StepStone closes corporate lending fund with $1.3 billion committed

By Mary-Katherine Stinson

Lexington, Ky., May 4 – StepStone Group Inc. closed its StepStone Senior Corporate Lending II fund with $1.3 billion in commitments, according to a press release.

The target goal for the fund was $1 billion.

StepStone will use the fund to invest in post-Covid-19 vintage senior secured first-lien performing corporate loans.

“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,” StepStone private debt partner Stephan Tscheulin said in the press release.

StepStone Group is a global private markets investment firm based in San Francisco.

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