StepStone Private Credit Fund (SCRED) RAIF

StepStone Private Credit Fund (SCRED) RAIF is an open-end SICAV launched by StepStone in 2024 and domiciled in Luxembourg. It is structured as a RAIF rather than under the ELTIF framework, so its eligibility and distribution rules follow the Non-ELTIF route (N/A for ELTIF version), and it is marketed on a pan-European basis to both professional and eligible private investors. The portfolio is managed in USD against a private debt mandate executed through a direct lending approach, placing it among 148 private debt vehicles and 108 Luxembourg-domiciled private debt vehicles in the 494 funds covered as of 31 Aug 2026.

Access mechanics are those of a semi-liquid evergreen vehicle: subscriptions are accepted monthly, net asset value is struck monthly, and redemptions are processed quarterly, subject to a soft lock-up applied at the investor level after initial funding. The entry threshold of 50,000 USD sits within the range typical of the 347 Luxembourg funds tracked, and the published summary risk indicator of 3 reflects a loan-oriented, income-driven return profile rather than equity-like variability. The fund is classified Article 8 under SFDR.

Economics are disclosed as a management fee of and a performance fee of , both of which can be compared with the equivalent terms recorded for the other 148 private debt funds in the dataset. The manager's stated return objective is , and reported assets of position the vehicle relative to the 108 Luxembourg private debt peers for which size data is held.