StepStone Private Credit Fund LUX RAIF
Overview
Strategy
SCRED US Lux is an evergreen Luxembourg RAIF providing access to US middle‑market private credit, primarily via StepStone's multi‑lender SCRED platform and complementary senior secured direct lending primaries and secondaries. The portfolio focuses on floating‑rate, first‑lien/senior secured corporate loans across diversified industries (notably healthcare, software and services), targeting current income and capital appreciation while emphasizing downside protection through co‑investments and broad diversification.
Performance
Total Returns (% Net of Fees)
Total Returns (% Net of Fees)
| Net returns (since inception) | I-DB-1 (USD) |
|---|---|
| Total Return | 3% |
| Annualized Return | 9.4% |
| Best Month | (Sep 2025)0.8% |
| Worst Month | (Nov 2025)0.7% |
| Risk metrics (since inception) | |
| Volatility | 0.2% |
| Sharpe Ratio (4.3% risk-free) | 24.2 |
Allocations
Seniority allocation
Seniority
Seniority
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Sector
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Get accessKey terms
| Management Fee: | 1.00% | Accrues monthly each Valuation Date; payable quarterly in arrear. |
| Management Fee Basis: | Adjusted NAV | Excludes direct/indirect BDC investments; calculated before management and performance fees are deducted. |
| Performance Fee: | 7.50% | 7.5% income-based and 7.5% capital gains-based components; income fee over 5.0% annualised hurdle with full catch-up; income crystallises quarterly, capital gains annually. |
| Performance Fee Basis: | Net Investment Income, Realized Capital Gains | Income-based fee on Pre-Incentive Fee Net Investment Income over 5.0% annualised hurdle with catch-up, calculated quarterly; capital gains-based fee annually on cumulative realised gains net of realised losses and unrealised depreciation; excludes BDC-referable Investments and uses FX-adjusted figures; income and capital gains components are independent. |
| Hurdle rate: | 5.00% | 1.25% quarterly hurdle (5.0% annualized) on non-BDC investments; catch-up; pro-rated and adjusted for flows. |
| Catch-up: | 100.00% | 100% catch-up above the 5% hurdle up to 1.3514% per quarter (5.4056% annualized); thereafter 7.5% fee on excess income. |
| Front load (subscription): | 0.00% | |
| Back load (redemption): | 2.00% | If redeemed within 24 months; FIFO lot methodology. |
| Servicing fee: | 0.00% |
FAQ
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