Stepstone Private Credit Fund LLC 8-K

What Happened

• Stepstone Private Credit Fund LLC filed an 8‑K on June 23, 2026 reporting that, as of June 1, 2026, it sold 10,650,045 unregistered shares (final count determined June 23) for aggregate consideration of $279.6 million. The sales were made under the company’s continuous private offering relying on Securities Act exemptions (Section 4(a)(2), Regulation D and/or Regulation S).
• The filing also reported the Company’s net asset value (NAV) per share as of May 31, 2026 was $26.25 and provided portfolio and balance figures as of that date.

Key Details

• Sold Shares: 10,650,045 unregistered limited liability company interests for $279.6 million (sale effective as of June 1, 2026; final count set June 23, 2026).
• NAV and portfolio: NAV per share $26.25; aggregate NAV ≈ $2,536.7 million; investment portfolio fair value ≈ $3,610.7 million (as of May 31, 2026).
• Debt and offering status: $1,415.9 million in debt outstanding (principal); Private Offering open for up to $10 billion.
• Issuance to date: 102,952,664 Shares issued in the Private Offering for total consideration ≈ $2,689.0 million (numbers exclude distribution reinvestment plan issuances and share repurchases). The Company intends to continue monthly sales in the Private Offering.

Why It Matters

• The filing confirms continued capital raising through a large, ongoing private offering and shows recent investor demand (the $279.6M sale).
• NAV and portfolio values give investors a snapshot of the fund’s size and leverage (aggregate NAV ~$2.54B vs. ~$1.42B principal debt).
• These facts matter for shareholders and potential investors assessing dilution from new share issuances, the fund’s scale, and its balance‑sheet leverage. The filing is informational and does not disclose changes to management or financial results beyond the NAV and offering activity.