StepStone Group has held a final close for its StepStone Senior Corporate Lending II (SCL II), raising $1.3 billion of commitments, surpassing its target of $1 billion.
Through SCL II, StepStone seeks to invest in post-COVID-19 vintage, senior secured, first-lien performing corporate loans. The portfolio will be diversified across geographies, managers and single-loan positions. Flexible allocations allow the fund to allocate to GPs with the strongest pipelines.
“The low-rate environment has been one of the leading factors behind the rise of private debt as an asset class. We are grateful for the strong support of our limited partners,” said Stephan Tscheulin, StepStone Private Debt partner. “Their enthusiasm is a testament to our team, which has invested through multiple credit cycles, and strong relationships with GPs.”
