDetails"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/CommitmentandContingenciesOperatingLeaseMaturityDetails" xlink:type="extended">
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_4f5f9887-2667-47e3-8d92-58abd6c3958f" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDue"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_32b76b60-ec79-44da-8ac1-2da429da1243" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter"/>
    <link:calculationArc order="1" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_4f5f9887-2667-47e3-8d92-58abd6c3958f" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter_32b76b60-ec79-44da-8ac1-2da429da1243" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_a4843220-cc4d-476b-9227-9798455e5e26" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears"/>
    <link:calculationArc order="2" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_4f5f9887-2667-47e3-8d92-58abd6c3958f" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears_a4843220-cc4d-476b-9227-9798455e5e26" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_34f4d61a-6303-4a04-8ed4-82ad7a3370fb" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears"/>
    <link:calculationArc order="3" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_4f5f9887-2667-47e3-8d92-58abd6c3958f" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears_34f4d61a-6303-4a04-8ed4-82ad7a3370fb" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_9e05359a-fba9-4190-a785-e19db95ffb88" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears"/>
    <link:calculationArc order="4" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_4f5f9887-2667-47e3-8d92-58abd6c3958f" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears_9e05359a-fba9-4190-a785-e19db95ffb88" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear_58c04e7c-c599-4d84-90a6-9eaae1b13b7a" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear"/>
    <link:calculationArc order="5" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_4f5f9887-2667-47e3-8d92-58abd6c3958f" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear_58c04e7c-c599-4d84-90a6-9eaae1b13b7a" xlink:type="arc"/>
    <link:loc xlink:type="locator" xlink:label="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_25ea96c0-3d68-4811-8689-2b4203ae16fd" xlink:href="http://xbrl.fasb.org/us-gaap/2020/elts/us-gaap-2020-01-31.xsd#us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears"/>
    <link:calculationArc order="6" weight="1.0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDue_4f5f9887-2667-47e3-8d92-58abd6c3958f" xlink:to="loc_us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears_25ea96c0-3d68-4811-8689-2b4203ae16fd" xlink:type="arc"/>
  </link:calculationLink>
  <link:roleRef roleURI="http://www.stepstonegroup.com/role/SubsequentEvents" xlink:type="simple" xlink:href="step-20200930.xsd#SubsequentEvents"/>
  <link:calculationLink xlink:role="http://www.stepstonegroup.com/role/SubsequentEvents" xlink:type="extended"/>
</link:linkbase>
