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
Apr 03, 2023
Non-Traded BDC
'40 Act
Daily
USD
December 31
News and Notices
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Date
Time (ET)
Notice Type
Notice
Source
Apr 02, 2024
10:51
Fee, Redemption
StepStone Private Credit Fund opened a $157.8 million repurchase offer for up to 6,115,816 shares, 5% of outstanding shares. Tenders are due December 2, 2026; accepted shares issued after January 2, 2026 are subject to a 2% deduction.
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Feb 28, 2025
17:25
Redemption
StepStone Private Credit Fund reported tender offer results: 10,000 fund interests were tendered and accepted for purchase, representing less than 1% outstanding, at $25.81 net asset value per interest as of September 30, 2026, with ~$258,078 aggregate purchase price.
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Apr 21, 2025
17:02
Subscription
StepStone Private Credit Fund sold 2,123,951 unregistered interests for $54.8 million as of October 1, 2026, bringing private offering issuance to 119,436,909 interests for $3.1 billion. The fund intends to continue selling interests monthly.
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Nov 16, 2025
14:20
Debt Issuance
StepStone Private Credit Fund amended its Wells Fargo revolving credit facility, increasing commitments from $750 million to $1 billion and reducing the borrowing margin from 2.15% to 1.95%. Borrowings remain available until October 15, 2029, with maturity on October 15, 2031.
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May 01, 2026
12:47
Ownership, Personnel
Stepstone Private Credit Fund disclosed that Chief Compliance Officer Matthew Bennett Fleischer reported no securities owned as of October 1, 2026.
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Jun 18, 2024
12:35
Performance, Subscription
StepStone Private Credit Fund sold 5,035,671 unregistered limited liability company interests for $132 million and reported August 31, 2026 net asset value per share of $26.21. The fund intends to continue monthly sales in its continuous private offering.
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Nov 17, 2025
10:58
Debt Issuance
StepStone Private Credit Fund added a $250 million revolving credit facility for a subsidiary, generally priced at term SOFR plus 1.90% and maturing September 14, 2031. Borrowings count toward 1940 Act asset coverage.
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Apr 19, 2026
14:27
Performance, Subscription
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.
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Dec 03, 2023
15:41
Redemption
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.
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Apr 27, 2024
12:40
Redemption
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.
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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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