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Fidelity Private Credit Fund·8-K

Mar 27, 11:28 AM ET

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Fidelity Private Credit Fund 8-K

Research Summary

AI-generated summary

Updated

Fidelity Private Credit Fund Declares Distributions, Reports NAV

What Happened

  • Fidelity Private Credit Fund filed an 8‑K on March 27, 2026, announcing cash and reinvestment distributions, reporting net asset value (NAV) as of February 28, 2026, and disclosing an unregistered sale of Class I shares to feeder vehicles. The Fund declared regular distributions of $0.1750 per share and a variable supplemental distribution of $0.0160 per share, payable on or about April 30, 2026 (record date: March 31, 2026).

Key Details

  • Unregistered sale: 195,092 Class I common shares sold as of March 1, 2026 (finalized March 23, 2026) for $4,900,000 to feeder vehicles (offered under Section 4(a)(2) and/or Regulation S).
  • Distributions (declared Mar 27, 2026; payable ~Apr 30, 2026; record date Mar 31, 2026):
    • Gross distribution per share: $0.1750 for Class I, S, and D.
    • Stockholder servicing fees: Class S $0.0178 (net $0.1572), Class D $0.0052 (net $0.1698), Class I $0.00 (net $0.1750).
    • Variable supplemental distribution: $0.0160 per share (same record and pay dates).
    • Payment options: cash or reinvestment under the Fund’s distribution reinvestment plan.
  • NAV and balance-sheet snapshot as of Feb 28, 2026:
    • NAV per share: Class I $25.12; Class S $25.09; Class D $25.11.
    • Aggregate NAV: $1.3 billion; investment portfolio fair value: $2.4 billion; principal debt outstanding: $1.1 billion; debt-to-equity ≈ 0.81x.
  • Offering status (continuous public offering up to $4.0 billion):
    • Total shares issued through Mar 1, 2026: 54,831,221 total; total consideration ≈ $1,397.4 million (Offering: Class I 54,390,380 shares / $1,386.2M; Private Offering: Class I 327,863 shares / $8.3M).

Why It Matters

  • Distributions: Investors should note the announced regular and supplemental distributions and the April payment date; Class S and D carry servicing fees that reduce their net payout compared with Class I.
  • NAV & leverage: The Feb 28 NAVs and the Fund’s debt-to-equity (~0.81x) provide a recent snapshot of portfolio value and leverage that may affect risk and income stability.
  • Capital activity: The unregistered sale and ongoing offering activity show continued capital raising and growth of assets under management, which can influence liquidity, scale, and future distribution capacity.