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StepStone Private Credit Fund is a non-exchange traded, perpetual-life business development company (BDC) formed in 2022 to generate current income and, to a lesser extent, long-term capital appreciation by investing primarily in private credit. The fund targets direct loans to U.S. private middle-market companies, including first lien, unitranche, second lien, mezzanine, and structured credit, as well as participations, notes, and pass-through obligations. It also invests in private credit-focused funds and vehicles under a fund-of-funds approach, with limited allocations to asset-backed securities, CLO-related strategies, real estate and infrastructure debt, and other specialty finance opportunities. The fund may also invest in non-U.S. companies, but does not expect to invest in emerging markets.
News and Notices
StepStone Group
2022
'40 Act
Non-Traded BDC
USD
Daily
1.00%
December 31
News and Notices
Portfolio Holdings
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Returns
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Operating Metrics
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Notices
Date
Time (ET)
Notice Type
Source
Notice
Aug 19, 2026
14:27
Performance, Subscriptions
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StepStone Private Credit Fund sold 1,134,111 unregistered shares for $29.5 million and reported net asset value per share of $26.02. The fund intends to continue monthly sales in its continuous private offering, authorized for up to $10 billion.
Jun 03, 2026
15:41
Redemptions
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StepStone Private Credit Fund launched a tender offer to repurchase up to 5,364,541 shares, or 5% outstanding, at September 30, 2026 net asset value. Tendering shareholders must submit by August 28 and may receive cash within 65 days after expiration.
Apr 27, 2026
12:40
Redemptions
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StepStone Private Credit Fund reported final tender offer results: the offer to purchase up to 4,028,912 shares expired on May 29, 2026, with no shares tendered and none accepted for purchase.
Dec 21, 2025
10:30
Distributions, Performance, Subscriptions
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StepStone Private Credit Fund sold 8.2 million unregistered shares for $211.6 million and reported preliminary June 30 net asset value of $25.83 per share. June 29 shareholders will receive a $0.54 per-share distribution on July 31.
Jan 23, 2026
10:20
Subscriptions
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StepStone Private Credit Fund sold 10,650,045 unregistered shares for $279.6 million in its continuous private offering. The fund intends to continue monthly sales under an offering capped at $10 billion.
Mar 27, 2025
16:01
Performance, Subscriptions
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StepStone Private Credit Fund reported that it sold 5.7 million unregistered Shares for $148.1 million and had issued 92.3 million Shares for about $2.4 billion in its continuous private offering. As of April 30, 2026, its net asset value per Share was $26.08 and aggregate net asset value was approximately $2.37 billion.
Mar 26, 2024
15:10
Personnel, Subscriptions
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Stepstone Private Credit Fund updated its amended filing to show total amount sold increased from $66.7 million to $54.8 million and total investors already invested increased from 14 to 28. The filing also identifies Darren Friedman as Chief Executive Officer and Joseph Cambareri as Chief Financial Officer.
Dec 01, 2025
08:00
Redemptions
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StepStone Private Credit Fund will launch an issuer tender offer to repurchase up to 4,028,912 Shares, or 5% of the 80,578,253 Shares outstanding, at net asset value as of the Valuation Date. Accepted tendering Shareholders will receive cash by wire transfer, generally within 65 days after the Expiration Date.
Dec 28, 2025
15:23
Distributions, Performance, Subscriptions
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StepStone Private Credit Fund sold 9.8 million unregistered Shares for $253.4 million and reported preliminary March 31, 2026 NAV per Share of $25.92, aggregate NAV of $2.09 billion, and debt outstanding of $1.29 billion. The Company also announced a $0.59 per Share Q1 2026 distribution and continues its private offering.
Jun 10, 2024
16:16
Redemptions
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StepStone Private Credit Fund reported final results of its tender offer, which expired March 4, 2026; no Shares were tendered and none were accepted for purchase.
Preview
Stepstone Private Credit Fund
StepStone Group is responsible for managing Stepstone Private Credit Fund.
Stepstone Private Credit Fund launched in 2022.
Stepstone Private Credit Fund is registered as a '40 Act fund.
Stepstone Private Credit Fund is structured as a Non-Traded BDC fund.
You can invest in Stepstone Private Credit Fund daily, subject to eligibility and fund subscription deadlines.
Shares of Stepstone Private Credit Fund can be purchased in USD.
Stepstone Private Credit Fund's fiscal year end is December 31.
Stepstone Private Credit Fund's net asset value was $2,088.9 million and its portfolio had a fair value of $2,064.5 million as of March 31, 2026.
Among other deal types, Stepstone Private Credit Fund primarily makes Debt Investments.
Among other asset classes, Stepstone Private Credit Fund primarily invests in Direct Lending.
Among other regions, Stepstone Private Credit Fund primarily invests in North America and the USA.
Stepstone Private Credit Fund charges a 1.00% annual management fee, which is calculated based on NAV.
You can invest in SCRED shares with a minimum initial investment of $25,000.
You can invest in SCRED shares with a minimum subsequent investment of $500.
You will be subject to paying an early repurchase/redemption fee of 2%.
Stepstone Private Credit Fund's SCRED share class generated an annualized 1-month return of 10.98% and 2-year return of 10.95% as of September 30, 2025.
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