StepStone Group announced the final closing of its second Credit Opportunities Fund with more than $1.58 billion in commitments, significantly exceeding its $750 million target and highlighting continued investor demand for flexible private credit strategies.
The fund, which held its final close on March 31, 2026, is designed to invest across the private credit spectrum, with a focus on secondaries and co-investment opportunities. The strategy aims to identify relative value throughout the credit cycle while addressing liquidity needs across a range of market participants, including companies, general partners, limited partners, and financial institutions.
StepStone is positioning the fund to capitalize on market dislocations and interest rate volatility, which are creating attractive opportunities in credit markets. By leveraging its global platform, the firm seeks to deploy capital across a diversified set of credit asset classes and structures, allowing for dynamic and selective investment execution.
The fund attracted a broad and diverse group of global limited partners, reflecting confidence in StepStone’s private debt platform and its ability to source and underwrite opportunities through deep relationships and proprietary data capabilities. The continued expansion of the credit secondaries market has further supported the fund’s investment pipeline.
StepStone manages approximately $811 billion in total capital, including $220 billion in assets under management, and serves a global client base that includes pension funds, sovereign wealth funds, insurance companies, endowments, and family offices. The firm continues to position private debt as an increasingly important component of diversified investment portfolios, particularly in uncertain market environments.
The launch of Credit Opportunities Fund II builds on the firm’s existing credit platform, providing investors with diversified exposure to credit opportunities across sectors and geographies, while aiming to deliver attractive risk-adjusted returns through disciplined portfolio construction.
KEY QUOTES:
“We are very pleased with the successful closing of SCOF II and grateful for the continued support of both returning and new limited partners. In an environment characterized by general market and interest rate volatility, as well as periodic dislocations, we believe the opportunity set for credit investors remains attractive and elevated. SCOF II is well positioned to capitalize on these dynamics across multiple sectors and structures.”
Marcel Schindler, Head Of StepStone Private Debt, StepStone Group
“Our global sourcing capabilities, combined with our experience navigating multiple credit cycles, position SCOF II to identify differentiated opportunities and seek attractive risk-adjusted returns for our investors. We believe this strategy further strengthens and builds the role private debt can play in client portfolios, particularly in periods of market uncertainty.”
John Bohill, Partner, StepStone Private Debt And Portfolio Manager, SCOF II
