StepStone Private Credit ELTIF (SCRED Europe)
Managed by StepStone Group Inc.
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StepStone Private Credit ELTIF (SCRED Europe)
Key Statistics
Fund Size
€326.6M
Target Return
N/A
Annualized Return
N/A
Launch Year
2025
Min. Investment
€1,000,000
Availability
Open through selected distributors
Structure
SICAV Part II (ELTIF 2.0)
Product Category
Open-end
Domicile
Luxembourg
GP Type
Single
Liquidity Level
Semi-liquid
Management Fee
1%
Carry
7.5% over 5% hurdle (1.25% quarterly), 100% catch-up (Class I-AC EUR)
Hurdle Rate
5%
Catch-Up Mechanism
100% catch-up
ISIN
LU2910551766
Currencies
EUR
Investor Eligibility
Retail
Liquidity Options
Weekly subscriptions
Highlights
Allocations
Investment Strategy
Industry Focus
Information about fund
SCRED Europe at a Glance
StepStone Private Credit ELTIF, marketed as SCRED Europe, is a sub-fund of StepStone (Luxembourg) SCA SICAV authorised under the ELTIF 2.0 regime and Part II of the Luxembourg UCI law. It launched on 29 January 2025 with more than EUR 250 million of seed capital and had grown to about EUR 326.6 million by 28 February 2026. The fund lends to middle-market companies in the European Union, mainly through first lien senior secured and unitranche loans, and combines direct lending with fund, co-investment and secondary exposures sourced through StepStone's private debt platform.
Key Figures (28 February 2026)
Net Assets
EUR 326.6M
Seed capital over EUR 250M at launch
Launch
29 Jan 2025
Evergreen, 100-year term
Management Fee
1.00%
Class I-AC (EUR), on NAV
Performance Fee
7.5%
Over 5% hurdle, 100% catch-up
Minimum
EUR 1,000,000
Class I-AC (EUR); retail class minimum not published
Redemption Gate
5% / quarter
Lower of 5% of shares or 5% of average NAV
Structure & Terms
| Legal Form | Luxembourg SCA SICAV, UCI Part II, ELTIF 2.0 |
| AIFM | StepStone Group Europe Alternative Investments Limited (Ireland); private debt strategy run by StepStone Group Private Debt AG |
| Subscriptions | Weekly |
| Redemptions | Quarterly, capped at the lower of 5% of outstanding shares and 5% of average aggregate NAV; not assured |
| Leverage | Cash borrowing up to 50% of NAV; maximum 350% gross / 300% commitment |
| Distribution | Registered in 17 EEA states incl. Austria, Belgium, Denmark, Finland, France; via Allfunds, FundsPlace, Goji, Bergos |
| ISIN | LU2910551766 (I-AC EUR); LU2910550792 |
Points to weigh. The underlying loans are illiquid and valued by appraisal, so the quarterly redemption window is the only regular exit and it is capped at 5% per quarter; in stressed periods requests may be scaled back over several quarters. Fund-level borrowing amplifies both gains and losses on middle-market credit, where defaults and recoveries vary with the economic cycle. The 1.00% management fee and 7.5% performance fee apply to the institutional class; fees for retail-oriented classes were not available at the time of writing, and no KID risk indicator or cost figures could be sourced. The track record covers little more than one year. Netherlands marketing registration has not been confirmed from a regulator source.
Deepdive & Related Funds
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