StepStone Private Credit Income Fund
Sponsored by StepStone. Interval Fund structure focused on private credit.
Interval FundPrivate Credit
- Net assets
- $1.05B
source
Monthly portfolio report (Form N-PORT) · filed 2026-06-01 · period 2026-03-31
Net assets (N-PORT Part B, Item B.2)
Method Direct: read from a structured filing field
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-03-31 - NAV / share
- $10.08
source
Shareholder report (Form N-CSR) · filed 2026-03-06 · period 2025-12-31
per-class statement blocks (V5 family, non-FS filer agent), Class I
“Class I: NA $1,021,142,971 (x1), 101,338,975 sh, NAV $10.08 | Class D: NA $11,467 (x1), 1,138 sh, NAV $10.08”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
Filed fund value · as of 2025-12-31 - Net flows, last qtr
- +1.4% qtr ended 2026-03-31
- Distribution coverage (NII)
- 94% period ended 2025-12-31
- Leverage in use
- 37% debt / equity 0.33x
- Total return, 12m
- Pending SEC-filed periodic NAV + distributions
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
No current Urgent or Notify findings in filings reviewed through 2026-07-21.
Historical findings (1)
Gross share sales: Inflow stall (fundraising flywheel): gross sales down >= 50% vs same period prior year [Notify, 2024-12-31]
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
Monthly performance eligibility
Canonical class: Class I · basis: no qualifying monthly chain · qualifying history: 0 months.
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
Pending
Where exit demand met the cap.
The disclosed history shows no rationed period.
Pending
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
Pending
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
Not attributed 100.0%
| Class | Terms-based role description | Load | Servicing | Minimum | Assets |
|---|---|---|---|---|---|
| Class I | Pending | Pending | Pending | Pending | Pending |
Management fee: 1.15% of daily net assets per year, current as of latest filed disclosure. Research only: not used in a fee distribution. SEC source 0001213900-26-024362.
Filed fee conditions
In consideration of its services to the Fund, the Adviser is entitled to a management fee ('Management Fee') equal to 1.15% on an annualized basis of the Fund's daily net assets. The Management Fee is accrued daily and payable monthly in arrears. The Adviser pays the Sub-Adviser 50% of the Management Fee on a monthly basis -- not an additional fund-level charge. For the year ended December 31, 2025, the Adviser earned $10.3 million (net of the sub-adviser split).
Canonical-class fee profile
| Class | Management | Incentive | Load | Servicing | Gross expenses | Net expenses |
|---|---|---|---|---|---|---|
| Class I | 1.15% | Pending | Pending | Pending | 4.54%filed basis*Filed label: Expenses before adviser expense recoupment (reimbursement)⁵; period 2025-12-31. before adviser recoupment/reimbursement (explicit filing row); waiver state: before / excluding. SEC source 0001213900-26-024362 |
4.65%filed basis*Filed label: Expenses after adviser expense recoupment (reimbursement)⁵; period 2025-12-31. After waiver: yes; interest: not separately stated; tax: not separately stated; incentive compensation: not separately stated; acquired-fund expenses: not separately stated. SEC source 0001213900-26-024362 |
Expense-ratio caution. These are the issuer’s filed figures for the designated analysis class. They are not placed in a fee ranking because denominators and included expenses are not yet normalized across funds. Hover or click * for the filed label, period, components, and SEC source.
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (2)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | In consideration of its services to the Fund, the Adviser is entitled to a management fee ('Management Fee') equal to 1.15% on an annualized basis of the Fund's daily net assets. The Management Fee is accrued daily and payable monthly in arrears. The Adviser pays the Sub-Adviser 50% of the Management Fee on a monthly basis -- not an additional fund-level charge. For the year ended December 31, 2025, the Adviser earned $10.3 million (net of the sub-adviser split). | 1.15 pct_annual_of_daily_net_assets | Pending |
| incentive_fee_schedule | In addition, the Fund pays the Adviser an income-based incentive fee (“Incentive Fee”). The Incentive Fee is accrued daily and payable quarterly in arrears based on the Fund’s pre-incentive fee net investment income (“Pre-Incentive Fee Net Investment Income”) for the most recently completed calendar quarter. The payment of the Incentive Fee is subject to a quarterly hurdle rate, expressed as a rate of return on the value of the Fund’s net assets at the end of the most recently completed calendar quarter, of 1.25% (5.00% annualized) (“Hurdle Rate”), subject to a “catch up” feature. For this purpose, Pre-Incentive Fee Net Investment Income means interest income, dividend income and any other income (including any other fees, such as commitment, origination, structuring, diligence and consulting fees or other fees that the Fund (or its Wholly- Owned Subsidiaries) receives from portfolio companies) accrued during the calendar quarter, minus the Fund’s operating expenses for the quarter (including the Management Fee, expenses and fees paid to the Adviser under the Administration Agreement and any interest expense and dividends paid on any issued and outstanding preferred stock or credit agreements, but excluding the Incentive Fee and any shareholder servicing and/or distribution fees), net of any expense waivers or expense payments by the Adviser. Pre- Incentive Fee Net Investment Income includes, in the case of investments with a deferred interest feature (such as OID debt instruments with PIK interest and zero-coupon securities), accrued income that the Fund has not yet received in cash. Pre-Incentive Fee Net Investment Income does not include any realized capital gains, realized capital losses or unrealized appreciation or depreciation. The calculation of the Incentive Fee for each quarter is as follows: • No Incentive Fee will be payable to the Adviser in any calendar quarter in which the Fund’s Pre-Incentive Fee Net Investment Income does not exceed the Hurdle Rate; • 100% of the dollar amount of the Fund’s Pre-Incentive Fee Net Investment Income, if any, that exceeds the Hurdle Rate but is less than or equal to 1.3889% in any calendar quarter (5.5556% annualized) will be payable to the Adviser. This portion of the Fund’s Incentive Fee that exceeds the Hurdle Rate but is less than or equal to 1.3889% is referred to as the “catch up” and is intended to provide the Adviser with an Incentive Fee of 10% on all of the Fund’s Pre-Incentive Fee Net Investment Income when the Fund’s Pre-Incentive Fee Net Investment Income reaches 1.3889% (5.5556% annualized) on net assets in any calendar quarter; | Text disclosure | Pending |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-06-01 | NPORT-P | 0001193125-26-250661 |
| 2026-05-12 | N-23C3A | 0001193125-26-219602 |
| 2026-03-06 | N-CSR | 0001213900-26-024362 |
| 2026-02-27 | NPORT-P | 0001193125-26-082272 |
| 2026-02-09 | N-23C3A | 0001193125-26-042607 |
| 2025-11-28 | NPORT-P | 0001193125-25-301587 |
| 2025-11-10 | N-23C3A | 0001193125-25-274611 |
| 2025-09-08 | N-CSRS | 0001213900-25-085481 |
| 2025-08-29 | NPORT-P | 0001145549-25-057518 |
| 2025-08-11 | N-23C3A | 0001193125-25-178100 |
| 2025-05-30 | NPORT-P | 0001145549-25-038104 |
| 2025-05-12 | N-23C3A | 0001193125-25-117910 |
| 2025-03-10 | N-CSR | 0001213900-25-022164 |
| 2025-02-27 | NPORT-P | 0001145549-25-011067 |
| 2025-02-07 | N-23C3A | 0001193125-25-022735 |