Stepstone Private Credit Fund LLC 8-K

What Happened

• Stepstone Private Credit Fund LLC filed an 8‑K on April 28, 2026 reporting that, as of April 1, 2026, it issued 9,773,649 unregistered Shares in its continuous private offering for aggregate proceeds of $253.4 million (final count determined April 28, 2026). The offering was conducted under exemptions to registration (Section 4(a)(2), Regulation D and/or Regulation S).
• The company reported preliminary quarter‑end figures as of March 31, 2026: net asset value (NAV) per Share of $25.92, aggregate NAV of approximately $2,088.9 million, fair value of the investment portfolio of about $3,313.9 million, and outstanding debt (principal) of $1,291.2 million. Net investment income per Share for the quarter was $0.57 (weighted average Shares). The Board declared a Q1 2026 distribution of $0.59 per Share payable April 30, 2026 (record date March 30, 2026).

Key Details

• Private share sale: 9,773,649 Shares issued (finalized April 28, 2026) for $253.4 million.
• NAV and portfolio: $25.92 NAV/Share; aggregate NAV ≈ $2,088.9M; portfolio fair value ≈ $3,313.9M; debt ≈ $1,291.2M (as of March 31, 2026, preliminary).
• Income & distribution: Net investment income of $0.57 per Share (Q1 2026); Board declared $0.59 per Share distribution payable April 30, 2026.
• Offering status: Continuous private offering up to $10 billion; 86,621,764 Shares issued to date for total consideration of ≈ $2,261.3M (excludes reinvested Shares and repurchases). Figures are preliminary and subject to quarter‑end closing and review.

Why It Matters

• The filing shows ongoing capital raising and portfolio scale: the recent $253.4M issuance and the company’s multi‑billion dollar offering program affect supply of Shares and available capital for investments.
• NAV, portfolio fair value and debt levels give investors a snapshot of the fund’s size and leverage heading into Q2 2026; the $0.59 distribution and $0.57 net investment income per Share indicate the current cash return and income generation for the quarter.
• All financial figures are preliminary and may change after the company completes its quarter‑end closing and review, so investors should watch the company’s Form 10‑Q for any revisions.