StepStone Partners Bob Long and Marcel Schindler break down CRDEX, the StepStone Private Credit Income Fund—how it differs from other interval funds, topics investors should be focused on, and what separates top-performing credit managers from the rest.

StepStone Quick Takes | Private Wealth Solutions: CRDEX

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Important Information

Investment objectives will vary greatly among all structures and directly impact the volatility of any given fund. Different investment strategies and risk profiles should be considered when investing. Opinions expressed are subject to change at any time and are not guaranteed. Information presented is for general purposes only and is not intended to provide specific advice or recommendations for any individual.

Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained from StepStone Private Wealth Solutions at 704.215.4300. An investor should read the prospectus carefully before investing.

An investment in the Fund involves risks. The Fund should be considered a speculative investment that entails substantial risks, and a prospective investor should invest in the Fund only if it can sustain a complete loss of its investment. Fund fees and expenses may offset trading profits. Fund shares are illiquid and appropriate only as a long-term investment. There is no market exchange available for shares of the Fund thereby making them difficult to liquidate. Use of leverage may increase the Fund’s volatility. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Investments may consist of loans to small and/or less well-established privately held companies that have reduced access to the capital markets, resulting in diminished capital resources and the ability to withstand financial distress. Debt securities are subject to the risk that an issuer will be unable to make principal and interest payments on its outstanding debt obligations when due. Several factors may impair the ability of an issuer to make such payments and result in defaults on, and declines in, thevalue of its debt, including interest rate risk, prepayment risk, and adverse changes in the financial condition of an issuer. A significant portion of the Fund’s investments may be originated, which will depend on several factors, including the availability of opportunities for the origination or acquisition of target investments, the level and volatility of interest rates, the availability of adequate short and long-term financing, conditions in the financial markets and economic conditions. The current lending market in which the Fund participates is competitive and rapidly changing, and the Fund may face increasing competition for access to loans (especially direct loans) as the lending industry continues to evolve. The fact that a loan is secured does not guarantee that the Fund will receive principal and interest payments according to the loan’s terms, or at all, or that the Fund will be able to collect on the loan should the remedies be enforced. Private Market Assets may include investments in fixed income securities rated investment grade or non-investment grade (commonly referred to as high yield securities or “junk” securities) and may include investments in unrated fixed income securities, all of which may involve a substantial risk of default. Please see the prospectus for details of these and other risks.

The Fund is distributed by Distribution Services, LLC which is not affiliated with StepStone Group.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. ACTUAL PERFORMANCE MAY VARY.

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