The capital structure graph behind private markets. Who lent, to whom, under which sponsor, through which facility, how large the piece was, when it matures and what changed, with a filing behind every number. A BDC piece is that BDC's piece, a sum of pieces is a lower bound, and a sponsor is named with the evidence that names it.

BDC portfolio

Stepstone Private Credit Fund LLC

BDCnon-tradedCIK 1950803file 814-01624NEW YORK, NYmanaged by STEPSTONE GROUP PRIVATE DEBT LLC
Fair value
$6.6B
as of Jun 30, 2026
Principal held
$3.8B
debt pieces, the filer's figure
Cost
$3.8B
173c on cost
Unfunded
n/a
commitments not yet drawn
Positions
1,428
497 borrowers
First lien
56%
57% debt by fair value
Quarters on the tape
12
since Sep 30, 2023
Facilities held
935
69 sponsors financed
Portfolio through time
Fair value by quarter end$6.6B as of Jun 30, 2026
Sep 30, 2023$1.8B then
QuarterFair valueBorrowersOn costPIK pos.Avg spread
Jun 30, 2026$6.6B497100c30463 bp
Mar 31, 2026$5.4B471100c30457 bp
Dec 31, 2025$7.7B467100c80459 bp
Sep 30, 2025$3.0B426100c82n/a
Jun 30, 2025$3.4B379100c32n/a
Mar 31, 2025$7.8B328100c20n/a
Dec 31, 2024$12B331100c55463 bp
Sep 30, 2024$7.2B283100c14488 bp
Jun 30, 2024$5.6B258100c14411 bp
May 1, 2024$11.2M0100c0n/a
Mar 31, 2024$4.6B211100c14429 bp
Dec 31, 2023$7.0B163100c5607 bp
Sep 30, 2023$1.8B125100c0607 bp

Each quarter end is the schedule as filed for that instant; a restated year end is taken from the latest filing that carries it.

Sponsors financed

Counted at BDC level here; the adviser page counts across every BDC it manages. A sponsor named by Form D signer consensus is an inference.

