Stepstone Private Credit Fund LLC 8-K

What Happened

• Stepstone Private Credit Fund LLC filed an 8-K (Mar 26, 2026) announcing it sold 3,361,013 unregistered Shares under subscription agreements for aggregate consideration of $88.7 million (final share count determined Mar 26, 2026). The sale was made through the Company’s continuous private offering relying on Section 4(a)(2) of the Securities Act, Regulation D and/or Regulation S.

Key Details

• Net asset value (NAV) per Share: $26.40 as of February 28, 2026 (per the Company’s valuation policy).
• Aggregate net asset value: approximately $2,038.4 million as of February 28, 2026.
• Investment portfolio fair value: approximately $3,186.1 million; debt outstanding (principal): $1,238.7 million.
• Offering status: continuous Private Offering authorized up to $10 billion; to date the Company has issued 76,848,115 Shares for approximately $2,007.9 million. The totals exclude Shares from the distribution reinvestment plan and Shares repurchased under the Company’s discretionary quarterly repurchase program. The Company intends to continue monthly sales in the Private Offering.

Why It Matters

• The filing shows the Company is actively raising capital through its ongoing private offering, which increases cash on hand but also raises the total share count.
• The NAV and portfolio/funding figures give investors current measures of per-share value, portfolio scale, and leverage (debt principal of $1,238.7M).
• Investors should note the offering is private (unregistered shares) and that issued-share totals reported do not include DRIP issuances or repurchases, which can affect outstanding share count and per-share metrics over time.