StepStone Group’s non-public wealth division has launched a non-public credit score fund that’s open to particular person traders within the US.
StepStone Personal Credit score Revenue Fund is an evergreen interval fund that gives publicity to a diversified portfolio of personal credit score property.
The fund – which can be listed underneath the ticker CRDEX on the Nasdaq – will make use of each direct lending and specialty credit score methods.
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“CRDEX seeks to supply a secure, enticing yield and inflation safety that can mood the volatility in conventional portfolios by investing primarily in floating fee, senior secured loans,” mentioned Bob Lengthy, chief government of StepStone Personal Wealth.
“Benefitting from StepStone’s trade main know-how, analysis, and knowledge capabilities, CRDEX aspires to assemble a portfolio that’s effectively diversified by supervisor, underlying borrower and sub-strategy, much like our different non-public wealth funds.”
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The fund will increase capital day by day whereas offering liquidity by way of quarterly redemptions of 5 per cent of the fund’s web asset worth. There’s a minimal funding of $25,000 (£19,568).
After the primary closing, CRDEX can be accessible by way of choose mutual fund platforms or bought by subscription agreements for platforms that want them.
Nasdaq-listed StepStone Group is a world non-public markets funding agency with $157bn of property underneath administration.
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