What changed
Every position change, including routine ones
Largest facilities held, with co-lenders
Schedule of investments at Jun 30, 2026
1,428 positions
BorrowerInstrumentPrincipalFair valueRateMaturity
Eskola LLC
Construction & Engineering
term loan first lien$8.5M$7.7M
92c
SOFR+550 bp
PIK 9.71%
Dec 19, 2029
Tau Buyer, LLC Term B Loan
Application Software
term loan first lien$7.8M$7.7M
99c
SOFR+500 bp
PIK 2.50%
Feb 2, 2032
26N DL Sidecar Fund I LP
Asset Management & Custody Banks
equity equity$7.6M$7.6M
100c
Upland Software, Inc.
Application Software
term loan first lien$7.8M$7.6M
99c
SOFR+600 bpJul 25, 2031
Trintech Inc.
Application Software
term loan first lien$7.7M$7.5M
99c
SOFR+475 bpJan 28, 2033
Dwyer
Environmental & Facilities Services
term loan first lien$7.4M$7.4M
101c
SOFR+475 bpJul 20, 2029
IEQ Capital, LLC 2024
Asset Management & Custody Banks
delayed draw term loan first lien$7.4M$7.4M
101c
SOFR+450 bpDec 22, 2028
Pareto Health Intermediate Holdings Inc. A-1 Cash Pay
Life & Health Insurance
term loan first lien$7.4M$7.4M
100c
SOFR+500 bpJun 1, 2030
Optimizely North America Inc. (USD)
Application Software
term loan first lien$7.5M$7.3M
99c
SOFR+550 bp
PIK 2.50%
Oct 30, 2031
Wharf Street Ratings Acquisition LLC
Financial Exchanges & Data
term loan first lien$7.3M$7.3M
100c
SOFR+450 bpSep 16, 2032
Wharf Street Ratings Acquisition LLC
Financial Exchanges & Data
term loan first lien$7.3M$7.3M
100c
SOFR+450 bpSep 16, 2032
Superior biologics, INC.
Health Care Services
term loan first lien$7.4M$7.3M
100c
SOFR+610 bpMay 27, 2033
Obra Capital, Inc.
Asset Management & Custody Banks
term loan first lien$7.4M$7.2M
100c
SOFR+750 bpJun 21, 2029
Par Excellence Holdings, Inc. Term B-1 Loan
Health Care Technology
term loan first lien$7.4M$7.2M
99c
SOFR+500 bpSep 3, 2030
Bristol Hospice, L.L.C.
Health Care Facilities
term loan first lien$7.3M$7.2M
100c
SOFR+525 bpAug 26, 2032
Bristol Hospice, L.L.C.
Health Care Facilities
term loan first lien$7.3M$7.2M
100c
SOFR+525 bpAug 26, 2032
Creek Parent, Inc.term loan first lien$7.4M$7.2M
98c
SOFR+500 bpDec 18, 2031
Designs for Health, Inc. Initial Term B Loanterm loan first lien$7.3M$7.2M
100c
SOFR+450 bpOct 16, 2030
Designs for Health, Inc. Initial Term B Loanterm loan first lien$7.3M$7.2M
100c
SOFR+450 bpOct 16, 2030
TL Voltron Purchaser, LLC
Diversified Support Services
term loan first lien$7.3M$7.2M
99c
SOFR+525 bpDec 31, 2030
mPulse Mobile, Inc.
Health Care Technology
term loan first lien$7.2M$7.2M
100c
SOFR+475 bpAug 26, 2032
mPulse Mobile, Inc.
Health Care Technology
term loan first lien$7.2M$7.2M
100c
SOFR+475 bpAug 26, 2032
Southern Orthodontic Partners Management, LLC Eighth Amendment
Health Care Services
term loan first lien$7.1M$7.1M
100c
SOFR+475 bpJul 27, 2029
George Holding, Inc.
Diversified Metals & Mining
term loan first lien$7.2M$7.1M
100c
SOFR+475 bpJan 31, 2031
Guava Buyer LLCterm loan first lien$7.2M$7.0M
99c
SOFR+550 bpAug 12, 2032
Guava Buyer LLCterm loan first lien$7.2M$7.0M
99c
SOFR+550 bpAug 12, 2032
DrFirst.com, Inc.
Health Care Technology
term loan first lien$7.0M$7.0M
100c
SOFR+500 bpNov 22, 2029
Fullsteam Operations LLC
Application Software
term loan first lien$7.0M$6.9M
99c
SOFR+525 bpAug 8, 2031
Lighthouse Technologies Holding Corp. Fourth Amendment
IT Consulting & Other Services
term loan first lien$7.0M$6.9M
99c
SOFR+475 bpDec 31, 2029
HHS Buyer, Inc. First Incremental Amendment
Health Care Services
delayed draw term loan first lien$6.9M$6.9M
101c
SOFR+550 bpAug 31, 2028
Associations, Inc.
Real Estate Operating Companies
term loan first lien$6.9M$6.9M
100c
SOFR+650 bpJul 2, 2028
Redwood Services Group, LLC
IT Consulting & Other Services
term loan first lien$7.0M$6.9M
99c
SOFR+525 bpJun 15, 2029
ACP Oak Buyer, Inc. Sixth Amendment
Health Care Equipment
term loan first lien$6.9M$6.8M
100c
SOFR+475 bpMay 16, 2031
PestCo, LLC Term A Loan
Specialized Consumer Services
term loan first lien$6.8M$6.8M
100c
SOFR+475 bpAug 6, 2030
PestCo, LLC Term A Loan
Specialized Consumer Services
term loan first lien$6.8M$6.8M
