Fidelity Private Credit Fund
Sponsored by Fidelity. BDC structure focused on private credit.
BDCPrivate Credit
- Net assets
- $1.33B
source
Quarterly report (Form 10-Q) · filed 2026-05-08 · period 2026-03-31
Assets net
“{'end': '2026-03-31', 'val': 1332667798, 'accn': '0001193125-26-214226', 'fy': 2026, 'fp': 'Q1', 'form': '10-Q', 'filed': '2026-05-08', 'frame': 'CY2026Q1I', 'unit': 'USD'}”
Method Direct: structured XBRL tag
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-03-31 - NAV / share
- $24.95
source
Quarterly report (Form 10-Q) · filed 2026-05-08 · period 2026-03-31
total_net_assets 1,332,667,798 / shares_outstanding 53,406,053 (exact same-date denominator; fund-level blended per-share; direct class-level NAV absent for this period)
Method Derived: computed from other stored facts
Open the filing on SEC.gov · Full observation history
Technical locator
Canonical (canonical class) · 2026-03-31 - Net flows, last qtr
- +5.5% qtr ended 2026-03-31
- Distribution coverage (NII)
- 99% period ended 2026-03-31
- Leverage in use
- 70% debt / equity 0.87x
- Total return, 12m
- +7.1% computed from NAV + distributions
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
No current Urgent or Notify findings in filings reviewed through 2026-07-02.
Historical findings (3)
The fund leaned harder on leverage: 66% -> 72% of its allowed leverage in use in one period (period ended 2025-03-31).
The fund leaned harder on leverage: 62% -> 66% of its allowed leverage in use in one period (period ended 2024-12-31).
The fund leaned harder on leverage: 57% -> 62% of its allowed leverage in use in one period (period ended 2024-09-30).
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
| Date | Position change |
|---|---|
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Aerospace & Defense Cadence - Southwick, Inc. Type Term Loan Reference Rate and Spread SOFR + 4.75% Interest Rate 8.74% Maturity Date 5/3/2029 (7.8% of portfolio value in the 2025-12-31 report, $178,106,038) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Aerospace & Defense Tighitco Inc Type Term Loan Reference Rate and Spread SOFR + 6.00% Interest Rate 10.04% Maturity Date 2/28/2030 (1.5% of portfolio value in the 2025-12-31 report, $35,525,878) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Air Freight & Logistics Dynamic Connections, Ltd Type Delayed Draw Term Loan Maturity Date 11/27/2030 (1.5% of portfolio value in the 2025-12-31 report, $35,133,442) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Application Software Alegeus Technologies Holdings Corp Type Term Loan Reference Rate and Spread SOFR + 6.50% Interest Rate 10.34% Maturity Date 11/5/2029 (1.4% of portfolio value in the 2025-12-31 report, $32,181,664) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Distributors Gloves Buyer Inc Type Term Loan Reference Rate and Spread SOFR + 4.00% Interest Rate 7.72% Maturity Date 5/24/2032 (2.6% of portfolio value in the 2025-12-31 report, $59,439,382) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Diversified Financial Services Cub Financing Intermediate, LLC Type Term Loan Reference Rate and Spread SOFR + 4.75% Interest Rate 8.42% Maturity Date 6/28/2030 (13.0% of portfolio value in the 2025-12-31 report, $297,356,578) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Electrical Components & Equipment Luminii LLC Type Term Loan Reference Rate and Spread SOFR + 6.00% Interest Rate 9.67% Maturity Date 3/21/2030 (1.3% of portfolio value in the 2025-12-31 report, $28,895,073) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Industrial Machinery & Supplies & Components Endurance PT Technology Buyer Corporation Type Term Loan Reference Rate and Spread SOFR + 6.50% Interest Rate 10.17% Maturity Date 10/28/2031 (1.3% of portfolio value in the 2025-12-31 report, $29,850,000) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Oil & Gas Storage & Transportation New Fortress Energy Inc Type Term Loan Reference Rate and Spread SOFR + 5.50% Interest Rate 9.57% Maturity Date 10/30/2028 (1.0% of portfolio value in the 2025-12-31 report, $23,258,994) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Packaged Foods & Meats Nutrail Acquisitionco, LLC Type Term Loan Reference Rate and Spread SOFR + 6.00% Interest Rate 9.67% Maturity Date 5/23/2030 (1.1% of portfolio value in the 2025-12-31 report, $26,220,079) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Packaged Foods & Meats Sabrosura Foods, LLC Type Term Loan Reference Rate and Spread SOFR + 5.00% Interest Rate 8.84% Maturity Date 8/22/2029 (1.0% of portfolio value in the 2025-12-31 report, $24,054,744) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
| 2026-03-31 | Investments -- non-controlled/ non-affiliate First Lien Debt Paper & Plastic Packaging Products & Materials Bron Buyer, LLC Type Term Loan Reference Rate and Spread SOFR + 4.75% Interest Rate 9.94% Maturity Date 1/13/2029 (1.3% of portfolio value in the 2025-12-31 report, $29,153,500) is absent from the 2026-03-31 report -- realized, sold, or restructured under a different name. |
Where exit demand met the cap.
