StepStone Private Credit ELTIF
Overview
Strategy
SCRED Europe is a European private credit ELTIF investing mainly in privately originated and negotiated loans to EU middle‑market companies across diversified sectors, with a primary focus on first‑lien senior secured and unitranche instruments. The portfolio combines direct lending with exposures via underlying funds, co‑investments and secondary purchases, and may selectively include second‑lien, mezzanine, subordinated and structured credit, targeting current income with downside‑focused, broadly diversified credit risk.
Performance
Total Returns (% Net of Fees)
Total Returns (% Net of Fees)
| Net returns (since inception) | I-AC (EUR) |
|---|---|
| Total Return | 5.5% |
| Annualized Return | 9.5% |
| Best Month | (Oct 2025)2.6% |
| Worst Month | (Jan 2026)0.6% |
| Risk metrics (since inception) | |
| Volatility | 3.3% |
| Sharpe Ratio (4.3% risk-free) | 1.58 |
Allocations
Seniority allocation
Seniority
Seniority
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Sector
Sector
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Geography
Geography
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Get accessKey terms
| Management Fee: | 1.00% | Weekly calculation; payable quarterly in arrear |
| Management Fee Basis: | NAV | Before deduction of management or performance fees. |
| Performance Fee: | 7.50% | Income-based 7.5% over 1.25% quarterly hurdle with full catch-up; 7.5% on cumulative realised gains; quarterly/annual crystallisation; FX-neutral |
| Performance Fee Basis: | Net Investment Income, Realized Capital Gains | Income component on Pre-Performance Fee Net Investment Income; capital gains component on cumulative realised gains net losses/unrealised depreciation. |
| Hurdle rate: | 5.00% | 1.25% per quarter on NAV; based on Pre-Performance Fee Net Investment Income; pro-rated for partial quarters |
| Catch-up: | 100.00% | 100% catch-up above 1.25% quarterly until AIFM has 7.5% of total Pre-Performance Fee Net Investment Income; thereafter 7.5% on excess |
| Front load (subscription): | 0.00% | Intermediaries may charge additional placement/brokerage fees on subscription amount. |
| Back load (redemption): | 0.00% | May levy up to 2% of order value for excessive trading activity. |
| Servicing fee: | 0.00% |
FAQ
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