100c
SOFR+475 bpAug 6, 2030
PDI TA Holdings, Inc.
Application Software
term loan first lien$6.9M$6.8M
99c
SOFR+600 bp
PIK 2.50%
Feb 3, 2031
CRH Healthcare Purchaser, Inc.
Health Care Facilities
term loan first lien$6.8M$6.7M
100c
SOFR+525 bpSep 17, 2031
CRH Healthcare Purchaser, Inc.
Health Care Facilities
term loan first lien$6.8M$6.7M
100c
SOFR+525 bpSep 17, 2031
Transgo, LLC First Amendment
Auto Parts & Equipment
term loan first lien$6.7M$6.7M
100c
SOFR+525 bpDec 29, 2028
Renaissance Buyer, LLC Amendment No. 2
Research & Consulting Services
term loan first lien$6.7M$6.7M
100c
SOFR+475 bpJul 18, 2028
Discovery SL Management, LLC Amendment No. 8
Health Care Facilities
term loan first lien$6.7M$6.6M
100c
SOFR+500 bpMar 18, 2030
CLGF Holdco 2, LLC Loan
Consumer Finance
term loan first lien$6.7M$6.6M
101c
//stepstoneprivate.com/20260630#Fixed+1250 bpApr 23, 2030
Lightspeed Borrower, LLC
Application Software
term loan first lien$6.6M$6.6M
100c
SOFR+525 bpMay 1, 2029
Beacon Oral Specialists Management LLC Sixth Amendment
Health Care Services
delayed draw term loan first lien$6.6M$6.6M
100c
SOFR+550 bpDec 14, 2026
Advanced Medical Management, LLC Amendment No. 9
Health Care Services
term loan first lien$6.7M$6.6M
100c
SOFR+600 bpJun 18, 2028
EdgeCo Buyer, Inc.
Asset Management & Custody Banks
delayed draw term loan first lien$6.5M$6.5M
100c
SOFR+450 bpJun 1, 2028
Talent Worldwide Inc.
Human Resource & Employment Services
term loan first lien$6.6M$6.5M
100c
SOFR+550 bpJan 16, 2031
Crete PA Holdco, LLC
Research & Consulting Services
term loan first lien$6.5M$6.5M
100c
SOFR+500 bpNov 26, 2030
Crete PA Holdco, LLC
Research & Consulting Services
delayed draw term loan first lien$6.5M$6.5M
101c
SOFR+500 bpNov 26, 2030
Vensure Employer Services, Inc.
Research & Consulting Services
term loan first lien$6.5M$6.4M
100c
SOFR+500 bpSep 27, 2032
Durare Bidco, LLC
Application Software
term loan first lien$6.5M$6.4M
99c
SOFR+475 bpAug 9, 2032
Durare Bidco, LLC
Application Software
term loan first lien$6.5M$6.4M
99c
SOFR+475 bpAug 9, 2032
LeadVenture, Inc.
Application Software
term loan first lien$6.5M$6.4M
99c
SOFR+500 bpJun 23, 2032
Moonlight Parent, Inc.
Diversified Support Services
term loan first lien$6.4M$6.4M
100c
SOFR+475 bpSep 9, 2032
Ivy Technology Parent Intermediate III Holdings, LLC
Technology Distributors
term loan first lien$6.4M$6.3M
100c
SOFR+525 bpFeb 5, 2031
Capitol Imaging Acquisition Corp.
Health Care Facilities
term loan first lien$6.3M$6.3M
101c
SOFR+500 bpJan 3, 2030
PMA Parent Holdings, LLC
Asset Management & Custody Banks
term loan first lien$6.4M$6.3M
99c
SOFR+475 bpJan 31, 2031
Payscape Buyer, Inc. Eleventh Amendment
Environmental & Facilities Services
term loan first lien$6.3M$6.3M
100c
SOFR+475 bpNov 1, 2027
Ambient Enterprises Holdco LLC
Industrial Machinery & Supplies & Components
term loan first lien$6.2M$6.2M
99c
SOFR+550 bpJun 30, 2030
MoboTrex, LLC
Electrical Components & Equipment
term loan first lien$6.2M$6.1M
100c
SOFR+500 bpJun 7, 2030
Integrated Power Services Holdings, Inc.
Diversified Support Services
term loan first lien$6.1M$6.1M
100c
SOFR+475 bpNov 22, 2028
Integrated Power Services Holdings, Inc.
Diversified Support Services
term loan first lien$6.1M$6.1M
100c
SOFR+475 bpNov 22, 2028
Vensure Employer Services, Inc.
Research & Consulting Services
term loan first lien$6.2M$6.1M
100c
SOFR+500 bpSep 27, 2032
Salisbury House, LLC
Education Services
term loan first lien$6.1M$6.1M
100c
SOFR+475 bpAug 18, 2032
Imagine 360 LLC
Managed Health Care
term loan first lien$6.0M$6.0M
100c
SOFR+475 bpSep 30, 2028
ABC Technologies Inc.
Automotive Retail
term loan first lien$6.0M$6.0M
100c
SOFR+475 bpFeb 13, 2032
HHS Buyer, Inc. First Incremental Amendment
Health Care Services
delayed draw term loan first lien$6.0M$6.0M
101c
SOFR+550 bpAug 31, 2028
High Street Buyer, Inc. 2024
Insurance Brokers
delayed draw term loan first lien$5.9M$5.9M
101c
SOFR+425 bpApr 14, 2028
Cherry Bekaert Advisory LLC Amendment No. 7
Investment Banking & Brokerage
