Stepstone Private Credit Fund LLC Files 2024 10-K
| Field | Detail |
|---|---|
| Company | Stepstone Private Credit Fund LLC |
| Form Type | 10-K |
| Filed Date | Mar 28, 2025 |
| Risk Level | low |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, credit fund, investment strategy, regulatory filing
TL;DR
Stepstone Private Credit Fund's 2024 10-K confirms non-controlled/non-affiliated investments, meaning <5% voting security ownership in portfolio companies.
AI Summary
Stepstone Private Credit Fund LLC filed its 10-K for the fiscal year ending December 31, 2024, on March 28, 2025. The company, domiciled in the U.S. and incorporated in Delaware, operates from 277 Park Avenue, New York, NY 10172. A key aspect of their investment strategy, as defined by the Investment Company Act of 1940, is that they do not hold a 5% or more interest in any outstanding class of voting security of their portfolio companies, classifying these as non-controlled and non-affiliated investments.
Why It Matters
This filing provides crucial details on Stepstone's investment holdings and adherence to regulatory definitions, impacting investor understanding of their portfolio risk and strategy.
Risk Assessment
Risk Level: low — The filing primarily details investment classifications and regulatory compliance, with no immediate indicators of significant financial distress or operational risk.
Key Numbers
- 5% — Voting Security Interest Threshold (Stepstone does not hold this percentage or more in any portfolio company's voting securities, classifying them as non-controlled/non-affiliated.)
- 25% — Control Threshold (Investments are presumed non-controlled when ownership is 25% or less of voting securities.)
Key Players & Entities
- Stepstone Private Credit Fund LLC (company) — Filer of the 10-K
- 2024-12-31 (date) — Fiscal year end
- 2025-03-28 (date) — Filing date
- 277 Park Avenue, New York, NY 10172 (location) — Business and mailing address
- Investment Company Act of 1940 (regulation) — Governs investment classifications
FAQ
What is the primary classification of Stepstone Private Credit Fund's investments according to the 1940 Act?
The filing states that investments are classified as non-controlled/non-affiliated, as Stepstone owns 25% or less of the voting securities and less than 5% of outstanding classes of voting securities in portfolio companies.
When did Stepstone Private Credit Fund LLC file its 10-K for the fiscal year 2024?
Stepstone Private Credit Fund LLC filed its 10-K on March 28, 2025.
What is the fiscal year end for Stepstone Private Credit Fund LLC?
The fiscal year end for Stepstone Private Credit Fund LLC is December 31.
Where is Stepstone Private Credit Fund LLC headquartered?
Stepstone Private Credit Fund LLC is headquartered at 277 Park Avenue, 44th Floor, New York, NY 10172.
What is the significance of the 'non-controlled' and 'non-affiliated' classifications for Stepstone's investments?
These classifications, based on the Investment Company Act of 1940, indicate that Stepstone does not hold a controlling stake (more than 25% voting securities) or a significant minority stake (5% or more in voting securities) in its portfolio companies.
Filing Details
This Form 10-K (Form 10-K) was filed with the SEC on March 28, 2025 regarding Stepstone Private Credit Fund LLC.