Stated cap: 5% of shares/quarter. The disclosed history shows no rationed period.
| Period | Requested | Filled | Cap used | Status |
|---|---|---|---|---|
| 2026-02-27 | 2.8% | 100% | 56% | filled |
| 2025-11-28 | 1.0% | 100% | 19% | filled |
| 2025-08-29 | 0.7% | 100% | 14% | filled |
| 2025-05-30 | 0.6% | 100% | 12% | filled |
| 2025-02-28 | 0.7% | 100% | 14% | filled |
| 2024-11-29 | 0.8% | 100% | 17% | filled |
| 2024-08-30 | 0.3% | 100% | 6% | filled |
| 2024-05-31 | 1.4% | 100% | 28% | filled |
| 2024-02-29 | 0.1% | 100% | 3% | filled |
| 2023-11-30 | 0.0% | 100% | 0% | filled |
| 2023-08-31 | 0.1% | 100% | 1% | filled |
| 2023-05-31 | Not disclosed | 100% | Not disclosed | filled |
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
No structured financing components have been captured for this fund.
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
No filed share-class terms have been captured for this fund; ownership type is therefore not inferred.
Management fee: 1.25% of net assets per year. source. Management fees are payable monthly in arrears at an annual rate of 1.25% of the value of the Fund's net assets as of the beginning of the first business day of the applicable month. Net assets means the Fund's total assets less liabilities determined on a consolidated basis in accordance with GAAP. The Fund separately pays the Administrator an Administration Fee at an annual rate of 0.32% of the Fund's month-end NAV.
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (2)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | Management fees are payable monthly in arrears at an annual rate of 1.25% of the value of the Fund's net assets as of the beginning of the first business day of the applicable month. Net assets means the Fund's total assets less liabilities determined on a consolidated basis in accordance with GAAP. The Fund separately pays the Administrator an Administration Fee at an annual rate of 0.32% of the Fund's month-end NAV. | 1.25 pct_annual_of_net_assets | Date not captured |
| repurchase_program_terms | Discretionary quarterly tender offer program: the Fund's Schedule TO offers have consistently stated up to 5% of Shares outstanding per quarter (most recently confirmed 2026-05-29). Fidelity Private Credit Fund | 5.0 pct_of_shares_outstanding_per_quarter | Date not captured |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-06-26 | 8-K | 0001193125-26-284779 |
| 2026-06-05 | SC TO-I/A | 0001193125-26-259464 |
| 2026-05-28 | 8-K | 0001193125-26-243253 |
| 2026-05-14 | 8-K | 0001193125-26-223350 |
| 2026-05-08 | 10-Q | 0001193125-26-214226 |
| 2026-04-30 | SC TO-I | 0001193125-26-196103 |
| 2026-04-30 | 8-K | 0001193125-26-197449 |
| 2026-04-29 | SC TO-I/A | 0001193125-26-190112 |
| 2026-04-24 | 8-K | 0001193125-26-177159 |
| 2026-04-08 | 8-K | 0001193125-26-146995 |
| 2026-03-27 | 8-K | 0001193125-26-128081 |
| 2026-03-23 | 10-K | 0001193125-26-119488 |
| 2026-03-23 | 8-K | 0001193125-26-119551 |
| 2026-03-09 | SC TO-I/A | 0001193125-26-097962 |
| 2026-03-09 | 8-K | 0001193125-26-097985 |