term loan first lien$5.9M$5.9M
100c
SOFR+475 bpJun 28, 2030
Heads Up Technologies, Inc.
Aerospace & Defense
term loan first lien$6.0M$5.9M
100c
SOFR+525 bpJul 23, 2030
MIV Buyer, LLC Term A Loan
Specialized Finance
term loan first lien$6.0M$5.9M
100c
SOFR+475 bpSep 19, 2031
BBG, Inc.
Real Estate Services
term loan first lien$6.2M$5.9M
96c
SOFR+675 bpJan 8, 2027
Integrated Power Services Holdings, Inc. Tenth Amendment
Diversified Support Services
term loan first lien$5.9M$5.9M
100c
SOFR+475 bpNov 22, 2031
Ideal Components Acquisition, LLC
Industrial Machinery & Supplies & Components
term loan first lien$6.0M$5.9M
100c
SOFR+500 bpJun 30, 2032
IDC Infusion Services, Inc.
Health Care Distributors
term loan first lien$5.9M$5.9M
101c
SOFR+500 bpJul 7, 2028
Zep Holdco Inc.
Household Products
term loan first lien$5.9M$5.9M
100c
SOFR+500 bpJun 30, 2031
Sagebrush Buyer, LLC StoneTurn
Research & Consulting Services
term loan first lien$5.9M$5.9M
100c
SOFR+475 bpJul 1, 2030
LeadVenture, Inc.
Application Software
term loan first lien$6.0M$5.9M
99c
SOFR+500 bpJun 23, 2032
IG Investments Holdings, LLC 2024 Refinancing
Human Resource & Employment Services
term loan first lien$5.9M$5.8M
99c
SOFR+500 bpSep 22, 2028
Wealth Enhancement Group, LLC December 2024
Asset Management & Custody Banks
delayed draw term loan first lien$5.8M$5.8M
100c
SOFR+425 bpOct 2, 2028
VRC Companies, LLC
IT Consulting & Other Services
term loan first lien$5.8M$5.8M
100c
SOFR+550 bpJun 29, 2027
Beacon Pointe Harmony, LLC 2024
Diversified Financial Services
delayed draw term loan first lien$5.8M$5.8M
100c
SOFR+450 bpDec 29, 2028
Cambium Learning Group, Inc.
Education Services
term loan first lien$5.8M$5.8M
100c
SOFR+550 bpJul 20, 2028
AB Centers Acquisition Corporation
Health Care Services
term loan first lien$5.8M$5.8M
100c
SOFR+525 bpJul 2, 2031
Heads Up Technologies, Inc.
Aerospace & Defense
term loan first lien$5.8M$5.8M
100c
SOFR+525 bpJul 23, 2030
Saturn Borrower Inc Tenth Amendment
Systems Software
term loan first lien$5.9M$5.7M
99c
SOFR+600 bpNov 13, 2028
Beacon Behavioral Support Services LLC First Amendment
Health Care Facilities
delayed draw term loan first lien$5.9M$5.7M
100c
SOFR+550 bpJun 21, 2029
NDH Advisors LLC Second Amendment
Research & Consulting Services
term loan first lien$5.8M$5.7M
100c
SOFR+500 bpDec 3, 2031
Vacation Rental Brands, LLC
Real Estate Services
term loan first lien$5.7M$5.7M
101c
SOFR+525 bpMay 6, 2032
Curio Brands, LLC
Personal Care Products
term loan first lien$5.7M$5.7M
100c
SOFR+500 bpApr 2, 2031
Wealth Enhancement Group, LLC August 2021
Asset Management & Custody Banks
delayed draw term loan first lien$5.7M$5.7M
100c
SOFR+425 bpOct 2, 2028
Western Smokehouse Partners, LLC
Packaged Foods & Meats
delayed draw term loan first lien$5.6M$5.6M
101c
SOFR+550 bpMar 31, 2029
CIFC Funding 2025-IX _Equity
Diversified Financial Services
notes unsecured or subordinated$6.2M$5.6M
103c
Jan 21, 2039
ISG Enterprises, LLC
Industrial Machinery & Supplies & Components
delayed draw term loan first lien$5.6M$5.5M
100c
SOFR+575 bpDec 7, 2028
Choice Financial Group Acquisition, Inc.
Insurance Brokers
delayed draw term loan first lien$5.6M$5.5M
100c
SOFR+550 bpOct 15, 2027
Model N, Inc.
Application Software
term loan first lien$5.6M$5.5M
99c
SOFR+475 bpMay 13, 2031
CT Technologies Intermediate Holdings, Inc. 2025-B
Health Care Technology
term loan first lien$5.5M$5.5M
100c
SOFR+475 bpSep 2, 2031
Saab Purchaser, Inc. First Amendment
Application Software
term loan first lien$5.5M$5.4M
99c
SOFR+450 bpNov 12, 2031
Accordion Partners LLC Second Amendment Term B-2 Loan
Research & Consulting Services
term loan first lien$5.4M$5.4M
100c
SOFR+500 bpNov 17, 2031
Centex Acquisition, LLC (MDM Contracting, LLC) Second Amendment
Homebuilding
term loan first lien$5.5M$5.4M
100c
SOFR+575 bpMay 9, 2029
Page 2 of 15PreviousNext
Registration
Fiscal year end
1231reported
Incorporated
DEreported
On the SEC BDC report
2025 to 2026reported
Filings listed
13reported10-Q and 10-K since 2022
Latest schedule
0001193125-26-351731reported